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813 crore person days of job generated in last 3 years in Rural Schemes-Tomar
May 29,2017

The Ministry of Rural Development has created employment opportunities of more than 813 crore person days during the last three years (2014-17) in the schemes of MGNREGA, Pradhan Mantri AawasYojna, Grameen (PMAY-G) and in Pradhan Mantri Gram Sadak Yojna (PMGSY). Briefing the media here, Union Minister for Rural Development, Drinking Water & Sanitation and Panchayati Raj, Shri Narendra Singh Tomar said that during the last three years while 636.78 crore person days were generated under MGNEREGA, about 78 crore person days under PMGSY and 99 crore person days under PMAY. Apart from this, under Deen Dayal Upadhyay-Grameen Kaushal Yojana (DDY-GKY), 86,120 candidates were trained in the year 2014-15 and 54,196 got jobs. Similarly, in 2015-16, about one lakh thirty-five thousand candidates were placed after the skill training, while in 2016-17, the number of candidates getting placement is 84,900.

Shri Tomar said that in the current year, the Ministry of Rural Development proposes to train 5 lakh candidates with an assured placement of over 70 percent of these youth in Wage and Self Help employment programmes. He said that Rural Self Employment Training Institute (RSETIs) trained 4 lakh rural youth in 2016-17 for Self Employment.

Shri Tomar said that under MGNREGA during FY 2016-17, more than 1.23 crore assets have been geo tagged and placed in public domain and about 96% of wage payments were electronically credited into the accounts of the workers through DBT system. So far, 8.73 crore Aadhar number of workers have been seeded in NREGASoft (MIS) and 4.73 have been enabled for Aadhar Based Payment with their consent. He added that Job Card verification/updation was taken on priority basis during FY 2016-17 and more than 1 crore Job Cards have been deleted after verification.

On the subject of PMAY-G, Shri Tomar said that in line with the governments stated objective of n++Housing for Alln++ by 2022, the Government intends to provide houses to 1 crore poor people by 2019 in rural areas. A total of 34.82 lakh houses have been constructed during 2014-15 to 2015-16, against a target of 45.98 lakh houses under the erstwhile scheme of Indira Awaas Yojana (IAY). During 2016-17, a total of 32.14 lakh houses have been completed with an expenditure of Rs. 16,074 crore under the revamped scheme PMAY-G.

On PMGSY, the Minister said that the pace of construction of road has reached a record of 130 kms. per day, which is the highest average annual construction rate, in the last 7 years, with a record 47,447 kms of PMGSY roads constructed during 2016-17 thereby connecting 11,641 habitations, which implies providing connectivity of an average of 32 habitations every day, the highest ever in the last 7 years. He said, during 2016-17, n++Road Connectivity project in LWE Affected Areasn++ has been launched for construction of all-weather roads in 9 LWE states in 44 worst affected LWE districts and adjoining districts with estimated cost of Rs 11,725 crore. This would be completed by March, 2020.

Dwelling on the issues of drinking water and sanitation, Shri Tomar said that providing safe drinking water is one of the top most priority of the government and the Government is committed to providing tap water on a sustained basis in every household by 2030 as per the United Nations Sustainable Development Goals for which Rs 23,000 crore of central fund will be required annually till the target is achieved. The Minister said that the dream of Har Ghar Jal cannot be realized without the involvement of the citizens. Referring to the launch of National Water Quality Sub Mission on Arsenic and Fluoride to provide safe drinking water to about 28,000 affected habitations in the country by March 2021 with an outlay of Rs 25,000 crore, he said that there will be no discrimination of funds against any state to address the twin challenges of drinking water and sanitation. He said that sanitation coverage has increased from 42 percent 2014 to 64 percent in the current year and more that 4 crore toilets were constructed.

Shri Tomar said that under the 14th Finance Commission, Centre will be releasing more than 2 lakh crore rupees to Gram Panchayats for 5 years to undertake physical and social infrastructure projects in the villages. The Minister said that earlier about Rs 30,000 crore was allocated to the Panchayats in the 13th Finance commission, wherein Panchayats found it difficult to execute developmental projects in a holistic fashion. So far, Rs 51,234 crore were allocated to the states and 44 lakh panchayat functionaries were provided training.

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Jindal Steel & Power completes Integrated Steel Plant at Angul
May 29,2017

Jindal Steel & Power has dedicated its 6 MTPA IntegratedSteel Plant at Angul to the Nation.

JSPLs Integrated Steel Plant at Angul will provide direct employmentopportunities to over 30,000 people and indirect employment to over 1 lakh individuals. The completion of Integrated Steel Plant spread over 3500 acres at Angul, with an investment of Rs. 33,000 crore, ramps up JSPLs Iron & steel making capacities significantly.

