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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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Mercator receives contract worth Rs 15 crore
Jun 07,2017

Mercator has received a Contract for Maintenance Dredging at Karaikal Port. The value of the contract is approx. Rs. 15 crore and the work will be completed during first half of FY 2018.

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ABB India introduces new integrated microgrid solution - MGS100
Jun 07,2017

ABB India is bringing affordable, safe and reliable electricity to remote communities with its new integrated microgrid solution, MGS100 that combines solar power and enables battery energy storage. Encasedin a single container, the MGS100 has three power ratings - 20 kW, 40 kW, 60 kW nominal load power. Installation is quick and easy, as it is factory tested and embedded DC and AC protections make itready to connect. With the added benefit of remote monitoring, vital diagnostics are always available and maintenance is simple.

The ABB MGS100, built to perform in extreme environments, has the ability to transform lives and businesses for the better where access to affordable and reliable power is a challenge. The scalable system can be connected to multiple power sources to provide electricity for remote villages that are not connected to the main grid, or reliable back-up power for small commercial and industrial facilities using an inconsistent grid supply, enabling social and economic development.

MGS100 brings together all the components required for a sustainable microgrid in a single device, making it extremely versatile and flexible. It can tap into cost-efficient, renewable energies such as solar photovoltaic [PV] and batteries, removing the reliance for costly and potentially harmful biofuel/diesel generators, therefore reducing overall operating costs and environmental impact.

By prioritizing abundant local solar power during the day, the MGS100 switches to battery mode after dark and only uses an AC generator for the rest of the night if the battery runs out.

The MGS100 will be widely available at the end of 2017.

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Jammu and Kashmir Bank allots 35525321 equity shares
Jun 07,2017

Jammu and Kashmir Bank announced that the Share Allotment Committee approved the Preferential Allotment of 3,55,25,321 equity shares of Re. 1/- each fully paid up of the Bank for cash to the Government of Jammu and Kashmir (Chief Secretary and Secretary Finance) at the issue price of Rs. 79.38 per Equity Share (including premium of Rs. 78.38 per Equity Share) aggregating to Rs. 281.99 crore.

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IIFL Holdings leads gainers on BSEs A group
Jun 07,2017

IIFL Holdings rose 9.53% at Rs 603.05. The stock topped the gainers in A group. On the BSE, 2.27 lakh shares were traded on the counter so far as against the average daily volumes of 20,000 shares in the past two weeks.

Cadila Healthcare rose 8.10% at Rs 530.10. The stock was the second biggest gainer in A group. On the BSE, 9.53 lakh shares were traded on the counter so far as against the average daily volumes of 1.97 lakh shares in the past two weeks.

Edelweiss Financial Services rose 5.99% at Rs 196.40. The stock was the third biggest gainer in A group. On the BSE, 7.35 lakh shares were traded on the counter so far as against the average daily volumes of 2 lakh shares in the past two weeks.

Shriram City Union Finance rose 4.98% at Rs 2,449.70. The stock was the fourth biggest gainer in A group. On the BSE, 1,964 shares were traded on the counter so far as against the average daily volumes of 1,982 shares in the past two weeks.

Info Edge (India) rose 4.25% at Rs 1,100. The stock was the fifth biggest gainer in A group. On the BSE, 57,000 shares were traded on the counter so far as against the average daily volumes of 27,000 shares in the past two weeks.

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DCB Bank revises MCLR rates and Base Rate
Jun 07,2017

DCB Bank has announces downward revision to its MCLR across tenors and Base Rate with effect from 10 June 2017 as under -

Overnight - 8.60%
One month - 8.80%
Three month - 9.05%

Six month - 9.52%
One year - 9.72%.

The Base Rate has been revised from 10.64% to 10.44% p.a.

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RCom slips after new rating downgrades
Jun 07,2017

Meanwhile, the S&P BSE Sensex was up 47.45 points, or 0.15% to 31,238.01.

