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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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Kridhan Infra consolidated net profit rises 14.73% in the December 2016 quarter
Feb 16,2017

Net profit of Kridhan Infra rose 14.73% to Rs 7.71 crore in the quarter ended December 2016 as against Rs 6.72 crore during the previous quarter ended December 2015. Sales rose 61.21% to Rs 191.26 crore in the quarter ended December 2016 as against Rs 118.64 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales191.26118.64 61 OPM %10.8515.47 - PBDT18.1616.60 9 PBT9.558.80 9 NP7.716.72 15

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The total milk production has increased from 52.21 Million Tonnes during 2015-16 (Rainy) to 54.50 Million Tonnes during 2016-17 (Rainy)
Feb 16,2017

The Integrated Sample Survey is a regular sample survey under taken on a general principle of 15% sample basis across the country. The sample Villages/Urban wards are selected from the entire rural and urban areas of States/UTs and the survey is conduct by the States/UTs in three seasons. The list of latest Livestock Census villages constitutes the sampling frame. As per general principle, for the estimation of livestock numbers, 15% (5% for each season) of the villages/urban wards will be selected in the form of two independent sub-samples in a State for complete enumeration of livestock and poultry population by using Simple Random Sampling Without Replacement (SRSWOR). Subsequently, 5 samples will be selected from each of the sub-sample to carry out detailed survey for the estimation of yield rates. The number of sample will increase or decrease according to the number of villages in each district.

Period of Survey: The Survey period for rainy season was 1st July, 2016 to 31st October, 2016.

Key Findings: The key finding of the survey is summarised as under:

Milk Production: The total milk production has increased from 52.21 Million Tonnes during 2015-16 (Rainy) to 54.50 Million Tonnes during 2016-17 (Rainy) registering a growth 4.38%. As against the targeted production of 163.74 Million Tonnes during 2016-17, the total estimated production in two seasons, summer and rainy, is 105.42 Million Tonnes showing an achievement of 64.38%. Further, as compared to previous years (2015-16) rainy estimates, the average milk yield per day has marginally improved for indigenous category of cows and buffaloes. The average yield rates of exotic and crossbred cows are estimated to be as 10.85Kgs and 7.40Kgs per animal per day respectively and the average yield rates of indigenous and non-descript cows are estimated to be as 3.56 Kgs and 2.29 Kgs per animals per day. The average yield rates of indigenous and non-descript buffaloes are estimated to be as 5.86Kgs and 4.04Kgs per animals per day respectively.

The first five highest milk producing States are Uttar Pradesh, Rajasthan, Madhya Pradesh, Gujarat and Andhra Pradesh during the Rainy Season.

3.2 Egg Production: The total egg production has increased from 27.33 Billion during 2015-16 (Rainy) to 29.09 Billion during 2016-17 (Rainy) registering a growth 6.42%. As against the targeted production of 87.05 Billions of eggs during 2016-17, the total estimated production in two seasons, summer and rainy, is 55.11 Billion showing an achievement of 63.31%. The production of egg is largely contributed by commercial poultry farms with nearly 75.75% and remaining production is from household/backyard poultry. The first five highest eggs producing States are Tamil Nadu, Andhra Pradesh, Telangana , West Bengal & Haryana during the Rainy Season.

3.3 Meat Production: The total meat production has increased from 2.24 Million Tonnes during 2015-16 (Rainy) to 2.43 Million Tonnes during 2016-17 (Rainy) registering a growth 8.74%. As against the targeted production of 7.37 Million Tonnes during 2016-17, the total estimated production in two seasons, summer and rainy, is 4.67 Million Tonnes showing an achievement of 63.28%. Nearly, 47.86% of the meat production is contributed by poultry and 20.11% is from buffaloes. The first five highest Meat producing States are Uttar Pradesh, Maharashtra, West Bengal, Andhra Pradesh, & Telangana during the Rainy Season.

3.4 Wool Production: The total wool production has decreased from 5.91 Million Kgs during 2015-16 (Rainy) to 5.78 Million Kgs during 2016-17 (Rainy), a decline of 2.16%. As against the targeted production of 44.07 Million Kgs during 2016-17, the total estimated production in two seasons, summer and rainy, is 20.66 Million Kgs showing an achievement of 46.89%. The first five highest Wool producing States are Karnataka, Gujarat, Maharashtra, Himachal Pradesh, & Jammu & Kashmir during the Rainy Season.

