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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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Kedia Construction Company to hold board meeting
Jun 07,2017

Kedia Construction Company will hold a meeting of the Board of Directors of the Company on 10 June 2017.

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Saboo Sodium Chloro to hold board meeting
Jun 07,2017

Saboo Sodium Chloro will hold a meeting of the Board of Directors of the Company on 12 June 2017.

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Good gains for bullions
Jun 07,2017

Bullion metals ended higher at Comex on Tuesday, 06 June 2017. Gold futures on Tuesday posted the highest close since early November, with analysts pinning the gain in part on haven investment demand sparked by Mideast tensions.

Gold for August delivery rose $14.80, or 1.2%, to settle at $1,297.50 an ounce. Prices extended their streak of gains into a third-consecutive session and finished at the highest for a most-active contract since 4 Nov 2016.

July silver rose 12.9 cents, or 0.7%, to $17.71 an ounce.

Weakness in the U.S. dollar, with the ICE U.S. Dollar Index edging down by 0.3%, and some losses among U.S. equities, helped to lift investment demand for gold.

But this week also has brought a rift between Qatar and other Mideast nations, helping to further boost golds appeal as a hedge against uncertainty.

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Nitin Castings to hold board meeting
Jun 07,2017

Nitin Castings will hold a meeting of the Board of Directors of the Company on 10 June 2017.

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Lotus Chocolate Company to hold board meeting
Jun 07,2017

Lotus Chocolate Company will hold a meeting of the Board of Directors of the Company on 12 June 2017.

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Sudal Industries to hold board meeting
Jun 07,2017

Sudal Industries will hold a meeting of the Board of Directors of the Company on 14 June 2017.

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Bank of Maharashtra reviews MCLR rates
Jun 07,2017

Bank of Maharashtra has reviewed MCLR rates with effect from 07 June 2017 as under -

Overnight - 8.30%
One month - 8.35%
Three month - 8.40%
Six month - 8.75%
One year - 8.75%

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Reliance Communications gets revision in credit ratings
Jun 07,2017

Reliance Communications announced that Moodys Investors Service has revised corporate family rating and senior secured bond rating to Ca from Caa1 and outlook is negative. Also Fitch Ratings has revised Companys Long-Term Foreign and Local-Currency Issuer Default Ratings to RD from CCC and revised the bond rating to C/RR4 from CCC/RR4.

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Idea Cellular allots 233,230 equity shares
Jun 07,2017

Idea Cellular has allotted 233,230 equity shares of Rs 10 each under ESOS on 05 June 2017. With this allotment, the equity share capital of the Company stands increased to 3606040941 equity shares of Rs 10 each aggregating to Rs 3606.04 crore.

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Adani Power gains after board OKs spinning out Mundra unit
Jun 07,2017

Meanwhile, the S&P BSE Sensex was up 78.89 points, or 0.25% to 31,269.45.

On the BSE, 2.69 lakh shares were traded in the counter so far, compared with average daily volumes of 20.92 lakh shares in the past one quarter. The stock had hit a high of Rs 28 and a low of Rs 27.55 so far during the day.

The stock hit a 52-week high of Rs 46.30 on 11 April 2017. The stock hit a 52-week low of Rs 23.35 on 9 November 2016.

The stock had underperformed the market over the past one month till 6 June 2017, falling 11.81% compared with 4.23% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 29.22% as against Sensexs 7.92% rise. The scrip had also underperformed the market in past one year, falling 9.02% as against Sensexs 15.48% rise.

The large-cap company has equity capital of Rs 3856.94 crore. Face value per share is Rs 10.

Adani Power announced after market hours yesterday, 6 June 2017, that its board approved a proposal to hive off its flagship Mundra power generating business undertaking, generating 4620 megawatts (MW) of power, to its subsidiary company, namely, Adani Power (Mundra). The transaction will put Mundra undertaking at par with the other operating subsidiaries of the company, with specific strategic focus as well as specific financial arrangements.

On a consolidated basis, Adani Power reported net loss of Rs 4960.53 crore in Q4 March 2017 as against net profit of Rs 1012.19 crore in Q4 March 2016. Net sales declined 16.91% to Rs 6352.23 crore in Q4 March 2017 over Q4 March 2016.

Adani Power is the largest private power producer in India with an installed capacity of 10,480 MW.