On the BSE, 34.81 lakh shares were traded in the counter so far, compared with average daily volumes of 38.37 lakh shares in the past one quarter. The stock had hit a high of Rs 19.75 and a low of Rs 19.25 so far during the day. The stock hit a 52-week high of Rs 55.40 on 31 April 2016. The stock hit a record low of Rs 18.15 on 31 May 2017.

The stock had underperformed the market over the past one month till 6 June 2017, falling 38.06% compared with 4.23% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 41.82% as against Sensexs 7.92% rise. The scrip had also underperformed the market in past one year, falling 58.47% as against Sensexs 15.48% rise.

The mid-cap company has equity capital of Rs 1244.49 crore. Face value per share is Rs 5.

Ratings agencies Moodys and Fitch yesterday, 6 June 2017, cut Reliance Communications (RCom) rating for the second time in a week, even as the telco received a seven-month respite from bankers on debt repayment.

Moodys Investors Service cut its rating on RCom to Ca from Caa1. The new rating suggests that the debt is highly speculative and likely in, or very near, default, with some prospect of recovery of principal and interest. It had downgraded RCom to Caa1, indicating high risk, on 30 May 2017.

Fitch Ratings lowered RComs rating to RD from CCC, saying the situation constituted restricted default, as multiple waivers or forbearance periods have been extended in parallel following a non-payment event. Fitch last cut RComs rating on 2 June 2017.

RCom announced that the reason given for revision in rating is the companys announcement dated 2 June 2017 that its bank lenders are prepared to waive debt service obligations until end of 2017 to provide time for the company to lower its debt through two proposed transactions and present a plan demonstrating how the debt can be serviced over the long term.

RCom stated that post signing of binding documents for the Aircel and Brookfield transactions, the company has formally advised all its lenders that it will be making repayment of an aggregate amount of Rs 25000 crore from the proceeds of these two transactions, on or before 30 September 2017. The said amount will cover not only all scheduled repayments, but also include substantial pre-payments to all lenders on a pro-rata basis.

Based on the large number of approvals already received for the two transactions and continuing good progress for the balance, the company expects to meet its all debt repayment obligations in line with these plans, and substantially reduce its overall debt.

RCom announced after market hours on Friday, 2 June 2017, that it has been engaged in discussions with its lenders to finalise an overall debt resolution plan, with the objective of expeditiously closing the already announced strategic transactions with Aircel and Brookfield, to immediately reduce debt from Rs 45000 crore to approximately Rs 20000 crore; a reduction of 60% or Rs 25000 crore. RCom said it aims to develop a sustainable long term plan for servicing the companys remaining debt. Based on applicable guidelines, RComs lenders have constituted a Joint Lenders Forum (JLF) to consider and approve the companys plans in this regard.

The lenders have taken note of the advanced stage of implementation of RComs strategic transformation programme involving the transactions for the Wireless and Towers Business. The lenders have proposed to give time of seven months till December 2017 to complete the above transactions, and reduce its debt by a substantial amount of Rs 25000 crore, or 60%. RCom will also present to the lenders its sustainable long term plans for servicing the remaining debt of Rs 20000 crore. As part of the above, there will be a standstill on the companys debt servicing obligations for the next seven months till end December 2017.

In the event the transactions are not completed in the above timeframe, the Lenders may exercise their right to convert their debt, in accordance with applicable SDR guidelines. The above is subject to lenders formal approvals and all other approvals as may be necessary under law.

On a consolidated basis, Reliance Communications reported net loss of Rs 948 crore in Q4 March 2017 as against net profit of Rs 79 crore in Q4 March 2016. Net sales declined 24.11% to Rs 4312 crore in Q4 March 2017 over Q4 March 2016.

RCom is an integrated telecommunications service provider.

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Hexaware Technologies declines on profit booking
Jun 07,2017

Meanwhile, the S&P BSE Sensex was up 54.34 points, or 0.17% at 31,244.90. The S&P BSE Mid-Cap index was up 74.25 points, or 0.5% at 14,806.64.

On the BSE, 1.75 lakh shares were traded on the counter so far as against the average daily volume of 1.05 lakh shares in the past one quarter. The stock had hit a high of Rs 261.25 and a low of Rs 247 so far during the day. The stock had hit a 52-week high of Rs 267.50 on 6 June 2017 and hit a 52-week low of Rs 178.10 on 17 October 2016.

