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Aptech director resigns
Jan 17,2017

Aptech announced that Yash Mahajan, Independent Director of the Company, has vide his letter dated 16 January 2017, tendered resignation from the Directorship of the Company with immediate effect due to his inability to devote time.

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VLS Finance director resigns
Jan 17,2017

VLS Finance announced that V. G. Kannan, an Additional Director in the category of independent director has resigned w.e.f. 05 January 2017.

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TCS recognised for excellence in execution and innovation in digital marketing services
Jan 17,2017

Tata Consultancy Services announced that it has been position in the highest overall performance category for demonstrating excellence in execution and innovation in digital marketing services by analyst firm HfS Research in its latest Blueprint Digital Marketing Operations Report.

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Ideal Texbuild enters into agreement with Rite Developers for development of residential flats
Jan 17,2017

Ideal Texbuild has entered into agreement with Rite Developers for development of residential flat in the name and style of Rite Luxuria situated at Mulund East, Mumbai-81. According to this agreement, the Company will carry the job work with material to develop the said project as per the agreement with Rite Developers on 17 January 2017. The Company is also in the process to acquire two such more projects for the development of various construction related business in the very near future.

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United Spirits gets revision in credit ratings
Jan 17,2017

United Spirits has received a revision in rating from ICRA as under -

Term loans (Rs 2900 crore) - ICRA AA; Positive (Revised from ICRA A+; Positive)

Fund based facilities (Rs 2400 crore) - ICRA A1+ (Reaffirmed)

Non fund based facilities (Rs 400 crore) - ICRA A1+ (Reaffirmed)

Commercial Paper (Rs 1000 crore) - ICRA A1+ (Reaffimed)

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Hinduja Ventures completes divestment of stake held on Hinduja Energy
Jan 17,2017

Hinduja Ventures has divested 61147056 equity shares of Hinduja Energy (India) at a profit and fully realised the sales proceeds.

The Company had invested Rs 187.10 crore in 61147056 equity shares of Hinduja Energy (India) in November 2013. The Board of Directors at its meeting held on 26 October 2016 and 22 December 2016 has approved the divestment of the said shares of Hinduja Energy (India).

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State Bank of Travancore appoints directors
Jan 17,2017

State Bank of Travancore announced that Manish Kumar, Under Secretary, Department of Financial Services, Ministry of Finance has been nominated as the Government Nominee Director on the Board of Directors of the Bank by the Government of India under Section 25 (1) (e) of the State Bank of India (Subsidiary Banks) Act, 1959 with immediate effect and until further orders as per the Government of India letter dated 16 January 2017.

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Take Solutions intimates of exercise of ESOP options
Jan 17,2017

Take Solutions announced that the employees of the Company have exercised 34,600 Equity Shares under the TAKE Solutions Employee Stock Option Plan, 2007 for the quarter ended 31 December 2016.

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Choice International standalone net profit rises 276.92% in the December 2016 quarter
Jan 17,2017

Net profit of Choice International rose 276.92% to Rs 0.98 crore in the quarter ended December 2016 as against Rs 0.26 crore during the previous quarter ended December 2015. Sales declined 58.93% to Rs 3.08 crore in the quarter ended December 2016 as against Rs 7.50 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales3.087.50 -59 OPM %38.9618.53 - PBDT1.380.37 273 PBT1.210.09 1244 NP0.980.26 277

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Savant Infocomm reports standalone net loss of Rs 0.02 crore in the December 2016 quarter
Jan 17,2017

Net Loss of Savant Infocomm reported to Rs 0.02 crore in the quarter ended December 2016 as against net loss of Rs 0.02 crore during the previous quarter ended December 2015. There were no Sales reported in the quarter ended December 2016 and during the previous quarter ended December 2015.

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States cant dilute Real Estate Act- Shri M.Venkaiah Naidu
Jan 17,2017

Minister of Housing and Urban Poverty Alleviation Shri M. Venkaiah Naidu urged the States and Union Territories to rise to the occasion and implement the Real Estate (Regulation & Development) Act 2016 from the first of May this year, as proposed in the Act. He addressed a meeting of Chief Secretaries and senior officials of States and UTs convened by the Ministry of HUPA to discuss implementation of the Real Estate Act.

Shri Venkaiah Naidu said n++ Real Estate Act is one of the most consumer friendly laws passed by the Parliament and States have no power to dilute its provisions. This law, which was widely welcomed and appreciated benefits both the buyers and sellers of real estate properties besides enhancing the credibility of the sector. There is lot of hope and expectation from this act by all the stakeholders. There are some media reports that some States have diluted some provisions of the Act in the Rules notified by them. States dont have such powers and I hope such reports are not true. Today, I want to make it clear that any compromise with the spirit of the Act will have serious implications including public outcry. Whoever does so will have to face the public outcry. I expect the States and UTs to rise to the occasion and ensure implementation of the Act from May this year as proposed in the Act by taking necessary measures in timen++.

