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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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Mahindra Lifespace Developers announces cessation of director
Jul 31,2017

Mahindra Lifespace Developers announced that Dr Prakash Hebalkar has ceased to be an Independent Director of the Company with effect from 30 July 2017 on expiry of his term of office.

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Projects worth Rs 425 crore approved by NMCG
Jul 31,2017

The Executive Committee of National Mission for Clean Ganga (NMCG) in its 4th meeting approved seven projects worth Rs 425 crore in the sector of sewage infrastructure, Ghat development and research.

In sewage sector, three projects each in Uttar Pradesh and Bihar have been approved. For Uttar Pradesh, interception, diversion and STP projects for Unnao, Shuklaganj and Ramnagar have been approved. These three projects aim at creation of sewage treatment capacity of 29 MLD (Unnao- 13 MLD, Shuklaganj- six MLD and Ramnagar- ten MLD) at a total cost of Rs 238.64 crore.

While in Bihar, three projects at Sultanganj, Naugachia and Mokama with total estimated cost of Rs 175 crore have been approved. These three projects will create additional sewage treatment capacity of 27 MLD (Sultanganj- ten MLD, Mokama- eight MLD and Naugachia- nine MLD).

All the six projects will be provided with Operation and Maintenance cost for 15 years by Central government and 100 per cent central assistance. It is also important to mention that Unnao and Sultanganj projects will be taken up under Hybrid Annuity based PPP model in which 60 per cent of the capital cost will be paid to the contractor who has constructed the STP, over a period of 15 years, on the basis of his work performance on the achievement of desired norms of treated waste water.

A research study to understand the non-putrefying properties of river Ganga in both water and sediment was also approved at an estimated cost of Rs 4.96 crore. The study will be an extension of a research carried out by National Environment Engineering Research Institute (NEERI) to identify the special properties of rivers waters. This research would focus on finding out the science behind these special properties in order to formulate a strategy to retain these characteristics.

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Outcome board meeting of Dynamic Archistructures
Jul 31,2017

Dynamic Archistructures announced the Board of Directors of the Company at its meeting held on 31 July 2017, has considered and approved the following:

- Update on delisting of Securities of the Company from Calcutta Stock Exchange and discontinuation of submission of quarterly compliances with Delhi Stock Exchange.

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Thirumalai Chemicals announces resignation of directors
Jul 31,2017

Thirumalai Chemicals announced that P. Shankar, Independent Director (DIN: 01638317) and A. Janakiraman, Independent Director (DIN: 01831854) have resigned on 31 July 2017 from their position in the company.

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Shipping Corporation of India announces cessation of director
Jul 31,2017

Shipping Corporation of India announced the cessation of Capt. Sarveen Narula from the Board of Directors of the Company with effect from 01 August 2017 due to his superannuation.

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Balrampur Chini Mills leads gainers on BSEs A group
Jul 31,2017

Balrampur Chini Mills rose 5.42% at Rs 163.50. The stock topped the gainers in A group. On the BSE, 2.66 lakh shares were traded on the counter so far as against the average daily volumes of 1.62 lakh shares in the past two weeks.

IL&FS Transportation Networks rose 4.80% at Rs 93.80. The stock was the second biggest gainer in A group. On the BSE, 1.42 lakh shares were traded on the counter so far as against the average daily volumes of 62,000 shares in the past two weeks.

Jindal Steel & Power rose 3.98% at Rs 155.55. The stock was the third biggest gainer in A group. On the BSE, 16.08 lakh shares were traded on the counter so far as against the average daily volumes of 13.06 lakh shares in the past two weeks.

State Bank of India rose 3.63% at Rs 310.05. The stock was the fourth biggest gainer in A group. On the BSE, 23.29 lakh shares were traded on the counter so far as against the average daily volumes of 8.54 lakh shares in the past two weeks.

Crompton Greaves Consumer Electricals rose 3.86% at Rs 216.50. The stock was the fifth biggest gainer in A group. On the BSE, 22,000 shares were traded on the counter so far as against the average daily volumes of 1.63 lakh shares in the past two weeks.

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Gujarat Ambuja Exports nosedives after weak Q1 earnings
Jul 31,2017

The result was announced on Saturday, 29 July 2017.

