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Logistics stocks in demand as GST set for roll-out on 1 July 2017
Jan 17,2017

Snowman Logistics (up 3.95%), Gati (up 1.99%), Allcargo Logistics (up 1.35%), Gateway Distriparks (up 1.34%), Container Corporation of India (up 0.87%), VRL Logistics (up 0.67%), Blue Dart Express (up 0.51%), TCI Express (up 0.6%) and Aegis Logistics (up 1.03%) edged higher. Sical Logistics (down 0.36%) fell.

Meanwhile, the S&P BSE Sensex was down 52.04 points, or 0.19% at 27,236.13

The Goods and Services Tax (GST) Council yesterday, 16 January 2017 broke a deadlock over issues of administrative control over assessees and broadly agreed to roll out the GST from 1 July 2017, instead of the earlier deadline of 1 April 2017.

The GST council agreed that the Centre would assess 50% of the assessees under Rs 1.5 crore annual turnover and the states the other 50%. As much as 90% of the assessees with less than Rs 1.5 crore annual turnover will come under the states and the balance 10% under the Centre, report added.

On the second contentious issue of levying tax on the high seas or within 12 nautical miles of the coast the GST Council decided to go along with the states, which wanted to retain the power to tax economic activity although it maintained that constitutionally, the Centre had jurisdiction over territorial waters, reports added. For entities with annual turnover above the Rs 1.5 crore threshold, the Centre and states will share control equally but each taxpayer would have to deal with only one agency and be assessed once.

As per reports, the next meeting of the GST Council has been convened on 18 February 2017. By that time, changes to various bills will be worked out and will be ready to be passed by Parliament and state Assemblies. Rules and segment-wise GST rates will take time till March to be finalised.

GST, touted as the single biggest indirect taxation reform since independence, will simplify and harmonise the indirect tax regime in the country. The GST seeks to create a seamless national market in the country by replacing plethora of state taxes and central taxes by one tax. The GST is likely to benefit consumers, produces, and the Government.

Logistics firms could benefit from the removal of inefficiencies in interstate taxation and check posts.

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Asian Oilfield Services gains after winning contract
Jan 17,2017

The announcement was made during trading hours today, 17 January 2017.

Meanwhile, the BSE Sensex was down 48.77 points, or 0.18%, to 27,239.40.

On the BSE, so far 1.66 lakh shares were traded in the counter, compared with average daily volumes of 1.48 lakh shares in the past one quarter. The stock had hit a high of Rs 137.50 and a low of Rs 130.50 so far during the day.

The stock hit a 52-week high of Rs 138.90 on 6 January 2017. The stock hit a 52-week low of Rs 27.90 on 12 February 2016. The stock had outperformed the market over the past 30 days till 16 January 2017, rising 9.71% compared with the 3.01% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 81.49% as against Sensexs 2.72% decline.

The small-cap company has equity capital of Rs 22.32 crore. Face value per share is Rs 10.

Asian Oilfield Services has received letter of award of contract from Oil India for 2D Seismic Data Acquisition in Manipur (Area-1) from the unappraised areas of North East India for an estimated contract value of Rs 142.86 crore. The company has acknowledged the receipt of this letter of award and has initiated the acceptance and execution of the same.

On a consolidated basis, Asian Oilfield Services reported net loss of Rs 11.12 crore in Q2 September 2016 as against net profit of Rs 4.09 crore in Q2 September 2015. Net sales declined 94.72% to Rs 3.09 crore in Q2 September 2016 over Q2 September 2015.

Asian Oilfield Services is engaged in providing geophysical, drilling and well services to customers across the Indian sub-continent.

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Crompton Greaves gains after winning order
Jan 17,2017

The announcement was made during trading hours today, 17 January 2017.

Meanwhile, the BSE Sensex was down 52.01 points, or 0.19%, to 27,236.16.

On the BSE, so far 2.58 lakh shares were traded in the counter, compared with average daily volumes of 6.06 lakh shares in the past one quarter. The stock had hit a high of Rs 65.80 and a low of Rs 64.65 so far during the day.

The stock hit a 52-week high of Rs 88.65 on 18 August 2016. The stock hit a 52-week low of Rs 32.16 on 12 February 2016. The stock had outperformed the market over the past 30 days till 16 January 2017, rising 9.63% compared with the 3.01% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 14.61% as against Sensexs 2.72% decline.

