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Cash not much in demand; no more parking space in equities, gold
Sep 12,2016

n++We are in a peculiar situation where the benchmark market indices -NIFTY and Sensex have reached levels, perceived to be high while gold cannot be safe haven option for too long as the yellow metal has seen quite a run in the past eight months. Investment cannot go in the real estate and property markets which are in a state of a mess. So the cash would sit idle in banks, irrespective of higher or lower interest ratesn++, the chamber document noted.

It said there is no investment appetite from the industry which is not even operating at full capacity. Whatever investment is coming in the industry is from the foreign direct investment or for bidding in obligatory natural resources like telecom spectrum.

Explaining the key point as to where too much liquidity is being generated from, in the absence of robust industrial growth or demand, barring a few sectors like automobile, the ASSOCHAM paper said India has been one of the main recipients of large cash being printed by central banks of the developed countries without any takers there, even at the sub-zero interest rates.

n++So, when we look at the elevated levels of valuations in the stock market, we should see with a muted sense of excitement because a large part of it is driven by a global liquidity and absorbing it has its own issues; though in the short term, the trend has helped bring stability in the foreign exchange value of rupee, n++said ASSOCHAM Secretary General Mr D S Rawat.

He said generally when too much money chases too few goods or assets, the prices of latter tend to increase; but not any more.

n++Equities had their run, so is the case with the gold. That leaves real estates. With several top notch builders in a messy situation of not being able to deliver the in-hand projects, there is a tremendous lack of confidence of investors or actual users in the property market. So, that leaves cash idlen++, the paper said.

It said thanks to improved prospects in agriculture following good spell of rains this Monsoon, Indias rural demand coupled with the services sector would keep the rate of economic growth ticking at a decent pace. n++While the increased rural demand would give leg-up to certain industrial segments as well, it would not be to the extent of causing investment in fresh capacityn++.

Besides, the commodity cycle remains muted, though there are some pick up signs, though in a tentative manner. The export demand would too remain mutedn++. n++Thus, the biggest trigger has to be demand for money for fresh investment, which is still far. On the other hand, the asset classes -equities, gold have reached saturation while real estate is in a nursing wardn++.

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HDIL slides after reporting weak Q1 results
Sep 12,2016

The result was announced on Saturday, 10 September 2016.

Meanwhile, the BSE Sensex was down 440.73 points, or 1.53%, to 28,356.52.

On BSE, so far 40,604 shares were traded in the counter, compared with an average volume of 12.95 lakh shares in the past one quarter. The stock hit a high of Rs 96.05 and a low of Rs 93.80 so far during the day.

Housing Development and Infrastructure (HDIL) said that it follows project completion method and accordingly results on quarter to quarter basis may not be comparable.

HDIL is a real estate development company, with significant operations in the Mumbai Metropolitan Region.

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Nutraplus India to allot equity shares
Sep 12,2016

Nutraplus India announced that the allotment committee of the Company at its meeting held on 11 September 2016 has considered and approved the conversion of 6,60,000 warrants into equivalent number of equity shares of Re 1 each.

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MEP Infrastructure Developers provides update on subsidiary
Sep 12,2016

MEP Infrastructure Developers announced that Raima Toll & Infrastructure (RT&IPL), a Wholly Owned Subsidiary of MEP Infrastructure Development (MEP) has received 4 (Four) Letter of Awards (LOA) dated 09 September 2016 from National Highways Authority of India (NHAI) informing that (RT&IPL) has been engaged as n++User Fee Collection Agency through e-quotation (e-tender) for the following projects:-

Kev highlights of the Project(s) are as under;

1. User Fee Collection rights at (i) Salaipudhur Fee Plaza (ii) Ettuvattam Fee Plaza (iii) Kappalur Fee Plaza and (iv) Nanguneri Fee Plaza, on NH-7 in the State of Tamil Nadu (Madurai-Tirunelveli - Panagudi - Kanyakumari Section)

2. Terms of the Contract Agreement:

- Period of the Contract is 3 [Three) months for each Plaza.

- The operations will commence within 5 working days after complying the statutory formalities viz. submission of performance security, signing of contract as per the LOA.

3. The Daily Remittance for (i) Salaipudhur Fee Plaza is Rs. 10,80,000/- (ii) Ettuvattam Fee Plaza is Rs. 10,80,000/- (iii) Kappalur Fee Plaza is Rs. 13,50,000/-and (iv) Nanguneri Fee Plaza is Rs. 11,34,000/-; payable to NHAI.

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Glenmark Pharmaceuticals gets final approval for Lidocaine Ointment
Sep 12,2016

Glenmark Pharmaceuticals has been granted final approval by the United States Food & Drug Administration (U.S. FDA) for Lidocaine Ointment USP, 5%, the generic version of Xylocainen++ Ointment, 5% of AstraZeneca.