Meanwhile, the S&P BSE Sensex was up 141.76 points, or 0.44% at 32,457.41. The S&P BSE Small-Cap index was up 29.94 points, or 0.19% at 16,101.16.

High volumes were witnessed on the counter. On the BSE, 1.42 lakh shares were traded on the counter so far as against the average daily volumes of 22,472 shares in the past one quarter. The stock had hit a high of Rs 130 and a low of Rs 110 so far during the day. The stock had hit a record high of Rs 146.95 on 5 May 2017 and a 52-week low of Rs 70.80 on 17 August 2016.

The stock had outperformed the market over the past one month till 28 July 2017, advancing 8.03% compared with the Sensexs 4.79% rise. The scrip had, however, underperformed the market over the past one quarter advancing 1.57% as against the Sensexs 7.99% rise. The scrip had, however, outperformed the market over the past one year advancing 75.1% as against the Sensexs 14.54% rise.

The small-cap company has equity capital of Rs 22.93 crore. Face value per share is Rs 2.

Gujarat Ambuja Exports is principally involved in agro-processing and has focus on exports, competing in the global market.

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With inflation at 5 year low, RBI Monetary Policy Committee must cut interest rates: ASSOCHAM to Governor Patel
Jul 31,2017

Citing inflation at a five year low and deceleration in the factory output, the ASSOCHAM has written to the RBI Governor Dr Urjit Patel, making out a strong case for at least 25 basis point cut in the policy interest rate when the RBI Monetary Policy Committee meets on August 2.

n++After a long duration of consistency in the Repo rates, ASSOCHAM believes that the RBI could reduce the policy rate by 25 basis points,n++ the chambers Secretary General Mr D S Rawat said in his letter to the RBI Governor, ahead of the impending credit policy review by the Monetary Policy Committee.

It said a strong case was made out for a reduction in the interest rates, keeping in mind new lows in both CPI and WPI inflation. n++The consumer price index (CPI) in June reached an almost-5 year low at 1.54%, from 2.18% in the previous quarter. The wholesale price index (WPI) also eased to 0.9% from 2.17%n++.

The case for rate-cut is additionally strengthened by easing of food inflation to (minus)-2.12% from 0.31%. Good monsoon forecasts for the current financial year have additionally created a stance for further reduction in the food inflation. The Current Account Deficit also continues to remain stable on account of stability in the crude-oil prices, since last one year.

n++The deceleration in factory output growth could further bolster the case for a rate cut next month to boost Asias third-largest economy, which grew 6.1 per cent in the January-March quarter - its weakest pace in more than two yearsn++, the chamber said .

Hoping for a due consideration of its demand for a rate cut by the Monetary Policy Committee, the ASSOCHAM said, the RBI also needs to come out with a special dispensation for loan recovery from the Small and Medium Enterprises as also the mid-sized corporates. n++We also expect in the policy some directional guidance and softer measures on recovery from SMEs and Mid-corporate.

Making a plea to the MPC, through Dr Patel, Mr Rawat said given the high leverage causing a big drain on the balance sheets of a large number of companies, a cut in the lending rates would be a big relief to different sectors of the economy.

n++We hope that our concerns and suggestions shall be given their due considerationn++.

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Board of Oriental Carbon & Chemicals decide to delist shares from Calcutta Stock Exchange
Jul 31,2017

Oriental Carbon & Chemicals announced that the Board of Directors of the Company at its meeting held on 28 July 2017 have approved the delisting of equity shares of the Company from the Calcutta Stock Exchange. The shares of the Company would remain listed on NSE and BSE.

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Volumes jump at TAAL Enterprises counter
Jul 31,2017

TAAL Enterprises clocked volume of 5.96 lakh shares by 12:10 IST on BSE, a 176.88-times surge over two-week average daily volume of 3,000 shares. The stock was locked at 5% upper circuit at Rs 171.15.

EIH notched up volume of 8.09 lakh shares, a 36.5-fold surge over two-week average daily volume of 22,000 shares. The stock advanced 1.14% at Rs 138.05.

8K Miles Software Services saw volume of 3.14 lakh shares, a 27.28-fold surge over two-week average daily volume of 12,000 shares. The stock was up 2.16% at Rs 551.10.

