My Application Form Status

Check the status of your application form with Angel Broking.
Arq - The Hyper Intelligent Investment Engine By Angel Broking
Nikkei India Services PMI unhanged in December 2016
Jan 04,2017

Business activity in the Indian service sector fell for the second consecutive month in December 2016, reflecting a steeper reduction in incoming new work. Backlogs continued to rise, while employment decreased fractionally. Panel members widely blamed the deterioration in economic conditions on the rupee demonetization, with concerns towards the speed of the recovery weighing heavily on sentiment. Meanwhile, input costs rose further, but efforts to boost demand led some firms to lower their charges.

The seasonally adjusted headline Nikkei India Services Business Activity Index registered 46.8 in December, little-changed from Novembers reading of 46.7 and indicating a further solid contraction in output. Moreover, the downturn was broad-based by sub-sector, with Hotels & Restaurants firms the worst performers.

With factory production also falling, activity across the private sector economy as a whole dipped to the greatest extent in over three years. This was highlighted by the seasonally adjusted Nikkei India Composite PMI Output Index recording 47.6 in December, from 49.1 in November.

Data implied that services activity fell in response to a solid and accelerated drop in new business during December. The rate of contraction in new work quickened to the fastest since September 2013, with anecdotal evidence suggesting that the decline reflected shortages of money in the country. Meanwhile, order books at manufacturers decreased for the first time in 2016, albeit marginally.

Cash flow issues reportedly caused another increase in outstanding business among private sector firms, with backlogs rising for the seventh straight month (although only moderately).

In spite of higher backlogs, service providers made cutbacks to staffing levels during December. That said, the drop in employment was only fractional, thereby continuing a trend of broadly stagnant workforces that was evident throughout 2016. A similar trend of fractional job losses was seen among goods producers.

Input prices faced by service providers in India continued to rise in December. However, with less than 1% of firms indicating higher cost burdens and the remaining respondents signalling no change since November, the rate of cost inflation was only marginal and negligible in the context of historical data. Purchase price inflation at manufacturers picked up, but remained below the series long-run average.

Services charges were lowered for the third successive month amid intense competitive pressures and attempts to stimulate demand. Nevertheless, the rate of discounting was marginal overall. Conversely, goods producers raised their output prices for the tenth straight month, but the rate of inflation eased to the weakest since August.

Indian service providers signalled optimism regarding the 12-month outlook for activity during December, although the level of positive sentiment dipped to the third-lowest in over 11 years of data collection. Evidence highlighted expectations of a rebound in demand in the coming 12 months, but worries towards the speed of the recovery following the rupee demonetization hampered confidence.

Commenting on the Indian Services PMI survey data, Pollyanna De Lima, economist at IHS Markit, and author of the report, said The Indian service economy ended 2016 on a grim note, with the average PMI activity index reading for the Oct-Dec quarter the lowest since early-2014. Combined with the manufacturing PMI, data suggest that Indian GDP is set to grow in Q3 FY16/17, but a slowdown is likely. Of concern, business confidence among service providers plunged to one of the lowest in the series 11-year history, suggesting that an imminent rebound from the rupee-demonetization downturn is unlikely.

Powered by Capital Market - Live News

LPG customers to now get a discount for on-line payment of LPG refill
Jan 03,2017

Oil Marketing Companies, viz IndianOil, BPCL & HPCL are now offering an upfront discount of Rs 5/- on every LPG refill to all LPG customers who will book and pay for their LPG cylinders online. Customers can make payment through existing online modes i.e net banking, credit & debit cards at the time of web-booking their refills.

Customers will get the discounted amount displayed on their screens - i.e. net amount i.e refill RSP minus (-) incentive amount of Rs.5/- which they need to pay for their refill transactions. The net discounted amount will also be shown on the cash memo accompanying the home-delivery of the LPG cylinder.

Under the aegis of Ministry of Petroleum & Natural Gas, it the endeavour of all Oil Marketing Companies aim to encourage consumers to increasingly shift to such payment modes through digital platforms to achieve the objective of no-cash or less-cash based transactions. The incentive will encourage more and more LPG consumers to go for cashless mode transactions.

Powered by Capital Market - Live News

Pan-India expansion of Maternity Benefit Programme (MBP) to benefit pregnant and lactating mothers across the country
Jan 03,2017

Government of India is committed to ensure that every woman attains optimal nutritional status especially from the most vulnerable communities as nutrition constitutes the foundation for human development. This is all the more important during the period of pregnancy and lactation coupled with wage loss. A womans nutritional status has important implications for her health as well as the health and development of her children.

