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L&T may gain after reporting good Q3 results
Jan 30,2017

L&Ts consolidated net profit rose 39% to Rs 972 crore on 1.4% growth in gross revenue to Rs 26287 crore in Q3 December 2016 over Q3 December 2015. The result was announced on Saturday, 28 January 2017.

The companys international revenue at Rs 9590 crore constituted 36% of the total revenue in Q3 December 2016. L&T garnered fresh orders worth Rs 34885 crore at the group level in Q3 December 2016, amid subdued business environment. Consolidated order book of the group stood at Rs 2.58 lakh crore as on 31 December 2016, higher by 1.4% on a year-on-year (yoy) basis.

With regard to future business outlook, L&T said the companys focus would be on selective pursuit of opportunities, working capital reduction, cost optimization through supply chain efficiencies and productivity enhancement through digitalization initiatives. Aided by these initiatives, the company is hopeful of a satisfactory performance given the current business environment.

L&Ts board of directors at its meeting held on 28 January 2017, approved a scheme of amalgamation between the company and its wholly-owned subsidiary Spectrum Infotech, subject to necessary approvals. Spectrum Infotech is engaged in the defence business.

Maruti Suzuki India (Maruti) announced a price increase ranging from Rs 1,500 to Rs 8,014 (ex-showroom Delhi) across models. These new prices were effective from 27 January 2017. The hike in car prices is because of increase in commodity, transportation and administrative costs, Maruti said. The announcement was made after market hours on Friday, 27 January 2017.

Tech Mahindra and HDFC will announce Q3 results today, 30 January 2017.

Bharat Electronics net profit rose 33.34% to Rs 373.54 crore on 30.9% growth in total income to Rs 2268.90 crore in Q3 December 2016 over Q3 December 2015. The result was announced after market hours on Friday, 27 January 2017.

Bharat Electronics board at its meeting held on 27 January 2017, approved 10-for-1 stock split. The board also approved interim dividend of Rs 3 per share for FY 2017.

Jindal Steel & Power announced that it has secured long term coal linkage of a total quantity of 0.5 million tonnes per annum for the next 5 years in the recently concluded coal linkage auction under sponge iron sub-sector, conducted by Coal India. This sourcing of coal will help the company to secure fuel requirements and smooth operations of companys sponge iron units.

The company had earlier secured 1.18 million tonnes of linkage capacity in captive power plant (CPP) sub-sector and with this linkage in sponge iron sub-sector, the total coal linkage capacity of the company will be 1.68 million tonnes per annum. The announcement was made before market hours today, 30 January 2017.

GMR Infrastructure announced that Kakinada SEZ (KSEZ), a subsidiary of the company has signed a series of memorandum of understandings (MoUs) with firms interested in setting up of manufacturing units in Kakinada SEZ during the CII Partnership Summit 2017 held on 27th and 28th January at Visakhapatnam, AP.

GMR Group is developing a world-class Industrial Zone - Kakinada SEZ, spread over 8500 acres and an all-weather, multi-cargo, deep water port, with an estimated phase 1 capacity of 16 million tonnes.

Acknowledging the advantage of Kakinada SEZ which is the largest industrial area with port connectivity in this region, Indian Oil & Gas PSU majors are joining together to set up a cracker unit, with a proposed investment of Rs 40000 crore in 2000 acres of GMRs Kakinada SEZ. MoU has been signed for this investment in Kakinada SEZ, among GAIL, HPCL and Government of Andhra Pradesh, during the CII Partnership Summit, Visakhapatnam, AP.

MoUs were signed by KSEZ with 5 companies which include Oil Country Tubular, Kamineni Steel & Power, United Seamless Tubular, Deepak Phenolics and DCM Shriram for setting up manufacturing facilities with a total investment of Rs 7000 crore spread over 550 acres at Kakinada SEZ Ltd., Kakinada, AP. The announcement was made on Sunday, 29 January 2017.

Apollo Tyres announced that the board of directors of the company at its upcoming meeting to be held on 1 February 2017, proposes to consider and recommend to the shareholders of the company for their approval, further capital raising by the company by way of issuance of equity shares, non-convertible debt instruments along with warrants and/or convertible securities other than warrants through a qualified institutions placement in accordance with applicable laws and subject to receipt of necessary approvals. The announcement was made on Sunday, 29 January 2017.

Gokaldas Exports announced that the company has entered in to a memorandum of understanding with Government of Andhra Pradesh on 27 January 2017, for setting up of 4 apparel manufacturing units over a period of next 3 years in Chittoor district involving an investment of approximately up to Rs 200 crore which is likely to generate approximately 5,000 new jobs.

The investment is however subject to such terms and conditions as requested and sought by the company including appropriate infrastructural support and relevant incentives and subsidies being made available to the company with the Government of Andhra Pradesh. The announcement was made on Saturday, 28 January 2017.

APL Apollo Tubes consolidated net profit fell 3.22% to Rs 30 crore on 26.3% rise in net sales to Rs 946 crore in Q3 December 2016 over Q3 December 2015. The announcement was made on Saturday, 28 January 2017.

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Wipro in focus after declaring Q3 result
Jan 27,2017

Wipros consolidated net profit fell 5.7% to Rs 2110 crore on 6.4% rise in gross revenue to Rs 13690 crore in Q3 December 2016 over Q3 December 2015. The result was as per International Financial Reporting Standards (IFRS). The company expects the revenue from IT Services business to be in the range of $ 1922 million to $1941 million in Q4 March 2017. The result was announced after market hours on Wednesday, 25 January 2017.

Colgate Palmolive (India), Bharat Electronics and ITC will announce their Q3 December 2016 results today, 27 January 2017.

