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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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MphasiS fixes record date for buyback of shares
Mar 16,2017

MphasiS has fixed 31 March 2017 as record date for purpose of buyback of shares.

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Somany Ceramics gets revision in credit ratings
Mar 16,2017

Somany Ceramics announced that CRISIL has upgraded its rating for the Company as follows:

Long- Term Rating - CRISIL AA-/ Stable (Upgraded from CRISIL A+/Positive)

Short Term Rating - CRISIL A1+ (Reaffirmed)

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Techno Electric & Engineering Company transfers wind power assets to subsidiary
Mar 16,2017

Techno Electric & Engineering Company announced that the Company has transferred 12 MW Wind Power assets situated in the state of Karnataka to its wholly owned subsidiary company, Simran Wind Project against issue of shares in the subsidiary company. The effective valuation of the said assets is Rs 45.64 crore.

Post this transfer, the Company does not hold any wind assets in its portfolio and the wind power assets of its subsidiary, Simran Wind Project has increased to 129.9 MW.

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Aditya Birla Nuvo temporarily shut downs Ammonia and Urea plants
Mar 16,2017

Aditya Birla Nuvo has temporarily shut down its Ammonia/ Urea plants at Jagdishpur, Uttar Pradesh from 17 March 2017 for the purpose of the planned maintenance program for annual turnaround. The plants are expected to resume operations from 10 April 2017.

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Kingfa Science & Technology (India) finalises Rights Issue programme
Mar 16,2017

Kingfa Science & Technology (India) announced that the Rights Issue Committee at its meeting held on 16 March 2017 has finalised the issue programme as under -

Rights issue opening date - 27 March 2017
Rights issue closing date - 10 April 2017

Last date for request for split application forms - 03 April 2017

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Rane Holdings completes divestment of stake in SasMos
Mar 16,2017

Rane Holdings announced that the divestment of equity stake in SasMos HET Technologies has been completed with closing date as 16 March 2017. Consequently, the Company has exited SasMos with effect from 16 March 2017.

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K P R Mill commissions state-of-the-art Processing Unit with Cold Processing Technology
Mar 16,2017

K P R Mill has commenced the operations of the State of the Art Processing Unit II. The advanced technology of cold processing adopted therein reduces the water consumption by 30% and eliminates the usage of Salt completely. This eco - friendly facility will economise the cost of production and enhance the Fabric quality with excellent colour uniformity. This new unit will further add value to the Garment Division.

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IndusInd Bank allots 34,570 equity shares
Mar 16,2017

IndusInd Bank has allotted 34,570 (Thirty Four Thousand Five Hundred Seventy) equity shares of Rs. 10/- (Rupees Ten Only) each on 16 March 2017 to those grantees who had exercised their option under the Companys Employee Stock Option Scheme. The said shares will rank pari-passu with the existing shares of the Company in all respect.

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IDBI Bank gets ratings revision for Tier II Bonds
Mar 16,2017

IDBI Bank has received from CARE, the rating for Banks Lower Tier II Bonds amounting to Rs 50 crore has been revised to AA- from AA.

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National Health Policy, 2017 approved by Cabinet Focus on Preventive and Promotive Health Care & Universal access to good quality health care services
Mar 16,2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi in its meeting on 15 March 2017, has approved the National Health Policy, 2017 (NHP, 2017). The Policy seeks to reach everyone in a comprehensive integrated way to move towards wellness. It aims at achieving universal health coverage and delivering quality health care services to all at affordable cost.

This Policy looks at problems and solutions holistically with private sector as strategic partners. It seeks to promote quality of care, focus is on emerging diseases and investment in promotive and preventive healthcare. The policy is patient centric and quality driven. It addresses health security and make in India for drugs and devices.

The main objective of the National Health Policy 2017 is to achieve the highest possible level of good health and well-being, through a preventive and promotive health care orientation in all developmental policies, and to achieve universal access to good quality health care services without anyone having to face financial hardship as a consequence.

In order to provide access and financial protection at secondary and tertiary care levels, the policy proposes free drugs, free diagnostics and free emergency care services in all public hospitals.

