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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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ASSOCHAM and Videocon Gear Up for GST, launch Awareness Drive for consumer electronic traders
Jun 02,2017

In a view to generate awareness and educate retail partners around GST implications, ASSOCHAM and the leading Consumer Electronics and Home Appliances Company, Videocon, organized the first-of-its-kind GST Summit today for Traders. The daylong ASSOCHAM VIDEOCON GST Summit for traders witnessed deep discussions around GST, addressing retailers queries, and offering them a clearer understanding of the GST concept.

ASSOCHAM has taken a step towards imparting knowledge on immediate as well as far reaching impact of GST on the businesses through the ASSOCHAM Videocon GST Summit. Emerging as the fountainhead of Knowledge for Indian industry, ASSOCHAM has always worked towards creating a conducive environment for India business to compete globally.

In its next meeting on June 3, the goods and services tax (GST) Council will fix rates for certain items that could not be decided upon at its meeting in Srinagar, Union Minister of State for Finance, Mr Arjun Ram Meghwal.

n++We have also received representations from some sectors including textile for which the rates had been fixed, we will discuss it in the next GST Council meeting,n++ said Mr Meghwal.

n++In textile sector, garment manufacturers and cloth manufacturers want different rates, we will discuss these issues on June 3,n++ he said.

He also said that FinMin has advised the trade and industry bodies along with its three technical institutes viz., Institute of Chartered Accountants of India (ICAI), Institute of Company Secretaries of India (ICSI) and Institute of Cost Accountants of India (ICAI) to organise awareness campaigns as GST is likely to be rolled out from July 1.

He said that so far whatever decisions have been taken by the GST Council are not based on majority but on the basis of consensus among all state finance ministers.

The Union Minister said that GST will help bring down logistics cost and that would perhaps be the biggest benefit of this game-changing reform.

n++Recently an international conference on logistics charges was organised by Union Minister Nitin Gadkari whereby we observed that logistics charges in developed countries like Canada, US, France, Germany and others is a meagre eight per cent whereas in India it is about 13.5 per cent,n++ said Mr Meghwal.

n++We include transportation and warehouse charges in logistics charges, GST will bring down logistics costs massively and bring us at par with the developed nations,n++ he added.

n++We live in WTO-era, when there is such a difference in costs for the same product it does not provide India a level playing field as such implementation of GST is a must,n++ further said Mr Meghwal.

Highlighting certain other possible benefits of GST, the Union Minister said that GST would undoubtedly lead to ease of doing business, besides it will also simplify filling returns, widen tax net, reduce human interface and curb corruption.

n++For years together we have lived as a society which believed in tax evasion but now we have to be prepared for this slight change and help India rise up to paying taxes,n++ he said.

He also said that 2017 will be remembered as a year of unprecedented economic reforms.

On the low GDP (gross domestic product) numbers in the quarter to March, to 6.1 percent, Mr Meghwal termed it a temporary phase, and said that there is no need to fear as the countrys economy is growing rapidly.

Speaking about the initiative, Shri. R.N Dhoot, Member of Parliament said, n++Announcement of GST in the country has been a revolutionary step. Not only will it lead to lower tax burden on several commodities, but will also bring ease of doing businesses in the country. I congratulate ASSOCHAM and Videocon to take this initiative and address retailer queries related to implementation of GST.n++

Commenting on the occasion Mr. Sandeep Jajodia, President ASSOCHAM, said, n++Its a nationwide observation that in general, the trade (mostly MSMEs) are not in line with knowledge with GST. Therefore, ASSOCHAM & Videocon have embarked upon the process of training and awareness of GST in a big way, which will be of paramount importance in the smooth roll-out of GST. As the contours of GST law are more or less known, the purpose of such programs is to sensitize the trade across India to make them aware of the salient features of GST.n++

Videocon has been delighting customers and trade partners with its wide array of quality product offerings for over 3 decades. Being a responsible corporate, Videocon is committed to serve the industry and all its stakeholders passionately. Understanding the industry ambiguities with regards to GST, Videocon organized the GST summit with ASSOCHAM to ensure that all members of the industry move positively at a pace which is in line with the nationwide rollout of Indias greatest tax reforms.

