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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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NBCC (India) slips after muted Q2 outcome
Nov 21,2016

The result was announced after market hours on Friday, 18 November 2016.

Meanwhile, the S&P BSE Sensex was down 83.75 points or 0.32% at 26,066.49

On BSE, so far 27,000 shares were traded in the counter as against average daily volume of 1.91 lakh shares in the past one quarter. The stock hit a high of Rs 223 and a low of Rs 212.40 so far during the day. The stock had hit a record high of Rs 299.20 on 5 October 2016. The stock had hit a 52-week low of Rs 162 on 12 February 2016.

The large-cap company has equity capital of Rs 120 crore. Face value per share is Rs 2.

NBCC (India) is a blue-chip Government of India (GoI) Navratna Enterprise under the Ministry of Urban Development, in construction sector. The GoI held 90% stake in the firm (as per shareholding pattern as on 30 September 2016).

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Board of Sharad Fibres & Yarn Processors approves scheme of amalgamation
Nov 21,2016

The Board of Sharad Fibres & Yarn Processors at its meeting held on 19 November 2016 has approved the scheme of amalgamation of BST Exports (first transferor company), wholly owned susbsidiary of Sharad Fibres & Yarn Processors , Dalmia Exim (second transferor company), wholly owned subsidiary of BST Exports with Sharad Fibres & Yarn Processors (transferee company).

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GE Power India postpones board meeting
Nov 21,2016

GE Power India announced that due to unavoidable circumstances, the aforesaid Meeting of the Board of Directors is postponed. The fresh date of the Board Meeting to consider and approve inter-alia the unaudited financial results for the 2nd quarter and half year ended 30 September 2016 will be intimated in due course.

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Board of Indosolar to consider September quarter and half year results
Nov 21,2016

Indosolar announced that the Meeting of Board of Directors of the Company will be held on 26 November 2016, inter-alia, to consider unaudited financial results for the quarter and six months ended 30 September 2016 and approval of Statement of Assets and Liabilities for the half-year ended 30 September 2016.

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Cash crunch fall-out: Non-bank payment players to witness huge growth, says ASSOCHAM Paper
Nov 21,2016

One of the immediate fall outs of the demonitisation of high value notes would be a mushrooming growth in the number of non-bank players like Paytm and Free charge into the payment business, as more and more retailers in the goods and service value chain would be compelled to shift to non-cash modes for customer transactions, an ASSOCHAM Paper has said.

These players engaged into the business known as the pre-paid payment instruments (PPI) work as mobile and digital wallets. While as many as 45 PPI players have started offering services, it is only a handful of operators which have been aggressively ramping up and marketing their operations.

n++However, the demonitisation has come about as a big opportunity for them. It is not only during this immediate cash crisis period that the PPIs would see a huge growth, but going forward also, the system would penetrate into the very small kirana stores as well; it would not be a surprise if well-run road side dhabas also start accepting bills through mobile wallet players,n++ said ASSOCHAM Secretary General Mr D S Rawat.

Offering the stored value service to the customers, the non-bank PPI issuers are allowed by the Reserve Bank of India (RBI) to enable transactions for purchase of goods and services besides remitting payments out of the mobile wallets. The wallet-to-wallet transactions would also see a big growth.

n++Given the thrust being given by the government to move towards the less-cash economy, the private sector PPIs is expected to invest lot more in product innovation and expand the reach through roping in both the customers and the merchants. Needless to say, at the merchants level a lot of sensitization, training and cyber security would be required,n++ the chamber said.

These players are using the increasing mobile density to offer the services through the hand set. Besides, the PPIs, other electronic transactions and services devices would be offered aggressively even by the banks, who are presently bearing the brunt of cash swapping, it said.

The banks would offer on an enhanced scale mobile banking services through SMS, USSD (Unstructured Supplementary Services Data) and applications (Apps). Presently, according to RBI data, as many as 67 banks are offering mobile services to 120 million customers. n++This number is going to grow significantly,n++ the ASSOCHAM said.

With the launch of Unified Payments Interface (UPI customers can provide only a registered virtual address instead of details of bank accounts for making/receiving payments n++However, the banks must use the App based UPI more aggressively as it can really be a game changer,n++ Mr Rawat said.