Religare Enterprises clocked volume of 18.2 lakh shares, a 19.06-fold surge over two-week average daily volume of 95,000 shares. The stock declined 1.77% at Rs 99.70.

Sinclair Hotels saw volume of 1.88 lakh shares, a 18.51-fold rise over two-week average daily volume of 10,000 shares. The stock lost 1.02% at Rs 315.

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Indian Hume Pipe gains after order win
Jul 31,2017

The announcement was made after market hours on Friday, 28 July 2017.

Meanwhile, the S&P BSE Sensex was up 129.18 points, or 0.40% to 32,439.06.

On the BSE, 3,082 shares were traded in the counter so far, compared with average daily volumes of 13,393 shares in the past one quarter. The stock had hit a high of Rs 570 so far during the day, which is also a record high for the counter. The stock had hit a low of Rs 556 so far during the day. The stock hit a 52-week low of Rs 253.18 on 2 August 2016.

The stock had outperformed the market over the past one month till 28 July 2017, rising 10.23% compared with 4.71% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 37.42% as against Sensexs 7.99% rise. The scrip had also outperformed the market in past one year, rising 102.96% as against Sensexs 15.18% rise.

The small-cap company has equity capital of Rs 9.69 crore. Face value per share is Rs 2.

Indian Hume Pipe Company secured an order worth Rs 163.50 crore from Raipur Municipal Corporation in Chhattisgarh for augmentation of water supply scheme of Raipur under Amrut Mission on turnkey basis, including operation & maintenance for 5 years. The work is to be completed within 30 months.

Net profit of Indian Hume Pipe Company rose 252.49% to Rs 33.24 crore on 64% rise in net sales to Rs 488.01 crore in Q4 March 2017 over Q4 March 2016.

Indian Hume Pipe Company is engaged in the business of providing integrated water supply schemes including manufacturing, laying and jointing of pipelines of various pipe materials which provide infrastructure facility for development of water supply and irrigation projects.

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Rise in tomato prices lead to high demand for puree/ketch up: ASSOCHAM
Jul 31,2017

Rise in tomato prices to as much as Rs 100 per kg. due to crop damage following rains in the growing areas, has created an additional demand for alternatives like tomato puree/ketchup to the extent of 40-45 per cent in the recent few weeks, as the home makers are resorting to balance budgets in the face of no immediate relief in sight for the key ingredient for the Indian cuisine, an ASSOCHAM Paper has said.

An interaction with the Mandi traders in different major cities like Delhi-NCR, Mumbai, Lucknow, Kolkata, Chennai, Ahmedabad, Hyderabad indicate that the tomato prices may not immediately ease as flooding in some of the growing states has led to damage to the crop. Unlike onion and potato, the shelf life for tomato is very short and it needs cold chains and modern warehouses for storage and transportation.

On the back of rising demand, the grocers have increased stock of tomato puree/ketchup, as the home makers are quite sensitive to any price rise. Most of the Indian curries, both for vegetarians and non-vegetarians need large quantity of tomatoes; besides, the raw material cost of dishes in hotels and restaurants has also gone up, the paper.

Frequent volatility in prices of fruits and vegetables underscores need for creation of a well-equipped supply chain in this segment. Both the states and the Centre should extend liberal sops for investment in cold chains and referigerated infrastructure, said ASSOCHAM Secretary General Mr D S Rawat.

Majority of respondents said that they have curtailed the use of tomatoes and prefer dishes which do not require much use of tomatoes, like lady finger or pumpkin and some are substituting it with raw mango to get that sour taste, adds the paper.

As per reports, lack of rains in the tomato-growing areas of Maharashtra and other states have a big impact on arrivals of tomatoes in the mandis, adds the paper. The maximum impact was felt in Delhi-NCR followed by Mumbai.

The prices of tomatoes are likely to increase further during coming months, if adequate safeguards are not taken while tomato prices are already touching Rs 100 per kg.

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Kitex Garments tumbles after weak Q1 results
Jul 31,2017

The result was announced on Saturday, 29 July 2017.

Meanwhile, the S&P BSE Sensex was up 102.96 points, or 0.32% to 32,412.84.

