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Bamboo policy on the anvil: Nitin Gadkari
Jul 19,2017

The Government is soon likely to bring a policy to promote bamboo sector which could be used to harness bio-fuel, Union Road Transport, Highways and Shipping Minister, Mr Nitin Gadkari said at an ASSOCHAM event.

n++I have been very diligently working towards diversification of agriculture into energy and power sector, I am happy to inform that I aggressively followed up with the matter and held three meetings with the Prime Ministers Office (PMO) and soon we will have a bamboo policy,n++ said Mr Gadkari.

n++Our petroleum minister has also signed 15 contracts to harness bio ethanol out of bamboo,n++ said Mr Gadkari.

He also said that second generation ethanol can be made using bamboo, cotton straw, rice straw and residual cane-waste (bagasse).

n++I do not think future of farmers can be transformed by producing wheat and rice as such carrying out innovation, entrepreneurship, technology and research is very important,n++ he added.

Suggesting certain measures aimed at ensuring growth and development of agriculture sector, Mr Gadkari said, n++There is a need to bring down costs per acre and also to promote allied sectors like dairy, fisheries, poultry and others.n++

n++In the current scenario, we need to boost productivity to promote economic viability which would lead to job generation and boost the gross domestic product (GDP), besides promoting agro-processing industries and bringing down costs of power, seeds, fertilisers and insecticides is equally imperative,n++ he added.

He further said that all of these steps together will lead to overall development of agriculture sector.

Highlighting that diversification of agriculture is most critical, he said that it is imperative to find substitute of petrol, diesel using agro-waste which would be import-substitute, cost effective, pollution-free and indigenous.

Taking a dig at the previous government regime, Mr Gadkari said, n++Had the capital cost incurred on purchase of aircrafts worth Rs 70,000 crore been used to provide irrigation facilities to farmers, it would have made a huge difference to the agriculture sector.n++

He also said that states like Maharashtra, Karnataka, Telangana, Andhra Pradesh, Gujarat, Rajasthan, Jharkhand, Odisha are grappling with water shortage and facing grave issue of farmers suicides.

n++Unless and until, we have about 55 per cent of irrigated land and 60-65 per cent drip irrigation, no one can stop farmers suicides, this is the thumb rule,n++ said Mr Gadkari.

n++You can imagine, irrigation projects with investments worth about Rs three lakh crore have remained non-starter while all the water is flowing in the sea,n++ he added.

n++It is because our policies are wrong and the state governments do not have enough funds to strengthen irrigation systems,n++ he said further.

He said that, thus for the first time, the present government in the second years budget had allocated Rs 75,000 crore for a five year term and with a view to revive the irrigation offices of state governments that have remained shut to provide funds under the aegis of Pradhan Mantri Krishi Sinchayee Yojana.

The union minister also said that there is a need to promote drip irrigation as it can help boost agriculture production by 2.5 times.

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Grasim declines as Macquarie Bank offloads bulk shares
Jul 19,2017

Meanwhile, the S&P BSE Sensex was up 252.57 points or 0.8% at 31,963.56.

On the BSE, 10.36 lakh shares were traded on the counter so far as against the average daily volumes of 1.09 lakh shares in the past one quarter. The stock had hit a high of Rs 1,091 and a low of Rs 1,013 so far during the day. The stock had hit a record high of Rs 1,331.75 on 17 July 2017 and a 52-week low of Rs 781.80 on 21 November 2016.

The stock had outperformed the market over the past one month till 18 July 2017, advancing 16.67% compared with the Sensexs 2.11% rise. The stock had also outperformed the market over the past one quarter, gaining 22.82% as against the Sensexs 8.16% rise. The scrip had also outperformed the market over the past one year, gaining 36.33% as against the Sensexs 14.29% rise.

The large-cap company has equity capital of Rs 131.47 crore. Face value per share is Rs 2.

Macquarie Bank sold 11.25 lakh shares of Grasim Industries to Indian Opportunities Growth Fund - Pinewood Strategy at Rs 1,303 per share in a block deal on the BSE yesterday, 18 July 2017.

On consolidated basis, Grasim Industries net profit rose 0.8% to Rs 1063.62 crore on 5.7% growth in net sales to Rs 9995.40 crore in Q4 March 2017 over Q4 March 2016.

Grasim Industries has a leadership positions in cement, viscose staple fibre and chemicals businesses.

