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Bayer to acquire Monsanto in all cash transaction

Bayer to acquire Monsanto in all cash transaction

Sep 14,2016

Monsanto India announced that Bayer and Monsanto signed definitive agreement under which Bayer will acquire Monsanto for USD 128 per share in an all cash transaction.

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Board of Scanpoint Geomatics to consider rights issue
Dec 08,2016

Scanpoint Geomatics announced that the meeting of the Board of Directors of the Company will be held on 14 December 2016, to consider and accord a fresh approval to issue equity shares on right basis.

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Board of Power Grid Corporation of India to consider private placement of NCDs
Dec 08,2016

Power Grid Corporation of India announced that a meeting of Committee of Directors for Bonds is planned to be held on 14 December 2016 to consider issue of Secured, Redeemable, Non-Convertible, Non-Cumulative, Taxable Bonds (Debenture) under private placement.

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Board of Banco Products (India) decideds to drop proposal for buyback of shares
Dec 08,2016

Banco Products (India) announced that the Board of Directors of the Company at its meeting held on 08 December 2016 decided to drop the proposal of buyback of equity shares of the Company and decided not to further proceed with the proposal of buyback of equity shares of the Company.

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Board of Banco Products (India) decides to drop proposal for buyback of shares
Dec 08,2016

Banco Products (India) announced that the Board of Directors of the Company at its meeting held on 08 December 2016 decided to drop the proposal of buyback of equity shares of the Company and decided not to further proceed with the proposal of buyback of equity shares of the Company.

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FPIs step up buying
Dec 08,2016

Foreign portfolio investors (FPIs) bought stocks worth a net Rs 229.95 crore from the secondary equity markets on 7 December 2016, compared with their net inflow of Rs 158.74 crore during the preceding trading session on 6 December 2016. The net inflow of Rs 229.95 crore on 7 December 2016 was a result of gross purchases of Rs 3968.96 crore and gross sales of Rs 3739.01 crore. On that day, the Sensex lost 155.89 points or 0.59% to settle at 26,236.87, its lowest closing level since 2 December 2016.

There was an inflow of Rs 124.45 crore from the category primary markets & others on 7 December 2016, which was a result of gross purchases of Rs 125.61 crore and gross sales of Rs 1.16 crore.

FPIs have sold stocks worth a net Rs 781.87 crore into the secondary equity markets in this month so far (till 7 December 2016). FPIs sold shares worth a net Rs 20116.27 crore from the secondary equity markets last month. FPIs have purchased shares worth a net Rs 20272.91 crore from the secondary equity markets in calendar year 2016 so far (till 7 December 2016). FPIs sold shares worth a net Rs 4863.71 crore into the secondary equity markets in calendar year 2015.

There has been a net inflow of Rs 177.23 crore from FPIs into the category primary markets & others in this month so far (till 7 December 2016). There was a net inflow of Rs 1872.02 crore from FPIs into the category primary markets & others last month. The net inflow from FPIs into category primary markets & others has totaled Rs 7864.92 crore in calendar year 2016 so far (till 7 December 2016). There was net inflow of Rs 22168.40 crore from FPIs into the category primary markets & others in calendar year 2015.

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Airlines to post another strong year of profits in 2017: IATA
Dec 08,2016

The International Air Transport Association (IATA) announced that it expects the global airline industry to make a net profit in 2017 of $29.8 billion. On forecast total revenues of $736 billion, that represents a 4.1% net profit margin. This will be the third consecutive year (and the third year in the industrys history) in which airlines will make a return on invested capital (7.9%) which is above the weighted average cost of capital (6.9%).

IATA revised slightly downward its outlook for 2016 airline industry profitability to $35.6 billion (from the June projection of $39.4 billion) owing to slower global GDP growth and rising costs. This will still be the highest absolute profit generated by the airline industry and the highest net profit margin (5.1%).

Airlines continue to deliver strong results. This year we expect a record net profit of $35.6 billion. Even though conditions in 2017 will be more difficult with rising oil prices, we see the industry earning $29.8 billion. Thats a very soft landing and safely in profitable territory. These three years are the best performance in the industrys history - irrespective of the many uncertainties we face. Indeed, risks are abundant - political, economic and security among them. And controlling costs is still a constant battle in our hyper-competitive industry, said Alexandre de Juniac, IATAs Director General and CEO.

