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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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Jammu & Kashmir Bank to hold board meeting
Mar 16,2017

Jammu & Kashmir Bank will hold a meeting of the Board of Directors of the Company on 20 March 2017, to consider and approve the allotment of 3,65,55,051 equity shares of Re. 1/- each fully paid-up to the J&K Govt. on a preferential basis at the issue price of Rs. 68.39 per equity share (including a premium of Rs. 67.39 per equity share) aggregating to an amount of Rs. 249,99,99,938.

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RCL Retail to hold board meeting
Mar 16,2017

RCL Retail will hold a meeting of the Board of Directors of the Company on 21 March 2017, to consider the appointment of company secretary.

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Hindustan Zinc to hold board meeting
Mar 16,2017

Hindustan Zinc will hold a meeting of the Board of Directors of the Company on 20 March 2017, to consider and declare second interim dividend

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HCL Technologies to hold board meeting
Mar 16,2017

HCL Technologies will hold a meeting of the Board of Directors of the Company on 20 March 2017, to consider, a proposal for Buyback of the equity shares of the Company.

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Sai Moh Auto Links to hold board meeting
Mar 16,2017

Sai Moh Auto Links will hold a meeting of the Board of Directors of the Company on 23 March 2017.

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More than 69 Thousand Women Covered Under Nai Roshni Scheme Till 31st January During Current Financial Year
Mar 16,2017

The Ministry of Minority Affairs is implementing three specific schemes for the welfare of Minority women under the n++Nai - Roshnin++ for Leadership Development of Minority Women, specially for development of women belonging to notified minority communities namely Muslims, Christians, Sikhs, Buddhists, Parsis and Jains, Rs. 14.13 Crore have been released and 69 thousand 150 women have been covered till 31st January during current financial year, Rs. 14.81 crore were released and 58 thousand 725 women were covered in 2015-16, while Rs. 13.78 Crore were released and 71 thousand 75 women were covered in 2014-16. The aim of the scheme is to empower and instill confidence in women by providing knowledge, tool and techniques for interacting with Government system and others at all levels. The scheme is implemented through selected Non-Governmental Organizations (NGOs) all over the country.

Begum Hazrat Mahal National Scholarship for Meritorious Girls belonging to minorities is implemented through Maulana Azad Education Foundation. Under the scheme Rs. 57.60 Crore were released and 48 thousand girls were covered in 2015-16, while Rs. 54.51 Crore were released and 45 thousand 426 girls were covered in 2014-15.

Mahila Samridhi Yojana is implemented through National Minorities Development & Finance Corporation (NMDFC) wherein skill development training is imparted to group of women in women friendly trades. Training period is of maximum six months and raw material cost of upto Rs.1,500/- per trainee and stipend @ Rs.1000/- per trainee is provided. During the period of training, the women formed into Self Help Group, followed by infusion of micro-credit maximum upto Rs.1.00 lacs per member for the purpose of using the skill developed during the training, for income generation activities.

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Outcome of board meeting of SRG Housing Finance
Mar 16,2017

SRG Housing Finance announced the Board of Directors of the Company at its meeting held on 16 March 2017 has approved the following -

Allotment of 16,87,300 equity shares of Rs. 10/- each at an issue price of Rs. 90/- each aggregating to Rs. 15,18,57,000/- on preferential basis to non-promoters pursuant to approval of members of the Company obtained through postal ballot on 14 March 2017.

Sanction of Credit Facilities of Rs. 25 crore by LIC Housing Finance. The Board approved terms and condition and authorized officers for signing of documents.

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Sakthi Finance fixes record date for interim dividend on preference shares
Mar 16,2017

Sakthi Finance has fixed 27 March 2017 as record date for payment of interim dividend of 10% on 10% Redeemable Cumulative Preference Shares of Rs 100 each (unlisted).

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Engineers India fixes record date for interim dividend
Mar 16,2017

Engineers India has fixed 24 March 2017 as record date for payment of interim dividend for FY 2017. The dividend payment date is 29 March 2017.

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Artificial Intelligence is the need of the hour: ASSOCHAM-PwC study
Mar 16,2017

Effectiveness of Artificial Intelligence (AI), machine learning, robotics and cognitive automation in direct proportion bestow rise in the quality and quantity of training data that the systems are exposed to, the conditions are ripe for India to emerge as a leader in AI, said an ASSOCHAM-PwC paper.

India is already on the path of a digital revolution and the next step is utilising the big data generated to take intelligent decisions. This requires close collaboration between academia, the private sector and public sector in order to understand problems holistically and solve them, , the ASSOCHAM-PwC joint study on Artificial Intelligence and Robotics - 2017 noted.

AI augmented manufacturing operations can employ more reliable demand forecasting, a flexible and responsive supply chain, quicker changes in operations, and more accurate scheduling and inventory optimisation. Other benefits involve creation of smarter, quicker and environmentally sound processes. This can lead to increased productivity and quality, lower costs and a more robust health and safety framework.

