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IIFL Holdings provides update on step down subsdiary
Dec 28,2016

IIFL Holdings announced that IIFL Wealth Finance (IIFL Wealth Finance), a step down material subsidiary engaged in NBFC business under IIFL Wealth Management, has appointed P. Vijay Bhaskar as an Independent Director on the Board of IIFL Wealth Finance.

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Navin Fluorine International to announce December quarter results
Dec 28,2016

Navin Fluorine International announced that a Meeting of the Board of Directors of the Company will be held on 21 January 2017, inter alia, to consider and take on record, the Un-Audited Financial Results of the Company for the quarter ended 31 December 2016.

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Dilip Buildcon gets upgradation in long term issuer rating
Dec 28,2016

Dilip Buildcon announced that the India Rating & Research (Ind-Ra) has upgraded the Companys long term Issuer rating and the Long Term rating on its Bank Facilities to IND A from IND A- while resolving the Rating Watch Positive (RWP). The Outlook is Stable. The agency has also upgraded the short term rating on DBLs bank facilities to IND A1 from INDA2+.

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Kuantum Papers gets revision in ratings for various facilities
Dec 28,2016

Kuantum Papers announced that Credit Analysis & Research (CARE) has reviewed credit ratings for the Companys Fixed Deposits, long term and short term Bank Facilites and has upgraded the external rating to CARE BBB+; Stable (Triple B plus; Outlook; Stable) for long term Bank Facilites, CARE A2 (A Two) for short term Bank Facilites and CARE BBB+ (FD); Stable [Triple B plus (Fixed Deposit); Outlook; Stable] for Fixed Deposits.

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Suyog Telematics receives Letter of Acceptance from MSRDC
Dec 28,2016

Suyog Telematics has received a letter of acceptance from Maharashtra State Road Development Corporation (MSRDC) with respect to bid(s) submitted for installing BTS Equipment on poles along Bandra Worli Sea Link in Mumbai for a period of 5 years on a as is where is basis.

This letter of acceptance allows the Company to install BTS Equipment on 35 poles along Bandra Worli Sea Link on a as is where is basis for a period of 5 years.

The Company expects to complete the remaining formalities shortly and make these sites active for revenue generation in Q4 of FY 2016-17.

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Asia Pacific Market: Stocks up on rising risk appetite
Dec 28,2016

Asia Pacific share market mostly up on Wednesday, 28 December 2016, helped by positive cues from the Wall Street overnight on strong U.S. housing and consumer data and higher commodity prices. MSCIs broadest index of Asia-Pacific shares outside Japan was up 0.4% to 134.77.

Overnight, the Nasdaq Composite rose 0.5% to a fresh record high, while the Dow Jones Industrial Average closed in on the key 20,000-point mark on robust data and hopes that President-elect Donald Trumps corporate tax cuts and economic stimulus will boost the worlds biggest economy. Consumer confidence in the U.S. rose to 113.7 in December, its highest reading since August 2001, according to data released on Tuesday, up from a revised 109.4 in November.

Crude oil prices remained firm on Wednesday on expectations of tighter supply, as the first output cut deal between OPEC and non-OPEC producers in 15 years takes effect on Sunday. On the New York Mercantile Exchange, light, sweet crude futures for delivery in February rose 31 cents, or 0.6%, to $54.21 a barrel. February Brent crude on Londons ICE Futures exchange climbed 34 cents, or 0.6%, to $56.42 a barrel.

Most market participants are waiting to see if major oil producers inside and outside the Organization of the Petroleum Exporting Countries will deliver on pledges to curtail production beginning next month. The deal, if carried out as planned, should reduce global supply by about 2%.

Among Asian bourses

Australia Market surges to 17 month peak

Australian share market finished at highest in nearly 17 months, after a four-day weekend, led by a rally among commodities stocks. The S&P/ASX 200 index ended 1%, or 57.05 points, higher at 5,685, the highest close since Aug 4, 2015. Rising stocks outnumbered declining ones on the Australia Stock Exchange by 666 to 319 and 272 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 15.42% to 12.169.

Shares of metal mining players registered the strongest gains on tracking jump in commodity prices, particularly copper and iron ore. Fortescue Metals gained 3.5% toA$5.97, while Rio Tinto rose 2.4% to A$60.17 and BHP Billiton, which has significant oil exposure, rose 3.3% to A$25.44.

