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Just Dial slips after CFO resigns
Jul 04,2017

The announcement was made after market hours yesterday, 3 July 2017.

Meanwhile, the S&P BSE Sensex was up 16.68 points, or 0.05% to 31,238.30.

On the BSE, 81,000 shares were traded in the counter so far, compared with average daily volumes of 1.97 lakh shares in the past one quarter. The stock had hit a high of Rs 380 and a low of Rs 365 so far during the day. The stock hit a 52-week high of Rs 625.60 on 4 June 2016. The stock hit a 52-week low of Rs 318.20 on 27 December 2016.

The stock had underperformed the market over the past one month till 3 July 2017, falling 14.25% compared with 0.17% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 29.93% as against Sensexs 4.38% rise. The scrip had also underperformed the market in past one year, falling 38.28% as against Sensexs 14.45% rise.

The small-cap company has equity capital of Rs 69.55 crore. Face value per share is Rs 10.

Just Dial announced that Ramkumar Krishnamachari, chief financial officer and key managerial personnel of the company, submitted his resignation yesterday, 3 July 2017. The company said it accepted the resignation and decided to relieve Ramkumar Krishnamachari from his duties with effect from 30 September 2017.

Net profit of Just Dial declined 37.08% to Rs 25.35 crore on 5.90% rise in net sales to Rs 181.72 crore in Q4 March 2017 over Q4 March 2016.

Just Dial is a leading local search engine in India.

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Sacheta Metals bags multiple export orders
Jul 04,2017

Sacheta Metals has received an export orders worth Rs 67.06 crore in last 3.5 months.

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Honda Siel Power Products to pay dividend
Jul 04,2017

Honda Siel Power Products announced that dividend payout for equity shares of the company is 01 September 2017.

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Investments worth $291 bn needed to plug water demand-supply gap in India: Study
Jul 04,2017

The widening gap between demand for water and its supply is estimated to reach as high as about 50 per cent by 2030 and plugging this huge gap would need an additional investment of about $291 billion (bn), noted a just-concluded ASSOCHAM-PwC joint study.

To put things in perspective, the additional funding required only to plug the demand-supply gap in 2030 is higher than the Government of Indias 2016-17 budget i.e. Rs 20 lakh crore.

n++Amid sources that can be used to bridge water demand-supply gap, augmented and sustainable surface water sources would require funds to the tune of $215 bn followed by groundwater ($45 bn),n++ noted the ASSOCHAM-PwC joint study titled Water Management in India: Channelling the resources.

While employing technologies like wastewater treatment and reuse together with desalination would require funding of $27 bn and $4 bn respectively.

An additional $25 bn would be required as part of capital and O&M requirements for each market in four types of Indian cities - IA, IB, IC; class II, class III and class IV, the study noted.

n++Considering that the share of rural population to the total Indian population is 40 per cent, funding requirement of $25 bn will increase by 40 per cent to reach $35 bn by 2030 if the funding gap for the rural sector is also taken into consideration,n++ it said.

It is imperative to note that there is immense pressure on Indias natural resources as with 16 per cent of the worlds total population, its economic activities, ambitions and needs are dependent on 2.5 per cent of the worlds land and 4 per cent of the total usable water resources.

Thus creating a robust water infrastructure through efforts and funding in capital and O&M (operation and maintenance) expenditures is therefore need of the hour to plug demand-supply gap of 754 BCM (billion cubic metres) in Indias water sector by 2030, suggested the ASSOCHAM-PwC report.

In view of the factors that impact the sources of and demand for water, the study said that agricultural water demand-supply is projected to be about 510 BCM in 2030 i.e. 69 per cent of the total demand supply gap.

n++The projected 69 per cent is an optimistic number and is dependent on improvements in irrigation efficiency. However, if efficiency does not improve, the gap in the irrigation sector alone would be about 80 per cent of 754 BCM, i.e. about 570 BCM in 2030,n++ added the report.

