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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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Hindustan Unilever to pay interim dividend
Oct 26,2016

Hindustan Unilever announced that interim dividend of Rs 7 per share for FY 2017 will be paid on or after 15 November 2016.

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ITC inches up after declaring good Q2 result
Oct 26,2016

The result was announced during market hours today, 26 October 2016.

Meanwhile, the S&P BSE Sensex was down 257.28 points or 0.92% at 27,834.14

On BSE, so far 20.91 lakh shares were traded in the counter as against average daily volume of 9.93 lakh shares in the past one quarter. The stock was volatile. The stock hit a high of Rs 242.45 and a low of Rs 233.60 so far during the day. The stock had hit a 52-week high of Rs 266 on 8 September 2016. The stock had hit a 52-week low of Rs 178.67 on 29 February 2016. The stock had underperformed the market over the past 30 days till 25 October 2016, sliding 3.81% compared with 0.72% decline in the Sensex. The scrip also underperformed the market in past one quarter, falling 3.63% as against Sensexs 0.24% rise.

The large-cap company has equity capital of Rs 1211.51 crore. Face value per share is Re 1.

ITC said that the company delivered steady performance in Q2 September 2016 despite a challenging operating environment marked by continuing pressure on legal cigarette industry volumes, increase in input cost and subdued demand conditions prevailing in the FMCG industry. Operating conditions in the hotels and paperboards, paper and packaging segment also remained subdued, ITC said.

The performance of the cigarette business in Q2 September 2016 remained subdued on account of continued pressure on the legal cigarette industry in India. Over the last 4 years, the incidence of excise duty and VAT on cigarettes, at a per unit level, has gone up cumulatively by 118% and 142% respectively thereby exerting severe pressure on legal industry volumes even as illegal trade grows unabated. It is pertinent to note that steep increases in excise duty on cigarettes in recent years have resulted in widening the differential in excise duty rates (on a per kg. of tobacco basis) between cigarettes and other tobacco products from 29 times in 2005/06 to over 53 times currently. High incidence of taxation and a discriminatory regulatory regime on cigarettes in India have over the years led to a significant shift in tobacco consumption to lightly taxed or tax-evaded tobacco products like bidi, khaini, chewing tobacco, gutkha and illegal cigarettes which presently constitute over 89% of total tobacco consumption in the country. Besides adversely impacting the performance of the legal cigarette industry, this has led to sub-optimisation of the revenue potential from the tobacco sector.

The operating environment for the legal cigarette industry in India was rendered even more challenging in the wake of a further increase of 10% in excise duty announced in the Union Budget 2016 and introduction of the new 85% graphic health warnings (GHW) on cigarette packages, ITC said.

The FMCG segment revenue rose 13.3% in Q2 September 2016 over Q2 September 2015 amidst weak demand conditions, with most major categories recording improvement in market standing. The personal care products business continued to focus on product mix enrichment and augmenting its product portfolio.

Segment revenue in hotels business was flattish in Q2 September 2016 over Q2 September 2015 reflecting the subdued operating conditions in the Indian hospitality industry, which continues to be impacted by excessive room inventory in key domestic markets and sluggish macroeconomic environment both in India and major source markets.

The agri business continued to leverage the e-Choupal network to source superior quality wheat at competitive cost and deliver substantial savings to the system through efficient logistics management and other cost-optimisation initiatives. The agri business revenue grew by 2% in Q2 September 2016 over Q2 September 2015 on the back of higher agri-commodity sales in the domestic market offset by lower supplies to the companys FMCG businesses (mainly account timing differences in offtake).

Segment revenue of paperboards, paper & packaging in Q2 September 2016 remained impacted by the subdued demand environment prevailing in the FMCG and legal cigarette industry.

ITC is a diversified company, with presence in cigarettes, hotels, paperboards & specialty papers, packaging, agri-business, packaged foods & confectionery, information technology, branded apparel, personal care, stationery and other FMCG products. ITC is a market leader in cigarettes.

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UFO Moviez India to hold board meeting
Oct 26,2016

UFO Moviez India will hold a meeting of the Board of Directors of the Company on 8 November 2016 to consider and approve the unaudited financial results of the Company for the quarter and half year ended September 30, 2016.