The mid-cap company has equity capital of Rs 125.35 crore. Face value per share is Rs 2.

Crompton Greaves (CG) has won a significant order of $105 million (Rs 720 crore approximately) from PT PLN, the state-owned electricity company of Indonesia, to manufacture and install Power Transformers ranging from 30 MVA, 70/20kV to 500 MVA, 500/150kv. CGs power transformers will be installed across PT PLNs transmission network, spread over multiple substations and power plants in Java, Sumatra, Kalimantan, Sulawesi and the Papua islands of the Indonesian archipelago.

The contract was secured through an open book bid that involves passing through stringent quality checks. The scope of the project includes site survey, design, manufacture, transportation and installation of the transformers.

On a consolidated basis, Crompton Greaves reported net loss of Rs 10.41 crore in Q2 September 2016 as against net profit of Rs 10.58 crore in Q2 September 2015. Net sales rose 4.61% to Rs 1495.16 crore in Q2 September 2016 over Q2 September 2015.

Crompton Greaves (CG) is a global leader in the management and application of electrical energy. CG provides end-to-end solutions that meet all electrical needs of its customers. CGs offerings include electrical products, systems and services for utilities, power generation and industries.

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Ester Industries gains after announcing plans to setup R&D, innovation facility at Gurgaon
Jan 17,2017

The announcement was made after market hours yesterday, 16 January 2017.

Meanwhile, the S&P BSE Sensex was down 28.79 points or 0.11% at 27,259.38

On BSE, so far 1.58 lakh shares were traded in the counter as against average daily volume of 69,708 shares in the past one quarter. The stock hit a high of Rs 52.50 and a low of Rs 50.10 so far during the day.

The stock had hit a 52-week high of Rs 74.25 on 15 January 2016. The stock had hit a 52-week low of Rs 33.95 on 29 February 2016. The stock had outperformed the market over the past 30 days till 16 January 2017, rising 28.21% compared with the 3.01% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 0.4% as against Sensexs 2.72% decline.

The small-cap has equity capital of Rs 41.70 crore. Face value per share is Rs 5.

Ester Industries announced that the company plans to invest Rs 50 crore to set up a research and development (R&D) and innovation complex at Gurgaon. This centre proposes to house 40 scientists/ engineers who will be responsible for researching and developing breakthrough innovations, Ester Industries said.

The company has also recently filed a new patent under PCT for a master batch to produce specialised polyester yarn, Ester Industries said. With this latest filing, the total patent tally becomes nine. The master batch is for a cationic dyeable yarn which offers value advantages both from a quality and cost perspective, the company said. The product offers deeper and darker colours at a far more competitive price, it said. This product has already been approved by some Indian entities and is believed to enjoy strong potential in China and Taiwan, it added.

Speaking on the development, Arvind Singhania, Chairman, Ester Industries said the company has already developed some exciting products that have tremendous potential in various applications. The setting up of R&D centre will enable the company to further enhance and expand its capabilities to innovate with further breakthrough products, Arvind Singhania said.

Ester Industries reported net loss of Rs 5.04 crore in Q2 September 2016 as compared to net profit of Rs 3.97 crore in Q2 September 2015. Net sales dropped 18.94% to Rs 162.03 crore in Q2 September 2016 over Q2 September 2015.

Ester Industries is one of leading producers of polyester films, engineering plastics and speciality polymers.

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TeamLease Services surges after announcing acquisition of Keystone Business Solutions
Jan 17,2017

The announcement was made after market hours yesterday, 16 January 2017.

Meanwhile, the S&P BSE Sensex was down 2.15 points or 0.01% at 27,286.02.

On the BSE, 3,363 shares were traded on the counter so far as against the average daily volumes of 2,634 shares in the past one quarter. The stock had hit a high of Rs 935.80 and a low of Rs 882 so far during the day.

The stock had hit a record high of Rs 1,207.70 on 16 February 2016 and a record low of Rs 790 on 28 April 2016. The stock had underperformed the market over the past one month till 16 January 2017, declining 1.47% compared with the Sensexs 3.01% rise. The scrip had also underperformed the market over the past one quarter declining 14.87% as against the Sensexs 1.39% fall.

The small-cap company has equity capital of Rs 17.10 crore. Face value per share is Rs 10.

