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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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SBI inches up after insurance arm files DRHP for IPO
Jul 18,2017

The announcement was made after market hours yesterday, 17 July 2017.

Meanwhile, the S&P BSE Sensex was down 194.52 points or 0.61% at 31,880.26.

On the BSE, 94,000 shares were traded on the counter so far as against the average daily volumes of 13.26 lakh shares in the past one quarter. The stock had hit a high of Rs 294.55 and a low of Rs 291.30 so far during the day. The stock had hit a 52-week high of Rs 315 on 19 May 2017 and a 52-week low of Rs 222.15 on 22 July 2016.

The stock had underperformed the market over the past one month till 17 July 2017, advancing 2.43% compared with the Sensexs 3.28% rise. The stock had also underperformed the market over the past one quarter, gaining 1.09% as against the Sensexs 9.05% rise. The scrip had, however, outperformed the market over the past one year, surging 26.48% as against the Sensexs 15.23% rise.

The large-cap state-run bank has equity capital of Rs 863.21 crore. Face value per share is Rs 1.

State Bank of India announced that its subsidiary, SBI Life Insurance Company has filed a draft red herring prospectus with the Sebi for an initial public offer of up to 12 crore equity shares of face value of Rs 10 each, representing up to 12% of its paid up equity share capital for cash, through an offer for sale (OFS) by State Bank of India and BNP Paribas Cardif S.A of up to 8 crore equity shares (representing 8% of the paid up share capital) and up to 4 crore equity shares (representing 4% of the paid up share capital), respectively.

The offer includes a proposed reservation of up to 1.20 crore equity shares for State Bank shareholders and a reservation of up to 20 lakh equity shares for eligible employees as part of the offer.

State Ban of Indias net profit surged 122.7% to Rs 2814.82 crore on 7.8% growth in total income to Rs 57720.07 crore in Q4 March 2017 over Q4 March 2016.

Government of India held 57.07% stake in State Bank of India (as on 12 June 2017).

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MoU Signed between Department of Defence Production and BEL
Jul 18,2017

Bharat Electronics Limited (BEL), a Navratna Schedule A Central Public Sector Enterprise (CPSE) under the Department of Defence Production, Ministry of Defence signed a Memorandum of Understanding (MoU) for the financial year 2017-18 with the Ministry. The annual MoU was signed between Secretary (Defence Production) Shri Ashok Kumar Gupta on behalf of the Ministry of Defence and Chairman and Managing Director, BEL Shri MV Gowtama.

The revenue from operations has been targeted at Rs. 9000 crore. The Operating Profit to Revenue from Operations target has been set at 14 percent and PAT to Average Networth has been set at 15 percent.

Turnover from exports and increase in indigenous content are given additional focus during the year, along with other parameters like CAPEX investment and Monitoring of CAPEX projects, Reduction in Trade Receivables, and HR related parameters.

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Ramkrishna Forgings announces closure of QIP issue
Jul 18,2017

Ramkrishna Forgings announced that the QIP Committee of the Company at its meeting held on 18 July 2017 has inter alia passed the following resolutions:

a. Approved the closure of the QIP today i.e. 18 July 2017;

b. Approved the issue price of Rs. 510 per Equity Share, which is at a discount of Rs. 13.84 per Equity Share, to the Floor Price of Rs. 523.84 per Equity Share, for the Equity Shares to be allotted to eligible qualified institutional buyers pursuant to the QIP; and

c. Approved and adopted the placement document dated 18 July 2017 in connection with the QIP.

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ACC hits record high after posting strong Q2 results
Jul 18,2017

The result was announced after market hours yesterday, 17 July 2017.

Meanwhile, the S&P BSE Sensex was down 236.58 points, or 0.74% to 31,838.20.

On the BSE, 7,532 shares were traded in the counter so far, compared with average daily volumes of 36,365 shares in the past one quarter. The stock had hit a high of Rs 1,798.85, which is also a record high for the stock. The stock hit a low of Rs 1,765 so far during the day.

