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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 CCL International to consider December quarter results
Jan 12,2017

CCL International announced that a meeting of the Board of Directors of the Company will be held on 02 February 2017, inter alia, to consider and approve standalone un-audited financial results of the Company for the quarter ended 31 December 2016.

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Pricol to announce Q3 and 9M results
Jan 12,2017

Pricol announced that the meeting of the Board of Directors of the Company will be held on 14 February 2017, inter alia, to consider and to take on record the unaudited financial results for the quarter and nine months ended 31 December 2016.

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Mercator to consider closure of QIP and approve QIP issue price
Jan 12,2017

Mercator announced that a QIP Committee meeting with respect to QIP will be held on 17 January 2017, inter alia, to consider the following:

a) declaring the closure of the QIP on January 17, 2017.

b) determining and approving the issue price; and

c) approving and adopting the placement document.

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Phoenix Mills provides update on scheme of amalgamation of subsidiaries
Jan 12,2017

Phoenix Mills announced that the Company have been informed by the Companys subsidiaries, Palladium Constructions (PCPL) and Gangetic Hotels (GHPL) that their Board of Directors in their respective meetings held on 11 January 2017 have approved a Scheme of Amalgamation of GHPL with PCPL with the appointed date of 01 April 2016. The Scheme is subject to the approval of the National Company Law Tribunal at Mumbai and Allahabad and all other regulatory approvals.

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CPI inflation dips to 25 months low of 3.4% in December 2016
Jan 12,2017

The all-India general CPI inflation dipped to 25-months low of 3.41% in December 2016 (new base 2012=100), compared with 3.63% in November 2016. The corresponding provisional inflation rate for rural area was 3.83% and urban area 2.90% in December 2016 as against 4.13% and 3.13% in November 2016. The core CPI inflation declined to 4.81% in December 2016 from 4.90% in November 2016. The cumulative CPI inflation was nearly flat at 4.85% in April-December 2016 compared with 4.79% in April-December 2015.

Among the CPI components, inflation of food and beverages declined to 1.98% in December 2016 from 2.56% in November 2016 contributing to the fall in CPI inflation. Within the food items, the inflation eased for Vegetables to -14.59% , Pulses and products -1.57% , Meat and fish 4.79% , Spices 6.06% and Sugar and Confectionery 21.06% . The inflation also eased for Egg 6.41% , Prepared meals, snacks, sweets etc. to 5.64% and Milk and products 4.40% On the other hand, inflation moved up for Oils and fats 2.86% and Cereals and products 5.25% in December 2016.

The inflation for housing eased to 4.98% , while that for miscellaneous items also fell to 4.73% in December 2016. Within the miscellaneous items, the inflation for Personal care and effects plunged to 6.42% , and Health 4.45% , while moved up for Household goods and services to 4.45% , Education 5.47% and Transport and communication 4.04% in December 2016.

The inflation for clothing and footwear eased marginally to 4.88% in December 2016, while the CPI inflation of fuel and light surged to 3.77% in December 2016.

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Demonetization resulted in decline in Terror Funding, Hawala Trade, Human Trafficking, says Law Minister Ravi Shankar Prasad
Jan 12,2017

Union Law, Justice and IT Minister Ravi Shankar Prasad on Thursday said the governments November 8 decision of demonetization had resulted in sharp decline in terror funding, hawala trade, supari killings and human trafficking, particularly of young girls as sex slaves, mainly from Nepal and the North East.

Indicating that the government would not hesitate to take steps to widen the tax base, he said that development was not possible without enlarging the tax kitty. ``There is only about Rs. Five lakh crore in the kitty of Finance Minister Arun Jaitley for development and it needs to grow, he said.

Mr. Ravi Shankar Prasad said that Aadhar enabled bank payments through smart phone would prove to be a ``game changer and a tool of empowerment. He said that out of 125 crore people only 3.7 crore pay taxes and 99 lakh file Income Tax returns but have no taxable income, two crore people show annual income of Rs. 6 lakh and only 24 lakh have an annual income of Rs. 10 lakh and above.

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Rural Electrification Corporation incorporates 3 Project SPVs
Jan 12,2017

Rural Electrification Corporation announced the incorporation of three Project Specific Special Purpose Vehicles (SPVs) as Subsidiary Companies of its subsidiary - REC Transmission Projects Company.

