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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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Speciality Restaurants gains on pact to open restaurants
Jul 13,2017

The announcement was made after market hours yesterday, 12 July 2017.

Meanwhile, the S&P BSE Sensex was up 198.61 points or 0.62% at 32,003.43. The S&P BSE Small-Cap index advanced 81.05 points or 0.51% at 15,978.06.

On the BSE, 6,527 shares were traded on the counter so far as against the average daily volumes of 39,903 shares in the past one quarter. The stock had hit a high of Rs 123.50 and a low of Rs 120.50 so far during the day. The stock had hit a 52-week high of Rs 124.65 on 7 July 2017 and a record low of Rs 59.50 on 15 March 2017.

The stock had outperformed the market over the past one month till 12 July 2017, surging 48.61% compared with the Sensexs 2.28% rise. The stock had also outperformed the market over the past one quarter, advancing 36.07% as against the Sensexs 7.29% rise. The scrip had also outperformed the market over the past one year, gaining 23.89% as against the Sensexs 14.37% rise.

The small-cap company has equity capital of Rs 46.96 crore. Face value per share is Rs 10.

Speciality Restaurants said it has entered into a franchise agreement on 11 July 2017 with Resolute Restaurant Management LLC (the franchisee), granting the latter right to open three franchise restaurants under brand Mainland China Asia Kitchen in United Arab Emirates within the time stipulated in the franchise agreement. First franchise restaurant will be opened at BurJuman Mall, New Wing, in Dubai, United Arab Emirates. The company will manage the day-to-day operations of restaurant and charge franchise fees and management fees, in accordance with the terms of the franchise agreement.

Speciality Restaurants reported net loss of Rs 9.71 crore in Q4 March 2017, higher than net loss of Rs 4.03 crore in Q4 March 2016. Net sales declined 8% to Rs 69.49 crore in Q4 March 2017 over Q4 March 2016.

Speciality Restaurants is the owner of restaurant brands like Mainland China, Flame & Grill, Machaan, Oh! Calcutta, Sigree and Haka.

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Patel Integrated Logistics allots 6,49,311 equity shares
Jul 13,2017

The Board of Directors of Patel Integrated Logistics at its meeting held on 12 July 2017 inter alia approved allotment of 6,49,311 Equity Shares of face value of Rs.10/- each on conversion of same no. of Convertible Equity Warrants fully paid up at an issue price for Rs. 115/- (including premium of Rs.105/-) per Equity Warrant by the Company on preferential basis to Strategic Investor, Frontline Strategy, a company registered in Mauritius, not forming part of the Promoter Group of the Company in terms of SEBI (ICDR) Regulations, 2009 and as per special resolution passed by the members at their Extra Ordinary General Meeting held on 28 December 2015.

Consequent to such allotment, the Paid-up Equity Share Capital of the Company has increased from Rs.15,88,66,120/- consisting of 1,58,86,612 equity shares of Rs.10/- each to Rs. 16,53,59,230/- consisting of 1,65,35,923 equity shares of Rs.10/- each.

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Board of Cadila Healthcare appoints MD and COO
Jul 13,2017

The Board of Directors of Cadila Healthcare approved the appointment of Dr Sharvil P Patel as Managing Director of the Company. The Board approved the appointment of Ganesh Nayak as Whole Time Director who is designated as Chief Operating Officer and Executive Director of the Company. Current, Chairman and Managing Director Pankaj Patel, will continue as the Chairman of the Company, he has stepped down as the Managing Director.

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Religare Enterprises withdraws rating assigned to Commercial Paper
Jul 13,2017

Religare Enterprises announced that it has withdrawn its short-term rating [ICRA]A1+ assigned by ICRA to the Rs. 700 crore commercial paper/short term debt programme of the Company as there is no amount outstanding against the rated instruments for this rating and the Company does not intend to use the same in near future.