An under-nourished mother almost inevitably gives birth to a low birth weight baby. When poor nutrition starts in-utero, it extends throughout the life cycle, particularly in women. Owing to economic and social distress many women continue to work to earn a living for their family right upto the last days of their pregnancy. Furthermore, they resume working soon after childbirth, even through their bodies might not permit it, thus preventing their bodies from fully recovering on one hand, and also impending their ability to exclusively breastfeed their young infant in the first six months.

To address the above issues, Ministry of Women and Child Development, in accordance with the provisions of Section 4(b) of National Food Security Act, formulated a scheme for pregnant and lactating mothers called Maternity Benefit Programme Gô a conditional cash transfer scheme. The Scheme provides cash incentives to pregnant and lactating women (i) for the wage loss so that the woman can take adequate rest before and after delivery; (ii) to improve her health and nutrition during the period of pregnancy and lactation; and (iii) to breastfeed the child during the first six months of the birth, which is very vital for the development of the child.

Under the scheme, all Pregnant Women and Lactating Mothers (PW&LM), excluding the Pregnant Women and Lactating Mothers who are in regular employment with the Central Government or State Governments or Public Sector Undertakings or those who are in receipt of similar benefits under any law for the time being are eligible. The cashincentive of Rs.6,000/- is payable in three instalments for the first two live births at the following stages:

Cash Transfer

Conditions

Amount
(in Rs.)

First instalment

(in first trimester of pregnancy)n++

-+n++n++ Early Registration of Pregnancy, preferably within first three months.
-+n++n++ Received one antenatal check-up.

3,000/-

Second instalment

-+n++n++ At the time of institutional delivery.

1500/-

Third instalment
(3 months after delivery)

-+n++n++ Child birth is registered.
-+n++n++ Child has received BCG vaccination.
-+n++n++ Child has received OPV and DPT-1 & 2.

1,500/-

The cash transfer would be Aadhaar linked through the individual bank/post office account etc. in DBT mode.

Honble Prime Minister of India, Shri Narendra Modi, in his address to the nation on 31.12.2016 has announced pan-India expansion of MBP in all the districts with effect from 01.01.2017. It is expected that annually about 51.70 lakh beneficiaries would avail of the benefit.

Expansion of MBP will have huge impact on the PW&LM as it will not only provide them compensation for the wage loss but will also provide them adequate nutrition and rest before and after delivery. Mothers will have sufficient time to breastfeed the child during first six months of the birth. Resultantly, it is expected that it will reduce mother mortality rate, IMR, under-nutrition and its adverse effects.

It is a Centrally Sponsored Scheme and the cost sharing between Centre and States is 60:40 for all the States and UTs (with legislature), 90:10 for NER and Himalayan States and 100% GoI share for UTs without legislatures. The total cost of the proposal for the balance period of 2016-17 and from 2017-18 to 2019-20 including Centre and State share is expected to be Rs. 12,661.00 crore. Out of this, Government of Indias share for the balance period of 2016-17 (Rs. 584 crore) and from 2017-18 to 2019-20 (Rs. 7348 crore) is expected to be Rs. 7932 crore.

Powered by Capital Market - Live News

Sugar production touch 80.9 lakh tonnes in Oct-Sept SS2017
Jan 03,2017

The sugar production for 462 sugar mills in the country has touched 80.90 lakh tonnes of sugar, which is 0.4% higher as compared to last seasons production for the corresponding period. In 2015-16 SS, there were 481 sugar mills in operation on 31 December 2015 and they had produced 80.56 lakh tonnes of sugar till that date.

In Maharashtra, 147 sugar mills commenced crushing operations. As was generally expected, 25 of the mills have stopped crushing. These mills are mostly in the drought affected areas of Marathwada, Sholapur and Ahmednagar. As on 31 December 2016, 25.25 lakh tonnes of sugar have been produced in the State as against 33.70 lakh tonnes produced during the corresponding period last season when 169 mills were running. It is important to note that the mills in Kolhapur, Sangli, Satara and Pune, which were not as adversely impacted by drought, are crushing at almost similar levels like last year. The mills in these four regions generally contribute for almost 55-60% of Maharashtras production.

Barring some sugar mills in Marathwada and Solapur region where sugar recovery during the current season was low as compared to last season, sugar recovery % till 31 December 2016 was 10.52% as against 10.43% as on same date last year.

In Uttar Pradesh, 116 sugar mills are in operation and they have crushed 278 lakh tonnes of sugarcane and produced 27.40 lakh tonnes as on 31 December 2016, with an average recovery of 9.86%. Last year i.e. in 2015-16 SS, 113 sugar mills were in operation on 31 December 2015 and they crushed around 178 lakh tonnes of cane to produce 17.97 lakh tonnes of sugar at an average recovery of 10%. Sugar production this year in UP is higher by 52% as compared to last year same time.

