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Mukand gains after turnaround in Q1
Aug 09,2016

The result was announced after market hours yesterday, 8 August 2016.

Meanwhile, the S&P BSE Sensex was down 44.89 points or 0.16% at 28,137.68.

On BSE, so far 81,000 shares were traded in the counter as against average daily volume of 36,586 shares in the past one quarter. The stock hit a high of Rs 53.40 and a low of Rs 50.50 so far during the day. The stock had hit a 52-week high of Rs 55.80 on 31 December 2015. The stock had hit a 52-week low of Rs 27.50 on 19 February 2016. The stock had outperformed the market over the past one month till 8 August 2016, advancing 19.52% compared with 3.89% rise in the Sensex. The scrip had also outperformed the market in past one quarter, surging 42.57% as against Sensexs 11.71% rise.

The small-cap company has equity capital of Rs 141.41 crore. Face value per share is Rs 10.

The companys net sales declined 0.2% to Rs 673.39 crore in Q1 June 2016 over Q1 June 2015.

Mukand is engaged in manufacture of alloy and stainless steel long products.

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SRF spurts after good Q1 earnings
Aug 09,2016

The result was announced after market hours yesterday, 8 August 2016.

Meanwhile, the BSE Sensex was down 46.89 points, or 0.17%, to 28,135.68.

On BSE, so far 1.13 lakh shares were traded in the counter, compared with average daily volume of 21,857 shares in the past one quarter. The stock hit a high of Rs 1688 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 1554.20 so far during the day. The stock hit a 52-week low of Rs 1,019 on 25 August 2015. The stock had outperformed the market over the past 30 days till 8 August 2016, rising 17.66% compared with 3.89% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 8.90% as against Sensexs 9.35% rise.

The mid-cap chemical based multi-business entity manufacturing industrial intermediates has equity capital of Rs 57.42 crore. Face value per share is Rs 10.

SRF said consolidated net sales declined 0.86% to Rs 1195.08 crore in Q1 June 2016 over Q1 June 2015, mainly due to the consistent subdued commodity prices. The company said that the surge in profitability can be attributed to robust demand, operational efficiency with renewed focus on cost improvement and market penetration especially in the international market.

Reflecting on the financial performance of the company, SRFs managing director, Ashish Bharat Ram, said that the company had an excellent start to the year. All the companys businesses performed exceptionally well. However, the global economy remains fragile and hence the outlook has an element of uncertainty to it. The company continues to invest regularly as per its strategic intent.

Meanwhile in a separate announcement after market hours yesterday, 8 August 2016, the company said that its board approved setting up third multipurpose plant at SRFs chemical complex in Dahej, Gujarat at an estimated cost of Rs 180 crore. The board also approved setting up Chloromethanes plant at SRFs chemical complex in Dahej, Gujarat at an estimated cost of Rs 165 crore.

SRF is a multi-business global entity with operations in 3 countries. The company makes refrigerants, technical textiles, packaging films and specialty chemicals.

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HDFC drops, Max Financial nudges higher
Aug 09,2016

Shares of HDFC were down 0.68% at Rs 1,358.20. The stock hit a high of Rs 1,375 and a low of Rs 1,356 so far during the day.

Shares of Max Financial Services (Max Financial) were up 0.15% at Rs 543.10. The stock hit a high of Rs 547.60 and a low of Rs 515.25 so far during the day. The companys net profit surged 333.15% to Rs 107.12 crore on 228.19% growth in total income to Rs 131.90 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 8 August 2016.

Meanwhile, the S&P BSE Sensex was down 5.94 points or 0.02% at 28,176.63.

