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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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CCL Products (India) to hold board meeting
Jul 04,2017

CCL Products (India) will hold a meeting of the Board of Directors of the Company on 11 July 2017 to consider and approve un-audited standalone financial results and un-audited consolidated financial results of the Company for the first quarter ended 30th June, 2017.

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Hil to hold board meeting
Jul 04,2017

Hil will hold a meeting of the Board of Directors of the Company on 18 July 2017 to consider and take on record, among other matters the Unaudited Financial Results for the quarter ended 30.06.2017.

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Natco Economicals to hold board meeting
Jul 04,2017

Natco Economicals will hold a meeting of the Board of Directors of the Company on 6 July 2017 for consider the appointment of company secretary & compliance officer of the company

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Zydus Cadila receives tentative approval for Sitagliptin and Metformin Hydrochloride Tablets
Jul 04,2017

Zydus Cadila has received the tentative approval from the USFDA to market Sitagliptin and Metformin Hydrochloride Tablets in the strengths of 50 mg/ 500 mg and 50 mg/ 1000 mg.

This is a fixed dose combination of two anti-diabetic drugs indicated for Type II diabetes mellitus and will be produced at the groups formulations manufacturing facility at Pharma SEZ in Ahmedabad.

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Mindtree to hold board meeting
Jul 04,2017

Mindtree will hold a meeting of the Board of Directors of the Company on 19 July 2017 to consider the audited financial results of the Company for the quarter ended June 30, 2017.

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Linde India to hold board meeting
Jul 04,2017

Linde India will hold a meeting of the Board of Directors of the Company on 17 July 2017 consider and approve the Unaudited Financial Results of the Company for the second quarter and half year ended 30 June 2017.

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Shree Ganesh Biotech India to hold board meeting
Jul 04,2017

Shree Ganesh Biotech India will hold a meeting of the Board of Directors of the Company on 12 July 2017 to consider the Unaudited financial results of the company for quarter ending June 30, 2017.

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Lypsa Gems & Jewellery receives order worth Rs 16 crore
Jul 04,2017

Lypsa Gems & Jewellery DMCC - a subsidiary of Lypsa Gems & Jewellery has received an order of Rs 16 crore to supply diamonds and diamond studded jewellery to customers in UAE.

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Alembic Pharmaceuticals gets tentative approval for Vardenafil Hydrochloride Orally Disintegrating Tablets
Jul 04,2017

Alembic Pharmaceuticals has received tentative approval from the USFDA for its Abbreviated New Drug Application for Vardenafil Hydrochloride Orally Disintegrating Tablets, 10 mg. The tentatively approved ANDA is therapeutically equivalent to the reference listed drug product STAXYN Orally Disintegrating Tablets, 10 mg of Bayer Healthcare and is used under license by GlaxoSmithKline. Vardenafil Hydrochloride Orally Disintegrating Tablets are indicated for treatment of erectile dysfunction.

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Ind-Ra: Affordable Housing Finance- INR6 Trillion Opportunity
Jul 04,2017

Affordable housing finance (largely for loan ticket size up to INR1.5 million) will become a large segment for housing finance companies (HFCs) in the next five years, with the estimated share to increase to around 37% in FY22 (FY17: 26%) says India Ratings and Research (Ind-Ra). The accelerated urbanisation on account of fast economic growth over the last decade and a half has created massive need for affordable housing.

Multiple tailwinds underpinning growth of the sector: The agency anticipates a demand for 25 million homes (4x of the entire current housing finance stock) over FY17-FY22 in the Medium Income Group (MIG) and Lower Income Group (LIG) categories. A combination of factors such as: 1) government financial and policy thrust, 2) regulatory support, 3) rising urbanisation, 4) increasing nuclearisation of families, and 5) increasing affordability is converting latent demand into a commercially lucrative business opportunity. Ind-Ra expects the sector to attract over INR200 billion of equity inflows over FY17-FY22 which would support growth.

Built-for-scale models required to compete with entrenched incumbents: Ind-Ras analysis reveals that on operating cost metrics, the new entrants with their pan-India ambitions would need to build scale quickly to compete with the incumbents whose regional-focussed models have helped maintain tight opex ratios in addition to their funding cost advantage. This entails building up the book at a rapid pace and hence will lead to high proportion of unseasoned portfolio at any point in time. To offset this it would necessitate having the right people with adequate skill-set (who have seen various cycles and scale) and the right processes (building a scalable credit funnel and robust underwriting platform) while getting the pricing (risk and opex adjusted spreads) right. These would be the key differentiators for the new age HFCs. Informal credit assessment remains the crux for the segment, and hence reasonable assessment of instalment paying ability while keeping sufficient margin for income volatality over lifecycle would be of prime importance.