Oberoi Realtys consolidated net profit dropped 60.01% to Rs 84.92 crore on 66.67% slide in total income to Rs 264.82 crore in Q3 December 2016 over Q3 December 2015. The result was announced after market hours on Wednesday, 25 January 2017.

Reliance Communications said that Moodys Investors Service, Inc. (Moody), International rating agency, has revised the companys corporate family rating and Senior Secured Notes rating from n++B1n++ to n++B2n++ with negative outlook. Moody has stated that EBITDA from the companys Indian operations - which contribute around 85% of EBITDA, will remain under pressure over next 6-12 months in light of intensifying competition in Indias mobile sector and the governments demonetization in early November 2016. The announcement was made before market hours today, 27 January 2017.

Cholamandalam Investment and Finance Companys consolidated net profit rose 10.36% to Rs 163.38 crore on 11.73% rise in total income to Rs 1184.44 crore in Q3 December 2016 over Q3 December 2015. The announcement was made after market hours on Wednesday, 25 January 2017.

NLC India scheduled a board meeting on 31 January 2017, to consider buyback of equity shares of the company. The announcement was made after market hours on Wednesday, 25 January 2017.

Ashok Leylands net profit dropped 13.02% to Rs 185.88 crore on 6.01% rise in total income to Rs 4390.71 crore in Q3 December 2016 over Q3 December 2015. The announcement was made after market hours on Wednesday, 25 January 2017.

Mphasis announced that a meeting of board of directors of the company is being convened on 31 January 2017, to consider a proposal for buy-back of shares. The announcement was made after market hours on Wednesday, 25 January 2017.

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Bharti Airtel in spotlight after reporting Q3 results
Jan 25,2017

Bharti Airtels consolidated net profit fell 54.54% to Rs 503.70 crore on 2.85% decline in total income to Rs 23415.60 crore in Q3 December 2016 over Q3 December 2015. The result was announced after market hours yesterday, 24 January 2017.

Bharti Airtels board in its meeting held yesterday, 24 January 2017, approved issuance of non-convertible debentures (NCDs) on a private placement basis. The outstanding under these NCDs shall at all times be within the overall borrowing limits and be subject to a cap of Rs 10000 crore.

Idea Cellular announced that it intends to issue unsecured redeemable non-convertible debentures (NCDs) amounting to Rs 2000 crore on private placement basis. The tenure of NCDs is five years and carry a coupon rate of 8.04% per annum. The announcement was made after market hours yesterday, 24 January 2017.

Wipro announced that TK Kurien, Executive Vice Chairman and member of the board will retire on 31 January 2017. The announcement was made after market hours yesterday, 24 January 2017. The company is scheduled to announce Q3 December 2016 results today, 25 January 2017.

Among other prominent results, Kotak Mahindra Bank and Maruti Suzuki India are scheduled to announce December 2016 quarter results today, 25 January 2017.

Siemens announced that it has won an order worth around Rs 366 crore from Oil and Natural Gas Corporation (ONGC). The order includes supply of material for overhauling of 18 power turbines through zero hour overhaul and time continued overhaul. The announcement was made after market hours yesterday, 24 January 2017.

Wockhardt reported consolidated net loss of Rs 53.91 crore in Q3 December 2016 compared with net profit of Rs 72.04 crore in Q3 December 2015. Total income dropped 10.34% to Rs 1000.81 crore in Q3 December 2016 over Q3 December 2015. The announcement was made after market hours yesterday, 24 January 2017.

Indian Overseas Bank reported a net loss of Rs 554.44 crore in Q3 December 2016, compared to net loss of Rs 1425.06 crore in Q3 December 2015. Total income declined 13.12% to Rs 5599.50 crore in Q3 December 2016 over Q3 December 2015. The result was announced after market hours yesterday, 24 January 2017.

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HUL, Asian Paints and Bharti Infratel in focus after announcing Q3 results
Jan 24,2017

Hindustan Unilevers (HUL) net profit rose 6.82% to Rs 1037.93 crore on 1.51% decline in total income to Rs 8400.38 crore in Q3 December 2016 over Q3 December 2015. The result was announced after market hours yesterday, 23 January 2017.

Harish Manwani, Chairman of HUL said on Q3 results that the gradual recovery of the market was temporarily impacted by adverse liquidity conditions. However, performance demonstrated resilience and agility in the challenging environment.

Asian Paints consolidated net profit rose 1.51% to Rs 489.31 crore on 2.52% growth in total income to Rs 4395.44 crore in Q3 December 2016 over Q3 December 2015. The result was announced after market hours yesterday, 23 January 2017.

Bharti Infratels consolidated net profit rose 25.33% to Rs 620.40 crore on 7.92% growth in total income to Rs 1547.80 crore in Q3 December 2016 over Q3 December 2015. The result was announced after market hours yesterday, 23 January 2017.

Bharti Infratel announced that subject to shareholders approval in the ensuing general meeting, the board of directors in their meeting held yesterday, 23 January 2017, re-appointed D S Rawat as Managing Director & CEO of the company for a further term of three years with effect from 1 April 2017.

Among other prominent results, Bharti Airtel, HCL Technologies, HDFC Bank and Zee Entertainment Enterprises are scheduled to announce December 2016 quarter results today, 24 January 2017.

HDFC announced that it intends to raise Rs 2000 crore through issue of non-convertible debentures on private placement basis. The coupon rate is 7.49% per annum with a tenor of 2 years. The proceeds would be utilized to augment the long-term resources of the company. The announcement was made after market hours yesterday, 23 January 2017.

GIC Housing Finances net profit rose 12.55% to Rs 34.43 crore on 13.6% rise in total income to Rs 253.07 crore in Q3 December 2016 over Q3 December 2015. The announcement was made after market hours yesterday, 23 January 2017.