The board of directors of HDFC and Max Financial at their board meetings held yesterday, 8 August 2016, approved entering into definitive agreements for amalgamation of businesses between HDFC Standard Life Insurance Company (HDFC Life), Max Life Insurance Company (Max Life) and Max Financial Services (Max Financial) through a composite scheme of arrangement. As a part of the proposed transaction, the life insurance business of Max Financial, currently held through Max Life, would be finally amalgamated with HDFC Life and all other business of Max Financial would be finally amalgamated into Max India. The shares of HDFC Life are proposed to be listed on BSE and the National Stock Exchange of India (NSE) as a consequence of the scheme. Pursuant to the scheme and subject to receipt of the requisite approvals, the shareholding of HDFC in HDFC Life post completion of the proposed transaction would be 42.5% and consequently HDFC Life would cease to be a subsidiary of HDFC.

For the merger of Max Life into Max Financial, shareholders of Max Life will get one share of Max Financial for approximately five shares of Max Life. For the demerger of the life insurance undertaking from Max Financial into HDFC Life, shareholders of Max Financial (post the amalgamation with Max Life), will get 2.33 shares of HDFC Life for each share of Max Financial.

As a part of the proposed transaction, in consideration of the non-compete and non-solicitation obligations undertaken by the promoter group of Max Financial, and for the goodwill attached to the life insurance products and the business of Max Life, the merged insurance entity will be paying a non-compete fee to the promoter group of Max Financial. The term of non-compete would be 4 years since the payment of an upfront fee of Rs 501 crore which will be payable post completion of the proposed transaction. This will be followed by three equal annual installments totaling Rs 349 crore.

Max Financial will seek an upfront approval of its public shareholders (greater than 50% of the votes cast) for payment of the non-compete fee and Max Life will seek consent from its shareholders holding more than 75% stake for the proposed transaction. Separately, Max India will also seek an upfront approval of its public shareholders for the proposed transaction.

HDFC Life has also entered into a trademark license agreement to use the Max brand as part of life products that will transition from Max Life, for seven years post completion of the proposed transaction.

HDFC and Standard Life (Mauritius Holdings) 2006 Ltd. will be the promoters of HDFC Life the merged entity, post completion of the proposed transaction. HDFC will cease to be the holding company of HDFC Life post completion of the proposed transaction and will hold about 42.5% of HDFC Life (based on shareholding as on 30 June 2016).

The proposed transaction brings together two large life insurance players with complementary capabilities. The merged insurance entity on pro-forma basis has a combined market share of 10.8%, in an extremely competitive life insurance market. The product mix of HDFC Life and Max Lifecomplements each other.

The proposed transaction is expected to become effective in the next 12-15 months.

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Tata Motors gains after good global wholesales in July
Aug 09,2016

The announcement was made after market hours yesterday, 8 August 2016.

Meanwhile, the BSE Sensex was down 14.34 points, or 0.05%, to 28,168.23.

On BSE, so far 62,000 shares were traded in the counter, compared with average daily volume of 8.71 lakh shares in the past one quarter. The stock hit a high of Rs 522 and a low of Rs 516.45 so far during the day. The stock hit a 52-week high of Rs 522.20 yesterday, 8 August 2016. The stock hit a 52-week low of Rs 266 on 11 February 2016. The stock had outperformed the market over the past 30 days till 8 August 2016, rising 10.48% compared with 3.89% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 32.15% as against Sensexs 9.35% rise.

The large-cap company has equity capital of Rs 577.44 crore. Face value per share is Rs 2.

Global wholesales of all Tata Motors commercial vehicles and Tata Daewoo range in July 2016 was flat at 30,363 compared to July 2015. Global wholesales of all passenger vehicles rose 34% to 57,796 units in July 2016 over July 2015.

Global wholesales for Jaguar Land Rover (JLR) were 43,932 vehicles (includes CJLR wholesales of 3,638 vehicles). CJLR is a joint venture (JV) between JLR and Chery Automobiles and is an unconsolidated subsidiary for JLR.

Jaguar wholesales were 14,369 vehicles in July 2016. Land Rover wholesales were at 29,563 vehicles in July 2016.

