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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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Maruti Suzuki India to pay dividend
Apr 28,2017

Maruti Suzuki India has announced Dividend payment date as 11 September 2017, subject to the approval of the shareholders in the ensuring AGM.

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New campaign gives fillip to Tourism in Rajasthan
Apr 28,2017

In the year 2016 the arrival of the number of tourists to Rajasthan seems encouraging with around 18 percent increase in the domestic tourist arrivals and around 3 percent in the foreign tourist arrivals. This statistics was quoted by Mr. NC Goel, Additional Chief Secretary, Tourism, Government of Rajasthan in his inaugural address at Great Indian Travel Bazaar (GITB) in Jaipur recently. The current trends in this year already indicate a quantum jump in the arrival of the tourists to the State. The new campaign is being credited for giving a fillip to the arrival of tourists. This marketing campaign was necessitated once it was realized that the tourist flow was stagnating owing to economic downturn, lesser variety of destinations as well as the entertainment facility in these destinations. Furthermore, the tourist destinations had become crowded, there was stiff competition from the neighbouring States and weak infrastructure in certain pockets. It was also realized that the urban Indian middle class was willing to spend on experiences. The State Tourism Department also perceived that there were changing preferences in the modes of communication with the preferred mode being the digital. The Government was also alive to the fact that road, rail and air infrastructure will have to be geared up and on these factors was designed the current creative print, electronic, digital and social media campaign of the Rajasthan Tourism.

Rajasthan, despite its strong and appealing tourism products had slipped from the top 5 States - after having been among the top 5 for several decades. The visit of the foreign tourists to the State decreased. However, following a national trend the arrival of the domestic tourists kept increasing.

The planned manner in which Rajasthan is now being presented as a tourist destination can be gauged by a major change on overall strategy, focus, centre-state relationship, increase in number of destinations as well attractions, unconventional experiences, social media boost and targeted intervention. For instance, earlier, the strategy for marketing Rajasthan was destination specific while now it is pre-dominantly theme specific. Similarly, the focus from being on heritage and legacy has now changed to a variety of tourism offering with proper segments defined and new products introduced. There is now a well coordinated and concerted action between the State and Centre agencies.

While earlier, there were 149 tourist spots across 13 destinations; there are now 25 major destinations with 30 forts, 39 palaces, 16 museums, 13 wildlife sanctuaries, 25 fairs and festivals, 8 types of adventure tourism across 11 locations and as many as 128 religious locations.

The report further reveals that Rajasthan now has umpteen unconventional experiences while there were only a handful earlier. The social media was a big zilch for marketing tourism while now it is an aggressive and integral part of the marketing plan. There is now also a well defined plan with targeted intervention while earlier it relied too much on word of mouth.

The focus of promoting Rajasthan as a tourism destination is now through new concepts, identifying and developing new destinations, strengthening the infrastructure, encouraging private investment, increasing connectivity and an aggressive marketing campaign.

The State economy, growing at a Compound Annual Growth Rate (CAGR) in excess of 12% for the period 2005-06 to 2015-16 has a considerable contribution from the tourism sector. The tertiary sector, of which tourism is a part, contributes approximately 48% to the State economy and is growing at a CAGR of 17.3% for the period under consideration, reveals the report.

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Shriram Transport Finance Company to pay final dividend
Apr 28,2017

Shriram Transport Finance Company announced that final dividend, subject to the approval of the shareholders at the AGM, will be paid on or after 04 July 2017.

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Medi Caps announces resignation of director
Apr 28,2017

Medi Caps announced that Dr. Keshav Singh Varma, Independent director of the Company, has resigned from the Board, which has been accepted on 28 April 2017.

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BHEL commissions 3 MW Solar PV Power Plant
Apr 28,2017

Bharat Heavy Electricals has commissioned a 3MW Solar PV Power Plant in Union Territory of Dadra and Nagar Haveli. BHEL has executed this project on turnkey basis for Dadra and Nagar Haveli Power Distribution Corporation at Velugam.

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Meininger Hotels and Fonciere des Regions signs fourth joint deal
Apr 28,2017

Cox & Kings owned Meininger Hotels and Fonciere des Regions, through its subsidiary Fonciere des Murs, signed an agreement for Meininger Hotel in Lyon, located on Rue Zimmermann, near city centre. The 169 room and 580 bed hotel is expected to open mid 2019. This is the fourth joint hotel deal of Meininger and Fonciere des Regions. Three further joint projects in Munich, Paris and Milan are under development.

