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Coal India in focus as arm NLC approves Rs 1244-crore share buyback plan

Coal India in focus as arm NLC approves Rs 1244-crore share buyback plan

Feb 27,2017

Coal India announced that the board of directors of its wholly-owned subsidiary Northern Coalfields (NCL), at its meeting held on 24 February 2017, approved the buyback of 76,356 fully paid equity shares, representing 4.3% of the paid-up share capital of NCL, from its shareholders on a proportionate basis through tender offer. The announcement was made on Saturday, 25 February 2017.

The maximum buyback size is Rs 1244.12 crore at a price of Rs 1.62 lakh each, payable in cash, subject to the approval of the shareholders of NCL. Since NCL is a wholly-owned subsidiary of Coal India, both, pre and post buyback by NCL, Coal India shall hold 100% of the paid-up equity share capital.

L&T announced that its wholly owned subsidiary L&T Hydrocarbon Engineering (LTHE) has bagged an onshore engineering, procurement and construction (EPC) contract worth around Rs 1100 crore from Indian Oil Corporation (IOCL) for setting up a 0.740 million metric tonne per annum (MMTPA) fluidised cracking unit (FCC) including LPG treatment facility at its Bongaigaon refinery, Assam. The announcement was made on Saturday, 25 February 2017.

State Bank of India (SBI) announced that the Government of India (GoI) has issued orders dated 22 February 2017, for acquisition of its associated banks viz. State Bank of Bikaner & Jaipur (SBBJ), State Bank of Mysore (SBM), State Bank of Travancore (SBT), State Bank of Patiala (SBP) and State Bank of Hyderabad (SBH). In terms of the orders, the entire undertaking of SBBJ, SBM, SBT, SBP and SBH shall stand transferred to and vested in SBI from 1 April 2017. The announcement was made after market hours on Thursday, 23 February 2017.

It may be recalled that the Finance Minister on 15 February 2017, announced that the Cabinet had approved the merger of SBBJ, SBM, SBT, SBP and SBH with SBI. SBI holds 90% stake in SBM, 79.09% stake in SBT and 75.07% stake in SBBJ as per the shareholding pattern as on 31 December 2016. SBH and SBP are not listed on the bourses.

TCS announced that Community Savings Bank Association (CSBA) has selected TCS BaNCS on the Cloud as the core banking solution for its member banks across the entire United Kingdom. The vision of CSBA is to have a local network of customer owned, regional banks that create and support wealth creation in local communities. TCS BaNCS on the Cloud is a digital banking solution designed to meet the market requirements in the UK. The announcement was made after market hours on Thursday, 23 February 2017.

Power Grid Corporation of India (PGCIL) announced that it has entered into loan agreement with Asian Development Bank (ADB) for an amount not exceeding $500 million for part funding of its projects. The announcement was made after market hours on Thursday, 23 February 2017.

Adani Ports and Special Economic Zone (APSEZ) announced the terms of buyback of non-convertible debentures (NCDs) on Friday, 24 February 2017. It intends to buyback NCDs aggregating to Rs 500 crore, due to mature on 28 April 2017 at a buyback price of Rs 10.80 lakh each. It will buyback NCDs aggregating to Rs 170 crore, due to mature on 15 September 2017 at Rs 10.62 lakh each. APSEZ will buyback NCDs aggregating to Rs 250 crore, due to mature on 18 May 2018 at Rs 10.71 lakh each. It will buyback NCDs aggregating to Rs 250 crore, due to mature on 18 August 2018 at Rs 10.69 lakh each. It may be noted that APSEZs board had on 14 February 2017, approved buyback of NCDs aggregating to Rs 1170 crore in one or more tranches.

ONGC announced that its board approved development of five projects with an investment of Rs 7327 crore which will lead to production of 14.97 million metric tonnes (MMT) of oil and 2.97 billion cubic metres (BCM) of gas. ONGC has notified 18 discoveries so far in the financial year (FY) 2017.

