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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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Suven Life gets healthy after securing two product patents
Jan 03,2017

The announcement was made during market hours today, 3 January 2017.

Meanwhile, the BSE Sensex was up 38.94 points, or 0.15%, to 26,634.39.

On the BSE, 27,878 shares were traded in the counter so far, compared with average daily volume of 64,034 shares in the past one quarter. The stock had hit a high of Rs 179.50 and a low of Rs 171 so far during the day. The stock had hit a 52-week high of Rs 269.40 on 5 January 2016. The stock had hit a 52-week low of Rs 144.35 on 19 February 2016.

The stock had underperformed the market over the past one month till 2 January 2017, falling 3.86% compared with Sensexs 1.39% rise. The scrip had also underperformed the market in past one quarter, dropping 13.57% as against Sensexs 4.56% decline.

The small-cap company has equity capital of Rs 12.73 crore. Face value per share is Re 1.

Suven Life Sciences announced the grant of one product patent from Eurasia and one product patent from Norway corresponding to the new chemical entities (NCEs) for the treatment of disorders associated with neurodegenerative diseases and these patents are valid through 2032 and 2025 respectively.

The granted claims of the patents are from the mechanism of action include the class of selective H3 Inverse agonist compounds and 5HT6 compounds and are being developed as therapeutic agents and are useful in the treatment of cognitive impairment associated with neurodegenerative disorders like Alzheimers disease, Attention deficient hyperactivity disorder (ADHD), Huntingtons disease, Major Depressive disorder (MDD), Parkinson and Schizophrenia.

Suven Life Sciences net profit rose 5.2% to Rs 26.56 crore on 1.2% decline in net sales to Rs 115.55 crore in Q2 September 2016 over Q2 September 2015.

Suven Life Sciences is a biopharmaceutical company specializing in drug discovery and developmental activities in central nervous system disorders and contract research and manufacturing services (CRAMS).

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Hisar Spinning Mills announces change in directorate
Jan 03,2017

Hisar Spinning Mills announced about the details of changes in the Board of Directors w.e.f. 29 December 2016:

1. Appointment of Mithlesh Kumar Gupta, Sudesh Kumar Garg and Sandeep Suri, as Additional Directors (Independent &Non-Executive) and Shri Nikhil Goel, as Additional Director (Non-Independent &Non-Executive) on the Board of Directors of the Company.

2. Resignation of Gopal Krishan, Managing Director, Tirloki Nath Goel & Vikas Gupta, Independent & Non-Executive directors.

3. Appointment of Anurag Gupta as the Managing Director of the Company for a period of five years.

4. Appointment of Navin Kansal as the Chief Executive Officer of the Company.

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Canara Bank announces cessation of director
Jan 03,2017

Canara Bank announced that the term of Officer Director G V Manimaran was completed on 02 January 2017 and has ceased to be the Director of the Board of the Bank.

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Balrampur Chini Mills gains after setting record date for share buyback plan
Jan 03,2017

The announcement was made after market hours yesterday, 2 January 2017.

Meanwhile, the S&P BSE Sensex was up 69.55 points or 0.26% at 26,665

On the BSE, 4.20 lakh shares were traded on the counter so far as against the average daily volumes of 2 lakh shares in the past one quarter. The stock had hit a high of Rs 137.90 and a low of Rs 132.50 so far during the day.

The stock had hit a 52-week high of Rs 138 on 1 August 2016 and a 52-week low of Rs 70.15 on 1 January 2016. The stock had outperformed the market over the past one month till 2 January 2017, advancing 9.95% compared with the Sensexs 1.39% rise. The scrip had also outperformed the market over the past one quarter advancing 20.97% as against the Sensexs 4.56% fall.

The mid-cap company has equity capital of Rs 24.50 crore. Face value per share is Re 1.

Balrampur Chini Mills said that the buyback committee of the board of directors at its meeting held yesterday, 2 January 2017 has fixed 13 January 2017 as the record date for the buyback of equity shares. The companys board had on 15 November 2016 approved buyback of upto 1 crore equity shares representing upto 4.08% of the total paid-up share capital of the company. The buyback price is Rs 175 per share payable in cash for an aggregate amount of upto Rs 175 crore. The buyback will be on a proportionate basis through the tender offer route.

Balrampur Chini Mills reported net profit of Rs 106 crore in Q2 September 2016, as compared to net loss of Rs 13.59 crore in Q2 September 2015. Net sales rose 77.1% to Rs 887.48 crore in Q2 September 2016 over Q2 September 2015.

Balrampur Chini Mills is one of the largest integrated sugar manufacturing companies in India. Its allied business consists of manufacturing and marketing of ethyl alcohol and ethanol, generation and selling of power. The company has sugar 10 factories located in UP having an aggregate crushing capacity of 76,500 tons per day.

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Kotak Mahindra Bank announces Q3 and 9M results
Jan 03,2017

Kotak Mahindra Bank announced that a meeting of the Board of Directors of the Bank will be held on 25 January 2017 to consider and take on record the unaudited financial results, standalone and consolidated, for the quarter and nine months ended 31 December 2016 (Q3).

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Union Bank of India announces cessation of CFO
Jan 03,2017

Union Bank of India announced that Vivekanand H. Kamath, Chief Financial Officer has superannuated on 31 December 2016.

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Sejal Glass provides financial and business update
Jan 03,2017

Sejal Glass has paid debt of Rs 650 crore in its books and is in process of becoming almost debt free. The Company has taken the following steps -

- Reducing fixed costs and started converting it into variable costs.
- Improve production efficiencies
- change sales policy to secured payment terms.

