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Zodiac-JRD-MKJ to hold board meeting
Oct 07,2016

Zodiac-JRD-MKJ will hold a meeting of the Board of Directors of the Company on 25 October 2016 to consider the Unaudited Financial Results for the half year ended September 30, 2016 .

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Richirich Inventures to hold board meeting
Oct 07,2016

Richirich Inventures will hold a meeting of the Board of Directors of the Company on 29 October 2016 Quarterly Results

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Carborundum Universal to hold board meeting
Oct 07,2016

Carborundum Universal will hold a meeting of the Board of Directors of the Company on 28 October 2016 to consider and approve the unaudited financial results of the Company for the half-year/quarter ended September 30, 2016.

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Kore Foods to hold board meeting
Oct 07,2016

Kore Foods will hold a meeting of the Board of Directors of the Company on 6 October 2016.

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Wendt India to hold board meeting
Oct 07,2016

Wendt India will hold a meeting of the Board of Directors of the Company on 24 October 2016 to consider and approve the Un-audited Financial Results of the Company for the 2nd quarter and half year ended September 30, 2016.

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Panasonic Carbon India Company to hold board meeting
Oct 07,2016

Panasonic Carbon India Company will hold a meeting of the Board of Directors of the Company on 18 October 2016 to consideration and approval of unaudited financial results of the Company for the quarter ended September 30, 2016.

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Stringent law on misleading celeb endorsements: Ram Vilas Paswan
Oct 07,2016

For stricter law on celebrities endorsing misleading advertisements, a proposal to ban is being considered by consumer affairs Ministry, said Ram Vilas Paswan minister for Consumer Affairs at an ASSOCHAM event.

The government will soon bring in stringent laws to curb misleading advertisements and adulteration to guard the consumers interest. New Consumer Protection bill will be passed in coming session of the parliament which will strengthen the Bureau of Indian Standards (BIS) and to check spurious products said Paswan at an ASSOCHAM National Summit & Awards on FMCG.

Paswan also expressed worry over cheap Chinese goods flooding the market and said measures would be taken to check their rampant flow in the country.

He further mentioned that BIS has taken various initiatives under Make in India for standard formulation which includes items which is substandard would be banned.

Chairing the ASSOCHAM meeting, the minister said BIS new Act is being amended comprehensively for the first ever after it being enacted in the year 1986. These amendments will empower the government to bring more products under mandatory certification and these products should have the ISI mark on it.

While addressing the meeting, Paswan said, n++Abroad, I have noticed even Indians do not wish to buy Made in India products. There is an opinion set in the minds that developing countries do not manufacture good quality products. To change this attitude, our industry should comply with quality standards, said Paswan.

Paswan further said that due to poor standards followed while making products; India is lagging behind in the international market despite availability of talented people and cheap labour.

He said, the new consumer protection bill will be passed in coming session of the parliament. He further said that the standing committee has already examined the provisions relating to punishment for endorsing misleading advertisements and those involved in adulteration.

n++Abroad and in the western world, people cannot imagine that there can be food adulteration. Here in India, we cannot imagine food without adulteration, Paswan said.

Industry should come forward and actively promote consumer awareness about food safety, Paswan said.

On the issue of safe drinking water, He said, nobody can drink tap water in Delhi. Delhis water is not safe for drinking, though there are quality standards in place.

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G M Breweries slumps after announcing Q2 results
Oct 07,2016

The result was announced after market hours yesterday, 6 October 2016.

Meanwhile, the S&P BSE Sensex was down 31.01 points or 0.11% at 28,075.20.

On BSE, so far 24,000 shares were traded in the counter as against average daily volume of 24,618 shares in the past one quarter. The stock hit a high of Rs 609 and a low of Rs 585 so far during the day. The stock had hit a 52-week low of Rs 359.28 on 16 October 2015. The stock had hit a record high of Rs 928.20 on 8 January 2016. The stock had outperformed the market over the past one month till 6 October 2016, advancing 13.12% compared with 3.01% fall in the Sensex. The scrip had, however, underperformed the market in past one quarter, gaining 2.79% as against Sensexs 3.46% rise.