In order to settle the long pending Gujarat and Assam royalty issue, an understanding has been reached on 17 February 2017 between Ministry of Petroleum and Natural Gas (MOP&NG), government of Gujarat/Assam and ONGC wherein it has been agreed that the outstanding amount towards differential royalty would be paid by the Government of India (GoI) directly to the governments of Gujarat and Assam. Payments already made to the state governments by ONGC based on interim Supreme Court (SC) orders (Rs 2562 crore) shall be adjusted in the accounts as expenditure. Based on this settlement, SC has disposed off the case on 20 February 2017 and it has absolved the company of outstanding royalty demand by government of Gujarat and Assam amounting to Rs 9796 crore and potential interest claim of Rs 2868 crore.

Further, ONGCs board has approved execution of farm-in/farm-out agreement with Gujarat State Petroleum Corporation (GSPC) in respect of acquisition of 80% participative interest (PI) and operatorship in the NELP-III block KG-OSN-2001/3.

Inox Leisure announced that it has commenced the commercial operations of a multiplex cinema theatre, taken on lease basis and located at Jamnagar, Gujarat with effect from 24 February 2017. The multiplex cinema theatre has 5 screens and 954 seats.

Inox Leisure is now present in 58 cities with 115 multiplexes, 454 screens and a total seating capacity of 1.15 lakh seats across India. The announcement was made on Saturday, 25 February 2017.

Sun TV Network announced that the board of directors of the company at its meeting held on 24 February 2017, re-appointed K. Vijaykumar as Managing Director and Chief Executive Officer.

The board also appointed Kalanithi Maran as Executive Chairman and Kavery Kalanithi as Executive Director of the company for a period of 5 years with effect from 20 April 2017. The announcement was made on Friday, 24 February 2017.

Promoter Kalanithi Maran held 75% stake in Sun TV Network as per shareholding pattern as on 31 December 2016.

Eveready Industries India announced that it has on 23 February 2017 commenced commercial production with a capacity of 500 million of batteries and 9 million liquid crystal display (LED) flashlights per annum at its new unit at Industrial Growth Centre, Matia, Goalpara, Assam. The announcement was made on Friday, 24 February 2017.

Pidilite Industries said that Nina Waterproofing Systems, a subsidiary of the company has incorporated a subsidiary in Srilanka in the name of Nina Lanka Construction Technologies, which is proposed to be engaged in providing waterproofing services to various projects including construction projects. The announcement was made on Friday, 24 February 2017.

Kothari Products announced that the company has divested the entire stake in Sukhdham Constructions & Developers, a 100% subsidiary to Innerline Realty Pvt. Ltd., Mumbai. The announcement was made on Saturday, 25 February 2017.

Shiva Cement announced that the board meeting of the board of directors of the company will be held on 28 February 2017, to review the implementation of share purchase agreement dated 10 January 2017 executed between the existing promoters of the company & JSW Cement Limited & their PACs. The announcement was made on Saturday, 25 February 2017.

Jain Irrigation Systems announced that the meeting of sub committee of the board of directors of the company was held on 25 February 2017 which considered and approved the issue of foreign currency convertible bonds (FCCBs) upto $75 million to non-promoter entities for redemption of FCCBs worth $50 million issued in 2012/2013 and balance $25 million fresh issue for permitted use. The announcement was made on Saturday, 25 February 2017.

Centrum Capital announced that the fund raising committee in its meeting held on 25 February 2017 has approved an issuance of secured, unlisted, unrated, redeemable, non-convertible, principal protected market linked debentures of upto an amount of Rs 50 crore to be issued in one or more series by way of private placement. The announcement was made on Saturday, 25 February 2017.

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Vimta Labs standalone net profit rises 32.60% in the March 2017 quarter
Apr 22,2017

Net profit of Vimta Labs rose 32.60% to Rs 2.40 crore in the quarter ended March 2017 as against Rs 1.81 crore during the previous quarter ended March 2016. Sales rose 19.93% to Rs 39.47 crore in the quarter ended March 2017 as against Rs 32.91 crore during the previous quarter ended March 2016.

