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STERLITE TECHNOLOGIES EYES TO DOUBLE ITS ORDER BOOK IN 2017

Sterlite TechnologiesBSE 0.16 %, a part of mining group Vedanta Resources, expects to more than double its order book in a year on the back of growing broadband infrastructure in the country as well as growth in overseas markets.

“We are sitting with a strong order book of Rs 2,500 to Rs 2,700 crore, and have a very strong visibility of pipeline of Rs 6,000 to Rs 7,000 crore,” Sterlite Technologies chief executive Anand Agarwal told ET, adding that the existing orders would be executed within a year.

Agarwal said his estimates are based on a mix of global volumes especially from China, Brazil, and Europe, as well as Indian telcos’ aggressive adoption of a fibre strategy for the delivery of reliable services, especially high-speed broadband.

On the back of strong growth potential, the Pune-based company is also investing Rs 300 crore to increase the annual fibre production capacity from nearly 22 million to 30 million km, and the planned expansion, according to it, would be completed by June 2017.

POST DEMONETISATION, AUTO SECTOR TO SEE SHARP DECLINE IN DECEMBER

Auto sector is likely to witness decline in December wholesale figure with the rural retail market suffering a double-digit fall as compared to its urban counterpart due to liquidity crunch post demonetisation, says a Nomura report.

According to the Japanese brokerage firm, normalised availability of cash may happen by February-March 2017, post which growth is expected to pick up.

“We expect December wholesales to be impacted by a sharp decline in retail sales due to demonetisation,” Nomura said in a research note, adding that Original Equipment Manufacturers (OEMs) might go for inventory de-stocking to clear off 2016 model year inventory.

The report further noted that “rural retails are impacted more (double-digit decline) compared to the urban segment, due to the liquidity crunch”.

The outlook for the auto sector, however, looks bullish post the normalisation of cash crunch.

CASH WITHDRAWAL CAP MAY NOT BE NECESSARY FROM JANUARY 1: MINISTER SANTOSH GANGWAR

The cap on cash withdrawal may not be necessary from January 1, as 250-300 million currency notes were being printed on a daily basis, Minister of State for Finance Santosh Gangwar has said.

“I have been told that 25-30 crore notes are being printed on a daily basis. Continuing with the withdrawal cap is not necessary from January 1,” Gangwar told CNBC TV18 in an interview here on Thursday.

“Inconvenience of limited withdrawal will lessen after December 30. Improvements can be seen in the transaction process in the last few days,” he added.

The central government had demonetised Rs 500 and Rs 1,000 currency notes on November 8, sending the whole nation into a tizzy. Long queues outside banks have been a daily occurrence since then because enough currency notes are not available with the banks.

The Minister said that sufficient quantities of new currency could not have been printed earlier as it would have leaked the news of demonetisation which was intended to be a surprise. This is particularly true for the new Rs 500 notes, printing of which, presumably, started after November 10.

VODAFONE LAUNCHES 4G SERVICES IN TAMIL NADU

Leading telecom service provider Vodafone today launched its 4G (fourth generation) services in the state.

The service “Vodafone Supernet 4G” initially launched here and in neighbouring Tirupur, will be made available in all major towns and cities across the state by March 2017, Vodafone India Business Head-Tamil Nadu, S Murali told reporters here.

Built on the efficient 2100 MHz, this state-of-the-art network will enable Vodafone Supernet 4G customers to access internet via mobile with speed, across a range of smart devices including Mi-Fi and Dongles, he said.

On the special launch offer, he said free SIM upgrade to 4G for customers along with high-speed 4G SIM and 2GB free data on every 4G SIM upgrade.

This will significantly enhance the mobile internet experience for customers with faster download/upload of videos and music, seamless video chats and will also facilitate greater ease in using the favourable apps, he said.

LUPIN GETS FDA NOD TO MARKET ULCERATIVE COLITIS TABLETS IN US

Drug firm Lupin has received tentative approval from the US health regulator to market its Balasalazide Disodium tablets, used for treatment of ulcerative colitis, in the American market.

The company has received tentative approval to market its Balasalazide Disodium tablets 1.1 gm from the United States Food and Drug Administration (USFDA), Lupin said in a BSE filing today.

The company’s product is generic version of Salix Pharmaceuticals Inc’s Giazo tablets in the same strength, it added. “Giazotablets had the US sales of USD 0.79 million (IMS MAT September 2016),” Lupin said.

Balasalazide Disodium tablets are indicated for the treatment of mildly to moderately active ulcerative colitis in male patients 18 years of age and older, it added.

BUILDERS PINNING HOPES ON RATE CUTS FOR REVIVAL IN 2017

Property market was the economy’s underbelly this year and demonetisation towards the fag end only made it more isolated. But things might change in 2017 as builders are pinning their hopes on lower interest rate and transparency for the sector to come back to life.

