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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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Confidence Petroleum corrects on profit booking
Jul 07,2017

Meanwhile, the S&P BSE Sensex was down 51.26 points, or 0.16% to 31,318.08.

On the BSE, 2.72 lakh shares were traded in the counter so far, compared with average daily volumes of 6.52 lakh shares in the past one quarter. The stock had hit a high of Rs 17.64 and a low of Rs 16.77 so far during the day. The stock hit a 52-week high of Rs 17.97 on 6 July 2017. The stock hit a 52-week low of Rs 4.87 on 7 July 2016.

The stock had outperformed the market over the past one month till 6 July 2017, rising 35.77% compared with 0.31% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 123.14% as against Sensexs 5.60% rise. The scrip had also outperformed the market in past one year, rising 260.20% as against Sensexs 15.32% rise.

The small-cap company has equity capital of Rs 25.88 crore. Face value per share is Re 1.

Shares of Confidence Petroleum India rose 26.89% in nine trading sessions to settle at Rs 17.65 yesterday, 6 July 2017, from its close of Rs 13.91 on 22 June 2017.

Recent rise in the stock was triggered by the company winning orders worth Rs 361.96 crore for supplying LPG cylinders. The announcement was made during trading hours on Wednesday, 5 July 2017. Shares of Confidence Petroleum India hit an upper circuit limit of 5% to settle at Rs 17.27 on 5 July 2017.

Confidence Petroleum India will supply 30,16,352 LPG cylinders. The orders have been awarded by the BPCL, HPCL and Indian Oil Corporation, with an option of order for equivalent quantity next year, the company said in a statement.

On a consolidated basis, Confidence Petroleum India reported net loss of Rs 0.10 crore in Q4 March 2017 as against net profit of Rs 0.01 crore in Q4 March 2016. Net sales rose 69.74% to Rs 157.55 crore in Q4 March 2017 over Q4 March 2016.

Confidence Petroleum India is manufacturer of liquefied petroleum gas (LPG) cylinders for domestic, as well as commercial use.

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Export of Oilmeals Up by 64% in April - June 2017
Jul 07,2017

The Solvent Extractors Association of India has compiled the export data for export of oilmeals for the month of June 2017. The export during June 2017 is reported at 150,918 tons compared to 132,771 tons in June 2016 i.e. up by 14%. The overall export of oilmeals during April - June 2017 provisionally reported at 499,140 tons compared to 304,703 tons during the same period of last year i.e. Up by 64%.

In last three 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 it is 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 which affected export of oilmeals to a lowest level.

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Maruti Suzuki India gets NCLT approval for scheme of amalgamation
Jul 07,2017

Maruti Suzuki India announced that the National Company Law Tribunal vide its order dated 27 June 2017 has approved the scheme of amalgamation of Maruti Suzuki India (Amalgamated Company) and seven of its wholly owned subsidiary companies, i.e.,(i) Maruti Insurance Business Agency; (ii) Maruti Insurance Distribution Services ; (iii) Maruti Insurance Agency Network ; (iv) Maruti Insurance Agency Solutions ; (v) Maruti Insurance Agency Services ; (vi) Maruti Insurance Agency Logistics and (vii) Maruti Insurance Broker (Amalgamating Companies).

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Glenmark Pharma gains after getting USFDA nod for generic drug
Jul 07,2017

The announcement was made before market hours today, 7 July 2017.

Meanwhile, the BSE Sensex was down 49.21 points, or 0.16%, to 31,320.13

On the BSE, 42,000 shares were traded in the counter so far, compared with average daily volumes of 1.45 lakh shares in the past one quarter. The stock had hit a high of Rs 667.65 and a low of Rs 656.55 so far during the day. The stock had hit a 52-week high of Rs 993 on 1 November 2016. The stock had hit a 52-week low of Rs 600 on 29 May 2017.

The stock had outperformed the market over the past one month till 6 July 2017, rising 1.07% compared with 0.31% rise in the Sensex. The scrip, however, underperformed the market in past one quarter, sliding 24.06% as against Sensexs 5.60% rise. The scrip had also underperformed the market in past one year, sliding 20.09% as against Sensexs 15.32% rise.

The large-cap company has equity capital of Rs 28.22 crore. Face value per share is Re 1.