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Yes Bank allots 1,40,950 equity shares
Jul 13,2017

Yes Bank has allotted 1,40,950 equity shares on 12 July 2017 under ESOP. The paid up share capital has accordingly increased to Rs 457.63 crore comprising of 45,76,35,440 equity shares of Rs 10 each.

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TCS to be watched ahead of Q1 earnings
Jul 13,2017

IT major TCS is slated to announce Q1 June 2017 results today, 13 July 2017.

Chambal Fertilisers and Chemicals said that it has delivered the ship - Ratna Shalini to the buyer on 11 July 2017. Earlier in May 2017, the company announced that it executed a memorandum of agreement with Rialto Navigation S.A., Liberia for sale of the ship - Ratna Shalini for a consideration of $24.5 million. The announcement was made after market hours yesterday, 12 July 2017.

Tata Global Beverages will be watched. The stock exchanges sought clarification from the company with respect to news item titled, Tata Global Beverages to divest stake in groups firms to parent. Tata Global Beverages clarified after market hours yesterday, 12 July 2017, that it has not taken any decision on the matters mentioned in the media report and the news item is therefore speculative in nature.

Speciality Restaurants said it has entered into a franchise agreement on 11 July 2017 with Resolute Restaurant Management LLC (the franchisee), granting the latter right to open three franchise restaurants under brand Mainland China Asia Kitchen in United Arab Emirates within the time stipulated in the franchise agreement. First franchise restaurant will be opened at BurJuman Mall, New Wing, in Dubai, United Arab Emirates.

The company will manage the day-to-day operations of restaurant and charge franchise fees and management fees, in accordance with the terms of the franchise agreement. The announcement was made after market hours yesterday, 12 July 2017.

Bharti Airtel turns ex-dividend today, 13 July 2017, for dividend of Rs 1 per share for the year ended March 2017.

Mahindra & Mahindra turns ex-dividend today, 13 July 2017, for dividend of Rs 13 per share for the year ended March 2017.

Reliance Industries turns ex-dividend today, 13 July 2017, for dividend of Rs 11 per share for the year ended March 2017.

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IIP growth slows to 1.7% in May 2017
Jul 12,2017

Indias industrial production (base year 2011-12=100) increased at slower pace of 1.7% in May 2017 over May 2016. The manufacturing sectors production rose 1.2% in May 2017. Meanwhile, the electricity generation galloped 8.7%, but mining output declined 0.9% in May 2017. The growth for April 2017 has been revised downwards to 2.8% from 3.1% reported earlier.

As per the use-based classification, primary goods output improved 3.4% in May 2017 over a year ago, but the output of capital goods continued to decline for second straight month at (-) 3.9%. Intermediate goods output rose mere 0.7%, while the output of Infrastructure/ construction goods also moved up at subdued pace of 0.1%. The output of consumer non-durable durables increased 7.9%, but that of consumer durable goods declined for sixth straight month at 4.5% in May 2017 over May 2016.

In terms of industries, twelve out of the 23 industry groups in the manufacturing sector have shown positive growth in May 2017 as compared to the corresponding month of the previous year.

The industry group pharmaceuticals, medicinal chemical and botanical products has shown the highest positive growth of 24.5% followed by 24.4% in other manufacturing and 11.8% in other transport equipment. On the other hand, the industry group beverages has shown the highest negative growth of (-) 16.5% followed by (-) 15.1% in motor vehicles, trailers and semi-trailers and (-) 15.0% in electrical equipment.

Some important items showing high positive growth during the current month over the same month in previous year include digestive enzymes and antacids 90.5%, textile machinery 51.8%, meters electric and non-electric 48.7%, jewellery of gold studded with stones or not 36.7%, industrial valves of different types- safety, relief and control valvesnon-electronic, non-electrical 32.8%, telephones and mobile instruments 29.2%, aluminium billets/ingots 23.6% and tea 21.8%.

