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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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Asia Pacific Market: Stocks fluctuate on Trump protectionist stance
Jan 23,2017

Asia Pacific share market closed mixed on Monday, 23 January 2017, following inaugural words from US President Donald Trump on Friday which signally failed to address market concerns about his administrations policy path and signaled an isolationist stance on trade and other issues. Trump also made it clear that he plans to hold talks with the leaders of Canada and Mexico to begin renegotiating the North American Free Trade Agreement.

Trump sounded protectionist as he pledged to end what he called an American carnage of rusted factories and vowed to put America first. Trump also intends to withdraw from the 12-nation Trans-Pacific Partnership (TPP) trade pact and is planning to renegotiate the North American Free Trade Agreement (NAFTA).

President Donald Trump prepared to sign executive orders on Monday to withdraw the U.S. from the Trans-Pacific Partnership trade deal and renegotiate the North American Free Trade Agreement, according to media reports. Investors have been looking for details on campaign-trail promises to boost growth and government spending. Investors are also looking at how the Trump presidency will affect trade in Asia, particularly China.

Among Asian bourses

Australia Market falls as Brambles profit warning, Trump speech

Australian share market finished session steep lower, pulled down by a Brambles profit warning as well as general unease following the inauguration of the new US President. At the closing bell, the benchmark S&P/ASX 200 index declined 43.80 points, or 0.77%, to 5611, while the broader All Ordinaries index dropped 41.70 points, or 0.73%, to close at 5668.

Industrial sector was the worst performer as Brambles dived to its lowest in more than 11 months to close down 15.8% at A$10.34 after supply-chain Logistics Company said its annual constant-currency sales revenue and underlying profit growth would be below its current guidance range. Brambles said that, taking into account currency fluctuations - 60% of the groups revenue is generated in currencies other than the US dollar - it expects first-half sales revenue will be up 5% and underlying profit will be up 3%. The supply chain logistics group said that in light of those results it expects full-year results to be below its previous guidance range of 7 to 9% for sales revenue and 9-11% for underlying profit.The sell-off pushed other industrials, as Monadelphous lost 3.5% and Downer EDI fell 2.2%.

Healthcare stocks moved into the red with shares of CSL posting their biggest%age loss in more than a week, as traders were booking some profit from CSL after it rose quite significantly in the last two sessions.

Bucking the trend were gold miners as investors sought the precious metals safe haven status. Evolution Mining was the top gainer among the biggest 200 stocks, rising 3.2%, while Newcrest added 1.7%.

Japan Stocks fall on stronger yen, Trump protectionist trade views

The Japan share market settled down, as risk sentiments dented on a stronger yen and on concern over U.S. President Donald Trumps protectionist trade views. The key 225-issue Nikkei Stock Average lost 246.88 points, or 1.29%, to close at 18,891.03, while the Topix index of all first-section issues shed 1.23%, or 18.83 points, to 1,514.63.

Japanese exporters stocks declined as the yen fell against the greenback and other major currencies. A stronger yen hurts Japanese exporters as it makes their products more expensive abroad and reduces the value of repatriated profits. Toyota Motor fell 1.63%, Honda Motor lost 1.72%, while Sony was off 1.15% and Panasonic was down 1.62%. Toshiba shares surged 9%, after several media reports that it is in the midst of preparing for the sale of its semiconductor business.

Insurers were also down as Japanese government bond yields declined after U.S. Treasury yields lost their recent upward momentum. Dai-ichi Life Holdings Inc. lost 1.7% to Y2,029.0. T&D Holdings Inc. fell 1.7% to Y1,608.0.

Airbag maker Takata Corp. fell 18% to Y467, the lower limit of the daily trading range, amid continued concerns about possible legal liquidation. The shares lost 47% last week.

Sharp Corp. rose 2.7% to Y305 following news that its parent and electronics manufacturer Foxconn Technology Group is considering investing $7 billion to build a flat-panel screen factory in the U.S.

China Stocks end at 2-week high

Mainland China stock market ended at a two-week high, as market sentiment received a modest boost after the Peoples Bank of China injected a record amount of cash last week into the banking system to ease the liquidity squeeze before the Lunar New Year holidays. Market gains were, however, limited as investors were reluctant to stake out fresh positions ahead of the week-long Chinese New Year holiday. Most sectors were largely unchanged but gains were led by the materials sector, underpinned by a broadly weaker U.S. dollar. The blue-chip CSI300 index, which tracks large companies in Shanghai or Shenzhen, was up 0.27% to close at 3,364.08. The Shanghai Composite Index added 0.44% to close at 3,136.77. The Shenzhen Composite Index, which tracks stocks on Chinas second exchange, added 0.87% to 1902.14. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, jumped 0.35% to 1,887.32 points.