Tata Motors consolidated net profit jumped 201.61% to Rs 5177.06 crore on 18.76% growth in net sales to Rs 79926.12 crore in Q4 March 2016 over Q4 March 2015.

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

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REC gains as board to consider bonus issue
Aug 09,2016

The announcement was made after market hours yesterday, 8 August 2016.

Meanwhile, the BSE Sensex was down 4.14 points, or 0.01%, to 28,178.43.

On BSE, so far 2.77 lakh shares were traded in the counter, compared with average daily volume of 4.75 lakh shares in the past one quarter. The stock hit a high of Rs 233.40 and a low of Rs 229 so far during the day. The stock hit a 52-week high of Rs 297.25 on 5 October 2015. The stock hit a 52-week low of Rs 152.50 on 24 February 2016. The stock had outperformed the market over the past 30 days till 8 August 2016, rising 18.75% compared with 3.89% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 33.51% as against Sensexs 9.35% rise.

The large-cap company has equity capital of Rs 987.46 crore. Face value per share is Rs 10.

Net profit of Rural Electrification Corporation rose 5.8% to Rs 1160.03 on 13.2% rise in net sales to Rs 6035.71 crore in Q4 March 2016 over Q4 March 2015.

Rural Electrification Corporation (REC), a Navratna Central Public Sector Enterprise under Ministry of Power, provides financial assistance to state electricity boards, state government departments and rural electric co-operatives for rural electrification projects. As per shareholding pattern, Government of India holds 60.64% stake in the firm as on 30 June 2016.

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Idea Cellular hits 52-week low after weak Q1 results
Aug 09,2016

The result was announced after market hours yesterday, 8 August 2016.

Meanwhile, the S&P BSE Sensex was down 5.24 points or 0.02% at 28,177.33.

On BSE, so far 2.96 lakh shares were traded in the counter as against average daily volume of 10.99 lakh shares in the past one quarter. The stock hit a low of Rs 96.55 so far during the day, which is a 52-week low for the counter. The stock hit a high of Rs 99.50 so far during the day. The stock had hit a 52-week high of Rs 170.75 on 7 August 2015. The stock had underperformed the market over the past one month till 8 August 2016, advancing 1.18% compared with 3.89% rise in the Sensex. The scrip had also underperformed the market in past one quarter, declining 9.2% as against Sensexs 11.71% rise.

The large-cap company has equity capital of Rs 3600.92 crore. Face value per share is Rs 10.

Idea Cellular said it remains confident to tap all emerging opportunities in mobile voice and broadband business.

Idea Cellular is one of the leading telecom operators in India. It is a part of the Aditya Birla Group.

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Colgate-Palmolive (India) hits 52-week high after announcing Q1 results
Aug 08,2016

The result was announced during market hours today, 8 August 2016.

Meanwhile, the S&P BSE Sensex was up 99.02 points or 0.35% at 28,177.37.

The stock surged on heavy volumes. On BSE, so far 3 lakh shares were traded in the counter as against average daily volume of 36,004 shares in the past one quarter. The stock hit a high of Rs 1,032.85 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 940 so far during the day. The stock had hit a 52-week low of Rs 787.60 on 24 May 2016. The stock had underperformed the market over the past one month till 5 August 2016, advancing 2.01% compared with 3.36% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 13.19% as against Sensexs 11.15% rise.

The large-cap company has equity capital of Rs 27.20 crore. Face value per share is Rs 1.

Colgate-Palmolive (India) achieved a volume growth of 6% in Q1 June 2016 over Q1 June 2015.

Colgate-Palmolive (India) makes oral care products.

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Kovai Medical Center hits the roof after strong Q1 results
Aug 08,2016

The result was announced after trading hours on Friday, 5 August 2016.

Meanwhile, the BSE Sensex was up 83.86 points, or 0.30%, to 28,162.21.