The small-cap company has equity capital of Rs 14.62 crore. Face value per share is Rs 10.

G M Breweries bottom line growth in Q2 September 2016 was boosted by surge in non-operational income. Other income spurted 4100% to Rs 1.26 crore in Q2 September 2016 over Q2 September 2015.

G M Breweries is engaged in manufacturing and marketing of country liquor.

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Tata Motors gains after good JLR sales in September
Oct 07,2016

The announcement was made during trading hours today, 7 October 2016.

Meanwhile, the BSE Sensex was down 33.09 points, or 0.12%, to 28,073.12.

On BSE, so far 59,000 shares were traded in the counter, compared with average daily volume of 8.57 lakh shares in the past one quarter. The stock hit a high of Rs 558.35 and a low of Rs 552.85 so far during the day. The stock hit a 52-week high of Rs 598.60 on 7 September 2016. The stock hit a 52-week low of Rs 266 on 11 February 2016. The stock had underperformed the market over the past 30 days till 6 October 2016, falling 6.20% compared with 2.84% decline in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 18.50% as against Sensexs 3.61% rise.

The large-cap company has equity capital of Rs 577.44 crore. Face value per share is Rs 2.

Tata Motors said Septembers performance has been driven by strong sales of the Land Rover Discovery, Discovery Sport, the Range Rover Evoque and the Jaguar F-PACE, as well as solid sales in China. Jaguar Land Rover (JLR) delivered solid retail sales growth across all key regions year on year, with China up 50%, Europe up 32%, UK up 30%, North America up 23% and other overseas markets up 3%.

Jaguar retail sales rose 70% to 17,640 units in September 2016 over September 2015. Land Rover retail sales rose 17% to 43,407 units in September 2016 over September 2015.

Tata Motors consolidated net profit declined 57% to Rs 2260.40 crore on 10.1% rise in net sales to Rs 64940.12 crore in Q1 June 2016 over Q1 June 2015.

Tata Motors is a market leader in commercial vehicles in India. The companys British unit JLR sells premium luxury cars.

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Jaiprakash Power jumps after boards nod for sale of cement grinding unit
Oct 07,2016

The announcement was made after market hours yesterday, 6 October 2016.

Shares of Orient Cement were up 1.4% at Rs 224.95.

Meanwhile, the S&P BSE Sensex was down 45.99 points or 0.16% at 28,060.22.

On BSE, so far 4.35 lakh shares of Jaiprakash Power Ventures exchanged hands compared with average daily volume of 5.54 lakh shares in the past one quarter. The stock hit a high of Rs 4.90 and a low of Rs 4.70 so far during the day. The stock had hit a 52-week high of Rs 7.89 on 2 November 2015. The stock had hit a record low of Rs 3.65 on 2 June 2016. The stock had underperformed the market over the past one month till 6 October 2016, sliding 6.94% compared with 3.01% fall in the Sensex. The scrip had also underperformed the market in past one quarter, declining 19.15% as against Sensexs 3.46% rise.

The small-cap company has equity capital of Rs 2938 crore. Face value per share is Rs 10.

The 2 million tonne per annum (MTPA) unit clocked turnover of Rs 90.70 crore in financial year ended 31 March 2016 and contributed 2.33% to turnover of Jaiprakash Power Ventures. The definitive agreement is yet to be executed. The expected date of completion of sale is around 6 months.

Jaiprakash Power Ventures reported net loss of Rs 196.16 crore in Q1 June 2016 compared with net profit of Rs 66.96 crore in Q1 June 2015. Net sales declined 37.8% to Rs 750.41 crore in Q1 June 2016 over Q1 June 2015.

Jaiprakash Power Ventures is a power company and a part of Infrastructure conglomerate - Jaypee Group. The company plans, develops, implements and operates power projects in India.

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250 markets Connected to e-NAM Platform : Shri Radha Mohan Singh
Oct 07,2016

Union Minister of Agriculture & Farmers Welfare, Radha Mohan Singh announced successful completion of e-NAM first phase and launched e-NAM Mobile App.

