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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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KDDL gets ratings assigned for various debt facilities
Jan 07,2017

KDDL announced that CRISIL has assigned the credit rating for a Long Term Bank Facilities as CRISIL BBB-/Stable, for Short Term Bank Loan facilities as CRISIL A3 and for Fixed Deposits programme as FA-/Stable (reaffirmed).

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KDDL gets ratings assigned for various debt facilities
Jan 07,2017

KDDL announced that CRISIL has assigned the credit rating for a Long Term Bank Facilities as CRISIL BBB-/Stable, for Short Term Bank Loan facilities as CRISIL A3 and for Fixed Deposits programme as FA-/Stable (reaffirmed).

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Speciality Restaurants opens Sweet Bengal confectionery store in Mumbai
Jan 07,2017

Speciality Restaurants announced that the Company has opened a new Sweet Bengal confectionery located at Shop Nos. 4 & 5, Oshiwara Lotus Co-operative Housing Society Limited, Building No. 12, Plot No. 50, MHADA Complex, Oshiwara, Andheri West, Mumbai - 400053 with effect from 07 January 2017.

Accordingly, as of 07 January 2017, the total number of restaurants and confectionaries of the Company are 107 (including 25 franchise restaurants) and 18 respectively.

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Speciality Restaurants opens Sweet Bengal confectionery store in Mumbai
Jan 07,2017

Speciality Restaurants announced that the Company has opened a new Sweet Bengal confectionery located at Shop Nos. 4 & 5, Oshiwara Lotus Co-operative Housing Society Limited, Building No. 12, Plot No. 50, MHADA Complex, Oshiwara, Andheri West, Mumbai - 400053 with effect from 07 January 2017.

Accordingly, as of 07 January 2017, the total number of restaurants and confectionaries of the Company are 107 (including 25 franchise restaurants) and 18 respectively.

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Agenda for board meeting of Vora Constructions
Jan 07,2017

Vora Constructions announced that a meeting of the Board of Directors of the Company will be held on 14 January 2017, inter alia, to consider the following:

1. To change the Registered Office of the Company.

2. To consider raising fund for working capital requirements and mode of raising funds.

3. To review the existing business activities and to consider enhancement of NBFC activities.

4. To consider appointment of Company Secretary for the Company.

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Agenda for board meeting of Vora Constructions
Jan 07,2017

Vora Constructions announced that a meeting of the Board of Directors of the Company will be held on 14 January 2017, inter alia, to consider the following:

1. To change the Registered Office of the Company.

2. To consider raising fund for working capital requirements and mode of raising funds.

3. To review the existing business activities and to consider enhancement of NBFC activities.

4. To consider appointment of Company Secretary for the Company.

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The Automotive Sector Can Transform South Asia Economically
Jan 07,2017

A new World Bank study that examines a range of factors affecting South Asian++s competitiveness in the automotive sector, notes that the region has the potential for greater global competitiveness in many different sectors but must pursue multiple policies to perform as well as other comparable regions, such as East Asia.

With more than 19 million jobs connected directly and indirectly to the automotive sector, India is the South Asian leader in that industry. (Pakistan follows with 2.5 million automotive-related jobs.) India-based auto parts manufacturers have acquired the technical and managerial skills from leading original equipment manufacturers (OEMs) established in India and a growing ability to meet the needs of disparate and discerning customers in competitive export markets. Increased opportunity to co-locate with their global customers for the right reasons will deepen these skills.

India has done very well in the past decade but has a distance to travel before it can fully contend with other major global exporters in the auto sector. It is the worlds sixth largest auto producer by volume, but it owns less than 1 percent of global export markets compared with more than 3 percent for China, 4.5 percent for Korea and 7 percent for Mexico. The average auto firm in India exported only 5 percent of its total sales, compared to 16 percent in China, said Priyam Saraf, Lead Author of the automotive case study.

A few leading global automotive parts manufacturers have already moved their research and development (R&D) centers to India, such as Bosch, which conducts most of its global R&D with 15,000 workers in Bangalore. Others- including BMW, Mercedes, Renaultn++\Nissan, Volvo, GM, Ford and Honda- are gaining the confidence to do the same soon. As they do, there is likely to be further growth and sophistication in the countrys related electronics, machining and tooling sectors, as well.

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Vertex Securities to announce December quarter results
Jan 07,2017

Vertex Securities announced that a Meeting of the Board of Directors of the Company will be held on 28 January 2017, inter alia, to consider and approve the unaudited financial results of the Company for the quarter ended 31 December 2016.

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RBI imposes penalty on Lakshmi Vilas Bank
Jan 07,2017

Lakshmi Vilas Bank announced that the Reserve Bank of India (RBI) has imposed penalty amounting to Rs. 3 crore, in exercise of powers conferred under Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulations Act, 1949 for the contraventions of various guidelines/directions of the RBI in respect of opening of current accounts without obtaining No-objection Certificate (NOC), extending bill discounting facilities to non-constituents and walk-in customers and non-adherence to KYC norms.

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Agenda for board meeting of M3 Global Finance
Jan 07,2017

M3 Global Finance announced that a meeting of Board of Directors of the company will be held on 11 January 2017 to discuss the following agenda -

Appointment of Auditors
Increase in Authorised Capital and amendment of MoA
Considering proposal of fund raising through preferential allotment
Change in registered office
Considering approval of an ESOP scheme.

