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Board of Balmer Lawrie & Company recommends final dividend
Jun 05,2017

Balmer Lawrie & Company announced that the Board of Directors of the Company at its meeting held on 29 May 2017, inter alia, have recommended the final dividend of Rs 7 per equity Share (i.e. 70%) , subject to the approval of the shareholders.

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Board of Gujarat State Fertilizers& Chemicals recommends final dividend
Jun 05,2017

Gujarat State Fertilizers& Chemicals announced that the Board of Directors of the Company at its meeting held on 29 May 2017, inter alia, have recommended the final dividend of Rs 2.2 per equity Share (i.e. 110%) , subject to the approval of the shareholders.

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Board of Gujarat Narmada Valley Fert. & Chem. recommends final dividend
Jun 05,2017

Gujarat Narmada Valley Fert. & Chem. announced that the Board of Directors of the Company at its meeting held on 29 May 2017, inter alia, have recommended the final dividend of Rs 5 per equity Share (i.e. 50%) , subject to the approval of the shareholders.

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Board of Escorts recommends final dividend
Jun 05,2017

Escorts announced that the Board of Directors of the Company at its meeting held on 29 May 2017, inter alia, have recommended the final dividend of Rs 1.5 per equity Share (i.e. 15%) , subject to the approval of the shareholders.

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Board of Arihant Superstructures recommends final dividend
Jun 05,2017

Arihant Superstructures announced that the Board of Directors of the Company at its meeting held on 27 May 2017, inter alia, have recommended the final dividend of Rs 1 per equity Share (i.e. 10%) , subject to the approval of the shareholders.

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Tata Power Company launches super efficient ceiling fan program
Jun 05,2017

Tata Power Company has launched super efficient ceiling fan program for its residential consumers in Mumbai as part of its Demand Side Management Initiatives on occasion of World Environment Day. The program has been rolled out in partnership with Atomberg Technologies, an award winning set up launched by the alumini of IIT - Mumbai.

The ceiling fans named Gorilla are based on brushless DC technology, consuming just 28 watts at the highest speed. Under this program, each residential consumer is eligible to procure 4 ceiling fans at a price of Rs 1750 each, against market price of Rs 3500 per fan.

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Steel Strip Wheels announces sales performance
Jun 05,2017

Steel Strip Wheels has achieved total wheel rim sales of 11.19 lakh compared to 11.51 lakh in May 2017, representing a decline of 3%. The drop was majorly due to the commercial vehicle adjustment for BS-IV , which is expected to pick up in June 2017 onwards the production started picking up from mid May 2017. In terms of value, the company has achieved gross turnover of Rs 107.75 crore in May 2017 compared to 125.47 crore in May 2016, there by recording a drop 17% and achieved a net turnover of Rs 94.49 crore in May 2017 compared to Rs 112.61 crore in May 2016, recording a drop of 16%.

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Conair migrates to Ramco Systems Aviation Suite v5.7
Jun 05,2017

Ramco Systems announced that Conair (Canadas most experienced specialty aircraft operations provider) has upgraded to the Series 5 version of Ramco Systems Aviation Suite, in order to utilize the advanced features of the product and benefit from increased productivity.

Ramco Aviation Suite V5.7 has brought automation across Maintenance & Engineering, Supply Chain Management, MRO Sales and Finance, coupled with Smart Operations & Smart Search. The application has helped in providing seamless integration along with comprehensive features matching Conairs requirements.

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Uflex provides product update
Jun 05,2017

Uflex announced that it has been able to optimise cell structures of laser engraved rotogravure cylinders to an extent that can actually result in about 20-25% less ink consumption that what the electromechanically engraved counterpart would require in order to render the same image resolution and enhancement. This improvement effectively gets more print coverage with lesser amount of ink.

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Joint Lenders Forum of MSP Steel & Power decide to adopt S4A Scheme
Jun 05,2017

The Joint Lender Forum of MSP Steel & Power in its meeting held on 02 June 2017 has decided to resolve the account under guidelines for Scheme of Sustainable Structuring of Stressed Assets Scheme issued by the RBI and decided to forward the restructuring proposal to the Overseeing Committee.

Under S4A, the existing debt of the Company will be bifurcated into two parts -

Part A comprising sustainable debt which will be 52% of existing debt and will be served as per the terms and conditions existing for the facilities.

