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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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Tata Communications slumps after reporting weak Q2 results
Nov 09,2016

The result was announced after market hours yesterday, 8 November 2016.

Meanwhile, the S&P BSE Sensex was down 1,019.52 points or 3.7% at 26,571.62.

On BSE, so far 7,200 shares were traded in the counter as against average daily volume of 1.59 lakh shares in the past one quarter. The stock hit a high of Rs 576.75 and a low of Rs 550.05 so far during the day.

Tata Communications reported Rs 125 crore as an impairment on investment in Neotel in Q2 September 2016.

Tata Communications along with its subsidiaries is a leading global provider of communications.

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Board of Azure Exim Services to approve September quarter results
Nov 09,2016

Azure Exim Services announced that the Board Meeting of Board of Director of the Company is scheduled to be held on 14 November 2016, inter alia, to consider and approve the Un-audited Financial Result for the Quarter ended on 30 September 2016.

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Shiva Medicare Board to consider September quarter and half year results
Nov 09,2016

Shiva Medicare announced that the Board meeting of the Company is scheduled to be held on 14 November 2016, inter alia, to consider and approve the Un-audited Financial results for the quarter and half year ended 30 September 2016.

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Samruddhi Realty to announce half yearly results
Nov 09,2016

Samruddhi Realty announced that a meeting of the Board of Directors of the Company is scheduled to be held on 14 November 2016, inter alia, to consider and approve the unaudited financial results of the Company for the half year ended 30 September 2016.

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Entertainment Network (India) director resigns
Nov 09,2016

Entertainment Network (India) announced that B. S. Nagesh, Independent & Non-executive Director, has resigned from the Board of Directors and all Board Committees of Entertainment Network (India) effective from the close of the business hours on 08 November 2016 due to personal commitments and other preoccupations.

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Board of Tata Communications consider acquisition of its subsidiary -Neotel by Liquid Telecom
Nov 09,2016

Tata Communications announced that the Board of Directors of the Company at its meeting held on 08 November 2016 recommended to shareholders of its subsidiary, Neotel, the sale of entire shareholding of Neotel to Liquid Telecom, a pan-African telecoms group, majority owned by Econet Wireless Global, subject to approval of the Independent Communications Authority of South Africa.

The deal has already been cleared by the Government of India and Competition Commission of South Africa.

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New Green Urban Transport Scheme on the anvil with Central assistance of Rs.25,000 cr
Nov 09,2016

Minister of Urban Development Shri M.Venkaiah Naidu today said that the Central Government is working on new policy initiatives to encourage private investments in climate friendly and sustainable public transport systems like Metro rail, Non-motorised Transport and other low carbon emitting systems in urban areas. He spoke on the inadequate and inefficient public transport infrastructure in urban areas after inaugurating the four day Urban Mobility India Conference and Expo at Gandhinagar, Gujarat. Various aspects of n++Planning Mobility for Citys Sustainabilityn++ will be discussed by about 2,500 delegates from India and abroad including Mayors and Municipal Councilors, during the conference.

Shri Naidu said that the new initiatives under consideration include Green Urban Transport Scheme, new Metro Rail Policy, revision of Metro Acts and Standardisation and Indigenisation of Metro systems, aimed at increased private sector participation.

The Minister informed that the Green Urban Transport Scheme seeks to encourage growth of urban transport along low Carbon path for substantial and measurable reduction in pollution, provide a permanent and sustainable framework for funding urban mobility projects at National, State and City level with minimum recourse to budgetary support by encouraging innovative financing of projects. Under this Scheme, provision of Non-motorised Transport infrastructure, increasing access to public transport, use of clean technologies, adoption of Intelligent Transport Systems (ITS) and private sector participation in urban transport projects will be increased. He said, this scheme is being considered for for implementation in cities each with a population of five lakhs and above and all capital cities, Central assistance of about Rs.25,000 cr is estimated to be required which would in turn trigger private investments to meet the resource needs, over the next five years.