The stock had outperformed the market over the past one month till 6 June 2017, advancing 8.34% compared with the Sensexs 4.46% rise. The scrip had also outperformed the market over the past one quarter gaining 18.12% as against the Sensexs 7.38% rise. The scrip had also outperformed the market over the past one year advancing 20.09% as against the Sensexs 16.48% rise.

The mid-cap company has equity capital of Rs 60.47 crore. Face value per share is Rs 2.

Hexaware Technologies had rallied 10.12% in the preceding four trading sessions to settle at Rs 258.50 yesterday, 6 June 2017, from its closing of Rs 234.75 on 31 May 2017.

Hexaware Technologies consolidated net profit fell 6.26% to Rs 113.88 crore on 2.09% increase in net sales to Rs 960.53 crore in Q1 March 2017 over Q4 December 2016.

Hexaware Technologies provides IT outsourcing services. The company focuses on banking and financial Services, healthcare and insurance, travel and transportation and manufacturing & consumer verticals in the IT outsourcing services business.

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Export of Oilmeals up by 75% during April - May 2017
Jun 07,2017

The export of oilmeals during May 2017 is reported at 97,871 tons compared to 57,954 tons in May 2017 i.e. up by 69%, as per the data complied by The Solvent Extractors Association of India . The overall export of oilmeals during April - May 2017 provisionally reported at 301,569 tons compared to 171,932 tons during the same period of last year i.e. Up by 75%.

In last two months the export of oilmeals improved compared to the previous year, thanks to good monsoon, better oilseeds production and price parity. In percentage terms export showing improvement, but still its lower compared to earlier years, which can be seen from the below table. It may be also noted that India faced drought years during 2014-15 and 2015-16, which lead to lower production of oilseeds and affecting export of oilmeals to a lowest level.

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The Central Government abolished various Cesses in the last three years for smooth roll-out of GST
Jun 07,2017

The Central Government in the last three General Budgets viz 2015-16, 2016-17 and 2017-18 has gradually abolished various cesses on goods and services in order to prepare the ground for smooth roll- out of Goods and Service Tax (GST) from 1st July, 2017. The Central Government has taken this step in stages by abolishing various cesses so that it is easier to fit in various goods and services in different tax slabs for GST.

The Central Government in its General Budget 2015-16 had abolished Education Cess, including Secondary and Higher Education Cess on taxable services, and exempted Education Cess on excisable goods as well as Secondary and Higher Education Cess on excisable goods.

In its General Budget 2016-17, the Central Government abolished cess on cement, strawboard, three cesses including cess on Iron Ore Mines, Manganese Ore Mines and Chrome Ore Mines by amending Labour Welfare Cess Act, 1976, Tobacco cess by amending the Tobacco Cess Act 1975, and Cine Workers Welfare Cess by amending the Cine Workers Welfare Cess Act 1981 among others.

In its General Budget 2017-18, the Central Government abolished Research and Development cess by amending the Research and Development Cess Act.

Through Taxation Laws Amendment Act 2017, the following cesses are abolished. However, the date of the implementation will coincide with the date of the GST roll-out:

i) The Rubber Act 1947 - Cess on Rubber

ii) The Industries (Development and Regulation) Act 1951 - Cess on Automobile

iii) The Tea Act 1953 - Cess on Tea

iv) The Coal Mines (Conservation and Development) Act, 1974 - Cess on Coal

v) The Beedi Workers Welfare Cess Act 1971 - Cess on Beedis

vi) The Water (Prevention and Control of Pollution) Cess Act 1977 - Cess levied on Water consumed by certain industries and by local authorities.

vii) The Sugar Cess Act 1982, the Sugar Development Fund Act 1982 - Cess on Sugar

viii) The Jute Manufacturers Cess Act 1983 - Cess on Jute Goods manufactured or produced or in part of Jute.

