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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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Rupee gains marginally
Jan 10,2017

Rupee closed marginally higher at 68.1779/1930 per dollar on Tuesday (10 January 2017), versus its previous close of 68.20/21 per dollar.

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Bhel secured Rs 96 crore order for augmentation of EHV substations
Jan 10,2017

Bharat Heavy Electricals has bagged an order from Power Grid Corporation of India for the augmentation of three Extra High Voltage substations in the state of Karnataka, on turnkey basis. The order is valued at Rs 96 crore. The augmentation of 400/220 kV substation facilities is linked with the transmission system being set up for evacuation of solar power and shall play a key role for transfer of Renewable Energy power from Indias largest Ultra Mega Solar Power Park (2000 MW) Phase-II (Part A) to be set up at Tumkur (Pavagada) district on 10,000 acres of land.

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Board of Jay Energy & S Energies appoints directors
Jan 10,2017

Jay Energy & S Energies announced that the Board of Directors in their meeting held on 09 January 2016 has appointed Jitendrasingh H. Rathod and Silaben Lalluram Sharma as an additional Director of the Company.

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Plans for 24x7 Power For All in true spirit of Cooperative Federalism-Piyush Goyal
Jan 10,2017

The Ministry of Power, Government of India signed the MoU for Ujwal DISCOM Assurance Yojana (UDAY) with Tamil Nadu in New Delhi, on 9th January, 2017. Also, with the signing of the 24x7 Power For All (PFA) roadmap document with the State, the roadmap for all the 28 States, except one, and all the 7 Union Territories in the country have now been finalized and is under implementation. It is the most significant milestone in this initiative founded on the principles of cooperative federalism.

Providing access to reliable and quality power supply to all citizens/ establishments by 2019 is at the core of the Prime Minister of India, Shri Narendra Modis vision for the nation and the Ministry of Powers 24x7 PFA

The Program has been instrumental in mainstreaming the Ministrys focus on energy efficiency and Demand Side Management interventions and has resulted in increased participation with speedy rollout of the UJALA/ DELP and other EESL led schemes. It is important to note that UJALA has emerged as the worlds largest and most successful LED bulbs program.

Increased role of central sector agencies, such as NTPC, in addressing sectors operational viability in the case of proposed acquisition of state owned generation assets in Rajasthan and in fast-tracking capacity addition in the case of Patratu project in Jharkhand are outcomes of the comprehensive approach adopted under 24x7 PFA Program to resolve state specific problems.

Besides development of segment wise coordinated physical rollout plans and rigorous analysis on financial viability of state utilities under the 24x7 PFA program in two States of Rajasthan and Andhra Pradesh, the plans for which were made in first 100 days of coming of this Government, led to the formulation of the UDAY. Looking at the balance sheets of these states, it was found that unless the states are taken out of the debt trap in which they were in and made financially sustainable, all plans of 24x7 would remain unfulfilled.

The PFA Program has also benefited several states in addressing funding gap for the investments required to ensure 24x7 power access to all. The funding gap analysis conducted as part of the exercise enabled the Ministry to assist states through innovative means of financing including mechanisms such as additional funding under ongoing programs (like DDUGJY, IPDS), multilateral funding, additional support from FIs and PPPs etc.

Electricity being a concurrent subject and given the focus of the Government on pursuing cooperative federalism, the first task was to develop and agree on detailed roadmaps for each state. State specific roadmaps were prepared under the guidance of the Ministry of Power and Central Electricity Authority (CEA). 24x7 PFA initiative has provided the much needed platform for all-encompassing integrated planning. In addition to integrated planning at the level of vertically unbundled utilities and other state level agencies, the exercise also provided an opportunity for mainstreaming the efforts of all central level ministries and agencies, such as Ministry of Coal, MNRE, PGCIL, NTPC, BEE, EESL, REC, PFC etc., to ensure access to reliable and quality power to all households/ establishments in each and every state by 2019.

To further augment the effort of the states under the 24x7 PFA initiative, the Ministry is now formulating a scheme for funding of the investments required to ensure last mile connectivity to all households which are not already covered under DDUGJY and state schemes.

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Andhra Petrochemicals resumes plant operations
Jan 10,2017

Andhra Petrochemicals announced that the Plant has resumed operations from 10 January 2017.