TeamLease Services said that it has signed a definitive agreement to acquire 100% shares in Keystone Business Solutions, a company incorporated under Companies Act, 1956 through its wholly owned subsidiary, TeamLease Staffing Services. The proposed acquisition does not fall within related party transaction and the promoters of the company have no interest in the entity proposed to be acquired. The consideration involved in the transaction is Rs 8.2 crore payable in cash. The indicative time period for completion of the acquisition is on or before 31 January 2017.

Keystone Business Solutions was incorporated on 25 June 2009. It offers staffing solutions. It operates through its registered office situated in Bangalore.

TeamLease Services consolidated net profit rose 57.9% to Rs 9.03 crore on 11.6% rise in net sales to Rs 708.67 crore in Q2 September 2016 over Q2 September 2015.

TeamLease Services provides human resource services. Its services span the entire people supply chain of human resources, covering employment, employability and education. Its employment services include staffing solutions, recruitment services and compliance services. The companys employability offerings include different types of learning and training solutions for retail, institutional and enterprise customers.

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Suzlon Energy gains after achieving 10,000 MW installed wind energy milestone
Jan 17,2017

The announcement was made after trading hours yesterday, 16 January 2017.

Meanwhile, the BSE Sensex was up 13.96 points, or 0.05%, to 27,302.13.

On the BSE, so far 44.04 lakh shares were traded in the counter, compared with average daily volumes of 41.76 lakh shares in the past one quarter. The stock had hit a high of Rs 15.83 and a low of Rs 15.45 so far during the day.

The stock hit a 52-week high of Rs 20.70 on 1 February 2016. The stock hit a 52-week low of Rs 12.47 on 9 November 2016. The stock had outperformed the market over the past 30 days till 16 January 2017, rising 5.48% compared with the 3.01% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 5.85% as against Sensexs 2.72% decline.

The mid-cap company has equity capital of Rs 1004.88 crore. Face value per share is Rs 2.

Suzlon Energy achieved the 10,000 megawatts (MW) cumulative wind energy instailations in India (over 7,500 wind turbines installed pan-India). Suzlons 10,000 MW of wind installation is capable of powering over 5 million households per annum and offsets approximately 21.5 million tonnes of Carbon Dioxide (CO2) emission annually which is equivalent to planting over 1500 million trees. With cumulative wind energy installations of over 15,500 MW worldwide, Suzlon operates across 17 countries and has over 1700 customers across the globe.

Suzlon said it will focus on continuous research and development (R&D) to harness technology and reduce levelised cost of energy by increasing plant load factor (PLF) and making low wind sites viable. Suzlon has witnessed an overhaul in terms of technology and its wide range of products is testament towards the same. Suzlons end to end solutions approach and presence across entire value chain from concept to commissioning, proven execution capabilities and dedicated life cycle asset management service provider gives it a strong competitive advantage over its peers, the company added.

On a consolidated basis, Suzlon Energy reported net profit of Rs 237.62 crore in Q2 September 2016 as against net loss of Rs 201.66 crore in Q2 September 2015. Net sales rose 57.30% to Rs 2746.18 crore in Q2 September 2016 over Q2 September 2015.

The Suzion Group is one of the leading renewable energy solutions providers in the world with an international presence across 19 countries in Asia, Australia, Europe, Africa and North and South America. The group has a cumulative installation of approximately 15.5 GW of wind energy capacity.

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Delta Corp gains after securing licence to operate casino in Gangtok
Jan 17,2017

The company is fully ready to commence its casino operations and will do so immediately. The announcement was made after market hours yesterday, 16 January 2017.

Meanwhile, the S&P BSE Sensex was up 59.07 points, or 0.22%, to 27,347.24

On BSE, so far 4.83 lakh shares were traded in the counter, compared with an average daily volume of 8.99 lakh shares in the past one quarter. The stock hit a high of Rs 139.50 and a low of Rs 136.45 so far during the day. The stock hit a record high of Rs 195.20 on 26 October 2016. The stock hit a 52-week low of Rs 49 on 29 February 2016.

The small-cap company has an equity capital of Rs 23.11 crore. Face value per share is Re 1.

Delta Corps consolidated net profit surged 680.87% to of Rs 32.25 crore on 44.55% rise in total income to Rs 135.62 crore in Q2 September 2016 over Q2 September 2015.

