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Bajaj Hindusthan Sugar gains on plan to sell co-gen power operation
Dec 20,2016

The announcement was made during trading hours today, 20 December 2016.

Meanwhile, the BSE Sensex was down 42.41 points, or 0.16%, to 26,332.29.

On the BSE, so far 11.81 lakh shares were traded in the counter, compared with average daily volumes of 3.41 lakh shares in the past one quarter. The stock had hit a high of Rs 14.74 and a low of Rs 13.05 so far during the day.

The stock hit a 52-week high of Rs 24.20 on 13 June 2016. The stock hit a 52-week low of Rs 12.65 on 12 February 2016. The stock had underperformed the market over the past 30 days till 19 December 2016, falling 10.27% compared with the 0.86% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 24.03% as against Sensexs 7.53% decline.

The small-cap company has equity capital of Rs 113.36 crore. Face value per share is Re 1.

Bajaj Hindusthan Sugar said that the board of directors of the company at its meeting held on 20 December 2016, considered approval of sale and transfer of co-generation power business of aggregating capacity of 449 megawatts (MW) located at 14 locations to Lalitpur Power Generation Company (LPGCL), a group company for a lumpsum consideration in cash of approximately Rs 1800 crore, as a going concern on slump sale basis in accordance with the business transfer agreement to be entered into with LPGCL.

Entire amount of cash consideration is proposed to be utilised by Bajaj Hindusthan Sugar towards advance repayment of its existing term debt. The proposed sale and transfer of co-generation power business will be subject to approval of members, lenders and all other statutory /regulatory authorities, the company said in a statement.

Bajaj Hindusthan Sugar reported net loss of Rs 137.71 crore in Q2 September 2016 as against net loss of Rs 280.17 crore in Q2 September 2015. Net sales rose 13% to Rs 850.08 crore in Q2 September 2016 over Q2 September 2015.

Bajaj Hindusthan Sugar is a sugar and ethanol manufacturing company.

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MIC Electronics secures patent for its solar rechargeable LED lantern
Dec 20,2016

MIC Electronics announced that the Company have been granted a patent by the Controller General of Patents, Designs & Trademarks, Intellectual Property of India, for an invention entitled SOLAR RECHARGEABLE LED LANTERN for a period of 20 years commencing from 25th day of August, 2008.

This Solar LED product is a portable one embedded with multiple applications. Highly advantageous for rural habitants.

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Pennar Engineered Building Systems approves appointment of director
Dec 20,2016

Pennar Engineered Building Systems announced that the Board of Directors of the Company have passed the following resolutions by circulation on 14 December 2016:

1. Approval for Appointment of Eric James Brown as an Additional Director

2. Increase of Initial Public Offer (IPO) Expenses

3. Approval of the Postal Ballot exercise for the following resolutions

a) Appointment of Eric James Brown as Director for consideration of Shareholders
b) Appointment of Eric James Brown as Independent Director
c) Increase of Initial Public Offer Expenses
d) Serve the documents on members pursuant to section 20 of the Companies Act 2013.

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Mercator advances after new order win
Dec 20,2016

The period of contract is four years (inclusive of charterers options) and the charter will commence from January 2017. The announcement was made during market hours today, 20 December 2016.

Meanwhile, the S&P BSE Sensex was down 91.42 points or 0.35% at 26,283.28

On the BSE, 4.15 lakh shares were traded on the counter so far as against average daily volumes of 4.59 lakh shares in the past one quarter. The stock hit a high of Rs 41 and a low of Rs 38 so far during the day. The stock had hit a 52-week high of Rs 54.55 on 6 September 2016. The stock had hit a 52-week low of Rs 15.90 on 12 February 2016. The stock had outperformed the market over the past 30 days till 19 December 2016, rising 4.39% compared with the 0.86% rise in the Sensex. The scrip, however, underperformed the market in past one quarter, sliding 22.98% as against Sensexs 7.53% decline.

The small-cap company has equity capital of Rs 24.49 crore. Face value per share is Re 1.

