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Reliance Defence gains after emerging as lowest bidder for building partol vessels
Sep 22,2016

Meanwhile, the S&P BSE Sensex was up 286.90 points, or 1.01%, to 28,794.32

On BSE, so far 14.17 lakh shares were traded in the counter, compared with average daily volume of 6.72 lakh shares in the past one quarter. The stock hit a high of Rs 61.45 and a low of Rs 59.70 so far during the day. The stock hit a 52-week high of Rs 114 on 28 December 2015. The stock hit a 52-week low of Rs 52.65 on 12 February 2016. The stock had underperformed the market over the past 30 days till 21 September 2016, falling 9.79% compared with 1.85% rise in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 8.1% as against Sensexs 5.57% rise.

The mid-cap company has equity capital of Rs 736.21 crore. Face value per share is Rs 10.

In a clarification to reports indicating that the company has won bid to build 14 Fast Patrol Vessels, Reliance Defence and Engineering during market hours today, 22 September 2016 clarified that it has emerged as the lowest bidder to build 14 Fast Patrol Vessels for the Indian Coast Guard (ICG). The approximate order value is Rs 920 crore, Reliance Defence and Engineering said.

Reliance Defence & Engineering reported net loss of Rs 134.50 crore in Q1 June 2016, lower than net loss of Rs 167.27 crore in Q1 June 2015. Reliance Defence & Engineerings total income dropped 34.21% to Rs 74.18 crore in Q1 June 2016 over Q1 June 2015.

Reliance Defence & Engineering (formerly Pipavav Defence and Offshore Engineering Company) is into building defence warships.

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HDFC Bank gains after raising funds through debenture issue
Sep 22,2016

The announcement was made during market hours today, 22 September 2016.

Meanwhile, the S&P BSE Sensex was down 121.23 points or 0.43% at 27,794.66.

On BSE, so far 78,132 shares were traded in the counter as against average daily volume of 1.15 lakh shares in the past one quarter. The stock hit high of Rs 1,315.55 and low of Rs 1,300.30 so far during the day.

HDFC Bank said that it allotted 67,000 senior, unsecured, redeemable, long-term non-convertible bonds in the nature of debentures having face value of Rs 10 lakh each amounting to Rs 6700 crore on a private placement basis.

HDFC Banks net profit rose 20.2% to Rs 3238.91 crore on 17.1% growth in total income to Rs 19322.63 crore in Q1 June 2016 over Q1 June 2015.

HDFC Bank is one of the leading private sector banks in India.

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SBI index shows decline in growth in September 2016
Sep 22,2016

The yearly SBI Composite Index for September 2016 is indicating a downward momentum and is at 50.2 (Low Growth), compared to last months 52.7 (Moderate Growth), and above the benchmark level of 50. The Monthly Index declined to 50.8 (Low Growth) in September 2016 from 49.9 (Low Decline) in August 2016.

The credit off-take (YoY) is at 9.8% in 02 September 2016, in single digit.

The bad thing is that Debt Weighted Credit Ratio worsens in FY2016 (All Rating Agencies) - the ratio declined below 1 in FY2016 - from 1.24 to 0.79 in FY2016. Hopefully, there should be a medium term course correction.

The SBI Economic Research Department expect that the credit cycle will turn for the better in a gradual manner. The good thing is that a part of the slowdown in corporate credit growth in the current fiscal is because of deleveraging by corporates and subsequent repayments. Retail credit growth continues to be strong. Additionally, about 48% of the credit upgrades in H2FY2016 was due to better order book / healthy demand, improvement in profit margins and efficient management of working capital.

Overall, demand still remain a significant laggard in the system. With the pay commission arrears implemented from August 2016, bank deposits have shown a sizeable growth in September (over 20% of the incremental addition in current fiscal is attributable to such). This will lead to increased consumer demand ahead of festive season. The SBI Economic Research Department is penciling in a 50 bp rate cut by RBI MPC in current fiscal.

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IT stocks decline as rupee strengthens
Sep 22,2016

Meanwhile, the S&P BSE Sensex was up 249.56 points or 0.88% at 28,755.86.

HCL Technologies (down 0.26%), Tech Mahindra (down 1.37%), TCS (down 1.1%) and Wipro (down 0.47%) declined. Oracle Financial Services Software rose 0.2%. A firm rupee adversely affects operating profit margins of IT firms as the sector derives a lions share of revenue from exports.

In the foreign exchange market, the partially convertible rupee was currently hovering at 66.7675, compared with closing of 67.02 during the previous trading session.

