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Future Enterprises standalone net profit rises 615.37% in the June 2016 quarter

Future Enterprises standalone net profit rises 615.37% in the June 2016 quarter

Sep 14,2016

Net profit of Future Enterprises rose 615.37% to Rs 315.48 crore in the quarter ended June 2016 as against Rs 44.10 crore during the previous quarter ended June 2015. Sales declined 67.64% to Rs 921.19 crore in the quarter ended June 2016 as against Rs 2846.84 crore during the previous quarter ended June 2015.

ParticularsQuarter Ended
n++Jun. 2016Jun. 2015% Var.
Sales921.192846.84-68
OPM %24.969.91-
PBDT295.07184.1360
PBT142.3249.92185
NP315.4844.10615

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Khaitan Electricals announces resignation of director
Sep 20,2016

Khaitan Electricals announced that Madan Gopal Todi has resigned as Independent Director of the Company with effect from 19 September 2016 due to medical ground and pre-occupation.

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Furnishing details on the data bank is compulsory for all MSMEs: Secy MSME
Sep 20,2016

Mr. K K Jalan, Secretary, Ministry of Micro, Small and Medium Enterprises (MSME), today urged the Micro, Small and Medium Enterprises (MSMEs) in the country to update the details of their enterprises on the MSME data bank. This, he said was mandatory the updated data would be used for evolving parameters for the growth of MSMEs in the country.

Mr. Jalan said that the government was also planning to identify 25-30 sub-sectors in MSMEs and focus on these sectors for raising productivity and enhancing the overall landscape of MSMEs.

Mr. Jalan said that there was a need to carry out academic work in the space to understand the challenges and issues of the sector. He suggested that FICCI should come out with knowledge papers focusing on the specific concerns of the sector.

Speaking about the financing aspect of the MSMEs, Mr. Jalan said that there was a need to carry out research in this area as it has been seen that SME credit by banks was going down. He suggested that for MSMEs, a dedicated financing institute could be established like private sector non-banking financial companies (NBFCs).

Mr. Jalan said that in the MSMEs, manufacturing has been the focus area but now was the time to look at MSME in a holistic perspective. MSMEs in services, training, retail and wholesale and ancillary industries of big companies, traditional set ups, should also be given due importance. He added that employment generation and import substitution should also be focused on.

Ms. Pannuda Boonpala, Director, ILO India, said that In India, the Governments efforts to support the MSME sector through initiatives such as Make in India or Start Up India reflect the importance of this sector to national development, and hold great promise. As part of its contribution to strengthening the MSME sector, the ILO in India has introduced programmes such as the Start and Improve Your Business (SIYB) to help set up micro- and small enterprises and to run and expand them successfully, and, for more established SMEs, the Sustaining Competitive and Responsible Enterprises or SCORE programme, which helps improve productivity, competitiveness and job quality of SMEs.

Ms. Boonpala said that about 10,000 persons have been trained in SIYB, with an average business start-up rate of about 55%, and a job creation rate of 2.4 jobs per enterprise, while beneficiaries of the SCORE programme, which has so far been implemented in 100 factories thanks to a network of 20 trainers, have reported improvements of 20% or more against key industry benchmarks such as process efficiency, reduction in defects, or on-time delivery. She added that the key objective for the coming years will now be to upscale these programmes and to ensure their sustainable implementation.

Highlighting the challenges for MSME sector, Mr. Sanjay Bhatia, President, FICCI-CMSME and Managing Director,

Hindustan Tin Works, said that to propel MSMEs there was a need to build an enabling environment for MSMEs. The Government was already working on a MSME Policy, but he suggested that the MSME Policy document must contain some provision for sector specific dedicated industrial estate/ clusters for MSMEs with the support from State Government. Also, micro enterprises should be exempted from all compliance, inspection and labour laws for certain period. A guide could be provided to them on the compliances that they need to adhere to in those years. In order to make MSMEs grow vertically, MSMEs should be facilitated with the tax benefits linked to direct employment generated by MSMEs and Start-up businesses. As per policy benefits, MSMEs adopting latest clean and green technologies across sectors should be incentivized by the government. The Government should look for a possible collaboration with institutions which can help MSMEs in their R&D activities.

