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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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Veto Switchgears & Cables standalone net profit declines 36.95% in the March 2017 quarter
Jun 05,2017

Net profit of Veto Switchgears & Cables declined 36.95% to Rs 3.14 crore in the quarter ended March 2017 as against Rs 4.98 crore during the previous quarter ended March 2016. Sales declined 2.39% to Rs 33.13 crore in the quarter ended March 2017 as against Rs 33.94 crore during the previous quarter ended March 2016.

For the full year,net profit rose 59.14% to Rs 12.19 crore in the year ended March 2017 as against Rs 7.66 crore during the previous year ended March 2016. Sales rose 7.47% to Rs 120.30 crore in the year ended March 2017 as against Rs 111.94 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales33.1333.94 -2 120.30111.94 7 OPM %13.8821.13 -13.8517.77 - PBDT4.466.45 -31 17.0116.12 6 PBT4.035.97 -32 15.3514.15 8 NP3.144.98 -37 12.197.66 59

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Government to implement Indias first Rural LED Street Lighting Project in Andhra Pradesh
Jun 05,2017

Government of India, through the Energy Efficiency Services Limited (EESL) under the Ministry of Power, would be retrofitting 10 lakh conventional street lights with LED lights in Gram Panchayats of 7 districts in Andhra Pradesh. This is the first project for rural LED street lighting in the country under the Government of Indias Street Lighting National Project (SLNP). In the first phase, the replacement will be undertaken in gram panchayats of the districts of Guntur, Prakasham, Nellore, Kurnool, Kadapa, Ananthapur and Chittoor. This replacement drive in rural areas will help the gram panchayats to cumulatively save approximately 147 million units of electricity annually and lead to reduction of 12 crore tonnes of CO2. The entire upfront capital cost of this project is being funded by French Development Agency Agence Frann++aise de Dn++veloppement (AFD). As part of the project, EESL would be carrying out the entire annual maintenance and warranty replacement in these gram panchayats for a period of 10 years. Earlier this year, Chief Minister of Andhra Pradesh, Shri N. Chandrababu Naidu, had stated that approximately 30 lakh conventional street lights across villages in the state would be replaced by LED street lights by 2018. Through the installation of 10 lakh LED street lights, EESL has assured the State government of approximately 59 percent savings in electricity, which translates to annual monetary savings of ₹88.2 crores. Andhra Pradesh was the first state to seek assistance from EESL to replace conventional street lighting with LED lighting in Visakhapatnam, after the cyclone Hudhud caused extensive damage to the then existing street lighting infrastructure. Ever since then, EESL has installed over 5,90,000 LED street lights in the State. These installations have led to an annual savings of over 7.8 crore kWh, translating into an annual reduction of over 65,000 tonnes of CO2. Nationally, over 23 lakh conventional street lights have been replaced by LED street lights in 21 States of India. As per the 18th Electric Power Survey of Central Electricity Authority (CEA), the estimated energy consumption in Indian public lighting sector is 8478 M KWh in 2012-13 and is constantly growing at a CAGR of 7 percent. Keeping in mind this growth rate, Prime Minister Shri Narendra Modi launched 100 cities National Programme on January 5, 2015 to convert conventional street and domestic lights with energy efficient LED lights. Under Street Light National Programme (SLNP), the government aims at replacement of 1.34 crore conventional street lights across the country.

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MMFSL reverses recent vertical rally
Jun 05,2017

Meanwhile, the S&P BSE Sensex was up 36.20 points or 0.12% at 31,309.49

On BSE, 1.68 lakh shares were traded in the counter as against average daily volume of 2.50 lakh shares in the past one quarter. The stock hit a high of Rs 388 and low of Rs 370.50 in intraday trade. The stock had hit a record high of Rs 405 on 4 October 2016. The stock had hit a 52-week low of Rs 244.35 on 27 December 2016.

The stock had outperformed the market over the past one month till 2 June 2017, rising 17.9% compared with 3.81% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 34.58% as against Sensexs 8.47% rise. The scrip also outperformed the market in past year, surging 18.37% as against Sensexs 16.5% rise.

The large-cap company has equity capital of Rs 113.75 crore. Face value per share is Rs 2.

On a consolidated basis, Mahindra & Mahindra Financial Services consolidated net profit dropped 32.36% to Rs 278.22 crore on 11.95% growth in total income to Rs 2132.57 crore in Q4 March 2017 over Q4 March 2016.