We need to put this into perspective. Record profits for airlines means earning more than our cost of capital. For most other businesses that would be considered a normal level of return to investors. But three years of sustainable profits is a first for the airline industry. And after many years of hard work in restructuring and re-engineering the business the industry is also more resilient. We should also recognize that profits are not evenly spread with the strongest performance concentrated in North America, said de Juniac.

2017

While airline industry profits are expected to have reached a cyclical peak in 2016 of $35.6 billion, a soft landing in profitable territory is expected in 2017 with a net profit of $29.8 billion. 2017 is expected to be the eighth year in a row of aggregate airline profitability, illustrating the resilience to shocks that have been built into the industry structure. On average, airlines will retain $7.54 for every passenger carried.

Expected higher oil prices will have the biggest impact on the outlook for 2017. In 2016 oil prices averaged $44.6/barrel (Brent) and this is forecast to increase to $55.0 in 2017. This will push jet fuel prices from $52.1/barrel (2016) to $64.9/barrel (2017). Fuel is expected to account for 18.7% of the industrys cost structure in 2017, which is significantly below the recent peak of 33.2% in 2012-2013.

The demand stimulus from lower oil prices will taper off in 2017, slowing traffic growth to 5.1% (from 5.9% in 2016). Industry capacity expansion is also expected to slow to 5.6% (down from 6.2% in 2016). Capacity growth will still outstrip the increase in demand, thus lowering the global passenger load factor to 79.8% (from 80.2% in 2016).

The negative impact of a lower load factor is expected to be offset somewhat by a strengthening of global economic growth. World GDP is projected to expand by 2.5% in 2017 (up from 2.2% in 2016). Along with structural changes in the industry, this is expected to help stabilize yields for both the cargo and passenger businesses. This is a welcome development as yields (calculated in dollar terms) have fallen each year since 2012.

There is some optimism over the prospects for the cargo business in 2017. The break in falling yields and a moderate uptick in demand (3.5%) will see cargo industry volumes reach a record high of 55.7 million tonnes (up from 53.9 million tonnes in 2016). Industry revenues are expected to rise slightly to $49.4 billion (still well below the $60 billion level of annual revenues experienced in 2010-2014). Trading conditions remain challenging.

Connectivity continues to set new records. We expect nearly 4 billion travelers and 55.7 million tonnes of cargo in the coming year. And almost 1% of global GDP is spent on air transport - some $769 billion. Air transport has made the world more accessible than ever and it is a critical enabler of the global economy, said de Juniac.

Governments, however, do not make aviations work easy. The global tax bill has ballooned to $123 billion. Over 60% of countries put visa barriers in the way of travel. And the total number of ticket taxes exceeds 230. Billions of dollars are wasted in direct costs and lost productivity as a result of inefficient infrastructure. These are only some of the hurdles which confront airlines. Our aim is to work in partnership to help governments better understand and fully maximize the social and economic benefits of efficient global air links, said de Juniac.

2017 Regional Analysis

North American carriers: The strongest financial performance is being delivered by airlines in North America. Net post-tax profits will be the highest at $18.1 billion next year, although down slightly from the $20.3 billion expected in 2016. The net margin for the regions carriers is also expected to be the strongest at 8.5% with an average profit of $19.58/passenger. In 2017 capacity offered by the regions carriers is expected to grow by 2.6%, slightly outpacing expected demand growth of 2.5%. Recent consolidation continues to underpin the regions strong profitability, even as the region faces upwards cost pressures which include the price of fuel.

European carriers: Airlines based in Europe are expected to post an aggregate net profit of $5.6 billion in 2017 which is below the $7.5 billion for 2016. Nonetheless, carriers there are forecast to generate a 2.9% net profit margin and a per passenger profit of $5.65. There remains a significant gap between the performance of the regions carriers and the performance of North American ones. Capacity in 2017 is expected to grow by 4.3%, ahead of demand growth which is forecast at 4.0%. The region is subject to intense competition and hampered by high costs, onerous regulation and high taxes. And terrorist threats remain a real risk, even if confidence is starting to return after the tragic incidents in recent times.