Delta Corp holds three offshore gaming licences in Goa and has an integrated casino resort in Daman. The company also has three luxury hotel properties in Goa n++ Deltin Suites, Deltin Palms and Villa Marina by Deltin.

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RIL slips after muted Q3 numbers
Jan 17,2017

The result was announced after market hours yesterday, 16 January 2017. The result is as per Indian Accounting Standards (Ind AS).

Meanwhile, the BSE Sensex was up 73.25 points, or 0.27%, to 27,361.42.

On the BSE, so far 99,000 shares were traded in the counter, compared with average daily volumes of 1.90 lakh shares in the past two weeks. The stock had hit a high of Rs 1,074.70 and a low of Rs 1,055.10 so far during the day.

The stock hit a 52-week high of Rs 1,128.90 on 26 September 2016. The stock hit a 52-week low of Rs 888.50 on 12 February 2016.

On a consolidated basis, Reliance Industries (RIL) profit before depreciation, interest, and taxes (PBDIT) increased by 3.9% to Rs 14215 crore in Q3 December 2016 over Q3 December 2015. Profit before tax increased by 3.7% to Rs 10213 crore in Q3 December 2016 over Q3 December 2015. Cash profit increased by 2.3% to Rs 10586 crore in Q3 December 2016 over Q3 December 2015.

Increase in revenue is primarily on account of increase in prices of refining and petrochemical products led by 13% increase in Brent crude prices. Turnover was also boosted by robust growth in retail business.

Other income rose 12.13% to Rs 2736 crore in Q3 December 2016 over Q3 December 2015, primarily due to higher profit on sale of investments partially offset by lower interest income.

Revenue from the refining and marketing segment increased by 7.5% to Rs 61693 crore in Q3 December 2016 over Q3 December 2015. Segment EBIT fell 4.3% to Rs 6194 crore ($912 million) in Q3 December 2016 over Q3 December 2015 on account of lower volumes and decline in GRMs.

On a standalone basis, GRM for Q3 December 2016 stood at $10.80 a bbl as against $11.5 a bbl in Q3 December 2015. RILs GRM outperformed Singapore complex margins by $ 4.1 a bbl. RIL Jamnagar refineries processed 17.8 MMT in Q3 December 2016, marginally lower over Q2 September 2016. As at the end of the quarter, RIL operated 1,151 petroleum retail outlets in the country.

Outstanding debt as on 31 December 2016 was Rs 194381 crore ($28.6 billion) compared to Rs 180388 crore as on 31 March 2016.

Cash and cash equivalents as on 31 December 2016 were at Rs 76339 crore ($11.2 billion) compared to Rs 89966 crore as on 31 March 2016. These were in bank deposits, mutual funds, CDs and Government Bonds and other marketable securities.

Reliance Industries (RIL) is Indias largest private sector company. RILs activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and telecommunications.

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Sical Logistics extends intraday rally after new order win
Jan 16,2017

The contract has to be performed over a period of four years at a value of Rs 304.92 crore. The announcement was made after trading hours on Friday, 13 January 2017.

Meanwhile, the S&P BSE Sensex was up 52.86 points or 0.19% at 27,290.92

On BSE, so far 68,000 shares were traded in the counter as against average daily volume of 2.31 lakh shares in the past one quarter. The stock hit a high of Rs 239.80 and a low of Rs 222.05 so far during the day.

The stock had hit a 52-week high of Rs 256 on 1 November 2016. The stock had hit a 52-week low of Rs 119 on 12 February 2016. The stock had underperformed the market over the past 30 days till 13 January 2017, rising 2.48% compared with the 2.71% rise in the Sensex. The scrip, however, outperformed the market in past one quarter, rising 22.48% as against Sensexs 1.57% decline.

The small-cap company has equity capital of Rs 55.60 crore. Face value per share is Rs 10.

On a consolidated basis, Sical Logistics net profit rose 113.94% to Rs 7.06 crore on 3.02% growth in net sales to Rs 198.12 crore in Q2 September 2016 over Q2 September 2015.

Sical Logistics is integrated logistics solutions provider providing end to end logistics solutions.

