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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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Board of Shalimar Paints approves draft Letter of Offer for proposed rights issue
Jun 29,2017

The Board of Directors of Shalimar Paints at its meeting held on 29 June 2017 has considered and approved the draft Letter of Offer of the Company and related documents in respect of the proposed Rights Issue of Rs. 50 crore.

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Board of Gala Print City approves sub-division of equity shares
Jun 29,2017

Gala Print City announced that in the board meeting held on 29 June 2017, besides other subjects, the following matters were considered, discussed, and approved by resolution passed thereof by the board:

1. Approved sub-division of existing equity shares of Rs. 10/- each fully paid up into equity shares of Rs. 5/- each fully paid-up subject to the approval of shareholders in the General Meeting.

2. Approved revision in Terms of Remuneration of Vishal Gala, Managing Director up to maximum of Rs. 25,00,000/-subject to the confirmation of shareholders in the General Meeting.

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Atishays empanelment as Enrolment Agency gets renewed
Jun 29,2017

Atishay announced that the Companys Empanelment as Enrolment agency has been renewed till March 2020 by Govt. of India, Ministry of Communications and IT, Unique Identification Authority of India and now the Company is entitled to undertake demographic and biometric data by UIDAI on PAN INDIA basis under category F4 - T3.

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Maharashtra Seamless gets revision in outlook for rating on working capital limits
Jun 29,2017

Maharashtra Seamless announced that ICRA has revised the outlook on long term rating to Stable from Negative for the Companys Rs 718.5 crore working capital limits.

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Board of SRF approves private placement of NCDs up to Rs 300 crore
Jun 29,2017

SRF announced that the Board of Directors at its meeting held on 28 June 2017, has resolved to offer and issue Listed, Secured, Redeemable, Non-Convertible Debentures (NCDs) aggregating up to Rs. 300 crore, on a Private Placement basis and delegated the responsibility of allotment of NCDs and completing the formalities only for allotment of NCDs, to the Committee of Directors - Financial Resources.

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JSW Steel moves up after proposing slurry pipe line
Jun 29,2017

The announcement was made during market hours today, 29 June 2017.

Meanwhile, the S&P BSE Sensex was up 138.76 points, or 0.46% at 30,977.25.

On the BSE, 4.45 lakh shares were traded on the counter so far as against the average daily volumes of 6.91 lakh shares in the past one quarter. The stock had hit a high of Rs 205.75 and a low of Rs 198.80 so far during the day. The stock had hit a record high of Rs 209.35 on 17 May 2017 and a 52-week low of Rs 138 on 28 June 2016.

The stock had underperformed the market over the past one month till 28 June 2017, falling 0.8% compared with 0.62% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 8.78% as against Sensexs 4.84% gains. The scrip, had also outperformed the market in past one year, gaining 38.41% as against Sensexs 16.25% gains.

The large-cap company has equity capital of Rs 241.72 crore. Face value per share is Rs 1.

Transportation of iron ore through slurry pipeline is an environmentally friendly initiative and globally this shift towards pipeline transportation is evident. Accordingly, the proposed slurry pipeline not only contribute to alternate sourcing of iron ore from outside Karnataka at competitive price but is also highly environment friendly with no pollution.

As the availability of iron ore at a fair price within Karnataka is of paramount importance for long term sustainability of the company and environment friendly transportation of iron ore, the board of directors has given an approval to set up a slurry pipeline to transport iron ore from coastal Karnataka to the Vijayanagar works.

This slurry pipeline can be set up within 24 months at an estimated cost of Rs 2100 crore. This will facilitate transporting iron ore through slurry pipeline at a very competitive 15% cost of alternate means of transport.

This strategic project will enable the company to source almost 50% of the current requirement of iron ore at Vijayanagar works from outside Karnataka either from imports or from Odisha/eastern sector at prices lower than the prevailing prices in Karnataka.

The only way to check this arbitrary pricing of iron ore in Karnataka is to increase the supplies from alternate sources. JSW Steel will work towards establishing the slurry pipeline in a time bound manner. Simultaneously, the company is also exploring the feasibility to set up slurry pipelines for transporting coal from coastal Karnataka to Vijayanagar works, JSW Steel said.

JSW Steel said that it has been operating its 12 million tonnes per annum (MTPA) integrated steel plant at Vijayanagar works in Karnataka. The plant has been set up with substantial investments relying upon consistentsupply of iron ore at a fair price.

