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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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Mangalore Chemicals grows after recommencing operations of plants
Jul 20,2017

The announcement was made during market hours today, 20 July 2017.

Meanwhile, the S&P BSE Sensex was down 71.55 points, or 0.22%, to 31,883.80. The S&P BSE Small-Cap index was up 24.23 points, or 0.15%, to 15,998.80.

On the BSE, 3,366 shares were traded in the counter so far, compared with average daily volume of 36,246 shares in the past one quarter. The stock had hit a high of Rs 73.70 and a low of Rs 70.80 so far during the day. The stock had hit a 52-week high of Rs 81.25 on 10 May 2017. The stock had hit a 52-week low of Rs 39 on 9 November 2016.

The stock had underperformed the market over the past one month till 19 July 2017, falling 6.78% compared with Sensexs 2.06% rise. The scrip had also underperformed the market in past one quarter, rising 7.44% as against Sensexs 8.93% rise. The scrip had, however, outperformed the market in past one year, gaining 36.02% as against Sensexs 15% rise.

The small-cap company has equity capital of Rs 118.52 crore. Face value per share is Rs 10.

Mangalore Chemicals and Fertilizers said that the plants commenced operations after carrying out refractory repair job in the primary reformer of the ammonia plant.

On 27 June 2017, the company had informed that it has shutdown the ammonia, urea and ABC plant for attending to ammonia plant primary reformer furnace refractory repair.

Mangalore Chemicals and Fertilizers reported net profit of Rs 4.69 crore in Q4 March 2017 compared with net loss of Rs 5.12 crore in Q4 March 2016. The companys net sales fell 32.4% to Rs 545.46 crore in Q4 March 2017 over Q4 March 2016.

Mangalore Chemicals and Fertilizers is the largest manufacturer of chemicals fertilizers in Karnataka. The company with its wide range of products that include urea, di-ammonium phosphate, muriate of potash, granulated fertilizers, micronutrients, soil conditioners and specialty fertilizers, touches and enriches the lives of farmers across Southern India.

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Relax bank guarantee norms for ship construction orders by Navy: ASSOCHAM
Jul 20,2017

The ASSOCHAM has approached the Defence Ministry, seeking relaxation for stringent bank guarantee norms required for the private sector shipyards which want to bid for construction of ships for the Indian Navy.

As per the latest policy changes brought in June this year, the shipyards to whom the contract is awarded are required to furnish Performance cum Warranty Bank Guarantee (PWBG) of 10% of the value of the Contract. Besides, the shipyards also need to furnish Advance Bank Guarantee (ABG) for all milestone payments and Integrity Pack Bank Guarantee (IPBG).

These Bank Guarantees (BGs) remain in force till delivery of the vessels. While this is a measure to safeguard the interest of the Government of India, it puts an unsustainable burden on the shipbuilding companies, which will make the projects unviable, the ASSOCHAM has written to the Defence Secretary Mr Sanjay Mitra.

The letter said the Defence Shipbuilding is possibly the only industry wherein Government contracts require all milestone payments to be backed by equivalent amount of ABG as well as PWBG. In all other industries in India such as infrastructure, the BG requirement is restricted to a PWBG of about 5 % and / or an ABG for the first advance.

n++Given the programme size, this is a very challenging task for any shipyard. There are restrictions imposed through RBI guidelines on the maximum credit exposure that a bank can take on a single entity or a single group. The total amount of Bank Guarantees issued by all schedule commercial banks in India across all industries in India and outside India as of March 31, 2016 was Rs. 10,58,116 crore. The Total value of Naval Defence contracts awarded and to be awarded in the next few years is in several lakhs of crores. Hence, the requirement of Bank Guarantees for Defence shipbuilding alone would be a substantial percentage of the total Bank Guarantees issued by the banks in Indian++.

Presently, the Defence PSUs in case of orders on a nomination basis from the MoD are allowed to submit indemnity bonds in lieu of BGs. n++It is recommended that similar provision may be made applicable in case of Private Sector Shipyards.n++

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GAIL (India) schedules AGM
Jul 20,2017

GAIL (India) announced that the Annual General Meeting (AGM) of the company will be held on 12 September 2017.

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Rama Pulp & Papers to hold board meeting
Jul 20,2017

Rama Pulp & Papers will hold a meeting of the Board of Directors of the Company on 28 July 2017, to take on record unaudited financial results for the quarter ended 30th June 2017.

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Ultracab (India) announces board meeting date
Jul 20,2017

Ultracab (India) will hold a meeting of the Board of Directors of the Company on 25 July 2017, to consider and approve the Unaudited Standalone Financial Results of the Company for the quarter ended on 30th June 2017.

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Equitas Holdings to convene board meeting
Jul 20,2017

Equitas Holdings will hold a meeting of the Board of Directors of the Company on 28 July 2017, to consider and approve, the unaudited standalone & consolidated financial results of the Company for the quarter ended June 30, 2017.

