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Indian Metals & Ferro Alloys fixes record date for interim dividend
Jan 30,2017

Indian Metals & Ferro Alloys has fixed 15 February 2017 as the Record Date for the purpose of Payment of Interim Dividend.

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Sterling Tools fixes record date for 2nd interim dividend
Jan 30,2017

Sterling Tools has fixed 18 February 2017 as the Record Date for the purpose of payment of Second Interim Dividend.

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Granules India fixes record date for 3rd interim dividend
Jan 30,2017

Granules India has fixed 08 February 2017 as the Record Date for the purpose of Payment of Third Interim Dividend.

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Automobile Corporation of Goa fixes record date for interim dividend
Jan 30,2017

Automobile Corporation of Goa announced that the Company has fixed 14 February 2017 as the Record Date for the purpose of Payment of Interim Dividend.

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IIMs to be declared as Institutions of National Importance
Jan 30,2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the Indian Institute of Management (IIM) Bill, 2017, under which the IIMs would be declared as Institutions of National Importance which will enable them to grant degrees to their students.

Following are the salient features of the Bill:

i. IIMs can grant degrees to their students

ii. The Bill provides for complete autonomy to the Institutions, combined with adequate accountability.

iii. Management of these Institutions would be Board driven, with the Chairperson and Director of an Institution which will be selected by the Board.

iv. A greater participation of experts and alumni in the Board is amongst otherimportant features of the Bill.

v. Provision has also been made for inclusion of women and members from Scheduled Castes/Tribes in the Board.

vi. The Bill also provides for periodic review of the performance of Institutions by independent agencies, and placing the results of the same on public domain.

vii. The Annual Report of the Institutions will be placed in the Parliament and CAG will be auditing their accounts.

viii. There is also a provision of Coordination Forum of IIMs as an advisory body.

Background:

Indian Institutes of Management are the countrys premier institutions imparting best quality education in management on globally benchmarked processes of education and training in management. IIMs are recognized as world-class management Institutions and Centers of Excellence and have brought laurels to the country. All IIMs are separate autonomous bodies registered under the Societies Act.

Being societies, IIMs are not authorized to award degrees and, hence, they have been awarding Post Graduate Diploma and Fellow Programme in Management. While these awards are treated as equivalent to MBAs and Ph.D, respectively, the equivalence is not universally acceptable, especially for the Fellow Programme.

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K.P. Energy fixes record date for interim dividend
Jan 30,2017

K.P. Energy Ltd has informed BSE that the Company has fixed 10 February 2017 as the Record Date for the purpose of payment of Interim Dividend.

Interim Dividend shall be paid to the registered shareholders before 20 February 2017.

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Shivalik Bimetal Controls fixes record date for interim dividend
Jan 30,2017

Shivalik Bimetal Controls has fixed 18 February 2017 as the Record Date for the purpose of Payment of Interim Dividend.

The Interim Dividend, if declared, will be paid or dispatched on or before 10 March 2017

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Board of Shivalik Bimetal Controls to consider December quarter results and interim dividend
Jan 30,2017

Shivalik Bimetal Controls announced that a meeting of the Board of Directors of the Company is scheduled to be held on 08 February 2017, inter alia, for the following items:

1. To take on record the unaudited financial results for the quarter ended 31 December 2016;

2. To consider declaration of Interim Dividend for the financial year 2016-17, if any.

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Godrej Consumer Products to pay 3rd interim dividend
Jan 30,2017

Godrej Consumer Products announced that third interim dividend @ Re. 1/- per share (100% on the shares of the face value of Re. 1/- each) for the financial year 2016-17 will be paid on 21 February 2017.

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Cabinet approves exchanging of AAIs land 11.35 acres with equivalent land of Govt. of Bihar for expansion / development purpose
Jan 30,2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval to transfer 11.35 acres of land to Airports Authority of India (AAI) by way of exchanging equivalent land of AAI at Anisabad. The proposed land at Patna Airport will be used for expansion of the airport and construction of new terminal building along-with other associated infrastructures. The State Government has also agreed in principle for transfer of the land.

The new terminal building will be having a capacity of 3 million passengers per annum which will not only enhance the airport capacity but also provide convenience to general public.

Background:

The existing terminal building at Patna Airport was built for a capacity of 0.5 million passengers per annum, against which 1.5 million passengers per annum are already using the airport. This has led to extreme crowding in the terminal building.

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Tasty Bite Eatables tempt buyers after posting strong Q3 results
Jan 30,2017

The result was announced during market hours today, 30 January 2017.

