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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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Sunteck Realty plans sub-division of equity shares
May 24,2017

Sunteck Realty plans to undertake sub-division of equity shares of the Company. The Board of Directors will consider the proposal for the same on 08 June 2017.

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Employment prospects in Indias IT Sector: Robust Outlook
May 24,2017

It is asserted that the employment potential and prospects in the IT and related sectors are robust and promising. Some of the reports to the contrary in the media space are highly exaggerated and unfounded.

Indian IT sector employment prospects, both in the near and long-term are expected to be broadly positive and encouraging for the future. India IT companies currently serve two thirds of the fortune 500 companies and have created 40 lakhs direct jobs in India

To present an objective and realistic potential of the employment scenario, the Ministry apart from its own feedback, has taken note of projections by NASSCOM, the principal Industry body, as well as of other well-known independent organizations and consultants working in this field.

NASSCOM has confirmed that the industry continues to be a net hirer and reports that:

n++ 2.5-3 million new jobs will be created by 2025.

n++ In FY 2017, the industry added 1,70,000 new jobs. NASSCOM has already publicly contradicted reports of large scale layoff

n++ IT industry added 600,000 in last three years and today, boasts of a total employee base of 3.9 million.

TeamLease analysis for 2017-18 reports that IT sector hiring sentiments is positive and is up by 4% in October 2016 to March 2017, compared to the previous six-month period.

The TeamLease analyses also indicates that e-commerce and technology startup sector hiring sentiments has increased by 2%, with projected 14.94% job growth. (This is despite recent challenges in these sectors.)

Recruitment and staffing firm Randstad projects (in December 2016), a cumulative growth rate of 9% in the IT / ITeS job market.

The Indian technology startup sector will offer strong and growing employment prospects to Indian IT professionals. According to NASSCOM, in 2016, Indian technology startups employed 95,000 to 100,000 IT professionals, across more than 4,750 startups (including ecommerce and hyperlocals).

Indias domestic IT market offers strong prospects for industry growth (consequently employment), even if global markets were to face challenges.

n++ Indias total software product market grew at 9.5% in FY2017 to reach USD 7 billion. (Exports grew 7.8% to reach USD 2.3 billion.) In comparison, the domestic market grew much faster, at 10.4%, reaching USD 4.8 billion.

n++ Indias overall domestic IT/BPM sector is expected to grow at 8.5% from USD 35 billion in 2016 to an anticipated USD 37 billion in 2017.

Other shining sectors of employment in the overall of IT Industry under Digital India, include, the following:

n++ CSC has generated 10lakhs local level employment by way of village level entrepreneurs.

n++ Total employment in IT/ITES Industry employees is 4 millions as direct employment and 1.3 Crores as indirect employment.

n++ State-owned Software Technology Park of India (STPI) has generated 50% of the employment generated by the Indian IT/ITES industry. It is to be noted that out of 56 STPI centres, 48 are located in tier-ii and tier-iii location, benefitting the qualified youth of such locations.

n++ To further promote the job creation, MeitY has come up with India BPO promotion scheme with an aim to provide employment to 1.45 lakh persons, mostly in the small towns. More than 48 thousand BPO seats in 2017-18 year. It is a matter of assurance that BPO through tendering has been finalized and is in its process of being set up in towns like Imphal, Guwahati, Siliguri, Patna, Muzaffarpur, Samastipur, Gazipur, Unnao, Amravati etc

n++ To encourage Northeastern part of India, MeitY has a separate Northeast BPO promotion scheme with 5000 seats and having employment potential of 15000 persons. This would go a long way to help the employment scene in northeast region of India.

n++ In Mobile phone manufacturing, 72 new mobile manufacturing units started only in last 30 months. It has created 1 lakh direct and 3 lakh indirect jobs in India. All major brands like Apple, Samsung etc. in the ICT sector are manufacturing or ready to manufacture in India.

The emerging and promising digital economy in the country is going create a very powerful potential for job creations.

The Govt is encouraging greater stress on cyber security and this will lead to greater focus on innovation, research and thus significant potential for job creation.

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Board of Tata Investment Corporation approves equity participation in JV
May 24,2017

The Board of Directors of Tata Investment Corporation at its meeting held on 23 May 2017 have approved an equity participation of up to one per cent into a joint venture between Voltas, Koc Holdings A.S. (holding company of Arcelik A.S.), Ardutch B. V ( a wholly owned subsidiary of Arcelik A.S.) and Tata Investment Corporation. The proposed JVC to be incorporated would be engaged in the business of refrigerators, washing machines, microwaves and other white goods/ domestic appliances in India.

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Redington India provides update on subsidiary - Redington Gulf FZE
May 24,2017

Redington India announced that Redington Gulf FZE (RGF), a step down subsidiary of the Company, has acquired additional 10% stake (As of 31 March 2017, RGF holds 80% shares of Linkplus) from shareholder of Linkplus for a consideration of USD 0.99 million. With this the total stake of RGF in Link plus is 90%.

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Tata Motors may drop after posting weak Q4 results
May 24,2017

Tata Motors consolidated net profit fell 16.79% to Rs 4336 crore on 2.86% fall in revenues to Rs 77272 crore in Q4 March 2017 over Q4 March 2016. The result was declared after market hours yesterday, 23 May 2017. Consolidated profit was lower due to translation impact from Pound to Indian Rupee.

Adani Ports & Special Economic Zone and Lupin will announce Q4 results today, 24 May 2017.

Karnataka Bank has entered into a distribution agreement to sell the mutual fund products of HDFC Capital Asset Management (HDFCAML). Mahabaleswara MS, Managing Director and Chief Executive Officer of Karnataka Bank said that investment in mutual funds will provide an opportunity to those customers who are uncomfortable in investing directly in stock markets. The announcement was made after market hours yesterday, 23 May 2017.

