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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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Government and World Bank Sign New Agreement for Better Water Planning and Management Across India
Apr 25,2017

The Government of India and the World Bank signed the US$ 175 million loan agreement for the National Hydrology Project. The project will strengthen the capacity of institutions to assess the water situation in their regions and reduce their vulnerability to recurring flood and droughts, saving hundreds of lives and livelihoods.

With rainfall in India being highly seasonal and 50 percent of precipitation falling in just 15 days and over 90 percent of river flows in just four months, the country continues to be water-stressed and is faced with the challenge of managing its water needs amidst recurring floods and drought.

The project is expected to help forge an integrated approach to developing, managing, and regulating both surface and groundwater resources jointly at the basin and aquifer scale. It would also strengthen the institutional capacity for integrated water resources management at the center and in the states,n++ said Raj Kumar, Joint Secretary, Department of Economic Affairs, Ministry of Finance, Government of India.

The National Hydrology Project, will build on the success of the Hydrology Project-I and Hydrology Project-II, under which, for the first time, real-time flood forecast systems were integrated with weather forecasts in two large river systems (Krishna and Satluj-Beas), giving reservoir managers an accurate picture of the water situation in their region. As a result, the time available for early warnings on flood and preparation for flood management improved from hours to days, which led to saving hundreds of lives and avoided flood damages ranging from US$17 million to US$65 million in a year.

This project will now scale up the successes achieved under HP-I and HP-II to cover the entire country, including the states in the Ganga, and Brahmaputra-Barak basins. Apart from helping states that have already benefited from the earlier two projects to further upgrade and complete their monitoring networks, it will help new states to better manage water flows from the reservoirs. Memorandum of Agreements (MOAs) have already been signed between the central government and the states to integrate and establish the National Water Informatics Center. National Flood Forecasting Systems with an advance warning system and reservoir operation systems as well as water resources accounting in river basins will be included under the project.

n++In the context of climate change, advanced flood management and enhanced river basin planning are essential for building livelihoods and sustaining economic growth,n++ said Genevieve Connors, Program Leader and Acting Country Director, World Bank in India. n++This project has the potential to help communities plan in advance to build resilience against possible uncertainties of climate change.n++

It will also help the states monitor all the important aspects of the hydro-meteorological cycle and adopt the procedures laid out in the earlier projects such as how much rain or snow has fallen right in the catchments of rivers, how rapidly the snow will melt, the speed with which the water is flowing, how much silt has built up, how much water will reach the reservoir, and how soon it will do so. Sensors in the field will instantly transmit this information to data centers through satellite or mobile phone technology, enabling managers to form a clear picture of the water situation unfolding in their region.

n++Based on our experience over the last 20 years in establishing Hydrological Information Systems in southern India and in Himachal Pradesh and Punjab, both national and state governments are now committed to an integrated river basin planning and management. This project responds to this demand by extending its reach to cover the entire country,n++ said Anju Gaur, Senior Water Resources Specialist and World Banks Task Team Leader for the project.

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Winsome Diamonds & Jewellery appoints director
Apr 25,2017

Winsome Diamonds & Jewellery announced that Kalpesh Sanghani has been appointed as an Additional Director with effect from 24 April 2017.

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99 Percent Telecom-related complaints get resolved on Twitter
Apr 25,2017

After the launch of Twitter Sewa by the Minister of Communications Shri Manoj Sinha in August last Year for registration and resolution of complaints, about 99 percent of the complaints have been resolved through the social media. As per data released by BSNL, as on April 15, 2017, it has received a total number of 27,988 complaints and has resolved 27,965 grievances with a resolution rate of 99.91%. The Telecom Minister having twitter account @manojsinhabjp has been calling for daily status reports on resolution of telecom and postal related complaints received through this platform. Similarly, India Post has handled 27,000 tweets and resolved them promptly.

In case of Telecom, consumer complaints relate mainly to telephone bills, broadband connectivity, faulty connections, shifting of landline phones and wi-fi hotspots, while in the case of postal services complaints are mainly in the nature of slow delivery of their articles containing PAN Cards, Roll numbers, parcels, money orders and medicines etc. Issues relating to repairs of Post Office buildings, technical issues with saving banks accounts are also sorted out quickly.

