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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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Adani Power allots 13951510 Equity Shares
Jan 06,2017

Adani Power announced that the convertible warrant holders, to whom the warrants were allotted in the month of May, 2016 on preferential basis, have exercised their rights for conversion and applied for conversion of part of the warrants into equity shares. Consequently, Management Committee of the Board of Directors of the Company at its meeting held on 06 January 2017 has made allotment of total 13951510 Equity Shares of the face value of Rs. 10/- each (with a premium of Rs. 22.54 per equity share) to the said convertible warrant holders.

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United Spirits to announce Q3 results
Jan 06,2017

United Spirits announced that a meeting of the Board of Directors of the Company is scheduled to be held on 21 January 2017, inter alia, to consider the Un-audited Financial Results of the Company for the quarter and nine months ended 31 December 2016 (Q3).

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Board of Shree Digvijay Cement Co. to consider December quarter results
Jan 06,2017

Shree Digvijay Cement Co. announced that a meeting of the Board of Directors of the Company will be held on 25 January 2017, inter alia, to consider and approve the Un-audited Financial Results of the Company for the quarter ended on 31 December 2016.

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Agenda for board meeting of Kitex Garments
Jan 06,2017

Kitex Garments announced that a meeting of the Board of Directors of the Company will be held on 09 January 2017 to consider:

1. Further financial assistance from State Bank of India and
2. Additional investment in Kitex USA LLC.

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Board of DHP India to consider Q3 and 9M results
Jan 06,2017

DHP India announced that the Board Meeting of the Directors of the Company will be held on 13 February 2017 to discuss the following agenda:

1. To discussed and approve the First Nine Months & Third Quarter ended Un-audited Financial Results & Accounts (with limited review by statutory auditors) for the Nine Months & Third Quarter ended 31 December 2016.

2. To approve the proposal of CSR Committee for Expenses of CSR of F.Y. 2016-17 to be made by way of Contribution to Prime Ministers National Relief Fund.

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Board of Swagruha Infrastructure approves shifting of registered office
Jan 06,2017

Swagruha Infrastructure announced that at the meeting of the Board of Directors of the Company held on 06 January 2017, the following were duly considered and approved:

1. Shifting of Registered office from state of Telangana to State of Karnataka and alteration of MOA in respect of shifting of registered office.

2. Approval of Notice of the postal ballot.

3. Appointment of S. Sarveswar Reddy, Practicing Company Secretary as a Scrutinizer for conducting of postal ballot.

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Board of Transwarranty Finance to consider December quarter results
Jan 06,2017

Transwarranty Finance announced that a meeting of the Board of Directors of the Company will be held on 30 January 2017 to transact inter alia and approve the unaudited financial results for the quarter ended 31 December 2016.

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Syndicate Bank revises MCLR rates
Jan 06,2017

Syndicate Bank has revised tenor-wise MCLR of the Bank with effect from 10 January 2017 as under -

Overnight - 8.30%
One month - 8.35%
Three month - 8.40%
Six month - 8.60%
One year - 8.75%

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Religare Enterprises provides update on divestment of Cerestra Advisors
Jan 06,2017

Religare Enterprises announced that RGAM Investment Advisers, a wholly-owned subsidiary of the Company, has entered into definitive agreements on 05 January 2017 for the divestment of its stake in its wholly-owned subsidiary, Cerestra Advisors , with (i) TCP-CERESTRA, a company registered under the laws of Cayman Islands; [ii] CERESTRA MANAGERS, a company registered under the laws of India; and (iii) ELEPHANT INDIA FINANCE, a Company registered under the laws of India.

The transaction is expected to be closed by 28 February 2017 following the receipt of all required regulatory approvals.

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Natco Pharma gets final approval for generic version of Bendamustine Hydrochloride powder for Injection
Jan 06,2017

Natco Pharma has received the final approval of Abbreviated New Drug Application (ANDA) containing a paragraph IV certification filed with the U.S. Food and Drug Administration (FDA) for generic version of Bendamustine Hydrochloride powder for Injection, 25 mg/Vial and 100 mg/Vial (Singe-Dose Vial).

Pursuant to the settlement of the Paragraph IV litigation, NATCO plans to launch this drug on November 1, 2019, or earlier under certain circumstances, through its marketing partner Breckenridge Pharmaceutical, Inc., in the USA market.

Natco and Breckenridge filed their ANDA with a Paragraph IV certification on the first-to-file date and expect to share 180-day exclusivity with other ANDA first filers.

Cephalon (acquired by Teva in 2011) sells Bendamustine Hydrochloride powder for Injection, 25 mg/Vial and 100 mg/Vial (Singe-Dose Vial) under Brand name TREANDAn++ in the USA market. TREANDAn++ is indicated for the treatment of patients with chronic lymphocytic leukemia (CLL) and non-Hodgkins lymphoma. TREANDAn++ had U.S. sales of approximately $133 Million for twelve months ending November, 2016, according to IMS Health.