Later, various aspects of the Real Estate Act were discussed in detail. Responding to the views and suggestions made, Dr.Nandita Chatterjee, Secretary(HUPA) clarified that no amendments to the Act would be considered at this stage since full implementation of the Act would begin only in May this year when Real Estate Regulatory Authorities and Appellate Tribunals would become functional.

Dr. Chatterjee also clarified that the minimum plot size of 500 sq.mt proposed in the Act for registration of projects with Regulatory Authorities was arrived at after several rounds of discussions by the Parliamentary Committees and in the Parliament and it cant be altered now. She said that the cut off date for the ongoing projects that have not received completion certificates for including under the purview of the Real Estate Act would be May first this year, from when the full Act comes into effect.

Regarding other issues raised by the States, the Ministry officials stated that necessary clarity for the purpose of implementation of the Act can be given in the Rules to be notified by the States/UTs, without violating the spirit of the Act. These include stilt parking to be used as garage.

Responding to the issue of excluding balconies from the definition of carpet area, it was explained that it posed no problems as costing could be accordingly informed to the buyers. Interim Regulatory Authorities have been proposed in the Act so that they could put in place necessary institutional mechanisms for full fledged Regulatory Authorities could become functional from the first of May this year, it was explained.

The Ministry has agreed to come out with a template for Website to be made operational for disclosure of a range of information about the projects as mandated under the Act. Any expenditure incurred by the promoters on development of land could be included as part of the cost of land, States were told.

During the review, it revealed that Andhra Pradesh, Arunachal Pradesh, Chattisgarh, Haryana, Himachal Pradesh, Jharkhand, Karnataka, Kerala, Mizoram, Rajasthan, Tamil Nadu and Puducherry would notify the Real Estate Rules next month.

Punjab and Uttarakhand have informed that the needful would be done after the elections to the State Assemblies.

Real Estate Rules have so far been notified for Gujarat, Madhya Pradesh, Maharashtra, Uttar Pradesh, Delhi, Chandigarh, Andaman & Nicobar Islands, Dadra and Nager Haveli, Daman & Diu and Lakshadweep.

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NIIT Technologies standalone net profit declines 42.31% in the December 2016 quarter
Jan 17,2017

Net profit of NIIT Technologies declined 42.31% to Rs 28.31 crore in the quarter ended December 2016 as against Rs 49.07 crore during the previous quarter ended December 2015. Sales rose 0.51% to Rs 382.99 crore in the quarter ended December 2016 as against Rs 381.04 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales382.99381.04 1 OPM %14.0420.74 - PBDT58.7880.98 -27 PBT35.7459.50 -40 NP28.3149.07 -42

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Duke Offshore standalone net profit rises 56.48% in the December 2016 quarter
Jan 17,2017

Net profit of Duke Offshore rose 56.48% to Rs 1.69 crore in the quarter ended December 2016 as against Rs 1.08 crore during the previous quarter ended December 2015. Sales rose 5.96% to Rs 2.49 crore in the quarter ended December 2016 as against Rs 2.35 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales2.492.35 6 OPM %77.1156.60 - PBDT1.971.34 47 PBT1.691.08 56 NP1.691.08 56

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Can Fin Homes standalone net profit rises 41.30% in the December 2016 quarter
Jan 17,2017

Net profit of Can Fin Homes rose 41.30% to Rs 59.60 crore in the quarter ended December 2016 as against Rs 42.18 crore during the previous quarter ended December 2015. Sales rose 23.92% to Rs 349.49 crore in the quarter ended December 2016 as against Rs 282.03 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales349.49282.03 24 OPM %93.0491.98 - PBDT94.7968.61 38 PBT93.8867.68 39 NP59.6042.18 41

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Havells India standalone net profit rises 27.55% in the December 2016 quarter
Jan 17,2017

Net profit of Havells India rose 27.55% to Rs 152.97 crore in the quarter ended December 2016 as against Rs 119.93 crore during the previous quarter ended December 2015. Sales rose 13.10% to Rs 1493.61 crore in the quarter ended December 2016 as against Rs 1320.60 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales1493.611320.60 13 OPM %12.9214.02 - PBDT217.82196.53 11 PBT187.72169.93 10 NP152.97119.93 28

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