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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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RINL Signs MoU with CCI for setting up Cement Plant
Jul 15,2017

Rashtriya Ispat Nigam Limited (RINL), the corporate entity of Visakhapatnam Steel Plant and Cement Corporation of India (CCI), a PSU under Ministry of Heavy Industries and Public Enterprises signed a Memorandum of Understanding (MoU) in Vishakhapatnam today to set up 2 mtpa Fly Ash and Blast Furnace Slag based Cement Plant in a Joint Venture in two phases of one million tonne capacity each. RINL generates a large quantity of BF slag and fly ash, prime raw material for the Cement Plant.

Sri Manoj Misra, Chairman cum Managing Director representing CCI and Sri P.C. Mohapatra, Director (Projects) representing RINL signed the MoU in the presence of Sri P Madhusudan CMD,RINL.

The JV Project cost is approximately Rs.150 Cr. RINL is offering around 35 acres of land for the proposed plant in its premises. The project is proposed to be completed in 15 months from the date of placement of order.

Speaking on the occasion, Sri P Madhusudan, CMD,RINL expressed confidence that CCI would set up the plant with state of the art technology in a pollution free environment, with professional way and in a time bound manner. He observed that CCI should show commitment with their expertise to translate the dream into reality and RINL would extend necessary support to realize the goal in this regard, he added.

Sri Manoj Misra, CMD said that CCI is one of the lowest cost producer of cement in the country and joining hands with RINL will be a win-win situation for both the Companies and help both the PSUs to offer more integrated product solutions to their customers.

Executive Directors and General Managers from RINL were present on the occasion.

The location of the proposed plant shall result in immense logistical cost benefits due to availability of BF slag and Fly ash. The nearby port shall also provide avenues for export of Cement as well as import of Clinker, if required. Plant and machinery available with CCI are expected to bring down the project cost. The cost data as indicated by CCI apparently makes CCI one of the lowest cost manufacturers of Clinker in India.

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Andhra Pradesh Tanneries to hold AGM
Jul 15,2017

Andhra Pradesh Tanneries announced that the 43th Annual General Meeting(AGM) of the company on 11 August 2017.

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Regent Enterprises to hold board meeting
Jul 15,2017

Regent Enterprises will hold a meeting of the Board of Directors of the Company on 15 July 2017.

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Yuken India to hold board meeting
Jul 15,2017

Yuken India will hold a meeting of the Board of Directors of the Company on 29 July 2017 Others

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AIA Engineering to hold AGM
Jul 15,2017

AIA Engineering announced that the th Annual General Meeting(AGM) of the company on 14 August 2017.

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Rajratan Global Wire to hold AGM
Jul 15,2017

Rajratan Global Wire announced that the 29th Annual General Meeting(AGM) of the company on 11 August 2017.

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Kandagiri Spinning Mills to hold AGM
Jul 15,2017

Kandagiri Spinning Mills announced that the 41th Annual General Meeting(AGM) of the company on 12 August 2017.

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Sanghvi Movers to hold board meeting
Jul 15,2017

Sanghvi Movers will hold a meeting of the Board of Directors of the Company on 9 August 2017 Unaudited Financial Results of the Company for the quarter ended 30 June 2017

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Lakshmi Vilas Bank to hold board meeting
Jul 15,2017

Lakshmi Vilas Bank will hold a meeting of the Board of Directors of the Company on 25 July 2017 to consider the Un-Audited Financial Results of the Bank for the First Quarter ended 30.06.2017.

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Asian Petroproducts & Exports to hold board meeting
Jul 15,2017

Asian Petroproducts & Exports will hold a meeting of the Board of Directors of the Company on 27 May 2017.

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Banaras Beads to hold board meeting
Jul 15,2017

Banaras Beads will hold a meeting of the Board of Directors of the Company on 27 July 2017, to consider and take on record the Un-audited Financial Results (Provisional) and Limited Review Report for quarter ended on 30th June 2017 and compliance of other Provisions of the Listing Agreements.

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Elixir Capital to hold board meeting
Jul 15,2017

Elixir Capital will hold a meeting of the Board of Directors of the Company on 11 August 2017, to approve the Un-Audited Financial Results (Standalone / Consolidated) for the quarter ended 30th June 2017

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Railways Ministry to improve infrastructure; logistic becoming a new engine of growth: Suresh Prabhu
Jul 15,2017

Railway ministry is focussing more on improving the infrastructure of Indian Railways to create a proper logistics and seamless movement of traffic said Railways Minister Mr. Suresh Prabhu at an ASSOCHAM event.

