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Sysco Industries gets revision in credit ratings
Mar 07,2017

Sysco Industries has received revision in credit ratings from Brickwork Ratings India as under -

Fund based limits - BWR BB+; Stable outlook (Reaffirmed)
Non fund based limits - BWR A4+ (Reaffirmed)

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KDDL appoints director
Mar 07,2017

KDDL appoints Sanjiv Sachar as Additional Director of the company w.e.f. 7 March 2017.

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Zydus settles patent litigation related to Trokendi XR (topiramate) extended release capsules
Mar 07,2017

Cadila Healthcare and its subsidiary Zydus Pharmaceuticals (USA) Inc. announced that they have finalised an agreement with Supernus Pharmaceuticals Inc. to settle all outstanding patent litigation related to Trokendi XR (topiramate) extended release capsules.

Under the terms of the agreement, Supernus grants Zydus a license to market Zydus generic version of Trokendi XR extended release capsules beginning on 01 January 2023 or earlier under certain circumstances.

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Nalco drops on profit booking
Mar 07,2017

Meanwhile, the S&P BSE Sensex was down 86.28 points, or 0.3%, to 28,961.91

On BSE, so far 2.64 lakh shares were traded in the counter as against average daily volume of 5.95 lakh shares in the past one quarter. The stock hit a high of Rs 79.85 and a low of Rs 77.70 so far during the day.

The stock had hit a 52-week high of Rs 79.85 yesterday, 6 March 2017. The stock had hit a 52-week low of Rs 36.55 on 4 March 2016. The stock had outperformed the market over the past 30 days till 6 March 2017, rising 10.38% compared with 2.86% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 28.26% as against Sensexs 10.06% gains.

The large-cap company has equity capital of Rs 966.46 crore. Face value per share is Rs 5.

National Aluminium Companys (Nalco) net profit declined 2.68% to Rs 143.92 crore on 13.92% growth in net sales to Rs 1963.81 crore in Q3 December 2016 over Q3 December 2015.

State-run Nalco has integrated and diversified operations in mining, metal and power. The Government of India (GoI) held 74.58% stake in the company (as per the shareholding pattern as on 31 December 2016).

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Board of Fag Bearings India appoints MD
Mar 07,2017

Fag Bearings India announced that the Board of Directors of our Company has approved appointment of Dharmesh Arora [DIN: 05350121] as a Managing Director of the Company with effect from 06 March 2017, in its meeting held on 06 March 2017.

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US stocks end in the red
Mar 07,2017

US stocks ended lower on 6 March 2017 at Wall Street. Stocks fell amid concerns over growing geopolitical tensions. The downturn for stocks comes as North Korea tested four ballistic missiles off its east coast early Monday, Seoul time.

The Dow Jones Industrial Average finished down 51.37 points, or 0.2%, at 20,954.34, its first close below 21,000 since clearing that milestone on Wednesday. The Nasdaq Composite Index finished down 21.58 points, or 0.4%, at 5,849.17, overcoming an earlier 43-point deficit. The S&P 500 index declined 7.81 points, or 0.3%, to finish at 2,375.31.

Ten of the eleven primary S&P 500 sectors ended down on the day. Financials, by far the biggest post election gainer, fell 0.6%, while materials shares finished down 0.7%. The energy sector was the only gainer, with a 0.3% rise.

Shares of Travelers and J.P. Morgan Chase & Co. led Dow decliners.

The most notable of geo political headlines was North Koreas most recent act of defiance in which Pyongyang launched four ballistic missiles into the Sea of Japan, marking the third time since August that North Korean missiles have fallen in Japans exclusive economic zone.

In a note, Germanys Commerzbank said the mood from the National Peoples Congress, which began in China on Sunday, was more muted than previous years. Beijing expects GDP growth of 6.5% this year compared with 6.7% in 2016.

Oil futures fell modestly on Monday, 06 March 2017 after a downbeat economic growth forecast for China raised concern about demand while signs of further growth in U.S. crude production contributed to worries about supply. April West Texas Intermediate crude fell 13 cents, or 0.2%, to settle at $53.20 a barrel on the New York Mercantile Exchange. The May contract for global crude benchmark Brent however, tacked on 11 cents, or 0.2%, to $56.01 a barrel.

