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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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GAIL (India) gains after starting operations of first polyethylene process line
Sep 21,2016

The announcement was made during market hours today, 21 September 2016.

Meanwhile, the S&P BSE Sensex was up 131.27 points or 0.46% at 28,654.47.

On BSE, so far 70,656 shares were traded in the counter as against average daily volume of 1.51 lakh shares in the past one quarter. The stock hit a high of Rs 392.30 and a low of Rs 386.30 so far during the day. The stock had hit a 52-week high of Rs 407.80 on 7 September 2016. The stock had hit a 52-week low of Rs 276.45 on 10 November 2015. The stock had outperformed the market over the past one month till 20 September 2016, gaining 5.97% compared with 1.59% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 0.08% as against Sensexs 6.16% rise.

The large-cap company has equity capital of Rs 1268.48 crore. Face value per share is Rs 10.

GAIL (India) said that UNIPOL polyethylene (PE) process line has the capacity to produce 4 lakh tons of PE per year. The total production capacity of GAILs petrochemical plant at Pata, Uttar Pradesh is now 8.1 lakh tonnes per annum. GAILs flexible high-density polyethylene (HDPE)/linear low-density polyethylene (LLDPE) swing plant provides access to a full range of resin applications which will allow GAIL and its customers to capture new market opportunities as PE market demands are changing.

The new process line gives GAIL the platform to expand its PE product capabilities, providing Indian PE converters with the high quality, domestically produced resin products needed for both large-volume markets as well as advanced performance applications.

GAIL (India)s net profit jumped 244% to Rs 1335.18 crore on 14.6% decline in net sales to Rs 10686.58 crore in Q1 June 2016 over Q1 June 2015.

State-run GAIL (India) is Indias largest natural gas company with a market share of over 80% in natural gas transmission. Apart from natural gas transmission, distribution and processing, GAIL has diversified business interests in LPG transmission, petrochemicals, city gas projects and exploration and production activities. Government of India (GoI) holds 56.11% stake in GAIL (as per shareholding pattern as on 30 June 2016).

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Premier Explosives provides business update
Sep 21,2016

With reference to the news of successful test firing of Long Range Surface to Air Missile (LRSAM) from a mobile launcher at Integrated Test Range, Chandipur, Orissa on 20 September 2016, Premier Explosives announced that the Company has been providing solid propellant for the LRSAM.

LRSAM, a product of joint venture between India and Israel, was earlier successfully test launched by Indian Navy on the Western Seaboard by INS Kolkata on 30 December 2015.

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Will take 126 years for India to reach education standards of developed nations: ASSOCHAM Paper
Sep 21,2016

India does have ambitions to reach the level of developed nations in education, but it will take at least six generations or 126 years to scale up to the top standard , if the country continues at its present pace in one of the most vital sectors, an ASSOCHAM Paper has said.

n++Though India has made rapid strides, the yawning gap between the standards of education does not seem to bridge soon as the developed world has not slowed down spending on educationn++, the paper noted.

It said with India spending mere 3.83 per cent of its Gross Domestic Product (GDP) on education, it is not sufficient to catch up. n++It will take six generations or 126 years to catch up with developed countries if we do not change our education system dramaticallyn++.

The US spends 5.22 per cent of its GDP on education, whereas for Germany it is 4.95 per cent and UK 5.72 per cent. n++With the GDP base of these developed counties so high, the absolute money earmarked for education is huge. For instance the size of the US GDP would be something like seven times the size of the Indian GDP and then on top of it, its ratio on education on a higher base would be very significantn++, said ASSOCHAM Secretary General Mr D S Rawat said.

The ASSOCHAM Paper also noted, however, that India has a resource constraint, but then, the country must catch up to reach the levels of spending as recommended by the United Nations, which wants countries to spend at least six per cent of their GDP on education.

If India steps up its resource commitment to education, it can really become a major source of talent to the rest of the world, given the demographic advantage it has. With 315 million students, it has the largest pupil population in the world, besides being the youngest country.

Shortages of quality teachers are among the major challenges for the education sector, the paper said. At present, the shortage of teachers has been measured at 1.4 million. Besides 20 per cent of the teachers do not measure up to the standards of the National Council for Teachers Education (NCTE).