For the full year,net profit rose 56.14% to Rs 10.04 crore in the year ended March 2017 as against Rs 6.43 crore during the previous year ended March 2016. Sales rose 22.97% to Rs 153.36 crore in the year ended March 2017 as against Rs 124.71 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales39.4732.91 20 153.36124.71 23 OPM %16.5211.09 -17.2615.44 - PBDT5.943.18 87 25.3219.00 33 PBT3.550.84 323 15.698.74 80 NP2.401.81 33 10.046.43 56

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Gujarat Hotels standalone net profit rises 62.50% in the March 2017 quarter
Apr 22,2017

Net profit of Gujarat Hotels rose 62.50% to Rs 1.43 crore in the quarter ended March 2017 as against Rs 0.88 crore during the previous quarter ended March 2016. Sales declined 2.22% to Rs 0.88 crore in the quarter ended March 2017 as against Rs 0.90 crore during the previous quarter ended March 2016.

For the full year,net profit rose 18.77% to Rs 3.86 crore in the year ended March 2017 as against Rs 3.25 crore during the previous year ended March 2016. Sales declined 6.88% to Rs 3.25 crore in the year ended March 2017 as against Rs 3.49 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales0.880.90 -2 3.253.49 -7 OPM %90.9187.78 -89.2388.83 - PBDT1.181.26 -6 4.774.91 -3 PBT1.171.25 -6 4.724.86 -3 NP1.430.88 63 3.863.25 19

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Mahindra Lifespace Developers consolidated net profit declines 64.13% in the March 2017 quarter
Apr 22,2017

Net profit of Mahindra Lifespace Developers declined 64.13% to Rs 17.40 crore in the quarter ended March 2017 as against Rs 48.51 crore during the previous quarter ended March 2016. Sales rose 128.69% to Rs 327.02 crore in the quarter ended March 2017 as against Rs 143.00 crore during the previous quarter ended March 2016.

For the full year,net profit rose 11.48% to Rs 102.24 crore in the year ended March 2017 as against Rs 91.71 crore during the previous year ended March 2016. Sales rose 28.49% to Rs 762.15 crore in the year ended March 2017 as against Rs 593.17 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales327.02143.00 129 762.15593.17 28 OPM %1.798.88 -6.6014.06 - PBDT29.3761.68 -52 143.52141.71 1 PBT28.2060.56 -53 138.90137.53 1 NP17.4048.51 -64 102.2491.71 11

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International Travel House standalone net profit rises 162.22% in the March 2017 quarter
Apr 22,2017

Net profit of International Travel House rose 162.22% to Rs 3.54 crore in the quarter ended March 2017 as against Rs 1.35 crore during the previous quarter ended March 2016. Sales rose 6.80% to Rs 52.17 crore in the quarter ended March 2017 as against Rs 48.85 crore during the previous quarter ended March 2016.

For the full year,net profit rose 16.23% to Rs 11.17 crore in the year ended March 2017 as against Rs 9.61 crore during the previous year ended March 2016. Sales rose 2.87% to Rs 201.54 crore in the year ended March 2017 as against Rs 195.91 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales52.1748.85 7 201.54195.91 3 OPM %13.908.27 -12.9912.21 - PBDT8.455.61 51 30.3628.04 8 PBT5.552.46 126 18.3116.11 14 NP3.541.35 162 11.179.61 16

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Mahindra Lifespace Developers standalone net profit declines 64.94% in the March 2017 quarter
Apr 22,2017

Net profit of Mahindra Lifespace Developers declined 64.94% to Rs 5.09 crore in the quarter ended March 2017 as against Rs 14.52 crore during the previous quarter ended March 2016. Sales rose 175.08% to Rs 299.45 crore in the quarter ended March 2017 as against Rs 108.86 crore during the previous quarter ended March 2016.

