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Jindal Drilling & Industries standalone net profit declines 3.66% in the June 2016 quarter

Jindal Drilling & Industries standalone net profit declines 3.66% in the June 2016 quarter

Sep 14,2016

Net profit of Jindal Drilling & Industries declined 3.66% to Rs 9.48 crore in the quarter ended June 2016 as against Rs 9.84 crore during the previous quarter ended June 2015. Sales rose 11.24% to Rs 92.66 crore in the quarter ended June 2016 as against Rs 83.30 crore during the previous quarter ended June 2015.

ParticularsQuarter Ended
n++Jun. 2016Jun. 2015% Var.
Sales92.6683.3011
OPM %9.8912.74-
PBDT14.5518.68-22
PBT12.0915.01-19
NP9.489.84-4

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Board of Anshus Clothing approves winding up of operations
Apr 21,2017

Anshus Clothing announced that the Board of Directors of the Company at its meeting held on 21 April 2017 has approved winding up of operations of the Company through voluntary winding up due to non-operational activities of the Company and due to heavy losses on account of non-performing assets.

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L&T gains after signing pact with South Korean firm
Apr 21,2017

The announcement was made during trading hours today, 21 April 2017.

Meanwhile, the S&P BSE Sensex was up 67.58 points, or 0.23% to 29,489.97.

On the BSE, 35,000 shares were traded in the counter so far, compared with average daily volumes of 1.50 lakh shares in the past one quarter. The stock had hit a high of Rs 1,698 and a low of Rs 1,679.95 so far during the day. The stock hit a 52-week high of Rs 1,719.45 on 7 April 2017. The stock hit a 52-week low of Rs 1,224 on 24 May 2016.

The stock had outperformed the market over the past one month till 20 April 2017, rising 9.88% compared with 0.87% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 18.84% as against Sensexs 8.83% rise.

The large-cap company has equity capital of Rs 186.65 crore. Face value per share is Rs 2.

L&T and Hanwha Techwin (HTW) of South Korea, signed a contract for execution of the 155mm/ 52 Cal Tracked Self Propelled (SP) Gun program for the Indian Army.

L&T was declared as the sole qualified bidder, post User Evaluation Trials, based on the performance of the K9 VAJRA-T, a world class self-propelled howitzer appropriately customised and fielded by L&T with HTW as the technology partner. The K9 VAJRA-T gun is an enhanced version of HTWs K9 Thunder, to suit specific requirements of the Indian Army including desert operations. HTWs K9 Thunder is one of the best performing self-propelled howitzers in the world with over 1,000 numbers already in service in Korea and few other countries. This program has set new benchmarks in co-development and co-production of Defence Systems by Indian Private Sector Defence Players and Foreign Majors.

The contract is a result of nearly a decade long close relationship and joint efforts of the two companies on this program, through extensive user evaluation and field trials followed by contract negotiations with the Indian Ministry of Defence, L&T said in a statement.

L&T shall not only manufacture K9 VAJRA-T in India, with over 50% indigenous content, but also provide through life support from India, the company said.

L&Ts consolidated net profit rose 38.9% to Rs 972.47 crore on 1.7% growth in net sales to Rs 26018.15 crore in Q3 December 2016 over Q3 December 2015.

L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services. L&T is Indias largest private sector defence and aerospace company with experience of over three decades in the segment. Hanwha Group, Hanwha Techwins parent company, is the largest private sector defence conglomerate in South Korea.

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HDIL surges after launch of residential project
Apr 21,2017

The announcement was made after market hours yesterday, 20 April 2017.

Meanwhile, the S&P BSE Sensex was up 66.68 points or 0.23% at 29,489.07. The S&P BSE Mid-Cap index was up 69.10 points or 0.48% at 14,554.59.

On the BSE, 15.97 lakh shares were traded on the counter so far as against the average daily volumes of 17.42 lakh shares in the past one quarter. The stock had hit a high of Rs 94.80 and a low of Rs 90.50 so far during the day.

The stock had hit a 52-week high of Rs 108.75 on 12 July 2016 and a 52-week low of Rs 52.25 on 27 December 2016. It had outperformed the market over the past one month till 20 April 2017, advancing 17.86% compared with the Sensexs 0.33% fall. The scrip had also outperformed the market over the past one quarter, surging 48.59% as against the Sensexs 8.83% rise.

The mid-cap company has equity capital of Rs 434 crore. Face value per share is Rs 10.

