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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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National Fertilizers gains after getting LoI for establishing plant
Apr 18,2017

The announcement was made after market hours yesterday, 17 April 2017.

Meanwhile, the S&P BSE Sensex was up 241.95 points, or 0.82% to 29,655.61.

On the BSE, 64,000 shares were traded in the counter so far, compared with average daily volumes of 4.01 lakh shares in the past one quarter. The stock had hit a high of Rs 79.90 and a low of Rs 78.60 so far during the day.

The stock hit a 52-week high of Rs 80.95 on 31 March 2017. The stock hit a 52-week low of Rs 29.25 on 2 May 2016.

The stock had outperformed the market over the past one month till 17 April 2017, rising 11.72% compared with 0.79% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 66.63% as against Sensexs 8% rise.

The mid-cap company has equity capital of Rs 490.58 crore. Face value per share is Rs 10.

National Fertilizers (NFL) said that it has received letter of intent (LOI) from SDSC-SHAR (Satish Dhawan Space Centre, Sriharikota) for establishing Di-Nitrogen Tetroxide (N2O4) production plant (NPP) on build, Own, operate & supply model. The project is to be set-up on build, own, operate & supply (BOOS) model at NFL Vijaipur, Guna, Madhya Pradesh. The plant capacity shall be around 1,095 metric tonnes (MT) N2O4 per annum.

The product (N2O4) shall be exclusively supplied to SDSC-SHAR under long term agreement for 25 years period. The project activities (zero date) shall start around July 2017 with a gestation period of 18 months. The estimated capex requirement shall be around Rs 350 crore.

Net profit of National Fertilizer declined 43.4% to Rs 73.24 crore on 7.9% rise in net sales to Rs 2524.04 crore in Q3 December 2016 over Q3 December 2015.

National Fertilizers is the 2nd largest producer of Urea in the country with a total share of 15.5% and largest Urea producer amongst public sector Urea producing companies.

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GTL Infrastructure provides update on SDR process
Apr 18,2017

GTL Infrastructure announced that the Company and Chennai Network Infrastructure have completed important milestones in their respective SDR processes. On 13 April 2017, the CDR lenders of GIL and CNIL, converted part of the outstanding debt into equity shares such that each set of CDR lender, holds 51% of the equity share capital (on fully diluted basis) of GIL and CNIL, respectively.

The Indian Rupee denominated debt levels of GIL and CNIL are now at sustainable levels. The respective details are as under -

GIL
Rupee Debt prior to conversion - Rs 3390.57 crore
Rupee Debt post conversion - Rs 1698.35 crore

CNIL
Rupee Debt prior to conversion - Rs 5162.89 crore
Rupee Debt post conversion - Rs 2353.93 crore

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IFCI announces cessation of directors
Apr 18,2017

IFCI announced that S V Ranganath, Savita Mahajan and K S Sreenivasan have ceased to be Independent Directors on the Board of IFCI with effect from 01 April 2017 on completion of their tenure.

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Gruh Finance jumps after strong Q4 earnings
Apr 18,2017

The result was announced after market hours yesterday, 17 April 2017.

Meanwhile, the S&P BSE Sensex was up 187 points or 0.64% at 29,600.66.

On the BSE, 57,000 shares were traded on the counter so far as against the average daily volumes of 31,000 shares in the past two weeks. The stock had hit a high of Rs 398.90 and a low of Rs 386 so far during the day.

The companys loan assets have increased to Rs 13244 crore as on 31 March 2017, from Rs 11115 crore as on 31 March 2016, registering a growth of 19%.

Gruh Finances board of directors at a meeting held yesterday, 17 April 2017, recommended a dividend of Rs 2.80 per share for the year ended 31 March 2017.

Gruh Finances main business is to provide loans for purchase or construction of residential houses.

