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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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Celestial Biolabs to announces Q2 and HY results
Nov 08,2016

Celestial Biolabs announced that a meeting of the Board of Directors and Audit Committee of the Company is schedule to be held on 14 November 2016 to consider and take on record the Un-audited financial results of the Company for the quarter / half year ended 30 September 2016.

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Celestial Biolabs to announces Q2 and HY results
Nov 08,2016

Celestial Biolabs announced that a meeting of the Board of Directors and Audit Committee of the Company is schedule to be held on 14 November 2016 to consider and take on record the Un-audited financial results of the Company for the quarter / half year ended 30 September 2016.

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Government of India and Asian Development Bank (ADB) sign $48 Million Loan to improve Assams Power Distribution System
Nov 08,2016

The Asian Development Bank (ADB) and the Government of India signed a $48 million loan to help Assam state continue its drive to improve access to efficient and reliable power in the national capital.

This is the second tranche loan of the $300 million multi tranche financing facility for the Assam Power Sector Investment Program that was approved by the ADB Board in July 2014. The project will help Assam to enhance capacity and efficiency of its power distribution system to improve electricity service to end users. The first tranche loan of $50 million was signed in February 2015.

n++Increased access to reliable and modern power supply for remote communities can help meet growing demand. This loan will help strengthen the states distribution system, improve energy efficiency and reduce technical and commercial losses,n++ said Ms. M. Teresa Kho, Country Director of ADBs India Resident Mission, who signed the loan agreement on behalf of ADB.

n++Given that a sustainable power supply is critical for facilitating growth and creating employment opportunities, this project will help Assam attract investment and tap its economic potential, in addition to reducing power outages,n++ said Mr. Raj Kumar, Joint Secretary (Multilateral Institutions) in the Ministry of Finance, who signed the agreement for Government of India. Ms Z. Rahman Ahmed, Secretary (Power), Govt. of Assam, signed the loan agreement on behalf of the state government along with Mr. P. Gupta, MD, Assam Power Distribution Company (APDCL).

The project, which is expected to be completed by December 2019, will help APDCL add an additional substation capacity, expand and improve medium voltage network, reduce system losses by 3% and enhance energy efficiency through renovation and modernization of existing 33/11 kV substations. Part of the loan will be used to strengthen institutional capacity of APDCL through setting up independent meter testing laboratories, load dispatch centers and installing centralized uniform billing system to 1.2 million customers.

The loan of $48 million from ADBs ordinary capital resources makes up to 80% of the total project cost of almost $60 million, with the Government of Assam providing counterpart finance of $12 million. The loan has a 25-year term, including a five-year grace period with an annual interest rate determined in accordance with ADBs LIBOR-based lending facility.

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Relish Pharmaceuticals Board to consider September quarter results
Nov 08,2016

Relish Pharmaceuticals announced that the meeting of the Board of Directors of the Company will be held on 14 November 2016 inter alia, to transact the following business:

- To consider, adopt and approve Unaudited Financial Results for the quarter ended on 30 September 2016.

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Relish Pharmaceuticals Board to consider September quarter results
Nov 08,2016

Relish Pharmaceuticals announced that the meeting of the Board of Directors of the Company will be held on 14 November 2016 inter alia, to transact the following business:

- To consider, adopt and approve Unaudited Financial Results for the quarter ended on 30 September 2016.

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Board of Mesco Pharmaceuticals to consider Q2 and HY results
Nov 08,2016

Mesco Pharmaceuticals announced that a meeting of the Board of Directors of the Company will be held on 14 November 2016, inter alia, to consider and take record the Un-audited Financial Results of the Company for the quarter and Half year ended 30 September 2016.

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Board of Mesco Pharmaceuticals to consider Q2 and HY results
Nov 08,2016

Mesco Pharmaceuticals announced that a meeting of the Board of Directors of the Company will be held on 14 November 2016, inter alia, to consider and take record the Un-audited Financial Results of the Company for the quarter and Half year ended 30 September 2016.

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Rudraksh Cap-Tech to announce September quarter results
Nov 08,2016

Rudraksh Cap-Tech announced that the meeting of the Board of Directors of the Company will be held on 11 November 2016, inter alia, to transact the following business:

- To consider, adopt and approve Unaudited Financial Results for the quarter ended on 30 September 2016.

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Rudraksh Cap-Tech to announce September quarter results
Nov 08,2016

Rudraksh Cap-Tech announced that the meeting of the Board of Directors of the Company will be held on 11 November 2016, inter alia, to transact the following business:

- To consider, adopt and approve Unaudited Financial Results for the quarter ended on 30 September 2016.

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Tata Motors moves north on foreign brokerage upgrade
Nov 08,2016

Meanwhile, the S&P BSE Sensex was up 22.86 points or 0.08% at 27,481.85.

