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Blue Dart Express to hold board meeting
Apr 17,2017

Blue Dart Express will hold a meeting of the Board of Directors of the Company on 5 May 2017, to approval for Audited Financial Results for the year ended 31 March 2017; to recommend dividend on Equity Shares for the year ended 31 March 2017.

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Astra Microwave Products to hold board meeting
Apr 17,2017

Astra Microwave Products will hold a meeting of the Board of Directors of the Company on 29 April 2017, to take on record the Audited Financial Results for the fourth quarter and year ended 31 March 2017, & to recommend payment of equity dividend for the year ended 31 March 2017

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Ramkrishna Forgings to hold board meeting
Apr 17,2017

Ramkrishna Forgings will hold a meeting of the Board of Directors of the Company on 19 May 2017, to consider and approve the Audited Financial Results for the year ended 31st March 2017.

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Board of Reliance Industrial InfraStructure recommends final dividend
Apr 17,2017

Reliance Industrial InfraStructure announced that the Board of Directors of the Company at its meeting held on 14 April 2017, inter alia, have recommended the final dividend of Rs 3.5 per equity Share (i.e. 35%) , subject to the approval of the shareholders.

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Tirupati Sarjan secured work order worth Rs 67.46 crore
Apr 17,2017

Tirupati Sarjan announced that new work has been awarded to the Company for new construction of hospital building (Phase - IC) for The Gujarat Cancer & Research Institute at Civil Hospital Campus, Asarwa, Ahmedabad of Rs 67.46 crore. The work order of the same has been received and execution of the work has been restarted.

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Unichem Laboratories receives ANDA approval for Piroxicam Capsules
Apr 17,2017

Unichem Laboratories has received ANDA approval from the United States Food and Drug Administration (USFDA) for Piroxicam Capsules USP 10mg & 20mg, which are therapeutically equivalent to Feldene Capsules 10mg & 20mg of Pfizer, Inc. Piroxicam is a nonsteroidal anti-inflammatory drug (NSAID) indicated for relief of the signs and symptoms of osteoarthritis (OA) and rheumatoid arthritis (RA). For the relief of rheumatoid arthritis and osteoarthritis, the dosage is 20 mg given orally once daily. If desired, the daily dose may be divided. Usually lowest effective dosage for the shortest duration, consistent with individual patient treatment goals is recommended. The product will be commercialized from Unichems Goa plant. Active Pharmaceutical Ingredient will also be made in house at Roha API Plant.

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Aditya Birla Nuvo restarts Ammonia/ Urea plants at Jagdishpur
Apr 17,2017

Aditya Birla Nuvo has restarted the Companys Ammonia / Urea Plants at Jagdishpur and the Urea production has since been resumed after a scheduled planned maintenance. During the shut down, the Company has undertaken many maintenance jobs.

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Westlife Development introduces first ever branded McBreakfast category
Apr 17,2017

Westlife Development, owner of the Master Franchisee of McDonaldsn++ restaurants in West & South India through its subsidiary Hardcastle Restaurants (HRPL), has introduced its first ever branded McBreakfast category in Pune.

The new breakfast includes Dosa Masala Brioche, Classic Scrambled and Masala Scrambled Eggs, Classic Spinach & Corn Brioche, freshly baked Waffles and Hotcakes.

This move from McDonalds comes as an extension to its systematic roll-out plan. McBreakfast will be available across 18 restaurants in Pune from 8 AM to 11 AM. For people who want to enjoy the All Day Breakfast, menu items like Egg and Cheese McMuffinn++ and fresh baked Waffles will be available throughout the day.

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Business Reform Action Plan 2017 released
Apr 17,2017

The Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce and Industry, in partnership with the World Bank Group, released the Business Reform Action Plan (BRAP) 2017 for implementation by States/UTs on 13.04.2017.

The BRAP includes 405 recommendations for reforms on regulatory processes, policies, practices and procedures spread across 12 reform areas, that is, labour regulation enablers; contract enforcement; registering property; inspection reform enablers; single window system; land availability and allotment; construction permit enablers; environmental registration enablers; obtaining utility permits; paying taxes; access to information and transparency enablers and sector specific reforms spanning the lifecycle of a typical business.

This year there are 103 new set of reforms (out of 405) focusing on central inspection system, online land allotment system, online single window system for granting construction permits, registration under Inter State Migrant Workmen (RE&CS) Act, 1979, approval for boiler manufacturer and boiler erector etc. BRAP 2017 also includes two new sectors i.e. Healthcare and Hospitality. The last date to implement the reform is 31.10.2017.

DIPP will carry out a comprehensive business-to-government (B2G) feedback exercise this year whereby feedback will be taken from businesses on the quality of implementation of the reforms claimed by the States and UTs. For each State/UT, the scores will be aggregated over all the surveys conducted to yield an overall score for the State/UT.