56 sugar mills in Karnataka are in operation on 31 December 2016, who have produced 15.60 lakh tonnes of sugar, as compared to 15.94 lakh tonnes produced by 63 sugar mills in 2015-16 SS on 31 December 2015. As was expected, 5 mills have shut down operations in Karnataka on 31 December 2016. As compared to 40.5 lakh tonnes produced by Karnataka in last season, ISMA expects 31 lakh tonnes of sugar to be produced in the State this year.

In Gujarat, 20 sugar mills are operating during 2016-17 SS and they have produced 3.50 lakh tonnes of sugar till 31 December 2016. In 2015-16 SS, 19 sugar mills were in operation on 31 December 2015, who had produced 4.61 lakh tonnes of sugar till that date.

In Tamil Nadu, 25 sugar mills are in operation as on 31 December 2016 which has produced 1.25 lakh tonnes as compared to 1.01 lakh tonnes of sugar production by 25 mills as on 31 December 2015.

In Andhra Pradesh and Telangana, 24 sugar mills have produced 1.80 lakh tonnes of sugar till 31 December 2016 and this is 0.18 lakh tonnes less than the sugar produced by 25 mills in 2015-16 SS till 31 December 2015.

11 mills in Bihar have produced 1.50 lakh tonnes of sugar till 31 December 2016 as against 1.37 lakh tonnes produced by 11 mills in 2015-16 season as on 31 December 2015. Similarly, 14 mills in Haryana, 16 in Punjab, 17 mills in Madhya Pradesh & Chhattisgarh and 8 mills in Uttarakhand have together produced 4.45 lakh tonnes, as compared to 3.85 lakh tonnes produced on the corresponding date last year.

As per information gathered from the main sugar belt of Maharashtra viz. Kolhapur, Sangli and Satara, most of the sugar mills in these regions will continue their operations till end of March 2017, whereas mills in Pune and Ahmednagar are likely to operate till later part of February 2017. Average sugar recovery achieved by the mills of Maharashtra so far is more or less same as that of last year till December 2016. Early closures are mainly because of lower sugarcane production in some parts of Maharashtra, which have been accounted for while estimating sugar production from the State in the current year.

Ex-mill sugar prices which dropped by Rs. 2 to 3 per kilo since second week of November, 2016 have started improving and are now at the levels seen a couple of months back. These prices are just enough to cover the costs of production.

With lower offtake and sugar consumption in 2016-17, the sugar stocks at the end of the current season may be more, than being estimated earlier, by 5-10 lakh tonnes. However, one needs to do more analysis to arrive at the figure of estimated consumption.

ISMA will carry out its second advance estimate for sugar production in 2016-17, in later part of January, 2017, which will be based on satellite images. Trend of yields and recoveries up to January, 2017 would be considered. ISMA will review the same in its Committee Meeting on 25 January, 2017, and release its second advance estimate for 2016-17 sugar production on that date.

With higher cane price announced by State Governments like Uttar Pradesh, Punjab and Haryana, low sugar recovery being achieved in the States like Tamil Nadu, Andhra Pradesh etc. and lower capacity utilization in the drought affected States like Maharashtra, Karnataka, Telangana etc. the all India average cost of production of sugar during the current 2016-17 SS, will roughly be higher at around Rs. 35 to 36 per kilo (Rs. 2 per kilo higher than the previous years cost of production).

Sugar mills should be allowed to recover at least their costs during the current season, otherwise, they would not be in a position to make payments to farmers on time and would also not be in a position to repay the loans taken from Government of India including under SEFASU and soft loans, which are due to be repaid this year.

The first 3 months of the current season i.e. October-December 2016, has seen a big fall in sugar offtake. With weddings and family celebrations being at low key, and consumption of sugar sweetened products like biscuits, chocolates, beverages, ice creams etc. being lower due to lower availability of currency, there has been a demand destruction of almost 5 lakh tonnes of sugar. The offtake in October-December 2017 has therefore been significantly lower than last year.

Therefore, the sugar consumption in 2016-17 SS, earlier estimated to grow at 2% over last year, to 255 lakh tonnes, will be much lower. The offtake may thus be lower to even last years consumption of 248 lakh tonnes.

Powered by Capital Market - Live News

RBI introduces Facility for Citizens and NRIs who were Abroad for Exchange of SBNs
Jan 03,2017

The Reserve Bank of India has introduced a facility of exchange of specified bank notes (SBNs) to give an opportunity to Indian citizens and non resident Indian (NRI) citizens who were abroad during November 9, 2016 to December 30, 2016.

