Demonetisation: PM Modi has created a new normal, will clean and expand economy, says Arun Jaitley

Official Narendra Modi has made "another common" of white trades with crackdown on dim money, Finance Minister Arun Jaitley said on Monday, bearing witness to that demonetisation will incite to a jump in private theory and more open spending on welfare measures. Tending to BJP parliamentary assembling over the outcome o the decision, he assaulted Rahul Gandhi saying from one point of view the Congress pioneer says the demonetisation decision was particularly spilled to BJP overwhelming hitters and on the other he ensures "that even Finance Minister, that infers I, was similarly not careful".

Talking at long last, Jaitley cleared up all parts of the move and said, "Demonetisation has arrange association with poor with poverty and with desperation facilitating" and said once the substitution of cash accomplishes a sensible level, th imprisonments will be encouraged.

Elucidating the possible positive consequences of this move, Jaitley said the country consistently gains Rs 4-5 lakh crore and after this move and these advantages can be used for open spending for progression of commonplace domains and rouse of poor About Rs 8 lakh crore will be accumulated from wage charge this year and Rs 8.5 lakh crore from circumlocutory obligation however despit that another Rs 4-5 lakh crore is required to hold up under expenses for running the country, he said.

"..so if the genuine force paying system develops in the country… then do we need to get money… and in the cas these borrowings of about Rs 4-5 lakh crore consistently can be utilized as a part of nation domains for dejection facilitating and othe tantamount measures," Jaitley included.

Source:- Indianexpress

In ULFA kidnap video, hostage appeals to Assam CM Sarbananda Sonowal, parents for help

Kuldeep Moran, a person from Tinsukia district in upper Assam, who was abducted by the ULFA on August 1, on Monday appeared in a video clip issued by his abductors, in which he pleaded with his parents as well as Chief Minister Sarbananda Sonowal to secure his safe release before he was killed in a crossfire.

“I have been kidnapped by the ULFA. They have been taking me from one place to another on foot by blindfolding me almost every day. I appeal to my parents, as well as to chief minister Sarbananda Sonowal to get me released
as early as possible. I don’t want to get killed in a crossfire ,” Moran said in the video clip that was mailed to several local TV news channels on Monday.

The video clip showed Kuldeep Moran in a kneeling position, with five heavily armed masked men standing guard, with all six facing the camera. Moran was wearing a green t-shirt. Moran’s father Ratneswar Moran, who is a
vice-president of the Zilla Parishad, has some business activities in the Changlang district of Arunachal Pradesh that shares boundary with Tinsukia.

Assam Police director-general Mukesh Sahay said while Kuldeep Moran was abducted by the Paresh Barua faction of ULFA from Changlang district in Arunachal Pradesh on August 1, his family informed the police in Tinsukia district (in Assam) only on August 8. “It was only then that the Assam Police got the family register a case in Arunachal Pradesh,” DGP Sahay told The Indian Express.

DGP Sahay said that though the abduction took place in Changlang district (where Moran’s father Ratneswar Moran has some timber business), the Assam Police was in constant touch with the police in both Arunachal Pradesh and
Nagaland in order to secure safe release of the abducted person. “I have talked to my counterparts in the two states today too,” the Assam DGP said.

Interestingly, while Moran was abducted on August 1, his father Ratneswar Moran said he had received a call from some person identifying himself as from the ULFA who claimed of the abduction and demanded Rs 1 crore as ransom. “When I said I was not a rich man to pay so much money, the ULFA later asked me to get the sum from the Sadiya MLA. They had also set August 12 as the deadline,” Ratneswar Moran said on Monday."
Source:-TOI
Viewmore:-Punjab Mobile Number Database

Grasim Industries to be watched after announcing Q1 earnings

 Grasim Industries' consolidated net profit surged 63.55% to Rs 830.22 crore on 9.16% growth in total income to Rs 9278.13 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 11 August 2016.

Grasim Industries' board of directors at a meeting held yesterday, 11 August 2016, approved 5-for-1 stock split.

Aditya Birla Nuvo's (ABNL) consolidated net profit declined 56.79% to Rs 305.15 crore on 1.62% growth in total income to Rs 3318.68 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 11 August 2016.

Meanwhile, in separate announcements, Grasim Industries and ABNL said that the board of directors of the companies have approved a composite scheme of arrangement between Grasim Industries, ABNL and Aditya Birla Financial Services and their respective shareholders. The announcement was made after market hours yesterday, 11 August 2016.

Among key corporate earnings, Bosch, Hindalco Industries and Sun Pharmaceutical Industries are scheduled to announce their June 2016 quarter earnings today, 12 August 2016.

PTC India's net profit rose 13.46% to Rs 56.45 crore on 13.53% growth in total income to Rs 3684.05 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 11 August 2016.

