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JSPL gains on boards nod for pref allotment to promoter
Mar 31,2017

The announcement was made after market hours yesterday, 30 March 2017.

Meanwhile, the S&P BSE Sensex was down 50.75 points or 0.17% at 29,596.67.

On the BSE, 2.37 lakh shares were traded on the counter so far as against the average daily volumes of 22.83 lakh shares in the past one quarter. The stock had hit a high of Rs 123.10 and a low of Rs 120.45 so far during the day. It had hit a 52-week high of Rs 131.80 on 17 March 2017 and a 52-week low of Rs 55.65 on 30 March 2016.

The large-cap company has equity capital of Rs 91.50 crore. Face value per share is Rs 1.

Jindal Steel & Power (JSPL) said its board at a meeting held yesterday, 30 March 2017, approved issue of 4.80 crore convertible warrants to Opelina Finance and Investments, a promoter group entity on preferential basis, subject to the approval of the shareholders of the company and other necessary regulatory approvals. Opelina Finance and Investments owned 9.82% stake in JSPL end December 2016.

The board also approved the issue of 14.20 lakh equity shares to Nalwa Steel & Power on preferential basis, subject to the approval of the shareholders of the company and other necessary regulatory approvals.

On consolidated basis, JSPL reported net loss of Rs 407.44 crore in Q3 December 2016 as against net loss of Rs 573.48 crore in Q3 December 2015. Net sales rose 28.1% to Rs 5296.80 crore in Q3 December 2016 over Q3 December 2015.

JSPL is one of Indias leading integrated steel manufacturers, significantly present in steel, power generation and Infrastructure segments and catering to a large part of Indias domestic energy and infrastructure requirement.

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India signs First Loan Agreement with NDB for US$ 350 million for Development and Up-gradation of Major District Roads Project in MP
Mar 31,2017

The Loan Agreement for New Development Bank (NDB) financing of US$ 350 Million for Development and Up-gradation of Major District Roads Project in Madhya Pradesh (MP) was signed between Government of India and the New Development Bank (NDB). This is the First Loan Agreement for NDB assisted project in India.

The Loan Agreement was signed by Mr. Raj Kumar, Joint Secretary, Department of Economic Affairs (DEA) on behalf of the Government of India and Mr. Xian Zhu, Vice President & Chief Operating Officer on behalf of the New Development Bank. The Project Agreement was signed by Mr. Pramod Agrawal, Principal Secretary, Public Works Department and Mr. Manish Rastogi, Managing Director, Madhya Pradesh Road Development Corporation (MPRDC), on behalf of Government of Madhya Pradesh.

The objective of the Project is upgradation of major district roads in the state of Madhya Pradesh to improve connectivity of the interior areas of the state with the national and state highway networks. The Project would include upgradation, rehabilitation or reconstruction of approx. 1,500 (One thousand Five Hundred Only) km of district roads to intermediate lane, all-weather standards, with road safety features and improved road asset maintenance & management. The project outcome is to improve transport connectivity to the interior regions and resultant boost to economic activity in the rural hinterland.

The project implementation is 5 years. Government of Madhya Pradesh and the MPRDC are the implementing agencies.

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Berger Paints in focus after commencing production at Assam plant
Mar 31,2017

Berger Paints India said it has commenced commercial production of its integrated paint and putty plant at Naltali, Nagaon, Assam on 30 March 2017. The plant has an annual capacity of 48,000 KL/MT per annum of water based paints, 24,000 KL of solvent based paints, 14,000 MT of Resin and 24,000 MT of wall putty. Thus, Berger Paints India has now commenced production at two of its plants in Assam - one for the Berger Division at Naltali and the other for the British Paints Division at Nalbari. The announcement was made after market hours yesterday, 30 March 2017.

NTPC said that consequent upon testing and commissioning, 260 megawatts (MW) capacity (4x65 MW) of Bhadla solar PV project at Bhadla Rajasthan, is declared on commercial operation on 25 March 2017. With this, the commercial capacity of NTPC and NTPC group has become 40,522 MW and 47,293 MW respectively. The announcement was made after market hours yesterday, 30 March 2017.