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Telecom stocks jump on buzz of push for doubling call termination charge
Jul 19,2017

Meanwhile, the S&P BSE Sensex was up 174.41 points, or 0.55% at 31,885.40.

Bharti Airtel (up 2.9%), Tata Teleservices (Maharashtra) (up 1.74%), Reliance Communications (RCom) (up 4.64%) and Idea Cellular (up 10.15%) gained.

The S&P BSE Telecom index had outperformed the market over the past one month till 18 July 2017, gaining 10.6% compared with Sensexs 2.11% gains. The index had also outperformed the market in past one quarter, gaining 14.04% as against Sensexs 8.16% rise. The index had, however, underperformed the market in past six months, rising 7.97% as against Sensexs 16.34% rise.

Shares of Bharti Infratel fell 1.23%. Bharti Infratel is a provider of tower and related infrastructure and is a unit of Bharti Airtel.

Bharti Airtel and Idea Cellular reportedly yesterday, 18 July 2017, sought doubling of interconnection usage charge (IUC), a key input for mobile rates, saying that incoming calls to their networks cost 30 paise per minute to complete.

Another incumbent, Vodafone, projected the cost at 34 paise, more than double the current level. Any change in IUC has a direct impact on mobile call rates as the charge is taken into account while setting telecom tariffs.

Telecom operators get the interconnection charge for every incoming calls from networks of other operator. It is included in call rates paid by mobile subscribers. The IUC is fixed by the Telecom Regulatory Authority of India (Trai). At present IUC of 14 paise per minute is levied on every incoming calls.

The Aditya Birla group firm demanded that IUC should be raised so that telecom operators are able to recover cost of carrying load of incoming calls from other networks.

Meanwhile, Union Minister Manoj Sinha reportedly said today, 19 July 2017 that the new telecom policy is likely to be announced before March 2018 which will focus on 5G technology ecosystem, data security and privacy and other key areas in the sector.

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Steel Strips Wheels gains after securing order
Jul 19,2017

The announcement was made during market hours today, 19 July 2017.

Meanwhile, the S&P BSE Sensex was up 170.29 points, or 0.54% at 31,881.28. The S&P BSE Small-Cap index was up 142.97 points, or 0.9% at 15,960.57.

On the BSE, 3,940 shares were traded on the counter so far as against the average daily volumes of 4,481 shares in the past one quarter. The stock was volatile. The stock rose as much as 4.35% at the days high of Rs 918 so far during the day. The stock rose 0.03% at the days low of Rs 880 so far during the day. The stock had hit a record high of Rs 956.60 on 12 June 2017 and a 52-week low of Rs 467 on 19 July 2016.

The stock had underperformed the market over the past one month till 18 July 2017, declining 2.95% compared with the Sensexs 2.11% rise. The scrip had also underperformed the market over the past one quarter sliding 4.19% as against the Sensexs 8.16% rise. The scrip had, however, outperformed the market over the past one year advancing 85.86% as against the Sensexs 14.29% rise.

The small-cap company has equity capital of Rs 15.56 crore. Face value per share is Rs 10.

Steel Strips Wheels (SSWL) said it bagged yet another exports order for supply of steel wheels for EU caravan market. This order covers supplies of approximately 31,000 steel wheels in a period of 3 months. Wheels will be shipped from SSWLs Chennai plant beginning from August 2017. This repeat order strengthens SSWLs position as a strong player in caravan wheels market in Europe region.

Steel Strips Wheels net profit rose 12.2% to Rs 20.74 crore on 23.1% increase in net sales to Rs 380.15 crore in Q4 March 2017 over Q4 March 2016.

Steel Strips Wheels designs and manufactures automotive steel wheels and is among the leading supplier to Indian and global automobile manufacturers.

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GNA Axles hits peak after posting strong Q1 results
Jul 19,2017

The result was announced during market hours today, 19 July 2017.

Meanwhile, the S&P BSE Sensex was up 163.93 points, or 0.52% at 31,874.92. The S&P Small-Cap index was up 138.65 points or 0.88% at 15,956.25.

More than usual volumes were witnessed on the counter. On the BSE, 1.82 lakh shares were traded in the counter so far, compared with average daily volumes of 33,407 shares in the past one quarter. The stock had hit a high of Rs 286.50 in intraday trade, which is also a record high for the stock. The stock had hit a low of Rs 264.95 so far during the day. The stock had hit a record low of Rs 171.10 on 22 November 2016.

