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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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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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Indian Telecom Industry ready to share n++ Know hown++ and n++Know why with foreign partners-Manoj Sinha
Oct 03,2016

The Union Minister of Communications Shri Manoj Sinha today assured the World that the Government of India will do everything to ensure that Indian Telecom Products and Services become 1st choice of anyones telecom needs. He said if one is looking for secure ICT products, they should rely on Indian products and our industry is eager to share n++ Know hown++ and n++Know whyn++. He said that Indian manufacturers have already made significant strides in exports of IT and telecom products to several countries and established that Indian IT and telecom products are of world-class quality and globally competitive on technology and price. Shri Sinha added that India has all the ingredients of a globally competitive telecom industry like large domestic market, world class talent, focus on R&D and IPR creation beside a robust framework for electronic manufacturing.

Shri Sinha told the representatives from 28 participating countries from South Asia, South-East Asia, Caribbean, Latin America and Africa that India also holds the distinction of being the fastest growing telecom network especially with advent of increased broadband penetration. This large telecom network requires equipment & technology that is second to none in the world, yet India offers the lowest telephony tariffs in the world. The Minister said, with this background, the foreign delegates can be assured that when they buy telecom products and services from India, they will be buying the best technology at competitive costs.

Shri Sinha informed that Indian Telecom Sector has been growing at a phenomenal pace and is considered as the fastest growing telecom market in the world with the 2nd largest subscriber base with more than 1060 million connectivity, 160 million Broadband connections and 350 million plus internet users. He said the rapid growth of the sector has fuelled the demand for telecom equipment including mobile phones which is about 20 billion US dollars in 2015-16 and is estimated to exceed 30 billion US dollars by 2020.

Referring to the Prime Minister Narendra Modis vision of Digital India to bridge the digital divide, Shri Sinha said with massive thrust on Make in India and Digital India initiatives, a large opportunity for innovative products and services has been created and India is poised for another digital and data revolution.

In his address Secretary Telecom Shri J.S.Deepak said that Indian Telecom sector in the last one month has witnessed some major developments like the major launch of a Telecom Operator, big mergers and Indias largest ever Spectrum auction which is now on. He said Indian companies have exported more than 110 billion US dollars of ICT products mostly to advanced countries, which is likely to witness a big spurt in near future. He said through Digital India we are empowering the common man by giving them Choice to choose best products and services and by giving Voice that is the opportunity to give feedback on government schemes.

Speaking on the occasion, Secretary, DIPP, Shri Ramesh Abhisek said that this is very good time to do business in India and business with India as the initiatives taken in the last two and half years are transformative in nature, be it Make in India or the Game Changer tax regime called GST. He said laws like Bankruptcy and Insolvency code, where exit mechanism for companies are there are helping toward Ease of Doing Business in India.

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Reliance Nippon Life Insurance appoints CEO
Oct 03,2016

The Board of Directors of Reliance Nippon Life Insurance, part of Reliance Capital, has announced the appointment of Ashish Vohra as the new CEO of the Company.

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Bajaj Auto gains after announcing September sales
Oct 03,2016

The company announced the monthly sales volume data during market hours today, 3 October 2016.

Meanwhile, the S&P BSE Sensex was up 272.53 points or 0.98% at 28,138.49.

On BSE, so far 14,000 shares were traded in the counter as against average daily volume of 22,872 shares in the past one quarter. The stock was volatile. The stock rose as much as 2.6% at the days high of Rs 2,905.80 so far during the day. The stock lost as much as 0.11% at the days low of Rs 2,829 so far during the day. The stock had hit a record high of Rs 3,122 on 9 September 2016. The stock had hit a 52-week low of Rs 2,173.40 on 29 February 2016. The stock had underperformed the market over the past one month till 30 September 2016, sliding 5.03% compared with 1.68% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 5.43% as against Sensexs 3.21% rise.

The large-cap company has equity capital of Rs 289.37 crore. Face value per share is Rs 10.

Bajaj Autos domestic sales rose 21% to 2.55 lakh units in September 2016 over September 2015. Exports declined 30% to 1.21 lakh units in September 2016 over September 2015.

Bajaj Autos consolidated net profit rose 13.8% to Rs 1039.70 crore on 2.8% increase in net sales to Rs 5643.61 crore in Q1 June 2016 over Q1 June 2015.

Bajaj Auto is one of the leading two-and three-wheeler manufacturers in India.

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Adani Ports gains 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 278.94 points, or 1%, to 28,144.90.

On BSE, so far 2.72 lakh shares were traded in the counter, compared with average daily volume of 4.89 lakh shares in the past one quarter. The stock hit a high of Rs 280 and a low of Rs 259.95 so far during the day. The stock hit a 52-week high of Rs 330.75 on 15 October 2015. The stock hit a 52-week low of Rs 169.65 on 12 February 2016. The stock had outperformed the market over the past 30 days till 30 September 2016, sliding 0.85% compared with 1.96% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 25.52% as against Sensexs 2.66% rise.

The large-cap company has equity capital of Rs 414.19 crore. Face value per share is Rs 2.

RBI notified that foreign institutional investors (FIIs)/registered foreign portfolios investors (RFPIs) can under the portfolio investment scheme (PIS) now invest upto 49% of the paid up capital of Adani Ports and Special Economic Zone (APSEZ). 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.

APSEZs consolidated net profit rose 30.8% to Rs 835.71 crore on 6.34% growth in net sales to Rs 1817.23 crore in Q1 June 2016 over Q1 June 2015.

APSEZ, a part of the Adani Group, is Indias largest private port operator.

