Corporate News 24-Sep-15

·         Government de-licenses use of very low frequency bands

Government de-licenses use of very low frequency bands for the automotive sector; positive for Maruti Suzuki. The government has de-licensed some very low frequency bands for use to the automotive sector. These bands are used for next generation safety systems like blind spot monitoring, adaptive cruise control and lane departure warnings.The move will immediately benefit automakers in exports to developed markets wherein these systems are currently used and could not be tested in India due to the restrictions.

                                                               

·         Bharti Airtel partners with Liquid Telecom to provide faster internet

Bharti Airtel partners with Liquid Telecom to provide faster internet speeds using the Liquid Telecom’s 20,000 long terrestrial fibre networks.

                                                                                

·         HCL Tech launches a Digital Service Exchange platform

HCL Technologies announced the launch of a new Digital Service Exchange platform enabled by Service Now software. This platform provides Service Integration and Management ( SIAM) capabilities to enterprises allowing them to request and receive business services efficiently across their organizations. This offering combines Service Now's industry-leading service management platform with HCL's expertise in enterprise service management process design, process and technology integration and organizational change enabling a united service experience.

·         MindTree Ltd allots 3,124 equity shares under ESOPs

MindTree Ltd has informed regarding 'Allotment of 3,124 Equity Shares of Rs.10/- each, under Employee Stock Option Plan 2001 (Program 2) and 1,771 Equity Shares of Rs.10/- each under Mindtree Employee Restricted Stock Purchase Plan 2012 (Program 8) on September 24, 2015'

·         Suzlon bags contracts to supply 105 MW wind turbines

Suzlon has bagged contracts to supply 105 MW (50 turbines of 2.1 MW each) wind turbines in projects located across Andhra Pradesh, Gujarat, Karnataka, Madhya Pradesh and Tamil Nadu.                                                                                                   

·         Balmer Lawrie plans capex of Rs400 crore

Balmer Lawrie in Its AGM announced a capex plan of Rs400 crore for the next three years. The mini-ratna company will also infuse another Rs100 crore for further expansion and modernisation of its ongoing activities. All these will go to help the company double its turnover to Rs 3,000 crore over the next five years.   

                                           

·         RECL inks MoU with for extending financial assistance

Rural Electrification Corporation Ltd (RECL) has announced that the company has on September 23, 2015 signed Memorandum of Understanding ( MoU) with Andhra Pradesh Power Generation Corporation and Transmission Corporation of Andhra Pradesh, for extending financial assistance to: 1. Andhra Pradesh Power Generation Corporation (APGENCO) of Rs3,000 crore for the proposed 500 MW Solar Power Generation Project in Anantapur District of Andhra Pradesh; and 2. Transmission Corporation of Andhra Pradesh (APTRANSCO) of Rs6,000 crore for various Transmission & System improvement projects coming up in the Capital region of Andhra Pradesh.

CS OPENING BELL 24-Sep-15

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CS OPENING BELL:

NIFTY SPOT DOWN 12@ 7832

SENSEX DOWN 50@25770

BANK NIFTY FUTURES DOWN 72@17200

CS NIFTY FUTURES (SEPTEMBER) OVERVIEW

TREND MIXED TO BULLISH

RES2:7925

RES 1:7895     

SUP1:7825

SUP2:7795

CS BANK NIFTY FUTURES (SEPT) OVERVIEW

TREND MIXED TO BULLISH

RES 2:17425

RES 1:17325

SUP1: 17025

SUP2:16915

HAPPY TRADING

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+917316790000

INDIAN EQUITY BENCHMARKS

INDIAN BENCHMARKS snap 2-day losing streak

                                                                   

INDIAN EQUITY BENCHMARKS  snapped a two-day losing streak to end slightly higher as investors bought beaten-down bank stocks, but capped gains ahead of the monthly derivatives contracts expiry on Thursday. The S&P BSE Sensex and CNX Nifty ended 0.67% and 0.43% higher each.

                                                   

Headlines for the day:

Forex fluctuation to hurt earnings
Tide Water surges on open offer
Motherson Sumi drops as Volkswagen admits manipulating software.

                          

The crucial resistance for Nifty is now seen at 7895 and above this 7925. Support for the immediate term is now placed at 7825 and next support will be 7795.

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Corporate News 23-Sep-15

·         Tech Mahindra signs agreement to provide full end-to-end services

 The North American divisions of AAA Group, and Tech Mahindra, an Indian multinational specialized in digital transformation, have signed an agreement to provide full end-to-end solution services to their aerospace and defence customers, positive read-thru.

                                                                                                                                                                                          ·         ADB lowers growth forecasts for India, China

The Asian Development Bank ( ADB) lowered growth projections for India for the current fiscal to 7.4%, from the 7.8% earlier, citing weak monsoon, poor external demand and inability of the government to push economic reforms. The ADB report further said because of slowing growth in India and also China, the growth forecasts for GDP in the region has been revised down to 5.8% in 2015 and 6% in 2016 from the March estimate of 6.3% for both years.

                                                                                

·         Suzlon bags 105 MW Turnkey orders

Suzlon Energy Ltd has informed regarding a Press Release dated September 23, 2015, titled 'New order wins continue; Suzlon bags 105 MW Turnkey orders'.

·         Sterlite Tech acquires global telecom software product company; stk up

Sterlite Technologies has entered into a definitive agreement for the acquisition of Elite core Technologies, a global telecom software product company.Elitecore is a leading provider of Operations Support Services /Business Support Services and is majority owned by First Carlyle Ventures Mauritius, whose affiliate is advised by The Carlyle Group. Elite core was established in 1999 by highly experienced software technocrats with over 20 years of experience.

·         Court directs Britannia to pay pensioners their dues

BIL pensioners have won a decade-long battle, after a Bengaluru court directed the biscuits major to pay pensions to its former employees who retired after March 2003 and also the triennial rise for them stopped in April 2004. Britannia had converted the defined benefit pension scheme to defined contribution type with retrospective effect, to deny the pensioners dues since 2003, going against the existing fund rules. About 200 members of Pensioners Welfare Association (approx 220+), who retired from BIL, have been fighting a protracted legal battle with BIL against this retrospective change, contrary to their terms of service and promises made.

·         Ujaas Energy gains on receiving LoA worth Rs65.88 cr

 Shares of Ujaas Energy surged nearly 4%, touching to Rs16.14, after receiving a letter of intent (LoI) for 10 megawatts of Teesta Canal Fall Hydroelectric Power Plant, Haptiagachh, Uttar Dinajpur, West Bengal.   

                                           

·         Lupin allotted 102129 equity shares under ESOPs

Lupin Ltd has informed that the Allotment Committee of Directors at its meeting held on September 23, 2015 has allotted 102129 fully paid up equity shares of Rs2 each. These shares have been allotted upon exercising of options granted to the employees under Stock option plans of the Company. In view of the above, the issued and paid up capital of the Company has been increased to Rs90,03,68,172 consisting 45,01,84,086 equity shares of Rs2 each.

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