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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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Allow all state-run vehicles to move on ethanol based clean fuel: ASSOCHAM plea to Yogi Adityanath
Jul 26,2017

Apex industry body ASSOCHAM has urged the Uttar Pradesh chief minister, Yogi Adityanath to allow all state-run buses to move on from oil-based fuel (petrol, diesel) to alternative and environment-friendly fuel like ethanol.

n++Uttar Pradesh (UP) is Indias largest producer of ethanol for blending with petrol after Maharashtra, as such the state should promote use of cleaner-burning fuel from sugarcane as the move would result in twin benefits of reducing dependence on crude oil imports and carbon-emissions,n++ said ASSOCHAM national secretary general, Mr D.S. Rawat.

Second generation (2G) ethanol can be made using all types of agricultural residues like bagasse (cane-waste), rice and wheat straw, bamboo, cotton stalk, corn stover, wood chips and others.

Even the Union Road Transport, Highways and Shipping Minister, Mr Nitin Gadkari had talked about a similar idea to the UP chief minister.

n++I had proposed to the UP chief minister to promote use of ethanol as an alternate fuel in all types of bus services in the state, be it within cities or regional transport from district to district as UP leads India in ethanol production,n++ Mr Gadkari had said at an ASSOCHAM conference, India on cusp of logistics revolution, held in New Delhi on July 13.

ASSOCHAM has also urged the UP chief minister to accord priority towards improving the condition and use of public transport to discourage people from using their own vehicles as that would help reduce traffic/congestion on roads, reduce the number of road accidents and considerably bring down rising pollution levels across state.

n++Even the union government is laying thrust upon use of electric vehicles and green fuel like ethanol and is vigorously working towards promoting use of cost-effective, import-substitute, pollution-free and indigenous technology,n++ said Mr Rawat.

n++Such an initiative would not only help reduce pollution but will in-turn promote industrial development, bring down logistics costs, generate employment, increase economic growth and boost exports,n++ he added.

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Axis Bank, Bharti Airtel to react to poor Q1 results
Jul 26,2017

Bharti Airtels consolidated net profit fell 58.4% to Rs 617.70 crore on 14% decline in net sales to Rs 21958.10 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 25 July 2017.

Axis Banks net profit fell 16.1% to Rs 1305.60 crore on 1.4% growth in total income to Rs 14052.30 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 25 July 2017.

Hero MotoCorps net profit rose 3.5% to Rs 914.04 crore on 7.7% increase in net sales to Rs 7971.58 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 25 July 2017.

The companys EBITDA (earnings before interest, taxes, depreciation and amortization) rose 5.35% to Rs 1295.90 crore in Q1 June 2017 over Q1 June 2016.

Cipla and the product development partnership Medicines for Malaria Venture (MMV) announced the launch of 100 mg Artesunate Rectocaps/Rectal Artesunate Suppositories (RAS), a life-saving, pre-referral intervention for the management of severe malaria in young children. The announcement was made after market hours yesterday, 25 July 2017.

Initially developed by the World Health Organizations (WHO) Tropical Diseases Research programme, RAS 100 mg manufactured by Cipla was recently added to the Global Fund Expert Review Panels list of quality-assured medicines, while the process of WHO prequalification of this medicine moves through its final stages. This authorization makes it the first quality-assured RAS product.

Ciplas RAS product contains 100 mg of Artesunate and is indicated in children from 6 months to 6 years. It was developed with the support of MMV (with UNITAID financing) and will now soon be available in four sub-Saharan countries.

HDFC and Yes Bank are among the prominent companies that will be announcing their June quarter earnings today, 26 July 2017.

Pidilite Industries consolidated net profit fell 16.77% to Rs 226.51 crore on 2.58% decline in net sales to Rs 1528.92 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 25 July 2017.

National Fertilizers after market hours yesterday, 25 July 2017 said that the government will divest upto 7.35 crore shares or 15% stake in the company by way of offer for sale (OFS). The floor price for the OFS is Rs 72.80 per share. The OFS will remain open today, 26 July 2017 for non-retail investors and tomorrow, 27 July 2017 for retail investors and for non-retail investors who choose to carry forward their bids through the separate window provided for the purpose on the stock exchanges.

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Loyal Equipments proposes bonus issue
Jul 25,2017

Loyal Equipments announced plans to issue bonus shares. The Board of the Company will consider the proposal on 01 August 2017.