The feedback scores will be used to generate a ranking of States/UTs in terms of reform implementation. Such a ranking will be different from the last years ranking, which was a ranking of de jure reforms (or reforms based on evidence submitted by States).

The online portal shall soon be enabled to allow States/UTs to upload the reforms implemented along with the evidence.

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PPLC policy is to encourage suppliers and service providers to progressively adopt Make in India practices and add value to their goods and services
Apr 17,2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved signing of Framework of Understanding (FoU) on Cooperation in the Hydrocarbon Sector with Bangladesh, setting up of Indian Institute of Petroleum and Energy (IIPE) at Visakhapatnam in Andhra Pradesh as an Institute of National Importance through an Act of Parliament and also approved the Policy to provide Purchase Preference (linked with Local Content PP-LC) in all Public Sector Undertakings under Ministry of Petroleum & Natural Gas on 12th April, 2017.

The Secretary for Petroleum and Natural Gas, Shri K D Tripathi said that the Make in India initiative was launched by Prime Minister in September, 2014 as part of a wider set of nation-building initiatives devised to transform India into a global design and manufacturing hub. In tune with the campaign, the Government has decided to incentivize the growth in local content in goods and services while implementing oil and gas projects in India through a policy for providing Purchase Preference to the manufactures/services providers who meet the local targets in oil and gas business activities.

Under the policy, progressively increasing targets of Local Content are being stipulated for procurement of goods, services and EPC contracts for oil and gas business activities. The manufacturers/service provider who meet the local content targets and whose quoted price is within 10% of lowest valid price bid, would be eligible for 10% purchase preference for a stipulated portion of the purchase order, on matching such price. For example, Drilling/Workover Rigs/WSS units construction in the onshore sector the local content would be pegged at 50% in the first year and progressively increased to 60% in the next two years and they to 70% in last two years. Similarly, for premium bids as wells as specialized drilling and completion services the local content stipulated is 10% in the first year and progressively increased to 15% in the next two years and then to 20% in the last 2 years.

He added that the policy is expected to encourage suppliers and service providers to progressively adopt Make in India practices and add value to their goods and services within the country. It will facilitate growth of activities related to manufacturing, services and EPC in the Indian economy. This will boost productivity and help in growth of employment at all levels in the oil and gas sector.

Shri Tripathi said that this policy is applicable to all the Public Sector Enterprises and their wholly owned subsidiaries under the Ministry of Petroleum and Natural Gas; Joint Venture that have 51% or more equity by one or more Public Sector Enterprises under the Ministry of Petroleum and Natural Gas; attached and subordinate offices of MoPNG.

The Cabinet had approved a Framework of Understanding on Cooperation in the Field of Hydrocarbons. This was first discussed during the visit of Petroleum Minister Shri Dharmendra Pradhan to Dhaka in April 2016 with the objective to work as an umbrella framework to initiate, monitor and pursue activities of mutual interest in the oil and gas sector. It will give an institutional mechanism for our engagement with Bangladesh in the Hydrocarbon sector.

Salient Features of the proposed Framework document include -

n++ Promotes the energy trade and integration of oil and gas grids of the two countries

n++ Promotes investments in each others countries as well as in third countries, technology transfer, R&D, conducting joint studies and capacity building of human resources.

n++ Provides increased trans-border economic cooperation and connectivity.

n++ Promotes bilateral cooperation at the sub-regional and regional levels

n++ Exchange of information to energy policy formulation in the region.

n++ This Framework of Understanding shall remain in force for a period of five years, and shall be automatically renewed thereafter for a period of every five year.

The visit of PM Sheikh Hasina which took place on April 8-10 has given a further impetus to the Indo Bangladesh relations, as 22 documents were signed, including many in the field of oil and gas. Minister of State (I/C) for Petroleum and Natural Gas, Dharmendra Pradhan had visited Bangladesh during 18-19 April, 2016 and in the last two years there have been at least 7 meetings between him and his counterpart in Bangladesh. There is an institutionalised Energy Dialogue at the level of Secretary which met last month in Dhaka.

The comprehensiveness of the relationship between India and Bangladesh comes from the fact that we are already engaged in Supply of HSD from Siliguri to Parbatipur, Setting up LNG Terminal at Kutubdi island, Setting up LPG Terminal in Chittagong / Kutubdi island, Providing gas for the Khulna Power plant in Bangladesh, Working of gas grid connectivity, Refurbishment of refineries, Building of pipelines and Upstream activity in Bangladesh by Indian companies etc.

India and Bangladesh have signed three Documents: Sale Purchase Agreement between Numaligarh Refineries Ltd (NRL) and Bangladesh Petroleum Corporation for supply of High Speed Diesel to Bangladesh; Setting up of an LNG terminal in Kutubdia Island by Petronet LNG Ltd and Setting up of an LPG Terminal by IOCL in partnership with Petrobangla. In addition to these Honble Prime Minister Shri Narendra Modi along with Prime Minister of Bangladesh flagged off the Rail Rake carrying 2200 MT of HSD from Radhikapur in India to Parbatipur in Bangladesh. The rail rake travelled on the newly constructed rail route. The length of the new route is around 260 kms, almost half of the old route.

