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Pokarna jumps on plans to expand production capacity
Jan 16,2017

The announcement was made after market hours on Friday, 13 January 2017.

Meanwhile, the S&P BSE Sensex was up 36.08 points or 0.13% at 27,274.14.

On the BSE, 9,532 shares were traded on the counter so far as against the average daily volumes of 4,507 shares in the past one quarter. The stock had hit a high of Rs 1,125 so far during the day, which is also its 52-week high. The stock hit a low of Rs 1,056.90 so far during the day.

The stock had hit a 52-week low of Rs 660 on 17 February 2016. The stock had outperformed the market over the past one month till 13 January 2017, advancing 13.57% compared with the Sensexs 2.02% rise. The scrip had also outperformed the market over the past one quarter, rising 37.18% as against the Sensexs 1.47% fall.

The small-cap company has equity capital of Rs 6.20 crore. Face value per share is Rs 10.

Pokarna said that its wholly owned subsidiary Pokarna Engineered Stone (PESL) plans to expand quartz surfaces production capacity by 130% with investment of Rs 325 crore in a greenfield facility. This investment is expected to be completed by June 2018.

PESL would finance this project through a combination of free cash flow/internal accruals Rs 75 crore and loan facilities Rs 250 crore. PESL is in receipt of financial sanction from its lead banker, for the term loan of Rs 250 crore, for funding the project.

Further, Pokarnas board has approved extending corporate guarantee for the loan facilities to be extended to PESL.

Pokarnas consolidated net profit rose 44.6% to Rs 18.87 crore on 2.1% fall in net sales to Rs 96.49 crore in Q2 September 2016 over Q2 September 2015.

Pokarna, headquartered in Secunderabad, processes granite at its two manufacturing facilities with raw material majorly sourced from its own quarries. The companys quartz operations are handled by its wholly-owned subsidiary Pokarna Engineered Stone.

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Sical Logistics gains after winning contract
Jan 16,2017

The announcement was made after market hours on Friday, 13 January 2017.

Meanwhile, the BSE Sensex was up 30.05 points, or 0.11%, to 27,268.11.

On the BSE, so far 21,000 shares were traded in the counter, compared with average daily volumes of 16,035 shares in the past one quarter. The stock had hit a high of Rs 234 and a low of Rs 222 so far during the day.

The stock hit a 52-week high of Rs 256 on 1 November 2016. The stock hit a 52-week low of Rs 119 on 12 February 2016. The stock had underperformed the market over the past 30 days till 13 January 2017, rising 2.48% compared with the 2.71% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 22.48% as against Sensexs 1.57% decline.

The small-cap company has equity capital of Rs 55.60 crore. Face value per share is Rs 10.

Sical Logistics said it received letter of award for excavation of overburden at Jhingurdah OCP of Northern Coal Fields at Madhya Pradesh. The contract has to be performed over a period of 4 years at a value of Rs 304.92 crore.

On a consolidated basis, net profit of Sical Logistics rose 113.94% to Rs 7.06 crore on 3.02% rise in net sales to Rs 198.12 crore in Q2 September 2016 over Q2 September 2015.

Sical Logistics is an integrated logistics solutions provider.

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Hind Rectifiers gains after board approves rights issue
Jan 16,2017

The announcement was made on Sunday, 15 January 2017.

Meanwhile, the BSE Sensex was down 8.62 points, or 0.03%, to 27,229.44.

On the BSE, so far 16 shares were traded in the counter, compared with average daily volumes of 7,856 shares in the past one quarter. The stock had hit a high of Rs 98.50 and a low of Rs 98.10 so far during the day.

The stock hit a 52-week high of Rs 113.60 on 1 November 2016. The stock hit a 52-week low of Rs 58.10 on 29 February 2016. The stock had outperformed the market over the past 30 days till 13 January 2017, rising 10.02% compared with the 2.71% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 9.58% as against Sensexs 1.57% decline.

The small-cap company has equity capital of Rs 3.01 crore. Face value per share is Rs 2.

Hind Rectifiers said that its board of directors approved raising upto Rs 12 crore by issuing equity shares to the existing shareholders of the company on a rights basis (right issue).