ix) The Finance (2) Act 2004 - Education Cess on Excisable Goods

x) The Finance Act, 2007 - Secondary and Higher Education Cess on Excisable Goods

xi) The Finance Act 2010 - Clean Energy Cess

xii) The Finance Act 2015 - Swachh Bharat Cess

xiii) The Finance Act 2016 - Infrastructure Cess and Krishi Kalyan Cess

However, the following cesses will continue to be levied under the GST regime since they pertain to customs or goods which are not covered under the GST regime:

i) The Finance (2) Act 2004 - Education Cess on Imported Goods

ii) The Finance Act, 2007 - Secondary and Higher Education Cess on Imported Goods

iii) Cess on Crude Petroleum Oil under the Oil Industry Development Act, 1974

iv) Additional Duty of Excise on Motor Spirit (Road Cess)

v) Additional Duty of Excise on High Speed Diesel Oil (Road Cess)

vi) Special Additional Duty of Excise on Motor Spirit

vii) NCCD on Tobacco and Tobacco Products and Crude Petroleum Oil.

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Maruti Suzuki India firms up after good production in May
Jun 07,2017

The announcement was made during trading hours today, 7 June 2017.

Meanwhile, the S&P BSE Sensex was up 122.21 points, or 0.39% to 31,312.77.

On the BSE, 18,000 shares were traded in the counter so far, compared with average daily volumes of 65,625 shares in the past one quarter. The stock had hit a high of Rs 7,202.95 and a low of Rs 7,109.30 so far during the day. The stock hit a record high of Rs 7,249.30 on 1 June 2017. The stock hit a 52-week low of Rs 3,868.10 on 24 June 2016.

The stock had outperformed the market over the past one month till 6 June 2017, rising 7.34% compared with 4.23% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 21.37% as against Sensexs 7.92% rise. The scrip had also outperformed the market in past one year, rising 71.77% as against Sensexs 15.48% rise.

The large-cap company has equity capital of Rs 151.04 crore. Face value per share is Rs 5.

Maruti Suzuki Indias total sales rose 11.3% to 1.36 lakh units in May 2017 over May 2016. Domestic sales grew by 15.5% to 1.30 lakh units in May 2017 over May 2016. Export sales declined 36.3% to 6,286 units in May 2017 over May 2016.

Marutis net profit rose 15.8% to Rs 1709 crore on 20.3% growth in net sales to Rs 18005.20 crore in Q4 March 2017 over Q4 March 2016.

Maruti Suzuki India is Indias biggest car maker in terms of market share. Japanese parent Suzuki Motor Corporation currently holds 56.21% stake in Maruti Suzuki India (as per the shareholding pattern as on 31 March 2017).

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Aegis Logistics drops after offloading stake in step-down subsidiary
Jun 07,2017

The announcement was made after market hours yesterday, 6 June 2017.

Meanwhile, the S&P BSE Sensex was up 129.40 points or 0.41% at 31,319.96. The S&P BSE Mid-Cap index was up 68.90 points, or 0.47% at 14,801.29.

On BSE, so far 15,000 shares were traded in the counter as against average daily volume of 1.02 lakh shares in the past one quarter. The stock hit a high of Rs 210 and a low of Rs 206.10 so far during the day. The stock had hit a record high of Rs 219.50 on 1 June 2017. The stock had hit a 52-week low of Rs 112.10 on 17 August 2016.

The stock had outperformed the market over the past one month till 6 June 2017, rising 7.96% compared with the Sensexs 4.46% rise. The scrip, however, underperformed the market over the past one quarter, advancing 3.4% as against the Sensexs 7.38% rise. The scrip, however, outperformed the market over the past one year, surging 73.05% as against the Sensexs 16.48% rise.

The small-cap company has equity capital of Rs 33.40 crore. Face value per share is Re 1.

Aegis Logistics said that the company has entered into a share subscription agreement with its subsidiary Aegis Gas (LPG) (AGPL) and AGPLs subsidiary Hindustan Aegis LPG (HALPG), and Itochu Petroleum Co., (Singapore) Pte. (Itochu), with respect to the subscription by Itochu to equity shares of HALPG representing 19.7% of the paid-up share capital of HALPG.