Asia-Pacific carriers: Airlines in the Asia-Pacific region are expected to generate a net profit of $6.3 billion in 2017 (down from $7.3 billion in 2016) for a net margin of 2.9%. On a per passenger basis average profits are anticipated to be $4.44. Capacity offered by the regions carriers is forecast to grow by 7.6%, ahead of a forecast growth in demand of 7.0%. Improved cargo performance is expected to offset rising fuel prices for many of the regions airlines. The expansion of new model airlines and progressive liberalization in the region is intensifying already strong competition. In addition profitability varies widely across the region.

Middle Eastern carriers: Middle Eastern airlines are forecast to generate a net profit of $0.3 billion for a net margin of 0.5% and an average profit per passenger of $1.56. This is below the $900 million profit expected in 2016. Average yields for the regions carriers are low but unit costs are even lower, partly driven by the strong capacity expansion, forecast at 10.1% this year, ahead of expected demand growth of 9.0%. Threats are emerging to the success story of the Gulf carriers, including increases in airport charges across the Gulf States and growing air traffic management delays.

Latin American carriers: Latin American airlines are expected to post a net profit of $200 million, which is slightly lower than the $300 million forecast for 2016. Profit per passenger is expected to be $0.76 with a net profit margin of 0.7%. Capacity offered by the regions carriers is forecast to grow by 4.8% which is ahead of ex

Dharamsi Morarji Chemical Co allots equity shares
Dec 08,2016

Dharamsi Morarji Chemical Co announced that the equity share allotment committee of the Company at its meeting held on 07 December 2016 passed the resolution for issue of 588,930 equity shares of Rs 10 each at price of Rs 101.88 per share on preferential basis.

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Asia Pacific Market: Stocks extend gains
Dec 08,2016

Asia Pacific share market inclined on Thursday, 08 December 2016, as risk appetite buying resumed after the Wall Street powered to fresh record highs overnight. But gains across the region capped as investor eye a key European Central Bank meeting.

Markets were waiting for a statement from the European Central Bank late on Thursday. The European Central Bank (ECB) is widely expected to prolong massive monetary stimulus Thursday to spur an economy crimped by a rise in political uncertainty as exemplified by Trumps upset win, Brexit and the rise of the far right in Europe.

Among Asian bourses

Australia market spurs to 4-month high

Australian share market advanced to its highest point in nearly four months, on the back of significant gains in resources and financial stocks. With the exception of energy issue, every ASX sector was up, with technology, financial and mining issues leading rally. At the closing bell, the benchmark S&P/ASX 200 index advanced 65.50 points, or 1.2%, to 5543.60, while the broader All Ordinaries index inclined 63.60 points, or 1.15%, to close at 5599.

Shares of materials and resources were best performers among ASX sectors, thanks to jump in base metal price in overnight trade. Rio Tinto added 3.1% to A$62.73 and BHP ended up 1.2% to A$26.04. Fortescue added 1.7% to A$6.69.

Shares of financial players, which had lost ground over the last few months, were attracting the attention of international investors, in part due to a lower Australian dollar. Among major banks, Westpac added 2.1% to A$32.13, Australia & New Zealand Banking Group 2.5% to A$29.53, Commonwealth Bank of Australia 0.5% to A$79.73, and National Australia Bank 1.1% to A$29.32.

Nikkei extends gains on strong global cues

The Japan share market inclined to its best close this year, after Wall Street powered to fresh record highs overnight. But gains were limited after weak revised figures that showed Japans economy grew less than expected in the third quarter and as investors eye a key European Central Bank meeting. Total 31 out of 33 TSE industry category on the main section gained ground, with Electric Power & Gas, Securities & Commodities Futures, Insurance, Iron & Steel, Information & Communication, and Air Transportation issues being major gainers. The 225-issue Nikkei average inclined 268.78 points, or 1.45%, to close at 18,765.47. The Topix index of all first-section issues finished up 22.07 points, or 1.48%, at 1,512.69.

