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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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Munjal Auto Industries advances after posting strong Q4 results
May 23,2017

The result was announced after market hours yesterday, 22 May 2017.

Meanwhile, the S&P BSE Sensex was down 159.39 points or 0.52% at 30,399.74. The S&P BSE Small-Cap index was down 337.41 points, or 2.24%, to 14,716.73.

High volumes were witnessed on the counter. On the BSE, 66,782 shares were traded in the counter so far as against average daily volume of 17,961 shares in the past one quarter. The stock had hit a high of Rs 113 and a low of Rs 109 so far during the day. The stock had hit a 52-week high of Rs 117.80 on 27 October 2016. The stock had hit a 52-week low of Rs 76 on 24 June 2016.

The stock had underperformed the market over the past one month till 22 May 2017, rising 2.4% compared with the Sensexs 4.11% rise. The scrip had, however, outperformed the market in past one quarter, rising 9.99% as against the Sensexs 5.91% rise.

The small-cap company has equity capital of Rs 10 crore. Face value per share is Rs 2.

Munjal Auto Industries board of directors recommended final dividend of Rs 2 per share for the financial year ended 31 March 2017 (FY 2017).

The board also recommended 1:1 bonus issue of shares.

Munjal Auto Industries is a auto component manufacturing company in India.

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Tata Power provides update on performance of renewable business
May 23,2017

Tata Power announced that its Renewable business registered a healthy profit while surpassing the 2000 MW operating capacity mark with another about 500 MW under construction. In keeping with its commitment to generate 30% to 40% power by 2025 through renewable sources of energy, the company added 1350 MW of renewable capacity during the year thereby making it largest green portfolio company in India.

Tata Powers non-fossil fuel based green generation portfolio (comprising of hydro, waste gas, solar and wind) crossed the 3000 mark and stands at 3141 MW.

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Sun Pharma slumps as Taro reports weak Q4 results
May 23,2017

Meanwhile, the S&P BSE Sensex was down 148.97 points or 0.49% at 30,422.

On the BSE, 6.77 lakh shares were traded on the counter so far as against the average daily volumes of 3.52 lakh shares in the past one quarter. The stock had hit a high of Rs 631 and a low of Rs 589.20 so far during the day.

The stock had hit a 52-week high of Rs 854.50 on 5 August 2016 and a 52-week low of Rs 572.40 on 9 November 2016. It had underperformed the market over the past one month till 22 May 2017, advancing 0.03% compared with the Sensexs 4.11% rise. The scrip had also underperformed the market over the past one quarter, declining 4.5% as against the Sensexs 5.91% rise.

The large-cap company has equity capital of Rs 239.93 crore. Face value per share is Rs 1.

Taro Pharmaceutical Industries (Taro) net profit fell 27.82% to $83 million on 25.9% decrease in net sales to $196.40 million in Q4 March 2017 over Q4 March 2016. The drop in net sales is due to continuing increased competition and the challenging pricing environment.

On a consolidated basis, Sun Pharmaceuticals Industries net profit declined 11.2% to Rs 1721.85 crore on 8.4% rise in net sales to Rs 7683.24 crore in Q3 December 2016 over Q3 December 2015.

Sun Pharma is a specialty generic pharmaceutical company and Indias top pharmaceutical company.

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Lower Tax Incidence on Entertainment Services under Goods and Services (GST) Tax
May 23,2017

Taxes on entertainments and amusements (covered by the erstwhile entry 62 of State List of the Constitution) have been subsumed under Goods and Services Tax (GST) except to the extent of taxes on entertainments and amusements levied by a Panchayat or a Municipality.

The rate of GST approved by GST Council on services by way of admission to entertainment events or cinematography films in cinema theatres is 28%. However, the entertainment tax rates in respect of exhibition of cinematography films in theaters/cinema halls, currently levied by States are as high as 100% in some of the States.

The rate of entertainment tax on cable TV and Direct-To-Home (DTH) levied by States is in the range of 10%-30% in many States. Apart from this, Service tax is also leviable at the rate of 15%. As against this, the rate of GST approved by GST Council on these services is 18%.

The rate of GST approved by GST Council on access to circus, theatre, Indian classical dance including folk dance and drama is 18% ad valorem. Further, the GST Council has approved an exemption upto a consideration for admission of Rs 250 per person. These services currently attract entertainment tax levied by the States.

Thus, entertainment services shall suffer a lower tax incidence under GST. In addition to the benefit of lower headline rates of GST, the service providers shall be eligible for full input tax credits (ITC) of GST paid in respect of inputs and input services. Presently, such service providers are not eligible to avail of input credits in respect of VAT paid on domestically procured capital goods & inputs or of Special Additional Duty (SAD) paid on imported capital goods and inputs. Thus, while GST is a value added tax, entertainment tax, presently levied by the States is like a turnover tax.