Shri Naidu said that in view of the growing demand for metro rail systems in urban areas, a new Metro Policy would soon be unveiled to meet the demand through increased private sector participation. This Policy mandates preparation of Comprehensive Mobility Plans of cities mandatory to ensure last mile connectivity with metro stations. It also seeks to bring in more innovativee models of implementation besides increased standardization and indigenization to induce competition. the Minister said new Metro policy seeks to ensure integration of metro projects with over all mobility needs in urban areas. He informed that the Central government has so far provided an assistance of over Rs.65,000 cr including sovereign debt to metro projects in different cities of the country. As of now, 325 kms. of metro rail is in operation in Delhi, Kolkata, Chennai, Bengaluru, Mumbai and Jaipur. About 517 kms of metro rail projects are under execution and another 449 kms under planning stage, the Minister informed.

The Minister said that the existing two Metro Acts made in the context of Kolkata and Delhi Metros are being integrated envisaging more delegation of powers to State Governments besides promoting PPP and private initiatives.

Stressing on the need for holistic planning to improve the citys mobility, liveability and sustainability, Shri Naidu said n++Urban transport planning shall be people centric and aim at moving people instead of moving cars. All sections of people shall be ensured access to efficient public transport through inclusive planningn++.

Expressing concern over one road accident every minute and one accident death every four minutes in urban areas and half of the victims being pedestrians, cyclists and those using two wheelers, Shri Naidu called for an affordable, comfortable, reliable and safe public transport to reduce demand for private motorized vehicles. He stressed on the need for promotion of Non-motorised transport infrastructure for encouraging walking and cycling. NMT as a viable alternative mode of mobility would be effective if there is a close relationship between work and living place, he noted and called for proper land use zoning, development control and building regulations to ensure success of public transport system in cities.

The Minister stated that under new urban sector initiatives of Smart Cities Mission and Atal Mission for Rejuvenation and Urban Transformation (AMRUT), Non-Motorised Transport is being encourages on a large scale.

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L&T may gain after signing long-term agreement with Chiyoda Corporation
Nov 09,2016

L&T announced after market hours yesterday, 8 November 2016, that it has signed a long-term n++Technical Licence Agreementn++ with Chiyoda Corporation for its Chiyoda Thoroughbred 121TM (CT-121TM) Flue Gas Desulphurisation (FGD) Technology. The agreement grants L&T exclusive rights to undertake EPC of CT-121TM FGD Systems. The new emission norms for coal-based thermal power plants in India, notified vide MoEFCC Gazette dated 7 December 2015, introduced new limits on sulphur dioxide (SO2) emissions. The move which makes Indian emission norms among the most stringent in the world, has called for mandatory installation of FGD systems in upcoming power plants, including those currently under construction and many that are already operational.

L&T and Chiyodas relationship dates back over two decades with L&T-Chiyoda Limited, a JV that has come to be an internationally reputed design and engineering consultancy organisation catering to the Hydrocarbon sector. Through the signing of this agreement, the two companies have extended their association into the power sector as well.

Bosch and Lupin will announce Q2 results today, 9 November 2016.

Bank stocks will be in focus after the ruling NDA government yesterday, 8 November 2016, announced that it is banning use of Rs 500 and Rs 1,000 notes, in its fight against the corruption, fake currency and black money. The legal tender character of the notes in denominations of Rs 500 and Rs 1000 stands withdrawn. In consequence thereof withdrawn old high denomination (OHD) notes cannot be used for transacting business and/or store of value for future usage. The OHD notes can be exchanged for value at any of the 19 offices of the Reserve Bank of India or at any of the bank branches or at any Head Post Office or Sub-Post Office. As soon as the announcement was made, the Reserve Bank of India came out with a ready reckoner on the governments move.

ICICI Bank clarified after market hours yesterday, 8 November 2016, on recent media reports regarding cyber-attacks that there was no breach incident within the control of the bank pertinent to this news item which would have required reporting. The incident reported relates only to a small segment of customers of the bank who used the other bank ATM.

