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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 Forecasts Worldwide Device Shipments to Decline for Second Year in a Row
Oct 07,2016

Gartner, Inc. said worldwide combined shipments for devices (PCs, tablets, ultramobiles and mobile phones) are expected to decline 3 percent in 2016 (See Table 1). This will mark the second consecutive year of decline. The global devices market fell by 0.75 percent in 2015.

The global devices market is not on pace to return to single-digit growth soon, said Ranjit Atwal, research director at Gartner. Growth is on pace to remain flat during the next five years. All segments are expected to decline in 2016, except for premium ultramobiles and utility mobile phones (entry level phones), which are expected to show single-digit growth this year.

We expect premium ultramobiles will start benefiting from the collective performance and integration of the latest Intel CPU platform and Windows 10, added Mr. Atwal.

Table 1. Worldwide Devices Shipments by Device Type, 2015-2018 (Millions of Units)

Device Type2015201620172018Traditional PCs (Desk-Based and Notebook)244216205199Ultramobiles (Premium)44496175PC Market288265266274Ultramobiles (Basic and Utility)196177173173Computing Devices Market484442439447Mobile Phones1,9171,8871,9101,933Total Devices Market2,4012,3292,3492,380

Note: The Ultramobile (Premium) category includes devices such as Microsofts Windows 10 Intel x86 products and Apples MacBook Air.

The Ultramobile (Basic and Utility Tablets) category includes devices such as, iPad, iPad mini, Samsung Galaxy Tab S2, Amazon Fire HD, Lenovo Yoga Tab 3, Acer Iconia One

Source: Gartner (October 2016)

PC Market to Bottom Out in 2016 and PC Prices in the UK to Increase Less Than 10 Percent in 2017

The PC market is expected to exhibit an 8 per cent decline in 2016, as the installed base bottoms out and replacement cycle extensions halt. The effect of currency depreciation on the market is diminishing, added Mr. Atwal. The second quarter of 2016 was the first since the second quarter of 2015 least impacted by currency depreciation. Regions such as Western Europe, where the Euro depreciated significantly in 2015 and PC prices increased, finally showed flat market growth (-0.9 percent) in the second quarter of 2016. This follows four consecutive quarters of decline.

If this situation prevails it means that PC sales will bottom out in 2016. However, the PC market in Western Europe remains difficult following the Brexit vote. Device vendors are mitigating the currency depreciation of the pound in two ways n++ first, they are taking advantage of the likelihood of a single-digit decline in PC component costs in 2016, said Mr. Atwal. Second, they will de-feature their PCs to keep prices down. With these changes, Gartner expects PC prices in the UK to increase by less than 10 percent in 2017.

For the PC market to stay on pace for flat growth in 2017, business spending needs to flourish. The inventory of Windows 8 PCs should have been cleared, and large businesses in mature markets are now looking to move to Windows 10 through 2018, added Mr. Atwal. In addition, more affordable hardware and increasingly available virtual reality content (such as games, stories and other entertainment) will enable consumer PC buyers to upgrade in order to experience immersive offerings.

Smartphone Growth to Continue Slowing Down in 2016

Total mobile phone shipments are on pace to decline 1.6 percent in 2016. The smartphone segment continues to grow, albeit more slowly than in previous years, and is expected to reach 1.5 billion units in 2016. This is no surprise; the smartphone market is maturing, and reaching global saturation with phones that are increasingly capable and remain good enough for longer, said Roberta Cozza, research director at Gartner.

In 2016, the Android market will continue to be bolstered by Chinese vendors offering more affordable premium devices. Despite the availability of the iPhone 7, Gartner expects a weaker year-over-year volume performance from Apple in 2016, as volumes stabilize after a very strong 2015. As a result, Gartner expects total smartphone market to only increase 4.5 percent with premium smartphones declining 1.1 percent in 2016.

We expect the market for premium smartphones to return to 3.5 per cent growth in 2017, as stronger replacement cycles kick in and in anticipation of a new iPhone next year, which is expected to offer a new design and new features that are attractive enough to convince more replacement buyers, said Ms. Cozza.

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Indian Oil Corporation declines on profit booking
Oct 07,2016

Meanwhile, the BSE Sensex was down 45.07 points, or 0.16%, to 28,061.14.

