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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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IIFL Holdings allots equity shares
Nov 18,2016

IIFL Holdings announced that the Nomination and Remuneration Committee of the Board of Directors of the Company by way of circular resolution(s) allotted 3,55,000 equity shares to the employees of the Company/ Subsidiaries upon exercise of stock options under Employee Stock Option Schemes.

Upon allotment, the equity base of the Company stand increased from equity shares 31,70,95,854 to 31,74,50,854 equity shares of Rs. 2/- each.

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Board of Karuturi Global to consider September quarter results
Nov 18,2016

Karuturi Global announced that the Meeting of the Board of Directors of the Company will be held on 24 November 2016, inter alia, to consider the following transactions:

- To take on record and approve the Un-Audited financial results of the Company for the quarter ended 30 September 2016.

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Reliance Industries in focus after signing global partnership agreement with GE for industrial IOT
Nov 18,2016

Reliance Industries (RIL) announced the signing of a global partnership agreement in the Industrial IOT (IIOT) space whereby RIL and GE will work together to build out joint applications on GEs Predix platform. The partnership marks the coming together of two of the worlds largest industrial conglomerates to provide Industrial IOT solutions to customers in oil & gas, fertilizer, power, healthcare, telecom and other industries. The announcement was made after market hours yesterday, 17 November 2016.

GE will provide its Predix cloud offering, Industrial Internet applications and data science expertise. RIL will develop solutions on Predix as an Independent Software Vendor (ISV), bringing to bear its over 30 years of data, process and operational expertise. RIL will also offer nationwide connectivity infrastructure to customers through a 4G network powered by Jio. GE would offer the security, availability and monitoring aspects of the platform to RIL and its customers. The potential for other revenue streams includes telecom, healthcare and agriculture.

Power Grid Corporation of India (PGCIL) will be in focus. Piyush Goyal, Minister of State (IC) for Power, Coal, New & Renewable Energy and Mines, in a written reply to a question in Lok Sabha yesterday, 17 November 2016 said that PGCIL has sought a loan assistance of $1,000 million from the Asian Development Bank (ADB) comprising of Sovereign guaranteed loan of $500 million and Non-Sovereign loan of $500 million. The Minister further informed that the loan would be utilized for funding of the transmission projects including a project under Green Energy Corridor projects in next 3-4 years.

Vedanta said that it proposes to offer rated secured redeemable non-convertible debentures aggregating to Rs 300 crore. In this regard, the company will hold a meeting of its duly constituted committee of the board on 22 November 2016. The announcement was made after market hours yesterday, 17 November 2016.

Canara Bank said it has revised deposit interest rates in different maturities in retail and bulk deposits in the range of 5 basis points (bps) to 25 bps and these are effective from 21 November 2016. The announcement was made after market hours yesterday, 17 November 2016.

Petronet LNGs net profit surged 81.72% to Rs 459.56 crore on 11.57% fall in total income to Rs 6705.88 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 17 November 2016.

Astral Poly Techniks consolidated net profit rose 43.94% to Rs 30.30 crore on 10.62% rise in total income to Rs 439.52 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 17 November 2016.

Punj Lloyd said that its wholly-owned subsidiary, Punj Lloyd Infrastructure (PLIL), has executed definitive agreements with India Power Green Utility (IPGUPL) to co-develop 30 megawatts (MW) of solar assets in Uttarakhand, in respect of three solar power projects, each of 10 MW capacity won by PLIL under the tariff based competitive bidding process in October 2015 to be executed by its wholly owned subsidiaries (WOS) viz. PL Surya Vidyut, PL Sunrays Power, and PL Solar Renewable. The announcement was made after market hours yesterday, 17 November 2016.

As per the transaction, PLIL will divest 49% of its shareholding in its three subsidiaries viz. PL Surya Vidyut, PL Sunrays Power and PL Solar Renewable. The SPVs have signed 25 years power purchase agreements with Uttarakhand Power Corporation. The company shall be responsible for the entire engineering, procurement and commissioning of the above projects. The transaction is expected to be completed once customary closing conditions and approvals are obtained. Greenstone Energy Advisors is acting as the exclusive financial advisor to PLIL for the transaction.

