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Jindal Drilling & Industries standalone net profit declines 3.66% in the June 2016 quarter

Jindal Drilling & Industries standalone net profit declines 3.66% in the June 2016 quarter

Sep 14,2016

Net profit of Jindal Drilling & Industries declined 3.66% to Rs 9.48 crore in the quarter ended June 2016 as against Rs 9.84 crore during the previous quarter ended June 2015. Sales rose 11.24% to Rs 92.66 crore in the quarter ended June 2016 as against Rs 83.30 crore during the previous quarter ended June 2015.

ParticularsQuarter Ended
n++Jun. 2016Jun. 2015% Var.
Sales92.6683.3011
OPM %9.8912.74-
PBDT14.5518.68-22
PBT12.0915.01-19
NP9.489.84-4

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Sudal Industries to expand production capacity at Nashik
Mar 30,2017

Sudal Industries is planning to expand its production capacity at its existing unit located at Nashik and is also planning to setup a unit in Nardana, Dhule worth Rs. 250 crore.

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JM Financial provides update on subsidiary - JM Financial Investment Managers
Mar 30,2017

JM Financial announced that its subsidiary, JM Financial Investment Managers has executed the share purchase agreement to acquire equity shares of Spandana Sphoorty Financial (Spandana) through a secondary purchase in two tranches representing 16.26% of its current outstanding total equity shares. On a fully diluted basis, the said acquisition would result in the holding of 6.41% in Spandana post the preferential issue and exercise of the warrants/ESOPs by the promoters/employees of Spandana as per the other agreements executed by Spandana.

Spandana is engaged in the business of microfinance providing small ticket unsecured loans largely to women of low income households in rural and urban areas, with average loan tenure of one to two years.

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Govt asks industry to work for July 1 roll out of GST: Finance Secretary Mr Ashok Lavasa
Mar 30,2017

India Inc should work for the July 1 roll out of the Goods and Services Tax , which would take the country into very exciting phase of tax administration, Finance Secretary Mr Ashok Lavasa said at an ASSOCHAM Managing Committee meeting.

Mr Lavasa said We should all work towards July 1, if it gets achieved. He said along with the government, the industry should organise training sessions for the trade and industry for the roll out of the new tax reforms.

The Chamber President Mr Sandeep Jajodia informed the Finance Secretary that the ASSOCHAM has already held over 55 conferences in different parts of the country on GST.

Dwelling on a host of issues, the Finance Secretary also allayed concerns that the fear of vigilance probes is coming in the way of the banks resolving the problem of the non-performing assets (NPAs). The honest bank officers have nothing to worry about and the existing laws provide them ample scope for finding a way out of the bad debt problem, Mr. Lavasa.

n++I dont know whether there can be a law which can make people fearless. If you take honest decisions you dont have to fear three n++s or 10 n++, Mr Lavasa said in response to concerns from the industry leaders that senior bankers are not willing to show courage in reaching settlements with the troubled units as they have a lurking fear of Central Vigilance Commission, CBI or CAG .

The Finance Secretary said If you take honest decisions you dont have to fear. Financing documents and rules of the game provide scope to sit with the banks in the interest of investment.

He said efforts are on to save projects which have run into rough weather because of events beyond control of individuals or industries. The problem of the NPAs of the banks is restricted to a few sectors but it has to be resolved.

The Finance Secretary said the focus of the government is to efficiently spend increased outlays on public and infrastructure projects , including MNREGA which is run with greater efficiency or Direct Benefit Transfer (DBT) schemes. As much as Rs 34,000 crore has been saved so far by implementing DBT in 78 schemes. Things like Aadhar seeding and inter-linkage of different schemes has helped plug the pilferages and bogus claimants.

The ASSOCHAM President said there was a need for expeditious capital spending on public sector and infrastructure projects including roads, highways and railways.

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Dishman Pharma snaps two-day 30% rally
Mar 30,2017

Meanwhile, the S&P BSE Sensex was up 33.55 points or 0.11% at 29,564.98.

On the BSE, 4.74 lakh shares were traded on the counter so far as against the average daily volumes of 2.41 lakh shares in the past one quarter. The stock had hit a high of Rs 309.40 and a low of Rs 293.10 so far during the day. It had hit a record high of Rs 321.50 on 29 March 2017 and a 52-week low of Rs 127.60 on 24 June 2016.

The mid-cap company has equity capital of Rs 32.28 crore. Face value per share is Rs 2.