The Supreme Court of India, in the backdrop of measures undertaken to curb illegal mining in this region, imposed several restrictions which inter-alia includes a cap of mining 30 MTPA of iron ore per annum within Karnataka. Even after a lapse of over 4 years, the current rate of iron ore production in Karnataka is still around 27 MTPA, far lower than the demand by the user industries.

The objective of these restrictions imposed by the Supreme Court is to curb illegal mining, facilitate sale of iron ore in a transparent manner and to make available adequate amount of iron ore to the user industry. The apex court has also given a special dispensation to the state owned mining entities namely National Mining Development Corporation and Mysore Minerals to produce in excess of their statutorily permitted quantities within the overall ceiling of 30 MTPA.

As the demand for iron ore is far in excess of supply, the mining companies have started charging differential price for the iron ore produced and sold in Karnataka relative to the prices prevailing in Odisha/Chhattisgarh, contrary to the intent of making available legally mined ore at competitive price.

Taking advantage of the scarcity of iron ore in Karnataka and inability of the user industry to source iron ore from outside Karnataka due to prohibitive freight cost, the mining companies are squeezing the iron and steel industry which is already under severe margin pressure.

JSW Steels consolidated net profit spurted 235.4% to Rs 1008.58 crore on 57.1% increase in net sales to Rs 16287.30 crore in Q4 March 2017 over Q4 March 2016.

JSW Steel is the leading integrated steel company in India.

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CARE Ratings jumps after CRISIL acquires 8.9% stake
Jun 29,2017

CRISIL made the announcement during market hours today, 29 June 2017.

Shares of CRISIL rose 1.57% to Rs 1,950.05.

Meanwhile, the S&P BSE Sensex was up 146.99 points or 0.48% at 30,981.31. The S&P BSE Mid-Cap index was up 89.29 points or 0.62% at 14,591.98.

Huge volumes were witnessed on the counter. On the BSE, 27.73 lakh shares were traded in the counter of CARE Ratings so far as against average daily volume of 10,683 shares in the past one quarter. The stock had hit a high of Rs 1,660 and a low of Rs 1,429 so far during the day. The stock had hit a 52-week high of Rs 1,694.95 on 3 April 2017. The stock had hit a 52-week low of Rs 962.50 on 26 July 2016.

The stock had underperformed the market over the past one month till 28 June 2017, falling 2.03% compared with 0.62% fall in the Sensex. The scrip had also underperformed the market in past one quarter, dropping 4.94% as against Sensexs 4.84% gains. The scrip, had, however, outperformed the market in past one year, jumping 44.32% as against Sensexs 16.25% gains.

The mid-cap company has equity capital of Rs 29.45 crore. Face value per share is Rs 10.

CRISIL said that it has acquired 26.22 lakh equity shares or 8.9% of the total paid up equity share capital of the company at Rs 1,659.79 per share today, 29 June 2017.

The investment has been made pursuant to a bid process conducted by Canara Bank, subsequent to their request for quotation issued on 19 June 2017. Canara Bank held 8.9% stake in the firm as at 31 March 2017.

This investment in the equity of CARE has no special rights and is in compliance with applicable rules and regulations.

CRISIL continuously evaluates investment options as a part of its corporate strategy. This stake purchase is an investment in the excellent long term prospects of the credit rating sector in the country. The prospects for the sector are driven by the significant demand for capital investments and infrastructure financing in India over the long term, much of which should benefit the sector, CRISIL said.

CARE Ratings net profit rose 8.2% to Rs 38.45 crore on 1.5% rise in net sales to Rs 76.38 crore in Q4 March 2017 over Q4 March 2016.

CARE Ratings is a credit rating agency in India. CARE provides the entire spectrum of credit rating that helps the corporates to raise capital for their various requirements and assists the investors to form an informed investment decision based on the credit risk and their own risk-return expectations.

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BEML advances on bargain hunting
Jun 29,2017

Meanwhile, the S&P BSE Sensex was up 116.57 points, or 0.38% at 30,950.89. The S&P BSE Mid-Cap index was up 84.83 points, or 0.58% at 14,587.52.

On the BSE, 31,000 shares were traded on the counter so far as against the average daily volumes of 46,683 shares in the past one quarter. The stock had hit a high of Rs 1,482.25 and a low of Rs 1,432 so far during the day. The stock had hit a 52-week high of Rs 1,570.45 on 22 June 2017 and a 52-week low of Rs 770.15 on 23 November 2016.

The stock had outperformed the market over the past one month till 28 June 2017, advancing 18.25% compared with the Sensexs 0.62% fall. The scrip had also outperformed the market over the past one quarter gaining 9.87% as against the Sensexs 4.84% rise. The scrip had also outperformed the market over the past one year advancing 71.35% as against the Sensexs 16.25% rise.