Highlighting the extent of water use efficiency in the industrial sector, it said that industries would need to withdraw about three times more water (about 57 BCM) than they would actually consume (about 18 BCM) in 2030.

n++The power, paper, steel, aluminium, cement and fertiliser industries alone would withdraw five times more water than they would actually consume.n++

The ASSOCHAM-PwC study also said that projected municipal and domestic water demand is estimated to double to 108 BCM (seven per cent of total demand) by 2030. n++This translates into a deficit of approximately 50 BCM between supply and demand of water in the domestic sector.n++

It further said that this gap takes into account the fact that most of the prominent urban centres import water from sources that are 200-500 kilometres (km) away, the gap is therefore with respect to not only the volume of water available but also, if business as usual continues, the distance (and therefore the cost, time, and effort) involved in bringing water to urban areas.

n++Stepping up of existing service provisioning including infrastructural up-gradation will be necessary to meet the qualitative and quantitative aspects of the demand,n++ said Mr Ranen Banerjee, Partner and Leader - Public Sector and Governance, PwC India while addressing an ASSOCHAM national conference - Water Management: Technology, innovation & sustainability.

n++This would need additional sources of investments including technological innovations,n++ he said.

n++For this, commercial financing is a significant source,n++ he added.

n++Water sector will therefore need to enhance the creditworthiness for the players to harness its full potential,n++ further said Mr Banerjee.

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GTPL Hathway sees muted debut
Jul 04,2017

The stock debuted on a flat note at Rs 170 compared with the initial public offer (IPO) price. So far the stock hit a high of Rs 174.50 and low of Rs 162.25. On BSE, so far 13.33 lakh shares were traded on the counter.

The IPO of GTPL Hathway received bids for 3.09 crore shares, as per NSE data. The IPO was subscribed 1.53 times. The IPO opened for bidding on 21 June 2017 and closed on 23 June 2017.

Category wise, the qualified institutional buyers (QIBs) category was subscribed 1.48 times. The non institutional investors (NIIs) category was subscribed 2.85 times. The retail individual investors (RIIs) category was subscribed 0.99 times.

From the proceeds of the IPO, the company plans to spend Rs 229 crore for repayment of certain borrowing, and rest for general corporate purpose.

On a consolidated basis, the companys net sales for nine months ended December 2016 stood at Rs 651.93 crore. The net profit stood at Rs 21.40 crore.

GTPL Hathway is a leading regional multi system operator (MSO) in India, offers cable television and broadband services.

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Continental Securities to hold board meeting
Jul 04,2017

Continental Securities will hold a meeting of the Board of Directors of the Company on 4 July 2017.

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Looks Health Services to hold board meeting
Jul 04,2017

Looks Health Services will hold a meeting of the Board of Directors of the Company on 4 July 2017 To Appoint Ms. Quincy Sanadhya as an Independent Director of the Company

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Yes Bank to hold board meeting
Jul 04,2017

Yes Bank will hold a meeting of the Board of Directors of the Company on 26 July 2017 Quarterly Results, Stock Split

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ADB and India Sign $220 Million Loan Agreement for Improving Road Connectivity and Transport Efficiency on State Highways of Rajasthan
Jul 04,2017

The Asian Development Bank (ADB) and the Government of India signed a $220 million loan for improving connectivity as well as transport efficiency and safety on State Highways of Rajasthan.

The loan is the first tranche of the $500 million Rajasthan State Highways Investment Program, approved by ADB Board in May this year, that will upgrade about 2,000 kilometers of state highways and major district roads to two-lane or intermediate-lane standards to meet road safety requirements.

Speaking on the occasion, Shri Raj Kumar, Joint Secretary (MI),DEA,M/o Finance said that the project will help improve State Highways and major district roads in Rajasthan. He further said that it will also enhance the capacity of the State public works department in the areas of road asset management, road safety and project management.

After signing the loan Agreement, Mr. Kenichi Yokoyama, Country Director of ADBs India Resident Mission said that one of the focus areas of the program is to attract private sector financing through government capacity building on public private partnership (PPP) development. Her said that ADB will finance part of the construction costs for the annuity-based PPP concessions and engineering procurement construction (EPC) contracts, enhance the stability of contract regime, and ensure good governance during project implementation.