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Ind-Ra: Northern Millers to Perform Better than Southern Counterparts
Apr 18,2017

India Ratings and Research (Ind-Ra) has assigned a stable outlook on the sugar sector for FY18 as the agency believes that production recovery in sugar season October 2017 to September 2018 (SS18) is likely to constrain any further increase in the commodity price from 1HSS18 (October 2017-December 2017). With average domestic sugar price expectation of INR37-40/kg (6% higher than expected FY17 prices) in FY18, high cane procurement costs are likely to constrain EBIDTA below FY17 levels. This is likely to result in credit profiles of sugar companies remaining largely similar or marginally worse-off than FY17.

Industry reports estimate that global sugar deficit is likely to contract in SS18 with India registering production of 25 million metric tons, amid improving acreage levels in Maharashtra and Karnataka. The stock-to-use ratio for SS18 is likely to improve to 14.7%, following an anticipated decline to 13.7% in SS17 (October 2016 to September 2017) and 28.3% in SS16. In the agencys assessment, lucrative cane prices and normal monsoons would drive production gains in the country.

Ind-Ra expects UP-based millers to fare better than their southern and western counterparts, despite assuming a higher cane costs (10% yoy increase in state advisory prices for SS18). Ind-Ra expects the profitability of UP-based sugar companies to be 10%-15% lower in FY18 than the estimated FY17 level, due to higher cane costs (premium over and above state-advised price to farmers). In the absence of major working capital changes and capex plans, the credit metrics for FY18 for UP-based millers is likely to maintain or improve from estimated FY17 level.

Ind-Ra expects millers to produce higher distillery volumes in SS18. The ability to divert the same towards ethanol, and the consequent achievement of a higher blending rate for FY18 would largely depend on the pricing of alternative fuels.

Outlook Sensitivities

Recovery in Sugar Cycle: Higher-than-anticipated global sugar production due to sharp production recovery levels at end-SS18 may rapidly transform the current scenario to a high surplus one. In such an event, sugar prices could be under pressure resulting in lower margins thereby impacting credit profile of sugar companies.

Favourable Policy Changes: Pan-India changes in the regulatory policies i.e., linking of raw material cost (cane prices) to the sugar and by-products realisations would help millers gain better control over their profitability and balance sheets. This is because the profitability would depend on individual operational efficiencies, thus positively impacting their credit profile.

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TCS in spotlight ahead of Q4 results
Apr 18,2017

IT major TCS is scheduled to release Q4 March 2017 results today, 18 April 2017.

Among other companies, Hindustan Oil Exploration Company, Omax Autos, Muthoot Capital Services and VST Industries are scheduleD to release March 2017 quarter earnings today, 18 April 2017.

Axis Bank announced that it has retained the marginal cost of funds based lending rates (MCLR) at the same levels across tenors. The banks MCLR for overnight loans will be 7.9%, for one month will be 7.9% and for three months will be 8.05%.

The MCLR on 6-month loans will be 8.15% and for one-year loans the rate would be 8.25%, the bank said. MCLR for two-year loans would be at 8.3% and loans with three-year maturity would carry an MCLR of 8.35%, the bank said. The new loans will be priced at the published interntal benchmark MCLRs as mentioned above with effect from 18 April 2017. The announcement was made after market hours yesterday, 17 April 2017.

Gruh Finances net profit rose 25.76% to Rs 110.45 crore on 13.4% rise in total income from operations to Rs 416.11 crore in Q4 March 2017 over Q4 March 2016. The announcement was made after market hours yesterday, 17 April 2017.

APL Apollo Tubes announced the launch of its new brand Apollo Coastguard, thus marking a revolutionary change in the world of galvanized steel pipes. The Apollo Coastguard pipes are made of special galvanized steel to provide excellent corrosion resistance against wind, water and road salts, making them 100% rust proof pipes to last for generations. The announcement was made after market hours yesterday, 17 April 2017.

National Fertilizers (NFL) said that it has received letter of intent (LOI) from SDSC-SHAR (Satish Dhawan Space Centre, Sriharikota) for establishing Di-Nitrogen Tetroxide (N2O4) production plant (NPP) on build, Own, operate & supply model. The project is to be set-up on build, own, operate & supply (BOOS) model at NFL Vijaipur, Guna, Madhya Pradesh. The plant capacity shall be around 1,095 metric tonnes (MT) N2O4 per annum.

