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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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Employees Provident Fund Organization (EPFO) is developing online claims settlement process by receiving application online
Apr 10,2017

Employees Provident Fund Organization (EPFO) is developing online claims settlement process by receiving application online. The application will be integrated with Unified Mobile App for New-age Governance (UMANG) App to receive the claims online. However, time frame to rollout the same has not been finalized. EPFO has engaged Centre for Development of Advanced Computing (C-DAC), Pune as its technical consultant for upgradation of its technology.

Necessary hardware by way of the latest technology for servers, storages & Networking equipments have been installed at three data centers in Delhi, Gurugram & Secunderabad.

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Suzlon Energy wins repeat order for 50.40 MW wind power project
Apr 10,2017

Suzlon Group has won a repeat order of 50.40 MW wind power project from a leading IPP company. This is a maiden order for 24 units of Suzlons new S111 120m hybrid wind turbine generator, each with arated capacity of 2.1 MW. Located in Karnataka, the project will be completed by June 2017.

Suzlon will execute the entire project on a turnkey basis and will also provide operation and maintenance services. The project has the potential to provide power to over 27,000 households andreduce 0.10 million tonnes of CO2 emissions per annum.

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Surana Solar announces resignation of company secretary and compliance officer
Apr 10,2017

Surana Solar announced that Badarish H Chimalgi has resigned as Company Secretary and Compliance Officer of the Company with effect from 10 April 2017.

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Atlanta and its subsidiary - Atlanta Infra Assets receives Rs 314.78 crore
Apr 10,2017

Atlanta and its subsidiary, Atlanta Infra Assets has received part of its Arbitration Award Money amounting to Rs 196.90 crore and Rs 117.88 crore respectively totalling to Rs 314.78 crore. The receipts are utilised for repaying future debt obligations and augmentation of working capital requirements.

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Bhagyanagar India appoints company secretary and compliance officer
Apr 10,2017

Bhagyanagar India announced that Badarish H Chimalgi has been appointed as Company Secretary and Compliance Officer of the Company with effect from 10 April 2017.

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HDFC Bank proposes to raise Rs 50000 crore in next 12 months
Apr 10,2017

HDFC Bank proposes to raise funds by issuing Perpetual Debt Instruments (part of Additional Tier I Capital), Tier II Capital Bonds and Senior Long Term Infrastructure Bonds up to a total amount of Rs. 50,000 crore in the period of next twelve months through private placement mode.

The Board of Directors of the Bank would consider this proposal at its ensuing Board meeting to be held on 21 April 2017.

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Goodluck India proposes new manufacturing facility in Bhachau, Gujarat
Apr 10,2017

Goodluck India announced that the Company is coming up with new manufacturing facility for its existing line of business eg. Steel tubes, pipes, precision tubes etc. at its land situated at Village: SikraTaluka-Bhachau (Kachchh),Gujarat.

The companys existing manufacturing capacity is 2,30,000 MTPA and presently running at optimal capacity utilization The proposed manufacturing facility of approx 72000 MTPA will add in the companys total production capacity.

The proposed manufacturing facility is coming up at companys already owned land in Gujarat with the total investment of 74 crore which will met by debt and internal accruals/promoters contribution. The Plant is expected to be commissioned by April 2018.

The location of proposed facility is within proximity of two ports i.e. Kandla Sea Port and Mundra Sea Port and strategically very suitable to the proposed project as it will reduce freight cost for exports to a significant extent and will give an edge over the competitors. Beside that proposed location for the project is well equipped with all the basic amenities and infrastructure facilities for the industry.

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Board of Vishal Fabrics approves allotment of equity shares on rights basis
Apr 10,2017

Vishal Fabrics announced that the Board of Directors of the Company at its meeting held on 07 April 2017 have passed resolution for allotment of 87,82,667 equity shares aggregating to Rs 87.82 crore on rights basis.

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FPIs turn net sellers
Apr 10,2017

Foreign portfolio investors (FPIs) sold stocks worth a net Rs 251.83 crore into the secondary equity markets on 7 April 2017, compared with net inflow of Rs 276.44 crore on 6 April 2017. On that day, the Sensex declined 220.73 points or 0.74% to settle at 29,706.61.

The net outflow of Rs 251.83 crore on 7 April 2017 was a result of gross purchases of Rs 5089.45 crore and gross sales of Rs 5341.28 crore.

There was a net inflow of Rs 110.09 crore into the category primary market & others on 7 April 2017, which was a result of gross purchases of Rs 110.09 crore and nil gross sales.

