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Board of McNally Bharat Engineering Company appoints CFO
Mar 31,2017

McNally Bharat Engineering Company announced that the Board of Directors of the Company at its meeting held on 31 March 2017 has appointed Lalit Khetan as the Chief Financial Officer of the Company with effect from 1 April 2017.

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Outcome of board meeting of Ushdev International
Mar 31,2017

Ushdev International announced that the Board of Directors of the company at its meeting held on 31 March 2017 approved the following -

The slump sale of
i) 9.9 MW of Tamil Nadu Undertaking to Ushdev Engitech TN
ii) 8 MW of Maharashtra Undertaking to Ushdev Engitech TN
iii) 1.6 MW of Karnataka Undertaking to Ushdev Windpark

Renounced the subscription to rights issue made by UIL Singapore and UIL Hongkong.

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Balasore Alloys allots 1 crore equity shares
Mar 31,2017

Balasore Alloys announced that the Committee for Preferential Issue of Warrants of the Board of Directors of the Company at its meeting held on 31 March 2017 has allotted 1 crore equity shares of Rs 5 each at a price of Rs 21.50 including premium of Rs 16.50 per share on preferential basis pursuant to conversion of warrants.

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Dish TV India to hold EGM
Mar 31,2017

Dish TV India announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 12 May 2017 .

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Board of India Nippon Electricals recommends dividend
Mar 31,2017

India Nippon Electricals announced that the Board of Directors of the Company at its meeting held on 30 March 2017, inter alia, have recommended the dividend of Rs 6 per equity Share (i.e. 60%) , subject to the approval of the shareholders.

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Thermax leads losers in BSEs A group
Mar 31,2017

Thermax declined 2.74% at Rs 959.90 at 13:40 IST. The stock topped the losers in A group. On the BSE, 9,858 shares were traded on the counter so far as against the average daily volumes of 5,246 shares in the past two weeks.

Gruh Finance fell 1.86% at Rs 396. The stock was the second biggest loser in A group. On the BSE, 61,000 shares were traded on the counter so far as against the average daily volumes of 44,000 shares in the past two weeks.

Sadbhav Engineering skid 1.86% at Rs 303.10. The stock was the third biggest loser in A group. On the BSE, 804 shares were traded on the counter so far as against the average daily volumes of 4.10 lakh shares in the past two weeks.

Sobha was down 1.84% at Rs 347.05. The stock was the fourth biggest loser in A group. On the BSE, 22,000 shares were traded on the counter so far as against the average daily volumes of 75,000 shares in the past two weeks.

Gujarat Pipavav Port lost 1.78% at Rs 165.45. The stock was the fifth biggest loser in A group. On the BSE, 9,545 shares were traded on the counter so far as against the average daily volumes of 32,000 shares in the past two weeks.

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Volumes jump at Satra Properties (India) counter
Mar 31,2017

Satra Properties (India) clocked volume of 3.20 crore shares by 13:31 IST on BSE, a 663.69-times surge over two-week average daily volume of 48,000 shares. The stock rose 9.92% to Rs 5.65.

Shoppers Stop notched up volume of 80.15 lakh shares, a 521-fold surge over two-week average daily volume of 15,000 shares. The stock rose 1.68% to Rs 366.50.

Riddhi Siddhi Gluco Biols saw volume of 5.93 lakh shares, a 294.25-fold surge over two-week average daily volume of 2,000 shares. The stock rose 6.6% to Rs 443.95.

Future Lifestyle Fashions clocked volume of 40.43 lakh shares, a 44.66-fold surge over two-week average daily volume of 91,000 shares. The stock surged 7.8% to Rs 262.50.

Deep Industries saw volume of 70.15 lakh shares, a 26.11-fold rise over two-week average daily volume of 2.69 lakh shares. The stock rose 2.76% to Rs 333.80.