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JM Financial to announce Q3 and 9M results
Jan 07,2017

JM Financial announced that a meeting of the Board of Directors is convened on 23 January 2017, inter alia, to consider and approve the Standalone and Consolidated Unaudited Financial Results of the Company for the third quarter and nine months ended 31 December 2016.

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Aurobindo Pharma announces plans to acquire Generis Farmaceutica SA in Portugal
Jan 07,2017

Aurobindo Pharma announced that its wholly owned step down subsidiary - Agile Pharma B.V, Netherlands has entered into an agreement to acquire 100% shareholding in Generis Farmaceutica S.A., a Portuguese Pharmaceutical company engaged in the manufacture and marketing of pharmaceutical products in Portugal. The cost of acquisition is Euro 135 million. The acquisition includes the manufacturing facility in Amadora, Portugal, which has the capacity to manufacture 1.2 billion tablets/ capsules/ sachets annually.

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Board of Elnet Technologies to consider Q3 results
Jan 07,2017

Elnet Technologies announced that a meeting of the Board of Directors of the Company will be held on 23 January 2017 to consider and take on record the Unaudited Financial Results of the Company for the third quarter ended 31 December 2016 amongst other things.

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Yuken India to consider Q3 and 9M results
Jan 07,2017

Yuken India announced that the Board Meeting of the Company is scheduled to be held on 04 February 2017, inter alia, to consider and approve the un-audited financial results for the quarter and nine months ended 31 December 2016.

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The IMF will assess a range of financial systems in 2017: large ones such as China and Japan
Jan 07,2017

In 2017, IMF will assess financial stability of Indian economy jointly with the World Bank. Others Economies whose financial stability the IMF will assess during 2017 jointly with the World Bank include Bulgaria, China, Guyana, Indonesia, Saudi Arabia, Turkey, Zambia. However, Economies whose financial stability the IMF will assess during 2017 include-Bahrain, Japan, Luxembourg, Netherlands, New Zealand, and Spain.

The Financial Sector Assessment Program remains the IMFs principal tool for assessing countries financial stability. It identifies weaknesses in a countrys financial system that could threaten its stability, as well as strengths that make the system resilient. The IMF tailors country stability assessments to analyze issues of particular interest or concern in each country.

In 2017, IMF teams of experts will focus on systemic risks, the health of banks, and contagion and spillover risks. For each economy, the IMF will make policy recommendations about how to:

n++Strengthen the monitoring of risks to the financial system as a whole

n++Improve financial oversight and the macroprudential framework for financial system safety, and

n++Prepare for stressful financial conditions

We have this handy factsheet that explains the why and how of our financial assessments. You can also read more about why we assess the 29 systemically important financial sectors every five years.

Some highlights for countries under review in 2017 include:

China

Since the global financial crisis, Chinas growth has relied increasingly on credit, especially in the corporate sector, including state-owned enterprises, and in recent months also on mortgage lending. Tensions between sustaining growth and the need to contain indebtedness, together with certain financial sector innovations, have led to increased financial sector complexity and the risk of gaps in supervision. The IMF will examine these issues from a systemic point of view.

Indonesia

Financial conglomerates play a dominant role in the financial system and the economy, and account for 70 percent of the assets of financial institutions. The IMF will look closely at the oversight of financial conglomerates, and seek to identify areas for improvement in the newly implemented integrated supervisory framework, and the recently adopted law on crisis management and resolution.

Japan

Since the 2012 assessment, the profitability of financial institutions domestic operations has weakened. This has prompted large banks and insurers to expand overseas in a search for higher yields, and smaller banks to increase their exposure to real estate and small and medium-sized enterprises. Against this background, the IMF will assess vulnerabilities associated with the international expansion of banks and insurers, as well as longer-term prospects for the financial sector in the context of demographic changes and low growth.

Luxembourg

Home to a key international central securities depository, Luxembourg has the worlds second largest investment fund industry, and the profitability of its banking industry is tied to the general health of these funds. To address some of the systemic vulnerabilities, the IMF will use stress tests and spillover analysis to assess the ability of Luxembourgs financial institutions to absorb liquidity and/or solvency shocks.

Saudi Arabia

An extended period of low oil prices is affecting the Saudi economy. Although the bank-dominated financial sector has so far been resilient, this episode is an opportunity to complete the financial reform agenda and make improvements in the functioning of the interbank market that would also help banks diversify their funding sources over the longer term. These are the key issues the IMF will explore with officials.

Spain

The assessment will look at progress and improvements made since the crisis. It will tackle banks ability to adjust to low profits due to their business models, and their ability to manage the post-crisis recovery. The IMF will also examine the emerging needs of the institutional framework, and apply enhanced methods to capture cross-border financial shocks, and account for the linkages between the economy and the financial system as a whole.

Zambia

Against a backdrop of declining economic growth due to sharply lower copper prices and an unsustainable fiscal deficit, the IMF will focus on how to maintain financial stability, including the adequacy of supervisory resources. It will also examine the adherence to international norms of the legal and regulatory framework for financial sector oversight.

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