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Virat Leasing reports standalone net profit of Rs 0.08 crore in the December 2016 quarter
Feb 16,2017

Net profit of Virat Leasing reported to Rs 0.08 crore in the quarter ended December 2016 as against net loss of Rs 0.05 crore during the previous quarter ended December 2015. Sales rose 2280.39% to Rs 12.14 crore in the quarter ended December 2016 as against Rs 0.51 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales12.140.51 2280 OPM %0.66-9.80 - PBDT0.08-0.05 LP PBT0.08-0.05 LP NP0.08-0.05 LP

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VKJ Infradevelopers standalone net profit declines 75.00% in the December 2016 quarter
Feb 16,2017

Net profit of VKJ Infradevelopers declined 75.00% to Rs 0.01 crore in the quarter ended December 2016 as against Rs 0.04 crore during the previous quarter ended December 2015. Sales declined 62.93% to Rs 0.43 crore in the quarter ended December 2016 as against Rs 1.16 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales0.431.16 -63 OPM %2.334.31 - PBDT0.010.05 -80 PBT0.010.04 -75 NP0.010.04 -75

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Shree Ganesh Biotech India standalone net profit rises 152.38% in the December 2016 quarter
Feb 16,2017

Net profit of Shree Ganesh Biotech India rose 152.38% to Rs 1.06 crore in the quarter ended December 2016 as against Rs 0.42 crore during the previous quarter ended December 2015. Sales rose 214.81% to Rs 2.55 crore in the quarter ended December 2016 as against Rs 0.81 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales2.550.81 215 OPM %41.9654.32 - PBDT1.060.42 152 PBT1.060.42 152 NP1.060.42 152

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Kridhan Infra standalone net profit declines 77.59% in the December 2016 quarter
Feb 16,2017

Net profit of Kridhan Infra declined 77.59% to Rs 0.13 crore in the quarter ended December 2016 as against Rs 0.58 crore during the previous quarter ended December 2015. Sales declined 31.61% to Rs 11.62 crore in the quarter ended December 2016 as against Rs 16.99 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales11.6216.99 -32 OPM %6.024.65 - PBDT0.410.96 -57 PBT0.170.73 -77 NP0.130.58 -78

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Now It is Easier to File Petition for Poor
Feb 16,2017

Now, it is easier for the middle and relatively lower income group to avail and enjoy the legal services of the country. The Honble Supreme Court of India has introduced the Middle Income Group Scheme. It is a self supporting scheme which provides legal services to the middle income group citizens i.e. citizens whose gross income is not exceeding Rs.60, 000 per month or Rs. 7,50,000 per annum.

The members of the governing body to whom the management of the Society is entrusted as required under Section 2 of the Societies Registration Act, 1860, as applicable to the National Capital Territory of Delhi includes Honble Chief Justice of India as Patron-in-Chief, Attorney General for India as Ex-officio Vice-President, Solicitor General of India as Honorary Secretary and other senior advocates of the Apex Court as its members.

As per the Supreme Court rules it is only through advocates on record cases can be filed before it.

A sum of Rs.500/- shall be payable to the Supreme Court Middle Income Group Legal Aid Society (SCMIGLAS) as service charges. The applicant shall have to deposit the fee indicated by the Secretary, which will be in accordance with the schedule attached to the Scheme. It is the Secretary, who will register the case under the MIG Legal Aid Scheme and proceed to forward the papers to the Advocate-on-Record/Arguing Counsel/Senior Counsel on the panel for opinion.

If Advocate-on-Record is satisfied that it is a fit case to be proceeded with, then the Society will consider that the applicant is entitled to legal aid. The view expressed by the Learned Advocate-onRecord will be final insofar as the eligibility of the applicant for obtaining the benefit of the Scheme is concerned.

Under the scheme, middle class people who can`t afford the expensive litigation in the Supreme Court can avail the services of the society for a nominal amount. The person desirous of availing the benefit of the Scheme shall have to fill up the form prescribed and accept all the terms and conditions contained therein.

As per the scheme, contingent fund will be created to meet the miscellaneous expenditure in connection with the case under the Scheme by requiring the applicant to deposit upto the stage of admission, a sum of Rs.750/- in addition to the charges required to be deposited with the Society, out of this contingent fund.

In the event of the learned Advocate taking the view that the case is not fit one for an appeal to the Supreme Court, then the entire amount after deduction Rs.750/- towards minimum service charges of the Committee shall be refunded to the applicant by way of cheque.

As the next step, further, if the Advocate who is appointed under the Scheme is found negligent in the conduct of the case entrusted to him, then he will be required to return the brief together with the fee which he may have received from the applicant under the scheme. Further, the Society will not be responsible for the negligent conduct of the case but the entire responsibility will be that of the Advocate vis-a-vis the client. The name of the Advocate will, however, be struck off from the panel prepared under the Scheme.

A large number of poor people would approach the Honble Supreme Court for aid to sort out their cases, file cases on their behalf and get justice, but could not afford the expenses. To make filing petitions easy for the underprivileged strata of the society, the Honble Supreme Court decided to introduce this scheme.

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IndusInd Bank allots 9310 equity shares
Feb 16,2017

IndusInd Bank has allotted 9,310 (Nine Thousand Three Hundred Ten) equity shares of Rs. 10/- (Rupees Ten Only) each on 16 February 2017 to those grantees who had exercised their option under the Companys Employee Stock Option Scheme.

The said shares will rank pari-passu with the existing shares of the Company in all respect.

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Board of V B Industries decides to expand business into various new segments
Feb 16,2017

V B Industries announced that the Board of Directors of the Company at its meeting held on 16 February 2017 has decided to expand its business to new segments vide Electronics, Electricals, Software & Hardware, Retaining and Distribution, into Pan India by way of franchisee model and/or retail outlets etc. The Company is planning to set up a full fledged R&D unit and to enter into joint venture for new products or partnership with product owners. The Company also has plans to manufactured these products to tap the overseas market.

