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MMTC tumbles after poor Q2 numbers
Dec 09,2016

The result was announced after market hours yesterday, 8 December 2016.

Meanwhile, the S&P BSE Sensex was up 95.80 points or 0.36% at 26,790.08.

On the BSE, 4.60 lakh shares were traded on the counter so far as against the average daily volumes of 3.43 lakh shares in the past one quarter. The stock had hit a high of Rs 53.10 and a low of Rs 51.05 so far during the day.

The stock had hit a 52-week high of Rs 56.80 yesterday, 8 December 2016 and a 52-week low of Rs 29.95 on 24 February 2016. It had outperformed the market over the past one month till 8 December 2016, advancing 14.32% compared with the Sensexs 3.25% fall. The scrip had also outperformed the market in the past one quarter, gaining 18.02% as against the Sensexs 8.09% fall.

The mid-cap company has equity capital of Rs 100 crore. Face value per share is Rs 1.

MMTC is a leading international trading company. Government of India (GoI) held 89.93% stake in MMTC (as per the shareholding pattern as on 30 September 2016).

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Rachana Capital & Securities appoints director
Dec 09,2016

Rachana Capital & Securities announced that Ranjitmal Nihalchand Rathod has been Appointed as the Additional Director of the Company with effect from 08 December 2016.

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Dolphin Offshore Enterprises (India) gets ratings assigned for term bank facilities
Dec 09,2016

Dolphin Offshore Enterprises (India) has received following credit rating from CRISIL on 23 November 2016 for term bank loan facilities (Rs 129 crore) -

Long term rating - CRISIL B/ Stable

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Time Technoplast advances on plans of raising funds
Dec 09,2016

The announcement was made after market hours yesterday, 8 December 2016.

Meanwhile, the BSE Sensex was up 71.31 points, or 0.27%, to 26,765.59.

On the BSE, 83,993 shares were traded in the counter so far as against an average daily volume of 1.66 lakh shares in the past one quarter. The stock had hit a high of Rs 103 and hit a low of Rs 100 so far during the day. The stock had hit a 52-week high of Rs 107.80 on 21 September 2016. The stock had hit a 52-week low of Rs 42 on 12 February 2016.

The stock had outperformed the market over the past 30 days till 8 December 2016, rising 4.81% compared with 3.25% fall in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 14.71% as against Sensexs 8.09% decline.

The small-cap polymer products maker has an equity capital of Rs 21.01 crore. Face value per share is Re 1.

Time Technoplast announced that the meeting of the board of directors of the company will be held on 13 December 2016 to consider alternate means of fund raising including but not limiting to preferential issue of securities.

The companys shareholders on the Annual General Meeting on 28 September 2016 has passed special resolution authorising board of directors to issue, offer and allot equity shares/fully convertible debentures/partly convertible debentures/non convertible debentures etc. to the qualified institutional buyers if required at an appropriate time.

On a consolidated basis, Time Technoplasts net profit rose 18.7% to Rs 35.61 crore on 6.9% increase in net sales to Rs 653.61 crore in Q2 September 2016 over Q2 September 2015.

Time Technoplast is a leading manufacturer of polymer products. The companys portfolio consists of technically driven innovative products catering to growing industry segments like, industrial packaging solutions, lifestyle products, automotive components, healthcare products, infrastructure/construction related products, material handling solutions & composite cylinders.

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Maruti Suzuki India signs MoU with Ola
Dec 09,2016

Maruti Suzuki India signed a MoU with Ola, the online cab aggregator, to train aspiring drivers-partners. Under the Maruti Ola Training Program, the Company targets to benefit 40000 individuals / Ola partners in safe driving, over a period of three years.

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MOIL announces appointment of director
Dec 09,2016

MOIL announced that the Company have received Government of India letter dated 29 November 2016 assigning additional charge of the post of Director (Finance), MOIL to D.S. Ahluwalia, Director (Finance), NMDC for a period of three months w.e.f. 01 December 2016, or till a regular incumbent joins the post, or until further orders, whichever is the earliest.

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Thomas Cook (India) honoured at The French Ambassadors Travel Awards
Dec 09,2016

Thomas Cook (India) has been conferred with the prestigious Diamond Award for highest number of visa issuances to France from India in 2016, at the French Ambassadors Travel Awards, established to honour outstanding performers in the travel and tourism industry in India.

