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Rupee softens
Mar 08,2017

Rupee closed lower at 66.88/89 per dollar on Wednesday (08th March 2017), versus its previous close of 66.8425/8450 per dollar.

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Housing Development Finance Corporation allots 11,96,155 equity shares
Mar 08,2017

Housing Development Finance Corporation has allotted 11,96,155 equity shares of Rs 2 each pursuant to exercise of stock option by certain employers/ directors.

Post the above allotment, the paid up equity share capital of the Company would stand at Rs 317.42 crore consisting of 158,71,33,535 equity shares of Rs 2 wach.

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Shree Ajit Pulp And Paper gets reaffirmation of credit ratings
Mar 08,2017

Shree Ajit Pulp And Paper announced that ICRA has re-affirmed its rating A- (ICRA A Minus) for Long Term Rating and A2+ (ICRA A Two Plus) for Short Term Rating of the Company. The outlook has been revised from Stable to Negative.

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Board of Saianand Commercial appoints directors
Mar 08,2017

Saianand Commercial announced that the Board of Directors of the Company at its meeting held on 08 March 2017 considered the following - To appoint Vikram Champaklal Sanghvi, Jitendra Babulal Shah and Karishma Vikram Sanghvi as additional directors of the Company with effect from 08 March 2017.

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Board of Puravankara approves change in CFO
Mar 08,2017

Puravankara announced that the Board of Directors of the Company at its meeting held on 08 March 2017 approved the following -

Kuldeep Chawla has been appointed as Chief Financial Officer with effect from 08 March 2017.

The Board placed on record the resignation of Hari Ramakrishnan from the position of Chief Financial Officer of the Company, w.e.f. 08 March 2017.

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Board of Mawana Sugars agrees to enter into one time settlement for resolution of debt
Mar 08,2017

Mawana Sugars announced that the Board of Directors of the Company vide resolution dated 08 March 2017 has agreed to enter into one time settlement with State Bank of Mysore, New Delhi for resolution of debt, settling Companys total dues of Rs 47.76 lakh, for a consolidated agreed amount of Rs 38 lakh.

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Axis Rail India appoints CFO
Mar 08,2017

Axis Rail India announced that the Board of Directors of the company at its meeting held on 08 March 2017 has considered and approved the appointment of P.Venu Gopal Reddy as a Chief Financial Officer of the Company w.e.f., 8 March 2017.

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Outcome of board meeting of Sun Techno Overseas
Mar 08,2017

Sun Techno Overseas announced that the Board of Directors of the company at its meeting held on 08 March 2017 considered the following -

To appoint Rakesh Bhailalbhai Patel and Rakesh Tewari as additional directors in the board of director of the Company.

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Indian demand will recover from 2016 lows-World Gold Council
Mar 08,2017

After a challenging 2016, Indias gold market faces headwinds. As well as the lingering effect of the policies implemented last year, the industry has more to contend with in 2017. The ban on cash transactions over Rs300,000 could hurt rural Indian demand while GST could adversely affect the industry in the short-term, said the latest report of World Gold Council.

But after falling so sharply last year, demand is unlikely to fall further. Headwinds will be off-set by strong tailwinds. A banking system flush with liquidity, the bumper crop after a good monsoon, and central government employees and pensioners inflation-busting wage hike will all support economic growth. GST will streamline Indias byzantine tax structure which, as well as boosting the economy, promises to make golds value chain more transparent. Further ahead, the economy will benefit from the groundswell of young Indians entering the workforce - a demographic dividend similar to that which underpinned the stellar growth of the Asian Tiger economies of the 1980s and 1990s. All these factors will boost Indias economic growth and support gold demand.

It is likely that the impact of demonetisation will have a behavioural impact too. The shock initiative will have tested some peoples faith in fiat currencies and reinforced their faith in gold. We conducted a large-scale piece of consumer research in Q1 2016 in which 63% of respondents in India agreed with the statement n++I trust gold more than the currencies of countriesn++. And 73% of respondents in India agreed with the statement n++gold makes me feel secure for the long-termn++. The demonetisation programme will underpin these beliefs.

Demonetisation is also boosting large jewellery retailers, and they will continue to grab a larger share of the market. Over time, consumers will move away from cash towards digital payments, and organised players should benefit from this trend. This change in market dynamics will result in more transparency and a better deal for consumers, protecting them from shady practices such as undercarating.

Indias gold demand has fallen sharply in the past, but has then recovered. Previous attempts by the authorities to clamp down on gold have failed: gold is too intimately ingrained in Indian society.

On balance, while demand is likely to improve, our view for 2017 is cautious: we expect consumers to buy between 650t and 750t. Over time, we anticipate that economic growth and greater transparency within Indias gold market will push demand higher: by 2020 we see Indian consumers buying between 850t and 950t.

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Satin Creditcare gains as board to consider issue of shares
Mar 08,2017

The announcement was made after market hours yesterday, 7 March 2017.

Meanwhile, the S&P BSE Sensex was down 96.77 points or 0.33% at 28,902.79

On BSE, so far 23,000 shares were traded in the counter as against average daily volume of 24,856 shares in the past one quarter. The stock hit a high of Rs 396.80 and a low of Rs 384.40 so far during the day.

The stock had hit a record high of Rs 716.70 on 28 July 2016. The stock had hit a 52-week low of Rs 289.90 on 29 March 2016. The stock had underperformed the market over the past one month till 7 March 2017, sliding 14.34% compared with the Sensexs 1.97% rise. The scrip had also underperformed the market over the past one quarter, falling 0.47% as against the Sensexs 10.53% rise.

The small-cap company has equity capital of Rs 37.57 crore. Face value per share is Rs 10.

