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Nitin Fire Protection recovers on bargain hunting
Jun 13,2017

Meanwhile, the S&P BSE Sensex was up 101.76 points, or 0.33% at 31,197.46. The S&P BSE Small-Cap index was up 131.89 points, or 0.85% at 15,585.95.

High volumes were witnessed on the counter. On the BSE, 21.01 lakh shares were traded on the counter so far as against the average daily volumes of 3.23 lakh shares in the past two weeks. The stock had hit a high of Rs 9.33 so far during the day. The stock hit low of Rs 8.45 so far during the day, which is also its 52-week low. The stock had hit a 52-week high of Rs 37.35 on 1 November 2016.

The stock had underperformed the market over the past one month till 12 June 2017, declining 59.86% compared with the Sensexs 3.01% rise. The scrip had also underperformed the market over the past one quarter declining 60.92% as against the Sensexs 7.43% rise. The scrip had also underperformed the market over the past one year declining 71.64% as against the Sensexs 16.74% rise.

The small-cap company has equity capital of Rs 58.45 crore. Face value per share is Rs 2.

Shares of Nitin Fire Protection Industries had declined 54.53% in the preceding eleven trading sessions to settle at Rs 8.89 yesterday, 12 June 2017, from its close of Rs 19.55 on 26 May 2017. The slide was triggered by the company reporting reverse turnaround in Q4 March 2017 results on 31 May 2017.

Nitin Fire Protection Industries reported consolidated net loss of Rs 109.84 crore in Q4 March 2017, compared with net profit of Rs 11.34 crore in Q4 March 2016. Net sales fell 98.91% to Rs 3.36 crore in Q4 March 2017 over Q4 March 2016.

Nitin Fire Protection Industries provides fire detection and fire suppression systems, and manufactures fire extinguishers.

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TCS slips ex-dividend
Jun 13,2017

Meanwhile, the S&P BSE Sensex was up 99.66 points or 0.32% at 31,195.36.

On the BSE, 26,000 shares were traded on the counter so far as against the average daily volumes of 1.73 lakh shares in the past two weeks. The stock had hit a high of Rs 2,482.45 and a low of Rs 2,461 so far during the day. The stock had hit a 52-week high of Rs 2,740 on 16 August 2016 and a 52-week low of Rs 2,054.70 on 15 November 2016.

The stock had outperformed the market over the past one month till 12 June 2017, advancing 5.53% compared with the Sensexs 3.01% rise. The stock had, however, underperformed the market over the past one quarter, sliding 2.04% as against the Sensexs 7.43% rise. The scrip had also underperformed the market over the past one year, declining 2.77% as against the Sensexs 16.74% rise.

The large-cap company has equity capital of Rs 197.04 crore. Face value per share is Rs 1.

Before turning ex-dividend, the stock offered a dividend yield of 1.1% based on the closing price of Rs 2,489.90 yesterday, 12 June 2017.

Meanwhile, TCS announced a new collaboration with Intel Corporation to build a future ready reference architecture for the internet of things (IoT), cloud, network, 5G, AI and data center infrastructure management, helping to meet rapidly evolving digital transformation requirements of global markets. The announcement was made after market hours yesterday, 12 June 2017.

TCS and Intel are also investing in Centre of Excellence (CoE) in the US and India, which will be hubs for next generation datacenter technologies, IoT and cloud-ready network architectures to support customers.

TCS consolidated net profit fell 2.81% to Rs 6622 crore on 0.31% decline in net sales to Rs 29642 crore in Q4 March 2017 over Q3 December 2016.

TCS is an IT services, consulting and business solutions organization.

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Industrial production improves 3.1% in April 2017
Jun 13,2017

Indias industrial production (base year 2011-12=100) increased 3.1% in April 2017 over April 2016. Meanwhile, the growth for March 2017 has been revised upwards to 3.8% from 2.7% reported earlier. The manufacturing sectors production rose 2.6% in April 2017. Meanwhile, mining output moved up 4.2% and the electricity generation galloped 5.4% in April 2017.