MRF's net profit rose 2.37% to Rs 490.93 crore on 1.01% rise in total income to Rs 3555.53 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 11 August 2016.

Rural Electrification Corporation announced that it has fixed 29 September 2016 as the record date for the purpose of ascertaining entitlement of eligibility of shareholders for 1:1 bonus issue of shares. The announcement was made after market hours yesterday, 11 August 2016.

JK Lakshmi Cement reported net profit of Rs 28.64 crore in Q1 June 2016 compared with net loss of Rs 23.48 crore in Q1 June 2015. Total income rose 32.33% to Rs 787.64 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 11 August 2016.

Bharti Airtel said after market hours yesterday, 11 August 2016 that the transaction to acquire rights to use 20 megahertz (MHz) 2300 Band 4G TD spectrum of Aircel has been successfully concluded for Orissa circle following the receipt of all necessary approvals and satisfying all the conditions (including conditions stated in the Spectrum Trading Guidelines). With this, the company has completed the transaction in 7 out of 8 circles namely Tamil Nadu (including Chennai); Bihar, Jammu & Kashmir, West Bengal, Assam, North East and Orissa. Bharti Airtel in April this year said it had acquired rights to use 4G spectrum of Aircel in eight telecom circles.

Piramal Enterprises announced that at the meeting of administrative committee of the board of directors held yesterday, 11 August 2016, the committee approved the issue of secured non-convertible debentures (NCDs) aggregating upto Rs 550 crore on private placement basis. The announcement was made after market hours yesterday, 11 August 2016.

Indiabulls Housing Finance announced that it has allotted secured, redeemable, non-convertible debentures aggregating Rs 1915 crore (Rs 400 crore plus Greenshoe of Rs 1515 crore). The announcement was made after market hours yesterday, 11 August 2016.

S. P. Apparels (SPAL) makes its debut on the secondary equity markets today, 12 August 2016. The company had priced its initial public offer (IPO) at Rs 268 per share, the top end of the Rs 258-268 per share price band for the IPO. SPAL is a leading manufacturer and exporter of knitted garments for infants and children. From the proceeds of the fresh issue, SPAL has earmarked Rs 70 crore towards expansion and modernization of manufacturing facility at Tamil Nadu, Rs 63 crore towards repayment of debt, Rs 27.85 crore towards opening of new stores for sale of Crocodile brand, Rs 4.90 crore towards balancing machinery for existing dyeing unit in Perundurai and rest towards for general corporate purpose. SPAL's consolidated profit after tax (PAT) jumped 245% to Rs 34.71 crore on 13% growth in net sales to Rs 532.83 in the year ended 31 March 2016 (FY 2016) over the year ended 31 March 2015 (FY 2015). Hatsun Agro Product turns ex-dividend today, 12 August 2016 for interim dividend of Rs 1 per share for the year ending 31 March 2017 (FY 2017).

Indian Hotels Company turns ex-dividend today, 12 August 2016 for dividend of Rs 0.30 per share for the year ended 31 March 2016 (FY 2016).

Kajaria Ceramics turns ex-dividend today, 12 August 2016 for dividend of Rs 5 per share for the year ended 31 March 2016 (FY 2016).

L&T Finance Holdings turns ex-dividend today, 12 August 2016 for dividend of Rs 0.80 per share for the year ended 31 March 2016 (FY 2016).

Siemens turns ex-dividend today, 12 August 2016 for interim dividend of Rs 27.50 per share for the year ending 30 September 2016 (FY 2016).


Source:-business-standard
Viewmore:-Punjab Mobile Number Database

Taxi apps Uber, Ola are useful for short distances

Banker couple Nirav Gajra and his wife, who work in the same office, used their own car to commute until about four months back. Now, they use an app-based taxi service for the cost benefit it offers. "We usually choose the ride share option. For a 15-16 km commute, we pay around Rs 150 for two persons one way, if there's no surge pricing. This comes to Rs 300 for both ways," says Gajra. If he takes his own car, he spends around Rs 200 only on fuel and Rs 80 on parking. Several factors are driving the move towards car sharing. "As urban clusters witness greater ...
Source:-businessstandard
Viewmore:-Punjab Mobile Number Database

Rajnath Singh anguished over ‘total anarchy’ in Uttar Pradesh

Putting the Samajwadi Party government on the dock over “poor” law and order in Uttar Pradesh, Union Home Minister Rajnath Singh on Sunday said there was “total anarchy” in the state and rape incidents have increased.

“In UP there is an atmosphere of total anarchy. Rape cases have increased by 161 per cent in the present regime. The state lagged in all the fronts and has become ‘Prashn’ (question) Pradesh from Uttar (answer) Pradesh,” he told the concluding session of BJP state executive meet in Jhansi.