On BSE, so far 3,116 shares were traded in the counter, compared with average daily volume of 1,158 shares in the past one quarter. The stock opened with an upward gap of 5% at Rs 762.75 and remained stuck at that level so far. The stock hit a record high of Rs 928.25 on 11 August 2015. The stock hit a 52-week low of Rs 616.25 on 18 February 2016. The stock had outperformed the market over the past 30 days till 5 August 2016, rising 3.85% compared with 3.22% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 2.39% as against Sensexs 11.30% rise.

The small-cap company has an equity capital of Rs 10.94 crore. Face value per share is Rs 10.

Kovai Medical Center & Hospital is a multispecialty hospital in Coimbatore.

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Wockhardt slumps as USFDA issues import alert on the companys Ankleshwar unit
Aug 08,2016

The company made the announcement during market hours today, 8 August 2016.

Meanwhile, the S&P BSE Sensex was up 77.95 points or 0.28% at 28,156.30.

On BSE, so far 5.78 lakh shares were traded in the counter as against average daily volume of 1.79 lakh shares in the past one quarter. The stock hit a high of Rs 960 and a low of Rs 870 so far during the day. The stock had hit a 52-week high of Rs 1,748.20 on 2 December 2015. The stock had hit a 52-week low of Rs 706.35 on 12 February 2016. The stock had outperformed the market over the past one month till 5 August 2016, advancing 6.19% compared with 3.36% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, gaining 4.51% as against Sensexs 11.15% rise.

The large-cap company has equity capital of Rs 55.27 crore. Face value per share is Rs 5.

The company has already initiated required steps to address the concerns raised by the US Food and Drug Administration (USFDA) and is putting all efforts to resolve the matter, Wockhardt said in a statement.

Meanwhile, media reports suggested that a foreign brokerage has downgraded the stock to neutral from outperform in the wake of USFDAs import alert on the companys Ankleshwar unit.

Wockhardt is scheduled to announce Q1 June 2016 results on 13 August 2016. The companys consolidated net profit rose 25.9% to Rs 42.90 crore on 6.1% decline in net sales to Rs 1013.36 crore in Q4 March 2016 over Q4 March 2015.

Wockhardt is a research based and technology intensive global pharmaceutical and biotechnology company.

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Hero MotoCorp gains after reporting record quarterly net profit in Q1
Aug 08,2016

The announcement was made during trading hours today, 8 August 2016.

Meanwhile, the BSE Sensex was up 97.30 points, or 0.35%, to 28,175.65.

On BSE, so far 1.13 lakh shares were traded in the counter, compared with average daily volume of 25,020 shares in the past one quarter. The stock hit a high of Rs 3,553.55 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 3,410 so far during the day. The stock hit a 52-week low of Rs 2,259.10 on 7 September 2015. The stock had outperformed the market over the past 30 days till 5 August 2016, rising 10.74% compared with 3.22% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 19.04% as against Sensexs 11.30% rise.

The large-cap company has an equity capital of Rs 39.94 crore. Face value per share is Rs 2.

Hero MotoCorps net profit rose 18.13% to Rs 883.10 crore on 7.84% increase in total income to Rs 8131.04 crore in Q1 June 2016 over Q1 June 2015. The company said its gross turnover (gross sales and other operating income) rose 7.74% to Rs 8010.66 crore in Q1 June 2016 over Q1 June 2015. Earnings before interest, depreciation, tax & amortization (EBIDTA) margin was reported at 16.63% in Q1 June 2016, higher than 15.09% in Q1 June 2015.

The companys chairman, managing director and chief executive officer, Pawan Munjal, said that the first quarter of this fiscal carried forward the growth trajectory that the company had set in the previous quarter. The sales growth is reflected in the positive financial results for the quarter, and has given the company the momentum to carry forward as it prepares for the upcoming festive season. With the above-average monsoon so far and the implementation of the 7th Pay Commission recommendations, the firm remains cautiously optimistic about the remaining months of the financial year ending March 2017.

