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Gujarat Narmada Valley Fertilizers & Chemicals to announce Q3 and 9M results
Jan 04,2017

Gujarat Narmada Valley Fertilizers & Chemicals announced that the meeting of the Board of Directors of the Company will be held on 23 January 2017, inter alia, to approve the Unaudited Financial Results for the Third Quarter / Nine Months ended 31 December 2016.

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Inditrade Capital provides update on subsidiary
Jan 04,2017

Inditrade Capital announced that pursuant to approval of the Registrar of Companies, the name of step down subsidiary Company has been changed from Edel Commodities Trading to Inditrade Commodities Trading with effect from 03 January 2017.

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Helpline for Handloom Weavers BunkarMitra starts functioning
Jan 04,2017

n++BunkarMitran++, the Government of Indias Helpline for Handloom Weavers, went live today. The helpline was launched by the Union Textiles Minister Smt. Smriti Zubin Irani.

Interacting with an official of the call centrehousing the helpline agents, the Minister said that the helpline is a great mix of technology, youth and tradition. She told the officials of the Ministry to monitor issues on which maximum complaints are received, so that corrective actions can be taken accordingly.

The helpline provides a single point of contact to handloom weavers across the country for addressing queries and providing guidance. This helpline can be accessed by dialing the toll free number 1800-208-9988. Weavers can call from anywhere in India, from any number. The service is available from 10.00 A.M to 06.00 P.M, on all 7 days of the week, in seven languages: Hindi, English, Tamil, Telugu, Bengali, Kannada and Assamese.

The following services are available through this helpline:

n++Assistance on technical issues.

n++Guidance for:

n++Raw material supply.

n++Availing credit facility.

n++Quality control.

n++Access to marketing linkages.

n++Information about various schemes and procedure to avail benefits.

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BGR Energy gains after securing new orders
Jan 04,2017

The announcement was made during market hours today, 4 January 2017.

Meanwhile, the S&P BSE Sensex was down 5.21 points or 0.02% at 26,648.45.

On the BSE, 43,000 shares were traded on the counter so far as against the average daily volumes of 40,188 shares in the past one quarter. The stock had hit a high of Rs 121.55 and a low of Rs 117.75 so far during the day.

The stock had hit a 52-week high of Rs 138.80 on 6 January 2016 and a 52-week low of Rs 89.40 on 12 February 2016. It had outperformed the market over the past one month till 3 January 2017, advancing 4.66% compared with the Sensexs 1.57% rise. The scrip had also outperformed the market over the past one quarter gaining 4.84% as against the Sensexs 5.67% fall.

The small-cap company has equity capital of Rs 72.16 crore. Face value per share is Rs 10.

With the latest orders, BGR Energy Systems now carries an order book of Rs 10425 crore.

BGR Energy Systems net profit rose 35.4% to Rs 10.70 crore on 0.4% decline in net sales to Rs 824.66 crore in Q2 September 2016 over Q2 September 2015.

BGR Energy Systems is a leading engineering, procurement and construction (EPC) and balance of plant (BoP) engineering and contracting company for power projects in India.

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Outcome of board meeting of La Tim Metal & Industries
Jan 04,2017

La Tim Metal & Industries announced that the Board of Directors of the Company at its meeting held on 04 January 2017 has transacted the following subject to approval of members in the EGM.

Approved increase in authorised share capital of the Company from Rs 5 crore to Rs 7 crore and alter the Memorandum of Association of the Company.

Decided to issue and allot 40 lakh convertible warrants of Rs 10 each on preferential allotment of basis.

Decided to acquire equity shares of La Tim Sourcing (India) to make 100% subsidiary.

Approved draft notice for convening EGM on 10 February 2017.

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Board of Oracle Credit appoints company secretary
Jan 04,2017

Oracle Credit announced that the Board of Directors of the Company at its meeting held on 04 January 2017 has inter-alia appointed Rupali Kulshrestha, as a Company Secretary and Compliance Officer of the Company w.e.f. 04 January 2017 pursuant to the provisions of Section 203 of the Companies Act, 2013 and Regulation 6(1) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

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IOL Chemicals & Pharmaceuticals gets revision in ratings for bank facilities
Jan 04,2017

IOL Chemicals & Pharmaceuticals announced that Credit Analysis & Research (CARE) has revised the credit rating for Long term Bank Facilities to CARE BB; Stable (Double B; Outlook: Stable) from CARE BB- (Double B Minus) and reaffirmed the credit rating for Short term Bank Facilities to CARE A4 (A Four).

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Board of Nagarjuna Agrichem to consider Q3 and 9M results
Jan 04,2017

Nagarjuna Agrichem announced that the Meeting of the Board of Directors of the Company is scheduled to be held on 03 February 2017, inter alia, to consider, approve and take on record the Unaudited Financial Results for the third quarter and nine months ended 31 December 2016, and Limited Review Report of the Statutory Auditors of the Company on the said Unaudited Financial Results.