Mercator reported net loss of Rs 26.47 crore in Q2 September 2016 compared with net profit of Rs 14.57 crore in Q2 September 2015. Net sales declined 19.58% to Rs 133.28 crore in Q2 September 2016 over Q2 September 2015.

Mercator group has business interests in coal, oil & gas, shipping and dredging.

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Hindusthan Urban Infrastructure gets assigned ratings for bank facilities
Dec 20,2016

Hindusthan Urban Infrastructure has been assigned the following ratings by CARE -

Long term bank facilities (Rs 157.52 crore) - CARE BBB
Long term/ short term bank facilities (Rs 401.15 crore) - CARE BBB/ CARE A2

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FACT, GSFC correct on profit booking
Dec 20,2016

Gujarat State Fertilizers & Chemicals (GSFC) (down 2.46% to Rs 93.20) and Fertilizers and Chemicals Travancore (FACT) (down 1.46% to Rs 23.70), edged lower.

The S&P BSE Sensex was down 125.84 points, or 0.48% at 26,248.86.

Shares of FACT rose 4.34% to settle at 24.05 and shares of GSFC jumped 8.95% to settle at 95.55 yesterday, 19 December 2016, after media reports suggested that prices of caprolactam hit a two-year high.

According to media reports, Asian caprolactam hit a 2-year high on Thursday, 15 December 2016, with the CFR Far East Asia marker assessed by S&P Global Platts at $1,830 per metric tonne. The last time the price was at this level was on 18 December 2014, when the Platts CFR Far East Asia marker was assessed at $1,900 a metric tonne.

Caprolactam, a derivative of benzene, is used for manufacturing nylon, tyre-cord, textile filament yarn and engineering plastics.

GSFC and FACT are two major manufacturers of caprolactam in India. GSFC has two caprolactam plants having rated capacities of 20,000 tonnes per annum (TPA) and 50,000 TPA. Meanwhile, FACT has the capacity to produce 50,000 tonnes of caprolactam in a year. FACT exports caprolactam to various countries, including the US.

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Volumes jump at India Gelatine & Chemicals counter
Dec 20,2016

India Gelatine & Chemicals clocked volume of 17.46 lakh shares by 13:29 IST on BSE, a 1401.42-times surge over two-week average daily volume of 1,246 shares. The stock surged 8.13% to Rs 71.15.

Narayana Hrudayalaya notched up volume of 7.92 lakh shares, a 267.87-fold surge over two-week average daily volume of 3,000 shares. The stock shed 0.87% to Rs 334.90.

Prism Cement saw volume of 24.47 lakh shares, a 155.45-fold surge over two-week average daily volume of 16,000 shares. The stock fell 0.72% to Rs 82.20.

HSIL clocked volume of 3.04 lakh shares, a 44-fold surge over two-week average daily volume of 7,000 shares. The stock fell 0.07% to Rs 280.15.

InterGlobe Aviation saw volume of 2.30 lakh shares, a 19.92-fold rise over two-week average daily volume of 12,000 shares. The stock rose 0.13% to Rs 833.

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Siti Networks advances after large bulk deal
Dec 20,2016

Meanwhile, the S&P BSE Sensex was down 66.38 points or 0.25% at 26,308.32

Bulk deal boosted volume on the scrip. On the BSE, 1.47 crore shares were traded on the counter so far as against average daily volumes of 2.88 lakh shares in the past one quarter. The stock had hit a high of Rs 41.35 and a low of Rs 36.50 so far during the day. The stock had hit a 52-week high of Rs 41.70 on 5 January 2016. The stock had hit a 52-week low of Rs 30.90 on 12 February 2016. The stock had outperformed the market over the past 30 days till 19 December 2016, rising 4.83% compared with the 0.86% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 6.8% as against Sensexs 7.53% decline.

The small-cap company has equity capital of Rs 79.41 crore. Face value per share is Re 1.

