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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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Fertilizer stocks gain on FMs impetus to agri sector in Budget 2017-18
Feb 01,2017

National Fertilizers (up 5.72%), Coromandel International (up 4.19%), Deepak Fertilisers & Petrochemicals Corporation (up 4.07%), Fertilizers & Chemicals Travancore (up 3.85%), Gujarat Narmada Valley Fertilizers & Chemicals (up 1.34%) and Gujarat State Fertlizers & Chemicals (up 0.74%) edged higher. Chambal Fertilisers & Chemicals (down 3.22%) and Rashtriya Chemicals & Fertilizers (down 0.09%) edged lower.

Meanwhile, the S&P BSE Sensex was up 415.36 points or 1.5% at 28,071.32.

Among a slew of measures, the Finance Minister raised agriculture credit to farmers to a record Rs 10 lakh crore for FY 2018. This is against the governments agriculture credit target of Rs 9 lakh crore for the ongoing financial year (FY 2017). The finance minister said that the agriculture sector will grow at 4.1% in FY 2017, adding that the total area sown under Rabi and Kharif season is more than last year.

Jaitley said that the coverage under Pradhan Mantri Fasal Bima Yojana will be increased from 30% to 40% in 2017-18 and 50% in 2018-19.

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SRF provides update on its greenfield packaging film line project in Indore
Feb 01,2017

SRF announced that trial production of BOPET film has started in a new greenfield packaging film line project in the Domestic Tariff Area, Indore.

The project is likely to be commissioned, capitalized and start commercial production in next few days, which will be communicated separately.

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Yash Papers provides production update
Feb 01,2017

Yash Papers announced that Unit - 2 of the Company has recorded highest ever monthly production of paper i.e. 814 MT in January, 2017.

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Ashok Leyland announces sales figures
Feb 01,2017

Ashok Leyland has reported total sale of 14872 units in January 2017 compared to 13886 units in January 2016, recording a growth of 7%. For the period, April- January 2017, total sales were 112317 units, recording a growth of 2% over the corresponding period of pervious year.

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Cabinet approves Extension of tenure of loans under the Credit Linked Subsidy Scheme (CLSS) of Pradhan Mantri AwasYojana (PMAY) from 15 to 20 years
Feb 01,2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given ex-post facto approval to the proposals for

(i) Extension of tenure of loans under the Credit Linked Subsidy Scheme (CLSS) vertical of Pradhan MantriAwasYojana (Urban) Mission from 15 to 20 years (to be renamed as CLSS for EWS/LIG. It will be named as CLSS for economically weaker sections of society / Lower Income Group;

(ii) Introduction of a new Credit-Linked Subsidy Scheme for MIGn++ for targeting the MIG category;

(iii) Allowing the Primary Lending Institutions (PLIs) that have signed MoU with the Central Nodal Agencies (CNAs), under the CLSS vertical of PMAY(Urban) (now CLSS for EWS/LIG), the option to extend the mandate of their MoU to CLSS for MIG with appropriate changes as applicable;

(iv) For rationalizing/introducing the processing fees payable to the PLIs for the loans sanctioned under these schemes;

(v) Allocation of Rs. 1000 crore initially in the budget for 2017-18 at the BE stage for the proposed CLSS for MIG and

(vi) Issue of the operational guidelines for CLSS for MIG with approval of the Minister-in-charge.

Objectives

a. Increase the off-take in EWS and LIG segments under existing Pradhan Mantri Awas Yojana (Urban) - Housing for All Mission;

b. Outreach to the Middle Income Group (MIG);

c. Make procedures easy for the Primary Lending Institutions (PLIs);

d. Provide an incentive to PLIs for increased participation in the housing and urban development sector;

e. Make available funds through necessary funds through Budgetary provisions and

f. Clearly define the procedure /implementation of programmes.

The outreach of the schemes will ensure greater participation amongst the EWS, LIG and MIG segment of the society to provide Housing for All by 2022, thereby ensuring equity and inclusiveness.

The interest subsidy to be disbursed to the beneficiaries will be credited to their home loan accounts after the PLIs have satisfied the eligibility criteria through their due diligence processes.

The proposed interest subsidy scheme for the MIG is an innovative approach to address the needs of housing of this category.

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NTPC declares commercial operations for 1st unit of 660 MW Mouda Super Thermal Power Station
Feb 01,2017

NTPC announced that 1st Unit of 660 MW of Mouda Super Thermal Power Station Stage-II (2 X 660 MW) is declared on commercial operation w.e.f 00:00 Hrs of 01 February 2017.