Hero MotoCorp said it sold 17.45 lakh units of two-wheelers in Q1 June 2016, up 6.08% against 16.45 lakh units in Q1 June 2015. This is the highest-ever quarterly sales for Hero MotoCorp.

Providing additional momentum to the growth trajectory has been the 125cc segment where the company now commands well over 50% market share, thanks to the large volume contributions from Glamour and Super Splendor. In Q1 June 2016, Glamour grew by 32% and Super Splendor grew by 29% over Q1 June 2015.

Hero MotoCorp recently launched the all-new Splendor iSmart 1 10 n++ the first motorcycle to have been completely designed and developed by the in-house R&D team at the Hero Centre of Innovation and Technology (CIT) at Jaipur, and the initial response from customers have been positive.

Hero MotoCorp is the worlds largest two-wheeler manufacturer in terms of production capacity.

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Vesuvius India hits record high after robust Q2 outcome
Aug 08,2016

The result was announced during market hours today, 8 August 2016.

Meanwhile, the S&P BSE Sensex was up 72.64 points or 0.26% at 28,150.99.

On BSE, so far 25,000 shares were traded in the counter as against average daily volume of 750 shares in the past one quarter. The stock hit a high of Rs 1,033 so far during the day, which is a record high for the counter. The stock hit a low of Rs 904.95 so far during the day. The stock had hit a 52-week low of Rs 620 on 25 August 2015. The stock had underperformed the market over the past one month till 5 August 2016, advancing 0.76% compared with 3.36% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 12.17% as against Sensexs 11.15% rise.

The small-cap company has equity capital of Rs 20.30 crore. Face value per share is Rs 10.

Vesuvius India is primarily a manufacturer and trader of refractories.

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Muthoot Finance spurts after clarification
Aug 08,2016

The company issued the clarification on Sunday, 7 August 2016.

Meanwhile, the BSE Sensex was up 110.97 points, or 0.40%, to 28,189.32.

On BSE, so far 2.68 lakh shares were traded in the counter, compared with average daily volume of 1.17 lakh shares in the past one quarter. Trading was volatile on the counter. The stock rose 7.73% at the days high of Rs 378.85 so far during the day. The stock fell 2.18% at the days low of Rs 344 in early trade. The stock hit a 52-week high of Rs 395.80 on 1 August 2016. The stock hit a 52-week low of Rs 152 on 23 September 2015. The stock had outperformed the market over the past 30 days till 5 August 2016, rising 26.52% compared with 3.22% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 82.58% as against Sensexs 11.30% rise.

The large-cap company has an equity capital of Rs 399.05 crore. Face value per share is Rs 10.

The officials of income tax department carried out a search at various premises of the company which commenced at 9:00 am on 5 August 2016 and continued till 7:00 am on 7 August 2016. The company said it cooperated with the investigation and has provided information and clarification sought by the officials. The firm said it is confident that the income tax department would have found during the search proceedings that books of accounts of the company have been maintained satisfactorily. The company clarified that it is not expecting any material adverse findings against the company by income tax department.

In a separate announcement on Saturday, 6 August 2016, Muthoot Finance said that it is the highest tax payer in Kerala. It paid Rs 524 crore during 2015-2016 as per audited financial statements for the year ended 31 March 2016.

Muthoot Finances net profit rose 47.56% to Rs 270.27 crore on 13.85% increase in total income to Rs 1300.82 crore in Q1 June 2016 over Q1 June 2015.

Muthoot Finance is the largest gold financing company in India in terms of loan portfolio.

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Hero MotoCorp gains after decent Q1 results
Aug 08,2016

The announcement was made during trading hours today, 8 August 2016.

Meanwhile, the BSE Sensex was up 78.70 points, or 0.28%, to 28,157.05.