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Coffee Day Enterprises to hold board meeting
Oct 26,2016

Coffee Day Enterprises will hold a meeting of the Board of Directors of the Company on 14 November 2016 to consider the Standalone & Consolidated unaudited financial results of the Company for the quarter/ half year ended September 30, 2016 and the Consolidated results of its subsidiary, M/s. Coffee Day Global Limited.

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Allied Computers Intl. (Asia) to hold board meeting
Oct 26,2016

Allied Computers Intl. (Asia) will hold a meeting of the Board of Directors of the Company on 11 November 2016 to consider and take on record the Unaudited Financial Results for the quarter ended September 30, 2016.

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Voltamp Transformers to hold board meeting
Oct 26,2016

Voltamp Transformers will hold a meeting of the Board of Directors of the Company on 9 November 2016 to consider and approve the Unaudited Financial Results of the Company for the Quarter ended September 30, 2016.

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Prabhav Industries to hold board meeting
Oct 26,2016

Prabhav Industries will hold a meeting of the Board of Directors of the Company on 11 November 2016.

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Simplex Mills Company to hold board meeting
Oct 26,2016

Simplex Mills Company will hold a meeting of the Board of Directors of the Company on 11 November 2016 to consider and adoption of Un-audited Financial Results for the quarter ended September 30, 2016.

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Simplex Papers to hold board meeting
Oct 26,2016

Simplex Papers will hold a meeting of the Board of Directors of the Company on 11 November 2016 to consider and adoption of Un-audited Financial Result for the quarter ended September 30, 2016.

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Sakuma Exports to hold board meeting
Oct 26,2016

Sakuma Exports will hold a meeting of the Board of Directors of the Company on 8 November 2016 Approve and take on record the Un-Audited Financial Results (Standalone) for the quarter and half year ended September 30, 2016.

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Arman Holdings to hold board meeting
Oct 26,2016

Arman Holdings will hold a meeting of the Board of Directors of the Company on 11 November 2016.

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Bannari Amman Spinning Mills to hold board meeting
Oct 26,2016

Bannari Amman Spinning Mills will hold a meeting of the Board of Directors of the Company on 11 November 2016 to consider and approve the Unaudited Financial Results for the quarter ended September 30, 2016.

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Aadhaar Ventures India to hold board meeting
Oct 26,2016

Aadhaar Ventures India will hold a meeting of the Board of Directors of the Company on 11 November 2016 to consider and take on record, the Unaudited Financial Results for the quarter ended September 30, 2016.

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NFL presents Dividend of Rs. 52.35 crores
Oct 26,2016

National Fertilizers (NFL) presented dividend of Rs. 52.35 crores to the Government of India for the year 2015-16 in respect of the shares held by it. Chairman and Managing Director of NFL Manoj Mishra paid dividend to Union Minister for Chemicals & Fertilizers Ananth Kumar. This is the highest dividend paid by the company in the last 10 years. NFL achieved the best ever urea production of 38 lakh MT in 2015-16 and registered a profit after tax of Rs. 197 crore for the year.

Ananth Kumar said that the Fertilizer Sector is undergoing revolution and the various policy initiatives undertaken by the Government have resulted in the highest ever production of urea in the country. He said the performance is an outcome of the inspiring leadership of the Honble Prime Minister Sh. Narender Modi and his desire for the well being of the people. The Minister said the Government is working on reverse SEZs in the countries where there is good availability of gas. He said NFL is expanding and diversifying- it is reviving a urea plant in Ramagundam, putting up a MoP plant in Gujarat and a Sulphur plant in Haryana. On the issue of Direct Benefit Transfer(DBT) in Fertilizer Sector, he said the need for it was being felt for a long time but now a pilot project is going on in 16 districts. On the basis of the outcomes on this pilot project, DBT will be further expanded. He called for suggestions and cooperation from all the stakeholders in making DBT in Fertilizer a success.

Mansukh Lal Mandaviya congratulated NFL for good performance. He said the Prime Minister has called for doubling the income of farmers by 2022 and the Ministry is working in this direction by making available abundant and affordable fertilizers to the farmers. Domestic production of fertilizers is being increased and balanced use of fertilizers in the field is being promoted.

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IL&FS Engineering & Construction Co to hold board meeting
Oct 26,2016

IL&FS Engineering & Construction Co will hold a meeting of the Board of Directors of the Company on 2 November 2016 to consider, approve and take on record the Unaudited Financial Results of the Company for the Quarter and Half-Year Ended September 30, 2016.

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