Housing Development & Infrastructure (HDIL) announced that it has launched a new project The Nest at Mulund, Mumbai, under the affordable housing brand Budget Homes, having 263 units open for sale in phase 1 of the project.

HDILs consolidated net profit dropped 83.8% to Rs 16.23 crore on 65.5% decline in net sales to Rs 109.32 crore in Q3 December 2016 over Q3 December 2015.

HDIL is a real estate development company, with significant operations in the Mumbai Metropolitan Region.

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Board of Dwekam Industries approves sub-division of shares
Apr 21,2017

Dwekam Industries announced that the board has approved in its meeting held on 13 March 2017 following transactions:

1. Sub-Division of 1 (One) Equity Share of Rs.10/- each into 10 (Ten) Equity Shares of Rs. 1/- each.

2. Alteration of the capital clause in the memorandum of association of the Company.

3. Reclassification of Promoter(s) and Promoter Group.

The board has decided to call the Extra Ordinary General Meeting for the Passing of above mentioned Resolution by the Share Holders of the Company. The date of Extra Ordinary General Meeting will be 13 April 2017.

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Ind-Ra: Manufacturing Exporters to Exhibit Improvements in Credit Profiles in FY18
Apr 21,2017

The double-digit growth in merchandise exports in the last two months was driven by the recovery in global commodity prices rather than higher volumes, says India Ratings and Research (Ind-Ra). The agency expects the inflationary impact of higher commodity prices to result in better demand conditions for manufacturing exporters. The broad based increase in commodity prices will also benefit the nominal EBITDA generation and consequently the credit profiles of exporting corporates in commodity-linked sectors. Better demand conditions in western economies and the knock-on effect of higher commodity prices on emerging economies will result in higher export volumes over FY18 for sectors such as textiles, auto and auto components, chemicals and gems and jewellery.

Indian merchandise exports (in USD terms) rose for the seventh consecutive month in March (27.6% yoy), resulting in a cumulative growth of 4.7% in FY17 (FY16: -15.5%). The growth in March 2017 was led by both oil (69.1% yoy) as well as non-oil (23.2% yoy) exports and reflected the second consecutive month of double digit growth (February: 17.5% yoy). While, merchandise exports have grown substantially over the last couple of months, a closer look at manufacturing data suggests that volume growth across exporting corporates may not have been broad-based. In February 2017, the manufacturing component of Index of Industrial Production (IIP) contracted by 2% (April 2016- February 2017: negative 0.3%). Similarly, cargo shipment volumes at major ports in the month of February 2017 grew by a mere 0.3% yoy (April 2016- February 2017: 6.5%). The growth in Indian merchandise exports also coincides with export growth demonstrated by other Asian peers, which have also benefitted from rising commodity prices. At the end of March 2017, the World Banks non-energy price index, energy price index and base metal price index were up 9.3% yoy, 38% yoy and 22.4% yoy respectively.

As per the Ministry of Commerce data, merchandise exports (in USD) to the United States and the EU in March 2017 increased 8.99% yoy and 9.27% yoy respectively, reflecting the improving consumption scenario in both regions. Indian passenger vehicle and MHCV exports which are largely shipped to the US and EU registered a volume growth of 16.2% and 24.2% respectively (Source: SIAM) in FY17, reflecting the supportive demand conditions. Furthermore, retail sales in western economies continue to grow at a healthy pace which bodes well for corporates exporting textile products. However, Ind-Ra believes that textile exporters credit profile will not benefit significantly due to their limited ability to control prices, owing to stiff competition from other Asian exporters. Gems and jewellery companies will benefit from the sustained improvement in demand conditions which is expected to lead to higher discretionary spending.

Globally, demand from developed economies remained healthy over FY17, however merchandise exports to Asian countries (about 50% share in exports) continued to be modest over FY17. Deliveries to Africa and Latin America remained muted, as was reflected in de-growth in the value of shipments. Reflecting the subdued demand conditions, two wheeler exports de-grew by 5.8% in FY17 (Source: SIAM). Nonetheless, Ind-Ra believes that continued growth in developed markets, coupled with the recovery in commodity prices will translate to moderate improvement in export volumes to Asia and Africa as well over FY18.

While, the agency expects the gradual recovery in demand conditions to continue, Indian exporters will continue to face down-side risks from protectionist policies in the US, a further slowdown in Chinese growth and will remain exposed to the effects of changes in commodity prices. Protectionist policies are expected to have a varied impact on exporting corporates with the service sector expected to be impacted to a greater degree. Software service export growth remained muted recently (3QFY17: -1.2%, 2QFY17: -0.1%, 1QFY17: 0.3%), as incremental IT spending by global corporates have remained muted. Lower revenue growth of Indian IT exporters will get exacerbated by declining margins due to adverse immigration policies which will lead to higher employee costs.

