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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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Indias fuel product sales rise 4.4% in December 2016
Jan 10,2017

Indias fuel product consumption or sales increased 4.4% to 16.53 mt in December 2016 over a year ago. Petcoke sales increased 28.8% to 1.94 mt, while LPG sales moved up 8.2% to 1.94 mt and petrol 7.8% to 1.96 mt. Consumption of fuel oil also gained 14.2% to 0.60 mt, ATF 12.6% to 0.62 mt, and diesel 1.0% to 6.55 mt. Further, the consumption of lubes/greases increased 14.6% to 0.30 mt, and light diesel oil 10.1% to 0.04 mt. However, the consumption of bitumen declined 2.0% to 0.56 mt, others 4.8% to 0.55 mt, naphtha 5.5% to 1.08 mt, and kerosene 30.5% to 0.40 mt in December 2016.

Consumption or sales of fuel product increased 9.0% to 146.43 mt in April-December 2016 over April-December 2015. Sales of petcoke increased 42.4%, diesel 3.8%, petrol 11.2%, and LPG 11.1%. Consumption of fuel oil also moved up 17.1%, ATF 11.6%, bitumen 6.1% and lubes/greases 9.4%. Further, the consumption of naphtha inched up 1.4%, others 1.3% and light diesel oil 17.4%, but declined for kerosene 17.4% in April-December 2016.

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Granules India gains on bargain hunting
Jan 10,2017

The announcement was made after market hours on Friday, 6 January 2017.

Meanwhile, the BSE Sensex was up 157.70 points, or 0.59%, to 26,884.25.

On the BSE, so far 3.51 lakh shares were traded in the counter, compared with average daily volumes of 1.69 lakh shares in the past one quarter. The stock had hit a high of Rs 105.80 and a low of Rs 102 so far during the day.

The stock hit a 52-week high of Rs 151.15 on 14 July 2016. The stock hit a 52-week low of Rs 91.45 on 9 November 2016. The stock had underperformed the market over the past 30 days till 9 January 2016, falling 9.92% compared with the 0.08% fall in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 15.84% as against Sensexs 4.83% decline.

The small-cap company has equity capital of Rs 22.12 crore. Face value per share is Re 1.

Shares of Granules India fell 9.84% to settle at Rs 101.20 yesterday, 9 January 2017, after the company announced that Infarmed, the Portuguese drug regulator, had conducted a renewal inspection on the companys facility located at Gagillapur, Telangana. In this respect, the company has received the inspection report from Infarmed with eleven observations. The Gagillapur facility manufactures Pharmaceuticals Formulation Intermediates (PFIs) and Finished Dosages (FDs).

The company has initiated necessary steps to address the observations of the inspection agency and will submit its response with a corrective and preventive action plan within the stipulated time, Granules India said. The company will also be requesting the Infarmed for re-inspection of the Gagillapur facility at the earliest. The company is committed to comply with all the required regulatory requirements and follow the best practices of the industry. The company acknowledges the observations as areas of continuous improvements, it added.

Granules Indias consolidated net profit rose 26.5% to Rs 40.82 crore on 3.08% growth in net sales to Rs 363.57 crore in Q2 September 2016 over Q2 September 2015.

Granules India is a vertically integrated pharmaceutical company, headquartered in Hyderabad, India. It manufactures active pharmaceutical ingredients (APIs), pharmaceutical formulation intermediates (PFIs) and finished dosages (FDs).

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Bhel edges higher after winning order
Jan 10,2017

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

Meanwhile, the BSE Sensex was up 158.69 points, or 0.59%, to 26,885.24.

On the BSE, 2.75 lakh shares were traded in the counter so far, compared with average daily volumes of 6.13 lakh shares in the past one quarter. The stock had hit a high of Rs 129.30 and a low of Rs 127.75 so far during the day. The stock had hit a 52-week high of Rs 162.80 on 8 September 2016. The stock had hit a 52-week low of Rs 90.40 on 29 February 2016.

The stock had underperformed the market over the past one month till 9 January 2017, falling 1.12% compared with the Sensexs 0.08% fall. The scrip had also underperformed the market in past one quarter, dropping 5.83% as against the Sensexs 4.76% fall.

The large-cap company has equity capital of Rs 489.52 crore. Face value per share is Rs 2.

Bharat Heavy Electricals (Bhel) said that it has bagged an order from PowerGrid Corporation of India for the augmentation of three extra voltage substations in Karnataka on turnkey basis valued at Rs 96 crore.

The augmentation of substation facilities is linked with the transmission system being set up for evacuation of solar power. The augmentation shall play a key role for transfer of renewable energy power from ultra mega solar power park of 2,000 megawatts capacity, phase II to be set up at Tumkur, Pavgada district on 10,000 acres of land.

The substations are slated to be commissioned in 18 months.

Bhel reported net profit of Rs 109 crore in Q2 September 2016 compared with net loss of Rs 180.78 crore in Q2 September 2015. Net sales rose 12.1% to Rs 6550.77 crore in Q2 September 2016 over Q2 September 2015.