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Reliance Capital provides update on subsidiary
Oct 03,2016

The Board of Directors of Reliance Home Finance, a 100 per cent subsidiary of Reliance Capital has announced the appointment of RavindraSudhalkar as the CEO of the company.

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EPFO To Launch Aadhar Linked Services For PF Withdrawal And Pension Fixation, Says Its Chief
Oct 03,2016

The Employees Provident Fund Organization (EPFO) will soon launch a host of Aadhar linked services like PF withdrawals and pension fixation for its four crore subscribers to facilitate such faster transactions for their benefit, according to its Commissioner, Dr. V P Joy.

Inaugurating a Seminar on Employees Provident Fund Organizationss initiatives - Simplification of EPF & MP Act and the Schemes framed there under, organized by PHD Chamber of Commerce and Industry, the Central Provident Fund Commissioner pointed out saying that at present, 1.5 crore subscribers of EPFO are seeded with Aadhar linked PF accounts and the challenge for the organization is to equip the remaining subscribers with this facilities for which all out efforts are being made so that it becomes effective by forthcoming March 31.

According to him, until 2011, the EPFO was largely manual driven and therefore, delay would be inevitable for both PF and pension subscribers for facilitating their transactions.

However, after 2011 onwards, with the facilitation of technology, the EPFO has begun to computerize most of its operations and now the time has almost come that this exercise is almost complete for PF and pension accounts for all its subscribers and if all goes well, the electronic Aadhar linked transactions for all EPFO subscribers would happen electronically to enable them conclude such transactions without any legwork latest by March 2017.

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Sangam Health Care Products to hold AGM
Oct 03,2016

Sangam Health Care Products announced that the 22th Annual General Meeting(AGM) of the company on 30 September 2016.

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Unijolly Investments Company to hold AGM
Oct 03,2016

Unijolly Investments Company announced that the th Annual General Meeting(AGM) of the company on 30 September 2016.

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Trident to hold board meeting
Oct 03,2016

Trident will hold a meeting of the Board of Directors of the Company on 21 October 2016 to consider and approve the Unaudited Financial Results for the quarter and half year ended on September 30, 2016.

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Golden Carpets to hold AGM
Oct 03,2016

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

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UP Hotels to hold AGM
Oct 03,2016

UP Hotels announced that the 53th Annual General Meeting(AGM) of the company on 30 September 2016.

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Omkar Pharmachem to hold board meeting
Oct 03,2016

Omkar Pharmachem will hold a meeting of the Board of Directors of the Company on 1 October 2016.

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Mahindra Holidays gains after acquisition
Oct 03,2016

The announcement was made on Saturday, 1 October 2016.

Meanwhile, the BSE Sensex was up 287.92 points, or 1.03%, to 28,153.88.

On BSE, so far 1,167 shares were traded in the counter, compared with average daily volume of 7,404 shares in the past one quarter. The stock hit a high of Rs 467 and a low of Rs 452 so far during the day. The stock hit a 52-week high of Rs 513.30 on 26 August 2016. The stock hit a 52-week low of Rs 303.75 on 5 October 2015. The stock had underperformed the market over the past 30 days till 30 September 2016, falling 6.01% compared with 1.96% decline in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 8.64% as against Sensexs 2.66% rise.

The mid-cap company has equity capital of Rs 88.78 crore. Face value per share is Rs 10.

Nreach Online Services owns a brand GIFTXOXO, which offers over 4,000 categories of experiences and activities including travel and adventure, gourmet, health and wellness, art and learning.

Mahindra Holidays & Resorts India said this is strategic investment by the company. Nreach will help in curating experiences for the companys 2 lakh vacation ownership (Club Mahindra Holidays) members in and around various cities in India.

Net profit of Mahindra Holidays & Resorts India rose 20% to Rs 30.24 crore on 4.5% rise in net sales to Rs 228.88 crore in Q1 June 2016 over Q1 June 2015.

Mahindra Holidays & Resorts India is a part of the leisure and hospitality sector of the Mahindra Group.

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M&M moves higher after robust tractor sales
Oct 03,2016

The company announced the monthly sales volume data during market hours today, 3 October 2016.

Meanwhile, the S&P BSE Sensex was up 323.63 points or 1.16% at 28,189.59.

On BSE, so far 62,000 shares were traded in the counter as against average daily volume of 72,528 shares in the past one quarter. The stock hit a high of Rs 1,450.50 and a low of Rs 1,402 so far during the day. The stock had hit a record high of Rs 1,508.80 on 9 August 2016. The stock had hit a 52-week low of Rs 1,092 on 12 February 2016. The stock had underperformed the market over the past one month till 30 September 2016, sliding 2.13% compared with 1.68% fall in the Sensex. The scrip had also underperformed the market in past one quarter, declining 1.61% as against Sensexs 3.21% rise.

The large-cap company has equity capital of Rs 310.55 crore. Face value per share is Rs 5.

Mahindra & Mahindras (M&M) domestic tractor sales rose 70% to 29,035 units in September 2016 over September 2015. Exports rose 48% to 1,527 units in September 2016 over September 2015.

Separately, M&M announced on Saturday, 1 October 2016 that its auto sales rose 8% to 46,130 units in September 2016 over September 2015. Domestic sales rose 7.18% to 42,545 units in September 2016 over September 2015. Exports increased by 14% to 3,585 units in September 2016 over September 2015.

M&Ms net profit rose 12.4% to Rs 955.21 crore on 12.3% growth in net sales to Rs 10898.08 crore in Q1 June 2016 over Q1 June 2015.

M&M enjoys a leadership position in tractors and utility vehicles in India.

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