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Prabhat Telecoms (India) to hold AGM
Sep 02,2016

Prabhat Telecoms (India) announced that the Annual General Meeting (AGM) of the company will be held on 30 September 2016.

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Autolite (India) to hold board meeting
Sep 02,2016

Autolite (India) will hold a meeting of the Board of Directors of the Company on 31 August 2016.

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Precious metals shine
Sep 02,2016

Gold futures rebounded from two-month lows on Thursday, 01 September 2016 to finish higher, after data showing a fall in U.S. manufacturing activity pressured the dollar and potentially gave the Federal Reserve a little less reason to boost interest rates at a meeting this month. Traders will now look ahead to Fridays monthly U.S. jobs report for further clues on the central banks plans for interest rates.

December gold rose $5.70, or 0.4%, to settle at $1,317.10 an ounce. December silver rose 23.6 cents, or 1.3%, to $18.943 an ounce. For the month of August, however, silver prices declined 8.1%, based on the most-active contract.

Gold fell as the dollar moved lower against its chief rivals. The ICE U.S. Dollar Index, a measure of the greenback against a basket of six rival currencies, was down 0.3% as gold futures settled.

The ICE U.S. Dollar Index turned lower after the ISM manufacturing data, but that failed to support dollar-denominated oil prices.

The Institute for Supply Management said Thursday its manufacturing index in August fell to 49.4% from 52.6% last month, below the consensus expectation for a 52% reading. A reading below 50% indicates contraction.

Fed Chairwoman Janet Yellen had reiterated at the Jackson Hole, Wyo. economic summit last week that any decision on rates would be depended on the n++degree to which incoming data continues to confirm the Fed policy committees outlook.n++

The market will get further clues on that front from data set for release Friday. The Labor Department is expected to say the worlds largest economy added 185,000 jobs in August; its report includes government hiring.

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SML Isuzu advances after declaring robust vehicle sales in August
Sep 02,2016

The company announced the monthly sales volume data after market hours yesterday, 1 September 2016.

Meanwhile, the S&P BSE Sensex was up 60.09 points or 0.21% at 28,483.57

On BSE, so far 8,866 shares were traded in the counter as against average daily volume of 21,346 shares in the past one quarter. The stock hit a high of Rs 1,397.70 and a low of Rs 1,355.95 so far during the day. The stock had hit a 52-week high of Rs 1,454.50 on 20 October 2015. The stock had hit a 52-week low of Rs 645.50 on 29 February 2016. The stock had outperformed the market over the past 30 days till 1 September 2016, rising 4.8% compared with 2.62% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 28.81% as against Sensexs 5.89% rise.

The small-cap commercial vehicles manufacturer has equity capital of Rs 14.47 crore. Face value per share is Rs 10.

SML Isuzus net profit rose 41.5% to Rs 41.12 crore on 20.52% rise in total income to Rs 464.19 crore in Q1 June 2016 over Q1 June 2015.

SML Isuzu is a commercial vehicle manufacturer. Sumitomo Corporation, Japan and Isuzu Motors, Japan respectively held 43.96% and 15% stake in SML Isuzu (as per the shareholding pattern as on 30 June 2016).

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PVR jumps on takeover buzz
Sep 02,2016

Meanwhile, the BSE Sensex was up 59.59 points, or 0.21%, to 28,483.07.

On BSE, so far 55,000 shares were traded in the counter, compared with average daily volume of 28,322 shares in the past one quarter. The stock hit a high of Rs 1,280.20 and a low of Rs 1,210 so far during the day. The stock hit a record high of Rs 1,252.40 on 5 August 2016. The stock hit a 52-week low of Rs 646 on 25 February 2016. The stock had outperformed the market over the past 30 days till 1 September 2016, rising 7.64% compared with 2.62% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 32.25% as against Sensexs 5.89% rise.

The mid-cap company has equity capital of Rs 46.72 crore. Face value per share is Rs 10.

According to reports, Asias largest film group and theatre operator Wanda Cinema, owned by Chinas richest man, Wang Jianlin has revived talks with Ajay Bijli, the promoter of PVR, to buy a controlling stake in Indias largest multiplex operator. Dalian Wanda Group has reportedly started diligence on PVRs books as a prelude to make a formal offer to acquire the Indian company.

As on 30 June 2016, promoters held 25.26% stake in PVR

On a consolidated basis, net profit of PVR declined 1.61% to Rs 42.81 crore on 17.19% rise in net sales to Rs 559.96 crore in Q1 June 2016 over Q1 June 2015.

PVR is the largest and the most premium film and retail entertainment company in India.

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PVR jumps on reports of Chinese firm eyeing controlling stake
Sep 02,2016

Meanwhile, the BSE Sensex was up 59.59 points, or 0.21%, to 28,483.07.