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SECI to Launch 1000 MW Rooftop Solar PV Scheme for Government Sector
Dec 09,2016

As a step towards fulfilment of the Government of Indias target for installation of 40 GW rooftop solar power plants by the year 2022, Solar Energy Corporation of India (SECI) is launching today a tender of 1000 MW capacity for development of grid-connected rooftop solar capacity for Central Government Ministries/Departments. This would be the largest rooftop tender to be launched by SECI, and is expected to give a big boost to the hugely potent rooftop solar power generation segment.

The 1000 MW tender, one of the largest globally, is a move to rapidly escalate rooftop solar capacity in the country, and comes in quick succession to SECIs earlier tender of 500 MW capacity, targeting buildings in the residential/institutional and social sectors.

SECI is the leading PSU in the rooftop solar segment, and has already commissioned over 54 MW capacity of rooftop solar projects under multiple government schemes.

The upcoming 1000 MW tender is especially targeted at utilising the numerous buildings of the Central Government Ministries/Departments. The highlight of this tender is its innovative Achievement-Linked Incentives scheme wherein the incentives in terms of capital subsidy shall be provided on the basis of performance achieved by designated Ministries/departments against their committed targets in the given timespan.

In this scheme the Grid connected rooftop solar systems shall be installed with the financial assistance for MNRE in the form of Incentives. The power generated from the systems shall be used for meeting the captive requirement of the buildings and the surplus power, if any, shall be fed to the grid under the net-metering arrangement of the respective State.

Ministry of New & Renewable Energy (MNRE) has allocated 21 Ministries/ Departments to SECI interalia Ministry of Human Resource Development, Ministry of Finance, Ministry of Urban Development, Ministry of Parliamentary Affairs etc. The ministries have shown great enthusiasm and have assured their commitment with submission of n++Green Energy Commitment Certificatesn++ to MNRE for implementation of Grid Connected SPV power plants at the roof of their offices/other buildings etc., as part of their Clean energy initiatives and achieving National target of alleviating Global Warming. Various ministries/department have been sensitized by MNRE/SECI for implementation of Grid connected rooftop systems.

MNRE has also collated the demand of the various Ministries/departments for implementation of the systems. Based on the indicative list of sites provided by MNRE and various interested Ministries, SECI is carrying out a potential assessment which shall be provided to the solar PV developers (SPD).

The SPDs will be selected state-wise through national competitive bidding process and provision of one Rate / state shall be kept in the scheme. The 1000MW capacity will be distributed between CAPEX and RESCO modes of implementation in the ratio 30/70.

In this scheme, SECI in consultation with MNRE, is also introducing a Payment Security Mechanism which is apparently a first in the history of the rooftop programme, with the assurance of all rightful payments to the SPDs under RESCO model. SECI has also tied up with Financial institutes (FIs) Banks such as IREDA and SBI for disbursement of loans with Special Discount Packages to be offered by these institutions to the developers.

A toll-free number is being set up to ensure ease of communication of various stakeholders to SECI.

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Sheela Foam makes an impressive debut
Dec 09,2016

Meanwhile, the S&P BSE Sensex was up 64 points or 0.24% at 26,758.28.

On the BSE, 8.58 lakh shares were traded on the counter so far. The stock made its debut on the bourses at Rs 860, a premium of 17.8% over its initial public offer (IPO) price of Rs 730 per share. The stock had hit a high of Rs 1,032 and a low of Rs 860 so far during the day.

The IPO of Sheela Foam received strong response from investors. The IPO was subscribed 5.09 times. The price band of the offer was fixed at Rs 680 to Rs 730 per share.

Promoted by Sheela Gautam, Rahul Gautam and Polyflex Marketing, Sheela Foam (SFL) is engaged in manufacturing of home comfort products and technical foam products. SFL is one of the leading manufacturers of mattresses in India, marketed under its flagship brand, Sleepwell. In addition, it manufactures other foam-based home comfort products targeted primarily at Indian retail consumers, as well as technical grades of polyurethane (PU) foam for end use in a wide range of industries.

Sheela Foam reported consolidated net profit of Rs 65.95 crore on net sales of Rs 795.50 crore for the six months ended 30 September 2016.

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NLC India slips after reporting dismal Q2 figures
Dec 09,2016

The result was announced after market hours yesterday, 8 December 2016.

Meanwhile, the BSE Sensex was up 62.89 points, or 0.24%, to 26,757.17.

On the BSE, 9,199 shares were traded in the counter so far, compared with an average volume of 40,303 shares in the past one quarter. The stock had hit a high of Rs 79.80 and a low of Rs 78.40 so far during the day. The stock had hit a 52-week high of Rs 86.35 on 3 November 2016. The stock had hit a 52-week low of Rs 60.35 on 1 March 2016.