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Vipul signs project development and construction contract with Leighton India
Apr 28,2017

Vipul announced that that it has signed a project development and construction contract with Leighton India, a leading international construction company for Phase - 1 of its project Aarohan at Golf Course Road in Gurgaon. Aarohan residences will be Leighton Indias fourth major construction project in India following Maker Maxity and TEN BKC both in Mumbai, IKEA retail outlet in Hyderabad and DLF Camelias in Delhi NCR.

AAROHAN constitutes three iconic towers with four apartments on each floor in each tower in the 1st Phase. The Total estimated area shall be 0.9 mn sq. ft. of Premium Residential space in the 1st Phase.

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EPF members now required to submit self-declaration for advance in case of illness of members/ dependents
Apr 28,2017

EPF members will now only be required to submit a self-declaration for the advance in case of illness of members/ dependents. Differently abled members will also get advance on the basis of self-declaration. A member will no longer be required to submit any medical certificate or any other certificate or document or proforma whatsoever to avail advances under paragraph 68-J or under paragraph 68-N of EPF Scheme 1952.

Ministry of Labour & Employment has amended Paragraph 68-J and Paragraph 68-N of Employees Provident Fund Scheme, 1952 and It will come into force from the date of its publication in the official Gazette. According to it, a member would only be required to submit a self-declaration, which has already been included in the composite claim form, to avail advance under the EPF Scheme in case of illness of members/ dependent and also in case of differently abled members.

This is in continuation of initiatives taken by EPFO as part of next phase of its e-governance reforms with a view to make the services of EPFO available to its stakeholder in an efficient and transparent manner. An administrative order was issued on 20.02.2017 in the matter of Introduction of Composite Claim Forms (Aadhar and Non-Aadhar ) to replace existing Claim Forms No. 19, 10C & 31 and Forms No. 19 (UAN), 10C(UAN) & 31 (UAN). EPFO has since implemented Universal Account Number (UAN) for its subscribers. It is now possible for subscribers, who have seeded their UAN with Aadhar Number and Bank account details, to submit claim forms directly to EPFO without the attestation of employers.

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Shoppers Stop intimates of change in shareholding in JV
Apr 28,2017

Shoppers Stop announced that the Companys shareholding in Nuance Group (India), a joint venture company has been reduced from 50% to 40% of the paid up share capital of NGIPL. The reduction in percentage aforesaid is on account of non-subscription of NGIPLs rights issue of equity shares by the Company.

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Board of Union Bank of India approves capital plan for FY 2017-18
Apr 28,2017

Union Bank of India announced that the Board of Directors has given following approvals in its meeting held on 28 April 2017:-

Approval of Capital Plan F.Y. 2017-18. To raise total Capital Funds up to Rs.6350 crore during the year 2017-18 in the form of Core Equity Capital and / or Additional Tier 1 (AT1) Bonds and / or Tier 2 Bonds, subject to maximum issue of Rs.4800 crore, within overall limit of Rs.6350 crore, of Additional Tier 1 (AT1) Bonds and / or Tier 2 Bonds.

To raise Equity Capital not exceeding Rs.4950 crore, within overall limit of Rs.6350 crore, during F.Y. 2017-18 through Public Issue (i.e. follow-on-Public Issue) and/or Rights Issue and/or Private Placement, including Qualified Institutional Placements and/or Preferential allotment the Government of India or other Institutions and/or any other mode(s) subject to necessary approval by the Government of India, other regulatory authorities and of the shareholders in the General Meeting as and when applicable.

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Indiabulls Real Estate leads losers in BSEs A group
Apr 28,2017

Indiabulls Real Estate slumped 5.62% at Rs 147.70 at 12:30 IST on BSE after consolidated net profit fell 3.73% to Rs 60.18 crore on 25.84% fall in total income to Rs 545.15 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 27 April 2017. The stock topped the losers in A group. On the BSE, 22.82 lakh shares were traded on the counter so far as against the average daily volumes of 99.92 lakh shares in the past two weeks.

Prestige Estates Projects shed 3.51% at Rs 237.60. The stock was the second biggest loser in A group. On the BSE, 40,000 shares were traded on the counter so far as against the average daily volumes of 68,000 shares in the past two weeks.

Adani Enterprises lost 3.37% at Rs 110.45. The stock was the third biggest loser in A group. On the BSE, 33.07 lakh shares were traded on the counter so far as against the average daily volumes of 40.96 lakh shares in the past two weeks.

