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Bajaj Electricals allots 66,250 equity shares
Mar 17,2017

Bajaj Electricals has allotted 66,250 equity shares of Rs.2 each, fully paid-up, in the Company to 21 Employee Stock Option Grantees on their exercise of options granted under ESOP. Post this allotment, the Issued, Subscribed and Paid-up Capital of the Company now comprise of 10,12,90,176 equity shares of Rs.2 each fully paid up amounting to Rs.20,25,80,352/-.

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MTNL jumps as parliamentary panel suggests merger with BSNL
Mar 17,2017

Meanwhile, the S&P BSE Sensex was up 95.97 points, or 0.32% to 29,681.82.

The S&P BSE Small-Cap index was down 9.31 points, or 0.07% to 13,997.09.

On the BSE, 12.19 lakh shares were traded in the counter so far, compared with average daily volumes of 8.10 lakh shares in the past one quarter. The stock had hit a high of Rs 26 and a low of Rs 25 so far during the day. The stock hit a 52-week high of Rs 26.50 on 8 March 2017. The stock hit a 52-week low of Rs 15 on 22 November 2016.

The stock had outperformed the market over the past one month till 16 March 2017, rising 11.47% compared with 5.08% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 33.15% as against Sensexs 11.69% rise.

The small-cap company has equity capital of Rs 630 crore. Face value per share is Rs 10.

According to media reports, the Committee on Petitions, chaired by Member of Parliament from the Bharatiya Janata Party (BJP), Bhagat Singh Koshyari, in its report tabled in Lok Sabha on Thursday, 16 March 2017, said the merger would give BSNL and MTNL a chance to compete against private sector players. The synergies and advantages inherent in an integrated national telecom infrastructure will pave the way for lower cost of investment and greater combined ability to face competition, the report added.

MTNL reported net loss of Rs 819.96 crore in Q3 December 2016 compared with net loss of Rs 671.59 crore in Q3 December 2015. Net sales fell 8.7% to Rs 686.76 crore in Q3 December 2016 over Q3 December 2015.

State-run MTNL provides fixed-line telecommunication service in the two metropolitan cities of Delhi and Mumbai. The company also provides 3G mobile services and internet services in these two cities.

The Government of India currently holds 56.25% stake in MTNL (as per the shareholding pattern as on 30 December 2016).

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Volumes jump at Joonktollee Tea & Industries counter
Mar 17,2017

Joonktollee Tea & Industries clocked volume of 3.17 lakh shares by 13:13 IST on BSE, a 451.88-times surge over two-week average daily volume of 1,000 shares. The stock rose 5% to Rs 177.60.

Cosmo Films notched up volume of 24.67 lakh shares, a 229.36-fold surge over two-week average daily volume of 11,000 shares. The stock rose 3.26% to Rs 391.80.

Info Edge (India) saw volume of 9.68 lakh shares, a 94.78-fold surge over two-week average daily volume of 10,000 shares. The stock rose 0.18% to Rs 840.

Rupa & Company clocked volume of 18.49 lakh shares, a 90.64-fold surge over two-week average daily volume of 20,000 shares. The stock jumped 20% to Rs 351.90.

Dr. Lal PathLabs saw volume of 4.03 lakh shares, a 22.03-fold rise over two-week average daily volume of 18,000 shares. The stock rose 0.54% to Rs 949.90.

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Rank of Andhra Pradesh in Human Development Index among 21 major States of India was 9 in 2011-12
Mar 17,2017

According to the report Human Development in Andhra Pradesh prepared for Government of Andhra Pradesh by Center for Economic and Social Studies in 2016, the rank of Andhra Pradesh in Human Development Index(HDI) among 21 major States of India was 12 in 2004-05 and 9 in 2011-12. Moreover, as per the said report, the districts of Andhra Pradesh with a lower HDI in 2004-05 have improved their HDI status faster compared to the other districts by 2011-12. This reflects declining inequalities in HDI across the districts. The same is evident in case of the three components of HDI, viz., standard of living, health and education.

