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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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Interlink Petroleum to hold board meeting
Feb 07,2017

Interlink Petroleum will hold a meeting of the Board of Directors of the Company on 13 February 2017, to consider and approve the audited financial results of the Company for the quarter / period ended on 31 December 2016.

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3.56 Cr fake/duplicate accounts identified for 2015-16 under PAHAL
Feb 07,2017

The Minister of State (I/C) for Petroleum & Natural Gas Shri Dharmendra Pradhan said that implementation of PAHAL has resulted in identification of 3.34 crore and 3.56 crore ghost/fake/duplicate accounts during Financial Year 2014-15 and 2015-16 respectively. The total subsidy / under recovery on domestic LPG during the financial years 2014-15 and 2015-16 was Rs. 40569 crore and Rs 16074 crore, respectively. Lower subsidy during the last year is due to various factors, including introduction of direct transfer of subsidies into the accounts of consumers (PAHAL Scheme) and fall in international crude oil prices.

As on 29 January 2017, 1,05,46,090 LPG consumers have voluntarily given up/ surrendered their LPG subsidy. Government has also issued a circular stating that the benefit of the LPG subsidy will not be admissible for the LPG consumers, if the consumer or his wife/her spouse had taxable income of Rs. 10 lakh and above during the previous financial year computed as per the income Tax Act 1961.

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Mohit Industries provides business update
Feb 07,2017

Mohit Industries announced that compared to last financial years export of Rs. 57 crore, it has already achieved export sales of Rs. 63 crore with 2 months to go. Company has good export orders and thus plans to close the financial year 2016-17 with export turnover in excess of Rs. 75 crore, which will be jump of more than 30% compared to last year.

Looking at the demand scenario, company has completed construction of approximately 60,000 square feet of building at Kim, Gujarat and has started putting more machines to increase capacity. Company plans to increase it yarn capacity by 50% within next 4 months.

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Mukta Arts provides operations update
Feb 07,2017

Mukta Arts announced that the latest addition to the Mukta Cinemas screens is New Excelsior Mukta A2 Cinema at C.S.T., Mumbai which is opening on 10 February 2017 with Jolly LLB2. This is the 50th screen of Mukta Cinemas.

Further under a JV with Andhras leading Distributors Asian Cinema, Mukta Cinemas another single screen at Gangavati, Andhra became operational on 03 February 2017 with Telugu Film Nenu Local with all shows going full and creating record at the centre.

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Sunil Healthcare announces demise of director
Feb 07,2017

Sunil Healthcare announced that Joginder Singh, Independent Director of the Company died on 03 February 2017, therefore he ceased to hold office as director of the Company.

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Balaji Amines advances after good Q3 result
Feb 07,2017

The result was announced after market hours yesterday, 6 February 2017.

Meanwhile, the S&P BSE Sensex was down 47.88 points or 0.17% at 28,391.40

On BSE, so far 17,000 shares were traded in the counter as against average daily volume of 7,406 shares in the past one quarter. The stock hit a high of Rs 380 in intraday trade today, 7 February 2017, matching its record high of Rs 380 hit earlier on 3 November 2016. The stock hit a low of Rs 354.40 so far during the day. The stock had hit a 52-week low of Rs 115 on 12 February 2016.

The small-cap company has equity capital of Rs 6.48 crore. Face value per share is Rs 2.

Balaji Amines manufactures methylamines, ethylamines, derivatives of specialty chemicals and natural products.

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Pioneer Distilleries declines after dismal Q3 results
Feb 07,2017

The result was announced after market hours yesterday, 6 February 2017.

Meanwhile, the S&P BSE Sensex was down 85.99 points, or 0.3%, to 28,353.29.

On the BSE, 3,559 shares were traded on the counter so far as against the average daily volumes of 6,447 shares in the past one quarter. The stock had hit a high of Rs 184.50 and a low of Rs 176.20 so far during the day.

The stock had hit a 52-week high of Rs 262.50 on 10 February 2016 and a 52-week low of Rs 81.60 on 16 March 2016.

The small-cap company has equity capital of Rs 13.39 crore. Face value per share is Rs 10.

