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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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Shriram City Union Finance biggest loser on BSEs A group
Jul 07,2017

Shriram City Union Finance slipped 4.37% at Rs 2,409.95. The stock topped the losers in A group. On the BSE, 3,276 shares were traded on the counter so far as against the average daily volumes of 419 shares in the past two weeks.

Intellect Design Arena declined 4.87% at Rs 122. The stock was the second biggest loser in A group. On the BSE, 1.13 lakh shares were traded on the counter so far as against the average daily volumes of 86,000 shares in the past two weeks.

Edelweiss Financial Services fell 2.74% at Rs 193.45. The stock was the third biggest loser in A group. On the BSE, 10.34 lakh shares were traded on the counter so far as against the average daily volumes of 2.48 lakh shares in the past two weeks.

Bharti Infratel skid 2.43% at Rs 404.90. The stock was the fourth biggest loser in A group. On the BSE, 23,000 shares were traded on the counter so far as against the average daily volumes of 91,000 shares in the past two weeks.

Page Industries tumbled 1.83% at Rs 17,070. The stock was the fifth biggest loser in A group. On the BSE, 181 shares were traded on the counter so far as against the average daily volumes of 1,183 shares in the past two weeks.

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Tea stocks sizzle on hopes of firm prices
Jul 07,2017

Assam Company (India) (up 7.54%), Jay Shree Tea & Industries (up 4.74%), Warren Tea (up 2.41%), McLeod Russel India (up 4.23%), Goodricke Group (up 3.24%), Diana Tea (up 0.67%), James Warren Tea (up 2.05%), Rossel India (up 2.76%), Dhunseri Tea & Industries (up 0.8%), Andrew Yule & Company (up 3.59%) and Tata Global Beverages (up 2.02%) edged higher.

Meanwhile, the S&P BSE Sensex was down 39.19 points, or 0.12% to 31,330.15

As per reports, initial indicators showed that average auction prices for Darjeeling tea in the first week of June rose to Rs 360.66/kg in 2017 from Rs 346.6/kg in 2016. Leaf plucking and processing activities have been suspended since the second week of June, following the political strife in the region.

A research report indicated that the current political unrest in Darjeeling is likely to impact the production and exports of the premium tea.

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The Central Governments decision on recommendations of the 7th Central Pay Commission (CPC) on Allowances are given effect from 01 July 2017
Jul 07,2017

Resolution conveying the Central Governments decision on recommendations of the 7th Central Pay Commission (CPC) on Allowances has been published in Gazette of India yesterday i.e.6th July, 2017.

Based on the Report of Committee on Allowances (CoA) and the recommendation of E-CoS, the Cabinet had earlier approved the modifications in 34 Allowances in its Meeting held on 28th June 2017.

All allowances are given effect from 1st July 2017.

Concerned Ministries have now been advised to issue their Orders on Allowances governed by them immediately so that the revised rates of allowances get reflected in the current months Salary Bills of the Government employees.

Major Highlights of the Allowances approved by the Union Cabinet are as follows:

n++Cabinet approved recommendations of 7th CPC on allowances with 34 modifications - revised rates effective from 01.07.2017

n++It will benefit 34 lakh Civilian employees and 14 lakh Defence Forces personnel

n++7th CPC examined 197 allowances, recommending abolition of 53 allowances and subsuming 37 in others.

n++7th CPC recommended revised rates commensurate with Dearness Allowance

n++Fully DA-indexed allowances - no raise, not DA indexed raised by 2.25, partially indexed raised by 1.5, % based rationalised by 0.8

n++Risk & Hardship Matrix evolved for allowances linked to risk and hardship

n++7th CPC projected additional financial implication at Rs.29,300 cr per annum, modifications to have additional implication of Rs.1448.23 cr

n++Combined additional financial implication estimated at Rs.30748.23 crore per annum.