Some important items that have registered high negative growth include api & formulations of hypo-lipidemic agents incl. Anti-hyper-triglyceridemics; anti-hypertensive (-) 72.8%, air filters (-) 63.7%, shelled cashew kernel, whether or not processed/ roasted/ salted (-) 63.3%, axle (-) 47.0%, plastic jars, bottles and containers (-) 41.1%, kerosene (-) 40.6%, rice (excluding basmati) (-) 36.1%, tooth paste (-) 33.8%, api & formulations of vitamins (-) 32.0%, electrical apparatus for switching or protecting electrical circuits (-) 29.5%, commercial vehicles (-) 26.5% and beer & other undistilled and fermented alcoholic liqueurs other than wines (-) 24.9%.

Industrial production rose 2.2% in April-May FY2018, compared with 7.3% growth in the corresponding period last year. The manufactured product sector output improved 1.8%, while the mining and electricity generation moved up 1.1% and 7.1% in April-May FY2018.

Contribution to growth

Indias industrial production improved 1.72% in May 2017 over May 2016. The manufacturing sectors output improved 1.2% contributing to the growth in industrial production with a share of 95 basis points (bps). The electricity generation increased 8.7% contributing positively by 83 bps to the IIP growth, while the mining output declined 0.9% in May 2017, serving the IIP with a negative share of (-) 11 bps.

Among the 23 manufacturing industries group, industry group pharmaceuticals, medicinal chemical and botanical products at 182 bps, had the largest positive contribution in the 1.72% growth in the overall IIP, followed by coke and refined petroleum products at 61 bps, and the machinery and equipment group at 36 bps in May 2017. Industry group other transport equipment had a positive share of 21 bps, while other manufacturing at 20 bps, and computer, electronic and optical products at 18 bps, also served IIP with negative contribution in May 2017. Industry groups basic metals at 4 bps, leather and related products 3 bps and furniture 2 bps also had a positive contribution in May 2017.

About 12 groups out of 22 industry groups increased their output in May 2017, serving the IIP growth with positive contribution. These 12 groups had a positive contribution of 348 bps together to the IIP growth. These 12 groups together carry a weight of 40.9% in the IIP.

On the other hand, industry group motor vehicles, trailers and semi-trailers at (-) 71 bps, had the largest negative contribution to IIP growth in May 2017, followed by electrical equipment (-) 46 bps, chemicals and chemical products (-) 44 bps, fabricated metal products, except machinery and equipment (-) 33 bps, and beverages (-) 20 bps in May 2017. Industry group wearing apparel at (-) 14 bps, textiles (-) 12 bps, and food products (-) 7 bps, also served IIP with negative contribution in May 2017.

About 11 industry groups recorded a positive growth in May 2017, contributing positively to the IIP growth. These 11 groups had a positive contribution of (-) 257 bps together to the IIP growth in May 2017. These 11 groups carry a weight of 36.7% together in the IIP.

As per the use-based classification, primary goods contribution to the IIP growth of 1.7% was positive, at 111 bps, but capital goods served IIP, with a negative share of (-) 26 bps in May 2017. The contribution of intermediate goods was positive at 11 bps. The contribution of consumer goods remained negative at (-) 62 bps in the IIP growth, while the contribution of consumer non-durables goods was positive at 129 bps and infrastructure/ construction goods at 1 bps in May 2017.

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BEML signs MoU with National Law School of India University
Jul 12,2017

BEML has signed a Memorandum of Understanding with National Law School of India University for capacity enhancement. By this MoU, BEML would avail the services of NLSIU inter alia for improved qualitative business documentations including Legal Consultancy Services.

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Omaxe announces resignation of director
Jul 12,2017

Omaxe announced that Lt. Gen. (Retd.) Bhupinder Singh, Independent Director has resigned from the Board of Directors on 12 July 2017.

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Kirloskar Ferrous Industries suspends operations of Mini Blast Furnance at Koppal Plant
Jul 12,2017

Kirloskar Ferrous Industries announced that one Mini Blast Furnance at Koppal plant has been suspended temporarily from 12 July 2017 onwards due to market condition.

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Kumaka Industries appoints company secretary
Jul 12,2017

Kumaka Industries has appointed Ankita Gupta as Company Secretary with effect from 12 July 2017.