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Sun Pharma slips on buzz Dadra unit gets 11 observations from USFDA
Apr 21,2017

Meanwhile, the S&P BSE Sensex was up 68.83 vpoints, or 0.23% to 29,491.22.

On the BSE, 5.41 lakh shares were traded in the counter so far, compared with average daily volumes of 3.65 lakh shares in the past one quarter. The stock had hit a high of Rs 659.90 and a low of Rs 638.75 so far during the day. The stock hit a 52-week high of Rs 854.50 on 4 August 2016. The stock hit a 52-week low of Rs 572.40 on 9 November 2016.

The stock had underperformed the market over the past one month till 20 April 2017, falling 6.51% compared with 0.87% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 2.33% as against Sensexs 8.83% rise.

The large-cap company has equity capital of Rs 239.93 crore. Face value per share is Re 1.

According to a media report, while inspecting the plant, the US Food & Drug Administration (USFDA) found incomplete lab records at Sun Pharmaceutical Industries Dadra plant. These observations include failure to produce appropriate master or control record for each batch of drugs and failure to properly investigate batches that does not meet specifications. Inspection of the plant by USFDA was concluded in the first week of this month, report added.

Report suggested that the Dadra site is the biggest unit for the company after Halol plant, for supplying drug in the United States.

On a consolidated basis, Sun Pharmaceuticals Industries net profit declined 11.23% to Rs 1721.85 crore on 8.41% rise in net sales to Rs 7683.24 crore in Q3 December 2016 over Q3 December 2015.

Sun Pharma is the worlds fourth largest specialty generic pharmaceutical company and Indias top pharmaceutical company.

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Sun Pharma slips on buzz unit gets USFDA observations
Apr 21,2017

Meanwhile, the S&P BSE Sensex was up 68.83 vpoints, or 0.23% to 29,491.22.

On the BSE, 5.41 lakh shares were traded in the counter so far, compared with average daily volumes of 3.65 lakh shares in the past one quarter. The stock had hit a high of Rs 659.90 and a low of Rs 638.75 so far during the day. The stock hit a 52-week high of Rs 854.50 on 4 August 2016. The stock hit a 52-week low of Rs 572.40 on 9 November 2016.

The stock had underperformed the market over the past one month till 20 April 2017, falling 6.51% compared with 0.87% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 2.33% as against Sensexs 8.83% rise.

The large-cap company has equity capital of Rs 239.93 crore. Face value per share is Re 1.

According to a media report, while inspecting the plant, the US Food & Drug Administration (USFDA) found incomplete lab records at Sun Pharmaceutical Industries Dadra plant. These observations include failure to produce appropriate master or control record for each batch of drugs and failure to properly investigate batches that does not meet specifications. Inspection of the plant by USFDA was concluded in the first week of this month, report added.

Report suggested that the Dadra site is the biggest unit for the company after Halol plant, for supplying drug in the United States.

On a consolidated basis, Sun Pharmaceuticals Industries net profit declined 11.23% to Rs 1721.85 crore on 8.41% rise in net sales to Rs 7683.24 crore in Q3 December 2016 over Q3 December 2015.

Sun Pharma is the worlds fourth largest specialty generic pharmaceutical company and Indias top pharmaceutical company.

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Jain Irrigation Systems secures Poorigali Integrated Micro Irrigation Project
Apr 21,2017

Jain Irrigation Systems has been awarded the Poorigali Integrated Micro Irrigation Project worth Rs 569 crore by Cauvery Neeravari Nigam, Govt. of Karnataka through National Competitive Bidding.

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Brigade Enterprises moves north on fund raising proposal
Apr 21,2017

The announcement was made after market hours yesterday, 20 April 2017.

Meanwhile, the S&P BSE Sensex was up 66.34 points or 0.23% at 29,488.73.

On the BSE, 2,415 shares were traded on the counter so far as against the average daily volumes of 40,034 shares in the past one quarter. The stock had hit a high of Rs 245 and a low of Rs 241.45 so far during the day.

