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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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CII-Triveni Water Institute inks MoU with the Water Research Center, Tel Aviv University, on Improving Indian Water Scenario across States and Regions
Dec 26,2016

CII-Triveni Water Institute, CIIs Center of Excellence on Water and the Water Research Center, Tel Aviv University, Israel, entered into Memorandum of Understanding, during the 9th India-Israel Forum. The MoU was signed by Mr Chandrajit Banerjee, Director General, CII, and Prof Joseph Klafter, President, Tel Aviv University.

The MoU enhances cooperation of the two countries on planning, designing, and implementing new and innovative tools and technologies that improve management of water in India. It identifies opportunities and geographical areas where WRC-TAU and CII-TWI will pool expertise and derive workable, scalable solutions in the water sector in India, for the benefit of the community at large. This includes technology, management, policy reforms and advance tools and techniques.

It covers various sectors namely, irrigation, industry, domestic water use, wastewater management, municipal sewage recycle, improving water use efficiency, training and capacity building, and most importantly implementing of strategies in drought prone areas of India. CII-Triveni Water Institute and Water Research Center, TAU together will work towards improving the water scenario across several states and regions of India.

Prof Klafter, TAU, mentioned that learnings from Israel, customized and applied to water sector in India will further strengthen the bilateral ties between the two countries. Political will and scientific considerations will lead to successful applications. In situ treatment technologies will also have a key role to play on a decentralized basis.

Mr Nikhil Sawhney, Member, Advisory Board, CII-Triveni Water Institute, and Managing Director, Triveni Turbine, mentioned that models of Public Private Partnerships, Awareness Generation, Policy reforms and Pricing that were applied and helped convert a desert country like Israel into Water surplus country will be further studied for adoption in India. The MoU would help advancing these.

Mr Chandrajit Banerjee, Director General, CII, said that the MoU opens doors to new state-of-the-art techniques and technologies that will be customized and implemented. He mentioned that combination of Intelligent Policy, Advanced Technology, and Stakeholder Participation will certainly bring about the much desired change in the sector. CIIs WATSCAN, Water Scanning Tool, will be used and further strengthened for selection, and implementation of Water management strategies in the country.

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Panacea Biotec launches Tetravalent Vaccine Easyfour-TT
Dec 26,2016

Panacea Biotec announced the launch of Tetravalent Vaccine Easyfour-TT for active primary immunization and booster dose against diphtheria, tetanus and pertussis (DTP) and Haemophilus Influenza Type B(Hib).

Easyfour-TT, worlds first fully liquid Tetravalent vaccine launched in India, will protect infant from Diptheria, Tetanus, Whopping Cough and Hib-Meningitis.

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Welspun Enterprises gains after board approves divesting stake in Welspun Energy
Dec 26,2016

The announcement was made on Saturday, 24 December 2016.

Meanwhile, the BSE Sensex was down 230.23 points, or 0.88%, to 25,810.47.

On the BSE, so far 2.33 lakh shares were traded in the counter, compared with average daily volumes of 1.23 lakh shares in the past one quarter. The stock had hit a high of Rs 63.40 and a low of Rs 60.30 so far during the day.

The stock hit a 52-week high of Rs 75.30 on 3 November 2016. The stock hit a 52-week low of Rs 43 on 12 February 2016. The stock had outperformed the market over the past 30 days till 23 December 2016, rising 3.03% compared with the 0.70% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 7.47% as against Sensexs 9.17% decline.

The small-cap company has equity capital of Rs 174.28 crore. Face value per share is Rs 10.

Welspun Enterprises (WEL) announced that the board of directors of the company has approved sale of its entire investment of 6.04 crore equity shares, representing 15.49% stake, in the paid up equity share capital of Welspun Energy.

Post sale of its renewable business, WELs 15.49% minority stake in Welspun Energy does not contribute to the consolidated results of the company. In order to unlock value for the company, the board of WEL authorised the monetization of this stake, subject to shareholders approval.