Further, board also constituted a committee of directors (right issue committee) and authorized such committee to determine record date, timing of the issue, do the required process and decide all the matters relating to the right issue in consultations to lead manager. Such details shall be informed and/or announced in the due course as and when decided or required, as per applicable statutory provisions, the company said in a statement.

Hind Rectifiers reported net loss of Rs 0.86 crore in Q2 September 2016, lower than net loss of Rs 2.05 crore in Q2 September 2015. Net sales rose 62% to Rs 28.57 crore in Q2 September 2016 over Q2 September 2015.

Hind Rectifiers is engaged in developing, designing, manufacturing and marketing power semiconductor, power electronic equipments and railway transportation equipments.

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Set-up quotas for women to enhance their decision making role: Anupriya Patel, MoS, Ministry of Health and Family
Jan 16,2017

Establish quotas to increase womens willingness to compete in competitive mixed-gender environments result in more qualified candidates for competitive positions, said Ms. Anupriya Patel, Minister of State, Ministry of Health and Family Welfare at an ASSOCHAM event.

n++Empowering women to participate fully in economic life across all sectors is essential to build stronger economies, achieve internationally agreed goals for development and sustainability. It will not only improve the quality of life of women, but for men, families, and communities as well. Empowerment of women has proven time and again across the world, to be the most efficient catalyst for rapid socio economic growth,n++ said Ms Patel.

Ms Patel further said, n++Modelling female leadership can go a long wayn++. The important factor is financial inclusion of women which can create gender equality by empowering them and giving them gender control over their financial lives. She said, 42% of women worldwide- approximately 1.1 billion- remain outside the formal financial system, according to the Global Findex database. Despite recent progress in financial inclusion rates in general, the gender gap has not narrowed.

While women represents a larger share of the self employed in developing countries and thus are less likely to secure bank credit according to the research by the World Bank.

n++When it comes to female labour force participation the situation is not very encouraging either. The South Asian Region has some of the lowest female labour force participation rates in the world,n++ added Ms Patel. It is therefore the need of the hour that we strive collectively for participation of women of south Asia region in all spheres of political, economic, social and cultural life as equal partners, added Ms. Patel.

She also said there is need for n++increasing funding and sustained advocacy for quality literacy programmes that empower women as literate women have a positive ripple effect on all development indicators.n++

Ms. Mridula Sinha Governor of Goa said the planned agenda of this forum is very critical as there is indeed an urgent need to locate strategies and develop systems that support womens entrepreneurship, education, empowerment, their financial inclusion, IT literacy and enhance their role in decision making. But we also should not ignore social empowerment of women as well because economic empowerment has to go hand with social change to make the vision of this forum a reality.

Ms. Preeti Saran, Secretary (East), Ministry of External Affairs said for South Asia, we have also established a Gender policy advocacy group (GPAG), that works along with UN-ESCAP and UN women, for economic empowerment of small scale women entrepreneurs. Work is also underway to reach goals of gender equality as per the Beijing Platform for Action. A SAARC Gender information base (SGIB), a comprehensive pool of data/ information on gender issues in different formats, including multimedia for quick access, has also been initiated.

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NBCC (India) moves higher after fixing record date for bonus shares
Jan 16,2017

The announcement was made after trading hours on Friday, 13 January 2017.

Meanwhile, the S&P BSE Sensex was down 48.61 points, or 0.18%, to 27,189.45

On the BSE, 39,000 shares were traded on the counter so far as against the average daily volumes of 2.31 lakh shares in the past one quarter. The stock had hit a high of Rs 278 and a low of Rs 274.35 so far during the day. The stock hit a record high of Rs 299.20 on 5 October 2016. The stock hit a 52-week low of Rs 162 on 12 February 2016. The stock had outperformed the market over the past 30 days till 13 January 2017, rising 22.48% compared with the 2.71% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 7.02% as against Sensexs 1.57% decline.

The large-cap company has equity capital of Rs 120 crore. Face value per share is Rs 2.

NBCC (India)s consolidated net profit rose 1.42% to Rs 69.11 crore on 15.75% increase in net sales to Rs 1224.41 crore in Q2 September 2016 over Q2 September 2015.

