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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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Idea Cellular announces resignation of director
Oct 03,2016

Idea Cellular announced that R. C. Bhargava, an Independent Director, has resigned from the Board of the Company, citing personal reasons. The resignation is effective from 01 October 2016.

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Oswal Leasing to hold AGM
Oct 03,2016

Oswal Leasing announced that the th Annual General Meeting(AGM) of the company on 30 September 2016.

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Welcure Drugs & Pharmaceuticals to hold board meeting
Oct 03,2016

Welcure Drugs & Pharmaceuticals will hold a meeting of the Board of Directors of the Company on 17 October 2016.

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Agro Tech Foods to hold board meeting
Oct 03,2016

Agro Tech Foods will hold a meeting of the Board of Directors of the Company on 19 October 2016 for approval of unaudited accounts for the quarter and half year ended September 30, 2016.

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Amara Raja Batteries to hold board meeting
Oct 03,2016

Amara Raja Batteries will hold a meeting of the Board of Directors of the Company on 5 November 2016 to consider and approve the unaudited financial results for the quarter and six months ended September 30, 2016 (Q2).

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MCX provides update on subsidiary
Oct 03,2016

Multi Commodity Exchange of India announced that pursuant to clause 5 of SEBI circular relating to timelines for compliance with various provisions of Securities laws by Commodity Derivatives Exchanges dated 26 November 2015, MCX CCL, wholly owned subsidiary of the Company, have made an application to SEBI seeking recognition as a clearing corporation to enable MCX to transfer the functions of clearing and settlement of trades to a separate clearing corporation viz. MCX CCL.

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Himatsingka Seide commences commercial production of expanded sheeting unit
Oct 03,2016

Himatsingka Seide announced that as part of its expansion project, the Company has commenced commercial production of its expanded sheeting unit at Hassan from 03 October 2016. Consequent to the expansion, the capacity has doubled from 23 million metres per annum to 46 million metres per annum.

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Gayatri Projects secured Rs 926 crore highway contract
Oct 03,2016

Gayatri Projects has secured a Rs 926 crore highway contract in the State of Bihar from Bihar State Road Development Corporation and Ministry of Road Transport and Highways for four-laning of Gaya- Hisua-Rajgir-Nalanda-Biharsharif section of NH-82. The project is being funded by Japan International Corporation Agency.

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NCC Blue Water Products appoints compliance officer
Oct 03,2016

NCC Blue Water Products announced that T Vamsilatha, Company Secretary of the Company was appointed as a Compliance Officer of the Company.

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New orders boost L&T
Oct 03,2016

The announcement was made during market hours today, 3 October 2016.

Meanwhile, the S&P BSE Sensex was up 325.67 points or 1.17% at 28,191.63.

On BSE, so far 79,000 shares were traded in the counter as against average daily volume of 1.67 lakh shares in the past one quarter. The stock hit a high of Rs 1,459 and a low of Rs 1,436 so far during the day. The stock had hit a 52-week high of Rs 1,615 on 27 July 2016. The stock had hit a 52-week low of Rs 1,016.60 on 12 February 2016. The stock had underperformed the market over the past one month till 30 September 2016, sliding 2.86% compared with 1.68% fall in the Sensex. The scrip had also underperformed the market in past one quarter, declining 4.31% as against Sensexs 3.21% rise.

The large-cap company has equity capital of Rs 186.47 crore. Face value per share is Rs 2.

L&Ts consolidated net profit rose 45.5% to Rs 609.60 crore on 9.3% growth in net sales to Rs 21718.61 crore in Q1 June 2016 over Q1 June 2015.

L&T is a major Indian multinational engaged in technology, engineering, construction, manufacturing and financial services. It operates in more than 30 countries worldwide.

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Volumes jump at Cera Sanitaryware counter
Oct 03,2016

Cera Sanitaryware clocked volume of 63,000 shares by 13:36 IST on BSE, a 100.45-times surge over two-week average daily volume of 629 shares. The stock rose 0.08% to Rs 2,376.

Kalpataru Power Transmission notched up volume of 17.45 lakh shares, a 91.53-fold surge over two-week average daily volume of 19,000 shares. The stock rose 1.21% to Rs 263.50.

Indian Bank saw volume of 18.23 lakh shares, a 25.22-fold surge over two-week average daily volume of 72,000 shares. The stock rose 6.16% to Rs 224.

RattanIndia Power clocked volume of 90.46 lakh shares, a 14.17-fold surge over two-week average daily volume of 6.38 lakh shares. The stock rose 6.91% to Rs 8.82.

Aditya Birla Nuvo saw volume of 3.19 lakh shares, a 14.12-fold rise over two-week average daily volume of 23,000 shares. The stock rose 1.10% to Rs 1378.70.

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CDPQ and Edelweiss enter into long-term partnership agreement
Oct 03,2016

Edelweiss Financial Services announced that Caisse de dn++pn++t et placement du Qun++bec (CDPQ) has entered into a long term partnership agreement with Edelweiss Group. The agreement includes target investments by CDPQ of Rs 5000 crore over four years that will provide Edelweiss Group with capital to invest in stressed assets and private debt opportunities in India. The partnership creates one of the largest and most diversified credit investing platforms in India.