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Adani Power rises after board OKs spinning out Mundra unit
Jun 07,2017

Meanwhile, the S&P BSE Sensex was up 78.89 points, or 0.25% to 31,269.45.

On the BSE, 2.69 lakh shares were traded in the counter so far, compared with average daily volumes of 20.92 lakh shares in the past one quarter. The stock had hit a high of Rs 28 and a low of Rs 27.55 so far during the day.

The stock hit a 52-week high of Rs 46.30 on 11 April 2017. The stock hit a 52-week low of Rs 23.35 on 9 November 2016.

The stock had underperformed the market over the past one month till 6 June 2017, falling 11.81% compared with 4.23% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 29.22% as against Sensexs 7.92% rise. The scrip had also underperformed the market in past one year, falling 9.02% as against Sensexs 15.48% rise.

The large-cap company has equity capital of Rs 3856.94 crore. Face value per share is Rs 10.

Adani Power announced after market hours yesterday, 6 June 2017, that its board approved a proposal to hive off its flagship Mundra power generating business undertaking, generating 4620 megawatts (MW) of power, to its subsidiary company, namely, Adani Power (Mundra). The transaction will put Mundra undertaking at par with the other operating subsidiaries of the company, with specific strategic focus as well as specific financial arrangements.

On a consolidated basis, Adani Power reported net loss of Rs 4960.53 crore in Q4 March 2017 as against net profit of Rs 1012.19 crore in Q4 March 2016. Net sales declined 16.91% to Rs 6352.23 crore in Q4 March 2017 over Q4 March 2016.

Adani Power is the largest private power producer in India with an installed capacity of 10,480 MW.

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Zydus Cadila gets USFDA approval to market Mesalamine Delayed - Release Tablets USP, 1.2 g
Jun 07,2017

Zydus Cadila announced that USFDA has given its final approval to market Mesalamine Delayed - Release Tablets USP, 1.2 g in the US market. Zydus Cadila was the first to file an Abbreviated New Drug Application for a generic version of Lialda (mesalamine). The product will be manufactured at the Maurya manufacturing facility.

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More than 1.17 crore people skilled under Ministry of Skill Development and Entrepreneurship programmes
Jun 07,2017

Marking the completion of three years of inclusive growth and development under the NDA government, Minister of State (I/C), Ministry of Skill Development and Entrepreneurship Shri Rajiv Pratap Rudy said that his Ministry has trained more than 1.17 crore aspirants in various skills through MSDE schemes and programmes since the inception of Skill India. This is apart from the numbers contributed through skill development schemes and initiatives under other Central Ministries.

Shri Rudy said, that Skill India is a silent revolution that is underway and it is a joint investment that the government along with the private partners is making for the future growth of the country. He said it is a path that needs to be tread very carefully since it involves the future of the youth of our country. He said, what we sow today is what we will reap tomorrow. We have hence taken the first two years, to set our base right and align the skill ecosystem to national standards of skill qualification.

Shri Rudy said that Pradhan Mantri Kaushal Vikas Yojana (PMKVY), which was launched on July 15, 2015 alone has witnessed more than 26. 5 lakh people getting trained in skills of their choice till date, of which 50 per cent are women candidates.

He said it is good to see that more and more women candidates are coming forward to take up skills. Last year women participation under PMKVY was 40%. n++I am elated to see that we have an equal male female ratio this year cumulativelyn++ the Minister added.

Shri Rudy said, n++The industry/private sector will only partner when they see quality workforce coming out from Skill India. We are seeing that transition happen gradually. More and more corporate are partnering with us on different levels whether is it on engaging with apprentices, extending infrastructure support, contribution through CSR funds and hiring of resources.n++

On monitoring of fraudulent practices, shri Rudy said, n++A handful of organizations claiming to be PMKVY agencies promising jobs to unemployed youth were taking money and duping the public in the name of MSDE. Such advertisements were found more in vernacular dailies. We condemn such practices and have filed FIRs against them.n++ He cautioned the public at large to be vary of such frauds and check for the right affiliated centres before joining.