Oil and gas producers were stronger on the back of firmer crude oil prices. Woodside Petroleum eased marginally 0.03% to A$31.67, while Oil Search climbed 1.4% to A$7.06, Santos 2.3% to A$4.04, and origin Energy 0.9% to A$6.50.

Woolworths shares rose by 1.9% to A$24.31 after the supermarket giants announced it will sell its 527 petrol stations to oil major BP - subject to ACCC approval - in a $1.8 billion deal. Caltex Australia, which failed in its bid for the Woolworths outlets, dropped 2% to A$29.99.

Japan Stocks end mixed

The Japan share market closed mixed after wavering between trading positive and negative, as mixed Japanese industrial production and retail sales data dented investors sentiment. Total 21 out of 33 TSE industry category on the main section gained ground, with Nonferrous Metals, Iron & Steel, Machinery, Marine Transportation, and Metal Products issues being major gainers, while Rubber Products, Textiles & Apparels, Foods, and Pharmaceutical issues being notable losers. The benchmark Nikkei 225 index ended down 0.01%, or 1.34 points, to 19,401.72. A broader Topix index of all first-section issues gained 0.58 points, or 0.04%, to 1536.80.

Shares in Toshiba Corp. tumbled 20% after the company disclosed that overrun costs at its U.S. nuclear reactors under construction will likely lead to several billion dollars worth of write downs.

Shares of Hitachi Koki surged 16%, following a report that industrial power tool maker parent Hitachi gave U.S. private-equity firm Kohlberg Kravis Roberts preferential negotiating rights to buy its Hitachi Koki unit.

The Japans Ministry of Economy, Trade and Industry has released preliminary retail sales data on Wednesday, showing retail sales rose 1.7% on year in November, marking the first rise in nine months after drop of 0.2% in October and fall of 1.7% in September. The rebound prompted the government to revise up its assessment of retail sales which have been depressed amid uncertainty over economic growth and slow wage hikes. Retail sales rose 0.2% on month in November on a seasonally adjusted basis for the third straight gain after surging 2.5% in October.

The Japans Ministry of Economy, Trade and Industry has released preliminary industrial production data on Wednesday, showing Industrial production up 1.5% from the previous month in November. It was the first rise in two months after being flat (revised from +0.1%) in October and +0.6% in September. METI forecasted a factory output growth of 2% on month in December 2017 (revised up from -0.6% projected last month) and growth of 2.2% in January 2017.

China Stocks end lower

Mainland China stock market closed lower in light trading, as tightening liquidity towards the year-end weighed on volumes. Meanwhile, the regulators latest measures to curb big investment in the stock market by insurance companies also weighed on sentiments. The Shanghai Composite Index dropped 0.4% to 3,102.24 while the CSI 300 Index, which tracks large companies in Shanghai or Shenzhen, closed 0.44% lower at 3,301.89. The Shenzhen Composite Index, which tracks stocks on Chinas second exchange, slid 0.37% to 1,972.35. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, fell 0.58% to close at 1,957.16 points.

Investors concerns about market tighter liquidity reignited after the Peoples Bank of China, through a series of open market operations, withdrew CNY60 billion of capital on Wednesday, the third consecutive net drain this week, resulting in a total net drain of CNY280 billion week to date.

Investor confidence was shaken by Wednesdays media reports that the vice chairman of the China Insurance Regulatory Commission (CIRC) had said insurers were not platforms to enrich speculators. Also on Wednesday, CIRC said it had suspended two insurers from online insurance business and ordered them not to apply for new product approvals for three months - the latest move to put insurers under closer supervision.

All sectors in China stepped back, with the biggest declines seen in infrastructure and property shares, both down around 1%. Strength in commodities helped offset some bearish sentiment towards raw materials and energy shares, with rebar and coke futures soaring around 5% and 7% respectively.

Hong Kong Stocks up 0.8%

The Hong Kong stock market closed up, after having enjoyed long Christmas holiday, helped by tracking overnight gains on Wall Street and a surge in China-related shares. Hong Kongs benchmark Hang Seng Index closed 0.83% higher at 21,754.74. The Hang Seng China Enterprises Index, known as the H-shares index, added 1.29% to 9,300.63. Turnover increased to HK$51.5 billion from HK$50.4 billion on Friday. Markets were closed on Monday and Tuesday for Christmas holidays.