1. Number of allowances recommended to be abolished and subsumed:

n++ Government decided not to abolish 12 allowances in view of specific functional requirements

n++ 3 of 37 subsumed allowances will continue as separate identities due to unique nature of these allowances.

2. House Rent Allowance (HRA)

n++ HRA will be paid @24%, 16% & 8% for X, Y & Z cities respectively

n++ HRA not to be less than Rs.5400, 3600 & 1800 for X,Y&Z cities, calculated @30,20,&10% of min pay of Rs.18000 - to benefit >7.5 lakh employee

n++ 7th CPC recommended revision of HRA when DA reaches 50% & 100%, Govt decided to revise rates when DA crosses 25% and 50% respectively.

3. Siachen Allowance:

n++Rates of Siachen Allowance increased from Rs.14000 pm (Soldiers) to Rs.30000 & Rs.21000 pm (Officers) to Rs.42500 for extreme risk & hardship.

4. Dress Allowance:

n++ Government decided to pay Dress Allowance to Nurses on monthly basis due to high maintenance and hygiene requirements.

n++ Higher rate of Dress Allowance for Special Protection Group accepted by Govt.

5. Tough Location Allowance:

n++ 7th CPC recommended-TLA not to be granted with SDA-Govt decided to give option of SCLRA at pre-revised rates with SDA at revised rates

6. Recommendations in respect of some important allowances paid to all categories:

n++ Children Education Allowance increased from Rs.1500 pm/child (max.2) to Rs.2250/child and Hostel Subsidy increased from Rs.4500 pm to Rs.6750 pm.

n++ Special Allowance for Child Care for Women with Disabilities doubled from Rs.1500 pm to Rs.3000 pm

n++ Higher Qualification Incentive for Civilians increased from Rs.2000 - Rs.10000 (Grant) to Rs.10000 - Rs.30000 (Grant)

7. Recommendations in respect of some important allowances paid to Uniformed Services: Defence, CAPFs, Police, Indian Coast Guard and Security Agencies

n++ Abolition of Ration Money Allowance and free ration to Defence officers in peace areas not accepted, RMA to be credited in bank account

n++ Technical Allowance (Tier-II) not to be merged, Govt. decided to continue Technical Allowance (Tier-II) @Rs.4500 pm-courses to be reviewed

n++ Aeronautical Allowance increased Rs.300 pm to Rs.450 pm and extended to Indian Coast Guard also

n++ Counter Insurgency Ops (CI Ops) Allowance for counter - insurgency ops increased from Rs.3000 - Rs.11700 pm to Rs.6000 - Rs.16900 pm

n++ MARCOS and Chariot Allowance paid to marine commandos increased from Rs.10500 - Rs.15750 pm to Rs.17300 - Rs.25000 pm

n++ Conditionality of 12 hrs reduced to 4 hrs for Sea Going Allowance and rates increased from Rs.3000 - Rs.7800 pm to Rs.6000 - Rs.10500 pm

n++ COBRA Allowance granted to CRPF personnel in Naxal hit areas increased from Rs.8400 - Rs.16800 pm to Rs.17300 - Rs.25000 pm

n++ Modified Field, Field & Highly Active Field Area Allowances increased from Rs.1200 - Rs.12600 pm to Rs.6000 - Rs.16900 pm.

n++ Flying Allowance increased from Rs.10500 - Rs.15750 pm to Rs.17300 - Rs.25000 pm and extended to BSF Air Wing also

n++ High Altitude Allowance increased from Rs.810 - Rs.16800 pm to Rs.2700 - Rs.25000 pm

n++ Higher Qualification Incentive for Defence Personnel increased from Rs.9000 - Rs.30000 (Grant) to Rs.10000 - Rs.30000 (Grant).

n++ Test Pilot and Flight Test Engineer Allowance increased from Rs.1500 / 3000 pm to Rs.4100 / 5300 pm

n++ Additional Free Railway Warrant (Leave Travel Concession) extended to CAPFs.