NBCC (India) is a blue-chip Government of India (GoI) Navratna Enterprise under the Ministry of Urban Development, in construction sector. The GoI held 90% stake in the firm (as per shareholding pattern as on 30 September 2016).

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Moodys and ICRA: Indian economy to remain strong in 2017, despite short-term impact of demonetization
Jan 16,2017

Moodys Investors Service and its Indian affiliate, ICRA Limited, say that India (rated Baa3 positive by Moodys) will remain one of the fastest growing major economies globally in 2017, although GDP growth will moderate in the first half of the year, as the economy adjusts after demonetization. Moodys also believes that the government will likely achieve its fiscal deficit target of 3.5% of GDP for the current fiscal year ending 31 March 2017.

ICRA expects the countrys growth of gross value added at basic prices to remain healthy in 2017, although such growth will ease somewhat to about 6.6% from around 7.0% in 2016, with a likely pick-up in H2 2017.

Even after the currency in circulation is replenished, we expect that Indias economic growth will stabilize with a lag, while remaining strong, says Aditi Nayar, an ICRA Principal Economist. The adjustment and recovery period could stretch to as much as 2-3 quarters for certain sectors.

ICRA says that the focus on digital transactions and the introduction of a goods and services tax (GST) will likely reduce the competitiveness of the unorganised sector. ICRA therefore anticipates a relatively healthier expansion of the organised sectors in 2017, at the cost of the unorganised sectors.

ICRA further points out that the low agricultural growth in H1 2016, as well as healthy reservoir levels on a seasonally adjusted basis, will support the pace of expansion of agricultural output in the first half of 2017. But agricultural growth in subsequent quarters will be influenced by various factors, the most important being the magnitude and dispersion of monsoon rainfall.

ICRA also says that the loss of incomes in some sectors and deferral of consumption are likely to weigh on capacity utilization, delaying the capacity expansion plans of the private sector. And, the extent of capital spending budgeted by the central and state governments for the fiscal year ending 31 March 2018 will affect the extent to which infrastructure spending can stimulate growth in a non-inflationary manner.

Nevertheless, economic and institutional reforms already introduced and potentially forthcoming, continue to offer a reasonable expectation that Indias growth will outperform that of its similarly rated peers over the medium term, and that the country will achieve further improvements in its macroeconomic and institutional profile, says William Foster, a Moodys Vice President and Senior Credit Officer.

Moodys and ICRA point out that after a temporary dampening effect on consumption and investment in the medium term, demonetization will likely strengthen Indias institutional framework n++ by reducing tax avoidance and corruption n++ and should support efficiency gains through a greater formalization of economic and financial activity.

Moodys also points out that in an environment of lackluster global trade, and with economies globally facing the increasing risk of protectionism, Indias very large domestic markets provide a relative competitive advantage when compared to smaller and more trade-reliant economies.

On the fiscal front, Moodys says that the government will likely remain committed to achieving its fiscal deficit target of 3.5% of GDP for the fiscal year ending 31 March 2017. However, room to reduce the deficit further to the target of 3.0% of GDP in the following year will be limited, due to the need for increased infrastructure spending and higher government salaries.

The government announced its intention to increase public capital expenditure in the last budget to help reduce supply-side bottlenecks and stimulate growth. Meanwhile, wages and salaries account for about 50% of total fiscal expenditure, with a large, one in 10-year increase in central government compensation just implemented. Moodys expects that the government will renew its commitment to increase capital spending and address the short-term disruptive impact of demonetization, during its budget speech on 1 February 2017.

Moodys explains that the implementation of the pending GST and other measures aimed at enhancing income declarations and tax collection will help widen Indias tax base and boost revenues. However, such a boost will only materialize over time, with the magnitude uncertain at this point.

As a result, the general government deficit will remain sizeable, and any reduction in Indias government debt burden will largely rely on robust nominal GDP growth. Moodys expects that Indias debt-to-GDP will hover around the current levels (at 68.6% in 2015) before falling gradually, as nominal GDP growth is sustained and revenue-broadening and expenditure efficiency-enhancing measures take effect.