FPIs had bought stocks worth a net Rs 853.45 crore in April 2017 (till 7 April 2017). FPIs had bought stocks worth a net Rs 29480.37 crore in March 2017.

FPIs have purchased shares worth a net Rs 37340.92 crore from the secondary equity markets in calendar year 2017 (till 7 April 2017). They had purchased shares worth a net Rs 12094.42 crore from the secondary equity markets in calendar year 2016.

There was a net inflow of Rs 4000.27 crore from FPIs into the category primary market & others in April 2017 so far (till 7 April 2017). FPIs had bought stocks worth a net Rs 1425.63 crore from the category primary market & others in March 2017.

FPIs have purchased shares worth a net Rs 7144.38 crore from the category primary markets & others in calendar year 2017 so far (till 7 April 2017). The net inflow from FPIs in the category primary markets & others had totaled Rs 8471.76 crore in calendar year 2016.

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Outcome of board meeting of Globus Spirits
Apr 10,2017

Globus Spirits announced that the Board of Directors of the company at its meeting held on 10 April 2017 transacted the following -

Considered and approved the resignation of Rajesh Sehgal as Director of the Company with effect from 10 April 2017.

Approved the appointment of Richard Andrew Cornish Piliero (being nominee of Templeton Strategic Emerging Markets Fund IV, LDC) as an Additional Director of the company.

Board has approved the incorporation of a company in UK with an initial investment of 50 GBP by way of subscription of 50 equity share of 1 GBP each fully paid up in 50% partnership with Gapuma Group.

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Board of Hindustan Composites approves stock split and bonus issue
Apr 10,2017

Hindustan Composites announced that the Board of Directors of the Company at its meeting held on 10 April 2017, inter alia, considered the following matters:

1)Sub-division of existing 1 equity share having face value of Rs. 10/- each fully paid-up into 2 equity shares having F.V. of Rs. 5/- each,

2)Increase in Authorized Share Capital of the Company from Rs. 6 crore to Rs. 8 crore divided into 1.6 crore equity shares of Rs. 5/- each and subsequent alteration of Capital Clause of Memorandum of Association to give effect to the sub-division of shares and increase in the authorized share capital,

3)Issue of bonus shares in proportion of 1:2 (Post split face value per equity share),

4)Decided to seek shareholders approval through Postal Ballot Process for the proposed sub-division of shares, increase in authorized share capital, subsequent alteration of Capital Clause of MOA of the Company and issue of bonus shares.

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National Manufacturing Competitiveness Programme to enhance the global competitiveness of manufacturing MSMEs
Apr 10,2017

The main objective of the National Manufacturing Competitiveness Programme (NMCP) is to enhance the global competitiveness of manufacturing Micro, Small and Medium Enterprises (MSMEs) by intervening through following components:


i)          Lean Manufacturing Competitiveness Scheme,

ii)        Design Clinic Scheme,

iii)     Technology & Quality Up-gradation support for MSMEs (TEQUP),

iv)      Promotion of ICT in manufacturing Sector,

v)        Building Awareness on Intellectual Property Rights (IPR),

vi)    Entrepreneurial & Management Development of SMEs through incubators,

vii)  Enabling Manufacturing Sector to be Competitive through Quality Management Standards (QMS) and Quality Technology Tools QTT (This component has been subsumed under ZED certification scheme).

The achievements under the programme are visible from the improvement in the demand offtake from the MSMEs which is showing an increasing trend. This is reflective of the realization of the benefits by MSMEs under the scheme after implementation of various NMCP components. The figures during the last three year are given below:

Year

Actual Utilization
(Rs. in crore)

2014-15

31.90

2015-16

36.37

2016-17

47.13 (upto Dec, 2016)

The Ministry of Micro, Small and Medium Enterprises (MSME)  implements various schemes and programmes for promotion of MSME in all the States of India, viz., Credit Guarantee Scheme, Credit Linked Capital Subsidy Scheme, National Manufacturing Competitiveness Programme (NMCP), Cluster Development Programme, Marketing Development Assistance, International Cooperation Scheme and Prime Ministers Employment Generation Programme, etc. The budgetary allocations and utilization in respect of the Ministry of Micro, Small and Medium Enterprises (MSME) for implementation of various schemes / programmes for promotion and development of MSMEs for last three years is as under:

(Rupees in crore)

YearsAllocation (BE)Utilization2014-153327.002389.902015-162612.512440.562016-173000.002015.33 (upto Dec, 2016)

As per the data compiled by the Reserve Bank of India (RBI) from the Scheduled Commercial Banks, the position regarding number of sick Micro, Small and Medium Enterprises (MSMEs) in the country at the end of March, 2013, March, 2014, March, 2015 and March, 2016 is as under:

At the end ofNumber of sick MSMEsMarch, 20132,22,204March, 20144,68,399March, 20155,37,269March, 20164,86,291

The Government has organised 78 nos. of Awareness campaign on Intellectual Property Rights (IPR) during the year 2016-17 under IPR scheme.