Mr. Bhatia said that financial assistance should be provided to those units who have successfully adopted and are adopting Quality Standards (TQM), energy efficiency standards and environmental norms, etc. Going forward, units which complied with the latest systems and standards should be encouraged to participate in Government/PSU tenders by providing them the incentives such as EMD/ Security deposit exemptions.

In his concluding remarks Mr. R Narayan, Vice-President, FICCI-CMSME and Founder & CEO, Power2 SME, said that the IT had the power to propel MSME growth with the ability to extend revenue-making opportunities by selling products and services online. MSMEs could also utilize modern technology and the internet as the medium to reduce procurement costs and thus reduce overall cost of goods sold to improve profitability.

Dr. A Didar Singh, Secretary General, FICCI & FICCI-CMSME, said that the programme Make in India should focus on MSMEs as it is the sector which will generate employment and not the big industries where manpower was being replaced with technology. He added that the objective of the summit was to create awareness and understanding among the Indian MSMEs on the various schemes and initiatives being taken by the government and private institutions/organizations for the development of MSME sector.

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Cadila Healthcare gains after partnering with Takeda
Sep 20,2016

The announcement was made during market hours today, 20 September 2016.

Meanwhile, the BSE Sensex was down 95.27 points, or 0.33%, to 28,539.23.

On BSE, so far 92,989 shares were traded in the counter, compared with average daily volume of 1.08 lakh shares in the past one quarter. The stock hit a high of Rs 410.90 and a low of Rs 372.30 so far during the day. The stock hit a record high of Rs 454.40 on 23 October 2015. The stock hit a 52-week low of Rs 295.50 on 18 January 2016. The stock had outperformed the market over the past one month till 19 September 2016, gaining 3.92% compared with Sensexs 1.99% rise. The scrip had also outperformed the market in past one quarter, gaining 23.54% as against Sensexs 7.54% rise.

The large-cap company has equity capital of Rs 102.37 crore. Face value per share is Re 1.

Cadila Healthcare and Takeda Pharmaceutical Company (Takeda) announced a partnership to tackle chikungunya, an emerging infectious disease. The chikungunya virus is most often spread to people by Aedes aegypti and Aedes albopictus mosquitoes, the same vectors that spread dengue and zika. The broad-based agreement includes early stage development to the final commercialisation of the vaccine. There is currently no vaccine to prevent or medicine to treat chikungunya virus infection. Terms of the agreement are not disclosed, but it is expected that this partnership will boost access to medicines in the future through this novel partnership.

Chikungunya has been identified in over 60 countries in Asia, Africa, Europe and the Americas. After the bite of an infected mosquito, onset of illness occurs usually between 4 and 8 days but can range from 2 to 12 days. In some people, the joint pain may persist for months. People at risk for severe indications include newborns infected around the time of birth, older adults (≥65 years), and people with medical conditions such as high blood pressure, diabetes, or heart disease.

Since 2005, India, Indonesia, Maldives, Myanmar and Thailand have reported over 19 lakh cases and almost 13 lakh suspected cases of Chikungunya being recorded in the Caribbean islands, Latin American countries, and the United States of America till 2015.

On a consolidated basis, Cadila Healthcares net profit fell 22.6% to Rs 356.20 crore on 2.2% decline in net sales to Rs 2216.40 crore in Q1 June 2016 over Q1 June 2015.

Cadila Healthcare is a global pharmaceutical company that discovers, manufactures and markets a broad range of healthcare therapies.

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Fiem Industries gains on plans to raise funds
Sep 20,2016

The announcement was made after market hours yesterday, 19 September 2016.

Meanwhile, the S&P BSE Sensex was down 99.45 points or 0.35% at 28,535.58.

On BSE, so far 4,700 shares were traded in the counter as against average daily volume of 8,078 shares in the past one quarter. The stock hit a high of Rs 1,075 and a low of Rs 1,048 so far during the day. The stock had hit a record high of Rs 1,140 on 9 September 2016. The stock had hit a 52-week low of Rs 500 on 18 September 2015. The stock had underperformed the market over the past one month till 19 September 2016, falling 0.42% compared with Sensexs 1.99% rise. The scrip had, however, outperformed the market in past one quarter, gaining 23.29% as against Sensexs 7.54% rise.

