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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 J Kumar Infraprojects to consider September quarter and half year results
Nov 30,2016

J Kumar Infraprojects announced that a Board Meeting of the Company will be held on 09 December 2016, inter alia:

- To consider and take on record the Un-Audited Financial Results for Quarter and Six Months ended on 30 September 2016

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D B Realty to announces Q2 and HY results
Nov 30,2016

D B Realty announced that a meeting of the Board of Directors of the Company will be held on 09 December 2016, inter alia, to consider and approve the unaudited financial statements of the Company for the 2nd quarter and half year ended 30 September 2016.

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Board of Vedanta approves private placement of NCDs aggregating Rs 200 cr
Nov 30,2016

Vedanta announced that the meeting of Board constituted Committee of Directors held on 30 November 2016 approved offering for subscription, on private placement basis, up to 2000 secured, rated, listed, redeemable, non-convertible debentures of face value of Rs 10 lakh each aggregating up to 200 crore.

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Board of A F Enterprises to consider alteration in AoA and MoA
Nov 30,2016

A F Enterprises announced that the meeting of the Board of Directors will be held on 06 December 2016, inter alia, to transact the following businesses:

1. To adopt new set of AOA and MOA as per Companies Act, 2013.

2. To alter the main objects of the Company by means of Postal Ballot.

3. To consider and approve draft notice of Postal Ballot.

4. To consider and approve the appointment of Mukta Debnath as the Company Secretary & Compliance Officer of the Company.

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Dr Lal Pathlabs announces resignation of nominee director
Nov 30,2016

Dr Lal Pathlabs announced that the Company has, on November 30, 2016 received, an intimation dated 29 November 2016 from Naveen Wadhera, Nominee Director, tendering his resignation from the Company with immediate effect.

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Board of Swiss Glascoat Equipments to consider preferential allotment of warrants
Nov 30,2016

Swiss Glascoat Equipments announced that the Meeting of the Board of Directors of the Company is convened on 03 December 2016, to transact the business as stated in the agenda sent to the Directors and in particular for approval related to the issue and allotment of warrants convertible into equity shares on preferential basis in accordance with the provisions of Chapter VII of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended from time to time.

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Board of Steel Authority of India to consider Q2 results
Nov 30,2016

Steel Authority of India announced that the meeting of the Board of Directors of Company will be held on 08 December 2016, inter-alia, to consider, approve and take on record the Unaudited Financial Results of the Company for the half year ended September 30, 2016 (Q2).

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Public-sector steel manufacturing industries affected by low demand and falling prices
Nov 30,2016

The public-sector steel manufacturing industries under Steel Authority of India Limited (SAIL) and RashtriyaIspat Nigam (RINL) are affected by factors like slow growth in steel demand, falling prices because global steel glut leading to import of steel at very low prices resulting in surge in steel imports during 2014-15 and 2015-16.

The Government of India took various steps to support the domestic steel sector, some of which are as given below:

i. Increase in peak rate of Custom Duty on steel to 15%.  Effective rate of import duty was increased in phases to 10% on Long products and 12.5% on Flat products from pre-revised level of 5% and 7.5% respectively.

ii. Against a petition by the domestic steel producers, Safeguard duty on HR Coils of 20% notified in September, 2015 provisionally and final notification issued for the same in March, 2016 extending 20% Safeguard duty up to September, 2016.  Thereafter, phased reduction to 18% (till March, 2017), 15% (till September, 2017) and 10% by March, 2018.

iii. The Government of India notified Minimum Import Price (MIP) on select steel products (5th February, 2016) and further extended it on certain steel products for two months with effect from 5th August, 2016 and again for two months with effect from 5th October, 2016.

iv. Provisional Anti-dumping duty notified on import of flat products (Hot Rolled & Cold Rolled) and on Wire Rods from China, Japan, Korea, Russia, Brazil, Indonesia & Ukraine vide notifications dated 8th August, 2016, 17th August, 2016 and 2nd November, 2016.

v. Government amended the Steel and Steel Products (Quality Control) Order, 2012 from time to time to ensure that only quality steel is imported into India.

The plant-wise Profit (+)/ Loss (-) of SAIL is given as under:-

(Rs. in crore)

Plant/ Unit2013-142014-152015-16Bhilai Steel Plant (BSP)20852232405Durgapur Steel Plant (DSP)416506-527Rourkela Steel Plant (RSP)212232-2524Bokaro Steel Plant (BSL)202451-2203IISCO Steel Plant (ISP)-653-1072-1939Alloy Steel Plant (ASP)-93-134-83Salem Steel Plant (SSP)-376-355-466Visvesvarya Iron Steel Plant (VISL)-123-97-116SAIL Refractory Unit (SRU)3721Chandrapur Ferro Plant (CFP)-78-45-78Raw Material Division (RMD)/ Central Units1628634310SAIL Profit (+)/ Loss (-) Before Tax32252359-7198Tax6082663061SAIL Profit (+)/ Loss (-) After Tax26162093-4137

RINL is a single unit steel producing CPSE. The Profit (+)/ Loss (-) of RINL is given as under:

(Rs.in crore)

Particulars2013-142014-152015-16Profit After Tax (PAT)36662(-) 1421

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PTC India Financial Services to allot equity shares to PTC India
Nov 30,2016

PTC India Financial Services announced that the Committee of Directors of the Company in their meeting held on 29 November 2016 considered and approved the Preferential Allotment of 8,02,00,000 equity shares of Rs. 10/- per share at an issue price of Rs. 38.50/- per share (including premium of Rs. 28.50/- per shares) to PTC India, a person belonging to Promoter Group.

