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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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Glenmark Pharma gains after USFDA approval for Tretinoin capsules
Dec 27,2016

The announcement was made during trading hours today, 27 December 2016.

Meanwhile, the BSE Sensex was up 70.88 points, or 0.27%, to 25,877.98.

On the BSE, so far 11,000 shares were traded in the counter, compared with average daily volumes of 58,492 shares in the past one quarter. The stock had hit a high of Rs 900.95 and a low of Rs 883.50 so far during the day.

The stock hit a 52-week high of Rs 993 on 1 November 2016. The stock hit a 52-week low of Rs 671.50 on 12 February 2016.

Glenmark Pharmaceuticals Inc., USA (Glenmark) received final approval from the United States Food & Drug Administration (USFDA) for Tretinoin capsules, 10 milligrams (mg), the generic version of Vesanoid capsules, 10 mg, of Hoffmann La Roche, Inc. (which is no longer being marketed in the United States).n++n++

According to IMS Health sales data for the 12 month period ending October 2016, the Vesanoid Capsules, 10 mg market achieved annual sales of approximately $22 million.

n++n++Glenmarks current portfolio consists of 112 products authorized for distribution in the US marketplace and 63 abbreviated new drug application (ANDA)s pending approval with the USFDA. In addition to these internal filings, Glenmark continues to identify and explore external development partnerships to supplement and accelerate the growth of its existing pipeline and portfolio.n++n++

On a consolidated basis, Glenmark Pharmaceuticals net profit rose 3.46% to Rs 223.59 crore on 15.67% rise in net sales to Rs 2173.18 crore in Q2 September 2016 over Q2 September 2015.

Glenmark Pharmaceuticals is a research‐driven, global, integrated pharmaceutical organization headquartered at Mumbai, India.

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About 950 million Indians are out of reach Internet: ASSOCHAM-Deloitte study
Dec 27,2016

Mobile data plans in India are among the cheapest in the world and the average retail price of smartphones are steadily declining, yet the Internet is out of the reach of nearly 950 million Indians, according to ASSOCHAM-Deloitte joint study.

Internet penetration is increasing in India, the access to affordable broadband, smart devices and monthly data packages is required to spread digital literacy to make their ends meet, noted the study titled Strategic national measures to combat cybercrime, jointly conducted by ASSOCHAM and research firm Deloitte.

Existing government infrastructure assets should be further leveraged for provision of digital services at remote locations. Digital literacy needs to be increased by providing institutional trainings in schools, colleges and universities; accelerating partnerships with global technology leaders and using the workforce trained under Skill India to impart trainings. An integrated approach between Digital India and Skill India needs to be constructed to design programmes and impart training.

The government should increase awareness regarding the value add of technology to increase technology adoption. The benefits of technology such as increase in the standard of living of the weaker sections of society and enhancing financial inclusion should be communicated to citizens.

Private sector players should be incentivized to develop infrastructure, provide services and promote digital literacy as part of the Digital India program. Start-ups should be involved to create and customize apps to local needs to increase adoption of digital technology, adds the joint study.

India has over 1,600 languages and various dialects. This diversity has resulted in strong language barriers. In areas where people only use local languages, integration of local language and technology is required to drive digital literacy.

Fear of cybercrime and breach of privacy has been a deterrent in adoption of digital technologies in India. In order to encourage people to switch to digital means, it is important to provide awareness and education on cyber security, risks and safeguarding of information on the internet.

Mobile platforms and internet enabled programs should be used to improve the accessibility of training programmes. Credibility and recognition of certifications provided by various initiatives is key to successful development of digital literacy. Sector Skills Councils (SSCs) associated with sub-sectors should get industry inputs on curriculum, trainings and services. Further, industry players should be compelled to recognize the credibility of certificates issued, noted the study.

The various stakeholders (different government programs, ministries, institutions, industries etc.) involved in imparting digital literacy need to work in coordination to obtain the most effective implementation. This will require transparency of information, workflow management and timely updates on the progress of various factions.

A framework needs to be defined for participation of the private sector in skill development programs which defines the role of the private sector, expectations in terms of investments, content and job guarantees.

Skill training and digital literacy should be introduced as part of institutional trainings in schools, colleges and universities across India. Curriculum and interactive programmes should be mandated to ensure adequate digital skills of all graduates. Skill building for Digital India Building skills required to achieve the Digital India vision.

