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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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CSIRs Initiatives for enabling the Indian Leather Industry
Nov 03,2016

CSIR has come out with a n++Game changing technologyn++ for enabling the Indian leather sector achieve the set target of USD 27 billion by 2020 by making leather processing environmentally sustainable. This n++Waterless chrome tanning technologyn++ is a first of its kind technology to reduce chromium pollution load.

The Union Minister for Science and Technology and Earth Sciences and Vice President CSIR, Dr. Harsh Vardhan, informed. The Minister highlighted the strategic role of CSIR in the exemplary growth of the Indian Leather industry.

Tracing the history of Central Leather Research Institute (CLRI) of CSIR, established in 1948, Dr. Harsh Vardhan said that this was a unique institute which from the very start had a strong academic and industrial linkage. A tripartite arrangement of industry-academy-research is a first of its kind, which is a role model for other sectors to emulate. The Institute represents the leather sector in all its planning and policy development. Over the years, the Institute is the global hub for transformation of a tradition bound industry into an innovation driven one. Technologies for bio-processing of leather, zero waste water discharge, value added materials from leather and indigenous chemicals for processing, are some of the highlighting features of this institute. CSIR-CLRI is a recognised Centre for testing of restricted substances, finished leather certification. CSIR-CLRI in association with other world bodies develops protocols for testing of restricted chemicals.

The Minister was proud to inform that CSIR Researchers today also adorn the position of Chairman of the BIS committees on leather, tanning materials etc. and footwear and also provide inputs to other committees as members. CSIR researchers are also members/chairmen for the relevant committees in International Standards Organization (ISO).

Through the Institute, Indian leather sector strives to achieve economic and environmental sustainability, leading to more than doubling of the annual turnover from the present in about 4 years. CSIR has been hand holding the industry since its establishment and has taken the export turnover of Rs.40 crores in 1960s to Rs.40,000 crores in 2015 through technological interventions, training and service. The re-enabling of the tanneries in Tamil Nadu in 1996 stands a strong testimony to the contributions of this organisation.

The Minister further elaborated that Chromium is the most sought after tanning agent with about 2.0 billion sq. ft. of leather being made in India. About 20 thousand tons of chrome tanning agent is discharged in the wastewater. CSIRs n++Waterless tanning technologyn++ has now found PAN INDIA acceptance, with tanners in all clusters enrolling for its adoption. Significance of this technology is that a) it completely eliminates two processes before and after tanning, b) eliminates the use of water in tanning, c) reduces the total dissolved solids in wastewater from this process by 20% and also d) brings down the usage of chromium by 15-20%, resulting in material saving. Efforts are now on to translate this technology both nationally and globally. Several countries including Ethiopia, South Africa, the Netherlands, New Zealand, Vietnam and Brazil have evinced interest in this CSIR technology.

Dr. Harsh Vardhan, then highlighted that such technological interventions in the leather industry will realise the vision of Make-in-India, in terms of development of first of its kind leather chemicals, environmental friendly leather processing, global fashion forecasting for colours, designs thus leading to increased trade and exports.

Growth of any industry strongly depends on the availability of associated skill as well. CSIR has a strong mandate to develop, train and re-train the required manpower for this sector. The Minister highlighted that Prime Ministers Skill India dream is realised through training programs of CSIR-CLRI. About 60% of the skilled manpower in leather industry is from CSIR-CLRI. Training comes at all levels, be it the technical degrees or vocational programs, the Institute has tailor made programs to suit the needs of the industry, from time to time including reaching the unreached and under-privileged sections of the society.

Dr. Harsh Vardhan informed that CSIR has prepared and submitted to the Government, a Technology Mission plan for Leather sector at a cost of approximately Rs.2400 crores. This initiative is a inter-ministerial project with M/o Small and Medium Enterprises, M/o Skill Development, M/o Environment and Forest, M/o Water Resources. Through this plan, it is envisioned to provide proactive measures to upgrade and expand the technologies and thus the capacity of CETPs, along with skill development required. The envisioned modules include

a. Systematic collection of raw hides/skins

b. Technologies for capacity utilization of tanneries

c. Enhanced environmental management

d. Framework for quality benchmarking and certification

Over the years, CSIR is the global hub for transformation of a tradition bound leather industry into an innovation driven one. CSIR-CLRIs role in R&D consultancy has the paved way for other sectors like metal, food, pharma and chemicals for similar interventions and positioning themselves globally.