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Premier Explosives perks up after winning order
Jan 04,2017

The announcement was made during market hours today, 4 January 2016.

Meanwhile, the S&P BSE Sensex was down 29.65 points or 0.11% at 26,613.59.

On the BSE, 22,338 shares were traded in the counter so far as against average daily volume of 7,744 shares in the past one quarter. The stock had hit a high of Rs 385.90 and a low of Rs 355.05 so far during the day.

The order is for production of PSOM-XL developmental motor for use in the polar satellite launch vehicle (PSLV).

With receipt of the order, Premier Explosives would be foraying into the niche-space sector, which is a significant milestone for the company.

Premier Explosives is one of the major companies in India manufacturing the entire range of commercial explosives and accessories for the civil requirement.

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Emami Paper Mills to consider renewal cum enhancement of working capital facilities
Jan 04,2017

Emami Paper Mills announced that a Meeting of the Finance Committee of the Board of Directors of the Company will be held on 11 January 2017 to consider the following :

1. Renewal cum Enhancement of Working Capital Facilities within overall limit of Rs. 85 crore sanctioned by IDBI Bank.

2. Working Capital Facilities within overall limit of Rs. 85 crore sanctioned by IDFC Bank Limited.

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Buoyant Q4 sales volume guidance boosts Steel Strips Wheels
Jan 04,2017

The announcement was made during market hours today, 4 January 2017.

Meanwhile, the S&P BSE Sensex was up 25.29 points or 0.09% at 26,668.53.

On the BSE, 8,546 shares were traded on the counter so far as against the average daily volumes of 10,662 shares in the past one quarter. The stock had hit a high of Rs 692.10 and a low of Rs 656.10 so far during the day.

The stock had hit a record high of Rs 775 on 14 October 2016 and a 52-week low of Rs 284 on 17 February 2016. It had outperformed the market over the past one month till 3 January 2017, advancing 8.32% compared with the Sensexs 1.57% rise. The scrip had also outperformed the market over the past one quarter gaining 7.27% as against the Sensexs 5.67% fall.

The small-cap company has equity capital of Rs 15.53 crore. Face value per share is Rs 10.

The buoyant volume growth guidance for Q4 March 2017 vis-n++-vis preceding sequential quarter is primarily driven by passenger cars and very good growth in tractors and truck segment.

The commercial vehicles (CV) segment is witnessing very good demand for Q4 March 2017 and will surely negate the demonetization impact, Steel Strips said. The portfolio growth of heavier wheels is getting into high double digit and will surely give its impact on the financial performance of the company in Q4 March 2017, it added.

Net profit of Steel Strips Wheels rose 19.9% to Rs 18.02 crore on 2.8% decline in net sales to Rs 290.95 crore in Q2 September 2016 over Q2 September 2015.

Steel Strips Wheels designs and manufactures automotive steel wheels and is among the leading supplier to Indian and global automobile manufacturers.

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Board of NBCC (India) recommends bonus issue
Jan 04,2017

NBCC (India) announced that the Board of Directors of the Company at its meeting held on 04 January 2017, inter alia, recommended the issue of bonus shares.

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Bharti Airtel rings loud after announcing a special offer
Jan 04,2017

The announcement was made after market hours yesterday, 3 January 2017.

Meanwhile, the S&P BSE Sensex was up 21.10 points or 0.08% at 26,664.34.

On the BSE, 2.74 lakh shares were traded on the counter so far as against the average daily volumes of 1.45 lakh shares in the past one quarter. The stock had hit a high of Rs 308.35 and a low of Rs 299.95 so far during the day. The stock had hit a 52-week high of Rs 384.90 on 28 April 2016 and a 52-week low of Rs 282.30 on 29 January 2016.

The stock had underperformed the market over the past one month till 3 January 2017, falling 4.74% compared with the 1.57% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, declining 4.74% as against Sensexs 5.67% decline.

The large-cap company has equity capital of Rs 1998.70 crore. Face value per share is Rs 5.

Bharti Airtel announced a special offer under which, it will offer free data for 12 months, worth up to Rs 9,000, to customers who switch to Airtel 4G. With this, customers can now experience Indias fastest 4G network at great prices.

The twelve months offer is available to any customer with a 4G mobile handset that is currently not on the Airtel network. Any customer, including existing Airtel customers, upgrading to a new 4G handset can also avail this offer. This offer will be available to customer across India starting tomorrow and will close on 28 February 2017.

Customers will get free 3GB data every month till 31 December 2017 with select prepaid and postpaid packs under this offer. This free data benefit will be over and above the pack/plan benefits.

