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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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Moodys: Decentralized servicing means greater operational risks for Indian securitization deals
Jul 10,2017

Moodys Investors Service says that Indian securitization transactions that rely on decentralized servicing -- whereby repayments for the underlying loans are collected or paid in person -- are subject to greater levels of operational risk than where repayments are collected via centralized servicing through the countrys financial and payment system.

When servicing is decentralized, operation risks are higher because any failure on the part of the servicers to perform their duties would significantly disrupt the collection of loan payments.

The proportion of securitized portfolios requiring decentralized or centralized servicing generally varies between different asset classes in India. In the case of auto loan ABS, 40% to 70% of specific securitized portfolios may require decentralized servicing with repayments collected by servicers in person or paid in person by borrowers at local branch offices.

Furthermore, Moodys notes that the transfer of servicing duties from one provider to another would generally be more complex for securitization deals that rely on decentralized servicing, given the need to perform collections in person.

If a service provider is unable to perform its duties, the quick transfer of those duties to a new party is important to limit operational risk.

The presence of back-up servicer arrangements at the outset of Indian securitization transactions can reduce the operational risks faced by deals. If such arrangements are not in place from the outset and the servicer fails, it would be challenging to identify and to subsequently engage an effective replacement.

Nonetheless, although a back-up arrangement can reduce operational risks, it may not necessarily prevent losses from occurring if the replacement servicer fails to achieve the same level of loan collections as the original servicer.

At the same time, the current availability of effective third party servicers in India is limited, particularly in the case of decentralized servicing. For the alternate servicer to be effective, it should have a similar geographic reach and ability to service the portfolio requiring decentralized servicing.

In securitization transactions that rely on decentralized servicing, delinquencies can also increase significantly if there is a disruption in servicing, because borrowers may change their repayment behavior.

In such cases, very high levels of credit enhancement in securitization transactions that rely on decentralized servicing can provide significant coverage against the expected increase in losses upon servicing disruption.

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Lupin advances after receiving USFDA approval for generic drug
Jul 10,2017

The announcement was made during market hours today, 10 July 2017.

Meanwhile, the S&P BSE Sensex was up 393.73 points or 1.26% at 31,754.36.

On the BSE, 5.19 lakh shares were traded on the counter so far as against the average daily volumes of 1.44 lakh shares in the past one quarter. The stock had hit a high of Rs 1,156 and a low of Rs 1,119 so far during the day. The stock had hit a 52-week high of Rs 1,750 on 29 July 2016 and a 52-week low of Rs 1,036.80 on 5 July 2017.

The stock had underperformed the market over the past one month till 7 July 2017, sliding 3.23% compared with the Sensexs 0.29% rise. The stock had also underperformed the market over the past one quarter, declining 20.82% as against the Sensexs 5.57% rise. The scrip had also underperformed the market over the past one year, declining 32.62% as against the Sensexs 15.29% rise.

The large-cap company has equity capital of Rs 90.34 crore. Face value per share is Rs 2.

Lupin received final approval for its Flucytosine Capsules USP, 250 mg and 500 mg from the United States Food and Drug Administration (FDA) to market a generic version of Valeant Pharmaceuticals International Incs Ancobon Capsules, 250 mg and 500 mg.

Flucytosine Capsules USP, 250 mg and 500 mg are indicated for the treatment of serious infections caused by susceptible strains of Candida and/or Cryptococcus.

Ancobon Capsules had US sales of $46.6 million (IMS MAT March 2017).

On consolidated basis, Lupins net profit fell 49.2% to Rs 380.21 crore on 1.3% growth in net sales to Rs 4161.88 crore in Q4 March 2017 over Q4 March 2016.

Lupin is a transnational pharmaceutical company developing and delivering a wide range of branded & generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) globally.

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CARE Ratings leads gainers in A group
Jul 10,2017

CARE Ratings jumped 8.12% to Rs 1,704.10 at 13:45 IST. The stock topped the gainers in the BSEs A group. On the BSE, 1.11 lakh shares were traded on the counter so far as against the average daily volumes of 3.27 lakh shares in the past two weeks.

Divis Laboratories surged 7.32% at Rs 729.95. The stock was second biggest gainer in A group. On the BSE, 59.03 lakh shares were traded on the counter so far as against the average daily volumes of 91,000 shares in the past two weeks.

Reliance Communications advanced 6.37% to Rs 24.20. The stock was third biggest gainer in A group. On the BSE, 1.21 crore shares were traded on the counter so far as against the average daily volumes of 39.89 lakh shares in the past two weeks.

Punjab National Bank gained 5.2% at Rs 151.65. The stock was fourth biggest gainer in A group. On the BSE, 59.07 lakh shares were traded on the counter so far as against the average daily volumes of 7.23 lakh shares in the past two weeks.

Videocon Industries rose 4.93% to Rs 27.65. The stock was fifth biggest gainer in A group. On the BSE, 1.02 lakh shares were traded on the counter so far as against the average daily volumes of 13.81 lakh shares in the past two weeks.

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Jyoti Resins and Adhesives to hold AGM
Jul 10,2017

Jyoti Resins and Adhesives announced that the 24th Annual General Meeting (AGM) of the company will be held on 31 August 2017.

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Sharda Motor Industries to hold board meeting
Jul 10,2017

Sharda Motor Industries will hold a meeting of the Board of Directors of the Company on 17 July 2017, to consider and approve the revised audited consolidated financial results of the Company for the last quarter and year ended 31st March 2017.