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Venkys (India) announces resignation of company secretary
Feb 16,2017

Venkys (India) announced that A. G. Bauskar has tendered his resignation from the post of Company Secretary, Compliance Officer and Chief Financial Officer of the Company for personal Reasons and the Board has accepted the same at its meeting held on 16 February 2017.

A. G. Bauskar will be relieved from his above duties with effect from the closing of business hours on 31 March 2017.

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Board of Orbit Exports allots bonus shares
Feb 16,2017

Orbit Exports announced that the Board of Directors of the Company at its meeting held on 16 February 2017 approved the issue and allotment of 143,51,150 Bonus Equity Shares in the ratio of 1:1 to the existing shareholders of the company holding shares as on record date of 15 February 2017. The said bonus shares will be credited in demat accounts of shareholders on or before 24 February 2017.

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Twenty First Century Management Services accepts resignation of director
Feb 16,2017

Twenty First Century Management Services announced that the Board of Directors of the Company at its meeting held on14 February 2017 has accepted the resignation of Independent Directors, Sita Sunil from the Board.

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FY18 Steel Outlook: Increased Government Spending will be the Key
Feb 16,2017

India Ratings and Research (Ind-Ra) maintains a negative outlook on the steel sector for FY18 as the agency believes that the sector will continue to face operational and financial challenges during the year. Profitability and cash flow are unlikely to improve significantly in FY18 due to continued muted demand, limited pricing power due to global overcapacity, and significant increase in cost of inputs. The agency has also maintained a Negative Outlook on its rated steel entities for FY18 in view of their high indebtedness. Some of the rated steel producers require significant deleveraging and cash flow generation to maintain their ratings.

Ind-Ra believes demand growth will remain muted at 4%-5% during FY18, and is likely to be driven by demand growth from key end-user industries such as constructions, capital goods and consumer durables. Increased government spending due to budget push on infrastructure and housing would support demand from the construction sector. Increase in demand for consumer durables is likely to be supported by the expected growth in consumption following better monsoon, increase in salaries under 7th pay commission and lower interest rate. However, the recent planned demonetisation measures to curb black money are likely to limit the growth in the real estate sector consequently impacting the demand for steel in real estate in FY18; the agency notes that the steel demand growth for FY17 is likely to be 3%-3.5% and in line with the 3.3% yoy during April-December 2016.

Ind-Ra expects that the capacity utilisation for FY18 will remain low at around 75%. Capacity of around 6.0MT- 6.5MT is likely to be added in FY18 following the expected addition of around 9MT - 10MT during FY17. However, production is expected to grow only by 8MT - 10MT per year in FY17 and FY18. Low capacity utilisation is likely to limit the ability of steel producers to pass on the input cost increases, and also the improvement in profit margin during FY18.

Ind-Ra expects the government of India (GoI) to extend anti-dumping duty (ADD) on steel products beyond February 2017. Profitability of domestic steel industry got a respite during FY17 after the imposition of Minimum Import Price (MIP) by GoI in February 2016. However, the significant increase in inputs costs since then has again increased international as well as domestic prices very close to the levels envisaged under ADD, and any further increase is likely to make the protection infructuous. But with likely correction in steel price in 4QFY17 and early FY18 due to softening of input prices regulatory support becomes crucial for the domestic industry.

The profitability of domestic steel producer is likely to improve from the FY16 levels, but not high enough to significantly improve the liquidity. Cost cutting, significant improvement in efficiencies and improvement in the capacity utilisation are likely strategies to improve interest servicing. Many steel players may need to refinance debt to avoid default.

OUTLOOK SENSITIVITIES

A stable sector outlook could result from a significant recovery in the steel demand on the back of increased infrastructure spending by GoI. Improvement in domestic steel prices and/or stabilisation or decline in the input prices could improve profitability and cash flows leading to better debt service coverage that could change the outlook to stable. A better sector outlook resulting in a significant improvement in profitability and credit profile would result in a Stable Rating Outlook.

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Petron Engineering Construction announces resignation of director
Feb 16,2017

Petron Engineering Construction announced that Sudhir Kumar Jain, Non-Executive (Independent) Director has resigned from the Board of the Company w.e.f. the closing hours of 10 February 2017.

His resignation was accepted and taken on record by the Board of Directors at its meeting held on 14 February 2017.

With this, the strength of the Board of Directors has reduced from Five Directors to Four Directors.

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Board of Salona Cotspin approves voluntary delisting from Calcutta Stock Exchange
Feb 16,2017

Salona Cotspin announced that the Board of Directors of the Company at its meeting held on 13 February 2017, has approved voluntary delisting of securities from The Calcutta Stock Exchange Association Limited in accordance with the Delisting Regulations, considering the insignificant volume of trading on Calcutta Stock Exchange and as a part of its saving in administrative cost, additional compliance requirements etc. However the securities of the Company shall continue to remain listed on NSE and trade in BSE - Indonext Segment of Bombay Stock Exchange and are having nationwide trading terminal as per Delisting Regulations.

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