On BSE, so far 56,000 shares were traded in the counter, compared with average daily volume of 25,020 shares in the past one quarter. The stock hit a high of Rs 3,525 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 3,410 so far during the day. The stock hit a 52-week low of Rs 2,259.10 on 7 September 2015. The stock had outperformed the market over the past 30 days till 5 August 2016, rising 10.74% compared with 3.22% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 19.04% as against Sensexs 11.30% rise.

The large-cap company has an equity capital of Rs 39.94 crore. Face value per share is Rs 2.

Hero MotoCorp is the worlds largest two-wheeler manufacturer in terms of production capacity.

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Aurobindo Pharma inches up after USFDA nod for a drug
Aug 08,2016

The announcement was made during market hours today, 8 August 2016.

Meanwhile, the S&P BSE Sensex was up 82.63 points or 0.29% at 28,160.98.

On BSE, so far 1.14 lakh shares were traded in the counter as against average daily volume of 1.24 lakh shares in the past one quarter. The stock hit a high of Rs 781.90 and a low of Rs 768 so far during the day. The stock had hit a record high of Rs 891.50 on 30 December 2015. The stock had hit a 52-week low of Rs 582 on 25 February 2016. The stock had underperformed the market over the past one month till 5 August 2016, advancing 0.12% compared with 3.36% rise in the Sensex. The scrip had also underperformed the market in past one quarter, declining 4.36% as against Sensexs 11.15% rise.

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

Aurobindo Pharma expects to launch the product in the current quarter (Q2 September 2016). The approved abbreviated new drug application (ANDA) is bioequivalent and therapeutically equivalent to the reference listed drug product (RLD) Zyvox Injection, 600 mg/300 mL (2 mg/mL), of Pharmacia & Upjohn Company (Pharmacia). Linezolid Injection is an anti-infective used to treat infections caused by susceptible Gram-positivebacteria in some specific conditions. The approved product has an estimated market size of $87 million in the US for the twelve months ended June 2016 according to IMS.

On consolidated basis, Aurobindo Pharmas net profit rose 39.4% to Rs 562.85 crore on 16.9% growth in net sales to Rs 3674.70 crore in Q4 March 2016 over Q4 March 2015.

Aurobindo Pharma manufactures generic pharmaceuticals and active pharmaceutical ingredients. The companys manufacturing facilities are approved by several leading regulatory agencies like US FDA, UK MHRA, Japan PMDA, WHO, Health Canada, MCC South Africa, ANVISA Brazil. The companys robust product portfolio is spread over 7 major therapeutic/product areas encompassing antibiotics, anti-retrovirals, CVS, CNS, gastroenterologicals, anti-allergies and anti-diabetics, supported by an outstanding R&D set-up. The company is marketing these products globally, in over 150 countries.

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Volumes jump at Bombay Burmah Trading Corporation counter
Aug 08,2016

Bombay Burmah Trading Corporation clocked volume of 2.11 lakh shares by 12:36 IST on BSE, a 29.76-times surge over two-week average daily volume of 7,000 shares. The stock rose 15.72% to Rs 468.60.

NTPC notched up volume of 50.74 lakh shares, a 17.91-fold surge over two-week average daily volume of 2.83 lakh shares. The stock fell 0.81% to Rs 160.

Indian Bank saw volume of 44.41 lakh shares, a 10.42-fold surge over two-week average daily volume of 4.26 lakh shares. The stock fell 0.67% to Rs 199.40.

Britannia Industries clocked volume of 1.12 lakh shares, a 9.68-fold surge over two-week average daily volume of 12,000 shares. The stock rose 7.81% to Rs 3,106.60 after consolidated net profit rose 13.15% to Rs 219.13 on 9.73% increase in total income to Rs 2236.05 crore in Q1 June 2016 over Q1 June 2015. The result was announced during trading hours today, 8 August 2016.

Zensar Technologies saw volume of 2.02 lakh shares, a 8.45-fold rise over two-week average daily volume of 24,000 shares. The stock rose 0.21% to Rs 1,106.

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