On BSE, so far 55,000 shares were traded in the counter, compared with average daily volume of 28,322 shares in the past one quarter. The stock hit a high of Rs 1,280.20 and a low of Rs 1,210 so far during the day. The stock hit a record high of Rs 1,252.40 on 5 August 2016. The stock hit a 52-week low of Rs 646 on 25 February 2016. The stock had outperformed the market over the past 30 days till 1 September 2016, rising 7.64% compared with 2.62% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 32.25% as against Sensexs 5.89% rise.

The mid-cap company has equity capital of Rs 46.72 crore. Face value per share is Rs 10.

According to reports, Asias largest film group and theatre operator Wanda Cinema, owned by Chinas richest man, Wang Jianlin has revived talks with Ajay Bijli, the promoter of PVR, to buy a controlling stake in PVR which is Indias largest multiplex operator. Dalian Wanda Group has reportedly started diligence on PVRs books as a prelude to make a formal offer to acquire the Indian company. As on 30 June 2016, promoters held 25.26% stake in PVR.

On a consolidated basis, net profit of PVR declined 1.61% to Rs 42.81 crore on 17.19% rise in net sales to Rs 559.96 crore in Q1 June 2016 over Q1 June 2015.

PVR is the largest and the most premium film and retail entertainment company in India.

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Cadila Healthcare receives EIR for Oral Solid Dosage drug manufacturing plant in Ahmedabad
Sep 02,2016

Cadila Healthcare announced that the Companys Oral Solid Dosage drug manufacturing plant located at SEZ, Ahmedabad has received an Establishment Inspection Report (EIR) from the USFDA following the inspection carried out in January 2016. The receipt of EIR indicates the successful closure of the inspection points (483s) raised. It may be mentioned that this plant is a separate manufacturing unit and does not form a part of the Moraiya formulations manufacturing facility.

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Revival Package For Construction Sector Will Address Liquidity Crisis And Issues Of NPAs: CII
Sep 02,2016

The Cabinet Committee on Economic Affairs (CCEA)s announcement of a revival package for the ailing construction sector has come at an opportune time as it seeks to distress the liquidity woes of construction companies and the infrastructure sector, said the Confederation of Indian Industry (CII). n++Indian industry welcomes this positive and timely initiative taken by the government as this would unclog stressed assets and revive projects that have been stuck over years in litigation and courts,n++ said Mr Chandrajit Banerjee, Director General, CII.

Mr Banerjee added, n++The revival package for the construction sector by the government will translate into a huge liquidity boost for the system and would save many construction companies from being declared NPAs.n++ The package will also allow recovery of loans by banks and facilitate construction companies to speed up execution of ongoing projects. Further, it will increase the ability of construction companies to bid for new contracts and the resulting competition will be beneficial in containing the costs of public works, he said.

CII had engaged with key stakeholders across the government to make a case for this crucial sector, often described as the bottom end of the infrastructure chain, and is happy to see most of its recommendations reflected in the revival package

One of the major decisions by the CCEA includes a direction to PSUs to pay 75% of award amount to contractors against a margin fee in cases where the PSU has lost the Arbitration case and goes in for appeal in Courts. This amount will infuse liquidity and will be used by the contractors to repay bank loans or to meet commitments in ongoing projects.

Government Departments and PSUs have also been instructed to transfer cases under arbitration to the amended Arbitration Act which has an expedited procedure, with the consent of contractors. This will help disputes to be settled expeditiously, with minimum cost and time overruns and unlock stuck money to go back into circulation in the economy. It would be worth mentioning here that an estimated amount of around INR 70,000 crores is expected to be unlocked due to this measure.

Commenting on the decision Mr Atul Punj, chairman of CII National Committee on Construction and chairman of PunjLoyd, said that the broad spectrum measures announced by the government will help the construction sector that has the potential to generate jobs and boost investments in infrastructure projects, an imperative to revive economic growth.

In the long run, other measures are also under consideration, including changes to bid documents and model EPC contracts. Cabinet has also directed PSUs/ Government departments issuing public contracts to set up Conciliation Committees comprising of independent subject experts to ensure speedy disposal of pending or new cases. The Department of Financial Services, in consultation with RBI, will examine and evolve a suitable one-time scheme for addressing stressed bank loans in the construction sector.

Given the fact that the construction sector generates the highest level of direct and indirect jobs employing about 40 million people with a 2.7x multiplier effect on the economy and being the second largest contributing nearly 8% economic activities to the GDP, these initiatives are all set to trigger massive expansion of the infrastructure sector, industrialization, urbanization, rise in disposable incomes and success of various Government initiatives to improve Indias residential and transport infrastructure.

A few suggestions for possible additional amendments that will further streamline ease of doing business could include adoption of ICCs Uniform Rules for Demand Guarantees (URDG) which are being followed in most major countries. Also, revision of clauses in Public Contracts so that the interest of both the Client and the Contractor are taken care of, is essential for the full recovery of this crucial sector.