The stock had outperformed the market over the past one month till 18 July 2017, gaining 16.23% compared with Sensexs 2.11% gains. The scrip had also outperformed the market in past one quarter, gaining 22.29% as against Sensexs 8.16% rise. The scrip had also outperformed the market in past six months, rising 29.67% as against Sensexs 16.34% rise.

The small-cap company has equity capital of Rs 21.47 crore. Face value per share is Rs 10.

Shares of GNA Axles had made debut on the bourses on 26 September 2016.

GNA Axles is into manufacturing of rear axle shafts used in on-highway and off-highway vehicular segments in India.

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Mastek hits the roof on Q1 result boost
Jul 19,2017

The result was announced during market hours today, 19 July 2017.

Meanwhile, the S&P BSE Sensex was up171.79 points or 0.54% at 31,882.78. The S&P BSE Small-Cap index rose 139.81 points or 0.88% at 15,957.41.

On the BSE, 6.89 lakh shares were traded on the counter so far as against the average daily volumes of 1.06 lakh shares in the past one quarter. The stock had hit a high of Rs 358.80 and a low of Rs 301.75 so far during the day. The stock had hit a 52-week high of Rs 363.10 on 11 May 2017 and a 52-week low of Rs 108.65 on 30 September 2016.

The stock had outperformed the market over the past one month till 18 July 2017, advancing 8.75% compared with the Sensexs 2.11% rise. The stock had also outperformed the market over the past one quarter, gaining 39.3% as against the Sensexs 8.16% rise. The scrip had also outperformed the market over the past one year, jumping 120.83% as against the Sensexs 14.29% rise.

The small-cap company has equity capital of Rs 11.69 crore. Face value per share is Rs 5.

Mastek is a publicly held leading IT player with global operations providing enterprise solutions to government, retail and financial services organizations worldwide.

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Board of Bajaj Finance approves fund raising up to Rs 4500 cr via QIP issue
Jul 19,2017

The Board of Bajaj Finance at its meeting held on 19 July 2017 approved, subject to approval of the shareholders, an issue of securities for an aggregate amount of upto Rs 4,500 crore through a qualified institutions placement to qualified institutional buyers in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended, and related matters thereto.

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Manaksia to hold AGM
Jul 19,2017

Manaksia announced that the 33rd Annual General Meeting (AGM) of the company will be held on 22 September 2017.

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Cochin Malabar Estates & Industries to hold AGM
Jul 19,2017

Cochin Malabar Estates & Industries announced that the 87th Annual General Meeting (AGM) of the company will be held on 31 August 2017.

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Kothari World Finance to hold AGM
Jul 19,2017

Kothari World Finance announced that the 32nd Annual General Meeting (AGM) of the company on 1 September 2017.

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SagarSoft (India) to hold board meeting
Jul 19,2017

SagarSoft (India) will hold a meeting of the Board of Directors of the Company on 2 August 2017, to consider and take on record the un-audited financial results of the Company for the first quarter ended 30th June, 2017

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HT Media to hold AGM
Jul 19,2017

HT Media announced that the 15th Annual General Meeting (AGM) of the company on 25 September 2017.

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HeidelbergCement India to hold board meeting
Jul 19,2017

HeidelbergCement India will hold a meeting of the Board of Directors of the Company on 28 July 2017, to consider and approve the Unaudited Financial Results for the 1st quarter ended 30th June 2017.

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AksharChem (India) announces closure of QIP issue
Jul 19,2017

AksharChem (India) announced that the QIP Committee of the board of directors of the Company has, at its meeting held on 19 July 2017, inter alia, passed the following resolutions:

declaring the closure of the QIP on 19 July 2017;

determining and approving the issue price of Rs.776.00 per Equity Share, for issuance of upto 8,89,690 Equity Shares, to be allotted to eligible qualified institutional buyers in the QIP; and

approving and adopting the placement document dated 19 July 2017, in connection with the QIP (the Placement Document).

The QIP had opened on 14 July 2017.

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Joonktolle Tea & Industries to hold AGM
Jul 19,2017

Joonktolle Tea & Industries announced that the 143rd Annual General Meeting (AGM) of the company will be held on 31 August 2017.

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