Trents net profit rose 14.02% to Rs 37.22 crore on 11.6% rise in total income to Rs 453.87 crore in Q3 December 2016 over Q3 December 2015. The announcement was made after market hours yesterday, 23 January 2017.

Adani Power announced that the convertible warrant holders, to whom the warrants were allotted in the month of May 2016 on preferential basis, have exercised their rights for conversion and applied for conversion of part of the warrants into equity shares. Consequently, the management committee of the board of directors of the company at its meeting held yesterday, 23 January 2017, made allotment of total 2.79 crore equity shares of the face value of Rs 10 each with a premium of Rs 22.54 per share to the convertible warrant holders. The announcement was made after market hours yesterday, 23 January 2017.

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UltraTech Cement in spotlight after announcing Q3 results
Jan 23,2017

UltraTech Cements consolidated net profit rose 5.12% to Rs 594.61 crore on 1.36% decline in total income to Rs 6858.47 crore in Q3 December 2016 over Q3 December 2015. The result was announced on Saturday, 21 January 2017.

UltraTech Cements board at its meeting held on Saturday, 21 January 2017, inter alia, approved setting up of a 3.5 million tonnes per annum (MTPA) integrated cement plant at Dhar, Madhya Pradesh.

Among other prominent results, Asian Paints, Hindustan Unilever and Bharti Infratel are scheduled to release December quarter results today, 23 January 2017.

State Bank of India (SBI) announced that the committee of directors for capital raising considered and accorded approval to allot 21.07 crore equity shares on preferential basis to Government of India, at an issue price of Rs 269.59 per share. The announcement was made after market hours on Friday, 20 January 2017.

United Spirits net profit jumped 296.72% to Rs 147.70 crore on 6.77% growth in total income to Rs 7117.79 crore in Q3 December 2016 over Q3 December 2015. The result was announced on Saturday, 21 January 2017.

Indiabulls Housing Finances consolidated net profit rose 24.74% to Rs 751.49 crore on 30.19% growth in total income to Rs 3004.47 crore in Q3 December 2016 over Q3 December 2015. The result was announced after market hours on Friday, 20 January 2017.

NIIT announced that it has received a letter dated 19 January 2017 from AKM Systems, holding 38.46 lakh equity shares constituting 2.32% of total paid up share capital, requesting for its reclassification from the category of n++Promoter/Promoter Groupn++ to Public category. The board of directors has considered the request at its meeting held on 20 January 2017 and approved the same, subject to compliance with other regulatory formalities and requirements. The announcement was made after market hours on Friday, 20 January 2017.

Kalpataru Power Transmission (KPTL) announced that it has secured new orders exceeding Rs 825 crore. Commenting on the new order announcements, Manish Mohnot, Managing Director, KPTL said, the company continued to receive repeat orders from Africa region and has built a reasonable order book for its pipeline and railway business. It expects to close the year with a healthy order book. The announcement was made after market hours on Friday, 20 January 2017.

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Axis Bank in focus after Q3 results
Jan 20,2017

Axis Banks net profit fell 73.35% to Rs 579.57 crore on 15.72% growth in total income to Rs 14501.21 crore in Q3 December 2016 over Q3 December 2015. The result was announced after market hours yesterday, 19 January 2017.

The banks gross non-performing assets (NPA) stood at Rs 20466.82 crore as on 31 December 2016 as against Rs 16378.65 crore as on 30 September 2016 and Rs 5724.05 crore as on 31 December 2015.

The banks ratio of gross NPAs to gross advances stood at 5.22% as on 31 December 2016, as against 4.17% as on 30 September 2016 and 1.68% as on 31 December 2015. The banks ratio of net NPAs to net advances stood at 2.18% as on 31 December 2016, compared with 2.02% as on 30 September 2016 and 0.75% as on 31 December 2015. Axis Banks provisions and contingencies jumped 432.67% to Rs 3795.80 crore in Q3 December 2016 over Q3 December 2015.

State Bank of Mysore said that its board will meet on 24 January 2017, to consider raising upto Rs 1000 crore by issuing Basel III compliant additional tier 1 bonds. The issue parameters will be as decided by the board. The announcement was made after market hours yesterday, 19 January 2017.

Bharti Airtel said that its board will meet on 24 January 2017, to consider raising funds through issue of debentures/bonds through private placement. The announcement was made after market hours yesterday, 19 January 2017.

Adani Ports and Special Economic Zone (APSEZ) said it raised $500 million by allotting fixed rate senior unsecured notes . The said notes will be listed on Singapore Exchange Securities Trading. The announcement was made after market hours yesterday, 19 January 2017.

GMR Infrastructure announced that the international competitive bidding process for the selection of developer for Integrated Retail Development has been completed. This is in addition to 5.67 Lakh square meters (sqm) already developed as Hospitality District at Delhi Aerocity. DIAL has issued the letter of award to design, develop, construct, finance, own, operate and maintain the Integrated Retail Development Project with FSI of 1.96 lakh sqm to Bharti Realty Holdings. The transaction involves upfront payments of Rs 315 crore (including RSD, ADC, bid processing fee) and license fee equivalent to 20% of revenue with minimum guaranteed payments. The effectiveness of the transaction is subject to certain conditions precedents and necessary approvals. The announcement was made after market hours yesterday, 19 January 2017.

MEP Infrastructure Developers said that its subsidiary, MEP Sanjose Arawali Kante Road, achieved financial closure as per the concession agreement executed with the Ministry of Road Transport and Highways (MORTH) dated 28 June 2016 for the rehabilitation and upgradation of Arawali-Kante section of National Highway (NH)-66 in Maharashtra to four lane with paved shoulder under NHDP IV on hybrid annuity mode by tying up of project finance of Rs 266.84 crore. The bid project cost is Rs 592.98 crore out of which project finance will contribute Rs 266.84 crore and remaining will be funded by grant from MORTH and equity contribution by the subsidiary company. The announcement was made after market hours yesterday, 19 January 2017.