With this, the commercial capacity of Mouda Super Thermal Power Station, NTPC and NTPC group has become 1660 MW, 40262 MW and 46838 MW respectively.

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RBI mandates Kotak Mahindra Bank to bring down promoter shareholding
Feb 01,2017

Kotak Mahindra Bank has received a communication from the Reserve Bank of India to bring down its promoter shareholding to 30% by 30 June 2017, 20% by 31 December 2018 and 15% by 31 March 2020.

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TCPL Packaging commences commercial production at FPU unit in Silvassa
Feb 01,2017

TCPL Packaging announced that the commercial production of the Companys Flexible Packaging Unit (FPU) situated at village Dapada, Silvassa in the Union Territory of Dadra and Nagar Haveli, has commenced from 01 February 2017.

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Eicher Motors announces sales figures
Feb 01,2017

Eicher Motors has announced total sales of 59676 units in January 2017 compared to 47710 units in January 2016, recording a growth of 25%. Total sales for the period April - January 2017 stood higher by 34% at 547938 units compared to corresponding period of previous year.

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Cabinet approves Introduction of The Indian Institutes of Information Technology (Amendment) Bill, 2017 in Parliament
Feb 01,2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval for introduction of The Indian Institutes of Information Technology (Amendment) Bill, 2017 in Parliament.

The amendment Bill provides for inclusion of Indian Institute of Information Technology Design and Manufacturing (IIITDM), Kurnool along with the other IITs in the Principal Act. Subsequently, IITDM Kurnool will be declared as an institute of National Importance with the power to award degrees to students

The expenditure for the operationalization of IITDM Kurnool is incurred from the Plan funds of the Ministry of Human Resource Development.

The emerging needs of the industry and the economy, as a whole for skilled technical manpower is expected to be met from the talent pool of trained personnel of the Institute. The Institute shall be open to all persons irrespective of gender, caste, creed, disability, domicile, ethnicity, social or economic background.

Background

The Indian Institutes of Information Technology Act, 2014 confers the status of Institutions of National Importance on the IIITs and also provides for matters connected with administering these IIITs. Subsequently, the Government has approved creation of a new NIT at Kurnool in Andhra Pradesh as embodied in the Andhra Pradesh Reorganization Act, 2014. Due to addition of a new IIIT, amendment has to be made in the IIIT Act, 2014. With this, IIITDM. Kurnool will be the fifth Member as a Centrally Funded IIIT.

Academic session has commenced in IITDM Kurnool in two branches of study in 2015-16.

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Dhanuka Commercial shifts registered office
Feb 01,2017

Dhanuka Commercial announced that the Registered office of the Company with effect from 23 January 2017 has been shifted to 255, 2nd Floor, Aggarwal City Plaza, Manglam Place, Sector-3, Rohini, near M2K, Delhi-110085.

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Cummins India announces cessation of director
Feb 01,2017

Cummins India announced that J. M. Barrowman, Alternate Director to Norbert Nusterer has ceased to be a Director of the Company effective 31 January 2017, on account of arrival of Norbert Nusterer in India.

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Cummins India announces change in directorate
Feb 01,2017

Cummins India announced that Nicole McDonald, Alternate Director to Suzanne Wells has ceased to be a Director of the Company effective 31 January 2017, on account of arrival of Wells in India.

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Petronet LNG gains on favorable announcement in Union Budget 2017-18
Feb 01,2017

Meanwhile, the S&P BSE Sensex was up 281.87 points or 1.02% at 27,937.83

On the BSE, 2.57 lakh shares were traded on the counter so far as against the average daily volumes of 1.39 lakh shares in the past two weeks. The stock had hit a high of Rs 390.80 and a low of Rs 371.10 so far during the day.

Petronet LNGs net profit rose 81.7% to Rs 459.56 crore on 12.6% decline in net sales to Rs 6338.51 crore in Q2 September 2016 over Q2 September 2015.

Petronet LNG was formed as a joint venture by the Government of India to import liquified natural gas (LNG) and set up LNG terminals in the country.

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DIL intimates of fire incident at subsidiarys manufacturing facility
Feb 01,2017

DIL announced that there was a fire incident in one of the production units at the manufacturing facility of FBL (a subsidiary of DIL), located at Village Takoli, P.O. Nagwain, Dist. Mandi - 175 121, Himachal Pradesh, India on 31 January 2017 at 12:30 p.m.

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