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Surya Industrial Corporation to hold AGM

Surya Industrial Corporation to hold AGM

Sep 14,2016

Surya Industrial Corporation announced that the Annual General Meeting (AGM) of the company will be held on 30 September 2016.

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Nikkei India Services PMI rises above 50 mark
Mar 03,2017

The Nikkei India Services Business Activity Index signalled growth in February as businesses recovered from the demonetisation-related disruptions seen in each of the previous three months. After slumping to a near three-year low last November, signalling the first monthly drop in output since June 2015, the headline index edged above the 50.0 no-change mark posting 50.3 (January: 48.7).

Having contracted for three months in a row, incoming new business also picked up in February. However, as was the case for output, the pace of growth in new work was marginal overall. Anecdotal evidence from survey participants suggested that, after being hampered by shortages of cash in the economy, demand for services in India improved.

The turnaround in business activity and inflows of new work came from the Financial Intermediation and Other Services categories, with further declines seen elsewhere. Nonetheless, rates of contraction softened in all cases.

With manufacturing production rising again in February, the seasonally adjusted Nikkei India Composite PMI Output Index rose from 49.4 in January to 50.7, pointing to the first increase in private sector activity across India since last October.

Other survey indicators painted a mixed picture of the service sectors health. Respondents became less optimistic about the 12-month outlook for activity, with sentiment falling since January as firms were concerned about market competition. Concurrently, services companies continued to reduce payroll numbers.

Employment has shown only one noteworthy monthly increase in the past one-and-a-half years (November 2015), though the rate of job losses in February was only fractional. By comparison, manufacturing staffing levels decreased over the month.

Backlogs of work at Indian services firms rose for the ninth successive month in February. The rate of accumulation was solid and the fastest since October 2016. In some cases, the increase in outstanding business was associated with difficulties in obtaining payments from clients. Goods producers also registered a sharper rise in work-in-hand.

Input prices facing services companies in India rose at the second-fastest pace in the current six-month sequence of inflation during February. According to survey participants, freight and raw material costs increased over the month. Higher cost burdens were also recorded in the manufacturing industry, where the rate of inflation climbed to a two-and-a-half year peak.

Services firms sought to pass rising costs on to customers by way of raising their own selling prices. The increase in output charges was the first in five months and the most pronounced since mid-2016. Meanwhile, factory gate prices rose at the sharpest rate in almost three-and-a-half years.

Commenting on the Indian Services PMI survey data, Pollyanna De Lima, economist at IHS Markit, and author of the report, said: n++The upturn in services activity follows news from the sister PMI survey showing factory production growing for the second straight month in February. With demand conditions strengthening in India, new business inflows rose in both sectors, leading to the first increases in private sector new work and output since October 2016. Nevertheless, growth rates were mild at best and far from their historical averages.

It is still too early to state that expansion rates will climb to their trend levels in the near term. Companies remain reluctant to take on additional staff and confidence towards the 12-month outlook for output dipped to its second-lowest mark in over one year. These factors indicate that, so far, firms are doubtful about the sustainability of the economic recovery.

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RIL surges on promoter shareholding rejig
Mar 03,2017

Meanwhile, the S&P BSE Sensex was down 65.28 points or 0.23% at 28,774.51.

On the BSE, 6.49 lakh shares were traded on the counter so far as against the average daily volumes of 4.03 lakh shares in the past one quarter. The stock had hit a high of Rs 1,287.80 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 1,237 so far during the day.

The stock had hit a 52-week low of Rs 925.70 on 23 May 2016. It had outperformed the market over the past one month till 2 March 2017, surging 18.04% compared with the Sensexs 2.17% rise. The scrip had also outperformed the market over the past one quarter, advancing 23.91% as against the Sensexs 9.95% rise.

The large-cap company has equity capital of Rs 3243.98 crore. Face value per share is Rs 10.

The promoter group entities of Reliance Industries (RIL) propose to restructure their shareholding in RIL by inter se transfer of shares among the promoter group entities and have made the necessary disclosures after market hours yesterday, 2 March 2017. The proposed inter se transfers will not result in any change in promoter group shareholding in RIL.

As part of the rejig, the Mukesh Ambani promoter group, which owns a near-majority stake in RIL, plans to shrink the number of firms owning shares in the company.

The promoter group entities acquiring the stake are Devarshi Commercials LLP, Karuna Commercials LLP, Tattvam Enterprises LLP, Srichakra Commercials LLP, Svar Enterprises LLP, Vasuprada Enterprises LLP, Shreeji Comtrade LLP, and Shrikrishna Tradecom LLP.