Secretary MSDE Shri K P Krishnan said that vocational education is one of the point amongst the 52 items mentioned in the Concurrent list under 7th schedule of the Constitution of India which means that the States have to primarily drive this mandate within the State, along with Centres support. The Centres support comes in the form of funding, alignment with national standards etc. He said, MSDE have aligned short term trainings with the State Skill Development Missions; and World Bank schemes like SANKALP are also being implemented at the State level. He said, our efforts will cover the last mile very soon.

The officials of the Ministry also stated that they are trying to move away from the supply driven skill development scenario to demand driven one, so that we do not have skilled youth who are unemployed in India.

it was also emphasised that how there has been a five-fold increase in the number of students who are taking up apprenticeship today. This is essentially the result of comprehensive reforms that have been done in the Apprenticeship Act NAPS where the government is incentivising the industry to encourage engaging with apprentices. Till date there have been 5.9 lakh apprentices who have been engaged under NAPS.

Out of all the achievements of Ministry of Skill Development and Entrepreneurship, the key achievements can be notified as:

n++ More than 1.17 crore people trained under MSDE programs

n++ 26.5 lakhs candidates trained under MSDEs flagship scheme Pradhan Mantri Kaushal Vikas Yojana (PMKVY)

n++ More than 4.82 lakh people were brought into the organised sector through the recognition of prior learning program under PMKVY which recognises existing skills and certifies youth (13000 Rubber Tappers, More than 250 Railway Porters and 1500 Employees of Rashtrapati Bhawan)

n++ More than 480 Pradhan MantriKaushalKendras have been announced which would be model centres for skilling and would be in each district of the country for ease of skilling. 162 are already been established.

n++ More than 1381 new ITIs have been opened with more than 5 lakh seats and the entire ecosystem of ITIs have been reinvigorated and reenergised

n++ More than 1 crore people have been trained under NSDCs short term skilling ecosystem since its inception

n++ Pradhan Mantri Yuva Yojana was also launched to promote young entrepreneurs and self sustainability. Target to cover 14.5 lakhs over the next 5 years

n++ To cater to the increasing demand for drivers, MSDE also launched Driver Training institutes across the nation. There is a target to open 50 of them by end of 2017.

n++ Special schemes like Udaan in J&K and others in North East have brought avenues of growth and opportunities to youth in these focused regions

n++ 4 new ATIs have been upgraded into India institute of skills modelled after ITE Singapore

n++ MSDE focuses on bringing heavy quality focus in skills through Adhaar alignment, strengthened monitoring and better curriculum. It is also supported by world bank schemes like strive and sankalp

n++ MSDE has established convergence through common norms, National skills qualification framework and ISO certification of ITIs

n++ Skill India also promotes Inclusion and diversity across all programs specially for disability

n++ India has partnered with 11 countries in the skills agenda promoting global mobility

n++ Skill support all national missions and partners with 18 out of 20 ministries today

n++ MSDE also has support from states on infrastructure and skill education in schools/universities

n++ MSDE has successfully created Industry linkages through apprenticeship, CSR, partnerships in infrastructure and hiring. More than 6 lakh apprentices have been engaged under NAPS

n++ MSDE with MHRD has partnered to create bridge courses For academic equivalence of ITI students

n++ Skill India through its technology applications brings in ease of managing systems in process in India

n++ MSDE has conducted special skill development projects with Armed Forces (Navy, Army, AirForce) , CRPF jawans etc

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GMR Airports wins greenfield Heraklion airport project at Crete Island, Greece
Jun 07,2017

GMR Airports, a subsidiary of GMR Infrastructure announced that it has been selected to Develop, Operate and Manage the New InternationalAirport of Heraklion at Crete in partnership with Greek infrastructure major TERNA S.A. (100% subsidiary of GEK TERNA Group). GMR Airports will be the designated Airport Operator in the consortium for this project.

The scope of the project involves Design, Construction, Financing, Operation, and Maintenance & Exploitation of the New Heraklion Crete International Airport. The concession period for the Greenfield project will be 35 years including Phase 1 Construction of 5 years.

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Karur Vysya Bank revises MCLR, Base Rate and BPLR
Jun 07,2017

Karur Vysya Bank has revised MCLR, Base Rate and BPLR of the Bank with effect from 07 June 2017.

MCLR rates are as below -
Overnight - 8.95%
One month - 8.95%
Three month - 8.95%
Six month - 9.15%
One year - 9.35%

The revised Base Rate is 10.10% and BPLR is 15.10%.

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