Resident Indian citizens who were abroad during November 9, 2016 to December 30, 2016 can avail this facility upto March 31, 2017 and Non Resident Indian citizens who were abroad during November 9, 2016 to December 30, 2016 can avail this facility upto June 30, 2017.

While there is no monetary limit for exchange for the eligible Resident Indians, the limit for NRIs will be as per the relevant FEMA Regulations. They can avail this facility in their individual capacity once during the period on submission of ID documents, such as, Aadhaar number, Permanent Account Number (PAN) etc, and on submission of documentary evidence showing they were abroad during the period and, that they have not availed the exchange facility earlier, Customs certificate about import of SBNs by NRIs etc. No third party tender will be accepted under the facility.

On fulfilment of the terms and conditions and the genuineness of the notes tendered, admissible amount will be credited to the tenderers KYC compliant bank account.

The facility will remain open for residents from January 2, 2017 to March 31, 2017 and for NRIs from January 2, 2017 to June 30, 2017.

This facility will be available through Reserve Bank offices at Mumbai, New Delhi, Chennai, Kolkata, and Nagpur.

Indian citizens resident in Nepal, Bhutan, Pakistan and Bangladesh cannot avail this facility.

Any person, aggrieved by the decision of the Reserve Bank may prefer an appeal to the Central Board of the Reserve Bank within fourteen days of the communication of such refusal to him.

The facility has been introduced in terms of Section 4 (1) of the Specified Bank Notes (Cessation of Liabilities) Ordinance, 2016 of the Government of India dated December 30, 2016 read with Notification S.O. 4251(E) dated December 30, 2016.

Powered by Capital Market - Live News

RBI issues additional steps for Allocation of cash for rural areas
Jan 03,2017

On observing that bank notes, being supplied to rural areas, at present, are not commensurate with the requirements of rural population, and with a view to ensure that at least 40% bank notes are supplied to rural areas and to mitigate the issue in a more enduring manner, the banks maintaining currency chests are advised to take the following additional steps:

Distribution Channels and Proportion of currency flow

i. Banks should advise their currency chests to step up issuance of fresh notes to rural branches of RRBs, DCCBs and commercial banks, White Label ATMs in rural areas and post offices in rural areas on priority basis which are considered main rural channels of distribution.

ii. As the rural requirements could vary from district to district depending on variations in the rural and urban mix of each district in terms of relative shares in CASA deposits and number of deposit accounts, to facilitate a need based approach in this regard a certain percentage of allocation has been assigned to each district as per Annex 1 depending on the rural and urban mix.

iii. Accordingly, all Chests operating in a district must issue bank notes to the above mentioned distribution channels in the indicated proportion. The indicated proportion may be maintained on weekly average basis at each chest level as it may be difficult to stick to the proportion on daily basis.

Reporting for monitoring

iv. Currency chests must furnish daily issuances to the above categories to their Link Offices (LO) along with chest slips with a weekly summary as at close of business on every Friday. LOs should in turn forward it to the RBIs Regional Office concerned (reporting format annexed) to facilitate a review. It may be similar to the chest balances reporting mechanism. LOs may monitor the daily reports to avoid lumpiness in issuances and to ensure that issuances are evenly.

Denominational mix

v. Chests should issue bank notes in denominations of ₹ 500 and below. In particular ATMs, including WLAOs, may be issued ₹ 500s and ₹ 100s and among ATMs category, Off-site ATMs should be allocated higher proportion of cash as against on site ATMs as they are more important in last mile currency connectivity.

vi. Existing stock of other denominations notes below ₹ 100 should be issued liberally.

vii. Banks should indent for coins, obtain supply from Issue Departments of Reserve Bank of India, if required, and ensure supply to public on priority basis.

Powered by Capital Market - Live News

Ind-Ra: Demonetisation to Derail Cement Sector Growth
Jan 03,2017

Demonetisation to derail the growth of the cement sector says India Ratings and Research (Ind-Ra). Cement production is likely to grow by around 4% in FY17; the agency earlier estimated 4%-6% growth for FY17. Ind-Ra expects the credit profile of pan India cement players and strong regional players to remain stable; however the credit profile of small and medium cement companies, with high debt levels will come under stress in the next two quarters.

Ind-Ra had highlighted that the impact of this policy measure will flow to the economy mainly through the real estate/construction sector, which has strong linkages with sectors such as cement and steel and they will turn credit negative in the short-run.