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Tata Consultancy Services to hold EGM
Nov 21,2016

Tata Consultancy Services announced the Extra Ordinary General Meeting (EGM) of the Company will be held on 13 December 2016.

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PM Launches n++Housing for Alln++ in Rural Areas
Nov 21,2016

Prime Minister Shri Narendra Modi formally launched n++Housing for Alln++ in rural areas under which the Government proposes to provide an environmentally safe and secure pucca house to every rural household by 2022. Named the Pradhan Mantri Awaas Yojana (Gramin), in its first phase the target is to complete one crore houses by March 2019. The unit cost for these houses has been significantly increased and now through convergence a minimum support of nearly Rs. 1.5 lakh to Rs. 1.6 lakh to a household is available. There is also a provision of Bank loan upto Rs. 70,000/-, if the beneficiary so desires. The selection of beneficiaries has been through a completely transparent process using the Socio Economic Census 2011 data and validating it through the Gram Sabha.

PMAY-G is a major step forward in bringing together Skill India, Digital India, Make In India, IT/DBT Aadhaar platform and Pradhan Mantri Jan Dhan Yojana (PMJDY). The programme provides for skilling 5 lakh Rural Masons by 2019 and allows over 200 different housing designs across the country based on a detailed study of housing typologies, environmental hazards and the households requirements. A large scale use of local materials is envisaged along with a complete home with cooking space, electricity provision, LPG, toilet and bathing area, drinking water etc through convergence. The programme targets the poor households and uses ICT and space technology to further confirm correct selection of beneficiaries and progress of work. The entire payments are through IT/DBT mode with Aadhaar linked Bank accounts with consent, to ensure complete transparency and accountability. There is a provision for orientation of beneficiaries. A 45 days on site hands-on skill training of Rural Masons helps poor households to move up the skilling ladder.

The PM saw over 40 of the over 200 building designs and interacted with newly trained Rural Masons and beneficiaries which were showcased near dais. He also distributed Sanction Certificates to a few beneficiaries from Agra District.

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NBCC (India) in focus after declaring Q2 result
Nov 21,2016

NBCC (India)s consolidated net profit rose 1.42% to Rs 69.11 crore on 15.75% increase in net sales to Rs 1224.41 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours on Friday, 18 November 2016.

Housing finance major HDFC announced after market hours on Friday, 18 November 2016 that it has assigned the outstanding loans in projects of Unitech Group to JM Financial Asset Reconstruction Company (JMFARC). Detailing the rationale behind this move, HDFC stated that over the last three decades, it has funded various projects of the Unitech Group and that HDFCs current exposure to the Group involves funding of certain projects across various locations. In the recent past, the Unitech Group has faced sluggishness in the sale of apartments in its projects. This has affected the cashflows of the Group, which in turn has had an adverse impact on the progress of construction, and has resulted in irregular servicing of the loans. Under these circumstances, HDFC has assigned the outstanding loans in these projects to JMFARC. All these projects are located in prime locations, are financially viable but require additional funding. JMFARC will arrange for funds to support and kick-start these projects. The progress of the projects and the resultant cash flows will thereafter be closely monitored.

Against the total dues of Rs 869 crore in respect of these projects, JMFARC has paid HDFC Rs 155 crore upfront and has issued security receipts (SRs) to HDFC amounting to Rs 705 crore which will be redeemable over the period of construction. Though these accounts were standard assets as at 30 September 2016, and turned non-performing assets (NPA) only at the end of October 2016, in view of the irregular payment history, HDFC said, it has over the last few quarters as a matter of prudence, made provisions amounting to Rs 240 crore in respect of these accounts. No further provisioning is required as a result of the sale of the loans to JMFARC. After considering the provision of Rs 240 crore already made (34% of the SRs) the net carrying value of the SRs will be Rs 465 crore.

Vedanta announced after market hours on Friday, 18 November 2016 that its subsidiary Sesa Mining Corporation has revoked the suspension order in the Bicholim mines with immediate effect. The management took the decision after employees appealed to resume work. Sesa Mining Corporation had recently suspended the work at Bicholim mines due to union agitation/activism.