On a consolidated basis, Siti Networks reported net loss of Rs 46.89 crore in Q2 September 2016, higher than net loss of Rs 31.43 crore in Q2 September 2015. Net sales rose 23.4% to Rs 285.26 crore in Q2 September 2016 over Q2 September 2015.

Siti Networks is one of Indias largest multi system operator (MSO). The company provides its cable services in Indias 250 plus cities and the adjoining areas.

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Reliance Home Finance announces maiden public issue of secured and unsecured NCDs
Dec 20,2016

Reliance Home Finance announced its maiden public issue offering Secured Redeemable Non-Convertible Debentures (Secured NCDs) and Unsecured Redeemable Non-Convertible Debentures (Unsecured NCDs).

The Company proposes to raise Rs 1000 crore (USD 14.7 million), as base issue size, by offering secured NCDs and unsecured NCDs at a face value of Rs 1000 each. The unsecured NCDs will be in the nature of subordinated debt and will be eligible for inclusion as Upper Tier II Capital.

The NCDs will be issued in one or more tranches up to the shelf limit, on terms and conditions as set out in the Tranche 1 Prospectus.

The Company will used the amount for the purpose of lending, financing, and for repayment of interest and principle of existing borrowings and for general corporate purposes.

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Indo Thai Securities to conduct business review
Dec 20,2016

Indo Thai Securities announced that a meeting of the Board of Directors of the Company is scheduled to be held on 21 December 2016 to transact incidental & ancillary matters relating to the Business of the Company.

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Bharat Financial Inclusion tops losers on BSEs A group
Dec 20,2016

Bharat Financial Inclusion slipped 4.48% at Rs 576.60. The stock topped the losers in A group. On the BSE, 4.32 lakh shares were traded on the counter so far as against the average daily volumes of 1.54 lakh shares in the past two weeks.

Unitech slipped 4.31% at Rs 4.22. The stock was the second biggest loser in A group. On the BSE, 28.84 lakh shares were traded on the counter so far as against the average daily volumes of 27.56 lakh shares in the past two weeks.

Allahabad Bank slipped 4.02% at Rs 63.35. The stock was the third biggest loser in A group. On the BSE, 1.44 lakh shares were traded on the counter so far as against the average daily volumes of 1.83 lakh shares in the past two weeks.

Page Industries slipped 4.08% at Rs 13,408.65. The stock was the fourth biggest loser in A group. On the BSE, 434 shares were traded on the counter so far as against the average daily volumes of 980 shares in the past two weeks.

Jaiprakash Associates slipped 3.88% at Rs 7.43. The stock was the fifth biggest loser in A group. On the BSE, 14.48 lakh shares were traded on the counter so far as against the average daily volumes of 20.02 lakh shares in the past two weeks.

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IL&FS Transportation Networks provides project update
Dec 20,2016

IL&FS Transportation Networks announced that its subsidiary and SPV, GRICL Rail Bridge Development Company mandated for undertaking the development of 8 railway over bridges (RoBs) in the State of Gujarat under PPP Mode on Annuity basis (the project) by R&B Department, Government of Gujarat, has achieved financial tie-up of loans aggregating Rs 188 crore for the project. Loan agreements have been entered into with a consortium of bankers on 15 December 2016.

The project is on annuity basis with a concession period of 17.5 years and the estimated cost of the project is Rs 250.85 crore. The Semi- Annual annuity payable will be Rs 21.99 crore for a period of 15 years.

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Tata Motors announces resignation of director
Dec 20,2016

Tata Motors announced about a letter of resignation from the Companys Chairman, Cyrus Mistry dated 19 December 2016 tendering his resignation with immediate effect.

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Tata Chemicals director resigns
Dec 20,2016

Tata Chemicals announced that Cyrus P. Mistry has tendered his resignation as a Director on the Board of the Company with immediate effect.

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Tata Global Beverages announces resignation of director
Dec 20,2016

Tata Global Beverages announced that Cyrus P. Mistry, Non - Executive Director of Tata Global Beverages has resigned from the Board of the Company with immediate effect.

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