HDFC Bank clarified after market hours yesterday, 8 November 2016, on recent media reports regarding cyber-attacks that the bank has taken appropriate steps in this regard. There has been no breach of HDFC Bank systems and the incident is an outcome of possible compromise at a third party payment processor. The impact for the bank is limited owing to various steps taken by the bank.

Repco Home Finances net profit rose 17% to Rs 45.69 crore on 20.01% rise in total income to Rs 259.74 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 8 November 2016.

InterGlobe Aviations profit after tax rose 23.6% to Rs 139.84 crore on 17.7% rise in total income from operations to Rs 4166.93 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 8 November 2016.

UFO Moviez Indias consolidated profit after tax rose 23.1% to Rs 20.30 crore on 6.9% rise in revenue to Rs 159.90 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 8 November 2016.

Tata Communications consolidated net profit fell 64.4% to Rs 39.96 crore on 1.08% decline in total income to Rs 4581.92 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 8 November 2016.

VA Tech Wabags consolidated net profit jumped 69.65% to Rs 24.04 crore on 31.05% rise in total income to Rs 777.60 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 8 November 2016.

Mangalore Refinery and Petrochemicals reported net profit of Rs 415.86 crore in Q2 September 2016 compared with net loss of Rs 913.38 crore in Q2 September 2015. Total income rose 10.61% to Rs 14082.70 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 8 November 2016.

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Five hundred and one thousand rupee notes will no longer be legal tender
Nov 09,2016

In a historical move that will add record strength in the fight against corruption, black money, money laundering, terrorism and financing of terrorists as well as counterfeit notes, the Government of India has decided that the five hundred and one thousand rupee notes will no longer be legal tender from midnight, 8th November 2016.

The Government has accepted the recommendations of the RBI to issue Two thousand rupee notes and new notes of Five hundred rupees will also be placed in circulation.

Notes of one hundred, fifty, twenty, ten, five, two and one rupee will remain legal tender and will remain unaffected by the decision.

Prime Minister Shri Narendra Modi made these important announcements during a televised address to the nation on the evening of Tuesday 8th November 2016. He said that these decisions will fully protect the interests of honest and hard-working citizens of India and that those five hundred and one thousand rupee notes hoarded by anti-national and anti-social elements will become worthless pieces of paper.

The Prime Minister said the steps taken by the Government would strengthen the hands of the common citizens in the fight against corruption, black money and counterfeit notes.

Fully sensitive to some of the difficulties the common citizens may face in the coming days, the Prime Minister has announced a series of steps that will help overcome the potential problems.

Persons holding old notes of five hundred or one thousand rupees can deposit these notes in bank or post offices from 10th November onwards till 30th December, the Prime Minister announced. There are also some limits placed on the withdrawals from ATMs and bank for the very short run.

Shri Modi stated that on humanitarian grounds notes of five hundred and one thousand rupees will be accepted at government hospitals, pharmacies in government hospitals (with prescription of a doctor), booking counters for railway tickets, government buses, airline ticket counters, petrol, diesel and gas stations of PSU oil companies, consumer cooperative stores authorized by the state or central government, milk booths authorized by state government and crematoria, burial grounds.

Shri Modi emphasized that there is no restriction on any kind of non-cash payments by cheques, demand drafts, debit or credit cards and electronic fund transfer.

In his address the Prime Minister shared the insight into how the magnitude of cash in circulation is linked to inflation and how the inflation situation is worsened due to the cash deployed through corrupt means. The Prime Minister added that it adversely affects the poor and the neo-middle class people. He cited the example of the problems being faced by the honest citizens while buying houses.

A time-tested commitment to eradicate black money

The Prime Minister has time and again said that the Government is committed to ensure that the menace of black money is overcome. Over the past two and a half years of the NDA Government, he has walked the talk and led by example.

The very first decision of the Prime Minister led NDA government was the formation of a SIT on black money.

A law was passed in 2015 on disclosure of foreign bank accounts. In August 2016 strict rules were put in place to curtail benami transactions. During the same period a scheme to declare black money was introduced.