India faces a severe shortage of well trained and skilled workers. It is estimated that only 2.3% of the workforce in India has undergone formal skill training versus over 50% in the developed countries. This shortage is accentuated in the electronic and digital sectors. However, to achieve inclusive growth, skilled and well-trained manpower is critical. Several strides have been made towards developing the right skills required to support Digital India and e-governance initiatives.

The top barriers to adoption of technologies in the economically weaker sections of society as well as in MSMEs include cost and affordability. Most telecom operators so far have not invested significantly in development of high speed access networks in rural areas. Similarly, MSMEs also have low awareness of government and stakeholder schemes that could lead to numerous benefits.

A key hindrance to adoption of technology is the low rate of digital literacy in India. Several initiatives undertaken by the government and other organisations are expected to improve the digital literacy rate in the coming years which will in turn result in an increase in adoption of technology and digital services.

While there has been an increase in localized content and applications, content still remains limited in several local and regional languages. Most applications that exist have been driven by the government. Private sector involvement remains limited to proof of concepts (PoCs) in limited test environments.

The speed at which digital infrastructure (especially fiber networks) is being developed needs to be increased. Existing government infrastructure assets (e.g., post offices, government buildings, CSCs) should be further leveraged for provision of digital services at remote locations.

Digital literacy needs to be increased by providing institutional trainings in schools, colleges and universities; accelerating partnerships with global technology leaders and using the workforce trained under Skill India to impart trainings. An integrated approach between Digital India and Skill India needs to be constructed to design programmes and impart training.

The government should increase awareness regarding the value add of technology to increase technology adoption. The benefits of technology such as increase in the standard of living of the weaker sections of society and enhancing financial inclusion should be communicated to citizens.

Private sector players should be incentivized to develop infrastructure, provide services and promote digital literacy as part of the Digital India program. Start-ups should be involved to create and customize apps to local needs to increase adoption of digital technology.

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Deepak Nitrite recovers on bargain hunting
Dec 27,2016

Meanwhile, the S&P BSE Sensex was up 27.09 points or 0.1% at 25,834.19.

On the BSE, 2,917 shares were traded on the counter so far as against the average daily volumes of 61,111 shares in the past one quarter. The stock had hit a high of Rs 83.55 and a low of Rs 82.10 so far during the day.

The stock had hit a record high of Rs 134.25 on 9 September 2016 and a 52-week low of Rs 56.10 on 12 February 2016. It had underperformed the market over the past one month till 26 December 2016, sliding 12.67% compared with the Sensexs 1.94% fall. The scrip had also underperformed the market in past one quarter, declining 30.78% as against the Sensexs 8.79% fall.

The small-cap company has equity capital of Rs 23.26 crore. Face value per share is Rs 2.

Shares of Deepak Nitrite tumbled 17.6% in the preceding seven straight trading sessions to settle at Rs 81.65 yesterday, 26 December 2016, from its close of Rs 99.10 on 15 December 2016.

In a recent development on the counter, Quest Investment Advisors on 23 December 2016 sold 35.35 lakh shares of Deepak Nitrite at an average price of Rs 85.12 per share in bulk deals on the NSE. Reliance Mutual Fund-Reliance Small Cap Fund bought 35.73 lakh shares at Rs 85.06 a piece. Quest is an investment management services firm.

Deepak Nitrites net profit rose 4.3% to Rs 15.41 crore on 10.6% decline in net sales to Rs 299.07 crore in Q2 September 2016 over Q2 September 2015.

Deepak Nitrite is a multi-division and multi-product company. The companys portfolio is a wide spectrum of products with diverse applications ranging from agrochemicals, rubber, pharmaceuticals, paper, textile, detergent, colourants, petrochemicals to speciality and fine chemicals.

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Glenmark Pharmaceuticals gets final approval for Tretinoin Capsules
Dec 27,2016

Glenmark Pharmaceuticals has been granted final approval by the United States Food & Drug Administration (USFDA) for Tretinoin Capsules, 10 mg, the generic version of Vesanoid Capsules, 10 mg, of Hoffmann La Roche, Inc. (which is no longer being marketed in the United States).