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Sunrise Industrial Traders to hold board meeting
Jul 10,2017

Sunrise Industrial Traders will hold a meeting of the Board of Directors of the Company on 28 July 2017, to consider and approve the Un-audited Financial Results (Standalone) for the quarter ended 30th June 2017.

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IEC Education to hold board meeting
Jul 10,2017

IEC Education will hold a meeting of the Board of Directors of the Company on 17 July 2017, to approve unaudited Quarterly Financial Results of the Company along with Limited Review Report for Quarter Year ended 30 June 2017

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Mukat Pipes to hold AGM
Jul 10,2017

Mukat Pipes announced that the 30th Annual General Meeting (AGM) of the company will be held on 7 August 2017.

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STEL Holdings to hold AGM
Jul 10,2017

STEL Holdings announced that the 27th Annual General Meeting (AGM) of the company will be held on 3 August 2017.

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TCFC Finance to hold board meeting
Jul 10,2017

TCFC Finance will hold a meeting of the Board of Directors of the Company on 18 July 2017, to approve the Unaudited Financial Results of the Company for the quarter ended 30th June 2017.

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Wonderla Holidays to hold AGM
Jul 10,2017

Wonderla Holidays announced that the 15th Annual General Meeting (AGM) of the company will be held on 9 August 2017.

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Volumes jump at Divis Laboratories counter
Jul 10,2017

Divis Laboratories clocked volume of 58.14 lakh shares by 13:34 IST on BSE, a 64.05-times surge over two-week average daily volume of 91,000 shares. The stock rose 7.31% to Rs 729.85.

TeamLease Services notched up volume of 39,000 shares, a 49.52-fold surge over two-week average daily volume of 1,000 shares. The stock rose 2.52% to Rs 1,483.

MT Educare saw volume of 12.10 lakh shares, a 41.16-fold surge over two-week average daily volume of 29,000 shares. The stock rose 18.05% to Rs 78.50.

Sasken Technologies clocked volume of 1.64 lakh shares, a 24.85-fold surge over two-week average daily volume of 7,000 shares. The stock rose 7.16% to Rs 499.80.

D B Corp saw volume of 3.03 lakh shares, a 24.27-fold rise over two-week average daily volume of 12,000 shares. The stock fell 0.56% to Rs 381.60.

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KCP Sugar & Industries Corporation gets reaffirmation in credit ratings
Jul 10,2017

KCP Sugar & Industries Corporation announced that CARE Ratings has reaffirmed its ratings in respect of bank facilities and fixed deposits as under -

Long term bank facilities (Rs 158.59 crore) - CARE A ; Stable
Short term bank facilities (Rs 6.50 crore) - CARE A1
Fixed Deposit programme (Rs 76.83 crore) - CARE A (FD); Stable

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Fortis Healthcare gains as RBI hikes foreign investment ceiling
Jul 10,2017

Meanwhile, the S&P BSE Sensex was up 222.25 points or 0.71% at 31,582.88. The S&P BSE Mid-Cap index rose 58.28 points or 0.39% at 15,000.05.

On the BSE, 4.56 lakh shares were traded on the counter so far as against the average daily volumes of 9.83 lakh shares in the past one quarter. The stock had hit a high of Rs 163.90 and a low of Rs 162 so far during the day. The stock had hit a record high of Rs 230.90 on 3 May 2017 and a 52-week low of Rs 142.60 on 9 November 2016.

The stock had underperformed the market over the past one month till 7 July 2017, sliding 18.4% compared with the Sensexs 0.29% rise. The stock had also underperformed the market over the past one quarter, declining 14.87% as against the Sensexs 5.57% rise. The scrip had also underperformed the market over the past one year, declining 0.57% as against the Sensexs 15.29% rise.

The mid-cap company has equity capital of Rs 518.52 crore. Face value per share is Rs 10.

Fortis Healthcare reported consolidated net loss of Rs 37.52 crore in Q4 March 2017 compared with net loss of Rs 87.60 crore in Q4 March 2016. Net sales rose 5% to Rs 1123.43 crore in Q4 March 2017 over Q4 March 2016.

Fortis Healthcare is a leading integrated healthcare delivery service provider in India.

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Graphite India recovers after recent slide
Jul 10,2017

Meanwhile, the S&P BSE Sensex was up 220.68 points, or 0.7% at 31,581.31. The S&P BSE Mid-Cap index was up 63.88 points, or 0.43% at 15,001.70.

On the BSE, 1.20 lakh shares were traded on the counter so far as against the average daily volumes of 96,444 shares in the past one quarter. The stock had hit a high of Rs 179.40 and a low of Rs 173.80 so far during the day. The stock had hit a record high of Rs 192 on 4 July 2017 and a 52-week low of Rs 70.10 on 30 September 2016.

The stock had outperformed the market over the past one month till 7 July 2017, advancing 45.66% compared with the Sensexs 0.29% rise. The scrip had also outperformed the market over the past one quarter advancing 43.2% as against the Sensexs 5.57% rise. The scrip had also outperformed the market over the past one year advancing 121.89% as against the Sensexs 15.29% rise.

The mid-cap company has equity capital of Rs 39.08 crore. Face value per share is Rs 2.

Shares of Graphite India had declined 7.35% in the preceding three trading sessions to settle at Rs 173.85 on Friday, 7 July 2017, from its closing price of Rs 187.65 on 4 July 2017.

Graphite Indias net profit spurted 117% to Rs 61.97 crore on 6.9% increase in net sales to Rs 373.39 crore in Q4 March 2017 over Q4 March 2016.

Graphite India is engaged in the manufacture of graphite electrodes including carbon and graphite specialty products.

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