Traditionally, higher Fed interest rates can make the U.S. dollar strengthen, weighing on prices for gold, which is primarily traded in the greenback. The ICE Dollar Index was up 0.1% on Monday after trading at a two-month high late last week.

Bullion prices ended in a mixed mode on Monday, 6 March 2016 at Comex. Gold prices settled slightly lower on Monday, pressured by expectations for a U.S. interest-rate increase as early as this month, but with uncertainty surrounding a wide swath of geopolitics helping to limit any losses for the safe-haven asset.

Gold prices had started out Mondays session trading higher but by the settlement, gold for April delivery lost $1 or less than 0.1%, to settle at $1,225.50 an ounce. Gold futures logged a more than 2% decline last week, snapping a string of four-straight weekly wins, after U.S. Federal Reserve Chairwoman Janet Yellen said an interest-rate increase was likely to be announced at the central banks next meeting March 14-15. Meanwhile, silver prices inched higher after a loss of 3.6% last week. May silver rose 3.3 cents, or 0.2%, to $17.773 an ounce.

U.S. Treasuries finished slightly lower as fixed-income markets were still digesting last weeks aggressive campaign by Fed officials to prepare markets for the possibility of a 15 March rate hike. The benchmark 10-yr yield closed Monday one basis point higher at 2.49%.

Tomorrows data will include January Trade Balance (consensus -$48.5 billion) at 8:30 ET and January Consumer Credit (consensus $17.0 billion) at 15:00 ET.

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Den Networks gains after increasing stake in subsidiary
Mar 07,2017

The announcement was made after market hours yesterday, 6 March 2017.

Meanwhile, the BSE Sensex was down 58.38 points, or 0.20%, to 28,989.81.

On the BSE, 45,205 shares were traded in the counter so far, compared with average daily volumes of 77,014 shares in the past one quarter. The stock had hit a high of Rs 84.45 and a low of Rs 82 so far during the day. The stock had hit a 52-week high of Rs 104 on 1 April 2016. The stock had hit a 52-week low of Rs 60.85 on 30 November 2016.

The stock had underperformed the market over the past one month till 6 March 2017, falling 6.45% compared with 2.14% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 30.31% as against Sensexs 10.06% gains.

The small-cap company has equity capital of Rs 194.03 crore. Face value per share is Rs 10.

Den Networks said that it has entered into an agreement with DEN Digital Cable Network (DDCN), a companys subsidiary, for increasing stake of the company in DDCN from 51% to 88.57%. The company has purchased equity stake from the existing shareholders of DDCN and acquisition was completed on 6 March 2017.

DDCN is carrying on business of distribution of cable business in the territory of Gurugram in Haryana. It will help to consolidated business of the company in Haryana and controlling the entity.

The cost of acquisition of stake is Rs 4.60 crore. DDCN had annual sales of Rs 10.29 crore as on 31 March 2016 (FY 2016).

Den Networks reported consolidated net loss of Rs 45.10 crore in Q3 December 2016 compared with consolidated net loss of Rs 87.39 crore in Q3 December 2015. Net sales rose 30.3% to Rs 286.83 crore in Q3 December 2016 over Q3 December 2015.

Den Networks is Indias leading cable TV distribution company.

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Adani Power jumps about 9% in three sessions
Mar 07,2017

Meanwhile, the S&P BSE Sensex was down 55.19 points, 0.19% to Rs 28,993.

On the BSE, 28.25 lakh shares were traded on the counter so far as against the average daily volumes of 11.96 lakh shares in the past one quarter. The stock had hit a high of Rs 41.30 so far during the day, which is also 52-week high. The stock hit a low of Rs 39.15 so far during the day. The stock had hit a 52-week low of Rs 23.35 on 9 November 2016.

The large-cap company has equity capital of Rs 3732.86 crore. Face value per share is Rs 10.

Shares of Adani Power have risen 8.97% in three trading sessions from its close of Rs 36.80 on 2 March 2017.

Adani Power reported consolidated net loss of Rs 323.61 crore in Q3 December 2016, compare with the net profit of Rs 109.49 crore in Q3 December 2015. Net sales decline 6.15% to Rs 5803.52 crore in Q3 December 2016 over Q3 December 2015.