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Cipla in spotlight as arm to sell stake in Four M Propack
Jan 19,2017

Cipla announced that its wholly-owned subsidiary Goldencross Pharma has entered in to a definitive agreement to sell its 100% equity stake in Four M Propack, India (Four M Propack) to Shriji Polymers (India) (Shriji Polymers) for a consideration of Rs 13.50 crore and an additional sum derived on the basis of the value of mutual funds, cash and bank balance, tax refunds, etc. at the time of closing estimated at around Rs 5.70 crore. The announcement was made after market hours yesterday, 18 January 2017.

Shriji Polymers is engaged in the business of manufacturing of HDPE bottles and PP caps for the pharmaceutical industry. The turnover of Four M Propack for the financial year ended 31 March 2016 was Rs 9.77 crore which is entirely on account of sales to the company. The net worth of Four M Propack as on 31 March 2016 was Rs 15.82 crore constituting 0.001% of the consolidated net worth of the company. The transaction is expected to be completed within 45 days from date of signing of the definitive agreement, subject to completion of certain condition precedent and receipt of applicable approvals.

Cipla said that none of the persons belonging to promoter/promoter Group(s) of the company has any interest in the transaction and it is not a related party transaction for the company.

Axis Bank and Yes Bank will announce October-December 2016 quarterly results today, 19 January 2017.

NHPC announced that TLDP-III (4 X 33) 132 megawatts (MW) power station in West Bengal has been completely restored on 18 January 2017 which was under complete shutdown for restoration work of GIS (Line-I Bay). The announcement was made after market hours yesterday, 18 January 2017.

Punjab National Bank (PNB) announced that the bank and India Post Payments Bank (IPPB) have signed a memorandum of understanding on 17 January 2017, wherein PNB shall provide technology platform for pilot launch of IPPB on receipt of regulatory approval from the Reserve Bank of India. The announcement was made after market hours yesterday, 18 January 2017.

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Tata Power in focus after non-fossil operating capacity climbs to 3,060 MW
Jan 18,2017

Tata Power, Indias largest integrated power company, announced that its total generation from non-fossil operating capacity stood at 3,060 megawatts (MW), making it the largest renewable energy company in India. The companys robust non-fossil fuel portfolio comprises of 693 MW of Hydro, 918 MW of Solar, 1074 MW of Wind, and 375 MW of waste gas based generation. Taking a step further towards building a greener portfolio last year, the company revised its share of non-fossil fuel based capacity up to 35-40% by 2025. The announcement was made after market hours yesterday, 17 January 2017.

Tata Chemicals said that Brickwork Ratings has revised its rating on the companys non-convertible debentures (NCD) issue of Rs 250 crore. Brickwork Ratings has removed the n++Ratings under watch with developing implicationsn++ for the Rating of BWR AA+ assigned to the NCD issue. The rating now stands at BWR AA+ (Pronounced Double A Plus) (Outlook: Stable). The announcement was made after market hours yesterday, 17 January 2017.

State Bank of India (SBI) said it concluded the issue of $500 million fixed rate senior unsecured notes having a maturity of 5 years at a coupon of 3.25% payable semi-annually under Regulation-S. The bonds will be issued through the banks London branch as of 24 January 2017 and shall be listed on Singapore Stock Exchange. The announcement was made after market hours yesterday, 17 January 2017.

Vijaya Bank said it raised Basel III compliant additional Tier- I Bonds (Series IV) of Rs 325 crore through private placement on 17 January 2017 at coupon rate of 10.49% per annum. The announcement was made after market hours yesterday, 17 January 2017.

Yes Bank announced that it has launched YES FINTECH - a unique business accelerator program in collaboration with T-Hub - Indias fastest growing start-up engine catalysing innovation, scale and deal flow and Anthill, LetsTalkPayments, a global platform for financial technology (Fintech) insights is the knowledge partner.

Yes Bank said it has been collaborating with and supporting more than 100 Fintech start-ups in the country to provide innovative financial solutions to its corporate, small and medium enterprises (SME) and retail customer base as part of its Alliances, Relationships & Technology (A.R.T) approach to digitized banking.

YES FINTECH accelerator will further augment this approach and help the bank co-create disruptive innovations in the financial inclusion, micro, small and medium enterprises (MSME) focused solutions, payments, lending, compliance, risk management, trade finance, capital markets and forex & treasury space. The announcement was made after market hours yesterday, 17 January 2017.

Bharat Wire Ropes said it booked orders of Rs 8 crore approximately out of which a prestigious and special order from defense has been awarded for Rs 6.5 crore approximately. The company has bid for various projects and the outstanding bids/offers are for approximately Rs 60 crore, which are at various stages of evaluation. The announcement was made after market hours yesterday, 17 January 2017.

Rama Steel Tubes announced that a meeting of its board of directors will be held on 25 January 2017, to consider and approve the proposal of fund raising on a private placement basis, subject to shareholders approval. The announcement was made after market hours yesterday, 17 January 2017.

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SBI in focus after raising $500 million from overseas bond sale
Jan 18,2017

State Bank of India (SBI) said it concluded the issue of $500 million fixed rate senior unsecured notes having a maturity of 5 years at a coupon of 3.25% payable semi-annually under Regulation-S. The bonds will be issued through the banks London branch as of 24 January 2017 and shall be listed on Singapore Stock Exchange. The announcement was made after market hours yesterday, 17 January 2017.