The company does not directly hold any shares in HALPG, Aegis Logistics said. However, AGPL is a wholly owned subsidiary of the company, and HALPG is a wholly owned subsidiary of AGPL, it said. Therefore, HALPG is a step-down subsidiary of the company, it added.

Aegis Logistics consolidated net profit fell 5.61% to Rs 29.77 crore on 190.13% surge in net sales to Rs 1267.78 crore in Q4 March 2017 over Q4 March 2016.

Aegis Logistics is Indias leading oil, gas, and chemical logistics company. The company has five distinct but related business segments, and operates a network of bulk liquid terminals, liquefied petroleum gas (LPG) terminals, filling plants, pipelines, and gas stations to deliver products and services.

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Cadila Healthcare hits record high after USFDA nod for Mesalamine
Jun 07,2017

The announcement was made before trading hours today, 7 June 2017.

Meanwhile, the S&P BSE Sensex was up 131.62 points, or 0.42% to 31,322.18.

On the BSE, 8.97 lakh shares were traded in the counter so far, compared with average daily volumes of 1.24 lakh shares in the past one quarter. The stock had hit a high of Rs 539.40 so far during the day, which is also a record high for the counter. The stock had hit a low of Rs 491.05 so far during the day. The stock hit a 52-week low of Rs 305.05 on 24 June 2016.

The stock had outperformed the market over the past one month till 6 June 2017, 5.13% compared with 4.23% rise in the Sensex. The scrip had also outperformed the market in past one quarter, 10.80% as against Sensexs 7.92% rise. The scrip had also outperformed the market in past one year, 53.49% as against Sensexs 15.48% rise.

The large-cap company has equity capital of Rs 102.37 crore. Face value per share is Re 1.

Cadila Healthcare informed that the US Food and Drug Administration (USFDA) has given final approval to market Mesalamine delayed-release tablets USP, I.2 g in the US market. Cadila Healthcare was the first to file an Abbreviated New Drug Application (ANDA) for a generic version of Lialda (mesalamine).

Lialda is indicated for the treatment of mild to moderate ulcerative colitis. Ulcerative colitis is a chronic inflammatory bowel disease that affects approximately 700,000 people in the United States. The generic version of Lialda (mesalamine) will be produced at Moraiya plant in Ahmedabad. The estimated brand sales for Mesalamine delayed-release tablets USP, 1.2 g is $1.145 billion as per IMS MAT April 2017.

The group now has more than 115 approvals and has so far filed over 300 ANDAs since the commencement of the filing process in the financial year ended March 2004.

Cadila Healthcares consolidated net profit fell 32.2% to Rs 385.5 crore on 6.5% rise in net sales to Rs 2417.50 crore in Q4 March 2017 over Q4 March 2016.

Cadila Healthcare is an innovative, global pharmaceutical company that discovers, develops, manufactures and markets a broad range of healthcare therapies.

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Indias Seafood Export at all-time High in 2016-17 :MPEDA
Jun 07,2017

Riding on a robust demand for its frozen shrimp and frozen fish in international markets, India exported 11,34,948 MT of seafood worth an all time high of US$ 5.78 billion (Rs 37, 870.90 crore) in 2016-17 as against 9,45,892 tons and 4.69 billion dollars a year earlier, with USA and South East Asia continuing to be the major importers while the demand from the European Union (EU) grew substantially during the period.

Frozen shrimp maintained its position as the top item of export, accounting for 38.28 per cent in quantity and 64.50 per cent of the total earnings in dollar terms. Shrimp exports increased by 16.21 per cent in terms of quantity and 20.33 per cent in dollar terms. Frozen Fish was the second largest export item, accounting for a share of 26.15 per cent in quantity and 11.64 per cent in dollar earnings, registering a growth of 26.92 per cent in terms of value.

