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HDFC Bank recovers in volatile trade after announcing good Q2 results
Oct 25,2016

The result was announced during market hours today, 25 October 2016.

Meanwhile, the S&P BSE Sensex was down 114.64 points or 0.41% at 28,064.44

On BSE, so far 96,250 shares were traded in the counter as against average daily volume of 94,798 shares in the past one quarter. The stock recovered in volatile trade. The stock hit a high of Rs 1,265.50 and a low of Rs 1,244.75 so far during the day. The stock had hit a 52-week high of Rs 1,318.20 on 23 September 2016. The stock had hit a 52-week low of Rs 928.80 on 29 February 2016. The stock had underperformed the market over the past 30 days till 24 October 2016, falling 3.64% compared with 1.71% decline in the Sensex. The scrip, however, outperformed the market in past one quarter, gaining 2.16% as against Sensexs 0.72% rise.

The large-cap bank has equity capital of Rs 509.13 crore. Face value per share is Rs 2.

HDFC Bank is one of the leading private sector banks in India.

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Board of Geometric approves allotment of equity shares under ESOP
Oct 25,2016

Geometric announced that the Board of Directors of the Company at its meeting held on 25 October 2016, inter alia, has approved allotment of 773,470 (Seven Lakhs Seventy three thousands four hundred and seventy only) Equity shares of Rs. 2/- each on the exercise of vested stock options under the ESOP Scheme 2011, ESOP Scheme 2013 - Employees and ESOP Scheme 2013-Directors.

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Gujarat Industries Power Co commissions 9 WTGs aggregating 18 MW
Oct 25,2016

Gujarat Industries Power Co announced that nine (9) Wind Turbine Generators (WTGs) of 2 MW each aggregating to 18 MW have been commissioned by GIPCL at the Rojmal Wind Farm Site, Dist.: Amreli, Gujarat. Gujarat Energy Development Agency (GEDA) has issued Certificate of Commissioning dated 20 October 2016.

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Board of Techtran Polylenses accepts resignation of director
Oct 25,2016

Techtran Polylenses announced that the Board of Directors of the Company through circular resolution dated 28 August 2016 have accepted the notice of resignation dated 28 August 2016 of Dr. Uma Devi Komath as a Non Executive Director of the Company with effect from 28 August 2016.

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Gujarat Industries Power Co commissions 8 WTGs aggregating 16.8 MW
Oct 25,2016

Gujarat Industries Power Co announced that Eight (8) Wind Turbine Generators (WTGs) of 2.1 MW each aggregating to 16.8 MW have been commissioned by GIPCL at the Nakhatrana Wind Farm Sites, Dist.: Kutch, Gujarat. Gujarat Energy Development Agency (GEDA) has issued Certificates of Commissioning dated 20 October 2016.

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Dr Reddys Lab gains on positive management comments
Oct 25,2016

Meanwhile, the S&P BSE Sensex was down 90.01 points or 0.32% at 28,089.07

On BSE, so far 81,320 shares were traded in the counter as against average daily volume of 35,035 shares in the past one quarter. The stock was volatile. The stock hit a high of Rs 3,163.90 and a low of Rs 2,842 so far during the day. The stock had hit a 52-week high of Rs 4,375.30 on 4 November 2015. The stock had hit a 52-week low of Rs 2,750 on 21 January 2016. The stock had underperformed the market over the past 30 days till 24 October 2016, falling 2.88% compared with 1.71% decline in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 7.02% as against Sensexs 0.72% rise.

The large-cap company has equity capital of Rs 85.39 crore. Face value per share is Rs 5.

Dr Reddys Laboratories (DRL)s consolidated net profit fell 60.12% to Rs 308.90 crore on 10.57% decline in total income to Rs 3660.10 crore in Q2 September 2016 over Q2 September 2015. The announcement was made during market hours today, 25 October 2016. The results are as per International Financial Reporting Standards (IFRS).

DRLs consolidated earnings before interest, taxation, depreciation and amortization (EBITDA) declined 43.64% to Rs 642 crore in Q2 September 2016 over Q2 September 2015. EBITDA margin contracted to 17.9% in Q2 September 2016, from 28.6% in Q2 September 2015.

DRLs revenue from global generics business declined 12% to Rs 2900 crore in Q2 September 2016 over Q2 September 2015 due to lower contribution from North America and loss of sales from Venezuela. Pharmaceuticals services and active ingredients (PSAI) business fell 2% to Rs 580 crore in Q2 September 2016 over Q2 September 2015.

Commenting on the companys results, DRLs co-chairman and CEO, G V Prasad said that the companys major businesses have shown sequential improvement in Q2 September 2016 with revenues growing by 11% and EBITDA by 61%. Looking ahead, the company will continue to focus on launching new products in its generics business, improving productivity and strengthening its quality management systems, Prasad said.

