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Dharamsi Morarji Chemical Co redeems preference shares
Dec 30,2016

Dharamsi Morarji Chemical Co announced that the Company out of the proceeds of issue of 5,88,930 equity shares of Rs 10 each at a premium of Rs 91.88 per share issued to Promoter companies, redeemed 6 lakh, 8% redeemable cumulative non-convertible preference shares of Rs 100 each aggregating Rs 6 crore.

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Vinayak Vanijya appoints company secretary and compliance officer
Dec 30,2016

Vinayak Vanijya has appointed Dipika Jain as a Company Secretary and Compliance Officer with effect from 05 December 2016.

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New repeat order boosts Steel Strips Wheels
Dec 30,2016

The announcement was made during market hours today, 30 December 2016.

Meanwhile, the S&P BSE Sensex was up 269.03 points or 1.02% at 26,635.18.

On the BSE, 5,983 shares were traded on the counter so far as against the average daily volumes of 10,989 shares in the past one quarter. The stock had hit a high of Rs 628.95 and a low of Rs 611.40 so far during the day.

The stock had hit a record high of Rs 775 on 14 October 2016 and a 52-week low of Rs 284 on 17 February 2016. It had outperformed the market over the past one month till 29 December 2016, advancing 13.78% compared with the Sensexs 0.11% fall. The scrip had also outperformed the market in past one quarter, gaining 7.85% as against the Sensexs 5.25% fall.

The small-cap company has equity capital of Rs 15.53 crore. Face value per share is Rs 10.

The total order value would be more than $107,000 for supplies in a period of four months. Orders comprise mix of 14, 17 and 18 inch steel wheels to be supplied from the companys Chennai plant with shipments starting from next month.

Net profit of Steel Strips Wheels rose 19.9% to Rs 18.02 crore on 2.8% decline in net sales to Rs 290.95 crore in Q2 September 2016 over Q2 September 2015.

Steel Strips Wheels designs and manufactures automotive steel wheels and is among the leading supplier to Indian and global automobile manufacturers.

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Aurobindo Pharma gains on reports of USFDA nod for 2 generic drugs
Dec 30,2016

Meanwhile, the BSE Sensex was up 271.74 points, or 1.03%, to 26,637.89.

On the BSE, so far 95,000 shares were traded in the counter, compared with average daily volumes of 1.88 lakh shares in the past one quarter. The stock had hit a high of Rs 669.95 and a low of Rs 653.60 so far during the day.

The stock hit a record high of Rs 895 on 6 October 2016. The stock hit a 52-week low of Rs 582 on 25 February 2016. The stock had underperformed the market over the past 30 days till 29 December 2016, falling 12.41% compared with the 1.08% fall in the Sensex. The scrip had also underperformed the market in past one quarter, falling 24.20% as against Sensexs 5.38% decline.

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

According to reports, Aurobindo Pharma received US Food and Drug Administrations (USFDA) approval for Ziprasidone Hydrochloride and Indomethacin. Ziprasidone Hydrochloride, marketed by Pfizer, is used for the treatment of schizophrenia and acute mania. Indomethacin, which is currently marketed in India by Jubilant generics, is used to treat fever, swelling, pain and stiffness. The approval for the drug is in the strength of 75 mg.

On consolidated basis, Aurobindo Pharmas net profit rose 33.53% to Rs 605.64 crore on 12.13% growth in net sales to Rs 3713.58 crore in Q2 September 2016 over Q2 September 2015.

Aurobindo Pharma is an integrated pharma company. It has a presence in key therapeutic segments such as neurosciences, cardiovascular, anti-retrovirals, anti-diabetics, gastroenterology and cephalosporins, among others.

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Board of Info Edge (India) to consider Q3 results
Dec 30,2016

Info Edge (India) announced that a Meeting of the Board of Directors of the Company is proposed to be held on 30 January 2017 to, inter-alia, consider and approve the un-audited Financial Results of the Company for the quarter and nine months ended 31 December 2016 (Q3), subject to limited review by the Statutory Auditors.

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Rockon Enterprises appoints director
Dec 30,2016

Rockon Enterprises announced that the Board of Directors of the company at its meeting held on 30 December 2016 has appointed Aarti Gavnang as an Additional Director of the Company in the category of Non Executive Independent Director with effect from 30 December 2016.

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Firstsource Solutions provides update on US subsidiary
Dec 30,2016

Firstsource Solutions announced that Firstsource Group USA, Inc, a wholly owned subsidiary of the Company has successfully made its Seventh quarterly repayment of USD 11.25 million on its outstanding debt on 31 December 2016.