Market heavyweights were mixed. China Mobile (00941) rose 0.68% to HK$81.05, while HSBC (00005) dipped 0.4% to HK$61.95.

Chinese banks gained broadly after a CBRC official proposed RRR cut at an appropriate time. CCB (00939) surged 4.8% to HK$5.89, making itself the top blue-chip gainer. ICBC (01398) put on 1.11% to HK$4.54. Bank of China (03988) gained 1.19% to HK$3.39 while ABC (01288) rose 0.96% to HK$3.16.

Tencent (00700) gained 2.17% to HK$183.6 after the internet group, Chinese digital mapping company NavInfo and Singapores sovereign wealth fund GIC agreed to buy a 10% stake in mapping company HERE.

Sensex, Nifty close flat

Indian market washed out earlier gains to finish almost flat today due to fag-end selling pressure from operators ahead of the expiry of futures and options December contract on Thursday. The Sensex fell 2.76 points or 0.01% to settle at 26,210.68, its lowest level since 26 December 2016. The Nifty 50 index rose 2 points or 0.02% to settle at 8,034.85, its highest closing level since 21 December 2016.

The market sentiment was boosted initially after data showed that domestic institutional investors made substantial purchases of Indian stocks on Tuesday. Domestic institutional investors (DIIs) bought shares worth a net Rs 1502.41 crore on Tuesday as per provisional data while foreign portfolio investors (FPIs) sold shares worth a net Rs 712.17 crore Tuesday.

Pharma shares extended yesterdays gains as the rupee continued to weaken against the dollar. A weak rupee boosts the value of overseas earnings of pharma firms in local terms. Pharma companies derive substantial revenue from exports. Aurobindo Pharma (up 1.33%), Cipla (up 0.11%), Dr Reddys Laboratories (up 0.9%), Glenmark Pharmaceuticals (up 0.82%), Lupin (up 0.63%), Sun Pharmaceutical Industries (up 0.16%), Alkem Laboratories (up 0.76%), and Wockhardt (up 0.77%) gained. GlaxoSmithKline Pharmaceuticals (down 0.43%) fell.

Cadila Healthcare rose 0.2% after the company issued clarification with regard to media reports of receiving warning letter from the United States Food and Drug Administration. Cadila Healthcare in its clarification issued to the stock exchanges during market hours today, 28 December 2016, said that Zydus Discovery DMCC, a 100% subsidiary of Cadila Healthcare has received an untitled letter and not a warning letter from the United States Food and Drug Administration (USFDA), as being projected in media reports.

Bharti Infratel rose 2.31% to Rs 339.30 on reports that a foreign brokerage has upgraded the stock to neutral from underperform. The foreign brokerage reportedly said though Bharti Infratel continues to face headwinds in the near term including headwinds from increased competition and consolidation by mobile operators, the risk-reward is more balanced after recent underperformance.

South Korea stocks fall 0.87%

South Korea share market declined, with the Kospi down 0.87% or 17.68 points at 2,024.49, as the east Asian country remains mired in a complicated political crisis, involving President Park Geun-hye who has been impeached. On Wednesday morning, the special prosecution investigation team arrested the National Pension Service chairman, Moon Hyung-pyo, but did not provide further details. In November, two presidential aides were arrested for being involved in a corruption scandal.

Singapore shares close 0.4% up

Singapore share market ended stronger, with the Straits Times Index advancing 0.4%, or 12.54 points, to 2,898.3. The blue-chip index was boosted after a recovery in oil prices and post-Christmas holiday cheer on Wall Street.

The most actively traded counter was Noble Group, which rose S$0.007 to S$0.169 with 121.2 million shares changing hands. Other actives included Ezra Holdings and Equation Summit.

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India Finsec acquires shares in IFL Housing Finance
Dec 28,2016

India Finsec has made investment of Rs. 5,00,000/- in IFL Housing Finance, via purchase of 50000 Equity Shares @10/- each.

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Board of Kirloskar Brothers to consider Q3 and 9M results
Dec 28,2016

Kirloskar Brothers announced that a meeting of Board of Directors of the Company is scheduled to be held on 27 January 2017, inter alia, to consider and approve the Unaudited Financial Results for the quarter and nine months ended on 31 December 2016,

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Dhanuka Commercial to hold EGM
Dec 28,2016

Dhanuka Commercial announced that the Extra Ordinary General Meeting (EGM) of the Company will be held on 21 January 2017.