The small-cap company has equity capital of Rs 11.96 crore. Face value per share is Rs 10.

Fiem Industries said that the fund raising committee of the board of directors at a meeting held yesterday, 19 September 2016 approved the allotment of 11.97 lakh equity shares of face value of 10 each to qualified institutional buyers at the issue price of Rs 1002 per share, aggregating to Rs 119.99 crore.

Fiem Industries net profit rose 20.4% to Rs 11.46 crore on 19.6% growth in net sales to Rs 241.53 crore in Q1 June 2016 over Q1 June 2015.

Fiem Industries is one of the leading manufacturers of automotive lighting & signaling equipment and rear view mirror.

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Investors Eye Acquisitions in the Highway Sector Worth INR245bn
Sep 20,2016

Investors are keenly looking to pick up stake in projects worth INR245bn of completed highways, with an average of six years of operational history, estimates India Ratings and Research (Ind-Ra). The agency notes that there has been a paradigm shift in the acquisitions - from developers to financial investors. Ind-Ra believes that this is a positive shift and it will give impetus and provide opportunities for the opening up of businesses in the operation and maintenance vertical. Ind-Ra estimates that deals which are yet to be sealed have a debt size of over INR164bn. The activity pipeline has been abuzz in the last three years and Ind-Ra estimates that the highway sector has witnessed transactions of around INR111bn in debt, during February 2013-June 2016.

Ind-Ra, based on publicly available information as well as further limited information received from the issuer, notes that the list of sellers or potential sellers include companies, namely, HCC Concessions, NCC Infrastructure, Soma Enterprises, Reliance Infrastructure Limited (IND A+/RWN) and GMR Infrastructure.

The Indian highway sector is witnessing an enhanced level of activity in the acquisition space, largely led by global marque funds and investors namely, I Squared Capital, Brookfield Asset Management, PSP Investments and Macquaries India Infrastructure Fund among others. These international funds have picked up stake or are in advanced stages of acquisition of around 2,900km length of national and state highway projects. Similarly, domestic financial investors namely, IDFC India Infrastructure Fund and other infrastructure companies such as, Tata Realty and Infrastructure Ltd. have made a mark by showing interest in deals of around 780km length of highways. With Infrastructure Investment Trusts gaining traction, Ind-Ra believes highways, as an asset class will further evolve and will set benchmarks.

Road projects worth over INR400bn, spanning around 3,600km, have either been sold off in the last three years or are currently in the process of being divested. This recent increase in investor appetite could well be sustained, with reports doing the rounds that the government is working towards clearing the roads to provide access for global sovereign wealth funds to invest into private highway projects.

Ind-Ra believes that the National Highway Authority of Indias (NHAI, IND AAA/Stable) 100% exit policy, which was cleared in mid-2015 and road developers bid to deleverage their balance sheet have both aided the momentum in the last year. Ind-Ra had highlighted this in June 2016 in the report Opportunities Manifest Despite Overt Limitations.

A study of the deals shows that out of a total of 40 deals, including the ones in the pipeline, only five projects have been or are likely to be acquired by another corporate house, while institutional investors mostly account for the balance. Barring one project, all the projects have operational history of over six years, which could well be one of the reasons for investors evincing interest, since such projects reveal actual traffic potential. National highways and toll road projects are the most in-demand projects, around 94% of highway projects in the fray are national highway projects and around 87% of the projects are toll-based projects, which normally have a higher potential of giving returns to the acquirer.

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Reliance Infrastructure to hold board meeting
Sep 20,2016

Reliance Infrastructure will hold a meeting of the Board of Directors of the Company on 19 September 2016.

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RInfra rises as board approves including new activities
Sep 20,2016

The announcement was made after market hours yesterday, 19 September 2016.