As per the use-based classification, the primary goods output improved 3.4% in April 2017 over a year ago, but the output of capital goods declined 1.3%. The intermediate goods output moved up 4.6%, while the output of Infrastructure/ construction goods also increased 5.8% and consumer non-durable durables 8.3%. However, the production of consumer durable goods declined 6% in April 2017 over April 2016, while recording fall for fifth straight month.

In terms of industries, fourteen out of the 23 industry groups in the manufacturing sector have shown positive growth in April 2017 as compared to the corresponding month of the previous year.

Industrial production rose 5% in April-March FY2017, compared with 3.4% growth in the corresponding period last year. The manufactured product sector output improved 4.9%, while the mining and electricity generation improved 5.3% and 5.8% in April-March FY2017.

The industry group Manufacture of pharmaceuticals, medicinal chemical and botanical products has shown the highest positive growth of 29.1% followed by 17.9% in Manufacture of tobacco products and 9.5% in Manufacture of machinery and equipment.

On the other hand, the industry group Manufacture of beverages has shown the highest negative growth of (-) 19.2% followed by (-) 15.6% in Manufacture of motor vehicles, trailers and semi-trailers and (-) 14.4% in Manufacture of electrical equipment.

Some important items showing high positive growth during the current month over the same month in previous year include Digestive enzymes and antacids (incl. PPI drugs) (113.4%), Printing machinery (57.2%), Meters (electric and non-electric) (45.1%), Bidi (38.7%), Tea (33.8%), HR plates of mild steel (26.6%), Industrial Valves of different types- safety, relief and control valves(non-electronic, non-electrical) (25.2%), HR coils and sheets of mild steel (24.6%) and Steel frameworks or skeletons for construction of towers including pit props (21.3%).

Some important items that have registered high negative growth include Shelled cashew kernel, whether or not processed/ roasted/ salted (-) 72.9%, Axle (-) 60.3%, API & formulations of hypo-lipidemic agents (-) 44.8%, Rice (excluding basmati) (-) 39.9%, Plastic jars, bottles and containers (-) 39.7%, Air filters (-) 31.9%, Tooth Paste (-) 31.8%, Air/ gas compressors of all types (incl. compressors for refrigerators) (-) 31.6%, Stainless steel utensils (-) 29.6%, Commercial Vehicles (-) 28.8%, Aerated drinks/ soft drinks (incl. soft drink concentrates) (-) 26.5%, Beer & other undistilled and fermented alcoholic liqueurs other than wines (-) 26.1% and Vaccine for veterinary medicine (-) 24.2%.

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Volumes jump at Goldstone Infratech counter
Jun 13,2017

Goldstone Infratech clocked volume of 10.45 lakh shares by 12:30 IST on BSE, a 92.23-times surge over two-week average daily volume of 11,000 shares. The stock rose 4.94% to Rs 51.

AIA Engineering notched up volume of 2.12 lakh shares, a 49.40-fold surge over two-week average daily volume of 4,000 shares. The stock fell 0.54% to Rs 1,338.

Emami saw volume of 6.76 lakh shares, a 41.55-fold surge over two-week average daily volume of 16,000 shares. The stock rose 2.34% to Rs 1,138.70.

Godrej Properties clocked volume of 8.65 lakh shares, a 20.65-fold surge over two-week average daily volume of 42,000 shares. The stock rose 4.62% to Rs 529.

Brigade Enterprises saw volume of 3.03 lakh shares, a 14.06-fold rise over two-week average daily volume of 22,000 shares. The stock rose 1.67% to Rs 267.80.

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Board of DIC India appoints Chairman
Jun 13,2017

The Board of DIC India at its meeting held on 12 June 2017 has appointed Dipak Kr Banerjee as the Chairman of the Board.

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KRBL wins APEDA Golden Trophy
Jun 13,2017

KRBL announced that the Company has won the APEDA Golden Trophy for Outstanding Export Performance & Contribution in the Basmati Rice Sector.

