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Sundaram Finance standalone net profit declines 8.91% in the June 2016 quarter

Sundaram Finance standalone net profit declines 8.91% in the June 2016 quarter

Jul 30,2016

Net profit of Sundaram Finance declined 8.91% to Rs 90.18 crore in the quarter ended June 2016 as against Rs 99.00 crore during the previous quarter ended June 2015. Sales rose 0.45% to Rs 557.67 crore in the quarter ended June 2016 as against Rs 555.15 crore during the previous quarter ended June 2015.

ParticularsQuarter Ended
n++Jun. 2016Jun. 2015% Var.
Sales557.67555.150
OPM %78.6378.90-
PBDT151.72165.08-8
PBT132.54144.69-8
NP90.1899.00-9

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GOIs Street Lighting National Programme illuminates 50,000 KM of Indian roads
Aug 21,2017

The Government of Indias Street Lighting National programme (SLNP) has illuminated 50,000 KM of Indian roads with installation of 30 lakh LED street lights across the country. With this milestone Energy Efficiency Services Limited, a government of India company under the administration of Ministry of Power, has become the worlds largest street light management company.

The installation of 30 lakh LED street lights has resulted in 39 crore kWh of annual energy savings, avoided capacity of over 104.19 MW to the Urban Local Bodies (ULBs). Further it has also helped in reduction of 3.29 lakh tonnes of CO2 annually.

Under SLNP, Rajasthan is leading the country with an installation of 7.85 lakh LED street lights followed by Andhra Pradesh and Gujarat with 6.03 lakhs and 5.4 lakhs respectively. Presently, EESL is retrofitting 15,000 conventional lights with LED street lights every day. Project is near completion in the states of Himachal Pradesh, Tripura and Gujarat. EESL is also implementing a special heritage lighting project in Kashi region of Uttar Pradesh where 4,000 lights are being installed. The programme has also recently commenced in the cities of Chandigarh and Port Blair, Andaman and Nicobar Islands.

Further, the procurement price of the LED Street Lights has been reduced from Rs. 135/watt to Rs. 80/watt due to mass procurement of the lights. EESL makes the entire upfront investment in installation of the Street Lights and no additional budget allocation from the Municipalities is required. Municipalities pay EESL from the savings in energy and maintenance cost over a 7-year period, making the LED lights affordable and accessible. EESL also undertakes social audits in ULBs where the project is under implementation and post the completion of the project. Few of the social audit results give a clear indication that the overall satisfaction level and the perception of safety among the citizens is extremely high from the newly installed LED street lights.

EESL procurements conform to BIS specification & carry a 7-year warranty against technical defects. EESL conducts appropriate quality checks right from the bidding stage to the field level. This has resulted in the LEDs overall technical fault being less than 2% in the 30 lakh lights installed by EESL in the country. EESL has maintained an uptime of 97% for all street lights across the country.

EESL has a stringent complaint redressal mechanism wherein consumers can go to the n++Register your complaintn++ section on UJALA dashboard www.ujala.gov.in, or on EESL social media handles - for Twitter @EESL_India and for Facebook @EESLIndia for registering complaints. They can also contact the All-India helpline number 1800 180 3580. The official EESL complaint registration email ID is helpline@eesl.co.in. Consumers can also register their complaints at the EESL complaint logging portal - http://support.eeslindia.org/. Further EESL has also installed Centralised Control and Monitoring System (CCMS) to enable remote operation and monitoring of the street lights. CCMS provides real time information on energy consumption and remote monitoring of the street lights.

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Infosys, HDFC in focus
Aug 21,2017

Infosys at its board meeting held on 19 August 2017 approved a proposal to buyback equity shares for an amount not exceeding Rs 13000 crore. The buyback offer will comprise a purchase of up to 11.30 crore shares aggregating up to 4.92% of the paid-up equity capital via tender route at Rs 1,150 per share. The announcement was made on Saturday, 19 August 2017.

Shares of HDFC will be in focus. HDFC Standard Life Insurance Company, a material subsidiary of HDFC has on Friday, 18 August 2017 filed a draft red herring prospectus with Securities & Exchange Board of India for an initial public offer of up to 29.98 crore shares of Rs 10 each. The announcement was made after market hours on Friday, 18 August 2017.