Adani Power is the largest private thermal power producer in India with an installed capacity of 10,480 MW.

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Cabinet approves development of 50 un-served and under-served air strips
Mar 07,2017

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi has approved the proposal for revival of 50 un-served/under-served airports/airstrips of the State Governments, Airports Authority of India (AAI) and Civil enclaves in three financial years starting from 2017-18.

The total cost of the project is estimated to be Rs. 4500 crore. 15 airports/airstrips each would be revived during 2017-18 and 2018-19 each while 20 airports/airstrips would be revived during 2019-20.

As an outcome of the approval, small cities/towns shall be connected on commencement of operation of flights to under-served/un-served airports. It will further boost the economic development in these areas as well as surrounding areas in terms of job creation and related infrastructure development.

The Revival of airstrips/airports will be demand driven, depending upon firm commitment from airline operators as well as from the State Governments for providing various concessions as Airports will be developed without insisting on financial viability.

The announcement for making adequate provisions for revival of unserved and underserved airports was made by the Finance Minister in Union Budget 2016-17.

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Bombay Burmah Trading Corporation to acquire additional stake in Bomaby Dyeing & Manufacturing Company
Mar 07,2017

Bombay Burmah Trading Corporation announced that the Finance Committee of Board of Directors of the Corporation at its meeting held on 06 March 2017 has proposed the Corporation to acquire additional shares in Bombay Dyeing & Manufacturing Company directly or through its wholly owned subsidiary, as part of internal restructuring of promoters holdings in Bombay Dyeing & Manufacturing Company.

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Regency Trust announces change in company secretary
Mar 07,2017

Regency Trust announced that Rebecca Nevis, Company Secretary of the Company had tendered her resignation with effect from February 28, 2017 for better prospect and the Company has now appointed Naina Kanagat as Company Secretary of the Company with effect from 07 March 2017.

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Tata Motors gains after luxury car making unit reports good sales in February
Mar 07,2017

The announcement was made during market hours today, 7 March 2017.

Meanwhile, the BSE Sensex was down 43.60 points, or 0.15%, to 29,004.59.

On the BSE, 2.15 lakh shares were traded in the counter so far, compared with average daily volumes of 5.59 lakh shares in the past one quarter. The stock had hit a high of Rs 475.80 and a low of Rs 466.60 so far during the day. The stock had hit a 52-week high of Rs 598.60 on 7 September 2016. The stock had hit a 52-week low of Rs 336.40 on 9 March 2016.

The stock had underperformed the market over the past one month till 6 March 2017, falling 10.39% compared with 2.14% rise in the Sensex. The scrip had also underperformed the market in past one quarter, gaining 6.65% as against Sensexs 10.06% gains.

The large-cap auto major has equity capital of Rs 577.47 crore. Face value per share is Rs 2.

Jaguar Land Rover (JLR), the UKs leading manufacturer of premium luxury vehicles and wholly owned subsidiary of Tata Motors has achieved its best ever February sales performance in 2017. JLRs total retail sales rose 9.3% to 40,978 vehicles in February 2017 over February 2016, primarily driven by continuing strong sales of the Jaguar F-PACE, XE, Land Rover Discovery Sport, Range Rover and Evoque with sales of the all new Land Rover Discovery now also under way.

By region, Jaguar Land Rovers global retail sales performance for February showed growth in China (40.4%), North America (16.2%) and the UK (14.2%) but down slightly in Europe (1.6%) and in other overseas markets (6.5%).

Jaguar retail sales jumped 81.1% to 12,203 vehicles in February 2017 over February 2016, driven by the ongoing success of the Jaguar F-PACE as well as solid sales of XE.

Land Rover retail sales fell 6.4% to 28,775 vehicles in February 2017 over February 2016, primarily reflecting the run-out of the Land Rover Defender and Discovery which was only partially offset by the introduction of the all-new Land Rover Discovery and continuing solid sales of the Discovery Sport, Range Rover and Range Rover Evoque.

Tata Motors consolidated net profit fell 96.2% to Rs 111.57 crore on 2.2% decline in net sales to Rs 66855.18 crore in Q3 December 2016 over Q3 December 2015.

Tata Motors is a market leader in commercial vehicles in India. The companys British luxury unit Jaguar Land Rover (JLR) sells premium luxury cars.

