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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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Tech Mahindra allots 21700 equity shares
Jan 11,2017

Tech Mahindra announced about the resolution passed by the Securities Allotment Committee of the Board of Directors of the Company on 11 January 2017 for issue and allotment of a total of 21700 equity shares of Rs. 5/- each of the Company under various ESOPs.

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November air freight demand reflects strong peak season: IATA
Jan 11,2017

The International Air Transport Association (IATA) released data for global air freight markets showing that demand, measured in freight tonne kilometers (FTKs), rose 6.8% in November 2016 compared to the year-earlier period. This was a slight slowdown from the 8.4% annual growth recorded in October 2016 - which was a 20-month high - but was still more than 2.5 times the average annual monthly growth rate of 2.6% over the past decade.

Growth in freight capacity, measured in available freight tonne kilometers (AFTKs), slowed to 4.4% November.

The uptick in freight growth coincides with an increase in the shipment of silicon materials typically used in high-value consumer electronics shipped by air, and an apparent turnaround in new export orders. A modal shift to air cargo following the collapse of the Hanjin Shipping Company in August may have also contributed.

Air cargo enjoyed a strong peak season in November. And there are encouraging signs that this growth will to continue into 2017, particularly with the shipment of high-value consumer electronics and their component parts. But, the trend in world trade is still stagnant. So it remains critically important for the air cargo industry to continue to improve its value offering by implementing modern customer-centric processes, said Alexandre de Juniac, IATAs Director General and CEO.

Regional Performance

Airlines in all regions except Latin America reported an increase in year-on-year demand in November.

Asia-Pacific airlines saw demand in freight volumes grow 6.1% in November 2016 compared to the same period in 2015 and capacity grew by 4.0%. Seasonally-adjusted volumes are now back to the levels reached in 2010 during the post-global financial crisis bounce-back. The increase in demand is captured in the positive outlook from business surveys in the region.

North American carriers freight volumes expanded 5.6% in November 2016 compared to the same period a year earlier, and capacity increased by 2.6%. Freight traffic across the Atlantic continued to strengthen, increasing by 9.0% in October. This is being driven in part by an increase in westbound import flows from Europe to the US helped by a strong dollar. However US exports continue to suffer from the strength of the US dollar.

European airlines posted a 9.0% year-on-year increase in freight demand in November. This was a slight slowdown compared to the 13.3% growth recorded in October, possibly attributable in part to the strike at Lufthansa. Notwithstanding this, the seasonally-adjusted growth trend is strong and corresponds with the sustained increase in export orders in Germany over the last few months and the ongoing weakness in the Euro. Capacity in the region increased by 4.8%.

Middle Eastern carriers enjoyed a boost in demand from the strong peak season with freight volumes increasing by 7.8% in November 2016, year-on-year. Seasonally-adjusted growth has slowed, however, mainly due to weak freight volumes between the Middle East and Asia, and the Middle East and Europe. Freight volumes grew by just 4% on these routes in the January-October 2016 period, compared with 8-11% over the same period in 2015. Capacity in the region increased by 5.1% in November.

Latin American airlines experienced a demand contraction of 1.3% in November 2016, compared to the same period last year. However in seasonally-adjusted terms growth levels are in-line with where they were at the start of 2016. The region continues to be blighted by weak economic and political conditions, particularly in the largest economy, Brazil. The within South America market has been the weakest performer to date with volumes down nearly 20% compared to the same period in 2015. Capacity in the region decreased by 1.6% in November.

African carriers posted the largest increase in freight demand among the regions in November, 10.9% year-on-year, and the seasonally-adjusted growth remains strong. However, capacity surged by 26.9% on the back of long-haul expansion, particularly by Ethiopian Airlines, and this caused the freight load factor to fall in annual terms for the 19th consecutive month.

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TCI Express fixes record date for interim dividend
Jan 11,2017

TCI Express has fixed 08 February 2017 as the Record Date for the purpose of Payment of Interim Dividend.

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Board of TCI Express to consider Q3 results and interim dividend
Jan 11,2017

TCI Express announced that the Meeting of the Board of Directors of the Company has been scheduled to take place on 31 January 2017, inter alia, to consider and approve the Unaudited Financial Results for the 3rd Quarter/Nine Months ended 31 December 2016.

The Board may also consider payment of interim dividend, if any for financial year 2016-17 in the said meeting.

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Fiberweb India jumps on fund raising plans
Jan 11,2017

The announcement was made during market hours today, 11 January 2017.

Meanwhile, the S&P BSE Sensex was up 246.42 points or 0.88% at 27,136.69.

On the BSE, 41,790 shares were traded in the counter so far as against average daily volume of 72,568 shares in the past one quarter. The stock had hit a high of Rs 184.15 and a low of Rs 171 so far during the day. The stock had hit a record high of Rs 187.05 on 15 December 2016. The stock had hit a 52-week low of Rs 19.85 on 8 February 2016.