On BSE, 3.43 lakh shares were traded in the counter, compared with average daily volume of 3.06 lakh shares in the past one quarter. The stock hit a high of Rs 667.20 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 637.20 so far during the day. The stock hit a 52-week low of Rs 345.05 on 12 February 2016. The stock had outperformed the market over the past 30 days till 6 October 2016, rising 14.64% compared with 2.84% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 38.71% as against Sensexs 3.61% rise.

The large-cap company has equity capital of Rs 2,427.95 crore. Face value per share is Rs 10.

Shares of Indian Oil Corporation (IOCL) rose 13.46% in five trading sessions to settle at Rs 649.45 yesterday, 6 October 2016, from its close of Rs 572.40 on 29 September 2016.

Shares of IOCL jumped 5.44% to Rs 649.45 yesterday, 6 October 2016, after the company fixed 19 October 2016 as the record date for 1:1 bonus issue. The announcement was made after market hours on Wednesday, 5 October 2016.

Meanwhile, an Indian consortium led by Oil India including Indian Oil Corporation (IOCL) and Bharat PetroResources (BPRL), a 100% subsidiary of BPCL, have successfully completed two landmark acquisitions of producing upstream assets in Russia. The consortium acquired 29.9% stake in LLC Taas-Yuryakh Neftegazodobycha (Taas Yuryakh) and 23.9% stake in JSC Vankorneft (Vankorneft) from Rosneft Oil Company, the national oil company of Russia. The announcement was made after market hours on Wednesday, 5 October 2016.

Indian Oil Corporation (IOCL)s net profit rose 25.5% to Rs 8268.98 crore on 15.3% fall in net sales to Rs 85655.31 crore in Q1 June 2016 over Q1 June 2015.

IOCL is Indias flagship national oil company, with business interests that straddle the entire hydrocarbon value chain - from refining, pipeline transportation and marketing of petroleum products to exploration & production of crude oil & gas as well as marketing of natural gas and petrochemicals. The Government of India held 58.28% stake in IOCL (as per the shareholding pattern as on 30 June 2016).

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Tata Steel gains after good sales in Q2
Oct 07,2016

The announcement was made after market hours yesterday, 6 October 2016.

Meanwhile, the S&P BSE Sensex was down 67.10 points or 0.24% at 28,039.11.

On BSE, so far 16.38 lakh shares were traded in the counter as against average daily volume of 10.05 lakh shares in the past one quarter. The stock hit a high of Rs 407.60 and a low of Rs 390 so far during the day. The stock had hit a 52-week high of Rs 408.50 on 8 September 2016. The stock had hit a 52-week low of Rs 211.30 on 12 February 2016. The stock had outperformed the market over the past one month till 6 October 2016, gaining 0.89% compared with 3.01% fall in the Sensex. The scrip had also outperformed the market in past one quarter, advancing 16.52% as against Sensexs 3.46% rise.

The large-cap company has equity capital of Rs 971.22 crore. Face value per share is Rs 10.

Tata Steel announced that its hot metal production rose 17% to 3.12 million tonnes in Q2 September 2016 over Q2 September 2015. Crude steel production rose 13% to 2.82 million tonnes in Q2 September 2016 over Q2 September 2015. Saleable steel production increased by 11% to 2.71 million tonnes in Q2 September 2016 over Q2 September 2015.

On a consolidated basis, Tata Steel reported net loss of Rs 3183.07 crore in Q1 June 2016 as against net loss of Rs 316.91 crore in Q1 June 2015. Net sales declined 5.7% to Rs 25155.98 crore in Q1 June 2016 over Q1 June 2015.

Tata Steel is Europes second largest steel producer, with steelmaking in the UK and Netherlands, and manufacturing plants across Europe. The combined Tata Steel group is one of the worlds largest steel producers.

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Pricol gains after court OKs amalgamation
Oct 07,2016

The announcement was made after market hours yesterday, 6 October 2016.

Meanwhile, the BSE Sensex was down 56.56 points, or 0.20%, to 28,049.65.

On BSE, so far 1.87 lakh shares were traded in the counter, compared with average daily volume of 3.52 lakh shares in the past one quarter. The stock hit a high of Rs 120.60 and a low of Rs 116.50 so far during the day. The stock hit a record high of Rs 124.40 on 9 September 2016. The stock hit a 52-week low of Rs 29.85 on 9 November 2015. The stock had outperformed the market over the past 30 days till 6 October 2016, rising 3.99% compared with 2.84% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 37.98% as against Sensexs 3.61% rise.