Vijaya Bank said it raised Basel III compliant additional Tier- I Bonds (Series IV) of Rs 325 crore through private placement on 17 January 2017 at coupon rate of 10.49% per annum. The announcement was made after market hours yesterday, 17 January 2017.

Yes Bank announced that it has launched YES FINTECH - a unique business accelerator program in collaboration with T-Hub - Indias fastest growing start-up engine catalysing innovation, scale and deal flow and Anthill, LetsTalkPayments, a global platform for financial technology (Fintech) insights is the knowledge partner.

Yes Bank said it has been collaborating with and supporting more than 100 Fintech start-ups in the country to provide innovative financial solutions to its corporate, small and medium enterprises (SME) and retail customer base as part of its Alliances, Relationships & Technology (A.R.T) approach to digitized banking.

YES FINTECH accelerator will further augment this approach and help the bank co-create disruptive innovations in the financial inclusion, micro, small and medium enterprises (MSME) focused solutions, payments, lending, compliance, risk management, trade finance, capital markets and forex & treasury space. The announcement was made after market hours yesterday, 17 January 2017.

Bharat Wire Ropes said it booked orders of Rs 8 crore approximately out of which a prestigious and special order from defense has been awarded for Rs 6.5 crore approximately. The company has bid for various projects and the outstanding bids/offers are for approximately Rs 60 crore, which are at various stages of evaluation. The announcement was made after market hours yesterday, 17 January 2017.

Rama Steel Tubes announced that a meeting of its board of directors will be held on 25 January 2017, to consider and approve the proposal of fund raising on a private placement basis, subject to shareholders approval. The announcement was made after market hours yesterday, 17 January 2017.

Tata Chemicals said that Brickwork Ratings has revised its rating on the companys non-convertible debentures (NCD) issue of Rs 250 crore. Brickwork Ratings has removed the n++Ratings under watch with developing implicationsn++ for the Rating of BWR AA+ assigned to the NCD issue. The rating now stands at BWR AA+ (Pronounced Double A Plus) (Outlook: Stable). The announcement was made after market hours yesterday, 17 January 2017.

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TCS in spotlight after partnering with Aurus
Jan 17,2017

TCS announced a partnership with Aurus, Inc., a global leader in innovative payments technology, to deliver payment solutions for retailers using TCS OmniStore, a first of its kind unified store commerce platform. The omnichannel payment solution facilitates transactions across channels and delivers unmatched convenience and security to both end consumers and retailers. Through this partnership with Aurus, retailers using TCS OmniStore will be able to easily process multiple payments across channels. The announcement was made after market hours yesterday, 16 January 2017.

HCL Technologies after market hours yesterday, 16 January 2017, issued a clarification to the stock exchanges on a law suit filed against HCL America Inc., a wholly owned subsidiary of the company. CultureSphere Inc., a California based corporation, has made certain claims and allegations against HCL America Inc and has filed a suit against HCL America Inc in Santa Clara County Superior Court. While the matter is sub-judice and the company will respect the legal outcome, the company, in the interest of its stakeholders, would like to clarify that the allegations in the lawsuit are totally baseless, and there have been no agreements written or unwritten between the parties, HCL Technologies said. The company added that it will defend its position accordingly.

Infosys announced its internal carbon price at $10.5 per ton of CO2e, at an event organized by the Carbon Pricing Leadership Coalition (CPLC) in Zurich. A significant milestone for Infosys, the price will be applicable for a period of two years and will represent the cost of decarbonizing 1 ton of CO2e. Infosys has been working towards building a clean energy future and has been on track to meet its commitment of becoming carbon neutral in 2018. In addition, Infosys has also committed to reduce its per-capita electricity consumption by 50% from the 2008 level and use 100% renewable power for electricity by 2018. The announcement was made after market hours yesterday, 16 January 2017.

Tata Global Beverages said that its board accorded an in principle approval for divesting its stake in its joint venture, Zhejiang Tata Tea Extraction Company, at an estimated enterprise value of Rs 33 crore, subject to necessary approvals. The transaction will also be subject to completion of negotiations, definitive agreements and satisfaction of conditions precedent. The announcement was made after market hours yesterday, 16 January 2017.

Shriram EPC said it will hold a board meeting on 19 January 2017 for considering the issuance of shares in lieu of the working capital term loan to the corporate debt restructuring (CDR) lenders based on reconciliation with the bankers and considering & approving the issuance of shares upto Rs 35 crore to a private limited company, on preferential basis. Consequent to this, the board would also consider increasing the authorised share capital of the company. The announcement was made after market hours yesterday, 16 January 2017.

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RIL in spotlight after Q3 results
Jan 17,2017

On a consolidated basis, Reliance Industries (RIL) net profit rose 3.6% to Rs 7506 crore on 16.1% increase in turnover to Rs 84189 crore in Q3 December 2016 over Q3 December 2015. Profit before depreciation, interest, and taxes (PBDIT) increased by 3.9% to Rs 14215 crore in Q3 December 2016 over Q3 December 2015. Profit Before Tax increased by 3.7% to Rs 10213 crore in Q3 December 2016 over Q3 December 2015. Cash Profit increased by 2.3% to Rs 10586 crore in Q3 December 2016 over Q3 December 2015. The result was announced after market hours yesterday, 16 January 2017. The result is as per Indian Accounting Standards (Ind AS).

Bharat Petroleum Corporation (BPCL) said that it received in-principle approval for merger of Petronet CCK (PCCKL) with itself. PCCKL is a wholly-owned subsidiary of BPCL. The announcement was made after market hours yesterday, 16 January 2017.

TCS announced a partnership with Aurus, Inc., a global leader in innovative payments technology, to deliver payment solutions for retailers using TCS OmniStore, a first of its kind unified store commerce platform. The omnichannel payment solution facilitates transactions across channels and delivers unmatched convenience and security to both end consumers and retailers. Through this partnership with Aurus, retailers using TCS OmniStore will be able to easily process multiple payments across channels. The announcement was made after market hours yesterday, 16 January 2017.