Dr Reddys Laboratories is an integrated global pharmaceutical company. It offers a portfolio of products and services including active pharmaceutical ingredients (APIs), custom pharmaceutical services, generics, biosimilars and differentiated formulations.

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GST will make Madhya Pradesh logistical hub of India : Finance Minister
Oct 25,2016

Shri Arun Jaitley, Finance Minister said that with the introduction of the GST regime, MP, the heart of India will transform into a supply hub for all the four corners of the country. He lauded the visionary leadership the Chief Minister of Madhya Pradesh that transformed the state from a BIMARU state to one posting a double-digit growth and one that is a favoured investment destination.

Shri Jaitley said the state governments focused efforts in the area of water, power and empowering the weaker sections of the society have contributed to its development. He said that the turning point for the state was the exceptional growth of near 20% that it posted in its agriculture sector for a couple of years, which increased rural purchasing power and prosperity.

Shri Shivraj Singh Chouhan, Chief Minister of Madhya Pradesh welcomed investors to Madhya Pradesh and said that the state which believes in the adage n++Vasudeva Kutumbakamn++, which means that entire world is one family. He said that GIS stood for Growth with Investment & Sustainabilityn++ and that the state of MP considers investor as their friend and partner in growth. The Chief Minister spoke about the huge strides made by the state in the area of power, water and infrastructure and urged investors to invest in Madhya Pradesh.

The Chief Minister said that the state moved from single window policy, to open door policy and further to single table policy today where he and his team work on investment facilitation. He said that the state has a land bank of 1,25,000 hectares also assured availability of skilled labour as per industry requirements. The Minister said that the commitment of his government is reflected in the fact that many businesses in the state have been set up in a period of 1-1.5 years and also commenced production.

Shri Ravi Shankar Prasad, Electronics & Information Technology Minister, Govt of India said that MP is an example of all-round development. He said that PM is the Captain of Team India and Chief Minister of Madhya Pradesh is the opening batsman of the team and has succeeded in leading the state to prosperity.

Shri Narendra Singh Tomar, Minister for Rural Development, Drinking Water & Sanitation, Govt of India appreciated efforts of the CM in the progress of the state of Madhya Pradesh. He said that the CM has targeted to achieve all-round and balanced development for the state with focus on with focus on villages, farmers and the poor.

Dr Naushad Forbes, President, CII & Co-Chairman, Forbes Marshal said that CII is privileged to partner with MP State Govt for GIS, the progressive convention series that showcases the remarkable progress made by the state of MP and the immense investment opportunity it offers. He said that Madhya Pradesh is not only fastest growing state in India but also fastest growing agri economy. This lays the foundation for rural prosperity and rural income which is favourable for overall economic development. Applauding the efforts of the State Government, Dr Forbes said that the state has laid the foundation for strong economic growth for the next 30 years.

Shri Chandrajit Banerjee, Director General, CII, said that the GIS exemplifies the spirit of teamwork under competitive and co-operative federalism. He thanked Chief Minister for the phenomenal leadership at the 5th GIS Summit.

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Aditya Birla Nuvo gains after RBI hikes FPIs investment limit
Oct 25,2016

Meanwhile, the BSE Sensex was down 94.48 points, or 0.34%, to 28,084.60.

On BSE, so far 9,710 shares were traded in the counter, compared with average daily volume of 1.07 lakh shares in the past one quarter. The stock hit a high of Rs 1,396 and a low of Rs 1,379.50 so far during the day. The stock hit a record high of Rs 1,664 on 9 August 2016. The stock hit a 52-week low of Rs 685 on 29 February 2016. The stock had outperformed the market over the past 30 days till 24 October 2016, falling 1.15% compared with 1.71% decline in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 0.27% as against Sensexs 0.72% rise.

The large-cap company has equity capital of Rs 130.23 crore. Face value per share is Rs 10.

The Reserve Bank of India (RBI) notified after market hours yesterday, that foreign institutional investors (FIIs)/registered foreign portfolios investors (RFPIs) can under the portfolio investment scheme (PIS) now invest up to 30% of the paid up capital of Aditya Birla Nuvo. The purchases could be made through primary market and stock exchanges. RBI stated that the companys board of directors has passed a resolution and its shareholders have passed a special resolution agreeing for enhancing the limit for the purchase of its equity shares by FIIs/RFPIs.

On a consolidated basis, Aditya Birla Nuvos net profit declined 56.79% to Rs 305.15 crore on 1.62% decline in net sales to Rs 3041.30 crore in Q1 June 2016 over Q1 June 2015. The company will announce Q2 results on 10 November 2016.

Aditya Birla Nuvo is a business conglomerate. It commands leadership position across its financial services, telecom, linen and manufacturing businesses.