Meanwhile, the BSE Sensex was down 7.98 points, or 0.02%, to 27,874.48.

On the BSE, 2,001 shares were traded in the counter so far, compared with average daily volume of 1,234 shares in the past one quarter. The stock had hit a high of Rs 4,075 and a low of Rs 3,758.65 so far during the day. The stock had hit a record high of Rs 4,849 on 1 November 2016. The stock had hit a 52-week low of Rs 1,270 on 12 February 2016.

It had outperformed the market over the past one month till 27 January 2017, gaining 15.5% compared with the Sensexs 6.37% rise. The scrip had, however, underperformed the market over the past one quarter declining 18.01% as against the Sensexs 0.12% fall.

The small-cap company has equity capital of Rs 2.57 crore. Face value per share is Rs 10.

Tasty Bite Eatables is engaged in the business of manufacturing and selling prepared foods.

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IFB Agro slides as Q3 bottom line growth boosted by other income
Jan 30,2017

Meanwhile, the S&P BSE Sensex was down 29.36 points or 0.11% at 27,853.10.

On the BSE, 6,807 shares were traded on the counter so far as against the average daily volumes of 2,060 shares in the past one quarter. The stock had hit a high of Rs 455 and a low of Rs 420 so far during the day.

The stock had hit a 52-week high of Rs 485 on 3 November 2016 and a 52-week low of Rs 327.20 on 22 November 2016. The stock had outperformed the market over the past one month till 27 January 2017, advancing 21.41% compared with the Sensexs 6.37% rise. The scrip had also outperformed the market over the past one quarter, gaining 0.87% as against the Sensexs 0.12% fall.

The small-cap company has equity capital of Rs 9.37 crore. Face value per share is Rs 10.

IFB Agro Industries net profit rose 15.8% to Rs 9.43 crore on 31.6% growth in net sales to Rs 191.12 crore in Q3 December 2016 over Q3 December 2015. The bottom line growth was mainly due to surge in non-operating income/other income which had seen a jump of 126.6% to Rs 2.90 crore in Q3 December 2016 over Q3 December 2015. The result was announced on Saturday, 28 January 2017.

IFB Agro Industries is engaged in the business of manufacturing alcohol, bottling of branded alcoholic beverages as well as processed and packed marine foods both for domestic & export markets.

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Cabinet approves Short term market borrowing by NABARD for on lending to Cooperative Banks
Jan 30,2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its post-facto approval for the following decisions:

i. National Bank for Agriculture & Rural Development (NABARD) will make short term borrowings at prevailing market rate of interest for approx. Rs.20,000 crore for on-lending to Cooperative Banks at 4.5% rate of interest.

ii. Additional capital of Rs.2,000 crore to be provided to NABARD for this purpose through the Union Budget. To start with, additional capital of Rs.500 crore may be released to NABARD during 2016-17 itself.

iii. Interest Subvention of about 1.8% and NABARDs administrative cost of 0.2% to be provided as per the scheme of Department of Agriculture, Cooperation & Farmers Welfare (DAC&FW). The extent of interest subvention may vary depending on the rate at which NABARD raises funds.

iv. NABARD will coordinate the conversion of operative/live KCCs into RuPay/ATM-enabled Kisan Credit Cards (KCCs) by Cooperative Banks and Regional Rural Banks (RRBs) in a mission mode.

In the light of good monsoon and expectation of increased credit demand and in order to boost agricultural production, the farmers need to be supported through Cooperative Banks, which purvey credit at their doorstep, to enable them to scale up their agricultural operation.

The approval will ensure increased availability of short term crop loans to farmers through Cooperative banks at reduced rate of interest. The conversion of operative/live KCCs into RuPay/ATM-enabled KCCs will enable easy and hassle free availability of credit and in keeping with the spirit of Digital India, will facilitate digital and cashless transactions by farmers.

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Board of Godrej Consumer Products declares 3rd interim dividend
Jan 30,2017

Godrej Consumer Products announced that at the meeting of the Board of Directors of the Company held on 30 January 2017, inter alia, the Board has:

- Declared a third interim dividend @ Re. 1/- per share (100% on the shares of the face value of Re. 1/- each) for the financial year 2016-17.

The said interim dividend will be paid on 21 February 2017.

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Shri Bajrang Alloys to consider December quarter results
Jan 30,2017

Shri Bajrang Alloys announced that a Meeting of Board of Directors of the Company is scheduled to be held on 13 February 2017, inter alia, to consider and approve the Un-Audited Financial results of the Company for the quarter ended on 31 December 2016.

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