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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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Volumes jump at KNR Constructions counter
Mar 21,2017

KNR Constructions clocked volume of 5.01 lakh shares by 13:45 IST on BSE, a 98.97-times surge over two-week average daily volume of 5,000 shares. The stock fell 0.14% to Rs 180.05.

NLC India notched up volume of 6.41 lakh shares, a 24.52-fold surge over two-week average daily volume of 26,000 shares. The stock rose 12.62% to Rs 109.30.

Joonktollee Tea & Industries saw volume of 6.07 lakh shares, a 16.82-fold surge over two-week average daily volume of 36,000 shares. The stock fell 0.35% to Rs 173.

Divis Laboratories clocked volume of 20.32 lakh shares, a 15.21-fold surge over two-week average daily volume of 1.34 lakh shares. The stock fell 18.75% to Rs 642.45.

Ramco Industries saw volume of 4.03 lakh shares, a 10.25-fold rise over two-week average daily volume of 39,000 shares. The stock fell 0.33% to Rs 210.50.

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Mandhana Industries announces cessation of director
Mar 21,2017

Mandhana Industries announced the cessation of Sangeeta M Mandhana as Non Executive Director of the Company with effect from 20 March 2017.

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PC Jeweller to open 4 new showroom
Mar 21,2017

PC Jeweller announced it is opening 4 new showrooms on 28 March 2017 at Noida (U.P.), Dwarka (New Delhi), Alwar (Rajasthan) and Aligarh (U.P.).

With the opening of these 4 showrooms, the Company will have a total of 75 showrooms located in 58 cities in India.

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Future Enterprises allots 2,76,117 Equity Shares
Mar 21,2017

Future Enterprises has allotted 2,76,117 Equity Shares of Rs. 2/- each to eligible employee(s) under the Employee Stock Option Scheme 2012 (ESOS - 2012) of the Company.

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Bharat Financial Inclusion allots 6,493 equity shares
Mar 21,2017

Bharat Financial Inclusion has allotted on 21 March 2017 6,493 equity shares of Rs.10/- each to the employees of the Company who have exercised options under various Stock Option Plans. The said shares shall rank pari-passu with the existing equity shares of the Company in all respects

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ASSOCHAM-Crisil study suggests three pronged strategy to deepen bond market in India
Mar 21,2017

A three pronged approach based on - facilitating larger institutional investment in corporate bonds together with weaning companies away from bank loans and ensuring facilitative policies and infrastructure from perspective of both issuers and investors is imperative for comprehensive development of debt market in India, suggested a recent ASSOCHAM-Crisil joint study.

n++Setting up of a dedicated team of experts or department within the Ministry of Finance to facilitate development of the corporate bond market and following up on relevant implementation initiatives will help,n++ suggested the study titled, Giving debt its due, jointly conducted by ASSOCHAM and Crisil thereby highlighting the need to put in facilitative policies and requisite infrastructure.

As part of facilitating larger institutional investment in corporate bonds - mutual funds, insurance companies and pension funds have best chance of channelling financial savings. While bank financing is by far the most preferred mode of funding, as such more companies should come out with bonds.

n++The Indian bond market has not grown the way it should have due to structural constraints - dominance of banks in lending, risk appetite of investors limited to higher ratings, regulatory arbitrage between loans and bonds and prescriptive regulatory limits on investments,n++ noted the study.

Factors such as dominance of banks in lending, risk appetite of investors limited to higher ratings, regulatory arbitrage between loans and bonds, and prescriptive regulatory limits on investments are hindering the growth of corporate bond market in India.

n++Also, retail (individuals) participation in debt markets is almost non-existent, even though the Indian investor psyche is skewed towards fixed income instruments - with as much as 47 per cent of the annual household financial savings flowing into bank fixed deposits,n++ said the report.

Highlighting the importance of a thriving corporate bond market, it said, n++It would be a win-win for both industry participants and investors - issuers will benefit from being able to generate stable funding at low costs, while investors can get secure and predictable cash flows with higher returns compared with plain-vanilla bank fixed deposits.n++

The report further stated that in the long run, this also offers economic benefits to the country as a whole, and is growth-conducive as it becomes especially important for funding the governments ambitious infrastructure agenda, which will require an estimated Rs 43 trillion in the five fiscals to 2020.

Considering the major role of individual investors, the study highlighted the urgent need to promote vigorous investor education and awareness initiatives as part of encouraging measures undertaken by regulators.

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Ramky Infra drops on profit taking
Mar 21,2017

Meanwhile, the S&P BSE Sensex was down 98.29 points or 0.33% at 29,420.45. The BSE Small-Cap index was down 65.67 points or 0.47% at 13,989.32.