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MSR India bags work order
Jul 12,2017

MSR India has bagged Rs 2 crore work order from Silicon CNC Profiles on behalf of Bharat Dynamics, Govt. of India.

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Minister of Railways Shri Suresh Prabhakar Prabhu launched various Railway initiatives
Jul 12,2017

Minister of Railways Shri Suresh Prabhakar Prabhu launched the following Initiatives:-

1. RAIL CLOUD PROJECT.

2. NIVARAN-Grievance Portal (First IT Application on Rail Cloud).

3. Cashless treatment Scheme in Emergency (CTSE) Scheme and Handing over of 1st CTSE Card.

Minister of State for Railways Shri Rajen Gohain was specially present to grace the occasion. Member Staff, Shri A.K.Mital, other Railway Board Members and senior officials were also present on the occasion. Ministry of Railways has launched the RailCloud project in association with its PSU, RailTel Corporation of India Limited.

Speaking on the occasion, Minister of Railways Shri Suresh Prabhakar Prabhu said, n++gEfforts are being made to bring entire Railway system on Integrated dIGITAL Platform. RailCloud is another step towards Digitization of Railways. Rail Cloud works on popular Cloud Computing system. Most Important works are done through Cloud Computing. Also, this is going to reduce the cost & data may be safely ensured on the servers. Also, another important step is Cashless Treatment Scheme in Emergency. Life Expectancy has increased, so many health problems have evolved. This scheme would improve health care facilities of Railway employees.n++h

Salient Features of the Initiatives Launched:

1.RailCloud

Indian Railway has started a strategic IT initiative, christened IR-OneICT, for enterprise wide digital single platform with an aim to improve customer satisfaction, improve revenue and effective, efficient and safe operations. To achieve the goal of single digital platform for IR a few foundational projects need to be implemented first, establishment of RailCloud is one such project. Cloud Computing is the emerging technology for faster and on demand commensurate deployment of Server resources which result in reduced cost. Accordingly, RailCloud Phase-I has been sanctioned at the cost of Rs. 53.55 Cr under PH-17, DF(3) in FY 17-18. Potential benefits to Railways after implementation of RailCloud are:

n++n++ Faster and on-demand deployment of application- RailCloud will pave the way for swifter deployment of application (within 24 hrs as compared to conventional time running into weeks and months). At the same time the cloud hardware and environment will be available for rigorous testing of the new applications.

n++n++ Optimum use of Servers and storage- The technology enables maximising the usage of the available server and storage resulting in accommodation of bigger data and more applications within same server space.

n++n++ Utilization of existing infrastructure as part of Cloud- The existing resources available with railway will be subsumed in RailCloud thereby ensuring that expenditure is minimized in acquiring new resources.

n++n++ Rapid scalability and elasticity- Server and storage space will scale up and down as per the demand. This makes the system suitable to meet the higher demand at peak hours with less expenditure.

n++n++ IT Security enhancement and Standardization: The cloud shall be equipped with security features as per the latest GOI guidelines, the security features can be updated in one go for all the applications hosted on the cloud, resulting in enhanced security and stability with less expenditure and effort.

n++n++ Cost reduction: The server and storage infrastructure will be deployed as per the requirement, resulting in substantial savings to railway as expenditure will be incurred as and when required instead of upfront shelling out money on procurement of expensive servers.

n++n++ Better User Experience: In Cloud, the server resources are constantly scaled up or down as per the no. of users logged on to the system. This ensures a better user experience to the customer.

The Managed Network and Virtual Desktop Interface (VDI) services are also being planned, in near future, for providing faster and more efficient work environment to each rail worker.

2. NIVARAN-Grievance Portaln++fFirst IT application on RailCloud

n++eNIVARAN-Grievance Portaln++f is the first IT application to be launched on the RailCloud. It is the platform for resolution of service related grievances of serving and former railway employees. The existing application was hosted on a conventional server; it has been made cloud-ready and being migrated as the first cloud application of Indian Railways. It will save significant revenue and at the same time user experience will also improve.

