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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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ITPO Signs MoU 2017-18 With DoC
Jul 12,2017

A Memorandum of Understanding (MoU) 2017-18 between India Trade Promotion Organisation (ITPO) and Department of Commerce (DoC), Government of India was signed by Shri L.C. Goyal, CMD, India Trade Promotion Organisation and Smt. Rita Teaotia, Secretary, Commerce, Govt. of India on 07 July 2017.

On this occasion, Shri L.C. Goyal, CMD, ITPO mentioned that, for the year 2016-17, ITPO is expecting to achieve n++Excellentn++ rating as per the self evaluation of MoU targets in which against the MoU target of Rs. 250 crore, the turnover is expected to be Rs. 263 crore. For the year 2017-18, the Excellent financial target for Revenue from operations (Gross Sales) has been fixed at Rs. 228 crore. He observed that, in view of the Redevelopment Project (IECC) at ITPO, achieving various Financial/ Non-Financial targets this year will be difficult. ITPO will, however make all efforts to achieve n++Excellentn++ rating as per the targets given by DPE for the year 2017-18 and ensure delivery of better services to all the stakeholders.

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Tata Motors announces global wholesale figures
Jul 12,2017

The Tata Motors Group global wholesales in June 2017, including Jaguar Land Rover, were at 90,966 nos., lower by 2%, over June 2016.

Global wholesales of all Tata Motors commercial vehicles and Tata Daewoo range in June 2017 were at 30,241 nos., lower by 8%, over June 2016. Global wholesales of all passenger vehicles in June 2017 were at 60,725 nos., higher by 1%, compared to June 2016.

Global wholesales for Jaguar Land Rover were 49,422 vehicles. Jaguar wholesales for the month were 12,463 vehicles, while Land Roverwholesales for the month were 36,959 vehicles.

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Usher Agro announces resignation of director
Jul 12,2017

Usher Agro announced that Vijay Ranchan, Non Executive Independent Director has resigned from the Board of Directors and respective committees thereon of the company with effect from the 11 July 2017.

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Golkonda Aluminium Extrusions announces resignation of director
Jul 12,2017

Golkonda Aluminium Extrusions announced the resignation of Ashish Kumar Gupta, Independent Director, form directorship of the Company.

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Poddar Housing & Development to pay dividend
Jul 12,2017

Poddar Housing & Development announced that dividend shall be paid on or after 24 August 2017, subject to approval of shareholders in the AGM.

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Chambal Fertilisers & Chemicals completes sale of ship Ratna Shalini
Jul 12,2017

Chambal Fertilisers & Chemicals has delivered ship - Ratna Shalini to Rialto Navigation S.A., Liberia (Buyer) on 11 July 2017.

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Regal Entertainment & Consultants announces resignation of directors
Jul 12,2017

Regal Entertainment & Consultants announced the resignation of Dinesh Gupta from post of MD and Company Secretary & Compliance Officer and Satish Kusumbwal from post of Joint MD and CFO.

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Future Lifestyle Fashions gets revision in rating for bank facilities
Jul 12,2017

Future Lifestyle Fashions announced that CARE has revised the ratings for bank facilities of the Company as under -

Upgraded the credit rating from CARE A+ to CARE AA- ; Stable for long term bank facilities aggregating to Rs 1170.20 crore.

Reaffirmed the credit rating CARE A1+ for short term bank facilities aggregating to Rs 875 crore.

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MOU signed between Department of Defence Production and MIDHANI
Jul 12,2017

Mishra Dhatu Nigam Limited (MIDHANI), a miniratna, Schedule B Defence Public Sector Undertaking under the Department of Defence Production, Ministry of Defence signed Memorandum of Understanding (MoU) for the financial year 2017-18 with the Ministry. The annual MoU was signed by Secretary (Defence Production) Shri Ashok Kumar Gupta on behalf of the Ministry and Chairman and Managing Director, MIDHANI Dr. D K Likhi.

The MoU outlines targets and various performance parameters for the company. The revenue from operations as per the MoU has been targeted at ₹ 780 crore which is significant improvement over the previous years.

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Cabinet approves Development of Four Laning of Solapur-Bijapur Section of New NH-52 in Maharashtra and Karnataka
Jul 12,2017

The Cabinet Committee on Economic Affairs chaired by the Prime Minister Shri Narendra Modi has given its approval for 4 Laning of Solapur-Bijapur Section of New NH-52 (formerly NH-13) in Maharashtra and Karnataka. The development of 4 Laning of about 110 km. is estimated to cost approximately Rs.1889 crore including the cost of land acquisition and pre-construction activities.

