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Indiabulls Housing Finance allots NCDs aggregating Rs 1000 cr
Apr 07,2017

Indiabulls Housing Finance allotted its 15th tranche of secured, redeemable, non-convertible debentures of face value of Rs 10 each aggregating Rs 1000 crore on private placement basis on 06 April 2017.

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Dynamatic Technologies spurts after signing agreement
Apr 07,2017

The announcement was made after market hours yesterday, 6 April 2017.

Meanwhile, the S&P BSE Sensex was down 112.71 points or 0.38% at 29,814.63. Meanwhile, the S&P BSE Mid-Cap index was down 8.52 points or 0.06% at 14,268.02.

On BSE, so far 67 shares were traded in the counter as against average daily volume of 301 shares in the past one quarter. The stock hit a high of Rs 2,988.80 and a low of Rs 2,950 so far during the day. The stock had hit a 52-week high of Rs 3,650 on 24 October 2016. The stock had hit a 52-week low of Rs 1,696 on 6 April 2016.

The small-cap company has equity capital of Rs 6.34 crore. Face value per share is Rs 10.

Dynamatic Technologies said that the company had yesterday, 6 April 2017, signed a cooperation agreement with Magal Security Systems (Magal-S3), an Israeli company. This new cooperation aims to answer the Indian increasing market demand for high-end security products and solutions for critical infrastructure, among other, to provide combined integrated border management solutions (CIBMS) aimed to address the challenges in securing our borders.

Magal S3 has unique experience in perimeter security technologies and complex technological security projects, among other, defending Israels borders, whilst Dynamatic Technologies has been a partner of Indian Defence and Security establishment for over 3 decades.

On consolidated basis, Dynamatic Technologies net profit fell 52.03% to Rs 1.18 crore on 3.59% decline in net sales to Rs 346.87 crore in Q3 December 2016 over Q3 December 2015.

Dynamatic Technologies designs and builds high precision systems and sub-systems for Aerospace, Automotive, Hydraulics, and Homeland Security & Defense.

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Max Ventures and Industries provides update on material subsidiary - Max Speciality Films
Apr 07,2017

Max Ventures and Industries announced that the Board of Directors of its material subsidiary Max Speciality Films has inducted Toppan Printing Co., Japan as the joint venture partner in Max Speciality Films in terms of the definitive agreement dated 10 February 2017. Max Ventures and Industries now holds 51% equity stake in Max Speciality Films and the balance 49% is held by Toppan through purchase of equity shares from Max Ventures and Industries and primary issuance by Max Speciality Films to Toppan.

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RIL in focus as Reliance Jio to withdraw Summer Surprise offer
Apr 07,2017

Reliance Industries (RIL) will be watched. The company said that the Telecom Regulatory Authority of India (TRAI) has advised Reliance Jio Infocomm (Jio) to withdraw the 3 months complementary benefits of Jio Summer Surprise. Jio accepted this decision. It is in the process of fully complying with the regulators advice, and will be withdrawing the 3 months complimentary benefits of Jio Summer Surprise as soon as operationally feasible, over the next few days.

However, all customers who have subscribed to Jio Summer Surprise offer prior to its discontinuation will remain eligible for the offer, RIL said. The announcement was made after market hours yesterday, 6 April 2017.

GE Power India said it was awarded a contract worth approximately Rs 237.60 crore (approximately $35.40 million) by GE Power AG to supply 1x150 megawatts (MW) CFB Boiler and Electrostatic Precipitator Components. The companys scope of work consists of majorly supply of CFB boiler components including steel structure, pressure parts, all auxiliaries, duct work, refractory, electrical & instrumentation etc. and electrostatic precipitator components including steel structure, ducting etc. The announcement was made after market hours yesterday, 6 April 2017.

Karur Vyasya Bank announced lending rates based on marginal cost of funds to be effective from 7 April 2017. The banks Marginal Cost of Funds based Lending Rate (MCLR) for overnight loans will be 9.10%, for one month will be 9.10% and for three months will be 9.10%. The MCLR on 6-month loans will be 9.30% and for one-year loans the rate would be 9.50%, the bank said. The announcement was made after market hours yesterday, 6 April 2017.