On the issue of average CPI inflation, ICRA says that the rate will soften to 4.5% in 2017 from 4.9% in 2016, although the readings will continue to register month-to-month volatility. Key factors that will dominate CPI inflation in 2017 include monsoon dynamics, the impact of the GST on prices of various goods and services, commodity price movements, and the INR-USD exchange rate.

ICRA says that based on the minutes of the Monetary Policy Committees December 2016 meeting n++ which revealed a renewed emphasis of some members on achieving the mid-point of the inflation target range of 4% n++ the room for incremental repo rate cuts will prove limited, at 25 basis points over the next six months.

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Board of Network 18 Media & Investments approves scheme of amalgamation
Jan 16,2017

The Board of Directors of Network 18 Media & Investments at its meeting held on 14 January 2017, on the recommendation of the Audit Committee, approved the Scheme of Amalgamation of the following direct or indirect wholly owned subsidiaries of the Company, namely: 1) Colosceum Media, 2) Digital18 Media, 3) Capital18, 4) RVT Finhold, 5)RRK Finhold, 6) RRB Investments, 7) Setpro18 Distribution, 8) Reed Infomedia India, 9) Web18 Software Services, 10) Television Eighteen Media and Investments, 11) Television Eighteen Mauritius, 12) Web18 Holdings, 13) E-18 and 14) Network18 Holdings, into TV18 Broadcast with appointed date as 01 April 2016, under the applicable provisions of the Companies Act, 2013.

The said Scheme of Amalgamation is subject to receipt of further approvals of the Central Government and / or National Company Law Tribunal and / or Stock Exchanges and/or Securities and Exchange Board of India and/or Shareholders and/or Lenders and/or Creditorsand/or such other competent authority(ies), as may be required under the extant applicable provisions of the law.

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Board of TV18 Broadcast approves scheme of amalgamation
Jan 16,2017

The Board of Directors of TV18 Broadcast at its meeting held on 14 January 2017, on the recommendation of the Audit Committee, approved the Scheme of Amalgamation of the following direct or indirect whollyowned subsidiaries of the Company, namely: (1) Equator Trading Enterprises, (2) Panorama Television, (3) RVT Media and (4) ibn18 (Mauritius), into TV18 Broadcast with appointed date as 01 April 2016, under the applicable provisions of the Companies Act, 2013.

The said Scheme of Amalgamation is subject to receipt of further approvals of the Central Government and / or National Company Law Tribunal and / or Stock Exchanges and/or Securities and Exchange Board of India and/or Shareholders and/or Lenders and/or Creditorsand/or such other competent authority(ies), as may be required under the extant applicable provisions of the law.

The amalgamation of Transferor Companies with Transferee Company would, inter alia, have the following benefits:

- Rationalizing the group structure to ensure optimized legal entity structure more aligned with the business by reducing the number of legal entities and reorganizing the legal entities in the group structure so as to obtain significant cost savings and / or simplification benefits;

- Integrating news channels, i.e. Business news channels, English news channels, Hindi news channels and regional news channels, in the amalgamated entity which would result in maximizing overall shareholder value and bring synergies in operations.

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Magnum Venture appoints director
Jan 16,2017

Magnum Venture announced that the Board of Directors of the Company at its meeting held on 14 January 2017 has appointed Neha Gupta as an Additional Director of the company with effect from 14 January 2017.

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Sea TV Network appoints CFO
Jan 16,2017

Sea TV Network has appointed Ravi Shankar Shrivastava as the Chief Financial Officer (Key Managerial Personnel) for the Company in its Board Meeting held on 14 January 2017.

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Coal India turns volatile in early trade
Jan 16,2017

Meanwhile, the BSE Sensex was down 21.71 points, or 0.08%, to 27,216.35.

On the BSE, so far 71,000 shares were traded in the counter, compared with average daily volumes of 3.03 lakh shares in the past one quarter. Trading in the counter was volatile in early trade. The stock rose 1.65% at the days high of Rs 320 in early trade. The stock fell 1.25% at the days low of Rs 310.85 in early trade.