The above eight promoter group companies of RIL will acquire around 119 crore shares, or 36.7%, from 15 other promoter group companies in an inter se transfer of shares. The transaction will be at Rs 1,100.78 a share, a discount of 10.74% to RILs closing price of Rs 1,233.25 yesterday, 2 March 2017.

The total promoter holding in RIL stood at 45.11% end December 2016. Mukesh Ambani, chairman and managing director of RIL, and his wife and board member Nita Ambani owned 0.11% each in RIL.

RILs consolidated net profit rose 3.6% to Rs 7506 crore on 17.6% growth in net sales to Rs 79408 crore in Q3 December 2016 over Q3 December 2015.

Reliance Industries (RIL) is Indias largest private sector company. RILs activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and telecommunications.

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Punjab National Bank gets ratings assigned for proposed AT-1 Bond issue
Mar 03,2017

Punjab National Bank has received rating of BWR AA+ from Brickwork Ratings for the Banks proposed fresh issue of Basel III Compliant Additional Tier I Bond of Rs 1500 crore.

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Solar Industries India intimates of hike in promoter shareholding
Mar 03,2017

Solar Industries India announced that Manish Nuwal (Promoter, MD and CEO) has acquired 100000 equity shares comprising of 0.1105% of the paid up share capital of the Company through market purchase on 28 February 2017.

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Tata Motors gains on fund raising plans
Mar 03,2017

The announcement was made after market hours yesterday, 2 March 2017.

Meanwhile, the BSE Sensex was down 34.66 points, or 0.14%, to 28,799.26.

On the BSE, 87,698 shares were traded in the counter so far, compared with average daily volumes of 5.59 lakh shares in the past one quarter. The stock had hit a high of Rs 467 and a low of Rs 462.45 so far during the day.

The stock had hit a 52-week high of Rs 598.60 on 7 September 2016. The stock had hit a 52-week low of Rs 314.75 on 2 March 2016. The stock had underperformed the market over the past one month till 2 March 2017, falling 13.15% compared with the Sensexs 2.17% rise. The scrip had also underperformed the market over the past one quarter, gaining 6.47% as against the Sensexs 9.95% rise.

The large-cap auto major has equity capital of Rs 577.47 crore. Face value per share is Rs 2.

Tata Motors announced that the board constituted committee meeting held on 2 March 2017, approved offering for subscription 5,000 rated, listed, unsecured, 7.71% coupon, redeemable, non-convertible debentures of face value of Rs 10 lakh each aggregating up to Rs 500 crore on a private placement basis. NCDs have tenure of 1826 days from the deemed date of allotment. The date of maturity of NCDs is 3 March 2022.

Tata Motors consolidated net profit fell 96.2% to Rs 111.57 crore on 2.2% decline in net sales to Rs 66855.18 crore in Q3 December 2016 over Q3 December 2015.

Tata Motors is a market leader in commercial vehicles in India. The companys British luxury unit Jaguar Land Rover (JLR) sells premium luxury cars.

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JVL Agro gains as Asia Investment Corp hikes stake
Mar 03,2017

Meanwhile, the S&P BSE Sensex was down 63.98 points or 0.22% at 28,775.81.

On the BSE, 17,000 shares were traded on the counter so far as against the average daily volumes of 79,825 shares in the past one quarter. The stock had hit a high of Rs 20.80 and a low of Rs 20.10 so far during the day.

The stock had hit a 52-week high of Rs 25.45 on 22 June 2016 and a 52-week low of Rs 14 on 22 November 2016. It had underperformed the market over the past one month till 2 March 2017, sliding 6.44% compared with the Sensexs 2.17% rise. The scrip had, however, outperformed the market over the past one quarter, advancing 19.88% as against the Sensexs 9.95% rise.

The small-cap company has equity capital of Rs 16.79 crore. Face value per share is Rs 1.

Asia Investment Corporation (Mauritius) held 2.81% stake in JVL Agro Industries end December 2016.

Shares of JVL Agro Industries were on a declining spree in the recent past. The stock had fallen 6.44% in the preceding four trading sessions to settle at Rs 19.60 yesterday, 2 March 2017, from its close of Rs 20.95 on 23 February 2017.

JVL Agro Industries net profit fell 21.5% to Rs 10.78 crore on 8.2% decline in net sales to Rs 1042 crore in Q3 December 2016 over Q3 December 2015.