The realty space remained weak even this year as housing sales fell on low demand and adverse impact of junking of old cash, but developers expect recovery from the second half of 2017.

The multi-year slowdown, however, did not deter investment as cash-starved developers raised Rs 48,300 crore in 2016 from private equity (PE) investors to fund their projects, up 53 per cent from last year’s, according to property consultant Cushman & Wakefield.

“Housing sales were better this year before note ban. But sales have slowed in the last two months. We feel that 2017 will be a golden year for the developers in the primary market as they will benefit from the government’s demonetisation move and a likely fall in interest rates on home loans,” realtors’ apex body CREDAI President Getamber Anand told PTI.

INTER-MINISTERIAL GROUP TO DISCUSS APPLE’S DEMAND NEXT MONTH

A group of senior officials from ministries, including commerce and finance, will early next month deliberate on the incentives sought by US-based iPhone maker Apple to set up a manufacturing unit in the country.

Officials from departments of commerce, industrial policy and promotion (DIPP), revenue, environment and forest, electronics and information technology (DeITY) will attend the meeting.

The group is likely to meet in the first week of January to discuss the issue, sources said. In a communication to the government, the Cupertino-based technology major has asked for several tax and other incentives to enter India in the manufacturing sector.

However, government sources said the technology-major should set up the manufacturing unit in India without seeking additional support.

“Several companies in India are manufacturing mobile phones in India. Nobody is asking for additional incentives. Currently, the government provides sufficient support to boost electronic manufacturing,” they added.

2016: HIGH GROWTH, MAIDEN POLICY PROPELLED AVIATION SECTOR

A maiden integrated policy and over 20 per cent month-on-month traffic growth gave wings to the country’s civil aviation sector in 2016.

The sector reaped benefits out of a rise in domestic disposable income, lower jet fuel prices and enhanced services to the non-metro cities, which accelerated India’s passenger traffic growth in 2016.

According to the latest data from the Directorate General of Civil Aviation (DGCA), passenger traffic during January-November 2016 zoomed by 23.10 per cent to 90.36 million.

This rise and other contributing factors have led global airlines’ industry body International Air Transport Association (IATA) to estimate that India will displace the UK as the third-largest aviation marketplace by 2026. It is currently at 9th.

Recently, Minister of State for Civil Aviation Jayant Sinha elaborated that the sector has “dramatic headroom” for growth as India has only 150 million passenger trips a year as compared to China’s 450 million and the US’ 800 million.

In the backdrop of such high growth, the sector finally got its maiden integrated National Civil Aviation Policy (NCAP). The long-awaited policy envisages a roadmap to support 300 million air travellers in five years and steps to make flying affordable and convenient.

Broadly, the policy dwells on upgrade of airports, regional connectivity, easing of norms for flying abroad, liberalisation of the open skies regime, development of cargo hubs, chopper services, attracting investments in maintenance and ground-handling and security.

LUPIN GETS USFDA NOD FOR PITAVASTATIN TABLETS

Drug firm Lupin has received tentative approval from the US health regulator to market its cholesterol lowering Pitavastatin tablets in the American market.

The company has received tentative approval from the United States Food and Drug Administration (USFDA) to market its Pitavastatin tablets in the strength of 1 mg, 2 mg and 4 mg, Lupin said in a filing to BSE.

The company’s tablets are generic versions of Kowa’s Livalo tablets in the same strengths, it added.

As per IMS MAT September 2016 data Livalo tablets had US sales of $245.3 million, Lupin said.

“Pitavastatin tablets are indicated as an adjunctive therapy to diet to reduce elevated total cholesterol, low-density lipoprotein cholesterol, apolipoprotein B, triglycerides and to increase HDL-C in adult patients with primary hyperlipidemia or mixed dyslipidemia,” it added.

RBI SEEKS DETAILS OF RS 500/1,000 DEPOSITS FROM BANKS TODAY

RBI has asked banks to report details of deposits of old Rs 500/1,000 notes to it after the close of banking hours today, which is the last date to accept the invalid currency.

“With the closure of the facility of exchange of SBNs (defunct notes) as at the close of business on December 30, 2016, all banks should report information on collection of SBNs on December 30, 2016, itself at e-mail,” the central bank said in a notification.

All lenders, including public, private, rural and cooperative banks, have been asked to make arrangements to gather information on deposits of the Specified Bank Notes (SBNs).

GODREJ PROPERTIES INKS PACT FOR RESIDENTIAL PROJECT IN PUNE’S BAVDHAN

Godrej Properties, real estate development arm of Godrej Group, has entered into a partnership to develop a residential group housing project in Bavdhan locality in Pune. The project will be developed through profit share arrangement.

