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Japan Stocks fall on geopolitical tensions
Apr 11,2017

The Japan share market closed down on Tuesday, 11 April 2017, a with investor sentiment subdued by a yens appreciation against the U.S. dollar and rising geopolitical tensions after North Korea on Tuesday denounced Washingtons deployment of a naval strike group to the Korean peninsula, warning it was ready for war. The deployment comes days after an American cruise missile strike on Syria that was widely interpreted as putting Pyongyang on warning over its refusal to abandon its nuclear ambitions. Uncertainty over Frances presidential election this month and the rise of the far right also weighed on sentiment. At the close, the benchmark Nikkei Stock Average fell 0.27 percent, or 50.01 points, to sit at 18,747.87, while the broader Topix index of all first-section issues fell 0.3 percent, or 4.55 points, to 1,495.10.

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Sukhjit Starch & Chemicals provides update on mega food park project
Apr 11,2017

Sukhjit Starch & Chemicals announced that most of the approvals from the concerned authorities including NOC from Central Ground Water Authority for setting up the mega food park in Tehsil Phagwara, Distt. Kapurthala (Punjab) have been received.

The mega food park will be set up in the name and style of Sukhjit Mega Food Park & Infra an SPV incorporated as a wholly owned subsidiary of the Company.

The food park entail an investment of Rs 125 crore and will be financed by way of Central Government Subsidy of Rs 50 crore, bank term loan of Rs 40 crore and balance by way of equity contribution by the Company.

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China Stocks gain to 4-month high
Apr 11,2017

The Mainland China equity market recouped early losses to finish at a 15-month high on Tuesday, 11 April 2017, with stocks related to the Xiongan New Area being major gainers. The blue-chip CSI300 index rose 0.35 per cent to 3,517.33 points, while the Shanghai Composite Index added 0.6 per cent to 3,288.97 points.

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Hong Kong Stocks down on weak global cues
Apr 11,2017

The Hong Kong stock market closed session down for fourth straight session in cautious trade on Tuesday, 11 April 2017, amid geopolitical uncertainties of East Asia. The benchmark index opened up 18 points at 24,280. It then moved down, and hit an intra-day low of 24,007 (down 255 points) at one stage. But A-share market rally help support the local sentiment. The benchmark Hang Seng index dropped 0.7 per cent at the close, to 24,088.46, while the Hong Kong China Enterprises Index lost 0.9 per cent, to 10,165.98. Turnover increased to HK$76.8 billion from HK$65 billion on Monday.

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1.86 lakh fair price shops installed PoS devices so far
Apr 11,2017

The Department of Food and Public Distribution has prepared guidelines for Fair Price Shop (FPS) automation, which have been shared with all States/UTs. FPS automation involves, installation of Point of Sale (PoS) devices at FPS for authentication of beneficiaries, recording of sales to beneficiaries at the FPS; and uploading of transaction data in central server. There are 5.26 lakh Fair Price Shops in the country out of which 1.86 lakh FPSs have been automated so far installing ePoS devices/mobile terminals across 22 States/UTs. A statement showing the total number of FPSs in each States/UTs including Andhra Pradesh and automation of FPSs is given below.

Targeted Public Distribution System (TPDS) is operated under the joint responsibility of the Central and State/UT Governments wherein operational responsibilities including the issuance of licenses to the Fair Price Shops (FPSs) rest with the concerned State/UT Governments.

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Food Processing Industries Minister emphasizes need to set up Integrated Cold Chain Projects for fast-tracking transformation of Indian economy
Apr 11,2017

Minister of Food Processing Industries Smt. Harsimrat Kaur Badal emphasized the need to set up Integrated Cold Chain Projects on war scale in the country for all-round development of India and for fast-tracking transformation of the Indian economy.

Smt. Badal said given the challenge of post-harvest losses which currently are Rs.92,000 crores annually, the facilities set up by the Ministry of Food Processing Industries like 42 Mega Food Parks and 234 Cold Chain Projects (including 101 newly sanctioned Cold Chain Projects) have created preserving and processing capacity of 139 lakh Metric Tonnes of Agro Produce with a value of Rs.35,000 crores which means that setting up of these Cold Chain Projects and Mega Food Parks already undertaken would reduce post harvest losses substantially. She said apart from reducing wastage, the projects will generate employment for 3.5 lakh persons and benefit 15 lakh farmers.

The Minister also informed about the steps being taken by the Ministry to build a strong, efficient and integrated supply chain for agri-produce involving backward linkages with the farm, processing to add value to the farmers produce and creation of forward linkages through organised modern retail.

Formulation and implementation of a National Food Processing Policy is also under consideration of the Ministry. The vision of the Policy is to position India as a World Food Factory by creating an enabling framework for the sustainable growth of the food processing industry. The Policy is based on the principle of inclusive growth in partnership with the States with the overarching goal of providing remunerative return to farmers. The model Food Processing Policy focuses development of clusters based on production strength of different region to enable a targeted and coordinated approach for developing the food processing industry and bringing down wastages. As a step in this direction, the Ministry proposes to undertake mapping of areas of fruits &vegetables and other perishable production in different States with the target to set up agro processing clusters.