Speaking about the initiative, Mr. C. M Singh, COO Videocon, said, n++We are extremely happy to launch ASSOCHAM Videocon GST Summit which aims to bring the entire industry together on one platform. As the GST date inches closer, Videocon hopes to equip all its partners and make them GST ready. We plan to hold more than 200 of such seminars to raise GST awareness across the country. Videocon has always taken initiatives to ensure industry growth and welfare. Through these GST Summits, Videocon will try to ensure that all queries of consumer electronic traders with regards to GST implementation are resolved and they are GST ready. Videocon is happy to contribute in its small way in the smooth implementation of GST.n++

The ASSOCHAM Videocon GST Summit provided a freewheeling dialogue between experts from Videocon and ASSOCHAM, and Consumer Electronic retailers on GST. The session imparted knowledge on the fundamentals of GST and educated the retailers on the impact of GST on the consumer durables. With the inaugural event in New Delhi, the ASSOCHAM Videocon summit will go to 200 cities ahead of its nationwide rollout on July 1. The takeaways from the Delhi event will be utilized in other cities towards familiarizing the industry players on GST.

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Board of Adani Enterprises recommends final dividend
Jun 02,2017

Adani Enterprises announced that the Board of Directors of the Company at its meeting held on 24 May 2017, inter alia, have recommended the final dividend of Rs 0.4 per equity Share (i.e. 40%) , subject to the approval of the shareholders.

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Bengal & Assam Company to shift registered office
Jun 02,2017

Bengal & Assam Company announced that the Companys application for shifting of Registered Office from the NCT of Delhi to the State of West Bengal is sanctioned by the Regional Director, Northern Region, Ministry of Corporate Affairs and would be effective upon approval from the Registrar of Companies, Delhi and Kolkata.

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Cheviot Company fixes record date for buy back
Jun 02,2017

Cheviot Company has fixed 16 June 2017 as the Record Date for the purpose of Buy Back.

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HDFC builds up after acquiring stake in housing finance firm
Jun 02,2017

The announcement was made after market hours yesterday, 1 June 2017.

Meanwhile, the S&P BSE Sensex was up 117.27 points or 0.38% at 31,254.86.

On the BSE, 28,533 shares were traded on the counter so far as against the average daily volumes of 2.74 lakh shares in the past one quarter. The stock had hit a high of Rs 1,611.90 in intraday trade, which is also a record high for the stock. The stock had hit a low of Rs 1,582.75 so far during the day. The stock had hit a 52-week low of Rs 1,183 on 16 June 2016.

The stock gained 2.96% over the past one month till 1 June 2017, underperforming the Sensexs 4.08% rise. The scrip had, however, outperformed the market in past one quarter, rising 12.99% as against Sensexs 7.43% rise. The scrip had also outperformed the market in past one year, gaining 27.49% as against Sensexs 16.56% rise.

The large-cap company has equity capital of Rs 317.78 crore. Face value per share is Rs 2.

HDFC said that HDFC Investments, a wholly owned subsidiary of the company subscribed 3.27 crore shares or 15% of share capital of First Housing Finance (Tanzania), Tanzanias first housing finance company. Cost of acquisition is equivalent to $1.5 million.

First Housing Finance has not yet commenced its operations. The object of the transaction is to promote greenfield housing finance company in Tanzania as HDFC in the past participated in the development of nascent housing finance markets in Asia and Africa.

HDFC Investments has received prior approval from the Reserve Bank of India for the investment.

The shareholders of the company include three local shareholders and two international shareholders which includes HDFC Investments. Bank M Tanzania Plc, a local shareholder holds 40% and rest of the shareholders have 15% each in First Housing Finance.

HDFC will share its expertise in housing finance and will provide assistance and consultancy services in the areas of mortgage finance to First Housing Finance.

On a consolidated basis, HDFCs net profit fell 11% to Rs 3079.33 crore on 5.3% growth in total income to Rs 18040.59 crore in Q4 March 2017 over Q4 March 2016.

