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Pennar Industries to hold board meeting
Mar 14,2017

Pennar Industries will hold a meeting of the Board of Directors of the Company on 20 March 2017.

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FCS Software Solutions to hold board meeting
Mar 14,2017

FCS Software Solutions will hold a meeting of the Board of Directors of the Company on 16 March 2017, to consider and approve the performance evaluation policy of the company.

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Monotype India to hold board meeting
Mar 14,2017

Monotype India will hold a meeting of the Board of Directors of the Company on 24 March 2017.

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NLC India to hold board meeting
Mar 14,2017

NLC India will hold a meeting of the Board of Directors of the Company on 20 March 2017, to consider declaration of interim dividend, if any, for the financial year 2016 -17.

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Upper Ganges Sugar & Industries fixes record date for scheme of arrangement
Mar 14,2017

Upper Ganges Sugar & Industries has proposed to fix 25 March 2017 as the Record Date (subject to confirmation of your good office) for the purpose of ascertaining the eligibility of the Equity (listed) and Preference (unlisted) shareholders, who shall be entitled to the respective shares issued by the transferee companies pursuant to the Composite Scheme of Arrangement between Upper Ganges Sugar & Industries, The Oudh Sugar Mills, Palash Securities, Allahabad Canning, Ganges Securities, Cinnatolliah Tea, Vaishali Sugar & Energy, Magadh Sugar & Energy and Avadh Sugar & Energy and their respective Shareholders and Creditors(the Scheme).

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Oudh Sugar Mills fixes record date for scheme of arrangement
Mar 14,2017

Oudh Sugar Mills has proposed to fix 25 March 2017 as the Record Date (subject to confirmation of your good office) for the purpose of ascertaining the eligibility of the Equity (listed) and Preference (unlisted) shareholders, who shall be entitled to the respective shares issued by the transferee companies pursuant to the Composite Scheme of Arrangement between Upper Ganges Sugar & Industries, The Oudh Sugar Mills, Palash Securities, Allahabad Canning, Ganges Securities, Cinnatolliah Tea, Vaishali Sugar & Energy, Magadh Sugar & Energy and Avadh Sugar & Energy and their respective Shareholders and Creditors(the Scheme).

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Footwear Design and Development Institute (FDDI) Bill, 2017 introduced
Mar 14,2017

Commerce & Industry Minister Smt. Nirmala Sitharaman introduced the Footwear Design and Development Institute (FDDI) Bill, 2017 in the Lok Sabha on 14th March, 2017 to declare the FDDI as an Institution of National Importance (INI).

The objective of the proposed legislation is to facilitate and promote teaching, training and research in all disciplines relating to design and development of Footwear and leather products and to enable FDDI to emerge as Centre of Excellence meeting international standards.

The Footwear Design & Development Institute was established in 1986 with the objective of providing trained human resource and assistance to the sector. FDDI has pan-India presence with campuses at Noida, Kolkata, Chennai, Fursatganj (UP), Rohtak (Haryana), Chhindwara (M.P) and Jodhpur (Rajasthan) equipped with state of art academic facilities and infrastructure. New campuses at Hyderabad, Patna, Ankleshwar (Gujarat), Banur(Punjab) and Guna (M.P) would also start functioning shortly.

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Board of Steel City Securities recommends dividend
Mar 14,2017

Steel City Securities announced that the Board of Directors of the Company at its meeting held on 10 March 2017, inter alia, have recommended the dividend of Rs 1 per equity Share (i.e. 10%) , subject to the approval of the shareholders.

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Rupee rises sharply
Mar 14,2017

Rupee closed sharply higher at 66.95/9550 per dollar on Tuesday (14 March 2017), versus its previous close of 66.9275/9300 per dollar.

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14.66 lakh tonnes of pulses procured towards building the buffer stock
Mar 14,2017

As per the Working Group Report on Foodgrains-Balancing Demand & Supply During 12th FYP of Niti Aayog the projected demand for pulses during 2016-17 is estimated to be around 24.61 million tonnes while the estimated production of pulses is 22.14 million tonnes, thereby implying higher demand than domestic production.

The Government has approved creation of buffer upto 20 lakh tonnes of pulses. As on 08 March 2017, around 14.66 lakh tonnes of pulses have been procured or contracted for imports towards building the buffer. The Government has contracted imports of 4.06 lakh tonnes of pulses towards building the buffer stock. The prices of pulses fluctuates daily as well as over season. While approving the bid for imports, Price Stabilization Fund Management Committee (PSFMC), inter alia, compares offer rate with prevailing domestic rate and bids are generally approved for import when the rate offered are lower than prevailing domestic prices of that pulses.