ICICI Bank announced revision in interest rates on savings bank account interest rate with effect from 19 August 2017. Interest rate on deposits below Rs 50 lakh were revised to 3.5% per annum (pa) from 4% pa. Interest rate on deposits of Rs 50 lakh and above were kept unchanged at 4% pa. The announcement was made after market hours on Friday, 18 August 2017.

Laurus Labs announced that it has completed the US Food and Drug Administration (USFDA) inspection of its API facilities in Units 1 and 3 at Parawada, Visakhapatnam, Andhra Pradesh with two observations which are only procedural in nature on Friday, 18 August 2017. It is a regular surveillance audit by USFDA and no data issues were observed in the inspection. The announcement was made after market hours on Friday, 18 August 2017.

Bajaj Electricals announced that the company has bagged an order from Transmission Corporation of Telangana worth Rs 391.45 crore. The order was received for the supply, erection, testing and commissioning of 400 KV QMDC line, from 400 kV NTPC Common point (end of multi-circuit tower) to 400 kV Narsapur sub-station on Turnkey basis. The order completed period is 18 months. The announcement was made after market hours on Friday, 18 August 2017.

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Last Date for Payment of GST and Filing of Return For July 2017 Extended By 5 Days
Aug 21,2017

The GST Implementation Committee, consisting of State and Central Government officers, has taken a decision to extend the last date for payment of the GST for the month of July 2017 to 25th August, 2017.

Earlier the last date for payment of taxes and filing of GST Return in Form 3B for the month of July was kept as 20th of August 2017. Since it is the first Return to be filed under GST, the tax payers and the tax practitioners have requested for few more days to file their Return. Also there have been requests from States which are hit with floods to extend the last date for filing of GST Returns. The State of Jammu & Kashmir has also requested for extension of time because of late passing of their GST Ordinance. Some technical glitches are also experienced by last minute return filers.

It has been specified that for those tax payers, who do not want to avail of transitional credit in TRANS1 this month, the date for return filing will be 25th August 2017. And for those who want to fill up TRANS1 this month, the last date for filing of returns will be 28th August 2017, as announced earlier. In order not to face any last moment technological difficulty in submission of return, all tax payers are requested to kindly file their return well before 25th / 28th of August 2017 and not wait for the last date. Suitable notification is being issued shortly.

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REIL Electricals India to hold AGM
Aug 19,2017

REIL Electricals India announced that the Annual General Meeting (AGM) of the company will be held on 30 September 2017.

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Gokul Solutions schedules AGM
Aug 19,2017

Gokul Solutions announced that the Annual General Meeting (AGM) of the company will be held on 14 September 2017.

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Orient Press to convene AGM
Aug 19,2017

Orient Press announced that the Annual General Meeting (AGM) of the company will be held on 23 September 2017.

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Sahara Housing Fina Corporation AGM scheduled
Aug 19,2017

Sahara Housing Fina Corporation announced that the Annual General Meeting (AGM) of the company will be held on 26 September 2017.

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Medicamen Biotech AGM scheduled
Aug 19,2017

Medicamen Biotech announced that the Annual General Meeting (AGM) of the company will be held on 13 September 2017.

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India Lease Development to conduct AGM
Aug 19,2017

India Lease Development announced that the Annual General Meeting (AGM) of the company will be held on 26 September 2017.

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James Warren Tea to convene AGM
Aug 19,2017

James Warren Tea announced that the Annual General Meeting (AGM) of the company will be held on 12 September 2017.

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Rishiroop to conduct AGM
Aug 19,2017

Rishiroop announced that the Annual General Meeting (AGM) of the company will be held on 25 September 2017.

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Shri Bajarang Alloys to conduct AGM
Aug 19,2017

Shri Bajarang Alloys announced that the Annual General Meeting (AGM) of the company will be held on 26 September 2017.

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ICDS AGM scheduled
Aug 19,2017

ICDS announced that the Annual General Meeting (AGM) of the company will be held on 25 September 2017.

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Gujarat Investa to hold AGM
Aug 19,2017

Gujarat Investa announced that the Annual General Meeting (AGM) of the company will be held on 28 September 2017.

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Motor & General Finance schedules AGM
Aug 19,2017

Motor & General Finance announced that the Annual General Meeting (AGM) of the company will be held on 26 September 2017.

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