State-run Bhel is an integrated power plant equipment manufacturer and an engineering and manufacturing company engaged in the design, engineering, manufacture, construction, testing, commissioning and servicing of a wide range of products and services for core sectors of the economy, viz. power, transmission, industry, transportation (railways), renewable energy, oil & gas, water and defence with over 180 products offerings.

The Government of India currently holds 63.06% stake in Bhel (as per the shareholding pattern as on 30 September 2016).

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HDFC Bank gains after bulk deal
Jan 10,2017

Meanwhile, the S&P BSE Sensex was up 158.87 points or 0.59% at 26,885.42

Bulk deal boosted volume on the scrip. On the BSE, 5.33 lakh shares were traded on the counter so far as against the average daily volumes of 1.24 lakh shares in the past one quarter. The stock had hit a high of Rs 1,214 and a low of Rs 1,1996 so far during the day.

The stock had hit a 52-week high of Rs 1,318.20 on 23 September 2016. The stock had hit a 52-week low of Rs 928.80 on 29 February 2016. The stock had underperformed the market over the past 30 days till 9 January 2017, falling 0.27% compared with Sensexs 0.08% fall. The scrip had also underperformed the market in past one quarter, sliding 6.97% as against Sensexs 4.83% decline.

The large-cap bank has equity capital of Rs 511.07 crore. Face value per share is Rs 2.

HDFC Banks net profit rose 20.41% to Rs 3455.33 crore on 15.27% growth in total income to Rs 19970.89 crore in Q2 September 2016 over Q2 September 2015.

HDFC Bank is one of the leading private sector banks in India. As of 30 September 2016, the banks distribution network was at 4,548 branches and 12,016 ATMs across 2,596 cities/towns.

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HCC gains over 4% in two sessions
Jan 10,2017

The company made the announcement during trading hours yesterday, 9 January 2017. Shares of Hindustan Construction Company (HCC) rose 0.36% to settle at Rs 41.75 on that day, amid choppy market sentiment. The stock has risen 4.45% in two sessions from its close of Rs 41.60 on Friday, 6 January 2017.

Meanwhile, the BSE Sensex was up 171.22 points, or 0.64%, to 26,897.77.

On the BSE, so far 23.83 lakh shares were traded in the counter, compared with average daily volumes of 20.75 lakh shares in the past one quarter. The stock had hit a high of Rs 44.85 and a low of Rs 43.15 so far during the day.

The stock hit a 52-week high of Rs 44.85 on 10 January 2017. The stock hit a 52-week low of Rs 16.60 on 12 February 2016. The stock had outperformed the market over the past 30 days till 9 January 2016, rising 5.83% compared with the 0.08% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 19.46% as against Sensexs 4.83% decline.

The mid-cap infrastructure company has equity capital of Rs 77.92 crore. Face value per share is Re 1.

Hindustan Construction Company (HCC) said it was awarded a Rs 368.60 crore contract by IRCON International for construction of the cable stayed bridge including its approaches across river Anji Khad in Jammu & Kashmir. The project is to be completed in 36 months.

This bridge will connect Tunnel T2 and T3 on Katran++Banihal Section of Udhampurn++Srinagarn++Baramulla Rail Link Project. The total length of the bridge is 473.25 m, including its approaches across river Anji Khad. With a 290 meter long main span, this will be the longest cable stayed bridge for Indian Railways.

This is the fifth order HCC has received from IRCON international. The first order was to construct 11 km long Pir Panjal Railway Tunnel, the longest transportation tunnel in India, which has been successfully commissioned. The second and third order is construction of 10.2 km long T48 tunnel between Sumber and Sangaldan stations and 5.1 km long tunnel T49A which are currently under construction. And the fourth order being executed is the construction of two main tunnels (T13 & part of T14) with parallel safety tunnels, a 200 m bridge adjoining these two tunnels and a station yard at Basindadhar.

HCCs net profit declined 42.8% to Rs 23.08 crore on 8.2% decline in net sales to Rs 759.03 crore in Q2 September 2016 over Q2 September 2015.

HCC develops and builds infrastructure.

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UCO Bank revises MCLR rates
Jan 10,2017

UCO Bank has revised the Marginal Cost of Lending Rate (MCLR) with effect from 10 January 2017 as under -

Overnight - 8.25%
One month - 8.35%
Three month - 8.40%
Six month - 8.50%
One year - 8.60%.

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Board of Stellar Capital Services to approve notice of EGM
Jan 10,2017

Stellar Capital Services announced that the meeting of Board of Directors of the Company is scheduled to be held on 17 January 2017 to approve the notice of Extra-Ordinary General Meeting to be held on 14 February 2017.

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Moodys 2017 outlook for Asia Pacific sovereigns stable; reforms, external and political pressures will drive credit profiles
Jan 10,2017

Moodys Investors Service says that the 2017 outlook for the creditworthiness of sovereigns in Asia Pacific is stable overall, reflecting a mix of credit-supportive and credit-challenging factors.