The stock had hit a 52-week high of Rs 252.00 on 17 April 2017 and a 52-week low of Rs 145.00 on 26 December 2016. It had outperformed the market over the past one month till 20 April 2017, advancing 4.34% compared with the Sensexs 0.33% fall. The scrip had also outperformed the market over the past one quarter, gaining 55.57% as against the Sensexs 8.83% rise.

The small-cap company has equity capital of Rs 113.66 crore. Face value per share is Rs 10.

Brigade Enterprises board will discuss the current state of the real estate industry and explore fund raising options by way of a Global Depository Receipts, American Depository Receipts or public issue or private placement or rights issue or preferential allotment or qualified institutional placement or any other permitted mode, through domestic and/or international offerings as may be permitted under applicable law, subject to such approvals as may be required, and to approve ancillary actions for the aforesaid fund raising.

Brigade Enterprises consolidated net profit declined 12.4% to Rs 30.41 crore on 14.5% fall in net sales to Rs 537.61 crore in Q3 December 2016 over Q3 December 2015.

Brigade Enterprises is Brigade groups flagship company. Brigade group was established in 1986, with property development as its main focus.

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C-DOT develops CCSP (C-DOT Common Service Platform) to make smart cities more efficient, economical and future proof
Apr 21,2017

Government of Indias announcement of Smart Cities project in mission mode has generated a lot of interest. The concept of smart cities is incomplete without intervention of communication and Information Technology.

A network of wireless sensors, a reliable public communication infrastructure and innovative applications working on big data and analytics will help us realise smart cities. Innovative local solutions will have to be found for local problems. Though this offers great opportunities to industry, including, MSMEs and start-ups. But adoption of standards will ensure that solution developers do not reinvent the wheel but devote their energies to the actual building of product and on innovations. Further, the interoperability will be another dividend of a standards based approach.

Telecommunications Standards Development Society, India (TSDSI), the Indian telecom Standards Development Organisation (SDO) and European Telecommunications Standards Institute (ETSI), an established and highly respected, 29 years old telecom SDO have joined hands to unroll a collaboration project on ICT Standardisation in an endeavour of creating awareness about telecom standards and promoting their wider adoption that Recognising C-DOTs R&D strengths, an India - European Union project called India-EU Cooperation on ICT-Related Standardisation, Policy and Legislation is organising a workshop on n++Future proof smart cities with a common service layer: a standards driven approachn++ at C-DOT campus. Some of the global smart cities will be sharing the standards driven approach they have adopted for building smart cities in their countries.

The workshop aims to provide a platform where foreign and Indian experts from IoT and M2M forums, academia, R&D, industry and senior officials from Ministries of Communications, Urban Development and Electronics and Information Technology and cities named in Indian Smart Cities project can interact to share knowledge and experiences. It is also planned to enrich the interaction by inviting City Councillors from Europe and Korea who have actually implemented smart city projects in their respective cities.

C-DOTs offering:

C-DOT has developed CCSP(C-DOT Common Service Platform), the oneM2M standards compliant common service platform which can be deployed on any off-the-shelf generic server platforms or cloud infrastructure. The business application providers can deploy their oneM2M compliant applications in either co-located infrastructure or on any public or private cloud.

Using the CCSP platform from C-DOT, the smart cities can reap all the benefits of using a standards compliant horizontal service layer and thus be more efficient, economical and future proof.

Along with the CCSP C-DOT has also developed various oneM2M indigenously designed hardware nodes like AND (Application Dedicated Node), ASN (Application Service Node) and MN(Middle node).

To effectively showcase the strength of the platform, C-DOT has also developed various applications like Smart Living, Smart Street Light, Carbon Footprint Monitoring Application and Power Monitoring which are fully oneM2M compliant.

C-DOT has also participated in two international interoperability events where the CCSP and the ADN were tested for interoperability with many other oneM2M compliant nodes from various international organisations like Interdigital, Herit, Huawei, HPE, NTT, KETI, LAAS-CNRS etc. C-DOT also participated in the conformance testing with ETSI.

Brief on P.D.O. (Public Data Office)

C-DOT PDO is ready to bring yet another revolution by taking internet connectivity to every nook and corner of the country like it did in the 1980s when PCOs changed the Indian telecom scene in by taking telephones to rural India. C-DOT hopes that PDOs would bring next telecom revolution by taking internet connectivity to the masses. Like PCOs, the PDOs would enable small shop owners increase their income by selling data vouchers. This will also encourage village-level entrepreneurship and provide strong employment opportunities, especially in rural and semi urban areas.