The lower cement output for FY17 is expected due to the fall in production of the sector in the month of November-December 2016. Cement production has grown by 4.3% during April-November 2016 and it recorded a growth of 0.5% in November 2016 (October:6.2%, September:5.5%).

The agency notes that post demonetisation all India volumes declined in the range of 20%-25% in November-December 2016; while pan-India realisations have declined in the range of INR15/bag-INR20/bag in the same period.

Pet coke which is a key raw material for the sector has shown an upward movement in prices to around USD60-USD70 per tonne from USD40 per tonne at the beginning of the financial year. The rise in pet coke prices coupled with increase in diesel prices is likely to increase power, fuel and freight costs for companies. The higher input cost and lower demand is expected to limit the ability of cement manufacturers to pass on the higher prices to the end consumers, thus potentially squeezing margins.

Ind-Ra expects that post demonetisation, demand from the housing sector (contributes around 65% cement demand) is likely to declined further. The demand from individual home builders (which mainly consists of farmers) are expected to increase in FY17, due to a better monsoon; however post demonetisation Ind-Ra expects that cash availability with individual home builders will also be limited.

Ind-Ra believes that the working capital cycle for cement companies is likely to increase (most cement companies are net working capital negative) due to the likely additional credit given to dealers, as most of dealers have shifted to digital payments.

Powered by Capital Market - Live News

Bond yield decline on surprise cut in government borrowing
Jan 03,2017

India bond yield declined to 6.37% at 1.10 pm on 3 January 2017, after the government unexpectedly lowered its borrowing target for the financial year. After reviewing the cash position of the Central Government, Government of India, in consultation with Reserve Bank of India, has revised the auction calendar for the issuance of Government dated securities for the remaining part of H2 of 2016-17. The administration will sell notes worth Rs 66000 crore through six equal weekly auctions between 02 January 2017 to 10 February 2017. Thats Rs 18000 crore less than what was planned earlier in the borrowing calendar released in September.

The yield on 10-year benchmark federal paper, 6.97% GS 2026, dipped 7 basis points to 6.33% at 10.11 IST, compared with 6.40% at close in the previous trading session. A close at this level will be the lowest since 05 December 2016, when yield eased to 6.20%. The yield sank 11 basis points, the most in six weeks, on 02 January 2017 after banks slashed their key lending rates, boosting speculation that cash conditions in the financial system will stay benign and support demand for debt.

Powered by Capital Market - Live News

Government realizes Rs.21,432.38 crore, by end-November 2016, through CPSEs disinvestment receipts
Jan 03,2017

Following are the major reform measures, policy initiatives and achievements of the Department of Investment and Public Asset Management (DIPAM), Ministry of Finance:

A. Disinvestment Target and Achievements during 2016-17

The disinvestment target for the Current Financial Year 2016-17 has been estimated at Rs.56,500 crore comprising Rs.36,000 crore from disinvestment of CPSEs and Rs.20,500 crore from strategic disinvestment.

During the current financial year 2016-17, the Government has so far realized Rs.23528.73 crore, which include Rs.21,432.38 crore through minority stake sale in 14 CPSEs and Rs. 2096.35 crore through strategic disinvestment. The total realization of Rs. 21,432.38 crore, by end-November 2016 through CPSEs disinvestment receipts, constitutes around 59.53 per cent of the Budgeted Target of Rs. 36,000 crore (CPSEs disinvestment).

B. Reform Measures and Policy Initiatives:

(a) Steps taken to accelerate the disinvestment process:

The Department has taken following measures to accelerate the disinvestment process:

(i) Replacing annual plan with rolling plans.

(ii) Creating a pipeline of proposals for CPSEs to take advantage of better market condition without any loss of time.

(iii) Fast tracking of approval process.

(iv) Disinvestment programme made more inclusive by following an approach to reserve 20 per cent of shares on PSUs-OFS transactions for retail investors on a case to case basis.

(v) Based on the suggestion made by the Department, SEBI has reduced the notice period for an OFS transaction from T-2 to T-1 (T being the transaction day). This will help in minimizing the possibility of price hammering between the notice day and the transaction day and suitably protecting the interest of retail investors by providing them sufficient time to participate in the OFS transaction.