n++ Territorial Army Allowance increased from Rs.175 - Rs.450 pm to Rs.1000 -Rs. 2000 pm

n++ Ceilings of Deputation (Duty) Allowance for Defence Personnel increased from Rs.2000 - Rs.4500 pm to Rs.4500 - Rs.9000 pm

n++ Detachment Allowance increased Rs.165 - Rs.780 per day to Rs.405 - Rs.1170 per day

n++ Para Jump Instructor Allowance increased from Rs.2700/3600 pm to Rs.6000/10500 pm

n++ Govt. increased Special Security Allowance for Special Protection Group to 55% and 27.5% of BP for ops and non - ops duties

n++ Housing provisions for PBORs and their families residing at other stations significantly improved and linked to HRA, process simplified

8. Allowances paid to Indian Railways

n++ Additional Allowance increased from Rs.500 / 1000 pm to Rs.1125 / 2250 pm and extended to Loco Pilot Goods and Senior Passenger Guards @Rs.750 pm

n++ Special Train Controllers Allowance @5000 pm introduced for Train Controllers of Railways

9. Allowances paid to Nurses & Ministerial Staffs of Hospital

n++ Government increased rate of Nursing Allowance from Rs.4800 pm to Rs.7200 pm

n++ Operation Theatre Allowance not abolished and rates increased from Rs.360 pm to Rs.540 pm

n++ Hospital Patient Care Allowance/Patient Care Allowance increased from Rs.2070 - Rs.2100 pm to Rs.4100 - Rs.5300 pm

n++ 7th CPC recommendations modified and HPCA / PCA to continue for Ministerial staff

10. Allowances to Pensioners

n++ Fixed Medical Allowance for Pensioners increased from Rs.500 pm to Rs.1000 pm

n++ Constant Attendance Allowance on 100% disablement increased from Rs.4500 pm to Rs.6750 pm

11. Allowances to Scientific Departments

n++ 7th CPC recommendations to abolish Launch Campaign Allowance and Space Technology Allowance not accepted - rates revised from Rs.7500 pa to Rs.11250 pa

n++ Professional Update Allowance for non-gazetted staff of DAE will continue at enhanced rate of Rs.11250 pa

n++ Antarctica Allowance - Summer rates revised from Rs.1125 per day to Rs.1500 per day, Winter rates from Rs.1688 per day to Rs.2000 per day

12. Allowance paid to D/o Posts & Railways

n++ Cycle Allowance not abolished - rates doubled from Rs.90 to Rs.180 pm for functional requirements of Postmen in Posts and Trackmen in Railways.

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NIIT Technologies to hold board meeting
Jul 07,2017

NIIT Technologies will hold a meeting of the Board of Directors of the Company on 20 July 2017 Quarterly Results

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Confidence Petroleum corrects on profit booking
Jul 07,2017

Meanwhile, the S&P BSE Sensex was down 51.26 points, or 0.16% to 31,318.08.

On the BSE, 2.72 lakh shares were traded in the counter so far, compared with average daily volumes of 6.52 lakh shares in the past one quarter. The stock had hit a high of Rs 17.64 and a low of Rs 16.77 so far during the day. The stock hit a 52-week high of Rs 17.97 on 6 July 2017. The stock hit a 52-week low of Rs 4.87 on 7 July 2016.

The stock had outperformed the market over the past one month till 6 July 2017, rising 35.77% compared with 0.31% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 123.14% as against Sensexs 5.60% rise. The scrip had also outperformed the market in past one year, rising 260.20% as against Sensexs 15.32% rise.

The small-cap company has equity capital of Rs 25.88 crore. Face value per share is Re 1.

Shares of Confidence Petroleum India rose 26.89% in nine trading sessions to settle at Rs 17.65 yesterday, 6 July 2017, from its close of Rs 13.91 on 22 June 2017.