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SASEC facilitating trade for speedier clearances with reduced transaction costs and greater predictability for trade
Mar 31,2017

South Asia Subregional Economic Cooperation (SASEC) is facilitating trade guided by the SASEC Trade Facilitation Strategic Framework (2014-2018) in the sub-region through various projects. The key projects underway in the region include, among others: (i) formulation and implementation of new Customs laws and regulations; (ii) strengthening of automated Customs systems; (iii) implementing provisions of the Revised Kyoto Convention (RKC) such as on pre-arrival processing, risk management and post-clearance audit; (iv) developing trade portals for better transparency; and (v) establishing trusted trader programs, which assure facilitation to those with proven record of compliance. The RKC is the legal instrument of the World Customs Organization (WCO) that aims to simplify and harmonize international customs procedures globally, in order to achieve faster, more predictable and efficient customs clearances.

Considering the progress made by India in the above areas, the Asian Development Bank (ADB) has been partnering with Indian Customs for sharing best practices and technical expertise with other countries under the SASEC umbrella. This form of South-South collaboration will support harmonizing the systems and processes within the sub-region thereby creating a conducive environment for intra-regional trade in SASEC to flourish.

The through-transport arrangements being finalized among Bangladesh, Bhutan, India and Nepal (BBIN) is an initiative that would help in seamless cross-border movement of vehicles/cargo among identified corridors bringing down transaction costs and delays and easing the border congestion.

ADB is also supporting India to develop integrated solutions for enhancing their logistics efficiency, covering the infrastructure and connectivity needed, as well as a logistics facilitation model that would enable faster and more efficient vehicle/cargo movement. This project would also cover international cargo, providing options for cargo clearance (e.g., at inland/ dry ports, bonded warehouses, etc.) enabling traders to manage their supply chain efficiently and decongesting ports.

ADB has been following a consultative process in working with private sector stakeholders for raising awareness and building their capacity and to make sure their views are reflected in designing the national trade facilitation initiatives.

All of these efforts are expected to lead to speedier clearances with reduced transaction costs and greater predictability for trade. These will also improve compliance levels and more efficient allocation and use of resources by the regulatory agencies in the sub-region, which will ultimately lead to enhanced trade activity and improved economic competitiveness of the SASEC sub-region.

The trade facilitation actions under SASEC are guided by the SASEC Trade Facilitation Strategic Framework (2014-2018), adopted by the SASEC members in March 2014, across its priority areas of: (i) Customs modernization/ harmonization, (ii) standards and conformity assessment, (iii) cross-border facilities improvement, (iv) through transport facilitation, and (v) institution/ capacity building. Under the Framework, various initiatives are underway to ensure that measures in relation to import, export and transit are efficient, proportionate, non-discriminatory, transparent and predictable and, to the extent possible, based on International standards and instruments.

Established in 2001, the SASEC program is a project-based partnership to promote regional prosperity by improving cross-border connectivity, boosting trade among member countries and strengthening regional economic cooperation. The Asian Development Bank is the secretariat and lead financier of the program, which to date has supported a total of 46 projects worth about $9.2 billion in transport, trade facilitation, energy, information and communications technology (ICT) and economic corridor development.

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IRB Infra nudges higher after bulk deals
Mar 31,2017

Meanwhile, the S&P BSE Sensex was down 60.84 points or 0.21% at 29,586.58. The S&P BSE Mid-Cap index was up 102.36 points or 0.73% at 14,087.88.

On the BSE, 1.86 lakh shares were traded on the counter so far as against the average daily volumes of 1.86 lakh shares in the past one quarter. The stock had hit a high of Rs 239.50 and a low of Rs 237 so far during the day. It had hit a 52-week high of Rs 266.25 on 23 September 2016 and a 52-week low of Rs 177.50 on 23 November 2016.

The mid-cap company has equity capital of Rs 351.45 crore. Face value per share is Rs 10.

Virendra D Mhaiskar sold 11.19 crore shares of IRB Infrastructure Developers (IRB Infra) at Rs 234 per share in a bulk deal on the NSE yesterday, 30 March 2017. Also, Virendra D Mhaiskar HUF offloaded 8.37 crore shares at Rs 234 a piece. Idea Soft Tech Park bought 19.57 crore shares at Rs 234 per share.

Promoter entities Virendra D Mhaiskar, Virendra D Mhaiskar HUF and Idea Soft Tech Park owned 31.86%, 23.83% and 1.06% stake respectively in IRB Infra end December 2016.

On consolidated basis, IRB Infras net profit rose 9.7% to Rs 184.22 crore on 5.8% growth in net sales to Rs 1410.89 crore in Q3 December 2016 over Q3 December 2015.