The mission of CSIR through CLRI is to meet the requirements of global leather sector, relevant regulatory and statutory bodies and other stake holders with continual improvement in its services, while aligning itself to the National agenda through technology innovation led solutions for the sector.

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NMDC fixes iron ore prices
Nov 03,2016

NMDC with effect from 03rd November 2016 has fixed the prices of Lump Ore and Fines at Rs 2,100 and Rs 1,760 WMT excluding Royalty, DMF, NMET, Cess, Forest Permit Fee etc.

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Global air freight surges 6.1% in September 2016
Nov 03,2016

The International Air Transport Association (IATA) released data for global air freight markets in September 2016 showing that demand, measured in freight tonne kilometers (FTKs), rose 6.1% year-on-year. This was the fastest pace of growth since the disruption caused by the US West Coast seaports strike in February 2015.

Freight capacity, measured in available freight tonne kilometers (AFTKs), increased 4.7% over the same period. Load factors remained historically low, keeping yields under pressure.

Septembers positive performance coincided with an apparent turnaround in new export orders in recent months. Some unique factors also may have contributed, such as the rush replacement of Samsung Galaxy Note 7 devices during the month, as well as the early impacts of the collapse of the Hanjin marine shipping line at the end of August.

Demand for air cargo strengthened in September. Although with growth in world trade virtually at a standstill, the air cargo sector still faces some major hurdles. We did have some encouraging news. The conclusion of the EU-Canada Free Trade Agreement is good news for the economies involved and for air cargo. Growth is the way to overcome the worlds current economic challenges. The EU-Canada agreement is a welcome respite from the current protectionist rhetoric and positive results should soon be evident. Governments everywhere should take note and move in the same direction, said Alexandre de Juniac, IATAs Director General and CEO.

Regional Performance

Airlines in all regions except Latin America reported an increase in year-on-year demand in September. However results continued to vary considerably.

Asia-Pacific airlines saw freight volumes increase by 5.5% in September 2016 compared to the same period last year. Capacity in the region expanded 3.4%.The positive Asia-Pacific performance corresponds with signs of an increase in export orders in China and Japan over the last few months. Seasonally-adjusted freight results for Asia-Pacific carriers are now trending upwards.

European airlines experienced a 12.6% increase in freight volumes in September 2016. Capacity increased 6.4%. The strong European performance corresponds with an increase in reported new export orders in Germany over the last few months.

North American carriers saw freight volumes expand 4.5% in September 2016 year-on-year, as capacity increased 2.6%. International freight volumes grew by 6.2% - their fastest pace since the US seaports disruption boosted demand in February 2015. However, in seasonally-adjusted terms volumes are still just below the level seen in January 2015. The strength of the US dollar continues to keep the US export market under pressure.

Middle Eastern carriers saw demand growth slow for the third consecutive month to 1.2% year-on-year in September 2016 - the slowest pace since July 2009. Capacity increased by 6.2%. Seasonally-adjusted freight growth, which had been trending upwards until the past year or so year, has now halted. This turnaround in performance is partly due to weaker conditions in the Middle East-to-Asia and Middle East-to-North America markets.

Latin American airlinesreported a decline in demand of 4.5% and a drop in capacity of 4.7% in September 2016, compared to the same period in 2015. The within South America market has been the weakest performing market so far this year with volumes contracting 14% year-on-year in August, the most recent month for which route specific data are available. The comparative strength of the US economy has helped boost volumes between North and South America with US imports by air from Colombia and Brazil increasing by 5% and 13% year-on-year respectively.

African carriers saw freight demand increase by 12.7% in September 2016 compared to the same month last year - the fastest rate in nearly two years. Capacity surged year-on-year by 34% on the back of long-haul expansion in particular by Ethiopian Airlines and North African carriers.

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Geojit BNP Paribas Financial Services allots equity shares
Nov 03,2016

Geojit BNP Paribas Financial Services has allotted 1, 48,099 equity shares of the face value of Re 1 each to employees of the Company and its subsidiaries upon exercise of stock options under Employees Stock Option Plan 2010 (Tranch II, Tranch III and Tranch IV).