Recent rise in the stock was triggered by the company winning orders worth Rs 361.96 crore for supplying LPG cylinders. The announcement was made during trading hours on Wednesday, 5 July 2017. Shares of Confidence Petroleum India hit an upper circuit limit of 5% to settle at Rs 17.27 on 5 July 2017.

Confidence Petroleum India will supply 30,16,352 LPG cylinders. The orders have been awarded by the BPCL, HPCL and Indian Oil Corporation, with an option of order for equivalent quantity next year, the company said in a statement.

On a consolidated basis, Confidence Petroleum India reported net loss of Rs 0.10 crore in Q4 March 2017 as against net profit of Rs 0.01 crore in Q4 March 2016. Net sales rose 69.74% to Rs 157.55 crore in Q4 March 2017 over Q4 March 2016.

Confidence Petroleum India is manufacturer of liquefied petroleum gas (LPG) cylinders for domestic, as well as commercial use.

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Export of Oilmeals Up by 64% in April - June 2017
Jul 07,2017

The Solvent Extractors Association of India has compiled the export data for export of oilmeals for the month of June 2017. The export during June 2017 is reported at 150,918 tons compared to 132,771 tons in June 2016 i.e. up by 14%. The overall export of oilmeals during April - June 2017 provisionally reported at 499,140 tons compared to 304,703 tons during the same period of last year i.e. Up by 64%.

In last three months the export of oilmeals improved compared to the previous year, thanks to good monsoon, better oilseeds production and price parity. In percentage terms export showing improvement, but still it is lower compared to earlier years, which can be seen from the below table. It may be also noted that India faced drought years during 2014-15 and 2015-16, which lead to lower production of oilseeds which affected export of oilmeals to a lowest level.

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Maruti Suzuki India gets NCLT approval for scheme of amalgamation
Jul 07,2017

Maruti Suzuki India announced that the National Company Law Tribunal vide its order dated 27 June 2017 has approved the scheme of amalgamation of Maruti Suzuki India (Amalgamated Company) and seven of its wholly owned subsidiary companies, i.e.,(i) Maruti Insurance Business Agency; (ii) Maruti Insurance Distribution Services ; (iii) Maruti Insurance Agency Network ; (iv) Maruti Insurance Agency Solutions ; (v) Maruti Insurance Agency Services ; (vi) Maruti Insurance Agency Logistics and (vii) Maruti Insurance Broker (Amalgamating Companies).

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Glenmark Pharma gains after getting USFDA nod for generic drug
Jul 07,2017

The announcement was made before market hours today, 7 July 2017.

Meanwhile, the BSE Sensex was down 49.21 points, or 0.16%, to 31,320.13

On the BSE, 42,000 shares were traded in the counter so far, compared with average daily volumes of 1.45 lakh shares in the past one quarter. The stock had hit a high of Rs 667.65 and a low of Rs 656.55 so far during the day. The stock had hit a 52-week high of Rs 993 on 1 November 2016. The stock had hit a 52-week low of Rs 600 on 29 May 2017.

The stock had outperformed the market over the past one month till 6 July 2017, rising 1.07% compared with 0.31% rise in the Sensex. The scrip, however, underperformed the market in past one quarter, sliding 24.06% as against Sensexs 5.60% rise. The scrip had also underperformed the market in past one year, sliding 20.09% as against Sensexs 15.32% rise.

The large-cap company has equity capital of Rs 28.22 crore. Face value per share is Re 1.

Glenmark Pharmaceuticals said that Glenmark Pharmaceuticals Inc., USA was granted final approval by the United States Food & Drug Administration (USFDA) for Amlodipine and Olmesartan Medoxomil Tablets, 5 mg/20 mg, 5 mg/40 mg, 10 mg/20 mg, and 10 mg/40 mg, the generic version of Azor Tablets, 5 mg/20 mg, 5 mg/40 mg, 10 mg/20 mg, and 10 mg/40 mg, of Daiichi Sankyo, Inc.