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Pil Italica Lifestyle appoints company secretary and compliance officer
Jun 13,2017

Pil Italica Lifestyle has appointed Chirag Gupta as Company Secretary and Compliance Officer of the company w.e.f. his appointment in the Board Meeting held on 13 June 2017.

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Board of White Organic Agro approves incorporation of subsidiary in UAE
Jun 13,2017

White Organic Agro announced that the Board of Directors the Company at its meeting held on 13 June 2017 have approved to form wholly owned subsidiary company under the name and style White Organic Agro F.Z.E or any other name approved by the authorities in Ajman Free Zone or any other Free Zone/s operating in the United Arab Emirates. The Board of Directors has approved the investment in the said subsidiary upto AED 15 Million and the same may be spread in different tranches as and when required. The Board of Directors have further authorised Darshak M Rupani, Managing Director of the Company to take all the necessary steps to complete the acquisition.

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51 EMR Schools made Functional during The Last three years
Jun 13,2017

Ministry of Tribal Affairs has actively initiated various efforts during the last three years to make more Eklavya Model Residential Schools (EMRS) functional. As a result, 51 new EMRS were made functional during the last three years. 161 EMR Schools are functional right now, while this figure was at 110 in the year 2013-14. More than 52 thousand tribal students are taking education in 161 EMR Schools of 26 States.

Eklavya Model Residential School Scheme was started in 1998 and first school was started in the year 2000 in Maharashtra. A total of 259 schools have been sanctioned during the last 17 years, out of which, 72 EMRS were sanctioned during last three years. EMRSs have been functioning as institutions of excellence for tribal students. Results of these schools have been generally better than other Government schools in the tribal areas. Average pass percentage of students in Class Xth and XIIth in these EMRS is above 90%. Many EMRS students have been reported to be faring well in higher studies and competitive examinations.

In order to further educational opportunities for more ST children, Government seeks to extend the facility of EMRSs in all the 672 Blocks where ST population is more than 50% of the total population in a span of next five years.

As per existing EMRS Guidelines of 2010, at least one EMRS is to be set up in each Integrated Tribal Development Agency (ITDA) / Integrated Tribal Development Project (ITDP) having 50% ST population in the area. The capital cost for setting up the school complex, including hostels and staff quarters etc. has been earmarked at Rs. 12 crore with a provision to go up to Rs.16 crore in hill areas, deserts and islands. Recurring cost during the first year for these schools would be Rs. 42000/-per child, with a provision of raising it by 10% every second year to compensate for inflation etc.

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Sportking India gets revision in credit ratings for bank loan ratings
Jun 13,2017

Sportking India announced that ICRA has upgraded the bank loan rating of the company for the long term debts from ICRA BBB to ICRA BBB+. Further, bank loan rating of the Company for the short term debts has been reaffirmed at ICRA A3+.

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Ramco Systems partners with Dentsu Aegis Network Middle East and North Africa
Jun 13,2017

Dentsu Aegis Network Middle East and North Africa, a global communications network offering best-in-class expertise and capabilities in Media, Digital and Creative, announced the successful implementation of Ramco Systems HCM suite integrated with Payroll, for its operations across the region. The deployment of Ramco HCM will digitize and automate all HR processes at Dentsu Aegis, offering improved visibility across the organization and simplifying day to day HR needs.

The integrated online platform enables staff members to effortlessly manage their personal profiles, leave requests, expenses, business travel and payroll, as well as providing an overview of team schedules for linemanagers. Ramco HCM has automated the entire HR & Payroll operations which had previously been managed manually. The initial results have been encouraging with Dentsu Aegis reporting an 80% reductionin payroll processing time.

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Muthoot Finance hits record high
Jun 13,2017

Meanwhile, the S&P BSE Sensex was up 82.88 points or 0.27% at 31,178.58.