As against its investment of Rs 91.10 crore, the stake is proposed to be sold to Welshop Trading, for a consideration of approximately Rs 290 crore plus contingent consideration, thereby implying more than three times returns to the company on its investment.

In addition to buying out WELs stake, Welshop Trading, part of Welspun Group, has agreed to buy out the stake of other shareholders in Welspun Energy at equivalent consideration.

Last week, Welspun Enterprises announced that it plans to buyback up to 25% of its share capital at Rs 62 per share. With a view of utilising the companys substantial cash reserves and in order to enhance shareholder value, the companys board approved buy back of 25% of the companys share capital. The buyback would be at Rs 62 per share in cash for an aggregate consideration not exceeding Rs 270 crore. The promoter group, except the foreign co-promoters holding 2.17%, have indicated their intention to participate in the proposed buyback. The announcement was made after market hours on Thursday, 22 December 2016.

Net profit of Welspun Enterprises rose 116.67% to Rs 2.86 crore on 16.9% rise in net sales to Rs 33.22 crore in Q2 September 2016 over Q2 September 2015.

Welspun Enterprises (WEL), formerly Welspun Projects, part of the Welspun Group, is an operating the company in the infrastructure business. The company also has investments in oil & gas exploration. The company, in its current form was created through the merger of Welspun Enterprises, Welspun Infratech, Welspun Plastics and Welspun Infra Projects with Welspun Projects through the scheme of amalgamation and arrangement made effective from 11 May 2015.

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Deepak Nitrite extends falling trend despite Reliance MFs buying
Dec 26,2016

Meanwhile, the S&P BSE Sensex was down 220.40 points or 0.85% at 25,820.30.

On the BSE, 1.10 lakh shares were traded on the counter so far as against the average daily volumes of 59,159 shares in the past one quarter. The stock had hit a high of Rs 87.25 and a low of Rs 75.80 so far during the day.

The stock had hit a record high of Rs 134.25 on 9 September 2016 and a 52-week low of Rs 56.10 on 12 February 2016. It had underperformed the market over the past one month till 23 December 2016, sliding 8.03% compared with the Sensexs 0.04% fall. The scrip had also underperformed the market in past one quarter, declining 30.06% as against the Sensexs 9.17% fall.

The small-cap company has equity capital of Rs 23.26 crore. Face value per share is Rs 2.

Shares of Deepak Nitrite tumbled 15.69% in seven straight trading sessions from its close of Rs 99.10 on 15 December 2016.

On Friday, 23 December 2016, Quest Investment Advisors sold 35.35 lakh shares of Deepak Nitrite at an average price of Rs 85.12 per share in bulk deals on the NSE. Reliance Mutual Fund-Reliance Small Cap Fund bought 35.73 lakh shares at Rs 85.06 a piece. Quest is an investment management services firm.

Deepak Nitrites net profit rose 4.3% to Rs 15.41 crore on 10.6% decline in net sales to Rs 299.07 crore in Q2 September 2016 over Q2 September 2015.

Deepak Nitrite is a multi-division and multi-product company. The companys portfolio is a wide spectrum of products with diverse applications ranging from agrochemicals, rubber, pharmaceuticals, paper, textile, detergent, colourants, petrochemicals to speciality and fine chemicals.

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Lupin receives tentative approval for Olmesartan Medoximil Tablets
Dec 26,2016

Lupin has received tentative approval for its Olmesartan Medoximil Tablets 5mg, 20mg and 40mg from the United States Food and Drug Administration to market generic version of Daiichi Sankyo Incs Benicarn++ Tablets 5mg, 20mg and 40mg.

Olmesartan Medoximil Tablets are indicated for the treatment of hypertension, along or with other antihypertensive agents to lower blood pressure.

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Board of Jainco Projects (India) to conduct business review
Dec 26,2016

Jainco Projects (India) announced that the meeting of Board of Directors of the Company will be held on 30 December 2016, for general discussion on the working of the company and to review the progress of the Company.