HCL Technologies after market hours yesterday, 16 January 2017, issued a clarification to the stock exchanges on a law suit filed against HCL America Inc., a wholly owned subsidiary of the company. CultureSphere Inc., a California based corporation, has made certain claims and allegations against HCL America Inc and has filed a suit against HCL America Inc in Santa Clara County Superior Court. While the matter is sub-judice and the company will respect the legal outcome, the company, in the interest of its stakeholders, would like to clarify that the allegations in the lawsuit are totally baseless, and there have been no agreements written or unwritten between the parties, HCL Technologies said. The company added that it will defend its position accordingly.

Infosys announced its internal carbon price at $10.5 per ton of CO2e, at an event organized by the Carbon Pricing Leadership Coalition (CPLC) in Zurich. A significant milestone for Infosys, the price will be applicable for a period of two years and will represent the cost of decarbonizing 1 ton of CO2e. Infosys has been working towards building a clean energy future and has been on track to meet its commitment of becoming carbon neutral in 2018. In addition, Infosys has also committed to reduce its per-capita electricity consumption by 50% from the 2008 level and use 100% renewable power for electricity by 2018. The announcement was made after market hours yesterday, 16 January 2017.

Tata Global Beverages said that its board accorded an in principle approval for divesting its stake in its joint venture, Zhejiang Tata Tea Extraction Company, at an estimated enterprise value of Rs 33 crore, subject to necessary approvals. The transaction will also be subject to completion of negotiations, definitive agreements and satisfaction of conditions precedent. The announcement was made after market hours yesterday, 16 January 2017.

TeamLease Services said it signed a definitive agreement to acquire 100% shares in Keystone Business Solutions, a company incorporated under Companies Act, 1956 through its wholly owned subsidiary, TeamLease Staffing Services. The proposed acquisition does not fall within related party transaction and the promoters of the company have no interest in the entity proposed to be acquired. The consideration involved in the transaction is Rs 8.2 crore payable in cash. Keystone Business Solutions was incorporated on 25 June 2009 which offers IT staffing solutions. It operates through its registered office situated in Bangalore, India. The indicative time period for completion of the acquisition is on or before 31 January 2017. The announcement was made after market hours yesterday, 16 January 2017.

Shriram EPC said it will hold a board meeting on 19 January 2017 for considering the issuance of shares in lieu of the working capital term loan to the corporate debt restructuring (CDR) lenders based on reconciliation with the bankers and considering & approving the issuance of shares upto Rs 35 crore to a private limited company, on preferential basis. Consequent to this, the board would also consider increasing the authorised share capital of the company. The announcement was made after market hours yesterday, 16 January 2017.

Delta Corp said it was issued a licence for operations of a casino in Gangtok, Sikkim, under the Sikkim Casino (Control &Tax) Act, 2002. The company is fully ready to commence its casino operations and will do so immediately. The announcement was made after market hours yesterday, 16 January 2017.

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Coal India in focus after hiking coking coal price
Jan 16,2017

Coal India will be watched. The board of directors of Central Coalfields a subsidiary of Coal India approved revision of coking coal prices 14 January 2017. The increase in price is done by subsuming the washery recovery charge (WRC) which was being charged separately in the case of non-linked washery grade coking coal keeping in view the observation of ADRM. Due to this revision, Coal India (CIL) will earn approximately additional revenue of Rs 89.98 crore for the balance period of financial year 2016-2017, i.e. from 13 January 2017 to 31 March 2017 and additional revenue of Rs 222 crore for financial year 2017-2018 subject to achievement of production and dispatch target norms. The announcement was made on Saturday, 14 January 2017.

Shares of auto and public sector oil marketing companies (PSU OMCs) will be watched. PSU OMCs hiked petrol prices by Rs 0.42 a litre (excluding State levies) on Sunday, 15 January 2017 and diesel rate by Rs 1.03 a litre (excluding State levies).

DCB Banks net profit rose 24.5% to Rs 51.30 crore on 28.8% increase in operating income to Rs 614.31 crore in Q3 December 2016 over Q3 December 2015. The result was announced on Saturday, 14 January 2017.

NBCC (India) has fixed 21 February 2017 as the record date for 1:2 bonus issue of shares. The announcement was made after trading hours on Friday, 13 January 2017.

Pokarna said that its wholly owned subsidiary, Pokarna Engineered Stone (PESL), plans to expand quartz surfaces production capacity by 130% with investment of Rs 325 crore in a greenfield facility. This investment is expected to be completed by June 2018 and PESL would finance this project through a combination of free cash flow/internal accruals (Rs 75 crores) and loan facilities (Rs 250 crore); PESL is in receipt of financial sanction from its lead banker, for the term loan of Rs 250 crore, for funding the project. Further Pokarnas board has approved extending corporate guarantee for the loan facilities to he extended to PESL. The announcement was made after trading hours on Friday, 13 January 2017.

Hind Rectifiers said that its board approved raising upto Rs 12 crore by issuing equity shares to the existing shareholders of the company on a rights basis. The announcement was made on Sunday, 15 January 2017.

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TCS in focus after declaring Q3 result
Jan 13,2017

IT major TCS consolidated net profit rose 2.9% to Rs 6778 crore on 1.5% increase in revenue to Rs 29735 crore in Q3 December 2016 over Q2 September 2016. The companys consolidated revenue in constant currency grew 2% in Q3 December 2016 over Q2 September 2016. The result was announced after market hours yesterday, 12 January 2017. The results are as per International Financial Reporting Standards (IFRS).

