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Idea Cellular allots equity shares
Dec 27,2016

Idea Cellular announced that the Nomination and Remuneration Committee of the Company has vide its circular resolution dated 26 December 2016 allotted 366,900 Equity Shares of Rs. 10/- each to the Option Grantees, pursuant to the exercise of Stock Options granted under the Companys Employee Stock Option Scheme, 2006 (ESOS-2006).

Further, the Company has informed that post the said allotment, the Equity Share Capital of the Company stands increased to 3,60,16,89,265 equity shares of Rs. 10/- each aggregating to Rs. 36,01,68,92,650/-.

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Bombay Burmah Trading Corporation issues Commercial Paper aggregating Rs 50 crore
Dec 27,2016

Bombay Burmah Trading Corporation announced that the Corporation has issued Commercial Paper for an aggregate amount of Rs. 50 crore on 23 December 2016 for 81 days and having maturity date March 14, 2017. This is in addition to the CP issued in November, 2016 for Rs. 50 crores

Rating agency, India Ratings & Research has granted rating of A1+ for issue of Commercial Paper by the Corporation upto Rs. 100 crore.

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Goodluck Steel Tubes reschedules board meeting to consider preferential issue of warrants
Dec 27,2016

Goodluck Steel Tubes announced that a meeting of the Board of Directors of the Company which was scheduled be held on 27 December 2016, inter alia, to issue and allot warrants convertible into equal number of equity shares to promoters on preferential basis is being postponed.

Now the meeting is rescheduled for 28 December 2016 at Corp. Office of the Company to consider the aforesaid matters.

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Seventy per cent of Tribal Affairs Budget already utilized
Dec 27,2016

Union Minister for Tribal Affairs Shri Jual Oram has said that 70% of his Ministrys budget for the year 2016-17 has already been released. Addressing a press conference about the achievements of his Ministry during the year 2016 in New Delhi today, the Minister said his Ministry has paid special attention to proper implementation of Forest Rights Act. He said as per information received from State Governments till October 2016, about 16.78 lakh individual (Forest Rights) titles have been granted over an area of 55.43 lakh acres of forest land. Further, 48,192 community (Forest Rights) titles have been distributed over an area of about 47 lakh acres of forest land.

Referring to the revision of list of scheduled tribes the Minister informed that recently Irular (including Villi and Vettaikaran) has been included in the ST list in Puducherry. He further said that to modify the list of Scheduled Tribes (STs) in Assam, Chhattisgarh, Jharkhand, Tamil Nadu and Tripura, a bill namely the Constitution (Scheduled Castes and Scheduled Tribes) Orders (Amendment), Bill 2016 has been introduced in Lok Sabha during the recent winter session of Parliament.

Shri Oram said his Ministry is collaborating with Ministry of Skill Development and Entrepreneurship (MSDE) to build a framework suited to the need and requirement of tribal people. It is planned for setting up one Multi-Skilling Institute in each of 163 priority (tribal concentrated) districts. Infrastructure funding will be shared by Ministry of Tribal Affairs and State Govt. (50:50). Recurring cost component will be funded by MSDE, under Pradhan Mantri Kaushal Vikas Yojana (PMKVY). Details of the collaboration are being worked out.

The Union Tribal Affairs Minister referred to the setting up of National Resource Centre on Tribal Livelihood (Vanjeevan) at Bhuvneshar on 22nd of this month. He said Vanjeevan will serve as an apex central institution within Ministry of Tribal Affairs to act as research and technical hub to further socio-economic development of tribal communities through comprehensive interaction of the 3Es-employment, employability and entrepreneurship. The resource center would cater to the development and promotion of sustainable livelihood avenues in the tribal areas through entrepreneurship and skill up-gradation. Vanjeevan will also forge linkages and build upon the skill building efforts of the other Central Ministries/Departments such as Ministry of Skill Development and Entrepreneurship, Ministry of Rural Development, Ministry of Micro-Small and Medium Enterprises etc.