Key risks and possible mitigants: Aggressive expansion without ensuring appropriate credit assessment could be a risk for the segment especially in view of limited financial data available and possibly less financial savvy customer segment. Also, the segment requires high customer connect, therefore, attracting and retaining people with on ground connect would be of prime importance. HFCs would need to build a sense of ownership, as well as develop a right incentive structure to manage this risk. Operationally, managing liquidity, mainly in view of long tenure nature of assets would be key consideration. Ind-Ra expects a prudent asset liability tenure management by HFCs.

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HEG drops after recent sharp rally
Jul 04,2017

Meanwhile, the S&P BSE Sensex was down 29.34 points, or 0.09% at 31,192.28. The S&P BSE Small-Cap index was up 3.13 points, or 0.02% at 15,575.97.

On the BSE, 21,000 shares were traded on the counter so far as against the average daily volumes of 1.29 lakh shares in the past two weeks. The stock had hit a high of Rs 390 and a low of Rs 376.55 so far during the day. The stock had hit a 52-week high of Rs 391 on 3 July 2017 and a 52-week low of Rs 144.10 on 22 November 2016.

The stock had outperformed the market over the past one month till 3 July 2017, advancing 41.81% compared with the Sensexs 0.17% fall. The scrip had also outperformed the market over the past one quarter advancing 72% as against the Sensexs 4.38% rise. The scrip had also outperformed the market over the past one year advancing 141.95% as against the Sensexs 15.02% rise.

The small-cap company has equity capital of Rs 39.96 crore. Face value per share is Rs 10.

Shares of HEG had rallied 21.43% in the preceding three trading sessions to settle at Rs 387 yesterday, 3 July 2017, from its close of Rs 318.70 on 28 June 2017.

HEG reported net loss of Rs 3.86 crore in Q4 March 2017, compared with net loss of Rs 27.11 crore in Q4 March 2016. Net sales rose 44.4% to Rs 247.68 crore in Q4 March 2017 over Q4 March 2016.

HEG is the leading manufacturer and exporter of graphite electrodes in India.

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Power Mech Projects receives orders worth Rs 624 crore approx.
Jul 04,2017

Power Mech Projects announced that the following Subsidiaries/JVs of the Company have received a Letter of Intent/Work Orders for the following projects:

GTA Power Mech Nigeria, 50% JV of Power Mech Projects has received an order for Composite Work tender Unit - V for Dangote Oil Refining Company Ltd, Lagos, Nigeria for a total contract price of US $ 76,000,000 (US Dollar Seventy-Six Million only) approximately Rs 491 crore.

Mas Power Mech Arabia LLC, 51 % Subsidiary of Power Mech Projects has received an order for Installation works of HRSG, CENTER LINE (STG & GTG) #1,#2 & #3 for 1800MW ALBA PS5 CCPP, Kingdom of Bahrain, for a total contract price of US $2,06,16,165 (US Dollar Twenty Million Sixty One Lakhs Six thousand One hundred and sixty five only) approximately Rs 133 crore.

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Vesuvius India to hold board meeting
Jul 04,2017

Vesuvius India will hold a meeting of the Board of Directors of the Company on 8 August 2017 Quarterly Results

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Metkore Alloys & Industries to hold AGM
Jul 04,2017

Metkore Alloys & Industries announced that the th Annual General Meeting(AGM) of the company on 31 July 2017.

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Just Dial slips after CFO resigns
Jul 04,2017

The announcement was made after market hours yesterday, 3 July 2017.

Meanwhile, the S&P BSE Sensex was up 16.68 points, or 0.05% to 31,238.30.

On the BSE, 81,000 shares were traded in the counter so far, compared with average daily volumes of 1.97 lakh shares in the past one quarter. The stock had hit a high of Rs 380 and a low of Rs 365 so far during the day. The stock hit a 52-week high of Rs 625.60 on 4 June 2016. The stock hit a 52-week low of Rs 318.20 on 27 December 2016.

The stock had underperformed the market over the past one month till 3 July 2017, falling 14.25% compared with 0.17% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 29.93% as against Sensexs 4.38% rise. The scrip had also underperformed the market in past one year, falling 38.28% as against Sensexs 14.45% rise.

The small-cap company has equity capital of Rs 69.55 crore. Face value per share is Rs 10.

Just Dial announced that Ramkumar Krishnamachari, chief financial officer and key managerial personnel of the company, submitted his resignation yesterday, 3 July 2017. The company said it accepted the resignation and decided to relieve Ramkumar Krishnamachari from his duties with effect from 30 September 2017.

Net profit of Just Dial declined 37.08% to Rs 25.35 crore on 5.90% rise in net sales to Rs 181.72 crore in Q4 March 2017 over Q4 March 2016.

Just Dial is a leading local search engine in India.

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