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Board of Wanbury approves grant of stock options
Nov 30,2016

Wanbury announced that the Board of Directors of the Company at its meeting held on 29 November 2016, inter alia, has considered and approved the following:

- Grant of Employee Stock Option Plan (ESOP) to the extent of 3,00,000 equity shares to the employee/s of the Company.

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Board of Arfin India to consider preferential allotment of convertible warrants
Nov 30,2016

Arfin India announced that a meeting of the Board of Directors of the Company is scheduled to be held on 02 December 2016, inter alia, to consider allotment of 10,32,857 Convertible Warrants of Rs. 10/- (Rs. Ten only) per Warrant at premium of Rs. 165/- (Rs. One Hundred and Sixty Five only) per Warrant aggregating to Rs. 175/- (Rs. One Hundred and Seventy Five only) on preferential basis in accordance with the provisions of Chapter VII of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 and pursuant to the inprinciple approval granted by Stock Exchanges as per Regulation 28 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

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Mac Charles (India) to hold board meeting
Nov 30,2016

Mac Charles (India) announced that the Board Meeting of the Company is scheduled to be held on 01 December 2016 :

- To Co-Opt Two Additional Directors From Embassy Property Developments , among other Normal Agenda items.

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Board of Venkys (India) to consider September quarter and half year results
Nov 30,2016

Venkys (India) announced that meeting of the Board of Directors of the Company will be held on 06 December 2016, inter alia, to consider, approve and take on record the Audited Financial Results (prepared in accordance with Circular dated 05 July 2016) of the Company for quarter and half year ended 30 September 2016.

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Supreme Petrochem gets upgradation in ratings for bank facilities
Nov 30,2016

Supreme Petrochem announced that India Ratings and Research (India-Ra) has upgraded Supreme Petrochem (SPL) Long Term Issuer Ratings to IND A+ from IND A. The outlook is stable. The agency has also taken following rating actions on SPL bank facilities :

-Rs 100 crore fund-based limits: upgraded to IND A+/Stable/IND A1+ from IND A/IND A1-Rs 1120 crore (reduced from Rs 1185 crore) non-fund based limits: upgraded to IND A+/Stable/ IND A1+ FROM IND A/IND A1.

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Emerging East Asian Bond Yields Rise Amid Uncertainties on US Economic Policy
Nov 30,2016

Bond yields in most emerging East Asian markets rose between 31 October and mid-November due to increased concerns over the direction of United States (US) economic policy, according to the Asian Development Banks (ADB) latest Asia Bond Monitor.

n++Strong fundamentals such as high levels of foreign reserves will help emerging East Asia withstand the short-term impacts of a likely US rate hike,n++ said Juzhong Zhuang, ADBs Deputy Chief Economist.

Local currency bond yields increased in nearly all markets in emerging East Asia which saw upticks in the 2-year and 10-year bond yields except for the Peoples Republic of Chinas (PRC) 2-year bond, which was unchanged.

All of the regions currencies depreciated against the US dollar in the wake of the US election. Equity markets weakened throughout the region except in the PRC and Singapore.

Emerging East Asias outstanding local currency bonds grew by 3.3% quarter-on-quarter and 19.2% year-on-year, reaching $10.4 trillion by end September. Local currency bond issuance, meanwhile, fell to $1.2 trillion in Q3 2016 from $1.3 trillion in Q2 2016 due to a contraction in bond sales in the PRC and the Republic of Korea. The PRC remains the regions largest bond market, accounting for 68.8% of total bond stock, valued at $7.2 trillion.

The report notes several risks for emerging East Asian bond markets. These include market reactions to the prospective rate hike by the US Federal Reserve and the uncertainty with respect to the economic policy of the new US administration. Further, continued global risk aversion toward emerging markets and the threat of rising protectionism could unsettle the regions markets. A n++hard Brexitn++ could also have repercussions for emerging East Asia due to the regions financial links with Europe.

The Asia Bond Monitor also reports findings from its annual bond market survey which provides an assessment of emerging East Asian bond market liquidity. The survey conducted in late September and early October noted that overall liquidity conditions improved in 2016 from a year earlier. Survey respondents said that diversifying investors in bond markets is the most important factor to help improve liquidity in the regions bond markets.

The report includes a special chapter that explores the determinants of infrastructure bond market development in Asia and derives policy implications for the region. The report finds that while meaningful progress has been made in the development of infrastructure bond markets, supported by the Association of Southeast Asian Nations Plus Three (ASEAN+3) regional financial cooperation initiatives, multilateral institutions can further help develop infrastructure bond markets in the region through credit guarantees.

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