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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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Moodys: Shift in US policies post elections could hit Asias high value manufacturing
Sep 23,2016

Moodys Investors Service says that the credit implications for Asia Pacific sovereigns of a potential shift in US (Aaa stable) policies after the election would materialize through changes in trade and investment if the next US administration adopts less proactive foreign engagement over time.

Moodys report points out that US policies under the next administration could range from a continuation of the status quo to a gradual retrenchment from trade and investment ties and curbs on immigration.

In general, the credit implications are likely to be limited. For instance, Asia Pacific sovereigns direct exposure to a potential slowdown in US imports is generally small. However, Asian economies whose exports to the US are focused on high value-added manufacturing products are more vulnerable to policies that disincentivized foreign sourcing of business services.

In this respect, Moodys says that Malaysia (A3 stable), Taiwan (Aa3 stable) and Korea (Aa2 stable) would be most vulnerable to efforts to repatriate high value-added manufacturing jobs. And, India (Baa3 positive) and the Philippines (Baa2 stable) would be exposed to any policies that discourage US businesses from foreign sourcing of services.

Moodys also says that over a longer period of time, a more insular climate in the US could crimp foreign direct investment flows, as expansion of production facilities refocus on domestic locations. However, the very small stock of US manufacturing Foreign Direct Investment in APAC implies negligible exposure in this respect.

Meanwhile remittances to Asia could weaken if the US tightened immigration rules. However, the Philippines (Baa2 stable) and Vietnam (B1 stable) whose remittances receipts from the US are largest in relation to the size of their economies also run current account surpluses that would provide buffers against any marked weakening in remittances inflows.

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The Ramco Cements scales record high after bulk deal
Sep 23,2016

Meanwhile, the S&P BSE Sensex was down 29.08 points, or 0.1%, to 28,744.05

Bulk deal boosted volume on the scrip. On BSE, so far 10.78 lakh shares were traded in the counter, compared with average daily volume of 16,317 shares in the past one quarter. The stock hit a high of Rs 622.80 in intraday trade so far, which is record high for the counter. The stock hit a low of Rs 609.30 so far during the day. The stock hit a 52-week low of Rs 315.05 on 28 September 2015. The stock had outperformed the market over the past 30 days till 22 September 2016, rising 8.53% compared with 2.54% rise in the Sensex. The scrip also outperformed the market in past one quarter, rising 11.78% as against Sensexs 9% rise.

The large-cap company has an equity capital of Rs 23.81 crore. Face value per share is Re 1.

The Ramco Cements net profit rose 57.12% to Rs 155.93 crore on 2.6% increase in total income to Rs 973.95 crore in Q1 June 2016 over Q1 June 2015.

Chennai-based The Ramco Cements (formerly Madras Cements) makes Portland cement. The company also produces ready mix concrete and dry mortar products, and operates one of the largest wind farms in the country.

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BCL Enterprises announces resignation of director
Sep 23,2016

BCL Enterprises announced that Sushil Kumar Sharda, Director of BCL Enterprises (the Company) has resigned from the Board of Directors of the Company due to some pre-occupancy w.e.f. 23 September 2016.

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Tata Investment Corporation announces resignation of director
Sep 23,2016

Tata Investment Corporation announced that:

- Amit Chandra, an Independent Director of the Company has resigned from his Directorship with effect from 22 September 2016, owing to his other pressing commitments.

- The Board of Directors place on record their sincere appreciation of Chandras valuable association and the significant contribution made by him to the Company as a Director and Committee member during his tenure.

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Reliance Defence extends gains after winning patrol vessels building order
Sep 23,2016

Meanwhile, the S&P BSE Sensex was down 13.59 points, or 0.05%, to 28,759.54.

More than usual volumes were traded on the counter. On BSE, so far 8.42 lakh shares were traded in the counter, compared with average daily volume of 6.93 lakh shares in the past one quarter. The stock hit a high of Rs 62.70 and a low of Rs 61 so far during the day. The stock hit a 52-week high of Rs 114 on 28 December 2015. The stock hit a 52-week low of Rs 52.65 on 12 February 2016. The stock had underperformed the market over the past one month till 22 September 2016, falling 8.08% compared with Sensexs 2.81% gains. The scrip also underperformed the market in past one quarter, declining 3.64% as against Sensexs 7.5% gains.

The mid-cap company has equity capital of Rs 736.21 crore. Face value per share is Rs 10.

Reliance Defence and Engineering had risen 3.14% to Rs 60.85 yesterday. 22 September 2016 after the company clarified that it has emerged as the lowest bidder to build 14 fast patrol vessels for the Indian Coast Guard (ICG). The clarification was issued with respect to reports stating that the company has won bid to build 14 fast patrol vessels. The approximate order value is Rs 920 crore, Reliance Defence and Engineering said. The clarification was issued during market hours yesterday, 22 September 2016. The company said that appropriate disclosures will be made as and when the agreement is executed with the Indian Coast Guard, Ministry of Defence.