The policy envisages strategic purchase of secondary and tertiary care services as a short term measure to supplement and fill critical gaps in the health system.

The Policy recommends prioritizing the role of the Government in shaping health systems in all its dimensions. The roadmap of this new policy is predicated on public spending and provisioning of a public healthcare system that is comprehensive, integrated and accessible to all.

The NHP, 2017 advocates a positive and proactive engagement with the private sector for critical gap filling towards achieving national goals. It envisages private sector collaboration for strategic purchasing, capacity building, skill development programmes, awareness generation, developing sustainable networks for community to strengthen mental health services, and disaster management. The policy also advocates financial and non-incentives for encouraging the private sector participation.

The policy proposes raising public health expenditure to 2.5% of the GDP in a time bound manner. Policy envisages providing larger package of assured comprehensive primary health care through the Health and Wellness Centers. This policy denotes important change from very selective to comprehensive primary health care package which includes geriatric health care, palliative care and rehabilitative care services. The policy advocates allocating major proportion (upto two-thirds or more) of resources to primary care followed by secondary and tertiary care. The policy aspires to provide at the district level most of the secondary care which is currently provided at a medical college hospital.

The policy assigns specific quantitative targets aimed at reduction of disease prevalence/incidence, for health status and programme impact, health system performance and system strengthening. It seeks to strengthen the health, surveillance system and establish registries for diseases of public health importance, by 2020. It also seeks to align other policies for medical devices and equipment with public health goals.

The primary aim of the National Health Policy, 2017, is to inform, clarify, strengthen and prioritize the role of the Government in shaping health systems in all its dimensions- investment in health, organization and financing of healthcare services, prevention of diseases and promotion of good health through cross sectoral action, access to technologies, developing human resources, encouraging medical pluralism, building the knowledge base required for better health, financial protection strategies and regulation and progressive assurance for health. The policy emphasizes reorienting and strengthening the Public Health Institutions across the country, so as to provide universal access to free drugs, diagnostics and other essential healthcare.

The broad principles of the policy is centered on Professionalism, Integrity and Ethics, Equity, Affordability, Universality, Patient Centered & Quality of Care, Accountability and pluralism.

It seeks to ensure improved access and affordability of quality secondary and tertiary care services through a combination of public hospitals and strategic purchasing in healthcare deficit areas from accredited non-n++governmental healthcare providers, achieve significant reduction in out of pocket expenditure due to healthcare costs, reinforce trust in public healthcare system and influence operation and growth of private healthcare industry as well as medical technologies in alignment with public health goals.

The policy affirms commitment to pre-emptive care (aimed at pre-empting the occurrence of diseases) to achieve optimum levels of child and adolescent health. The policy envisages school health programmes as a major focus area as also health and hygiene being made a part of the school curriculum.

In order to leverage the pluralistic health care legacy, the policy recommends mainstreaming the different health systems. Towards mainstreaming the potential of AYUSH the policy envisages better access to AYUSH remedies through co-location in public facilities. Yoga would also be introduced much more widely in school and work places as part of promotion of good health.

The policy supports voluntary service in rural and under-served areas on pro-bono basis by recognized healthcare professionals under a giving back to society initiative.

The policy advocates extensive deployment of digital tools for improving the efficiency and outcome of the healthcare system and proposes establishment of National Digital Health Authority (NDHA) to regulate, develop and deploy digital health across the continuum of care.

The policy advocates a progressively incremental assurance based approach.

Background:

The National Health Policy, 2017 adopted an elaborate procedure for its formulation involving stakeholder consultations. Accordingly, the Government of India formulated the Draft National Health Policy and placed it in public domain on 30th December, 2014. Thereafter following detailed consultations with the stakeholders and State Governments, based on the suggestions received, the Draft National Health Policy was further fine-tuned. It received the endorsement of the Central Council for Health & Family Welfare, the apex policy making body, in its Twelfth Conference held on 27th February, 2016.

The last health policy was formulated in 2002. The socio economic and epidemiological changes since then necessitated the formulation of a New National Health Policy to address the current and emerging challenges.

