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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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Indiabulls Housing Finance consolidated net profit rises 23.18% in the September 2016 quarter
Oct 21,2016

Net profit of Indiabulls Housing Finance rose 23.18% to Rs 684.31 crore in the quarter ended September 2016 as against Rs 555.54 crore during the previous quarter ended September 2015. Sales rose 27.58% to Rs 2394.58 crore in the quarter ended September 2016 as against Rs 1876.97 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales2394.581876.97 28 OPM %91.4392.21 - PBDT926.48746.49 24 PBT921.24741.31 24 NP684.31555.54 23

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Ude Desh Ka Aam Naagrik : Civil Aviation Ministrys Regional Connectivity Scheme n++UDANn++ Launched
Oct 21,2016

The Ministry of Civil Aviation took a major step towards making flying a reality for the small town common man. The Civil Aviation Minister Shri P Ashok Gajapathi Raju launched the Ministrys much awaited Regional Connectivity Scheme n++ UDANn++ in New Delhi today. UDAN is an innovative scheme to develop the regional aviation market. It is a market-based mechanism in which airlines bid for seat subsidies. This first-of-its-kind scheme globally will create affordable yet economically viable and profitable flights on regional routes so that flying becomes affordable to the common man even in small towns.

Speaking on the occasion Shri Raju expressed hope that the first flight under the scheme would be able to take off by January next year. He said the scheme had been prepared after a lot of stakeholder consultation and called for support from all players to make it a success.

Also speaking on the occasion the Minister of State for Civil Aviation Shri Jayant Sinha said that the objective of the scheme was n++Ude Desh Ka Aam Naagrikn++ He said this scheme ensure affordability, connectivity, growth and development. It would provide a win-win situation for all stakeholders - citizens would get the benefit of affordability, connectivity and more jobs. The Centre would be able to expand the regional air connectivity and market. The state governments would reap the benefit of development of remote areas, enhance trade and commerce and more tourism expansion. For incumbent airlines there was the promise of new routes and more passengers while for and start-up airlines there is the opportunity of new, scalable business. Airport operators will also see their business expanding as would original equipment manufacturers .

The scheme UDAN envisages providing connectivity to un-served and under-served airports of the country through revival of existing air-strips and airports. The scheme would be in operation for a period of 10 years.

UDAN has a unique market-based model to develop regional connectivity. Interested airline and helicopter operators can start operations on hitherto un-connected routes by submitting proposals to the Implementing Agency. The operators could seek a Viability Gap Funding (VGF) apart from getting various concessions. All such route proposals would then be offered for competitive bidding through a reverse bidding mechanism and the route would be awarded to the participant quoting the lowest VGF per Seat. The operator submitting the original proposal would have the Right of First Refusal on matching the lowest bid in case his original bid is within 10% of the lowest bid. The successful bidder would then have exclusive rights to operate the route for a period of three years. Such support would be withdrawn after a three year period, as by that time, the route is expected to become self-sustainable.

The selected airline operator would have to provide a minimum of 9 and a maximum of 40 UDAN Seats ( subsidized rates )on the UDAN Flights for operations through fixed wing aircraft and a minimum of 5 and a maximum of 13 Seats on the Flights for operations through helicopters. On each such route, the minimum frequency would be three and maximum of seven departures per week. Route networks would also be encouraged under the scheme to achieve economies of scale and optimal usage of aircraft.

The fare for a one hour journey of appx. 500 km on a fixed wing aircraft or for a 30 minute journey on a helicopter would now be capped at Rs. 2,500, with proportionate pricing for routes of different stage lengths / flight duration.

This would be achieved through (1) a financial stimulus in the form of concessions from Central and State governments and airport operators and (2) a Viability Gap Funding to the interested airlines to kick-off operations from such airports so that the passenger fares are kept affordable.

n++ Central Government would provide concessions in the form of reduced excise duty, service tax, permission to trade ASKMs for Non-RCS (UDAN) Seats and flexibility of code sharing at the RCS (UDAN) airports.

n++ State governments will have to lower the VAT on ATF to 1% or less, besides providing security and fire services free of cost and electricity, water and other utilities at substantially concessional rates.

n++ Airport operators shall not impose Landing and Parking charge and Terminal Navigation Landing Charges in addition to discounts on Route Navigation Facility Charges.

