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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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Gartner Says India Smartphone Business has Growth Potential, but Market Conditions are More Competitive
Apr 26,2017

Current Scenario: As the Indian cellular market goes through consolidation and aggressive 4G roll out, demand for smartphones will continue to grow. With smartphone penetration maturing in many developed markets (see Table 1), continued growth in the worlds third largest smartphone market makes India an attractive market to device manufacturers. Smartphones in India are expected to account for 62 percent of all mobile phones sales in India in 2018. 

Analyst Take: With the slowdown in sales in major markets, including the U.S., China and mature Western Europe, India represents the largest opportunity because it is the second-largest mobile phone market after China, said Anshul Gupta, research director at Gartner.

In addition, demonetization in India through the elimination of 500 and 1,000 rupee notes caused an increased push from the government for digital currency, as well as people becoming more open to using digital payment methods. The rise of digital currency is bringing a new use case for smartphones, which, in turn, is set to trigger higher demands for smartphones. This opens the opportunity for service providers to launch mobile wallet solution or even vendors to launch their exclusive mobile payment solutions like Android Pay or Apple Pay to build an ecosystem.

Table 1. Smartphone Unit Sales as a Percent of Overall Mobile Sales in Selected Markets, 4Q16

CountrySmartphone Penetration of Overall Mobile Phone Sales (%)China96India50US96Indonesia68Brazil92

Source: Gartner (March 2017)

Leading global vendors, Samsung and Apple, have made exclusive plans to grow their shares in the market. Major Chinese manufacturers, such as Gionee, Huawei, Oppo, BBK (Vivo), Xiaomi, Lenovo etc., have committed big investments to exploit the growth opportunity.

Ever rising competition from Chinese manufacturers has not only troubled top local brands such as Micromax, Intex, Lava and Karbon mobile but also resulted in a decrease in smartphone market share for Samsung in India (see Table 2).

With an exclusive focus on the market from the device manufacturers, we expect more customized smartphones to come to market and remain key to win in this highly competitive market, said Mr. Gupta.

Table 2: Top smartphone vendor share by unit sales to end users in India

Smartphone Vendor201420152016Samsung24.4%21.2%17.3%Micromax18.3%16.7%11.9%Lenovo1.6%7.3%8.1%Intex Technologies2.9%10.1%6.9%Karbonn Mobiles11.6%3.4%5.2%

Source: Gartner (March 2017)

As opposed to earlier falling mobile phone average selling price (ASP) trends led by the rush to low cost mobile phone, Gartner has noted a change in consumer spending. Our recently concluded consumer survey showed, users are willing to spend more to get a smartphone with better features than simply rushing for lowest price smartphones.

The growing ASP trend will be maintained in the coming years with the increasing middle class population and rising per capita income leading to more disposable income to be spent on electronic goods, Mr. Gupta said.

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Zee Learn advances after strong Q4 earnings
Apr 26,2017

The result was announced after market hours yesterday, 25 April 2017.

Meanwhile, the S&P BSE Sensex was up 198.18 points or 0.66% at 30,141.42.

On the BSE, 3.57 lakh shares were traded on the counter so far as against the average daily volumes of 1.45 lakh shares in the past one quarter. The stock had hit a high of Rs 49.90 and a low of Rs 47.40 so far during the day.

The stock had hit a 52-week high of Rs 51.35 on 24 March 2017 and a 52-week low of Rs 26.50 on 24 June 2016. It had underperformed the market over the past one month till 25 April 2017, sliding 5.73% compared with the Sensexs 1.77% rise. The scrip had also underperformed the market over the past one quarter, gaining 2.18% as against the Sensexs 8.07% rise.

The small-cap company has equity capital of Rs 32.29 crore. Face value per share is Rs 1.

A part of Essel Group, Zee Learn is one of the leading companies in the education sector.

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Board of LIC Housing Finance recommends final dividend
Apr 26,2017

LIC Housing Finance announced that the Board of Directors of the Company at its meeting held on 25 April 2017, inter alia, have recommended the final dividend of Rs 6.2 per equity Share (i.e. 310%) , subject to the approval of the shareholders.

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Manappuram Finance to hold board meeting
Apr 26,2017

Manappuram Finance will hold a meeting of the Board of Directors of the Company on 25 May 2017.

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Can Fin Homes to hold AGM
Apr 26,2017

Can Fin Homes announced that the 30th Annual General Meeting (AGM) of the company will be held on 28 June 2017.

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Board of Can Fin Homes recommends final dividend
Apr 26,2017

Can Fin Homes announced that the Board of Directors of the Company at its meeting held on 25 April 2017, inter alia, have recommended the final dividend of Rs 10 per equity Share (i.e. 100%) , subject to the approval of the shareholders.