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Volumes jump at Welspun Corp counter
Apr 25,2017

Welspun Corp clocked volume of 69.18 lakh shares by 13:49 IST on BSE, a 165.87-times surge over two-week average daily volume of 42,000 shares. The stock surged 6.04% at Rs 86.85.

Essar Shipping notched up volume of 31.46 lakh shares, a 73.2-fold surge over two-week average daily volume of 43,000 shares. The stock jumped 9.98% at Rs 33.60.

Kalpataru Power Transmission saw volume of 3.02 lakh shares, a 32.86-fold surge over two-week average daily volume of 9,000 shares. The stock rose 0.86% at Rs 351.35.

Indian Bank clocked volume of 15.12 lakh shares, a 15.16-fold surge over two-week average daily volume of 1 lakh shares. The stock spurted 9.01% at Rs 310.85.

Biocon saw volume of 3 lakh shares, a 8.81 -fold rise over two-week average daily volume of 34,000 shares. The stock surged 9.95% at Rs 1,172.

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Biocon leads gainers in BSEs A group
Apr 25,2017

Biocon jumped 10.47% at Rs 1,177.45 at 13:45 IST on BSE after the company said that its board of directors will consider bonus issue of shares at a meeting scheduled on Thursday, 27 April 2017. The announcement was made after market hours yesterday, 24 April 2017. The stock topped the gainers in A group. On the BSE, 3.33 lakh shares were traded on the counter so far as against the average daily volumes of 34,000 shares in the past two weeks.

Indian Bank surged 9.21% at Rs 311.40. The stock was the second biggest gainer in A group. On the BSE, 15.2 lakh shares were traded on the counter so far as against the average daily volumes of 1 lakh shares in the past two weeks.

Welspun Corp gained 6.11% at Rs 86.90. The stock was the third biggest gainer in A group. On the BSE, 69.18 lakh shares were traded on the counter so far as against the average daily volumes of 42,000 shares in the past two weeks.

Bayer Cropscience surged 5.79% at Rs 4,563.90. The stock was the fourth biggest gainer in A group. On the BSE, 7,244 shares were traded on the counter so far as against the average daily volumes of 7,595 shares in the past two weeks.

Delta Corp rose 5.75% at Rs 176.60. The stock was the fifth biggest gainer in A group. On the BSE, 15.89 lakh shares were traded on the counter so far as against the average daily volumes of 12.15 lakh shares in the past two weeks.

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Tiger Logistics (India) signs MoU with P&G Associates
Apr 25,2017

Tiger Logistics (India) has signed a Memorandum of Understanding with P&G Associates, a leading advisory firm to explore the business opportunities in Defence and Paramilitary Logistics (Air force, Army, Naval & Paramilitary forces). Through this MoU, Cmde Gurpreet Singh Oberoi (Retd.), an ex-commodore, will render his service to be the Defence Advisor for Tiger Logistics (India).

This MoU aims to bring a sharper focus on the Defence Logistics segment which is a niche segment with high entry barriers. With this, management of the Company is expecting to increase the top line by 10%, based on the current market conditions.

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NTPC provides update on its JV - Maitree Super Thermal Power Project
Apr 25,2017

NTPC announced that Bangladesh India Friendship Power Company (BIFPCL), a 50:50 Joint Venture Company between NTPC and Bangladesh Power Development Board (BPDB) has issued Notice to Proceed (NTP) to BHEL on 24 April 2017 for executing the contract for 1320 MW (2 x 660 MW) Coal based Maitree Super Thermal Power Project at Rampal in Bagerhat District of Khulna division, Bangladesh on turnkey basis. The investment in project has been approved by BIFPCL board at an appraised estimated cost of USD 2.0 Billion.

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Eros drops as promoter pares stake
Apr 25,2017

Meanwhile, the S&P BSE Sensex was up 219.28 points or 0.74% at 29,875.12. The S&P BSE Small-Cap was up 135.48 points or 0.89% at 15,426.74.

On the BSE, 99,000 shares were traded on the counter so far as against the average daily volumes of 1.80 lakh shares in the past one quarter. The stock had hit a high of Rs 238.50 and a low of Rs 232.60 so far during the day.