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Growth of services output gathers pace in October: Nikkei India Services PMI
Nov 03,2016

A solid and accelerated upturn in incoming new business placed with Indian service providers led companies to scale up activity during October. Survey data indicated that this placed pressure on firms capacity as backlogs of work rose further, but employment levels were unchanged over the month. Input costs increased again, although at a marginal rate that was softer than in September. As for output prices, these were broadly unchanged.

At 54.5 in October, the seasonally adjusted Nikkei Services Business Activity Index recorded above the no-change mark of 50.0 for the sixteenth straight month, highlighting ongoing growth in the sector. Rising from 52.0 in September, the latest figure was consistent with an accelerated rate of expansion that was marked overall.

Manufacturing production also increased at a quicker rate, one that was the fastest in 46 months. Subsequently, the seasonally adjusted Nikkei India Composite PMI Output Index rose from 52.4 in September to 55.4 in October. This pointed to a marked pace of expansion in private sector activity that was the quickest in nearly four years.

Boosting growth of services output was a pick-up in new orders, which expanded at a solid pace that was faster than in September. According to panellists, the upturn was supported by greater client requests and improved demand conditions. Manufacturing order books also rose at a quicker pace, with growth climbing to a 22-month high.

October data highlighted ongoing pressures on Indian service providers capacity, as unfinished business volumes rose for the fifth consecutive month. Little-changed since September, the overall rate of backlog accumulation was solid. A similar trend was seen among manufacturers, where outstanding business rose solidly.

Service sector employment was unchanged over the month, with almost all survey participants reporting the same payroll numbers as in September. Likewise, manufacturing staffing levels stagnated in October.

Higher prices paid for petrol resulted in a further increase in average input prices facing services firms. That said, October saw cost inflation ease to a marginal pace that was much lower than the long-run series average. In fact, less than 2% of monitored firms reported rising cost burdens. Within manufacturing, purchase price inflation reached a 26-month peak.

Softer inflationary pressures assisted service providers with their pricing strategies. Amid reports of efforts to attract new customers, selling prices were left unchanged by around 98% of firms. Overall, a fractional reduction was recorded as the respective index recorded only just below the no-change mark of 50.0. Conversely, factory gate charges rose again, and at the quickest pace since April.

Indian services companies remained upbeat towards the 12-month outlook for activity, but the overall level of sentiment was at a four-month low. Those firms anticipating growth indicated that improved market conditions and aggressive marketing campaigns are expected to boost activity. Nevertheless, worries regarding fierce competition for new work restricted confidence.

Commenting on the Indian Services PMI survey data, Pollyanna De Lima, economist at IHS Markit, and author of the report, said:

The service sector joined its manufacturing counterpart in offering a more upbeat level of performance this month, providing reassurance in the sustainability of the upturn of Indias economy. Incoming new work was the main driver of output growth, with survey respondents highlighting strong demand and improved market conditions.

One underlying concern is the sustained stagnant trend in workforces, with both manufacturers and service providers showing some reluctance to hire. Hopefully, the added pressure on capacity shown in the PMI surveys will translate into job creation as we move towards the end of 2016.

Nonetheless, a healthy level of overall positive sentiment regarding future business opportunities was seen and, with competitive pressures offering just a minor bump in the road of confidence, the services economy looks set to maintain its strong performance in the near term.

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Ambuja Cements inches up amid volatility after reporting Q3 earnings
Nov 03,2016

The result was announced during market hours today, 3 November 2016.

Meanwhile, the S&P BSE Sensex was down 119.93 points or 0.44% at 27,407.29.

On BSE, so far 6.89 lakh shares were traded in the counter as against average daily volume of 1.60 lakh shares in the past one quarter. The stock was volatile. The stock rose as much as 1.78% at the days high of Rs 244.90 so far during the day. The stock lost as much as 2.09% at the days low of Rs 235.55 so far during the day. The stock had hit a 52-week high of Rs 282 on 31 August 2016. The stock had hit a 52-week low of Rs 185 on 29 February 2016. The stock had underperformed the market over the past one month till 2 November 2016, sliding 4.83% compared with 1.22% fall in the Sensex. The scrip had also underperformed the market in past one quarter, declining 8.85% as against Sensexs 1.62% fall.

The companys bottom line during the quarter was boosted by surge in non-operational income. Other income jumped 98.87% to Rs 144.86 crore in Q3 September 2016 over Q3 September 2015.

The current quarter (Q3 September 2016) results include results of ACC and are not comparable with results of corresponding previous quarter. Ambuja had recently acquired 50.05% shareholding in ACC pursuant to a scheme of amalgamation.