Impact

At present, the existing road is two- lane and passes through congested towns of Solapur, Takli and Nandani in Maharashtra and Zalki, Horti and Bijapur in Karnataka. It connects Southern India with Northern India and its development will serve as an alternative route to North South Corridor of the National Highways Development Programme. The development to four- lane of this road with bypasses at Solapur, Bijapur and construction of six flyovers would greatly reduce travel time and Vehicle Operating Costs as well as help in expediting the improvement of infrastructure in Maharashtra and Karnataka states. This road is part of the high-density traffic corridor Banglore-Chitradurga-Bijapur-Solapur-Aurangabad-Dhule-lndore-Gwalior.

The provision for two by-passes will ensure decongestion of the urban areas of Solapur and Bijapur. Similarly, the six flyovers would facilitate fast movement of traffic in Solapur, Mandrup, Zalki and Bijapur towns while simultaneously decongesting the areas. The two trucks lay- bys will facilitate smooth movement of freight traffic. The truck drivers would also benefit from the amenities in the two rest areas being developed. On both sides, provision for service roads in 14 km of the project stretch, slip roads in about 40 km and bus shelters at 24 locations will benefit safe, comfortable and smooth movement of long distance commercial traffic as well as movement of local traffic in inhabited/urbanized areas. Tourists will also get benefit of better connectivity to nearby important tourist places of Bijapur, Hampi and Chitradurga.

The project would also increase employment potential for local labourers from project activities. It has been estimated that a total number of 4076 mandays are required for construction of one kilometer of highway. As such, employment potential of 448360 (approx.) mandays will be generated locally during the construction period of this stretch. Consequent self-employment due to improved traffic conditions would be in addition to the above.

Enhanced Connectivity

The important tourist places of Bijapur, Hampi near Hospet and Chitradurga will get enhanced connectivity, while Solapur being a Textile centre will also benefit from the increased economic opportunities. The existing traffic on this stretch is about 20000 PCUs. Keeping in view the expected traffic growth in the near future, the expansion to four Lanes is a very timely step taken by the Government of India.

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Cabinet approves SASEC Road Connectivity Investment Program - Tranche 2
Jul 12,2017

The Cabinet Committee on Economic Affairs chaired by the Prime Minister Shri Narendra Modi has given its approval for upgradation and widening of 65 kms of Imphal-Moreh Section of NH-39 in Manipur at a cost of Rs. 1630.29 crores.

Manipur being a landlocked state with almost 90% of the area under difficult terrain presently has only road transport as a means of mass transport system within the state. Hence development of the road infrastructure is of paramount importance to improve connectivity and progress of the State and to ensure that the administrative set up reaches the isolated and remote habitats. The project will improve connectivity between Imphal with the eastern part of the state. Based on the existing and projected traffic requirements the NH-39 will be widened to 4 lane between Lilong village and Wanginj village, while the stretch between Wanginj village to Khongkhang will be upgraded to 2 lane with paved shoulder.

The project is being developed with ADBs loan assistance under the South Asian Sub-Regional Economic Cooperation (SASEC) Road Connectivity Investment Program which aims at upgradation of road infrastructure in Bangladesh, Bhutan, Nepal and India (BBIN) in order to improve the regional connectivity among BBIN nations. The project corridor is also a part of the Asian Highway No. 01 (AH01) and acts as Indias Gateway to the East. Thus trade, commerce and tourism in the region will get a boost.

Background

For fulfilling Indias Look East Policy and to promote and enhance trade link with South East Asia, the Government of India has notified an Integrated Custom Post (ICP) at Moreh. The development of this project is essential in order to support the increased traffic volume due to coming up of ICP. The workers of Manipur who specialize in creating bamboo and wood based handicraft items and uniquely designed hand woven textile items will get a new market among the Myanmars customers. Small scale industries such as those making farm implements and tools, stationery, plastic extrusion items, carpentry units, could also develop markets beyond the border.

Besides socio-economic development the project will also lead to reduction in average travel time along the project road by nearly 40%. In addition, the new features of road safety namely vehicular underpasses, crash barriers, road signs & markings, service roads for segregation of slow and high moving traffic, truck lay-by, bus-bays etc. will help in greatly reducing accidents. Improved highway and lesser travel time will lead to savings in terms of fuel cost.