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Opportunities galore for Japanese investments in Indias tourism infradevelopment: Tourism Minister
Oct 25,2016

Narendra Modi, Prime Minister of India, is determined to make tourism the backbone of the Indian economy as the sector has a multiplier effect on employment generation and foreign exchange earnings. Besides it encourages cultural and people to people exchange, said Dr. Mahesh Sharma, Minister of State (Independent Charge), Ministry of Tourism, Government of India, here today while inaugurating the first-ever IndiaJapan Tourism Meet organized by FICCI in partnership with the Embassy of Japan. The Minister said that the historical ties between India and Japan can be traced back to the sixth century when Buddhism was introduced in Japan. Since then the Japanese have cherished their sentiments towards India. And now India is striving to make the travel to various destinations in the country a truly magnificent experience for Japanese tourists with a strong focus on infrastructure, experience and information.

Dr. Sharma said in India the Buddhist circuit has been set up, which are a set of important locations where Lord Buddha had settled in his lifetime. This circuit should find favor with the Japanese as they are keen followers of Buddhism. He added that medical, wellness and Ayurveda were other areas which Japanese tourists would find endearing.

The Minister said that India lacked 290000 hotel rooms and there was immense scope of investment in infrastructure development for tourism. He urged Japanese business community to explore this area for investment and assured them of Indian governments unstinted support. Dr. Sharma added that the Indian government was working towards creating appropriate tourism infrastructure, maintaining cleanliness of tourism destinations and making the environment safe and secure for foreign tourists.

Kenji Hiramatsu, Ambassador of Japan to India, said that with the framework of Indo-Japan Tourism Council and Indo-Japan Tourism Summit that are set up and organized for the first time in India today, the participants should pursue n++action-orientedn++ outcomes to improve travel and tourism relationship between Japan and India in a visible way. This is a great opportunity for both governments and tourism industry to get together under one roof and to discuss the expansion of bilateral travel and tourism relations. The new networks that will be built among the participants today will create new opportunities, he added.

Hiramatsu said that travel and tourism between Japan and India was not as robust as we would expect, if we take into account the important relationship between the two countries. Japan welcomed about 100,000 visitors from India in 2015, and about 40,000 tourists among them. But 1.13 million Indians visited the United States during the same period. Therefore there is a tremendous potential of expanding travel and tourism between Japan and India.

In his keynote address, Suman Billa, Joint Secretary, Ministry of Tourism, Government of India, said that given Indian and Japans economic ties, the share of tourism between the two nations is miniscule and there is scope to improve the numbers. A marginal rise in the number of tourists visiting the Buddha circuit alone could enable Indian to earn USD 6-8 billion every year. He added that with significant steps tourism could increase five-fold between India and Japan from its current level.

Billa said that Indian tourists avoid Japan as there is a perception that traveling to the country is expensive. Such notions needed to be corrected with improved aviation services and easier visa norms. He added that language was a barrier for Japanese tourists as in India there are not many guides speaking Japanese. Hence there was need to have guides speaking Japanese top attract tourists from Japan.

Kuniharu Ebina, Senior Vice Commissioner, Japan Tourism Agency, said that the Japan National Tourism Organization will open an office in Delhi by the end of fiscal 2016 to promote the attractions of Japan, so that more Indians will be interested in traveling to Japan. Besides, at the Indo-Japan Tourism Council, a bilateral meeting to be held tomorrow, the stakeholders plan to discuss current undertakings and issues of inbound and outbound tourism of both countries, and measures to improve and expand tourism exchanges. The expansion of bidirectional tourism exchanges cannot be achieved without the understanding and assistance of the tourism industry, he added.

Dr. Jyotsna Suri, Immediate Past President-FICCI, Chairperson -FICCI Tourism Committee & CMD - The Lalit Suri Hospitality Group, said that India has a very high potential to be one of the favored destinations amongst the Japanese tourists, given the large number of destinations important from Buddhist interest as well as the burgeoning number of business tourists coming to India. Japan is the 10th largest source market for India in terms of inbound tourist arrivals. There were about 2.07 lakh tourists from Japan who visited India in 2015. Welcoming the delegates who have come all the way from Japan to get a first-hand experience of the wonderful culture of India, Dr. Suri added that with the B2Bs and conference a growth agenda and road map would emerge to further the synergies between India and Japan through tourism

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Tata Renewable Energy signs PPA for 100 MW solar power project
Oct 25,2016

Tata Power Company announced that Tata Renewable Energy has signed a Power Purchase Agreement for a 100 MW solar power project at Anantpuram solar park in Andhra Pradesh with Solar Corporation of India (SECI). The Commercial Operations Date of the project as per the PPA is 16 October 2017. The project has been secured through bidding in the Open Category under the Jawaharlal Nehru National Solar Mission.

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Dr Reddys Lab gains in volatile trade after declaring Q2 result
Oct 25,2016

The announcement was made during market hours today, 25 October 2016. The results are as per International Financial Reporting Standards (IFRS).

