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Mindteck (India) fixes record date for dividend
Jun 14,2017

Mindteck (India) has fixed 04 August 2017 as record date for payment of dividend.

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Magma Fincorp plans scheme of merger with subsidiary
Jun 14,2017

Magma Fincorp has plans for a scheme of merger of Magma Advisory Services (Wholly Owned subsidiary of the Company) with the Company. The Board will consider the merger proposal on 20 June 2017.

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Dr Reddys Laboratories receives EIR for its API manufacturing plant at Miryalaguda
Jun 14,2017

Dr Reddys Laboratories has received an Establishment Inspection Report from the USFDA following closure of audit of its API manufacturing plant at Miryalaguda. The Company was issued a form 483 with three observations subsequent to the audit of the said unit in February 2017.

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Ratification of core ILO Conventions No. on 138 and 182 on Child Labour
Jun 14,2017

n++It is a historic moment for India as we are going to take another giant step to affirm our commitment for a child labour free India by ratifying the two Core Conventions of International Labour Organization (ILO) Conventions 138 regarding admission of age to employment and Convention 182 regarding worst forms of Child Labourn++, said the Minister of State for Labour and Employment (Independent Charge), Shri Bandaru Dattatreya.

The Labour and Employment Minister said that the Government of India has been working in a concerted manner to eliminate child labour from the country by following a multipronged strategy by including both stringent legislative and Project based approach.

A landmark step in the endeavour to have a child labour free society was the enactment of the Child labour (Prohibition and Prevention) amendment Act, 2016 in August 2016 that provides for complete prohibition on employment of children below 14 years in all occupations and processes and prohibits employment of adolescents (14-18 years) in hazardous occupations and processes. The age of admission to employment has been linked to the age of compulsory education under Right to Education Act (RTE), 2009.

Shri Bandaru Dattatreya informed that besides the amendment in the Act, Government of India has also notified the amendment in the Child Labour (Prohibition and Regulation) Central Rules after extensive consultation with the stakeholders. The Rules for the first time provide broad and specific framework for prevention, prohibition, rescue and rehabilitation of child and adolescent workers. To clarify on issues related with help in family and family enterprises and definition of family with respect to child, specific provisions have been incorporated in rules. Further, it also provides for safeguards of artists which have been permitted to work under the Act, in terms of hours of work and working conditions. The rules provide for specific provisions incorporating duties and responsibilities of enforcement agencies in order to ensure effective implementation and compliance of the provisions of the Act. In order to clarify the issues on Schedule of hazardous occupations and processes, the Schedule has been reviewed and the intent notification has been issued to include a comprehensive list of about 118 occupation and processes.

The Minister further informed that India was in the process of providing a digital platform PENCIL which has components ensuring enforcement of the Act, mechanism for redressal of complaints, child tracking system and a monitoring mechanism. This platform would integrate all the State Governments with the Central Government for effective coordination and convergence of various measures being taken for compliance of the Act.

Director General, ILO, Mr Guy Ryder said n++this is an historic step. From today, Convention 182 will cover more than 99 percent of the worlds children and the coverage of Convention 138 will leap from approximately 60 percent to almost 80 percent. I pay tribute to the Government, employers, trade unions and civil society of India and to all those who have assisted them in building an extraordinary alliance in India in the past decade- an alliance that made this latest great step possible. That strong alliance must now turn its attention to full implementation of these two Conventions, with no child left behind.n++

Shri Dattatreya mentioned that among the various measures taken recently to meet the objective of child labour free society, the prominent one was strengthening of the National Child Labour Project (NCLP), which is a rehabilitative scheme, providing bridge education and vocational training to adolescents. This scheme has been strengthened recently in terms of improving its quality and extending its coverage to all the districts of the country. For effective implementation of the project, the NCLP guidelines have been reviewed.

The Civil Society groups and the prominent child labour activists have widely appreciated Indias recent initiative for complete eradication of child labour.