The stock had hit a 52-week high of Rs 308.40 on 28 March 2017 and a 52-week low of Rs 150.15 on 22 November 2016. It had underperformed the market over the past one month till 24 April 2017, sliding 11.6% compared with the Sensexs 0.8% rise. The scrip had, however, outperformed the market over the past one quarter, gaining 37.73% as against the Sensexs 8.33% rise.

Eros Worldwide FZ LLC sold 5.72 lakh shares of Eros International Media at Rs 240.73 per share in a bulk deal on the NSE yesterday, 24 April 2017.

Eros Worldwide FZ LLC held 50.21% stake in Eros International Media end March 2017.

On consolidated basis, Eros International Medias net profit rose 149.6% to Rs 101.88 crore on 1% decline in net sales to Rs 332.12 crore in Q3 December 2016 over Q3 December 2015.

Eros International Media operates in the Indian film entertainment industry. It acquires, co-produces and distributes Indian films across all available formats such as cinema, television and digital new media.

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Jubilant Life gets healthier after receiving USFDA nod for drug
Apr 25,2017

The announcement was made during market hours today, 25 April 2017.

Meanwhile, the S&P BSE Sensex was up 185.93 points or 0.63% at 29,841.77.

On the BSE, 97,280 shares were traded on the counter so far as against the average daily volumes of 1.05 lakh shares in the past one quarter. The stock had hit a high of Rs 835.30 and a low of Rs 792.90 so far during the day.

The stock had hit a record high of Rs 879.10 on 12 April 2017 and a 52-week low of Rs 294.20 on 24 June 2016.

It had outperformed the market over the past one month till 24 April 2017, gaining 1.07% compared with the Sensexs 0.8% rise. The scrip had also outperformed the market over the past one quarter, advancing 13.83% as against the Sensexs 8.33% rise.

The large-cap company has equity capital of Rs 15.93 crore. Face value per share is Rs 1.

Jubilant Life Sciences announced that it has received Abbreviated New Drug Application (ANDA) final approval for Olmesartan Medoxomil Tablets, 5 mg, 20 mg and 40 mg from the United States Food & Drug Administration (USFDA).

Olmesartan Medoxomil Tablets, 5 mg, 20 mg and 40 mg is the generic version of Benicar of Daiichi Sankyo, which is used for the treatment of hypertension.

This is the second approval that the company has received from the USFDA during the current financial year. The company had a total of 73 ANDAs for oral solids filed in the US, of which 49 have been approved.

Jubilant Life Sciences consolidated net profit fell 2.6% to Rs 119.78 crore on 8.7% rise in net sales to Rs 1438.81 crore in Q3 December 2016 over Q3 December 2015.

Jubilant Life Sciences is an integrated global pharmaceutical and life sciences company engaged in pharmaceuticals, life science ingredients and drug discovery solutions. The pharmaceuticals segment, through its wholly owned subsidiary Jubilant Pharma, is engaged in manufacture and supply of APIs, solid dosage formulations, radiopharmaceuticals, allergy therapy products and contract manufacturing of sterile and non-sterile products through 6 USFDA approved manufacturing facilities in India, USA and Canada.

The life science ingredients segment, is engaged in specialty intermediates, nutritional products and life science chemicals through 5 manufacturing facilities in India. The drug discovery solutions segment, provides proprietary in-house innovation & collaborative research and partnership for out-licensing through 3 world class research centres in India and USA.

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Lupin allots 58569 equity shares
Apr 25,2017

Lupin has allotted 58569 fully paid up equity shares of Rs. 2/- each. These shares have been allotted upon exercising of options granted to the employees under Stock option plans of the Company. In view of the above, the issued and paid up capital of the Company has been increased to Rs. 90,32,70,876 consisting 45,16,35,438 equity shares of Rs. 2/- each.

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Board of Northlink Fiscal and Capital Services accepts resignation of company secretary
Apr 25,2017

Northlink Fiscal and Capital Services informs the stock exchange that the Board of Directors at their meeting held on 24 April 2017 has approved the resignation of Sahil Khurana, Company Secretary of the company w.e.f. 31 March 2017.

