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Board of Shah Construction Company to announce December quarter results
Jan 12,2017

Shah Construction Company announced that the meeting of the Board of Directors of the Company will be held on 10 February 2017, inter alia, to consider the unaudited financial results, for the quarter ended on 31 December 2016.

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CRISIL launches a new credit rating system for infra projects
Jan 12,2017

Indias infrastructure sector needs Rs 43 lakh crore of investments over five years ending March 31, 2020, and that domestic corporate bond market will have to pitch in with at least Rs 11 lakh crore out of this because of capital constraints at public sector banks, says CRISIL.

CRISIL believes that there is a need for new innovative structures such as infrastructure debt funds, and credit enhancement mechanisms such as partial guarantees, that would enable long-term investors such as insurers and pension funds to pitch in and bridge the funding gap.

As a step towards innovation, CRISIL, in consultation with the Ministry of Finance and other stakeholders, has developed a new credit rating framework for infrastructure projects that would facilitate greater participation by long-term investors and lenders.

The new credit rating system is based on the expected loss (EL) methodology. Which means, the rating will be an expert judgment on EL over the life of the debt instrument by taking into account the two pillars of credit risk - the probability of default (PD), and the prospects of recovery.

By also factoring in the prospects of recovery after default, the new system will complement conventional credit ratings that convey opinions on PD. By combining the two pillars of credit risk, the new system provides crucial information to investors that is all the more relevant in the context of infrastructure projects, where debt tenures are way shorter than the economic lives of projects, ramp-up periods are unpredictable, and cash flows are volatile because of risks from counterparty, markets and operations.

Long-term investors and the corporate bond market have shied off infrastructure projects in India because of higher perceived risk and lower credit ratings. This is despite the fact that once such projects stabilise, their credit profiles improve significantly. Empirical evidence also shows the risk of default and loss reduces materially after stabilisation. Additionally, many public private partnership projects have embedded safeguards such as termination payments and contractual protection that limit losses to debt investors. By construct, conventional credit rating methodology does not adequately take into account this feature of infrastructure projects. But the new system does, and focusses on recovery of dues to investors and lenders over the lifecycle of an infrastructure project.

Says Somasekhar Vemuri, Senior Director, CRISIL Ratings, n++A rating system based on EL, which takes into account not only the PD, but also the loss given default (LGD), appropriately reflects the unique nature of the infrastructure sector. The new rating scale will provide a valuable input -- in addition to the existing rating scale based on the PD approach -- to investors for effective pricing of debt instruments, and consequently, investment decisions.n++

The ratings will be assigned on a scale from CRISIL INFRA EL1 to CRISIL INFRA EL7, with EL1 having the lowest expected loss and EL7 the highest. It will initially be used to assess completed and operational infrastructure projects. A key point of note is that need for conventional ratings will continue as indicators of default risk, while the new scale provides additional inputs related to recovery over project lifecycle for debt market investors.

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Rich Universe Network to announce December quarter results
Jan 12,2017

Rich Universe Network announced that a Meeting of the Board of Directors of the Company will be held on 06 February 2017, inter alia, to consider & approve the un-audited financial results for the quarter ended 31 December 2016.

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Board of International Combustion (India) to consider Q3 and 9M results
Jan 12,2017

International Combustion (India) announced that a meeting of the Board of Directors of the Company is scheduled to be held on 31 January 2017, inter alia, to consider and approve the Unaudited Financial Results (Standalone) of the Company for the third Quarter and Nine Months Period ended 31 December 2016.

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Board of IFB Agro Industries to consider Q3 and 9M results
Jan 12,2017

IFB Agro Industries announced that a meeting of the Board of Directors of the Companys is scheduled to be held on 28 January 2017, inter alia, to consider and take on record the unaudited financial results of the Company for the quarter and nine months ended 31 December 2016 and other businesses.

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Board of CHD Chemicals considers renewal of credit facility from Axis Bank
Jan 12,2017

CHD Chemicals announced that the board of Directors of the Company at their Meeting held on 12 January 2017, discuss the following matters:

- Authorized the Board to renew credit facility from AXIS Bank on the terms and conditions set out in the Credit Arrangement Letter issued by the AXIS Bank.