With ratification of these two core ILO conventions, India has ratified 6 out of 8 core ILO conventions, with the other 4 core ILO conventions relating to abolition of forced labour, equal remuneration and no discrimination between men and women in employment and occupation, thus reaffirming its commitment for promoting and realising fundamental principles and right at work.

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Bharat Financial Inclusion plans to rollout 2 lakh Kirana Points
Jun 14,2017

Bharat Financial Inclusion has plans to rollout 2 lakh Kirana Points across its network in 16 states of India, in partnership with leading banks. With the introduction of Kirana Points, Bharat Financial Inclusions borrowers can now walk into the nearest kirana/ merchant store to make basic financial transactions like repaying loan, depositing money, withdrawing cash, making bill and other payments.

The tailor-made innovation for rural borrowers is based on extensive research among potential users, and is ready for ramp up across the country in view of its increasing acceptance among borrowers in Humnabad, Karnataka, where a Kirana Point pilot has been running inpartnership with a bank.

Kirana Points will also act as distribution and service centres for products being financed by Bharat Financial Inclusion Limited, helping the Company pursue growth opportunities benefiting all key stakeholders in a rapidly changing financial inclusion environment.

Bharat Financial Inclusion Limited has 5 lakh borrowers operating kirana/ small merchant stores. Of these, the Company would target to convert 2 lakh stores into Kirana Points.

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Dr Reddys gains after USFDA clearance for plant
Jun 14,2017

The announcement was made after market hours yesterday, 13 June 2017.

Meanwhile, the S&P BSE Sensex was up 33.94 points or 0.11% at 31,137.43.

On the BSE, 5,398 shares were traded on the counter so far as against the average daily volumes of 37,000 shares in the past two weeks. The stock had hit a high of Rs 2,681 and a low of Rs 2,661.15 so far during the day. The stock had hit a 52-week high of Rs 3,689 on 20 July 2016 and a 52-week low of Rs 2,382.05 on 29 May 2017.

Dr Reddys Laboratories (DRL) said that it has received Establishment Inspection Report (EIR) from the United States Food and Drug Administration on 13 June 2017 after closure of audit for the companys API manufacturing plant at Miryalaguda. This unit was inspected by the USFDA in February 2017 and DRL was issued form 483 with three observations.

Dr Reddys Laboratories consolidated net profit rose 175.4% to Rs 337.60 crore on 5.4% decline in net sales to Rs 3554.20 crore in Q4 March 2017 over Q4 March 2016.

Dr Reddys Laboratories is an integrated global pharmaceutical company.

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Dr Reddys in spotlight after receiving USFDA clearance for plant
Jun 14,2017

Dr Reddys Laboratories said that it has received Establishment Inspection Report (EIR) from the United States Food and Drug Administration on 13 June 2017 after closure of audit for the companys API manufacturing plant at Miryalaguda. This unit was inspected by the USFDA in February 2017 and Dr Reddys was issued form 483 with three observations. The announcement was made after market hours yesterday, 13 June 2017.

Mahindra & Mahindra said that its board of directors at a meeting held on 13 June 2017, approved sale of a part of its shareholding in Mahindra Logistics (MLL), a subsidiary of the company, as part of the proposed initial public offer (IPO) of MLL, subject to requisite approvals and market conditions. The size of the stake sale, price and other details of the IPO will be determined in due course by a Committee of Directors. The announcement was made after market hours yesterday, 13 June 2017.

Shriram Transport Finance Company said that the allotment committee of non-convertible debentures (NCDs) of the company approved and allotted 9,650 secured, redeemable, rated, listed, of face value of Rs 10 lakh each, aggregating to Rs 965 crore on private placement basis. The announcement was made after market hours yesterday, 13 June 2017.

Emkay Global Financial Services said that company and DBS Vickers Securities (Singapore) Pte Ltd, a wholly owned subsidiary of DBS Bank have signed an exclusive agreement for sharing of knowledge, co-branding of research and its distribution to the global clients of DBS Vickers. The alliance would facilitate DBS Vickers to enhance its service offering to its clients, while enabling Emkay to expand its reach. The announcement was made after market hours yesterday, 13 June 2017.