The product (N2O4) shall be exclusively supplied to SDSC-SHAR under long term agreement for 25 years period. The project activities (zero date) shall start around July 2017 with a gestation period of 18 months. The estimated capex requirement shall be around Rs 350 crore. The announcement was made after market hours yesterday, 17 April 2017.

CMI said that its board of directors on 17 April 2017 approved the allotment of 2.5 lakh equity shares having face value Rs 10 each at a premium of Rs 290 per share to promoter/promoter group. The announcement was made after market hours yesterday, 17 April 2017.

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Seshasayee Paper & Boards provides operations update
Apr 17,2017

Seshasayee Paper & Boards announced that due to severe drought conditions and drying of perennial rivers in the State of Tamil Nadu, the District Revenue Officials have advised the Company to restrict drawal of water from river Cauvery for drinking purpose only.

The Company has appealed to the Revenue Official to permit minimum quantity of water to maintain safe working conditions. Steps have been taken to step up ground water resources. Meantime, partial production is maintained.

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Board of VCK Capital Market Services approves appointment of company secretary
Apr 17,2017

The Board of Directors of VCK Capital Market Services at their meeting held on 17 April 2017 has inter-alia, approved the appointment of Bandana Saha (A46329) for the post of Company Secretary and Compliance Officer of the Company with effect from 17 April 2017.

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Board of Kabra Drugs approves change in directorate
Apr 17,2017

The Board of Directors of Kabra Drugs at its meeting held on 17 April 2017 has taken the following decisions:

1.The Board has accepted resignation of Rajendra Kumar Bordia from the Board of the Company.

2.The Board has appointed Kuldeep Kumar Ajmera, as Additional Director in the Independent non- executive category on the Board Of the Company.

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Board of Shankara Building Products accepts resignation of nominee director
Apr 17,2017

Shankara Building Products announced that the Board of Directors of the Company at its meeting held on 17 April 2017 has accepted the resignation of Siddhartha Mundra- Nominee Director.

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Board of Tinna Rubber & Infrastructure approves resignation of director
Apr 17,2017

Tinna Rubber & Infrastructure announced that the Board of Directors has accepted the resignation of Shobha Sekhri as Whole Time Director with effect from 12 April 2017.

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Board of Cybermate Infotek approves preferential issue of shares and warrants
Apr 17,2017

The Board of Directors of Cybermate Infotek at its meeting held on 17 April 2017 has approved the issue of 75 Lakh Equity Share warrants to the Promoter and 39 Lakh Equity Share Warrants to persons other than promoters on Preferential basis as per the provisions of Chapter VII of SEBI (ICDR) Regulations 2009 as amended.

The Extraordinary General Meeting (EGM) will be held on Thursday the 18 May 2017 to seek the approval of the shareholders of the company pursuant to the provisions of Sec 42/62 of the Companies Act 2013 and SEBI (LODR) Regulations 2015 as amended.

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BLS International Services fixes record date for sub-division of shares
Apr 17,2017

BLS International Services has fixed 27 April 2017 as record date for stock split of shares of the Company.

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Board of Zicom Electronic Security Systems appoints director
Apr 17,2017

The Board of Directors of Zicom Electronic Security Systems at its meeting held on 17 April 2017 has appointed Sharada Sundaram as a IDBI Bank Nominee Director of the Company w.e.f. 17 April 2017 pursuant to Section 161 and other applicable provisions of the Companies Act, 2013 read with Rules thereunder and Article 111 of the Articles of Association of the Company.

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Board of Opto Circuits (India) approves change in directorate
Apr 17,2017

Opto Circuits (India) announced that the Board of Directors of the Company at its meeting held on 16 April 2017 has approved the following -

Appointment of Somadas GC, Independent Director as Managing Director with effect from 16 April 2017.

Appointment of Nanjappaiah Madgondapalli Ramu as Additional Director in capacity of Independent Director with effect from 16 April 2017.

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