(b) Restructuring and re-naming the Department to comprehensively manage the Governments investment in PSUs as DIPAM

(i) The Union Finance Minister has underlined the need for adopting a comprehensive approach to efficiently manage its investment in CPSEs as highlighted in Para 89 of his Budget Speech of 2016-17 as below:

n++We will adopt a comprehensive approach for efficient management of Government investment in CPSEs by addressing issues such as capital restructuring, dividend, bonus shares, etc. The Department of Disinvestment is being re-named as the Department of Investment and Public Asset Management (DIPAM)n++

(ii) In the light of the announcement made, the Department has been re-named as Department of Investment and Public Asset Management (DIPAM) which is in line with focus of the Government on management of its investment in Central Public Sector Enterprises (CPSEs) for accelerating economic development as well as augmenting the Government resources for higher expenditure. It also underlines the Governments recognition of its investment in CPSEs as an important asset for accelerating economic growth and commitment to efficient use of its resources to achieve a better return on its investment in CPSEs.

(iii) As announced in the Budget, guidelines on n++Capital Restructuring of CPSEsn++ have also been issued by this Department on 27th May, 2016. These guidelines supersede all previously issued guidelines by various Ministries/Departments from time to time and comprehensively deal with the inter-related issues on payment of dividend, buy back of shares, issue of bonus shares and splitting of shares. The focus of these guidelines is on optimum utilization of funds by CPSEs/Government to spur economic growth.

C. The major achievements/highlights in respect of disinvestment of CPSEs are as under:

(i) NHPC OFS

CCEA in its meeting held on 10.09.2014 approved 11.36 per cent disinvestment in NHPC out of GoI shareholding of 85.96% per cent, through an OFS. The OFS took place on 27.04.2016 & 28.04.2016. The Government realised an amount of Rs.2,716.55 crore.

(ii) MOIL Buyback

The Alternative Mechanism in its meeting held on 07.06.2016 approved participation of Government in Buyback of shares by MOIL. The MOIL buyback offer opened on 19.09.2016 and closed on 30.09.2016. The Government realised an amount of Rs.793.87 crore.

(iii) NMDC Buyback

The Alternative Mechanism in its meeting held on 07.06.2016 approved participation of Government in Buyback of shares by NMDC. The NMDC buyback offer opened on 19.09.2016 and closed on 30.09.2016. The Government realised an amount of Rs.7,519.15 crore.

(iv) BEL Buyback

The Alternative Mechanism in its meeting held on 05.08.2016 approved participation of Government in Buyback of shares by BEL. The BEL buyback offer opened on 06.10.2016 and closed on 21.10.2016. The Government realised an amount of Rs.1,802.60 crore.

(v) NTPC Employee OFS -

NTPC Employee OFS was opened on 27.06.2016 and closed on 05.07.2016. The Government realised an amount of Rs.203.78 crore.

(vi) NHPC Employee OFS

NHPC Employee OFS was opened on 04.11.2016 and closed on 11.11.2016. The Government realised an amount of Rs.21.27 crore.

(vii) DCIL Employee OFS

DCIL Employee OFS was opened on 31.10.2016 and closed on 15.11.2016. The Government realised an amount of Rs.0.93 crore.

(viii) NALCO OFS

CCEA in its meeting held on 19/02/2015 approved disinvestment of 10 per cent paid up equity of National Aluminium (NALCO) out of Government of Indias shareholding of 80.93 per cent through Offer for Sale (OFS). The Legal Advisers and Merchant Bankers have been appointed and non deal road shows are being conducted.

(ix) Buyback of shares by NALCO

Board of NALCO in its meeting held on 25th May, 2016 recommended buyback of fully paid equity shares not exceeding 64,43,09,628 (of face value Rs. 5 each) at price of Rs. 44/- per share. Government of India also participated in said buyback. On this account, GoI received an amount of Rs. 2831.71 crore and its share holding came down to 74.57 per cent, from 80.93 per cent prior to buyback.

(x) HCL OFS

CCEA in its meeting held on 13/05/2015 had approved disinvestment of 15 per cent paid-up equity of Hindustan Copper (HCL) out of Government of Indias shareholding of 89.95 per cent through Offer for Sale (OFS). In first tranche, disinvestment of 7 per cent paid-up equity capital of HCL through OFS method was held on 29/09/2016 & 30/09/2016. A total number of 6,47,65,260 equity shares were offered for sale at floor price of Rs. 62/- per share. The issue was over-subscribed and GoI received an amount of Rs. 399.93 crores as disinvestment proceeds from the said transaction.

(xi) Buyback of shares by CIL

The Board of Coal India in its meeting held on 11th July, 2016 recommended buyback of fully paid equity shares not exceeding 10,89,55,223 ( Face value Rs. 10) at Rs. 335/- per equity share. GoI participated in said buyback. On this account, Government of India received an amount of Rs. 2638.24 crore. Post buyback, the GoI shareholding in CIL has slightly increased to 79.78 per cent from 79.65 per cent prior to buyback.

