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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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Avance Technologies to hold board meeting
Feb 16,2017

Avance Technologies will hold a meeting of the Board of Directors of the Company on 3 March 2017.

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Cabinet approves Amending the Collection of Statistics Act, 2008 (7 of 2009)
Feb 16,2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved a proposal to introduce a Bill in Parliament to extend the jurisdiction of the Collection of Statistics Act, 2008 to Jammu & Kashmir on statistics relevant to any matters under any of the entries specified in the List-I (Union List) and the List- III (Concurrent List) in the Seventh Schedule to the Constitution, as applicable to Jammu & Kashmir under the Constitution (Application to Jammu & Kashmir) Order, 1954. The Amendment will strengthen data collection mechanism in the State of Jammu & Kashmir.

The Amendment will:

(a) Provide for extending the jurisdiction of the Act to Jammu & Kashmir State in respect of matters not reserved for the State as per the Constitution (Application to Jammu and Kashmir) Order 1954;

(b) Provide for appointing a nodal officer at the Centre and in each State/Union Territory to effectively coordinate data collection activities and provide consultation to Government Departments for avoiding unnecessary duplication, etc.

Background

The Collection of Statistics Act, 2008 was enacted to facilitate the collection of statistics on economics, demographic, social, scientific and environmental aspects etc. The Act extends to the whole of India, except Jammu & Kashmir. The Jammu & Kashmir State legislature enacted the Jammu & Kashmir Collection of Statistics Act, 2010, which extends to the whole of the State of Jammu & Kashmir and is almost a replica of the central legislation. The Collection of Statistics Act, 2008 and the Jammu & Kashmir Collection of Statistics Act, 2010 are not applicable to statistical subjects falling in the Union List, as applicable to the Jammu & Kashmir under the Constitution (Application to Jammu & Kashmir) Order 1954. This has created a legislative vacuum. Moreover, the concurrent jurisdiction to be exercised by the Centre in Jammu & Kashmir has also not been provided for, in the Collection of Statistics Act, 2008. The amendment is intended to address this vacuum.

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Asian Paints to acquire Causeway Paints Lanka
Feb 16,2017

Asian Paints announced that Berger International (BIPL), Singapore, indirect subsidiary of the Company, has entered into a Share Purchase Agreement with the existing shareholders of Causeway Paints Lanka (Private) (CPLPL), Sri Lanka, for acquisition of 100% stake in CPLPL in an all cash deal (transaction).

The aforesaid transaction is with an objective of enhancing the groups presence in the Sri Lankan market where the Company through its subsidiary Company, Asian Paints (Lanka), already has operations.

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Cabinet approves Establishment of FLRP at Amlaha, Sehore, Madhya Pradesh with Satellite Hubs in West Bengal & Rajasthan by ICARDA
Feb 16,2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved:

(i) The Establishment of Food Legumes Research Platform (FLRP) at Amlaha, Sehore, Madhya Pradesh with Satellite Hubs in West Bengal (for pulses) and Rajasthan (for Natural Resource Management) by ICARDA in the second phase; by International Center for Agricultural Research in Dry Areas (ICARDA);

(ii) Signing of lease deed with State Government of Madhya Pradesh for the land provided by them (70.99 hectares, 175.42 acre) at Amlaha Farm, Sehore on land rent of Rs. 1 per acre per year for 30 years on lease and to further lease it to ICARDA to establish the FLRP at Madhya Pradesh;

(iii) In principle approval of the Cabinet for conferring on the Food Legume Research Platform of ICARDA an international status as contemplated in Clause 3 of the United Nations (Privileges and Immunities) Act, 1947.

(iv) Authorizing the Department of Agricultural Research (DARE) on behalf of Government of India in all matters regarding establishment of the Platform.

(v) Authorizing the Ministry of Agriculture to carry out technical modifications in the Supplementary Agreement signed between ICAR and ICARDA relating to establishment of FLRP, if required.

The establishment of FLRP in India will enable India to harness the best of international science in meeting the emerging food security challenges. India would be able to rapidly and effectively absorb the research output achieved in the country by FLRP. A major international R&D institution will make India an even bigger center for agricultural research in the world and this in turn, will attract further research & development investment in the country.

This is a research set up by an international organization. ICARDA has a good track record of innovation, as in climate resilient technologies including suitable food legume varieties for dry-land production systems. ICARDA will carry out research through a multi-disciplinary team of scientists for enhancing productivity of crops range-land and livestock. This platform will contribute significantly towards reducing poverty, improving food security, improving nutrition and health, and sustaining the natural resource base.

The research output would benefit farmers of all regions, whether big, small or marginal; and as technologies developed would be eligible for use by all farmers, the project is equitable and inclusive.

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Hindustan Oil Exploration Company consortium awarded two contract areas
Feb 16,2017

Hindustan Oil Exploration Company announced the award of two contract areas to the company in consortia with Oil India, Prize Petroleum and other private company by the Government of India in the recently concluded bidding for Discovered Small Field Bids Round (DSF 2016).