Glenmark Pharmaceuticals said that Glenmark Pharmaceuticals Inc., USA was granted final approval by the United States Food & Drug Administration (USFDA) for Amlodipine and Olmesartan Medoxomil Tablets, 5 mg/20 mg, 5 mg/40 mg, 10 mg/20 mg, and 10 mg/40 mg, the generic version of Azor Tablets, 5 mg/20 mg, 5 mg/40 mg, 10 mg/20 mg, and 10 mg/40 mg, of Daiichi Sankyo, Inc.

According to IMS Health sales data for the 12 month period ended May 2017, the Azor Tablets, 5 mg/20 mg, 5 mg/40 mg, 10 mg/20 mg, and 10 mg/40 mg market achieved annual sales of approximately $211.6 million.

The companys current portfolio consists of 119 products authorized for distribution in the US marketplace and 66 ANDAs pending approval with the USFDA. In addition to these internal filings, Glenmark continues to identify and explore external development partnerships to supplement and accelerate the growth of its existing pipeline and portfolio, the company said.

On a consolidated basis, Glenmark Pharmaceuticals net profit rose 23.5% to Rs 183.76 crore on 10.2% rise in net sales to Rs 2424.41 crore in Q4 March 2017 over Q4 March 2016.

Glenmark Pharmaceuticals is a research-driven, global, integrated pharmaceutical organization headquartered at Mumbai, India. The company is a leading player in the discovery of new molecules both NCEs (new chemical entity) and NBEs (new biological entity). It has several molecules in various stages of clinical development and is primarily focused in the areas of oncology, dermatology and respiratory.

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NBCC (India) intimates of land purchase from Air India
Jul 07,2017

NBCC (India) announced that Air India has agreed to sell its assets measuring one acre land (estimated) in the State of Mauritius to NBCC (India) and the transaction valuing Rs 3.10 crore will take place within a few days.

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Balaji Amines gains on receiving approval for expansion
Jul 07,2017

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

Meanwhile, the S&P BSE Sensex was down 55.63 points, or 0.18% to 31,313.71.

On the BSE, 32,000 shares were traded in the counter so far, compared with average daily volumes of 5,249 shares in the past one quarter. The stock had hit a high of Rs 382 and a low of Rs 355.60 so far during the day. The stock hit a record high of Rs 401.10 on 24 April 2017. The stock hit a 52-week low of Rs 249.20 on 14 July 2016.

The stock had outperformed the market over the past one month till 6 July 2017, rising 0.46% compared with 0.31% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 8.47% as against Sensexs 5.60% rise. The scrip had outperformed the market in past one year, rising 29.68% as against Sensexs 15.32% rise.

The small-cap company has equity capital of Rs 6.48 crore. Face value per share is Rs 2.

Balaji Amines said it received approval from Ministry of Environment, Forest and Climate Change, Government of India (GoI) for expansion project, which includes Acetonitrile (ACN), Morpholine (MOR) & Di Methyl Amine Hydrochloride (DMAHCL) products. The project is situated at Solapur in Maharashtra. The approval was granted with a condition of acquiring no-objection certificate (NOC) from National Board for Wild Life for which the company has already applied to the GoI.

Balaji Amines net profit fell 23.4% to Rs 17.87 crore on 7.3% increase in net sales to Rs 193.14 crore in Q4 March 2017 over Q4 March 2016.

Balaji Amines makes methylamines, ethylamines, derivatives of specialty chemicals and natural products.

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Government of India in consultation with RBI decides to issue Sovereign Gold Bond Scheme 2017-18Gô Series II
Jul 07,2017

Government of India, in consultation with the Reserve Bank of India, has decided to issue Sovereign Gold Bonds 2017-18 G Series II. Applications for the bond will be accepted from July 10, 2017 to July 14, 2017. The Bonds will be issued on July 28, 2017. The Bonds will be sold through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange. The features of the Bond are given below:

Sl. No.ItemDetails1

Product name

Sovereign Gold Bond 2017-18 G Series II

2

Issuance

To be issued by Reserve Bank India on behalf of the Government of India.

3

Eligibility

The Bonds will be restricted for sale to resident Indian entities including individuals, HUFs, Trusts, Universities and Charitable Institutions.

4

Denomination

The Bonds will be denominated in multiples of gram(s) of gold with a basic unit of 1 gram.