Gammon Infrastructure Projects, through amendment agreement, 2.43 crore equity shares, or 24% stake, in ICTPL from Noatum Ports, S. L., Spain for an aggregate consideration of Rs 15 crore. Upon acquisition, ICTPL has become subsidiary of Gammon Infrastructure Projects with increased shareholding from 50% to 74% in the paid up equity share capital of ICTPL. The announcement was made after market hours yesterday, 6 April 2017.

Dynamatic Technologies said that on 6 April 2017 a cooperation agreement was signed between Magal Security Systems (Magal-S3), an Israeli company and Dynamatic Technologies (DTL). With this arrangement Magal-S3 will cooperate with DTL to pursue integrated security projects in India. The announcement was made after market hours yesterday, 6 April 2017.

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Steady Reform Progress Fueling Indias Growth Pick Up n++ ADB
Apr 07,2017

Indias fast growth will resume with gross domestic product (GDP) expanding by 7.4% in fiscal year (FY) 2017 and 7.6% in FY2018 supported by reform measures, says a new Asian Development Bank (ADB) report.

In its new Asia Development Outlook (ADO) 2017 report, ADB notes that the deceleration to 7.1% registered last year was due in part to slower investment growth. Also contributing to the moderation was the impact of the governments demonetization of high-value currency notes, though this effect is seen as largely temporary. ADO is ADBs flagship annual economic publication.

n++An array of important reforms has propelled Indias economic success in recent years,n++ said Yasuyuki Sawada, ADBs Chief Economist. n++A continued commitment to reform n++ especially in the banking sector n++ will help India maintain its status as the worlds fastest growing major economy.n++

Indias growth in FY2016 was fueled by agriculture and government services. Industrial growth, however, slowed to 5.8% over the last 12 months from 8.2% in FY2015. Growth in services moderated to 7.9% due to slowdowns in finance and real estate. Net foreign direct investment (FDI) in the country remained strong at $36.7 billion in FY2016 following the governments efforts to simplify guidelines and allow FDI in key economic sectors.

Moving forward, the ADO expects growth to accelerate through increased consumption, as more new bank notes are put in circulation, and as planned salary and pension hike for state employees are implemented. The public sector will remain the main driver of investment as banks continue to wind down balance sheets constrained by high levels of stressed assets. Exports are forecast to grow by 6% in the coming year.

Inflation, meanwhile, is expected to accelerate to 5.2% in FY2017 and 5.4% in FY2018 as the global economy recovers and commodity prices rebound.

The assessment notes risks from higher oil prices as India imports nearly 80% of its fossil fuel needs. A rapid increase in the price of oil could undermine the countrys fiscal position, stoke inflation, and swell the current account deficit. The report estimates that a $1 increase in oil prices raises the import bill by nearly $2 billion. In FY2016, rising oil prices resulted in a 37.6% increase in Indias import bill. To mitigate Indias vulnerability to oil price swings, the government has proposed reducing dependence on imported oil by 10% over the next 5 years through more efficient domestic production and increased private investment into the sector.

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KDDL provides update on subsidiary - Ethos
Apr 06,2017

KDDL announced that its subsidiary, Ethos has entered into a strategic partnership with Namos Glashutte SA for exclusively retailing Namos Glashutte watches in India. In addition to this, Ethos has also entered into a strategic partnership with Oris SA for exclusively retailing Oris watches in India.

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Shreyas Intermediates appoints director
Apr 06,2017

Shreyas Intermediates has appointed Neelam Yashpal Arora as the Additional Director of the Company to hold the office of Non-Executive Independent Director w.e.f 6 April 2017 for a period of five years.

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Galaxy Entertainment Corporation undertakes new initiative in bakery business
Apr 06,2017

Galaxy Entertainment Corporation has entered into strategic arrangement to undertake the business of commissary operations and for supply of bakery food products at the retail outlets and Corporate Accounts of Birdys. The Company shall extend its operations to supply the bakery food items to Big Bazaar outlets in Mumbai. The new initiative is expected to generate revenue to the tune of Rs. 25 crore per annum.

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GE Power India wins contract worth Rs 237.6 crore
Apr 06,2017

GE Power India has been awarded a contract worth approximately Rs 237.6 crore (i.e. approximately US $ 35.4 million) by GE Power AG to supply 1 x 150 MW CFB Boiler and Electrostatic Precipitator Components.