On a consolidated basis, Bharti Airtels net profit declined 4.9% to Rs 1460.70 crore on 3.4% growth in net sales to Rs 24651.50 crore in Q2 September 2016 over Q2 September 2015.

Bharti Airtel is a leading global telecommunications company with operations in 18 countries across Asia and Africa.

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NHPC signs PPA for Tawang-I and Tawang-II HE Project
Jan 04,2017

NHPC announced that it has signed a Power Purchase Agreement on 29 December 2016 in respect of upcoming projects Tawang-I and Tawang-II HE Project, Arunachal Pradesh with Power & Electricity Department, Government of Mizoram for a period of 35 years from the date of the commencement of operation of the project.

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States with over 90% of Total DISCOM Debts covered under UDAY: Shri Piyush Goyal
Jan 04,2017

Union Minister of State (IC) for Power, Coal, New & Renewable Energy and Mines, Shri Piyush Goyal launched the Ujwal DISCOM Assurance Yojana (UDAY) Web Portal & Mobile App. It would track and monitor the progress of DISCOMs on operational and financial parameters under the UDAY scheme. An important part of the Digital India Initiative, the portal/app will ensure transparency, enhance accountability of various stakeholders and facilitate view of near real time progress, enabling consumers to demand better services for themselves.

Giving details of the UDAY portal/app, Shri Goyal informed that it would provide details of latest progress made by various DISCOMs, as recent as last month/quarter. The DISCOM-level data will be integrated into State level and National level, which will be processed and used for advanced performance analysis. The National, State and DISCOM level dashboards will thus provide a snapshot of latest financial and operational performance at various levels in public domain.

The Minister said that the portal/app is a logical follow-up to the MoUs signed by the States under UDAY, not only to enable monitoring of the progress made by the DISCOMs at Central Ministry level, but also for making future schemes/plans for improving DISCOMs performance. This will be the first time when the performance metrics of various DISCOMs will be available in a single platform, which shall promote healthy competition amongst the DISCOMs/States. This will bring about an ethos of Competitive Federalism among different States to achieve best progress in public schemes, especially in the power sector, Shri Goyal added.

Praising the advent of transparency and accountability with the launch of web portals and mobile apps, Shri Goyal said that the implementation of public programmes and schemes has become a Citizen Process, as these portals and apps have placed all the information in public domain for scrutiny. Suppliers can also develop their capabilities by understanding the focus area of the Utilities, resulting in improved performance by them, he added.

Giving examples of achievements in UDAY among States, the minister quoted the Rajasthan Discom where, in less than two years, annual losses of around Rs. 15000 crores will soon be converted into profits. He also talked about Haryanas progress, where as an example, all 173 villages in Panchkula have received 24x7 Power Supply. Shri Goyal encouraged officials of the Ministry to think innovatively and come out with performance based rewards for best performing States under UDAY. He also talked about starting a Citizen Poll to receive feedback on the ground level achievements of different schemes, which would help recalibrating their implementation process.

During the event, the States of Telangana and Assam joined UDAY by signing Memorandums of Understanding (MOUs) with the Ministry of Power for operational and financial turnaround of their respective DISCOMs, making the tally in the UDAY Club to 20. States with over 90% of total DISCOM debts covered under UDAY, Shri Goyal added.

While the Government of Telangana would take over Rs.8923 crores of the total Rs.11897 crores of DISCOM debt, the Government of Assam would take over Rs.928 crores out of total Rs.1510 crores DISCOM Debt (being 75% of their respective DISCOM debt outstanding as on 30 September 2015, as envisaged in the scheme) and the balance debt would be re-priced or issued as State guaranteed DISCOM bonds. This would amount to annual saving in the interest cost of Rs. 387 crores to Telangana and Rs. 37 crores to Assam respectively. The interest cost on future borrowings is also expected to reduce, providing a saving of around Rs.30-40 crores to these States.

In case of Telangana, the reduction in AT&C losses and transmission losses to 9.95% and 3% respectively is likely to bring additional revenue of around Rs.1476 crores, during the period of turnaround, whereas additional revenue of Rs. 699 crores would accrue to Assam on reduction of AT&C losses and transmission losses to 15% and 3.4% respectively.

The gains to these states through Demand Side interventions in UDAY such as usage of energy-efficient domestic as well as industrial/commercial equipment is expected to be around Rs. 1200 crores & Rs. 260 crores respectively. The States of Telangana and Assam are also expected to benefit around Rs. 2250 crores and Rs. 520 crores respectively on account of the support being extended by the Centre through various coal reform measures.

An overall net benefit of approximately Rs. 6116 crores and Rs. 1663 crores would accrue to these States viz. Telangana and Assam respectively, under UDAY, by way of savings in interest cost, reduction in AT&C and transmission losses, interventions in energy efficiency, coal reforms etc. during the period of turnaround.

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