Shares of Dishman Pharmaceuticals & Chemicals (Dishman Pharma) had rallied 30.04% in the preceding two trading sessions to settle at Rs 301.50 yesterday, 29 March 2017, from its close of Rs 231.85 on 27 March 2017. The rally in the stock materialized on media reports that the company has received approval from the US Food and Drug Administration (USFDA) for cancer drug Zejula Capsules.

Dish Pharma, in a clarification issued to the stock exchanges during market hours on 28 March 2017, said that the company is bound by strict confidentiality agreements with its customers and will not have any prior knowledge of the stage of development of the customers end product.

Dish Pharma further added that since it does not manufacture the innovators end product in contract research and manufacturing services (CRAMS) segment, it is Tesaro Inc., which has received the USFDA approval for cancer drug Zejula Capsules and not Dishman Pharma as mentioned in media reports.

Dishman Pharmaceuticals & Chemicals consolidated net profit rose 13.2% to Rs 50.68 crore on 7.6% decrease in net sales to Rs 356.47 crore in Q3 December 2016 over Q3 December 2015.

Dishman Pharmaceuticals & Chemicals acts as a full fledged CRAMS (contract research and manufacturing services) partner for global pharma innovators. It also makes phase transfer catalysts, Vitamin D, Vitamin D analogues, cholesterol, laolin related products, antiseptic and disinfectant formulations for pharmaceutical, cosmetic and related markets. The company also makes generic active pharmaceutical ingredients (API) and intermediates for the pharmaceutical industries.

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Board of Oracle Financial Services Software recommends dividend
Mar 30,2017

Oracle Financial Services Software announced that the Board of Directors of the Company at its meeting held on 29 March 2017, inter alia, have recommended the dividend of Rs 170 per equity Share (i.e. 3400%) , subject to the approval of the shareholders.

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Richa Industries to hold board meeting
Mar 30,2017

Richa Industries will hold a meeting of the Board of Directors of the Company on 1 April 2017.

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Aurionpro Solutions partners with Goodpack IBC (Singapore)
Mar 30,2017

Aurionpro Solutions announced that its end-to-end freight and warehouse management solution - SCMProFit has been selected by Goodpack IBC (Singapore), engaged in steel intermediate bulk containers. SCMProFit will be deployed to transform the returnable packaging operations management.

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Dilip Buildcon builds gains after winning road projects
Mar 30,2017

The announcement was made before market hours today, 30 March 2017.

Meanwhile, the S&P Sensex was up 84.06 points, or 0.28% at 29,615.49. The S&P BSE Mid-Cap index was up 70.33 points, or 0.5% at 14,000.93.

On the BSE, 10,000 shares were traded on the counter so far as against the average daily volumes of 37,187 shares in the past one quarter. The stock had hit a high of Rs 351.35 and a low of Rs 346 so far during the day.

The stock had hit a record high of Rs 365.15 on 21 March 2017 and a record low of Rs 178.60 on 9 November 2016. The stock had outperformed the market over the past one month till 29 March 2017, advancing 11.6% compared with the Sensexs 2.74% rise. The scrip had also outperformed the market over the past one quarter advancing 52.8% as against the Sensexs 12.01% rise.

The mid-cap company has equity capital of Rs 136.77 crore. Face value per share is Rs 10.

Dilip Buildcon received letter of award from the National Highways Authority of India (NHAI) for three projects in a single stretch in Maharashtra. First project is for four laning of Mahagaon to Yavatmal section under NHDP Phase IV on Hybrid Annuity mode at a project cost of Rs 1160.64 crore. The second project is for four laning of Yavatmal to Wardha section under NHDP Phase IV on Hybrid Annuity Mode at a project cost of Rs 1043.28 crore. The third project is for four laning of Wardha-Butibori Section on Hybrid Annuity Mode at a project cost of Rs 1065.51 crore. The completion period for all projects is 30 months.

Dilip Buildcons net profit jumped 151.7% to Rs 108.64 crore on 41.9% rise in net sales to Rs 1388.43 crore in Q3 December 2016 over Q3 December 2015.

Dilip Buildcon is a road-focused engineering procurement construction (EPC) contractor. The company develops infrastructure across the country in diverse areas such as roads & bridges, water sanitation & sewage, irrigation, industrial, commercial & residential buildings.

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Albert David announces change in registered office
Mar 30,2017

Albert David announced that the Registered/Head Office of the Company is being shifted from 15, Chittaranjan Avenue, Kolkata-700072 to D Block, 3rd Floor, Gillander House, Netaji Subhas Road, Kolkata - 700001, Tel : 033-2230-2330 with effect from 1 April 2017.

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Navneet Education hits record high
Mar 30,2017

Meanwhile, the S&P BSE Sensex was up 82.30 points or 0.28% at 29,613.73.