Reliance Defence & Engineering reported net loss of Rs 134.50 crore in Q1 June 2016, lower than net loss of Rs 167.27 crore in Q1 June 2015. Reliance Defence & Engineerings net sales dropped 35.1% to Rs 68.93 crore in Q1 June 2016 over Q1 June 2015.

Reliance Defence & Engineering (formerly Pipavav Defence and Offshore Engineering Company) is into building defence warships.

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Emerald Leasing Finance And Investment Company shifts registered office
Sep 23,2016

Emerald Leasing Finance And Investment Company announced that the registered office of the Company is shifted from M-63, Third Floor, Lajpat Nagar, New Delhi - 110024 to 59, First Floor, Uday Park, Gautam Nagar New Delhi - 110049 with effect from 15 September 2016.

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Andhra Pradesh Tanneries announces resignation of director
Sep 23,2016

Andhra Pradesh Tanneries announced that Jehangir Hirji Cawasji Jehangir has resigned as Director of the Company with effect from 09 August 2016.

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Health Ministry to launch n++Mission Parivar Vikasn++ in 145 High Focus districts for improved family planning services
Sep 23,2016

Ministry of Health and Family Welfare will soon launch n++Mission Parivar Vikasn++ in 145 high focus districts having the highest total fertility rates in the country. These 145 districts are in the seven high focus, high TFR states of Uttar Pradesh, Bihar, Rajasthan, Madhya Pradesh, Chhattisgarh, Jharkhand and Assam that constitute 44% of the countrys population. The main objective of Mission Parivas Vikas will be to accelerate access to high quality family planning choices based on information, reliable services and supplies within a rights-based framework.

These 145 districts have been identified based on total fertility rate and service delivery (PPIUCD and Sterilization performance) for immediate, special and accelerated efforts to reach the replacement level fertility goals of 2.1 by 2025. Recent data suggests that these 145 districts have TFR of more than/equal to 3.0 (56% of the 261 districts in the 7 HFS) and are home to 28% of Indias population (about 33 Crores). However, only 22% of Indias protected couples and 40% of Indias couples with unmet need reside in these districts. These districts also have a substantial impact on maternal and child health indicators as about 25-30% of maternal deaths and 50% of infant deaths occur in these districts Moreover, 115 of these districts (79%) have high percentage of adolescent mothers.

The key strategic focus of this initiative will be on improving access to contraceptives through delivering assured services, dovetailing with new promotional schemes, ensuring commodity security, building capacity (service providers), creating an enabling environment along with close monitoring and implementation.

The Mission will be implemented in all the 145 districts at one go.

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Volumes jump at Dhanuka Agritech counter
Sep 23,2016

Dhanuka Agritech clocked volume of 7.96 lakh shares by 13:20 IST on BSE, a 475.84-times surge over two-week average daily volume of 2,000 shares. The stock declined 3.16% at Rs 686.

The Ramco Cements notched up volume of 10.75 lakh shares, a 69.9-fold surge over two-week average daily volume of 15,000 shares. The stock rose 0.95% at Rs 614.

Elantas Beck India saw volume of 36,000 shares, a 42.31-fold surge over two-week average daily volume of 1,000 shares. The stock rose 1.67% at Rs 1,627.90.

Adlabs Entertainment clocked volume of 8.92 lakh shares, a 28.08-fold surge over two-week average daily volume of 32,000 shares. The stock was locked at 20% upper circuit at Rs 100.20 after Insync Capital Partners LLP bought shares in the company in a bulk deal on NSE yesterday, 22 September 2016. Insync Capital Partners LLP bought 4 lakh shares of Adlabs Entertainment at an average price of Rs 81.84 per share in a bulk deal on NSE yesterday, 22 September 2016. Insync Capital Partners LLP sold 50,000 shares of Adlabs Entertainment at an average price of Rs 81.06 per share in a bulk deal on NSE yesterday, 22 September 2016.

Gujarat Pipavav Port saw volume of 45.01 lakh shares, a 16.22-fold rise over two-week average daily volume of 2.78 lakh shares. The stock gained 1.46% at Rs 172.80.

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Brigade Enterprises gains after MoU with NestAway
Sep 23,2016

The announcement was made during market hours today, 23 September 2016.