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Bodal Chemicals to hold board meeting
Mar 16,2017

Bodal Chemicals will hold a meeting of the Board of Directors of the Company on 20 March 2017, to consider and approve to make Investment in a Private Limited company and acquired stake about 70% and make Subsidiary Company of Bodal Chemicals Ltd.

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G M Breweries to hold board meeting
Mar 16,2017

G M Breweries will hold a meeting of the Board of Directors of the Company on 6 April 2017 Quarterly Results

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Board of Super Fine Knitters approves change in company secretary and compliance officer
Mar 16,2017

Super Fine Knitters announced that the Board of Directors of the Company at its meeting held on 16 March 2017 has approved the following -

Divya Jain has resigned from the post of Company Secretary & Compliance Officer of the Company and Shruti Gupta has been appointed as Company Secretary & Compliance Officer of the Company.

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Greenply Industries to set up new unit in Hardoi, U.P.
Mar 16,2017

Greenply Industries announced that the Board of Directors of the Company at its meeting held on 16 March 2017 has approved setting-up of a new unit in Sandila Industrial Area, Sandila, Dist.- Hardoi, Uttar Pradesh, for manufacturing of plywood and its allied products.

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Fitch: Fed Embarks on New Phase of Normalization
Mar 16,2017

Fitch Ratings-New York/London-15 March 2017: The US Federal Reserves (the Fed) decision to hike interest rates by 25bps represents the beginning of a new phase of US monetary policy normalization, says Fitch Ratings.

The prediction for three hikes in 2017 in the Federal Open Market Committees (FOMC) December 2016 Summary of Economic Projections was initially met with some skepticism in financial markets. However, by moving rates up again so quickly, the Fed now looks well on track to deliver. Two rate hikes within the space of just over three months and some marginal toughening up of the statement on forward guidance underscore the contrast with the glacial and hesitant approach to unwinding stimulus seen in the past few years. More broadly, Fitch believes that the recent US rate hikes could mark the beginning of a significant shift in the global interest rate environment, with benchmark US policy rates settling higher over the long term than current market expectations.

The decision to raise the Fed Funds target rate to 0.75%-1.00% marks the second rate hike in just over three months. This represents a major acceleration in Fed action. Fitch now expects a total of seven hikes in 2017 and 2018, bringing the policy rate to 2.50%. This contrasts with just two rate hikes in total between the end of 2008 and 2016.

Macro indicators through 2H16 and early 2017 reinforce the likelihood of a pickup in rate normalization over the medium term. GDP growth of 2.6% (annualized) in 2H16 was a significant recovery from 1H16, underpinned by improvements in private investment and industrial output. So far, jobs data this year have also been supportive, with the latest nonfarm payrolls, unemployment and private sector earnings figures all pointing to tightening labor market conditions.

Material fiscal easing should bolster positive domestic demand trends. President Trumps agenda of tax cuts, fiscal stimulus and deregulation in the financial services and other sectors strongly indicates that some level of growth boost is likely. Although the precise form of stimulus remains uncertain, Fitch believes that fiscal policy could add up to 0.3pp to economic growth in both 2017 and 2018. Fitch recently revised up its US growth expectations in recognition of the increased likelihood of fiscal easing, higher private investment and improving global outlook. Fitch forecasts US GDP growth to accelerate to 2.3% and 2.6% in 2017 and 2018, respectively.

Fitch does not believe that the increased pace of Fed rate hikes poses a risk to US economic growth. However, the impact from dollar strengthening could have wider global effects, especially should this result in prolonged monetary policy divergence. US rate rises, combined with fiscal stimulus, at a time when the European Central Bank and Bank of Japan are continuing to pursue ultra-loose monetary policy, should prolong the dollar strengthening trend. Rising rates and dollar strength have historically added to external financing risks for emerging markets.

Fitch believes that market expectations for a permanently lower equilibrium interest rate in the US and the continuation of ultra-loose monetary policy for several more years could be increasingly challenged. This could result in a rapid shift in consensus expectations toward a higher terminal rate and a faster pace of normalization. Notably, market consensus was not expecting a March rate hike as early as last month, although healthy macro data releases and hawkish public statements from FOMC members resulted in a quick shift in expectations ahead of the actual decision.

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