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Tata Motors announces Jaguar Land Rover sales performance
Mar 07,2017

Tata Motors announced that Jaguar Land Rover has achieved its bestever February sales performance in 2017, with total retail sales of 40,978 vehicles, up 9.3% on the prior year, primarily driven by continuing strong sales of the Jaguar F-PACE, XE, Land Rover Discovery Sport, Range Rover and Evoque with sales of the all new Land Rover Discovery now alsounder way.

By region, Jaguar Land Rovers global retail sales performance for February showed growth in China (40.4%), North America (16.2%) and the UK (14.2%) but down slightly in Europe (1.6%) and in otheroverseas markets (6.5%).

Jaguar retail sales were 12,203 vehicles, up 81.1%, compared to February 2016, driven by the ongoing success of the Jaguar F-PACE as well as solid sales of XE.

Land Rover retailed 28,775 vehicles in February 2017, down 6.4% compared to February 2016, primarily reflecting the run-out of the Land Rover Defender and Discovery which was only partially offset by the introduction of the all-new Land Rover Discovery and continuing solid sales of the Discovery Sport, Range Rover and Range Rover Evoque.

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Asian Granito India advances after bulk deal
Mar 07,2017

Meanwhile, the S&P BSE Sensex was down 43.58 points, 0.14% to Rs 29,008.49.

On the BSE, 73,000 shares were traded on the counter so far as against the average daily volumes of 73,196 shares in the past one quarter. The stock had hit a high of Rs 287.40 so far and a low of Rs 283.35 so far during the day.

The stock had hit a record high 304 on 28 September 2016 and a 52-week low of Rs 137.80 on 9 March 2016.

The small-cap company has equity capital of Rs 30.09 crore. Face value per share is Rs 10.

GMO Emerging Domestic Opportunities Fund bought 4.57 lakh shares at Rs 274.99 per share.

Jagdishbhai Ramanbhai Patel sold 5.83 lakh shares at Rs 275.08 per share of the company. Jagdishbhai Ramanbhai Patel held 3.226% stake in Asian Granito India end December 2016.

Asian Granito Indias consolidated net profit rose 33.4% to Rs 9.34 crore on 4.28% increase in net sales to Rs 245.67 crore in Q3 December 2016 over Q3 December 2015.

Asian Granito India is one of the largest ceramic companies in India. The company manufactures and markets interior & infrastructure products like vitrified wall & floor tiles, porcelain, natural marble composite and quartz.

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PNC Infratech advances after being declared as lowest bidder for highway project
Mar 07,2017

The announcement was made after market hours yesterday, 6 March 2017.

Meanwhile, the S&P BSE Sensex was down 64.64 points, or 0.22%, to 28,983.55

On BSE, so far 85,000 shares were traded in the counter, compared with an average volume of 17,123 shares in the past one quarter. The stock hit a high of Rs 107.80 and a low of Rs 103.75 so far during the day.

The stock hit a record high of Rs 134.90 on 25 August 2016. The stock hit a 52-week low of Rs 95 on 4 March 2016. The stock had underperformed the market over the past 30 days till 6 March 2017, falling 4.69% compared with 2.86% rise in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 9.12% as against Sensexs 10.06% gains.

The small-cap company has an equity capital of Rs 51.31 crore. Face value per share is Rs 2.

PNC Infratech was declared the L1 (lowest) bidder for NHAI project of six laning Chitradurga - Davanagere including Chitradurga bypass of NH 48 (Old NH-4) in Karnataka under NHDP V, to be executed on hybrid annuity mode for a bid project cost of Rs 1434 crore. Four firms participated in the bidding and the price bids were opened on 6 March 2017, with PNCs bid being the lowest (L1). This is the second hybrid annuity project won by PNC having construction period of 2 n++ years and operation period of 15 years.

PNC Infratechs consolidated net profit rose 70.28% to Rs 59.36 crore on 22.23% fall in total income to Rs 578.33 crore in Q3 December 2016 over Q3 December 2015.

PNC Infratech is an infrastructure construction, development and management company, with expertise in execution of major infrastructure projects, including highways, bridges, flyovers, airport runways, power transmission lines, development of industrial areas and other infrastructure activities.

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