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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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Rs.3.5 crore contributed by IIFCL for Cancer Treatment 385 cancer patients benefit
Mar 22,2017

An appeal was made to PSUs to contribute funds under their CSR Scheme towards Health Ministers Cancer Patient Fund-CSR for treatment of poor cancer patients. India Infrastructure Finance Company Limited (IIFCL) has taken lead in the matter and contributed an amount of Rs.7.5 crore in 2015-16. 385 cancer patients have been benefitted from the CSR contribution received from IIFCL during 2016-17.

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Bank of Maharashtra advances on plans to raise equity capital
Mar 22,2017

The announcement was made after market hours yesterday, 21 March 2017.

Meanwhile, the S&P Sensex was down 226.89 points, 0.77% at 29,258.56. The S&P BSE Mid-cap index was down 131.50 points or 0.95% at 13,722.02.

On the BSE, 52,000 shares were traded on the counter so far as against the average daily volumes of 58,287 shares in the past one quarter. The stock had hit a high of Rs 33.80 and a low of Rs 33.30 so far during the day.

The stock had hit a 52-week high of Rs 38.70 on 21 February 2017 and a 52-week low of Rs 25 on 9 November 2016. The stock had underperformed the market over the past one month till 21 March 2017, declining 10.8% compared with the Sensexs 2.52% rise. The scrip had, however, outperformed the market over the past one quarter advancing 13.38% as against the Sensexs 12.36% rise.

The mid-cap bank has equity capital of Rs 1168.33 crore. Face value per share is Rs 10.

Bank of Maharashtra said that a meeting of the board of directors of the bank is scheduled on 24 March 2017, to consider the proposal of raising of equity capital of the bank by way of preferential allotment to Government of India (GOI) subject to necessary approvals/permissions. The bank had received communication from Government of India on 16 March 2017, regarding capital allocation plan of Rs 300 crore to the bank.

Bank of Maharashtra reported net loss of Rs 182.51 crore in Q3 December 2016, as compared with net profit of Rs 89.06 crore in Q3 December 2015. Total income fell 0.1% to Rs 3473.77 crore in Q3 December 2016 over Q3 December 2015.

The Government of India (GoI) held 81.61% stake in Bank of Maharashtra (as per the shareholding pattern as on 31 December 2016).

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Ministry of Power issued more than 38 lakhs Energy Savings Certificates to Industries
Mar 22,2017

Ministry of Power has issued/entitled to purchase Energy Savings Certificates (ESCerts) to Designated Consumers (DCs) of Perform, Achieve and Trade (PAT) Cycle I on 16th February 2017 on verification of their performance with regard to energy savings, based on the recommendations of Bureau of Energy Efficiency (BEE). The first cycle of PAT has been completed in March 2015.

The DCs have contributed to the success of PAT cycle I and this cycle has witnessed an energy saving of 8.67 million tonne of oil equivalent (Mtoe) against the targeted energy saving of 6.886 Mtoe which is about 30% more than the target.This cycle also contributed in emission reduction of 31 million tonnes of CO2 and avoided generation of about 5,635 MW resulting in monetary savings of Rs. 37,685 crore. It has also contributed in investment of Rs. 24,517 crore for energy efficient technologies by DCs under PAT. PAT is a multi-cycle scheme aimed to cover most of the energy intensive sectors of the economy. In this regard currently in the PAT cycle II, 621 DCs from 11 sectors have been included in the scheme.

Bureau of Energy Efficiency (BEE) under Ministry of Power is implementing Perform, Achieve and Trade (PAT) scheme, a component under National Mission for Enhanced Energy Efficiency (NMEEE) in India. PAT is a market based mechanism to enhance cost effectiveness through certification of excess energy savings in energy intensive industries that can be traded. PAT scheme was launched in 2012 with first PAT cycle (2012-15) covering 478 Designated Consumers (DCs) from 8 energy-intensive sectors, namely Aluminium, Cement, Chlor-alkali, Fertilizer, Iron and Steel, Pulp and Paper, Textiles and Thermal power plant which roughly covered 33% of Indias total energy consumption.

Central Electricity Regulatory Commission (CERC) is the Market Regulator and Bureau of Energy Efficiency is Administrator for the trading of ESCerts. POSOCO (Power System Operation Corporation limited) has been appointed as Registry for making DCs as eligible entities for trading of ESCerts and book-keeping of ESCerts. There are two power exchanges i.e. IEX and PXIL where trading of ESCerts shall take place.

