India's largest stainless steel maker Jindal Stainless (Hisar) Ltd (JSHL) today reported a standalone net loss of Rs 1.27 crore for the October-December quarter of 2015-16.
The company's total standalone income stood at Rs 1,484.23 crore in the quarter, JSHL said in a BSE filing.
Total expenses of the company stood at Rs 1,388.04 crore in the quarter under review.
Last year, Jindal Stainless Ltd got all the approvals to restructure its businesses. The objective of the scheme which got the board approval in December 2015 is to unlock the value for shareholders to increase profitability, reduction of the debt and improvement of the serviceability of the debt.
The company's rejig plan included demerger and listing of a subsidiary (JSHL) on the domestic bourses. JSHL started trading on BSE and NSE from January 28, 2016.
On account of the scheme, the comparative figures for the December quarter in 2014-15 are not available.
In a separate filing, JSHL said: its board of Directors at a meeting held on February 1, 2016, has approved issuance of Compulsory Convertible Warrants (CCW) to promoter/promoter group for an aggregate amount of up to Rs 25 crore on a private placement basis by way of a preferential allotment.
This is subject to approval of shareholders and compliance with applicable Sebi regulations, it added.
Jindal Stainless Hisar shares today closed 4.95 per cent down at Rs 33.60 apiece on the BSE.
This engagement must go beyond the deliberation
and policy discourse led by the governments. As socially conscious academic institutions, the two Universities want to produce tangible research outcomes that can influence government policy.
The MOUs were inked this week between O.P. Jindal Global University Vice Chancellor, Prof. (Dr.) C. Raj Kumar and Prof. CAO Heping, Dean School of Economics, Department of Environment, Resources and Development Economics, Peking University on behalf of the institutions.
"India and China together constitute a bulk of humanity with 40% of the global population. As two of the world's fastest-growing economies, these nations are also drivers of the global economy. The two nations also face enormous environmental challenges that have the potential to make growth unsustainable. From declining soil fertility to unbreathable air and contaminated water, the problems faced by the two countries are quite similar. Our collaboration will foster indigenous research on environmental issues, and through facts and outcomes would try to influence policy making," says O.P. Jindal Global University Vice Chancellor, Prof. (Dr.) C. Raj Kumar.
The joint initiative will involve cross-learning exchange programs for students with extensive and diversified joint research within China and India, focusing on key environmental challenges faced by these communities. Students from India will travel to different Chinese provinces, while students from China will travel to different Indian states to study first-hand the environmental degradation and related challenges faced by the local communities.