The first tranche loan will improve about 1,000 kilometers of State Highways and major district roads. It will have a 25-year term, including a grace period of 8 years, and carry an annual interest rate determined in accordance with ADBs London interbank offered rate-based (LIBOR) lending facility. The total cost of the project is $1.415 billion, with the government contributing $465 million and $450 million coming from the private sector and other concessionaries.

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Three stocks decline ex-dividend
Jul 04,2017

Meanwhile, the S&P BSE Sensex was up 58.66 points or 0.19% at 31,280.28.

Sundaram Finance fell 2.11% to Rs 1,620 as the stock turned ex-dividend today, 4 July 2017, for final dividend of Rs 6.50 per share for the year ended 31 March 2017. Before turning ex-dividend, the stock offered a dividend yield of 0.39% based on the closing price of Rs 1,654.85 on BSE yesterday, 3 July 2017.

Essel Propack lost 2.01% to Rs 241.80 as the stock turned ex-dividend today, 4 July 2017, for final dividend of Rs 2.40 per share for the year ended 31 March 2017. Before turning ex-dividend, the stock offered a dividend yield of 0.97% based on the closing price of Rs 246.75 on BSE yesterday, 3 July 2017.

CCL Products (India) lost 1.52% to Rs 298 as the stock turned ex-dividend today, 4 July 2017, for dividend of Rs 2.50 per share for the year ended 31 March 2017. Before turning ex-dividend, the stock offered a dividend yield of 0.83% based on the closing price of Rs 302.60 on BSE yesterday, 3 July 2017.

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Indian Metals & Ferro Alloys to hold board meeting
Jul 04,2017

Indian Metals & Ferro Alloys will hold a meeting of the Board of Directors of the Company on 17 July 2017 to consider and take on record, inter-alia, the unaudited financial results of the Company for the quarter ended 30th June, 2017.

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Sun Pharma enters into strategic agreement with Samsung BioLogics
Jul 04,2017

Sun Pharmaceutical Industries and Samsung BioLogics announced a strategic long-term manufacturing agreement for Tildrakizumab. Theagreement was entered into by Sun Pharmas wholly-owned subsidiary and Samsung BioLogics.

According to the agreement, Sun Pharma has appointed Samsung BioLogics to manufacture Tildrakizumab, an investigational IL-23p19 inhibitor being evaluated for the treatment of moderate to severe plaque psoriasis. Filings for this novel investigational biologic has been accepted for review by the U.S. Food and Drug Administration (FDA) (May2017) and the European Medicines Agency (EMA) (March 2017). The agreement was signed at Samsung BioLogics headquarter in Incheon, South Korea. The approximate value of the contract will be US$ 55.5 million, other financial details of the agreement are confidential.

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Shares of GTPL Hathway get listed
Jul 04,2017

The equity shares of GTPL Hathway (Scrip Code: 540602) are listed effective 04 July 2017 and admitted to dealings on the Exchange in the list of B Group Securities.

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Glenmark Pharmaceuticals receives final approval for Maloff Protect (anti-malerial medication)
Jul 04,2017

Glenmark Pharmaceuticals Europe has been granted final approval by the MHRA (Medicines and Healthcare products Regulatory Agency) for Maloff Protect (250mg/100mg atovaquone/proguanil film-coated tablets), anti-malarial medication, as a pharmacy license in the United Kingdom.

Maloff Protect will be used in the prevention of malaria in adults travelling to areas where malaria is prevalent. Maloff Protect contains atovaquone and proguanil hydrochloride, and has been available only as a prescription medicine in the UK. Under this approval, patients will be able to purchase Maloff Protect without a prescription.

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ICICI Bank provides update on proposed IPO of ICICI Lombard GIC
Jul 04,2017

ICICI Bank announced the termination of the joint venture agreement with Fairfax Finanacial Holdings on 03 July 2017. This termination agreement relates to approval of sale of a part of ICICI Bank shareholding in ICICI Lombard General Insurance Company (the Company) in an initial public offering proposed to be undertaken by the Company. The Termination Agreement has customary provisions for protection of parties in the event of non-completion of the proposed initial public offering on or before a mutually agreed date.

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