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Board of Persistent Systems recommends final dividend
Apr 26,2017

Persistent Systems announced that the Board of Directors of the Company at its meeting held on 24 April 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 Nucleus Software Exports recommends final dividend
Apr 26,2017

Nucleus Software Exports announced that the Board of Directors of the Company at its meeting held on 25 April 2017, inter alia, have recommended the final dividend of Rs 5 per equity Share (i.e. 50%) , subject to the approval of the shareholders.

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Kolte-Patil strengthens after signing redevelopment project
Apr 26,2017

The announcement was made during market hours today, 26 April 2017.

Meanwhile, the S&P BSE Sensex was up 172.53 points, or 0.58%, to 30,118.01. The S&P BSE Small-Cap index was up 62.66 points, or 0.41%, to 15,442.55.

On BSE, so far 21,551 shares were traded in the counter, compared with an average volume of 1.33 lakh shares in the past one quarter. The stock had hit a high of Rs 197.70 and a low of Rs 186.20 so far during the day.

The stock had hit a 52-week high of Rs 198.85 on 30 March 2017. The stock had hit a 52-week low of Rs 78.75 on 27 December 2016.

It had outperformed the market over the past one month till 25 April 2017, surging 17.87% compared with the Sensexs 1.77% rise. The scrip had also outperformed the market over the past one quarter, jumping 98.28% as against the Sensexs 8.07% rise.

The small-cap firm has an equity capital of Rs 75.77 crore. Face value per share is Rs 10.

Kolte-Patil Developers has strengthened its Mumbai presence by signing its largest private society redevelopment project till date, Dahisar 5hree Avadhoot Co-operative Housing Society, having a plot area of 15,035 square meters.

Kolte-Patils economic interest in this project is 4 lakh square feet. Payments of the corpus fund, rental and other project expenses are linked to the approvals and project timelines.

The project has a strategic location in Dahisar East being well-connected to the Western Express Highway. Further adding to the attractiveness of the location is its close proximity to the under construction Metro VII project from Andheri East to Dahisar East, which has been recently extended to the Mumbai airport in the south and Mira-Bhayander in the North,

Commenting on this key development, Gopal Sarda, CEO, Kolte-Patil Developers said that focus in Mumbai is on generating strong return on capital employed (ROCE) and reducing working capital cycle. The company has a diversified portfolio at strategic locations, and all projects are of an optimal size enabling quick turnover.

The Mumbai foray will facilitate profit expansion and reduce working capital cycle while providing synergies to the existing Pune operations, he added.

Kolte-Patil Developers consolidated net profit rose 30.4% to Rs 18.09 crore on 27% rise in net sales to Rs 225.99 crore in Q3 December 2016 over Q3 December 2015.

Kolte-Patil Developers is Punes largest developer. It is also present in Mumbai with some upscale redevelopment projects. The company has till date built projects in multiple segments such as residential, commercial, retail, IT parks, and integrated townships.

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Agriculture: Doubling Farmers Incomes by 2022-NITI Aayog
Apr 26,2017

In May 2016, the Prime Ministers Office advised the NITI Aayog, its premier, independent think tank, to prepare a Fifteen Year Vision, Seven Year Strategy and Three Year Action Agenda. The Fifteen Year Vision and Seven Year Strategy document spanning 2017-18 to 2031-32 is in progress. The Action Agenda covers the period from 2017-18 to 2019-20, the last years of the Fourteenth Finance Commission.

How does the Vision, Strategy and Action Agenda exercise differ from the Five Year Plan process?

The 12th Five Year Plan was the last of the Five Year Plans. With an increasingly open and liberalized economy and given the new realities of the global economy, we needed to rethink the tools and approaches to conceptualizing the development process. The Vision, Strategy and Action Agenda framework will allow us to better align the development strategy with the changed reality of India.

An Overview of the Three Year Action Agenda

In preparing the Agenda, the NITI Aayog sought and received inputs from State Governments, Union Territories and Ministries of the Central Government. Extensive consultations were held with groups of scientists, economists, journalists, voluntary organizations, industry associations and experts in education, health, culture, transport and other fields. Numerous experts and institutions provided useful written inputs.

The Draft Agenda was circulated to NITI Aayogs Governing Council Members on April 23, 2016. It contains ambitious yet achievable proposals to achieve far-reaching changes in Indias economy. Where relevant, we have included possible actions by the states to complement the Centres efforts. The document has 7 parts with 24 chapters.