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Board of JK Tyre & Industries approves raising of funds upto Rs 1000 cr
Dec 28,2016

JK Tyre & Industries announced that the Board of Directors of the company at its meeting held on 28 December 2016 approved raising of funds upto an amount of Rs 1000 crore in one or more tranches by way of issue of securities, convertible/ non-convertible, with warrants or without warrants with exercisable by the warrant holder to convert or subscribe to equity shares, by way of public/ private offering and/or QIP, including GDRs, ADRs, FCCBs or any combination thereof.

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FPIs remain sellers
Dec 28,2016

Foreign portfolio investors (FPIs) sold stocks worth a net Rs 684.28 crore into the secondary equity markets on 27 December 2016, compared with their net outflow of Rs 1098.42 crore during the preceding trading session on 26 December 2016. The net outflow of Rs 684.28 crore on 27 December 2016 was a result of gross purchases of Rs 1644.88 crore and gross sales of Rs 2329.16 crore. On that day, the Sensex jumped 406.34 points or 1.57% to settle at 26,213.44, its highest closing level since 21 December 2016.

There was a net inflow of Rs 0.43 crore from the category primary markets & others on 27 December 2016.

FPIs have sold stocks worth a net Rs 7774.88 crore into the secondary equity markets in this month so far (till 27 December 2016). They sold shares worth a net Rs 20116.27 crore from the secondary equity markets last month. FPIs have purchased shares worth a net Rs 13279.90 crore from the secondary equity markets in calendar year 2016 so far (till 27 December 2016). They sold shares worth a net Rs 4863.71 crore into the secondary equity markets in calendar year 2015.

There has been a net inflow of Rs 786.27 crore from FPIs into the category primary markets & others in this month so far (till 27 December 2016). There was a net inflow of Rs 1872.02 crore from FPIs into the category primary markets & others last month. The net inflow from FPIs into category primary markets & others has totaled Rs 8473.96 crore in calendar year 2016 so far (till 27 December 2016). There was net inflow of Rs 22168.40 crore from FPIs into the category primary markets & others in calendar year 2015.

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B.L.Kashyap & Sons announces appointment of nominee director
Dec 28,2016

B.L.Kashyap & Sons announced that in accordance with the Corporate Debt Restructuring (CDR) Package and the Letter of Approval (LOA) issued by CDR Empowered Group, the CDR Lenders are entitled to retain /appoint Nominee on the Board of the B.L. Kashyap and Sons limited. Accordingly, State Bank of India (SBI) the Monitoring Institution has nominated Sharad Sharma, Ex DMD of SBI as its nominee.

The Board of Directors vide resolution by circulation as per provisions of Section 175 of the Companies Act 2013 and rules made thereunder have considered and appointed Sharad Sharma as a Nominee Director with effect from 27 December 2016.

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Sovereign Diamonds provides operations update
Dec 28,2016

Sovereign Diamonds announced that the Company has taken the following actions around 15 November 2016:

1. Layoff of 14 workers and 2 staff members

2. The factory is operating for 4 working days instead of 6 working days.

3. There is a reduction in production and orders by almost 60% due to demonetization of Rs. 500/- and Rs. 1,000/- notes.

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Future Consumer allots equity shares
Dec 28,2016

Future Consumer announced that the Committee of Directors of the Board of Directors of the Company has on 28 December 2016, inter alia, issued and allotted 43,50,000 equity shares of Rs. 6/- each consequent to exercise of options granted and vested under FVIL Employees Stock Plan - 2011.

In terms of the aforesaid allotment, the paid-up share capital of the Company stands increased to Rs. 9,97,49,53,428/- comprising of 1,66,24,92,238 equity shares of Rs. 6/- each.

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Navin Fluorine International allots equity shares
Dec 28,2016

Navin Fluorine International announced that the Nomination and Remuneration Committee have on 27 December 2016 allotted 4,000 equity shares of the face value of Rs. 10/- of the Company to the employee upon exercising Stock Options by him under the prevailing Employee Stock Option Scheme 2007 of the Company.

With this allotment, the paid-up capital of the Company has increased to Rs.9,78,98,415/- (9788386 equity shares of Rs.10 /- each fully paid-up and 2911 partly paid equity shares of Rs.10 /- each, on which Rs.5/- per share paid-up).

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