Government has approved engaging a professional Buffer Stock Management Agency (BSMA) for efficient management of the buffer stock including procurement, storage, maintenance and liquidation of the stock as per Government directives from time to time. The agency for designing and managing the bid process has been selected. Contract for appointment is being finalized.

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Venture Capital Fund Scheme for SC Entrepreneurs
Mar 14,2017

Under the Venture Capital Fund Scheme for SC Entrepreneurs, proposal of 64 SC entrepreneurs from 17 States have been sanctioned so far. The State-wise details of the entrepreneurs of the last three years is given below.

Government has launched Credit Enhancement Guarantee Scheme for Scheduled Castes with a view to support Banks and Financial Institutions who will be providing financial assistance to SC entrepreneurs and facilitate economic and inclusive development of SC entrepreneurs. Stand-up India Scheme to promote entrepreneurship among SC/ST and women. The SC/ST Hub to provide professional support to Scheduled Caste and Scheduled Tribe entrepreneurs to effectively participate in public procurement policy. Besides, the National Scheduled Castes Finance and Development Corporation (NSFDC) implements various credit based schemes for business ventures of SC beneficiaries.

Venture Capital Fund Scheme For SC Entrepreneurs

STATES / UTsNumber of Beneficiaries2014-152015-162016-17Punjab 111Gujarat120Maharashtra01210Delhi NCR041Telangana075Andhra Pradesh020Uttar Pradesh020Uttarakhand001Tamil Nadu031Karnataka011Pondicherry010West Bengal010Assam-North East010Haryana011Chattisgarh001Himachal Pradesh001Rajasthan001TOTAL23824

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Tata Teleservices (Maharashtra) announces total subscriber numbers
Mar 14,2017

Tata Teleservices (Maharashtra) reported total subscriber numbers at 90,29,394 as on 28 February 2017. These include 76,55,370 mobile subscribers, 5,50,622 FWT subscribers and 8,23,402 wireline subscribers.

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Marsons provides business update
Mar 14,2017

Marsons has secured an order from Government of Assam. Further, Marsons has bagged significant orders from various large scale EPC contracts for IPDS and DDUGJY projects in Bihar and Orissa.

The order book is in excess of Rs 150 crore and the Company plans to expedite execution and ramp up production at all of its facilities, both direct and franchise.

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The headline inflation outcome in the near term will depend on how food price dynamics evolve-RBI
Mar 14,2017

The impact of demonetisation on inflation in the near-term stemmed mainly from moderation in food inflation, especially perishables, as inflation excluding food and fuel remained broadly unaffected. With demand expected to recover from the latter part of Q4 of 2016-17, inflation risks to CPI excluding food and fuel and headline inflation are, therefore, tilted to the upside, , said RBI in its recent report.

The RBI further stated, with a weight of 46 per cent, the sharp fall in food inflation by about 240 bps during November 2016 - January 2017 pulled down the headline CPI inflation by around 100 bps to 3.2 per cent in January 2017, the lowest inflation reading since the publication of the all India CPI inflation series. Inflation excluding vegetables, which was at 5.0 per cent in October 2016, moderated marginally to 4.8 per cent in November 2016 and remained unchanged at that level in December 2016 before moderating to 4.5 per cent in January 2017. The moderate softening in CPI excluding vegetables suggests the larger role of vegetables sub-group in the observed sharp decline in inflation in recent months. Moreover, inflation in CPI excluding food (which is about 54 per cent of CPI basket) edged up from 4.6 in November to 4.7 per cent in December 2016 and further to 4.9 per cent in January 2017.

Going forward, unfavourable base effects in February could push inflation up. The base effect remains neutral in March 2017. There is a considerable uncertainty as to how vegetables prices will pan out over the coming months. Given that recent vegetables price declines have also been influenced by demonetisation induced distress sales in addition to seasonal factors, it is possible that with significant remonetisation having taken place, there could be some reversal in vegetables prices in March and beyond. Thus, with inflation excluding food and fuel remaining sticky, the headline inflation outcome in the near term will depend on how food price dynamics evolve.

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Rajesh Exports secures an order worth Rs 783 crore
Mar 14,2017

Rajesh Exports has secured an order worth Rs 783 crore for supply of designer range of gold and diamond studded jewellery and medallions from UAE. The said order is to be completed by July 2017. With this current order, order book at consolidated level stands at Rs 37241 crore which is to be executed by June 2017.

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