The stock had outperformed the market over the past one month till 10 January 2017, gaining 31.59% compared with the Sensexs 0.57% gains. The scrip had also outperformed the market in past one quarter, jumping 49.78% as against the Sensexs 4.21% fall.

The small-cap company has equity capital of Rs 12.60 crore. Face value per share is Rs 10.

Fiberweb Indias net profit jumped 4583.3% to Rs 2.81 crore on 42.4% rise in net sales to Rs 22.06 crore in Q2 September 2016 over Q2 September 2015.

Fiberweb India manufactures high quality spun bond polypropylene non woven roll goods and products which can be used across different sectors,

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Metal and mining stocks rally
Jan 11,2017

Meanwhile, the S&P BSE Metal index was up 469.27 points or 4.36% at 11,222.43 and was the top performer among the sectoral indices on the BSE.

The Sensex was currently up 228.06 points or 0.85% at 27,133.60. The rise in the S&P BSE Metal index was higher than than Sensexs decline in percentage terms.

Jindal Steel & Power (JSPL) (up 11.62%), Vedanta (up 1.85%), Hindalco Industries (up 6.18%), JSW Steel (up 6.37%), Bhushan Steel (up 5.15%), Tata Steel (up 3.95%), Hindustan Zinc (up 2.26%), Steel Authority of India (Sail) (up 5.3%), National Aluminum Company (up 5.59%), NMDC (up 2.03%), MOIL (up 0.44%) and Hindustan Copper (up 0.89%) rose.

Meanwhile, copper price edged higher in the global commodities markets. High Grade Copper for March 2017 delivery was currently off 0.04% at $2.6115 per pound on the COMEX.

The BSE Metal index index had underperformed the market over the past 30 days till 10 January 2017, falling 1.2% compared with 1.45% rise in the Sensex. The index, however, outperformed the market in past one quarter, gaining 3.29% as against Sensexs 4.21% fall.

Marketmen are awaiting details on Donald Trumps plan for tax cuts and infrastructure spending. Executives from BHP Billiton, the worlds biggest miner, reportedly met with President-elect Donald Trump for talks on the industry, as the incoming administrations pledges to boost infrastructure spending.

Metal stocks across the globe had advanced yesterday, 10 January 2017 after base metal prices jumped due to better-than-expected producer price inflation in China.

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Welspun India nudges higher after groups investment plans in textile projects
Jan 11,2017

The announcement was made during market hours today, 11 January 2017.

Meanwhile, the BSE Sensex was up 224.68 points, or 0.84%, to 27,124.24.

On the BSE, 42,747 shares were traded in the counter so far, compared with average daily volume of 6.37 lakh shares in the past one quarter. The stock had hit a high of Rs 69.75 and a low of Rs 68.65 so far during the day. The stock had hit a record high of Rs 119.90 on 14 June 2016. The stock had hit a 52-week low of Rs 46.35 on 30 August 2016.

The stock had underperformed the market over the past one month till 10 January 2017, gaining 0.15% compared with the Sensexs 0.57% gains. The scrip had, however, outperformed the market in past one quarter, gaining 21.17% as against the Sensexs 4.21% fall.

The mid-cap company has equity capital of Rs 100.47 crore. Face value per share is Re 1.

Welspun Group, a $2.3 billion global conglomerate operating in home textiles, line pipes and infrastructure announced an investment of Rs 4000 crore for three large textile projects in Gujarat. The three memorandum of understandings (MoUs) which are being signed during the ongoing Vibrant Gujarat Summit 2017 were announced by Mr. BK Goenka - Chairman, Welspun Group at the Summit.

Amongst the larger of the three projects, Welspun will invest Rs 2000 crore in developing an integrated textile manufacturing zone. This will be a part of the Government of Indias Sagarmala project where Kutch is among the first identified key locations.

The company aims to develop a large, modern and futuristic textile industrial complex that will manufacture and supply world class textile products for the global markets. Welspun will leverage on its expertise in developing industrial infrastructures. The Kutch facilitywill provide a unique ecosystem for entrepreneurs to set up manufacturing facilities.

The project will generate direct employment of nearly 5,000 and will provide indirect employment to nearly 15,000 people.

Welspun will further invest Rs 1000 crore in its technical textile business for capacity enhancement, addition of new products and training and skill development. Under this vertical, the company has already made its mark with products for specialised use in healthcare, fire departments and other utilities.

These products include specialised features such as fireretardants, stain resistant, anti-bacterial, PET resistant, and soil resistance, among others. Most of these products are also recyclable. The project will give direct employment to nearly 1,500 people.

Another Rs 1000 crore is being invested in the advanced textile arm of Welspun that focuses on manufacturing specialised materials for applications in aerospace, defense and automobile sectors. The project will generate a direct employment of 2,000 persons and indirect employment of 5,000.