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During the current Financial Year 2016-17, the Indian Economy continues to consolidate the gains achieved in restoring macro-economic stability
Dec 30,2016

During the current Financial Year 2016-17, the Indian Economy has continued to consolidate the gains achieved in restoring macro-economic stability. Despite the continuing global sluggishness and recent pick-up in petroleum prices, the economic growth has continued to be robust and inflation has remained more or less stable in the current year, while Fiscal Deficit and Current Account Deficit as percentage of GDP have improved. The Growth Rate of the economy during the First Half of the current Financial Year is estimated at 7.2 per cent, which makes India one of the fastest growing major economies in the world. At the sectoral level, the growth rates for agriculture & allied sectors, industry and services sectors for the First Half of the current year are estimated at 2.5 per cent, 5.6 per cent, and 9.2 per cent respectively. The stress given to fiscal consolidation through expenditure rationalization and revenue raising efforts and the focus on administrative measures for cooperative financial governance and also steps towards containing inflation have contributed significantly to macro-economic stability.

Inflation

Inflation measured in terms of Consumer Price Index and Wholesale Price Index has remained in comfort zone during the current Financial Year 2016-17. CPI (Combined) inflation for 2015-16 declined to 4.9 per cent from 5.9 per cent in 2014-15. It averaged 5.2 per cent in 2016-17 (Apr-Oct) and stood at 4.2 per cent in October 2016. Food inflation as measured by Consumer Food Price Index (CFPI) declined to 4.9 per cent in 2015-16 from 6.4 per cent in 2014-15. It averaged 6.1 per cent in 2016-17 (Apr-Oct) and eased to 3.3 per cent in October 2016.WPI inflation declined to (-) 2.5 per cent in 2015-16 from 2.0 per cent in 2014-15. It averaged 2.7 per cent in 2016-17 (Apr-Oct) and stood at 3.4 per cent in October 2016.

As per the revised Monetary Policy Framework, the Government has fixed the inflation target of 4 per cent with tolerance level of +/- 2 per cent for the period beginning from August 5, 2016 to March 31, 2021. The Government monitors the price situation on a regular basis as controlling inflation is a key priority and has taken a number of measures to control inflation especially food inflation. The steps taken, inter alia, include, (i) increased allocation of Rs. 900 crore for Price Stabilization Fund in the budget 2016-17 to check volatility of prices of essential commodities, in particular of pulses; (ii) created buffer stock of pulses through domestic procurement and imports; (iii) announced higher Minimum Support Prices so as to incentivize production; (iv) issued advisory to States/UTs to take strict action against hoarding and black marketing under the Essential Commodities Act 1955 and the Prevention of Black-marketing and Maintenance of Supplies of Essential Commodities Act, 1980.

Trade

Indias merchandise exports (customs basis) declined by 15.5 per cent to US$ 262.3 billion in 2015-16. In 2016-17 (April-October), growth of exports declined by 0.2 per cent (US$ 154.9 billion vis-n++-vis US$ 155.2 billion in the corresponding period of previous year). Imports declined by 15.0 per cent to US$ 381.0 billion in 2015-16. Imports for 2016-17 (April-October) were at US$ 208.1 billion which is lower by 10.9 per cent as compared to US$ 233.4 billion in the corresponding period of previous year. During 2016-17 (April-October), trade deficit decreased to US$ 53.2 billion as against US$ 78.2 billion in the corresponding period of previous year. There has been significant market diversification in Indias trade from Europe and America to Asia and Africa in recent years -a process that has helped in coping up with the sluggish global demand.

Balance of Payments

Current Account Deficit (CAD) narrowed down to US$ 22.2 billion (1.1 per cent of GDP) in 2015-16 as compared to US$ 26.9 billion in 2014-15. CAD narrowed down to US$ 0.3 billion (0.1 per cent of GDP) in 2016-17 (April-June) from US$ 6.1 billion (1.2 per cent of GDP) in corresponding period of the previous year.

Foreign Exchange Reserves

In the current fiscal 2016-17, foreign exchange reserves culminated to US$ 372.0 billion at end September 2016 which reduced to US$ 366.2 billion at end October 2016. Foreign exchange reserves stood at US$ 365.3 billion on 25th November 2016, showing an increase of US$ 5.1 billion over the level of US$ 360.2 billion at end-March 2016. Countrys foreign exchange reserves are at a comfortable position to buffer any external shocks. In the current fiscal 2016-17 (April-November), the average monthly exchange rate of rupee (RBIs reference rate) was in the range of Rs. 66 - 67 per US dollar (Rs. 66.47 per US dollar in April 2016 and Rs. 67.80 per US dollar in November 2016).

External Debt

Indias external debt stock stood at US$ 479.7 billion at end-June 2016, witnessing a decline of US$ 5.4 billion (1.1 per cent) over the level at end-March 2016. The external debt-GDP ratio was 23.4 per cent at end-June 2016, as against 23.7 per cent at end March 2016. The share of long-term external debt in total external debt increased marginally to 82.9 per cent at end-June 2016 from 82.8 per cent at end-March 2016. All external debt indicators show that Indias external debt has remained within manageable limits. India continues to be among the less vulnerable nations in terms of its key debt indicators.

