Engineers India may gain after good Q2 result, liberal bonus issue

Engineers India's net profit rose 21.42% to Rs 93.75 crore on 22.60% decline in total income to Rs 394.98 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 16 November 2016. In a separate announcement, Engineers India said that its board approved 1:1 bonus issue of shares.

Bharti Airtel announced the completion of the merger of its subsidiary Airtel Bangladesh with Robi Axiata, a unit of Axiata Group Berhad. The merger was completed following the fulfilment of the condition precedents to the agreement and filing of the merger order with the registrar of joint stock companies and firms of Bangladesh Court. Post the merger, Axiata will hold 68.7% stake in the combined entity, while Airtel will hold 25%. The remaining 6.3% stake will be held by NTT DoCoMo. The announcement was made after market hours yesterday, 16 November 2016.

The combined entity will be the second largest mobile operator in Bangladesh with approximately 32.2 million customers and will operate under the Robi Axiata brand. It is well positioned to deliver an unparalleled portfolio of innovative mobile and broadband offerings at affordable rates with deep network coverage.

The joint strengths of Robi and Airtel sets the stage for the company to deliver the widest mobile network coverage across Bangladesh, enhancing its stronghold in the mobile Internet segment as well as consolidating its position as the second largest operator in the country.

The merger strengthens the long-term sustainability of the Bangladesh telecoms landscape and business environment, and will secure faster nationwide rollout of mobile broadband as well as contribute significantly to the overall economy of the country.

ITC after market hours yesterday, 16 November 2016 announced that King Maker Marketing, Inc., USA has ceased to be a subsidiary of the company with immediate effect. It may be recalled that ITC had announced on 9 October 2016, regarding divestment of the company's entire shareholding in its wholly owned subsidiary King Maker Marketing, Inc., USA.

Indraprastha Gas' net profit rose 41.87% to Rs 144.18 crore on 1.21% rise in total income to Rs 987.57 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 16 November 2016.

Shipping Corporation of India reported net loss of Rs 20 crore in Q2 September 2016 as compared to net profit of Rs 161.83 crore in Q2 September 2015. Total income fell 29.58% to Rs 805.77 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 16 November 2016.

Reliance Communications (RCom), through its wholly-owned subsidiary Reliance Globalcom Services Inc, acquired a newly incorporated company named "Onyx NewCo LLC" (ONL), a Delaware Registered Company, on 15 November 2016. Delaware is a state located in the United States. ONL will be a telecommunications company, which is yet to commence its business operations. The announcement was made after market hours yesterday, 16 November 2016.

On a consolidated basis, Voltas' net profit rose 7.21% to Rs 72.11 crore on 4.31% decline in total income to Rs 1047.30 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 16 November 2016.

Greenply Industries said that MSCI has announced the changes to constituents for the MSCI Global Small Cap Indexes and as part of change, Greenply industries will be added to the said index. Change in constituents for the MSCI Global Small Cap Indexes will take place as of the close of 30 November 2016. The announcement was made after market hours yesterday, 16 November 2016.

MSCI is a leading provider of benchmark indices and risk management analytics products. Many global mutual funds passively track MSCI indices. Hence any addition or deletion of a stock or change in weightage of a stock in MSCI indices will require the fund tracking MSCI indices to make adjustment to its portfolio.

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