Welspun Group has already invested Rs 10000 crore in Gujarat so far and fresh investments takes total investment to Rs 14000 crore. These investments willfurther consolidate Welspuns global leadership position and explore new avenues for its upcoming businesses in technical as well as advanced textiles.

Welspun India reported consolidated net loss of Rs 147.52 crore in Q2 September 2016 compared with net profit of Rs 179.37 crore in Q2 September 2015. Consolidated net sales rose 18.7% to Rs 1575.71 crore in Q2 September 2016 over Q2 September 2015.

Welspun India is the leading home fashions supplier in the USA and amongst the top 3 global manufacturers of bed and bath linen.

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Board of Carborundum Universal to consider December quarter resutls and interim dividend
Jan 11,2017

Carborundum Universal announced that a meeting of the Board of Directors of the Company is scheduled to be held on 04 February 2017 inter alia to consider and approve the unaudited financial results of the Company for the period ended 31 December 2016.

Further, the Board will also be considering an Interim Dividend proposal for the year 2016-17 at this meeting.

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Jindal Steel & Power leads gainers in A group
Jan 11,2017

Jindal Steel & Power jumped 11.09% to Rs 83.15 at 13:41 IST. The stock topped the gainers in the BSEs A group. On the BSE, 38.39 lakh shares were traded on the counter so far as against the average daily volumes of 9.90 lakh shares in the past two weeks.

JSW Steel surged 5.97% to Rs 188.90. The stock was the second biggest gainer in A group. On the BSE, 16.24 lakh shares were traded on the counter so far as against the average daily volumes of 2.44 lakh shares in the past two weeks.

Hindalco Industries gained 6.09% at Rs 174.15. The stock was the third biggest gainer in A group. On the BSE, 17.62 lakh shares were traded on the counter so far as against the average daily volumes of 10.84 lakh shares in the past two weeks.

IndusInd Bank advanced 5.45% at Rs 1,225.20. The stock was the fourth biggest gainer in A group. On the BSE, 2.96 lakh shares were traded on the counter so far as against the average daily volumes of 89,000 shares in the past two weeks.

Steel Authority of India rose 5.01% to Rs 55.50. The stock was the fifth biggest gainer in A group. On the BSE, 13.18 lakh shares were traded on the counter so far as against the average daily volumes of 4.39 lakh shares in the past two weeks.

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Banco Products (India) fixes record date for interim dividend
Jan 11,2017

Banco Products (India) has fixed 23 January 2017 as the Record Date for the purpose of payment of Interim Dividend.

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Banco Products (India) to pay interim dividend
Jan 11,2017

Banco Products (India) announced that Interim Dividend @Rs. 5/- per Equity Shares of Face Value of Rs. 2/- each i.e. 250% for the Financial Year ending on 31 March 2017 shall be paid on or after 30 January 2017.

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Board of Banco Products (India) declares interim dividend
Jan 11,2017

Banco Products (India) announced that the Meeting of the Board of Directors of the Company was held on 11 January 2017 and inter alia decided / approved the following:

1. The Board declared Interim Dividend @Rs. 5/- per Equity Shares of Face Value of Rs. 2/- each i.e. 250% for the Financial Year ending on 31 March 32017.

2. The Dividend shall be paid on or after 30 January 2017.

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Volumes jump at Gini Silk Mills counter
Jan 11,2017

Gini Silk Mills volume of 2.74 lakh shares by 12:55 IST on BSE, a 210.27-times surge over two-week average daily volume of 1,304 shares. The stock rose 4.18% to Rs 499.80.

The Ramco Cements notched up volume of 10.14 lakh shares, a 78.14-fold surge over two-week average daily volume of 13,000 shares. The stock rose 2.12% to Rs 618.

Colgate-Palmolive (India) saw volume of 3 lakh shares, a 31.05-fold surge over two-week average daily volume of 9,650 shares. The stock declined 0.41% to Rs 888.70.

Federal Bank clocked volume of 52.21 lakh shares, a 14.67-fold surge over two-week average daily volume of 3.55 lakh shares. The stock gained 3.22% to Rs 72.05.

Eicher Motors saw volume of 65,000 shares, a 13.65-fold rise over two-week average daily volume of 4,742 shares. The stock declined 0.01% to Rs 22,985.

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Board of Emami Paper Mills considers working capital facilities
Jan 11,2017

Emami Paper Mills announced that the Financial Committee of Board of Directors at its meeting held on 11 January 2017 transacted the following -

Sanction of renewal cum enhancement of working capital facilities within overall limit of Rs 85 crore by IDBI Bank was considered.

Sanction of working capital facilities within overall limit of 85 crore by IDFC Bank was considered.

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Rose Investments to announce December quarter results
Jan 11,2017

Rose Investments announced that a meeting of the Board of Directors of the Company is scheduled to be held on 31 January 2017, inter alia, to consider and approve Unaudited Financial Results of the Company for the Quarter ended 31 December 2016.

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