One of the contract area is offshore field B-80, located in the Mumbai Offshore about 56 square kilometer discovered by ONGC in 1997. This discovered field produced about 3,737 barrels of oil and 7.5 million cubic feet of gas per day during the testing with in place reserves of about 13.20 million barrels of oil and gas in place of 10.50 billion cubic feet.

The other contract area is onshore field Kherem located in Arunachal Pradesh, discovered by Oil India in 1994 with the area of 16.45 square kilo meter, with initial oil in place of about 3 million barrels and gas in place of about 17 billion cubic feet.

HOEC has 50% participating interest in the offshore field B-80 and 40% in the onshore field Kherem. HOEC is the Operator for both the fields.

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Dr Reddys Laboratories gets unfavourable decision of US District Court
Feb 16,2017

Dr Reddys Laboratories announced that the United States District Court for the District of New Jersey issued its opinion regarding Helsinn Healthcares patent infringement claims against Dr Reddys Laboratories.

The Court found that Dr Reddys proposed palonosetron hydrochloride 0.25 mg / 5 ml product infringes claims of US patent Nos. 7947724, 8729094 and 9066980, and that the asserted claims of the 094 and 098 patents were not valid.

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Nestle India slips after weak Q4 results
Feb 16,2017

The result was announced after trading hours yesterday, 15 February 2017.

Meanwhile, the BSE Sensex was up 7.07 points, or 0.03%, to 28,162.63.

On the BSE, so far 1,385 shares were traded in the counter, compared with average daily volumes of 5,675 shares in the past one quarter. The stock had hit a high of Rs 6,126.85 and a low of Rs 5,957.20 so far during the day.

The stock hit a 52-week high of Rs 7,390 on 29 July 2016. The stock hit a 52-week low of Rs 4,990 on 29 February 2016.

The large-cap company has equity capital of Rs 96.42 crore. Face value per share is Rs 10.

Nestle Indias net profit rose 64.5% to Rs 926.54 crore on 12.8% increase in net sales to Rs 9159.28 crore in the year ended December 2016 over the year ended December 2015.

Nestle India is a subsidiary of Nestle S.A. of Switzerland. Nestle S.A. currently holds 62.76% stake in Nestle India (as per the shareholding pattern as at 31 December 2016).

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Honble Bombay High Court dismisses winding up petition against Ruchi Soya
Feb 16,2017

Ruchi Soya Industries announced that the Honble Bombay High Court has dismissed the winding up petition against Ruchi Soya filed by IDFC Bank. The order of dismissal was pronounced on 14 February 2017.

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Cabinet approves signing of Air Services Agreement between India and Rwanda
Feb 16,2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the signing of Air Services Agreement between India and Rwanda.

The Agreement has the potential to spur greater trade, investment, tourism and cultural exchange between India and Rwanda, bringing it in tune with developments in the civil aviation sector. It will provide enabling environment for enhanced and seamless connectivity while providing commercial opportunities to the carriers of both the sides ensuring greater safety and security.

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Gracious Software to hold board meeting
Feb 16,2017

Gracious Software will hold a meeting of the Board of Directors of the Company on 18 February 2017, to delist the Equity shares of the Company from Institutional Trading Platform of BSE Limited in terms of the provisions of Chapter XC of SEBI ICDR Regulations, 2009 as amended upto date;

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Northlink Fiscal and Capital Serv. to hold EGM
Feb 16,2017

Northlink Fiscal and Capital Serv. announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 16 March 2017.

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RCL Foods to hold board meeting
Feb 16,2017

RCL Foods will hold a meeting of the Board of Directors of the Company on 21 February 2017, to approve the Unaudited financial results of the Company for the Quarter ended 31 December 2016.

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Hindustan Everest Tools to hold board meeting
Feb 16,2017

Hindustan Everest Tools will hold a meeting of the Board of Directors of the Company on 20 February 2017, to consider and approve unaudited financial results for the quarter ending 31 December 2016.

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TCS gains after buyback proposal
Feb 16,2017

The announcement was made after trading hours yesterday, 15 February 2017.

Meanwhile, the BSE Sensex was up 59.33 points, or 0.21%, to 28,214.89.

On the BSE, so far 17,000 shares were traded in the counter, compared with average daily volumes of 1.01 lakh shares in the past one quarter. The stock had hit a high of Rs 2,477.50 and a low of Rs 2,448.05 so far during the day.

The stock hit a 52-week high of Rs 2,740 on 12 August 2016. The stock hit a 52-week low of Rs 2,054.70 on 15 November 2016.

The large-cap company has equity capital of Rs 197.04 crore. Face value per share is Re 1.

On a consolidated basis, TCS net profit rose 3.20% to Rs 6814 crore on 1.54% increase in net sales to Rs 29735 crore in Q3 December 2016 over Q2 September 2016.

TCS is an IT services, consulting and business solutions organization.

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Sasken Communication Technologies renamed as Sasken Technologies
Feb 16,2017

Sasken Communication Technologies announced that the Registrar of Companies, Bengaluru, Karnataka have issued a fresh Certificate of Incorporation on 14 February 2017 pursuant to change of name to Sasken Technologies. The said change is effective from 14 February 2017.

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