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Music Broadcast to table quarterly results
Jul 20,2017

Music Broadcast will hold a meeting of the Board of Directors of the Company on 31 July 2017, to consider and approve un-audited financial results for the quarter ended 30 June 2017

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Sharda Cropchem to hold board meeting
Jul 20,2017

Sharda Cropchem will hold a meeting of the Board of Directors of the Company on 29 July 2017.

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Vantage Knowledge Academy to hold board meeting
Jul 20,2017

Vantage Knowledge Academy will hold a meeting of the Board of Directors of the Company on 31 July 2017.

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Integrated Capital Services announces board meeting
Jul 20,2017

Integrated Capital Services will hold a meeting of the Board of Directors of the Company on 20 July 2017, to amend the scheme of Merger of Deora Associates Private Limited with the Company, & to consider resignation of Mr. Sanjay Agrawal from the post of Chief Financial Officer of the Company

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Pradeep Metals to hold AGM
Jul 20,2017

Pradeep Metals announced that the 34th Annual General Meeting (AGM) of the company will be held on 21 August 2017.

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KLRF to convene board meeting
Jul 20,2017

KLRF will hold a meeting of the Board of Directors of the Company on 14 September 2017.

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Shah Foods to discuss quarterly results
Jul 20,2017

Shah Foods will hold a meeting of the Board of Directors of the Company on 8 May 2017, to approve and take on record the un-audited results with limited review certificate for the Quarter ended on 30th June 2017 as per Regulation 29 of the SEBI Listing Regulations 2015 (LODR).

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Menon Bearings drops after weak Q1 results
Jul 20,2017

The result was announced during market hours today, 20 July 2017.

Meanwhile, the S&P BSE Sensex was down 13.90 points, or 0.04% at 31,911.50. The S&P BSE Small-Cap index was up 32.95 points, or 0.21% at 16,007.52.

High volumes were witnessed on the counter. On the BSE, 81,000 shares were traded on the counter so far as against the average daily volumes of 18,831 shares in the past one quarter. The stock had hit high of Rs 99.70 and a low of Rs 87.20 so far during the day. The stock had hit a record high of Rs 102 on 6 July 2017 and a 52-week low of Rs 60 on 25 January 2017.

The stock had outperformed the market over the past one month till 19 July 2017, advancing 24.37% compared with the Sensexs 2.06% rise. The scrip had also outperformed the market over the past one quarter advancing 28.36% as against the Sensexs 8.93% rise. The scrip had also outperformed the market over the past one year advancing 21.09% as against the Sensexs 15% rise.

The small-cap company has equity capital of Rs 5.60 crore. Face value per share is Rs 1.

Menon Bearings board recommended interim dividend of Rs 0.75 per share for the financial year 2017-18.

Menon Bearings is engaged in the manufacturing of auto components.

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ABB India shines after posting good Q2 results
Jul 20,2017

The result was announced during market hours today, 20 July 2017.

Meanwhile, the S&P BSE Sensex was down 43.18 points, or 0.14% to 31,912.17.

High volumes were witnessed on the counter. On the BSE, 1.09 lakh shares were traded in ABB India counter so far, compared with average daily volumes of 28,482 shares in the past one quarter. The stock had hit a high of Rs 1,548.40 and a low of Rs 1,440 so far during the day. The stock had hit a 52-week high of Rs 1,619.45 on 10 May 2017. The stock had hit a 52-week low of Rs 950 on 9 November 2016.

The stock had underperformed the market over the past one month till 19 July 2017, falling 3.62% compared with Sensexs 2.06% rise. The scrip had also underperformed the market in past one quarter, rising 3% as against Sensexs 8.93% rise. The scrip had also underperformed the market in past one year, gaining 12.54% as against Sensexs 15% rise.

The large-cap company has equity capital of Rs 42.38 crore. Face value per share is Rs 2.

ABB Indias net profit margin rose to 3.4% in Q2 June 2017 from 2.6% in Q2 June 2016.

This was a quarter where the lag effect of demonetization and troughing corporate lending met with the anticipation of Goods and Services Tax (GST). Continued close collaboration led to deeper insights of customer operations in a dynamic environment. This ensured revenue growth. Lean management, relentless pursuit of cash over revenue, and similar initiatives as part of operationalexcellence yielded savings and superior cash position.

Orders grew 13% to Rs 2301 crore in Q2 June 2017 over Q2 June 2016 reflecting companys organic growth strategy. Large orders remained muted as decisions on government initiatives and private investments were stalled in anticipation of upcoming tax restructure.

Base orders were the key contributor with industry turning to improving operational efficiencies through technology and digital upgrades including robotics automation. ABB strengthened its own digital asset health management offering to support the transformation of the Indian industry - with the launch of its remote drives service center. Export orders continued the uptrend in the year with a focus on power networks and industrial efficiency.

ABB is a pioneering technology leader in electrification products, robotics and motion, industrial automation and power grids, serving customers in utilities, industry and transport & infrastructure globally. ABB Group holds 75% stake in ABB India as per the shareholding as on 31 March 2017.

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