3. Cashless treatment Scheme in Emergency (CTSE)

Railway provides Comprehensive Health Care Facilities to its beneficiaries through in-house health Institutions, supplementing with referrals to recognized hospitals whenever necessary. The beneficiaries include retired employees and their dependent family members. Large no. of retired beneficiaries lives in the newly developed suburbs of various cities. These parts of the city are often far away from the established Railway Health Institutions. In this scenario the RELHS beneficiaries coming to Railway Health Institutions in routine is acceptable, however in emergency situations, precious time (Golden Hour) is lost in travel.

To provide immediate care to its retired employees in n++eGolden Hourn++f Railway Board has decided to roll out a n++gCashless treatment Scheme in Emergencyn++f (CTSE), in empanelled hospitals, for retired employees and their dependent family members. A web based system of communication between private hospitals and railway authorities has been developed wherein identity of the beneficiary shall be established using biometrics stored in Aadhar (UIDAI) server, eligibility shall be determined using Railway Data Base and emergency shall be verified by Railway Medical Officer based on private hospitaln++fs clinical report. The whole system is online and even the bill processing shall be online. This scheme shall provide help and succor to the retired railway employees at the time of need and at the same time will have a morale boosting effect on the serving employees.

The Scheme fulfils both the avowed objectives of the GOI; utilizing IT tools to cut the red-tape and promoting cashless transactions.

Rather than creating a separate time and resource consuming vertical the scheme has used the existing resources by bringing on board the UIDAI and ARPAN database. Railway has not incurred any capital expenditure on the scheme, M/s UTIITSL has developed the software in consultation with Railway and shall be paid on per bill processed basis. The online processing will ensure swifter disposal of bills in a transparent manner.

At present the scheme has been rolled out in four metro cities of Delhi, Mumbai, Kolkata and Chennai, based on the experience of this pilot the scheme may be extended to the whole of country.

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IndusInd Bank allots 18,965 equity shares
Jul 12,2017

IndusInd Bank has allotted 18,965 equity shares of Rs. 10/- (Rupees Ten Only) each on July 12, 2017 to those grantees who had exercised their option under the Companys Employee Stock Option Scheme.

The said shares will rank pari-passu with the existing shares of the Company in all respect.

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CPI inflation dips to 1.54% in June 2017
Jul 12,2017

The all-India general CPI inflation dipped to fresh record low of 1.54% in June 2017 (new base 2012=100), compared with 2.18% in May 2017. The corresponding provisional inflation rate for rural area was 1.59% and urban area 1.41% in June 2017 as against 2.30% and 2.13% in May 2017. The core CPI inflation eased to 3.75% in June 2017 from 4.14% in May 2017. The cumulative CPI inflation was lower at 2.23% in April-June FY2018 compared with 5.67% in April-June FY2017.

Among the CPI components, inflation of food and beverages dipped to (-) 1.17% in June 2017 from (-) 0.22% in May 2017 mainly contributing to the dip in CPI inflation. Within the food items, the inflation slipped for Vegetables to (-) 16.53%, pulses and products (-) 21.92%, cereals and products 4.39%, spices (-) 0.73% and milk and products 4.15%. The inflation also declined for prepared meals, snacks, sweets etc to 4.92%, sugar and confectionery 8.74%, oils and fats 2.34% and egg (-) 0.08%. However, the inflation rose for meat and fish to 3.49%, fruits 1.98% and non-alcoholic beverages 2.81% in June 2017.

The inflation for housing declined to 4.70%, while that for miscellaneous items dipped to 3.29% in June 2017. Within the miscellaneous items, the inflation for transport and communication eased to 2.01%, education 4.39%, health 3.55% and household goods and services 3.80%, while it rose slightly for personal care and effects to 3.43% in June 2017.

The inflation for clothing and footwear eased to 4.17% in June 2017, while the CPI inflation of fuel and light was flat at 4.54% in June 2017.

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