ACC said that cement sales volume rose 10.1% to 6.74 million tonnes in Q2 June 2017 over Q2 June 2016. Operating earnings before interest, taxes, depreciation and amortization (EBITDA) rose 38% to Rs 637 crore in Q2 June 2017 over Q2 June 2016. Operating EBITDA margin improved to 19% in Q2 June 2017 from 16% in Q2 June 2016.

ACC approved payment of an interim dividend of Rs 11 per share for the year ending 31 December 2017 (FY 2017).

In its outlook, company said that it expects upward trajectory in cement demand supported by the prospects of a normal monsoon. Growing momentum in the launching of smart cities and urban infrastructure development & housing projects, together with the implementation of GST will also bring growth opportunities for the sector.

ACC is a manufacturer of cement and concrete and is a member of LafargeHolcim group. The company has a countrywide network of modern cement and concrete plants, sales offices, dealers and retailers.

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ACC may advance on strong Q2 results
Jul 18,2017

ACCs consolidated net profit rose 32.65% to Rs 326.23 crore on 20.32% rise in total income to Rs 3985.40 crore in Q2 June 2017 over Q2 June 2016. The result was announced after market hours yesterday, 17 July 2017. ACC said that cement sales volume rose 10.1% to 6.74 million tonnes in Q2 June 2017 over Q2 June 2016. Operating earnings before interest, taxes, depreciation and amortization (EBITDA) rose 38% to Rs 637 crore in Q2 June 2017 over Q2 June 2016. Operating EBITDA margin improved to 19% in Q2 June 2017 from 16% in Q2 June 2016.

State Bank of India announced that its subsidiary, SBI Life Insurance Company has filed a draft red herring prospectus with the SEBI for an initial public offer of up to 12 crore equity shares of face value of Rs 10 each, representing 12% of its paid up equity share capital for cash, through an offer for sale by State Bank of India and BNP Paribas Cardif S.A of up to 8 crore equity shares (representing 8% of the paid up share capital) and up to 4 crore equity shares (representing 4% of the paid up share capital), respectively. The announcement was made after market hours yesterday, 17 July 2017.

Axis Bank has reviewed and decided to keep the Marginal Cost of Funds based Lending Rates (MCLR) of the bank unchanged. This will be effective from 18 July 2017. The announcement was made after market hours yesterday, 17 July 2017.

Tata Consultancy Services announced that Zions Bancorporation has gone live on TCS BaNCS for core banking with successful transition of Zion Bancorporations consumer lending business over to the TCS BaNCS platform. The announcement was made after market hours yesterday, 17 July 2017.

Shares of Dr Reddys Laboratories turn ex-dividend today, 18 July 2017 for dividend of Rs 20 per share for the year ended 31 March 2017.

CRISIL and UltraTech Cement will announce April-June 2017 results today, 18 July 2017.

Indiabulls Real Estate scheduled a board meeting on 24 July 2017, to consider issuance of Non-Convertible Redeemable Debentures, on private placement basis. The announcement was made after market hours yesterday, 17 July 2017.

C & C Constructions has executed a definite term sheet for sale of its entire stake in two of its road SPVs. The sale process is likely to be completed in around three months. The board has already granted its permission for the same. The announcement was made after market hours yesterday, 17 July 2017.

Zee Media Corporation announced that the company has established a wholly owned subsidiary in the name and style of Ez-Mall Online and has subscribed to 700 equity shares of Re. 1 each therein. This wholly owned subsidiary shall engage in web-based e-commerce business, to complement TV-based e-commerce business currently housed under companys 49% associate entities viz., Today Merchandise and Today Retail Network. The announcement was made after market hours yesterday, 17 July 2017.

Shriram Transport Finance Company announced that the Allotment Committee - Non-Convertible Debentures (NCDs) of the company in its meeting held 17 July 2017 has approved and allotted 3,000 Secured Redeemable Rated Listed Non-Convertible Debenture of face value of Rs 10 lakh each, aggregating to Rs 300 crore on private placement basis. The announcement was made after market hours yesterday, 17 July 2017.

