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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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Aditya Birla Nuvo gains after RBI hikes FPIs investment limit
Oct 25,2016

Meanwhile, the BSE Sensex was down 94.48 points, or 0.34%, to 28,084.60.

On BSE, so far 9,710 shares were traded in the counter, compared with average daily volume of 1.07 lakh shares in the past one quarter. The stock hit a high of Rs 1,396 and a low of Rs 1,379.50 so far during the day. The stock hit a record high of Rs 1,664 on 9 August 2016. The stock hit a 52-week low of Rs 685 on 29 February 2016. The stock had outperformed the market over the past 30 days till 24 October 2016, falling 1.15% compared with 1.71% decline in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 0.27% as against Sensexs 0.72% rise.

The large-cap company has equity capital of Rs 130.23 crore. Face value per share is Rs 10.

The Reserve Bank of India (RBI) notified after market hours yesterday, that foreign institutional investors (FIIs)/registered foreign portfolios investors (RFPIs) can under the portfolio investment scheme (PIS) now invest up to 30% of the paid up capital of Aditya Birla Nuvo. The purchases could be made through primary market and stock exchanges. RBI stated that the companys board of directors has passed a resolution and its shareholders have passed a special resolution agreeing for enhancing the limit for the purchase of its equity shares by FIIs/RFPIs.

On a consolidated basis, Aditya Birla Nuvos net profit declined 56.79% to Rs 305.15 crore on 1.62% decline in net sales to Rs 3041.30 crore in Q1 June 2016 over Q1 June 2015. The company will announce Q2 results on 10 November 2016.

Aditya Birla Nuvo is a business conglomerate. It commands leadership position across its financial services, telecom, linen and manufacturing businesses.

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Opportunities galore for Japanese investments in Indias tourism infradevelopment: Tourism Minister
Oct 25,2016

Narendra Modi, Prime Minister of India, is determined to make tourism the backbone of the Indian economy as the sector has a multiplier effect on employment generation and foreign exchange earnings. Besides it encourages cultural and people to people exchange, said Dr. Mahesh Sharma, Minister of State (Independent Charge), Ministry of Tourism, Government of India, here today while inaugurating the first-ever IndiaJapan Tourism Meet organized by FICCI in partnership with the Embassy of Japan. The Minister said that the historical ties between India and Japan can be traced back to the sixth century when Buddhism was introduced in Japan. Since then the Japanese have cherished their sentiments towards India. And now India is striving to make the travel to various destinations in the country a truly magnificent experience for Japanese tourists with a strong focus on infrastructure, experience and information.

Dr. Sharma said in India the Buddhist circuit has been set up, which are a set of important locations where Lord Buddha had settled in his lifetime. This circuit should find favor with the Japanese as they are keen followers of Buddhism. He added that medical, wellness and Ayurveda were other areas which Japanese tourists would find endearing.

The Minister said that India lacked 290000 hotel rooms and there was immense scope of investment in infrastructure development for tourism. He urged Japanese business community to explore this area for investment and assured them of Indian governments unstinted support. Dr. Sharma added that the Indian government was working towards creating appropriate tourism infrastructure, maintaining cleanliness of tourism destinations and making the environment safe and secure for foreign tourists.

Kenji Hiramatsu, Ambassador of Japan to India, said that with the framework of Indo-Japan Tourism Council and Indo-Japan Tourism Summit that are set up and organized for the first time in India today, the participants should pursue n++action-orientedn++ outcomes to improve travel and tourism relationship between Japan and India in a visible way. This is a great opportunity for both governments and tourism industry to get together under one roof and to discuss the expansion of bilateral travel and tourism relations. The new networks that will be built among the participants today will create new opportunities, he added.

Hiramatsu said that travel and tourism between Japan and India was not as robust as we would expect, if we take into account the important relationship between the two countries. Japan welcomed about 100,000 visitors from India in 2015, and about 40,000 tourists among them. But 1.13 million Indians visited the United States during the same period. Therefore there is a tremendous potential of expanding travel and tourism between Japan and India.

In his keynote address, Suman Billa, Joint Secretary, Ministry of Tourism, Government of India, said that given Indian and Japans economic ties, the share of tourism between the two nations is miniscule and there is scope to improve the numbers. A marginal rise in the number of tourists visiting the Buddha circuit alone could enable Indian to earn USD 6-8 billion every year. He added that with significant steps tourism could increase five-fold between India and Japan from its current level.