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Let FCI, other Govt bodies issue transferrable instruments to farmers to mitigate note ban distress: ASSOCHAM
Dec 26,2016

In order to mitigate the problems of farmers and those engaged in allied activities like poultry farming and horticulture, arising out of the demonetization, the ASSOCHAM has suggested issuance of Transferrable Receipts (TRs) by agencies like the Food Corporation of India (FCI), National Agricultural Cooperative Marketing Federation of India (NAFED) and other Central and state entities against procurement of the farm produce.

n++In the first place, the government should instruct FCI and other central agencies like NAFED to procure a whole lot of farm produce and issue the farmers/growers TRs which should be then honoured at all the farm related stores. These TRs can become some kind of Paytm tools and be then aggregated by one nodal agency; preferably FCI,n++ the ASSOCHAM said.

It said with the help of the state governments, the TRs should be allowed to trade without much hassles, maybe upto a limit of Rs 50,000. Since these instruments are to be originated at the FCI level, it would be easy for the Central Government to guard against its misuse for exchange of scrapped money. In any case, most of the scrapped notes have returned into the banking system and now the problem largely relates to shortage of new currency.

n++Likewise, the TRs can also be issued by some agencies like Tea Board, Fisheries boards, Jute Boards and Rubber Boards and then some of the retail chains can be roped in for honouring the same. It would also work on the model of Sodexo lunch coupons n++, said ASSOCHAM Secretary General Mr D S Rawat.

He said with most of the products being decanlised , even state owned companies like the State Trading Corporation should join the FCI in this operation, while the MMTC which had remained engaged in fertilizer imports can be useful in reaching out to farmers directly or through cooperative stores for supply of urea or other nutrients in exchange of the TRs.

n++We urge the Prime Ministers Office, the Agriculture Ministry, the Finance Ministry, Commerce Ministry and the Reserve Bank of India to work on this model in a matter of few days, along with the state agencies,n++ the chamber said.

It said some of the marginal farmers and growers of horticulture produce are facing the problem of selling their produce with the unscrupulous elements taking advantage of the situation. n++Extra ordinary situation demands extra-ordinary solutions; so this model of TRs should be tried so that the farm distress is mitigated and wide support is forthcoming for the bigger war against black money and corruptionn++, Mr Rawat said.

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Camlin Fine Sciences gains on acquisition plan
Dec 26,2016

The announcement was made after market hours on Friday, 23 December 2016.

Meanwhile, the BSE Sensex was down 209.30 points, or 0.80%, to 25,831.40.

On the BSE, so far 66,000 shares were traded in the counter, compared with average daily volumes of 2.10 lakh shares in the past one quarter. The stock had hit a high of Rs 103.10 and a low of Rs 98.95 so far during the day.

The stock hit a 52-week high of Rs 119.60 on 26 October 2016. The stock hit a 52-week low of Rs 76.10 on 29 February 2016. The stock had underperformed the market over the past 30 days till 23 December 2016, falling 5.85% compared with the 0.70% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 14.27% as against Sensexs 9.17% decline.

The small-cap company has equity capital of Rs 10.33 crore. Face value per share is Re 1.

Camlin Fine Sciences said it entered into share purchase agreement to acquire 51% stake in Chinas Ningbo Wanglong Flavors & Fragrances Company (NWFFCL). The cost of proposed acquisition will be disclosed after the completion of the transaction, it added. The acquisition is subject to Reserve Bank of Indias (RBI) approval and will get completed on or before 30 June 2017.

NWFFCL was incorporated on 20 November 2015 and is a part of proposed joint venture with Wanglong Group Company. Ningbo is engaged in research, development and manufacture of flavours and fragrances products (Vanillin); import and export of goods and technologies.

On a consolidated basis, Camlin Fine Sciences reported net loss of Rs 0.80 crore in Q2 September 2016 as against net profit of Rs 5.06 crore in Q2 September 2015. Net sales declined 3.97% to Rs 109.14 crore in Q2 September 2016 over Q2 September 2015.