HDFC is Indias first retail housing finance company and is currently one of the largest originators of housing loans in the country.

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Indian Bank falls ex-dividend
Jun 02,2017

Meanwhile, the S&P Sensex was up 137.01 points or 0.44% at 31,274.60

On the BSE, 38,000 shares were traded on the counter so far as against the average daily volumes of 1.61 lakh shares in the past one quarter. The stock had hit a high of Rs 326 and a low of Rs 316.25 so far during the day. The stock had hit a 52-week high of Rs 364.80 on 16 May 2017 and a 52-week low of Rs 90 on 3 June 2016.

The stock fell 3.8% over the past one month till 1 June 2017, underperforming the Sensexs 4.08% rise. The scrip had, however, outperformed the market in past one quarter, rising 13.38% as against Sensexs 7.43% rise. The scrip had also outperformed the market in past one year, surging 251.11% as against Sensexs 16.56% rise.

The large-cap bank has equity capital of Rs 480.29 crore. Face value per share is Rs 10.

Before turning ex-dividend, the stock offered a dividend yield of 1.8% based on its closing price of Rs 332.85 on the BSE yesterday, 1 June 2017.

Net profit of Indian Bank rose 241.49% to Rs 319.70 crore on 1.75% growth in total income to Rs 4601.89 crore in Q4 March 2017 over Q4 March 2016.

Government of India currently holds 82.1% stake in Indian Bank (as on 31 March 2017).

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Board of Lumax Industries recommends Dividend
Jun 02,2017

Lumax Industries announced that the Board of Directors of the Company at its meeting held on 13 May 2017, inter alia, have recommended the final dividend of Rs 14.50 per quity share (i.e. 145%), subject to the approval of the shareholders.

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Capital First allots equity shares
Jun 02,2017

Capital First has allotted 2,18,055 equity shares of Rs. 10/- each fully paid up to the allottees upon exercise of stock options pursuant to the various CFL - Employee Stock Option Schemes. With the allotment of the above shares, the equity base of the Company stands increased from present level of 9,74,22,069 (Nos.) to 9,76,40,124 (Nos.) equity shares of Rs.10/- each.

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Bharat Petroleum Corporation fixes record date for bonus issue
Jun 02,2017

Bharat Petroleum Corporation has fixed 15th July 2017 as the record date for the purpose of Bonus Issue.

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Aurobindo Pharma fixes record date for second interim dividend
Jun 02,2017

Aurobindo Pharma has fixed 09th June 2017 as the record date for the purpose of payment of second interim dividend. The Interim Dividend will be paid on or before 21 June 2017.

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Simplex Infra crawls higher after robust Q4 results
Jun 02,2017

The result was announced after market hours yesterday, 1 June 2017.

Meanwhile, the S&P BSE Sensex was up 152.32 points or 0.49% at 31,289.91. The S&P BSE Small-Cap index was up 55.05 points or 0.36% at 15,289.29.

On the BSE, 1,859 shares were traded so far in the counter as against average daily volume of 7,967 shares in the past one quarter. The stock had hit a high of Rs 455.65 in intraday trade, which is also a 52-week high for the stock. The stock had hit a low of Rs 437.35 so far during the day. The stock had hit a 52-week low of Rs 260 on 27 December 2016.

The stock has gained 7.7% in three sessions to its ruling price of Rs 439 from a close of Rs 407.60 on 30 May 2017.

The stock gained 6.64% over the past one month till 1 June 2017, outperforming the Sensexs 4.08% rise. The scrip had outperformed the market in past one quarter, rising 43.57% as against Sensexs 7.43% rise. The scrip had also outperformed the market in past one year, gaining 55.84% as against Sensexs 16.56% rise.

The small-cap company has equity capital of Rs 9.89 crore. Face value per share is Rs 2.

Simplex Infrastructures board of directors recommended dividend of Re 0.50 per equity share for the year ended 31 March 2017 (FY 2017).

