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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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Board of Global Land Masters Corporation to consider December quarter results
Jan 17,2017

Global Land Masters Corporation announced that a Meeting of Board of Directors of the Company, is scheduled to be held on 10 February 2017, inter alia, for taking up the following matter(s):

- To consider, Discuss and if thought fit to approve un-audited financial results for quarter ended on 31 December 2016.

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Shriram EPC gains as board to consider preferential issue of shares
Jan 17,2017

The announcement was made after market hours yesterday, 16 January 2017.

Meanwhile, the S&P BSE Sensex was down 36.25 points or 0.13% at 27,251.92.

On the BSE, 56,000 shares were traded on the counter so far as against the average daily volumes of 84,225 shares in the past one quarter. The stock had hit a high of Rs 30.40 and a low of Rs 29 so far during the day.

The stock had hit a 52-week high of Rs 40.80 on 7 November 2016 and a record low of Rs 19 on 8 June 2016. The stock had underperformed the market over the past one month till 16 January 2017, declining 4.78% compared with the Sensexs 3.01% rise. The scrip had, however, outperformed the market over the past one quarter advancing 21.68% as against the Sensexs 1.39% fall.

The small-cap company has equity capital of Rs 783.51 crore. Face value per share is Rs 10.

Shriram EPC said that a meeting of the board of directors of the company is scheduled on 19 January 2017, to consider the issuance of shares in lieu of the working capital term loan to the corporate debt restructuring (CDR) lenders based on reconciliation with the bankers. The board will also consider issuance of shares upto Rs 35 crore to a private limited company on preferential basis.

Shriram EPC reported net loss of Rs 55.03 crore in Q2 September 2016, as against net loss of Rs 17.43 crore in Q2 September 2015. Net sales declined 22.6% to Rs 80.09 crore in Q2 September 2016 over Q2 September 2015.

Shriram EPC offers design, engineering, procurement, construction and project management services for infrastructure projects.

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Board of Gokaldas Exports to consider December quarter results and scheme of merger
Jan 17,2017

Gokaldas Exports announced that a meeting of the Board of Directors is scheduled to be held on 03 February 2017, inter alia, to consider the Un-audited Financial Results for the quarter ended 31 December 2016 and to n++Review and approval on the updation for the scheme of merger consequent to notification of National Company Law Tribunal (NCLT) rules relating to mergern++ and to transact any other businesses thereon.

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Board of Optimus Finance to consider December quarter results
Jan 17,2017

Optimus Finance announced that the Board of Directors of the Company will meet on 27 January 2017, inter alia, to consider, approve and take on record, unaudited financial results for the Quarter Ended on 31 December 2016 (Standalone and Consolidated).

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Logistics stocks in demand as GST set for roll-out on 1 July 2017
Jan 17,2017

Snowman Logistics (up 3.95%), Gati (up 1.99%), Allcargo Logistics (up 1.35%), Gateway Distriparks (up 1.34%), Container Corporation of India (up 0.87%), VRL Logistics (up 0.67%), Blue Dart Express (up 0.51%), TCI Express (up 0.6%) and Aegis Logistics (up 1.03%) edged higher. Sical Logistics (down 0.36%) fell.

Meanwhile, the S&P BSE Sensex was down 52.04 points, or 0.19% at 27,236.13

The Goods and Services Tax (GST) Council yesterday, 16 January 2017 broke a deadlock over issues of administrative control over assessees and broadly agreed to roll out the GST from 1 July 2017, instead of the earlier deadline of 1 April 2017.

The GST council agreed that the Centre would assess 50% of the assessees under Rs 1.5 crore annual turnover and the states the other 50%. As much as 90% of the assessees with less than Rs 1.5 crore annual turnover will come under the states and the balance 10% under the Centre, report added.

On the second contentious issue of levying tax on the high seas or within 12 nautical miles of the coast the GST Council decided to go along with the states, which wanted to retain the power to tax economic activity although it maintained that constitutionally, the Centre had jurisdiction over territorial waters, reports added. For entities with annual turnover above the Rs 1.5 crore threshold, the Centre and states will share control equally but each taxpayer would have to deal with only one agency and be assessed once.

As per reports, the next meeting of the GST Council has been convened on 18 February 2017. By that time, changes to various bills will be worked out and will be ready to be passed by Parliament and state Assemblies. Rules and segment-wise GST rates will take time till March to be finalised.

GST, touted as the single biggest indirect taxation reform since independence, will simplify and harmonise the indirect tax regime in the country. The GST seeks to create a seamless national market in the country by replacing plethora of state taxes and central taxes by one tax. The GST is likely to benefit consumers, produces, and the Government.

Logistics firms could benefit from the removal of inefficiencies in interstate taxation and check posts.