Meanwhile, the S&P BSE Sensex was down 113.15 points, or 0.4%, to 28,521.35

On BSE, so far 1.85 lakh shares were traded in the counter, compared with average daily volume of 4.27 lakh shares in the past one quarter. The stock hit a high of Rs 605.80 and a low of Rs 597.05 so far during the day. The stock hit a 52-week high of Rs 635.35 on 9 September 2016. The stock hit a 52-week low of Rs 322 on 23 September 2015. The stock had underperformed the market over the past 30 days till 19 September 2016, rising 0.21% compared with Sensexs 1.99% rise. The scrip, however, outperformed the market in past one quarter, rising 9.58% as against Sensexs 6.79% rise.

The large-cap company has equity capital of Rs 262.99 crore. Face value per share is Rs 10.

Reliance Infrastructure (RInfra) announced that the board of directors of the company approved to amend the Object Clause of the Memorandum of Association of the company to include new activities relating to setting up any Trust, Funds including Venture Capital Funds, Infrastructure Investment Trust and Real Estate Investment Trust and other Alternative Investment Funds and defence business.

Reliance Infrastructures consolidated net profit rose 7.22% to Rs 438.80 crore on 2.58% rise in net sales to Rs 7032.83 crore in Q1 June 2016 over Q1 June 2015.

RInfra is one of the largest infrastructure companies, developing projects through various special purpose vehicles (SPVs) in several high growth sectors such as power, roads and metro rail in the infrastructure space and the defence sector.

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11.8% growth in Foreign Tourist Arrivals in August 2016 over the same period in 2015
Sep 20,2016

11.8% growth in Foreign Tourist Arrivals (FTAs) in August 2016 over the same period in 2015. Bangladesh accounts for highest share of tourist arrivals followed by USA and UK in August 2016. Rs.12, 903 crore Foreign Exchange earned through tourism in August 2016.

Ministry of Tourism compiles monthly estimates of Foreign Tourist Arrivals (FTAs) on the basis of Nationality-wise, Port-wise data received from Bureau of Immigration (BOI) and Foreign Exchange Earnings (FEEs) from tourism on the basis of data available from Reserve Bank of India. The following are the important highlights regarding FTAs and FEEs from tourism during the month of August, 2016.

Foreign Tourist Arrivals (FTAs):

n++ FTAs during the Month of August, 2016 were 6.70 lakh as compared to FTAs of 5.99 lakh during the month of August, 2015 and 5.76 lakh in August, 2014. There has been a growth of 11.8% in August, 2016 over August, 2015.

n++ FTAs during the period January- August,, 2016 were 55.92 lakh with a growth of 10.2% as compared to the FTAs of 50.73 lakh with a growth of 4.6% in January- August, 2015 over January- August, 2014.

n++ The Percentage share of Foreign Tourist Arrivals (FTAs) in India during August, 2016 among the top 15 source countries was highest from Bangladesh (16.61%) followed by USA (12.59%), UK (10.57%), Sri Lanka (5.92%), Malaysia (3.41%), China (2.77%), Japan (2.75%), Canada (2.63%), Germany (2.57%),France (2.54%),Australia (2.40%), Oman (2.19%), Nepal (1.95%), Singapore (1.91%) and UAE (1.68%).

n++ The Percentage share of Foreign Tourist Arrivals (FTAs) in India during August 2016 among the top 15 ports was highest at Delhi Airport (28.38%) followed by Mumbai Airport (17.32%), Chennai Airport (10.17%), Haridaspur Land check post (9.10%), Bengaluru Airport (6.83%), Cochin Airport (5.08%), Hyderabad Airport (3.98%),Kolkata Airport (3.93%), Gede Rail (2.05%), Trivandrum Airport (1.72%), Ahmadabad Airport (1.68%),Tiruchirapalli Airport (1.64%), Ghojadanga land check post (1.07%), Amritsar (1.05%) and Attari-Wagh (1.05%).