The stock had outperformed the market over the past 30 days till 8 December 2016, rising 0.25% compared with 3.25% fall in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 4.69% as against Sensexs 8.09% decline.

The large-cap company has an equity capital of Rs 1677.71 crore. Face value per share is Rs 10.

NLC India said that Q2 net profit was impacted due to discharge of Rs 52.66 crore towards one time voluntary retirement compensation. In the first half of the year net profit was impacted mainly due to surrender of power of 722.27 million units (MU) by distribution companies with an estimated financial impact of Rs 219.30 crore.

NLC India operates lignite mines, pithead thermal power stations and also has operations in renewable energy sector. As per the shareholding pattern as on 30 September 2016, the Government of India held 90% stake in the company.

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Government is keen on introducing GST from April 1 next year: Najeeb shah, Chairman CBEC
Dec 09,2016

Chairman of the Central Board of Excise and Customs Mr Najeeb Shah asked the industry to prepare itself to implement the Goods and Services Tax (GST) with effect April 1 at an ASSOCHAM event.

There will be GST readiness on part of the government and urged the industry to be ready. On the issue of dual control among the states and the Centre, he said n++we dont want to reduce dual (GST structure) into duel, chairman, Central Board of Excise and Customs (CBEC).

Lack of consensus on the issue of how the new tax, having central and state elements, would be collected and administered is holding up the supporting legislations on the Goods and Service Tax (GST), which the government is keen on introducing from April 1 next year.

He said the CBEC would also look into anti-profiteering mechanism. We are very clear that one assesse will be dealing with the administration of either state or the Centre. So the entire cross empowerment issue was, we empower each other to say that in case the state authorities look at SGST issue, they also look at CGST and vice versa, Shah said.

Mr. Shah said, there will be GST readiness on part of the government and urged the industry to be ready. On the issue of dual control among the states and the Centre, he said n++we dont want to reduce dual (GST structure) into duel.n++

The administration of state or centre will be dealing with one assesses only. So, the entire cross empowerment went was to ensure the suitability empower with each other. The both the administration centre and the state are committed too. Im sure that an issue will be resolved, added Mr. Shah.

Chairman CBEC also said that the multiplicity of GST rates is the necessity due to the economic and political compulsion. The Government unsure about exact compensation figures for states, may vary between Rs. 10,000 to 20,000 crore, said Mr. Shah.

The central government and state governments have to collect Rs 8 lakh plus crore of revenue which they are currently getting from indirect taxes other than customs. In the course of the GST council deliberations, growth rate of 14% for 5 years for each one of the states has been assumed. Its a huge assumption and the burden which central government has cast upon itself.

Addressing the conference, Chairman of CBEC said, Im sick and tired of hearing from wise people that we should have one rate of GSTn++. He further said, how can we have a one rate for edible, cars, atta, computers? We cannot have one rate but we can reach one rate 20 years down the line. So, we have to have multiple rates.

We have a wide range of commodities which is not taxed by the state administration, taxed by central excise and service tax regime and vice -versa.

We are doing the great experiments with matching of invoices, no other administration has attempted to this. The matching of invoices will hope and ensure that need for the agency to intervene their entire process will be reduced considerably, said Mr. Shah.

Need for bringing in public domain the compliance rating of each customer, added chairman, Central Board of Excise and Customs.

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Infibeam Incorporation enters into agreement with Sears Holding Management Corporation
Dec 09,2016

Infibeam Incorporation has executed an agreement with Sears Holding Management Corporation, an American Holding Company and the owner of retail store brand like Sears and Kmart etc, to provide online e-commerce platform services including advanced machine learning algorithms for enabling automated products classification at Sears Marketplace.

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Board of Time Technoplast to consider fund raising
Dec 09,2016

Time Technoplast announced that the meeting of the Board of Directors of the Company will be held on 13 December, 2016 inter-alia, to consider alternate means of fund raising including but not limiting to Preferential Issue of Securities in terms of Chapter VII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 as amended.

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Robotics may take over 10 million jobs in 5 yrs: ASSOCHAM
Dec 09,2016

Up to 10 million jobs might be taken over by artificial intelligence or robots during the course of next five years owing to extreme technological developments taking place globally, apex industry body ASSOCHAM said.

n++The Union Government should integrate robotics as key components of its flagship Make in India, programme for attracting global manufacturers to set up their highly efficient and automated supply chain facilities in the country,n++ suggested a recent ASSOCHAM study titled Digital India to Robotic India.