This platform will invest in assets with the aim of restructuring debt and turning around companies, as well as becoming the provider of financing to Indian entrepreneurs and companies. These investments, to becarried out by Edelweiss ARC and through different Edelweiss funds, will result in the purchase of nonperforming loans from Indian banks and investments in private debt of growing Indian companies. To thisend, Edelweiss recently established a consulting team to add value and make operational improvements in promising industrial businesses with a focus on Remake in India.

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Nikkei India Manufacturing PMI slows to 52.1 in September from 52.6 in August
Oct 03,2016

Posting above the crucial 50.0 threshold for the ninth consecutive month, the seasonally adjusted Nikkei India Manufacturing Purchasing Managers Index (PMI), a composite single-figure indicator of operating performance - highlighted a further improvement in the health of the sector. Down from 52.6 in August to 52.1 in September, however, the latest reading indicated that growth lost some momentum.

Indias manufacturing upturn was sustained in September, as a further increase in order books underpinned growth of output and purchasing activity. That said, rates of expansion eased in all cases. One area of strength was external demand, with firms noting the strongest rise in new export orders since July 2015. The latest PMI figures also showed an intensification of inflationary pressures. Both input costs and output charges increased at quicker rates.

One factor contributing to the slowdown in the sector was a softer increase in new business inflows. Whereas improved client demand supported the upswing in order books, growth was reportedly hampered by strong competition for new work. Foreign new orders for Indian-manufactured goods expanded markedly in September, and at the quickest rate in 14 months. Panellists commented on successful price negotiations with clients. Greater workplace activity led companies to scale up their buying levels and hire additional workers in September. That said, quantities of purchases rose at the slowest pace since June, while job creation remained marginal overall. Manufacturing output in India continued to increase in September, marking a nine-month sequence of growth. However, the rate of expansion eased since August and was relatively modest.

Amid reports of orders being fulfilled directly from stocks, post-production inventories fell again in September. Conversely, holdings of raw materials and semi-manufactured goods rose for the tenth successive month. Average purchase costs increased at a faster pace in September, but one that was weak compared to its long-run trend. The main item reported to be up in price was steel. Data implied that manufacturers attempted to protect profit margins as output charges were raised further. Despite ticking higher, the rate of inflation was historically muted. Elsewhere, outstanding business volumes increased, while vendor performance deteriorated. Backlogs rose for the fourth straight month, which panellists associated with delayed payments from clients. Suppliers delivery times, meanwhile, slowed as a result of raw material shortages.

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MCX firms up after RBI hikes FPIs investment limit
Oct 03,2016

The Reserve Bank of India (RBI) made the announcement after market hours on Friday, 30 September 2016.

Meanwhile, the BSE Sensex was up 299.99 points, or 1.08%, to 28,165.95.

On BSE, so far 1.20 lakh shares were traded in the counter, compared with average daily volume of 79,889 shares in the past one quarter. The stock hit a high of Rs 1,420 so far during the day, which is also a 52-week high for the counter. The stock hit a low of Rs 1,375.40 so far during the day. The stock hit a 52-week low of Rs 726 on 12 February 2016. The stock had outperformed the market over the past 30 days till 30 September 2016, rising 36.12% compared with 1.96% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 33.63% as against Sensexs 2.66% rise.

The mid-cap company has equity capital of Rs 51 crore. Face value per share is Rs 10.

RBI notified that foreign institutional investors (FIIs)/registered foreign portfolios investors (RFPIs) can under the portfolio investment scheme (PIS) now invest upto 34% of the paid up capital of Multi Commodity Exchange of India (MCX). The purchases could be made through primary market and stock exchanges. RBI stated that the companys board of directors has passed a resolution and its shareholders have passed a special resolution agreeing for enhancing the limit for the purchase of its equity shares by FIIs/RFPIs.

MCXs net profit rose 54.5% to Rs 32.81 crore on 12.5% rise in net sales to Rs 58.23 crore in Q1 June 2016 over Q1 June 2015.

MCX is Indias first listed, national-level, electronic, commodity futures exchange with permanent recognition from the Government of India.

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Metal stocks shine after positive economic data from China
Oct 03,2016

Hindustan Zinc (up 10.98% at Rs 258.85), Steel Authority of India (up 3.34% at Rs 47.90), NMDC (up 2.93% at Rs 108.80), Jindal Steel & Power (up 2.63% at Rs 78), Vedanta (up 2.41% at Rs 176.20), JSW Steel (up 2.04% at Rs 1,766.95), Tata Steel (up 1.66% at Rs 380.60), National Aluminium Company (up 1.21% at Rs 46.05) and Hindalco Industries (up 0.1% at Rs 153) edged higher. Hindustan Copper (down 0.08% at Rs 59.70) edged lower.

Meanwhile, the S&P BSE Sensex was up 297.36 points or 1.07% at 28,163.32.

The S&P BSE Metal index had underperformed the market over the past one month till 30 September 2016, sliding 3.15% compared with 1.68% fall in the Sensex. The index had, however, outperformed the market in past one quarter, gaining 14.6% as against Sensexs 3.21% rise.

Latest data released on 1 October 2016 showed activity in Chinas manufacturing sector expanded again in September. The official Purchasing Managers Index (PMI) stood at 50.4 in September, identical with the previous months level, the National Bureau of Statistics said. The non-manufacturing PMI rose to 53.7 from 53.5 in August.

China is the worlds largest consumer of steel, copper and aluminum.

Meanwhile, copper prices edged lower in the global commodities market. High Grade Copper for December 2016 delivery was currently off 0.02% at $2.21 per pound on the COMEX.

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