Selected Key Action Agenda Items

Three Year Revenue and Expenditure Framework:

n++ A tentative medium-term expenditure framework (MTEF) for the Centre is proposed. Based on forecasts of revenue, it proposes sector-wise expenditure allocation for three years.

n++ Proposes reduction of the fiscal deficit to 3% of the GDP by 2018-19, and the revenue deficit to 0.9% of the GDP by 2019-20.

n++ The roadmap consisting of shifting additional revenues towards high priority sectors: health, education, agriculture, rural development, defence, railways, roads and other categories of capital expenditure.

Agriculture: Doubling Farmers Incomes by 2022

n++ Reform the Agricultural Produce Marketing to ensure that farmers receive remunerative prices.

n++ Raise productivity through enhanced irrigation, faster seed replacement and precision agriculture.

n++ Shift to high value commodities: horticulture, animal husbandry, fisheries.

n++ A separate detailed roadmap issued by Member, Professor Ramesh Chand

Industry and Services: Job Creation n++ Overarching Action Points

n++ Create Coastal Employment Zones to boost exports and generate high-productivity jobs.

n++ Enhance labour-market flexibility through reforming key laws

n++ Address the high and rising share of Non-Performing Assets (NPAs) in Indias banks through supporting the auction of larger assets to private asset reconstruction companies (ARCs), and strengthening the State Bank of India-led ARC.

n++ Action points for specific sectors

n++ Apparel

n++ Leather and footwear

n++ Electronics

n++ Food processing

n++ Gems and jewelry

n++ Tourism

n++ Finance

n++ Real estate.

Urban Development

n++ Need to bring down land prices to make housing affordable through increased supply of urban land

1. More flexible conversion rules from one use to another

2. Release of land held by sick units

3. Release of other urban land potentially available

4. More generous Floor Space Index.

n++ Reform the Rent Control Act along the lines of Model Tenancy Act;

n++ Initiate titles of urban property

n++ Promote dormitory housing

n++ Address issues related to city transportation infrastructure and waste management.

Regional strategies

n++ Actions targeted aimed at improving development outcomes in the (i) North Eastern Region, (ii) Coastal Areas & Islands, (iii) North Himalayan states and (iv) Desert and Drought prone states.

Transport and Digital Connectivity

n++ Strengthen infrastructure in roadways, railways, shipping & ports, inland waterways and civil aviation.

n++ Ensure last-mile digital connectivity, particularly for e-governance and financial inclusion, through developing infrastructure, simplifying the payments structure and improving literacy.

n++ Facilitate Public-Private Partnerships.by reorienting the role of the India Infrastructure Finance Company Ltd. (IIFCL), introducing low cost debt instruments and operationalizing the National Investment Infrastructure Fund (NIIF).

Energy

n++ Adopt consumer friendly measures such as provision of electricity to all households by 2022, LPG connection to all BPL households, elimination of black carbon by 2022, and extension of the city gas distribution programme to 100 smart cities.

n++ Reduce the cross-subsidy in the power sector to ensure competitive supply of electricity to industry.

n++ Reform the coal sector by setting up a regulator, encouraging commercial mining and improving labour productivity.

Science & Technology

n++ Create comprehensive database of all government schemes and evaluate them for desirable changes

n++ Develop guidelines for PPPs in S&T to improve education and industry-academia linkages for demand-driven research

n++ Channel S&T to address development challenges such as access to education, improving agricultural productivity and wastewater management.

n++ Create a n++National Science, Technology & Innovation Foundationn++ to identify and deliberate national issues, recommend priority interventions in S&T and prepare frameworks for their implementation

n++ Streamline the administration of the patent regime

Governance

n++ Re-calibrate the role of the government by shrinking its involvement in activities that do not serve a public purpose and expanding its role in areas that necessarily require public provision

n++ Implement the roadmap on closing select loss-making PSEs and strategic disinvestment of 20 identified CPSEs.

n++ Expand the governments role in public health and quality education.

n++ Strengthen the civil services through better human resource management, e-governance, addressing anomalies in tenures of secretaries and increasing specialization and lateral entry.

Taxation and Regulation

n++ Tackle tax evasion, expand the tax base and simplify the tax system through reforms. For example, consolidate existing custom duty rates to a unified rate.

n++ Create an institutional mechanism for promoting competition through comprehensive review and reform of government regulations across all sectors.

n++ Strengthen public procurement

The Rule of Law

n++ Undertake significant judicial system reforms including increased ICT use, structured performance evaluation and reduced judicial workload.

n++ Legislative, administrative and operational reforms of police are suggested to the states.