According to IMS Health sales data for the 12 month period ending July 2016, the Xylocainen++ Ointment, 5% market achieved annual sales of approximately $373.0 million.

Glenmarks current portfolio consists of 109 products authorized for distribution in the U.S. marketplace and 62 ANDAs pending approval with the U.S. FDA.

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The Government assures that all resources are made available to the Port sector to achieve maximum growth of business
Sep 12,2016

Mumbai Port Trust needs to bring about administrative reforms to develop ability to compete with the private ports, said Minister of State for Shipping, Road Transport & Highways, Chemicals & Fertilizers, Shri Mansukh L. Mandaviya on an inspection visit to Mumbai Port Trust today. He further expressed a need for the port to have a clear vision and road map for development for next ten to twenty years and appealed to all the stakeholders to work in this direction.

The Minister held a meeting with the Deputy Chairman and the Heads of Departments and reviewed the functioning of the Mumbai Port in all its scope and ambit. While reviewing the existing and the future projects undertaken by the Port, the Minister assured that Government would ensure that all resources are made available to the sector to ensure maximum growth of business.

The Minister also visited the Cruise Terminal at BPX Mumbai Harbour and inspected the liquid cargo handling facilities at Jawahar Dweep and Pir Pau. He appreciated the facilities created at Second Chemical Berth, which provides handling capacity of 55000 DWT tankers and capacity to handle 2.5 MMTPA cargo. He was informed that the MPT facilities have provided a lot of advantages mainly to the Public Sector Oil Companies and eliminated the waiting time of oil tankers at Mumbai Port as also reduced the ships turn round time.

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Grasim Industries may gain as board approves increase in equity investment by RFPIs
Sep 12,2016

Grasim Industries said that board of directors on Saturday, 10 September 2016 approved the proposal to increase the limit for investment in the equity share capital of the company by registered foreign portfolio investors from 24% to 30% of the companys paid-up equity share capital of the company. The announcement was made on Saturday, 10 September 2016.

Maruti Suzuki India clarified that the companys Chairman RC Bhargavas statement in the Annual General Meeting (AGM) held on 8 September 2016 was limited to acknowledgement that he would convey requests made by the shareholders during the AGM for consideration of stock split to the board of directors. The company issued the clarification after market hours on Friday, 9 September 2016 after reports stated that Maruti will consider stock split.

Tata Steel announces Q1 result today, 12 September 2016.

Cipla turns ex-dividend today, 12 September 2016 for dividend of Rs 2 per share for the year ended 31 March 2016 (FY 2016).

L&T will be in focus as the initial public offer (IPO) of L&T Technology Services opens for bidding today, 12 September 2016. The IPO closes on Thursday, 15 September 2016. The price band for the IPO has been fixed at Rs 850-860 per share. The IPO comprises of an offer for sale of 1.04 crore shares by engineering and construction major L&T. L&T Technology Services will not receive any funds from the IPO. L&T currently owns 100% stake in L&T Technology Services. Its holding will fall to 89.77% after the IPO. The offer would constitute 10.2% of post-offer paid-up equity share capital of the company. L&T Technology Services provides Engineering, Research and Development (ER&D) services to manufacturing, technology and process engineering companies, to help them develop and build products, processes and infrastructure required to deliver products and services to their end customers.

Jaypee Infratech posted net loss of Rs 35.67 crore in Q1 June 2016 compared with net profit of Rs 20.86 crore in Q1 June 2015. Total income jumped 113.64% to Rs 1099.33 crore in Q1 June 2016 over Q1 June 2015. The result was announced on Saturday, 10 September 2016.

Balkrishna Industries net profit rose 46.64% to Rs 149.05 crore on 1.25% rise in total income to Rs 979.78 crore in Q1 June 2016 over Q1 June 2015. The result was announced on Saturday, 10 September 2016.

Sobhas consolidated net profit rose 1.98% to Rs 35.90 crore on 24.63% rise in total income to Rs 578.20 crore in Q1 June 2016 over Q1 June 2015. The result was announced on Saturday, 10 September 2016.

Reliance Defence and Engineering reported net loss of Rs 134.50 crore in Q1 June 2016 compared with net loss of Rs 167.27 crore in Q1 June 2015. Total income dropped 34.21% to Rs 74.18 crore in Q1 June 2106 over Q1 June 2015. The result was announced on Saturday, 10 September 2016.

Jaiprakash Associates reported net loss of Rs 602.95 crore in Q1 June 2016 compared with net loss of Rs 482.43 crore in Q1 June 2015. Total income decreased 26.99% to Rs 1747.76 crore in Q1 June 2016 over Q1 June 2015. The result was announced on Friday, 9 September 2016.