To ease the liquidity squeeze, the Peoples Bank of China injected a net 1.19 trillion yuan into the money market last week, the highest weekly net injection on record. The Peoples Bank of China said on Friday it would provide temporary liquidity support for 28 days to several major banks to address seasonal liquidity stress ahead of the Lunar New Year, a new policy tool designed to ease cash shortages. The stock market will be closed from Jan. 27 to Feb 2.

National defence-related shares surged after Beijing announced on Sunday that President Xi Jinping would head a new commission overseeing joint military and civilian development. Beijing BDStar Navigation was suspended from trading after rising by the 10% daily limit to 30.57 yuan. Xian Tian He Defense Technology also soared 10% to close at 26.49 yuan.

Chengdu CORPRO Technology Co. rose 7% in Shenzhen after the China Securities Journal reported that the Ministry of Transport plans to increase use of the companys navigation satellite system

Hang Seng notches slight gains

The Hong Kong stock market notched slight gains, fuelled by Wall Streets rally last Friday following the inauguration of US president Donald Trump. But gains were limited as investors waited to see how U.S. President Donald Trumps protectionist policies influence relations between the worlds two largest economies. Shares of baby formula manufacturers and dairy shares posted strong gains on reports Number of new babies born in 2016 was increased noticeably. The Hang Seng Index added 0.06% or 12.61 points to close at 22,898.52. The Hang Seng China Enterprises index, or the H-share index, rose 0.11% or 11.10 points to 9,726.82. Turnover was unchanged from Friday at HK$56.1 billion.

Shares of baby formula manufacturers and dairy shares posted strong gains, after China announced that births in 2016 increased to 17.86 million, up significantly from the yearly average of 1.4 million from 2011 to 2015, marking the highest level since 2000, thanks to the n++two-childn++ policy. Statistics from the National Health and Family Planning Commission showed that second born children accounted for more than 45% of the total births in 2016. Yashili International Holdings, the countrys top baby formula maker, surged 9.7% to close at HK$1.58, the best closing level in more than a month. China Mengniu Dairy Company advanced 1.6% to HK$14.22. Diaper maker Hengan International also rose 1.4% to HK$59.8.

China Shenhua (01088) rose 1% to HK$15.88 after the company said its 2016 coal sales jumped 6.6%. China Coal (01989) climbed 1.8% to HK$3.87.

Sensex manages to hold above 27,000 amid volatility

Indian benchmark indices logged steady gains amid intraday volatility on first day of the week led by gains in index heavyweights ITC and HDFC. The barometer index, the S&P BSE Sensex, rose 82.84 points or 0.31% to settle at 27,117.34. The Nifty 50 index gained 42.15 points or 0.5% to settle at 8,391.50.

FMCG major, Hindustan Unilever (HUL) gained 0.25%. The companys net profit rose 6.82% to Rs 1037.93 crore on 1.51% decline in total income to Rs 8400.38 crore in Q3 December 2016 over Q3 December 2015. The announcement was made after market hours today, 23 January 2017.

RBL Bank jumped 5.65% after net profit rose 58.78% to Rs 128.69 crore on 38.98% growth in total income to Rs 1143.48 crore in Q3 December 2016 over Q3 December 2015. The result was announced after market hours on Friday, 20 January 2017.

Elsewhere in the Asia Pacific region: New Zealands NZX50 was up 0.3% to 7067.85. South Koreas KOSPI index added 0.02% to 2065.99. Taiwans Taiex index added 1% to 9424.05. Malaysias KLCI jumped 0.4% to 1671.31. Indonesias Jakarta Composite index fell 0.1% to 5250.97. Singapores Straits Times index grew 0.5% to 3025.48.

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Hang Seng notches slight gains
Jan 23,2017

The Hong Kong stock market notched slight gains on Monday, 23 January 2017, fuelled by Wall Streets rally last Friday following the inauguration of US president Donald Trump. But gains were limited as investors waited to see how U.S. President Donald Trumps protectionist policies influence relations between the worlds two largest economies. Shares of baby formula manufacturers and dairy shares posted strong gains on reports Number of new babies born in 2016 was increased noticeably. The Hang Seng Index added 0.06% or 12.61 points to close at 22,898.52. The Hang Seng China Enterprises index, or the H-share index, rose 0.11% or 11.10 points to 9,726.82. Turnover was unchanged from Friday at HK$56.1 billion.