Radha Mohan Singh announced that most of the implementation issues faced in pilot phase have been addressed and e-NAM platform is connected to 250 markets across 10 States as of now (Andhra Pradesh (12), Chhattisgarh (05), Gujarat (40), Haryana (36), Himachal Pradesh (07), Jharkhand (08), Madhya Pradesh (20), Rajasthan (11), Telangana (44), Uttar Pradesh (67). Union Minister informed that so far, Detailed Project Reports (DPRs) for integrating 399 mandis with e-NAM has been received from 14 states and all of them have been approved.

Singh said that the active involvement of all stakeholders, and in particular mandi and marketing board officials; the NAM programme is a success and is going ahead of schedule. Minister is sure that e-NAM will significantly contribute towards enhancing the farmern++n++s income. Agriculture Minister informed that so far, 1,53,992.7 MT of agriculture produce worth Rs. 421 crore has been transacted on e-NAM platform and 1,60,229 Farmers, 46,688 Traders and 25,970 Commission Agents have been registered on the e-NAM platform.

Union Minister said that quality parameters for 69 agricultural and horticultural commodities including cereals, Pulses, Oil seeds, Spices, Fruits and Vegetables have been notified for trading on e-NAM platorm. States have been asked to set up the quality assaying facilities to ensure quality assessment of the farmern++n++s produce in a scientific and professional manner.

Singh said that provision of online payment of the sale proceeds to the farmers is made available in the e-NAM portal and States are requested to encourage direct transfer of sales proceeds to the farmern++n++s bank account. A total number of 585 markets are targeted to be integrated in first phase with e-NAM by March 2018, out of which 400 markets will be integrated by March 2017.

Agriculture Minister said that the issues in hardware and software during implementation of the project have been resolved and a new version of software has been released whereby trading is going on in a stable manner. He informed that the newer versions of software will be released in future as per actual requirements.

Radha Mohan Singh informed that the status of APMC Act reforms regarding e-NAM, carried out by various States/UTs is as under:

n++n++ 17 States and 1 UT have fully / partially modified their APMC Acts. Their names are : Andhra Pradesh, Gurajat, Himachal Pradesh, Karnataka, Rajasthan, Goa, Madhya Pradesh, Telangana, Chhattisgarh, Mizoram, Punjab, Maharashtra, Uttar Pradesh, Uttarakhand, Jharkhand, Nagaland, Haryana and Chandigarh (UT).

n++n++ 03 States and 1 UT have APMC Act and they have consented to bring changes in the act which is under process. Their names are: Tamil Nadu, Odisha, Assam and Puducherry.

n++n++ 06 States have APMC Act but no change has been made as yet. Their names are: Arunachal Pradesh, Tripura, Meghalaya, West Bengal, Jammu & Kashmir and Delhi. Out of them, West Bengal has demanded the e-NAM software for online trading.

n++n++ 01 state Sikkim does have APMC Act but is not implemented.

n++n++ 03 States and 04 UTs do not have any APMC Act. Their names are: Bihar, Kerala, Manipur, Andman & Nicobar Islands, Lakshwadeep Islands, Dadar & Nagar Haveli and Daman & Diu. These states have been requested to frame Act/Regulations to enable trading through e-NAM. A meeting with Bihar and Kerala has been scheduled on 14/10/2016 in this regard.

Singh appealed to those states whose APMC Act require complete or partial changes, to join the scheme by reforming their Acts on priority. Union Minister also appealed to those states where APMC Act does not exist, to join the e-NAM scheme by framing necessary act/regulation so that farmers could benefit by way of enhanced income.

Agriculture Minister said that e-NAM will bring forth more profit to farmers, availability of trade at lesser cost to the buyers and development of permanent mandis. It will enable the farmers to have access to the National Market having wide choice.

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Fiem Industries gains after signing pact with Japanese firms
Oct 07,2016

The announcement was made after market hours yesterday, 6 October 2016.

Meanwhile, the BSE Sensex was up 2.26points, or 0.01%, to 28,108.47.