IRB Infrastructure Developers (IRB) is one of the largest private roads and highways infrastructure developers in India.

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JBF Petrochemicals commissions 1.25 MTPA Purified Terephthalic Acid (PTA) plant
Mar 31,2017

JBF Petrochemicals, step subsidiary of JBF Industries has commissioned its Purified Terephthalic Acid (PTA) plant at Mangalore SEZ, Karnataka. The plant with capacity of 1.25 million tonnes per annum, uses British Petroleums BP technology, known to be most cost effective and highly environment friendly. This is the single largest reactor train PTA plant.

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Capital First vaults on fund raising proposal
Mar 31,2017

The announcement was made after market hours yesterday, 30 March 2017.

Meanwhile, the S&P Sensex was down 73.08 points, or 0.25% at 29,574.34. The S&P BSE Mid-Cap index was up 74.67 points, or 0.53% at 14,060.19.

On the BSE, 51,000 shares were traded on the counter so far as against the average daily volumes of 1.05 lakh shares in the past one quarter. The stock had hit a high of Rs 778.95 and a low of Rs 740 so far during the day.

The stock had hit a 52-week high of Rs 796.25 on 28 July 2016 and a 52-week low of Rs 411 on 1 April 2016. The stock had outperformed the market over the past one month till 30 March 2017, advancing 10.67% compared with the Sensexs 3.15% rise. The scrip had also outperformed the market over the past one quarter advancing 29.05% as against the Sensexs 11.35% rise.

The mid-cap company has equity capital of Rs 97.42 crore. Face value per share is Rs 10.

Capital First said that the meeting of the debenture committee of the board of directors of the company will be held on 5 April 2017, to consider and approve the private placement of rated, listed secured/unsecured/redeemable, non-convertible securities in the nature of debentures.

Capital Firsts consolidated net profit rose 37.8% to Rs 61.36 crore on 48.1% increase in total income to Rs 735.95 crore in Q3 December 2016 over Q3 December 2015.

Capital First is a leading financial institution in India focused on providing debt financing to micro small and medium enterprises (MSME) and Indian consumers.

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Trident receives Export Excellence Awards
Mar 31,2017

Trident has been conferred with the Northern Region Export Excellence Award for outstanding Export Performance in the category of Star Trading House-Non-MSME, presented by Federation of Indian Export Organisations -

1. Gold Trophy 2nd Set of Northern Region Export Excellence Award
2. Silver Trophy 1st Set of Northern Region Export Excellence Award.

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Maruti Suzuki Indias Ciaz to be sold exclusively through NEXA outlets
Mar 31,2017

Maruti Suzuki India announced that starting 01 April 2017, its midsized sedan Ciaz will be sold exclusively through NEXA outlets across India.

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US stocks end higher
Mar 31,2017

U.S. stocks closed higher on Thursday, 30 March 2017 as financial shares rallied following a positive reading of economic growth and the tech-heavy Nasdaq returned to finish in record territory after a month-long wait.

The Dow Jones Industrial Average finished up 69.17 points, or 0.3%, at 20,728.49. gainers. The S&P 500 index closed up 6.93 points, or 0.3%, at 2,368.06, with seven out of the indexs 11 sectors finishing higher, led by gains in the financials, energy and industrial sectors.

The Nasdaq Composite Index climbed 16.80 points, or 0.3%, to close at a record 5,914.34 n++ its first record closing since March 1, and the 21st of the year n++ as it logged its fifth straight session of gains.

The S&P 500 moved into positive territory for March, up 0.2%, while the Dow remains down 0.4% for the month. The Nasdaq is up 1.5% in March.

Earlier, the government said the U.S. economy, as measured by gross domestic product, expanded at a 2.1% annualized pace in the fourth quarter, slightly faster than the previously reported 1.9% rate. Separately, jobless claims fell by 3,000 to 258,000 in the latest week, near their lowest level in decades.

The data helped support the gain in financial stocks, which are closely correlated to the pace of economic growth.