The small-cap company has equity capital of Rs 9.48 crore. Face value per share is Re 1.

Pricol announced that the High Court of Judicature at Madras on 6 October 2016, pronounced the order sanctioning the scheme of amalgamation of Pricol and its wholly-owned subsidiary, Pricol Pune, and their respective creditors and shareholders.

Pricol said it is awaiting the receipt of the certified copy of the order from the High Court of Judicature at Madras. The scheme will come into effect upon filling certified true copy of order with the Registrar of Companies, Coimbatore, Tamilnadu.

Net profit of Pricol rose 1252.44% to Rs 22.18 crore on 41.06% rise in net sales to Rs 306.75 crore in Q1 June 2016 over Q1 June 2015.

Pricol offers oil pumps and auto components for motor vehicles, motor cycles and three wheelers.

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Tata Motors announces Jaguar Land Rover sales figure
Oct 07,2016

Jaguar Land Rover, the UKs leading manufacturer of premium luxury vehicles, reported its best ever September retail sales of 61,047 vehicles, up 28% compared to September 2015. The months performance has been driven by strong sales of the Land Rover Discovery, Discovery Sport, the Range Rover Evoque and the Jaguar F-PACE, as well as solid sales in China.

Jaguar Land Rover delivered solid retail sales growth across all key regions year on year, with China up 50%, Europe up 32%, UK up 30%, North America up 23% and other overseas markets up 3%. Jaguar Land Rover sold 434,025 vehicles in the first nine months of 2016, 24% up on the same period in the prior year.

Jaguar recorded its best September ever, with retail sales reaching 17,640 vehicles, up 70% on the previous year, reflecting the strong launch of the F-PACE as well as continued solid sales of the XE. Calendar year-to-date sales for Jaguar were 103,366 up 72% year-on-year.

Land Rover strengthened its position as a world-leading manufacturer of all-terrain SUVs, with its strongest ever September sales of 43,407 vehicles, up 17% year-on-year. The strong sales were led by the Discovery Sport, retailing 12,838 vehicles, up 50% compared to last September, and Range Rover Evoque retailing 11,761 vehicles, up 53%. Calendar year-to-date sales for Land Rover reached 330,659 vehicles, 14% up on the prior year.

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NMDC announces Iron ore production and sales (provisional) figures
Oct 07,2016

NMDC announced the achievement of 13.93 million tonnes of production and 15.83 million of sale of Iron ore (provisional) up the month of September 2016.

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Jauss Polymers announces cessation of director
Oct 07,2016

Jauss Polymers announced that Atul Nripraj Barar who was appointed as an Additional Director of the Company ceased to be the director of the Company w.e.f. 30 September 2016 (date of Annual General Meeting)

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Cosmo Films gets upgradation in credit ratings
Oct 07,2016

Cosmo Films announced that India Ratings and Research has upgraded long term credit rating to IND A+ from previous rating of IND A.

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Steel Strip Wheels secures record export order
Oct 07,2016

Steel Strip Wheels has secured a record export order for supply of Caravan Steel wheels for EU Trailer market. The order is for supplying approximately 115000 wheels in a period of six months. Order will be executed from SSWLs Chennai plant with shipments starting from November 2016.

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Ajmera Realty & Infra India incorporates subsidiary
Oct 07,2016

Ajmera Realty & Infra India has incorporated a Whole Owned Subsidiary Company with name and Style Radha Raman Dev Ventures.

This investment is planned to carry on Real Estate Construction and Development activities of the Company.

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United Bank of India revises MCLR rates
Oct 07,2016

United Bank of India has reduced MCLR by 5 bps across all tenures with effect from 17 October 2016 -

Overnight MCLR - 9.20%
One month MCLR - 9.25%
Three months MCLR - 9.30%
Six months MCLR - 9.35%
One year MCLR - 9.40%

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ABB India energizes 1200 kV ultrahigh voltage power transformer
Oct 07,2016

ABB India has developed, manufactured and energized a 1,200-kilovolt (kV) ultrahigh voltage power transformer to support Indias plans to build a 1,200 kV transmission system, supplementing the existing 400 kV and 800 kV transmission grid as demand for electricity increases. This 1.2 million volt transformer represents the highest alternating current voltage level in the world and is installed at the national test station at Bina, Madhya Pradesh in Central India, as part of a collaborative initiative by the countrys central transmission utility, Power Grid Corporation of India (POWERGRID). The transformer was manufactured and tested at ABBs facility in Vadodara.