On the BSE, 2.99 lakh shares were traded on the counter so far as against the average daily volumes of 23,085 shares in the past one quarter. The stock had hit a high of Rs 112.80 so far during the day, which is a 52-week high. The stock hit a low of Rs 102 so far during the day.

The stock had hit a 52-week low of Rs 51.80 on 18 November 2016. The stock had outperformed the market over the past one month till 20 March 2017, advancing 24% compared with the Sensexs 2.99% rise. The scrip had also outperformed the market over the past one quarter, rising 67.37% as against the Sensexs 12.2% rise.

The small-cap company has equity capital of Rs 57.20 crore. Face value per share is Rs 10.

Shares of Ramky Infrastructure had rallied 33.13% in the preceding four trading sessions to settle at Rs 106.70, from its closing of Rs 80.15 on 14 March 2017.

Ramky Infrastructure reported net profit of Rs 27.63 crore in Q3 December 2016 as against net loss of Rs 10.43 crore in Q3 December 2015. Net sales rose 9.2% to Rs 373.25 crore in Q3 December 2016 over Q3 December 2015.

Ramky Infrastructure is an integrated construction, infrastructure development and management company in India.

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Dredging Corporation of India soars over 48% in six sessions
Mar 21,2017

Meanwhile, the S&P BSE Sensex was down 106.91 points, or 0.36% to 29,411.83.

On the BSE, 1.27 lakh shares were traded in the counter so far, compared with average daily volumes of 68,215 shares in the past one quarter. The stock had hit a high of Rs 713.85 and a low of Rs 684 so far during the day. The stock hit a 52-week high of Rs 716 on 17 March 2017. The stock hit a 52-week low of Rs 330 on 21 March 2016.

The stock had outperformed the market over the past one month till 20 March 2017, rising 51.51% compared with 3.69% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 76.80% as against Sensexs 12.20% rise.

The small-cap company has equity capital of Rs 28 crore. Face value per share is Rs 10.

Shares of Dredging Corporation of India have rallied 48.05% in six trading sessions from its close of Rs 474.50 on 10 March 2017.

On 6 March 2017, some media reports suggested that the government was looking to sell a 51% stake in state-run company. The strategic stake sale could materialise by middle of the next fiscal year starting April 2017, the reports added.

The company, however, clarified during trading hours on 6 March 2017, that it has not received any specific official communication from the government regarding stake sale. Hence, the company had no comments to offer on the same. The company added that it will inform the stock exchange as and when any official information is received from the government in this regard.

The government currently holds 73.47% stake in Dredging Corporation of India (as on 31 December 2016).

Dredging Corporation of India reported net profit of Rs 14.04 crore in Q3 December 2016, compared with net loss of Rs 19.62 crore in Q3 December 2015. Net sales fell 13.7% to Rs 139.39 crore in Q3 December 2016 over Q3 December 2015.

State-run Dredging Corporation of India provides dredging services to the major ports of the country.

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Ramco Systems partners with PT Mass Rapid Transit Jakarta
Mar 21,2017

Indonesian government owned rail transit operator - PT Mass Rapid Transit Jakarta announced that it will implement Ramco Systems ERP suite, to digitise its regional finance and accounting functions.

Ramco will deploy its next gen Finance & Accounting offering its Enterprise Resource Planning suite for PT MRTJ, in partnership with its local IT consultancy PT EMS Paramitra.

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Board of Aryaman Financial Services allots 7.07 lakh equity shares on preferential basis
Mar 21,2017

Aryaman Financial Services announced that the Board of Directors of the Company at its meeting held on 21 March 2017 have allotted 7,07,000 Equity Shares having face value of Rs. 10/- on preferential basis at a price of Rs. 22.50/-

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RPP Infra Projects secures order worth Rs 45.6 crore
Mar 21,2017

RPP Infra Projects has received an order from Karnataka Slum Development Board for construction of 795 ground floor dwelling units including infrastructure at 1 selected slums of Krishnaraja Area in Mysore city under PMAY-HFA scheme for worth Rs 45.6 crore. The said work is to be completed within 24 months.

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Dilip Buildcon receives provisional completion certificate for road project on NH-167 in Andhra Pradesh
Mar 21,2017

Dilip Buildcon has received the provisional Completion Certificate and declared fit for entry into operation w.e.f. 15 February, 2017, for the project of Adoni to Madhavaram via Mantralayam Section (NH-167) Road Total Length 55.15 Km two lane with paved shoulders in the state of Andhra Pradesh under Corridor Approach Engineering, Procurement and Construction (EPC) basis. Further, the Company has successfully completed the said project 102 days prior to the schedule Completion date and in lieu of the earlier completion of the Project, Company is entitled to received the maximum Bonus amount Rs. 4.92 crore.

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Havells India inches up after commencing commercial production at plant in Assam
Mar 21,2017

The announcement was made after market hours yesterday, 20 March 2017.