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Shri Niwas Leasing & Finance to consider December quarter results
Jan 12,2017

Shri Niwas Leasing & Finance announced that the Board Meeting of the Company will be held on 07 February 2017, inter alia, to consider and take on record Unaudited Quarterly Financial Results of the Company for the Quarter ended on 31 December 2016.

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Marvel Web Solutions to announce December quarter results
Jan 12,2017

Marvel Web Solutions announced that a Meeting of the Board of Directors of the Company will be held on 19 January 2017, inter alia, to transact the following business at the meeting:

- To consider and approve the Unaudited Quarterly Results for Quarter ended 31 December 2016.

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Super Crop Safe to announce Q3 results
Jan 12,2017

Super Crop Safe announced that a Meeting of the board of directors of the Company will be held on 20 January 2017, inter alia, to consider the following items;

- To consider Un-Audited Financial Result for the Third Quarter Ended on 31 December 2016.

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Sujala Trading & Holdings to announce December quarter results
Jan 12,2017

Sujala Trading & Holdings announced that a meeting of Board of directors of the Company will be held on 13 February 2017 to consider and approve the Audited Financial Results for the Quarter ended 31 December 2016 along with other routine business.

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Volumes jump at GE Power India counter
Jan 12,2017

GE Power India volume of 4.41 lakh shares by 13:40 IST on BSE, a 136.7-times surge over two-week average daily volume of 3,225 shares. The stock rose 0.09% to Rs 536.

Dalmia Bharat notched up volume of 1.63 lakh shares, a 24.99-fold surge over two-week average daily volume of 6,511 shares. The stock rose 1.39% to Rs 1,698.45.

NHPC saw volume of 27.25 lakh shares, a 9.61-fold surge over two-week average daily volume of 2.8 lakh shares. The stock rose 5.29% to Rs 28.85.

Grasim Industries clocked volume of 2.5 lakh shares, a 7.57-fold surge over two-week average daily volume of 33,000 shares. The stock gained 0.12% to Rs 857.

Bhansali Engineering Polymers saw volume of 20.96 lakh shares, a 7.2-fold rise over two-week average daily volume of 2.9 lakh shares. The stock jumped 6.04% to Rs 26.35.

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Board of Binani Industries to consider third quarter and nine months results
Jan 12,2017

Binani Industries announced that a Meeting of the Board of Directors of the Company will be held on 27 January 2017, inter alia, to consider and approve the Unaudited Standalone Financial Results of the Company for the third quarter and nine months ended 31 December 2016.

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Board of Jay Bharat Maruti to consider private placement of NCDs
Jan 12,2017

Jay Bharat Maruti announced that a meeting of the Board of Directors of the Company will be held on 16 January 2017, inter alia, to consider the proposal for issue of Non-Convertible Debentures on private placement basis in terms of Section 42 and 71 of the Companies Act, 2013 subject to taking of shareholders approval through Postal Ballot process.

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Board of Alstone Textiles (India) to consider December quarter results
Jan 12,2017

Alstone Textiles (India) announced that the Board Meeting of the Company will be held on 06 February 2017, inter alia, to consider and take on record the Unaudited Quarterly Financial Results of the Company for the Quarter ended on 31 December 2016.

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Rishiroop allots 14,02,280 equity shares
Jan 12,2017

Rishiroop announced that the Securities Issue Committee of the Board of Directors of the Company has in the meeting held on 12 January 2017 approved allotment of 14,02,280 equity shares of Rs. 10/- each of the Company to holders of Optionally Convertible Preference Shares (OCPS) who exercised their option to convert their OCPS holding to equity shares as per the terms of the Scheme of Amalgamation (Scheme) sanctioned by the Honble High Court of Judicature at Bombay vide its order dated 08 May 2015, and Honble High Court of Gujarat at Ahmedabad vide its order dated 23 June 2015.

As per the terms of the aforesaid Scheme, shares allotted shall rank pari-passu with the existing equity shares of the Company in all respects, and shall be subject to the provisions of the Memorandum and Articles of Association of the Company.

Consequent to the above allotment, the equity share capital of the Company stands increased to 90,40,522 equity shares of Rs. 10/- each, aggregating to Rs. 9,04,05,220/-.

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