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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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Trident wins two National awards for Excellence in Water Management 2016
Sep 28,2016

Trident announced that the Company has been conferred with the following National awards for Excellence in Water Management 2016 in Within the Fence category, presented by Confederation of Indian Industry (CII):

1. The Winner award to Home Textiles Division.

2. Noteworthy Water Efficient Unit award to Paper & Chemical Division.

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Motherson Sumi Systems gains after RBI hikes FPIs investment limit
Sep 28,2016

The Reserve Bank of India (RBI) made the announcement after market hours yesterday, 27 September 2016.

Meanwhile, the BSE Sensex was up 46.99 points, or 0.17%, to 28,270.69.

On BSE, so far 3,568 shares were traded in the counter, compared with average daily volume of 2.73 lakh shares in the past one quarter. The stock hit a high of Rs 318.55 and a low of Rs 317 so far during the day. The stock hit a 52-week high of Rs 358.55 on 2 August 2016. The stock hit a 52-week low of Rs 206.20 on 25 February 2016. The stock had underperformed the market over the past 30 days till 27 September 2016, falling 3.22% compared with 1.15% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 13.28% as against Sensexs 5.55% rise.

The large-cap company has equity capital of Rs 140.35 crore. Face value per share is Re 1.

RBI notified that foreign institutional investors (FIIs)/registered foreign portfolios investors (RFPIs) can under the portfolio investment scheme (PIS) now invest upto 30% of the paid up capital of Motherson Sumi Systems. The purchases could be made through primary market and stock exchanges. RBI stated that the companys board of directors and its shareholders approved enhancing the limit for the purchase of its equity shares by FIIs/RFPIs.

Motherson Sumi Systems consolidated net profit rose 15.8% to Rs 439.36 crore on 16.1% increase in net sales to Rs 10352.33 crore in Q1 June 2016 over Q1 June 2015.

Motherson Sumi Systems is one of the worlds fastest growing specialized automotive component manufacturing company for original equipment manufacturers (OEMs). It is a joint venture between Samvardhana Motherson Group and Sumitomo Wiring Systems (Japan).

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Proposed Multi-Modal Terminal at Haldia Holds Huge Cargo Potential
Sep 28,2016

Even before the construction of Multi-Modal terminal at Haldia in West Bengal kicks off, it has received a commitment of 5.92 million tons (MT) per annum of cargo volume by the year 2018 from the Industry, indicating huge cargo potential of the proposed terminal. Fly ash is expected to be the major cargo with a commitment of 3.8 MT followed by vegetable oil (0.63 MT), cement (0.36 MT), among others.

In a series of consultations with Inland Waterways Authority of India (IWAI) held at Haldia last month, various industries, firms, shipping lines, cargo operators, shippers, and manufacturers committed transportation of cargo like Fly ash, Edible oil, Vegetable oil, Gypsum etc. by 2018, the year Haldia terminal is ready for operation.

Earlier, a workshop on issues pertaining to the opportunities and prospects of inland waterways-cargo potential for IWT terminal at Haldia was held in March, 2015 in which various shippers, freight forwarders, vessel operators etc. participated. The participants had indicated that the immediate demand for transportation was about 1.8 MT per annum for Fly Ash and 1.7 MT per annum for Edible oil, if Haldia Multi-Modal Terminal was constructed.

In June, 2016, M/s HPC & Uniconsult, Germany (Consultants engaged for IWT Sector development strategy and business development study for the Jal Marg Vikas Project) forecasted a cargo potential of 7.95 MT for the year 2020.

Haldia terminal is one of the three Multi-Modal terminals being constructed under the World Bank assisted Jal Marg Vikas Project, being implemented by Inland Waterways Authority of India (IWAI), Ministry of Shipping, Government of India for the capacity augmentation of National Waterway-1 i.e. on River Ganga from Haldia-Varanasi for navigation.

Government is developing National Waterway-1 (NW-1) under the Jal Marg Vikas Project, with assistance from the World Bank at an estimated cost of Rs. 4,200 crore. The project would enable commercial navigation of vessels with capacity of 1500-2,000 DWT Tonnage.

Earlier tender for Phase-I of the terminal was published on 3rd March,2016. Six firms submitted their technical and financial proposals, and the evaluation is in progress.

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Motherson Sumi Systems in focus after RBI hikes FPIs investment limit
Sep 28,2016

Motherson Sumi Systems will be watched after the Reserve Bank of India (RBI) allowed foreign investors to hike their stake in the company to up to 30% from 24% earlier. RBI made the announcement after market hours yesterday, 27 September 2016.

Karur Vysya Bank said it has sought shareholders approval for a proposal of splitting each share into five shares (5-for-1). Shareholders will vote for the proposal through a postal ballot process. The announcement was made after market hours yesterday, 27 September 2016.

RBL Bank said it raised Rs 330 crore from the UK-based development finance institution, CDC Group Plc (CDC), through Basel III compliant Tier II capital. The Tier II debt will strengthen the capital base of the bank, which in turn will support its businesses such as SME lending, agribusiness financing and financial inclusion. The infusion will also help the bank expand to new regions within India, the bank said. The announcement was made after market hours yesterday, 27 September 2016.