Referring to the Minimum Support Price (MSP) to Minor Forest Produce (MFP) Shri Oram said that last month the coverage of area of the scheme has been extended beyond Schedule V States and now the scheme is applicable in all States. He said in addition to the existing 12 MFPs another 14 items have been included in the scheme. States have also been given freedom for fixing MSP 10% above or below the MSP rate decided by Ministry of Tribal Affairs.

About sickle cell anemia Shri Oram said his Ministry has taken initiative to arrest its spread so that sickle cell carriers (patients) can be cared for, and future generations can be saved from this scourge. A protocol for Sickle Cell Management was issued in March 2015 with the objective to control the spread of the disease. In this regard, workshops were conducted in States in collaboration with Department of Biotechnology for mapping of incidence of Sickle Cell Trait and disease among tribal people all over the country through State Governments. About 1.1 crore children and youth have been screened so far. A revised protocol has been issued to the States in November 2016 after consultation with Department of Health Research. As per this, apart from screening of children and youth, screening of pregnant women is also to be done, and in case one individual is identified in the family, then family members will also be screened. The programme also provides for counseling of sickle cell carriers, and management of patients with sickle cell disease, the Minister added.

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Board of Balmer Lawrie & Company allots bonus shares
Dec 27,2016

Balmer Lawrie & Company announced that at the meeting of the Board of Directors of the Company held on 27 December 2016, the following items were inter alia approved by the Board:

1. Allotment of 8,55,01,923 new Equity Bonus Shares of Rs. 10/- each as fully paid up Equity Shares of the Company to the shareholders of the Company as on the record date fixed for the purpose i.e. 27 December 2016.

2. Appointment of Indrani Kaushal as Government Nominee Director of the Company.

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Bombay Burmah gains after raising funds
Dec 27,2016

The announcement was made during market hours today, 27 December 2016.

Meanwhile, the S&P BSE Sensex was up 417.92 points or 1.62% at 26,225.02.

On the BSE, 4,630 shares were traded on the counter so far as against the average daily volumes of 29,692 shares in the past one quarter. The stock had hit a high of Rs 494.15 and a low of Rs 474 so far during the day.

The stock had hit a record high of Rs 673.40 on 5 October 2016 and a 52-week low of Rs 311 on 12 February 2016. It had underperformed the market over the past one month till 26 December 2016, sliding 6.75% compared with the Sensexs 1.94% fall. The scrip had also underperformed the market in past one quarter, declining 21.35% as against the Sensexs 8.79% fall.

The mid-cap company has equity capital of Rs 13.95 crore. Face value per share is Rs 2.

Bombay Burmah Trading Corporation said it has issued commercial paper (CP) for an aggregate amount of Rs 50 crore on 23 December 2016. The CP is for a duration of 81 days having maturity date 14 March 2017. This is in addition to the CP issued in November 2016 for Rs 50 crore.

India Ratings & Research has granted rating of A1+ for issue of CP by Bombay Burmah upto Rs 100 crore.

Bombay Burmah Trading Corporation reported net loss of Rs 9.98 crore in Q2 September 2016, higher than net loss of Rs 6.41 crore in Q2 September 2015. Net sales rose 10.4% to Rs 66.75 crore in Q2 September 2016 over Q2 September 2015.

Bombay Burmah Trading Corporation has diversified its interests into tea, coffee, other plantation products, biscuit and dairy products, auto electric and white goods parts, weighing products, horticulture and landscaping services, healthcare products (viz.) dental, orthopaedic and opthalmic products.

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Kaya gains after subsidiary completes acquisition
Dec 27,2016

The announcement was made after market hours yesterday, 26 December 2016.

Meanwhile, the BSE Sensex was down 376.85 points, or 1.46%, to 26,183.95.

On the BSE, so far 52,000 shares were traded in the counter, compared with average daily volumes of 3,567 shares in the past one quarter. The stock had hit a high of Rs 682.85 and a low of Rs 657.05 so far during the day.

The stock hit a 52-week high of Rs 1,229 on 6 January 2016. The stock hit a record low of Rs 650 on 24 November 2016. The stock had underperformed the market over the past 30 days till 26 December 2016, falling 8.63% compared with the 1.94% fall in the Sensex. The scrip had also underperformed the market in past one quarter, falling 18.81% as against Sensexs 8.56% decline.