SoftBank shares roared again in the wake of Trumps announcement of a $50 billion investment in the US by the telecoms giant.The stock jumped more than six% on Wednesday, with investors hailing CEO Masayoshi Sons meeting with Trump in New York.

Honda Motor Corp jumped after the announcement that its joint venture in China plans to build a third production plant in the country.

Sony was up after it announced plans to release new smartphone games in April into the Japanese market.

Japans gross domestic product grew 0.3% on quarter in the third quarter of 2016, the Cabinet Office said in Thursdays final revision. That missed expectations for 0.5%, which would have been unrevised from the November 14 preliminary reading. GDP was up 0.2% in the second quarter. On a yearly basis, GDP was knocked all the way down to 1.3% from the preliminary reading of 2.2%.

Japan had a current account surplus of 1.719 trillion yen in October, the Ministry of Finance said on Thursday, rising 22.7% on year, following the 1.821 trillion yen surplus in September. The trade balance reflected a surplus of 587.6 billion, down from 642.4 billion yen in the previous month. Imports were down 15.9% on year to 5.160 trillion yen, while exports dipped 9.4% to 5.747 trillion yen.

China Stocks edge lower on weak trade data

Mainland China stock market ended slight lower on Thursday, 08 December 2016, as investors grappled with mixed data showing better-than-expected November trade numbers but a sharp fall in foreign-exchange reserves. Sectors were mixed, with banks and raw materials gained, while properties and infrastructures dropped. The Shanghai Composite Index dropped 0.21%, to 3,215.37, while the Shenzhen Composite Index, which tracks stocks on Chinas second exchange, declined 0.52% to 2,077.37. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, fell 1% to close at 2,114.71 points.

Investors risk appetites were dented after data late on Wednesday showed forex reserves fell nearly $70 billion last month to the lowest level in nearly six years, as the central bank struggled to prop up the yuans value. However, unexpectedly strong trade data on Thursday provided some relief. Chinas November exports rose by 0.1 percent from a year earlier, while imports expanded 6.7 percent on strong demand for commodities from coal to iron ore.

Resource shares advanced, despite the generally cautious mood. Steelmaker Baoshan Iron & Steel Co and Wuhan Iron and Steel jumped on the heels of regulatory approval for their merger plan.

Hong Kong Stocks extends gain for the third session

The Hong Kong stock market finished higher for third straight session, on the back of positive lead from US markets overnight. Still, the upside was limited by a softer close for mainland shares after Chinas foreign exchange reserves fell far more than expected in November to the lowest level in nearly six years. The reserves data also seemed to have offset any enthusiasm from solid trade numbers for the worlds second-biggest economy. Most sectors rose, with industrial and resource shares leading the gains. The Hang Seng Index ended up 0.27%, or 60.92 points, to 22,861.84, while the Hang Seng China Enterprises index inclined 0.68%, or 67.24 points, to 9,896.82. Turnover increased to HK$73.5 billion from HK$62.5 billion on Wednesday.

HSBC (00005) edged down 0.2% to HK$65.35. The global bank has started buying back its own shares since early August, but it did not issue repurchase notice today.

AIA (01299) slipped 2% to HK$44.25 becoming the largest blue-chip loser. Nomura said in a research report that potential downside from UnionPay restriction is yet to play out fully. AIA today registered a HK$574 million block deal.

Nomura also noted that HKExs (00388) valuation is ahead of fundamentals. But it rebounded 0.7% to HK$195 after four-day decline. MTR Corp (00066) edged up 0.3% to HK$38.6.

China Customs said exports and imports in November rebounded to 0.1% and 6.7% year-on-year in USD terms. COSCO Shipping Ports (01199) and Tianjin Port Development (03382) rose 2.9% and 1.7% to HK$7.92 and HK$1.22.

Sensex, Nifty settle at near 4-week high

Gains in metal, auto sector stocks and index heavyweights ITC, Reliance Industries, Infosys, HDFC and HDFC Bank lifted key benchmark indices. The barometer index, the S&P BSE Sensex, surged 457.41 points or 1.74% to settle at 26,694.28. The Nifty 50 index jumped 144.80 points or 1.79% to settle at 8,246.85. Strong global cues boosted investors sentiment.