(xii) CONCOR Employees OFS

Government has received an amount of Rs. 9.34 crore on account of transfer of shares to the employees of CONCOR held in September, 2016 post OFS of the Company.

(xiii) IOCL Employees OFS

Government has received an amount of Rs. 262 crore on account of transfer of shares to the employees of IOCL held in May, 2016 post OFS of the Company.

(xiv) NBCC OFS

OFS of 15 per cent Government of India shareholding in NBCC was launched on 20th October, and completed on 21st October, 2016. The OFSs sale proceeds was Rs. 2201.14 crore.

(xv) Disinvestment of SUUTI holdings

1,48,23,702 shares of Larsen & Toubro (1.62 per

Government Constitutes a Committee for Improvement in National Sports Development Code and Functioning of National Sports Federations
Jan 03,2017

In the wake of IOA episode, the Minister of State (I/C) for Youth Affairs and Sports Shri Vijay Goel has decided to constitute a Committee headed by Secretary (Sports) to suggest improvements in the National Sports Development Code and functioning of Sports Federations etc. The committee will give its report within one month.

In the recent past the Ministry has already held meetings with the various stakeholders such as the National Sports Federations, Sports Ministers and Secretaries from different States, Olympians, Arjun Awardees, Dronacharya Awardees, NGOs, field officers of the Sports Authority of India etc. on issues of good governance and transparency.

The new Committee will suggest improvements in the present National Sports Development Code on the basis of suggestions and feedback given in these meetings and submit a report within a month so that Sports Bodies work as per the public expectations for the promotion of sports in the country.

Powered by Capital Market - Live News

Trash Skimmers to be Introduced In Six New Cities for Surface Cleaning Of Ganga
Jan 02,2017

National Mission for Clean Ganga (NMCG) will introduce trash skimmers for surface cleaning of Ganga in six more cities in the first week of this month. The cities are Rishikesh, Haridwar, Garh Mukhteshwar, Sahibganj, Kolkata and Navdweep. Urban Local Bodies will be the nodal agency to monitor this work. State Programme Management Groups (SPMGs) and Collectorate office will be supervising these works under the aegis of NMCG at State and district level respectively.

River Surface Cleaning (RSC) work was introduce last year in Allahabad, Kanpur, Varanasi, Mathura-Vrindavan in Uttar Pradesh and Patna in Bihar. Trash skimmers were deployed at the foregoing locations and tonnes of floating waste was collected and disposed off in a proper manner. This task was performed under the CSR head and proved to be extremely effective. In the coming days, more towns will be identified for carrying out similar activities.

Namami Gange programme was launched as a mission to achieve the target of cleaning river Ganga in an effective manner with the unceasing involvement of all stakeholders, especially five major Ganga basin States - Uttarakhand, Uttar Pradesh, Jharkhand, Bihar and West Bengal.

Powered by Capital Market - Live News

Eight core infrastructure sector output rises 4.9% in November 2016
Jan 02,2017

The output of eight core infrastructure industries, comprising nearly 38% of the weight of items included in the Index of Industrial Production (IIP), rose 4.9% in November 2016 over November 2015. Its cumulative growth also stood at 4.9% in April to November 2016-17.

Coal production (weight: 4.38%) increased by 6.4% in November, 2016 over November, 2015. Its cumulative index during April to November, 2016-17 increased by 1.6% over corresponding period of previous year.

Crude Oil production (weight: 5.22%) declined by 5.4% in November, 2016 over November, 2015. Its cumulative index during April to November, 2016-17 declined by 3.5% over the corresponding period of previous year.

The Natural Gas production (weight: 1.71%) declined by 1.7% in November, 2016 over November, 2015. Its cumulative index during April to November, 2016-17 declined by 3.7% over the corresponding period of previous year.

Petroleum Refinery production (weight: 5.94%) increased by 2.0% in November, 2016 over November, 2015. Its cumulative index during April to November, 2016-17 increased by 8.0% over the corresponding period of previous year.

Fertilizer production (weight: 1.25%) increased by 2.4% in November, 2016 over November, 2015. Its cumulative index during April to November, 2016-17 increased by 4.5% over the corresponding period of previous year.

Steel production (weight: 6.68%) increased by 5.6% in November, 2016 over November, 2015. Its cumulative index during April to November, 2016-17 increased by 8.2% over the corresponding period of previous year.

Cement production (weight: 2.41%) increased by 0.5% in November, 2016 over November, 2015. Its cumulative index during April to November, 2016-17 increased by 4.3% over the corresponding period of previous year.

Electricity generation (weight: 10.32%) increased by 10.2% in November, 2016 over November, 2015. Its cumulative index during April to November, 2016-17 increased by 5.4% over the corresponding period of previous year.

