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Land allotment for four industrial cities in DMIC to begin from October: Alkesh Sharma

Land allotment for four industrial cities in DMIC to begin from October: Alkesh Sharma

Jul 23,2016

The Centre will start allocating land in all the four industrial cities being implemented under the Delhi-Mumbai Industrial Corridor (DMIC) project from October this year, a top government official said at an ASSOCHAM event.

n++Land allotment for industries will begin in October this year for anyone who wants to put up an industry, we are looking at anchor investors, we are looking for some big industries to come up but we are open to all industries,n++ said Mr Alkesh Kumar Sharma, chief executive officer (CEO) and managing director (MD), DMIC Corporation Limited said while inaugurating an ASSOCHAM International Summit on DMIC-Hub for investors.

The four industrial cities that are being implemented under DMIC project include - in Dholera Special Investment Region (Gujarat), Shendra Bidkin Industrial Park & Dighi Port Industrial Area (Maharashtra), Integrated Industrial Township (Greater Noida-Uttar Pradesh) and Vikram Udyogpuri (Ujjain-Madhya Pradesh).

n++The land pricing and disposal policies have already been finalised in Gujarat, it will be finalised in a weeks time in Maharashtra and we will also be finalising it in Greater Noida and in Ujjain within this month so that by September-October we can start allotting land,n++ said Mr Sharma.

He informed that DMICDC had already developed a detailed land use plan and that it will soon come up with a mechanism whereby one can apply online and the land shall be allotted.

n++You can identify a plot on the Google maps, fill in and you will see complete details of the plot that this plot is for industrial purpose, the size of the plot is 20 acres and this is the type of industry you can set up,n++ he said.

n++We do not have any issue on land as all the land which we have in these cities are free from litigation,n++ further said Mr Sharma.

He also informed that government was looking at alternate ways of generating energy considering the current power and gas scenario.

The DMICDC CEO said that the type of industries that have been identified for these industrial cities are the ones that are not highly polluting unlike chemical factories and others.

He also said that all environment clearances had been obtained from the union Ministry of Environment and Forests for all the projects. We have taken all the sustainability parameters that are best in the world in terms of both social and economic issues.n++

He said that DMICDC would be following the best global practices be it transportation, power and water supply, water conservation, sewage treatment and others.

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Outcome of board meeting of IGC Foils
Sep 26,2016

IGC Foils announced that the Board of Directors of the Company at its meeting held on 26 September 2016 has transacted the following -

The name of the Company has changed from IGC Foils to IGC Industries.

The Board has decided to insert the following main object in its existing Memorandum of Association (MoA) - Lead & Plastic Manufacturing.

The Board has decided to keep the EGM on 19 October 2016 to approve the above mentioned transaction.

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TCS ranked top global financial technology provider
Sep 26,2016

Tata Consultancy Services announced that it has been recognised as the leading global financial technology provider in the 2016 IDC Financial Insights FinTech Ranking Top 100. TCS earned the top position for the second consecutive year after maintaining a top ten ranking for the past ten years.

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Ludhiana Mega Food Park Foundation Stone laid
Sep 26,2016

The Union Minister Food Processing Industries Smt. Harsimrat Kaur Badal laid the Foundation Stone of the Ludhiana Mega Food Park being promoted by Punjab Agro. n++Ludhiana Food Park is the gift of the Prime Minister to Punjab and will give benefit to farmers and processors of Ludhiana, Fatehgarh Sahib, Rupnagar, S.B.S. Nagar, Jalandhar, Moga, Sangrur and Barnala district of Punjabn++ said Smt. Badal to mediapersons.

In order to give an impetus to the growth of the Food Processing Sector in Punjab, Ministry has approved three Mega Food Park in the State of Punjab. Out of these three Mega Food Park First Mega Food Park located at Fazilka has already become operational. The foundation stone laying of a second Mega Food Park in the state promoted by M/s Punjab Agro Industries Corporation Ltd. (PAIC) was done today by Smt. Harsimrat Kaur Badal, Union Minister of Food Processing Industries at Ludhiana. A 3rd Mega Food Park (M/s Sukhjit Mega Food Park) has been approved by the Ministry in Kapurthala District of Punjab.

Under the visionary guidance of Prime Minister Shri Narendra Modi, Ministry of Food Processing Industries is focusing on boosting the Food Processing Industry so that agriculture sector grows exponentially and becomes the engine of growth to drive the n++Make in Indian++ initiative of Prime Minister. Ministry of Food Processing Industries has identified creation of modern infrastructure for food processing as a focus area and is encouraging private investment. As a step in this direction, Ministry of Food Processing Industries has been implementing the Mega Food Park Scheme in the country to give a major boost to the Food Processing Sector along the value chain from the farm to the market with strong forward and backward linkages through a cluster based approach.

This Mega Food park has a Central Processing Centre (CPC) at Ludhiana and four Primary Processing Centres (PPCs) are being set up at Hoshiarpur, Amritsar, Fazilka and Bathinda to provide strong backward linkages. The Mega Food Park is expected to provide direct and indirect employment to about 6000 people and benefit about 25,000 - 30,000 farmers in its catchment area.

