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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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Requisite Technology Developed for Rice Fortification with Iron for addressing incidence of Anaemia
Nov 24,2016

The Department of Biotechnology (DBT) through R&D support to IIT, Kharagpur has developed the requisite technology on the fortification with Iron for addressing the incidence of anaemia. This involves production of Iron fortified rice premix through extrusion process using broken rice kernels. This iron fortified rice kernel premix matches with the normal rice kernel in shape and size, and when mixed with normal rice in the ratio of 1:100 provides 50% of recommended daily allowance (RDA) of Iron. This technology can also be used to fortify rice with other micro nutrients, as well. The incremental cost of fortification has been estimated by IIT-Kharagpur to be upto 80 paise per kg of rice.

The steps taken by Government to take forward the rice fortification model to all parts of the country to deal with nutritional deficiency among the women and children is as follows:

A Pilot Scale Unit with a capacity of 100 kg/hr/shift has been commissioned at IIT-Kharagpur. The technology is ready for demonstration and transfer to prospective entrepreneurs. The same can be commercialized. However, for introduction in the Govt programmes such as Mid-day Meal Scheme and ICDS to address micro nutrient deficiencies in children, DBT would be willing to set up pilot scale production unit in States who would be interested. Accordingly, an MoU could be executed between DBT and the respective State Government Departments. This technology was also deliberated in the n++National Summit on Fortification of Foodn++ which was an Inter Ministerial meeting convened by FSSAI on 16th and 17th October, 2016, which was attended by State and Central Government officials, Industry representatives and academia. Further, DBTs proposal on the above issue has also been shortlisted in the Inter State Council Secretariat for the Eastern Zonal States - Bihar, Jharkhand, Odisha, West Bengal under their social outreach programme.

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Wipro grants Restricted Stock Units
Nov 24,2016

Wipro with effect from 01st November 2016 has granted 5,000 Restricted Stock Units under Restricted Stock Unit Plan 2007.

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Wipro completes acquisition of Appirio
Nov 24,2016

Wipro has announced that it had completed the acquisition of Appirio on 23 November 2016.

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Talwalkars Better Value Fitness approves Scheme of Arrangement
Nov 24,2016

The board of Talwalkars Better Value Fitness on 24th November 2016 has approved the Scheme of Arrangement between Talwalkars Better Value Fitness and Talwalkers Lifestyles Limited and their respective shareholders providing for the demerger of the Gym business of TBVFL to TLL.

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Krishna Ventures company secretary resigns
Nov 24,2016

Krishna Ventures has announced that Ms. Krishna Parekh the Company Secretary and Compliance Officer of the Company has resigned from her position on 23rd November 2016.

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Board of Sword-Edge Commercials consider change in registered office
Nov 24,2016

Sword-Edge Commercials announced that the Board of Directors of the Company at its meeting held on 24 November 2016 has considered change in registered office to Plot No. 71, MIDC, Cross Road C, Opposite Seepz Gate No.2, Andheri East, Mumbai - 400093 with immediate effect.

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Indo Tech Transformers gets ratings reaffirmed
Nov 24,2016

Fitch India Ratings and Research has affirmed IND BBB-/Stable for the long-term issuer rating of Indo Tech Transformers. The agency has also affirmed the Long-term IND BBB- rating with a Stable Outlook and Short-term IND A3 rating.

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Virgo Global Media to hold AGM
Nov 24,2016

Virgo Global Media has announced that the Annual General Meeting of the Company will be held on 16 December 2016.

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FPIs step up selling
Nov 24,2016

Foreign portfolio investors (FPIs) sold stocks worth a net Rs 1094.93 crore into the secondary equity markets on 23 November 2016, higher than their net outflow of Rs 674.60 crore during the preceding trading session on 22 November 2016. The net outflow of Rs 1094.93 crore on 23 November 2016 was a result of gross purchases of Rs 4235.29 crore and gross sales of Rs 5330.22 crore. On that day, the Sensex rose 91.03 points or 0.35% to settle at 26,051.81, its highest closing level since 18 November 2016.