For the full year,net profit declined 37.48% to Rs 48.94 crore in the year ended March 2017 as against Rs 78.28 crore during the previous year ended March 2016. Sales rose 35.54% to Rs 680.55 crore in the year ended March 2017 as against Rs 502.11 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales299.45108.86 175 680.55502.11 36 OPM %0.2011.91 -5.0313.55 - PBDT8.7622.26 -61 74.89120.53 -38 PBT7.6721.21 -64 70.55116.57 -39 NP5.0914.52 -65 48.9478.28 -37

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Aro Granite Industries standalone net profit declines 24.00% in the March 2017 quarter
Apr 22,2017

Net profit of Aro Granite Industries declined 24.00% to Rs 1.52 crore in the quarter ended March 2017 as against Rs 2.00 crore during the previous quarter ended March 2016. Sales rose 12.59% to Rs 56.32 crore in the quarter ended March 2017 as against Rs 50.02 crore during the previous quarter ended March 2016.

For the full year,net profit rose 115.36% to Rs 12.62 crore in the year ended March 2017 as against Rs 5.86 crore during the previous year ended March 2016. Sales rose 10.70% to Rs 238.65 crore in the year ended March 2017 as against Rs 215.59 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales56.3250.02 13 238.65215.59 11 OPM %9.5511.92 -12.309.25 - PBDT4.734.69 1 25.4815.90 60 PBT2.192.32 -6 16.386.78 142 NP1.522.00 -24 12.625.86 115

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Walchand Peoplefirst reports standalone net loss of Rs 0.40 crore in the March 2017 quarter
Apr 22,2017

Net loss of Walchand Peoplefirst reported to Rs 0.40 crore in the quarter ended March 2017 as against net profit of Rs 0.77 crore during the previous quarter ended March 2016. Sales declined 31.67% to Rs 4.66 crore in the quarter ended March 2017 as against Rs 6.82 crore during the previous quarter ended March 2016.

For the full year,net profit declined 66.94% to Rs 0.82 crore in the year ended March 2017 as against Rs 2.48 crore during the previous year ended March 2016. Sales rose 2.15% to Rs 23.24 crore in the year ended March 2017 as against Rs 22.75 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales4.666.82 -32 23.2422.75 2 OPM %-21.8913.34 --0.3412.00 - PBDT-0.531.30 PL 1.624.13 -61 PBT-0.661.19 PL 1.133.76 -70 NP-0.400.77 PL 0.822.48 -67

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Tinplate Company of India standalone net profit rises 74.64% in the March 2017 quarter
Apr 22,2017

Net profit of Tinplate Company of India rose 74.64% to Rs 11.02 crore in the quarter ended March 2017 as against Rs 6.31 crore during the previous quarter ended March 2016. Sales rose 58.92% to Rs 259.26 crore in the quarter ended March 2017 as against Rs 163.14 crore during the previous quarter ended March 2016.

For the full year,net profit declined 58.93% to Rs 27.86 crore in the year ended March 2017 as against Rs 67.84 crore during the previous year ended March 2016. Sales rose 0.26% to Rs 812.65 crore in the year ended March 2017 as against Rs 810.57 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales259.26163.14 59 812.65810.57 0 OPM %11.0515.25 -11.1720.66 - PBDT32.3927.94 16 106.46179.47 -41 PBT17.0410.04 70 40.67106.30 -62 NP11.026.31 75 27.8667.84 -59

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Date for filing of declaration under PMGKY extended up
Apr 22,2017

The Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana,2016 (PMGKY) had commenced on 17th December, 2016 and was open for declarations up to 31st March, 2017.

Representations from stakeholders have been received stating that in some cases tax, surcharge and penalty have been paid on or before 31st March, 2017 but the corresponding deposit under the Pradhan Mantri Garib Kalyan Deposit Scheme, 2016 (Deposit Scheme) could not be made by the said date. Accordingly, DEA vide notification S.O.1218(E) dated 19th April, 2017 has extended the date of making deposit under the Deposit Scheme upto 30th April, 2017 in respect of cases where tax, surcharge and penalty under PMGKY has been paid on or before 31st March, 2017.

