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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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Sea Gold Aqua Farms to hold board meeting
Feb 09,2017

Sea Gold Aqua Farms will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider and adopt the Un-Audited Financial Results of the company for the Quarter ended 31 December 2016.

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IFL Promoters to hold board meeting
Feb 09,2017

IFL Promoters will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider and adopt the un-audited financial results and Limited Review Report of the Auditor thereon for the quarter ended 31 December 2016.

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Tata Motors announces group wholesales figures
Feb 09,2017

The Tata Motors group wholesales in January 2017, including Jaguar Land Rover, were at 95,081 units, higher by 3% over January 2016. Cumulative wholesales for the fiscal were 9,22,162 units, higher by 9% over FY 2015-16.

Global wholesales of all Tata Motors commercial vehicles and Tata Daewoo range in January 2017 were 34,013 units, lower by 8% compared to January 2016. Cumulative commercial vehicle wholesales for the fiscal were 3,18,606 units, higher by 3% over FY 2015-16.

Global wholesales of all passenger vehicles in January 2017 were at 61,918 units, higher by 9% compared to January 2016. Cumulative passenger vehicle wholesales for the fiscal were 6,03,556 units, higher by 12% over FY 2015-16.

Global wholesales of Jaguar Land Rover were 48,740 units in January 2017. Cumulative wholesales for Jaguar Land Rover for the fiscal were 4,74,546 units.

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Rural Electrification Corporation announces appointment of director
Feb 09,2017

Rural Electrification Corporation announced that Ministry of Power, Government of India vide its Order dated 08 February 2017, has appointed Asha Swarap as Part time Non-official Woman Director on the Board of the Company for a period of three years from the date of notification of her appointment or till further orders, whichever is earlier.

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Ballarpur Industries appoints director
Feb 09,2017

Ballarpur Industries announced that Sudhir Mathur has been appointed as an Additional Director (Independent) w.e.f. 07 February 2017.

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DIC India appoints director
Feb 09,2017

DIC India announced that the Board of Directors of the Company at its meeting held on 08 February 2017, Partha Mitra has been appointed as a Director in the Board of the Company.

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Cabinet approves Pradhan Mantri Gramin Digital Saksharta Abhiyan for covering 6 crore rural households
Feb 09,2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved Pradhan Mantri Gramin Digital Saksharta Abhiyan (PMGDISHA) to make 6 crore rural households digitally literate. The outlay for this project is Rs.2,351.38 crore to usher in digital literacy in rural India by March,.2019. This is in line with the announcement made by Finance Minister in the Union Budget 2016-17.

PMGDISHA is expected to be one of the largest digital literacy programmes in the world. Under the scheme, 25 lakh candidates will be trained in the FY 2016-17; 275 lakh in the FY 2017-18; and 300 lakh in the FY 2018-19. To ensure equitable geographical reach, each of the 250,000 Gram Panchayats would be expected to register an average of 200-300 candidates.

Digitally literate persons would be able to operate computers/digital access devices (like tablets, smart phones, etc.), send and receive emails, browse internet, access Government Services, search for information, undertaking cashless transactions, etc. and hence use IT to actively participate in the process of nation building.

The implementation of the Scheme would be carried out under the overall supervision of Ministry of Electronics and IT in active collaboration with States/UTs through their designated State Implementing Agencies, District e-Governance Society (DeGS), etc.

Background:

As per the 71st NSSO Survey on Education 2014, only 6% of rural households have a computer. This highlights that more than 15 crore rural households (@ 94% of 16.85 crore households) do not have computers and a significant number of these households are likely to be digitally illiterate. The PMGDISHA being initiated under Digital India Programme would cover 6 crore households in rural areas to make them digitally literate. This would empower the citizens by providing them access to information, knowledge and skills for operating computers / digital access devices.

As the thrust of the Government is on cashless transactions through mobile phones, the course content would also have emphasis on Digital Wallets, Mobile Banking, Unified Payments Interface (UPI), Unstructured Supplementary Service Data (USSD) and Aadhaar Enabled Payment System (AEPS), etc.

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TCS appointed as primary technology partner by Travelport
Feb 09,2017

Tata Consultancy Services (TCS) announced that Travelport has named TCS as its primary technology partner. TCS will partner with Travelport to innovate and shape a superior customer experience through the power of digital technologies. Travelport will also leverage TCS extensive mathematical and digital experience to accelerate the benefits of data and analytics in its business.

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Anik Industries converts its OCD holding into equity shares of Revera Milk and Foods
Feb 09,2017

Anik Industries announced that the Company invested Rs. 140.00 crore in the mode of Optionally Convertible Debentures in the proposed Hospitality cum Mixed Use Project of Revera Milk and Foods, a Company registered under the Indian Companies Act.