On BSE, so far 5.79 lakh shares were traded in the counter as against average daily volume of 5.90 lakh shares in the past two weeks. The stock hit a high of Rs 535.40 and a low of Rs 516.30 so far during the day. The stock had hit a 52-week high of Rs 598.60 on 7 September 2016. The stock had hit a 52-week low of Rs 266 on 11 February 2016. The stock had underperformed the market over the past one month till 7 November 2016, sliding 10.32% compared with 2.15% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, declining 1.75% as against Sensexs 2.21% fall.

The large-cap company has equity capital of Rs 577.44 crore. Face value per share is Rs 2.

Meanwhile, Tata Motors before market hours today, 8 November 2016 in a clarification with regard to news item titled FIIs raise concerns over Tata Motors Governance said that it is not in receipt of any such letter as is referred to in the news article and hence, has no comments to offer.

Tata Motors consolidated net profit declined 57% to Rs 2260.40 crore on 10.1% rise in net sales to Rs 64940.12 crore in Q1 June 2016 over Q1 June 2015. The company will announce its Q2 results on 14 November 2016.

Tata Motors is a market leader in commercial vehicles in India. The companys British unit JLR sells premium luxury cars.

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Jainco Projects (India) to announce Q2 results
Nov 08,2016

Jainco Projects (India) announced that the meeting of Board of Directors of the company will be held on 14 November 2016, to consider the unaudited financial results for the second quarter ending 30 September 2016.

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Jainco Projects (India) to announce Q2 results
Nov 08,2016

Jainco Projects (India) announced that the meeting of Board of Directors of the company will be held on 14 November 2016, to consider the unaudited financial results for the second quarter ending 30 September 2016.

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Broad rally at Wall Street ahead of Presidential Election
Nov 08,2016

The stock market began the week on a broadly higher note on Monday, 07 November 2016 at Wall Street as diminished political uncertainty boosted risk appetite ahead of tomorrows US presidential race. U.S. stocks on Monday had their best day since March on a percentage basis after the Federal Bureau of Investigation said its review of a new batch of Democratic presidential nominee Hillary Clintons emails wont lead to charges. Gains were broad, with the Dow Jones Industrial Average reclaiming the key 18,000 level and the S&P 500 snapping its nine-day losing streak, the longest since 1980. The slide had been attributed partly to polls showing a closer contest between Clinton and Republican rival Donald Trump.

The Dow Jones Industrial Average soared 371.32 points, or 2.1%, to close at 18,259.60. The Nasdaq Composite Index climbed 119.80 points, or 2.4%, to end at 5,166.17. The S&P 500 index rose 46.34 points, or 2.2%, to finish at 2,131.52.

Financials, industrials, health care and technology paced the advance. The controlled action likely came with the understanding that the presidential race remains fairly tight.

In the financial sector, Goldman Sachs and J.P. Morgan Chase each gained more than 3%.

In the technology sector, Dow components Intel and Microsoft gained 3.2% and 3.0%, respectively. Intel finished at the top of the price-weighted average.

Todays economic data was limited to the Consumer Credit report for September. Total outstanding consumer credit increased by $19.3 billion in September (consensus $17.5 billion) after increasing an upwardly revised $26.8 billion (from $25.9 billion) in August.

The dollar saw big gains, with the ICE Dollar Index which measures the greenback against a half-dozen rivals, up 0.7%.

Gold was down sharply, after gaining 2.2% last week. December gold ended todays session down $24.60 (-1.9%) to $1279.90/oz. December silver closed todays session $0.21 lower (-1.1%) at $18.16/oz.

Oil prices rose more than 1%. Crude oil rallied off of 6-week lows hit on Friday, snapped its 6-session loss streak, saw a boost ahead of tomorrows Presidential election. December crude oil futures rose $0.74 (+1.7%) to $44.82/barrel.

Treasuries finished on a lower note as the long end of the curve underperformed. The yield on the 2-yr note finished higher by three basis points (0.82%) while the yield on the 10-yr note ended up five basis points (1.83%).

Todays trading volume was above the average of 861 million as more than 889 million shares changed hands at the NYSE floor.

Tomorrows economic data will be limited to the Job Openings and Labor Turnover Survey for September, which will be released at 10:00 ET.

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Sirhind Steel Board to consider September quarter results
Nov 08,2016

Sirhind Steel announced that a meeting of Board of Directors of the Company will be held on 11 November 2016, inter alia, to consider and take on record the Unaudited Financial Results for the Quarter ended 30 September 2016.

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Sirhind Steel Board to consider September quarter results
Nov 08,2016

Sirhind Steel announced that a meeting of Board of Directors of the Company will be held on 11 November 2016, inter alia, to consider and take on record the Unaudited Financial Results for the Quarter ended 30 September 2016.

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