On the BSE, 3.54 lakh shares were traded on the counter so far as against the average daily volumes of 47,129 shares in the past one quarter. The stock had hit a high of Rs 174.70 so far during the day, which is a record high. The stock hit a low of Rs 164.15 so far during the day. It had hit a 52-week low of Rs 80.50 on 29 March 2016.

The mid-cap company has equity capital of Rs 47.64 crore. Face value per share is Rs 2.

The target price of Rs 210 gives an upside of 37.16% over the stocks closing price of Rs 153.10 yesterday, 29 March 2017.

According to reports, the brokerage believes that Navneet Education is well poised to gain market share in the growing CBSE market. Change of syllabus provides strong growth triggers over two years.

In terms of market positioning, it feels that Navneet dominates the market for supplementary educational material and this domineering position makes it a key beneficiary, reports suggested.

Navneet Educations net profit rose 67.9% to Rs 12.64 crore on 38.6% growth in net sales to Rs 156.56 crore in Q3 December 2016 over Q3 December 2015.

Navneet Education, formerly known as Navneet Publications (India), is in the business of educational, children and general books publication, scholastic paper and non-paper stationery products.

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L&T Construction secures new orders
Mar 30,2017

The construction arm of Larsen & Toubro has recently won orders worth Rs 1725 crore across two of its business segments -

Transportation Infrastructure Business - Rs 725 crore
Heavy Civil Infrastructure Business - Rs 1000 crore

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Bharat Heavy Electricals commissions 2nd 800 MW super critical thermal unit
Mar 30,2017

Bharat Heavy Electricals has commissioned a coal based super critical thermal unit of 800 MW in Karnataka. This is the 2nd unit of the 2x800 MW Yeramarus Thermal Power Station located in Raichur district of Karnataka. The first unit of this power plant was commissioned earlier by BHEL in March 2016.

The Yeramarus project has been developed by Raichur Power Corporation, a joint venture with equity participation from Karnataka Power Corporation and BHEL.

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Outcome of board meeting of Coffee Day Enterprises
Mar 30,2017

The Board of Directors of Coffee Day Enterprises at its meeting held on 30 March 2017 has inter-alia approved draft disclosure documents for issue of rated, unlisted, secured, redeemable, non-convertible debentures of Rs 150 crore on private placement basis. The above mentioned issue of NCDs is for the purpose of replacing the existing debt.

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Deep Industries scales record high after large bulk deal
Mar 30,2017

Meanwhile, the S&P BSE Sensex was up 74.59 points or 0.25% at 29,606.02

On the BSE, 22.09 lakh shares were traded on the counter so far as against the average daily volumes of 41,653 shares in the past one quarter. The stock hit a high of Rs 343.70 in intraday trade so far, which is record high for the counter. The stock hit a low of Rs 323.05 so far during the day. The stock had hit a 52-week low of Rs 135.10 on 29 March 2016.

The small-cap company has equity capital of Rs 32 crore. Face value per share is Rs 10.

Deep Industries net profit rose 32.76% to Rs 17.71 crore on 33.97% growth in net sales to Rs 70.59 crore in Q3 December 2016 over Q3 December 2015.

Deep Industries is engaged in business of oil and gas services, exploration and production.

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Bharat Finance gains after completing securitization transaction
Mar 30,2017

The announcement was made after market hours yesterday, 29 March 2017.

Meanwhile, the S&P BSE Sensex was up 86.17 points or 0.29% at 29,617.60.

On the BSE, 2.48 lakh shares were traded on the counter so far as against the average daily volumes of 5.39 lakh shares in the past one quarter. The stock had hit a high of Rs 827.30 and a low of Rs 807.25 so far during the day. It had hit a 52-week high of Rs 938.75 on 29 July 2016 and a 52-week low of Rs 465.40 on 27 December 2016.

The large-cap company has equity capital of Rs 137.98 crore. Face value per share is Rs 10.

With the completion of the latest securitization transaction, the company has completed four securitization transactions aggregating to Rs 1075.86 crore in FY17. The entire pool qualifies for Priority Sector treatment as per the Reserve Bank of Indias Priority Sector lending guidelines.

The pool has been rated AA (SO) by a leading rating agency, signifying a high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk.

Bharat Financial Inclusions net profit rose 79.6% to Rs 142.82 crore on 32.4% growth in total income to Rs 454.87 crore in Q3 December 2016 over Q3 December 2015.

Bharat Financial Inclusion is among the largest microfinance companies in India with presence across 18 states covering 1 lakh villages.

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