In its outlook, Ambuja Cements said the medium to long term outlook for cement demand remains positive considering good monsoon this year and governments focus on housing and infrastructure development. Ambuja Cements said it continues to focus on improving operational efficiencies.

Ambuja Cements is engaged in manufacturing and marketing cement and clinker for both domestic and exports. The company sells cement under the Ambuja Cement brand.

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Entire Country gets National Food Security Act coverage
Nov 03,2016

Kerala and Tamil Nadu have also rolled out the National Food Security Act (NFSA). With this, now the Act has been implemented in all the States and Union Territories. As a result, now 81.34 crore persons will get wheat at Rs. 2/ kg and rice at Rs. 3/ kg. This was announced by Union Minister of Consumer Affair, Food & Public Distribution, Shri Ram Vilas Paswan. Being an important initiative for ensuring food security of the people, the Government of India actively pursued with all the States/UTs for its early implementation.

Shri Paswan said now the Center will focus on further reforms in PDS, which will include end to end computerization of the system for which States/UTs are being technically and financially assisted. He said this is important for bringing in transparency in the functioning of the public distribution system (PDS), which is vital feature of NFSA, in order to check leakages and diversion of foodgrains.

Highlighting other initiatives taken by the Centre to make the PDS leakage proof, Shri Paswan said that the beneficiarys data base has been digitized in all the 36 States/UTs, wherein, information is available right upto beneficiary level and is in the public domain. Online allocation of foodgrains in being done in 28 States/UTs, and the entire foodgrain supply chain has been computerized in 18 States/UTs. 100 percent linkage of Ration Cards with Addhar, which is 71% at the moment, will be achieved. Foodgrains losses of FCI have been brought down to 0.04 percent and major FCI depots have been made online.

. In another significant step towards better targeting and leakage-free distribution of foodgrains, direct benefit transfer is being carried out in two different modes. In the first mode, food subsidy is being transferred in cash into the bank account of beneficiaries, who then have the choice to buy foodgrains from the open market. This has been started in UTs of Chandigarh, Puducherry and urban areas of Dadra & Nagar Haveli. The second mode involves automation of fair price shops, for distribution of foodgrains through an electronic point of sale (e-PoS) device which authenticates beneficiaries at the time of distribution and also electronically captures the quantum of foodgrains distributed to the family. As of 31.10.2016, e-PoS devices are operational in 1,61,854 fair price shops.

For smooth functioning of PDS, State Governments are also being provided Central assistance for meeting expenditure of intra-State transportation & handling of foodgrains and fair price shop dealers margin. The assistance for fair price shops dealers margin also contains a component of assistance for installation and operation of Pos devices at fair price shops. So far, Rs. 1874 crore has been released to State Governments by the Government of India in 2016-17.

At this current coverage, monthly allocation of foodgrains to States/UTs under the Act is about 45.5 lakh tons, with subsidy implication of about Rs. 11,726 core per month or about Rs. 1,40, 700 crore per year.

Regarding Sugarcane arrears, Shri Paswan said 2014-15 arrears which were Rs.21,000 at the peak have now come down Rs 205 crore. Prices of pulses except Chana have come down. Regarding wheat prices he said that Government has decided to release additional 10 lakh ton wheat for sale in domestic Market under FCI OMS scheme.

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Century Enka tumbles after reporting Q2 earnings
Nov 03,2016

The result was announced during market hours today, 3 November 2016.

Meanwhile, the S&P BSE Sensex was down 22.80 points or 0.08% at 27,504.42.

On BSE, so far 3.01 lakh shares were traded in the counter as against average daily volume of 56,179 shares in the past one quarter. The stock hit a high of Rs 362.75 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 311.75 so far during the day. The stock had hit a 52-week low of Rs 144.80 on 26 February 2016. The stock had outperformed the market over the past one month till 2 November 2016, advancing 35.72% compared with 1.22% fall in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 60.44% as against Sensexs 1.62% fall.

The small-cap company has equity capital of Rs 21.85 crore. Face value per share is Rs 10.

Shares of Century Enka had witnessed a pre-result rally. The stock had surged 13.65% in prior four trading sessions to settle at Rs 355.05 yesterday, 2 November 2016, from its close of Rs 312.40 on 27 October 2016.