TCS said that the company has collaborated with SATS, Asias leading provider of airport ground handling and food solutions services, to develop a smart watch solution that is believed to be the worlds first mobile solution for airport Technical Ramp operations. The Technical Ramp Smart Watch solution is now supporting SATS operations at Singapores Changi Airport, a leading global hub of travel, technology adoption and efficiency. The announcement was made after market hours yesterday, 30 March 2017.

Jindal Steel & Power (JSPL) said its board at a meeting held yesterday, 30 March 2017, approved issue of 4.80 crore convertible warrants to Opelina Finance and Investment, a promoter group entity on preferential basis, subject to the approval of the shareholders of the company and other necessary regulatory approvals. The board also approved the issue of 14.20 lakh equity shares to Nalwa Steel & Power on preferential basis, subject to the approval of the shareholders of the company and other necessary regulatory approvals. The announcement was made after market hours yesterday, 30 March 2017.

State Bank of Travancore (SBT) said it has allotted Basel III compliant Additional Tier 1 Bonds aggregating to Rs 300 crore, for inclusion in Tier 1 Capital of the bank, on private placement basis with call option on 30 March 2022. The coupon rate is 9% per annum. The announcement was made after market hours yesterday, 30 March 2017.

Central Bank of India said that the capital raising committee of the board of directors of the bank at its meeting held on 30 March 2017, approved raising of equity capital by conversion of entire IPDI capital of Rs 583.00 crore held by Government of India (GoI), into equity shares to be issued and allotted to GoI on preferential basis, at such conversion price as may be determined as per SEBI ICDR Regulations subject to requisite approvals. The announcement was made after market hours yesterday, 30 March 2017.

Bharat Financial Inclusion said it has assigned a pool of receivables of an aggregate value of Rs 192.58 crore to one of the largest public sector banks on a direct assignment basis as per the guidelines prescribed by the Reserve Bank of India. This is the third direct assignment transaction during FY17. The aggregate value of the three direct assignment transactions is Rs 778.09 crore. The announcement was made after market hours yesterday, 30 March 2017.

Indiabulls Housing Finance said it has allotted its twelfth and thirteenth tranche of secured, redeemable, non-convertible debentures aggregating to Rs 485 crore. The announcement was made after market hours yesterday, 30 March 2017.

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Alankit enters into GST Suvidha Provider Agreement with GSTN
Mar 30,2017

Alankit has entered into a GST Suvidha Provider Agreement with Goods and Services Tax Network, in connection with the appointment of Alankit as a GST Suvidha Provider or GSP for providing GST services to the Taxpayers.

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Alankit enters into Business Correspondent Agreement with Bank of Baroda
Mar 30,2017

Alankit has entered into a Business Correspondent Agreement with the Bank of Baroda to act as a Service Provider and to provide services as may be required by the Bank.

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Carborundum Universal allots 21,000 equity shares
Mar 30,2017

Carborundum Universal has allotted 21,000 shares of Re.1/- each arising out of the exercise of stock options, granted to the option grantees of the Company under the Employees Stock Option Scheme 2007 on 30 March 2017. With this allotment, the number of equity shares outstanding is 188,658,090 and the paid-up equity share capital is Rs.188,658,090/-.

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Dilip Buildcon receives Completion Certificate for road project in Madhya Pradesh
Mar 30,2017

Dilip Buildcon has received the Completion Certificate as declaration of Commercial Operation Date (COD), 150 days prior to the Scheduled Completion Date for the Project of Rehabilitation and Up-grading the existing road at 1) Badnagar-Sundarabad Kharsodkalan-Unhel (Length 51.309 Km) from existing Km. 0+00 to Km.51+309 intermediate laning / two laning with paved/hard shoulder; and 2) Sundarabad-Runija-Khachrod & Runija-Satrunda Road (Length 43.792 Km) in intermediate /two laning with paved /hard shoulder on EPC basis in the State of Madhya Pradesh. The Project has been declared fit for entry into commercial operations w.e.f. 28 March, 2017 and the Company is entitled to a maximum amount of bonus of Rs.4.86 crore in lieu of earlier completion of the said Project.