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New approach needed to tackle rising drug prices-OECD
Jan 17,2017

The proliferation of high-cost medicines and rising drug prices are increasing pressures on public health spending and calling into question the pharmaceutical industrys pricing strategies. Governments need to work with the industry and regulators to define a new approach to the development and use of new health technologies that encourages innovation while also delivering more affordable and value for money treatments, according to a new OECD report.

New Health Technologies: Managing Access, Value and Sustainability says that pharmaceutical spending is increasingly skewed towards high-cost products. The launch prices of drugs for cancer and rare diseases are rising, sometimes without a commensurate increase in health benefits for patients. For instance in the United States, the launch price of oncology drugs per life-year gained has been multiplied by four in less than 20 years - in constant terms - and now exceeds USD 200 000.

Payers, such as insurers or public health providers, are also increasingly struggling to pay for high-cost medicines targeting very small populations, which are expected to proliferate with the development of precision medicine. On the other side of spectrum, new treatments for hepatitis which are very effective and cost-effective in the long-term but target a wide population, are unaffordable to many who would benefit in almost all OECD countries because of their high budget impact.

The prices paid for technologies must reflect their real-world health benefits compared to alternatives, and be adjusted based on evidence about their actual impact. Payers must be equipped with the necessary powers to adjust prices and withdraw payment for ineffective technologies.

A rebalancing of the negotiating powers of payers and manufacturers is needed, says the report. This could be through increased transparency and co-operation between payers and international joint procurement initiatives, as tested in Europe and Latin America. Pricing agreements, which link the final price paid to the actual performance of the drug, as used in Italy and England, may also be effective if management and administration costs are controlled and the clinical data and evidence collected made widely available to the scientific community.

The report highlights other challenges facing the adoption of new technologies. Investment in R&D to treat neglected diseases, such as HIV/AIDS or tuberculosis, fight antimicrobial resistance and address dementia has also become less attractive as their profitability is lower. The incentives for private investment in these areas should be strengthened.

Many biomedical technologies are today approved and adopted based on limited evidence of their safety and effectiveness. Assessment of their performance in real world conditions is rare. This compromises safety, is wasteful and no longer sustainable.

More efforts are also needed to harness the potential of health data more effectively. Use of personal health data creates major opportunities for health system improvement, research and disease surveillance, but requires the right governance frameworks to realise these benefits while managing the privacy risks.

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Valiant Communications signs MoU with ITI
Jan 17,2017

Valiant Communications has signed a Memorandum of Understanding with ITI (an undertaking of the Government of India) for its technology and product in Defense and Paramilitary.

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Asian Oilfield Services gains after winning contract
Jan 17,2017

The announcement was made during trading hours today, 17 January 2017.

Meanwhile, the BSE Sensex was down 48.77 points, or 0.18%, to 27,239.40.

On the BSE, so far 1.66 lakh shares were traded in the counter, compared with average daily volumes of 1.48 lakh shares in the past one quarter. The stock had hit a high of Rs 137.50 and a low of Rs 130.50 so far during the day.

The stock hit a 52-week high of Rs 138.90 on 6 January 2017. The stock hit a 52-week low of Rs 27.90 on 12 February 2016. The stock had outperformed the market over the past 30 days till 16 January 2017, rising 9.71% compared with the 3.01% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 81.49% as against Sensexs 2.72% decline.

The small-cap company has equity capital of Rs 22.32 crore. Face value per share is Rs 10.

Asian Oilfield Services has received letter of award of contract from Oil India for 2D Seismic Data Acquisition in Manipur (Area-1) from the unappraised areas of North East India for an estimated contract value of Rs 142.86 crore. The company has acknowledged the receipt of this letter of award and has initiated the acceptance and execution of the same.

On a consolidated basis, Asian Oilfield Services reported net loss of Rs 11.12 crore in Q2 September 2016 as against net profit of Rs 4.09 crore in Q2 September 2015. Net sales declined 94.72% to Rs 3.09 crore in Q2 September 2016 over Q2 September 2015.

Asian Oilfield Services is engaged in providing geophysical, drilling and well services to customers across the Indian sub-continent.

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Board of NELCO to consider December quarter results
Jan 17,2017

NELCO announced that meeting of the Board of Directors of the Company will be held on 31 January 2017, inter alia, to consider and take on record the Unaudited Stand alone and Consolidated Financial Results of the Company for the Quarter ended 31 December 2016.

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Emkay Global Financial Services to announce Q3 results
Jan 17,2017

Emkay Global Financial Services announced that a meeting of the Board of Directors of the Company is scheduled to be held on 30 January 2017 for approval of the Unaudited Standalone and Consolidated Financial Results for the 3rd quarter ended 31 December 2016.

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Crompton Greaves gains after winning order
Jan 17,2017

The announcement was made during trading hours today, 17 January 2017.

Meanwhile, the BSE Sensex was down 52.01 points, or 0.19%, to 27,236.16.

