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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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Merck announces change in directorate
Oct 05,2016

Merck announced that recently Merck has implemented certain organisation changes which impact the roles and responsibilities of two whole time directors, viz. Brijesh Kapil and Ali Sleiman. As such Brijesh Kapil and Ali Sleiman, whole time directors, have expressed their inability to continue as directors on the Board of the Company and have tendered their resignation from the office of director of the Company effective from 04 October 2016. Additionally, the Companys ultimate holding company, Merck KGaA, Germany, has changed the nomination non-executive director, Bradley Simpson, on the board of the Company and in his place has appointed Zoe Tang, Regional CFO Central Asia as member of the Board.

The management places on record its appreciation for the valuable contributions made by Kapil, Sleiman and Simpson during their tenure as members of the Board of the Company.

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Yes Bank gains after raising funds
Oct 05,2016

The announcement was made after market hours yesterday, 4 October 2016.

Meanwhile, the BSE Sensex was up 55.05 points, or 0.19%, to 28,389.60.

On BSE, so far 20,000 shares were traded in the counter, compared with average daily volume of 2.55 lakh shares in the past one quarter. The stock hit a high of Rs 1,297 and a low of Rs 1,288 so far during the day. The stock hit a record high of Rs 1,450 on 7 September 2016. The stock hit a 52-week low of Rs 632.25 on 20 January 2016. The stock had underperformed the market over the past 30 days till 4 October 2016, falling 7.50% compared with 0.69% decline in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 14.02% as against Sensexs 4.30% rise.

The large-cap private sector bank has equity capital of Rs 421.66 crore. Face value per share is Rs 10.

Yes Bank announced that it has successfully raised Rs 2135 crore through senior long term infrastructure bonds. The issue was closed on 30 September 2016 and witnessed strong demand from leading domestic investors resulting in a total subscription of the issue. The issue was subscribed 2.13 times. The bonds will be listed on BSE and were raised at a coupon rate of 8% per annum with a tenor of 10 years. The proceeds will be used to finance long term projects in infrastructure and its allied sub-sectors.

Yes Banks net profit rose 32.8% to Rs 731.80 crore on 25.4% growth in operating income to Rs 4762.83 crore in Q1 June 2016 over Q1 June 2015.

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

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HDFC inches up after reporting higher dividend income in Q2
Oct 05,2016

The announcement was made after market hours yesterday, 4 October 2016.

Meanwhile, the S&P BSE Sensex was up 93.30 points or 0.33% at 28,427.85.

On BSE, so far 220 shares were traded in the counter as against average daily volume of 1.19 lakh shares in the past two weeks. The stock hit a high of Rs 1,440 and a low of Rs 1,430.65 so far during the day. The stock had hit a record high of Rs 1,463.25 on 7 September 2016. The stock had hit a 52-week low of Rs 1,012 on 25 February 2016. The stock had outperformed the market over the past one month till 4 October 2016, sliding 0.59% compared with 0.69% fall in the Sensex. The scrip had also outperformed the market in past one quarter, advancing 14.13% as against Sensexs 3.87% rise.

The large-cap company has equity capital of Rs 316.80 crore. Face value per share is Rs 2.

HDFC said the profit on sale of investments declined 60.41% to Rs 19 crore in Q2 September 2016 over Q2 September 2015. The company, under the loan assignment route sold loans amounting to Rs 1939 crore in Q2 September 2016 to HDFC Bank. HDFC sold loans amounting to Rs 13086 crore in the preceding twelve months. The company is scheduled to announce its Q2 September 2016 results on 26 October 2016.

HDFCs consolidated net profit rose 26.9% to Rs 2796.92 crore on 18.7% growth in total income to Rs 13531.48 crore in Q1 June 2016 over Q1 June 2015.

HDFC is Indias first retail housing finance company and is currently one of the largest originators of housing loans in the country.

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Centre approves a grant of Rs. 515 Crores for the development of Sagar Port Project in West Bengal
Oct 05,2016

The Central Government has given in principle approval to a grant of Rs. 515 crores to make the development of the proposed Sagar Port project in West Bengal financially viable. This is part of the continuous efforts by the Ministry of Shipping during the last two years for the development of this port. A Special Purpose Vehicle, Bhor Sagar Port Limited (BSPL) has been incorporated for the implementation of the project, with Kolkata Port Trust holding 74% equity and the Government of West Bengal holding 26% equity. IIT, Madras has been engaged to prepare a Detailed Project Report (DPR) for the port, involving studies for shore-protection, land reclamation and physical modeling for use of dredge material. The work of preparing the DPR is underway.

Work is also underway for developing port connectivity. A road-cum-rail bridge is proposed over the river Muriganga to connect the Sagar island to the mainland. National Highways and Infrastructure Development Corporation (NHIDCL) has prepared the Detailed Project Report (DPR) for this road-cum-rail bridge. The estimated cost of the bridge is Rs.1822 crores. Further, the connectivity of this road-cum-rail bridge to the National Highways network and the railway network has also been taken up in right earnest. The Ministry of Road Transport and Highways has agreed, in- principle, to take up widening of NH-117 to a four-lane road from Kakdwip to Joka and up to the rail-cum-road bridge to the Sagar Island. The Railway Board has sanctioned a survey for determining the alignment to connect the Port with the mainland rail network.

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Tata Steel in focus after raising funds
Oct 05,2016

Tata Steel announced that the Committee of Directors yesterday, 4 October 2016, allotted 8.15%, Unsecured, Redeemable Non-Convertible Debentures aggregating to Rs 1000 crore, on a private placement basis, to certain identified investors. The announcement was made after market hours yesterday, 4 October 2016.

