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Get Two Days Free Trial from here and work with us click here http://www.ripplesadvisory.com US stocks fell in low volume on Wednesday in a broad decline triggered in part by a sharp drop in home resales. Contracts to buy previously-owned US homes fell in November to their lowest level in nearly a year, a sign that rising interest rates could be weighing on the housing market.  The PHLX housing sector index fell 1.2 percent to close at its lowest in three weeks. The S&P 500 posted its largest daily decline since October 11. Technology was the largest weight on major indexes, however, with Nvidia down 6.9 percent to USD 109.25 after short seller Citron Research said the market was overlooking the headwinds for the stock - which had earlier touched a record high.  The S&P 500 tech sector fell 0.9 percent after closing on Tuesday at its highest closing level since the year 2000.  "There was enough bad news during the day" to pull the market lower...

Bank of Maharashtra has made Malangaon village in the state completely cashless by opening Aadhaar-linked bank accounts for its residents. The Pune-based public sector bank said it was an effort post demonetisation to make the village in Sangli go completely digital.  Get Two Days Free Trial from here and work with us click here http://www.ripplesadvisory.com "Post the announcement of demonetisation, the push towards a cashless society and financial inclusion became the need of the hour. Bank of Maharashtra has helped achieve this vision in Malangaon with the help of the district collector and several government officials," the bank said in a statement.  Malangaon, located 3.5 km away from the bank's Shirdhon branch, has a population of about 4,500 and the main source of income is farming, specifically of grape. Among others, dairy production, kirana and medical stores make up a significant part of the economic activity in the village.  The main mode ...

Get Two Days Free Trial from here and work with us click here http://www.ripplesadvisory.com The US health regulator has banned import of drugs from Badrivishal Chemicals & Pharmaceuticals' Pune-based manufacturing facility.  The US Food and Drug Administration (USFDA) has issued the alert under 'Import Alert 66-40', which authorises the health regulator "detention without physical examination of drugs from firms which have not met drug GMPs".  The company's plant in Pune district manufactures active pharmaceutical ingredients and speciality chemicals. The products are exported to over 30 countries including the US, UK, Germany and France.  The drug firm's Pune-based plant is approved by Maharashtra FDA. The facility is spread across an area of over 12,000 square feet.

Get Two Days Free Trial from here and work with us click here http://www.ripplesadvisory.com The voltas management believes that the impact of demonetization of currency should normalize by February, well in time before the peak season kicks in. Inventory levels at industry-wide level is also within limits and is not a concern.  However, delivering revenue growth in UCP segment could be tough as it would have to grapple with 1) Demonetisation impact 2) Relatively high base of Q3FY16.  In MEP segment, the company expects to largely settle liabilities/claims of all the legacy projects by March 2017.  The management expects EBIT margins in this segment to progressively improve in FY18-19. The management highlighted that profitability has been under pressure among the leading MEP players (Drake and Skull, ETA etc) in Middle East.  It also noted decline in competitive intensity for a large MEP order in the Middle East, possibly because the contr...

Get Two Days Free Trial from here and work with us click here http://www.ripplesadvisory.com Lead futures were down during morning trade in the domestic market on Wednesday as investors and speculators trimmed their bets in the industrial metal amid muted physical demand for lead, from battery-makers, in the domestic spot market. Further, a downward trend in physical demand from battery-makers in the domestic spot market, influenced lead prices at futures trade.  At the MCX, lead futures for December 2016 contract is trading at Rs 139.90 per kg, down by 0.32 per cent, after opening at Rs 142.90, against a previous close of Rs 140.35. It touched the intra-day low of Rs 139.85 (at 10:27 hours).

Get Two Days Free Trial from here and work with us click here http://www.ripplesadvisory.com Competition Commission has cleared the proposed purchase of 2 per cent stake in handset maker Micromax by Madison India Opportunities Trust Fund (MIOTF) besides three other deals involving different companies.  In a tweet, the watchdog said it has approved "acquisition of equity stake in Micromax Informatics Limited by Madison India Opportunities Trust Fund".  MIOTF is registered with capital market regulator as an Alternative Investment Fund. Separately, Competition Commission of India (CCI) has given its nod to ICU Medical Inc buying drug major Pfizer's hospira infusion systems business. Post deal, Pfizer would own around 16.6 percent of ICU Medical, as per a release issued by the drug maker in October.  In another tweet, CCI said its has cleared "acquisition of Pfizer Inc's Hospira Infusion Systems business by ICHOSPIRA U Medical Inc". Pfizer ha...

Two Days FREE TRIAL SUBSCRIBE NOW: http://www.ripplesadvisory.com With an aim to expand it existing portfolio of beverages in the country, Coca-Cola India on Tuesday announced the launch of its "active hydration" beverage, Aquarius. The company said its entry into the "Active Hydration" segment marks its plans to shape the category which is currently at a nascent stage and has the potential to grow exponentially in the coming years.  "In India, it (Aquarius) is aimed at shaping the category of Active Hydration, targeted at young and urban consumers who are active-minded and lead active lifestyles," Debabrata Mukherjee, Vice President, Marketing and Commercial, Coca-Cola India and South West Asia, said in a statement.  "With its refreshing lemon flavour, the new product aims to establish new consumption occasions for consumers for their busy, on-the-go lifestyle. We expect Aquarius to shape the evolving Active Hydration category and help...