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Syndicate Bank receives revision in credit ratings
Jul 25,2017

Syndicate Bank has received revision in credit ratings from credit ratings agencies as under -

India Ratings has reaffirmed the rating of Additional Tier I bonds of the Bank at AA and Tier II bonds at AA+ while revising the outlook from Stable to Negative.

Moodys has affirmed the Banks local and foreign currency bank deposit ratings at Baa3/Prime-3. Moody has also affirmed senior unsecured medium term note (MTN) program at (P)Baa3 and senior unsecured debt rating at Baa3. The outlook wherever applicable has been changed from Positive to Stable

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Berger Paints India intimates of withdrawal of strike
Jul 25,2017

Berger Paints India announced that the union has withdrawn the strike at the Companys Goa Factory.

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National Fertilizer announces GoIs offer for sale of 15% stake
Jul 25,2017

National Fertilizer announced that The President of India, acting through and represented by the Ministry of Chemicals & Fertilizers, Government of India (the Seller), promoter of National Fertilizers (the Company) has Offered to sell up to 7,35,86,760 equity shares of the Company of face value of Rs. 10 each, representing 15% of the total paid up equity share capital of the Company (the Offer Shares) on 26 July 2017 (for non-Retail Investors) and 27 July 2017 (for Retail Investors and for non-Retail Investors who choose to carry forward their bids), through a separate, designated window of the BSE and the NSE.

The Floor Price for the Offer shall be Rs 72.80 per equity share of the Company.

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Board of Kilitch Drugs (India) approves preferential allotment of warrants
Jul 25,2017

Kilitch Drugs (India) announced that the Board of Directors of the Company at its meeting held on 25 July 2017 has approved to raise funds up to 21,00,000 warrants convertible into equity shares through preferential allotment to promoters of the Company.

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Duke Offshore increases its fleet size
Jul 25,2017

Duke Offshore has purchased another brand new high speed aluminium crew boat. The vessel is called Duke Express and will be used to support dredging operations and other up coming infrastructure construction activity in India.

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A2Z Infra Engineering announces resignation of director
Jul 25,2017

A2Z Infra Engineering announced the resignation of Prasad Yadav, Independent Director of the Company with effect from 24 July 2017.

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Viji Finance fixes record date for bonus issue
Jul 25,2017

Viji Finance has fixed 08 August 2017 as record date for bonus issue.

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Punjab National Bank raises Rs 1500 crore via issue of AT I Capital Bonds
Jul 25,2017

Punjab National Bank has raised Rs 1500 crore Additional Tier I (Basel III Compliant) Capital Bonds at a coupon of 8.98% p.a. on private placement basis.

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Bharti Airtel announces change in directorate
Jul 25,2017

Bharti Airtel announced that Sheikh Faisal Thani Al-Thani (non-executive director) has resigned from his position w.e.f 25 July 2017 and the board in its meeting held on 25 July 2017 has appointed Rashed Fahad Al-Noaimi as an additional director of the Company, in non-executive category. Al-Noaimi will hold office till the date of ensuing Annual General Meeting (AGM).

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VKJ Infradevelopers provides update on pricing of preferential issue of shares
Jul 25,2017

VKJ Infradevelopers announced that preferential issue is being made at a price of Rs 12 per share including a premium of Rs 11 per equity share.

At the Companys board meeting held on 14 July 2017, the Board of Directors had decided on the following -

To raise funds through preferential issue of equity shares and to acquire 100% stake in a company having a land spread in around 6 acres and to start a product of housing development involving cost of Rs 120 crore.

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Sambandam Spinning Mills gets revision in credit ratings
Jul 25,2017

Sambandam Spinning Mills announced that the credit rating for bank facilities and fixed deposits have been revised by CRISIL Rating Agency as under -

Long term bank facilities - CRISIL BB-/ Stable (Upgraded from CRISIL B+/Stable)

Short term bank facilities - CRISIL A4+ (Upgraded from CRISIL A4)
Fixed Deposits - FB+/ Stable (Rating retained)

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Gokak Textiles announces resignation of director
Jul 25,2017

Gokak Textiles announced that Zarine Commissariat, Director of the Company has resigned from the Board of the Company with effect from 20 July 2017.

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