5

Tenor

The tenor of the Bond will be for a period of 8 years with exit option from 5th year to be exercised on the interest payment dates.

6

Minimum size

Minimum permissible investment will be 1 gram of gold.

7

Maximum limit

The maximum amount subscribed by an entity will not be more than 500 grams per person per fiscal year (April-March). A self-declaration to this effect will be obtained.

8

Joint holder

In case of joint holding, the investment limit of 500 grams will be applied to the first applicant only.

9

Issue price

Price of Bond will be fixed in Indian Rupees on the basis of simple average of closing price of gold of 999 purity published by the India Bullion and Jewellers Association Limited for the week (Monday to Friday) preceding the subscription period.The issue price of the Gold Bonds will be ` 50 per gram less than the nominal value.

10

Payment option

Payment for the Bonds will be through cash payment (upto a maximum of Rs. 20,000) or demand draft or cheque or electronic banking.

11

Issuance form

The Gold Bonds will be issued as Government of India Stocks under GS Act, 2006. The investors will be issued a Holding Certificate for the same. The Bonds are eligible for conversion into demat form.

12

Redemption price

The redemption price will be in Indian Rupees based on previous weeks (Monday-Friday) simple average of closing price of gold of 999 purity published by IBJA.

13

Sales channel

Bonds will be sold through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices as may be notified and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange, either directly or through agents.

14

Interest rate

The investors will be compensated at a fixed rate of 2.50 per cent per annum payable semi-annually on the nominal value.

15

Collateral

Bonds can be used as collateral for loans. The loan-to-value (LTV) ratio is to be set equal to ordinary gold loan mandated by the Reserve Bank from time to time.

16

KYC Documentation

Know-your-customer (KYC) norms will be the same as that for purchase of physical gold. KYC documents such as Voter ID, Aadhaar card/PAN or TAN /Passport will be required.

17

Tax treatment

The interest on Gold Bonds shall be taxable as per the provision of Income Tax Act, 1961 (43 of 1961). The capital gains tax arising on redemption of SGB to an individual has been exempted. The indexation benefits will be provided to long term capital gains arising to any person on transfer of bond

18

Tradability

Bonds will be tradable on stock exchanges within a fortnight of the issuance on a date as notified by the RBI.

19

SLR eligibility

The Bonds will be eligible for Statutory Liquidity Ratio purposes.

20

Commission

Commission for distribution of the bond shall be paid at the rate of 1% of the total subscription received  by  the  receiving offices and receiving offices shall share at least 50% of the commission so received with the agents or sub agents for the business procured through them.

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Government of India in consultation with RBI decides to issue Sovereign Gold Bond Scheme 2017-18 Series II
Jul 07,2017

Government of India, in consultation with the Reserve Bank of India, has decided to issue Sovereign Gold Bonds 2017-18 Series II. Applications for the bond will be accepted from July 10, 2017 to July 14, 2017. The Bonds will be issued on 28 July 2017. The Bonds will be sold through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange. The features of the Bond are given below:

Sl. No.ItemDetails1

Product name

Sovereign Gold Bond 2017-18 Gô Series II

2

Issuance

To be issued by Reserve Bank India on behalf of the Government of India.

3

Eligibility

The Bonds will be restricted for sale to resident Indian entities including individuals, HUFs, Trusts, Universities and Charitable Institutions.

4

Denomination

The Bonds will ben++denominated in multiples of gram(s) of gold with a basic unit of 1 gram.

5

Tenor

The tenor of the Bond will be for a period of 8 years with exit option from 5th year to be exercised on the interest payment dates.

6

Minimum size

Minimum permissible investment will be 1 gram of gold.

7

Maximum limit

The maximum amount subscribed by an entity will not be more than 500 grams per person per fiscal year (April-March). A self-declaration to this effect will be obtained.

8

Joint holder

In case of joint holding, the investment limit of 500 grams will be applied to the first applicant only.

9

Issue price

Price of Bond will be fixed in Indian Rupees on the basis of simple average of closing price of gold of 999 purity published by the India Bullion and Jewellers Association Limited for the week (Monday to Friday) preceding the subscription period.The issue price of the Gold Bonds will be ` 50 per gram less than the nominal value.

10

Payment option

Payment for the Bonds will be through cash payment (upto a maximum of Rs. 20,000) or demand draft or cheque or electronic banking.

