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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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GST, Bankruptcy Laws Will Emerge Facilitator For Inbound & Outbound M&A: PHD Chamber
Nov 22,2016

Global Investment and Acquisitions Forum 2016 held under joint aegis of PHD Chamber of Commerce and Industry, Corporate Catalyst India and M&A Worldwide, has forecast that with GST and Bankruptcy Laws in place, prospects for mergers and acquisitions both inbound and outbound would grow proportionately in India.

The Forum also felt that India is no longer experimental zone for multi nationals for their operations as it has evolved so much in the last couple of years that global giants have strategies for setting up of their operations in India because of its emerging potentials which promise higher returns on investments.

The unanimous view of the forum was that multi nationals and global giants that would earlier set up representative offices and liaison channels in India as part of their strategy to open up offices in India have moved on to a next phase as per which their strategies are to launch their corporations and begin business with their counterparts in joint venture sector.

This change has come after the new government has come to power with Prime Minister Narendra Modi at the helm of affairs.

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IRB Infra slips after weak Q2 results
Nov 22,2016

The result was announced during trading hours today, 22 November 2016.

Meanwhile, the BSE Sensex was up 157.87 points, or 0.61%, to 25,923.01.

On BSE, so far 4.40 lakh shares were traded in the counter, compared with average daily volume of 3.53 lakh shares in the past one quarter. The stock hit a high of Rs 194.15 and a low of Rs 178.20 so far during the day. The stock hit a 52-week high of Rs 269.30 on 4 January 2016. The stock hit a 52-week low of Rs 178.20 on 22 November 2016. The stock had underperformed the market over the past 30 days till 21 November 2016, falling 23.66% compared with the 8.23% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 19.24% as against Sensexs 7.95% decline.

The mid-cap company has equity capital of Rs 351.45 crore. Face value per share is Rs 10.

IRB Infrastructure Developers is an integrated infrastructure development and construction company with significant experience in toll roads and highways sector.

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Demonetization to help inflation remain under control, interest rates to fall: PHD Chamber
Nov 22,2016

While appreciating the Government efforts to control inflation in the economy vis-a-vis reforms in supply chain, Dr. Mahesh Gupta, President, PHD Chamber of Commerce and Industry said that demonetisation of rupees 500 and 1000 notes would also help prices to remain under control in the coming months.

Good monsoon behaviour and abundant supply of kharif crops coming in the market in the recent months has checked the rise in prices of many commodities, said Dr. Gupta.

The average WPI inflation so far in this financial year stands at around 3% during Apr-Oct 2016 and we are hopeful that inflation will fall below 3 percent in the coming months, he said.

The recent developments has created a good scope for further reduction in repo rate in the forthcoming monetary policy statement scheduled on December 7, 2016.

Repo rate at this juncture should not be more than 6% to give a big push to the economy with the new currency in circulation, said Dr. Gupta.

Reduced rate of interest with benign inflationary expectations would be a major breakthrough for the economy to enter the higher growth path, going forward, said Dr. Gupta.

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Mukta Arts announces launch of Whistling Woods International School of Design
Nov 22,2016

Mukta Arts announced that its subsidiary, Whistling Woods International has launched its latest venture Whistling Woods International School of Design in association with ECV, a leading school of Design in France. The School will offer Indias first full time Degree program in Visual and Communication Design in association with Tata Institute of Social Science.

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Mukta Arts announces launch of Whistling Woods International School of Design
Nov 22,2016

Mukta Arts announced that its subsidiary, Whistling Woods International has launched its latest venture Whistling Woods International School of Design in association with ECV, a leading school of Design in France. The School will offer Indias first full time Degree program in Visual and Communication Design in association with Tata Institute of Social Science.

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A2Z Infra spurts on new order win
Nov 22,2016

The announcement was made during market hours today, 22 November 2016.

Meanwhile, the S&P BSE Sensex was up 175.01 points or 0.68% at 25,940.15

On BSE, so far 1.75 lakh shares were traded in the counter as against average daily volume of 2.48 lakh shares in the past one quarter. The stock hit a high of Rs 35.85 and a low of Rs 33.10 so far during the day. The stock had hit a 52-week high of Rs 51.65 on 1 November 2016. The stock had hit a 52-week low of Rs 16.50 on 12 February 2016.