Agriculture and Food Management

Agriculture and allied sectors registered a growth of 2.5 per cent during the first half of 2016-17 as compared to 2.3 percent during the same period in 2015-16. As per the First Advance estimates (1st AE) 2016-17 released by Department of Economics and Statistics, production of Kharif food grains is estimated to increase to 135.03 million tonnes as compared to 124.01 million tonnes in 2015-16 (AE).

The report of the Committee on Incentivising Pulses Production through Minimum Support Price (MSP) and Related Policies set up under the Chairmanship of Dr. Arvind Subramanian, Chief Economic Adviser, Government of India was submitted on 16th September, 2016.The Committee has recommended, among other things, an increase in the minimum support price (MSP) for all pulses, elimination of the export ban and stock limits on pulses, and intensified procurement.

Industry

The data on Index of Industrial Production (IIP) released by the Central Statistical Office (CSO) shows that the production of industrial sector broadly comprising mining, manufacturing and electricity sectors has fallen by 0.3 per cent during April-October (2016-17) as compared to 4.8 per cent growth during April-October (2015-16). The Government has undertaken a number of policy measures including enhanced public investment, kick starting stalled projects, improving governance through systemic changes like open auction for natural resources like coal and spectrum, improving business environment through programmes like Make in India, Ease of Doing Business, Start-up India. The Government has also liberalized and simplified the foreign direct investment (FDI) policy in the sectors like defence, railway infrastructure, construction and pharmaceuticals etc.

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Yes Bank places Rs 330 crore of Green Infrastructure Bonds
Dec 30,2016

Yes Bank has raised Rs 330 crore of Green Infrastructure Bonds through private placement on 29 December 2016. The Bonds carry a coupon of 7.62% p.a and mature on 29 December 2023. The Bonds will be listed on BSE.

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Board of Anjani Synthetics to consider change in registered office
Dec 30,2016

Anjani Synthetics announced that the meeting of the Board of Directors of the Company will be held on 02 January 2017, inter alia in order the transact the following business:To Change the Address of the Registered Office of the Company from 4, NEW CLOTH MARKET, O/S. RAIPUR GATE, AHMEDABAD- 380002, GUJARAT, INDIA TO 221 MALIYA, NEW CLOTH MARKET, O/S. RAIPUR GATE, AHMEDABAD- 380002, GUJARAT, INDIA.

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Nihar Info Global announces appointment of company secretary & CFO
Dec 30,2016

Nihar Info Global has appointed Bhavika Sharma as Company Secretary and Compliance Officer and Ravulakollu Lavanya as Chief Financial Officer.

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Board of Tree House Education & Accessories approves change in directorate
Dec 30,2016

Tree House Education & Accessories announced that the Board of Directors of the company at its meeting held on 30 December 2016 has transacted the following -

Appointed Suraj Manghnani as Additional Director with effect from 30 December 2016.

Taken note of resignation of Chanakya Dhanda and Ram Kumar Gupta as Independent Directors of the company with effect from 15 December 2016 and 16 December 2016 respectively.

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8K Miles Software Services to consider December quarter results
Dec 30,2016

8K Miles Software Services announced that the meeting of the Board of Directors of the Company is scheduled to be held on 09 January 2017 inter-alia, to consider, approve and take on record the unaudited financial results for the quarter ended 31 December 2016.

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Housing Development & Infrastructure leads gainers in A group
Dec 30,2016

Housing Development & Infrastructure (HDIL) jumped 7.7% to Rs 60.15 at 13:11 IST. The stock topped the gainers in the BSEs A group. On the BSE, 17.07 lakh shares were traded on the counter so far as against the average daily volumes of 10.59 lakh shares in the past two weeks.

Kajaria Ceramics surged 7.03% at Rs 470.95. The stock was second biggest gainer in A group. On the BSE, 34,000 shares were traded on the counter so far as against the average daily volumes of 8,196 shares in the past two weeks.

Shree Cement advanced 6.48% to Rs 14,700.05. The stock was third biggest gainer in A group. On the BSE, 655 shares were traded on the counter so far as against the average daily volumes of 8,177 shares in the past two weeks.

Shree Renuka Sugars gained 5.73% at Rs 13.84. The stock was fourth biggest gainer in A group. On the BSE, 8.84 lakh shares were traded on the counter so far as against the average daily volumes of 3.18 lakh shares in the past two weeks.

Arvind rose 5.04% to Rs 351.10. The stock was fifth biggest gainer in A group. On the BSE, 2.74 lakh shares were traded on the counter so far as against the average daily volumes of 1.17 lakh shares in the past two weeks.

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Board of Rashtriya Chemicals & Fertilizers issues Commercial Paoer aggregating Rs 175 cr
Dec 30,2016

Rashtriya Chemicals & Fertilizers announced that in terms of the guidelines issued by the Reserve Bank of India, the Company has issued Commercial Paper for Rs.175 crore on 30 December 2016, in favour of State Bank of India, having maturity date as 30 March 2017.

Further, the Commercial Paper issued on 19 October 2016, for Rs.150 crore, has been redeemed on 30 December 2016.

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