WR-NR Power Transmission
ERSS XXI Transmission
Ghatampur Transmission

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Reliance Industrial Infrastructure announces change in CFO
Jan 12,2017

Reliance Industrial Infrastructure announced that Salil Kumar Mishra has been appointed as the Chief Financial Officer of the Company with effect from 12 January 2017 in place of Tapas Mitra consequent to his resignation as the Chief Financial Officer of the Company with effect from close of business hours on 12 January 2017.

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National Standard (India) announces cessation of CEO
Jan 12,2017

National Standard (India) announced Mahesh Thakur has ceased to be the Chief Executive Officer of the Company w.e.f. 12 January 2017.

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India Cements gets revision in ratings for bank facilities
Jan 12,2017

India Cements has received revision in credit ratings for bank facilities from Credit Analysis & Research as under -

Long term bank facilities - CARE A-; Stable (Revised from CARE BBB+)
Short term bank facilities - CARE A1 (Revised from CARE A2)

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Mahindra Lifespace Developers to establish Industrial Park in Ahmedabad
Jan 12,2017

Mahindra Lifespace Developers has signed a MoU with the Government of Gujarat, through a 100% subsidiary, to establish a 350 acre multi product industrial park in Ahmedabad. The proposed new industrial park marks the Companys foray into Gujarat and is being planned to cater to non-polluting industries.

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J L Morison (India) announces resignation of director
Jan 12,2017

J L Morison (India) announced that Sandip Das, Executive Director & CEO of the Company has tendered his resignation from the Company due to personal reason w.e.f. closing working hours of 31 January 2017.

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Zensar Technologies partner with 2 Sisters Food Group
Jan 12,2017

Zensar Technologies has won a three year Robotic Process Automation (RPA) led project with the Shared Services Centre of 2 Sisters Food Group. As part of this project, Zensar will help streamline the financial framework and operations by implementing RPA solutions. 2 Sisters, a leading food manufacturing business in Europe, will be able to leverage the benefits of Zensars Return on Digital strategy, aimed at helping the customer meet their business objectives more accurately and efficiently.

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Bharti Airtel commences national operations & services of Airtel Payments Bank
Jan 12,2017

Bharti Airtel announced the commencement of national operations with services of Airtel Payments Bank.

Arun Jaitley, Honble Union Minster of Finance and Corporate Affairs formally launched Airtel Payments Banks national operations on 12 January 2017.

Airtel Payments Bank, a fully digital and paperless bank, aims to take basic banking services to the doorstep of every Indian by leveraging Airtels vast retail network. Over 250,000 neighbourhood Airtel retail stores across the country will also function as banking points,and customers will be able to open savings accounts, deposit and withdraw cash across any of these banking points.

Airtel Payments Bank will not charge any processing fee from its customers and merchants partners for digital transactions, thereby encouraging them to adopt cashless payments.

Airtel Payments Bank also rolled out its app for Android and iOS. The app can be accessed through MyAirtel app. Customers simply need to install MyAirtel app on their smartphone for a seamless access to Airtel Payments Bank services. In addition, customers would also get access to aMasterCard powered online card, which can be used to make payments across all online merchants accepting MasterCard.

Airtel Payments Bank will develop a nationwide merchant ecosystem of over five million partners including small kirana stores, grocers, pharmacies, restaurants, etc. These merchant partners willaccept digital payments from Airtel Payments Bank customers over mobile phones. Airtel Payments Bank has launched a Merchant App for digital onboarding of partners. Anyone looking to become a merchant partner can download this app from Google Playstore for free and startaccepting digital payments instantaneously.

Airtel will leverage its vast base of over 260 million customers and educate them on the benefits of digital payments, with special emphasis on customers with basic/feature mobile phones to make them use their phones to make USSD based payments.

Airtel Payments Bank commits an initial investment of Rs 3000 crore to develop a pan India banking network and digital payments ecosystem

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Board of Kushal Tradelink to consider bonus issue
Jan 12,2017

Kushal Tradelink announced that the meeting of the board of directors of the Company is scheduled to be held on 20 January 2017, inter alia, to consider the following:

1. To consider and approve the Increase in Authorised Share Capital of the Company.

2. To consider and Declare Bonus on Equity Shares.

3. To consider and propose to Amalgamate/Merge, Riddhi Siddhi Recyclers in Kushal Tradelink.

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