Jaiprakash Associates said on Saturday, 10 September 2016 that Unit-2 of 660 megawatts (MW) of 1980 MW Bara Supercritical Thermal Power Project, being implemented by Prayagraj Power Generation Company Limited (a material un-listed subsidiary of Jaiprakash Power Ventures Limited (JPVL) a subsidiary of the company), has successfully commenced commercial operations on September 10, 2016.

Housing Development and Infrastructures consolidated net profit fell 30% to Rs 40.89 crore on 2.7% decline in total income to Rs 265.21 crore in Q1 June 2016 over Q1 June 2015. The result was announced on Saturday, 10 September 2016.

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Remi Elecktrotechnik announces change in company secretary
Sep 10,2016

Remi Elecktrotechnik announced that :-

1. H.H. Joshi, is appointed as Company secretary and Compliance Officer of the Company w.e.f. 07 September 2016; and

2. Sunil Saraf has resigned from the position of the Compliance Officer of the Company. He will continue the position of Whole-Time Director of the Company.

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Board of Grasim Industries approves increase in investment limit by RFPIs/ FIIs
Sep 10,2016

Grasim Industries announced that the Board of Directors vide a circular resolution passed on 10 September 2016 has approved the proposal to increase the limits for investment in equity share capital of Company by Registered Foreign Portfolio Investors (including FIIs) from 24% to 30% of the companys total paid up capital, subject to requisite approvals. The board also approved to convene EGM on 10 October 2016.

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Jain Irrigation Systems provides update on subsidiary
Sep 10,2016

Jain Irrigation Systems announced that NaanDanJain Irrigation, a Group Company headquarted in Israel, has signed a contract on 08 September 2016 with Ministry of Agriculture and National Development, Eritrea for supply and installation of Solar Powered Drip Irrigation System of value of 18.7 million Euros.

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Housing Development & Infrastructure standalone net profit declines 29.55% in the June 2016 quarter
Sep 10,2016

Net profit of Housing Development & Infrastructure declined 29.55% to Rs 41.10 crore in the quarter ended June 2016 as against Rs 58.34 crore during the previous quarter ended June 2015. Sales declined 3.28% to Rs 256.35 crore in the quarter ended June 2016 as against Rs 265.03 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales256.35265.03 -3 OPM %47.8156.26 - PBDT47.3170.94 -33 PBT45.4068.90 -34 NP41.1058.34 -30

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Cadila Healthcare standalone net profit declines 70.78% in the June 2016 quarter
Sep 10,2016

Net profit of Cadila Healthcare declined 70.78% to Rs 165.10 crore in the quarter ended June 2016 as against Rs 565.00 crore during the previous quarter ended June 2015. Sales declined 30.78% to Rs 1212.80 crore in the quarter ended June 2016 as against Rs 1752.00 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales1212.801752.00 -31 OPM %19.2541.51 - PBDT271.60740.10 -63 PBT206.80688.30 -70 NP165.10565.00 -71

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Mahindra Lifespace Developers standalone net profit rises 34.21% in the June 2016 quarter
Sep 10,2016

Net profit of Mahindra Lifespace Developers rose 34.21% to Rs 15.30 crore in the quarter ended June 2016 as against Rs 11.40 crore during the previous quarter ended June 2015. Sales declined 15.02% to Rs 88.86 crore in the quarter ended June 2016 as against Rs 104.56 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales88.86104.56 -15 OPM %13.995.75 - PBDT22.1818.47 20 PBT21.1117.47 21 NP15.3011.40 34

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Dhyana Finstock standalone net profit rises 1800.00% in the June 2016 quarter
Sep 10,2016

Net profit of Dhyana Finstock rose 1800.00% to Rs 0.19 crore in the quarter ended June 2016 as against Rs 0.01 crore during the previous quarter ended June 2015. Sales declined 66.67% to Rs 0.01 crore in the quarter ended June 2016 as against Rs 0.03 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales0.010.03 -67 OPM %1900.0033.33 - PBDT0.190.01 1800 PBT0.190.01 1800 NP0.190.01 1800

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Bhushan Steel reports standalone net loss of Rs 656.21 crore in the June 2016 quarter
Sep 10,2016

Net Loss of Bhushan Steel reported to Rs 656.21 crore in the quarter ended June 2016 as against net loss of Rs 728.16 crore during the previous quarter ended June 2015. Sales rose 4.14% to Rs 2954.95 crore in the quarter ended June 2016 as against Rs 2837.54 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales2954.952837.54 4 OPM %27.3619.07 - PBDT-463.24-470.15 1 PBT-759.29-729.57 -4 NP-656.21-728.16 10

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