Powered by Capital Market - Live News

Many New Projects Under Namami Gange Approved For Haridwar and Varanasi
Jan 02,2017

Many new projects under Namami Gange programme in Haridwar and Varanasi have been approved by National Mission for Clean Ganga.

In Haridwar, approval for 68 MLD sewage treatment plant (STP) in Jagjeetpur and 14 MLD STP in Sarai have been approved at an indicative cost of Rs 110.30 crore and Rs 25 crore respectively under Hybrid Annuity based PPP mode. Apart from this, while Rs 8.34 crore has been allocated for tertiary treatment of existing 27 MLD plant in Jagjeetpur, Rs 5.32 crore has been allocated for tertiary treatment of existing 18 MLD plant in Sarai under Design, Build, Operate and Transfer (DBOT) mode. Also, I&D works at Jagjeetpur and Sarai would be done at an indicative cost of Rs 81.15 crore and Rs 29.75 crore respectively under DBOT mode.

In-principle approval for the implementation of 50 MLD sewage treatment plant at Ramana in Varanasi has been given at an indicative cost of Rs 120 crore under Hybrid Annuity-based PPP mode.

After the completion of the tender processes, Administrative Approval and Expenditure Sanction (AA&ES) of the projects will be given by the Executive Committee.

Namami Gange programme was launched as a mission to achieve the target of cleaning river Ganga in an effective manner with the unceasing involvement of all stakeholders, especially five major Ganga basin States - Uttarakhand, Uttar Pradesh, Jharkhand, Bihar and West Bengal. The programme envisages River Surface Cleaning, Sewerage Treatment Infrastructure, River Front Development, Bio-Diversity, Afforestation and Public Awareness.

Powered by Capital Market - Live News

Restaurants billing service charges in addition to taxes is optional: Department of Consumer Affairs
Jan 02,2017

A number of complaints from consumers have been received that hotels and restaurants are following the practice of charging service charge in the range of 5-20%, in lieu of tips, which a consumer is forced to pay irrespective of the kind of service provided to him. The Consumer Protection Act, 1986 provides that a trade practice which, for the purpose of promoting the sale, use or the supply of any goods or for the provision of any service, adopts any unfair method or deceptive practice, is to be treated as an unfair trade practice and that a consumer can make a complaint to the appropriate consumer forum established under the Act against such unfair trade practices. In this context, the department of Consumer Affairs, Central Government has called for clarification from the Hotel Association of India, which have replied that the service charge is completely discretionary and should a customer be dissatisfied with the dining experience he/she can have it waived off. Therefore, it is deemed to be accepted voluntarily.

The Department of Consumer Affairs has asked the State Governments to sensitize the companies, hotels and restaurants in the states regarding aforementioned provisions of the Consumer Protection Act, 1986 and also to advise the Hotels/Restaurants to disseminate information through display at the appropriate place in the hotels/restaurants that the service charges are discretionary/ voluntary and a consumer dissatisfied with the services can have it waived off.

Powered by Capital Market - Live News

Under-recoveries for the month of January 2017 will be Rs. 12.78 per litre for PDS Kerosene
Jan 02,2017

The Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas has reviewed international prices of crude oil and petroleum products for the month of December 2016. In the case of PDS Kerosene, the under-recoveries with effect from January 1, 2017 will be Rs 12.78 per litre. The under-recovery was Rs. 10.51 per litre in the first fortnight of December 2016 and Rs. 10.26 in the last fortnight of the month. The cash transfer to customer under DBTL will be Rs. 150.29, out of which Rs. 121.87 will be Cash Compensation on Domestic LPG by Govt. to consumers & Rs 28.42 will be the Cash compensation on Domestic LPG by OMCs towards Uncompensated Costs to consumers.  

 Product-wise Under-recoveries of Public Sector Oil Marketing Companies (OMCs): 

ProductUnitUnder  Recovery (eff. 1st Jan 17)Cash transfer to customer under DBTL(eff. 1st Jan 17)PDS Kerosene*(Rs./Litre)12.78-Cash Compensation on Domestic LPG by Govt. to consumers**(Rs./Cylinder)-121.87Cash Compensation on Domestic LPG by OMCs towards Uncompensated Costs to consumers**(Rs./Cylinder)-28.42

 * Under Recovery is for Mumbai Market.

 ** Cash Subsidy is for Delhi market.

The under-recoveries/DBTL Subsidy for 2015-16 was Rs. 27,571 crore, while the figure was Rs 76, 285 crore for 2014-15.

Powered by Capital Market - Live News