The mid-cap company has equity capital of Rs 41.64 crore. Face value per share is Rs 10.

Shares of BEML had declined 6.84% in the preceding three trading sessions to settle at Rs 1,438.75 yesterday, 28 June 2017, from its closing price of Rs 1,544.40 on 22 June 2017.

BEMLs net profit rose 27.1% to Rs 186.40 crore on 17.1% increase in net sales to Rs 1315.95 crore in Q4 March 2017 over Q4 March 2016.

BEML was established in May 1964 as a public sector undertaking for manufacture of rail coaches & spare parts and mining equipment at its Bangalore complex. The Government of India held 54.03% stake in BEML (as per the shareholding pattern as on 31 March 2017).

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Credit Analysis and Research leads gainers in A group
Jun 29,2017

Credit Analysis and Research jumped 9.52% to Rs 1,564.50 at 13:45 IST after CRISIL said that it has acquired 26.22 lakh equity shares or 8.9% of the total paid up equity share capital of the company at Rs 1,659.79 per share today, 29 June 2017. The stock topped the gainers in the BSEs A group. On the BSE, 27.7 lakh shares were traded on the counter so far as against the average daily volumes of 30,000 shares in the past two weeks.

GVK Power & Infrastructure surged 9.01% to Rs 7.14. The stock was the second biggest gainer in A group. On the BSE, 26.24 lakh shares were traded on the counter so far as against the average daily volumes of 17.73 lakh shares in the past two weeks.

Jaiprakash Associates gained 7.61% at Rs 21.50. The stock was the third biggest gainer in A group. On the BSE, 1.41 crore shares were traded on the counter so far as against the average daily volumes of 1.96 crore shares in the past two weeks.

IIFL Holdings advanced 6.62% at Rs 592.90. The stock was the fourth biggest gainer in A group. On the BSE, 60,000 shares were traded on the counter so far as against the average daily volumes of 1.16 lakh shares in the past two weeks.

Amtek Auto rose 4.92% to Rs 30.90. The stock was the fifth biggest gainer in A group. On the BSE, 75,000 shares were traded on the counter so far as against the average daily volumes of 20.79 lakh shares in the past two weeks.

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Volumes jump at Siti Networks counter
Jun 29,2017

Siti Networks clocked volume of 3.36 crore shares by 13:52 IST on BSE, a 242.10-times surge over two-week average daily volume of 1.39 lakh shares. The stock fell 0.53% to Rs 27.90.

City Union Bank notched up volume of 29.16 lakh shares, a 100.60-fold surge over two-week average daily volume of 29,000 shares. The stock rose 1.91% to Rs 181.

Credit Analysis and Research (CARE) saw volume of 27.71 lakh shares, a 91.31-fold surge over two-week average daily volume of 30,000 shares. The stock rose 9.83% to Rs 1,568.85.

Central Bank of India clocked volume of 1.87 crore shares, a 35.86-fold surge over two-week average daily volume of 5.23 lakh shares. The stock rose 3.10% to Rs 89.75.

Venkys (India) saw volume of 1.06 lakh shares, a 6.88-fold rise over two-week average daily volume of 15,000 shares. The stock rose 11.99% to Rs 1,605.

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DCB Bank allots 1,84,875 equity shares
Jun 29,2017

DCB Bank has allotted 1,84,875 equity shares of Rs.10/- each on 29 June 2017, pursuant to the terms of the Employee Stock Option Plan (ESOP) of the Bank. Post this allotment, Banks issued and paid up share capital has increased to 307,541,658 shares of Rs.10/- each.

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Outcome of board meeting of Pincon Lifestyle
Jun 29,2017

Pincon Lifestyles announced that the Board of Directors at its meeting held on 29 June 2017 has approved becoming 100% shareholder of a new company to be formed in Sarjah Media City Free Zone - Shams, Dubai with the name of Pincon Lifestyle LLC.

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Rajesh Exports bags an export order
Jun 29,2017

Rajesh Exports announced that the Company has bagged a new export order worth Rs 774 crore.

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TCFC Finance to hold AGM
Jun 29,2017

TCFC Finance announced that the 26th Annual General Meeting (AGM) of the company will be held on 22 August 2017.

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Alkali Metals to hold AGM
Jun 29,2017

Alkali Metals announced that the 49th Annual General Meeting (AGM) of the company will be held on 4 August 2017.

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