Foreign Exchange Earnings (FEEs) from Tourism in India in Rs. terms and in US$ terms

n++ FEEs during the month of August, 2016 were Rs.12, 903 crore as compared to Rs. 11,411 crore in August, 2015 and Rs. 10,385 crore in August, 2014.

n++ The growth rate in FEEs in rupee terms during August, 2016 over August, 2015 was 13.1% as compared to the growth of 9.9% in August, 2015 over August, 2014.

n++ FEEs from tourism in rupee terms during January- August, 2016 were Rs. 1,00, 287 crore with a growth of 14.7% as compared to the FEE of Rs. 87,428 crore with a growth of 9.6% during January-August, 2015 over January- August, 2014.

n++ FEEs in US$ terms during the month of August, 2016 were US$ 1.927 billion as compared to FEEs of US$ 1.752 billion during the month of August, 2015 and US$ 1.706 billion in August, 2014.

n++ The growth rate in FEEs in US$ terms in August, 2016 over August, 2015 was 10.0% compared to the growth of 2.7% in August, 2015 over August, 2014.

n++ FEE from tourism in US$ terms during January- August , 2016 were US$ 14.922 billion with a growth of 7.8% as compared to the US$ 13.839 billion with a growth 4.9% during January- August , 2015 over January- August, 2014.

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Canara Bank gains on capital raising plans
Sep 20,2016

The announcement was made after market hours yesterday, 19 September 2016.

Meanwhile, the S&P BSE Sensex was down 84.67 points or 0.3% at 28,549.83.

On BSE, so far 1.22 lakh shares were traded in the counter as against average daily volume of 4.55 lakh shares in the past one quarter. The stock hit a high of Rs 308 and a low of Rs 303.25 so far during the day. The stock had hit a 52-week high of Rs 316.75 on 9 September 2016. The stock had hit a 52-week low of Rs 156.20 on 29 February 2016. The stock had outperformed the market over the past one month till 19 September 2016, rising 13.69% compared with Sensexs 1.99% rise. The scrip had also outperformed the market in past one quarter, surging 49.19% as against Sensexs 7.54% rise.

The large-cap PSU bank has equity capital of Rs 542.99 crore. Face value per share is Rs 10.

Canara Bank said that the board of directors of the bank at a meeting scheduled on 23 September 2016 will note the consent of the Government of India on infusion of capital and rights issue. The board will also consider raising of capital by way of a rights issue and strengthening of capital to risk weighted assets ratio (CRAR) of the bank in that meet.

Canara Banks net profit fell 52.2% to Rs 228.95 crore on 3.8% decline in total income to Rs 11786.35 crore in Q1 June 2016 over Q1 June 2015.

The Government of India held 66.3% stake in Canara Bank as per the shareholding pattern as on 30 June 2016.

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Outcome of board meeting of PVR
Sep 20,2016

PVR announced that the Board of Directors of the Company at its meeting held on 20 September 2016 has transacted the following -

Took note of the Order of the Honble High Court of Delhi entailing merger of Bijli Holdings with the Company effective from 01 January 2016.

Allotted 61,19,719 and 38,12,086 fully paid up equity shares of face value of Rs 10 each of PVR to Ajay Bijli and Sanjeev Kumar respectively, cancelled and extinguished 1,00,31,805 equity shares of the Company held by BHPL in accordance with the said Order.

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Mindteck (India) implements innovative Smart Parking Solution in Delhi
Sep 20,2016

Mindteck (India) announced that it has implemented a smart parking pilot project at Connaught Place, C Block, New Delhi, for the New Delhi Municipal Corporation.

The solution includes a Smart Parking Mobile App that enables motorists to navigate and zero in on the nearest parking in real time, resulting in reduced fuel consumption and carbon footprint.

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Indian electronics products to touch $75 bn by 2017: ASSOCHAM-EY study
Sep 20,2016

The Indian electronic products industry in India is expected to grow at a CAGR of 10.1% to reach US$ 75 billion by 2017 from US$ 61.8 billion in 2015 with increasing penetration across consumer products especially in semi-urban and rural markets, along with government push for infrastructure development, locomotive and energy, there exists a significant opportunity for rapid expansion of this industry, adds the ASSOCHAM-EY joint study.