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Glenmark Pharmaceuticals gets final approval for Tretinoin Capsules
Dec 27,2016

Glenmark Pharmaceuticals has been granted final approval by the United States Food & Drug Administration (USFDA) for Tretinoin Capsules, 10 mg, the generic version of Vesanoid Capsules, 10 mg, of Hoffmann La Roche, Inc. (which is no longer being marketed in the United States).

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Empee Distilleries slips after board withdraws proposed sale of shares in Empee Hotels
Dec 27,2016

The announcement was made after market hours yesterday, 26 December 2016.

Meanwhile, the BSE Sensex was up 42.72 points, or 0.17%, to 25,849.82.

On the BSE, so far 1,935 shares were traded in the counter, compared with average daily volumes of 36,729 shares in the past one quarter. The stock had hit a high of Rs 51.25 and a low of Rs 50.60 so far during the day.

The stock hit a 52-week high of Rs 105.65 on 4 January 2016. The stock hit a 52-week low of Rs 44.50 on 22 November 2016. The stock had outperformed the market over the past 30 days till 26 December 2016, falling 0.58% compared with the 1.94% fall in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 27.29% as against Sensexs 8.56% decline.

The small-cap company has equity capital of Rs 19.01 crore. Face value per share is Rs 10.

The board of directors of Empee Distilleries in the meeting held yesterday, 26 December 2016, called off the proposed sale of 1.95 crore equity shares of Rs 10 each held by the company in Empee Hotels, an unlisted entity.

Empee Distilleries reported net loss of Rs 5.92 crore in Q2 September 2016 as against net profit of Rs 4.91 crore in Q2 September 2015. Net sales declined 30.9% to Rs 121.03 crore in Q2 September 2016 over Q2 September 2015.

Empee Distilleries principal activity is manufacture and sale of Indian made foreign liquor.

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Coordination between the Central & State administration is important for smooth transition of GST regime so that taxpayer of country does not suffer
Dec 27,2016

The Union Finance Minister Shri Arun Jaitley said that there is an urgent need for change in mindset and India has to move towards a mindset of voluntary compliance. He said that the payment of legitimate taxes should be considered as part of the process and nobody should think that tax evasion is acceptable. The Finance Minister further said that the payment of due tax is a responsibility of every citizen. Addressing the young IRS Officers, the Finance Minister inspired them to be hardworking and efficient while ensuring integrity and credibility in their careers. The Finance Minister expressed his faith in the probationers to be able to carry-out the onerous task of smooth rolling-out and administering the new indirect tax administration system i.e. Goods and Services Tax (GST). Shri Jaitley impressed upon the gathering the importance of coordination between the Central and the State administrations in smooth transition from the old to the new Indirect Tax regime so that the taxpayer of the country does not suffer. The Finance Minister also reminded the officers that the economy of the country is undergoing major changes and that shall continue to challenge them to be capable officers at every stage of their career. The Finance Minster stressed on the Culture of Correctness and Fairness that every officer should follow in their work as Revenue Officers. He also wished NACEN well in the construction of the new Training Campus and Academy in Palasamudram, Hindupur, Andhra Pradesh. He concluded his address by motivating the officer trainees to train well and become officers who can lead this country into economic glory.

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IAG Company renamed as IAG Glass Company
Dec 27,2016

IAG Company announced that the Companys name stands changed to IAG Glass Company with immediate effect and also change of Company Registered office.

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IAG Company renamed as IAG Glass Company
Dec 27,2016

IAG Company announced that the Companys name stands changed to IAG Glass Company with immediate effect and also change of Company Registered office.

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Sasken Comm in focus after fixing record date for buyback
Dec 27,2016

Sasken Communication Technologies announced that it has fixed 6 January 2017 as record date for the proposed buyback of shares. The announcement was made after market hours yesterday, 26 December 2016. The company on Saturday, 24 December 2016 announced to the stock exchanges that the buyback committee of the board of directors, at its meeting held on 23 December 2016, fixed the buyback price of Rs 410 per share and the total consideration for buyback at Rs 120.04 crore excluding the transaction costs. This represents 16.52% of the total issued and paid-up equity share capital of the company as on 31 March 2016.