According to IMS Health sales data for the 12 month period ended May 2017, the Azor Tablets, 5 mg/20 mg, 5 mg/40 mg, 10 mg/20 mg, and 10 mg/40 mg market achieved annual sales of approximately $211.6 million.

The companys current portfolio consists of 119 products authorized for distribution in the US marketplace and 66 ANDAs pending approval with the USFDA. In addition to these internal filings, Glenmark continues to identify and explore external development partnerships to supplement and accelerate the growth of its existing pipeline and portfolio, the company said.

On a consolidated basis, Glenmark Pharmaceuticals net profit rose 23.5% to Rs 183.76 crore on 10.2% rise in net sales to Rs 2424.41 crore in Q4 March 2017 over Q4 March 2016.

Glenmark Pharmaceuticals is a research-driven, global, integrated pharmaceutical organization headquartered at Mumbai, India. The company is a leading player in the discovery of new molecules both NCEs (new chemical entity) and NBEs (new biological entity). It has several molecules in various stages of clinical development and is primarily focused in the areas of oncology, dermatology and respiratory.

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NBCC (India) intimates of land purchase from Air India
Jul 07,2017

NBCC (India) announced that Air India has agreed to sell its assets measuring one acre land (estimated) in the State of Mauritius to NBCC (India) and the transaction valuing Rs 3.10 crore will take place within a few days.

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Balaji Amines gains on receiving approval for expansion
Jul 07,2017

The announcement was made after market hours yesterday, 6 July 2017.

Meanwhile, the S&P BSE Sensex was down 55.63 points, or 0.18% to 31,313.71.

On the BSE, 32,000 shares were traded in the counter so far, compared with average daily volumes of 5,249 shares in the past one quarter. The stock had hit a high of Rs 382 and a low of Rs 355.60 so far during the day. The stock hit a record high of Rs 401.10 on 24 April 2017. The stock hit a 52-week low of Rs 249.20 on 14 July 2016.

The stock had outperformed the market over the past one month till 6 July 2017, rising 0.46% compared with 0.31% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 8.47% as against Sensexs 5.60% rise. The scrip had outperformed the market in past one year, rising 29.68% as against Sensexs 15.32% rise.

The small-cap company has equity capital of Rs 6.48 crore. Face value per share is Rs 2.

Balaji Amines said it received approval from Ministry of Environment, Forest and Climate Change, Government of India (GoI) for expansion project, which includes Acetonitrile (ACN), Morpholine (MOR) & Di Methyl Amine Hydrochloride (DMAHCL) products. The project is situated at Solapur in Maharashtra. The approval was granted with a condition of acquiring no-objection certificate (NOC) from National Board for Wild Life for which the company has already applied to the GoI.

Balaji Amines net profit fell 23.4% to Rs 17.87 crore on 7.3% increase in net sales to Rs 193.14 crore in Q4 March 2017 over Q4 March 2016.

Balaji Amines makes methylamines, ethylamines, derivatives of specialty chemicals and natural products.

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Government of India in consultation with RBI decides to issue Sovereign Gold Bond Scheme 2017-18Gô Series II
Jul 07,2017

Government of India, in consultation with the Reserve Bank of India, has decided to issue Sovereign Gold Bonds 2017-18 G Series II. Applications for the bond will be accepted from July 10, 2017 to July 14, 2017. The Bonds will be issued on July 28, 2017. The Bonds will be sold through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange. The features of the Bond are given below:

Sl. No.ItemDetails1

Product name

Sovereign Gold Bond 2017-18 G Series II

2

Issuance

To be issued by Reserve Bank India on behalf of the Government of India.

3

Eligibility

The Bonds will be restricted for sale to resident Indian entities including individuals, HUFs, Trusts, Universities and Charitable Institutions.

4

Denomination

The Bonds will be denominated in multiples of gram(s) of gold with a basic unit of 1 gram.