Now, Company hereby inform that Company had opted to convert the said OCDs into equity shares of the Company and after said conversion, the Company is holding 93.33% of shareholding of Revera Milk and Foods . Consequently, Revera Milk and Foods Private has become subsidiary Company of the Company.

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ASSOCHAM concerned over RBI leaving n++accommodativen++ stance on interest rates
Feb 09,2017

Expressing disappointment over belying of expectations on the interest rate cut by the Reserve Bank of India, the ASSOCHAM said what is more worrying is the RBI putting an end to the n++accommodativen++ stance in the wake of the impact of demonetization.

n++The RBI, in a way, has put the ball in the court of the government for softening of the interest rates which, it said, would depend on how soon the problems of the bank non-performing assets (NPAs) , recapitalization of the lenders and re-caliberating of the small saving, are resolvedn++.. The ASSOCHAM, therefore, would urge the government to take the signals from RBI seriously and address these issues. Besides, there is a strong case for fiscal support, besides the monetary measures, to generate the consumer demand and revive the investment cycle,n++ ASSOCHAM President Mr. Sunil Kanoria said.

He said while inflation targeting remains an important mandate of the RBIs Monetary Policy Committee, subdued growth should also weigh on the policy makers. n++Besides the global factors, cited by the RBI, like firming of the crude oil and strengthening of dollar against rupee seem to have been given over-weight by the MPC. In fact, the crude oil at the present moment again appears to be easingn++.

The ASSOCHAM, however, welcomed RBI Governor Dr Urjit Patels advice to the banks, saying there is still scope for further transmission despite no fresh cut in the Repo rate, based on the 175 basis points earlier reduction by the policy rates while the pass-on has been only half of that quantum.

Besides, the RBI stance of taking away the n++accommodativen++ stance appears to be different from the signals from the government which has been assuring the industry and the people of subdued interest regime, going forward.

Mr Kanoria said after a helping hand from the Finance Minister Mr Arun Jaitley on the housing sector, granting infrastructure status to the affordable housing, the follow up action by the RBI has been put on the backburner. n++To that extent, it is a letdownn++ for the key sector.

However, ASSOCHAM welcomed the RBI decision to set up a standing committee on cyber security, especially in the wake of increased focus on digitalization of the economy, post demonetization.

On the issue of NPAs, the chamber said, all the stake holders, including the banks, RBI and the government along with the industry need to work out pragmatic solutions.

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Board of DIC India recommends dividend for FY 2016
Feb 09,2017

DIC India announced that the Board of Directors of the Company at its meeting held on 08 February 2017 inter alia, has recommended the payment of dividend for the financial year ended 31 December 2016 at the rate of Rs. 4.00 per share (FY2015 Rs. 4.00 per share) on the capital of 9,178,977 equity shares of Rs. 10/- each.

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Ratnamani Metals & Tubes jumps after good Q3 outcome
Feb 09,2017

The result was announced after market hours yesterday, 8 February 2017.

Meanwhile, the S&P BSE Sensex was up 125.93 points or 0.45% at 28,415.85

On BSE, so far 33,000 shares were traded in the counter as against average daily volume of 13,719 shares in the past one quarter. The stock hit a high of Rs 751.50 and a low of Rs 689.50 so far during the day. The stock had hit a record high of Rs 809.05 on 29 December 2016. The stock had hit a 52-week low of Rs 387 on 17 February 2016.

The mid-cap company has equity capital of Rs 9.35 crore. Face value per share is Rs 2.

Ratnamani Metals & Tubes is a multi-location, multi-product company, manufacturing tubes & pipes in stainless steel/exotic material and also carbon steel pipes, in wide size ranges, for wide spectrum of applications.

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Arshiya appoints CFO
Feb 09,2017

Arshiya announced the appointment of Group President, S Maheshwari as CFO with immediate effect.

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Ruby Mills to resume operations at Kharsundi processing unit
Feb 09,2017

Ruby Mills announced that the Companys processing unit at Village Kharsundi, Taluka Khalapur is currently experiencing disruption of operations due to Power shut down by Maharashtra State Electricity Board (MSEB) on 07 February 2017 pursuant to Maharashtra Pollution Control Board (MPCB) instructions due to non-operation of Common Effluent Treatment Plant (CETP). MIDC has issued a fresh operation and maintenance contract for the CETP and the contractor has mobilised this week. The resumption of operations of CETP and the Processing unit is expected soon. The existing LOP Policy (Insurance Policy) does not cover such situations. However, we do not expect any material loss/damage besides marginal impact on production/ operation.

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Sunteck Realty to start new business vertical of affordable housing
Feb 09,2017

Sunteck Realty announced plans to start a new business vertical of affordable housing. The Company plans to invest Rs 1000 crore in affordable housing projects in locations close to Mumbai including Navi Mumbai, Thane and Kalyan.

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