Mahindra & Mahindra Financial Services (MMFSL), part of the Mahindra Group, is one of Indias leading non-banking finance companies with a pan India presence. Focused on the rural and semi-urban sector, it provides finance for vehicles and tractors and has the largest network of branches amongst NBFCs operating in these areas.

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Godrej Properties inches up after announcing residential project in NCR
Jun 05,2017

The announcement was made before market hours today, 5 June 2017.

Meanwhile, the S&P BSE Sensex was up 36.20 points, or 0.12%, to 31,309.49.

On the BSE, so far 58,000 shares were traded in the counter, compared with average daily volumes of 84,083 shares in the past one quarter. The stock hit a high of Rs 536.90 and a low of Rs 524.95 so far during the day. The stock hit a record high of Rs 585.05 on 3 May 2017. The stock hit a 52-week low of Rs 285 on 21 November 2016.

The large-cap company has equity capital of Rs 108.18 crore. Face value per share is Rs 5.

Godrej Properties said that the Sohna real estate project in National Capital Region (NCR) will offer approximately 157,000 square meters (approximately 1.7 million sq. ft.) of saleable area and will be developed as a modern group housing development. This project is located 12 kms from Golf Course Extension Road and offers easy access to Gurgaon from Sohna Road.

On a consolidated basis, Godrej Properties reported net profit of Rs 62.59 crore for Q4 March 2017 as against net loss of Rs 10.74 crore for Q4 March 2016. Total income rose 21.14% to Rs 475.23 crore in Q4 March 2017 over Q4 March 2016.

Godrej Properties is a real estate developer. It is currently developing residential, commercial and township projects spread across approximately 13.16 million square meters (134.69 million square feet) in 12 cities.

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Board of ICICI Bank approves sale of part stake in ICICI Lombard GIC through IPO
Jun 05,2017

ICICI Bank announced that the Board of Directors of the Company approved the sale of a part of its shareholding in ICICI Lombard General Insurance Company (the Company) in an initial public offering by the Company, subject to requisite approvals and market conditions. The size and other details of the offer would be determined in due course.

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Deepak Nitrite scales record high after bulk deal
Jun 05,2017

Meanwhile, the S&P BSE Sensex was up 33.91 points, or 0.11%, to 31,307.20. The S&P BSE Small-Cap index was up 94.38 points or 0.62% at 15,405.55.

Bulk deal boosted volume on the scrip. On the BSE, 8.05 lakh shares were traded on the counter so far as against the average daily volumes of 53,444 shares in the past one quarter. The stock hit a high of Rs 154 in intraday trade so far, which is record high for the counter. The stock had hit a low of Rs 140.50 so far during the day. The stock had hit a 52-week low of Rs 75.80 on 26 December 2016.

The small-cap company has equity capital of Rs 26.14 crore. Face value per share is Rs 2.

Deepak Nitrites net profit rose 0.97% to Rs 20.76 crore on 4.5% decline in net sales to Rs 320.73 crore in Q4 March 2017 over Q4 March 2016.

Deepak Nitrite is a multi-division and multi-product company. The companys portfolio is a wide spectrum of products with diverse applications ranging from agrochemicals, rubber, pharmaceuticals, paper, textile, detergent, colourants, and petrochemicals to speciality and fine chemicals.

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Godrej Consumer Products fixes record date for bonus issue
Jun 05,2017

Godrej Consumer Products has fixed 24 June 2017 as record date for bonus issue.

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Board of Coral India Finance & Housing approves sub-division of shares
Jun 05,2017

Coral India Finance & Housing announced that the Board of Directors of the Company at its meeting held on 05 June 2017, has considered the matter of Sub Division of Shares and Reconstitution of Board, the following was approved:

- The Split Ratio for Sub Division of Equity Shares shall be Rs. 2/- per Equity Share from the face value of Rs. 10/- per Equity Share.

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Board of Frontier Capital does not recommend dividend
Jun 05,2017

Frontier Capital announced that the Board of Directors of the Company have not recommended dividend for FY 2017 at meeting held on 29 May 2017.

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Hotel Leelaventure jumps 12% in two sessions
Jun 05,2017

The company issued clarification during market hours on Friday, 2 June 2017. Shares of Hotel Leelaventure rose 2.67% to settle at Rs 23.10 on that day. The stock has risen 12% in two trading sessions from its close of Rs 22.50 on Thursday, 1 June 2017.