Meanwhile, the S&P BSE Sensex was down 6.22 points, or 0.02%, to 28,766.91

On BSE, so far 26,000 shares were traded in the counter, compared with average daily volume of 15,952 shares in the past one quarter. The stock hit a high of Rs 188.95 in intraday trade so far, which is 52-week high for the counter. The stock hit a low of Rs 175.90 so far during the day. The stock hit a 52-week low of Rs 123.50 on 13 January 2016. The stock had outperformed the market over the past 30 days till 22 September 2016, rising 2.85% compared with 2.54% rise in the Sensex. The scrip outperformed the market in past one quarter, rising 12.73% as against Sensexs 9% rise.

The small-cap company has an equity capital of Rs 113.22 crore. Face value per share is Rs 10.

Brigade Enterprises will offer comprehensive rental assistance to all of its existing customers as well as over 10,000 apartments in different stages of construction that are currently in the process of being readied for handover. Brigade Enterprises customers who will now be able to avail a rental default guarantee that assures them timely rent, the company said.

NestAway is Indias largest managed home rental marketplace in seven cities which includes Bangalore, Hyderabad, Pune, Gurgaon, Noida, Delhi and Ghaziabad.

Brigade Enterprises consolidated net profit declined 22.02% to Rs 20.19 crore on 4.88% rise in net sales to Rs 441.33 crore in Q1 June 2016 over Q1 June 2015.

Brigade Enterprises is Brigade Groups flagship company. Brigade Group was established in 1986, with property development as its main focus.

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Bharat Financial Inclusion gains after opening of QIP issue
Sep 23,2016

The announcement was made after market hours yesterday, 22 September 2016.

Meanwhile, the S&P BSE Sensex was down 15.98 points or 0.02% at 28,767.76.

More than usual volumes were witnessed on the counter. On BSE, so far 8.34 lakh shares were traded in the counter as against average daily volume of 2.24 lakh shares in the past one quarter. The stock hit a high of Rs 854.35 and a low of Rs 819.10 so far during the day. The stock had hit a 52-week high of Rs 938.75 on 29 July 2016. The stock had hit a 52-week low of Rs 373.20 on 29 September 2015. The stock had outperformed the market over the past one month till 22 September 2016, gaining 8.42% compared with Sensexs 2.81% gains. The scrip also outperformed the market in past one quarter, gaining 18.01% as against Sensexs 7.5% gains.

The mid-cap company has equity capital of Rs 127.81 crore. Face value per share is Rs 10.

Bharat Financial Inclusion said that the capital raising committee of the board of directors at a meeting held on 22 September 2016 approved the opening of the offer of the proposed qualified institutions placement (QIP) of equity shares aggregating Rs 750 crore on 22 September 2016. The floor price of the offer was fixed at Rs 769.95 per share. The company may at its discretion offer a discount of up to 5% on the floor price in the offer.

Bharat Financial Inclusion said that the meeting of the capital raising committee of the board of directors will be held on 27 September 2016 to consider and approve the issue price for QIP.

Separately, Bharat Financial Inclusion announced after market hours yesterday, 22 September 2016, that the company issued commercial papers for an aggregate amount of Rs 100 crore on 22 September 2016, which have been rated A1+ by a leading rating agency. Instruments with A1+ rating are considered to have a very strong degree of safety regarding timely payment of financial obligations. Such instruments carry the lowest credit risk.The aggregate commercial papers outstanding as on date is Rs 450 crore.

Bharat Financial Inclusions net profit surged 285.7% to Rs 235.91 crore on 46.5% increase in total income to Rs 414.12 crore in Q1 June 2016 over Q1 June 2015.

Bharat Financial Inclusion is among the largest microfinance companies in India.

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Brigade Group signs MoU with rental solutions provider NestAway
Sep 23,2016

Brigade Group signed a Memorandum of Understanding with NestAway, a premier rental solutions provider to become the first builder in India to address the commonly-faced rental concerns of its customers on exclusive basis.

Through this collaboration, Brigade Group will offer comprehensive rental assistance to all its existing customers as well as 10000 apartments in different stages of construction that are currently in the process of being readied for handover. Brigade customers will now be able to avail of a rental default guarantee that assures them timely rent.

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Shiva Granito Export to hold board meeting
Sep 23,2016

Shiva Granito Export will hold a meeting of the Board of Directors of the Company on 1 October 2016, to Consider & Approve Appointment and Resignation of Company Secretary of the Company.

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Suryoday Allo-Metal Powders to hold AGM
Sep 23,2016

Suryoday Allo-Metal Powders announced that the Annual General Meeting (AGM) of the company will be held on 30 September 2016.

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Great Eastern Shipping Company provides update on subsidiary
Sep 23,2016

Great Eastern Shipping Company announced the cessation of The Great Eastern Shipping Co. London (GESCO London), a wholly owned subsidiary of the Company from the Companies Register in UK.

The Companies House, UK has now notified that GESCO London has been dissolved with effect from 30 August 2016.

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