The Companys scope of work consists of majorly supply of CFB Boiler Components including Steel Structure, Pressure Parts, all Auxiliaries, duct work, refractory, electrical & instrumentation etc. and Electrostatic Precipitator Components including steel structure, ducting etc.

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Ind-Swift Laboratories director resigns
Apr 06,2017

Ind-Swift Laboratories announced that Pradeep Kumar, Independent Director has resigned from the Board of Director of the Company effective from 06 April 2017.

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Central Bank of India gets revision in credit ratings
Apr 06,2017

Central Bank of India announced that CARE Ratings has revised its ratings on the Banks Bonds -

The revised ratings is as under -

Lower Tier II Bonds - CARE A+/Negative (Revised from CARE AA-/Negative)

Upper Tier II Bonds - CARE A/ Negative (Revised from CARE A+/ Negative)

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RBL Bank opens IFSC Banking Unit
Apr 06,2017

RBL Bank announced the opening of its IFSC Banking Unit (IBU) at the Gujarat International Finance Tec-City (GIFT City).

With this, RBL Bank has commenced offshore banking operations from India.

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Board of Alpine Housing Development Corporation appoints company secretary
Apr 06,2017

The Board of Directors of Alpine Housing Development Corporation has appointed Kurian Zacharias (M No. 35739) as Company Secretary and Compliance Officer of the Company in place of Binu Thomas. The appointment is effective from 20 March 2017.

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Outcome of board meeting of Premier Synthetics
Apr 06,2017

Premier Synthetics announced that the Board of Directors of the Company has transacted the following -

1.Approved to issue up-to 10,00,000 equity shares on Preferential Basis to Public and Directors at issue price determined under the applicable regulations and subject to approval of the stock exchange.

2. Approved the appointment of Anusha Maheshwary as an Additional (Independent) Director of the Company.

3. Approved the appointment of Sunny Sunil Singhi as an Additional (Non-executive) Director of the Company.

4. Approved to open Administrative cum Sales office at Surana House, Opp. Nar- Narayan Complex, Nr. Swastik Char Rasta, Navrangpura, Ahmedabad - 380009.

5. To call Board meeting on 15 April 2017 for calling Extra-ordinary General Meeting

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Tamil Nadu, MP, UP, AP, Chattisgarh lead in implementing urban poverty alleviation programmes
Apr 06,2017

Tamil Nadu, Madhya Pradesh, Uttar Pradesh, Andhra Pradesh and Chattisgarh are ahead of other States in addressing urban poverty during the last three years i.e 2014-17.

Tamil Nadu is in the forefront in assisting urban poor with subsidized loans for self-employment through setting up of individual and group micro enterprises and formation of Self-Help Groups under DeenDayalAntyodaya Yojana-NULM (DAY-NULM) and Uttar Pradesh led in skilling urban poor. Madhya Pradesh stood second in skill training and providing loans support.

Details of performance of leading States under different components of DAY-NULM are as below:

StateNo of urban poor given
skill trainingNo of beneficiaries
gven subsidized loansSelf-Help Groups
formedTamil Nadu

1,04,448

30.25824,245Madhya Pradesh1,17,13326,558  8,973Uttar Pradesh1,89,83114,13815,954Andhra Pradesh   45,23615,61712,278Chattisgarh   30,022  8,18514,393West Bengal   64,277  2,41810,871Karnataka   38,007  8,799  5,021Maharashtra   29,317  8,202  6,921Bihar   29,762     890  8,390Telangana   12,546  3,18210,097Gujarat   12,090  2,216  7,186

National Urban Livelihoods Mission (NULM) was launched in September,2016 with the objective of reducing the poverty and vulnerability of urban poor households by enabling them to access gainful self-employment and skilled wage employment opportunities for improvements in their livelihoods on a sustainable basis. NULM which was launched in 790 cities and towns in 2013 was subsequently extended to all the statutory 4,041 cities and towns in February, 2016.

During 2014-17, 8,07,187 urban poor were given skill training, 1,35,158 beneficiaries were given subsidized bank loans for setting up own enterprises and 1,62,285 Self-Help Groups have been formed for taking up income augmenting activities with the support of bank loans.

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