The Integrated Steel Plant at Angul comprises of:
-Indias Largest 4 MTPA Blast Furnace
- Indias Largest 4 MTPA Sinter Plant, and a 2 MTPA Coke Oven
- Worlds First 2 MTPA Direct Reduced Iron (DRI) Plant based on CoalGasification Process (CGP)
- Worlds Largest Coal Gasification Plant for Steelmaking
- A 3 MTPA Steel Melting Shop (SMS)
- Worlds Largest 1.5 MTPA Bar Mill
- Indias most advanced 1.2 MTPA Plate Mill, capable of producingplates upto 5 Meter width
- Worlds Fastest 2.3 MTPA Billet Castor, (capacity speed 3.6 Meters /Minute)
- A 810 MW Captive Power Plant

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EID Parry (India) allots 1074861 equity shares
May 29,2017

The Committee of the Board of Directors of EID Parry (India) at its Meeting held on 28 May 2017 has allotted 1074861 Equity Shares of face value of Re.1/ each fully paid up to the equity shareholders of Parrys Sugar Industries. In terms of the Scheme, the shareholders of Parrys Sugar Industries have been allotted 2 equity shares of face value of Re.1 each of the Company for every 13 equity shares of face value of Rs.10 each held by them in Parrys Sugar Industries as on the Record date of 26 March 2017.

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Board of Omaxe has recommended final dividend on preference shares
May 29,2017

Omaxe announced that the Board of Directors of the Company at its meeting held on 28 May 2017, inter alia, has considered and recommended the final dividend of 0.1% on 25,00,00,000 0.1% Non-Cumulative, Non-Convertible, Redeemable Preference Shares of face value of Rs.10/- each and Re. 0.70 per share (7%) on 18,29,00,540 Equity Shares of Rs. 10/- each.

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Finolex Inds scales record high after strong Q4 outcome
May 29,2017

The result was announced after market hours on Friday, 26 May 2017.

Meanwhile, the S&P BSE Sensex was up 109.13 points, or 0.35%, to 31,137.34. The S&P BSE Mid-Cap index was off 29.54 points, or 0.2%, to 14,490.36.

On BSE, so far 9,163 shares were traded in the counter, compared with average daily volume of 28,498 shares in the past one quarter. The stock hit a high of Rs 624 in intraday trade so far, which is 52-week high for the counter. The stock hit a low of Rs 606 so far during the day. The stock hit a 52-week low of Rs 384.95 on 27 May 2016.

The mid-cap company has equity capital of Rs 124.10 crore. Face value per share is Rs 10.

Finolex Industries earnings before interest, taxation, depreciation and amortization (EBITDA) rose 54.4% to Rs 178.50 crore in Q4 March 2017 over Q4 March 2016. EBIDTA margin expanded to 17.56% in Q4 March 2017 from 12.48% in Q4 March 2016.

Finolex Industries said that the company has benefited from lower crude prices which have positively affected the raw material costs and aided better margins. Government initiaties as well as demand from agri and non-agri segments should push up growth in PVC pipe segment, Finolex Industries said.

Finolex Industries is Indias leading manufacturer of PVC-U pipes and fittings and the second largest manufacturer of PVC Resin.

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Jaypee Infratech appoints company secretary
May 29,2017

Jaypee Infratech has appointed Mohinder Paul Kharbanda as Company Secretary and Compliance Officers with effect from 01 June 2017.

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Board of Phoenix Lamps appoints CFO and Company Secretary
May 29,2017

The Board of Directors of Phoenix Lamps at its board meeting held on 27 May 2017 has appointed the following -

Appointed Medappa Gowda.J as Chief Financial Officer of the Company.

Appointed Gourish Hegde as Company Secretary & Compliance Officer of the Company.

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ONGC slips after poor Q4 outcome
May 29,2017

The result was announced after market hours on Friday, 26 May 2017.

Meanwhile, the S&P BSE Sensex was down 39.63 points or 0.13% at 30,988.58

On the BSE, 38,000 shares were traded on the counter so far as against the average daily volumes of 6 lakh shares in the past one quarter. The stock had hit a high of Rs 175.55 and a low of Rs 173.30 so far during the day. The stock had hit a 52-week high of Rs 212 on 31 January 2017 and a 52-week low of Rs 138.10 on 24 June 2016.

The large-cap company has equity capital of Rs 6416.62 crore. Face value per share is Rs 5.