USA imported 1,88,617 MT of Indian seafood, accounting for 29.98 per cent in terms of dollar. Export to that country registered a growth of 22.72 per cent, 33 per cent and 29.82 per cent in terms of quantity, value in rupee and US dollars, respectively. South East Asia remained the second largest destination of Indias marine products, with a share of 29.91 per cent in dollar terms, followed by the EU (17.98 per cent), Japan (6.83 per cent), the Middle East (4.78 per cent), China (3.50 per cent) and other countries (7.03 per cent). Overall, exports to South East Asia increased by 47.41 per cent in quantity, 52.84 per cent in rupee value and 49.90 per cent in dollar earnings.

n++Increased production of L. Vannamei, diversification of aquaculture species, sustained measures to ensure quality, and increase in infrastructure facilities for production of value added products were largely responsible for Indias positive growth in exports of seafood,n++ said Mrs. Nirmala Sitharaman, Minister for Commerce and Industry.

The overall export of shrimp during 2016-17 was pegged at 4, 34,484 MT worth USD 3,726.36 million. USA was the largest import market for frozen shrimp (1, 65,827 MT), followed by the EU (77,178 MT), South East Asia (1, 05,763 MT), Japan (31,284 MT), Middle East (19,554 MT), China (7818 MT) and other countries (27,063 MT).

The export of Vannamei shrimp, a major seafood delicacy, improved from 2, 56,699 MT to 3,29,766 MT in 2016-17, registering a growth of 28.46 per cent in quantity. In value terms, 49.55 per cent of total Vannamei shrimp was exported to USA followed by 23.28 per cent to South East Asian countries, 13.17 per cent to the EU, 4.53 per cent to Japan, 3.02 per cent to the Middle East and 1.35 per cent to China.

Japan was the major market for Black Tiger shrimp with a share of 43.84 per cent in terms of value, followed by USA (23.44) and South East Asia (11.33). Frozen shrimp continued to be the principal export item to USA with a share of 94.77 per cent in dollar value while Vannamei shrimp to that country showed an increase of 25.60 per cent in quantity and 31.75 per cent in dollar terms.

Vietnam, with a share of 76.57 per cent in value (US dollar), was the major South East Asian market for Indian marine products, followed by Thailand (12.93 per cent), Taiwan (3.88 per cent), Malaysia (2.60 per cent), Singapore (2.21 per cent), South Korea (1.50 per cent) and other countries (0.30 per cent). Vietnam alone imported 3, 18,171 MT of Indian seafood, the quantity being much more than that of any other individual markets like US, Japan or China.

The EU continued to be the third largest destination for Indian marine products with a share of 16.73 per cent in quantity. Frozen shrimp was the major item of exports, accounting for 40.66 per cent in quantity and 55.15 per cent in dollar earnings out of the total exports to the EU. Exports of Vannamei shrimp to the EU improved by 9.76 per cent in quantity and 11.40 per cent in dollar value.

Japan, the fourth largest destination for Indian seafood, accounted for 6.83 per cent in earnings and 6.08 per cent in quantity terms. Frozen shrimp continued to be the major item of exports to Japan with a share of 45.31 per cent in quantity and 77.29 per cent in value out of the total exports to that country.

Besides frozen shrimp and frozen fish, Indias other major seafood product was frozen squid, which recorded a growth of 21.50 per cent, 59.44 per cent and 57 per cent in terms of quantity, rupee value and dollar earnings, respectively. Export of frozen cuttlefish showed a decline in quantity terms, but increased in the rupee value and dollar terms by 18.85 per cent and 16.95 per cent, respectively.

Dried items registered a growth of 40.98%, 20.14% & 79.05% in terms of quantity, rupee value and dollar terms, respectively. Indian ports handled a total marine cargo of 11,34,948 tons worth Rs 37,870.90 crore (5,777.61 million dollars) in 2016-17 as compared to 9,45,892 tons worth Rs 30,420.83 crore (4,687.94 million dollars) in 2015-16. Vizag, Kochi, Kolkata, Pipavav and Jawaharlal Nehru Port (JNP) were major ports that handled the marine cargo during 2016-17. Exports improved from Vizag, Kochi, Kolkata, Pipavav, JNP, Krishnapatanam and Tuticorin as compared to 2015-16.