Pioneer Distilleries net sales fell 31.5% to Rs 25.37 crore in Q3 December 2016 over Q3 December 2015.

Pioneer Distilleries is engaged in manufacturing of alcohol.

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Automotive Axles rises after good Q3 earnings
Feb 07,2017

The result was announced after market hours yesterday, 6 February 2017.

Meanwhile, the S&P BSE Sensex was down 59.91 points, or 0.21%, to 28,379.37

On BSE, so far 2,141 shares were traded in the counter, compared with an average volume of 2,095 shares in the past one quarter. The stock hit a high of Rs 684 and a low of Rs 668.05 so far during the day. The stock hit a 52-week high of Rs 799.90 on 16 September 2016. The stock hit a 52-week low of Rs 510.25 on 11 February 2016.

The small-cap company has an equity capital of Rs 15.11 crore. Face value per share is Rs 10.

Automotive Axles manufactures drive axles, non-drive axles, front steer axles, specialty & defence axles and drum & disc brakes. It provides these products to the major domestic and global manufacturers of trucks & buses.

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Gujarat Gas gains after good Q3 financial performance
Feb 07,2017

The announcement was made after market hours yesterday, 6 February 2017.

Meanwhile, the S&P BSE Sensex was down 64.73 points or 0.23% at 28,374.55

On BSE, so far 22,000 shares were traded in the counter as against average daily volume of 19,959 shares in the past one quarter. The stock hit a high of Rs 626.50 and a low of Rs 613.15 so far during the day. The stock had hit a record high of Rs 690.35 on 19 August 2016. The stock had hit a 52-week low of Rs 477 on 1 March 2016.

The mid-cap company has equity capital of Rs 137.68 crore. Face value per share is Rs 10.

Gujarat Gas is a city gas distribution company with presence spread across 19 districts in Gujarat and the Union Territory of Dadra Nagar Haveli and the Thane geographical area which includes Palghar district of Maharashtra.

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Jayant Agro Organics fixes record date for 3rd interim dividend
Feb 07,2017

Jayant Agro Organics has fixed 17 February 2017 as the Record Date for the purpose of Payment of Third Interim Dividend.

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Board of Hexaware Technologies gives in-principle approval for merging Risk Technology
Feb 07,2017

The Board of Directors of Hexaware Technologies at its meeting held on 07 February 2017 has given an in-principle approval for merger of the wholly owned subsidiary, Risk Technology International with Hexaware Technologies subject to compliance under Companies Act, 2013, SEBI regulations and other applicable laws.

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Board of Hexaware Technologies declares interim dividend
Feb 07,2017

Hexaware Technologies announced that the Board of Directors of the Company at its meeting held on 07 Febraury 2017, inter alia, has declared payment of interim dividend @ Re. 1/- per share (50%) on equity shares of Rs. 2/- each.

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Percentage of milk producers/farmers with bank accounts increase from 49.27% to 63.42% after demonetization
Feb 07,2017

Consequent upon the Central Governments decisions of demonetization, certain unintended impacts have been observed especially in the sectors thriving upon sheer cash transactions. In this regard, non-availability of funds to the co-operative banks for making payments to Milk producers/farmers by dairy co-operative against the milk supplied by them came to the notice of the Government.

Responding promptly to the prevailing situation of reported payment problems, the Union Minister of Agriculture and Farmers Welfare, Shri Radha Mohan Singh has regularly reviewed and directed to take appropriate action to alleviate the problems. Meetings with Mother Dairy, Gujarat Cooperative Milk Marketing Fed (GCMMF) /Amul, Delhi Milk Scheme and other State Co-operative Dairy Federations are taken at regular intervals.

In order to take stock of the prevailing situation, the Secretary Animal Husbandry, Dairying and Fisheries, Shri Devendra Chaudhry has accordingly convened a series of meetings and initiated actions for streamlining the payment system to Milk producers and even sale of milk to consumers through cashless transactions primarily.

GCMMF/Amul has been specifically directed to ensure 100% milk producers accounts to be opened by 30th December, 2016. Similarly, other co-operatives have been directed to ensure the opening of 100% accounts of milk producers/farmers by 30th January, 2017.