Speaking on the occasion, Smt. Badal informed that this Mega Food Park will be set up with the project cost of Rs. 117.61 crore in an area of 100.20 acres. The park will have facilities of 500 kg/Spiral Freezer, 1000 MT Cold Store of Onion & Garlic, 1000 MT Frozen cold store of Vegetable produce, 10000 MT Dry warehouse, 10000 MT Silos, 100 MT Ripening Chamber (ECRC), 1 MT/Hr Dehydration Line (Air dried), 400 MT Cold storage, Reefer vans, Food incubation center (ICRESAT) and Testing Laboratory. The Minister expressed confidence that this Mega Food Park project will create a modern infrastructure for arresting post-harvest losses of horticultural and non-horticultural produce and provide impetus to the growth of food processing sector in Punjab. This Mega Food Park project will help in providing better prices to farmer, reduce wastage of perishables, add value to agricultural produce and create huge opportunities for entrepreneurship and employment for the youth of the state.

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Infibeam Incorporation allots equity shares
Sep 26,2016

Infibeam Incorporation announced that the Nomination and Remuneration Committee (NRCn++) of the Company in its meeting held on 26 September 2016 has approved allotment of 2,70,900 Equity Shares of Rs. 10/- each to the option grantees who have exercised their options under Employee Stock Option Scheme 2013-14 and Employee Stock Option Scheme 2014-15.

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Capfin India to hold board meeting
Sep 26,2016

Capfin India will hold a meeting of the Board of Directors of the Company on 3 October 2016.

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State Bank of Travancore to hold board meeting
Sep 26,2016

State Bank of Travancore will hold a meeting of the Board of Directors of the Company on 26 September 2016.

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Kirloskar Electric Company to hold board meeting
Sep 26,2016

Kirloskar Electric Company will hold a meeting of the Board of Directors of the Company on 26 September 2016.

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JK Cements to hold board meeting
Sep 26,2016

JK Cements will hold a meeting of the Board of Directors of the Company on 29 October 2016 to consider, approve and take on record Unaudited Financial Results of the Company for the 2nd Quarter and Six Months Ended on September 30, 2016.

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Greaves Cotton to hold board meeting
Sep 26,2016

Greaves Cotton will hold a meeting of the Board of Directors of the Company on 26 September 2016.

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Optimism in Rate Markets to Continue
Sep 26,2016

As two critical hurdles (US Fed and Bank of Japan - BoJ - policy) have now passed, momentum in the domestic rate market will be focussed on The Reserve Bank of Indias (RBI) policy, says India Ratings and Research (Ind-Ra). The rupee will stay firm and could trade at 66.45/USD-67/USD (66.65/USD on 23 September) throughout the week, while the old 10-year G-sec yield trading range could be at 6.92%-6.98% (6.97% on 23 September).

BoJ Policy Potential for Carry Trade: The agency believes BoJ policy can actually propel carry-trade in the near future. The BoJ has announced a long-term 10 year financing window at a fixed rate, expanding from the existing facility of a 1-year window. As a consequence of eliminating refinancing and interest rate risks, the new facility could encourage Japanese institutions to run leverage investments in other economies offering higher rates. This has also come at a time when the Yen has strengthened 20% from record lows in recent times, leaving scope for potential weakening. Since India is a preferred destination for Japanese institutions and corporates, high interest rate differential could augment portfolio flows from Japan in the future. Similarly, investments in the US Treasury by Japanese institutions will auger well for the low US yield and be supportive for emerging economies.

Focus on Policy and Auction Calendar: With Monetary Policy Committee (MPC) in place, the market can hope for an action on the rate front after April 2016. In the interest rate market, both the SWAP curve and G-Sec curve have fallen further in recent times, corroborating market expectations of an imminent rate cut. The agency believes scope for RBIs action on rate front appears skewed towards December policy review than October 2016. While the very short-term rates are aligned with policy rates, the underlying G-Sec curve is 40bps above the policy rate, providing further room for softening.

During this week, the RBI is scheduled to release the calendar for government borrowings through dated securities and short-term treasury bills, and an indicative calendar for the auction of State Development loans. The remaining borrowing through dated government securities will be INR2.45trn on a gross basis and INR1.8trn on a net basis, as per the Union budget. On the other hand, INR2trn of state development loans are likely to be issued in 2HFY17.

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Infrastructure, Preservation of Monuments and Budget Hotels to Drive Tourism: Finance Minister
Sep 26,2016

India must build tourist infrastructure, preserve and market monuments, and develop moderately-priced hotels, stated Honble Mr Arun Jaitley, Minister of Finance and Corporate Affairs.

Highlighting that India has natural beauty, pilgrim centers, and booming urban centers, the Minister said that business tourism and student tourism is being promoted. The shortage of connectivity has been addressed with 70 functional airports and 30-35 more airports to be added for regional connectivity, he added. India also has the fastest growing highway network, while the railways are focusing on quality, faster trains and station redevelopment.

The Finance Minister stated that industry should develop the right business models. The Goods and Services Tax (GST) rate would be higher if more exemptions were to be provided, he stressed. Facilitation by government in terms of electronic visas, marketing and tourism promotion and preservation of monuments would be provided and as Indias position in the global economy improves, tourism too will benefit, he noted.