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White Diamond Industries launches new medines and nutritional prodcuts
Jan 03,2017

White Diamond Industries announced the launch of the following medicinal and nutritional products - Durva Powder, Rasayan Capsule, Thyrocare Capsule, Gokharu Capsule and Powder, Sitopaladi Powder, Gaumutra - Gomutra and Organic Honey.

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Titan jumps after impressive business update in Q3
Jan 03,2017

The company issued the business update after market hours yesterday, 2 January 2017.

Meanwhile, the S&P BSE Sensex was up 37.63 points or 0.14% at 26,633.08.

On the BSE, 1.34 lakh shares were traded on the counter so far as against the average daily volumes of 3.25 lakh shares in the past one quarter. The stock had hit a high of Rs 351.55 and a low of Rs 339 so far during the day.

The stock had hit a 52-week high of Rs 445 on 7 September 2016 and a 52-week low of Rs 296.30 on 21 November 2016. It had outperformed the market over the past one month till 2 January 2017, surging 6.47% compared with the Sensexs 1.39% rise. The scrip had, however, underperformed the market over the past one quarter declining 15.82% as against the Sensexs 4.56% fall.

The large-cap company has equity capital of Rs 88.78 crore. Face value per share is Rs 1.

Titan said it had one of its best festive seasons in the last few years with both Tanishq and Watches performing well above expectations.

Titan said that post the announcement of demonetization on 8 November 2016, all consumer facing businesses of the company witnessed a drastic slowdown for a few days after which recovery was clearly visible in modern retail and dedicated retail channels.

While the sale in these channels has recovered to pre-demonetisation levels, the sale in the trade channel in Watches (the multi brand outlets) has taken a hit and is yet to recover as most transactions in these outlets have been on cash basis, the company said.

The company is in the process of introducing multiple modes of electronic payment in all its stores, including UPI, E-wallets etc in order to provide customers with a plethora of payment options.

The company will continue the thrust on all its growth levers and introduce well designed products and collections to attract customers, Titan said. It also plans to continue with store expansions and investment plans in order to capitalize on the opportunities for growth and expansion.

Titan Companys net profit rose 23.5% to Rs 180.76 crore on 0.7% decline in net sales to Rs 2636.44 crore in Q2 September 2016 over Q2 September 2015.

Titan Companys main business lines are watches, jewellery and eyewear.

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Suven Life Sciences secures two product patents
Jan 03,2017

Suven Life Sciences has been granted one (1) product patent from Eurasia (025136) and one (1) product patent from Norway (339034) corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases and these Patents are valid through 2032 and 2025 respectively.

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Bhilwara Technical Textiles Board to review Q3 and 9M results
Jan 03,2017

Bhilwara Technical Textiles announced that a meeting of the Board of Directors of the Company is scheduled to be held on 20 January 2017, to consider and approve the unaudited financial results of the Company for the quarter and Nine Months ended the 31 December 2016.

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Board of Elecon Engineering Company to consider Q3 and 9M results
Jan 03,2017

Elecon Engineering Company announced that the meeting of the Board of Directors of the Company will be held on 08 February 2017, to consider and approve the Unaudited Financial Results (Both Standalone & Consolidated) for the quarter & nine months ended on 31 December 2016.

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Maral Overseas to announce Q3 and 9M results
Jan 03,2017

Maral Overseas announced that a meeting of the Board of Directors or the Company is scheduled to be held on 20 January 2017 to consider and approve the unaudited financial results of the Company for the quarter and nine months ended the 31 December 2016.

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Panacea Biotec increases availability of Life Saving Drug Cilamin 250
Jan 03,2017

Panacea Biotec announced that it has increased the availability of Life Saving Drug Cilamin 250 (D-Penicillamine IP 250 mg) Capsules used for treatment of Wilsons disease, Rheumatoid, Arthritis and other conditions. These capsules witnessed short supply in the market during last few months due to non-availability of raw material i.e. D-Penicillamine, in India.

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MEP Infra strengthens after receiving fee collection rights for toll plaza
Jan 03,2017

The announcement was made during market hours today, 3 January 2017.

Meanwhile, the BSE Sensex was unchanged at 26,595.68.

On the BSE, 23,297 shares were traded in the counter so far, compared with average daily volume of 45,621 shares in the past one quarter. The stock had hit a high of Rs 39 and a low of Rs 36.30 so far during the day. The stock had hit a 52-week high of Rs 50 on 23 September 2016. The stock had hit a record low of Rs 34 on 24 November 2016.

The stock had outperformed the market over the past one month till 2 January 2017, rising 3.56% compared with Sensexs 1.39% rise. The scrip had, however, underperformed the market in past one quarter, dropping 10.57% as against Sensexs 4.56% decline.

The small-cap company has equity capital of Rs 162.57 crore. Face value per share is Rs 10.

MEP Infrastructure Developers announced that it has received the letter of acceptance (LOA) dated 2 January 2017 from National Highways Authority of India (NHAI) informing that it has been engaged as the contractor for the collection of user fee through competitive bidding on e-tender basis only for Brijghat fee plaza for the section of Hapur-Garhmuketeshwar of National Highways No. 24 in Uttar Pradesh.

The period of the contract is one year. The contractual amount for the project is Rs 60.03 crore payable to NHAI on a weekly basis over a period of one year.

The operations will commence within two days after complying the statutory formalities namely, submission of performance security, signing of contract as per the letter of acceptance.

MEP Infrastructure Developers consolidated net profit jumped 655.8% to Rs 62.42 crore on 1.2% drop in net sales to Rs 437.70 crore in Q2 September 2016 over Q2 September 2015.

MEP Infrastructure Developers is among the leading players in tolling operations in the road infrastructure sector.

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