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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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Ministry of Road Transport & Highways pushes ahead with its skilling programme
Oct 20,2016

The Ministry of Road Transport & Highways is steadily pushing ahead with its programme for training and skill upgradation of drivers and highway construction workers. Several circulars have been issued over the last three months, outlining the guidelines of the scheme and issuing directions to the concerned authorities and agencies in the centre and all states.

In case of drivers, the skill training / skill upgradation will be provided at the existing driver training centres run by the State Road Transport Corporations (SRTCs). In addition to this, private promoters are also being invited to set up training facilities. The Ministry of Road Transport & Highways will give a grant of Rs 1 crore to each SRTC for augmenting its training infrastructure. Similarly, the Ministry will also give a grant of Rs 1 crore to each private promoter for setting up training centres, after their project report is duly appraised and sanctioned by NSDC or a recognized financial institution.

The Ministry will also provide a stipend to each trainee, both at the government and privately run training centres, based on the daily minimum wage, to compensate for loss of income during the training period. This amount will be borne out of the Road Safety Funds of the Ministry. The cost of training will be met out of Prime Minister Kaushal Vikas Yojana of the Ministry of Skill Development both at the government and privately run training centres.

The State Road Transport Corporations have been asked to open their training centres to the general public. At present, only drivers employed by the SRTC were being trained at these centres. The Automotive Skill Development Council (ASDC) of the Ministry of Skill Development has drawn up a curricular for the training of drivers under its National Skill Qualification Framework (NSQF) . All training centres will have to conform to NSQF guidelines . The Ministry had issued directions in this regard to Transport Commissioners / Secretaries of all states and UTs and Managing Directors of all SRTCs in August. So far, 55 proposals have already been received from nine SRTCs for implementing the scheme.

For skill development of workmen in the highways construction sector the Ministry has resorted to convergence of resources. This training is proposed to be done by concessionaires / contractors at project sites, ITIs and Indian Academy of Highways Engineers. In addition to this, according to a circular issued this week, for projects with civil works of Rs 100 crore or more, the training will be taken up by the Project Head looking after the concerned project through the authorised training centres of Directorate General of Training. Preference is to be given to the institutes located near the project site. The Project Head/Executive Engineer will have to ensure that the training of workmen is as per the NSQF.

The training cost will be met from the provision of the contingency fund at a rate of 0.05% of the total estimated cost of civil work. For example, if the total civil construction cost is Rs 100 Crore, Contingencies @ 2.8% would be Rs 2.8 crore. Provision for skill development as proposed @ 0.05 % would then be Rs 0.05 Crore and the contingencies available for the main work would be Rs 2.75 crore. For this training also the Ministry will pay the trainees a stipend based on minimum wages to compensate for the loss of income during the training period. This expenditure will be met from the CRF allocation.

This weeks circular also aims to rope in private contractors/ concessionaires into the training scheme by directing that the Contract Documents/ Agreement should be amended to include the provision that the Contractor/Concessionaire will try to hire at least 10% trained workmen as per NSQF. If necessary, the requisite workmen may be got trained through recognised institutes; and also that the Contractor/Concessionaire will organize training at project site/sites for the trainees as and when required as per the training schedule finalised in consultation with the training institutes, and the Project Director/Executive Engineer. The Ministry has directed that the above provisions should be incorporated in the tender documents immediately and be made applicable to all projects with civil works of Rs. 100 Crores and above which are at tender stage or yet to be awarded. For ongoing projects, the same is to be incorporated by signing the Supplementary Agreement to the main Contract Agreement.

The scheme for training and skill upgradation of drivers and highways construction workers is a major initiative of the Ministry that aims at bridging the gap between the demand for skilled persons in the transport sector and the huge shortfall in the availability of the same. Training and skill upgradation will not only provide employment to a large number of people, but also make Indian roads safer for driving by inculcating the desired sense of responsible driving among the trained drivers.

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Yes Bank extends gains after posting stellar Q2 results
Oct 20,2016

The result was announced during market hours today, 20 October 2016.

Meanwhile, the S&P BSE Sensex was up 133.06 points or 0.48% at 28,117.43.

High volumes were witnessed on the counter. On BSE, so far 4.4 lakh shares were traded in the counter as against average daily volume of 2.72 lakh shares in the past one quarter. The stock hit high of Rs 1,323 and low of Rs 1,298.50 so far during the day. The stock had hit a record high of Rs 1,450 on 7 September 2016. The stock had hit a 52-week low of Rs 632.25 on 20 January 2016. The stock had outperformed the market over the past one month till 19 October 2016, rising 9.66% compared with 2.27% fall in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 11.98% as against Sensexs 0.71% rise.

The large-cap bank has equity capital of Rs 422.28 crore. Face value per share is Rs 10.

Yes Banks gross non-performing assets (NPAs) stood at Rs 916.68 crore as on 30 September 2016 as against Rs 844.56 crore as on 30 June 2016 and Rs 491.35 crore as on 30 September 2015. The ratio of gross NPAs to gross advances stood at 0.83% as on 30 September 2016 as against 0.79% as on 30 June 2016 and 0.61% as on 30 September 2015.