Shri N Chandrababu Naidu, Honble Chief Minister of Andhra Pradesh, observed that as a service sector, the tourism industry creates the highest employment, direct and indirect. n++India has all advantages,n++ he stressed, and it has emerged as a priority sector for the government. Creating the right ecosystem and marketing are important to boost the sector, he felt.

The Chief Minister emphasized that Andhra Pradesh achieved almost 11% growth rate the previous year, and his target is to raise this to 14-15% in the current year. The state is stressing creating the right ecosystem to make tourism a growth driver. He gave the example of Tirupati Temple as an ecosystem for generating jobs.

Mr Mahesh Sharma, Honble Minister of State (Independent Charge) for Tourism and Culture, said that tourism has been identified as a priority sector by the Prime Minister. He added that the target is to raise the share of India in aggregate tourist arrivals to 1% by 2020 and further to 2% by 2025. While electronic visa facility has been provided to 150 countries, it will be offered for more countries shortly.

Suven Life Sciences turns volatile after securing 2 product patents
Sep 26,2016

The announcement was made during trading hours today, 26 September 2016.

Meanwhile, the BSE Sensex was down 394.24 points, or 1.38%, to 28,273.98.

On BSE, so far 1.04 lakh shares were traded in the counter, compared with average daily volume of 63,511 shares in the past one quarter. Trading was volatile on the counter. The stock rose 7.30% at the days high of Rs 195.80 in intraday trade. The stock fell 0.50% at the days low of Rs 188 in intraday trade. The stock hit a 52-week high of Rs 308.70 on 5 October 2015. The stock hit a 52-week low of Rs 144.35 on 19 February 2016. The stock had underperformed the market over the past 30 days till 23 September 2016, sliding 4.46% compared with 2.99% rise in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 0.19% as against Sensexs 8.60% rise.

The small-cap company has equity capital of Rs 12.73 crore. Face value per share is Re 1.

Suven Life Sciences announced that the grant of one product patent from India and one product patent from Japan corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases and these Patents are valid through 2026 and 2032 respectively.

The granted claims of the patents are from the mechanism of action include the class of selective 5-HT6 compounds and H3 Inverse agonist compounds and are being developed as therapeutic agents and are useful in the treatment of cognitive impairment associated with neurodegenerative disorders like Alzheimers disease, Attention deficient hyperactivity disorder (ADHD), Huntingtons disease, Major Depressive disorder (MDD), Parkinson and Schizophrenia, the company said in statement.

With these new patents, Suven has a total of 19 granted patents from India and 19 granted patents from Japan. These granted patents are exclusive intellectual property of Suven and are achieved through the internal discovery research efforts. Products out of these inventions may be out-licensed at various phases of clinical development like at Phase-I or Phase-II, it added.

Suven Life Sciences consolidated net profit rose 58.2% to Rs 32.58 crore on 31.7% rise in net sales to Rs 133.23 crore in Q1 June 2016 over Q1 June 2015.

Suven Life Sciences is a biopharmaceutical company specializing in drug discovery and developmental activities in central nervous system disorders and contract research and manufacturing services (CRAMS).

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Board of Nutraplus India appoints director
Sep 26,2016

Nutraplus India announced that the Board of Directors of the Company at its meeting held on 26 September 2016 has appointed Kishor Ostwal as an Additional Director of the Company.

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Mindtree allots equity shares
Sep 26,2016

Mindtree has allotted 1,480 Equity shares of Rs.10/- each, under Employee Stock Option Plan 2001 (Program 2) and 17,930 Equity Shares of Rs.10/- each, under Mindtree Employee Restricted Stock Purchase Plan 2012 (Program 8) on 26 September 2016.

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Minda Corporation drops after huge bulk deal
Sep 26,2016

Meanwhile, the S&P BSE Sensex was down 370.98 points or 1.29% at 28,297.24

Bulk deal boosted volume on the Minda Corporation scrip. On BSE, so far 1.51 crore shares were traded in the counter as against average daily volume of 35,061 shares over the past one quarter. The stock hit a high of Rs 109.70 and low of Rs 95.75 so far during the day. The stock hit a record high of Rs 143.60 on 12 July 2016. The stock hit a 52-week low of Rs 71.50 on 29 September 2015. The stock had underperformed the market over the past 30 days till 23 September 2016, sliding 7.43% compared with 2.99% rise in the Sensex. The scrip also underperformed the market in past one quarter, declining 2.68% as against Sensexs 8.60% rise.

The small-cap company has equity capital of Rs 41.86 crore. Face value per share is Rs 2.

On a consolidated basis, Minda Corporations net profit rose 22.92% to Rs 24.88 crore on 31.09% rise in total income to Rs 699.46 crore in Q1 June 2016 over Q1 June 2015.

Minda Corporation is a diversified company with a product portfolio encompassing from mechanical and electronic security system, electronic controllers for electric vehicles and for auto OEMs across the globe. It also manufactures die casting parts for auto and consumer durable industry.

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