The current industrial revolution globally is unfolding disruptive technologies in the form of automation, robotics, 3D printing, artificial intelligence, genomics etc., and has started eating jobs in large number and in India alone million of jobs are at stake in the next five years.

The Chamber thus, in its study has underlined an urgent need for fostering a partnership among government, industry and academia to equip people with the right skill sets.

n++The proposed partnership will be able to identify emerging skill requirements and academia, especially from developed countries would need to assist in structuring courses and setting curricula,n++ said Mr D.S. Rawat, secretary general of ASSOCHAM.

n++The Centre should create a national policy perspective for automation consisting of top level experts, representative of business, government and labour as it will set down the roadmap and guidelines to make this transition as painless as possible while assuring the stakeholders that the benefits will be widely and equitably shared,n++ said Mr Rawat.

n++This will at least sensitize the nation on the inevitability of robotics led automation in industry, manufacture, transport and distribution,n++ he added.

It is also pertinent to note that robotics technology is a settled necessity for not only making Indian industry globally competitive and the country attractive for entrepreneurs but also to promote manufacturing sector in states like Uttar Pradesh (UP) to ensure faster economic development.

ASSOCHAM has thus suggested the Government of Uttar Pradesh to dovetail its skill development policy conducive to create an enabling environment for private sector, provide better infrastructure, impart skill training to industrial workforce and promote ease of doing business across the state.

With several global auto firms setting up base in India and many hoping to export vehicles from the country both vehicle assembly and obtaining components by several Indian and joint venture (JV) component firms would require extensive automation to be at par with international standards.

In the beginning, automation and robotics would be inevitable at least where high quality and low costs on the one hand and safety of human workers are prime concern.

n++We must expect automation becoming the imperative where raw materials like rare earths or dangerous ones like radioactive metals and corrosive chemicals are in use, thus it is clear that in the hazardous industries, robotics help workers in their safety, rather than replace them,n++ said Mr Rawat.

n++As the product shelf-life shrinks, automated production processes would become inevitable to catch up with the competition domestically and globally,n++ he added.

n++Besides, in transportation of goods rapid use of containerization, automation at ports and in-time manufacture would make transportation more and more automated requiring fewer and fewer human intervention,n++ further said Mr Rawat.

The coming of driverless cars and trains is one indication. The reduction in use of fuels through greater efficiency of fuel use (cars at 25-30 km/hr are already a reality as well as cars requiring least periodic attention) would need fewer petrol pumps and repair shops, for instance.

Allaying concerns about job displacement, the study said, n++The sector automation and use of robotics need not be at the expense of labour, coexistence is possible; industry leaders must view the introduction of robots as a competitive advantage.n++

What is needed is a joint effort by all to make automation and subsequent changes in job pattern and demand on intelligence, innovation and creative work as a great opportunity to open the floodgates of enabling every individual to build his/her future in a global prosperity environment.

n++India need not fear the socio-economic churn of the coming Robotics Age but be prepared for welcoming it,n++ the study said.

Economic policies should assume that there will be accelerating movement from low wage-low skill workforce to high skill-high wage one that will endow larger spending potential to most people and that in turn will demand more leisure, more travel, more creative life styles with their attendant changes in most products and services.

n++This will assume a high voltage dynamic of the economy powered by automation and robotics.n++

All developing countries including China are rapidly moving to use of industrial and other robots and automation of many production and distribution processes while the middle income country South Korea has built its industry led prosperity with highest density of industrial robots.

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AXISCADES Engineering Technologies complete acquisition of AXISCADES Aerospace and Technologies
Dec 09,2016

AXISCADES Engineering Technologies has completed the acquisition of AXISCADES Aerospace and Technologies (ACATL), a Technology Company focusing on Aerospace & Defense and Homeland Security areas. The acquisition was carried out through a Scheme of Amalgamation of the holding company of ACATL, i.e. Indian Aviation Training Institute (IAT), with ACETL.

Shareholders of IAT (holding company of ACATL) will receive ten shares in ACETL for every 45 shares held by them. ACATL is now a 100% subsidiary of ACETL. ACETL will issue 10.57 million new shares, therebyincreasing its shares outstanding to 37.76 million. The appointed date of Scheme of Amalgamation is 1st April 2016 and the Effective Date of the Scheme is 5th December 2016.

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