On the BSE, 1.01 lakh shares were traded in the counter so far, compared with average daily volumes of 13,063 shares in the past one quarter. The stock had hit a high of Rs 273.90 and a low of Rs 246.70 so far during the day. The stock hit a 52-week high of Rs 384.13 on 25 April 2017. The stock hit a 52-week low of Rs 246.70 on 31 July 2017.

The stock had underperformed the market over the past one month till 28 July 2017, rising 1.79% compared with 4.71% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 21.27% as against Sensexs 7.99% rise. The scrip had also underperformed the market in past one year, falling 20.12% as against Sensexs 15.18% rise.

The mid-cap company has equity capital of Rs 6.65 crore. Face value per share is Re 1.

Kitex Garments is currently the second largest producer of childrens apparel in the world. It caters to conglomerates in USA and Europe.

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Stressed Assets with Banks represent unique opportunity for Asset Reconstruction Companies and Private Equity Firms: Finance Minister
Jul 31,2017

The Union Finance Minister, Sh. Arun Jaitley stated that the opportunities presented by the Insolvency and Bankruptcy Code (IBC) framework and Governments emphasis on resolution represent a unique opportunity for Asset Reconstruction Companies (ARCs) and Private Equity firms (PE). At a meeting with leading ARCs and PE firms focussed on stressed assets, he said that accounts classified as impaired/stressed still had inherent value. These were essentially productive assets which if turned around would not only create additional jobs but also contribute to national output. For this to happen, timely interventions, transparent price discovery and right management were required.

Sh. Jaitley highlighted the legislative and regulatory changes made over the last 18 months which had created an enabling and supportive operational environment for ARCs and for takeover of stressed assets by PE firms/special situation funds. These, inter alia, include 100% ownership by sponsors, higher ceiling of 100% for FDI in ARCs, pass through status to ARC trusts for income tax, exemption from stamp duty, enabling trading of security receipts etc. He noted that a number of new ARCs have sought and obtained registration during recent months. The increasing number of players in the market was indicative of an increasing interest in the sector but also presented an opportunity for banks to offload stressed assets before fully provisioning for them. The ratio of cost of acquisition to book value of assets acquired by ARCs has been rising. Within this overall context, the ARCs and PE funds were well placed to step up their activity levels as all the building blocks were there.

During discussions, ARCs and PE firms were appreciative of the steps taken so far by the Government and RBI. The need for evolution of targeted case specific solution by ARCs/PE funds was brought out, as these entities have higher operational flexibility. Prospects for capital raising and deployment were highlighted. It was suggested that sale of project loan by a consortium instead of individual banks selling their loan account could be a much more effective way of ensuring debt aggregation in a timely manner. Suggestions were also made regarding increase in activity levels of ARCs and PE funds.

Taking note of the feedback, Shri Jaitley observed that Govt. and RBI had greatly facilitated the role of ARCs and Special Situation funds in effective resolution. Resultant collaboration between banks, ARCs, PE, Asset Management Companies and resolution professionals could pave the way to a virtuous cycle of fresh investments, new jobs and additional demand.

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Seshasayee Paper declines after weak Q1 numbers
Jul 31,2017

The result was announced on Saturday, 29 July 2017.

Meanwhile, the S&P BSE Sensex was up 97.47 points, or 0.3% at 32,407.35. The S&P BSE Small-Cap index was up 21.88 points, or 0.14% at 16,094.21.

On the BSE, 3,241 shares were traded on the counter so far as against the average daily volumes of 1,416 shares in the past one quarter. The stock had hit a high of Rs 749 and a low of Rs 721 so far during the day. The stock had hit a record high of Rs 880 on 6 February 2017 and a 52-week low of Rs 381.50 on 16 August 2016.

The stock had underperformed the market over the past one month till 28 July 2017, advancing 2.82% compared with the Sensexs 4.79% rise. The scrip had also underperformed the market over the past one quarter advancing 6.46% as against the Sensexs 7.99% rise. The scrip had, however, outperformed the market over the past one year advancing 84.35% as against the Sensexs 14.54% rise.

The small-cap company has equity capital of Rs 12.61 crore. Face value per share is Rs 10.

Seshasayee Paper and Boards is engaged in the manufacture of printing and writing papers.

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