“In past 13 years, SP and BSP ruled and both of them looted the state. The burning question now is how long people of the state will be trapped between these two parties. In the coming assembly elections, BJP will form majority government,” the senior BJP leader said. Singh voiced concern over “so much anarchy” in the state, where “corruption has become institutional” and “rapes are committed on highways”.

“The victims of calamities are not getting relief, youths are not getting employment. Why SP government does not fulfil its duties. People have these questions in their mind,” he said. Noting that in a federal structure Union and state governments have to work together, Singh said, “UP is creating hurdles in implementation of Centre’s developmental projects.”
Source;-telegraph
Viewmore:-Punjab Mobile Number Database

Delhi govt to revise minimum wage of workers across city

The Delhi government is soon going to revise the minimum wage of skilled, semi-skilled and unskilled labourers, Labour Minister Gopal Rai announced Friday. The current minimum wage is Rs 9,568 for unskilled workers, Rs 10,582 for semi-skilled workers and Rs 11,622 for skilled workers.

A committee is looking into the issue and will send its recommendations on what the revised wages should be, said Rai. The 13-member tripartite body comprises representatives from workers’ groups, employers’ organisations and the government, said the minister

“The committee, headed by the labour commissioner, was notified on April 12. The commissioner has convened five meetings and constituted two sub-committees. These sub-committees undertook a survey on the price of essential food items in crowded areas such as Mangolpuri, Naraina, Narela, Okhla, Jhilmil Colony, and Wazirpur,” said the minister.

The minister added that the panel members also visited various stores and outlets.

“They noted the price of food items from Kendriya Bhandar, Mother Dairy and Safal outlets, to help calculate the requisite increase in minimum wages,” said Rai.

To figure out the average cost incurred by each family in Delhi, the committee factored in the cost of five components — food, accommodation, electricity, clothing and education — said the minister.

“In an effort to improve the quality of life of labourers, the AAP government is ready to implement the revised wages. The National Nutrition Institute, Hyderabad, has prescribed a requirement of 2,731 calories per worker per day. In addition to food requirements, other components like housing, education, fuel and power, and clothing have also been taken into consideration by the committee,” said Rai.
Source:-indianexpress
Viewmore:-Punjab Mobile Number Database

Goa govt spent only Rs 500 on two visits of Arvind Kejriwal

Delhi Chief Minister Arvind Kejriwal during his recent visits to Goa refused to stay in the state guest house, and only a meagre Rs 500 was spent by the government in the trips, the Legislative Assembly was told August 1.

“The Chief Minister of Delhi was provided vehicles and accommodation at the state guest house. He was received and seen off at the airport. However, he did not avail the accommodation at the state guest house,” State Protocol Minister Dilip Parulekar told the House.

“The state government had presented a flower bouquet amounting to Rs 500 on his first visit,” the minister said.

The question about the expenses on Kejriwal’s visits was tabled by Goa Vikas Party MLA Fransisco Miccky Pacheco.

Delhi Chief Minister had visited Goa twice on May 22 and June 28, during which he addressed a public meeting and also interacted with cross section of society.

AAP has already announced that they will fight on all the 40 seats for the upcoming Goa polls due before March 2017.
Source:-indianexpress
Viewmore:-Punjab Mobile Number Database

Operating expenses to remain high in FY17: V Srinivasan

Axis Bank's June 2016 quarter earnings were dented by higher provisions as well as operating expenses. Going forward,the bank's management believes operating expense would be higher than that in FY16 even as it expects a large part of incremental bad loans from the watch list to accrue in the first half of this financial year. V Srinivasan, deputy managing director, Axis Bank, talks to Sheetal Agarwal about the bank's performance in the quarter gone by and the road ahead. Edited excerpt

Against the Street's expectations of a flattish net profit, the bank witnessed a sharp fall in the same. What went wrong?


Higher provisions as well as higher operating expenses impacted our bottom line in the quarter. The increase in operating expenses was primarily on account of investments in new branches. So, the cost of infrastructure as well as additional people was higher in the quarter. While operating expenses should soften a bit from here on, they will be higher when compared to FY16.

We should look at two aspects of our quarterly results. One is the operating performance, the second is in terms of bottom line. Bottom line performance has been affected by higher credit costs. But, we continue to do well on the operating level. We have gained market share in both deposits and loans in the June quarter.

In addition to the watch list, the bank is witnessing stress in healthcare and education sectors. Could we see further stress from outside the watch list in the coming quarters?

I would like to clarify that 92 per cent of corporate slippages came from exposures in the watch list. The slippages in the first quarter from sectors such as healthcare, education were also part of the watch list. Going forward, too, we expect that the bulk of the slippages would be from exposures in the watch list.

