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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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Cabinet approves Bilateral MoU between India and Iran
Jun 07,2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the Bilateral Memorandum of Understanding (MoU) between Securities and Exchange Board of India (SEBI) and Securities and Exchange Organization (SEO), Iran in relation to mutual cooperation on matters pertaining to securities markets.

The MoU is likely to promote further development of economic links and cooperation between the two regulators, and aims at creating conditions for an effective development of securities markets in the two countries. It would also contribute towards strengthening the information sharing framework between the two countries. It is expected to add value to overseas mutual cooperation and regulation activities of SEBI and SEO, Iran.

The MoU is expected to contribute towards strengthening the information sharing framework between SEBI and SEO, Iran.

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Australia Stocks end flat
Jun 07,2017

Australian equity market ended virtually flat after recouping intraday losses late afternoon on Wednesday, 07 June 2017, as investors pleased with better than expected economic growth data. Data from the statistics agency showed Australias gross domestic product expanded 0.3% in the three months through March from the previous quarter and rose 1.7% on year. The S&P/ASX 200 finished 0.3 points lower at 5667.20 after falling by as much as 0.4% in early trading.

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Cabinet approves agreement between India and Cyprus on Merchant Shipping
Jun 07,2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its ex-post facto approval to the Agreement between India and Cyprus on Merchant Shipping, which was signed in April 2017.

The Agreement in Merchant Shipping will pave the way for cooperation in eliminating any hindrances which may hamper the development of sea trade between the two nations. The MoU will encourage participation in the transport of goods between the countries, and also from third countries. The MoU further seeks to enhance cooperation for employment, improvement of conditions of work and for the welfare of seafarers employed on each others vessels.

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Cabinet approves MoU between India and Korea for export credit of USD 9 billion
Jun 07,2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the proposed Memorandum of Understanding (MoU) between Export-Import Bank of India (EXIM Bank) and Export-Import Bank of Korea (KEXIM) for export credit of USD 9 billion for infrastructural development in India and for the supply of goods and services as part of projects in third countries.

The MoU is proposed to be signed between the two banks during the forthcoming visit of the Finance Minister Shri Arun Jaitley, to Seoul, Korea during 14-15 June 2017 for the Annual Financial Bilateral Dialogue. The decision is expected to promote the countrys international exports, and deepen political and financial ties between India and Korea. The export credit will be utilized through lending by EXIM Bank for promoting projects for priority sectors, including smart cities, railways, power generation and transmission etc., in India and for the supply of goods and services from India and Korea as part of projects in third countries.

Implementation Strategy

Under the implementation strategy, the parties to the MoU will hold mutual consultations to structure the financial assistance, review the existing arrangements and related procedures. EXIM Bank will identify viable projects in India. For projects in third countries, both parties will jointly identify viable projects. It is understood from EXIM Bank that the USD 9 billion would be extended by KEXIM by way of Investment Credit (typically export credit facility to finance projects with a certain level of Korean import content and interest rates as per OECD export credit guidelines). This amount may also be utilized by KEXIM as the financier without the participation of EXIM Bank subject to satisfaction of the purpose.

The supply of goods and services from India and Korea as part of projects in third countries will be an additional avenue which this MoU will enable. It will help in exchanging mutual experience, sharing information on financing export and import operations, project assessment and knowledge generated in respective fields of activities.

Background

The Joint Statement issued in 2015 during the visit of the Prime Minister to the Republic of Korea stated that Korea intends to offer USD 10 billion of infrastructural development in India. The package was subsequently prepared to comprise of USD 1 billion from the South Korean Economic Development Cooperation Fund (EDCF) as government to government funding and USD 9 billion as export credit from KEXIM. The credit of USD 9 billion from KEDIM is to be through a formal MoU to be signed between KEXIM and EXIM Bank.

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TCS wins Pega 2017 Partner Excellence Award
Jun 07,2017

Tata Consultancy Services has been awarded the Pega 2017 Partner Excellence in Driving Customer Success: Advanced Practice Development Award.

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Mega Corporation shifts registered office
Jun 07,2017

Mega Corporation has shifted its registered office from 261, Ground Floor, Okhla Industrial Estate, Phase-III, New Delhi- 110020 to 108, 1st Floor, Taimoor Nagar, Opp. New Friends Colony, New Delhi-110025 with effect from 01 June 2017

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Mahindra & Mahindra provides update on step down subsidiary
Jun 07,2017

Mahindra & Mahindra announced that Mahindra Vehicle Sales and Service Inc. has become a subsidiary of Mahindra Automotive North America Inc. with effect from 6 June 2017. Mahindra Automotive North America Inc. is a step down subsidiary of the Company.

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Khoday India appoints CFO
Jun 07,2017

Khoday India has appointed R.Venkat subramanyan, Company Secretary as CFO of the Company with effect from 07 June 2017 at board meeting held on 07 June 2017.

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Venkys (India) announces resignation of director
Jun 07,2017

Venkys (India) announced that C. Jagapati Rao, Independent Director of the Company, has tendered his resignation from the post of Director due to his advancing age and the Board has accepted the same at its meeting held on 7 June 2017.

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Shilpi Cable Technologies announces resignation of director
Jun 07,2017

Shilpi Cable Technologies announced the resignation of Ghanshyam Pandey as Whole Time Director with effect from 06 June 2017.

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Thacker & Company fixes record date for bonus issue
Jun 07,2017

Thacker & Company has fixed 19 June 2017 as record date for bonus issue.

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Board of Kalyani Forge recommends final dividend
Jun 07,2017

Kalyani Forge announced that the Board of Directors of the Company at its meeting held on 23 May 2017, inter alia, have recommended the final dividend of Rs 3 per equity Share (i.e. 30%) , subject to the approval of the shareholders.

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Board of Dr Agarwals Eye Hospital recommends final dividend
Jun 07,2017

Dr Agarwals Eye Hospital announced that the Board of Directors of the Company at its meeting held on 23 May 2017, inter alia, have recommended the final dividend of Rs 1.5 per equity Share (i.e. 15%) , subject to the approval of the shareholders.

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Board of Narmada Gelatines recommends final dividend
Jun 07,2017

Narmada Gelatines announced that the Board of Directors of the Company at its meeting held on 23 May 2017, inter alia, have recommended the final dividend of Rs 4 per equity Share (i.e. 40%) , subject to the approval of the shareholders.

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Eastern Silk Industries reports standalone net profit of Rs 56.72 crore in the March 2017 quarter
Jun 07,2017

Net profit of Eastern Silk Industries reported to Rs 56.72 crore in the quarter ended March 2017 as against net loss of Rs 4.21 crore during the previous quarter ended March 2016. Sales rose 11.09% to Rs 19.23 crore in the quarter ended March 2017 as against Rs 17.31 crore during the previous quarter ended March 2016.

For the full year,net profit reported to Rs 45.06 crore in the year ended March 2017 as against net loss of Rs 21.83 crore during the previous year ended March 2016. Sales declined 5.30% to Rs 62.38 crore in the year ended March 2017 as against Rs 65.87 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales19.2317.31 11 62.3865.87 -5 OPM %-94.38-375.97 --103.41-111.92 - PBDT-18.10-58.86 69 -64.17-66.29 3 PBT-20.52-62.46 67 -74.83-80.08 7 NP56.72-4.21 LP 45.06-21.83 LP

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