Bank stocks edged higher. Tata Motors rose after the company said that Jaguar Land Rover (JLR), the UKs leading manufacturer of premium luxury vehicles, reported its best ever November retail sales. Escorts advanced after the company announced the completion of the divestment of its auto products business to Badve Engineering, Pune. Tata Steel rose as Tata Steel UK reached an agreement with trade unions on a number of proposals that would structurally reduce risks and help secure a more sustainable future for its UK business.

Elsewhere in the Asia Pacific region: New Zealands NZX50 shed 0.08% to 6910.19. Indonesias Jakarta Composite index added 0.7% to 5303.73. Taiwans Taiex grew 1.2% to 9375.86. South Koreas KOSPI index was up 2% to 2031. Malaysias KLCI grew 0.7% to 1643.75. Singapores Straits Times index fell 0.03% to 2958.86.

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Hong Kong Stocks extends gain for the third session
Dec 08,2016

The Hong Kong stock market finished higher for third straight session on Thursday, 08 December 2016, on the back of positive lead from US markets overnight. Still, the upside was limited by a softer close for mainland shares after Chinas foreign exchange reserves fell far more than expected in November to the lowest level in nearly six years. The reserves data also seemed to have offset any enthusiasm from solid trade numbers for the worlds second-biggest economy. Most sectors rose, with industrial and resource shares leading the gains. The Hang Seng Index ended up 0.27%, or 60.92 points, to 22,861.84, while the Hang Seng China Enterprises index inclined 0.68%, or 67.24 points, to 9,896.82. Turnover increased to HK$73.5 billion from HK$62.5 billion on Wednesday.

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China Stocks edge lower on weak trade data
Dec 08,2016

Mainland China stock market ended slight lower on Thursday, 08 December 2016, as investors grappled with mixed data showing better-than-expected November trade numbers but a sharp fall in foreign-exchange reserves. Sectors were mixed, with banks and raw materials gained, while properties and infrastructures dropped. The Shanghai Composite Index dropped 0.21%, to 3,215.37, while the Shenzhen Composite Index, which tracks stocks on Chinas second exchange, declined 0.52% to 2,077.37. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, fell 1% to close at 2,114.71 points.

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Nikkei extends gains on strong global cues
Dec 08,2016

The Japan share market inclined to its best close this year on Thursday, 08 December 2016, after Wall Street powered to fresh record highs overnight. But gains were limited after weak revised figures that showed Japans economy grew less than expected in the third quarter and as investors eye a key European Central Bank meeting. Total 31 out of 33 TSE industry category on the main section gained ground, with Electric Power & Gas, Securities & Commodities Futures, Insurance, Iron & Steel, Information & Communication, and Air Transportation issues being major gainers. The 225-issue Nikkei average inclined 268.78 points, or 1.45%, to close at 18,765.47. The Topix index of all first-section issues finished up 22.07 points, or 1.48%, at 1,512.69.

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Australia Market spurs to 4-month high
Dec 08,2016

Australian share market advanced to its highest point in nearly four months on Thursday, 08 December 2016, on the back of significant gains in resources and financial stocks. With the exception of energy issue, every ASX sector was up, with technology, financial and mining issues leading rally. At the closing bell, the benchmark S&P/ASX 200 index advanced 65.50 points, or 1.2%, to 5543.60, while the broader All Ordinaries index inclined 63.60 points, or 1.15%, to close at 5599.

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EPFO Takes Steps to Cover Contract Workers in Government Departments
Dec 08,2016

A sub-committee of Central Board of Trustees, EPF met on 7th November 2016. The committee noted that the coverage of contract workers increased from 89.25 lakh to 1.02 crore. The Committee however further noted that large number of contact workers in the country still remain deprived of PF benefits. This is because many Central Government Departments/ Organizations do not come under the purview of the EPF and MP Act, 1952. Considering the social security as the basic right of all workers, it decided to recommend to the Government of India for cancellation of exclusion to such categories, including Indian Railways.