In the quarter ended 31 December 2016, total employees count stood at 378,497. The company reported gross addition of 18,362 employees. Attrition declined further to 11.3% (LTM) in IT services in Q3 December 2016 over Q2 September 2016.

During Q3, growth was led by energy & utilities (up 5.8% sequentially), Hi-Tech (up 2.6% sequentially), BFSI (up 2.1% sequentially), Manufacturing (up 2.1% sequentially) and Retail (up 1.9% sequentially) in constant currency.

From a geography perspective, emerging markets like Latin America and India clocked double digit growth of 12.5% and 10.3% sequentially respectively while North America grew 2.2% sequentially and UK grew 1.7% sequentially.

From a services perspective, strength in growing segments like Platforms, Cloud and Internet of Things is evident from the growth in Asset Leveraged Solutions (up 21% sequentially), Infrastructure services (up 9.5% sequentially) and Engineering and Industrial Services (up 3.1% sequentially).

Commenting on the Q3 performance, CEO and MD, N Chandrasekaran said that the resilience of the companys business model and strength of its operating strategy has been brought to the fore by its performance in Q3, traditionally a quarter of weak demand. TCS strengths in digital, platforms and cloud as well as its deep knowledge of the customers domain are driving its ability to play a strategic role and make a holistic impact on the business.

Chandrasekaran added that to support and sustain the companys digital business that is growing at 30% on an annual basis, it continues to build new capabilities in digital technologies, empower employees to enhance agility in the workplace and invest more to develop IP-based platforms and products. Some of these products and platforms are maturing with greater customer adoption while others continue to be incubated in our In novation labs. As digital adoption increases in 2017, TCS is well prepared to lead this change.

Rajesh Gopinathan, Chief Financial Officer, said that TCS has shown great discipline and control at all levels to deliver another credible quarter. Alongside a good growth performance, the company has been able to keep profitability stable in the desired range and deliver over $1 billion in free cash flow during the quarter.

Meanwhile, TCS after market hours yesterday, 12 January 2017 announced that Rajesh Gopinathan has been appointed as Chief Executive Officer (CEO) and Managing Director of the company.

Shares of Tata Group companies including TCS, Tata Metaliks, Tata Steel, Tata Communications, Tata Global Beverages, Tata Chemicals, Tata Motors, Tata Investment Corporation, Tata Power, Tinplate Company of India, Rallis India, Tata Sponge Iron, Tata Teleservices (Maharashtra) and Tata Coffee will be in focus after Natarajan Chandrasekaran was appointed as the new chairman of Tata Sons from 21 February 2017. Earlier Tata Sons, the holding company of the Tata Group, had in October 2016 replaced Cyrus P. Mistry as chairman of Tata Sons.

Infosys will announce its Q3 December 2016 results today, 13 January 2017.

JSW Energy said that its board meeting has been rescheduled to 23 January 2017. The board will consider raising of long term funds through the issuance of non-convertible debentures by way of a private placement. The board will also consider the companys earnings for the quarter and nine months ended 31 December 2016. The announcement was made after market hours yesterday, 12 January 2017.

Mahindra Lifespace Developers (MLDL), the real estate and infrastructure development arm of the Mahindra Group, signed an memorandum of understanding (MoU) with the Government of Gujarat, through a 100% subsidiary, to establish a 350-acre (approximately), multi-product industrial park near Ahmedabad. The proposed new industrial park marks Mahindra Lifespaces foray into Gujarat and is being planned to cater to non-polluting industries. The industrial park is expected to create direct and indirect employment for about 12,000 persons, when fully operational. The proposed multi-product industrial park will be developed under the aegis of Gujarat industrial Policy 2015. The announcement was made after market hours yesterday, 12 January 2017.

Bharti Airtel will be watched. Airtel Payments Bank, Indias first payments bank, commenced national operations yesterday, 12 January 2017, with services now LIVE in all 29 States of India. Arun Jaitley, Union Minster of Finance and Corporate Affairs, formally launched Airtel Payments Banks national operations yesterday, 12 January 2017. The announcement was made after market hours yesterday, 12 January 2017.

Airtel Payments Bank, a fully digital and paperless bank, aims to take basic banking services to the doorstep of every Indian by leveraging Airtels vast retail network. Over 250,000 neighbourhood Airtel retail stores across the country will also function as banking points, and customers will be able to open savings accounts, deposit and withdraw cash across any of these banking points. Airtel Payments Bank will not charge any processing fee from its customers and merchants partners for digital transactions, thereby encouraging them to adopt cashless payments.

Bharat Financial Inclusion said that the company on 12 January 2017 assigned a pool of receivables of an aggregate value of Rs 313.78 crore to one of the largest public sector banks on direct assignment basis as per the guidelines prescribed by the Reserve Bank of India. This is the second direct assignment transaction during FY17. This may be one of the largest assignment transactions in the microfinance industry post demonetization. The announcement was made after market hours yesterday, 12 January 2017.

Mastek said that the closing formalities in relation to the share purchase agreement for acquisition of 100% equity shares of Trans American Information Systems have been completed and consequently, Trans American Information Systems has become a wholly owned subsidiary of the company. The announcement was made before market hours today, 13 January 2017.

Further the company informed that Digility Inc., U.S., an overseas first level step down subsidiary of the company, has completed the acquisition of TaisTech LLC, USA and Trans American Information Systems Inc. USA. Pursuant to the acquisition, TaisTech LLC, USA and Trans American Information Systems Inc. USA have become wholly owned subsidiaries of Digility Inc., U.S. and consequently, they have also become step down wholly owned overseas subsidiaries of the company.

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TCS in focus ahead of Q3 results
Jan 12,2017

Shares of Tata Consultancy Services (TCS) will be in focus ahead of its Q3 December 2016 results today, 12 January 2016.