Also, due to absence of focus on effective skill development, India is one of the least skilled countries. n++Majority of the college graduates and post graduates have employability challengesn++. This is ironical because India has a surplus work force but it is not skilled enough.

n++In our country only 4.7 per cent of the work force has any formal training, whereas this figure is 80 per cent for Japan, 95 per cent for South Korea, 75 per cent for Germany, 68 per cent for UK and 52 per cent for the USn++.

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Essel Propack scales record high after announcing acquisition of Germany firm
Sep 21,2016

The announcement was made before market hours today, 21 September 2016.

Meanwhile, the S&P BSE Sensex was up 148.62 points or 0.52% at 28,671.82

On BSE, so far 61,000 shares were traded in the counter as against average daily volume of 9,268 shares in the past one quarter. The stock hit a high of Rs 245.20 in intraday trade so far, which is record high for the counter. The stock hit a low of Rs 232.50 so far during the day. The stock had hit a 52-week low of Rs 132.50 on 20 January 2016. The stock had outperformed the market over the past 30 days till 20 September 2016, rising 2.77% compared with 1.92% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 15.12% as against Sensexs 6.57% rise.

The mid-cap company has equity capital of Rs 31.42 crore. Face value per share is Rs 2.

Essel Propack today, 21 September 2016 announced a complete buyout of Essel Deutschland Germany (EDG). Following this transaction, EDG will be a 100% subsidiary of Essel Propack. Until now, Essel Propack has been a joint venture (JV) partner with 24.9% share in EDG. The enterprise value of EDG stands at $32 million.

The acquisition will help the company unlock synergies such as enhanced cross selling opportunity in the German markets, sourcing flexibility and better capacity utilization at all of its Europe plants, Essel Propack said. The company now can deploy its proven capability to offer high decoration laminated tube solutions for the premium non oral care brands across Europe, including Germany, it said. Essel Propack will also have the benefit of a long term supply agreement which EDG has recently signed with a local oral care company, it added.

The EDG revenue of approximately $40 million will now be consolidated in Essels global revenue and will boost consolidated revenue by 11%. In the year ended 31 March 2016 (FY 2016), Essel Propacks consolidated revenue stood at Rs 2184 crore.

Ram Ramasamy, Global COO, Essel Propack, said that the complete buyout will enable the company to step up productivity and efficiency to those of other Essel Propack plants and improve overall profits.

Essel Propacks consolidated net profit rose 6.03% to Rs 37.62 crore on 6.31% fall in net sales to Rs 517.64 crore in Q1 June 2016 over Q1 June 2015.

Essel Propack is the largest specialty packaging global company, manufacturing laminated plastic tubes catering to the FMCG and Pharma space.

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Colinz Laboratories to hold AGM
Sep 21,2016

Colinz Laboratories announced that the 30th Annual General Meeting(AGM) of the company on 30 September 2016.

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VHCL Industries to hold AGM
Sep 21,2016

VHCL Industries announced that the th Annual General Meeting(AGM) of the company on 30 September 2016.

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Raghunath International to hold AGM
Sep 21,2016

Raghunath International announced that the 22th Annual General Meeting(AGM) of the company on 29 September 2016.

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First Winner Industries to hold AGM
Sep 21,2016

First Winner Industries announced that the th Annual General Meeting(AGM) of the company on 30 September 2016.

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Fairdeal Filaments to hold AGM
Sep 21,2016

Fairdeal Filaments announced that the 26th Annual General Meeting(AGM) of the company on 30 September 2016.

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Rubber Products to hold AGM
Sep 21,2016

Rubber Products announced that the 50th Annual General Meeting(AGM) of the company on 29 September 2016.

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Techno Forge to hold board meeting
Sep 21,2016

Techno Forge will hold a meeting of the Board of Directors of the Company on 20 September 2016 to get approval of the Board for seeking extension of time from Registrar of Companies, Ahmedabad Gujarat for holding Annual General Meeting of the Company.

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Shriram EPC gains after bagging order
Sep 21,2016

The announcement was made during market hours today, 21 September 2016.

