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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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US stocks end higher amid strong earning reports
Oct 19,2016

U.S. stocks closed higher on Tuesday, 18 October 2016 as investors welcomed stronger-than-expected quarterly results from a roster of companies, including Goldman Sachs Group, United Health Group and Netflix Inc. A positive bias in global markets and some mixed inflation data also contributed to todays upbeat demeanor. Meanwhile, reports on inflation and home-builder confidence that were in line with forecasts underlined market expectations that the Federal Reserve is likely to raise interest rates in December.

The Dow Jones Industrial Average rose 75.54 points, or 0.4%, to close at 18,161.94, with gains capped by a selloff in IBM. The Nasdaq Composite Index added 44.01 points, or 0.9%, to close at 5,243.84, boosted by sharp gains in biotechnology stocks. The S&P 500 index finished up 13.10 points, or 0.6%, at 2,139.60, with all 11 main sectors trading higher. The health-care, materials and utilities sectors led gainers.

The third-quarter earnings reporting season picked up in earnest this morning as participants pored over reports from the likes of Netflix, UnitedHealth, Goldman Sachs, IBM and Johnson & Johnson. All five names topped bottom-line estimates for the quarter, but the results were met with mixed reactions.

European markets outperformed on the heels of an above-consensus inflation reading out of the UK. All eleven S&P 500 sectors finished in the green with health care, materials, utilities, financials and technology leading the pack.

IBM shares closed down 2.6% after the company posted a drop in profit and revenue late Monday. Meanwhile, shares of Netflix surged, closing up 19% after results blew past Wall Street expectations.

Todays economic data included the CPI Report for September and the NAHB Housing Market Index for October. The all items index was up 0.3% in September, which was in-line with expectations, while the all items index, excluding food and energy, was up 0.1% (consensus +0.2%).

Separately, the NAHB Housing Market Index for October came in at 63 (consensus 59.0) from an unrevised 65 in September.

Precious metals ended substantially higher at Comex on Tuesday, 18 October 2016. Gold futures on Tuesday book its highest settlement level in nearly two weeks, as strength in the British pound helped the U.S. dollar ease back from recent multimonth highs. Signs of a pickup in inflation, which tends to be supportive for gold, also gave the metal a lift.

December gold rose $6.30, or 0.5%, to settle at $1,262.90 an ounce. December silver put up the bigger move, adding 16.5 cents, or 0.9%, to $17.638.

Gold gained as the dollar pulled back from recent highs. The ICE U.S. Dollar Index which measures the buck against a basket of six currencies, traded nearly flat as of golds settlement, after touching seven-month highs on Monday. A stronger greenback can put pressure on dollar-denominated gold and vice versa.

Crude oil futures settled higher on Tuesday, 18 October 2016 at Nymex with prices in New York reclaiming the $50-a-barrel level after posting losses over the past two trading sessions. The Organization of the Petroleum Exporting Countries Secretary-General Mohammad Barkindo voiced the groups commitment on Tuesday to limit crude production, but concerns that a recent rise in oil prices, which logged gains for the last four weeks in a row, will spur more U.S. shale production kept a lid on oils price gains.

November West Texas Intermediate crude added 35 cents, or 0.7%, to settle at $50.29 a barrel on the New York Mercantile Exchange, rebounding an intraday low of $49.76. December Brent crude on Londons ICE Futures exchange rose 16 cents, or 0.3%, to $51.68 a barrel.

Treasuries finished on a higher note as yields pulled back across the curve. The yield on the 2-yr note declined one basis point to 0.81% while the yield on the benchmark 10-yr note settled lower by two basis points (1.74%).

Todays trading volume fell below the average of 858 million as 742 million shares changed hands at the NYSE floor.

Tomorrows economic data will include the 7:00 ET release of the the weekly MBA Mortgage Index. Separably, Housing Starts (consensus 1168k) and Building Permits (consensus 1164k) for September will each cross the wires at 8:30 ET. The days data will be capped off with the release of the Feds Beige Book for October at 14:00 ET.

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Mandatory Standards for products and services in health, food sector on anvil
Oct 19,2016

The Government has taken number of initiatives for the protection of the interests of consumers. Very soon services and products in the area of health, food etc. shall have to follow mandatory quality standards. Precious metal like Gold and silvers shall have to wear hallmarking for the larger interests of consumers. New Bureau of Indian Standards Act has been enacted for this purpose and rules are being framed. This was announced by Shri Ram Vilas Paswan, Minister of Consumer Affair, Food & Public Distribution while addressing Regional Editors Conference in Chandigarh today. Sh. Ram Vilas Paswan said his ministry is also working on new Consumer Protection Act which will have more teeth to protect the interests of consumers. An authority has been proposed under the Act to take suo motto action if product and services are not up to the standard. The Minister said charging over MRP is unfair trade practice and expressed hope that the new Consumer Protection Act will effectively check that.

Regarding misleading advertisements, Sh. Ram Vilas Paswan said effective provisions have been proposed in the new Consumer Protection Act. The Act will enable people to file complains in Consumers Courts online from any place in the country and it will ensure time bound admission of their complaints in the courts.

Highlighting reforms initiated in Public Distribution System, Sh. Ram Vilas Paswan said that so far 100 percent digitization of ration card has been completed and about 70 percent cards have been linked with Aadhar Cards to make the system more transparent and leak proof. The Union Minister said that at present more than 81 crore people are getting subsidized food grains i.e .Rs. 2/kg wheat and 3/kg rice under National Food Security Act and very soon beneficiaries from across the nation except Tamil Nadu will get food grains as Kerala has also agreed to implement the Act next month.