The small-cap company has equity capital of Rs 13 crore. Face value per share is Rs 10.

Kaya announced that the company is in receipt of letter dated 25 December 2016 issued by Kaya Middle East DMCC (Kaya DMCC) confirming the settlement of consideration amount for acquiring 75% beneficial interest in Minal Medical Centre, Dubai and Minal Specialized Clinic Dermatology, Sharjah. Hence, the corporate guarantee provided by the company stands cancelled on payment of the consideration amount by Kaya DMCC.

On 27 September 2016, the company had announced the corporate guarantee provided by it on behalf of Kaya DMCC, wholly-owned subsidiary of the company, for payment of AED 22.5 million by Kaya DMCC for acquiring 75% beneficial interest in Minal Medical Centre, Dubai and Minal Specialized Clinic Dermatology, Sharjah.

On a consolidated basis, net profit of Kaya rose 1.94% to Rs 2.63 crore on 15.62% rise in net sales to Rs 102.28 crore in Q2 September 2016 over Q2 September 2015.

Kaya operates a range of Kaya Skin Clinics across India and Middle East. It also has 100 plus product retail outlets called Kaya Skin Bar in India.

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Link Financial Data for Determining Creditworthiness: CII
Dec 27,2016

Demonetization has created an enormous opportunity to channelize public savings into productive assets. Linking financial data and consolidating existing data for SMEs and corporates can provide banks with the necessary information to assess creditworthiness of borrowers, said the Confederation of Indian Industry (CII). This can also enable banks to devise a tailored interest rate policy by differentiating borrowers.

n++A digital infrastructure providing comprehensive data to financial institutions would help smoothen access to credit from the borrowers angle and assessment of credit worthiness from the lenders side. It would supply identification, financial information, credit information and other information related to governance of a company,n++ said Mr. Chandrajit Banerjee, Director General, CII. n++The data is present in the system, though the ownership is with different Government bodies. It is possible to thread these data accesses together for a well-connected digital infrastructure that can enable banks to lend to credible borrowers. Naturally, this is also a mechanism to avoid creation of NPAs at a later date.n++

CII has suggested that abundant data on SMEs and corporates through various sources can be made available to the Banks and other lending institutions. The banks will benefit from authentic financial and other data to accurately identify the right customers. Customers will gain from hurdle-less access to credit. The banks may choose to offer loans at varied interest rates depending on the strength of the data of the customer, said CII.

The data for establishing identification of the borrowing entity can be procured through PAN, TIN/CIN/ GSTIN (post launch of GST), Articles of Association (AoA), and Memorandum of Association (MoA). Financial information required by the banks to assess the liquidity condition of the entity can be available from sources like annual returns which are available with Ministry of Corporate Affairs (MCA) as scanned documents, Form 26 AS with Income Tax authorities, and Provident Fund data with Employees Provident Fund Organisation (EPFO).

Property Tax, Utility Bills, Securities data etc. can also be included in the comprehensive digital database. Credit information is available with Central Repository of Information on Large Credit (CRILC). Other information like shareholding pattern, list of directors etc. is available with MCA. All the data which exists in independent silos needs consolidation to provide the requisite information to the lending entity.

There have been multiple efforts to collate data in India in the past. The Ministry of Micro, Small and Medium Enterprises (MSME) recently promulgated orders for creation of an MSME databank through self-reported forms. The Udyog Aadhar will generate a single business identification code for classifying companies by industry and activity.

CII proposes a 3-step process to make the data available within the larger ecosystem of digital infrastructure.

To start with, the data needs to be made available digitally by strengthening the existing digital data sources as required by expanding CRILC coverage to include Mutual Funds (MF), Financial Institutions (FIs), and External Commercial Borrowings (ECBs). Providing digital data instead of scanned documents (e.g., AoA, MoA etc) as also investing in making existing data digitally available by providing existing data (e.g., income tax, CENVAT, PF, property tax) directly to banks. It would help to, ab initio, architect new sources of information to provide digital access to information like information utility (under bankruptcy law), registry of securities (SARFAESI), GSTN and to use Account Aggregation guidelines as core of consortium / multiple banking.