Century Enka manufactures polyester filament yarn, nylon filament yarn, polyester partially oriented yarn, polyester and nylon chips of industrial and fabric grade and nylon industrial yarn and nylon tyre cord fabrics.

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Dhunseri Investments appoints Additional Director
Nov 03,2016

Dhunseri Investments has appointed Ramesh Chandak as an Additional Director designated as an Independent Director at the companys board meeting held on 03rd November 2016.

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Ujaas Energy soars over 50% in five trading sessions
Nov 03,2016

Meanwhile, the BSE Sensex was down 15.63 points, or 0.06%, to 27,511.59.

On BSE, so far 13.53 lakh shares were traded in the counter, compared with average daily volume of 3.27 lakh shares in the past one quarter. The stock hit a high of Rs 40.20 so far during the day, which is also a 52-week high for the counter. The stock hit a low of Rs 37.80 so far during the day. The stock hit a 52-week low of Rs 15.60 on 9 November 2015. The stock had outperformed the market over the past 30 days till 2 November 2016, rising 59.28% compared with the 2.85% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 67.11% as against Sensexs 0.68% decline.

The small-cap company has equity capital of Rs 20 crore. Face value per share is Re 1.

Shares of Ujaas Energy have risen 52.10% in five trading sessions from a recent closing low of Rs 25.05 on 27 October 2016.

On 1 November 2016, Ujaas Energy announced receiving an order for design, manufacture, supply, erection, testing and commissioning of rooftop grid connected solar PV system of 158 Kwp from Airports Authority of India VSI Airport, Port Blair, Andaman & Nicobar. Monetary details of the deal were not disclosed. On that day, the stock jumped 11.82% to end at Rs 34.05.

On a special Mahurat trading session on 30 October 2016, the stock surged 21.56% to Rs 30.45 after the company said its net profit surged 196% to Rs 9.71 crore on 129.9% rise in net sales to Rs 121.15 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours on Friday, 28 October 2016.

Ujaas Energy is engaged in design of various products and solutions for producing clean energy.

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Multi Commodity Exchange of India approves ESOP
Nov 03,2016

Multi Commodity Exchange of India has approved the exercise of options equivalent to 12,295 equity shares of Rs. 10/- each of Multi Commodity Exchange of India Limited (MCX) by the eligible employees. Accordingly, the MCX ESOP Trust has transferred12,295 equity shares of MCX to the respective eligible employees.

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Whirlpool of India standalone net profit rises 64.44% in the September 2016 quarter
Nov 03,2016

Net profit of Whirlpool of India rose 64.44% to Rs 58.72 crore in the quarter ended September 2016 as against Rs 35.71 crore during the previous quarter ended September 2015. Sales rose 17.99% to Rs 787.74 crore in the quarter ended September 2016 as against Rs 667.63 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales787.74667.63 18 OPM %11.388.89 - PBDT106.7371.92 48 PBT86.0654.46 58 NP58.7235.71 64

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Sai Television reports standalone nil net profit/loss in the September 2016 quarter
Nov 03,2016

Sai Television reported no net profit/loss in the quarter ended September 2016 as against net loss of Rs 0.01 crore during the previous quarter ended September 2015. There were no Sales reported in the quarter ended September 2016 and during the previous quarter ended September 2015.

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Teesta Agro Industries standalone net profit rises 14.29% in the September 2016 quarter
Nov 03,2016

Net profit of Teesta Agro Industries rose 14.29% to Rs 0.24 crore in the quarter ended September 2016 as against Rs 0.21 crore during the previous quarter ended September 2015. Sales rose 17.00% to Rs 16.86 crore in the quarter ended September 2016 as against Rs 14.41 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales16.8614.41 17 OPM %2.972.57 - PBDT0.580.46 26 PBT0.350.31 13 NP0.240.21 14

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Thangamayil Jewellery standalone net profit declines 3.77% in the September 2016 quarter
Nov 03,2016

Net profit of Thangamayil Jewellery declined 3.77% to Rs 3.57 crore in the quarter ended September 2016 as against Rs 3.71 crore during the previous quarter ended September 2015. Sales declined 22.94% to Rs 313.97 crore in the quarter ended September 2016 as against Rs 407.46 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales313.97407.46 -23 OPM %4.033.25 - PBDT7.137.61 -6 PBT4.825.37 -10 NP3.573.71 -4

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