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Future Enterprises standalone net profit rises 615.37% in the June 2016 quarter

Future Enterprises standalone net profit rises 615.37% in the June 2016 quarter

Sep 14,2016

Net profit of Future Enterprises rose 615.37% to Rs 315.48 crore in the quarter ended June 2016 as against Rs 44.10 crore during the previous quarter ended June 2015. Sales declined 67.64% to Rs 921.19 crore in the quarter ended June 2016 as against Rs 2846.84 crore during the previous quarter ended June 2015.

ParticularsQuarter Ended
n++Jun. 2016Jun. 2015% Var.
Sales921.192846.84-68
OPM %24.969.91-
PBDT295.07184.1360
PBT142.3249.92185
NP315.4844.10615

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STC India hits 5% lower circuit for second day on profit booking
Jan 04,2017

Meanwhile, the S&P BSE Sensex was up 37.82 points, or 0.14%, to 26,681.66.

On the BSE, 1,685 shares were traded in the counter so far as against an average daily volume of 1.07 lakh shares in the past one quarter. The stock was locked at a low of Rs 207.25 so far during the day. The stock had hit a 52-week low of Rs 71.20 on 26 February 2016.

The stock had outperformed the market over the past one month till 3 January 2017, jumping 86.29% compared with the 1.57% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 67.1% as against Sensexs 5.67% decline.

The small-cap company has equity capital of Rs 60 crore. Face value per share is Rs 10.

Shares of State Trading Corporation of India had surged 95.82% in eight sessions to settle at Rs 229.60 on 2 January 2017, which was also a 52-week high for the stock, from a close of Rs 117.25 on 21 December 2016.

After the exchanges sought clarification from the company with reference to increase in price on 28 December 2016 after the stock was locked at 10% upper circuit on that day, the company had clarified on the same day that it does not have any information/announcement which could have affected the price of the scrip.

On 23 December 2016, Smithblock Financial Services Private Limited bought 4 lakh shares of State Trading Corporation of India at Rs 142.25 per share on the NSE, the bulk deal data on NSE showed.

State Trading Corporation of India (STC India) reported net loss of Rs 4.77 crore in Q2 September 2016 compared with net loss of Rs 3.17 crore in Q2 September 2015. Net sales fell 87.6% to Rs 607.24 crore in Q2 September 2016 over Q2 September 2015.

STC is a premier international trading company that was set up in 1956. The company imports and exports large number of bulk commodities such as rice, wheat, sugar, pulses, edible oils, fertilisers, coal and bullion, etc. It also imports mass consumption items like wheat, sugar and pulses, etc. as and when called upon by the Government to do so.

The government of India holds 90% stake in the firm as per the shareholding pattern as on 30 September 2016.

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HCL Tech moves north after completing acquisition in US
Jan 04,2017

The announcement was made during market hours today, 4 January 2017.

Meanwhile, the S&P BSE Sensex was up 12.49 points or 0.05% at 26,655.73.

On the BSE, 56,000 shares were traded on the counter so far as against the average daily volumes of 96,793 shares in the past one quarter. The stock had hit a high of Rs 857.95 and a low of Rs 834.30 so far during the day.

The stock had hit a 52-week high of Rs 889.80 on 1 February 2016 and a 52-week low of Rs 706.50 on 11 May 2016. It had outperformed the market over the past one month till 3 January 2017, advancing 5.25% compared with the Sensexs 1.57% rise. The scrip had also outperformed the market over the past one quarter gaining 3.24% as against the Sensexs 5.67% fall.

The large-cap company has equity capital of Rs 282.24 crore. Face value per share is Rs 2.

HCL Technologies had announced in October 2016 regarding its acquisition of Butler America Aerospace, LLC (Butler Aerospace), an aerospace & defense engineering service provider to US aerospace and defense customers. Butler Aerospace is a wholly owned subsidiary of Butler America LLC. The acquisition is excluding the staffing business of Butler America Inc. The consideration for this acquisition was $85 million payable in cash.

On a consolidated basis, HCL Technologies net profit fell 1.92% to Rs 2015.60 crore on 1.61% growth in net sales to Rs 11519.21 crore in Q2 September 2016 over Q1 June 2016.

HCL Technologies is a leading global IT services company working with clients in the areas that impact and redefine the core of their businesses.

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Board of Sahara Housing Fina Corporation to consider private placement of NCDs
Jan 04,2017

Sahara Housing Fina Corporation announced that a meeting of the Board of Directors of the Company will be held on 11 January 2017, inter alia, to consider, fund raising by way of Private Placement of Secured Non-Convertible Debentures (NCDs) (Unlisted).

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Board of Facor Steels to consider December quarter results
Jan 04,2017

Facor Steels announced that a meeting of the Board of Directors of the Company will be held on 10 January 2017 inter alia, to consider and approve the Un-audited Financial Results of the Company for the quarter ended 31 December 2016.

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Reliance Industries allots equity shares
Jan 04,2017

Reliance Industries has allotted 2,29,091 equity shares of Rs.10/- each, on 02 January 2017 pursuant to the Employees Stock Option Scheme.