Alembic Pharmaceuticals announced that it received approval from the US Food & Drug Administration (USFDA) for its abbreviated new drug application (ANDA) for Telmisartan and Amlodipine tablets, 40 mg/5 mg, 40 mg/10 mg, 80 mg/5 mg, and 80 mg/10 mg. The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD) Twynsta tablets, 40 mg/5 mg, 40 mg/10 mg, 80 mg/5 mg, and 80 mg/10 mg, of Boehringer Ingelheim Pharmaceuticals, Inc. Telmisartan and Amlodipine tablets are indicated for the treatment of hypertension, alone or with other antihypertensive agents to reduce blood pressure. Alembic now has a total of 50 ANDA approvals (44 final approvals and 6 tentative approvals) from USFDA. The announcement was made after market hours on Friday, 18 November 2016.

3M Indias net profit rose 1.26% to Rs 48.21 crore on 9.25% increase in total income to Rs 576.74 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours on Friday, 18 November 2016.

Rashtriya Chemicals and Fertilizers net profit fell 4.8% to Rs 43.42 crore on 26.47% side in total income to Rs 1789.03 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours on Friday, 18 November 2016.

Techno Electric & Engineering Companys consolidated net profit rose 58.33% to Rs 70.60 crore on 44.26% increase in total income to Rs 373.71 crore in Q2 September 2016 over Q2 September 2015. The result was announced on Saturday, 19 November 2016.

Siyaram Silk Mills net profit rose 6.06% to Rs 26.79 crore on 7.46% increase in total income to Rs 427.37 crore in Q2 September 2016 over Q2 September 2015. The result was announced on Saturday, 19 November 2016.

Great Eastern Shipping Company announced after market hours on Friday, 18 November 2016, that Greatship Global Offshore Services, a Singapore incorporated subsidiary of Greatship (India) (GIL), which is a wholly-owned subsidiary of the company, has sold and delivered its 2013.-built ROV Support Vessel (ROVSV) Greatship Ragini, to the buyers. With the delivery of this vessel to the buyers, GIL and its subsidiaries currently own and operate five Platform Supply Vessels (PSVs), eight Anchor Handling Tug Supply Vessels (AHTSVs), two Multipurpose Platform Supply and Support Vessels (MPSSVs), five R-class supply vessels and four jack-up rigs.

Shipping Corporation of India (SCI) said that on 18 November 2016, the company took physical delivery of secondhand MPSV m.v. SCI Sabarmati, having a gross tonnage of 3306 metric tonnes and deadweight of 3352.31 metric tonnes, at Singapore. The announcement was made after market hours on Friday, 18 November 2016.

GPT Infraprojects announced the commencement of trial production at the companys concrete sleeper plant in Pahara village located in Mirzapur district, Uttar Pradesh. GPT Infraprojects has set up the sleeper facility in Pahara in connection with the World Bank funded Eastern Dedicated Freight Corridor (EDFC) project for supplying concrete sleepers. This production facility, with a capacity of 400,000 sleepers per annum, is one of the 2 facilities being setup for this 246 crore contract of EDFC by the company. The first facility of similar capacity in Ikari, Uttar Pradesh began trial production this September. The announcement was after market hours on Friday, 18 November 2016.

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Delta Industrial Resources reports standalone net profit of Rs 0.06 crore in the September 2016 quarter
Nov 19,2016

Net profit of Delta Industrial Resources reported to Rs 0.06 crore in the quarter ended September 2016 as against net loss of Rs 0.09 crore during the previous quarter ended September 2015. Sales declined 91.70% to Rs 0.22 crore in the quarter ended September 2016 as against Rs 2.65 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales0.222.65 -92 OPM %40.91-4.15 - PBDT0.09-0.09 LP PBT0.09-0.09 LP NP0.06-0.09 LP

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Prabhav Industries reports standalone net profit of Rs 0.02 crore in the September 2016 quarter
Nov 19,2016

Net profit of Prabhav Industries remain constant at Rs 0.02 crore in the quarter ended September 2016 and also during the previous quarter ended September 2015. Sales declined 97.39% to Rs 0.19 crore in the quarter ended September 2016 as against Rs 7.27 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales0.197.27 -97 OPM %36.840.28 - PBDT0.040.02 100 PBT0.030.02 50 NP0.020.02 0