There was a net outflow of Rs 0.17 crore into the category primary markets & others on 23 November 2016, which was a result of gross purchases of Rs 0.33 crore and gross sales of Rs 0.50 crore.

FPIs have sold stocks worth a net Rs 15611.13 crore into the secondary equity markets in this month so far (till 23 November 2016). They sold shares worth a net Rs 5258.22 crore from the secondary equity markets last month. FPIs have purchased shares worth a net Rs 25559.92 crore from the secondary equity markets in calendar year 2016 so far (till 23 November 2016). They sold shares worth a net Rs 4863.71 crore into the secondary equity markets in calendar year 2015.

There has been a net inflow of Rs 1886.07 crore from FPIs into the category primary markets & others in this month so far (till 23 November 2016). There was a net inflow of Rs 951.96 crore from FPIs into the category primary markets & others last month. The net inflow from FPIs into category primary markets & others has totaled Rs 7701.74 crore in calendar year 2016 so far (till 23 November 2016). There was net inflow of Rs 22168.40 crore from FPIs into the category primary markets & others in calendar year 2015.

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Board of Talwalkars Better Value Fitness approves scheme of arrangement
Nov 24,2016

The Board of Directors of Talwalkars Better Value Fitness at its meeting held on 24 November 2016 approved scheme of arrangement between Talwalkars Better Value Fitness (Demerged Company) and Talwalkars Lifestyles (Resulting Company) and their respective shareholders providing for the demerger of Gym Business of Talwalkars Better Value Fitness to Talwalkars Lifestyles.

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Yes Bank allots equity shares
Nov 24,2016

Yes Bank has allotted 96,375 equity shares of face value of Rs 10 each on November 24, 2016 under the JESOP IV, JESOP V, PESOP I and PESOP II - 2010.

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Indusind Bank allots equity shares
Nov 24,2016

Indusind Bank has allotted 62,980 equity shares of Rs 10 each on 24 November 2016 to those grantees who had exercised their option under the Companys Employee Stock Option Scheme.

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State Trading Corporation of India suspends CMD
Nov 24,2016

State Trading Corporation of India vide communication received from the Department of Commerce, Ministry of Commerce & Industry has suspended Khaleel Rahim the CMD of the Company w.e.f. 18th November 2016.

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Accelya Kale Solutions wins top honors at ITSMA 2016 Marketing Excellence Awards
Nov 24,2016

Accelya Kale Solutions has received top honors at ITSMA 2016 Marketing Excellence Awards for its REVERA strategic Product Group Program. ITSMA (Information Technology Services Marketing Association) announced the awards during its 23rd Annual Conference in Cambridge, Massachusetts.

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Aeronautical Services Tariffs and Airport Charges at Major Airports Reviewed and Revised From Time To Time
Nov 24,2016

The Government of India has established Airports Economic Regulatory Authority (AERA) in 2009 under an Act of Parliament viz. AERA Act, 2008 to determine the tariffs in respect of aeronautical services provided at major airports in the country. AERA determines the aeronautical tariff in respect of major airports based on stakeholder consultation. The tariffs are reviewed and revised by AERA every five years considering the investment and expenditure incurred by the airport operator, improving efficiency and viability of the airport with a view to rationalize the charges.

The airport charges are allowed to airports operators as mean to provide fair rate of return on the investment made by the airport developer. Since huge investments are made by the developers while construction of the airport, the charges are comparatively higher during the initial period of the airport commencement. However, the charges gets substantially reduced once the investment for the development is recovered.

The airport charges at Delhi airport is comparatively lower than several other similarly placed airports across the globe. Besides, AERA has already notified the airport charges for Delhi airport for 2nd Control Period wherein the charges have been substantially reduced.

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