5

Tenor

The tenor of the Bond will be for a period of 8 years with exit option from 5th year to be exercised on the interest payment dates.

6

Minimum size

Minimum permissible investment will be 1 gram of gold.

7

Maximum limit

The maximum amount subscribed by an entity will not be more than 500 grams per person per fiscal year (April-March). A self-declaration to this effect will be obtained.

8

Joint holder

In case of joint holding, the investment limit of 500 grams will be applied to the first applicant only.

9

Issue price

Price of Bond will be fixed in Indian Rupees on the basis of simple average of closing price of gold of 999 purity published by the India Bullion and Jewellers Association Limited for the week (Monday to Friday) preceding the subscription period.The issue price of the Gold Bonds will be ` 50 per gram less than the nominal value.

10

Payment option

Payment for the Bonds will be through cash payment (upto a maximum of Rs. 20,000) or demand draft or cheque or electronic banking.

11

Issuance form

The Gold Bonds will be issued as Government of India Stocks under GS Act, 2006. The investors will be issued a Holding Certificate for the same. The Bonds are eligible for conversion into demat form.

12

Redemption price

The redemption price will be in Indian Rupees based on previous weeks (Monday-Friday) simple average of closing price of gold of 999 purity published by IBJA.

13

Sales channel

Bonds will be sold through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices as may be notified and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange, either directly or through agents.

14

Interest rate

The investors will be compensated at a fixed rate of 2.50 per cent per annum payable semi-annually on the nominal value.

15

Collateral

Bonds can be used as collateral for loans. The loan-to-value (LTV) ratio is to be set equal to ordinary gold loan mandated by the Reserve Bank from time to time.

16

KYC Documentation

Know-your-customer (KYC) norms will be the same as that for purchase of physical gold. KYC documents such as Voter ID, Aadhaar card/PAN or TAN /Passport will be required.

17

Tax treatment

The interest on Gold Bonds shall be taxable as per the provision of Income Tax Act, 1961 (43 of 1961). The capital gains tax arising on redemption of SGB to an individual has been exempted. The indexation benefits will be provided to long term capital gains arising to any person on transfer of bond

18

Tradability

Bonds will be tradable on stock exchanges within a fortnight of the issuance on a date as notified by the RBI.

19

SLR eligibility

The Bonds will be eligible for Statutory Liquidity Ratio purposes.

20

Commission

Commission for distribution of the bond shall be paid at the rate of 1% of the total subscription received  by  the  receiving offices and receiving offices shall share at least 50% of the commission so received with the agents or sub agents for the business procured through them.

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Government of India in consultation with RBI decides to issue Sovereign Gold Bond Scheme 2017-18 Series II
Jul 07,2017

Government of India, in consultation with the Reserve Bank of India, has decided to issue Sovereign Gold Bonds 2017-18 Series II. Applications for the bond will be accepted from July 10, 2017 to July 14, 2017. The Bonds will be issued on 28 July 2017. The Bonds will be sold through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange. The features of the Bond are given below:

Sl. No.ItemDetails1

Product name

Sovereign Gold Bond 2017-18 Gô Series II

2

Issuance

To be issued by Reserve Bank India on behalf of the Government of India.

3

Eligibility

The Bonds will be restricted for sale to resident Indian entities including individuals, HUFs, Trusts, Universities and Charitable Institutions.

4

Denomination

The Bonds will ben++denominated in multiples of gram(s) of gold with a basic unit of 1 gram.

5

Tenor

The tenor of the Bond will be for a period of 8 years with exit option from 5th year to be exercised on the interest payment dates.

6

Minimum size

Minimum permissible investment will be 1 gram of gold.

7

Maximum limit

The maximum amount subscribed by an entity will not be more than 500 grams per person per fiscal year (April-March). A self-declaration to this effect will be obtained.

8

Joint holder

In case of joint holding, the investment limit of 500 grams will be applied to the first applicant only.