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Cabinet approves signing of MoU between India and Portugal in the field of agriculture and allied sectors
Jan 04,2017

The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi has given its approval for signing of an Agreement for cooperation in the field of Agriculture and allied sectors between India and Portugal.

The Agreement covers various activities in these fields which include exchange of scientific and technical information, trade in plants and plant products, exchange of information in phytosanitary issues, training programmes, seminars and visits of experts and consultants.

The Agreement provides constitution of a Joint Working Group comprising of representatives from both countries, the task of which would be to monitor the implementation of the present MoU and making concrete proposals for agriculture cooperation and develop guidelines and priorities for future cooperation in the field of agriculture and allied sectors.

The Agreement shall enter into force on the date of its signing and shall remain in force for a period of five years and shall be automatically extended for a subsequent period of five years unless either Party gives written notice through diplomatic channels to the other Party of its intention to terminate the Agreement at least six months before its expiration.

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Sundaram Multi Pap repays Rs 45 crore worth debts
Jan 04,2017

Sundaram Multi Pap announced that the Company have successfully repaid Rs 45 crore to its bankers by end of December 2016 and our debt has been reduced to that extent. This bullet payment of Rs. 45 crore relates to the restructuring of debt carried out in the month of September 2014. The Company has fulfilled its financial obligation.

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Baroda Rayon Corporation announces cessation of BIFR nominated director
Jan 04,2017

Baroda Rayon Corporation announced that in pursuance of Government notification S.O. No. 3568 (E) dated 25 November 2016 and S.O. 3569 E) dated 25 November 2016, The Board for Industrial & Financial Reconstruction (BIFR) has been wound up w.e.f. 01 December 2016. Accordingly the Company has received a discharge order vide F. No. 16(6)/3/201I/BIFR/SD Discharge, stating that Prashant Panda, a Special Director appointed by BIFR, ceases to exist on the Board of the Company w.e.f. 01 December 2016.

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Indag Rubber gets assignment of credit ratings
Jan 04,2017

Indag Rubber announced that ICRA has assigned long term rating of [ICRA]A+ with a stable outlook on the Rs. 8 crore long term fund based and also assigned a short term rating of [ICRA]A1+ on the Rs. 47 crore (including unallocated amount) non fund based facilities.

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Sundaram Multi Pap provides financial update
Jan 04,2017

Sundaram Multi Pap has reduced its debt to the extent of Rs 45 crore by December 2016. The Company had opted for debt restructuring in September 2014. The Company has being able to reduced its financial obligation as a result of liquidation of non-core assets located at Palghar and Mumbai and raising funds from Qualified Institutional Buyers.

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Gujarat State Petronet appoints director
Jan 04,2017

Gujarat State Petronet announced that the Board of Directors of the Company has approved appointment of Bimal N Patel as Additional (Independent) Director on the Board of the Company w.e.f. 29 December 2016.

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Nandan Denim gets RBI approval for hike in foreign investment limit
Jan 04,2017

Nandan Denim announced that the Reserve Bank of India (RBI) has issued a press release dated 03 January 2017 notifying the increase in investment limits of Foreign Institutional Investors (FIIs) / Registered Foreign Portfolio Investors (RFPIs) from default limit of 24% to 49% of the paid-up share capital of the Company under Portfolio Investment Scheme (PIS).

In view of the same, Foreign Institutional Investors (Flls)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 49% of the paid up capital of Nandan Denim (the Company).

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HCL Technologies completes acquisition of Butler America Aerospace, LLC
Jan 04,2017

HCL Technologies announced that the Company has completed the acquisition of Butler America Aerospace, LLC, an aerospace & defense engineering service provider on 03 January 2017.

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Volumes jump at TeamLease Services counter
Jan 04,2017

TeamLease Services clocked volume of 65,000 shares by 13:29 IST on BSE, a 139.05-times surge over two-week average daily volume of 468 shares. The stock was up 1.37% at Rs 889.

Blue Dart Express notched up volume of 65,000 shares, a 86.52-fold surge over two-week average daily volume of 1,000 shares. The stock lost 0.16% at Rs 4,480.

Wabco India saw volume of 71,000 shares, a 70.11-fold surge over two-week average daily volume of 1,000 shares. The stock rose 0.36% at Rs 5,264.

Chennai Petroleum Corporation clocked volume of 5.44 lakh shares, a 8.15-fold surge over two-week average daily volume of 67,000 shares. The stock surged 5.57% at Rs 320.45.

Jubilant Life Sciences saw volume of 7.66 lakh shares, a 8.14-fold rise over two-week average daily volume of 94,000 shares. The stock jumped 12.1% at Rs 715 after the company announced signing of long term contracts in radiopharma business. The announcement was made during market hours today, 4 January 2017.

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Yes Bank underwrites project finance facility of Rs 800 crore
Jan 04,2017

Yes Bank announced that Sterlite Power Transmission has achieved financial closure for its transmission project that will increase electricity supply to residential, commercial and industrial establishments in part of Haryana. The financial closure was achieved by Yes Bank by underwriting Project Finance Facility of Rs 800 crore for a period of 15 years for the project.

The transmission project will increase power supply by 2000-3000 MW to the energy starved region and strengthen the transmission network.

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