The second step is to design the architecture for data sharing by reaching an agreement on mode of data sharing (e.g., Application Programme Interface (API) integration of each institution directly with banks or a central integrating agency to co-ordinate and share consolidated information). Developing standard architecture for data sharing (e.g., API definitions, encryption protocols) and creation of standardized authentication and consent mechanisms is also required.

The final step would be to build supporting infrastructure through APIs, build supporting consent and authentication architecture and cyber security architecture to ensure data security.

A robust credit data infrastructure will allow banks to better analyse the financial data by way of triangulation of information and also provide greater industry insights. While for larger corporates this would enhance banks ability to access credit worthiness, it would also lower costs and potentially ease the flow of credit to MSME segmentn++ said Ms. Shikha Sharma, Chairperson, CII National Committee on Banking and Managing Director & CEO, Axis Bank

Digital data can help significantly enhance access to credit for SMEs and to monitor corporate credit performance. For instance, a kirana shop owner wants to apply for a loan. She approaches the bank website and authenticates herself using Aadhar and also provides PAN for business verification. She also provides consent to the bank to get access to Financial Statements, Income tax filing & GST filing, Bank statements and credit history. The Bank obtains data digitally from concerned authorities through API calls, makes an analysis and offers a loan on interest rates as determined by the data.

n++Creating suitable and comprehensive digital data infrastructure will provide banks the ability to identify fraud/ data manipulation and stress early while help corporates get access to cheaper creditn++ said Mr. Arun Tiwari, Co-Chair, CII National Committee on Banking and Chairman & Managing Director, Union Bank of India

Such a system is used in some other countries and can greatly facilitate financial institutions to avoid undue risk in disbursing loans in the wake of demonetization, said CII.

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Noida-Greater Noida Metro gets Rs.406 cr boost from NCR Planning Board
Dec 27,2016

National Capital Region Planning Board (NCRPB) has begun to release funds for the Noida-Greater Noida Metro Project by disbursing the first loan installment of Rs. 406 cr, giving a fillip to speedy execution of this important metro project.

NCRPB had earlier sanctioned a loan of Rs. 1,587 cr to Noida Metro Rail Corporation (NMRC) for the 29.70 km Noida-Greater Noida Metro Project that is estimated to cost Rs. 5,533 cr. This 20 year loan, including a moratorium of five years for repayment of loan carries an interest rate of 7% per year and an incentive of 0.25% for timely repayment of installments. The targeted date of completion of this section is April 2018.

Announcing the disbursement of the first installment of loan, Shri B.K.Tripathy, Member-Secretary, NCRPB said; n++Noida-Greater Noida metro link is important for enabling a seamless travel in National Capital Region, which the Board is committed to promote. Further release of funds to this important section depends on physical and financial progress of the section. NCR Regional Plan-2021 emphasised the need for strengthening connectivity between NCR towns. Metro is emerging as the most efficient, fast, smooth and eco-friendly mode of public transport in the core of NCR.n++

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Asian Oilfield Services spurts after subsidiary wins letter of intent for contract
Dec 27,2016

The announcement was made during trading hours today, 27 December 2016.

Meanwhile, the BSE Sensex was up 223.31 points, or 0.87%, to 26,030.41.

On the BSE, so far 4.86 lakh shares were traded in the counter, compared with average daily volumes of 1.39 lakh shares in the past one quarter. The stock had hit a high of Rs 121.40 and a low of Rs 107.90 so far during the day.

The stock hit a 52-week high of Rs 124 on 14 December 2016. The stock hit a 52-week low of Rs 27.90 on 12 February 2016. The stock had outperformed the market over the past 30 days till 26 December 2016, rising 41.97% compared with the 1.94% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 77.47% as against Sensexs 8.56% decline.

The small-cap company has equity capital of Rs 22.32 crore. Face value per share is Rs 10.