9

Issue price

Price of Bond will be fixed in Indian Rupees on the basis of simple average of closing price of gold of 999 purity published by the India Bullion and Jewellers Association Limited for the week (Monday to Friday) preceding the subscription period.The issue price of the Gold Bonds will be ` 50 per gram less than the nominal value.

10

Payment option

Payment for the Bonds will be through cash payment (upto a maximum of Rs. 20,000) or demand draft or cheque or electronic banking.

11

Issuance form

The Gold Bonds will be issued as Government of India Stocks under GS Act, 2006. The investors will be issued a Holding Certificate for the same. The Bonds are eligible for conversion into demat form.

12

Redemption price

The redemption price will be in Indian Rupees based on previous weeks (Monday-Friday) simple average of closing price of gold of 999 purity published by IBJA.

13

Sales channel

Bonds will be sold through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices as may be notified and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange, either directly or through agents.

14

Interest rate

The investors will be compensated at a fixed rate of 2.50 per cent per annum payable semi-annually on the nominal value.

15

Collateral

Bonds can be used as collateral for loans. The loan-to-value (LTV) ratio is to be set equal to ordinary gold loan mandated by the Reserve Bank from time to time.

16

KYC Documentation

Know-your-customer (KYC) norms will be the same as that for purchase of physical gold. KYC documents such asn++Voter ID, Aadhaar card/PAN or TAN /Passport will be required.

17

Tax treatment

The interest on Gold Bonds shall be taxable as per the provision of Income Tax Act, 1961 (43 of 1961). The capital gains tax arising on redemption of SGB to an individual has been exempted. The indexation benefits will be provided to long term capital gains arising to any person on transfer of bond

18

Tradability

Bonds will be tradable on stock exchanges within a fortnight of the issuance on a date as notified by the RBI.

19

SLR eligibility

The Bonds will be eligible for Statutory Liquidity Ratio purposes.

20

Commission

Commission for distribution of the bond shall be paid at the rate of 1% of the total subscription receivedn++ byn++ then++ receiving offices and receiving offices shall share at least 50% of the commission so received with the agents or sub agents for the business procured through them.

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Infosys partners with Udacity for second consecutive year
Jul 07,2017

Infosys announced that it has fortified its partnership with Udacity, a global online education company, for the second consecutive year. The joint endeavor, aimed at accelerating the pace of skill adoption in new technologies and industry skills in the new batch of trainees of Infosys, offers a Nanodegree program online in an innovative curriculum. It also enables the learner to develop unique, in-demand skills through project-based and real-world scenarios.

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Titan Company to hold board meeting
Jul 07,2017

Titan Company will hold a meeting of the Board of Directors of the Company on 3 August 2017 Quarterly Results

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G M Breweries drops after poor Q1 outcome
Jul 07,2017

The result was announced after market hours yesterday, 6 July 2017.

Meanwhile, the S&P BSE Sensex was down 51.51 points or 0.16% at 31,317.83. The S&P BSE Small-Cap index was up 33.67 points or 0.21% at 15,823.34.

On BSE, so far 8,267 shares were traded in the counter as against average daily volume of 6,719 shares in the past one quarter. The stock hit a high of Rs 471.40 and a low of Rs 448.25 so far during the day. The stock had hit a 52-week high of Rs 682.55 on 5 October 2016. The stock had hit a 52-week low of Rs 394 on 30 May 2017.

The stock had outperformed the market over the past one month till 6 July 2017, rising 11.86% compared with 0.31% rise in the Sensex. The scrip, however, underperformed the market in past one quarter, rising 4.04% as against Sensexs 5.60% rise. The scrip had also underperformed the market in past one year, sliding 21.29% as against Sensexs 15.32% rise.

The small-cap company has equity capital of Rs 14.62 crore. Face value per share is Rs 10.

G M Breweries is engaged in manufacturing and marketing of country liquor.

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