CERC has already approved the Procedure for Transaction of Energy Savings Certificates (ESCerts) on 14th Feb 2017. BEE shall soon inform the date of opening of Registration to all DCs along with the fee details, after the same is approved by CERC. Trading/transaction of ESCerts shall be done on continuous basis i.e. every Tuesday on weekly basis. Trading of ESCerts at power exchanges is expected to start from April 2017.

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JBF Industries announces resignation of director
Mar 22,2017

JBF Industries announced the resignation of B. A. Prabhakar, Independent Director of the Company with effect from 21 March 2017.

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Veljan Denison announces resignation of CEO
Mar 22,2017

Veljan Denison announced that Harischandra Prasad has resigned as CEO of the Company with effect from 21 March 2017.

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Delta Corp spurts after broker initiates coverage
Mar 22,2017

Meanwhile, the S&P BSE Sensex was down 218.61 points, or 0.74% to 29,266.84.

On the BSE, 19.42 lakh shares were traded in the counter so far, compared with average daily volumes of 8.29 lakh shares in the past one quarter. The stock had hit a high of Rs 181.30 and a low of Rs 171 so far during the day.

The stock hit a record high of Rs 195.20 on 26 October 2016. The stock hit a 52-week low of Rs 62.30 on 22 March 2016.

The stock had outperformed the market over the past one month till 21 March 2017, rising 31.99% compared with 2.87% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 60.18% as against Sensexs 12.36% rise.

The mid-cap company has equity capital of Rs 23.16 crore. Face value per share is Re 1.

The brokerage reportedly cites the approval of a casino in Daman as a key upside trigger and sees gaming capacity to double.

Meanwhile, the companys board will meet later today, 22 March 2017, to consider raising funds by issue of equity shares and / or such other securities, as may be permitted, by way of a public or private offering, including a qualified institutions placement or any combination thereof.

Delta Corps consolidated net profit rose 37.2% to Rs 10.06 crore on 4.5% increase in net sales to Rs 103.57 crore in Q3 December 2016 over Q3 December 2012.

Delta Corp holds three offshore gaming licences in Goa and has an integrated casino resort in Daman. The company also has three luxury hotel properties in Goa n++ Deltin Suites, Deltin Palms and Villa Marina by Deltin.

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Outcome of board meeting of Hester Biosciences
Mar 22,2017

Hester Biosciences announced that the Board of Directors at its meeting held on 22 March 2017 have decided the following -

To make investment in the Partnership Firm namely, Texas Laboratories, Mehsana, Gujarat.

To accept the buy-back offer of its Associate Company i.e. Leruarua Vetcare (Proprietary), Botswana.

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Rupa recovers on bargain hunting
Mar 22,2017

Meanwhile, the S&P BSE Sensex was down 213.80 points or 0.73% at 29,271.65. The BSE Small-cap index was down 65.10 points or 0.46% at 13,962.83.

On the BSE, 98,000 shares were traded on the counter so far as against the average daily volumes of 63,875 shares in the past one quarter. The stock had hit a high of Rs 304.90 and a low of Rs 281 so far during the day.

The stock had hit a 52-week high of Rs 351.90 on 17 March 2017 and a 52-week low of Rs 244 on 10 January 2017. The stock had outperformed the market over the past one month till 21 March 2017, advancing 5.18% compared with the Sensexs 2.52% rise. The scrip had also outperformed the market over the past one quarter, gaining 13.27% as against the Sensexs 12.36% rise.

The small-cap company has equity capital of Rs 7.95 crore. Face value per share is Rs 1.

Shares of Rupa & Company had declined 16.9% in the preceding two trading sessions to settle at Rs 283.05 yesterday, 21 March 2017, from its close of Rs 340.55 on 17 March 2017.

Rupa & Company had last week announced that Oban Fashions, one of the companys subsidiaries, concluded a deal with the US-based Fruit of the Loom Inc, a unit of Warren Buffets Berkshire Hathaway Co., to manufacture and sell products in India under the US companys brands. Fruit of the Loom sells a wide range of underwear and casual wear in the US and Europe.

Rupa & Companys net profit rose 20.7% to Rs 17 crore on 7.5% decline in net sales to Rs 208.57 crore in Q3 December 2016 over Q3 December 2015.