On the BSE, so far 2.58 lakh shares were traded in the counter, compared with average daily volumes of 6.06 lakh shares in the past one quarter. The stock had hit a high of Rs 65.80 and a low of Rs 64.65 so far during the day.

The stock hit a 52-week high of Rs 88.65 on 18 August 2016. The stock hit a 52-week low of Rs 32.16 on 12 February 2016. The stock had outperformed the market over the past 30 days till 16 January 2017, rising 9.63% compared with the 3.01% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 14.61% as against Sensexs 2.72% decline.

The mid-cap company has equity capital of Rs 125.35 crore. Face value per share is Rs 2.

Crompton Greaves (CG) has won a significant order of $105 million (Rs 720 crore approximately) from PT PLN, the state-owned electricity company of Indonesia, to manufacture and install Power Transformers ranging from 30 MVA, 70/20kV to 500 MVA, 500/150kv. CGs power transformers will be installed across PT PLNs transmission network, spread over multiple substations and power plants in Java, Sumatra, Kalimantan, Sulawesi and the Papua islands of the Indonesian archipelago.

The contract was secured through an open book bid that involves passing through stringent quality checks. The scope of the project includes site survey, design, manufacture, transportation and installation of the transformers.

On a consolidated basis, Crompton Greaves reported net loss of Rs 10.41 crore in Q2 September 2016 as against net profit of Rs 10.58 crore in Q2 September 2015. Net sales rose 4.61% to Rs 1495.16 crore in Q2 September 2016 over Q2 September 2015.

Crompton Greaves (CG) is a global leader in the management and application of electrical energy. CG provides end-to-end solutions that meet all electrical needs of its customers. CGs offerings include electrical products, systems and services for utilities, power generation and industries.

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Praj Industries announces change in directorate
Jan 17,2017

Praj Industries announced that the Board of Directors of the Company has:

1. Appointed Sachin Raole, CFO & President- Finance & Commercial as additional Director in the category of Whole Time Director and has re-designated him as CFO & Director- Finance & Commercial with effect from 16 January 2017.

2. Accepted resignation of Gajanan Nabar, as CEO & MD and also from the directorship of the Company with effect from 16 January 2017.

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Sybly Industries secures Euro 1.02 mn worth order for Fibre Polyester Yarn
Jan 17,2017

Sybly Industries has secured orders worth Euro 1.02 million for its Green Fibre Polyester Yarn from Barcelona, Spain. The entire order is to be executed within the next 12 months.

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Board of VTM to consider December quarter results
Jan 17,2017

VTM announced that a meeting of the Board of Directors of the Company will be held on 27 January 2017 to consider and take on record the Unaudited Financial Results of the Company for the quarter ended 31 December 2016.

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Ester Industries gains after announcing plans to setup R&D, innovation facility at Gurgaon
Jan 17,2017

The announcement was made after market hours yesterday, 16 January 2017.

Meanwhile, the S&P BSE Sensex was down 28.79 points or 0.11% at 27,259.38

On BSE, so far 1.58 lakh shares were traded in the counter as against average daily volume of 69,708 shares in the past one quarter. The stock hit a high of Rs 52.50 and a low of Rs 50.10 so far during the day.

The stock had hit a 52-week high of Rs 74.25 on 15 January 2016. The stock had hit a 52-week low of Rs 33.95 on 29 February 2016. The stock had outperformed the market over the past 30 days till 16 January 2017, rising 28.21% compared with the 3.01% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 0.4% as against Sensexs 2.72% decline.

The small-cap has equity capital of Rs 41.70 crore. Face value per share is Rs 5.

Ester Industries announced that the company plans to invest Rs 50 crore to set up a research and development (R&D) and innovation complex at Gurgaon. This centre proposes to house 40 scientists/ engineers who will be responsible for researching and developing breakthrough innovations, Ester Industries said.

The company has also recently filed a new patent under PCT for a master batch to produce specialised polyester yarn, Ester Industries said. With this latest filing, the total patent tally becomes nine. The master batch is for a cationic dyeable yarn which offers value advantages both from a quality and cost perspective, the company said. The product offers deeper and darker colours at a far more competitive price, it said. This product has already been approved by some Indian entities and is believed to enjoy strong potential in China and Taiwan, it added.

Speaking on the development, Arvind Singhania, Chairman, Ester Industries said the company has already developed some exciting products that have tremendous potential in various applications. The setting up of R&D centre will enable the company to further enhance and expand its capabilities to innovate with further breakthrough products, Arvind Singhania said.

Ester Industries reported net loss of Rs 5.04 crore in Q2 September 2016 as compared to net profit of Rs 3.97 crore in Q2 September 2015. Net sales dropped 18.94% to Rs 162.03 crore in Q2 September 2016 over Q2 September 2015.

Ester Industries is one of leading producers of polyester films, engineering plastics and speciality polymers.

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