Edelweiss Financial Services dropped 2.37% at Rs 164.85. The stock was the fourth biggest loser in A group. On the BSE, 1.87 lakh shares were traded on the counter so far as against the average daily volumes of 7.77 lakh shares in the past two weeks.

Network18 Media & Investments fell 2.36% at Rs 47.65. The stock was the fifth biggest loser in A group. On the BSE, 3.21 lakh shares were traded on the counter so far as against the average daily volumes of 6.93 lakh shares in the past two weeks.

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Board of Adinath Textiles approves change in director
Apr 28,2017

Adinath Textiles announced that the Board of Directors of the Company at its meeting held on 28 April 2017 has transacted the following business -

Approved appointment of Vishal Oswal as an Additional Director of the Company with effect from 01 May 2017.

Approved appointment of Vishal Oswal as Vice Chairman and MD of the Company with effect from 01 May 2017.

Approval of appointment of Ramesh Chander Juneja as an Additonal Director of the Company with effect from 01 May 2017.

Acceptance of resignation Arun Goel and R P Gupta, Independent Directors with effect from 01 May 2017.

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Uttam Sugar drops after poor Q4 results
Apr 28,2017

The result was announced after market hours yesterday, 27 April 2017.

Meanwhile, the S&P BSE Sensex was down 171.55 points or 0.57% at 29,858.19. The S&P BSE Small-Cap index was up 37.52 points or 0.25% at 15,317.01.

On the BSE, 86,000 shares were traded on the counter so far as against the average daily volumes of 61,000 shares in the past two weeks. The stock had hit a high of Rs 147.95 so far during the day, which is a 52-week high. The stock hit a low of Rs 135 so far during the day. The stock had hit a 52-week low of Rs 40 on 18 November 2016.

The small-cap company has equity capital of Rs 38.14 crore. Face value per share is Rs 10.

Uttam Sugar Mills is engaged in production of sugar, ethanol and generation of power. The company operates in three business segments: sugar, cogeneration and distillery

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Satra Properties vaults after plans to launch residential project
Apr 28,2017

The announcement was made after market hours yesterday, 27 April 2017.

Meanwhile, the S&P BSE Sensex was down 170.40 points, or 0.59%, to 29,853.68. The S&P BSE Small-Cap index was up 37.73 points, or 0.25%, to 15,317.22.

On the BSE, 3,010 shares were traded on the counter so far as against the average daily volumes of 5.69 lakh shares in the past one quarter. The stock had hit a high of Rs 6.66 and a low of Rs 6 so far during the day. The stock had hit a 52-week high of Rs 8.40 on 24 October 2016. The stock had hit a 52-week low of Rs 4.21 on 27 June 2016.

The small-cap company has equity capital of Rs 35.67 crore. Face value per share is Rs 2.

Satra Properties Indias net profit jumped 135.4% to Rs 3.72 crore on 41.5% fall in net sales to Rs 16.95 crore in Q3 December 2016 over Q3 December 2015.

Satra Properties India is a flagship company of Satra Group, established with a focus on construction and development of luxury apartments with introducing Mumbai to the concept of ultra-luxury living with lavish specifications presence.

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Indian Industry needs to develop transformative solutions to meet the countrys development needs: President of India
Apr 28,2017

Honble President of India urged Indian Industry to leverage CSR to re-imagine interventions and transformative solutions to address the large development challenges across India.

The President of India observed that the CSR legislation enhances the scale and scope of social programmes by Industry. He highlighted that industry CSR programs are extensive, including education, healthcare, and rural development, among others. Special outreach is being made for gender empowerment, differently abled citizens, and childrens issues.

The President added that given the magnitude of the challenges before our country and the relatively short time available to address them, it was important to collaborate to achieve scale and deliver solutions to complex social problems.

Mr Rahul Bajaj has played a key role in increasing India Incs global footprint and has led Indian industry through turbulent times. This Award is the highest recognition Indian industry accords members, and bears testimony to the personal integrity and leadership qualities of the recipient.

Mr. Rakesh Bharti Mittal, Vice President, CII stated that the CII Foundation Woman Exemplar Program is a key initiative that promotes womens empowerment at the community level, by discovering, recognizing and supporting grassroot women who rose beyond their limitations, and positively impacted their community. He added that the program supports and strengthens the women leaders through capacity building and a year-long mentoring process to help them scale. The program aspires to create a national level network of grassroots change agents, inspire and create many more, and induce a bottom up approach of women empowerment.

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