Q1 saw the watch list fall by 10 per cent. Will slippages from the watch list be similar in Q2, or will those be higher?

We expect about 60 per cent of the watch list exposures to slip through this financial year and the next. We had stated earlier that the slippages could be higher in the first couple of quarters of FY17. We reiterate that guidance.

The bank's net interest margin (NIM) contracted in the June quarter and it is likely to be lower in FY17 as well. What are the reasons?

We had earlier stated that our NIM for FY17 would be above 3.6 per cent and we reiterate that expectation. There was a marginal dip in NIM in Q1, which was on account of the higher amount of slippages.

Your credit costs stood high at 190 basis points in Q1. What is the outlook on credit costs for the full year?

We are maintaining our credit costs guidance of 125-150 basis points in FY17.

What has driven the strong growth in corporate loans in the quarter?

A large part of incremental corporate loans are towards working capital needs. Strong growth in corporate loans is also driven to a large extent by refinance loans. While SME (small and medium enterprises) loan growth has been good, bulk of the incremental lending is to companies which have credit rating of A and above.

In Q1, the number of your corporate borrowers having credit rating of below BBB/unrated increased. Please explain.
Eighty-two per cent of our incremental lending is to companies enjoying credit rating of A and above. The increase in sub-BBB rated segment is because we did a rating review of accounts in our watch list and a lot of companies in BBB have come down to below BBB. Beyond that, the ratings profile has remained largely stable.

What is your loan growth guidance for FY17?

We believe we can achieve 18-20 per cent loan growth in FY17. While the retail segment will grow the strongest at about 25 per cent, corporate and SME segment will also do well.

Are you witnessing signs of an uptick in private capex in select industries, if not all?

Private capex investment continues to stay muted as of now. We expect some pickup in the later part of FY17.
Source:-buisnessstandard
Viewmore:-Punjab Mobile Number Database

Communal protest in Phagwara: Shiv Sena workers, Muslims clash

Coming face-to-face during their protest marches, Shiv Sena leaders and Muslims clashed with each other at Phagwara on Friday. No casualties were reported as the police managed to control the situation.

Sources said following the recent disruption of the Amarnath Yatra in Jammu and Kashmir, the Shiv Sena leaders had been targeting the local Muslims and raising anti-Pakistan slogans. On Thursday evening, they wrote ‘Pakistan Murdabad” on the wall of a shop owned by a Muslim.

Muslims protested against this attitude of the Shiv Sena and took out a march under the leadership of Uvais-ur- Rehman, the Shahi Imam of Jama Masjid of Pahgwara. The Shiv Sena leaders, too, carried out a protest march, led by their state vice-president Inderjit Karwal, while raising anti-Pakistan slogans. Both the groups came face to face at Naiyan Wala Chowk and passed comments on each other. Tempers ran high and both the sides started pelting stones at each other. SHO Aman Devesher suffered minor injuries.

SP Ajinder Singh and DSP Harkanwalpreet Chahal rushed to the spot with police force and managed to control the situation. Later, DIG (Jalandhar range), Kapurthala SSP Rajinder Singh and Deputy Commissioner Jaskiran Singh visited the spot.Heavy police force was deployed at Phagwara to avoid any untoward incident.

Late in the evening Phagwara police registered a case against Shiv Sena leaders including Inderjit Karwal and six others. The case was registered on the complaint of Uvvais-ur- Rehman. After this, state Shiv Sena president, Yog Raj, gave a bandh call for Saturday in Phagwara and demanded transfer of SP and DSP.
Source:-indianexpress
Viewmore:-Punjab Mobile Number Database

Glorification of terrorists makes it clear where Pakistan’s sympathies lie: India

India Friday hit back at Pakistan for describing slain Hizbul Mujahideen commander Burhan Wani as martyr and announcing its plans to observe July 19 as black day to express solidarity with people of Kashmir.

MEA Spokesperson Vikas Swarup, in a press release, said that India is dismayed at the continued attempts by Pakistan to interfere in our internal matters. He reiterated that Pakistan or any other external party has no locus standi on the Kashmir issue.

“Continued glorification of terrorists belonging to proscribed terrorist organisations makes it amply clear where Pakistan’s sympathies continue to lie,” Swarup said.

Accusing Pakistan of seeking to derive political mileage out of Kashmir unrest, Swarup said India unequivocally rejects the decision taken by Prime Minister Nawaz Sharif’s cabinet today.

Sharif today chaired a cabinet meeting, where he declared Wani as martyr.

“Pakistan would continue to extend moral, political and diplomatic support for Kashmiris in their just struggle for right to self-determination,” Sharif said.

The prime minister directed all the relevant departments to highlight the Kashmir issue at international fora.

Source: http://indianexpress.com