The year ended 31 March 2017 (FY 2017) saw a cumulative order inflow of Rs 8117 crore and ended with order book backlog of Rs 16518 crore in addition to lowest bidder (L1) of Rs 558 crore.

Simplex Infrastructures is the largest pure play civil construction & engineering contractors in India.

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Bajaj Auto slips after announcing poor monthly sales
Jun 02,2017

The announcement was made during market hours today, 2 June 2017.

Meanwhile, the S&P BSE Sensex was up 102.77 points or 0.33% at 31,240.36

On the BSE, 18,000 shares were traded on the counter so far as against the average daily volumes of 26,284 shares in the past one quarter. The stock had hit a high of Rs 2,831.05 and a low of Rs 2,772.20 so far during the day. The stock had hit a record high of Rs 3,122 on 9 September 2016 and a 52-week low of Rs 2,510 on 15 November 2016.

The stock fell 2.83% over the past one month till 1 June 2017, underperforming the Sensexs 4.08% rise. The scrip had also underperformed the market in past one quarter, rising 0.34% as against Sensexs 7.43% rise. The scrip had also underperformed the market in past one year, gaining 9.48% as against Sensexs 16.56% rise.

The large-cap company has equity capital of Rs 289.37 crore. Face value per share is Rs 10.

Bajaj Autos domestic sales fell 15% to 1.74 lakh units. Exports declined 3% to 1.39 lakh units.

Bajaj Auto consolidated net profit fell 13.44% to Rs 862.25 crore on 7.26% decline in total income to Rs 5252.38 crore in Q4 March 2017 over Q4 March 2016.

Bajaj Auto is one of the leading two-and three-wheeler manufacturers in India.

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Cadila Healthcare jumps after USFDA nod for product
Jun 02,2017

The announcement was made during market hours today, 2 June 2017.

Meanwhile, the S&P BSE Sensex was up 88.12 points or 0.28% at 31,231.70.

More than usual volumes were witnessed on the counter. On the BSE, 2.64 lakh shares were traded on the counter so far as against the average daily volumes of 1.2 lakh shares in the past one quarter. The stock had hit a high of Rs 504.80 in intraday trade, which is also a record high for the stock. The stock had hit a low of Rs 473.55 so far during the day.

The stock had hit 52-week low of Rs 305.05 on 24 June 2016. The stock gained 7.06% over the past one month till 1 June 2017, outperforming the Sensexs 4.08% rise. The scrip had, however, underperformed the market in past one quarter, rising 7.36% as against Sensexs 7.43% rise. The scrip had outperformed the market in past one year, gaining 41.17% as against Sensexs 16.56% rise.

The large-cap company has equity capital of Rs 102.37 crore. Face value per share is Rs 1.

Cadila Healthcare said that it has received final approval from the United States Food & Drug Administration (USFDA) to market Levofloxacin Injection, 500mg/20mL and 750 mg/30mL (25 mg/mL).

Levofloxacin is used in the treatment of bacterial infections and will be produced at the groups formulations manufacturing facility at Moraiya, Ahmedabad, Gujarat.

The approval marks the beginning of the approval process for filings made from the Moraiya manufacturing plant after successfully completing the USFDA audit from 6 to 15 February 2017 with zero 483 observations.

Cadila Healthcares consolidated net profit fell 32.2% to Rs 385.5 crore on 6.5% rise in net sales to Rs 2417.50 crore in Q4 March 2017 over Q4 March 2016.

Cadila Healthcare is a global pharmaceutical company that discovers, develops, manufactures and markets a broad range of healthcare therapies.

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Nishtha Finance and Investment (India) to hold board meeting
Jun 02,2017

Nishtha Finance and Investment (India) will hold a meeting of the Board of Directors of the Company on 05 June 2017, to consider proposal for shifting of Registered office of the Company from the State of Delhi to the State of Gujarat.

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Bajaj Finance allots Non-convertible Debentures
Jun 02,2017

The Debenture Allotment Committee of Bajaj Finance on 01st June 2017 has allotted 10,000 secured redeemable non-convertible debentures of face value of Rs 10 each on Private Placement basis.

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