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SREI Equipment Finance closes public issue of NCDs
Jan 06,2017

SREI Infrastructure Finance announced that its subsidiary, SREI Equipment Finance has exercised the option of early closure of the Public Issue of Secured Redeemable Non-Convertible Debentures and the Issue shall now close on 06 January 2017. The Issue opened for subscription on 03 January 2017 and was scheduled to close on 20 January 2017.

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Promact Plastics announces change in directorate
Jan 06,2017

Promact Plastics announced that Payalben J. Patel has been appointed as Managing Director of the Company in place of Jayantilal S. Patel.

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Hisar Metal Industries provides update on order from Central Excise Commission
Jan 06,2017

Hisar Metal Industries has received relief Order-in-Appeal dated 04 January 2017 from the Office of the Commissioner of Central Excise Appeals - II, Delhi against the Orders-in-Original passed by the Addl. Commissioner, Central Excise Commissionerate, Rohtak in which the Addl. Commissioner has:

1. Confirmed demand of short paid Central Excise duty amounting to Rs. 6,90,022/- along with interest as applicable.

2. Imposed redemption fine of Rs. 36,00,000/-.

3. Imposed the penalty of Rs. 36,46,276/-.

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Apar tumbles as board approves buyback at nominal premium
Jan 06,2017

The announcement was made during market hours today, 6 January 2017.

Meanwhile, the S&P BSE Sensex was down 113.45 points or 0.42% at 26,764.79.

On the BSE, 25,000 shares were traded on the counter so far as against the average daily volumes of 15,445 shares in the past one quarter. The stock had hit a high of Rs 659.85 and a low of Rs 607.50 so far during the day.

The stock had hit a record high of Rs 666 yesterday, 5 January 2017 and a 52-week low of Rs 406 on 29 February 2016.

The small-cap company has equity capital of Rs 38.50 crore. Face value per share is Rs 10.

Apar Industries board at its meeting held today, 6 January 2017, approved the buyback up to 4.50 lakh fully paid-up equity shares, representing up to 1.17% of the outstanding equity shares of the company at a price of Rs 660 per share payable in cash for an aggregate amount of up to Rs 29.70 crore.

The buyback represents 4.09% of the fully paid-up equity share capital and free reserves (including securities premium) as per the standalone audited balance sheet of the company for the year ended 31 March 2016. The buyback will be on a proportionate basis through the tender offer. The promoters of the company have indicated their intention to participate in the proposed buyback. Promoters held 58.21% stake in Apar Industries end September 2016.

The record date for the proposed buyback is 20 January 2017.

Apar Industries net profit rose 82.2% to Rs 45.66 crore on 1.5% rise in net sales to Rs 1252.58 crore in Q2 September 2016 over Q2 September 2015.

Apar Industries is engaged in the business of manufacture of conductors, transformer/specialty oils and power/telecom cables.

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Religare Enterprises gains after subsidiary signs pact to divest stake in its unit
Jan 06,2017

The announcement was made during market hours today, 6 January 2017.

Meanwhile, the BSE Sensex was down 95.87 points, or 0.36%, to 26,782.37.

On the BSE, so far 6,029 shares were traded in the counter, compared with average daily volumes of 3,767 shares in the past one quarter. The stock had hit a high of Rs 264 and a low of Rs 250 so far during the day. The stock had hit a 52-week high of Rs 319 on 3 February 2016. The stock had hit a 52-week low of Rs 221.05 on 15 November 2016.

The stock had underperformed the market over the past one month till 5 January 2017, falling 6.94% compared with the Sensexs 2.01% rise. The scrip had also underperformed the market in past one quarter, dropping 8.05% as against the Sensexs 4.76% fall.

The mid-cap company has equity capital of Rs 178.33 crore. Face value per share is Rs 10.

Religare Enterprises announced that RGAM Investment Advisers Private Limited, a wholly-owned subsidiary of the company, has entered into definitive agreements on 5 January 2017 for the divestment of its stake in its wholly-owned subsidiary, Cerestra Advisors Limited, with TCP-Cerestra Ltd, a company registered under the laws of Cayman Islands; Cerestra Managers Pvt Ltd, a company registered under the laws of India; and Elephant India Finance limited, a company registered under the laws of India.

The stake will be bought by The Capital Partnership Group. The transaction is expected to be closed by28 February 2017 following the receipt of all required regulatory approvals.

Religare Enterprises had announced on 29 July 2016 that RGAM Investment Advisers has executed a binding term sheet to divest its stake in Cerestra Advisors Limited (Cerestra).

Religare Enterprises reported net loss of Rs 39.54 crore in Q2 September 2016 as against net loss of Rs 13.90 crore in Q2 September 2015. Total income declined 38.4% to Rs 11.85 crore in Q2 September 2016 over Q2 September 2015.

Religare Enterprises (REL) is the holding company for one of Indias leading diversified financial services groups. REL offers an integrated suite of financial services through its underlying subsidiaries and operating entities, including loans to SMEs, affordable housing finance, health insurance, capital markets and wealth management.

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