To achieve the vision of National Food Processing Policy, the Ministry will be shortly launching a revamped National Mission on Food Processing called SAMPADA (Scheme for Agro-Marine Produce Processing and Development of Agro-Processing Clusters) to complete the on-going Mega Food Parks, take up more cold chain and also to launch 3 new schemes - Creation/Expansion of Food Processing and Preservation Capacities, New Agro-Processing Clusters and Backward and Forward Linkages.

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GIC Housing Finance drops on profit booking
Apr 11,2017

Meanwhile, the S&P BSE Sensex was up 215.30 points, or 0.73%, to 29,791.04. The S&P BSE Small-Cap index was up 142.07 points, or 0.96%, to 14,918.10

On BSE, so far 1.39 lakh shares were traded in the counter, compared with an average volume of 38,842 shares in the past one quarter. The stock hit a high of Rs 515 in intraday trade so far, which is record high for the counter. The stock hit a low of Rs 473.25 so far during the day. The stock hit a 52-week low of Rs 233 on 8 April 2016.

The stock had outperformed the market over the past one month till 10 April 2017, rising 64.47% compared with 2.17% rise in the Sensex. The scrip, also outperformed the market in past one quarter, surging 85.58% as against Sensexs 9.95% rise.

The small-cap company has an equity capital of Rs 53.85 crore. Face value per share is Rs 10.

GIC Housing Finances net profit rose 12.55% to Rs 34.43 crore on 13.61% growth in total income to Rs 253.07 crore in Q3 December 2016 over Q3 December 2015.

GIC Housing Finance provides housing loans to both individuals and corporations.

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Karnataka Bank soars after ICICI Bank picks up stake
Apr 11,2017

The shareholding pattern was disclosed after market hours yesterday, 10 April 2017.

Meanwhile, the S&P BSE Sensex was up 215.69 points, or 0.73% to 29,791.43.

On the BSE, 23.64 lakh shares were traded in the counter so far, compared with average daily volumes of 3.87 lakh shares in the past one quarter. The stock had hit a high of Rs 161.70 so far during the day, which is also a 52-week high for the counter. The stock had hit a low of Rs 146.50 so far during the day. The stock hit a 52-week low of Rs 83.76 on 11 April 2016.

The stock had outperformed the market over the past one month till 10 April 2017, rising 7.15% compared with 2.17% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 23.65% as against Sensexs 9.95% rise.

The mid-cap company has equity capital of Rs 282.70 crore. Face value per share is Rs 10.

As on 31 March 2017, ICICI Bank held 30.72 lakh shares, or 1.09% stake, in Karnataka Bank.

Karnataka Banks net profit fell 29.3% to Rs 68.52 crore on 6.4% increase in operating income to Rs 1457.52 crore in Q3 December 2016 over Q3 December 2015.

Karnataka Bank is a private sector bank in India.

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Board of Cairn India recommends dividend
Apr 11,2017

Cairn India announced that the Board of Directors of the Company at its meeting held on 30 March 2017, inter alia, have recommended the dividend of Rs 17.7 per equity Share (i.e. 177%) , subject to the approval of the shareholders.

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Aditya Birla Money more than doubles in nine sessions
Apr 11,2017

Meanwhile, the S&P BSE Sensex was up 209.84 points, or 0.71% at 29,785.58. The S&P BSE Small-cap index was up 120.72 points, or 0.82% at 14,896.75.

High volumes were witnessed on the counter. On the BSE, 2.91 lakh shares were traded on the counter so far as against the average daily volumes of 40,640 shares in the past one quarter. The stock had hit a high of Rs 63.15 so far during the day, which is also its 52-week high. The stock had hit a low of Rs 58 so far during the day.

The stock had hit a 52-week low of Rs 20.50 on 20 April 2016. The stock had outperformed the market over the past one month till 10 April 2017, advancing 102.65% compared with the Sensexs 2.17% rise. The scrip had also outperformed the market over the past one quarter advancing 114.77% as against the Sensexs 9.95% rise.

The small-cap company has equity capital of Rs 5.54 crore. Face value per share is Rs 1.

Shares of Aditya Birla Money sizzled 108.07% in nine trading sessions to its current ruling price of Rs 63.15, from a close of Rs 30.35 on 28 March 2017.

Aditya Birla Money had issued a clarification to the stock exchanges on 7 April 2017 regarding sudden jump in its share price. The company said that there is no price sensitive information/announcement (including pending announcement) relating to the company which may have a bearing on the price/volume behavior in the scrip.

Aditya Birla Money reported net profit of Rs 2.76 crore in Q3 December 2016, as against net loss of Rs 0.38 crore in Q3 December 2015. Total income rose 11.6% to Rs 31.31 crore in Q3 December 2016 over Q3 December 2015.