IIFL Holdings said that its Non-Banking Financial Company (NBFC) subsidiary, India Infoline Finance (IIFL), proposes to acquire the management and control of Bangalore-based Samasta Microfinance (Samasta), an NBFC - Micro Finance Institution (NBFC-MFI) registered with the Reserve Bank of India (RBI), through acquisition of upto 100% equity shares of Samasta subject to completion of necessary due diligence, regulatory and other internal approvals. Pursuant to this, IIFL, Samasta and the promoters of Samasta will enter into necessary agreements and documents to effect sale and purchase shares of Samasta in due course upon completion of due diligence, internal approvals and regulatory process.

Samasta promoted by Narayanswamy Venkatesh and Deviah Shivaprasad, first generation entrepreneurs, began operations as an MFI in March 2008 and operates in Tamil Nadu, Karnataka, Maharashtra and Goa through 64 branches. It currently has an AUM of about Rs 100 crore as on 30 September 2016. The proposed acquisition of Samasta will help IIFL to enter into micro finance segment and extend its wide ranging financial services to their large customer base. The announcement was made after market hours yesterday, 17 November 2016.

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Board of Cadila Healthcare approves scheme of arrangement
Nov 17,2016

Cadila Healthcare announced that the Board of Directors of Cadila Healthcare (Company) at its meeting held on 17 November 2016, has considered and approved the Scheme of Arrangement between Cadila Healthcare and Zydus Healthcare and their respective shareholders and creditors [Scheme] under sections 391 to 394 of the Companies Act, 1956. Zydus Healthcare is a wholly owned subsidiary of the Company. As per the Scheme, India Human Formulations Undertaking of the Company will be transferred to Zydus Healthcare on a Slump Sale [Section 2(42C) of the Income-tax Act, 1961] basis for lump-sum cash consideration.

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Tata Teleservices (Maharashtra) applies for migration of its UAS licenses to Unified Licence
Nov 17,2016

Tata Teleservices (Maharashtra) has two Unified Access Service (UAS) licences for Mumbai and Maharashtra Service Area and these are expiring in September 2017. As per the Guidelines announced by DoT, the UAS licensing regime has been replaced with an umbrella license called Unified Licence (UL).

In view of the above, the Company has applied for migration of its UAS licences in Mumbai and Maharastra and ISP license to UL. The said UL is valid for 20 years effective 02 November 2016. There is no change in the validity of spectrum currently held by the Company as the spectrum has been delinked from UL.

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Sujana Universal Industries shifts registered office
Nov 17,2016

Sujana Universal Industries announced that in terms of Section 12(4) of Companies Act, 2013 Read with rule 27 of the Companies (Incorporation) Rules, 2014 and pursuant to the resolution passed by Management Committee of Board of Directors, the Registered Office of the Company has been shifted from H. No. 8-2-248/1/7/18, Plot No.18, Nagarjuna Hills, Punjagutta, Hyderabad - 500 082, Telangana to H.No: 5/ A, Vengal Rao Nagar, Hyderabad - 500 038, Telangana.

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Pratibha Industries bags contract for water treatment plant
Nov 17,2016

Pratibha Industries has been awarded contract by Melamchi Water Supply Development Board of Government of Nepal for capacity expansion of water treatment plant at Sundarijal for a total contract value of Nepali Rs 155 crore, equivalent to approximately, Rs 97.8 crore. The Company will implement the project through joint venture formed with local construction company within two years as per the contract terms.

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Career Point acquires 40% stake in its subsidiary - Gyan Eduventure
Nov 17,2016

Career Point has acquired 1,68,000 fully paid up equity shares (40%) of Rs. 10 each of Gyan Eduventure, the subsidiary of the Company and consequently, Gyan Eduventure has now become a wholly owned subsidiary of the Company.