Rupa & Company is a leading undergarments manufacturer and a leading hosiery and knitwear company in India.

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Private organisations & corporates should develop fund to support persons with disabilities: Ramdas Athawale
Mar 22,2017

While the government is doing its bit to empower the persons with disabilities under the Accessible India Campaign, the private sector should also develop a fund to help such people gain sustainable employment or become entrepreneurs, Union Minister of State for Social Justice and Empowerment, Mr Ramdas Athawale said at an ASSOCHAM event.

n++Though private enterprises and the industry undertake different initiatives as part of corporate social responsibility, they should also work towards helping persons with disabilities and develop a special fund for their skill development,n++ said Mr Athawale.

He also said that it is the responsibility of both the government and the corporate sector to work in tandem to help and support people with disabilities by providing them vocational training to become self sufficient as they too are a part of the society.

He also said that reservation in vacancies in government jobs which had been enhanced from three per cent to four per cent in The Rights of Persons with Disabilities Bill - 2016, should be implemented in every sector.

n++My Ministry is trying to ensure that all departments have four per cent disabled workers and they should also be imparted skill training to help them start their own business,n++ said Mr Athawale.

The study stressed upon the need for development of affordable, effective and readily available information, communication technologies (ICTs) and assistive technologies in order to further empower the specially-abled people for creating an inclusive and power society.

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Fiberweb (India) jumps on plan to export products to Wal-Mart
Mar 22,2017

The announcement was made during trading hours today, 22 March 2017.

Meanwhile, the S&P BSE Sensex was down 242.07 points, or 0.82% to 29,243.38.

On the BSE, 82,000 shares were traded in the counter so far, compared with average daily volumes of 75,050 shares in the past one quarter. The stock had hit a high of Rs 308 and a low of Rs 275 so far during the day. The stock hit a record high of Rs 332.40 on 1 March 2017. The stock hit a 52-week low of Rs 25.25 on 6 May 2016.

The stock had outperformed the market over the past one month till 21 March 2017, rising 8.11% compared with 2.87% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 80.87% as against Sensexs 12.36% rise.

The small-cap company has equity capital of Rs 12.60 crore. Face value per share is Rs 10

Fiberweb (India) announced that it has planned increase in sale of converted products which have much better margins than normal products. Earlier in October 2016, the companys customers from USA had visited the firms production facilities at Daman and they were satisfied with the international standard of production facility, stringent quality control parameters and machineries as well as ambience. They confirmed the companys facilities are as per approved FDA Standard.

Fiberweb (India) said it is supplying some products to the US-based company which supplied to Lowes Company for Wal-Mart Departmental Stores in USA. Wal-Mart is renowned biggest retail chain in the world. With a view to give larger order and make Fiberweb (India) accredited supplier, Lowes had send special auditors for surprise audit of Fiberweb (India). The auditors were very pleased on all the major points of audit and have given favorable report. They have advised Fiberweb (India) to also ensure that security contractor and other supplier to the company must be insisted to follow international standard and follow all government rules.

All the above facts have now opened a floodgate of orders for converted products to the prestigious customer like Wal-Mart. Fiberweb (India) said it will have sufficient orders once it expands its capacity as planned.

Net profit of Fiberweb (India) rose 4.39% to Rs 4.04 crore on 63.58% rise in net sales to Rs 26.50 crore in Q3 December 2016 over Q3 December 2015.

Fiberweb (India) makes and exports garbage bags and carrier bags. The company has also established its flagship unit for spun bond nonwoven fabrics, being the first of its kind in India.

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Sandesh fixes record date for interim dividend
Mar 22,2017

Sandesh has fixed 27 March 2017 as the Record Date for the purpose of Payment of Interim Dividend, if declared.

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L&T Finance Holdings announces resignation of director
Mar 22,2017

L&T Finance Holdings announced that Kamakshi Rao, Independent Director of the Company, has tendered her resignation effective from 21 March 2017, to devote time to other commitments.

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Precious metals rise
Mar 22,2017

Bullion prices ended higher at Comex on Tuesday, 21 March 2017. Gold prices settled Tuesday at their highest level in nearly three weeks, with gains fueled by a drop in the U.S. dollar as traders eyed the presidential race in France and the U.K. prepared its exit from the European Union.

April gold rose $12.50, or 1%, to settle at $1,246.50 an ounce, with prices up a fourth straight session to settle at the highest level since March 1.