Meanwhile, the S&P BSE Sensex was down 84.38 points or 0.3% at 28,094.70

On BSE, so far 64,000 shares were traded in the counter as against average daily volume of 35,035 shares in the past one quarter. The stock was volatile. The stock hit a high of Rs 3,163.90 and a low of Rs 2,842 so far during the day. The stock had hit a 52-week high of Rs 4,375.30 on 4 November 2015. The stock had hit a 52-week low of Rs 2,750 on 21 January 2016. The stock had underperformed the market over the past 30 days till 24 October 2016, falling 2.88% compared with 1.71% decline in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 7.02% as against Sensexs 0.72% rise.

The large-cap company has equity capital of Rs 85.39 crore. Face value per share is Rs 5.

Dr Reddys Laboratories (DRL)s consolidated earnings before interest, taxation, depreciation and amortization (EBITDA) declined 43.64% to Rs 642 crore in Q2 September 2016 over Q2 September 2015. EBITDA margin edged lower to 17.9% in Q2 September 2016, from 28.6% in Q2 September 2015.

Commenting on the companys results, co-chairman and CEO, G V Prasad said that DRLs major businesses have shown sequential improvement in Q2 September 2016 with revenues growing by 11% and EBITDA by 61%. Looking ahead, the company will continue to focus on launching new products in its generics business, improving productivity and strengthening its quality management systems, Prasad said.

Dr Reddys Laboratories is an integrated global pharmaceutical company. It offers a portfolio of products and services including active pharmaceutical ingredients (APIs), custom pharmaceutical services, generics, biosimilars and differentiated formulations.

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e-Postal Ballot System for Service Voters
Oct 25,2016

Decision:

The Government has issued Notification on 21st October, 2016 amending rule 23 of the Conduct of Elections Rules, 1961 enabling service voters, including armed forces personnel, to cast their vote in elections through e-postal ballot. Under this system a blank postal ballot paper would be transmitted to them electronically. This would cut short the delay experienced in the present system in two-way transmission of ballot paper by the postal services. The armed forces personnel serving in remote and border areas would be greatly benefitted since the present system of two-way transmission of ballot paper by the postal services has not been able to meet the expectations of the service voters.

Background:

The difficulties and hardships encountered by the service voters, especially by the armed forces personnel serving the border and remote areas of the country, have been receiving the attention of the Government in recent times. The issue was also agitated before the Honble Supreme Court, in the matter of Neela Gokhale vs. Union of India & Anr. (Writ Petition No. 1005 of 2013) pleading for creating effective mechanism for the Armed Forces Personnel (AFP) and their families to exercise their right to vote easily and effectively.

In the above backdrop, the Government approached the Election Commission with a view to mitigating the difficulties faced by service voters in the matter of exercising their franchise. The technical team of the Election Commission has developed a system whereby blank postal ballot could be electronically transmitted to the voter, namely, e-postal ballot system. Voters entitled to postal ballot such as service voters, can download the postal ballot and print the blank postal ballot. After marking his vote in the blank postal ballot, the same would be returned to the concerned Returning Officer by post as in the present system of postal ballot. The Election Commission proposed that the categories of voters mentioned at rule 18 of the Conduct of Election Rules, 1961 may be made eligible for e-postal ballot system. However, on a pilot basis, e-postal ballot system has been introduced by Notification dated 21st October, 2016 for service voters consisting of (a) armed police forces of the Union; (b) other forces subject to the provisions of the Army Act, 1950; (c) armed forces of a State serving outside that State; and (d) those employed under the Government of India in a post outside India.

Two-way electronic transmission has not been recommended by the Election Commission for security and secrecy reasons.

Major Impact:

One-way electronic transmission of blank postal ballot would considerably cut short the delay in receipt of the marked postal ballot by the Returning Officers on or before the date fixed for the counting of votes. Major beneficiaries would be the entire category of service voters as stated above, especially the armed forces personnel posted in border and remote areas of the country. With the issue of the aforesaid notification, a long-pending and near-unanimous demand of the service voters, including the armed forces personnel, has been fulfilled.

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Fourth Dimension Solutions to hold board meeting
Oct 25,2016

Fourth Dimension Solutions will hold a meeting of the Board of Directors of the Company on 22 October 2016.

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Indraprastha Medical Corporation to hold board meeting
Oct 25,2016

Indraprastha Medical Corporation will hold a meeting of the Board of Directors of the Company on 15 November 2016 to consider and approve the Unaudited Financial Results for the quarter and half year ended September 30, 2016.

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Vantage Knowledge Academy to hold board meeting
Oct 25,2016

Vantage Knowledge Academy will hold a meeting of the Board of Directors of the Company on 11 November 2016 to consider and approve the Un-audited Financial Results for the quarter ended and six months ended September 30, 2016.

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