The application of AI in the field of defence and security includes protection of infrastructure such as airports, power plants and economic sectors that are vulnerable to attacks, detecting anomalous behaviour in individuals, and using distributed sensors and pattern recognition to predict infrastructure disruptions through natural/man-made causes, adds the study.

The security games framework is based on computational game theory, combined with elements of human behaviour modelling. Given the limited security resources and different high value targets, game-based decisions provide a randomised collection or patrolling schedule based on weights of targets and intelligent reactions of adversaries to security postures.

AI shows remarkable potential in aiding control and remedial actions in the aftermath of environmental and man-made disasters. It can assist in optimising mobile networks and smart bandwidth allocation to ensure network service continuity in the midst of catastrophic events that are usually followed by a spike in communication and jammed networks.

Unmanned drones and satellite feeds combined with image processing and recognition can be used in infrastructure damage assessments and predictions based on structural stability and traffic congestion avoidance through adaptive routing while equipping and deploying disaster management teams. Opportunities for AI intervention also reside in processing social media feeds to gauge location-specific urgency and send targeted alerts to minimise loss of life and property, pointed the study.

A key area of AI intervention in logistical operations involves adaptive scheduling of deliveries and routing of vehicles. Advanced logistics and supply chains are being created using expert decision systems. Products can be transported more efficiently through vision-based driver assist and automated/robotic systems. This has made transportation less susceptible to disruptions caused by weather, traffic and unnatural events.

Some of the major areas of application of AI in the banking and financial services sector include early detection of financial risk and systemic failures, and automation to reduce malicious intent in financial systems, such as market manipulation, fraud, anomalous trading and reduction in market volatility and trading costs.

AI can improve the efficiency of operations in the travel and transportation sector by bringing improved safety through structural health monitoring and infrastructure asset management that can pay dividends in terms of reduced cost of repairs and reconstruction and real-time route information, thereby reducing energy usage and emissions.

Agriculture is another sector that can greatly benefit from intelligent solutions by using smarter production, processing, storage, distribution and consumption mechanisms. AI solutions can also help provide site-specific and timely data about crops to enable application of appropriate inputs such as fertilisers and chemicals, highlighted joint study.

Consumer goods and services was one of the initial areas of AI adoption in India and currently accounts for a significant share of private sector application. To enable consumers to find better products at low prices, machine learning algorithms are being deployed for better matching of supply with consumer demand.

Efficient usage of bandwidth and storage, improved filtering, web searches and language translation are some of the benefits of employing AI systems in the communication and social media sector. AI can enhance scientific research and experimentation by assisting scientists and engineers in reading publications and patents, generating hypotheses and testing them through the usage of robotic systems.

Large parts of the country experience a dearth of academicians and teachers when it comes to making education effective for students across a gradient of social and cognitive abilities. AI solutions can meaningfully intervene by means of adaptive tutoring based on the receptiveness of students and accurate gauging of development of students complemented by in-person classroom learning.

Evidence-based treatment and medication require a level of precision that helps patients develop confidence and trust in their doctorsn++an area where mere manual experience and judgment may be supplemented with AI.

With the vast volume of information-processing capabilities required for fields such as bioinformatics, using AI-based algorithms and solutions is inevitable. AI application in healthcare, medicine and biotechnology includes supporting systems to identify genetic risks from large-scale genomic studies, predicting safety and efficacy of newly launched drugs, providing decision support for medical assessments and prescriptions and tailoring drug administration to the individual patient.

Some of the areas where AI can improve legal processes include improved discovery and analysis based on law case history and formulation of legal arguments based on identification of relevant evidence.

Cognitive technologies are being deployed by firms to largely automate the task of going through stacks of documents to identify key terms, which has until now been a time-consuming manual process. NLP technology reads and understands key points in the documents. Machine-learning technology makes it possible to train the system on a set of sample documents so that it learns how to identify and extract information in an automated manner.

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Ashoka Buildcon jumps as subsidiary emerges as lowest bidder for road project
Mar 16,2017

The announcement was made during market hours today, 16 March 2017.

Meanwhile, the S&P BSE Sensex was up 187.74 points, or 0.64%, at 29,585.85

On the BSE, 1.29 lakh shares were traded on the counter so far as against the average daily volumes of 35,031 shares in the past one quarter. The stock hit a high of Rs 199.65 in intraday trade so far, which is 52-week high for the counter. The stock had hit a low of Rs 185.25 so far during the day. The stock had hit a 52-week low of Rs 111 on 7 April 2016.

The mid-cap company has equity capital of Rs 93.57 crore. Face value per share is Rs 5.