While the effect of the amendment may be visible after a few months, in the long run these initiatives would enable Construction Sector to attract foreign investments and help in reviving sectors crucial for rebooting Indias growth story.

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Bajaj Auto drops after announcing fall in August sales volume data
Sep 02,2016

The announcement was made during market hours today, 2 September 2016.

Meanwhile, the S&P BSE Sensex was up 52.86 points, or 0.19%, to 28,476.34

On BSE, so far 13,000 shares were traded in the counter, compared with an average daily volume of 22,019 shares in the past one quarter. The stock hit a high of Rs 3,010.45 and a low of Rs 2,922.70 so far during the day. The stock hit a record high of Rs 3,038 on 31 August 2016. The stock hit a 52-week low of Rs 2,173.40 on 29 February 2016. The stock had outperformed the market over the past 30 days till 1 September 2016, rising 10.32% compared with 2.62% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 13.72% as against Sensexs 5.89% rise.

The large-cap company has an equity capital of Rs 289.37 crore. Face value per share is Rs 10.

Bajaj Autos total motorcycles sales fell 4% to 2.79 lakh units in August 2016 over August 2015. Domestic motorcycles sales rose 27% to 1.74 lakh units in August 2016 over August 2015. Motorcycle exports fell 31% to 1.05 lakh units in August 2016 over August 2015.

Bajaj Autos total commercial vehicle sales fell 12% to 45,436 units in August 2016 over August 2015. Sales of commercial vehicles in the domestic market rose 14% to 25,595 units in August 2016 over August 2015. Exports of commercial vehicles fell 32% to 19,841 units in August 2016 over August 2015.

Total sales of motorcycles and commercial vehicles in the domestic market rose 25% to 2 lakh units in August 2016 over August 2015. Combined exports of motorcycles and commercial vehicles fell 31% to 1.25 lakh units in August 2016 over August 2015.

Bajaj Autos consolidated net profit rose 13.77% to Rs 1039.70 crore on 3.42% increase in total income to Rs 6015.04 crore in Q1 June 2016 over Q1 June 2015.

Bajaj Auto is one of the leading two-and three-wheeler manufacturers in India.

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Shalimar Paints announces change in registered office
Sep 02,2016

Shalimar Paints announced that the Registrar of Companies, NCT of Delhi & Haryana, has issued a certificate of registration of Regional Director order for change of state of Shalimar Paints (hereinafter referred to as n++the Companyn++) from the state of West Bengal to the state of Haryana.

Further, the registered office of the Company has been changed to 4TH FLOOR, PLOT NO. 64, SECTOR - 44, GURGAON, HARYANA - 122 001.

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Cadila Healthcare gains after getting EIR from USFDA for Ahmedabad facility
Sep 02,2016

The announcement was made during trading hours today, 2 September 2016.

Meanwhile, the BSE Sensex was up 60.07 points, or 0.21%, to 28,483.55.

On BSE, so far 96,000 shares were traded in the counter, compared with average daily volume of 1.01 lakh shares in the past one quarter. The stock hit a high of Rs 391 and a low of Rs 374.20 so far during the day. The stock hit a record high of Rs 454.40 on 23 October 2015. The stock hit a 52-week low of Rs 295.50 on 18 January 2016. The stock had outperformed the market over the past 30 days till 1 September 2016, rising 8.2% compared with 2.62% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 17.44% as against Sensexs 5.89% rise.

The large-cap company has equity capital of Rs 102.37 crore. Face value per share is Re 1.

Cadila Healthcare said that its oral solid dosage drug manufacturing plant located at Special Economic Zone (SEZ) in Ahmedabad has received an Establishment Inspection Report (EIR) from the US Food and Drug Administration (USFDA) following the inspection carried out in January 2016. The receipt of EIR indicates the successful closure of the inspection points (483s) raised. This plant is a separate manufacturing unit and does not form a part of the Moraiya formulations manufacturing facility, the company said.

On a consolidated basis, Cadila Healthcares net profit fell 22.60% to Rs 356.20 crore on 2.24% decline in net sales to Rs 2216.40 crore in Q1 June 2016 over Q1 June 2015.

Cadila Healthcare is a global pharmaceutical company that discovers, manufactures and markets a broad range of healthcare therapies.

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Advance Syntex to hold board meeting
Sep 02,2016

Advance Syntex will hold a meeting of the Board of Directors of the Company on 6 September 2016.

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Premier Chennai Properties to hold AGM
Sep 02,2016

Premier Chennai Properties announced that the 9th Annual General Meeting(AGM) of the company on 23 September 2016.

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Golden Crest Education & Services to hold AGM
Sep 02,2016

Golden Crest Education & Services announced that the 33th Annual General Meeting(AGM) of the company on 27 September 2016.

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Vedavaag Systems to hold AGM
Sep 02,2016

Vedavaag Systems announced that the th Annual General Meeting(AGM) of the company on 21 September 2016.

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