Subsequently, CBDT vide Circular No.14 of 2017 dated 21st April, 2017 has extended the date of filing of declaration under PMGKY to 10th May, 2017 in cases where tax, surcharge and penalty under PMGKY has been paid on or before the 31st March, 2017, and deposit under the Deposit Scheme has been made on or before the 30th April, 2017.

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Darjeeling Ropeway Company shifts registered office
Apr 22,2017

Darjeeling Ropeway Company announced that the registered office of the company got shifted from 56E, Hemanta Basu Sarani, Old 4 B.B.D Bagh East, Room No-14A, Kolkata- 700001 to Office No: GF 17, Ground Floor, HDIL Harmony Mall, 1A/58, New Link Road, Goregaon West, Mumbai- 400104 w.e.f 19 April 2017.

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TAAL Enterprises director resigns
Apr 22,2017

TAAL Enterprises announced that Shobhana Joseph has resigned as Director of the Company with immediate effect due to personal reasons.

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Board of Kothari Industrial Corporation appoints director
Apr 22,2017

Kothari Industrial Corporation announced that at the Meeting of the Board of Directors held on 21 April 2017, J. Rafiq Ahmed has been appointed as an Additional Director of the Company with effect from 21 April 2017.

The Board also appointed him as a Wholetime director, without remuneration, subject to the approval of the shareholders at the ensuing Annual General Meeting.

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Board of Advanced Enzyme Technologies approves investments in two entities
Apr 22,2017

Advanced Enzyme Technologies announced that the Board of Directors of the company at its meeting held on 22 April 2017 has approved the following -

Investment in Advanced Biodiesel by acquiring/ subscribing up to 15% of paid up share capital for an amount not exceeding Rs 3.75 crore. Investment by the Company in ABL will be made in a phased manner and will be completed in a period of 18 months.

Investment by way of subscription / purchase of share of Palm Techno Ventures Enzyme Sdn Bhd, Malaysia up to RM 200,000 (for up to 80% of the paid up capital of PTVE). The said investment is expected to be completed by end of June 2017. Upon such investment PTVE shall become subsidiary of the Company.

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One Crore MGNREGA assets geotagged
Apr 22,2017

Mahatma Gandhi NREGS has reached a new milestone today by geotagging one Crore assets and putting them in public domain.

The scale of rural assets created under MGNREGA is very large. Since the inception of the programme in financial year 2006-07, about 2.82 Crore assets have been created under the programme. On an average, about 30 Lakh Assets are created annually which includes a variety of works such as water harvesting structures, plantations, rural infrastructure, flood control measures, individual assets for sustainable livelihood, community infrastructure and so on. The process of geotagging is going on and all assets under MGNREGS will be geotagged. Special focus is being given to geotag Natural Resource Management works especially the water related works.

GeoMGNREGA is a unique endeavor of the Ministry of Rural Development in association with National Remote Sensing Centre (NRSC), ISRO and National Informatics Centre. A Memorandum of Understanding (MoU) was signed by Ministry of Rural Development with NRSC on 24th June 2016 for geo-tagging the assets created under MGNREGS in each gram panchayat. Strength of Space technology has been leveraged.

Pursuant to the signing of MoU, training manuals were developed in consultation with NRSC. Training was imparted to around 2.76 Lakh personnel across the country with the help of National Institute of Rural Development and Panchayati Raj (NIRD&PR). The training programme was conducted in the last week of August, 2016. The geotagging exercise started from 1st September, 2016. One Crore assets have been geotagged and put in public domain in the last seven months. It is expected that the exercise will lead to greater transparency and ensure accountability at field level.

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Quantum Build-Tech announces resignation of company secretary & compliance officer
Apr 22,2017

Quantum Build-Tech announced that Shivani Sarda, Company Secretary & Compliance Officer has submitted resignation dated 10 April 2017 from her position and the same has been accepted by the Management.

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