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Padmanabh Industries subsidiary acquires leasing rights of Ahmedabad team
Jan 10,2017

Padmanabh Industries announced that the Wholly owned Subsidiary of the Company i.e. Padmanabh Sports offered to acquire the team leasing rights of Ahmedabad for Indian Volleyball League to be held in 2017 and the same proposal has been accepted by Sportz & Live Entertainment.

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ABB India secures Rs 4350 crore mega project from Power Grid Corporation of India
Jan 10,2017

ABB has teamed up Power Grid Corporation of India in a mega project worth over Rs 4350 crore for ABB to deliver a transmission link that will have the capacity to bring reliable electricity to more than 80 million people.

The Raigarh-Pugalur 800 kilovolt (kV) ultrahigh-voltage direct current (UHVDC) system will connect Raigarh in Central India to Pugalur in thesouthern state of Tamil Nadu.

The 1,830 kilometer (km) link will be among the longest in the world. With a capacity of 6,000 megawatts - the equivalent of more than six large power plants - it will be enough to meet the electricity needs of over 80 million people in India. The two-way link will integrate thermal and wind energy for transmission of power to high consumption centers located thousands of kilometers away, supporting electricity demands in the south, when wind strength is low, and transmitting clean energy to the north, when there is excess wind power.

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Somany Ceramics issues Commercial Paper aggregating Rs 15 crore
Jan 10,2017

Somany Ceramics has issued Commercial paper of Rs. 15.00 crore value dated 10 January 2017 having maturity on 24 March 2017.

The aforesaid issuance of commercial paper is to reduce high interest bearing cash credit limits and in turn reducing cost of borrowing.

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J Kumar Infraprojects gets ratings assigned for CP programme
Jan 10,2017

J Kumar Infraprojects announced that India Ratings and Research has assigned rating of IND A1+ to the Rs 25 crore Commercial Paper (CP) programme.

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Hikal announces successful USFDA insepction of its API and Intermediates manufacturing facility
Jan 10,2017

Hikal announced that the Companys API and Intermediates manufacturing facility located at Jigani, Bangalore was recently inspected by the US FDA in compliance with their requirements. At the end of the successful inspection, the Company have been informed by the Investigator that n++zeron++ 483 observations were issued. This was a routine inspection by the US FDA.

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Grasim Industries allots 4,460 equity shares
Jan 10,2017

Grasim Industries announced that the Stakeholders Relationship Committee of the Board of Directors of the Company has approved allotment of 4,460 Equity shares of Rs. 2 each of the Company upon exercise of stock options and restricted stock units under the Companys Employee Stock Option Scheme, 2006 and Employee Stock Option Scheme, 2013.

These shares shall rank pari passu with the existing equity shares of the Company in all respects and shall be subject to the provisions of the Memorandum and Articles of Association of the Company.

Consequent to the above allotment, the equity share capital of the Company stands increased to 46,68,01,520 equity shares of Rs. 2 each aggregating to Rs. 93,36,03,040.

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Andhra Bank announces change in CFO
Jan 10,2017

Andhra Bank announced that K Rayar, General Manager is designated as the Chief Financial Officer of the Bank with effect from 09 January 2017 in place of Y Amarnath, General Manager.

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Speedage Commercials announces change in company secretary and compliance officer
Jan 10,2017

Speedage Commercials announced that Nikhil Hule has tendered his resignation from the post of Company Secretary cum Compliance Officer of Company vide his resignation letter dated 09 January 2017; which has been accepted w.e.f. 09 January 2017; hence he stands ceased as Company Secretary cum Compliance Officer of Company on the close of working hours on 09 January 2017.

Further, Dilip Kumar Swarnkar has been appointed in his place as Company Secretary cum Compliance Officer of Company w.e.f. 10 January 2017.

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Board of Bharat Electronics to consider sub-division of shares
Jan 10,2017

Bharat Electronics announced that at the Board of Directors meeting scheduled on 27 January 2017, the proposal for Sub-division of equity shares of the company of face value of Rs. 10/- each will be consider by the Board.

The aforesaid proposal, if approved by the Board, will be subject to the approval of the Shareholders

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ISGEC Heavy Engineering fixes record date for interim dividend
Jan 10,2017

ISGEC Heavy Engineering has fixed 20 January 2017 as the Record Date for the purpose of Payment of Interim Dividend.

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