The small-cap company has equity capital of Rs 129.62 crore. Face value per share is Rs 10.

A2Z Infra Engineering said that a contract has been awarded to the company by Chhattisgarh State Power Transmission Company for construction of 132 kilovolt S/S Bijapur and associated EHV Line on turnkey basis. The aggregate value of the contract is Rs 41.33 crore.

A2Z Infra Engineering reported a net loss of Rs 18.75 crore in Q1 June 2016, lower than net loss of Rs 34.21 crore in Q1 June 2015. Net sales surged 148.5% to Rs 202.70 crore in Q1 June 2016 over Q1 June 2015.

A2Z Infra Engineering (formerly known as A2Z Maintenance & Engineering Services) is a fast growing, fully integrated electrical business group (EBG) in India catering to the needs of domestic and international power sector clients in building distribution and transmission infrastructure.

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Aditya Birla Nuvo intimates of workmen strike at Rishra unit
Nov 22,2016

Aditya Birla Nuvo announced that the Linen Yarn business unit had taken disciplinary measure to control the unauthorized absenteeism of the workers. As a consequence, the workmen of Linen Yarn business unit at Jaya Shree Textiles Division of the Company at Rishra, Hooghly, West Bengal, have gone on illegal strike from 19 November 2016, 2nd shift onwards.

The Jaya Shree Textiles Division at Rishra is engaged in the businesses of manufacturing of Linen Yarn, Linen Fabrics, Worsted Yarn and Wool Tops.

Further inform that the Linen Yarn business unit accounted for around 23% of the total turnover of Jaya Shree Textiles Division of the Company during H1FY17. The turnover of Jaya Shree Textiles Division of the Company constituted about 26% of the total turnover of the Company during H1FY17. As such the total impact of the said development on the overall operations of the Company shall not be material. Excepting the Linen Yarn business unit, the working at the remaining manufacturing units at Jaya Shree Textiles Division is normal.

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A2Z Infra Engineering bags contract valued at Rs 41.33 crore
Nov 22,2016

A2Z Infra Engineering announced that a Contract has been awarded to the Company by Chhattisgarh State Power Transmission Company vide letter dated 18 November 2016 for Construction of 132 KV S/S Bijapur and associated EHV Line on turnkey basis.

The aggregate value of the said Contract is Rs 41.33 crore.

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Board of Wheel & Axle Textiles to fix record date for payment of interim dividend
Nov 22,2016

Wheel & Axle Textiles announced that a meeting of Board of Directors of the Company shall be held on 28 November 2016, inter alia, to consider and fix the record date in respect of payment of interim dividend for the year 2016-17.

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Airport Expansion, Enhanced Regional Air Connectivity & Expansion in Air Traffic is top Priority of Govt.: Ashok Gajapathi Raju
Nov 22,2016

Minister of Civil Aviation, Ashok Gajapathi Raju Pusapati, remarked that with new civil aviation policy in place and other associated reforms accompanying it, the civil aviation sector would emerge to serve the un-served at affordable pace.

Minister of Civil Aviation, Ashok Gajapathi Raju Pusapati reassured the Indian civil aviation industry, emphasizing that the government of the day is exploring all possibilities for capacity expansion of leading airports in the country as well doing its best to make sure that the regional air connectivity is accomplished as per its UDAAN initiative.

The Minister also stressed that though the domestic civil aviation industry has been growing at a rate of more than 20% in the last few years, admitting that higher passenger growth in civil aviation sector is still a challenge for the government which could be won with addition of capacities in Indias leading airports.

Ashok Gajapathi Raju Pusapati also emphasized that the cargo sector of Indian civil aviation though has developed but needed further expansion and development since the industry as such has been growing over 20% per annum and hoped that this growth rate would even exceed in times to come in view of Indias economic potential with its high appetite for higher growth.

Minister of State, Ministry of Civil Aviation, Mr. Jayant Sinha asked civil aviation industry to grow in such a manner so that its passenger traffic, currently estimated at about 150 million for domestic and overseas sector multiplies manifold and catches on pace with the air traffic of China which presently is calculated at 500 million per annum.