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HDFC Bank gains after large bulk deal
Jan 16,2017

Meanwhile, the S&P BSE Sensex was up 83.33 points or 0.31% at 27,321.39

Bulk deal boosted volume on the scrip. On the BSE, 44.04 lakh shares were traded on the counter so far as against the average daily volumes of 1.38 lakh shares in the past one quarter. The stock had hit a high of Rs 1,247.70 and a low of Rs 1,234.60 so far during the day.

The stock had hit a 52-week high of Rs 1,318.20 on 23 September 2016. The stock had hit a 52-week low of Rs 928.80 on 29 February 2016. The stock had outperformed the market over the past 30 days till 13 January 2017, rising 4.77% compared with the 2.71% rise in the Sensex. The scrip, however, underperformed the market in past one quarter, sliding 2.28% as against Sensexs 1.57% decline.

The large-cap bank has equity capital of Rs 511.07 crore. Face value per share is Rs 2.

HDFC Banks net profit rose 20.41% to Rs 3455.33 crore on 15.27% growth in total income to Rs 19970.89 crore in Q2 September 2016 over Q2 September 2015.

HDFC Bank is one of the leading private sector banks in India. As of 30 September 2016, the banks distribution network was at 4,548 branches and 12,016 ATMs across 2,596 cities/towns.

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LIC Housing Finance gains after good Q3 results
Jan 16,2017

The result was announced during trading hours today, 16 January 2017.

Meanwhile, the BSE Sensex was up 74.71 points, or 0.27%, to 27,312.77.

On the BSE, so far 4.50 lakh shares were traded in the counter, compared with average daily volumes of 2.06 lakh shares in the past one quarter. The stock had hit a high of Rs 541.50 and a low of Rs 531 so far during the day.

The stock hit a record high of Rs 624 on 20 October 2016. The stock hit a 52-week low of Rs 389 on 25 February 2016. The stock had underperformed the market over the past 30 days till 13 January 2017, falling 4.58% compared with the 2.71% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 9.42% as against Sensexs 1.57% decline.

The large-cap company has equity capital of Rs 100.93 crore. Face value per share is Rs 2.

LIC Housing Finance is one of the largest housing finance companies in India.

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Hindustan Copper gains after board approves hiking borrowing limit
Jan 16,2017

The announcement was made during trading hours today, 16 January 2017.

Meanwhile, the BSE Sensex was up 72.91 points, or 0.27%, to 27,310.97.

On the BSE, so far 3.48 lakh shares were traded in the counter, compared with average daily volumes of 3.02 lakh shares in the past one quarter. The stock had hit a high of Rs 69.25 and a low of Rs 67.95 so far during the day.

The stock hit a 52-week high of Rs 73.60 on 22 August 2016. The stock hit a 52-week low of Rs 42.30 on 19 February 2016. The stock had outperformed the market over the past 30 days till 13 January 2017, rising 15.20% compared with the 2.71% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 16.78% as against Sensexs 1.57% decline.

The mid-cap company has equity capital of Rs 462.61 crore. Face value per share is Rs 5.

The board of directors of Hindustan Copper (HCL) approved proposal for increasing borrowing from the consortium banks/other banks by way of overdraft or cash credit, working capital demand loan, bill discounting, other working capital arrangements from existing Rs 250 crore to Rs 550 crore.

Hindustan Coppers net profit fell 8.6% to Rs 6.77 crore on 20.1% decline in net sales to Rs 161.85 crore in Q2 September 2016 over Q2 September 2015.

Hindustan Copper (HCL) is a vertically integrated copper producing company encompassing mining, beneficiation, smelting, refining and casting of refined copper metal. The Government of India holds 82.948% stake in Hindustan Copper (as per shareholding pattern as on 31 December 2016).

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Den Networks leads gainers on BSEs A group
Jan 16,2017

Den Networks rose 6.87% at Rs 86.30. The stock topped the gainers in A group. On the BSE, 3.99 lakh shares were traded on the counter so far as against the average daily volumes of 63,000 shares in the past two weeks.

Manappuram Finance rose 6.05% at Rs 78. The stock was the second biggest gainer in A group. On the BSE, 6.84 lakh shares were traded on the counter so far as against the average daily volumes of 4.54 lakh shares in the past two weeks.

JK Tyre & Industries rose 5.37% at Rs 134.45. The stock was the third biggest gainer in A group. On the BSE, 5.65 lakh shares were traded on the counter so far as against the average daily volumes of 3.08 lakh shares in the past two weeks.