Therefore, we have decided to create an infrastructure at much faster pace. Already we are creating infrastructure twice to speed than previous year and will increase every year, said Mr. Suresh Prabhu, Union Minister for Railways.

Mr. Prabhu said he has sanctioned 16,500 km of doubling and tripling lines as against only 22,000 km in the last 70 years. Only 42% of electrification has been made so far and will double in next five years plan.

n++We are already creating about 100 private freight terminals with private participation so that more and more traffic can come to the railwaysn++.

We are already plan to save about Rs. 41,000 crores from the energy bill and we have already saved about 10% of that. So, all of this will result in creating a good logistic backbone for India which will help India to do much better business as logistics is key to success of industrialisation. The port connectivity happens properly, we are also providing private participation into most of the sectors.

The GST (Goods Services and Tax) which is a game changer for the country is created a fiscal situation wherein goods and services can move from one end to another without any hindrance, said Mr. Prabhu .

On the histrionically low consumer price inflation, Mr. Prabhu said, this is the result of sound fiscal monetary policies in India. Our Prime Minister already said that people at large are suffering because of inflation being very high and the growth rate being low. So, it was double whammy. We actually reversed it, inflation is low and growth is high means the common people dont have to spend too much money on their daily necessities and they will have more savings.

So, this will be virtue cycle from the vicious one previously. Now, growth orientation will happen through participation of large number of people who will be entering the market as savers rather than just consumers and spenders. This will be a good beginning and probably over a period of time, will see more investments will come.

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WPI inflation dips to 11-month low of 0.9% in June 2017
Jul 14,2017

The Wholesale Price Index (WPI)-based inflation, base year 2011-12, dipped to a 11-month low of 0.9% in May 2017, showing sharp moderation for fourth straight months from 33-month high of 5.5% in February 2017. The WPI inflation dipped driven by fall in inflation for all three major sub-groups - primary articles, fuel and power group as well as manufactured products group in May 2017.

Inflation of primary articles plunged to (-) 3.9% in June 2017 from (-) 1.8% in May 2017. The inflation for fuel items dipped to 5.3% in June 2017 from 11.7% in May 2017. The inflation for manufactured products also fell to 2.3% in June 2017 from 2.6% in May 2017.

As per major commodity group-wise, inflation declined for foodgrains, vegetables, milk, spices, tea, coffee, betel leaves, fibres, oilseeds, fodder, metallic minerals, crude petroleum, mineral oils, electricity, food products, textiles, wearing apparel, paper & products, pharmaceutical products, rubber and plastic products, computer & products, machinery & equipment, motor vehicle, and other transport equipment in June 2017. On the other hand, inflation of fruits, egg, meat & fish, coking coal, beverages, leather products, wood products, media, chemical products, other non-metallic mineral products, basic metals, electrical equipment, furniture, and other manufacturing increased in June 2017.

Inflation of food items (food articles and food products) turned negative to (-) 1.2% in June 2017 from 0.1% in May 2017 level. Meanwhile, inflation of non-food items (all commodities excluding food items) also eased to 1.8% in June 2017 from 3.1% in May 2017.

Core inflation (manufactured products excluding foods products) eased marginally to 2.0% in June 2017 from 2.1% in May 2017.

The contribution of primary articles to the overall inflation, at 0.90%, was negative at (-) 103 basis points (bps) in June 2017 compared with (-) 47 bps to 2.17% in May 2017. The contribution of fuel product group dipped to 53 bps against 113 bps in May 2017, while that of manufactured products was lower at 144 bps compared with 163 bps.

The contribution of food items (food articles and food products) to inflation turned negative at (-) 37 bps in 0.90% in June 2017 compared with 4 bps to 2.17% in May 2017. Meanwhile, the contribution of non-food items (all commodities excluding food items) was 125 bps in June 2017 compared with 221 bps in May 2017.

The WPI inflation stood at 2.3% in April-June FY2018 against (-) 0.7% in April-June FY2017. The primary articles inflation was at (-) 1.6% in April-June FY2018 from 4.6% in April-June FY2017, while fuel products inflation increased to 11.2% from (-) 13.6%. The inflation for manufactured products bounced to 2.6% in April-June FY2018 from (-) 0.6% in April-June FY2017.

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PTC India announces cessation of director
Jul 14,2017

PTC India announced that Jyoti Arora, (DIN - 00353071), nominee of Ministry of Power, Government of India has completed her present tenure with Central Government on 05-07-2017 and ceased to be a Director on the Board of PTC India Ltd. w.e.f 06 July 2017.

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