Vizag port exported 1,59,973 tons of marine cargo worth Rs 9,294.31 crore (1,401.94 million US dollars) in 2016-17 as compared to 1,28,718 tons worth Rs 7,161 crore (1,105.76 million dollars) in 2015-16.

Vizag port was followed by Kochi (1,55,989 tons, Rs 4,447.05 crore), Kolkata (1,04668 tons, Rs 4,451.67 crore), Pipavav (2,32,391 tons, Rs 4,217.45 crore), JNP (1,49,914 tons, Rs 4,084.96 crore), Krishnapatnam (62,049 tons, Rs 3,701.63 crore), Tuticorin (42,026 tons, Rs 2,220.52 crore), and Chennai (37,305 tons, 1,693.87 crore).

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Vivimed Labs spurts after unit completes USFDA inspection
Jun 07,2017

The announcement was made after market hours yesterday, 6 June 2017.

Meanwhile, the S&P BSE Sensex was up 129.40 points, or 0.41% at 31,319.96. The S&P BSE Small-Cap index was up 133.81 points, or 0.87% at 15,444.34.

On the BSE, 3.48 lakh shares were traded on the counter so far as against the average daily volume of 2.81 lakh shares in the past one quarter. The stock had hit a high of Rs 113.90 and a low of Rs 109.25 so far during the day. The stock had hit a record high of Rs 136.40 on 20 April 2017 and hit a 52-week low of Rs 68 on 9 August 2016.

The stock had underperformed the market over the past one month till 6 June 2017, declining 3.67% compared with the Sensexs 4.46% rise. The scrip had also underperformed the market over the past one quarter advancing 2.59% as against the Sensexs 7.38% rise. The scrip had, however, outperformed the market over the past one year advancing 32.97% as against the Sensexs 16.48% rise.

The small-cap company has equity capital of Rs 16.40 crore. Face value per share is Rs 2.

Vivimed Labs said that its active pharmaceutical ingredient (API) manufacturing facility located in Sant Celoni, Spain was recently inspected by the US Food and Drug Administration (USFDA) in compliance with their requirements. At the end of the successful inspection, we have been informed by the investigator that zero 483 observations were issued. This was a routine inspection by the USFDA, the company said.

Vivimed Labs consolidated net profit spurted 810% to Rs 114.75 crore on 25.8% increase in net sales to Rs 436.68 crore in Q4 March 2017 over Q4 March 2016.

Vivimed Labs is a niche specialty chemicals and pharmaceuticals company.

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Vivimed Labs spurts after unit successfully completes USFDA inspection
Jun 07,2017

The announcement was made after market hours yesterday, 6 June 2017.

Meanwhile, the S&P BSE Sensex was up 129.40 points, or 0.41% at 31,319.96. The S&P BSE Small-Cap index was up 133.81 points, or 0.87% at 15,444.34.

On the BSE, 3.49 lakh shares were traded on the counter so far as against the average daily volume of 2.81 lakh shares in the past one quarter. The stock had hit a high of Rs 113.90 and a low of Rs 109.25 so far during the day. The stock had hit a record high of Rs 136.40 on 20 April 2017 and hit a 52-week low of Rs 68 on 9 August 2016.

The stock had underperformed the market over the past one month till 6 June 2017, declining 3.67% compared with the Sensexs 4.46% rise. The scrip had also underperformed the market over the past one quarter advancing 2.59% as against the Sensexs 7.38% rise. The scrip had, however, outperformed the market over the past one year advancing 32.97% as against the Sensexs 16.48% rise.

The small-cap company has equity capital of Rs 16.40 crore. Face value per share is Rs 2.

Vivimed Labs said that the companys API manufacturing facility located in Sant Celoni, Spain was recently inspected by the US Food and Drug Administration (USFDA) issued report with zero 483 observations.

Vivimed Labs consolidated net profit spurted 810% to Rs 114.75 crore on 25.8% increase in net sales to Rs 436.68 crore in Q4 March 2017 over Q4 March 2016.

Vivimed Labs is a niche specialty chemicals and pharmaceuticals company.

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