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Board of Tirupati Fincorp approves change in directorate
Apr 21,2017

Tirupati Fincorp announced that the Board of Directors of the Company at its meeting held on 20 April 2017 has approved the appointment of Parth Kanabar as an Executive Director of the Company and accepted the resignation of Hitsharan Jain as a Director of the Company.

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Reliance Industries provide update on various projects undertaken at Jamnagar
Apr 21,2017

Reliance is executing major projects in its energy and materials chain atJamnagar covering Para-Xylene, Cracker complex along with downstream plants and Gasification. Jamnagar is one the largest contemporary project sites globally with some of the largest and most complex process units ever built anywhere in this industry. These projects will add significant value to Reliances Refining & Petrochemical business and enable Jamnagar complex to achieve energy self-sufficiency.

Para-Xylene, Cracker and downstream projects (MEG, Linear Low density and Low density Polyethylene) as well as Gasification which is linked to RILs DTA refinery, have now been installed, mechanically complete and are in various stages of pre-commissioning and commissioning.

Reliance is pleased to announce the successful and flawless commissioning of the second and final phase of Para-xylene (PX) comprising of PX Crystallizers trains, Trans-alkylation and AromaticExtraction units at Jamnagar.

Earlier in December 2016, RIL had announced successful commissioning of the first phase comprising Train 1 of PX plant. Train 2 as part of second phase has been commissioned earlier this month and the last Train 3, is at an advanced stage of commissioning and will begin production laterthis quarter.

This plant is built with state-of-the-art crystallization technology from BP which is highly energy efficient. With the commissioning of this plant, RILs PX capacity will be more than double. Reliance will emerge as the worlds second largest producer of PX with about 11% of global production.

The Cracker project has a unique configuration as this world scale plant is tightly integrated with RILs refineries and will use refinery off-gases as feedstock. The project comprises 1.5 MMTPA ethylene cracker along with downstream facilities for producing LDPE, LLDPE and MEG. Thiscracker will have one of the lowest cost positions globally. Additionally, flexibility to crack Propane will help optimize feed mix further in a volatile market environment. Reliance has completed installation of cracker and downstream projects at Jamnagar in the previous quarter and precommissioning and start-up activities are in full swing.

Gasification is one of the largest clean-fuel initiatives in the world. Gasification will make Jamnagar complex highly energy efficient with the lowest energy cost for any integrated Refinery and Petrochemicals facility globally.

The installation and mechanical completion for the Gasification project linked to DTA refinery has been completed in the previous quarter and the pre-commissioning and start-up activities are on in full swing. The installation and mechanical completion for the Gasification linked to RILs SEZ refinery has also been substantially achieved and pre-commissioning activities are expected to start in the next quarter.

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RIL advances after commissioning paraxylene plant at Jamnagar
Apr 21,2017

The announcement was made after market hours yesterday, 20 April 2017.

Meanwhile, the S&P BSE Sensex was up 82.57 points or 0.28% at 29,504.96.

On the BSE, 1.22 lakh shares were traded on the counter so far as against the average daily volumes of 2.05 crore shares in the past one quarter. The stock had hit a high of Rs 1,408 and a low of Rs 1,373.05 so far during the day.

The stock had hit a 52-week high of Rs 1,448.50 on 6 April 2017 and a 52-week low of Rs 925.70 on 23 May 2016. It had outperformed the market over the past one month till 20 April 2017, advancing 6.96% compared with the Sensexs 0.33% fall. The scrip had also outperformed the market over the past one quarter, surging 33.51% as against the Sensexs 8.83% rise.

The large-cap company has equity capital of Rs 3251.33 crore. Face value per share is Rs 10.

Reliance Industries (RIL) announced the successful and flawless commissioning of the second and final phase of Para-Xylene (PX) comprising of PX Crystallizers trains, Trans-alkylation and Aromatic Extraction units at Jamnagar.

With the commissioning of this plant, RILs PX capacity will be more than double. RIL will emerge as the worlds second-largest producer of PX with about 11% of global production, it said.

RILs consolidated net profit rose 3.6% to Rs 7506 crore on 17.6% growth in net sales to Rs 79408 crore in Q3 December 2016 over Q3 December 2015.

Reliance Industries (RIL) is Indias largest private sector company. RILs activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and telecommunications.

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Diamond Power tumbles after dismal Q4 results
Apr 21,2017

The result was announced after market hours yesterday, 20 April 2017.

Meanwhile, the S&P BSE Sensex was up 59.42 points, or 0.20% to 29,481.81.