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China Stocks end at 2-week high
Jan 23,2017

Mainland China stock market ended at a two-week high on Monday, 23 January 2017, as market sentiment received a modest boost after the Peoples Bank of China injected a record amount of cash last week into the banking system to ease the liquidity squeeze before the Lunar New Year holidays. Market gains were, however, limited as investors were reluctant to stake out fresh positions ahead of the week-long Chinese New Year holiday. Most sectors were largely unchanged but gains were led by the materials sector, underpinned by a broadly weaker U.S. dollar. The blue-chip CSI300 index, which tracks large companies in Shanghai or Shenzhen, was up 0.27% to close at 3,364.08. The Shanghai Composite Index added 0.44% to close at 3,136.77. The Shenzhen Composite Index, which tracks stocks on Chinas second exchange, added 0.87% to 1902.14. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, jumped 0.35% to 1,887.32 points.

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Japan Stocks fall on stronger yen, Trump protectionist trade views
Jan 23,2017

The Japan share market settled down on Monday, 23 January 2017, as risk sentiments dented on a stronger yen and on concern over U.S. President Donald Trumps protectionist trade views. The key 225-issue Nikkei Stock Average lost 246.88 points, or 1.29 percent, to close at 18,891.03, while the Topix index of all first-section issues shed 1.23%, or 18.83 points, to 1,514.63.

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Australia Market falls as Brambles profit warning, Trump speech
Jan 23,2017

Australian share market finished session steep lower on Monday, 23 January 2017, pulled down by a Brambles profit warning as well as general unease following the inauguration of the new US President. At the closing bell, the benchmark S&P/ASX 200 index declined 43.80 points, or 0.77%, to 5611, while the broader All Ordinaries index dropped 41.70 points, or 0.73%, to close at 5668.

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FPIs buying momentum ebbs
Jan 23,2017

Foreign portfolio investors (FPIs) bought stocks worth a net Rs 32.56 crore from the secondary equity markets on Friday, 20 January 2017, compared with net inflow of Rs 247.08 crore during the preceding trading session on Thursday, 19 January 2017. The net inflow of Rs 32.56 crore on 20 January 2017 was a result of gross purchases of Rs 4540.34 crore and gross sales of Rs 4507.78 crore. On that day, the Sensex shed 274.10 points or 1% to settle at 27,034.50, its lowest closing level since 10 January 2017.

There was a net inflow of Rs 0.73 crore into the category primary market & others on 20 January 2017, which was a result of gross purchases of Rs 2.09 crore and gross sales of Rs 1.36 crore.

FPIs have sold stocks worth a net Rs 3291.80 crore in January 2017 so far (till 20 January 2017). They had sold stocks worth a net Rs 8960.36 crore into the secondary equity markets in December 2016. FPIs had purchased shares worth a net Rs 12094.42 crore from the secondary equity markets in calendar year 2016.

There has been a net inflow of Rs 70.06 crore from FPIs from the category primary market & others in January 2017 so far (till 20 January 2017). There was a net inflow of Rs 784.07 crore from FPIs into the category primary market & others in December 2016. The net inflow from FPIs into category primary markets & others had totaled Rs 8471.76 crore in calendar year 2016.

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Tejnaksh Healthcare intimates of change in website
Jan 23,2017

Tejnaksh Healthcare has changed of website address form www.tejurology.com to www.tejnaksh.com

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Garden Silk Mills announces demise of director
Jan 23,2017

Garden Silk Mills announced that Arunchandra N. Jariwala, an Independent Director of the Company passed away on 21 January 2017.

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NRB Bearings announces change in directorate
Jan 23,2017

NRB Bearings announced that the Board by Circular Resolution dated 23 January 2017 has appointed:

1. Rustom Desai as an Additional Director on the Board of the Company in the category of a Non- Executive and Independent Director w.e.f. 23 January 2017 upto the date of the next Annual General Meeting;

2. Satish C Rangani as an Additional Director on the Board of the Company in the category of a Whole -Time Director, designated Executive and Company Secretary w.e.f. 24 January 2017 upto the date of the next Annual General Meeting;

Rustom Desai will also be a member of the Nomination & Remuneration Committee and Risk & Business Strategy Committee.