Satin Creditcare Networks net profit rose 9.53% to Rs 16.44 crore on 44.83% growth in total income to Rs 208.35 crore in Q3 December 2016 over Q3 December 2015.

Satin Creditcare Network is one of the leading microfinance companies in India.

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GAIL (India) drops after hitting almost 2-1/2 year high
Mar 08,2017

Meanwhile, the S&P BSE Sensex was down 90.16 points, or 0.31% to 28,909.40.

Huge volumes were traded on the counter. On the BSE, 19.14 lakh shares were traded in the counter so far, compared with average daily volumes of 2.63 lakh shares in the past one quarter. The stock had hit a high of Rs 534.40 in intraday trade, its highest level since 3 November 2014. The stock had hit a low of Rs 483.90 so far during the day. The stock hit a 52-week low of Rs 332.50 on 16 March 2016.

The stock had outperformed the market over the past one month till 7 March 2017, rising 9.97% compared with 2.34% gains in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 22.55% as against Sensexs 10.53% gains.

The large-cap company has equity capital of Rs 1268.48 crore. Face value per share is Rs 10.

GAIL (India)s shareholders on 6 March 2017 passed a resolution for issuance of bonus shares. On 22 February 2017, GAIL (India) had fixed 11 March 2017, as record date for 1:3 bonus issue. On 25 January 2017, GAIL (India)s board had approved issue of one bonus share for every three shares held.

GAIL (India)s net profit rose 45.4% to Rs 982.92 crore on 9.4% decline in net sales to Rs 12107.89 crore in Q3 December 2016 over Q3 December 2015.

GAIL (India), Indias largest natural gas company, is one of the seven Maharatna Public Sector Undertakings (PSUs). Government of India held 56.11% stake in the firm as per the shareholding pattern as on 31 December 2016.

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Adani Power drops on profit booking
Mar 08,2017

Meanwhile, the S&P BSE Sensex was down 104.03 points, or 0.36% to 28,895.3

On the BSE, 11.07 lakh shares were traded on the counter so far as against the average daily volumes of 11.97 lakh shares in the past one quarter. The stock hit a high of Rs 40.70 and a low of Rs 38.20 so far during the day.

The stock had hit a 52-week high of Rs 41.30 yesterday, 7 March 2017. The stock had hit a 52-week low of Rs 23.35 on 9 November 2016. The stock had outperformed the market over the past one month till 7 March 2017, advancing 8.46% compared with the Sensexs 1.97% rise. The scrip had also outperformed the market over the past one quarter, gaining 27.04% as against the Sensexs 10.53% rise.

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

Adani Power reported consolidated net loss of Rs 323.61 crore in Q3 December 2016, compared with the net profit of Rs 109.49 crore in Q3 December 2015. Net sales declined 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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Unichem Lab advances after receiving ANDA approval from USFDA for drug
Mar 08,2017

The announcement was made during market hours today, 8 March 2017.

Meanwhile, the S&P BSE Sensex was down 117.28 points or 0.4% at 28,883.09.

More than usual volumes were witnessed on the counter. On the BSE, 14,672 shares were traded on the counter so far as against the average daily volumes of 9,367 shares in the past one quarter. The stock had hit a high of Rs 268 and a low of Rs 260.80 so far during the day. The stock had hit a 52-week high of Rs 319.90 on 20 October 2016 and a 52-week low of Rs 210.10 on 18 March 2016.

The stock had underperformed the market over the past one month till 7 March 2017, falling 4.9% compared with 2.34% gains in the Sensex. The scrip had also underperformed the market in past one quarter, gaining 0.17% as against Sensexs 10.53% gains.

The small-cap company has equity capital of Rs 18.18 crore. Face value per share is Rs 2.

Unichem Laboratories announced that it has received abbreviated new drug application (ANDA) approval from the United States Food and Drug Administration (USFDA) for Rizatriptan Benzoate ODT 5mg & 10mg and Rizatriptan Benzoate Tablets USP, 5mg & 10mg which are therapeutically equivalent to Maxalt - MLT Tablets 5mg & 10mg and Maxalt Tablets 5mg 10mg of Merck & Company, Inc.

Rizatriptan Benzoate Tablets USP, 5mg & 10mg and Rizatriptan Benzoate ODT USP, 5mg & 10mg; is a serotonin (5-HT) 1B/1D receptor agonist (triptan) indicated for the acute treatment of migraine in adults and in pediatric patients 6 to 17 years of age.

The product will be commercialized from Unichems Goa plant. Active pharmaceutical ingredient (API) will also be made in house at Roha API plant.

Unichem Laboratories net profit rose 26.3% to Rs 26.11 crore on 15.1% rise in net sales to Rs 348.79 crore in Q3 December 2016 over Q3 December 2015.

Unichem Laboratories is an international, integrated, specialty pharmaceutical company. It manufactures and markets a large basket of pharmaceutical formulations as branded generics as well as generics in India and several other markets across the world. In India, the company is a leader in niche therapy areas of cardiology, neurology, orthopedics and anti-infectives. The company has strong skills in product development, process chemistry and manufacturing of complex APIs as well as dosage forms.

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Vista Pharmaceuticals to hold EGM
Mar 08,2017

Vista Pharmaceuticals announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 30 March 2017 .

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Satin Creditcare Network to hold board meeting
Mar 08,2017

Satin Creditcare Network will hold a meeting of the Board of Directors of the Company on 10 March 2017, to consider Increase in Authorized Share Capital of the Company, consider further issuance of Securities on private placement basis, to persons belonging to promoter/non promoter category, in compliance with applicable rules and regulations. and to decide about the EGM date and other requisite details.

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