11

Issuance form

The Gold Bonds will be issued as Government of India Stocks under GS Act, 2006. The investors will be issued a Holding Certificate for the same. The Bonds are eligible for conversion into demat form.

12

Redemption price

The redemption price will be in Indian Rupees based on previous weeks (Monday-Friday) simple average of closing price of gold of 999 purity published by IBJA.

13

Sales channel

Bonds will be sold through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices as may be notified and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange, either directly or through agents.

14

Interest rate

The investors will be compensated at a fixed rate of 2.50 per cent per annum payable semi-annually on the nominal value.

15

Collateral

Bonds can be used as collateral for loans. The loan-to-value (LTV) ratio is to be set equal to ordinary gold loan mandated by the Reserve Bank from time to time.

16

KYC Documentation

Know-your-customer (KYC) norms will be the same as that for purchase of physical gold. KYC documents such asn++Voter ID, Aadhaar card/PAN or TAN /Passport will be required.

17

Tax treatment

The interest on Gold Bonds shall be taxable as per the provision of Income Tax Act, 1961 (43 of 1961). The capital gains tax arising on redemption of SGB to an individual has been exempted. The indexation benefits will be provided to long term capital gains arising to any person on transfer of bond

18

Tradability

Bonds will be tradable on stock exchanges within a fortnight of the issuance on a date as notified by the RBI.

19

SLR eligibility

The Bonds will be eligible for Statutory Liquidity Ratio purposes.

20

Commission

Commission for distribution of the bond shall be paid at the rate of 1% of the total subscription receivedn++ byn++ then++ receiving offices and receiving offices shall share at least 50% of the commission so received with the agents or sub agents for the business procured through them.

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Infosys partners with Udacity for second consecutive year
Jul 07,2017

Infosys announced that it has fortified its partnership with Udacity, a global online education company, for the second consecutive year. The joint endeavor, aimed at accelerating the pace of skill adoption in new technologies and industry skills in the new batch of trainees of Infosys, offers a Nanodegree program online in an innovative curriculum. It also enables the learner to develop unique, in-demand skills through project-based and real-world scenarios.

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Titan Company to hold board meeting
Jul 07,2017

Titan Company will hold a meeting of the Board of Directors of the Company on 3 August 2017 Quarterly Results

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G M Breweries drops after poor Q1 outcome
Jul 07,2017

The result was announced after market hours yesterday, 6 July 2017.

Meanwhile, the S&P BSE Sensex was down 51.51 points or 0.16% at 31,317.83. The S&P BSE Small-Cap index was up 33.67 points or 0.21% at 15,823.34.

On BSE, so far 8,267 shares were traded in the counter as against average daily volume of 6,719 shares in the past one quarter. The stock hit a high of Rs 471.40 and a low of Rs 448.25 so far during the day. The stock had hit a 52-week high of Rs 682.55 on 5 October 2016. The stock had hit a 52-week low of Rs 394 on 30 May 2017.

The stock had outperformed the market over the past one month till 6 July 2017, rising 11.86% compared with 0.31% rise in the Sensex. The scrip, however, underperformed the market in past one quarter, rising 4.04% as against Sensexs 5.60% rise. The scrip had also underperformed the market in past one year, sliding 21.29% as against Sensexs 15.32% rise.

The small-cap company has equity capital of Rs 14.62 crore. Face value per share is Rs 10.

G M Breweries is engaged in manufacturing and marketing of country liquor.

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Cholamandalam Investment & Fin. Co. to hold board meeting
Jul 07,2017

Cholamandalam Investment & Fin. Co. will hold a meeting of the Board of Directors of the Company on 27 July 2017 to interalia consider and approve the unaudited financial results for the quarter ended 30th June 2017 and issuance of non-convertible debentures (Secured Debentures and Unsecured Debentures in the nature of subordinated debt and perpetual debt).

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OnMobile Global to hold board meeting
Jul 07,2017

OnMobile Global will hold a meeting of the Board of Directors of the Company on 27 July 2017 to consider and approve inter alia the unaudited financial results of the Company under IND-AS for the quarter ended June 30, 2017.