NTPC said that the board of directors of the company has accorded investment approval for Dulanga coal mining project having rated production capacity of 7 MTPA at an appraised estimated cost of Rs 1053.41 crore. The announcement was made after market hours yesterday, 11 January 2017.

Biocon and Mylan N V announced that the US Food and Drug Administration (FDA) has accepted Mylans biologics license application (BLA) for MYL-1401O,a proposed biosimilar trastuzumab, for filing through the 351(k) pathway. This product is a proposed biosimilar to branded trastuzumab,which is indicated to treat certain HER2-positive breast cancers. The anticipated FDA goal date set under the Biosimilar User Fee Act(BsUFA) is 3 September 2017. The announcement was made after market hours yesterday, 11 January 2017.

Adani Ports and Special Economic Zone (APSEZ) said that its Finance Committee has executed the agreements pertaining to issuance of fixed rate senior unsecured notes (Notes) instead of the draft of the aforesaid agreements being approved by the Finance Committee in the earlier meeting. The announcement was made before market hours today, 12 January 2017.

APSEZ announced on 10 January 2017 that pursuant to the powers delegated to the Finance Committee by the board of directors of the company, the Finance Committee had reviewed and approved the preliminary offering circular in relation to the proposed issuance of foreign currency denominated bonds (Notes) in US dollars by the company. The issuance of notes offering may follow, subject to market conditions.

Dewan Housing Finance Corporation said that the company proposes to seek the approval of its board of directors at a meeting scheduled to be held on 16 January 2017, for raising funds by way of issue of preference shares. The announcement was made after market hours yesterday, 11 January 2017.

MRF said it signed a memorandum of understanding (MoU) with the Government of Gujarat expressing its in-principle intention to set up a new manufacturing facility in Gujarat for manufacturing automotive tyres, tubes, flaps and related products. The company proposes to invest a sum of about Rs 4500 crore over a ten year period in a phased manner. The new plant is planned to be set up in Gujarat with the intention of broad basing the companys manufacturing facilities across India. The project will be funded by internal accruals and / or debt. The announcement was made after market hours yesterday, 11 January 2017.

Atlanta said it has been declared as a preferred bidder for six laning a section of National Highway (NH)-8 in Gujarat under NHDP Phase V (Package-VI) on hybrid annuity mode at a total project cost of Rs 1292 crore by the National Highways Authority of India (NHAI). The company will form a special purpose vehicle (SPV) for the implementation of the said project. The announcement was made after market hours yesterday, 11 January 2017.

Ballarpur Industries said that India Ratings & Research (a Fitch Group Company) has revised the Long-Term Issuer Rating and the ratings on its non-convertible debenture to IND BBB- from IND A-, while resolving the Rating Watch Evolving. The announcement was made after market hours yesterday, 11 January 2017.

Mahindra Holidays & Resorts India, through Covington S.a.r.I, Luxembourg (Covington), its step-down subsidiary, has increased its stake in Holiday Club Resorts Oy, Finland (HCR) by acquiring additional 6.33% stake in the share capital of HCR. Consequently, its stake in HCR has been increased to 91.94% from 85.61% earlier. The announcement was made after market hours yesterday, 11 January 2017.

Great Eastern Shipping Company said that a meeting of the debenture issue committee is scheduled on 16 January 2017, to consider the issue of unsecured non-convertible debentures upto an amount not exceeding Rs 500 crore by way of private placement. The announcement was made after market hours yesterday, 11 January 2017.

Murudeshwar Ceramics said that a meeting of the board of directors of the company will be held on 25 January 2017 to consider issue of equity shares / convertible warrants to the promoter / promoters group companies on preferential basis. The announcement was made after market hours yesterday, 11 January 2017.

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Tata Motors in spotlight after declaring global wholesales for December
Jan 11,2017

Tata Motors will be watched. The Tata Motors Group global wholesales rose 4% to 95,081 units in December 2016 over December 2015. Global wholesales of all Tata Motors commercial vehicles and Tata Daewoo range fell 5% to 30,879 units in December 2016 over December 2015. Global wholesales of all passenger vehicles rose 8% to 64,202 units in December 2016 over December 2015.

Global wholesales for Jaguar Land Rover (JLR) were 53,063 vehicles (*Contains CJLR volume of 8,184 for the month of December 2016). Jaguar wholesales for the month were 15,879 vehicles, while Land Rover wholesales for the month were 37,184 vehicles. The announcement was made after market hours yesterday, 10 January 2017.

Somany Ceramics said that the company has issued commercial paper of Rs 15 crore value dated 10 January 2017 having maturity on 24 March 2017. The issuance of commercial paper is to reduce high interest bearing cash credit limits and in turn reducing cost of borrowing. The announcement was made after market hours yesterday, 10 January 2017.

Endurance Technologies said that the companys wholly owned subsidiary in Germany, Endurance Amann GmbH, has commenced operations at its new machining plant from 10 January 2017. The plant is located at Massenbachhausen, Germany, in proximity to the existing two plants of Endurance Amann GmbH. The new plant admeasuring about 4,500 square meters will contain machining operations, warehouse and office facilities. The announcement was made after market hours yesterday, 10 January 2017.

Hind Rectifiers said that its board will meet on 15 January 2017, to consider, in principle, the issue of equity shares on a right basis to the existing equity shareholders of the company. The announcement was made after market hours yesterday, 10 January 2017.

Shiva Cement said that the board of directors of the company at its meeting held on 10 January 2017, has approved the potential sale of certain shares held by the promoters of the company to JSW Cement and to execute the share purchase agreement or such other agreements as may be required for giving effect to the potential transactions. The announcement was made before market hours today, 11 January 2017.

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