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Mukta Arts bring New Excelsior under its brand Mukta A2 Cinemas
Jan 23,2017

Mukta Arts has bought the prestigious South Mumbai Cinema New Excelsior under its Mukta A2 Cinemas brand through its newly formed wholly owned subsidiary, Mukta A2 Cinemas.

The renovation of the theatre is complete and its is expected to open very soon. This brings the screen count of Mukta A2 Cinemas at 50.

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Suven Life Sciences secures product patent form Australia
Jan 23,2017

Suven Life Sciences has been granted one (1) product patent from Australia (2013382944) corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases and the Patent is valid through 2033.

The granted claims of the patents are from the mechanism of action include the class of selective 5HT4 compounds and are being developed as therapeutic agents and are useful in the treatment of cognitive impairment associated with neurodegenerative disorders likeAlzheimers disease, Attention deficient hyperactivity disorder (ADHD), Huntingtons disease, Major Depressive disorder (MDD), Parkinson and Schizophrenia.

With these new patents, Suven has a total of twenty five (25) granted patents from Australia. These granted patents are exclusive intellectual property of Suven and are achieved through the internal discovery research efforts. Products out of these inventions may be out-licensed at various phases of clinical development like at Phase-I or Phase-II.

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Industrial & Prudential Investment Company to announce Q3 results
Jan 23,2017

Industrial & Prudential Investment Company announced that a Meeting of the Board of Directors of the Company is scheduled to be held on 09 February 2017, inter alia, to consider and approve the Standalone Unaudited Financial Results of the Company for the third quarter ended 31 December 2016.

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Board of Omax Autos to consider Q3 and 9M results
Jan 23,2017

Omax Autos announced that the next Board Meeting of the Company is scheduled to be held on 30 January 2017 inter alia, to consider; the Unaudited Financial Results of the Company for the quarter and nine months ended 31 December 2016.

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HEG to consider Q3 and 9M results
Jan 23,2017

HEG announced that a meeting of the Board of Directors of the Company is scheduled to be held on 08 February 2017, inter alia, to consider the unaudited financial results of the Company for the quarter & nine months period ended 31 December 2016.

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JSW Energy drops after poor Q3 outcome
Jan 23,2017

The result was announced during market hours today, 23 January 2017.

Meanwhile, the S&P BSE Sensex was up 90.66 points or 0.34% at 27,125.16.

On the BSE, 10.32 lakh shares were traded on the counter so far as against the average daily volumes of 5.52 lakh shares in the past one quarter. The stock had hit a high of Rs 62 and a low of Rs 58.90 so far during the day.

The stock had hit a 52-week high of Rs 86.20 on 30 June 2016 and a 52-week low of Rs 53.50 on 9 November 2016. The stock had outperformed the market over the past one month till 20 January 2017, advancing 3.72% compared with the Sensexs 2.76% rise. The scrip had, however, underperformed the market over the past one quarter, declining 14.55% as against the Sensexs 3.89% fall.

The large-cap company has equity capital of Rs 1640.05 crore. Face value per share is Rs 10.

The decline in the companys turnover in Q3 December 2016 was primarily on account of lower generation coupled with lower tariff. The companys net generation declined 23.26% to 4,644 units in Q3 December 2016 over Q3 December 2015, primarily on account of poor power demand across all thermal plants besides shutdown of one unit of 300 megawatts (MW) at Ratnagiri due to turbine vibrations.

JSW Energys consolidated earnings before interest, taxation, depreciation and amortization (EBITDA) declined 39.69% to Rs 708 crore in Q3 December 2016 over Q3 December 2015. Lower EBITDA was due to lower generation, lower average tariff realisation and higher variable cost per unit.

On the future business outlook, JSW Energy said that while margins are expected to be under pressure in the short term due to subdued demand for power coupled with the firming up of international coal prices, the impending pickup in economic activity coupled with lower interest rate regime is expected to provide opportunities to optimise cost and secure power purchase agreements in the longer term.

The company believes that given the Government of Indias firm resolve to push the economy on the fast track, issues related to low per capita consumption of power and non-availability of 24x7 power to almost 70% of the population will necessarily have to be addressed, leading to a huge surge in the demand for power in the medium term.

JSW Energy is a part of JSW Group and is a integrated power company.

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