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Tuesday, June 12, 2018

Over 1,300 new FPIs register with Sebi in FY18
More than 1,300 fresh foreign portfolio investors (FPIs) were registered with Sebi in 2017-18 on continued interest in the Indian capital markets, as per the regulator's data. In comparison, close to 3,500 new FPIs were registered with Securities and Exchange Board of India (Sebi) in the preceding financial year. The number of FPIs with the markets regulator climbed to 9,136 at the end of March this year from 7,807 a year ago, resulting in an addition of 1,329 according to Sebi data. According to market analysts, the key reason for increasing FPI registrations is the continued interest in the Indian equities and bonds.

Coal India's output increased by 105 MT in 4 years: Goyal
State-owned Coal India's output Increased by 105 million tonnes (MT) in the last four years to reach 567 MT in 2017-18, Union Minister Piyush Goyal said yesterday. The remarks come at a time when the country is facing coal shortages. Coal India Ltd's output has increased from 462 MT in 2013-14 to 567 MT in 2017-18, the coal minister said.

Academy of Pastry Arts opens Centre in Mumbai
Academy of Pastry Arts India, a trusted name in the field of pastry and culniary schools, celebrated the grand opening of their new centre in Mumbai, Andheri (East) which is Academy’s third centre in India. The inaugural ceremony saw the presence of Chef Manjit Singh Gill, President, Indian Federation of Culinary Associations, as the Chief Guest, along with Guests of Honor, Chef Jean Francois Arnaud (MOF) and Chef Christophe Morel. Chef Niklesh Sharma, Co-Founder & Executive Pastry Chef, Academy of Pastry Arts said, “With state of the art equipments and techniques, the Academy of Pastry Arts is a place for Bakery & Culniary aspirants to learn the art of cooking and Baking. After establishing ourselves as a renowned brand in Gurgaon and Bangalore, we are proud to finally start our operations in Mumbai as well”.

SVC Bank bags NPCI’s National Payments Excellence Award
SVC Bank has bagged the National Payments Excellence Award 2017 awarded by National Payments Corporation of India (NPCI) recently. The award is the highest recognition in the industry for exceptional performance in payments system. SVC Bank has been awarded for its outstanding performance in NFS ATM Network & CTS. "It’s only a matter of time when we will see our nation become entirely digital. There are efforts being made to graduate from the cheque system to card system and eventually to UPI system in order to provide more convenience to customers, lessen the risk of fraud and thereby get more people included in the digital banking umbrella,” said Ajit Venugopalan, MD, SVC Bank.

ZIM Laboratories lists on BSE
ZIM Laboratories (ZIM), an R&D centred pharmaceutical company listed its shares on BSE on Friday, June 8, 2018. Yesterday it rose by Rs 9.95 or 4.99% to Rs. 209.45. ZIM got listed on OTC Exchange of India in 1994, following the Sebi guidelines the company listed on BSE and will have a price discovery as per trading on the bourses. The book value price was Rs 160 per equity share. Promoted by Anwar Daud, the company has R&D focused business model helping customers with product development, co-development, out licensing, manufacturing, supplies and marketing support with a strong IP base - 26 inventions with 53 patent filings and 174 clients across 45 countries.

Tata Power bags 150 MW solar project in Maharashtra
Tata Power yesterday said it has bagged the contract for setting up a 150-MW solar project in the state from the Maharashtra State Electricity Distribution Company (MSEDCL). The company's subsidiary Tata Power Renewable Energy (TPREL) has bagged the contract and will sign a 25-year power purchase agreement (PPA) with MSEDCL, a release said. This project is a part of MSEDCL's 1,000 MW grid connected solar power projects for which the state utility had invited bids through competitive bidding process and e-reverse auction for a period of 25 years.

AIBEA urges RBI to revoke lending restrictions on Dena Bank
The All India Bank Employees Association (AIBEA) has urged RBI governor Urjit Patel to revoke lending restrictions on Dena Bank, claiming the move will deteriorate its financial health further. In view of high non-performing assets (NPAs), the Reserve Bank of India (RBI) last month had initiated prompt corrective action (PCA) against Dena Bank, restricting the lender from giving fresh credit and conducting new hirings. "We regret that RBI has made a virtual embargo on any lending in Dena Bank. Chocking the bank's lending operations will further deteriorate its health," AIBEA general secretary CH Venkatachalam said in a letter dated June 10 addressed to the RBI governor.

Rutu Group launches Rutu Riverview Classic
Rutu Group Of Companies has launches a conspicuous residential project located in Kalyan recently. There will be no GST on all 2BHK under construction homes, where people can save around Rs 7 lakh. It is a residential complex to be built in Kalyan which is a perfect paradigm of eco-friendly construction. The 2BHKs start at Rs 57 lakhs onwards. All flats are with 10.6 feet height floor to floor, are designed and built for comfortable living. The construction is eco-friendly to protect nature. There are abundant tree plantation of a varieties of bio-aesthetic indigenous trees to maintain and protect eco- balance and untainted health.

Infosys gets nod to delist from Euronext Paris, London
IT major Infosys yesterday said its proposal for voluntary delisting of its American Depositary Shares (ADSs) from Euronext's Paris and London exchanges has been approved by the Board of Directors of the two bourses. In March this year, Infosys had announced its intention to delist the ADSs on account of the "low average daily trading volume of Infosys ADS on these exchanges, which is not commensurate with the related administrative requirements". "...The voluntary delisting of its ADS' from the Euronext Paris and Euronext London exchanges has been approved by the Board of Directors of Euronext Paris SA and by Euronext London Ltd," Infosys said in a BSE filing yesterday.

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