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Sanguine Media standalone net profit declines 55.56% in the September 2016 quarter
Nov 19,2016

Net profit of Sanguine Media declined 55.56% to Rs 0.04 crore in the quarter ended September 2016 as against Rs 0.09 crore during the previous quarter ended September 2015. Sales declined 62.72% to Rs 1.26 crore in the quarter ended September 2016 as against Rs 3.38 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales1.263.38 -63 OPM %4.768.58 - PBDT0.060.29 -79 PBT0.060.13 -54 NP0.040.09 -56

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India Cements standalone net profit rises 62.10% in the September 2016 quarter
Nov 19,2016

Net profit of India Cements rose 62.10% to Rs 62.41 crore in the quarter ended September 2016 as against Rs 38.50 crore during the previous quarter ended September 2015. Sales rose 6.67% to Rs 1307.52 crore in the quarter ended September 2016 as against Rs 1225.80 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales1307.521225.80 7 OPM %17.6919.00 - PBDT143.78134.43 7 PBT91.6678.76 16 NP62.4138.50 62

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FM: To ensure future increases in agriculture output and farmers income by 2022, focus should be on higher agriculture productivity
Nov 19,2016

The Union Finance Minister Shri Arun Jaitley said that in order to ensure future increases in agriculture output and double the farmers income by 2022, focus should be on higher agriculture productivity especially in view of the limitation on expanding crop area,. The Finance Minister said it is possible by leveraging technology-especially for high yielding and resistant variety seeds and efficient utilization of water for irrigation, adapt latest IT to increase resilience to nature by phasing sowing, watering and harvesting among others. He said that in order to increase the price benefits to the farmers, it is necessary that the farmers are provided timely market information and developing software applications, both computer and mobile based, that link farmers to consumers. The Finance Minister Shri Jaitley was speaking at his First Pre -Budget Consultative Meeting with the representatives of Agriculture Groups.

The Finance Minister Shri Arun Jaitley further said along with use of latest technology to raise productivity, there is also need to revisit the incentive structure of farming, to focus to reduce wastages and enhance earnings as well as to improve marketing of farm produce. The Finance Minister said that for efficient implementation of the National Agriculture Market, there is need to integrate the more than 550 regulated Mandis in the country by 2017 for which the States need to reform the APMC Act.

Many suggestions were received from the representatives of different Agriculture Groups. Major suggestions include due to demonitisation, there is urgent need to provide sufficient funds to District Cooperative Banks where most of the farmers have their bank accounts, cargo hubs and dry ports should be encouraged in the production centre of agri-products. Other suggestions include it should be made mandatory for Agriculture Universities to start Agriculture Marketing Research Department, new schemes to bail-out farmers from debt be announced in the forthcoming Budget and banks be directed to implement scheme of differential rate of interest to agriculture sector both in letter and spirit among others.

Other suggestions included announcement of awards for those who do new technological innovations in agriculture sector, cold chain provision for horticulture and minor vegetables, higher allocation in Budget for agriculture in the Budget as 52% of Indias population is based on agriculture and allied sector.

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Allied Computers International (Asia) standalone net profit rises 100.00% in the September 2016 quarter
Nov 19,2016

Net profit of Allied Computers International (Asia) rose 100.00% to Rs 0.04 crore in the quarter ended September 2016 as against Rs 0.02 crore during the previous quarter ended September 2015. Sales rose 2750.00% to Rs 3.99 crore in the quarter ended September 2016 as against Rs 0.14 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales3.990.14 2750 OPM %1.2514.29 - PBDT0.050.02 150 PBT0.050.02 150 NP0.040.02 100

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Visa Steel reports standalone net loss of Rs 27.60 crore in the September 2016 quarter
Nov 19,2016

Net Loss of Visa Steel reported to Rs 27.60 crore in the quarter ended September 2016 as against net loss of Rs 155.15 crore during the previous quarter ended September 2015. Sales rose 33.82% to Rs 289.09 crore in the quarter ended September 2016 as against Rs 216.03 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales289.09216.03 34 OPM %0.20-6.24 - PBDT4.20-124.35 LP PBT-27.60-155.15 82 NP-27.60-155.15 82

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