Housing Development & Infrastructure (HDIL) rose 5.20% at Rs 65.80. The stock was the fourth biggest gainer in A group. On the BSE, 30.56 lakh shares were traded on the counter so far as against the average daily volumes of 17.45 lakh shares in the past two weeks.

DLF rose 4.71% at Rs 129.95. The stock was the fifth biggest gainer in A group. On the BSE, 13.98 lakh shares were traded on the counter so far as against the average daily volumes of 11.58 lakh shares in the past two weeks.

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Ramco Systems gains after new order win
Jan 16,2017

The announcement was made during market hours today, 16 January 2017.

Meanwhile, the S&P BSE Sensex was up 22.55 points, or 0.08%, to 27,260.61

On the BSE, 28,000 shares were traded in the counter so far, compared with average daily volume of 48,401 shares in the past one quarter. The stock had hit a high of Rs 383 and a low of Rs 366.60 so far during the day.

The stock had hit a 52-week high of Rs 814 on 3 May 2016. The stock had hit a 52-week low of Rs 286 on 15 December 2016. The stock had outperformed the market over the past 30 days till 13 January 2017, rising 25.07% compared with the 2.71% rise in the Sensex. The scrip, however, underperformed the market in past one quarter, sliding 20.94% as against Sensexs 1.57% decline.

The small-cap aviation software provider has equity capital of Rs 30.34 crore. Face value per share is Rs 10.

Logistics conglomerate, the Transworld Group, announced that it has chosen Ramco Systems HCM and Payroll offering to automate its Human Resources hire-to-retire functionality on a single unified platform. Ramco HCM with Global Payroll will cover the entire gamut of HR processes along with Core HR, Recruitment, Talent Management, Leave, Time & Attendance and Payroll for over 1000 employees of the company.

Commenting on the win, Virender Aggarwal, CEO, Ramco Systems said that the companys HCM offering has witnessed massive traction in Middle East across verticals and is continuing to grow winning the trust of leading business conglomerates. Ramco HCM with features like Mobility and Chatbots, will play a pivotal role in digitizing HR processes and improving time-bound operations of the company, Virender Aggarwal said.

Ramco Systems reported consolidated net loss of Rs 1.17 crore in Q2 September 2016 compared with consolidated net profit of Rs 0.9 crore in Q1 June 2016. Consolidated net sales rose 2.48% to Rs 112.39 crore in Q2 September 2016 over Q1 June 2016.

Ramco Systems is an enterprise software player offering multi-tenanted cloud and mobile-based enterprise software in the area of HCM and Global Payroll, ERP and M&E MRO for Aviation.

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GE Shipping gains on plan to raise Rs 500 crore via NCDs
Jan 16,2017

The announcement was made during trading hours today, 16 January 2017.

Meanwhile, the BSE Sensex was up 24.02 points, or 0.09%, to 27,262.08.

On the BSE, so far 1,435 shares were traded in the counter, compared with average daily volumes of 19,449 shares in the past one quarter. The stock had hit a high of Rs 387.30 and a low of Rs 384.55 so far during the day.

The stock hit a 52-week high of Rs 397.60 on 1 November 2016. The stock hit a 52-week low of Rs 275 on 2 March 2016. The stock had outperformed the market over the past 30 days till 13 January 2017, rising 4.03% compared with the 2.71% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 2.30% as against Sensexs 1.57% decline.

The mid-cap company has equity capital of Rs 150.78 crore. Face value per share is Rs 10.

Great Eastern Shipping Company (GE Shipping) said that the debenture issue committee at its meeting held on 16 January 2017 has approved the issue of 5,000 unsecured non-convertible debentures (NCDs) of Rs 10 lakh each, aggregating to Rs 500 crore by way of private placement. The NCDs are offering interest rate of 7.99% per annum.

On a consolidated basis, net profit of GE Shipping declined 23.99% to Rs 268.75 crore on 21.12% decline in net sales to Rs 794.51 crore in Q2 September 2016 over Q2 September 2015.

GE Shipping has two main business: shipping and offshore. The shipping business is involved in transportation of crude oil, petroleum products, gas and dry bulk commodities. The offshore business services to the oil companies in carrying out offshore exploration and production activities, through its subsidiary Greatship (India).

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