Part B being the unsustainable part of the loan which can either be converted into equity shares of the Company and/or optionally convertible preference shares/ optionally convertible debentures as per the requirements of the S4A guidelines issued by the RBI.

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Board of Unity Infraprojects approves to apply before the NCLT for insolvency
Jun 05,2017

Unity Infraprojects announced that the Board of Directors of the Company at its meeting held on 05 June 2017 transacted the following -

Considered and discussed the Notice received from ICICI Bank recalling the Financial Assistance granted to the Company.

Discussed and approved to make an application before the National Company Law Tribunal to initiate Corporate Insolvency Resolution Process in respect of the Company.

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Tata Elxsi licenses its advanced autonomous vehicle middleware platform n++AUTONOMAIn++
Jun 05,2017

Tata Elxsi announced the licensing of its advanced autonomous vehicle middleware platform n++AUTONOMAIn++ to one of the worlds top 5 automotive OEMs for their driverless car R&D.

The Autonomain++ platform provides carmakers and Tier 1 automotive suppliers with a comprehensive and modular solution covering Perception, GNC and Drive-by-wire systems, to quickly build, test and deploy autonomous vehicles.

This solution supports sensor fusion with a variety of sensors from cameras to Radar and Lidar, and leverages sophisticated artificial intelligence (AI) and deep learning based algorithms to deliver the complex use-case scenarios expected of driverless cars.

Autonomai also allows rapid region specific adaptation through its pre-integrated validation datasets and AI & deep learning capabilities.

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Zydus receives final approval for Mirtazapine Orally Disintegrating Tablets
Jun 05,2017

Zydus Cadila has received final approval from the USFDA to market Mirtazapine Orally Disintegrating Tablets USP in strengths of 15 mg, 30 mg and 45 mg.

The drug is an anti-depressant and will be produced at the groups formulations manufacturing facility at Baddi.

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Godrej Properties announces group housing project
Jun 05,2017

Godrej Properties announced its entry into the Sohna real estate market to develop a Group Housing Project in Sector 33.

This project will offer approximately 157,000 square meters (approximately 1.7 million sq. ft.) of saleable area and will be developed as a modern group housing development. This project is located just 12 kms from Golf Course Extension Road and offers easy access to Gurgaon from Sohna Road.

This is GPLs first project in Sohna and eighth within the National Capital Region (NCR).

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Hindustan Oil Exploration Company provides update on Dirok Gas Development Project
Jun 05,2017

Hindustan Oil Exploration Company has provided update on Dirok Gas Development Project:

The Company had completed Phase 1 of Dirok Gas Development and successfully tested the gas flow during last week of March 2017 and have been supporting Oil India, the Licensee of the block, to secure Petroleum Mining Lease (PML) as approved and recommended by the Government of India to the Government of Assam to commence commercial gas sales by May 2017.

The Assam State Board for Wildlife (SBWL) headed by the Chief Minister had recommended the project in full including all the wells. However, the Standing Committee of National Board for Wild Life (NBWL), Ministry of Environment and Forests, during its meeting held on 15 May 2017 while approving the overall project, imposed restrictions on oil and gas wells located within one kilometer of Wild Life Sanctuaries.

As the wells located within the 1 km area were drilled after submission of wild life management plan and duly approved by the appropriate authorities and this one kilometer restriction around Protected Areas were not part of any previous guidelines of Ministry of Environmentand Forest, a representation is being submitted to the Ministry of Environment and Forests, for removal of this restrictive new condition. The representation of the Company is supported by the nodal ministry, Ministry of Petroleum and Natural Gas.

The Company expects that the matter will be placed before the Standing Committee of NBWL for reconsideration in the light of its wider adverse implications across all oil and gas producing wells located within 1 km of Protected Areas.

All project activities of Phase 2 are on track. The Company has successfully drilled Dirok 5 well. After its ongoing testing and completion, the rig will commence drilling of Dirok 6 well.

Due to this unforeseen development, the Company anticipates further delays in issue of PML to Oil India and now expect to commence commercial gas sales only during July - September quarter, post review of its representation by NBWL.

The Company is confident of resolving this issue with the support of Ministry of Petroleum and Natural Gas and reiterates its earlier guidance of exiting Q2 FY 2018 with a production level of 25 million standard cubic feet per day and a plant capacity to process 36 million standard cubicfeet per day (equivalent to 1 million standard cubic meters per day).

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