ONGCs net profit rose 10.9% to Rs 17899.97 crore on 0.83% rise in total income to Rs 85455.85 crore in the year ended 31 March 2017 (FY 2017) over FY 2016.

On a consolidated basis, ONGCs net profit rose 63.94% to Rs 21478.34 crore on 5.57% rise in total income to Rs 152731.39 crore in FY 2017 over FY 2016.

In exploration segment, ONGC has achieved 35% rise in exploration performance in FY 2017 by making 23 discoveries, as against 17 discoveries in FY 2016. Of the 23 discoveries, 13 discoveries were made in onland (Nominaton-12, NELP-1) and 10 in offshore. (Nomination-7, NELP- 3). Out of 13 onland discoveries, 9 were monetized during the year itself having a potential of 0.218 million metric ton of oil equivalent (MMTOE) per year.

ONGCs overseas arm, ONGC Videsh production of oil and gas rose 44% to 12.803 MMTOE in FY 2017 over FY 2016. This increase in production was mainly contributed from the newly acquired stake in Vankor field in Russia which contributed 4.545 MMTOE during the year.

ONGC Videsh completed acquisition of 15% stake in Vankor Field located in East Siberia of the Russian Federation on 31 May 2016 from Rosneft Oil Company and subsequently acquired additional 11% stake on 28 October 2016. Vankor is Russias second largest field by production and accounts for 4% of Russian production. The daily production from the field is around 400,000 barrels per day of crude oil (bopd) and 19.76 Million Metric Standard Cubic Meter Per Day (MMSCMD) of gas on an average and ONGC Videshs share of daily production from Vankor (considering both the acquisitions) will be about 104,000 bopd of crude oil, and 5.138 MMSCMD of gas, totaling to 6.936 MMTOE per annum.

ONGC is Indias largest oil and gas exploration firm by sales. The Government of India held 68.07% stake in ONGC as per the shareholding pattern as on 31 March 2017.

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V2 Retail opens a retail store in Noida, U.P.
May 29,2017

V2 Retail has launched one operational retail store at Bhangel, Noida, Uttar Pradesh. With this, the Company has 38 retail stores in operation.

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NIIT Technologies appoints CEO Designate
May 29,2017

NIIT Technologies announced the appointment of Sudhir Singh as CEO designate.

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Glenmark Pharmaceuticals gets final approval for Nebivolol Tablets
May 29,2017

Glenmark Pharmaceuticals has been granted final approval by the United States Food & Drug Administration (U.S. FDA) for Nebivolol Tablets,2.5 mg, 5 mg, 10 mg and 20 mg, the generic version of Bystolicn++ Tablets, 2.5 mg, 5 mg, 10 mg and 20 mg, of Forest Laboratories, LLC [Forest]. With respect to 180-day generic drug exclusivity, theFDA noted that Glenmark was one of the first ANDA applicants to submit a substantially complete ANDA with a paragraph IV certification for Nebivolol Tablets, 2.5 mg, 5 mg, 10 mg, and 20 mg. Therefore, with this approval, Glenmark may be eligible for 180 days of generic drug exclusivity for Nebivolol Tablets, 2.5 mg, 5 mg, 10 mg, and 20 mg.

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Strides Shasun announces completion of USFDA inspection for its formulations facility
May 29,2017

Strides Shasun announced the completion of USFDA inspection of its formulations facility in Bangalore. The Company has been issued a Form 483 with 3 observations.

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Shares of PSP Projects get listed
May 29,2017

The equity shares of PSP Projects (Scrip Code: 540544) are listed effective 25 May 2017 and admitted to dealings on the Exchange in the list of T Group Securities.

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By 2022 the Government of India is committed to Double Farmers Income
May 29,2017

Union Minister of Agriculture and Farmers Welfare, Shri Radha Mohan Singh said that the Government of India has undertaken several new initiatives in the field of animal husbandry in Gujarat. Under Rashtriya Gokul Mission, on the lines of Gokul Gram Gir, Cow Sanctuary has been approved. This will be established in Dharampur, Porbandar under Livestock insurance coverage. Earlier only two milk animals were included , now 5 milk animals and 50 small animals are included. This scheme has been implemented in all the districts of the state, whereas earlier only 15 districts were included. During the year 2014-16, about 26,000 animals have been insured in the state. To fulfil the shortage of veterinarians, a veterinary college has been established in Junagadh. The Agriculture Minister was speaking at the inauguration ceremony of polytechnic at Kamdhenu University, Sabarkantha.