Ashoka Buildcon said that the companys subsidiary Ashoka Concessions (ACL) had submitted its bid to National Highways Authority of India (NHAI) for the project involving six laning from Ranastalam to Anandpuram (Visakhapatnam) in Andhra Pradesh under NHDP Phase - V (Package II) on Hybrid Annuity Mode Project (Project). ACL has emerged as the lowest bidder at the financial bid opening meeting, Ashoka Buildcon said. The bid project cost quoted by ACL is Rs 1187.10 crore, the company said.

Ashoka Buildcons net profit rose 114.68% to Rs 42.70 crore on 17.2% rise in net sales to Rs 517.74 crore in Q3 December 2016 over Q3 December 2015.

Ashoka Buildcon is a leading highway concessionaire and engineering, procurement and construction (EPC) company.

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NMDC drops ex-dividend
Mar 16,2017

Meanwhile, the S&P BSE Sensex was up 192.25 points or 0.65% at 29,590.36

On the BSE, 5.01 lakh shares were traded on the counter so far as against the average daily volumes of 3.01 lakh shares in the past one quarter. The stock had hit a high of Rs 139.05 and a low of Rs 136.55 so far during the day. The stock had hit a 52-week high of Rs 152.50 on 2 March 2017 and a 52-week low of Rs 85.30 on 2 June 2016.

The large-cap company has equity capital of Rs 316.39 crore. Face value per share is Re 1.

Before turning ex-dividend, the NMDC stock offered a dividend yield of 2.94% based on the closing price of Rs 140.75 yesterday, 15 March 2017.

NMDCs net profit rose 41.33% to Rs 595.16 crore on 64.61% growth in net sales to Rs 2497.86 crore in Q3 December 2016 over Q3 December 2015.

NMDC is Indias largest public sector iron ore producer. As per the shareholding pattern, Government of India (GoI) holds 74.94% stake in NMDC as on 31 December 2016.

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Government to Amend EPF Scheme, 1952 to Enable EPF Members to Withdraw upto 90 Percent Fund for Purchase of House
Mar 16,2017

The Government has taken a decision for modification in the Employees Provident Funds (EPF) Scheme, 1952 to add a new paragraph 68 BD under which a member of Employees Provident Fund (EPF), being a member of a co-operative society or a housing society having at least 10 members of EPF, can withdraw upto 90 per cent from the Fund for purchase of dwelling house/flat or construction of dwelling house/acquisition of site. Monthly installments for repayments of any outstanding payments or interest may also be paid from the amount standing to the credit of the member, to the Government/housing agency/primary lending agency or banks concerned.

The total number of Employees Provident Fund (EPF) member accounts as on 31 March 2016, as per Annual Report for 2015-16, is 17.14 crore. On an average, contributions have been received in respect of 3.76 crore members during the year 2015-16. The withdrawal facility from the Provident Fund (PF) account under the Scheme will be available to only those PF members who fulfill the conditions prescribed.

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Balkrishna Industries scales record high after huge bulk deal
Mar 16,2017

Meanwhile, the S&P BSE Sensex was up 152.14 points, 0.52% to 29,550.25

Bulk deal boosted volume on the scrip. On the BSE, 2.40 crore shares were traded on the counter so far as against the average daily volumes of 4.06 lakh shares in the past one quarter. The stock hit a high of Rs 1,449.55 in intraday trade so far, which is record high for the counter. The stock had hit a low of Rs 1,377.75 so far during the day. The stock had hit a 52-week low of Rs 574.10 on 29 March 2016.

The large-cap company has equity capital of Rs 19.33 crore. Face value per share is Rs 2.

Balkrishna Industries net profit rose 94.2% to Rs 185.69 crore on 25.7% increase in net sales to Rs 864.69 crore in Q3 December 2016 over Q3 December 2015.

Balkrishna Industries is a leading manufacturer in the off-highway tire market. The company has focused on specialist segments such as agricultural, construction and industrial vehicles as well as earthmoving, port and mining, ATV, and gardening applications.

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Rs. 31734 Crore Collected as Construction Workers Welfare Cess till 31st December 2016
Mar 16,2017

Rs. 31733.76 crore have been collected as Construction Workers Welfare Cess by the States/UTs upto 31.12.2016, at the rate of 1% of the cost of construction. Out of it Rs. 6872.51 crore has been spent.

The Building and Other Construction Workers Welfare Cess Act, 1996, provides for levy and collection of cess at such rate not exceeding two per cent but not less than one per cent of the cost of construction as the Central Government may notify. The cess has been levied and being collected at the rate of 1% of the cost of construction as notified by the Central Government in the Official Gazette.

The cess at the above rate is collected by the State Governments/ Union Territory Administrations and utilized for the welfare of the building and other construction workers by the State Building and Other Construction Workers Welfare Boards constituted by the State Governments/Union Territory Administrations under the Building and Other Construction Workers (Regulation of Employment and Conditions of Service) Act, 1996.

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