On the BSE, 2.17 lakh shares were traded on the counter so far as against the average daily volumes of 82,000 shares in the past two weeks. The stock had hit a high of Rs 459.30 so far during the day, which is a record high. The stock hit a low of Rs 449.40 so far during the day. The stock had hit a 52-week low of Rs 250 on 24 June 2016.

The stock had outperformed the market over the past one month till 12 June 2017, advancing 14.98% compared with the Sensexs 3.01% rise. The stock had also outperformed the market over the past one quarter, gaining 32.64% as against the Sensexs 7.43% rise. The scrip had also outperformed the market over the past one year, surging 75.44% as against the Sensexs 16.74% rise.

The large-cap company has equity capital of Rs 399.54 crore. Face value per share is Rs 10.

The domestic brokerage reportedly said that gold loan companies even after the recent run up quote at a discount in terms of price to average book value compared to other categories of non-banking finance companies (NBFCs) like housing finance, personal/durable finance, micro finance.

Expectation of good monsoon this year could trigger larger demand for gold loans across the country especially in the south, the brokerage said.

Muthoot Finances net profit rose 21.3% to Rs 321.78 crore on 18% growth in total income to Rs 1713.22 crore in Q4 March 2017 over Q4 March 2016.

Muthoot Finance is the largest gold financing company in India in terms of loan portfolio.

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Suven Life Sciences firms up after bagging product patents
Jun 13,2017

The announcement was made during trading hours today, 13 June 2017.

Meanwhile, the S&P BSE Sensex was up 77.59 points, or 0.25% to 31,173.29.

On the BSE, 28,000 shares were traded in the counter so far, compared with average daily volumes of 74,483 shares in the past one quarter. The stock had hit a high of Rs 192.40 and a low of Rs 185.40 so far during the day. The stock hit a 52-week high of Rs 221 on 21 July 2016. The stock hit a 52-week low of Rs 151.10 on 9 November 2016.

The stock had underperformed the market over the past one month till 12 June 2017, falling 5.24% compared with 3.01% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 9.50% as against Sensexs 5.61% rise. The scrip had underperformed the market in past one year, falling 11.02% as against Sensexs 17.80% rise.

The small-cap company has equity capital of Rs 12.73 crore. Face value per share is Re 1.

Suven Life Sciences (Suven) announced that it was granted one product patent from Australia and one product patent from USA corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases. These patents are valid through 2032 and 2034 respectively.

The granted claims of the patents are from the mechanism of action include the class of selective 5HT6 and 5HT4 compounds and are being developed as therapeutic agents and are useful in the treatment of cognitive impairment associated with neurodegenerative disorders like Alzheimers disease, Attention deficient hyperactivity disorder (ADHD), Huntingtons disease, Parkinson and Schizophrenia.

Net profit of Suven Life Sciences rose 7.8% to Rs 40.07 crore on 3.3% rise in net sales to Rs 175 crore in Q4 March 2017 over Q4 March 2016.

Suven Life Science is a biopharmaceutical company focused on discovering, developing and commercializing novel pharmaceutical products, which are first in class or best in class CNS therapies using GPCR targets.

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Pennar Industries and its subsidiaries secure new orders
Jun 13,2017

Pennar Industries and its subsidiaries have secured orders worth Rs 225 crore.

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Suven Life Sciences secures two product patents for its NCEs
Jun 13,2017

Suven Life Sciences has secured a product patent from Australia (2014358652) and another product patent from USA (9636335) corresponding to the New Chemical Entities (NCEs) for thetreatment of disorders associated with Neurodegenerative diseases and these Patents are valid through 2032 and 2034 respectively.

The granted claims of the patents are from the mechanism of action include the class of selective 5HT6 and 5HT4 compounds and are being developed as therapeutic agents and are useful in the treatment of cognitive impairment associated with neurodegenerative disorders like Alzheimers disease, Attention deficient hyperactivity disorder (ADHD),Huntingtons disease, Parkinson and Schizophrenia.

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