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Remi Process Plant & Machinery gets revision in credit ratings
Mar 30,2017

Remi Process Plant & Machinery has received revision in credit ratings from CARE for bank facilities as under -

Long term (fund based) facilities (Rs 5 crore) - CARE BBB-; Negative
Short term (non-fund based) facilities (Rs 8 crore) - CARE A3

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Mukan and Sumitomo Corporation, Japan to form JV
Mar 30,2017

Mukand (Mukand) and Sumitomo Corporation, Japan (SC) have agreed to enter into a joint venture to engage in the business of rolling and finishing of alloy steel. A share subscription and shareholders agreement was signed between the parties in Tokyo, Japan on 30 March 2017. The joint venture will be undertaken through Mukand Alloy Steels (MASPL).

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Mukand and Sumitomo Corporation, Japan to form JV
Mar 30,2017

Mukand (Mukand) and Sumitomo Corporation, Japan (SC) have agreed to enter into a joint venture to engage in the business of rolling and finishing of alloy steel. A share subscription and shareholders agreement was signed between the parties in Tokyo, Japan on 30 March 2017. The joint venture will be undertaken through Mukand Alloy Steels (MASPL).

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United Bank of India issues AT-I bonds aggregating Rs 200 crore
Mar 30,2017

United Bank of India announced that on 29 March 2017 it has concluded the issuance of 2000 units of 12% unsecured, subordinated, fully paid up, non convertible, limited, Basel III Compliant, Perpetual Debt Instruments (Series II) in the nature of Debentures for inclusion in Additional Tier I capital of face value of Rs 10 lakh each of Rs 150 crore with green shoe option of Rs 50 crore aggregating up to Rs 200 crore on private placement basis.

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Memorandum on Pilot Project for Electronic Cargo Tracking System to facilitate transit cargo movement between India and Nepal to be signed
Mar 30,2017

A Memorandum of Intent (MOI) on India-Nepal Electronic Cargo Tracking System (ECTS) Pilot Run will soon be signed by the Governments of India and Nepal to facilitate movement of traffic-in-transit belonging to Nepal from the port of arrival in India to Nepal. The India-Nepal pilot aims to demonstrate the benefits, especially in terms of reduced costs, of the ECTS system.

The pilot project will be supported by the Asian Development Bank (ADB) under the South Asia Subregional Economic Cooperation (SASEC) Trade Facilitation Strategic Framework, and its success will serve as the basis for its use in other SASEC corridors as well as in inland movement of cargo.

Currently clearance is done through physical inspection and it is time-consuming as well as costly for business. The MOI will include use of Electronic Cargo Tracking System (ECTS) to follow the cargo (containers and full-body trucks) as it moves from port of arrival through India, to the Nepal border. ECTS will lead to reduced cost and time as it speeds up cargo clearance at border crossings.

Electronic Cargo Tracking System uses technology such as satellite positioning systems, cellular communications, radio frequency (RF) identification, web-based software and others, to ensure the security of cargo and avoid any interference in transit.

ECTS pilots have already been done along the Kolkata-Jaigaon-Phuentsholing route between India and Bhutan, and for inland transshipment in India.

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TVS Motor Company commences manufacture and sale of BS IV compliant vehicles
Mar 30,2017

TVS Motor Company announced that the Company is fully geared up to meet the new emission guidelines and had already commenced manufacture and sale of BS IV compliant vehicles to the dealers. The Company has advised its dealers to strictly comply with the order of the Honble Supreme Court and sell the BS III compliant stocks with them on or before 31 March 2017.

The Honourable Supreme Court has passed an order dated 29 March 2017 stating that only vehicles, which meet BS IV emission standards can be sold and registered with effect from 1 April 2017.

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Indo Count Industries gets ratings assigned for credit facilities
Mar 30,2017

Indo Count Industries announced that ICRA has assigned ratings for enhanced credit facilities of Rs 240 crore of the company as under -

Long term bank facilities - ICRA AA-/ Stable Outlook
Short term bank facilities - ICRA A1+

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Shriram Transport Finance Company allots NCDs aggregating Rs 380 crore
Mar 30,2017

Shriram Transport Finance Company announced that the Allotment Committee - NCDs of the Company in its meeting held on 30 March 2017, approved and allotted 3800 Secured Redeemable Rated Listed Non-Convertible Debenture of face value of Rs. 10,00,000/- (Rupees Ten Lakh only) each, aggregating to Rs. 380 crore on private placement basis.

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