The electronic components industry in India was valued at US$13.5 billion in 2015, growing from US$10.8 billion in 2013 at a CAGR of 11%. The market is dominated by electromechanical components (such as PCB and connectors) which form 30% of the total demand, followed by passive components (such as resistors and capacitors) at 27% , according to an ASSOCHAM-EY study titled Turning the Make in India dream into a reality for electronics and hardware industry.

Indias attractiveness for manufacturers is growing due to availability of low-cost labor. Rising manufacturing costs in China and Taiwan are compelling manufacturers to shift their manufacturing base to alternate markets. In 2014, the average manufacturing labor cost per hour in India was US$0.92 as compared to US$3.52 of China, noted the study.

The Indian manufacturing ecosystem for electronics and hardware industry is still at a nascent stage and faces various demand side as well as supply side challenges are limited scale of operations and local component demand due to the nascent product manufacturing in India. Component demand in India is muted due to very limited value addition as primarily last-mile assembly takes place. Norms such as safety regulations for automotive, medical and industrial sectors have driven the uptake of electronic content globally.

However, manufacturers in India do not add high electronic content in the products due to limited industry-specific standards. The current market is dominated by secondary sales and primary sales are limited due to reduced disposable income in semi-urban and rural markets. The market penetration for most of the consumer appliances and electronics is currently lagging behind global average by up to 60% in certain categories and there lies huge untapped potential in rural markets (approximately 69% of Indias households).

Although global markets are witnessing rapid consumer uptake as electronic content increases across verticals (e.g., automotive with applications around safety, connectivity, infotainment, consumer electronics, smart homes, etc.); India has a slower adoption as consumers remain highly sensitive to even a marginal increase in product prices.

Due to nascent stage of electronics manufacturing in India, scale of operations is low, resulting in reduced cost competitiveness. Traditional electronics manufacturing destinations such as China, Taiwan and South Korea have built significant capacities across manufacturing value chain (SKD assembly, CKD assembly, Semiconductor Assembly & Testing Services). In addition, emerging (Malaysia, Vietnam) destinations have also built capacities. Although labor cost is low in India, labor productivity is lower than traditional destinations.

The basic infrastructure for any industry comprises good roads, power, water, telecommunications, ports and logistics. In India, availability of these facilities is not up to the mark, even in established industrial estates. While the Government has notified Greenfield Electronic Manufacturing Clusters, they still remain un-operational due to infrastructure issues.

The lack of proper roads and sales infrastructure results in distribution challenges for companies catering to markets in small semi-urban cities, rural areas and remote villages. Additionally, from both import and export perspective, there is port congestion due to unavailability of containers and long documentation process.

Availability of relevant manpower is crucial to the development of any industry. Since the electronics manufacturing industry has high dependence on skilled manpower, especially for highly specialized activities such as electronics system design, IC design and manufacturing etc., the availability of talent with relevant skill sets assumes considerable importance.

Both SKD and CKD are labor intensive and require delicate handling and process adherence during the manufacturing process. With changing technology, the labor needs to be constantly trained. However, the current labor scenario in India poses certain challenges.

According to National Skill Development Corporation (NSDC), the incremental human resource requirement in the electronics and IT hardware sector will be 8.9 million by 2022. The lack of training centers that administer courses relevant to the job functions in electronics sector is also a concern. Moreover, the country has strict labor laws including restrictions on overtime work, employee headcount and work timings for women employees, which act as a barrier for growth in the sector.

The high cost of working capital and capex-related financing (receivables and payables) due to high interest rates is a major challenge faced by domestic manufacturers, since it increases the overall cost of finance. Additionally, there is an increase in the cost of manufacturing (conversion costs) due to inadequate availability/reliability of power, high cost of real estate, etc. The cost of borrowed capital is 12%-14% in India as compared with ~5%-7% global average. Moreover, with the frequently changing energy efficiency norms, manufacturers need to make significant investments for products with a high rating.

Indias taxation system is complex, especially where indirect taxes are concerned. Currently, the base direct tax incidence in India stands at around 30%, whereas the corresponding tariff in other Asian countries is between 16% and 25%. Although, the Government has proposed the implementation of Goods and Services Tax (GST) for a state-of the-art indirect tax system, there are concerns that the industry faces in terms of the clarity on the revenue-neutral rate, non-creditable tax on inter-state movement of goods, status of existing state incentives granted and transition from existing taxation system to GST regime.