Capital First announced that the meeting of the debenture committee of the board of directors of the company will be held on 29 December 2016, to consider the private placement of rated, listed, secured/unsecured/perpetual, redeemable, non‐convertible securities in the nature of debentures. The debentures shall be listed on the debt market segment of National Stock Exchange of India (NSE). The announcement was made after market hours yesterday, 26 December 2016.

Shilpa Medicare announced that the board of directors, at its meeting held yesterday, 26 December 2016, allotted 30.25 lakh equity shares at Rs 570 per share in the name of TA FII Investors, Mauritius pursuant to the resolution passed by the shareholders at their extra-ordinary general meeting held on 26 December 2016 and in-principal approvals received from BSE and NSE. The announcement was made after market hours yesterday, 26 December 2016.

Apollo Hospitals Enterprise announced that the company has issued a letter of comfort for an aggregate sum of Rs 37.10 crore to ICICI Bank in connection with the sanction of credit facilities in favour of its step-down subsidiary, Alliance Dental Care Limited, Chennai. The announcement was made after market hours yesterday, 26 December 2016.

Kaya announced that the company is in receipt of letter dated 25 December 2016 issued by Kaya Middle East DMCC (Kaya DMCC) confirming the settlement of consideration amount for acquiring 75% beneficial interest in Minal Medical Centre, Dubai and Minal Specialized Clinic Dermatology, Sharjah. Hence, the corporate guarantee provided by the company stands cancelled on payment of the consideration amount by Kaya DMCC

On 27 September 2016, the company had announced the corporate guarantee provided by it on behalf of Kaya DMCC, wholly owned subsidiary of the company, for payment of AED 22.5 million by Kaya DMCC for acquiring 75% beneficial interest in Minal Medical Centre, Dubai and Minal Specialized Clinic Dermatology, Sharjah.

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Agenda for board meeting of RCI Industries & Technologies
Dec 26,2016

RCI Industries & Technologies announced that the meeting of Board of Directors is scheduled to be held on 30 December 2016, inter-alia, to transact the following businesses:

1. To consider and approve the issue of equity shares on preferential basis.

2. To fix day, date, time and venue of Extra Ordinary General Meeting (EGM).

3. To fix cutoff date and relevant date for the purpose of EGM and e-voting.

4. To appoint Scrutinizer for conducting e-Voting

5. To consider any other matter relating to EGM of the Company.

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Board of Hazoor Multi Projects review company performance
Dec 26,2016

Hazoor Multi Projects announced that the Board of Directors of the Company at its meeting held on 26 December 2016, inter alia, have discussed the following;

- Management Discussion and Analysis about financial operation of the Company and also reviewed companies performance.

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Outcome of board meeting of Shilpa Medicare
Dec 26,2016

Shilpa Medicare announced that the Board of Directors, at their meeting held on 26 December 2016, allotted 30,25,000, (Thirty Lakh Twenty Five Thousand) equity share of Re. 1/- each at a premium of Rs.569/- per share in the name of TA FII Investors, IFS Court, Bank Street, Twenty Eight, Cybercity Ebene 72201, Mauritius pursuant to the resolution passed by the shareholders at their Extra-Ordinary General Meeting held on 26 December, 2016 and in-principal approvals received from BSE (Dt:8 December 2016) National Stock Exchange of India (Dt.23 December 2016).

The Company has further intimate that Naresh Patwari has been co-opted as an Additional (non-executive and non-independent) Director of the Company, being the nominee of TA FII Investors Limited with effect from this date, subject to regularization by shareholders at the ensuing annual general meeting of the Company in accordance with the requirements of the Companies Act, 2013.

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Board of Polymac Thermoformers approves change in directorate
Dec 26,2016

Polymac Thermoformers announced the following change in directorate -

1. Puspjeet Kumar, Promoter and Director of the Company wishes to resign from the Company with effect from 26 December 2016.

2. A meeting of Board of Directors has been called on 26 December 2016 to give effect to the resignation of Puspjeet Kumar and to appoint Pramod Kumar Agarwal as Non Executive Director.

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Board of Olympia Industries to consider conversion of warrants
Dec 26,2016

Olympia Industries announced that a meeting of the Board of Directors of the Company will be held on 29 December 2016, inter alia, to consider the Allotment of Equity shares pursuant to conversion of warrants as per SEBI (Issue of Capital and Disclosure Requirement) Regulation, 2009 and relevant provisions of Companies Act, 2013.

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