JVL Agro Industries is engaged in the operations related to production of vanaspati, refine and mustard oil, and trading of goods.

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DCB Bank gains on plans to raise funds
Mar 03,2017

The announcement was made after market hours yesterday, 2 March 2017.

Meanwhile, the BSE Sensex was down 57.15 points, or 0.20%, to 28,782.64.

On the BSE, 6,697 shares were traded in the counter so far, compared with an average volume of 2.02 lakh shares in the past one quarter. The stock had hit a high of Rs 153.70 and a low of Rs 152.80 so far during the day. The stock had hit a 52-week high of Rs 158.70 on 2 March 2017. The stock had hit a 52-week low of Rs 71.70 on 29 March 2016.

DCB Bank said that a meeting of the board of directors of the bank will be held on 7 March 2017, to consider and approve, issue of securities/shares, including issue of securities/shares to qualified institutional buyers.

DCB is a private sector bank.

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L&T Construction wins orders
Mar 03,2017

Larsen & Toubro announced that its construction arm has secured orders worth Rs 2170 crore across its various business segments. The orders were received under the following segments -

Power transmission and distribution business - Rs 1169 crore
Water and effluent treatment business - Rs 360 crore
Building and factories business - Rs 320 crore
Others segments - Rs 321 crore

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L&T Construction wins orders
Mar 03,2017

Larsen & Toubro announced that its construction arm has secured orders worth Rs 2170 crore across its various business segments. The orders were received under the following segments -

Power transmission and distribution business - Rs 1169 crore
Water and effluent treatment business - Rs 360 crore
Building and factories business - Rs 320 crore

Others segments - Rs 321 crore

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ICICI Bank issues Fixed Rate Notes aggregating USD 300 million
Mar 03,2017

ICICI Bank acting through its DIFC (Dubai) branch, has issued 5.5 year Fixed Rate Notes aggregating USD 300 million under its GMTN programme. The notes were sold under RegSformat. The notes carry a coupon of 3.25% and were offered at an issue price of 99.447.

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Government has added over 4000 medical PG seats for 2017-18: J P Nadda Government has added over 4000 medical PG seats for 2017-18: J P Nadda
Mar 03,2017

Shri J P Nadda, Union Minister of Health and Family Welfare today stated that n++an all-time record number of over 4,000 PG medical seats have been approved by Government of India in various medical colleges and hospitals for the academic session 2017-18 this year, taking the total number of PG seats available to 35,117.n++

Thanking Prime Minister Shri Narendra Modi for his visionary leadership and constant guidance, Shri Nadda said that this will further boost our resolve to strengthen tertiary care and improve the medical education in the country. The Health Minister added that of the total increase, 2,046 seats are in medical colleges. Looking at the need to increase PG seats in clinical subjects, the Government had decided to amend the teacher student ratio in clinical subjects in government medical colleges. This change alone has resulted in the creation of 1,137 extra seats in 71 colleges. Many others out of the total of 212 government colleges are sending their proposals and it is expected that at least 1000 more seats can be added during the month of March 2017, Shri Nadda stated.

This includes DNB seats, which are equivalent to MD/MS, have increased by 2,147 in the last one year. Shri Nadda said that there has been a total addition of 4,193 PG seats in the country so far, and a further addition of more than 1000 seats is likely during March 2017. The budget announcement of adding 5,000 PG medical seats in the country is thus likely to be achieved soon, the Union Health Minister said.

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Government has added over 4000 medical PG seats for 2017-18: J P Nadda
Mar 03,2017

Shri J P Nadda, Union Minister of Health and Family Welfare today stated that n++an all-time record number of over 4,000 PG medical seats have been approved by Government of India in various medical colleges and hospitals for the academic session 2017-18 this year, taking the total number of PG seats available to 35,117.n++

Thanking Prime Minister Shri Narendra Modi for his visionary leadership and constant guidance, Shri Nadda said that this will further boost our resolve to strengthen tertiary care and improve the medical education in the country. The Health Minister added that of the total increase, 2,046 seats are in medical colleges. Looking at the need to increase PG seats in clinical subjects, the Government had decided to amend the teacher student ratio in clinical subjects in government medical colleges. This change alone has resulted in the creation of 1,137 extra seats in 71 colleges. Many others out of the total of 212 government colleges are sending their proposals and it is expected that at least 1000 more seats can be added during the month of March 2017, Shri Nadda stated.