Billa said that Indian tourists avoid Japan as there is a perception that traveling to the country is expensive. Such notions needed to be corrected with improved aviation services and easier visa norms. He added that language was a barrier for Japanese tourists as in India there are not many guides speaking Japanese. Hence there was need to have guides speaking Japanese top attract tourists from Japan.

Kuniharu Ebina, Senior Vice Commissioner, Japan Tourism Agency, said that the Japan National Tourism Organization will open an office in Delhi by the end of fiscal 2016 to promote the attractions of Japan, so that more Indians will be interested in traveling to Japan. Besides, at the Indo-Japan Tourism Council, a bilateral meeting to be held tomorrow, the stakeholders plan to discuss current undertakings and issues of inbound and outbound tourism of both countries, and measures to improve and expand tourism exchanges. The expansion of bidirectional tourism exchanges cannot be achieved without the understanding and assistance of the tourism industry, he added.

Dr. Jyotsna Suri, Immediate Past President-FICCI, Chairperson -FICCI Tourism Committee & CMD - The Lalit Suri Hospitality Group, said that India has a very high potential to be one of the favored destinations amongst the Japanese tourists, given the large number of destinations important from Buddhist interest as well as the burgeoning number of business tourists coming to India. Japan is the 10th largest source market for India in terms of inbound tourist arrivals. There were about 2.07 lakh tourists from Japan who visited India in 2015. Welcoming the delegates who have come all the way from Japan to get a first-hand experience of the wonderful culture of India, Dr. Suri added that with the B2Bs and conference a growth agenda and road map would emerge to further the synergies between India and Japan through tourism

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Tata Renewable Energy signs PPA for 100 MW solar power project
Oct 25,2016

Tata Power Company announced that Tata Renewable Energy has signed a Power Purchase Agreement for a 100 MW solar power project at Anantpuram solar park in Andhra Pradesh with Solar Corporation of India (SECI). The Commercial Operations Date of the project as per the PPA is 16 October 2017. The project has been secured through bidding in the Open Category under the Jawaharlal Nehru National Solar Mission.

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Dr Reddys Lab gains in volatile trade after declaring Q2 result
Oct 25,2016

The announcement was made during market hours today, 25 October 2016. The results are as per International Financial Reporting Standards (IFRS).

Meanwhile, the S&P BSE Sensex was down 84.38 points or 0.3% at 28,094.70

On BSE, so far 64,000 shares were traded in the counter as against average daily volume of 35,035 shares in the past one quarter. The stock was volatile. The stock hit a high of Rs 3,163.90 and a low of Rs 2,842 so far during the day. The stock had hit a 52-week high of Rs 4,375.30 on 4 November 2015. The stock had hit a 52-week low of Rs 2,750 on 21 January 2016. The stock had underperformed the market over the past 30 days till 24 October 2016, falling 2.88% compared with 1.71% decline in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 7.02% as against Sensexs 0.72% rise.

The large-cap company has equity capital of Rs 85.39 crore. Face value per share is Rs 5.

Dr Reddys Laboratories (DRL)s consolidated earnings before interest, taxation, depreciation and amortization (EBITDA) declined 43.64% to Rs 642 crore in Q2 September 2016 over Q2 September 2015. EBITDA margin edged lower to 17.9% in Q2 September 2016, from 28.6% in Q2 September 2015.

Commenting on the companys results, co-chairman and CEO, G V Prasad said that DRLs major businesses have shown sequential improvement in Q2 September 2016 with revenues growing by 11% and EBITDA by 61%. Looking ahead, the company will continue to focus on launching new products in its generics business, improving productivity and strengthening its quality management systems, Prasad said.

Dr Reddys Laboratories is an integrated global pharmaceutical company. It offers a portfolio of products and services including active pharmaceutical ingredients (APIs), custom pharmaceutical services, generics, biosimilars and differentiated formulations.

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e-Postal Ballot System for Service Voters
Oct 25,2016

Decision:

The Government has issued Notification on 21st October, 2016 amending rule 23 of the Conduct of Elections Rules, 1961 enabling service voters, including armed forces personnel, to cast their vote in elections through e-postal ballot. Under this system a blank postal ballot paper would be transmitted to them electronically. This would cut short the delay experienced in the present system in two-way transmission of ballot paper by the postal services. The armed forces personnel serving in remote and border areas would be greatly benefitted since the present system of two-way transmission of ballot paper by the postal services has not been able to meet the expectations of the service voters.