The BSE IT index had underperformed the market over the past one month till 21 September 2016, falling 1.57% compared with 1.53% rise in the Sensex. The index had also underperformed the market in past one quarter, dropping 10.09% as against Sensexs 6.32% rise.

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Unishire Urban Infra to hold AGM
Sep 22,2016

Unishire Urban Infra announced that the 25th Annual General Meeting(AGM) of the company on 30 September 2016.

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Cressanda Solutions to hold AGM
Sep 22,2016

Cressanda Solutions announced that the th Annual General Meeting(AGM) of the company on 30 September 2016.

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Board of Asian Granito India recommends dividend
Sep 22,2016

Asian Granito India announced that the Board of Directors of the Company at its meeting held on 22 September 2016, inter alia, have recommended the dividend of Rs 0.5 per equity Share (i.e. 5%) , subject to the approval of the shareholders.

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Saptarishi Agro Industries to hold AGM
Sep 22,2016

Saptarishi Agro Industries announced that the 24th Annual General Meeting(AGM) of the company on 30 September 2016.

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VB Industries to hold AGM
Sep 22,2016

VB Industries announced that the 29th Annual General Meeting(AGM) of the company on 21 September 2016.

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Federal Bank advances after twin bulk deals
Sep 22,2016

A bulk deal of 34.04 lakh shares was executed on the Federal Bank scrip at Rs 72.65 per share at 10:17 IST on BSE. Another bulk deal of 25.32 lakh shares was executed on the scrip at Rs 73.10 per share at 10:26 IST on BSE.

Meanwhile, the S&P BSE Sensex was up 243.21 points or 0.85% at 28,750.63

Bulk deal boosted volume on the scrip. On BSE, so far 97.25 lakh shares were traded in the counter as against average daily volume of 7.71 lakh shares in the past one quarter. The stock hit a high of Rs 73.85 and a low of Rs 71.20 so far during the day. The stock had hit a 52-week high of Rs 76.15 on 7 September 2016. The stock had hit a 52-week low of Rs 41.35 on 12 February 2016. The stock had outperformed the market over the past 30 days till 21 September 2016, rising 5.73% compared with 1.85% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 26.79% as against Sensexs 5.57% rise.

The large-cap private-sector bank has equity capital of Rs 343.97 crore. Face value per share is Rs 2.

Federal Banks net profit rose 18.33% to Rs 167.31 crore on 6.82% rise in total income to Rs 2250.81 crore in Q1 June 2016 over Q1 June 2015.

Federal Bank is one of the leading private sector banks in India.

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Aurobindo Pharma gains after receiving tentative approval from USFDA for drug
Sep 22,2016

The announcement was made during trading hours today, 22 September 2016.

Meanwhile, the S&P BSE Sensex was up 232.98 points or 0.82% at 28,740.40.

High volumes were witnessed on the counter. On BSE, so far 4.4 lakh shares were traded in the counter as against average daily volume of 1.64 lakh shares in the past one quarter. The stock hit a high of Rs 846.90 and a low of Rs 811.50 so far during the day. The stock had hit a record high of Rs 891.50 on 30 December 2015. The stock had hit a 52-week low of Rs 582 on 25 February 2016. The stock had outperformed the market over the past one month till 21 September 2016, gaining 5.57% compared with 1.53% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 11.65% as against Sensexs 6.32% rise.

The large-cap company has equity capital of Rs 58.52 crore. Face value per share is Re 1.

Aurobindo Pharma said that this important milestone marks the first US Food & Drug Administration (USFDA) approval of a generic version of Dolutegravir (DTG), an integrase strand transfer inhibitor recommended for use in treatment-nan++ve patients by the US Centers for Disease Control and Prevention (CDC) and the World Health Organization (WHO). Through an innovative collaboration with ViiV and the Clinton Health Access Initiative, Inc. (CHAI), the product is expected to be launched in sub-Saharan Africa in late 2016. The approved Abbreviated New Drug Application (ANDA) is bioequivalent and therapeutically equivalent to the reference listed drug product (RLD) Tivicay, of ViiV Healthcare. ViiV Healthcare and Aurobindo Pharma signed a licensing agreement in 2014 that allows Aurobindo Pharma to supply Dolutegravir 50mg in 92 licensed countries, following completion of required local regulatory approval processes.

Dolutegravir 50mg is indicated for the treatment of HIV-1 infection in combination with other antiretroviral agents.

Aurobindo Pharmas consolidated net profit rose 23.8% to Rs 584.96 crore on 13% growth in net sales to Rs 3663.91 crore in Q1 June 2016 over Q1 June 2015.