The efforts have borne fruit. Over the past two and a half years, more than Rs. 1.25 lakh crore of black money has been brought into the open.

Raising the issue of black money at the world stage

Prime Minister Narendra Modi has time and again raised the issue of black money at the global forum, including at important multilateral summits and in bilateral meetings with leaders.

Record growth in last two and a half years

The Prime Minister said that the efforts of the Government have led to India emerging as a bright spot in the global economy. India is a preferred destination for investment and India is also an easier place to do business in. Leading financial agencies have shared their optimism about Indias growth as well.

Combined with this, Indian enterprise and innovation has received a fillip due to the Make in India, Start up India and Stand up India initiatives that seek to celebrate enterprise, innovation and research in India.

The historic announcements made by the Prime Minister will add value to the already thriving efforts of the Central Government.

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PTC India Financial Services standalone net profit declines 59.81% in the September 2016 quarter
Nov 08,2016

Net profit of PTC India Financial Services declined 59.81% to Rs 84.90 crore in the quarter ended September 2016 as against Rs 211.25 crore during the previous quarter ended September 2015. Sales declined 25.02% to Rs 315.64 crore in the quarter ended September 2016 as against Rs 420.97 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales315.64420.97 -25 OPM %92.8292.49 - PBDT127.04262.43 -52 PBT126.09261.35 -52 NP84.90211.25 -60

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Kusam Electrical Industries reports standalone net profit of Rs 0.15 crore in the September 2016 quarter
Nov 08,2016

Net profit of Kusam Electrical Industries reported to Rs 0.15 crore in the quarter ended September 2016 as against net loss of Rs 0.02 crore during the previous quarter ended September 2015. Sales rose 5.41% to Rs 0.78 crore in the quarter ended September 2016 as against Rs 0.74 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales0.780.74 5 OPM %8.970 - PBDT0.070 0 PBT0.05-0.02 LP NP0.15-0.02 LP

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Gorani Industries reports standalone net loss of Rs 0.07 crore in the September 2016 quarter
Nov 08,2016

Net loss of Gorani Industries reported to Rs 0.07 crore in the quarter ended September 2016. There were no net profit/loss reported during the previous quarter ended September 2015. Sales rose 16.10% to Rs 1.37 crore in the quarter ended September 2016 as against Rs 1.18 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales1.371.18 16 OPM %-2.193.39 - PBDT-0.030.04 PL PBT-0.070 0 NP-0.070 0

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Alicon Castalloy standalone net profit rises 34.38% in the September 2016 quarter
Nov 08,2016

Net profit of Alicon Castalloy rose 34.38% to Rs 6.45 crore in the quarter ended September 2016 as against Rs 4.80 crore during the previous quarter ended September 2015. Sales rose 10.23% to Rs 191.67 crore in the quarter ended September 2016 as against Rs 173.88 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales191.67173.88 10 OPM %10.859.96 - PBDT15.5712.94 20 PBT9.286.85 35 NP6.454.80 34

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Spice Islands Apparels reports standalone net loss of Rs 1.44 crore in the September 2016 quarter
Nov 08,2016

Net loss of Spice Islands Apparels reported to Rs 1.44 crore in the quarter ended September 2016 as against net profit of Rs 0.09 crore during the previous quarter ended September 2015. Sales declined 65.44% to Rs 2.06 crore in the quarter ended September 2016 as against Rs 5.96 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales2.065.96 -65 OPM %-77.670.50 - PBDT-1.310.22 PL PBT-1.440.13 PL NP-1.440.09 PL

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NGL Fine Chem standalone net profit rises 12.55% in the September 2016 quarter
Nov 08,2016

Net profit of NGL Fine Chem rose 12.55% to Rs 2.87 crore in the quarter ended September 2016 as against Rs 2.55 crore during the previous quarter ended September 2015. Sales declined 8.61% to Rs 20.80 crore in the quarter ended September 2016 as against Rs 22.76 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales20.8022.76 -9 OPM %24.4721.97 - PBDT5.234.76 10 PBT4.484.11 9 NP2.872.55 13

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