The initiatives taken by the Government to further increase the HDI in the country include:

n++ Promoting institutional deliveries, strengthening of health infrastructure, training of service providers in management of emergency obstetric care and skilled birth attendance, providing ante-natal and post-natal care, organising village health and nutrition days, engagement of an accredited social health activist (ASHA) in the community, establishing referral systems including emergency referral transport, training of service providers in integrated management of neo-natal & childhood illness, training of ASHAs in Home based new born care, training of health care providers in essential new-born care and resuscitation, providing new-born care at all levels, promoting exclusive breastfeeding and complementary feeding, establishment of nutritional rehabilitation centres, strengthening routine immunization programme, focussing on reduction in morbidity and mortality due to acute respiratory infections (ARI) and diarrhoeal diseases, introduction of name based web enabled tracking of pregnant women & children (Mother and Child Tracking System) to ensure antenatal, intra-natal and postnatal care to pregnant women and care to new-borns, infants and children.

n++ Enactment and operationalisation of Right of Children to Free and Compulsory Education (RTE) Act, 2009, SarvaShikshaAbhiyan, Mid-Day-Meal Scheme, National Programme for Education of Girls at Elementary level, setting up of Kasturba Gandhi BalikaVidyalaya, MahilaSamakhya programme, scheme for providing quality education in Madarasas.

n++ Improving the purchasing power of the people through various income generating schemes including Mahatma Gandhi National Rural Employment Guarantee Scheme.

n++ The National Food Security Act, 2013 aims to provide for food and nutritional security in human life cycle approach, by ensuring access to adequate quantity of quality food at affordable prices to people to live a life with dignity.

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ITC leads gainers on BSEs A group
Mar 17,2017

ITC rose 6.10% at Rs 284.55. The stock topped the gainers in A group. On the BSE, 30.39 lakh shares were traded on the counter so far as against the average daily volumes of 14.60 lakh shares in the past two weeks.

Mahindra & Mahindra Financial Services rose 5.26% at Rs 309.95. The stock was the second biggest gainer in A group. On the BSE, 4.52 lakh shares were traded on the counter so far as against the average daily volumes of 1.52 lakh shares in the past two weeks.

Tata Elxsi rose 4.05% at Rs 1,504.15. The stock was the third biggest gainer in A group. On the BSE, 1.08 lakh shares were traded on the counter so far as against the average daily volumes of 26,000 shares in the past two weeks.

Bharat Financial Inclusion rose 3.68% at Rs 833.85. The stock was the fourth biggest gainer in A group. On the BSE, 5.84 lakh shares were traded on the counter so far as against the average daily volumes of 5.90 lakh shares in the past two weeks.

Godrej Properties rose 4.06% at Rs 392.40. The stock was the fifth biggest gainer in A group. On the BSE, 85,000 shares were traded on the counter so far as against the average daily volumes of 89,000 shares in the past two weeks.

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Great Eastern Shipping Company contracts to acquire a Supramax Dry Bulk Carrier
Mar 17,2017

Great Eastern Shipping Company has signed a contract to buy a Supramax Dry Bulk Carrier of about 52,450 dwt. The 2006 built vessel is expected to join the Companys fleet in Q1 FY18.

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Great Eastern Shipping Company contracts to acquire a Supramax Dry Bulk Carrier
Mar 17,2017

Great Eastern Shipping Company has signed a contract to buy a Supramax Dry Bulk Carrier of about 52,450 dwt. The 2006 built vessel is expected to join the Companys fleet in Q1 FY18.

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PTC India announces appointment of director
Mar 17,2017

PTC India announced that Mahesh Kumar Mittal, Director (Finance) of NHPC, has been appointed as Nominee Director of NHPC (NHPC) (DIN - 02889021) on the Board of PTC India Ltd w.e.f 15 March 2017, and (ii). Jayant Gokhale, F.C.A. (DIN- 00190075) has been appointed as Independent Director on the Board of PTC India w.e.f 16 March 2017.