Aurobindo Pharma manufactures generic pharmaceuticals and active pharmaceutical ingredients. The companys robust product portfolio is spread over 7 major therapeutic/product areas encompassing antibiotics, anti-retrovirals, CVS, CNS, gastroenterologicals, anti-allergies and anti-diabetics, supported by an outstanding R&D set-up. The company is marketing these products globally, in over 150 countries.

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FM: Infrastructure is key to growth of economy
Sep 22,2016

The Union Finance Minister Shri Arun Jaitley said that infrastructure is key to growth of economy. Shri Jaitley said that an institutionalized forum amongst BRICS countries could serve as a regional knowledge hub with exchange of information facilitated through cloud sharing, and other electronic methods. Shri Jaitley said that projects in transportation sector like Highways, Ports and Railways will be area of mega economic activities as far as infrastructure sector in India is concerned. The Finance Ministery Shri Jaitley further said that investment, both from public and private sector, will be required for infrasturucture financing, especially in areas of health, education, sanitation, renewable energy, highways, ports and railways among others. The Finance Minister was delivering the Inaugural Address after inaugurating the BRICS India 2016 seminar on n++BRICS Seminar on Best Practices in Public Private Partnerships (PPPs) and Long-term Infrastructure Financingn++ in the national capital here today.

The Union Finance Minister Shri Arun Jaitley outlined the strategy the Government has adopted to boost the Indian Economy like Make in India, 100 smart cities, and liberalised FDI regime. He said that the Government gives high priority to Infrastructure and have taken a number of policy decisions like NIIF, Innovative new financial instruments such as REITS, INVITS, IDFs. He stressed the need for BRICS member countries to share their experiences in financing and delivery of infra projects so that they can collectively move to higher quality and efficiency in the delivery of public services.

Secretary, Department of Economic Affairs, Shri Shaktikanta Das said that infrastructure financing, especially in clearly demarketed projects is the need of the hour. He said that National Investment and Infrastructure Fund (NIIF) will play a pivotal role especially in infrastructure financing of projects in areas of ports, highways and railways in particular. The Seminar brought together experts from BRICS countries in the field of infrastructure development and financing and PPPs for exchange of best practices, experiences and expertise. The technical sessions covered the areas of Regulatory Issues and Financing of Infrastructure; Innovative Investment Vehicles for Long-Term Infrastructure Investment, PPP Project Delivery and Post award Contract management. Government is also proposing Public Contracts (Resolution of Disputes) Bill, Guidelines for remediating PPP Contracts, New Credit Rating system, Credit Enhancement for Infrastructure projects etc.

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Outcome of board meeting of Asian Granito India
Sep 22,2016

Asian Granito India announced that the Board of Directors of the Company has given approval in its meeting held on 22 September 2016 to extend the Corporate Guarantee of Rs. 46.50 crore in favor of Crystal ceramic Industries. The total Corporate Guarantee (as on date) given by the Company in favor of Crystal Ceramic Industries is Rs. 171.50 crore.

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Board of Vital Communication approves shifting of registered office
Sep 22,2016

Vital Communications announced that the Board of Directors of the Company at its Board Meeting held on 01 September 2016 has considered and approved Shifting of Registered office from 606, Kailash Building, Kasturba Gandhi Marg, Connaught Place, New Delhi, Delhi-110001 To Office No. 323, Third Floor, Vardhman Fortune Mall, G.T. Karnal Road, Near Gujarawala Town, Delhi-110033 with effect from 01 September 2016.

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Volumes jump at Ahluwalia Contracts (India) counter
Sep 22,2016

Ahluwalia Contracts (India) clocked volume of 2.57 lakh shares by 13:20 IST on BSE, a 70.82-times surge over two-week average daily volume of 4,000 shares. The stock was up 1.41% at Rs 295.25.

D-Link (India) notched up volume of 6.21 lakh shares, a 35.01-fold surge over two-week average daily volume of 18,000 shares. The stock surged 17.26% at Rs 88.65.

Gujarat Pipavav Port saw volume of 19.03 lakh shares, a 29.61-fold surge over two-week average daily volume of 64,000 shares. The stock declined 0.29% at Rs 172.

Sadbhav Infrastructure Project clocked volume of 24.66 lakh shares, a 24.33-fold surge over two-week average daily volume of 1.01 lakh shares. The stock jumped 10.87% at Rs 112.75 after the company said it raised Rs 200 crore under tranche 1 by issue of non-convertible debentures on private placement basis. The announcement was made during market hours today, 22 September 2016.

Asahi Songwon Colors saw volume of 8.52 lakh shares, a 22.21-fold rise over two-week average daily volume of 38,000 shares. The stock surged 11.05% at Rs 228.05.

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