The stock hit a 52-week high of Rs 349.85 on 17 August 2016. The stock hit a 52-week low of Rs 272.05 on 12 April 2016. The stock had outperformed the market over the past 30 days till 13 January 2017, rising 8.46% compared with the 2.71% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 0.56% as against Sensexs 1.57% decline.

The large-cap company has equity capital of Rs 6316.36 crore. Face value per share is Rs 10.

The board of directors of Central Coalfields, a subsidiary of Coal India (CIL), approved revision of coking coal prices 14 January 2017. The increase in price is done by subsuming the washery recovery charge (WRC) which was being charged separately in the case of non-linked washery grade coking coal keeping in view the observation of ADRM. Due to this revision, Coal India (CIL) will earn approximately additional revenue of Rs 89.98 crore for the balance period of financial year 2016-2017, i.e. from 13 January 2017 to 31 March 2017 and additional revenue of Rs 222 crore for financial year 2017-2018 subject to achievement of production and dispatch target norms. The announcement was made on Saturday, 14 January 2017.

In a separate announcement after market hours on Friday, 13 January 2017, CIL said that the board of Bharat Coking Coal, a subsidiary of CIL, approved revision of coking coal prices from 13 January 2017, approximately 20% increase over the current price while the price of steel grade of coal and direct feed coal has been linked to price of washed coking coal which has been fixed on import parity price . The increase in price is done by subsuming the washery recovery charge (WRC) whIch was being charged separately keeping in view the observation of ADRM. Due to this revision, CIL will earn approximately additional revenue of Rs 702 crore for the balance period of financial year 2016-2017 i.e. from 13 January 2017 to 31 March 2017 and additional revenue of Rs 2986 crore (approximately) for financial year 2017-2018 on achieving the targeted production and despatch programme.

On a consolidated basis, Coal Indias net profit fell 77.37% to Rs 600.44 crore on 7.74% decline in net sales to Rs 15645.05 crore in Q2 September 2016 over Q2 September 2015.

State-run Coal India is Indias biggest coal miner. The Government of India currently holds 79.778% stake in Coal India (as per the shareholding pattern as on 31 December 2016).

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Jain Irrigation Systems proposes to provide guarantee to subsidiarys Green Bonds issue
Jan 16,2017

Jain Irrigation Systems announced that Jain International Trading B.V (JITBV), the Companys wholly owned direct subsidiary, proposes to issue up to USD 200 million of unsecured senior notes (which will also be certified Green bonds) with a USD 50 million over-allotment option, in relation to which the Company propose to provide a guarantee. The issuance of the Guarantee has been principally approved by the Board of Directors at their meeting held on 14 January 2017. However, the issuance of the Guarantee is subject to the successful issuance of the notes/bonds by JITBV, which will depend on the market conditions prevailing during the launch and agreement on terms between the investors, the Company and JITBV.

The Company estimate that the proceeds from this offering to be used as follows:

1. Approximately USD 200 million, to prepay, repay or refinance existing working capital and term loan facilities of the Company and subsidiaries and issue related / other expenses; and

2. balance proceeds to be used by the Company and subsidiaries for acquisitions, working capital spending, operating expenses, general corporate purpose or otherwise.

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Board of Tanla Solutions to consider Q3 and 9M results
Jan 16,2017

Tanla Solutions announced that a meeting of the Board of Directors of the Company will be held on 27 January 2017, inter alia, to consider and approve the Unaudited Financial Results of the Company for the quarter and nine months ended 31 December 2016.

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Board of Kirloskar Multimedia to consider December quarter results
Jan 16,2017

Kirloskar Multimedia announced that the Board of Directors of the Company will meet on 31 January 2017, inter alia, to consider the un-audited financial results for the quarter ended 31 December 2016.

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Reliance Defence & Engineering announces change in CEO
Jan 16,2017

Reliance Defence & Engineering announced that the Board of Directors of the Company has approved the appointment of Cmde. Kartik Subramaniam (Retd.) as the Chief Executive Officer (CEO) and Key Managerial Personnel (KMP) of the Company with effect from 01 April 2017.

Further, Vice Admiral H.S. Malhi (Retd.), CEO will be superannuating from the services of the Comp

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