Background:

The difficulties and hardships encountered by the service voters, especially by the armed forces personnel serving the border and remote areas of the country, have been receiving the attention of the Government in recent times. The issue was also agitated before the Honble Supreme Court, in the matter of Neela Gokhale vs. Union of India & Anr. (Writ Petition No. 1005 of 2013) pleading for creating effective mechanism for the Armed Forces Personnel (AFP) and their families to exercise their right to vote easily and effectively.

In the above backdrop, the Government approached the Election Commission with a view to mitigating the difficulties faced by service voters in the matter of exercising their franchise. The technical team of the Election Commission has developed a system whereby blank postal ballot could be electronically transmitted to the voter, namely, e-postal ballot system. Voters entitled to postal ballot such as service voters, can download the postal ballot and print the blank postal ballot. After marking his vote in the blank postal ballot, the same would be returned to the concerned Returning Officer by post as in the present system of postal ballot. The Election Commission proposed that the categories of voters mentioned at rule 18 of the Conduct of Election Rules, 1961 may be made eligible for e-postal ballot system. However, on a pilot basis, e-postal ballot system has been introduced by Notification dated 21st October, 2016 for service voters consisting of (a) armed police forces of the Union; (b) other forces subject to the provisions of the Army Act, 1950; (c) armed forces of a State serving outside that State; and (d) those employed under the Government of India in a post outside India.

Two-way electronic transmission has not been recommended by the Election Commission for security and secrecy reasons.

Major Impact:

One-way electronic transmission of blank postal ballot would considerably cut short the delay in receipt of the marked postal ballot by the Returning Officers on or before the date fixed for the counting of votes. Major beneficiaries would be the entire category of service voters as stated above, especially the armed forces personnel posted in border and remote areas of the country. With the issue of the aforesaid notification, a long-pending and near-unanimous demand of the service voters, including the armed forces personnel, has been fulfilled.

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Fourth Dimension Solutions to hold board meeting
Oct 25,2016

Fourth Dimension Solutions will hold a meeting of the Board of Directors of the Company on 22 October 2016.

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Indraprastha Medical Corporation to hold board meeting
Oct 25,2016

Indraprastha Medical Corporation will hold a meeting of the Board of Directors of the Company on 15 November 2016 to consider and approve the Unaudited Financial Results for the quarter and half year ended September 30, 2016.

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Vantage Knowledge Academy to hold board meeting
Oct 25,2016

Vantage Knowledge Academy will hold a meeting of the Board of Directors of the Company on 11 November 2016 to consider and approve the Un-audited Financial Results for the quarter ended and six months ended September 30, 2016.

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CHPL Industries to hold board meeting
Oct 25,2016

CHPL Industries will hold a meeting of the Board of Directors of the Company on 29 October 2016.

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Hindustan Tin Works to hold board meeting
Oct 25,2016

Hindustan Tin Works will hold a meeting of the Board of Directors of the Company on 4 November 2016 to consider and take on record the unaudited (provisional) financial results for the quarter / half year ended September 30, 2016.

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Shyam Century Ferrous to hold board meeting
Oct 25,2016

Shyam Century Ferrous will hold a meeting of the Board of Directors of the Company on 3 November 2016 to consider, approve and take on record the Unaudited Financial Results of the Company for the second quarter and half year ended September 30, 2016.

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Star Ferro & Cement to hold board meeting
Oct 25,2016

Star Ferro & Cement will hold a meeting of the Board of Directors of the Company on 3 November 2016 to consider, approve and take on record the Unaudited Financial Results of the Company for the second quarter and half year ended September 30, 2016.

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Ravindra Energy to hold board meeting
Oct 25,2016

Ravindra Energy will hold a meeting of the Board of Directors of the Company on 11 November 2016 to consider, approve and take on records the Un-audited Financial Results for the quarter/half year ended September 30, 2016.

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Kkalpana lndustries (India) to hold board meeting
Oct 25,2016

Kkalpana lndustries (India) will hold a meeting of the Board of Directors of the Company on 14 November 2016 to consider and approve the Un-audited Financial Results along with Limited Review Report of the Statutory Auditors thereon of the company for the 02nd quarter ended on September 30, 2016.

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Siddha Ventures to hold board meeting
Oct 25,2016

Siddha Ventures will hold a meeting of the Board of Directors of the Company on 4 November 2016.

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