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FICCI urges the Government to finalise and announce the Tourism Policy this year itself
Apr 25,2017

FICCI (Federation of Indian Chambers of Commerce and Industry) has recommended to the Ministry of Tourism, Government of India, the announcement of National Tourism Policy in the year 2017. It is to be recalled that the draft of the policy had already been prepared in 2015 and had been distributed to the stakeholders for their inputs.

The report states that the draft policy reflects the evolving paradigm of the industry and has also suggested several developmental initiatives. FICCI has urged that the draft be finalized as a time-bound mission so that the policy can be released this year itself. The Policy will provide right impetus and direction to the state tourism policies as well. Furthermore, it will also ensure fast pace implementation of several key initiatives and institutional reforms proposed in the Draft Tourism Policy.

The other recommendations in the report relating to policy and regulatory interventions pertain to setting up of a National Tourism Authority, increasing budget allocation to tourism industry, suggesting lower GST slabs for tourism sector and increasing application window for e-visa from 1 month to 6 months. It also urges for promoting hassle free travel by increasing e-visas to more countries.

Snapshot of key statistics indicate that there is a rising trend of Tourism in India. India has also jumped 12 positions and stands at the 40th rank in Tourism & Travel competitive index, 2017 now. World Travel and Tourism Council (WTTC) research forecasts that between 2016 and 2026, the 10 fastest growing destinations for leisure-travel spending will be India. The shifts suggest that developing and emerging countries are catching up by providing better conditions to develop their Travel and Tourism competitiveness and, therefore, becoming better prepared to attract and welcome the millions of new tourists who will travel for the first time in the coming decade.

Tourisms contribution to capital investment is projected to grow 6.3 % p.a. during 2016-26, higher than the global average of 4.5%.

Contribution of visitor exports to total exports is estimated to increase 7.2 % p.a. during 2016-2026 compared to the world average of 4.3% pa. By 2025, Foreign Tourist Arrivals in India are expected to reach 15.3 million, according to the WTO.

Foreign Exchange Earnings (FEE) during the period January- February 2017 were Rs 31,357 crore with a growth of 14.9%, as compared to the foreign exchange earnings of Rs 27,296 crore with a growth of 15.0% in January-February 2016 over January-February 2015.

India ranked 3rd among 184 countries in terms of travel and tourisms total contribution to GDP in 2016. The sectors direct contribution to GDP is expected to grow by 8.6% p.a. during 2016-20.

Employment Generation within Indian tourism sector estimated to support 38.4 million jobs by 2016 which have been further forecasted to reach approx 46 million jobs by 2026.

Domestic travel spending generated 82.5% of direct Travel & Tourism GDP in 2015 compared with 17.5% for visitor exports. Domestic travel spending is expected to rise by 7.8% pa to Rs 13,305.5bn in 2026 while visitor exports are expected to rise by 7.2% pa to Rs 2,625.6 bn in 2026.

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Wendt (India) advances after good Q4 earnings
Apr 25,2017

The result was announced after market hours yesterday, 24 April 2017.

Meanwhile, the S&P BSE Sensex was up 190.47 points or 0.64% at 29,846.71.

On the BSE, 526 shares were traded on the counter so far as against the average daily volumes of 481 shares in the past two weeks. The stock had hit a high of Rs 2,360 and a low of Rs 2,300 so far during the day. The stock had hit a 52-week high of Rs 2,445 on 21 April 2017 and a 52-week low of Rs 1,666 on 26 December 2016.

Wendt (India)s board recommended a dividend of Rs 15 per share for the year ended March 2017.

Wendt (India) is a manufacturer of super abrasives, grinding, honing and special purpose machines and components.

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IndusInd Bank nudges higher after opening new branch
Apr 25,2017

The announcement was made after market hours yesterday, 24 April 2017.

Meanwhile, the S&P BSE Sensex was up 191.31 points, or 0.65% to 29,847.15.

On the BSE, 3,721 shares were traded in the counter so far, compared with average daily volumes of 1.44 lakh shares in the past one quarter.

The stock had hit a high of Rs 1,444 and a low of Rs 1,435.20 so far during the day. The stock had hit a record high of Rs 1,444.55 on 13 April 2017. The stock had hit a 52-week low of Rs 965.65 on 21 April 2016.