The ratio of net NPAs to net advances stood at 0.29% as on 30 September 2016 as against 0.29% as on 30 June 2016 and 0.2% as on 30 September 2015. The banks provisions and contingencies (excluding tax provisions) rose 55.54% to Rs 161.67 crore in Q2 September 2016 over Q2 September 2015.

Net interest income (NII) rose 30.5% to Rs 1446.20 crore in Q2 September 2016 over Q2 September 2015, on account of strong growth in advances and current account-saving account (CASA) deposits. Net interest margin (NIM) rose to 3.4% in Q2 September 2016 up from 3.3% in Q2 September 2015.

Yes Bank is one of the leading private sector banks in India.

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Thirumalai Chemicals scales record high after turnaround Q2 outcome
Oct 20,2016

The result was announced after market hours yesterday, 19 October 2016.

Meanwhile, the S&P BSE Sensex was up 99.80 points, or 0.36%, to 28,084.17

On BSE, so far 87,000 shares were traded in the counter, compared with an average daily volume of 65,928 shares in the past one quarter. The stock hit a high of Rs 675.85 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 638 so far during the day. The stock hit a 52-week low of Rs 129 on 1 March 2016. The stock had outperformed the market over the past 30 days till 19 October 2016, rising 11.63% compared with 1.89% decline in the Sensex. The scrip also outperformed the market in past one quarter, surging 80.79% as against Sensexs 0.99% rise.

The small-cap company has an equity capital of Rs 10.24 crore. Face value per share is Rs 10.

Thirumalai Chemicals net sales rose 10.09% to Rs 251.06 crore in Q2 September 2016 over Q2 September 2015.

Thirumalai Chemicals announced that the board of directors of the company at its meeting held yesterday, 19 October 2016 informed that the upgrading of fine chemicals and food ingredients units is nearing completion. This will add about 40% capacity by Q4 March 2017 in these divisions. The companys board of directors also approved the upgrading of its Phthalic Anhydride Plants with newer technology, to be completed by the year ending 31 March 2018 (FY 2018), Thirumalai Chemicals said. A further project to expand fine chemicals capacities by a further 40% has also been approved by the companys board of directors to be completed in FY 2018, the company said. All these projects will be funded internally, it added. The company has indicated that its wholly owned subsidiary in Malaysia, OOSB has completed its Maleic Anhydride expansion to 45,000 tons and is planning further expansions of Maleic Anhydride Unit. OOSB will also build a food ingredients and fine chemicals plant based on Thirumalai Chemicals Indias technology.

Thirumalai Chemicals started production of Phthalic Anhydride in 1976 in Ranipet, in South India. Since then, it has grown into a diverse and respected enterprise, rapidly expanding into the manufacture of many other critical Industrial Chemicals: Maleic Anhydride, Fumaric Acid and Malic Acid and various Fine Chemicals and Derivatives.

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Moodys: Enhancement to Indias PPP model could boost infrastructure investment
Oct 20,2016

Moodys Investors Service says that enhancement of Indias (Baa3 positive) public-private partnership (PPP) model could help attract more private sector investment towards infrastructure projects, and thus help address the countrys very large infrastructure needs.

Historical underinvestment and rapid economic growth are straining Indias existing infrastructure, says Abhishek Tyagi, a Moodys Vice President and Senior Analyst. While the countrys PPP model has seen reasonable success in some sectors over the last 20 years, PPP activity has been low in the last four fiscal years due to challenges with the PPP model.

As such, Indias PPP framework will benefit if it is developed further to address key issues regarding (1) improved risk allocation; (2) the ability to renegotiate unpredictable factors in the bid documents; and (3) a move away from project awards based on one metric, such as estimated revenues, says Tyagi.

The Moodys report highlights that there has been a large decline in private investment in PPP projects in recent years for a number of reasons, including delays in project approvals and land purchases by the government, complicated dispute resolution mechanisms in the concession agreements, and lower than expected revenues due to aggressive assumptions.

Delays in project completion have resulted in cost overruns and revenue losses to private concession owners. These factors have impacted the financial viability of some projects and their ability to service debt.

The poor performance of some infrastructure projects, including PPP, has been a source of stress for both developers and the Indian banking system.

The June 2016 Financial Stability Report (FSR) of the Reserve Bank of India stated that infrastructure, which accounted for 14.2% of total advances of the banking sector, accounted for 34.4% of restructured standard advances and 13.9% of gross non-performing assets of commercial banks in India.

In that regard, Moodys points out that more developed PPP markets, such as in the UK, Canada and Australia, use both availability-payment and demand risk PPP models, and relatively standardized bid documents -- features that could address some of the bottlenecks in Indias PPP framework.

In particular, Moodys says these more developed PPP markets typically feature (1) well-developed regulatory frameworks; (2) largely standardized project contracts; (3) a large and sophisticated investor base; and (4) predictable project pipelines.

Adjustments to the PPP framework in India to align it more with those of more mature PPP markets could help attract new private investment, says Moodys.