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Mineral Production was 9.7% higher for March 2017 compared with March 2016
May 23,2017

The index of mineral production of mining and quarrying sector for the month of March (new Series 2011-12=100) 2017 at 127.2, was 9.7% higher as compared to the level in the month of March 2016. The cumulative growth for the period April- March 2016-17 over the corresponding period of previous year has been (+) 5.3 percent.

The total value of mineral production (excluding atomic & minor minerals) in the country during March 2017 was Rs. 26350 crore. The contribution of Coal was the highest at Rs. 11658 crore (44%). Next in the order of importance were: Petroleum (crude) Rs. 5616 crore, Iron ore Rs. 2960 crore, Natural gas (utilized) Rs. 2214 crore, Lignite Rs. 996 crore and Limestone Rs. 639 crore. These six minerals together contributed about 91% of the total value of mineral production in March 2017.

Production level of important minerals in March 2017 were: Coal 770 lakh tonnes, Lignite 55 lakh tonnes, Natural gas (utilized) 2677 million cu. m., Petroleum (crude) 31 lakh tonnes, Bauxite 1875 thousand tonnes, Chromite 793 thousand tonnes, Copper conc. 13 thousand tonnes, Gold 127 kg., Iron ore 196 lakh tonnes, Lead conc. 31 thousand tonnes, Manganese ore 298 thousand tonnes, Zinc conc. 181 thousand tonnes, Apatite & Phosphorite 108 thousand tonnes, Limestone 304 lakh tonnes, Magnesite 17 thousand tonnes and Diamond 5026 carat.

The production of important minerals showing positive growth during March 2017 over March 2016 include: Chromite (85.4%), Zinc conc. (41.4%), Diamond (25.5%), Apatite & Phosphorite (17.0%), Manganese ore (12.3%), Iron ore (11.7%), Lead conc. (11.5%), Coal (10.9%), Natural gas (utilized) (9.9%), Limestone (4.2%) and Petroleum (crude) (0.9%). The production of other important minerals showing negative growth are: Magnesite [(-) 34.7%], Gold [(-) 13.6%], Copper conc. [(-) 6.5%], Lignite [(-) 4.2%] and Bauxite [(-) 4.0%].

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KG Petrochem to hold board meeting
May 23,2017

KG Petrochem will hold a meeting of the Board of Directors of the Company on 30 May 2017, to consider and approve the Audited Financial Results of the Company for the Fourth Quarter and year ended on 31st March 2017.

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Gayatri Sugars to hold board meeting
May 23,2017

Gayatri Sugars will hold a meeting of the Board of Directors of the Company on 27 May 2017, to approve the Audited Financial Results/Statements for the quarter and year ended March 31, 2017, to fix date, time and place of the 22nd Annual General Meeting of the Company and to approve the draft notice of the same, and any other business.

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Hypersoft Technologies to hold board meeting
May 23,2017

Hypersoft Technologies will hold a meeting of the Board of Directors of the Company on 27 May 2017, to consider and approve Audited Financial Statements for the financial year ended March 31, 2017.

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Cybermate Infotek to hold board meeting
May 23,2017

Cybermate Infotek will hold a meeting of the Board of Directors of the Company on 29 May 2017, to consider and approve the Audited Results and Limited Review Report for the period ended 31st March 2017.

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Jagran Prakashan to hold board meeting
May 23,2017

Jagran Prakashan will hold a meeting of the Board of Directors of the Company on 29 May 2017, to consider and approve the Standalone and Consolidated Audited financial results for the quarter/year ended 31st March, 2017.

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Sanmit Infra to hold board meeting
May 23,2017

Sanmit Infra will hold a meeting of the Board of Directors of the Company on 29 May 2017, to consider inter alia the Audited Financial Results of the company for the year ended 31st March, 2017.

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Avantel to hold board meeting
May 23,2017

Avantel will hold a meeting of the Board of Directors of the Company on 30 May 2017, to consider the audited financial results for the quarter and year ended March 31, 2017.

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Sofcom Systems to hold board meeting
May 23,2017

Sofcom Systems will hold a meeting of the Board of Directors of the Company on 29 May 2017, to consider and approve the audited financial results of the Company for the quarter and year ended 31st March 2017.

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Sreeleathers to hold board meeting
May 23,2017

Sreeleathers will hold a meeting of the Board of Directors of the Company on 27 May 2017, to consider, approve and take on record Audited Financial Results of the Company (Standalone) for the Quarter and Year ended March 31, 2017.

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Filtra Consultants & Engineers to hold board meeting
May 23,2017

Filtra Consultants & Engineers will hold a meeting of the Board of Directors of the Company on 29 May 2017, to consider and approve the Annual Financial Statement of the Company for the financial year ended March 31, 2017, to consider and approve the Audited Financial Results of the Company for the half year ended and financial year ended March 31, 2017 , to consider recommendation of final dividend to the members of the Company, and to consider issue of bonus shares.

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