Asian Oilfield Services announced that one of its wholly-owned subsidiaries, Asian Oilfield & Energy Services DMCC, Dubai has received a binding letter of intent (LoI) for providing operations and maintenance services for an offshore production unit operating at an oil field in offshore Nigeria. The duration for services is 3 years with approximate value of $57 million. The contract finalisation for LoI is under progress.

Meanwhile, in a separate announcement during trading hours today, 27 December 2016, the company said that its board approved allotment of 95 lakh warrants, convertible into equity shares, at Rs 80 per warrant. The warants will be allotted on a preferential basis. The company will issue 50 lakh warrants to Oilmax Energy, a promoter company. The company will issue 45 lakh warrants to Balram Chainrai, a non-promoter.

On a consolidated basis, Asian Oilfield Services reported net loss of Rs 11.12 crore in Q2 September 2016 as against net profit of Rs 4.09 crore in Q2 September 2015. Net sales declined 94.72% to Rs 3.09 crore in Q2 September 2016 over Q2 September 2015.

Asian Oilfield Services is engaged in providing geophysical, drilling and well services to customers across the Indian sub-continent.

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Biocon to consider Q3 results
Dec 27,2016

Biocon announced that a meeting of the Board of Directors of the Company will be held on 24 January 2017, inter alia, to consider, approve and take on record, the un-audited financial results (both standalone and consolidated) of the Company for the quarter ended 31 December 2016 (Q3) amongst other routine matters.

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Board of Nucleus Software Exports to consider Q3 and 9M results
Dec 27,2016

Nucleus Software Exports announced that the Meeting of the Board of Directors of the Company would be held on 23 January 2017 for the following purpose:

1. To take on record the Audited Standalone Financial results of the company for the Quarter and nine months ended 31 December 2016.

2. To take on record the Unaudited Consolidated Financial results of the company for the Quarter and nine months ended 31 December 2016.

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Asian Oilfield Services Dubai subsidiary secures O&M contract in Nigeria
Dec 27,2016

Asian Oilfield Services announced that its subsidiary, Asian Oilfield & Energy Services DMCC, Dubai has received a binding Letter of Intent (LoI) for providing operations and maintenance services for an offshore production unit operating at an oil field in offshore Nigeria. The duration of the service is 3 years with approximate value of USD 57 million. The contract finalisation for LoI is under progress.

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Foods & Inns to hold EGM
Dec 27,2016

Foods & Inns announced that Extra Ordinary General Meeting (EGM) of the Company will be held on 20 January 2017.

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Sasken Comm advances after fixing record date for buyback
Dec 27,2016

The announcement was made after market hours yesterday, 26 December 2016.

Meanwhile, the S&P BSE Sensex was up 208.79 points or 0.81% at 26,015.89.

On the BSE, 846 shares were traded on the counter so far as against the average daily volumes of 8,666 shares in the past one quarter. The stock was volatile. The stock hit a high of Rs 403.75 and a low of Rs 395 so far during the day.

The stock had hit a 52-week high of Rs 448.40 on 21 December 2016 and a 52-week low of Rs 233.10 on 29 February 2016. It had outperformed the market over the past one month till 26 December 2016, sliding 0.09% compared with the Sensexs 1.94% fall. The scrip had also outperformed the market in past one quarter, advancing 13.27% as against the Sensexs 8.79% fall.

The small-cap company has equity capital of Rs 17.72 crore. Face value per share is Rs 10.

Sasken Communication Technologies (Sasken) on Saturday, 24 December 2016 announced to the stock exchanges that the buyback committee of the board of directors, at its meeting held on 23 December 2016, fixed the buyback price of Rs 410 per share and the total consideration for buyback at Rs 120.04 crore excluding the transaction costs. This represents 16.52% of the total issued and paid-up equity share capital of the company as on 31 March 2016.

Sasken Communication Technologies consolidated net profit fell 9.2% to Rs 9.58 crore on 7.4% decline in net sales to Rs 118.40 crore in Q2 September 2016 over Q2 September 2015.

Sasken Communication Technologies is a leader in providing engineering R&D and productized IT services to global tier I customers in the communications & devices, retail, insurance and independent software space.

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