Spread over around 5.5 acres, the project will offer around 5.60 lakh sq. ft. of saleable area and will be developed as a modern residential development comprising of apartments of various configurations, the company said in a release.

“We are happy to add this new project in Pune, which is a key growth market for us. This will be our 11th project in Pune. We look forward to delivering an excellent project and to continuing to grow our presence in Pune,” said Pirojsha Godrej, MD & CEO, Godrej Properties.

GE POWER INDIA BAGS RS 271-CR CONTRACT FROM BHEL

GE Power India Ltd, which was formerly know as Alstom India Ltd, has bagged a contract of nearly Rs 271.1 crore from BHEL in Tamil Nadu.

“GE Power India Ltd has been awarded a contract worth approximately RS 271.1 crore by Bharat Heavy Electricals Ltd (BHEL) to supply components and services for the supercritical steam generator island packages for 2×800 MW coal-based Uppur Thermal Power Project and 1x800MW coal-based North Chennai Supercritical Thermal Power Project Stage-III,” the company said in a BSE filing.

It further said: “Both the thermal power projects are located in Tamil Nadu. This is in line with the government’s focus on upgrading the power infrastructure in the country.”

CONTAINER TERMINAL IN MUNDRA CLOCKED AN ANNUAL THROUGHPUT IN EXCESS: DP WORLD

Dubai’s DP World Friday said its container terminal in Mundra, Gujarat clocked an annual throughput in excess of 1.1 million TEU (Twenty foot Equivalent Units), a 21% on 2015.

It handled 1,102,858 TEU from 497 vessels (until 26th December 2016) compared to 909,996 TEUs from 511 ships, a year earlier.

INDIA CONTINUES TO FORAY MORE INTO DIGITAL TRAVEL BOOKING

India continued to foray more into digital travel booking with a greater emphasis on mobile transactions in 2016, according to a survey by travel portal Yatra.

“With smartphone prices crashing and penetration increasing rapidly, the Indian consumers are rapidly using mobile devices as their primary means to book travel. We have seen close to 40% of our bookings and 67% of our traffic are coming via the mobile website and mobile applications,” the portal said in a release.

‘TECH TRANSFER TO INDUSTRIES FROM ISRO A CONTINUOUS PROCESS’

Satish Dhawan Space Centre (SDSC), Sriharikota, Director P. Kunhikrishnan, on Wednesday said technology transfer to the Indian industries by the Indian Space Research Organisation (ISRO) would be a continuing process aimed at achieving self-reliance.

Speaking at the eighth convocation of the Jawaharlal Nehru Technological Univeristy, Anantapur, (JNTUA) as the chief guest, Mr Kunhikrishnan said around 300 technologies had been transferred to Indian industries for commercialisation.

Indian industries involving over 500 small, medium and large-scale industries were involved in the implementation of the various programmes of the ISRO as technical consultants and suppliers, Mr Kunhikrishnan .

INDIAN EMBASSY IN EGYPT HOSTS SEMINAR ON SCIENCE AND TECHNOLOGY

A panel of noted researchers and professors extensively discussed how science, technology and innovation contributed to the economic and social progress in the 21st century at a seminar organised by the Maulana Azad Centre for Indian Culture (MACIC).
MACIC, the cultural wing of the Indian Embassy in Egypt organised the seminar on December 29 as part of ‘MACIC Roundtable’, a monthly series of seminars involving youth, academicians and civil society on the issues of mutual interest to India and Egypt.
The panel comprised of noted speakers – Walid Mohamed El Rodeny, senior Researcher, Agricultural Research Centre, in Giza, Haitham Akah, Head of Space Communications Department at NARSS and Professor Naidu Subba Rao, ICCR Visiting Professor of Bioinformatics at Ain Shams University.

INDIA’S SU-30MKI BECOMES AIRCRAFT OF CHOICE TO TEST NEW MISSILES, BOMBS

In last one week, the Indian Air Force’s (IAF) Su-30MKI has been deployed to test the Astra air-to-air beyond visual range missile and the Smart Anti-Airfield Weapon, to add to the heavy BrahMos air launched cruise missile which was tested earlier.
Last week, India’s Defense and Research Development Organisation (DRDO) flight tested the Smart Anti-Airfield Weapon (SAAW) from a Sukhoi-30 MKI aircraft of IAF.

The trails were tracked by Radar and Telemetry ground stations at the Integrated Test Range (ITR) during the entire duration of the flight, an official press release said.
Two weeks ago, the IAF test fired a beyond visual range (BVR) air-to-air missile Astra against an actual target in full operational configuration for the first time over Bay of Bengal.
Two rounds of the missile from Sukhoi-30 MKI aircraft were targeting pilot-less target aircraft (PTA) Banshee, Defense officials were quoted by local media near the test range in Odhissa state.
The mission was termed ‘successful’ considering the missed-distance calculation, though the missile failed to achieve a direct hit.