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D B Corp allots 6800 shares
Mar 17,2017

D B Corp announced that the Compensation Committee of the Board of Directors of the Company has allotted 6800 shares of Rs. 10/- each on exercise of 6800 stock options under DBCL-ESOS- 2010 and DBCL-ESOS- 2011 - Tranches 1, 3, 4 and 5 Schemes to its employees covered under the scheme.

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Clarification by Central Board of Direct Taxes on rollback provision in the revised India-Korea Double Taxation Avoidance Agreement
Mar 17,2017

The Central Board of Direct Taxes (CBDT) has clarified that under the revised India-Korea Double Taxation Avoidance Agreement (DTAA), applications for bilateral Advance Pricing Agreement (APA) involving international transactions with Associated Enterprises in Korea for the APA period beginning Fiscal Year 2017-18 can be filed along with request for rollback provision in prescribed form. Such requests for rollback provision shall be processed in accordance with the provisions of Income Tax Act i.e. section 92CC(9A) of the Income Tax Act 1961, and the applicable Income Tax rules in this regard. Inclusion of rollback provision in such bilateral APAs would also be subject to the applicable regulations in Korea. The CBDT has issued the present clarification in response to the queries received from taxpayers regarding availability of rollback provision in respect of bilateral APA applications for APA period beginning F.Y 2017-18.

The existing DTAA between India and Korea was signed on 19th July, 1985 and was notified on 26th September 1986. A revised DTAA between India and Korea for the Avoidance of Double Taxation and the Prevention of Fiscal evasion with respect to taxes on income was signed on 18th May 2015 and entered into force on 12th September 2016. Amongst other changes, the revised DTAA incorporates para 2 in Article 9 (Associated Enterprises). Article 9(2) of the revised India-Korea DTAA provides recourse to the taxpayers of both countries to apply for Mutual Agreement Procedure (MAP) in transfer pricing disputes as well as apply for Bilateral APAs for APA period beginning F.Y. 2017-18.

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Rupa & Company hits 52-week high after large bulk deal
Mar 17,2017

Meanwhile, the S&P BSE Sensex was up 67.98 points, or 0.23% to 29,653.83

Bulk deal boosted volume on the scrip. On the BSE, 17.78 lakh shares were traded in the counter so far, compared with average daily volumes of 5,418 shares in the past one quarter. The stock had hit a low of Rs 295 so far during the day. The stock hit a 52-week low of Rs 244 on 10 January 2017.

The stock had outperformed the market over the past one month till 16 March 2017, rising 18.13% compared with 5.08% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 14.6% as against Sensexs 11.69% rise.

The small-cap company has equity capital of Rs 7.95 crore. Face value per share is Re 1.

Net profit of Rupa & Company rose 20.65% to Rs 17 crore on 7.5% decline in net sales to Rs 208.57 crore in Q3 December 2016 over Q3 December 2015.

Rupa & Company is a leading undergarments manufacturer and a leading hosiery and knitwear company in India.

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GMR Infra corrects on profit booking
Mar 17,2017

Meanwhile, the S&P BSE Sensex was up 71.86 points, or 0.24% to 29,657.71.

On the BSE, 9.50 lakh shares were traded in the counter so far, compared with average daily volumes of 18.81 lakh shares in the past one quarter. The stock had hit a high of Rs 17.40 so far during the day, which is also a 52-week high for the counter. The stock had hit a low of Rs 16.50 so far during the day. The stock hit a 52-week low of Rs 10.25 on 9 November 2016.

The stock had outperformed the market over the past one month till 16 March 2017, rising 25% compared with 5.08% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 46.88% as against Sensexs 11.69% rise.

The large-cap infrastructure company has equity capital of Rs 603.59 crore. Face value per share is Re 1.

Shares of GMR Infrastructure rose 8.18% in three trading sessions to settle at Rs 17.20 yesterday, 16 March 2017, from its close of Rs 15.90 on 10 March 2017.