Yes Bank announced after market hours yesterday, 4 October 2016 that it has successfully raised Rs 2135 crore through senior long term infrastructure bonds. The issue was closed on 30 September 2016 and witnessed strong demand from leading domestic investors resulting in a total subscription of the issue. The issue was subscribed 2.13 times. The bonds will be listed on BSE and were raised at a coupon rate of 8% per annum with a tenor of 10 years. The proceeds will be used to finance long term projects in infrastructure and its allied sub-sectors.

UCO Bank announced that as a part of capital raising plan, a proposal for issue of 7.17 crore equity shares at an issue price to be determined later on preferential basis to Life Insurance Corporation of India is being considered by the banks board. The aforesaid proposal is placed before the board for approval by circulation. The announcement was made after market hours yesterday, 4 October 2016.

HDFC announced that the profit on sale of investments declined 60.41% to Rs 19 crore in Q2 September 2016 over Q2 September 2015. Income from dividend rose 7.29% to Rs 456 crore in Q2 September 2016 over Q2 September 2015. The company, under the loan assignment route sold loans amounting to Rs 1939 crore in Q2 September 2016 to HDFC Bank. HDFC sold loans amounting to Rs 13086 crore in the preceding twelve months. The company is scheduled to announce its Q2 September 2016 results on 26 October 2016. The announcement was made after market hours yesterday, 4 October 2016.

Shriram City Union Finance announced that it intends to raise funds through allotment of 1,000 secured non-convertible redeemable debentures aggregating to Rs 100 crore on private placement basis. The announcement was made after market hours yesterday, 4 October 2016.

AstraZeneca Pharma India clarified after market hours yesterday, 4 October 2016 with respect to news item titled Embassy buys 10 acre land in Bengaluru for Rs 255 crore that it has not sold any of its land held by it and that the news item does not pertain to the company.

Mahindra CIE Automotive after market hours yesterday, 4 October 2016 in its clarification with respect to news item titled Mahindra CIE amongst others interested in Amtek Autos overseas assets, has denied any such negotiations.

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Sree Sakthi Paper Mills announces resignation of CFO
Oct 04,2016

Sree Sakthi Paper Mills announced the resignation of Chief Financial Officer, CA Deepa Praveen and she has been relieved of her functions from 25 September 2016.

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Seshachal Technologies fixes record date for reduction of capital
Oct 04,2016

Seshachal Technologies has fixed 13 October 2016 as the Record Date for the purpose of Reduction of Capital.

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Hindustan Zinc announces cessation of director
Oct 04,2016

Hindustan Zinc announced that on expiry of appointed tenure, Akhilesh Joshi, ceases to be Whole Time Director of the Company, from close of 30 September 2016.

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GTL Infrastructure allots equity shares
Oct 04,2016

GTL Infrastructure announced that the Committee of the Company at its meeting held on 04 October 2016 has considered allotment of 29,838,599 equity shares consequent to conversion of 5,500 FCCBs of US$ 1,000/- each (Series A Bonds) at a conversion price of Rs. 10/- per share, in terms of the Offering Circular dated 17 October 2012 for issue of US$ 111,740,000 Zero Coupon Compulsorily Convertible Bonds due 2017 (Series A Bonds).

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Maruti Suzuki India announces production figures
Oct 04,2016

Maruti Suzuki India achieved total production of 146,434 units in September 2016 compared to 118,015 units in September 2015.

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Jagran Prakashan gets Allahabad High Court approval for scheme of amalgamation
Oct 04,2016

Jagran Prakashan announced that the Honble High Court of Judicature at Allahabad has considered and approved the amalgamation of Crystal Sound & Music (n++Crystaln++ or n++Transferor Company In++) and Spectrum Broadcast Holdings, earlier known as IVFH Holdings (n++Spectrumn++ or n++Transferor Company 2n++) with Jagran Prakashan (n++JPLn++ orn++ Amalgamated Company), and the demerger of Radio Business Undertaking of Shri Puran Multimedia (n++SPMLn++ or n++Demerged Companyn++) into Music Broadcast (n++MBLn++ or n++Resulting Companyn++). The Scheme is pending for approval from High Court of Judicature at Mumbai and other requisite approvals.

The Scheme shall be effective from the date of filing of certified / authenticated copies of Orders of the High Courts with the Registrar of Companies Uttar Pradesh and Registrar of Companies at Mumbai, as applicable.

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Hindoostan Mills announces resignation of director
Oct 04,2016

Hindoostan Mills announced that Naresh R. Kara, Non-Executive Director has resigned from the Board of the Company w.e.f. 03 October 2016.

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Batliboi completes sale of its industrial land
Oct 04,2016

Batliboi has concluded the process of sale of its industrial land situated at Plot No. 24, Veerasandra Industrial Area in Survey Nos. 32 and 33 (Pt.) of Veerasandra Village, AttibeleHobli, Anekal Taluka, Bangalore District.

The above mentioned transaction is not a related party transaction and the buyer is not related to the Promoter / Promoter group / Key Managerial Personnel.

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Electrosteel Castings announces resignation of director
Oct 04,2016

Electrosteel Castings announced that Dr. Jamshed Jiji Irani, Independent Director, has resigned from the Board of Directors of the Company with effect from 04 October 2016.

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Outcome of board meeting of Indo Amines
Oct 04,2016

Indo Amines announced that the Board of Directors of the Company at its meeting held on 04 October 2016 approved the following -

The proposal of merger of Classic Oil, wholly owned subsidiary with Indo Amines.

The acquisition of running business of Shree Sai Industries at Plot No. k-33, MIDC Tarapur, Dist. Palghar through purchase of assets.

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