JB Chemicals & Pharmaceuticals net profit fell 16.6% to Rs 42.14 crore on 1.17% fall in total income to Rs 319.02 crore in Q4 March 2017 over Q4 March 2016. The result was declared after market hours yesterday, 23 May 2017.

Meanwhile, JB Chemicals & Pharmaceuticals board of directors has approved the buy-back of up to 12.50 lakh shares at Rs 400 per share for a total consideration not exceeding Rs 50 crore, through the tender offer route on a proportionate basis.

NCC reported 26.11% fall in net profit to Rs 63.71 crore on 13.54% rise in total income to Rs 2186.50 crore in Q4 March 2017 over Q4 March 2016. The result was declared after market hours yesterday, 23 May 2017. The result was declared after market hours yesterday, 23 May 2017.

Sunteck Realty announced that a meeting of the board of directors of the company will be held on 8 June 2017, to consider stock split. The announcement was made before market hours today, 24 May 2017.

Himatsingka Seides net profit rose 31.91% to Rs 43.57 crore on 55.67% rise in net total revenue to Rs 404.05 crore in Q4 March 2017 over Q4 March 2016. The result was declared after market hours yesterday, 23 May 2017.

Redington India said that Redington Gulf FZE (RGF), a step down subsidiary of the company acquired additional 10% stake from shareholder of Linkplus Bilgisayar Sistemleri Sanayi ve Ticaret A.S, Turkey (Linkplus) for a consideration of $0.99 million. With this the total stake of RGF in Link plus is 90%.

Redington India had earlier announced that Redington Gulf FZE (RGF), acquired 70% and subsequently 10% stake in Linkplus. The announcement was made after market hours yesterday, 23 May 2017.

Cupids net profit rose 7% to Rs 4.92 crore on 1% rise in total operating income to Rs 18.5 crore in Q4 March 2017 over Q4 March 2016. The announcement was made after market hours yesterday, 23 May 2017.

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JHS Svendgaard Laboratories allots 4.40 lakh equity shares
May 23,2017

JHS Svendgaard Laboratories has allotted 4.40 lakh equity shares on conversion of equivalent convertible warrants on 23 May 2017.

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Bombay Burmah Trading Corporation allots NCDs aggregating Rs 150 crore
May 23,2017

Bombay Burmah Trading Corporation has allotted 1500 secured, redeemable, Non Convertible Debentures of face value of Rs 10 lakh each aggregating Rs 150 crore on private placement basis on 23 May 2017.

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Voltas appoints director
May 23,2017

The Directors of Voltas have at the Board Meeting held on 23 May 2017, approved the appointment of Hemant Bhargava as Additional Director of the Company representing Life Insurance Corporation of India with effect from 23 May 2017.

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Board of Voltas approves proposal for JV with Arcelik
May 23,2017

The Board of Directors of Voltas at its meeting held on 23 May 2017 has approved a proposal to enter into joint venture arrangement with Arcelik A.S, a company incorporated in Istanbul, Turkey, for establishing a joint venture company, to tap the fast growing consumer durables market in India. The proposed JVC to be incorporated would be engaged in the business of refrigerators, washing machines, microwaves and other white goods/ domestic appliances in India.

The JVC will have an equity capital of USD 100 million, and Tata Investment Corporation (TICL) and Kon++ Holding (KOn++) will also hold 1% equity stake each, in the new Joint Venture.

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Outcome of board meeting of Frontier Informatics
May 23,2017

The Board of Directors of Frontier Informatics at its meeting held on 23 May 2017 transacted the following -

In the matter of Reduction of capital, the Benepose Reports as of 15th May, 2017, the record date, and detailed workings relating to allotment of shares in accordance with the Scheme for Reduction of Capital approved by Honble High Cort of Teleangana and Andhra Pradesh, are placed before the Board and the Board have approved the list of share holders, who will be issued with new shares as per the said scheme.

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Indo-Global Enterprises appoints company secretary
May 23,2017

Indo-Global Enterprises has appointed CS Khushboo, as a Company Secretary and Key Managerial Person and further as a Compliance Officer of the company at the Board Meeting held on 22 May 2017.

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Clariant Chemicals (India) to pay final dividend
May 23,2017

Clariant Chemicals (India) announced that Final Dividend, if approved at the ensuing Annual General Meeting, shall be paid on or after 17 August 2017.

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Outcome of board meeting of JHS Svendgaard Laboratories
May 23,2017

JHS Svendgaard Laboratories announced that the Board of Directors of the Company at its meeting held on 23 May 2017 has transacted the following -

Taken note of change in name of subsidiary company from JHS Svendgaard Dental Care to JHS Svendgaard Brands.

The Board also reviewed capital expenditure on capacity creation. The Company is investing Rs 30 crore in capital equipment(s) and is investing towards setting up additional manufacturing unit.

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Tube Investments of India allots 9000 equity shares
May 23,2017

Tube Investments of India has allotted 9000 equity shares under ESOP.

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Cerebra Integrated Technologies to start operations of its E-Waste recycling plant
May 23,2017

Cerebra Integrated Technologies announced that Karnataka State Pollution Control Board has issued its consent to the Company to start production for its E-Waste recycling plant setup on a 12 acre land at Narsapura Industrial Area, Old Madras Road; its operations will include dismantling and segregation of E-Waste for recovery of precious metals like Gold, Silver, Platinum, Palladium and Rhodium.

Further, the Company has received all the necessary approvals and will be commencing operations with immediate effect. This integrated E-Waste recovery facility will facilitate complete recovery of the E-Waste, Data Wiping and Destruction Services, Repair, Refurbishing and Re-Marketing Services as also full-fledged Asset management services.

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