Mahindra and Mahindra (M&M) said it agreed to acquire 1.49 crore equity shares of Mahindra Two Wheelers Europe Holdings S.a.r.l from its subsidiary Mahindra Two Wheelers for 26.3 million Euros. The announcement was made after market hours yesterday, 27 September 2016.

Piramal Enterprises said that the administrative committee of the board of directors will be held on Friday, 30 September 2016 to consider the issuing secured non-convertible debentures (NCDs) aggregating to Rs 500 crore on private placement basis. The announcement was made after market hours yesterday, 27 September 2016.

MindTree announced the availability of the next generation of ATLAS, its output-based managed services framework. This new generation allows users to have greater transparency and a holistic view into the interworking of their application infrastructure, including performance metrics, optimization and analytics. The announcement was made after market hours yesterday, 27 September 2016.

Jindal Stainless said it received approval from Orissa Industrial and Infrastructure Development Corporation (IDCO) vide its letter dated 24 September 2016 conveying its no objection for effecting the transfer or right to use of the land on which the hot strip mill and the coke plant of the company are located, to Jindal United Steel and Jindal Coke, respectively. The announcement was made after market hours yesterday, 27 September 2016.

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iStreet Network recognised among 10 fastest growing retail company
Sep 27,2016

iStreet Network announced that the Company has been selected as among the 10 fastest growing retail Company as published in the Insight Success magazine survey.

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SML ISUZU gets revision in credit rating
Sep 27,2016

SML ISUZU announced that ICRA has upgraded the long term rating and reaffirmed the short term rating of the Company -

Long term rating (Working Capital facility line of credit) - ICRA AA (Upgraded from ICRA AA-)

Short term rating (Short term bank facilities and CP/ STD Programme) - ICRA A1+ (Reaffirmed)

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Voltas announces cessation of nominee director
Sep 27,2016

Voltas announced that the Company has received intimation from Life Insurance Corporation of India (LIC) informing about resignation of Usha Sangwan as their Representative on Voltas Board, which was accepted by the Directors at the Board Meeting held on 27 September 2016. Accordingly, Usha Sangwan ceases to be a Director of Voltas with effect from 27 September 2016.

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Brahmaputra Infrastructure secures orders worth Rs 152 crore
Sep 27,2016

Brahmaputra Infrastructure has secured orders worth Rs 152 crore. These include construction of Rail over Bridge each at Amritsar and Barnala in the State of Punjab on EPC Mode.

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Board of Balaji Telefilms approves composite scheme of arrangement
Sep 27,2016

Balaji Telefilms announced that the Board of Directors of the Company at its meeting held on 27 September 2016 has considered and approved a composite scheme of arrangement between the Company and its wholly owned subsidiaries viz. Balaji Motion Pictures and Bolt Media and their respective shareholders and creditors. The scheme envisages -

The demerger of the film production undertaking Balaji Motion Pictures and vesting the same in the Company, and consequential reduction in the share capital of Balaji Motion Pictures.

The amalgamation of Bolt Media with the Company.

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Inditrade Capital announces plans to hike stake in JRG DMCC
Sep 27,2016

Inditrade Capital has taken an in-principle decision to increase its existing shareholding in JRG International Brokerage DMCC (n++JRG DMCCn++), a company registered with the Dubai Multi Commodities Centre, upto an aggregate of 51% of the paid up capital of JRG DMCC, within a period of 24 months subject to the relevant regulatory approvals (both in India and UAE), if any.

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State Bank of India allots ATI Basel III compliant NCDs
Sep 27,2016

State Bank of India announced that the Bank on 27 September 2016 has issued and allotted 25,000 AT1 Basel III compliant Non- convertible, Perpetual, Subordinated, Unsecured Debt instrument in the nature of debenture, of face value Rs. 10,00,000/- each at par through private placement bearing coupon @ 8.75% p.a. payable annually with call option after 5 years or any coupon payment date thereafter aggregating to Rs.2,500 crore (Rupees two thousand five hundred crore) in second tranche.

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Bharat Financial Inclusion announces closure of QIP issue
Sep 27,2016

Bharat Financial Inclusion announced the closure of its Qualified Institutional Placement (QIP) on 27 September 2016. The QIP, which was launched with the issue size of Rs. 750 crore (approximate), generated a strong demand and was multiple times oversubscribed.

Bharat Financial Inclusions networth of Rs. 1,627 crore as of 30 June 2016 will cross Rs. 2,356 crore (approximate) post the QIP.

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Real Strips announces resignation of director
Sep 27,2016

Real Strips announced that Jitendra Mamtora, Independent Director of the Company tendered his resignation letter dated 27 September 2016 due to his preoccupation.

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Arex Industries fixes record date for final dividend
Sep 27,2016

Arex Industries has declared final dividend at 30%, i.e. Rs. 3.00 per share for the year ended on 31 March 2016, payable to the members whose names appear in the Register of members as on 27 September 2016.

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Texmaco Rail & Engineering announces cessation of Chairman & Director
Sep 27,2016

Texmaco Rail & Engineering announced that on completion of his tenure of appointment, Ramesh Maheshwari is not continuing as Executive Vice Chairman & Director of the Company w.e.f. close of business on 25 September 2016.

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