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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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Tirupati Industries (India) appoints director
Oct 19,2016

Tirupati Industries (India) announced that the Board of Directors of the Company at its meeting held on 19 October 2016, have appointed N R Thange as an Additional Director (Executive) on the Board of the Company with immediate effect.

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Coal India announces demise of director
Oct 19,2016

Coal India announced that N. Kumar who was working as Director (Tech.) of the Company died on 18 October 2016 and hence ceased to be the Director of the Company.

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BEML announces change in company secretary & compliance officer
Oct 19,2016

BEML announced that S V Ravisekhar Rao is appointed as the Company Secretary and Compliance Officer of the Company on 19 October 2016 in place of M E V Selvamm, who had since resigned from the services of the Company.

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Moodys: Carbon reduction policies bring risk, opportunities for global unregulated utilities
Oct 19,2016

Global unregulated utilities and power companies, as the largest source of carbon emissions in most developed countries, will need to contribute a large share of the emission reductions agreed under the Paris Agreement , says Moodys Investors Service in a new report published today. However, generators with the right business mix may find opportunities, while supportive policies in some markets may ease the transition for those negatively affected. Moodys report, titled Global Unregulated Utilities and Power Companies: Carbon Transition Brings Risks and Opportunities, is available on www.moodys.com. Moodys subscribers can access this report via the link provided at the end of this press release. We expect to see a continued rise in renewable energy, more distributed generation, and overall lower growth in the demand for energy as a result of efficiency improvements. Disruptive technologies, including energy storage, could also challenge the economics of power generation businesses, says Graham Taylor, a Moodys Vice President -- Senior Analyst and one of the reports authors.

These trends have already had a material impact on the credit quality of some utilities, particularly in Europe, and will pose an increasing challenge for those with material exposure to higher-cost generation, adds Mr Taylor.

However, utilities with flexible generation, competitive advantage in developing renewables, or innovative service offerings may be better positioned to weather changes in the sector.

Moodys will consider utilities ability to adapt to changing policies and market conditions in its assessment of their credit quality. As a starting point, its assessment will use a central scenario consistent with the Nationally Determined Contributions (NDCs) agreed at the United Nations Paris Conference. In addition, Moodys analysis will also qualitatively consider a wider range of potential outcomes, depending upon either a more or less rapid carbon transition.

In its central scenario, Moodys expects a drop in revenues for power generators currently earning significant profits from selling electricity at market prices, as the growth of low-cost or subsidised renewable generation weighs on wholesale prices. Plants that are more carbon-intensive compared to their local market may also be unable to recover the higher costs imposed by carbon taxes and similar measures. However, even as generators with high variable costs are able to run profitably for increasingly short periods, efficient and flexible plants may benefit by balancing renewables.

We will also incorporate regional variations in the profitability of various fuels. For example, in the US low prices will drive strong demand for natural gas over the next decade despite it being a fossil fuel. Gas is seen as a less carbon-intensive bridge to a cleaner energy future, said Swami Venkataraman, Senior Vice-President and one of the reports authors.

Moodys recognises that disruptive technologies are likely to transform the electric system over time. Broader deployment of renewables as well as smart meters and appliances, distributed generation, energy storage and smart grids will challenge companies focused on centralised energy generation.

Utilities with regulated transmission and distribution networks and other sources of highly-predictable earnings may be more resilient, although these may also become more risky over time as distributed generation shifts the burden of network costs.

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Bharti Airtel introduces special 10GB data plan for Rs 249
Oct 19,2016

Bharti Airtel has introduced a special offer of 10GB 4G/ 3G data on recharge of Rs 249 along with any new 4G mobile handset.

The offer comprises of credit of 1 GB data instantly to customers account and additional 9GB data can be claimed by the customer through MyAirtel App. The data will be valid for 28 days. Users can avail of a maximum of three recharges within 90days, on the offer.

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Ashoka Buildcon receives LoI for work on rural electrification
Oct 19,2016

Ashoka Buildcon has received Letters of Intent (LOIs) from Dakshinanchal Vidyut Vitran Nigam (DVVNL) for execution of work on Rural Electrification on Turnkey basis under DDUGJY Scheme a GOI Scheme on behalf of DVVNL/Government of Uttar Pradesh for Aligarh and Kanpur Zones.

The aggregate accepted bid value of the Projects is Rs. 178.66 Crore.

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Pudumjee Industries gets revision in credit ratings
Oct 19,2016

Pudumjee Industries announced that CRISIL has revised the credit rating for bank facilities aggregating Rs 56 crore as follows -

Long term rating - CRISIL BBB+/ Stable (Downgraded from CRISIL A- ; removed from Watch with Developing Implications)

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ONGC fixes record date for interim dividend
Oct 19,2016

Oil & Natural Gas Corpn has fixed 05 November 2016 as the Record Date for the purpose of Payment of Interim Dividend, if any.

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Suzlon Energy provides business update
Oct 19,2016

Suzlon Energy announced that the Company has signed Share Subscription and Shareholders Agreement with Unisun Energy (Unisun) and Vayudoot Solarfarms (Vayudoot) for setting-up of solar power project under Vayudoot, presently a wholly owned subsidiary of the Company and eventually sale of Vayuddot.

Further the Company informed that, the Company has also signed Share Subscription and Shareholders Agreements with Canadian Solar Energy Holding Singapore (Canadian Solar) and Amun Solarfarms (Amun) and Avighna Solarfarms (Avighna) for setting-up of solar power project under Amun and Avighna respectively, presently wholly owned subsidiaries of the Company, and eventually sale of the said Amun and Avighna.

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Goldline International Finvest fixes record date for stock split
Oct 19,2016

Goldline International Finvest has fixed 01 November 2016 as the Record Date for the purpose of Sub-Division / Stock Split of Rs. 10/- per share of the Company into the shares of Rs. 1/- each.

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CEAT launches new range of Puncture Safe tyres for two wheelers
Oct 19,2016

CEAT announced the rollout of a new breed of Puncture Safe tyres for the two wheeler market.

This new range will offer a technology to consumers that will allow tyres to resist punctures with no loss of air pressure and allow a hassle free and safe ride. This new range is currently available only in the states of Andhra Pradesh and Telangana and the Company proposes to roll out the Puncture Safe tyre range in the other markets in a phased manner.

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Elnet Technologies announces resignation of director
Oct 19,2016

Elnet Technologies announced that P Manivannan has resigned as Director of the Company with effect from 19 October 2016.

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Punjab & Sind Bank allots Basel III compliant Tier II Bonds aggregting Rs 500 cr
Oct 19,2016

Punjab & Sind Bank announced that allotment of Basel-III compliant Tier-II Bonds with coupon of 7.99% p.a. with a maturity of 10 years amounting to Rs.500 crore on Private Placement basis has been done on 19 October 2016 (i.e., Deemed Date of Allotment) as per the terms of the Disclosure Document.

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Intellect Design Arena to hold board meeting
Oct 19,2016

Intellect Design Arena 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 quarter ended September 30, 2016 (Q2).

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JHS Svendgaard Laboratories to hold board meeting
Oct 19,2016

JHS Svendgaard Laboratories will hold a meeting of the Board of Directors of the Company on 27 October 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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