Procedural and regulatory clearances are time consuming and complex. According to industry sources, it takes up to a year to set up a manufacturing plant in the country and a new production line could take up to six months to become fully operational.

Additionally, the refund processes and clearances to avail benefits under tax are highly cumbersome and time-consuming. Procedure to claim concessional duty on many raw materials/ parts/components used in manufacturing of electronics products has been recently simplified in the Union Budget 2016-17 by introducing the concept of self-assessment.

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Karur Vysya Bank gains as board approves stock-split plan
Sep 20,2016

The announcement was made after market hours yesterday, 19 September 2016.

Meanwhile, the BSE Sensex was down 72.50 points, or 0.25%, to 28,562

On BSE, so far 22,000 shares were traded in the counter, compared with average daily volume of 24,500 shares in the past one quarter. The stock hit a high of Rs 485.50 and a low of Rs 480.10 so far during the day. The stock hit a 52-week high of Rs 541.40 on 11 July 2016. The stock hit a 52-week low of Rs 393.90 on 29 February 2016. The stock had underperformed the market over the past 30 days till 19 September 2016, falling 5.24% compared with Sensexs 1.99% rise. The scrip had also underperformed the market in past one quarter, dropping 2.28% as against Sensexs 6.79% rise.

The mid-cap private sector bank has an equity capital of Rs 121.86 crore. Face value per share is Rs 10.

Karur Vysya Banks net profit rose 8.7% to Rs 146.35 crore on 1.9% rise in total income to Rs 1547.31 crore in Q1 June 2016 over Q1 June 2015.

Karur Vysya Bank has 667 branches and 1655 ATMs as on 31 March 2016.

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IndiaGÖs external debt stock stood at US$ 485.6 billion at end-March 2016, increasing by US$ 10.6 billion over the level at end-March 2015
Sep 20,2016

The rise in External Debt was due to the rise in long-term debt particularly NRI deposits.

The Twenty Second Issue of the Annual Publication GÿIndias External Debt: A Status Report 2015-16 prepared by the Department of Economic Affairs, Ministry of Finance, Government of India presents a detailed analysis of Indias external debt position at end-March 2016, based on the data released by the Reserve Bank of India (RBI) on June 30, 2016 and data and information available from other sources. Apart from analysing the trend, composition and debt service of Indias external debt, the Report provides a comparative picture of Indias external debt vis-a-vis other countries, particularly developing countries.

The salient features of the Report are:

-+Indias external debt stock stood at US$ 485.6 billion at end-March 2016, increasing by US$ 10.6 billion (2.2 per cent) over the level at end-March 2015.The rise in external debt was due to the rise in long-term debt particularly NRI deposits.

-+At end-March 2016, long-term external debt was US$ 402.2 billion, showing an increase of 3.3 per cent over the level of 2015 (end-March). Long-term external debt accounted for 82.8 per cent of total external debt at end-March 2016 as compared to 82.0 per cent at end-March 2015.

-+Short-term external debt declined by 2.5 per cent from US$ 84.7 billion at end-March 2015 to US$ 83.4 billion at end-March 2016. This was mainly due to the decline in trade related credits. The share of short-term external debt in total external debt declined from 18.0 per cent at end-March 2015 to 17.2 per cent at end-March 2016.

-+Government (sovereign) external debt stood at US$ 93.4 billion at end-March 2016 vis-a-vis US$ 89.7 billion at end-March 2015. The share of Government external debt in total external debt was 18.9 per cent at end-March 2016 vis-+-vis 18.8 per cent at end-March 2015.