Specific instructions have been issued to all the agencies such as National Dairy Development Board, Mother Dairy, Delhi Milk Scheme and all state Dairy co-operative federations for ensuring direct payment to milk producers bank account at the earliest. Low penetration of nationalized banks and co-operative bank accounts in rural areas need adequate financial support with appropriate safe guards. This department vides D.O. letters dated 06.12.2016 have taken up the matter with the Department of Economic Affairs and Reserve Bank of India to provide necessary funding support to the cooperative banks in rural areas with appropriate safeguard to protect the interest of milk producers and for timely payment of the milk supplied by them.

It is to be noted that there are 1.70 lakh Dairy Co-operative Societies (DCS) at village level having 1.6 crore milk producers affiliated with 218 milk unions. About 850 lakh litres per day Milk is procured totally, of which co-operative sector procures about 425 lakh litres per day and about 425 lakh litres per day is procured by private sector. The value of the milk procured by Village level DCS is to the tune of rupees 120 crore per day. For weekly and 10 days payment cycle the substantive amount is to be disbursed to lakhs of milk producers spread over varied geographical areas.

Using the window of opportunity opened by the demonetization decision, it is high time to accelerate the opening of bank accounts of all those unbanked milk producers to make it cashless and digital sooner than later. Eventually, transparency saving habits, financial enclosure etc. would be benefiting milk producer in multiple ways.

The situation of easing the payment to milk producers is being reviewed and monitored periodically by the Central Government.

As per information received from NDDB and 23 major State Co-op dairy federations, the status of cashless payment to milk producers is as below:

Participating agencies i.e

NDDB Dairy Services and 23 State Milk Federations

No of Farmers (Nos in Lakh)Details of payment done (amount Rs in Crore)Total with bank account without  bank account % farmers having bank A/cTotal through Bank accounts through Cash% cashless TransactionPre- Demonetization (1- 8th Nov 2016)31.6415.5916.0549.27 %? 215.23? 51.28? 153.7723.82 %Post-Demonetization (9th Nov 2016 to 18 Jan 2017) 88.9956.4332.5663.42 %? 1,146.60? 828.39? 318.2172.25 %

The above table shows that:-

1.      The percentage of farmers with bank accounts has increased from 49.27% to 63.42%.

2.      The cashless transaction to farmers after demonetization has increased from 23.82% to 72.25%.

3.      Due to close follow up, now only 27.75% farmers are being paid through cash, balance through bank accounts. Further that, the sale of milk has gone up by 2.81% in December 2016 as compared to December 2015 and the overall sale of milk from April- Dec 2016 has gone up to  328.91 lakh litres per day as compared to 321.43 lakh litres per day in April- Dec 2015.

It is evident from the above facts that situation regarding making cashless payment to the farmers has considerably improved over last two months and there is no negative impact of demonetization.

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India and Austria Sign a Protocol amending the India-Austria Double Taxation Avoidance Convention
Feb 07,2017

India and Austria signed a Protocol amending the existing Convention between the two countries for Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income here today. The Protocol was signed by Shri Sushil Chandra, Chairman CBDT on behalf of India and Mr. Georg Zehetner, Charge d Affaires, Embassy of Austria on behalf of Austria.

The Protocol will broaden the scope of the existing framework of exchange of tax related information which will help curb tax evasion and tax avoidance between the two countries and will also enable mutual assistance in collection of taxes.

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Honeywell Automation jumps after strong Q3 earnings
Feb 07,2017

The result was announced after market hours yesterday, 6 February 2017.

Meanwhile, the S&P BSE Sensex was down 49.21 points, or 0.17%, to 28,393.99.

A jump in share price was accompanied by higher than usual volumes on the counter. On the BSE, 1,057 shares were traded on the counter so far as against the average daily volumes of 66 shares in the past one quarter. The stock had hit a high of Rs 10,518 and a low of Rs 10,025 so far during the day.

The stock had hit a record high of Rs 10,167.05 on 17 May 2016 and a 52-week low of Rs 7,750.60 on 12 February 2016.

The mid-cap company has equity capital of Rs 8.84 crore. Face value per share is Rs 10.

Honeywell Automation India is a leader in providing integrated automation and software solutions, including process solutions and building solutions.

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