The Committee noted that transfer of accounts of contract workers is now possible through Universal Account Number (UAN). It was decided to encourage contract workers to make full use of Aadhaar seeded UAN, upon change of every employment for consolidating their EPF money. The Committee also recommended to the Government to consider increase in the wage ceiling under EPFO to Rs. 25,000 per month from the existing Rs. 15,000 per month.

Zonal review meeting of Additional Central P.F. Commissioners was held on 26th November 2016. All Zonal Addl. PF Commissioners were advised to take up with the State Government for further asking State PSUs, State Corporations, State Government Departments, State PWDs etc. to ensure coverage of all contract workers.

With Aadhaar backed UAN, a number of direct services to EPF members are made available like submission of claim directly with EPFO without employers attestation. At present, out of 8.11 cores UAN issued by EPFO, 2.01 crore Aadhaar numbers of members have been uploaded in UAN database. For creating awareness on benefits of Aadhaar seeding with UAN, EPFO will conduct country wide awareness programme so as to ensure seeding of all UAN with Aadhaar by December end. Beginning December, ECR version 2.0 will be launched. This will further facilitate auto transfer of UAN linked accounts.

An enduring issue with EPFO, has been enrolment of all eligible workers. At present, EPFO has 4 crore contributing workers. EPFO proposes to launch a six months enrolment campaign during 1st January 2017 to 30th June 2017 to enroll all the eligible workers. This campaign will also focus on linking UAN to Aadhaar.

The last date of submission of life certificate by pensioners under Employees Pension Scheme, 1995 has been extended upto 15th January 2017. There are around 54 lakh pensioners with EPFO.

EPFO is focusing its attention on next phase of computerization so that services to members, pensioners and establishments can be made seamless and digitized. The field offices data base is being centralized to operate from the central computing facility. Consolidation of field offices database commenced in October and so far 26 offices of EPFO have migrated to the consolidated database of the Central Data Centre. The computerization reforms includes facilitating submission of online claims as well as Pradhan Mantri Rojgar Protsahan Yojana (PMRPY). ECR 2.0, UAN 2.0 and PMRPY services will be made operational from December 2016.

A stakeholder engagement meeting from industry was held on 29th November 2016. Representatives from PHDCCI, CII, ASSOCHAM and FICCI attended the meeting. In the meeting, the new version of Electronic-challan-cum Return (ECR 2.0) and UAN 2.0 were explained and the need of enrolment of all eligible workers with EPFO and linking of UAN with Aadhaar was impressed. The representatives received the idea well.

The Executive Committee, CBT, EPF was reconstituted on 24th November 2016. Secretary, Government of India, Ministry of Labour & Employment is the Chairperson of the Executive Committee. The 87th meeting of the Executive Committee, CBT, EPF is scheduled to held on 12th December 2016.

EPFO settled 18,501 grievances during the month leaving 3,153 pending. Out of the pending grievances, 82% were pending for less than 07 days.

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Ansal Properties & Infrastructure standalone net profit declines 91.02% in the September 2016 quarter
Dec 08,2016

Net profit of Ansal Properties & Infrastructure declined 91.02% to Rs 1.54 crore in the quarter ended September 2016 as against Rs 17.15 crore during the previous quarter ended September 2015. Sales declined 23.78% to Rs 114.28 crore in the quarter ended September 2016 as against Rs 149.93 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales114.28149.93 -24 OPM %7.87-1.40 - PBDT3.51-8.73 LP PBT2.55-10.04 LP NP1.5417.15 -91

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Ansal Properties & Infrastructure reports consolidated net loss of Rs 0.44 crore in the September 2016 quarter
Dec 08,2016

Net loss of Ansal Properties & Infrastructure reported to Rs 0.44 crore in the quarter ended September 2016 as against net profit of Rs 13.94 crore during the previous quarter ended September 2015. Sales declined 2.79% to Rs 176.90 crore in the quarter ended September 2016 as against Rs 181.98 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales176.90181.98 -3 OPM %13.0613.66 - PBDT6.349.95 -36 PBT1.696.07 -72 NP-0.4413.94 PL

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