Muted trading has been the norm since Friday, when the Republican-led health-care bill was pulled from the House floor after the White House was unable to overcome resistance from a conservative GOP faction, the House Freedom Caucus. The failure raised questions about the Trump administrations ability to pass its economic agenda, which had been seen as market-friendly.

Cleveland Fed President Loretta Mester forecast GDP growth above 2% in 2017, and sees a n++sustained returnn++ to 2% inflation n++over the next year or so.n++ Mester also expects the Fed to raise interest rates again this year, but didnt say how many times might be likely. Currently, market participants anticipate three or four hikes in total over 2017.

Oil prices rose for a third straight session on Thursday, 30 March 2017 with U.S. benchmark crude topping $50 a barrel to finish at a more than three-week high. Larger-than-expected drawdowns in U.S. petroleum-product stockpiles and gains in refinery activity raised expectations of stronger demand for crude. Growing expectations that the Organization of the Petroleum Exporting Countries would agree to extend its production-cut agreement also contributed to oils price climb. Natural-gas prices, meanwhile, extended earlier declines after a weekly decline in domestic inventories of the fuel was in line with market expectations.

On the New York Mercantile Exchange, West Texas Intermediate crude for May delivery added 84 cents, or 1.7%, to settle at $50.35 a barrel. May Brent crude on Londons ICE Futures exchange rose 54 cents, or 1%, to $52.96, with the contract set to expire at Fridays settlement.

Bullion prices settled lower on Thursday, 30 March 2017. Gold prices fell adding to a monthly loss, as the U.S. dollar regained its footing above a key technical level and equities traded mostly higher, drawing some investor attention away from the precious metal.

June gold which is now the most-active contract, fell $8.80, or 0.7%, to settle at $1,248 an ounce. The June contract, which ended flat on Tuesday and lost roughly 0.2% on Wednesday, marked its lowest settlement since March 20. For the month, gold futures traded about 0.7% lower, but have gained 8.1% year to date. May silver ended at $18.206 an ounce, down 4.6 cents, or 0.3%.

The retreat for gold on Thursday came as the dollar, measured by the ICE U.S. Dollar Index climbed back above 100 after previously slipping below that level amid growing doubts about President Donald Trumps ability to implement dollar-boosting fiscal policies. The euro also weakened after a news report said European Central Bank officials had been alarmed by the market reaction to its March policy meeting.

A stronger dollar can weigh on commodities priced in the currency, making them less attractive to purchasers using other monetary units. The ICE U.S. Dollar Index was up 0.4% at 100.37, on track for a 0.6% gain this week.

Tomorrow, investors will receive a slew of economic reports, including February Personal Income (consensus 0.4%), Personal Spending (consensus 0.2%), and PCE Price Index (consensus 0.1%) at 8:30 ET, March Chicago PMI (consensus 55.8) at 9:45 ET, and the final University of Michigan Consumer Sentiment reading (consensus 97.6) at 10:00 ET.

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Vardhman Special Steels hits record high
Mar 31,2017

Meanwhile, the S&P BSE Sensex was down 80.97 points or 0.27% at 29,566.45. The S&P BSE Small-cap index was up 85.28 points or 0.6% at 14,416.53.

On the BSE, 43,000 shares were traded on the counter so far as against the average daily volumes of 15,315 shares in the past one quarter. The stock had hit a high of Rs 149 so far during the day, which is a record high. The stock hit a low of Rs 139 so far during the day. It had hit a 52-week low of Rs 45.30 on 12 April 2016.

The small-cap company has equity capital of Rs 18.56 crore. Face value per share is Rs 10.

Shares of Vardhman Special Steels have rallied 18.8% in three trading sessions from its closing of Rs 119.10 on 28 March 2017, after the company announced after market hours on 28 March 2017 that it has fixed 10 April 2017 as the record date for rights issue.

The rights issue is in the ratio 2:3 i.e. two equity shares for every three held. Total issue size is Rs 67.85 crore and issue price is Rs 50 per equity share.

Vardhman Special Steels net profit rose 16.7% to Rs 3.70 crore on 5.5% increase in net sales to Rs 172.13 crore in Q3 December 2016 over Q3 December 2015.

Vardhman Special Steels is a producer of special and alloy steels, catering to diverse requirements of hot rolled bars for engineering, automotive, tractor, bearing and allied industries.

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