Meanwhile, the BSE Sensex was up 148.91 points, or 0.52%, to 28,672.11.

Higher than normal volumes were witnessed on the counter. On BSE, so far 2.12 lakh shares were traded in the counter, compared with an average volume of 42,546 shares in the past one quarter. The stock hit a high of Rs 27.80 and a low of Rs 23 so far during the day. The stock hit a 52-week high of Rs 38.55 on 6 January 2016. The stock hit a record low of Rs 19 on 8 June 2016. The stock had outperformed the market over the past one month till 20 September 2016, gaining 7.16% compared with 1.59% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 2.43% as against Sensexs 6.16% rise.

The small-cap company has an equity capital of Rs 330.63 crore. Face value per share is Rs 10.

Shriram EPC said that it received the order from Chennai Metropolitan Water Supply and Sewerage Board (CMWSSB) Chennai for providing comprehensive water supply scheme to Pallikaranai and Mugalivakkam areas in Chennai city. The project is to be executed over a period of 24 months.

Shriram EPC reported net loss of Rs 41.84 crore in Q1 June 2016, higher than net loss of Rs 2.79 crore in Q1 June 2015. Net sales declined 37.6% to Rs 94.45 crore in Q1 June 2016 over Q1 June 2015.

Shriram EPC offers design, engineering, procurement, construction and project management services for infrastructure projects.

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Indoco Remedies acquires a manufacturing facility
Sep 21,2016

Indoco Remedies has acquired the manufacturing facility located at Baddi of Micro Labs (a Bangalore based Company). The facility is spread over an area of 18000 sq.mt, out of which 11,000 sq.mt. is the build up area. It produces 4.3 million tablets and 50 million capsules p.a.

With this acquisition, Indoco will now have 6 facilities for finished dosages and 3 for APIs. Out of these, 3 facilities for finished dosages, including sterile plant and 2 facilities for API manufacturing are USFDA approved.

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Silent Revolution on within govt. for path-breaking reforms, GST likely to be implemented as schedule: Cabinet Secretary
Sep 21,2016

The Cabinet Secretary Mr. Pradeep Kumar Sinha re-assured India and its trade and business including international community, emphasizing that the goods and services tax (GST) and other path breaking reforms that the government has committed to its people will be implemented as promised since it is working overtime to accomplish the targets.

Addressing a Chief Secretaries Conclave- Accelerate Ease of Doing Business to the Next Orbit organized by the PHD Chamber of Commerce and Industry here today, Mr. Sinha also stressed n++a silent revolution is underway and despite teething problems, India would move on to accomplish the objectives and targets set in by its government in all sectors of economic activities with increased participations of all stakeholders to further improve the spirit of governancen++.

n++The entire infrastructure sector, be it roads, civil aviation, energy, conventional and non-convention, power and petroleum including railways and host of other areas in infrastructure have improved their performance as per targets and the civil aviation sector has begun to grow at the rate of 20%, pausing a serious challenge to railways in terms of its trafficn++, pointed out Mr. Sinha.

Referring to the GST implementation roadmap, the Cabinet Secretary exuded confidence that since government has been working overtime to make sure that the path breaking legislation is implemented as per intended deadline.

The stuck-up projects have already been facilitated for implementation in all segments of Indian economy and whatever remaining needed to be done would be completed as the government has turned out much more serious for its projects implementation in comparison with past practices, concluded Mr. Sinha.

President, PHD Chamber, Dr. Mahesh Gupta demanded for enactment of laws that would lead to de-criminalization of business activities as also sought that practices be put in place so that entry into business and exit from it becomes hassel free.

Secretary General, PHD Chamber, Mr. Saurabh Sanyal complimented the government of the day on moving in right direction to smoothen ease of doing business as it would empower the entrepreneurs and make Indian economy reach double digit growth trajectory.

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Federal-Mogul Goetze (India) shifts registered office
Sep 21,2016

Federal-Mogul Goetze (India) has shifted its registered office to DLF Prime Tower, 10 Ground Floor, F 79 & 80, Okhla Phase 1, New Delhi 110 020 with effect from 01 September 2016.

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