Aditya Birla Money is engaged in the business of broking and related activities. The companys business is to provide brokerage services and portfolio management services (PMS) to its clients in the capital markets within India.

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Volumes jump at Somany Ceramics counter
Apr 11,2017

Somany Ceramics clocked volume of 2.23 lakh shares by 14:16 IST on BSE, a 185.04-times surge over two-week average daily volume of 1,000 shares. The stock rose 1.04% to Rs 688.

Vista Pharmaceuticals notched up volume of 11.43 lakh shares, a 13.45-fold surge over two-week average daily volume of 85,000 shares. The stock rose 0.33% to Rs 45.

Torrent Power saw volume of 18.34 lakh shares, a 10.26-fold surge over two-week average daily volume of 1.79 lakh shares. The stock rose 0.45% to Rs 222.60.

Adani Power clocked volume of 1.28 crore shares, a 9.68-fold surge over two-week average daily volume of 13.23 lakh shares. The stock slumped 16.69% to Rs 36.95.

Tata Power Company saw volume of 25.96 lakh shares, a 7.48-fold rise over two-week average daily volume of 3.47 lakh shares. The stock lost 3.33% to Rs 84.20

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Board of BIGBLOC Construction approves Rs 100 crore capex for expansion of AAC Blocks
Apr 11,2017

BIGBLOC Construction announced that the Board of Directors of the Company at its meeting held on 11 April 2017 approved the following expansion for AAC Blocks :

1. Brownfield Expansion of 3,00,000 cubic meters per annum at the Companys plant situated at Umargaon (Gujarat). This will make the Umargaon Plant the largest capacity plant at a single location in India at 6,00,000 cubic meters per annum

2. Greenfield expansion of 3,00,000 cubic meters per annum at Bangalore.

As a result of the above expansions, the Companys total AAC Blocks capacity will become 9,00,000 cubic meters per annum. The total Capital Expenditure envisaged is approx. Rs.100 crore. The Capital Expenditure will be financed through a mix of Debt & Equity.

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BIGBLOC Construction appoints director
Apr 11,2017

BIGBLOC Construction announced that the Board of Directors of the Company has, at its meeting held on 11 April 2017, appointed Manish Narayan Saboo as an Additional director under the category of Non-Executive with effect from 11 April 2017.

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Timelines for Closure of financial accounts under Rule 114H (8) of the Income-tax Rules, 1962 under alternative procedure of FATCA
Apr 11,2017

The Inter-Governmental Agreement (IGA) with USA for implementation of FATCA entered into force on 31st August 2015. Under the alternative procedure provided in Rule 114H(8) of the Income-tax Rules, 1962, the financial institutions need to obtain self-certification and carry out due diligence in respect of all individual and entity accounts opened from 1st July 2014 to 31st August 2015. Such self-certification and documentation was required to be obtained by the financial institutions by 31st August 2016, otherwise they were required to close the accounts and report the same if found to be a reportable account as per the prescribed due diligence procedure for pre-existing account.

In view of the difficulties highlighted by stakeholders in following the provision for closure of financial accounts, it was informed vide Press Release dated 31st August 2016 that the financial institutions may not close the accounts by 31st August 2016 in respect of which self-certifications have not been obtained under the alternative procedure and a revised time line shall be notified in due course. The financial institutions were also advised to continue to work on completing the required due diligence, including obtaining self-certifications.

Queries are being received from the financial institutions regarding the revised time lines for completion of due diligence. The financial institutions are advised that all efforts should be made by the financial institutions to obtain the self-certification. The account holders may be informed that, in case self-certifications are not provided till 30 April 2017, the accounts would be blocked, which would mean that the financial institution would prohibit the account holder from effecting any transaction with respect to such accounts. The transactions by the account holder in such blocked accounts may, thereafter, be permitted once the self-certification is obtained and due diligence completed.

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Bitter pill for Cipla after bulk deal
Apr 11,2017

Meanwhile, the S&P BSE Sensex was up 191.28 points, or 0.65%, to 29,767.02

Bulk deal boosted volume on the scrip. On the BSE, so far 18.68 lakh shares were traded in the counter, compared with average daily volumes of 1.48 lakh shares in the past one quarter. The stock had hit a high of Rs 591.75 and a low of Rs 581 so far during the day.

The stock hit a 52-week high of Rs 621.90 on 6 February 2017. The stock hit a 52-week low of Rs 458.25 on 25 May 2016. The stock had underperformed the market over the past one month till 10 April 2017, rising 0.11% compared with 2.17% rise in the Sensex. The scrip also underperformed the market in past one quarter, rising 2.24% as against Sensexs 9.95% rise.

The large-cap pharmaceutical company has equity capital of Rs 160.90 crore. Face value per share is Rs 2.

Ciplas consolidated net profit rose 43.85% to Rs 374.83 crore on 15.64% rise in net sales to Rs 3550.02 crore in Q3 December 2016 over Q3 December 2015.

Cipla is a global pharmaceutical company. Its portfolio includes over 1000 products across wide range of therapeutic categories.

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