It had outperformed the market over the past one month till 24 April 2017, gaining 3.19% compared with the Sensexs 0.8% rise. The scrip had also outperformed the market over the past one quarter, advancing 14.56% as against the Sensexs 8.33% rise.

The large-cap private sector bank has equity capital of Rs 598.21 crore. Face value per share is Rs 10.

Expanding presence across Jharkhand, IndusInd Bank recently inaugurated its third branch in Jamshedpur, the first planned industrial city of India. The branch is located at Mango, Jamshedpur.

With the inauguration of this branch, the bank now has 19 branches in Jharkhand.

Meanwhile, IndusInd Bank announced during market hours yesterday, 24 April 2017 that it recently inaugurated its first branch in Bhinder, known for its silver and cloth market. The branch is located at Rampole Darwaja, station road, Bhinder, Udaipur, Rajasthan. With the inauguration of this branch, the bank now has 94 branches in Rajasthan.

IndusInd Banks net profit rose 21.2% to Rs 751.61 crore on 22.4% increase in total income to Rs 5041.31 crore in Q4 March 2017 over Q4 March 2016.

Induslnd Bank is a private sector bank and caters to the needs of both consumer and corporate customers.

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ADB Lending Hits Record High in its 50th Year as Infrastructure Demand Rises
Apr 25,2017

The Asian Development Banks (ADB) annual operations exceeded the $30 billion mark for the first time in its 50-year history last year as regional demand for development finance and knowledge n++ particularly on infrastructure n++ continues to grow, according to the banks 2016 Annual Report (AR) released today.

ADBs total lending in 2016, including co-financing, reached $31.70 billion n++ an 18% increase from 2015, according to the annual report. The total include $17.47 billion in approvals for loans and grants, $169 million for technical assistance, and $14.06 billion for co-financing, which increased by a record 31% over 2015. Disbursements, a key indicator for successful project implementation, also reached a new high of $12.26 billion in 2016.

Private sector operations reached $2.5 billion for only the second time in ADBs history n++ a result reflecting ADBs long-term strategy to significantly boost support for private enterprise to create more high quality jobs and increase living standards across Asia and the Pacific. Apart from its own funds, ADBs private sector operations also generated a record $5.84 billion in co-financing n++ a $1.2 billion increase from 2015 n++ which included $238 million in official co-financing to support non-sovereign operations.

These figures update the provisional operations numbers released by ADB in January.

n++The increase in our development financing to Asia and the Pacific reflects our strong commitment to improving the lives of the people in the region,n++ said ADB President Takehiko Nakao. n++As ADB celebrates 50 years of providing development assistance, we will strive even harder to meet the changing needs of our developing member countries.n++

The 2016 AR reviews the significant economic transformation in Asia and the Pacific over the past 50 years, and the role played by ADB to support the regions development to improve peoples lives. The report notes that while the regions economic growth and success in reducing poverty have exceeded the most optimistic forecasts, there remain significant challenges to be addressed.

n++We cannot be complacent,n++ said President Nakao. n++The fact remains there are still 330 million people living in absolute poverty across Asia and the Pacific. A lack of infrastructure continues to limit economic growth, inhibit poverty reduction, and restrict improvements to quality of life.n++

ADB estimates that the region requires $1.7 trillion a year to meet its infrastructure financing needs. There are other pressing challenges such as climate change, health, education, and gender equality. To help address these development needs, ADB has scaled up its operations and expanded its financing capacity through the merger of its Asian Development Fund (ADF) lending operations with the Ordinary Capital Resources (OCR) balance sheet, which became effective on 1 January this year. OCR equity almost tripled, from $17.3 billion to $48.1 billion, as $30.8 billion of ADF loans and other assets were transferred from the ADF. The merger is expected to increase ADBs annual loan and grant approvals by over 50% to more than $20 billion by 2020.

ADB will also increase grant support to its poorest countries by 70% over the next 4 years, following the successful $3.3 billion replenishment of the ADF in May 2016. Contributions from 32 donors, including an increase in pledges from emerging Asian economies, will allow ADB to double the minimum allocation for small countries, provide strengthened support for disaster risk management, and offer greater assistance for regional health security.

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