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Cabinet approves enhancement of the age of superannuation of Medical Officers of Central Armed Police Forces and Assam Rifles
Jul 12,2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its ex-post facto approval for enhancement of the age of superannuation in respect of

(i) General Duty Medical Officers of Central Armed Police Forces and Assam Rifles from 60 to 65 years and

(ii) Specialist Medical Officers of Central Armed Police Forces and Assam Rifles of the Ministry of Home Affairs from 60 to 65 years.

It would help in retention of officers in Specialist and General Duty Medical Cadre and thereby help in better patient care, proper academic activities in Medical colleges as also in effective implementation of National Health Programmes for delivery of health care services.

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Dishman Pharmaceuticals and Chemicals provides update on scheme of merger
Jul 12,2017

Dishman Pharmaceuticals and Chemicals announced that pursuant to merger, the Company has been merged into CAIL and subsequently, in terms of the said Scheme, the name of Transferee Company i.e. Carbogen Amcis (India) has been changed to Dishman Carbogen Amcis (DCAL) w.e.f. 27 March, 2017.

Pursuant to the merger of DPCL into DCAL, securities of DPCL have been suspended by both BSE and NSE w.e.f. 30 May 2017 due to procedural reasons. The Company is in the process of listing the merged entity, DCAL on BSE and NSE.

Since the merged entity, DCAL is currently unlisted the Company is unable to file quarterly compliances as per SEBI (LODR) Regulations, 2015 with the Stock Exchanges for the quarter ended 30 June 2017.

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ONGC, HPCL and MRPL gain on merger buzz
Jul 12,2017

ONGC (up 1.59% at Rs 162.85), HPCL (up 5% at Rs 359.05) and Mangalore Refinery & Petrochemicals (MRPL) (up 3.67% at Rs 127.20) edged higher.

Meanwhile, the S&P BSE Sensex was up 36.04 points or 0.11% at 37,783.13.

Oil Minister Dharmendra Pradhan was quoted by media agencies as saying that the merger between ONGC and HPCL will be completed in the current financial year (FY 2018).

ONGC and HPCL both hold stakes in MRPL. ONGC held 71.63% stake and HPCL owned 16.96% end March 2017.

There was a buzz in media from earlier this month that the government was looking to sell 51% stake in HPCL to ONGC for over Rs 26000 crore. After the Cabinet nod, the government could move to appoint valuation and transaction advisers while ONGC too may decide to hire merchant bankers to arrive at the valuation of government shareholding, reports suggested.

Government of India (GoI) held 68.07% stake in ONGC and 51.11% in HPCL end March 2017.

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Cabinet approves establishment of the IRRI, ISARC at campus of NSRTC in Varanasi
Jul 12,2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the establishment of the International Rice Research Institute (IRRI), South Asia Regional Center (ISARC) at campus of National Seed Research and Training Center (NSRTC) in Varanasi.

Under the proposal, a Centre of Excellence in Rice Value Addition (CERVA) will be set up in Varanasi. This will include a modern and sophisticated laboratory with capacity to determine quality and status of heavy metals in grain and straw. The Centre will also undertake capacity building exercises for stakeholders across the rice value chain.

This Center will be the first international Center in the eastern India and it will play a major role in harnessing and sustaining rice production in the region. It is expected to be a boon for food production and skill development in the eastern India and similar ecologies in other South Asian and African countries.

Benefits from ISARC

The Centre will help in utilizing the rich biodiversity of India to develop special rice varieties. This will help India to achieve higher per hectare yields and improved nutritional contents. Indias food and nutritional security issues will also be addressed. The Centre will support in adopting value chain based production system in the country. This will reduce wastage, add value and generate higher income for the farmers. The farmers in Eastern India will benefit in particular, besides those in South Asian and African countries.

Management of ISARC

ISARC will operate under the governance of the IRRI Board of Trustees who will appoint an appropriate IRRI staff member as Director. A Coordination Committee will be headed by Director General, IRRI as Chair and Secretary, Government of India, Department of Agriculture, Cooperation and Farmers Welfare (DACFW) as Co-Chair. The other members of Coordination Committee are Deputy Director General (Crop Sciences), ICAR; Director, NSRTC; IRRI representative in India, representative of Government of UP and representatives of Governments of Nepal & Bangladesh and Private Sector.

For setting up of the Centre, A Memorandum of Agreement, will be signed between DAC&FW and IRRI, Philippines. The Department of DAC&FW will provide physical space for laboratories, offices, training classes, etc. with associated infrastructure and land at NSRTC, Varanasi. The Centre will be commissioned within six months.

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