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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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DoNER Ministry proposes revised guidelines for Northeast projects
Oct 04,2016

The Union Minister of State (Independent Charge) for Development of North Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr Jitendra Singh announced in Guwahati today that a new revised guidelines will be prepared by the Ministry of DoNER with the objective of expediting development projects in Northeast by simplifying procedures to avoid delay and at the same time bring in more transparency.

At a joint meeting of Ministry of DoNER and Government of Assam, Dr Jitendra Singh disclosed that judicious time-bound planning and monitoring of projects using Space technology, satellite imaging and IT tools like Portal and App will be put to optimum use to avoid undue delays. At the same time, he said, use of Space technology can bring in more transparency and authenticity in Utilisation Certificates (UCs) submitted for various projects.

Emphasising on the completion of the ongoing projects without resorting to parking of funds, Dr Jitendra Singh made it clear, no fresh sanction for new projects will normally be issued if unspent balance of the State is more than 1.5 times of the normative allocation of the State on account or Utilisation Certificates (UCs) due is more than 5 per cent of the total release. The introduction of online submission of documents should leave no excuse for delay in file work, he added.

Dr Jitendra Singh also advised the State Governments to prepare Department Project Reports (DPRs) and get them vetted techno-economically and recommended from SLEC in order to avoid delay.

Lauding the innovative and fast track approach adopted by the Ministry of DoNER, Dr Jitendra Singh said that there has been a substantial jump in the release of funds and submission of UCs in the last two and a half years in which a total of Rs.252.54 crores has been released. Citing the figures, he said, in 2014-15, when the present Government took over, a total of Rs. 60.46 crores was released for NLCPR projects in whole of the year while in the current financial year of 2016-17, in the first 6 months itself, Rs. 92.67 crore has already been released.

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Banking, auto and realty stocks to be watched ahead of RBI policy meeting
Oct 04,2016

Interest rate sensitive banking, auto and realty stocks will be watched ahead of the Reserve Bank of Indias (RBI) monetary policy meeting today, 4 October 2016. Purchases of automobiles, including that of cars, utility vehicles and commercial vehicles are substantially driven by financing. Purchases of both residential and commercial property are largely driven by finance. The latest monetary policy meeting will be the first meet where the interest rate decision is taken by a panel. Urjit Patel, the RBI governor, will be one among the six-member Monetary Policy Committee (MPC) recently notified by the government. The central bank had left its benchmark repo rate unchanged at 6.5% in its last meeting.

Hero MotoCorps total sales rose 11% to 6.74 lakh units in September 2016 over September 2015. The company registered highest ever sales in any month so far in September 2016. The announcement was made after market hours yesterday, 3 October 2016. The growth momentum was backed by a series of positive factors such as the successful market launch of the Splendor iSmart 110; augmented leadership in the 125 cc segment with the Glamour, emerging as the largest- selling 125 cc motorcycle in the country and the positive trend maintained by the new scooter portfolio.

Jubilant FoodWorks after market hours yesterday, 3 October 2016, announced a unique pizza combo for the Navratras. The latest innovative offering by the company includes a 100% Vegetarian Pizza, Sago Pudding and Sabudana Crispies. During Navratras, Dominos Pizza will convert 459 of its 1,062 restaurants to All-vegetarian restaurants from 1 October 2016 till 10 October 2016. All the identified restaurants will serve the new Navratri Combo along with the other vegetarian items on the menu for the period. The menu will be available for dine-in as well as delivery (offline and online delivery).

Wockhardt announced that US Food and Drug Administration (USFDA) on 30 September 2016 excluded the product Ceftriazone Sodium from import alert 66-40 announced by USFDA on the companys active pharmaceutical ingredients (API) unit at Ankleshwar, Gujarat on 8 August 2016. This will enable the company to manufacture and sell Ceftriazone API and formulation to US market. The announcement was made after market hours yesterday, 3 October 2016.

Ahluwalia Contracts (India) announced that Pushpa Rani, one of the promoter of company gifted 2.45 lakh equity shares of company to her relative and brother, Bikramjit Ahluwalia, promoter of the company. The announcement was made after market hours yesterday, 3 October 2016.