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Ruchi Soya Industries slips on profit booking
Oct 07,2016

Meanwhile, the BSE Sensex was down 53.83 points, or 0.19%, to 28,052.38.

On BSE, so far 55,000 shares were traded in the counter, compared with average daily volume of 1.13 lakh shares in the past one quarter. The stock hit a high of Rs 24.15 and a low of Rs 23.15 so far during the day. The stock hit a 52-week high of Rs 34.50 on 8 October 2015. The stock hit a 52-week low of Rs 17.75 on 25 May 2016. The stock had outperformed the market over the past 30 days till 6 October 2016, rising 14.81% compared with 2.84% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 5.58% as against Sensexs 3.61% rise.

The small-cap company has equity capital of Rs 66.82 crore. Face value per share is Rs 2.

Shares of Ruchi Soya Industries rose 16.22% in five trading sessions to settle at Rs 23.65 yesterday, 6 October 2016, from its close of Rs 20.35 on 29 September 2016.

The stock surged 7.74% to settle at Rs 23.65 yesterday, 6 October 2016, after the company said it signed a memorandum of understanding (MOU) with the Arunachal Pradesh state government to boost palm oil production through development of quality palm plantations and human capacity building. With this agreement, Ruchi Soya now has obtained permission for oil palm development in 45,000 hectares, covering five districts in Arunachal Pradesh. The announcement was made during market hours yesterday, 6 October 2016.

Ruchi Soya Industries net profit fell 98.8% to Rs 1.03 crore on 12.9% decline in net sales to Rs 4951.99 crore in Q1 June 2016 over Q1 June 2015.

Ruchi Soya is one of Indias leading cooking oil and soy food maker and marketer.

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Dredging Corporation of India announces change in directorate
Oct 07,2016

Dredging Corporation of India announced that Ministry of Shipping, vide Letter DT. 22 September 2016 informed appointment of Sanjeev Ranjan, AS&FA, Ministry of Shipping, Government of India as Part-time Official Director on the Board of Directors of DCI vice B. Poiyaamozhi, Ex. Development Adviser (Ports) from the date of issue of the letter (22 September 2016) till further orders.

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South Indian Bank drops amid volatility after Q2 numbers
Oct 07,2016

The result was announced during market hours today, 7 October 2016.

Meanwhile, the S&P BSE Sensex was down 20.76 points or 0.07% at 28,085.45.

On BSE, so far 19.61 lakh shares were traded in the counter as against average daily volume of 7.76 lakh shares in the past one quarter. The stock was volatile. The stock rose as much as 3.23% at the days high of Rs 25.55 so far during the day, which is a 52-week high for the counter. The stock lost as much as 4.24% at the days low of Rs 23.70 so far during the day. The stock had hit a 52-week low of Rs 16.40 on 29 February 2016. The stock had outperformed the market over the past one month till 6 October 2016, gaining 8.08% compared with 3.01% fall in the Sensex. The scrip had also outperformed the market in past one quarter, advancing 14.32% as against Sensexs 3.46% rise.

The mid-cap bank has equity capital of Rs 135.06 crore. Face value per share is Rs 1.

The banks provisions and contingencies surged 90.2% to Rs 128.33 crore in Q2 September 2016 over Q2 September 2015.

South Indian Banks gross non-performing assets (NPAs) stood at Rs 1745.28 crore as on 30 September 2016 compared with Rs 1651.60 crore as on 30 June 2016 and Rs 892.25 crore as on 30 September 2015. The banks ratio of gross NPAs to gross advances stood at 3.96% as on 30 September 2016, in line with 3.96% as on 30 June 2016 and 2.24% as on 30 September 2015. The ratio of net NPAs to net advances stood at 2.77% as on 30 September 2016 as against 2.89% as on 30 June 2016 and 1.39% as on 30 September 2015.

South Indian Bank is a private sector bank in India.

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