Indias economy is set to grow at the fastest pace among major economies in 2016 and 2017, although GDP growth remains constrained by various factors, including inadequate infrastructure investments.

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Yes Bank gains after reporting strong Q2 results
Oct 20,2016

The result was announced during market hours today, 20 October 2016.

Meanwhile, the S&P BSE Sensex was up 133.06 points or 0.48% at 28,117.43.

On BSE, so far 1.73 lakh shares were traded in the counter as against average daily volume of 2.72 lakh shares in the past one quarter. The stock hit high of Rs 1,320 and low of Rs 1,298.50 so far during the day. The stock had hit a record high of Rs 1,450 on 7 September 2016. The stock had hit a 52-week low of Rs 632.25 on 20 January 2016. The stock had outperformed the market over the past one month till 19 October 2016, rising 9.66% compared with 2.27% fall in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 11.98% as against Sensexs 0.71% rise.

The large-cap bank has equity capital of Rs 422.28 crore. Face value per share is Rs 10.

Yes Bank is one of the leading private sector banks in India.

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Sadbhav Infrastructure Project receives provisional completion certificate for two check posts
Oct 20,2016

Sadbhav Infrastructure Project announced that it has received the provisional completion certificate for Kelwat Check Post and Rajura Check Post with effect from 18 October 2016.

With this Maharashtra Border Check Post Network, subsidiary of the Company and a SPV incorporated for the purpose has received provisional/ final completion certificates for 18 check posts out of which 13 check posts have started generating revenue. Construction work is at an advanced stage for balance 6 check posts.

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Integrated Proteins to hold board meeting
Oct 20,2016

Integrated Proteins will hold a meeting of the Board of Directors of the Company on 5 November 2016 to consider and approve the unaudited results for the quarter ended on September 30, 2016.

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WABCO India to hold board meeting
Oct 20,2016

WABCO India will hold a meeting of the Board of Directors of the Company on 8 November 2016 to consider and approve the unaudited financial results of the Company for the quarter / half year period ended September 30, 2016.

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Archit Organosys to hold board meeting
Oct 20,2016

Archit Organosys will hold a meeting of the Board of Directors of the Company on 20 October 2016.

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IKF Technologies to hold board meeting
Oct 20,2016

IKF Technologies will hold a meeting of the Board of Directors of the Company on 27 October 2016 to consider and approve the Unaudited financial results of the Company for the quarter and half year ended September 30, 2016.

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Kreon Finnancial Services to hold board meeting
Oct 20,2016

Kreon Finnancial Services will hold a meeting of the Board of Directors of the Company on 31 October 2016 to consider and take on record the Unaudited financial results of the Company for the quarter ended September 30, 2016 along with Limited Review report.

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Tulsi Extrusions to hold board meeting
Oct 20,2016

Tulsi Extrusions will hold a meeting of the Board of Directors of the Company on 27 October 2016.

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Sadbhav Infra gains after receiving completion certificate for two check posts
Oct 20,2016

The announcement was made during market hours today, 20 October 2016.

Meanwhile, the BSE Sensex was up 123.35 points, or 0.44%, to 28,107.72.

On BSE, so far 10,703 shares were traded in the counter, compared with an average volume of 70,700 shares in the past one quarter. The stock hit a high of Rs 112.60 and a low of Rs 106.85 so far during the day. The stock hit a record high of Rs 120.40 on 22 September 2016. The stock hit a record low of Rs 66.30 on 15 February 2016. The stock had outperformed the market over the past one month till 19 October 2016, rising 2.38% compared with 2.27% fall in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 6.8% as against Sensexs 0.71% rise.

The mid-cap company has equity capital of Rs 352.23 crore. Face value per share is Rs 10.

Sadbhav Infrastructure Project said that with the receipt of these certificates, Maharashtra Border Check Post Network (MBCPNL), a subsidiary of the company and a special purpose vehicle incorporated for the project of construction, operation and maintenance and modernisation and computerization of integrated border check posts received provisional/final certificate for 18 check posts out of which 13 check posts have started generating revenue. The construction work is at an advanced stage for balance 6 check posts.

Sadbhav Infrastructure Project reported consolidated net loss of Rs 89.46 crore in Q1 June 2016 compared with net loss of Rs 88.34 crore in Q1 June 2015. Net sales fell 33.3% to Rs 361.70 crore in Q1 June 2016 over Q1 June 2015.

Sadbhav Infrastructure Project is into development, operation and maintenance of road infrastructure assets. It undertakes turnkey contractual works and other than civil construction of the projects.

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Apple Credit Corporation to hold board meeting
Oct 20,2016

Apple Credit Corporation will hold a meeting of the Board of Directors of the Company on 1 November 2016 to consider and approve the un-audited financial results of the Company for the quarter / half year ended September 30, 2016.

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Westlife Development to hold board meeting
Oct 20,2016

Westlife Development will hold a meeting of the Board of Directors of the Company on 28 October 2016 to consider, the unaudited financial results for the quarter and half year ended September 30, 2016.

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