Camlin Fine Sciences is a provider of high-quality shelf life extension solutions including antioxidants, aroma ingredients and performance chemicals.

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EPC Industrie to consider December quarter results
Dec 26,2016

EPC Industrie announced that a meeting of the Board of Directors of the Company will be held on 31 January 2017, inter alia, to consider, approve and take on record the Companys Unaudited Financial Results for the quarter ended on 31 December 2016.

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Indosolar to consider September quarter results
Dec 26,2016

Indosolar announced that a meeting of Board of Directors of the Company will be held on 30 December 2016, inter alia, to consider and take on record, Limited Review Report for the quarter and half-year ended 30 September 2016.

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Board of Seven Hill Industries considers change in registered office
Dec 26,2016

Seven Hill Industries announced that Meeting of the Board of Directors of the Company was held on 24 December 2016, inter alia, has considered the following:

- To shift Registered office of the Company from 2103, 21st FLOOR, G SQUARE BUSINESS PARK, SECTOR 30, OPP. SANPADA RAILWAY STATION (W), VASHI, NAVI MUMBAI - 400705, Maharashtra, India To GALA NO. 23, PAREKH MARKET, M.G. ROAD, GHATKOPAR (EAST), MUMBAI - 400077 with immediate effect.

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Aditya Birla Nuvo allots equity shares
Dec 26,2016

Aditya Birla Nuvo has allotted 16,997 equity shares of the face value of Rs. 10 each on 22 December 2016, pursuant to exercise of RSUs under the Companys Employee Stock Option Scheme 2013. All the said Equity Shares will rank pari passu with the existing Equity Shares of the Company, in all respects.

The paid up share capital of the Company will accordingly increase from Rs. 1,30,22,56,910 (13,02,25,691 equity shares of Rs. 10/- each) to Rs. 1,30,24,26,880 (13,02,42,688 equity shares of Rs. 10/- each).

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Apar Industries gains as board to consider share buyback
Dec 26,2016

The announcement was made after market hours on Friday, 23 December 2016.

Meanwhile, the S&P BSE Sensex was down 204.46 points or 0.79% at 25,836.24.

On the BSE, 1,830 shares were traded on the counter so far as against the average daily volumes of 14,833 shares in the past one quarter. The stock had hit a high of Rs 589.25 and a low of Rs 574.90 so far during the day.

The stock had hit a record high of Rs 633.55 on 1 August 2016 and a 52-week low of Rs 406 on 29 February 2016. The stock had outperformed the market over the past one month till 23 December 2016, advancing 1.32% compared with the Sensexs 0.04% fall. The scrip had also outperformed the market over the past one quarter falling 2.89% as against the Sensexs 9.71% fall.

The small-cap company has equity capital of Rs 38.50 crore. Face value per share is Rs 10.

Apar Industries net profit rose 82.2% to Rs 45.66 crore on 1.5% rise in net sales to Rs 1252.58 crore in Q2 September 2016 over Q2 September 2015.

Apar Industries is engaged in the business of manufacture of conductors, transformer/specialty oils and power/telecom cables.

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Siddhartha Tubes announces resignation of company secretary and compliance office
Dec 26,2016

Siddhartha Tubes announced that the Board of Directors of the Company at its meeting held on 16 December 2016, has accepted the resignation of Chandni Vardani as Company Secretary & Compliance Officer of the company with effect from 16 December 2016.

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MEP Infrastructure Developers provides business update
Dec 26,2016

MEP Infrastructure Developers announced that MEP Infrastructure Developers (MEP) has been appointed by the Maharashtra State Road Development Corporation, Mumbai (MSRDC) as Contractor for the collection of toll at the toll stations on Bhiwandi Kalyan Shilphata Highway at Katai Toll Plaza (Ch 4/500) and at Gove Toll Plaza (Ch 18/370) at approved toll rates specified by Govt. of India vide toll notification dated 08 October 2016 on only specified vehicles passing over the said section of road/project as per Letter of Acceptance dated 23 December 2016 received by the Company.

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