Education and Skill Development

n++ Shift the emphasis on the quality of school education paying particular attention to foundational learning

n++ Move away from input-based to outcome-based assessments

n++ Rank outcomes across jurisdictions

n++ Use ICT judiciously to align teaching to the students level and pace

n++ Revisit the policy of automatic promotion up to eighth grade

n++

Praj Industries allots 59,160 equity shares
Apr 26,2017

Praj Industries has allotted 59,160 equity shares under ESOP on 26 April 2017. Consequently, the total issued share capital has increased to 179,503,348 equity shares of Rs 2 each to Rs 35.90 crore.

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Tata Communications announces appointment of Chairperson
Apr 26,2017

Tata Communications announced the appointment of Renuka Ramnath as the new Chairperson of the Board of Directors and the successor to Subodh Bhargava.

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ICICI Prudential drops from record high
Apr 26,2017

Meanwhile, the S&P BSE Sensex was up 141.86 points or 0.47% at 30,085.10.

On the BSE, 82,000 shares were traded on the counter so far as against the average daily volumes of 1.56 lakh shares in the past one quarter. The stock had hit a high of Rs 423.35 so far during the day, which is a record high. The stock hit a low of Rs 409.05 so far during the day.

The stock had hit a record low of Rs 273.65 on 9 November 2016. It had outperformed the market over the past one month till 25 April 2017, surging 12.04% compared with the Sensexs 1.77% rise. The scrip had also outperformed the market over the past one quarter, gaining 18.38% as against the Sensexs 8.07% rise.

The large-cap company has equity capital of Rs 1435.35 crore. Face value per share is Rs 10.

On consolidated basis, ICICI Prudential Life Insurance Companys net profit rose 1.31% to Rs 408.24 crore on 122.31% growth in total income to Rs 14117.14 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 25 April 2017.

ICICI Prudential Life Insurance Companys board recommended a final dividend of Rs 3.50 per share for the year ended March 2017.

ICICI Prudential Life Insurance Company is the largest private sector life insurer in India. ICICI Prudential is a joint venture between ICICI Bank and Prudential Corporation Holdings, a part of the Prudential Group, an international financial services group. The company is one of the first private sector life insurance companies in India. It commenced operations in October 2000 and offers a range of life insurance, health insurance and pension products and services.

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Kolte-Patil Developers signs its largest private society redevelopment project
Apr 26,2017

Kolte Patil Developers has strengthened its Mumbai presence by signing its largest private society redevelopment project till date, Dahisar Shree Avadhoot Co-operative Housing Society, having a plot area of 15,035 square meters. Kolte Patils economic interest in this project is 4 lakh square feet.

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Nucleus Software vaults after posting strong Q4 results
Apr 26,2017

The result was announced after market hours yesterday, 25 April 2017.

The stock has jumped 19.9% in five sessions to its ruling price of Rs 312.05, from a close of Rs 260.25 on 19 April 2017.

Meanwhile, the S&P BSE Sensex was up 153.79 points, or 0.51% to 30,097.03. The S&P BSE Small-Cap index was up 72.15 points, or 0.47% to 15,452.04.

Huge volumes were witnessed on the counter. On the BSE, 2.24 lakh shares were traded in the counter so far, compared with average daily volumes of 18,278 shares in the past one quarter. The stock had hit a high of Rs 329.50 in intraday trade, which is also a 52-week high for the stock. The stock had hit a low of Rs 310 so far during the day. The stock had hit a 52-week low of Rs 171 on 29 September 2016.

The stock had outperformed the market over the past one month till 25 April 2017, gaining 12.19% compared with the Sensexs 1.77% rise. The scrip had, however, underperformed the market in past one quarter, gaining 2.9% as against Sensexs 8.07% rise.

The small-cap company has equity capital of Rs 32.38 crore. Face value per share is Rs 10.

Nucleus Softwares board of directors recommended a final dividend of Rs 5 per share for the year ended 31 March 2017.

The board of directors of the company at a meeting held on 25 April 2017, approved a buyback of upto an aggregate amount not exceeding Rs 117.79 crore, representing 25% of the paid up share capital and free reserves as on 31 March 2017 at a price not exceeding Rs 350 per equity share.

At the maximum offer price and for the maximum offer size, the indicative maximum number of equity shares that can be bought back would be 33.65 lakh equity shares representing 10.39% of the total paid up equity share capital of the company.

The buyback price of Rs 350 was at a premium of 23.23% to a closing price of Rs 284 hit yesterday, 25 April 2017.

Nucleus Software is the leading provider of lending and transaction banking products to the global financial services industry, supporting retail banking, corporate banking, cash management, internet banking, automotive finance and other business areas.

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