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Labour ministry likely to amalgamate and simplify 4 labour course : Bandaru Dattatreya
Jul 07,2017

Union Labour and Employment Minister Mr. Bandaru Dattatreya today said, out of 44 labour laws, we are going to amalgamate, simplify and rationalise into four labour course at an ASSOCHAM event.

The government plans to create 65 million jobs by 2026, said Mr. Bandaru Dattatreya, Minister for Labour and Employment. He further said, the government recognises the importance of skilling the workforce, has allocated Rs. 16,000 crore for skilling.

Mr. Dattatreya further said that Industry should focus more on social security of employees to increase productivity.

Mr Girish Shankar, Secretary, Ministry of Heavy Industries & Public Enterprises said, there is a huge gap, which the auto industry must address to ensure Make in India is really creating and developing in India. The Original Equipment Manufacturer (OEM) need to make substantial investments in engineering R&D for designing and developing in India, so that India graduates to a truly Auto Engineering hub rather than continue to be a place to manufacture to prints only.

We request the auto majors to consider this seriously and fast enough. Also, suggest to us as to how to support this through an appropriate policy framework. We are already working towards this direction, said Mr. Shankar.

Secretary, Ministry of Heavy Industries & Public Enterprises said, Department of heavy industries being the administrative ministry for the automotive industry has onus of leading and steering the policy alignment for the industry to meet the expectations towards Green Mobility in India.

We have finalised the net automotive mission plan (AMP) 2016-2026. AMP 2026 is, as was the case for the previous one, a combined effort of the government of India and the industry to chart a growth path that we jointly seek to achieve. It also seeks to define the trajectory of evolution of the automotive ecosystem in India including the glide path of specific regulations and policies that govern a wide range of parameters that affect the industry.

As an outcome of the AMP 2026 we are planning that the Indian Automotive industry will grow 3.5-4 times in value from its current output of around Rs. 4,64,000 crore in 2015 to about Rs. 16,16,000- 18,89,500 crore by 2026 considering an average GDP growth ranging between 5.8% to 7.5% during the period.

The Auto industry generates demand for the rest of the manufacturing sector. Being the leading sector for overall economic growth, this sector is the driving engine for the Make in India programme, targeting an annual production of RS. 16 to 19 lakh crore in terms of its size and establish itself firmly on the global stage. By 2026 India could stand first in the world in production and sale of small cars two wheelers, three wheelers and buses, third in passenger vehicle and heavy trucks all adding up to 12% of GDP.

Exports of the automotive vehicles which was at the level of Rs 62,500 crores in 2015, is targeted to go up to between Rs. 2,23,300 crores by 2026. Besides it would also be a key player in skill India programme targeting an additional 65 million jobs said Mr. Shankar.

The government of India plans to introduce a new Green Urban Transport Scheme with a central assistance of about Rs. 25,000 crores aimed at boosting the growth of urban transport along low carbon path for substantial reduction in pollution and providing a framework for funding urban mobility projects at National , State and City level with minimum recourse to budgetary allocation support by encouraging innovative financing projects.

Mr R S Kalsi, Chairman, Auto Council ASSOCHAM, thanked the government for being considerate to the needs of industry and cited n++path breaking efforts in highway development, progressive regulations and tax reformsn++ as major positives.

Mr Kalsi assured that the industry was fully committed to n++Greening Indian++ and that the increase in taxation on hybrid cars under GST has n++surprised automobile manufacturers as well as the component industryn++. He drew attention to the National Electric Mobility Mission Plan 2020, and said in response to the governments call, industry had invested in hybrid technologies and was now planning to n++step up investment and bring newer productsn++.

Emphasising the close connection between electric and hybrid technology, Mr Kalsi said key components such as electric motor and lithium ion battery are common to both these clean technologies. Encouraging hybrid technology now, which is relatively less expensive and does not require charging infrastructure, will lead to localization of parts and reduction in cost, thus helping build the eco system for electric mobility in India.

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Epic Energy to hold board meeting
Jul 07,2017

Epic Energy will hold a meeting of the Board of Directors of the Company on 13 July 2017 Shifting of the Registered Office within the local limit from 119, Patilwadi, Office No. 1 to 3,Near Rabale Railway Station, Rabale (West), Navi Mumbai-400701 to Office No. 1,Ground Floor, SUNSHINE WILLOWS, Plot No. 18, Sector-8, Ghansoli, Navi Mumbai,400701, Maharashtra.

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