NHPC said that the meeting of board of directors is scheduled to be held on 27 July 2017 to consider the proposal of raising corporate debentures/bonds aggregating to Rs 5000 crore on private placement Basis subject to Shareholders Approval through special resolution in the next Annual General Meeting of the company. The announcement was made after market hours yesterday, 17 July 2017.

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SBI Life Insurance Company files DRHP for IPO
Jul 17,2017

State Bank of India announced that its subsidiary, SBI Life Insurance Company has filed a draft red herring prospectus with the SEBI for an initial public offer of up to 120,000,000 equity shares of face value of Rs 10 each, representing 12% of its paid up equity share capital for cash, through an offer for sale by State Bank of India and BNP Paribas Cardif S.A of up to 80,000,000 equity shares (representing 8% of the paid up share capital) and up to 40,000,000 equity shares (representing 4% of the paid up share capital), respectively.

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RBL Bank allots 2,581,234 equity shares
Jul 17,2017

RBL Bank has allotted 2,581,234 (Twenty Five Lac Eighty One Thousand Two Hundred & Thirty Four) equity shares of face value Rs. 10 each on 17 July 2017 under the ESOP Schemes of the Bank.

Consequent to the above allotment, the paid up share capital of the Bank has increased from 376,723,798 equity shares of Rs. 10 each aggregating Rs. 3,767,237,980 to 379,305,032 equity shares of Rs. 10 each aggregating Rs. 3,793,050,320.

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Axis Bank allots 7,550 equity shares
Jul 17,2017

Axis Bank has allotted 7,550 equity shares of Rs. 2/- each on 17 July 2017, pursuant to exercise of options under its ESOP Scheme.

The paid up share capital of the Bank will accordingly increase from Rs. 479,43,53,918 (239,71,76,959 equity shares of Rs. 2/- each) to Rs. 479,43,69,018 (239,71,84,509 equity shares of Rs. 2/- each).

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Wall Street Finance appoints Co-CEOs for MTSS and Forex businesses
Jul 17,2017

Wall Street Finance announced the appointment of Arun Ajmera, CEO of the Company as Additional Director and designated as Whole Time Director and Co-Chief Executive Officer for MTSS business. N. Srikrishna has been appointed as Co-Chief Executive Officer for Forex business. The appointments were approved by the Board of the Company at its meeting held on 17 July 2017.

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Sai Baba Investment and Commercial Enterprises revises record date for sub-division of shares
Jul 17,2017

Sai Baba Investment and Commercial Enterprises has revised the record date for purpose of sub-division of equity shares from 24 July 2017 to 28 July 2017.

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Axis Bank keeps MCLR rates unchanged
Jul 17,2017

Axis Bank has reviewed and decided to keep the MCLRs of the Bank unchanged. This will be effective from 18th July, 2017.

Overnight - 7.80%
One month - 7.80%
Three month - 8.00%
Six month - 8.15%
One year - 8.25%
Two year - 8.30%
Three year - 8.35%

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C & C Constructions enters pact to sell stake in two road SPVs
Jul 17,2017

C & C Constructions has executed a definite term sheet for sale of its entire stake in two of its road SPVs.

The sale process is likely to be completed in around three months.

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Zee Media Corporation incorporates subsidiary - Ez-Mall Online
Jul 17,2017

Zee Media Corporation announced that the Company has established a wholly owned subsidiary in the name and style of Ez-Mall Online (CIN - U74999MH2017PLC296408) and has subscribed to 700 Equity Shares of Re. 1 each therein. This wholly owned subsidiary shall engage in web-based e-commerce business, to complement TV-based e-commerce business currently housed under Companys 49% Associate entities viz., Today Merchandise and Today Retail Network.

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Sharda Motor Industries fixes record date for final dividend
Jul 17,2017

Sharda Motor Industries has fixed 23 August 2017 as record date for payment of final dividend.

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Board of Anik Industries appoints director
Jul 17,2017

The Board of Directors of Anik Industries at its meeting held on 17 July 2017 has approved the appointment of Shivam Asthana as whole-time Director of the Company for a period of 3 years w.e.f. 18 July 2017 subject to approval of the members in next general meeting.

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