Meanwhile, the S&P Sensex was down 90.88 points, 0.31% at 29,427.86.

On the BSE, 54,000 shares were traded on the counter so far as against the average daily volumes of 1.67 lakh shares in the past one quarter. The stock had hit a high of Rs 451.90 and a low of Rs 444.50 so far during the day.

The stock had hit a record high of Rs 459.80 on 6 October 2016 and a 52-week low of Rs 287 on 18 March 2016. The stock had outperformed the market over the past one month till 20 March 2017, advancing 7.63% compared with the Sensexs 2.99% rise. The scrip had also outperformed the market over the past one quarter advancing 39.74% as against the Sensexs 12.20% rise.

The large-cap company has equity capital of Rs 62.49 crore. Face value per share is Rs 1.

Havells India announced that it has commenced the commercial production at its plant situated at District-Kamrup (Rural), Assam, with effect from 20 March 2017.

Havells Indias net profit rose 27.5% to Rs 152.97 crore on 13.1% increase in net sales to Rs 1493.61 crore in Q3 December 2016 over Q3 December 2015.

Havells India is a fast moving electrical goods (FMEG) manufacturer, producing a wide range of industrial and consumer electrical products.

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US stocks close marginally lower
Mar 21,2017

US indices closed marginally lower on Monday, 20 March 2017 for the third straight day of losses, as investors were reluctant to make big bets without major economic or corporate news. In early trade, the Nasdaq Composite set an intraday all-time high, but settled within a few points of its previous closing record set earlier this month.

The Dow Jones Industrial Average ended 8.76 points, or less than 0.1%, lower at 20,905.86, with two-thirds of the blue-chip companies closing in positive territory. The Nasdaq Composite Index set an intraday high at 5,915.12 in early trade, but finished virtually unchanged at 5,901.53. The S&P 500 index closed off 4.8 points, or 0.2%, at 2,373.45, with seven of the 11 main sectors finishing in negative territory.

Financials were the biggest decliners, putting pressure on the main index. Meanwhile energy stocks tracked volatile oil prices, ending slightly lower as crude-oil prices recovered some of the sharp losses.

Caterpillar and Nike led the gains, closing up 2.7% and 1.5%, respectively while Home Depot and Visa were the top decliners, each losing 1.2%.

Mondays sideways trend fits nicely with the range-bound action that has ensued over the last couple of weeks in the stock market. As leaders in Washington continue to debate the details of health care reform, investors keep their fingers crossed for a quick resolution, knowing that the longer the bill takes to pass through Congress, the longer they will have to wait for tax reform.

News flow was generally light on Monday with statements from three FOMC voters acting as the top headline. In summary, Chicago Fed President Evans could not rule out four rate hikes in 2017, Philadelphia Fed President Harker believes that the Fed will mildly overshoot the 2.0% inflation target, and Minneapolis Fed President Kashkari stated that he would like to shift the focus to reducing the Feds balance sheet.

Treasuries ticked up in the wake of the statements to finish Monday with modest gains. The benchmark 10-yr yield closed three basis points lower at 2.47%.

Among stocks under focus, Walt Disney shares gained 0.9% after n++Beauty and the Beastn++ topped box-office ticket sales over the weekend. Shares of Caterpillar were up 2.7% after the industrial-equipment maker reported encouraging February retail machine-sales data. Apple also had a solid showing, climbing 1.0% to a fresh record-high.

Bullion prices ended higher at Comex on Monday, 20 March 2017. Gold futures settled on Monday at their highest level in about 2n++ weeks, extending their post-Federal Reserve meeting gains to a third straight session, with the U.S. dollar losing ground against the euro as the U.K. prepared to leave the European Union.

April gold rose $3.80, or 0.3%, to settle at $1,234 an ounce n++the highest finish since March 1. Gold gained about 2.4% last week. Silver for May delivery added 0.1% to $17.438 an ounce.

Oil prices settled at their lowest level in nearly a week on Monday, 20 March 2017, as another rise in active U.S. oil rigs renewed concerns over domestic production and some analysts worried that a change to the G-20 policy statement may impact global trade.

April West Texas Intermediate crude shed 56 cents, or 1.2%, to finish at $48.22 a barrel on the New York Mercantile Exchange, ahead of the contracts expiration at Tuesdays settlement. May Brent crude gave up 14 cents, or 0.3%, to $51.62 a barrel on the ICE Futures exchange in London.

Investors did not receive any economic data on Monday. Tuesdays lone economic report, fourth quarter Current Account Balance (consensus -$128.2 billion), will cross the wires at 8:30 AM.

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Pearl Global Industries announces resignation of director
Mar 21,2017

Pearl Global Industries announced the resignation of Samar Ballav Mohapatra, Independent Director of the Company with effect from 20 March 2017.

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