Kellton Tech Solutions said that BEC (Systems Integration), a leading provider of automated data capture and voice solutions for use within the supply chain, logistics and manufacturing industries, has formed a partnership with the company.

The partnership will help infuse SAPs latest capabilities into BECs solutions, enabling them to successfully implement S/4 HANA migration. Based on its eSmart Data Capture software suite, BECs innovative solutions leverage the power of ERP to deliver improved accuracy and productivity within its clients warehouse, distribution centre and manufacturing departments. The announcement was made after market hours yesterday, 13 June 2017.

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Shriram Transport Finance Company allots NCDs aggregating Rs 965 crore
Jun 13,2017

Shriram Transport Finance Company has allotted 9650 Secured Redeemable Rated Listed Non-Convertible Debenture of face value of Rs.10,00,000/- (Rupees Ten Lakh only) each, aggregating to Rs. 965 crore on private placement basis.

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Glance Finance announces resignation of company secretary
Jun 13,2017

Glance Finance has announced that Pragati Laad has resigned from the post of Company Secretary with effect from 30 May 2017.

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Filatex India receives revision in credit ratings
Jun 13,2017

Filatex India has received revision in credit ratings from CARE as under -

Long term bank facilities (Rs 482.66 crore) - CARE BBB+; Stable (Revised from CARE BBB)

Short term bank facilities (Rs 300 crore) - CARE A2 (Revised from A3+)

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Neuland Laboratories gets extension to hold AGM
Jun 13,2017

Neuland Laboratories has been granted approval for extension of time for holding its Annual General Meeting for the financial year 2016-17, till 31 December 2017, by the Registrar of Companies, Telangana & Andhra Pradesh.

The extension has been sought by the Company as it is in the process of the obtaining requisite approvals for the Scheme of Amalgamation and Arrangement between Neuland Laboratories (Transferee Company) and Neuland Health Sciences(First Transferor Company) and Neuland Pharma Research (Second Transferor Company) and their respective Shareholders and Creditors (Scheme), filed with the Honble National Company Law Tribunal and the timelines involved for the proposed merger.

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Noida Toll Bridge Company appoints director
Jun 13,2017

Noida Toll Bridge Company announced that the Board of Directors, by way of passing Resolution through Circulation on 12 June 2017, has approved appointment of Namita Pradhan as an Additional Non- Executive Director, on the Board of the Company.

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Akme Star Housing Finance receives sanction of cash credit facility
Jun 13,2017

Akme Star Housing Finance announced that it has received sanction letter dated 09 June 2017 from AU Small Finance Bank. The Bank has sanctioned Rs. 03.00 crore by way of Cash Credit Facility

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Unipro Technologies announces resignation of company secretary
Jun 13,2017

Unipro Technologies announced the resignation of Monika Bhutada , Company Secretary of the Company with immediate effect.

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Shri Suresh Prabhakar Prabhu, Minister of Railways, launches Mission Retro-Fitment to enhance the passenger experience.
Jun 13,2017

To enhance the passengers experience by upgrading existing fleet of coaches with better furnishing, aesthetics & amenities and better safety features with a view to provide a safe and comfortable travel, Minister of Railways Shri Suresh Prabhakar Prabhu has launched MISSION RETRO-FITMENT in Rail Bhavan today. Member Traffic, Railway Board, Mohd Jamshed, Member Rolling Stock, Railway Board, Shri Ravindra Gupta, Member Staff, Railway Board, Shri Pradeep Kumar were among those present on the occasion.