This includes DNB seats, which are equivalent to MD/MS, have increased by 2,147 in the last one year. Shri Nadda said that there has been a total addition of 4,193 PG seats in the country so far, and a further addition of more than 1000 seats is likely during March 2017. The budget announcement of adding 5,000 PG medical seats in the country is thus likely to be achieved soon, the Union Health Minister said.

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DCB Bank may gain on plans to raise funds
Mar 03,2017

DCB Bank said that a meeting of the board of directors of the bank will be held on 7 March 2017, to consider and approve, issue of securities/shares, including issue of securities/shares to qualified institutional buyers. The announcement was made after market hours yesterday, 2 March 2017.

TCS has launched the next version of HOBS (Hosted OSS/BSS)- a TM Forum certified platform for digital enterprises- at Mobile World Congress in Barcelona. The announcement was made after market hours yesterday, 2 March 2017.

ICICI Bank acting through its DIFC (Dubai) branch, priced an issuance of 5.5 year fixed rate notes for an aggregate principal amount of $300 million. The notes were sold under the RegS format. The notes carry a coupon of 3.25% and were offered at an issue price of 99.447. The announcement was made after market hours yesterday, 2 March 2017.

Bharti Airtel has clarified with regards to news item titled Nokia, Airtel join hands on 5G, IoT applications that this is a routine ordinary course of business transaction that cannot and does not have a material impact on the company. Bharti Airtel has a long term strategic partnership with Nokia for network equipment and the present partnership is an extension of the association, it added. The announcement was made after market hours yesterday, 2 March 2017.

Tata Motors announced that the board constituted committee meeting held on 2 March 2017, approved offering for subscription 5,000 rated, listed, unsecured, 7.71% coupon, redeemable, non-convertible debentures of face value of Rs 10 lakh each aggregating up to Rs 500 crore on a private placement basis. NCDs have tenure of 1826 days from the deemed date of allotment. The announcement was made after market hours yesterday, 2 March 2017.

Corporation Bank has fixed the banks tenor based Marginal Cost of Funds Based Lending Rate (MCLR), for all new rupee loans and advances including renewals from 1 March 2017. Overnight MCLR was fixed at 8.25%, one month MCLR was fixed at 8.25%, three months MCLR was fixed at 8.3%, six months MCLR was fixed at 8.65% and one year MCLR was fixed at 8.75%. The announcement was made after market hours yesterday, 2 March 2017.

Hindalco Industries said that a meeting of the Capital Raising Committee will be held on or after 7 March, 2017 to inter alia consider and approve the issue price including a discount, if any thereto as permitted under the SEBI ICDR Regulations for the equity shares to be allotted to qualified institutional buyers pursuant to the QIP. The announcement was made after market hours yesterday, 2 March 2017.

Accel Frontline will be in focus. The board of directors of Accel Frontline approved the sale of the entire stake of a subsidiary company Accel Systems & Technologies Pte., Singapore (ASTL). The announcement was made after market hours yesterday, 2 March 2017.

National Aluminium Company said that the company has posted 16.8% growth in bauxite production upto February 2017 with a volume of 65.64 lakh tonnes, the highest since its inception. Similarly, the hydrate production at its refinery has also registered an increase of 6.8%. The hydrate production till February 2017 was 18.9 lakh tonnes as against 17.7 lakh tonnes for the same period in the previous year. At its aluminium smelter, cast metal production grew by 3.79% and the aluminium metal sales grew by 2.68%. The announcement was made after market hours yesterday, 2 March 2017.

Separately, the companys board of directors has approved payment of interim dividend of Rs 2.80 per share for the financial year ending 31 March 2017. The announcement was made after market hours yesterday, 2 March 2017.

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Outcome of board meeting of Dynacons Systems & Solutions
Mar 02,2017

Dynacons Systems & Solutions announced that the Board of Directors of the Company at its meeting held on 02 March 2017 has approved the following -

To convene EGM on 29 March 2017.

To consider alteration of Articles of Association of the Company in the EGM of the Company.

To issue 4.55 lakh equity shares and 27.95 lakh warrants on preferential basis.

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Board of Trilogic Digital Media appoints directors
Mar 02,2017

The Board of Directors of Trilogic Digital Media has approved the appointment of directors at its meeting held on 02 March 2017 -

Aparna Shah as Additional Executive Director
Shivani Jaisingh as Additional Executive Director
Arun Kareer as Additional Director
Shivanshu Pandey as Additional Independent Director

All appointments are with effect from 02 March 2017

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