Referring efforts being made by Government to check prices of essential commodities, especially pulses, Sh. Ram Vilas Paswan said that incentives given to farmers will increase the availability of the produce soon. He said that besides increasing MSP for the pulses, the Government agencies are making direct procurement of pulses from the farmers at market price for the buffer stocks of 20 lakh MT. The states are being provided pulses at subsidies rates from this stock, said the Minister.

Sh. Ram Vilas Paswan asserted that consumer awareness is of paramount importance for safeguarding their interests, and appealed media to play an active role in this regard.

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Hatsun Agro Product gains after declaring Q2 result
Oct 19,2016

The announcement was made after market hours yesterday, 18 October 2016.

Meanwhile, the BSE Sensex was down 18.91 points, or 0.07%, to 28,031.97

On BSE, so far 600 shares were traded in the counter, compared with average daily volume of 2,817 shares in the past one quarter. The stock hit a high of Rs 357.50 and a low of Rs 356.05 so far during the day. The stock hit a record high of Rs 406.40 on 13 July 2016. The stock hit a 52-week low of Rs 279.29 on 19 February 2016.

The mid-cap company has an equity capital of Rs 15.22 crore. Face value per share is Re 1.

Hatsun Agro Product said that the company is planning to invest about Rs 850 crore during the year ending 31 March 2017 (FY 2017) and FY 2018 in capacity including commissioning of two new milk processing facilities and enhancing existing facilities in plant and machinery, procurement, marketing and other related supporting areas in order to cope up with the increased volume of production and sales.

Hatsun Agro Product is Indias largest private sector dairy.

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GCCL Construction & Realities to hold board meeting
Oct 19,2016

GCCL Construction & Realities will hold a meeting of the Board of Directors of the Company on 27 October 2016 to approve the Unaudited Financial Results for the 2nd Quarter ended on September 30, 2016.

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Majesco to hold board meeting
Oct 19,2016

Majesco will hold a meeting of the Board of Directors of the Company on 1 November 2016 to consider and take on record the unaudited financial results for the quarter and six months ended on September 30, 2016.

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Atishay to hold board meeting
Oct 19,2016

Atishay will hold a meeting of the Board of Directors of the Company on 24 October 2016.

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Rishabh Digha Steel& Allied Products to hold board meeting
Oct 19,2016

Rishabh Digha Steel& Allied Products will hold a meeting of the Board of Directors of the Company on 28 October 2016 to Consider and approve Unaudited Financial Result for the Quarter Ended September 30, 2016.

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Kanani Industries to hold board meeting
Oct 19,2016

Kanani Industries will hold a meeting of the Board of Directors of the Company on 26 October 2016 to consider and approve the Unaudited (Provisional) Financial Results for the quarter ended September 30, 2016 along with the Limited Review Report as submitted by the Statutory Auditors of the Company.

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Neil Industries to hold board meeting
Oct 19,2016

Neil Industries will hold a meeting of the Board of Directors of the Company on 28 October 2016 to Consider and approve the unaudited financial results of the company for the quarter/half year ended September 30, 2016.

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Ludlow Jute & Specialities to hold board meeting
Oct 19,2016

Ludlow Jute & Specialities will hold a meeting of the Board of Directors of the Company on 7 November 2016 to consider and take on record the Unaudited Financial Results of the Company for the quarter and half year ended September 30, 2016.

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Shricon Industries announces resignation of company secretary
Oct 19,2016

Shricon Industries announced that Renu Jain, Company Secretary has tendered her resignation from the post of Company Secretary due to personal reason.

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Escorts gets ratings for bank facilities and commercial paper
Oct 19,2016

Escorts announced that ICRA has reaffirmed and assigned the Long term rating to A1- and Short term rating to A1 in respect of Bank facilities for Rs. 1421.00 crore & Rs. 50 crore for Commercial Papers of the Company.

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L&T Technology Services secures multi-million dollar contract
Oct 19,2016

L&T Technology Services announced that it has secured a new multiyear,multi-million dollar contract with a large global semi-conductor company to provide verification support on their expansive portfolio of offerings and products. This strategic tie-up between the two companies will enable the customer to strengthen its product offering and capitalize on market opportunities with superior quality products.

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Sterling Tools scales record high as board to consider stock-split proposal
Oct 19,2016

The announcement was made after market hours yesterday, 18 October 2016.

Meanwhile, the BSE Sensex was down 11.60 points, or 0.04% to 28,039.28

On BSE, so far 581 shares were traded in the counter as against an average daily volume of 2,586 shares in the past one quarter. The stock hit a high of Rs 925.30 so far during the day, which is a record high for the counter. The stock hit a low of Rs 902 so far during the day. The stock had hit a 52-week low of Rs 340 on 21 October 2015.

The small-cap companys equity capital is Rs 6.84 crore. Face value per share is Rs 10.

Sterling Tools net profit rose 54.62% to Rs 9.37 crore on 13.23% rise in total income to Rs 95.50 crore in Q2 September 2016 over Q2 September 2015.

Sterling Tools is engaged in the manufacturing and marketing of high tensile cold forged fasteners. Over the years, it has become one of the leading OEM suppliers in India with a client base that spans leading automotive companies in India, Europe and USA.

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Multi Commodity Exchange of India announces change in directorate
Oct 19,2016

Multi Commodity Exchange of India has nominated Prithvi Haldea as Public Interest Director on the Board of Company for a period of 3 years with effect from the date of his joining in the vacancy arising out of the completion of tenure of Anantharaman and that Arun Bhargava has been nominated as Public Interest Director on the Board of the company for a period of 3 years with effect from 19 November, 2016 in the vacancy that will arise on completion of tenure of Satyananda Mishra.

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