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Launch of online portal for facilitating trade between India and Iran
Nov 17,2016

An Online Portal for facilitating trade between India and Iran was launched by Dr. Inder Jit Singh, Additional Secretary, Department of Commerce in the presence of H.E. Mr. Gholamreza Ansari, Ambassador of Islamic Republic of Iran, Mr. Khaleel Rahim, CMD, STC, and other Directors of STC. The Hind-Iran portal (hindirantrade.org) is a joint initiative of STC and Douman Queshm, Iran. The objective of the trade portal is to disseminate information relevant to Indo-Iran Trade, and to provide an e-marketplace for the buyers and sellers of the two countries.

Addressing the gathering at the event, Mr. Khaleel Rahim said that Iran and India have enjoyed deep social, cultural, economic and political connections and relations that have enriched both countries. The two countries have grown closer in the turbulent times at the peak of the economic sanctions against Iran, when it was India which emerged as a valuable trading partner of Iran. The portal is aimed at bridging the communication divide which the business communities face, and which are very interested in trading with each other. Mr. Gholamreza Ansari also acknowledged India as a friend who stood by Iran in tough times, and supported this initiative.

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Reliance Communications incorporates new subsidairy - Towercom Infrastructure
Nov 17,2016

Reliance Communications has incorporated a new subsidiary - Towercom Infrastructure on 17 November 2016 having registered office in Mumbai.

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Reliance Communications incorporates new subsidairy - Towercom Infrastructure
Nov 17,2016

Reliance Communications has incorporated a new subsidiary - Towercom Infrastructure on 17 November 2016 having registered office in Mumbai.

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Approval for Flexibility in use of Domestic Coal
Nov 17,2016

The Government has approved a proposal to create flexibility in the use of domestic coal.

Further, the Minister informed that the Cabinet, on 4th May, 2016, approved the proposal of the Ministry of Power for flexibility in utilization of domestic coal for reducing the cost of power generation.

As per the policy, the Annual Contracted Quantity (ACQ) of each individual coal linkage (as per respective Fuel Supply Agreements) are to be aggregated as consolidated ACQ for each State or the company owning the Central Generating Stations (CGS). For such consolidated ACQ, a Supplementary agreement shall be signed for each State/Company owning the CGS.

The mechanism envisages to reduce the cost of power generation by using coal in an optimal manner depending upon the efficiency of the generating stations. Central/State generating companies may utilize coal in its own generating stations by considering various factors such as operational efficiency of the generating stations, transportation logistics/ feasibility depending upon location of generating stations, fixed variable charges including transportation cost, relative merit order dispatch of power etc.

There shall be a flexibility, in the revised arrangement, for use of such coal amongst the generating stations of the state owned utilities, plants of other state power utilities, company owing the Central Generating Stations and Independent Power Producers, amongst each other as per the methodology issued by CEA.

A methodology for implementing the above proposal has been prepared by a committee consisting of the members from Ministries of Power, Coal and Railways, CERC, NTPC, CIL, POSOCO in consultation with the stakeholders. This methodology has been issued on 8th June, 2016.

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Globe Industrial Resources reports standalone net profit of Rs 0.01 crore in the September 2016 quarter
Nov 17,2016

Net profit of Globe Industrial Resources remain constant at Rs 0.01 crore in the quarter ended September 2016 and also during the previous quarter ended September 2015. Sales remain constant at Rs 0.07 crore in the quarter ended September 2016 and also during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales0.070.07 0 OPM %14.2914.29 - PBDT0.010.01 0 PBT0.010.01 0 NP0.010.01 0

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Real Growth Commercial Enterprises standalone net profit rises 881.82% in the September 2016 quarter
Nov 17,2016

Net profit of Real Growth Commercial Enterprises rose 881.82% to Rs 1.08 crore in the quarter ended September 2016 as against Rs 0.11 crore during the previous quarter ended September 2015. Sales rose 192.39% to Rs 102.57 crore in the quarter ended September 2016 as against Rs 35.08 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales102.5735.08 192 OPM %2.732.62 - PBDT1.620.20 710 PBT1.620.17 853 NP1.080.11 882

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R R Securities reports standalone nil net profit/loss in the September 2016 quarter
Nov 17,2016

R R Securities reported no net profit/loss in the quarter ended September 2016 and during the previous quarter ended September 2015. There were no Sales reported in the quarter ended September 2016 and during the previous quarter ended September 2015.

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