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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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Minister of Railways Modifies Senior Citizens Concession Rules
Oct 04,2016

Ministry of Railways has decided to grant concession only to senior citizens of Indian Nationality, permanently residing in India.

It has been clarified that Senior Citizen concession shall not be admissible to the senior citizen of foreign nationals & NRIs.

The revised rule for concession to Senior Citizen should be as under:

Senior Citizen-

Existing Rule: Male Senior Citizen of the age of 60 years and above and 58 years & above in case for women senior citizen.

A Senior Citizen of Indian Nationality, permanently residing in India of the age of 60 years and above for Men Senior citizen and 58 years and above in case of Women Senior Citizen shall only be eligible for concession in passenger fare.

This has been come into effect from 29th September 2016.

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Board of Sai Baba Investment And Commercial Enterprises approves change in registered office
Oct 04,2016

Sai Baba Investment And Commercial Enterprises announced that the Board of Directors of the Company at its meeting held on 03 October 2016, at 12.30 p.m., has approved the shifting of registered office of the Company from Kaasra No. 111, bakarawala Road, Village Mundka, New Delhi - 110 041 to D-50 E., 3rd Floor, KH No-299, Chattarpur Enclave, New Delhi - 110074.

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Board of Tricom India approves change in directorate
Oct 04,2016

Tricom India announced that the Board of Directors of the Company at its meeting held on 03 October 2016, inter alia, has considered and approved following:

1. Appointment of Ratnakar Kulthe as an Independent Director of the Company w.e.f. 03 October 2016.

2. Appointment of Masood Jilani Sheikh as an Independent Director of the Company w.e.f. 03 October 2016.

3. Resignation of Chetna Kothari as a Woman (Non executive-Non Independent) Director of the Company w.e.f. 03 October 2016.

4. Resignation of Paresh Pathak as an Independent Director of the Company w.e.f. 03 October 2016.

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HPL Electric & Power slips on debut
Oct 04,2016

The stock debuted at Rs 190.05, a discount of 5.92% to the initial public offer (IPO) price. So far the stock hit a high of Rs 198 and low of Rs 185.50. On BSE, so far 14.77 lakh shares were traded on the counter.

The initial public offer (IPO) of HPL Electric and Power ended on 26 September 2016. The IPO received bids for 11.64 crore shares and it was subscribed 8.06 times. The price band for the IPO was fixed at Rs 175 to Rs 202 per share.

Ahead of the IPO, the company raised Rs 108.29 crore by selling 53.61 lakh shares to a total of 13 anchor investors. The shares were allotted to the anchor investors at Rs 202 per share, the top end of the Rs 175 to Rs 202 per share price band for the IPO.

The company manufactures electrical appliances, switch-gears, electronic energy meters and electrical protection equipment. The company had the largest market share with 20% in the market for electricity energy meters in India. The company currently manufactures and sells its products under the umbrella brand HPL, which has been registered in India since 1975.

From the IPO proceeds, the company will spend Rs 130 crore towards repayment/ prepayment of certain indebtedness; Rs 180 crore towards funding working capital requirements and remaining for general corporate purpose.

On a consolidated basis, HPL Electric and Power reported net profit of Rs 36.62 crore on net sales of Rs 1116.38 crore in the year ended March 2016.

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CLIO Infotech to hold AGM
Oct 04,2016

CLIO Infotech announced that the 24th Annual General Meeting(AGM) of the company on 30 September 2016.

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Modern India to hold board meeting
Oct 04,2016

Modern India will hold a meeting of the Board of Directors of the Company on 27 October 2016.

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Pricol to hold board meeting
Oct 04,2016

Pricol will hold a meeting of the Board of Directors of the Company on 27 October 2016.

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Kirloskar Oil Engines to hold board meeting
Oct 04,2016

Kirloskar Oil Engines will hold a meeting of the Board of Directors of the Company on 21 October 2016.

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Tech Mahindra to hold board meeting
Oct 04,2016

Tech Mahindra will hold a meeting of the Board of Directors of the Company on 27 October 2016.

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Steel Strips Wheels to hold board meeting
Oct 04,2016

Steel Strips Wheels will hold a meeting of the Board of Directors of the Company on 15 October 2016.

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Dolphin Offshore Enterprises (India) to hold board meeting
Oct 04,2016

Dolphin Offshore Enterprises (India) will hold a meeting of the Board of Directors of the Company on 10 November 2016.

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Naraingarh Sugar Mills to hold board meeting
Oct 04,2016

Naraingarh Sugar Mills will hold a meeting of the Board of Directors of the Company on 3 October 2016.

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Magna Eletrocasting to hold board meeting
Oct 04,2016

Magna Eletrocasting will hold a meeting of the Board of Directors of the Company on 3 November 2016.

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Berger Paints India to hold board meeting
Oct 04,2016

Berger Paints India will hold a meeting of the Board of Directors of the Company on 3 November 2016.

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Timken India to hold board meeting
Oct 04,2016

Timken India will hold a meeting of the Board of Directors of the Company on 28 November 2016.

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