Meanwhile, GMR Infrastructure announced after market hours yesterday, 16 March 2017, that Delhi International Airport, a GMR led consortium, has signed a land license agreement with Airbus for setting up Indias first full flight simulator at the Aerocity ‐ Terminal District of Indira Gandhi International (IGI) Airport. On the 1.11 acre of land, the France based company will set up Indias first full flight simulator to address the growing demand of trained pilots and aircraft maintenance engineers. Airbus will also establish its India Headquarter within the same development.

The land license agreement was signed today between DIAL and Airbus India for a period till 31st March, 2036. DIAL has received the initial security deposit and ADC and will also receive an annual license fee from this license Airbus India had decided to open its full flight training centre at Delhi Aerocity ‐ Terminal district keeping in mind the growing requirements of its customers as Delhi is a key base for most of the airlines ‐ Air India, Indigo and Vistara, the company said in a statement.

GMR Infrastructure reported net loss of Rs 381.93 crore in Q3 December 2016 as against net profit of Rs 40.01 crore in Q3 December 2015. Net sales rose 250.45% to Rs 85.58 crore in Q3 December 2016 over Q3 December 2015.

GMR Group is a leading global infrastructure conglomerate with interests in Airport, Energy, Transportation and Urban Infrastructure.

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GIPCO inches up after commissioning Kuchhdi wind farm
Mar 17,2017

The announcement was made after market hours yesterday, 16 March 2017.

Meanwhile, the S&P BSE Sensex was up 98.49 points or 0.33% to 29,684.34

On the BSE, 13,000 shares were traded on the counter so far as against the average daily volumes of 35,812 shares in the past one quarter. The stock had hit a high of Rs 102.55 and a low of Rs 101 so far during the day. The stock had hit a 52-week high of Rs 116.50 on 31 March 2017. The stock had hit a 52-week low of Rs 75.90 on 16 March 2016.

The stock had underperformed the market over the past one month till 16 March 2017, falling 4.67% compared with 5.08% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 2.54% as against Sensexs 11.69% rise.

The small-cap power generation firm has equity capital of Rs 151.25 crore. Face value per share is Rs 10.

Gujarat Industries Power Company (GIPCO) said that that company has commissioned 21 megawatts (MW) wind turbine generators (WTGs) at the Kuchhdi wind farm site, Gujarat for which Certificate of Commissioning has been issued by Gujarat Energy Development Agency(GEDA).

Gujarat Industries Power Companys net profit rose 26.81% to Rs 41.29 crore on 11.11% fall in total income to Rs 310.11 crore in Q3 December 2016 over Q3 December 2015.

Gujarat Industries Power Company is engaged in the business of electrical power generation.

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US stocks end mostly lower
Mar 17,2017

U.S. stocks retreated on Thursday, 16 March 2017 to close lower, giving back some of the previous days Federal Reserve-inspired gains as a fall for health-care and utilities stocks pushed the market into negative territory.

The Dow Jones Industrial Average declined 15.55 points, or less than 0.1%, to finish at 20,934.55. The Nasdaq Composite Index turned positive in the final minutes of trading, and finished up 0.71 points at 5,900.76. The S&P 500 index SPX, -0.16% finished down 3.88 points, or 0.2%, at 2,381.38.

Utilities led losing sectors. The financials, tech, consumer-discretionary and consumer staples sectors finished fractionally higher out of the broad-market benchmarks 11 sectors.

Shares of DuPont declined 1.1%, Chevron Corp. shares slid 0.9%, and Merck & Co.shares fell 0.8%.

The Fed on Wednesday, as expected, lifted its benchmark interest rate by 25 basis points to a range of 0.75% to 1%. It also stuck to its forecast for just two more rate hikes this year, even as some economists thought the central bank would signal it was ready to pick up the pace of rate hikes. Higher interest rates tend to boost the dollar. Stock markets rallied on Wednesday after the Federal Reserve raised interest rates by a quarter-point. The central banks anticipated path of future rate increases was seen as less hawkish than expected by market participants, giving a boost to equities.

