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  • 10-year bond yield to trade between 6.75-7%: Dhawal Dalal

    22 November, 2017 3:04 AM 25

    The fair value of the 10-year benchmark bond yield is between 6.75-7 percent in our opinion, says Dhawal Dalal of Edelweiss. Dhawal Dalal of Edelweiss said, "Bond market sentiment has improved dramatically after RBI's cancellation of OMO sale. The 10-year benchmark bond yield has declined by around 16 bps to 6.90 percent." "Market participants are debating

  • Universal Starch Chem Allied's appoints Ripudamansingh Vaghela as director

    21 November, 2017 4:54 PM 19

    1. Mr. Ripudamansingh Vaghela (DIN: 02102872)as Non Executive Non-Independent Additional Director of the Company w.e.f 20th November, 2017 to hold the office up to the date of the ensuing Annual General Meeting of the company. 2. Smt. Nayankuwar J. Rawal (DIN: 03605134)as Executive Non-Independent Additional Director of the Company w.e.f 20th November

  • TRAI moots cap removal for spectrum

    21 November, 2017 4:35 PM 20

    Telecom regulator TRAI on Tuesday recommended doing away with caps on spectrum holding in individual bands, and also mooted relaxing the overall ceiling. The Telecom Regulatory Authority of India, in its recommendation to the government, said the current limit allowing an operator to hold up to 50% of the total spectrum available within a band in a zone should

  • ‘Boost gas supply to petcoke ban-hit States’

    21 November, 2017 4:17 PM 23

    Diktat follows ban due to emissions India’s Oil Minister on Tuesday asked state oil firms to boost the supply of gas and alternative fuels in States where petroleum coke and furnace oil are banned due to high emissions. India imports about half of its annual consumption of 27 million tonnes of petcoke, Dharmendra Pradhan said, on popular social media

  • Canon India appoints Gary Lee as CFO, Vice President

    21 November, 2017 1:22 PM 24

    Imaging products and printing solutions maker Canon India today said it has appointed Gary Lee as Chief Financial Officer and Vice President of the company. Lee takes over the responsibilities from Anuj Aggarwal, who has been elevated as Vice President (Marketing) at Canon, Philippines. Under his new role, Lee will be overseeing the Finance & Taxation

  • Accumulate Glenmark Pharmaceuticals; target of Rs 733: Prabhudas Lilladher

    21 November, 2017 12:40 PM 24

    Glenmark (GNP) sales and adj. EBITDA and PAT were Rs22.2bn, Rs3.3bn and Rs2.1bn respectively vs our estimates of Rs21.4bn, 1.1bn and Rs83mn respectively in Q2FY18. The higher revenue was due to growth of 49% YoY in EU sales while beat in headline profits were due to strong cost controls in COGS, R&D exps and other operating overheads. Employee costs

  • Reliance Capital raises Rs 2,500 cr from banks, financial institutions

    21 November, 2017 12:37 PM 21

    The money has been raised through term loan and NCDs with maturity period ranging from 5-7 years. New Delhi: Reliance Capital, part of Anil- Ambani led Reliance Group, has raised Rs 2,500 crore from banks and financial institutions for refinancing its debt, banking sources said. The money has been raised through term loan and non- convertible debentures

  • Accumulate Power Grid Corporation; target of Rs 243: Prabhudas Lilladher

    21 November, 2017 12:26 PM 26

    Power Grid Corporation of India (PWG) reported a strong operational performance in 2QFY18. Sales at Rs72.5bn were up 16% YoY (PLe: Rs72.5bn) with strong growth in Transmission and Telecom Revenues. Revenue from Transmission segment was up 15.8% to Rs70.6bn, Consultancy was down 24.9% to Rs1.1bn while telecom was up 21.3% to Rs1.7bn. EBITDA was up 15.5% YoY at Rs64.7bn (PLe: Rs63.5bn), while

  • Market to remain sideways until a decisive move up; pharma a long-term bet: Experts

    21 November, 2017 11:01 AM 20

    The market is moving sideways in 10250-10350 range and chances are market will continue with sideways move till it makes a decisive move on the upside, said Ashwani Gujral. In the last hour of trade, market gave up some of the gains but managed to close in the green. The Sensex ended up 118.45 points at 33478.35, while the Nifty closed higher by 28.10 points

  • Hold Ashok Leyland; target of Rs 132: Dalmia Securities

    21 November, 2017 10:57 AM 18

    Ashok Leyland Limited’s (ALL) operating revenue witnessed a growth of 31% in the quarter ending 30th September, 2018, ending with a topline of over INR 60 billion. The Company’s total sales volumes saw a robust increase of over 22% in Q2 FY2018, versus the industry growth of 20% (as per data reported by SIAM). The increase was owing to 24% and 18% rise in Medium