-+Indias external debt has remained within manageable limits in 2015-16 as indicated by the increase in foreign exchange reserves to debt ratio to 74.2 per cent, the external debt-GDP ratio of 23.7 per cent, and fall in short term debt to 17.2 per cent. External debt of the country continues to be dominated by the long-term borrowings. Indias external debt position in recent years is given below: 

Table: Indias Key External Debt Indicators (Per cent)At end March External Debt (US$ billion)External Debt to GDPDebt Service RatioForeign Exchange Reserves to Total DebtConcessional Debt to Total DebtShort-Term Debt to Foreign Exchange ReservesShort- Term Debt to Total DebtLong-Term Debt to Total Debt1234567892013-14     446.223.8        5.968.210.430.120.579.52014-15 PR    475.0 23.8        7.671.98.825.018.082.02015-16 QE    485.623.78.874.29.023.117.282.8PR: Partially Revised; QE: Quick Estimates.

A cross country comparison based on International Debt Statistics 2016 of the World Bank which presents the debt data for 2014, shows thatIndia continues to be among the less vulnerable countries with its external debt indicators comparing well with other indebted developing countries. Indias key debt indicators, especially debt to GNI and debt service ratios continue to be comfortable.

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Indias external debt stock stood at US$ 485.6 billion at end-March 2016, increasing by US$ 10.6 billion over the level at end-March 2015
Sep 20,2016

The rise in External Debt was due to the rise in long-term debt particularly NRI deposits.

The Twenty Second Issue of the Annual Publication Indias External Debt: A Status Report 2015-16 prepared by the Department of Economic Affairs, Ministry of Finance, Government of India presents a detailed analysis of Indias external debt position at end-March 2016, based on the data released by the Reserve Bank of India (RBI) on June 30, 2016 and data and information available from other sources. Apart from analysing the trend, composition and debt service of Indias external debt, the Report provides a comparative picture of Indias external debt vis-a-vis other countries, particularly developing countries.

The salient features of the Report are:

-+Indias external debt stock stood at US$ 485.6 billion at end-March 2016, increasing by US$ 10.6 billion (2.2 per cent) over the level at end-March 2015.The rise in external debt was due to the rise in long-term debt particularly NRI deposits.

-+At end-March 2016, long-term external debt was US$ 402.2 billion, showing an increase of 3.3 per cent over the level of 2015 (end-March). Long-term external debt accounted for 82.8 per cent of total external debt at end-March 2016 as compared to 82.0 per cent at end-March 2015.

-+Short-term external debt declined by 2.5 per cent from US$ 84.7 billion at end-March 2015 to US$ 83.4 billion at end-March 2016. This was mainly due to the decline in trade related credits. The share of short-term external debt in total external debt declined from 18.0 per cent at end-March 2015 to 17.2 per cent at end-March 2016.

-+Government (sovereign) external debt stood at US$ 93.4 billion at end-March 2016 vis-a-vis US$ 89.7 billion at end-March 2015. The share of Government external debt in total external debt was 18.9 per cent at end-March 2016 vis-+-vis 18.8 per cent at end-March 2015.

-+Indias external debt has remained within manageable limits in 2015-16 as indicated by the increase in foreign exchange reserves to debt ratio to 74.2 per cent, the external debt-GDP ratio of 23.7 per cent, and fall in short term debt to 17.2 per cent. External debt of the country continues to be dominated by the long-term borrowings. Indias external debt position in recent years is given below:n++

Table: Indias Key External Debt Indicatorsn++(Per cent)At end March External Debt (US$ billion)External Debt to GDPDebt Service RatioForeign Exchange Reserves to Total DebtConcessional Debt to Total DebtShort-Term Debt to Foreign Exchange ReservesShort- Term Debt to Total DebtLong-Term Debt to Total Debt1234567892013-14 n++n++n++ 446.223.8n++n++n++n++n++n++n++ 5.968.210.430.120.579.52014-15 PRn++n++n++ 475.0 23.8n++n++n++n++n++n++n++ 7.671.98.825.018.082.02015-16 QEn++n++n++ 485.623.78.874.29.023.117.282.8PR: Partially Revised; QE: Quick Estimates.

A cross country comparison based on International Debt Statistics 2016 of the World Bank which presents the debt data for 2014, shows thatIndia continues to be among the less vulnerable countries with its external debt indicators comparing well with other indebted developing countries. Indias key debt indicators, especially debt to GNI and debt service ratios continue to be comfortable.

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