The ICE Dollar Index fell 0.3% on Thursday, building on a roughly 1.2% slump from Wednesday.

Among economic data expected on Thursday, weekly jobless claims fell by 2,000 to 241,000 in mid-March, as layoffs remained near the lowest level in decades, in line with expectations. Separately, the Federal Reserve Bank of Philadelphias monthly index on regional manufacturers fell to 32.8 in March from 43.3 in Februaryn++the highest reading in 33 years.

News from Washington did little to encourage the notion that tax reform will be a quick and easy process; President Trumps proposed budget was met with resistance and three House Republicans voted against the GOP health care bill in a committee vote, casting doubt on the legislations chances on the floor of the House.

Bullion metals jumped across the board on Thursday, 16 March 2017 with gold prices notching their highest finish in two weeks, on the heels of the dollars decline, which came after the U.S. Federal Reserve raised interest rates, but struck a less hawkish tone than expected.

April gold rallied $26.40, or 2.2%, to settle at $1,227.10 an ounce, with prices ending at their highest level since March 2. The metal scored its biggest one-day percentage gain since June of last year. That is when the U.K. announced its decision to exit from the European Union. Silver jumped 40.7 cents, or 2.4%, to finish at $17.33 an ounce, marking its highest dally percentage gain since January.

Oil prices finished with a modest loss on Thursday, 16 March 2017, a day after a big rally, as rising output from the U.S. remained a threat to efforts by other major producers to rebalance the market. Still, prices continued to find some support following data on Wednesday showing the drop in U.S. crude supply in 10 weeks, as well as weaker dollar in the wake of the Federal Reserves less-hawkish-than-expected rate announcement.

West Texas Intermediate crude oil for April delivery edged down by 11 cents, or 0.2%, to settle at $48.75 a barrel after rallying by 2.4% on Wednesday. May Brent crude shed 7 cents, or 0.1%, to $51.74 a barrel on the ICE Futures exchange in London.

On Friday, investors will receive February Industrial Production (consensus 0.2%) at 9:15 ET, while February Leading Indicators (consensus 0.5%) and the University of Michigan Sentiment Index for March (consensus 96.8) will cross the wires at 10:00 ET.

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Surplus Coal availability has resulted in Declining of Coal Imports: Shri Piyush Goyal
Mar 17,2017

Union Minister of State (I/C) for Coal, Power, New & Renewable Energy and Mines, Shri Piyush Goyal, said that the total coal imports have been consistently reducing over the last three years. In 2016-17, as on 31 December 2016, the figure has reduced to 144.87 MT as compared to 146.12 MT for the same period in 2015-16. Further, the total coal imports in 2015-16 was 199.9 MT as compared to 217.8 MT in 2014-15.

In the power sector, the coal being imported for blending with domestic coal has been decreasing. The quantity of coal imported by the power utilities in 2015-16 decreased to 37.1 MT from 48.5 MT in 2014-15.

In 2016-17, up to 31 January 2017, the power utilities have imported 16.6 MT coal as against import of 31.6 MT during the same period in 2015-16. For 2016-17, estimated coal demand on provisional basis has been assessed to be 884.87 MT, of which respective demand of steel, cement and captive power including fertilizer sector, has been assessed to be 56.62 MT, 34.37 MT & 91.11 MT respectively.

In 2016-17, there has been decline of coal stocks at pitheads of CIL as well as at Power Plants, as shown below:

 Year /Coal Stocks

(MT)

2014-152015-162016-17
(as on 05.03.17)
Pit Head (CIL)53.4757.6456.33Thermal Power Plants26.1038.8726.48

Shri Goyal further informed that to enhance production from the coal mines and introduce the state of the art technology along with global best practices, 39 projects (9 projects post 2014) with Surface miners, Powered Support Long Wall (PSLW) and Continuous Miner (CMs) have been sanctioned and implemented in CIL as an ongoing process till now.

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