The Agriculture Minister said that it is a matter of immense pride that our country is number one in milk production in the world. In the year 2015-16, the growth rate of milk production has been 6.28 per cent due to which total production has reached 156 million tonnes. And now, per person milk availability is 337 gram on an average, while on the world level it is 229 gram. It is worth mentioning that in comparison to the years 2011-14, the growth in milk production during the years 2014-17 has been 16.9 per cent.

He said that the standard of living of urban and rural families is rising, therefore, the demand for the animal protein is increasing. So, it is necessary that we constantly make effort to increase the production of our livestock, poultry and fish so that the countrys citizens are well-nourished and healthy. That is why it is the responsibility of veterinarians to contribute in keeping the nation healthy by increasing availability of animal protein.

He said that the Government is committed to double farmers income by 2022 and veterinaries play a significant role in fulfilling the Governments resolution to double the farmers income. A healthy animal will result in greater production which will automatically enhance the farmers income and the country will proceed on the path of economic prosperity.

Agriculture Minister said that India is worlds highest livestock owner at about 512.05 million out of which 199.1 million are bovines, 105.3 million buffaloes, 71.6 million sheep and 140.5 million goats. In the case of goats, India is at the second position in the world and it is approximately 25 % of the livestock. India is second largest poultry market in the world and it includes the production of 63 billion eggs and 649 million poultry meat. Indias marine and fish industry are growing at around 7 percent compound annual growth rate. Overall, Indias livestock sector is growing fast and emerging as a major contributor in the global market.

The Agriculture Minister said that the Government of India is ensuring the quality of education in universities is of international standards. In this direction, ICARs Fifth Deans Committee Report has been approved. Schemes like Student and Arya have been started with scholarships. Students scholarship amount has been increased.

In the end, the Minister said that to see our nation prosper and agriculture sector and farmers flourish, we need to work together. When the agriculture will grow, the farmer will be happy and the country will move forward.

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ONGC, Sun Pharma in focus after Q2 results
May 29,2017

ONGCs net profit fell 6.14% to Rs 4340.18 crore on 26.81% rise in total income to Rs 26233.56 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours on Friday, 26 May 2017.

ONGCs net profit rose 10.9% to Rs 17899.97 crore on 0.83% rise in total income to Rs 85455.85 crore in the year ended 31 March 2017 (FY 2017) over FY 2016.

On a consolidated basis, ONGCs net profit rose 63.94% to Rs 21478.34 crore on 5.57% rise in total income to Rs 152731.39 crore in FY 2017 over FY 2016.

In exploration segment, ONGC has achieved 35% rise in exploration performance in FY 2017 by making 23 discoveries, as against 17 discoveries in FY 2016. Of the 23 discoveries, 13 discoveries were made in onland (Nominaton-12, NELP-1) and 10 in offshore. (Nomination-7, NELP- 3). Out of 13 onland discoveries, 9 were monetized during the year itself having a potential of 0.218 MMTOE per year.

Sun Pharmaceuticals Industries consolidated net profit fell 16.67% to Rs 1385.57 crore on 6.35% fall in total income to Rs 7361.46 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours on Friday, 26 May 2017.

Tech Mahindras consolidated net profit dropped 30.2% to Rs 589.69 crore on 0.26% rise in total income to Rs 7732.89 crore in Q4 March 2017 over Q3 December 2016. The result was announced after market hours on Friday, 26 May 2017.

Mahanagar Gas net profit rose 17.87% to Rs 99.47 crore on 2.57% rise in total income to Rs 538.28 crore in Q4 March 2017 over Q3 December 2016. The result was announced after market hours on Friday, 26 May 2017.

DLF reported consolidated net profit of Rs 142.66 crore in Q4 March 2017 as compared with net loss of Rs 211.11 crore in Q4 March 2016. Total income fell 4.66% to Rs 2605.44 crore in Q4 March 2017 over Q3 December 2016. The result was announced after market hours on Friday, 26 May 2017.

BPCL, Coal India, NTPC, L&T, Power Finance Corporation and Power Grid Corporation of India will announce their Q4 results today, 29 May 2017.

CG Power and Industrial Solutions said that the company has received an offer for acquisition of the companys power business in United States of America, comprised in its subsidiary, CG Power Systems USA Inc (PSUS). The announcement was made after market hours on Friday, 26 May 2017.

The board has at its meeting held on Friday, 26 May 2017 decided to divest the power business of PSUS for which the company and has constituted a committee to consider the offer and decide on the terms and conditions of acceptance of the offer and closure. The requisite shareholders approval is in place as part of the divestment of the overseas T&D business divestment. The board has mandated the committee to complete the process by 30 June 2017.

The proposed divestment is part of the companys stated strategy of geography / product-wise divestment with the objective of debt reduction and focusing on core operations and core market in India.

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