Speaking on the occasion, Minister of Railways Shri Suresh Prabhakar Prabhu said, Mission Retro-Fitment is an ambitious program to upgrade the level of furnishing & amenities in the coaches of Indian Railways. This is one of the largest  retro fitment project in the world as Indian Railways 40,000 coaches will be refurbished and retrofitted in the next five years. This Mission Retrofitment is an endeavour to provide better travel experience as the interiors of the coaches would be refurbished & the retrofitment of Center Buffer Coupler with balanced draft gear would add more to safety of the passengers. By 2020, Indian Railways would provide a new travel experience to the passenger over Indian Railways. This mission is challenging as it will be carried out without affecting the traffic operation. On the occasion, MR Shri Suresh Prabhakar Prabhu also released a booklet giving parameters & guidelines on this mega exercise of retrofitment and refurbishment.

GUIDELINES OF MISSION RETRO-FITMENT

Refurbishing : Upgradation of Coaches with Improved Interiors

●         It has been planned to induct about 40,000 coaches with upgraded interiors by 2022-23.

●       RSP sanction for refurbishing of 6,700 coaches are already available.

●        Approximate Cost : Rs.30 lacs per coach.

YearNo. of Coaches2017-181,0002018-193,0002019-205,0002020-215,5002021-225,5002022-235,000New manufacture with upgraded interiors  (18-19 to 22-23)15,000Total40,000

Strategy

Existing RSP Sanctions

●       700 Coaches : Allotted to ZRs/PUs (Western Central Railways -411, Integral Coach Factory (ICF)-189, Central Railway-75, Rail Coach Factory Kapurthala-25); these are under different stages of tendering and execution.

●       57 coaches have been refurbished by Coach Rehabilitation Workshop/ Bhopal.

●       Refurbished Coaches are running in Varanasi - New Delhi Mahamana Express since 22.01.2016.

●       6,000 Coaches :

●       Tender by ICF :3,000

●       Tender by COFMOW :2,000

●       Tender by WCR :1,000

●       Total 6,700 Coaches.

 Additional sanctions under RSP shall be sought in due course.

            Refurbishing - Salient Points

n++         World class ambience

Panels without visible screws, LED Lights,

Modular toilets with concealed plumbing, Branded fittings, Powered venetian blinds, Anti-Graffiti coating, etc.

n++         Enhanced Passenger Safety

Fire and Smoke Detection System (in newly manufactured AC coaches),

Double acting compartment door (in AC coaches), Rounded edges at most locations for injury-free, etc.

n++         Caring for the Environment

Bio toilets

n++         Use of better materials

Such as Polycarbonate ABS, Advanced Composites, Glass Fibre Reinforced Plastic, GFRE, Stainless Steel, etc.

 n++         Enhanced Passenger convenience

Passenger Address & Passenger Information System, Braille Signage, Ergonomic design, increased number of mobile / laptop charging points, etc.

Retro-fitment of Centre Buffer Coupler (CBC) with Balanced Draft Gear

●       Board has approved the Retro-fitment of about 32,000 Integral Coach Factory coaches (having a minimum residual life of 10 years), with CBC & Balanced Draft Gear.

●       Sanction under Rolling Stock Programme (RSP) for retrofitment in 16,000 coaches has been obtained vide Pink Book Item No. 1254/17-18.

●       Approximate Cost : Rs.28 lacs per coach.

●       Additional Sanctions under RSP shall be obtained in due course.

●       The work is targeted for completion by 2022-23.

YearNo. of Coaches2017-182,0002018-195,0002019-205,5002020-217,0002021-227,0002022-235,500Total32,000

Strategy

  In-House 

●       In Mid life Rehabilitation (MLR) and Periodic Overhaul (POH) Workshops.

●       24 coaches already retrofitted have been running in Train No.15120/19 Manduadih - Rameswaram Express since 23.04.2017.

●       Work likely to commence in a regular manner from October17 after CBC with Balanced Draft Gear is made available.

Through Contract :

●       In Rly. Premises : COFMOW has invited Tenders for 2,500 coaches that are under finalization, Tentative Commencement of Work from October17.

●       In Firms Premises : COFMOW has invited Tender