A Regional Connectivity Fund would be created to meet the viability gap funding requirements under the scheme. The RCF levy per departure will be applied to certain domestic flights.

The partner State Governments (other than North Eastern States and Union Territories where contribution will be 10 %) would contribute a 20% share to this fund. For balanced regional growth, the allocations under the scheme would be equitably spread across the five geographical regions of the country viz. North, West, South, East and North-east.

The States have a key role under the scheme. The selection of airports where UDAN operations would start would be done in consultation with State Government and after confirmation of their concessions. It may be recalled that revival of dysfunctional airports and starting operations on un-served airports has been a long standing demand of most States and this will be addressed through UDAN to a large extent.

The UDAN is likely to a give a major fillip to tourism and employment generation in the hinterland. Through introduction of helicopters and small aircraft, it is also likely to significantly reduce travel timings in remote and hilly regions, as well as islands and other areas of the country.

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Zylog Systems to hold AGM
Oct 21,2016

Zylog Systems announced that the Annual General Meeting (AGM) of the company will be held on 17 November 2016.

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Board of Indiabulls Housing Finance recommends dividend
Oct 21,2016

Indiabulls Housing Finance announced that the Board of Directors of the Company at its meeting held on 21 October 2016, inter alia, have recommended the dividend of Rs 9 per equity Share (i.e. 450%) , subject to the approval of the shareholders.

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Pearl Global Industries to hold board meeting
Oct 21,2016

Pearl Global Industries will hold a meeting of the Board of Directors of the Company on 8 November 2016, to consider, approve and take on record, Un-audited Financial Results for the quarter and half year ended 30 September 2016.

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Hypersoft Technologies to hold board meeting
Oct 21,2016

Hypersoft Technologies will hold a meeting of the Board of Directors of the Company on 28 October 2016.

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Astro Bio Systems to hold board meeting
Oct 21,2016

Astro Bio Systems will hold a meeting of the Board of Directors of the Company on 12 November 2016, to consider and take on record the unaudited Financial Results for the quarter ended 30 September 2016.

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Kiri Industries to hold board meeting
Oct 21,2016

Kiri Industries will hold a meeting of the Board of Directors of the Company on 12 November 2016, to consider, approve and take on record the Unaudited Financial Results for the quarter ended on 30 September 2016.

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Board of Zee Learn recommends dividend
Oct 21,2016

Zee Learn announced that the Board of Directors of the Company at its meeting held on 21 October 2016, inter alia, have recommended the dividend of Rs 0.05 per equity Share (i.e. 5%) , subject to the approval of the shareholders.

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BigBloc Construction to hold board meeting
Oct 21,2016

BigBloc Construction will hold a meeting of the Board of Directors of the Company on 28 October 2016, to consider and approve Un-audited Financial Results of the Company for Second quarter and half year ended 30 September 2016, and to recommend and declare Interim Dividend for equity shares of the Company for financial year 2016-17.

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Sabrimala Leasing And Holdings to hold board meeting
Oct 21,2016

Sabrimala Leasing And Holdings will hold a meeting of the Board of Directors of the Company on 1 November 2016, to discuss and approve unaudited Quarterly Financial Results of the Company for the Quarter ended 30 September 2016.

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Dwitiya Trading to hold board meeting
Oct 21,2016

Dwitiya Trading will hold a meeting of the Board of Directors of the Company on 31 October 2016, to approve the Unaudited Financial Results of the Company for the quarter and six months ended on 30 September 2016, & Sub-division of Equity Shares of the Company.

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Indus Finance to hold board meeting
Oct 21,2016

Indus Finance will hold a meeting of the Board of Directors of the Company on 31 October 2016, to consider the unaudited Financial Results for the quarter and half year ended 30 September 2016

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Unijolly Investments Company to hold board meeting
Oct 21,2016

Unijolly Investments Company will hold a meeting of the Board of Directors of the Company on 31 October 2016, to consider and approve the un-audited Financial Results of the Company for the 2nd Quarter ended 30 September 2016.

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Indowind Energy to hold board meeting
Oct 21,2016

Indowind Energy will hold a meeting of the Board of Directors of the Company on 31 October 2016, to consider the unaudited Financial Results for the quarter and half year ended 30 September 2016.

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