On BSE, so far 1,128 shares were traded in the counter, compared with average daily volume of 7,051 shares in the past one quarter. The stock hit a high of Rs 1,257 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 1,223.85 so far during the day. The stock hit a 52-week low of Rs 533.50 on 8 October 2015. The stock had outperformed the market over the past 30 days till 6 October 2016, rising 12.48% compared with 2.84% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 21.47% as against Sensexs 3.61% rise.

The small-cap company has equity capital of Rs 13.16 crore. Face value per share is Rs 10.

Fiem Industries announced that it has signed a technology license and assistance agreement (TAA) with Aisan Industry Co., Ltd., Japan and Toyota Tsusho Corporation, Japan for manufacturing of Canister. Fiem Industries see this as a big opportunity of diversification into new product line. The company aims to supply the Canister to all its existing original equipment manufacturers (OEM) as well as target new customers. Canister is an emission control system product which will have huge market in India due to implementation of stricter emission norms for two-wheelers and three-wheelers as it will become mandatory from 1 April 2017. The Canister will be manufactured by Fiem Industries with the technical support of Aisan Industry Co., Ltd for two-wheelers and three-wheelers in Indian market.

Fiem Industries net profit rose 20.4% to Rs 11.46 crore on 19.6% growth in net sales to Rs 241.53 crore in Q1 June 2016 over Q1 June 2015.

Fiem Industries is one of the leading manufacturers of automotive lighting & signaling equipment and rear view mirror.

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Bharti Airtel acquires 173.8 Mhz spectrum across 1800/2100/2300 MHz bands
Oct 07,2016

Bharti Airtel said that it has acquired 173.8 Mhz spectrum across 1800/2100/2300 MHz bands for a total consideration of Rs 14,244 crore in the latest spectrum auction conducted by the Department of Telecom, Government of India.

Airtel has further strengthened its pan-India spectrum portfolio and secured its spectrum requirements for the next 20 years. The Company now has 4G and 3G spectrum in all circles, giving it the widest mobile broadband footprint across the country. It already has 2G spectrum inall circles. Over the past six years, the Company has acquired spectrum worth appx. Rs 100,000 crore through auctions and trading.

Through strategic buying, in the latest auction, Airtel has built new 4G/3G capabilities in 7 circles. The Company has spent Rs. 10,340 crore towards enhancing data capacities in 15 circles. It has also spent Rs 321 crore towards completing some of the existing partial blocks in 4 circles, givingit a second Carrier for its future needs.

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Kotak Mahindra Bank drops after reducing base rate
Oct 07,2016

The announcement was made after market hours yesterday, 6 October 2016.

Meanwhile, the S&P BSE Sensex was up 42.38 points or 0.15% at 28,148.59.

On BSE, so far 614 shares were traded in the counter as against average daily volume of 1.58 lakh shares in the past one quarter. The stock hit a high of Rs 782.35 and a low of Rs 776.45 so far during the day. The stock had hit a record high of Rs 825.60 on 9 September 2016. The stock had hit a 52-week low of Rs 586.50 on 29 February 2016. The stock had underperformed the market over the past one month till 6 October 2016, sliding 4.35% compared with 3.01% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 5.68% as against Sensexs 3.46% rise.

The large-cap bank has equity capital of Rs 918.65 crore. Face value per share is Rs 5.

Kotak Mahindra Bank said that all categories of loans (other than the exceptions permitted by RBI) will be priced with reference to the revised base rate.

Kotak Mahindra Banks net profit rose 291% to Rs 741.97 crore on 11.7% growth in total income to Rs 5120.03 crore in Q1 June 2016 over Q1 June 2015.

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

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Varanasi to get Heritage Walk around Kabir Chaura; 86 sites to be developed under HRIDAY
Oct 07,2016

Ministry of Urban Development has approved projects worth Rs.114 cr under Heritage Infrastructure Development and Augmentation Yojana (HRIDAY) for improving infrastructure facilities around core heritage sites in five cities of Varnasi, Amritsar, Dwaraka, Puri and Warangal.