In order to achieve this objective, the ministry has been adopting three pronged strategy under its UDAAN commitment which includes expansion of airports capacities, ensure regional connectivity and equip the air passenger with better level of satisfaction and experience under its Air Sewa initiative, emphasized the minister adding that the government would do all possible to transform the civil aviation sector.

Secretary, Civil Aviation, Rajiv Nayan Choubey, reiterated the government commitment for higher growth of civil aviation sector with all possible governments initiatives in partnership spirit, adding that by December 2016 dozen of schedule commercial operations could begin to connect small towns in the country under its regional connectivity drive.

Minister, Government of Ireland, Pat Breen emphasized that India and Ireland should have stronger partnership to expand Indias civil aviation sector as his country is one of the global leaders in this sector, particularly on leasing out operations in which Ireland has already established its hegemony.

Chairman Civil Aviation Committee, PHD Chamber, K Narayana Rao proposed to the government to bring in civil aviation sector under priority lending scheme of the government, especially for acquiring smaller air crafts for enhanced regional air connectivity.

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Lupin allots equity shares
Nov 22,2016

Lupin announced that the Allotment Committee of Directors at its meeting held on 22 November 2016 has allotted 94119 fully paid up equity shares of Rs. 2/- each. These shares have been allotted upon exercising of options granted to the employees under Stock option plans of the Company.

In view of the above, the issued and paid up capital of the Company has been increased to Rs. 90,26,74,272 consisting 45,13,37,136 equity shares of Rs. 2/- each.

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Captain Polyplast fixes record date for interim dividend
Nov 22,2016

Captain Polyplast has fixed 02 December 2016 as the Record Date for the purpose of Payment of Interim Dividend for the year 2016-17.

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Vedanta gains after board OKs fund raising
Nov 22,2016

The announcement was made during market hours today, 22 November 2016.

Meanwhile, the BSE Sensex was up 154.12 points, or 0.60%, to 25,919.26.

On BSE, so far 8.18 lakh shares were traded in the counter, compared with average daily volume of 11.33 lakh shares in the past one quarter. The stock hit a high of Rs 206.20 and a low of Rs 199.10 so far during the day. The stock hit a 52-week high of Rs 233.65 on 10 November 2016. The stock hit a 52-week low of Rs 58.10 on 12 February 2016. The stock had outperformed the market over the past 30 days till 21 November 2016, falling 3.10% compared with the 8.23% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 13.15% as against Sensexs 7.95% decline.

The large-cap company has equity capital of Rs 296.47 crore. Face value per share is Re 1.

Vedanta announced that it has received boards approval to raise Rs 300 crore through issue of 3,000 secured redeemable non-cumulative non-convertible debentures (NCDs) of face value of Rs 10 lakh each. The tenure of the NCDs is three years and five months from the date of allotment, while date of maturity is 22 April 2020. Crisil has assigned AA-/Stable rating to the said instrument.

In a separate announcement today, 22 November 2016, the company said that the board has approved the appointment of chief financial officer Arjun Kumar GR as a whole-time director of the company and Bhumika Sood as company secretary. The appointments reflect the focus of Vedanta towards empowering its professionals and developing in-house talent, said, Tom Albanese, CEO, Vedanta.

On a consolidated basis, Vedantas net profit rose 17.14% to Rs 1252.13 crore on 4.13% decline in net sales to Rs 15665.64 crore in Q2 September 2016 over Q2 September 2015.

Vedanta is a diversified natural resources company, whose business primarily involves producing oil & gas, zinc - lead - silver, copper, iron ore, aluminium and commercial power. The company has a presence across India, South Africa, Namibia, Australia and Ireland.

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Tirupati Sarjan to build new construction for The Gujarat Cancer & Research Institute
Nov 22,2016

Tirupati Sarjan has been awarded work for New Construction of Hospital Building (Phase - IC) for The Gujarat Cancer & Research Institute at Civil Hospital Campus, Asarwa, Ahmedabad of Rs. 67.46 Crore.

The entire work will be completed within 18 (Eighteen) calendar months from the date of Commencement of work.

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Shoppers Stop provides business update
Nov 22,2016

Shoppers Stop has opened one M.A.C door at Inorbit Mall, Malad, Mumbai.

With the opening of this store, the Company has now 41 M.A.C doors under its operations.

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