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Volumes jump at Atishay counter
Apr 17,2017

Atishay clocked volume of 6.41 lakh shares by 13:33 IST on BSE, a 184.43-times surge over two-week average daily volume of 3,000 shares. The stock rose 1.96% at Rs 78.

Ahluwalia Contracts (India) notched up volume of 2.24 lakh shares, a 21.4-fold surge over two-week average daily volume of 10,000 shares. The stock was down 2.37% at Rs 326.05.

Den Networks saw volume of 16.44 lakh shares, a 18.04-fold surge over two-week average daily volume of 91,000 shares. The stock fell 4.61% at Rs 92.

GE Power India clocked volume of 3.51 lakh shares, a 16.63-fold surge over two-week average daily volume of 21,000 shares. The stock was up 0.29% at Rs 610.

Onward Technologies saw volume of 10.12 lakh shares, a 15.27-fold rise over two-week average daily volume of 66,000 shares. The stock tumbled 7% at Rs 89.10.

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Peninsula Land moves higher on proposal to raise funds
Apr 17,2017

The announcement was made on Saturday, 15 April 2017.

Meanwhile, the S&P BSE Sensex was down 31.33 points, or 0.07% at 29,441.52. The S&P BSE Small-cap index was up 45.28 points, 0.3% at 14,926.44.

High volumes were witnessed on the counter. On the BSE, 3.39 lakh shares were traded on the counter so far as against the average daily volumes of 2.02 lakh shares in the past one quarter. The stock had hit a high of Rs 26.35 and a low of Rs 24.40 so far during the day.

The stock had hit a 52-week high of Rs 26.70 on 11 April 2017 and a 52-week low of Rs 13.15 on 27 December 2016. The stock had outperformed the market over the past one month till 13 April 2017, advancing 35.6% compared with the Sensexs 1.78% rise. The scrip had also outperformed the market over the past one quarter advancing 75.33% as against the Sensexs 8.16% rise.

The small-cap company has equity capital of Rs 55.84 crore. Face value per share is Rs 2.

Peninsula Land said that a meeting of the board of directors of the company is scheduled to be held on Monday, 24 April 2017, to consider the proposal of raising funds by way of issuing non-convertible debt securities on private placement basis during Financial Year 2017-18.

Peninsula Land reported net loss of Rs 20.45 crore in Q3 December 2016, as against net loss of Rs 6.61 crore in Q3 December 2015. Net sales rose 19.2% to Rs 16.49 crore in Q3 December 2016 over Q3 December 2015.

Peninsula Land is the real estate arm of Ashok Piramal Group. The company is known for its concept based architectures in the commercial, retail and residential sectors.

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McDonalds introduces McFizz drinks
Apr 17,2017

McDonalds India has introduced two new refreshing fizzy drinks, McFizz in two flavours - Blue Citrus and Jeera Masala. With the winning combination of Sprite and flavours, the cool Blue Citrus McFizz and desi Jeera Masala McFizz are now available at a price of Rs. 55.

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Board of STL Global approves shifting of registered office
Apr 17,2017

STL Global announced that the Board of Directors of the Company at its meeting held on 17 April 2017 has considered and approved the shifting of registered office to Unit No. 111, Block No. 1, 1st Floor, Tribhuwan Complex, Iswar Nagar, New Delhi - 110065 with effect from 17 April 2017.

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Den Networks biggest loser on BSEs A group
Apr 17,2017

Den Networks fell 6.27% at Rs 90.40. The stock topped the losers in A group. On the BSE, 15.80 lakh shares were traded on the counter so far as against the average daily volumes of 91,000 shares in the past two weeks.

DCB Bank slipped 4.31% at Rs 171.90. The stock was the second biggest loser in A group. On the BSE, 5.15 lakh shares were traded on the counter so far as against the average daily volumes of 6.48 lakh shares in the past two weeks.

Power Finance Corporation declined 4.37% at Rs 155.55. The stock was the third biggest loser in A group. On the BSE, 15.19 lakh shares were traded on the counter so far as against the average daily volumes of 13.67 lakh shares in the past two weeks.

Reliance Communications tumbled 3.50% at Rs 34.45. The stock was the fourth biggest loser in A group. On the BSE, 18.02 lakh shares were traded on the counter so far as against the average daily volumes of 18.75 lakh shares in the past two weeks.

NTPC slipped 3.16% at Rs 159.40. The stock was the fifth biggest loser in A group. On the BSE, 1.30 lakh shares were traded on the counter so far as against the average daily volumes of 1.56 lakh shares in the past two weeks.

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