Minister of Urban Development Shri M.Venkaiah Naidu has directed the officials of the Ministry and concerned State Governments to ensure implementation of approved projects by March next year.An inter-ministerial HRIDAY National Empowered Committee chaired by Shri Rajiv Gauba, Secretary(UD) yesterday cleared Detailed Project Reports of these five cities.

An investment of Rs.13.25 cr has been approved for Varanasi for Developing a Heritage Walk around Kabir Chaura and Piplani Katra at a cost of Rs.2.50 cr and developing required infrastructure at 86 historical sites scattered across the city. Kabir Chaura is known as the home of renowned musicians like Kishan Maharaj, Gop Krishan, Samta Prasad and Rajan and Sajan Mishra brothers. Access roads and gallis leading to 86 heritage sites in the city will be improved at a cost of Rs.10.75 cr. Fan++ade improvement, provision of on route amenities and signages, site development etc., will be undertaken. These heritage sites include temples, residences of famous personalities, kunds, parks and palaces.

For Amritsar, nine heritage infrastructure related projects have been approved for implementation with a total investment of Rs.57 cr. These include comprehensive road development and upgradation of 21 major roads leading to the Golden Temple to address congestion at a cost of Rs.21 cr, improving Maharaja Ranjit Singh Panorama with Rs.50 lakhs, revitalization of historical 40 Khoo (Wells) by providing necessary infrastructure at a cost of Rs.5.00 cr, improving connectivity, street and landscape at Gol Bagh with Rs.5.00 cr, providing a mobility corridor along outer and inner circular roads at a cost of Rs.5.00 cr, providing interpretative signages with censors with Rs.5.35 cr, refitting and upgradation of colonial era building i.e Deputy Commissioners Office that was damaged in a fire at a cost of Rs.2.00 cr, development of an Environmental Park at UBDC canal with Rs.1.00 cr and development of public plaza along southern edge of Rambagh Garden with Rs.1.00 cr.

In Puri, five projects with an investment of about Rs.17.00 cr will be undertaken for revitalization of different heritage zones. These include, landscape development of Shri Jagannath Ballabh Temple at a cost of about Rs.9.00 cr, retrofitting of building facades along Parikrama Marg of the temple with Rs.3.00 cr, improvements at Bada Odiya Matha and Ganga Mata Matha at a cost of Rs.2.00 cr, landscape development along the River Front of Athanarla with Rs.2.00 cr and revival of seven Jagagharas and Ponds at a cost of over Rs.1.00 cr. there are 60 Jagagharas and Akharas in Puri which are over 400 year old and were centres of learning music and martial arts.

The Fort of Warangal in Telangana State will be revived and developed with necessary interventions with Rs.15.30 cr under HRIDAY. Access routes, pathways and entry points will be developed at a cost of Rs.4.17 cr, revival of water bodies and setting up of a sewage treatment plant would be undertaken at a cost of Rs.10.00 cr, public amenities at North Gate and Srungarapu Bavi (well) with Rs.2.15 cr, landscaping along access routes with Rs 0.80 cr and illumination of North Gate, access routes and other areas at a cost of Rs.0.60 cr.

In Dwaraka, Gujarat, Dwarakadhish Temple Square will be developed at a cost of Rs.2.75 cr by providing pedestrian pathway, surface improvement of roads, adding green elements, street furniture, lighting, signages, dustbins, space for vendors etc. The main Processional Street (Darshan Path) will be improve with Rs.7.25 cr by providing parking spaces, pedestrian pathway, public amenities block, repairing o0f Iskcon gate, lighting and signages etc.

HRIDAY is a Central Scheme for which Central Assistance of Rs.500 cr has been provisioned till March,2017. Twelve cities have been included in this mission. Other cities being Amaravati (Andhra Pradesh), Badami (Karnataka), Kanchipuram and Vellankini (Tamil Naidu), Ajmer (Rajasthan), Mathura (UP) and Gaya (Bihar).

City Hriday Plans of all the 12 Mission cities have been approved and Detailed Project Reports based on these plans costing over Rs.350 cr have so far been sanctioned for implementation. Remaining will soon be cleared.

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