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Indian Metals & Ferro Alloys gets ratings assigned for bank facilities
Oct 03,2016

Indian Metals & Ferro Alloys has been assigned ratings for its bank facilities from ICRA as follows -

Long term - ICRA A-/ Stable Outlook
Short term - ICRA A1

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Usher Agro provides business update
Oct 03,2016

Usher Agro announced that the Company had received notices for winding up petition file against Company by

- CFSIT Inc. USA for recovery of their outstanding dues of Rs. 6548.14 lakhs ($ 10 Million) with interest @12% p.a. as per advance payment & supply contract.

- PT Bank Maybank Indonesia Tbk, Mumbai for recovery of their outstanding dues of Rs. 1778.18 lakhs with interest @16.4%. p.a.

The above petitions are merely file, but not admitted. Further the Company will take suitable legal action in consultation with its legal counsels.

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HCL Technologies wins Best AI Innovator Award
Oct 03,2016

HCL Technologies won the Award for Best AI Innovator at the 2016 AIconics Awards, which celebrate drive, innovation, and hard work in the international Artificial Intelligence Community. HCL won for Satori, a DRYiCETM module that is an AI-enabled web application combining the functions necessary for traditional and 21st-century enterprises, such as content and document management, personal profiling, enterprise social networking, enterprise search, business intelligence, workflow management, and an enterprise application store.

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Weizmann announces cessation of company secretary
Oct 03,2016

Weizmann announced that S. Srinivasan the Company Secretary of the Company has retired on 30 September 2016 and the Company is in the process of appointing a new Company Secretary.

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Vikas EcoTech gets upgrade in credit ratings
Oct 03,2016

Vikas EcoTech has received an upgraded rating of BBB+ from BBB- by Brickworks Ratings.

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Gujarat Narmada Valley Fertilizers & Chemicals announces cessation of CFO
Oct 03,2016

Gujarat Narmada Valley Fertilizers & Chemicals announced that Vikram Mathur, General Manager & Chief Financial Officer (CFO) has retired from the services of the Company on attaining the age of superannuation w.e.f. 30 September 2016 (after office hours). Consequently, he has ceased to be CFO of the Company.

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Aarti Industries gets revision in credit ratings
Oct 03,2016

Aarti Industries announced that CRISIL has upgraded debt securities rating for the Company from A+/Positive Outlook to AA-/Stable Outlook (For Long Term Rating and NCDs) and from A1 to A1+ (for Short Term Rating).

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Lakshmi Precision Screws announces resignation of director
Oct 03,2016

Lakshmi Precision Screws announced that the Company had received the intimation of resignation from Ramesh Chandra Jain, Independent Director.

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Ennore Coke gets registered with BIFR
Oct 03,2016

Ennore Coke announced that the Companys reference to the Board for Industrial and Financial Reconstruction (BIFR) pursuant to the provisions of Sick Industrial Companies (Special Provisions) Act, 1985 (SJCA), has been registered with BIFR with registration Number 125/2016.

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Wockhardt intimates of USFDAs exclusion of n++Ceftriazone Sodiumn++ from Import Alert
Oct 03,2016

With reference to an update on Import Alert 66-40 by US FDA on the Companys API Unit at Ankleshwar, Gujarat, Wockhardt announced that U.S. Food and Drug Administration (USFDA) on 30 September 2016 has posted on its website an update on the above referred matter and excluded the product n++Ceftriazone Sodiumn++ from Import Alert. This will enable the Company to manufacture and sell Ceftriazone API and formulation to US market.

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Gujarat State Fertilizers & Chemicals appoints director
Oct 03,2016

Gujarat State Fertilizers & Chemicals announced the appointment of Anil Mukim as a Rotational Director on the Board of the Company with effect from 30 September 2016.

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Grandma Trading & Agencies announces resignation of director
Oct 03,2016

Grandma Trading & Agencies announced that Srinivasa Rao Pabbathi Whole Time Director & CFO has tendered his resignation from the Board of the Director of the Company with effect from 03 October 2016.

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E-Land Apparel announces resignation of CFO
Oct 03,2016

E-Land Apparel announced that Byounghoon Yi has tendered his resignation from the position of the Chief Financial Officer of the Company with effect from 03 October 2016.

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