2ND SQUADRON OF THE C-130J SUPER HERCULES TO BE HOUSED IN WEST BENGAL

India is set to position its second squadron of special operations aircraft C-130J in Panagarh, West Bengal, to increase flying in areas close to the disputed boundary with China.
“The second squadron of C-130J would be located at Panagarh. The flying will start by March-April 2017,” Air Chief Marshal Arup Raha said here on Wednesday ahead of his retirement on December 31.
The mountain strike corps being raised by the army would eventually be located at Panagarh.

India currently has 13 corps – 10 defensive and 3 offensive corps – 1, 2, and 21 based in Mathura, Ambala and Bhopal.

The 17 corps will be the first one to have specific capabilities to fight in the mountains.

IAF GETS ITS 6TH FULLY OPERATIONAL AIR BASE IN ARUNACHAL PRADESH

Arunachal Pradesh Chief Minister Pema Khandu on Wednesday inaugurated the Advanced Landing Ground (ALG) at Tuting in the state’s Upper Siang District for Indian Air Force’s operations, an official said.
The event took place in the presence of Air Marshal C. Hari Kumar, Air Officer Commanding-in-Chief, Eastern Air Command (EAC) and Air Vice Marshal Manavendra Singh, Senior Officer-in-Charge Administration, Eastern Air Command and other senior Army and Air Force officers, said an IAF release.
After the Cabinet Committee on Security’s approval in June 2008, Air Force embarked on an ambitious reconstruction plan to upgrade Tuting ALG along with other landing grounds in the eastern command.

BANK OF MAHARASHTRA ADOPTS VILLAGE IN SANGLI FOR DIGITAL TRANSACTIONS

Pune based public sector lender Bank of Maharashtra, has helped to make the village of Malangaon, in Sangli district, Maharashtra, a completely cashless village.

Post the announcement of withdrawal of 500 and 1000 currency notes and the push towards a cashless society financial inclusion became the need of the hour, and the bank officials with the help of the District collector and several government officials adopted the village, said the bank in a statement to the press.

Located 3.5kms away from Shirdoh branch of the bank, the business correspondents did door to door campaigns across the village to enroll the people through Aadhaar linked bank accounts to enable them to make payments digitally instead of cash.

Further the bank has also conducted various educational initiatives in the village to ensure people got more aware of the various channels of digital payments.

MARATHI FILM ‘CYCLE’ WINS ‘BEST FILM’ AWARD IN KOHLAPUR FILM FESTIVAL…
Marathi film ‘Cycle’ won three awards, including the Best Film, in fifth Kolhapur International Film Festival (KIFF), which concluded here today.

The film, produced by Happy Mind Entertainment Private Ltd, also won awards for Best Director (Prakash Kunte) and Best Script Writer (Aditi Moghe) as viewers choice in ‘My Marathi’ section.
District collector Dr Amit Saini gave away awards in a glittering function held at Shahu Smarak Bhavan in historical Dasara Chowk this evening.

Earlier, veteran producer-director Kiran Shantaram felicitated renowned make-up artist Vikram Gaikwad with ‘Chitra Maharashee Anandrao Painter Memorial’ award for his contribution to Hindi and Marathi films.

Renowned Malayalam film director Shaji Karun was already felicitated with ‘Kala Maharshee Baburao Painter Memorial’ award during the eight-day-long Festival.

MARUTI SUZUKI VITARA BREZZA WINS BEST SUB-COMPACT SUV OF 2016 AT INDIA.COM AUTO AWARDS

Indo-Japanese car maker, Maruti Suzuki, launched the Maruti Vitara Brezza in India in March 2016 to take the competition away from the Ford EcoSport and the Mahindra TUV300.

Recently, the Vitara Brezza won the prestigious Indian Car Of The Year (ICOTY) 2016 Award. Adding another feather to its honour, the Maruti Suzuki Vitara Brezza has now won the best sub-compact SUV of 2016 at the India.com Auto Awards.

HIGIO ARUNI CONFERRED KCG AWARD 2016

Renowned social activist and educationist Higio Aruni was conferred the Krishna Chandra Gandhi Award 2016 in recognition of her women welfare activities and contribution in social and education sectors.

Chief Minister Pema Khandu handed over the Award to Higio Aruni in an award giving ceremony at Banquet Hall here in presence of large number of dignitaries.

Instituted by the Purvottar Janajati Shiksha Samiti (PJSS) in 2007, the Krishna Chandra Gandhi award is being conferred every year to eminent persons for their remarkable contributions in social and educational sectors in the North Eastern region.

Speaking on the occasion, CM Pema Khandu appealed all, especially senior leaders, thinkers, bureaucrats and academicians to come together to evolve a sustainable policy to harness the enormous resources of the state.