The Ministry of MSME has implemented Enabling Manufacturing Sector to be Competitive through Quality Management Standards (QMS) and Quality Technology Tools (QTT) to improve the Quality of the products in the MSME sector and inculcate the quality consciousness in enterprises in this sector. The QMS/QTT scheme has since been subsumed / merged with Zero Defect Zero Effect (ZED) Certification Scheme w.e.f. 18th October, 2016. Under the scheme 27,755 MSEs were assisted with an expenditure of Rs. 10.35 crore till date.

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InterGlobe Aviation takes off on high volume
Apr 10,2017

Meanwhile, the S&P BSE Sensex was down 130.87 points or 0.44% at 29,575.74.

Bulk deal boosted volume on the scrip. On the BSE, 3.60 lakh shares were traded on the counter so far as against the average daily volumes of 43,709 shares in the past one quarter. The stock had hit a high of Rs 1,097.50 and a low of Rs 1,031 so far during the day.

The stock had hit a 52-week high of Rs 1,095.40 on 5 May 2016 and a 52-week low of Rs 702 on 11 February 2016. The stock had outperformed the market over the past one month till 7 April 2017, rising 18.7% compared with 2.69% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 23.71% as against Sensexs 11.01% rise.

The large-cap company has equity capital of Rs 361.47 crore. Face value per share is Rs 10.

InterGlobe Aviations net profit fell 25.1% to Rs 487.26 crore on 16.76% growth in total income to Rs 5158.43 crore in Q3 December 2016 over Q3 December 2015.

InterGlobe Aviation is the operator of low cost passenger airline IndiGo.

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Foreign brokerage upgrade boosts Welspun India
Apr 10,2017

Meanwhile, the S&P BSE Sensex was down 117.28 points, or 0.39%, to 29,589.33. The S&P BSE Mid-Cap was up 80.74 points, or 0.57%, to 14,313.90.

On BSE, so far 4.48 lakh shares were traded in the counter, compared with average daily volume of 3.12 lakh shares in the past one quarter. The stock hit a high of Rs 91.10 and a low of Rs 86.75 so far during the day. The stock hit a record high of Rs 119.90 on 14 June 2016. The stock hit a 52-week low of Rs 46.35 on 30 August 2016.

The stock had underperformed the market over the past one month till 7 April 2017, falling 1.69% compared with 2.69% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 20.46% as against Sensexs 11.01% rise.

The mid-cap company has equity capital of Rs 100.47 crore. Face value per share is Re 1.

The foreign brokerage reportedly expects 15% revenue growth in the year ending 31 March 2019 (FY 2019) and over 20% growth in earnings per share (EPS). The new flooring capacity will also be operational in FY 2020 and can add 8-9% to FY 2020 revenue growth, the foreign brokerage reportedly said in a research report.

Welspun Indias consolidated net profit fell 16.2% to Rs 149.38 crore on 1.2% rise in net sales to Rs 1306.77 crore in Q3 December 2016 over Q3 December 2015

Welspun India is the leading home fashions supplier in the USA and amongst the top 3 global manufacturers of bed and bath linen.

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Liquor stocks slide after MP govt mulls ban
Apr 10,2017

Radico Khaitan (down 6.98%), United Spirits (down 5.29%), Associated Alcohols & Breweries (down 5%), Pioneer Distilleries (down 4.9%), Tilaknagar Industries (down 4.06%), G M Breweries (down 3.94%), United Breweries (down 3.5%) and Empee Distilleries (down 1.17%), edged lower. Khoday India was up 1.64%.

Meanwhile, the S&P BSE Sensex was down 126.05 points, or 0.42% at 29,580.56.

Madhya Pradesh is reportedly headed towards total prohibition with Chief Minister Shivraj Singh Chouhan announcing that all liquor shops would be closed across the state in a phased manner.

Alcohol prohibition will be implemented in the entire state by closing all liquor shops in a phased manner, Chouhan announced on Sunday, 9 April 2017, while addressing a programme at village Neemkhera (Heerapur) of Narsinghpur district. In the first phase, the state government closed all the shops falling within a radius of five kilometers from the banks of river Narmada on either side. In the next phase, the liquor shops would not be allowed to open in residential localities, near educational institutes or religious places, he reportedly said.

According to reports, a de-addiction drive would also be launched in the state.

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