On the BSE, 69,000 shares were traded in the counter so far, compared with average daily volumes of 1.11 lakh shares in the past one quarter. The stock had hit a high of Rs 36.70 and a low of Rs 35.50 so far during the day.

The stock hit a 52-week high of Rs 63.15 on 20 October 2016. The stock hit a 52-week low of Rs 25.70 on 25 April 2016.

The stock had underperformed the market over the past one month till 20 April 2017, falling 7.57% compared with 0.87% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 3.20% as against Sensexs 8.83% rise.

The small-cap company has equity capital of Rs 269.71 crore. Face value per share is Rs 10.

On a consolidated basis, Diamond Power Infrastructures net sales fell 72.85% to Rs 192.28 crore in Q4 March 2017 over Q4 March 2016.

On a consolidated basis, the company reported net loss of Rs 808.57 crore in the year ended March 2017 compared with net loss of Rs 272.81 crore in the year ended March 2016. Net sales fell 49.36% to Rs 1131.73 crore in the year ended March 2017 over the year ended March 2016.

Diamond Power Infrastructure is an integrated manufacturer of power transmission equipment and turnkey services provider (EPC).

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Government of India to issue Sovereign Gold Bonds 2017-18- Series I
Apr 21,2017

Government of India, in consultation with the Reserve Bank of India, has decided to issue Sovereign Gold Bonds 2017-18- Series I. Applications for the bond will be accepted from April 24, 2017 to April 28, 2017. The Bonds will be issued on May 12, 2017.

The Bonds will be sold through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange.

The features of the Bond are given below:

Sl. No.ItemDetails1Product nameSovereign Gold Bond 2017-18 Gô Series I2IssuanceTo be issued by Reserve Bank India on behalf of the Government of India.3EligibilityThe Bonds will be restricted for sale to resident Indian entities including individuals, HUFs, Trusts, Universities and Charitable Institutions. 4DenominationThe Bonds will ben++denominated in multiples of gram(s) of gold with a basic unit of 1 gram.5TenorThe tenor of the Bond will be for a period of 8 years with exit option from 5th year to be exercised on the interest payment dates.6Minimum sizeMinimum permissible investment will be 1 gram of gold.7Maximum limitThe maximum amount subscribed by an entity will not be more than 500 grams per person per fiscal year (April-March). A self-declaration to this effect will be obtained.8Joint holderIn case of joint holding, the investment limit of 500 grams will be applied to the first applicant only.9Issue pricePrice of Bond will be fixed in Indian Rupees on the basis of simple average of closing price of gold of 999 purity published by the India Bullion and Jewellers Association Limited for the week (Monday to Friday) preceding the subscription period. The issue price of the Gold Bonds will be Rs. 50 per gram less than the nominal value.10Payment optionPayment for the Bonds will be through cash payment (upto a maximum of Rs. 20,000) or demand draft or cheque or electronic banking.11Issuance formThe Gold Bonds will be issued as Government of India Stocks under GS Act, 2006. The investors will be issued a Holding Certificate for the same. The Bonds are eligible for conversion into demat form.12Redemption priceThe redemption price will be in Indian Rupees based on previous weeks (Monday-Friday) simple average of closing price of gold of 999 purity published by IBJA.13Sales channelBonds will be sold through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices as may be notified and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange, either directly or through agents. 14Interest rateThe investors will be compensated at a fixed rate of 2.50 per cent per annum payable semi-annually on the nominal value.15CollateralBonds can be used as collateral for loans. The loan-to-value (LTV) ratio is to be set equal to ordinary gold loan mandated by the Reserve Bank from time to time.16KYC DocumentationKnow-your-customer (KYC) norms will be the same as that for purchase of physical gold. KYC documents such asn++Voter ID, Aadhaar card/PAN or TAN /Passport will be required.17Tax treatmentThe interest on Gold Bonds shall be taxable as per the provision of Income Tax Act, 1961 (43 of 1961). The capital gains tax arising on redemption of SGB to an individual has been exempted. The indexation benefits will be provided to long term capital gains arising to any person on transfer of bond18TradabilityBonds will be tradable on stock exchanges within a fortnight of the issuance on a date as notified by the RBI. 19SLR eligibilityThe Bonds will be eligible for Statutory Liquidity Ratio purposes.20CommissionCommission for distribution of the bond shall be paid at the rate of 1% of the total subscription receivedn++ byn++ then++ receiving offices and receiving offices shall share at least 50% of the commission so received with the agents or sub agents for the business procured through them.

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