May silver added 0.8%, at $17.583 an ounce

The ICE U.S. Dollar Index which measures the greenbacks strength against a basket of six currencies, dropped 0.7% after touching its lowest levels since late January. Weakness in the greenback has helped to provide support for dollar-denominated commodity prices. The dollar was particularly weak versus the euro which rallied in the wake of Frances televised first presidential debate. The greenback was also sharply lower against the British pound as Britain was set to notify the European Union on March 29 that it will start the process of exiting itself from the bloc.

Tuesdays lone economic report was fourth quarter Current Account Balance. The current account deficit for the four quarter totaled $112.4 billion while the Briefing.com consensus expected the deficit to hit $128.2 billion. The third quarter deficit was revised to $116.0 billion from $113.0 billion.

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Dredging Corporation drops on profit booking
Mar 22,2017

Meanwhile, the S&P BSE Sensex was down 229.53 points or 0.78% at 29,255.92. The BSE Small-Cap index was down 82.25 points or 0.61% at 13,942.68.

On the BSE, 21,000 shares were traded on the counter so far as against the average daily volumes of 70,911 shares in the past one quarter. The stock had hit a high of Rs 695.65 and a low of Rs 681.55 so far during the day.

The stock had hit a 52-week high of Rs 716 on 17 March 2017 and a 52-week low of Rs 330 on 21 March 2016. The stock had outperformed the market over the past one month till 21 March 2017, advancing 50.17% compared with the Sensexs 2.52% rise. The scrip had also outperformed the market over the past one quarter, gaining 80.78% as against the Sensexs 12.36% rise.

The small-cap company has equity capital of Rs 28 crore. Face value per share is Rs 10.

Shares of Dredging Corporation of India had rallied 46.09% in the preceding six trading sessions to settle at Rs 693.20, from its close of Rs 474.50 on 10 March 2017. The rally in the stock was triggered by stake-sale buzz.

On 6 March 2017, some media reports suggested that the government was looking to sell a 51% stake in state-run company. The strategic stake sale could materialise by middle of the next fiscal year starting April 2017, the reports added.

The company, however, clarified during trading hours on 6 March 2017, that it has not received any specific official communication from the government regarding stake sale. Hence, the company had no comments to offer on the same. The company added that it will inform the stock exchange as and when any official information is received from the government in this regard.

The government holds 73.47% stake in Dredging Corporation of India (as on 31 December 2016).

Dredging Corporation of India reported net profit of Rs 14.04 crore in Q3 December 2016, compared with net loss of Rs 19.62 crore in Q3 December 2015. Net sales fell 13.7% to Rs 139.39 crore in Q3 December 2016 over Q3 December 2015.

State-run Dredging Corporation of India provides dredging services to the major ports of the country.

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Subex surges as board to consider raising of funds
Mar 22,2017

The announcement was made after market hours yesterday, 21 March 2017.

Meanwhile, the S&P Sensex was down 231.77 points, 0.79% at 29,253.68. The S&P BSE Small-cap index was down 80.16 points or 0.57% at 13,947.77.

High volumes were witnessed on the counter. On the BSE, 15.98 lakh shares were traded on the counter so far as against the average daily volumes of 8.66 lakh shares in the past one quarter. The stock had hit a high of Rs 11.78 and a low of Rs 11.20 so far during the day.

The stock had hit a 52-week high of Rs 14.24 on 11 July 2016 and a 52-week low of Rs 8.25 on 21 November 2016. The stock had underperformed the market over the past one month till 21 March 2017, declining 1.97% compared with the Sensexs 2.52% rise. The scrip had, however, outperformed the market over the past one quarter advancing 14.69% as against the Sensexs 12.36% rise.

The small-cap company has equity capital of Rs 506.91 crore. Face value per share is Rs 10.

Subex said that a meeting of the board of directors of the company is scheduled on 24 March 2017, to consider and approve the raising of funds by way of issue of equity shares on preferential basis.

Subexs consolidated net profit spurted 131.52% to Rs 22.55 crore on 14.9% increase in net sales to Rs 95.78 crore in Q3 December 2016 over Q2 September 2016.

Subex is a leading global provider of business and operations support systems (B/OSS) that empowers communications service providers (CSPs) to achieve competitive advantage through business and capex optimisation - thereby enabling them to improve their operational efficiency to deliver enhanced service experiences to subscribers.

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