Rising income levels and strengthening institutions will offer support to several sovereign credit profiles in the region. However, although GDP growth in the region remains relatively robust, lackluster growth in global trade and capital outflows may weigh on the credit profiles of those more dependent on external demand or financing. Given this context, credit outcomes in 2017 will be determined by the effectiveness of ongoing reform efforts and the evolution of political risks.

The report explains that most Moodys-rated sovereigns in Asia Pacific carry ratings with stable outlooks, but negatives outlooks outnumber positive ones. Specifically, in terms of the 24 sovereigns that Moodys rates in Asia Pacific, there were 18 stable outlooks as of 10 January 2017, four negative and two positive.

Moodys further points out that rating actions in 2016 were overwhelmingly negative, with 10 negative and only one positive over the course of the year. The sources of shock have varied, but in 2016, 38% of rated Asia Pacific sovereigns experienced a decline in their fiscal strength, while for 42%, Moodys sees a higher susceptibility to event risk when compared with the situation the year before.

Moodys GDP growth forecasts already take into account expectations of slow global trade, which are particularly relevant for export-reliant economies like Hong Kong (Aa1 negative), Korea (Aa2 stable), Singapore (Aaa stable) and Taiwan (Aa3 stable).

The report points out that in the context of downside risks to the global growth outlook and the possibility of faster increases in US interest rates than investors currently assume, capital inflows to emerging markets could taper abruptly.

Direct exposure to capital flows is highest when financing needs are large to cover current account or external debt payments. In Asia Pacific, Mongolia (Caa1 stable), and to a lesser extent, Sri Lanka (B1 negative), Malaysia (A3 stable) and Indonesia (Baa3 stable), are among the most vulnerable.

In China (Aa3 negative), large official reserves provide ample external liquidity. However, tighter external financing and potentially increasing capital outflows could limit the effectiveness of domestic financial policies.

In addition to external trade and financing pressures, a key driver of sovereign credit trends will be the policy efforts of governments themselves. Moodys points out that authorities are formulating policies that range from those that address acute near term challenges to those that set the stage for longer-term improvements in credit profiles. However, capacities to implement these policies differ across countries as evident in Moodys scores for Institutional Strength, which vary greatly across the region.

The capacity of governments to implement measures and the effectiveness of policies in achieving the respective governments objectives will shape the sovereigns credit profiles over the coming year. In particular, in India (Baa3 positive), Indonesia (Baa3 stable) and the Philippines (Baa2 stable), ongoing implementation of reforms is likely to boost medium-term growth.

Moodys notes political risk is unlikely to abate in 2017, pointing out that latent political risk that prevailed in parts of APAC has, in some cases, flared up. Were domestic or geopolitical tensions to escalate, they would exacerbate the negative credit drivers or derail credit-supportive factors in the region. For instance, political developments could interfere with the ability of governments to implement reforms and would exacerbate the negative growth impact of slower global trade and capital flow reversals.

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Gandhi Special Tubes fixes record date for interim dividend
Jan 10,2017

Gandhi Special Tubes has fixed 03 February 2017 as the Record Date for the purpose of Payment of Interim Dividend, if considered and declared by the Board of Directors in its meeting to be held on 24 January 2017.

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Simplex Papers to consider December quarter results
Jan 10,2017

Simplex Papers announced that a meeting of the Board of Directors of the Company will be held on 30 January 2017, inter alia, to consider and adoption of Un-audited Financial Results for the quarter ended 31 December 2016,

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Board of Shiva Cement to consider proposal for purchase of promoters stake
Jan 10,2017

Shiva Cement announced that the Board Meeting of Directors of the Company will be held on 10 January 2017, inter alia, to transact following business:

- To consider proposal of a Cement Company for purchasing Promoters shares in Shiva Cement and thereby enabling them to invest and expand Plant capacity of Shiva Cement.

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Kirloskar Ferrous Industries to announce Q3 and 9M results
Jan 10,2017

Kirloskar Ferrous Industries announced that the meeting of the Board of Directors of the Company is scheduled to be held on 23 January 2017 to consider and approve, inter-alia, the Unaudited Financial Results for the quarter and nine months ended 31 December 2016.

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Board of UltraTech Cement to consider Q3 results
Jan 10,2017

UltraTech Cement announced that a meeting of the Board of Directors of the Company will be held on 21 January 2017, inter alia, to consider and approve the un-audited financial results of the Company for the quarter ended 31 December 2016 (Q3).

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Board of Chokhani Securities to consider December quarter results
Jan 10,2017

Chokhani Securities announced that meeting of Board of Directors of Company is scheduled to be held on 09 February 2017, inter alia, to consider Unaudited Financial Results for the quarter ended 31 December 2016.

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Sagar Cements to announce Q3 and 9M results
Jan 10,2017

Sagar Cements announced that a meeting of the Board of Directors of our Company will be held on 25 January 2017, inter-alia, to consider and take on record the un-audited stand alone and consolidated financial results of the Company for the third quarter and nine months ended 31 December 2016.

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