Meanwhile, the S&P BSE Sensex was up 28.54 points, or 0.09% to 31,301.83.

On the BSE, 5.09 lakh shares were traded in the counter so far, compared with average daily volumes of 2.78 lakh shares in the past one quarter. The stock had hit a high of Rs 25.85 and a low of Rs 22.75 so far during the day. The stock hit a 52-week high of Rs 27.25 on 10 May 2017. The stock hit a 52-week low of Rs 15 on 25 November 2016.

The stock had outperformed the market over the past one month till 2 June 2017, rising 11.59% compared with 3.81% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 46.20% as against Sensexs 8.47% rise. The scrip had also outperformed the market in past one year, rising 34.69% as against Sensexs 16.50% rise.

The small-cap company has equity capital of Rs 93.32 crore. Face value per share is Rs 2.

Hotel Leelaventure added that, however, no binding agreement has been signed with any party as on date. The company issued the clarification after media reports indicated that Marigold Capital and Investments is likely to buy Leela Groups 326-room hotel in Chennai.

Marigold Capital and Investment is an American private equity fund and is looking to buy the hotel for around Rs 700 crore, reports said. Marigold Capital and Investments specialises in acquiring debt-ridden hotels and commercial real estate properties and turning them into profitable businesses.

Hotel Leelaventure reported net profit of Rs 13.42 in Q4 March 2017 compared with net loss of Rs 228.87 crore in Q4 March 2016. Net sales rose 2.3% to Rs 198.35 crore in Q4 March 2017 over Q4 March 2016.

Hotel Leelaventure is a leading Indian luxury hospitality group founded in 1986.

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Airtel Business launches first of its kind Digital Platform
Jun 05,2017

Airtel Business, the B2B arm of Bharti Airtel has rolled out a first of its kind dedicated digital platform to serve the growing connectivity, communication and collaboration requirements of Emerging Businesses,including SMEs and Startups. The digital platform will offer solutions to emerging enterprises to enable ease of business and faster time to market.

Airtels new digital platform on http://www.airtel.in/business/business-internet will offer connectivity solutions to start with and will be integrated with more solutions periodically. Emerging businesses cannow discover and buy connectivity plans in just three easy steps- (i) Select a plan most suited for them; (ii) Pin their location to check feasibility; (iii) Place an order. This eliminates multiple layers of traditionalprocesses to offer a fast and convenient way to identify connectivity solutions bringing down the total time required to order and deploy a solution by up to 70%.

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JVL Agro drops on profit booking
Jun 05,2017

Meanwhile, the S&P BSE Sensex was up 51.14 points, or 0.16% at 31,324.43. The S&P BSE Small-Cap index was up 103.33 points, or 0.66% at 15,412.50.

High volumes were witnessed on the counter. On the BSE, 3.86 lakh shares were traded on the counter so far as against the average daily volumes of 2.03 lakh shares in the past one quarter. The stock had hit a high of Rs 22.35 and a low of Rs 20.85 so far during the day. The stock had hit a 52-week high of Rs 25.45 on 22 June 2016 and hit a 52-week low of Rs 14 on 22 November 2016.

The stock had outperformed the market over the past one month till 2 June 2017, advancing 6.93% compared with the Sensexs 4.52% rise. The scrip had also outperformed the market over the past one quarter gaining 10.2% as against the Sensexs 8.44% rise. The scrip had also outperformed the market over the past one year advancing 17.07% as against the Sensexs 16.5% rise.

The small-cap company has equity capital of Rs 16.79 crore. Face value per share is Rs 1.

JVL Agro Industries had rallied 20% in the preceding one trading session to settle at Rs 21.60 on Friday, 2 June 2017, from its closing of Rs 18 on 1 June 2017.

JVL Agro Industries reported consolidated net loss of Rs 5.13 crore in Q4 March 2017, compared with net profit of Rs 0.94 crore in Q4 March 2016. Net sales fell 0.4% to Rs 855.18 crore in Q4 March 2017 over Q4 March 2016.

JVL Agro Industries is engaged in the operations related to production of vanaspati, refine and mustard oil, and trading of goods.

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Bank of Baroda reviews MCLR rates
Jun 05,2017

Bank of Baroda has revised its MCLR rates with effect from 07 June 2017 as under -

Overnight - 8.10%
One month - 8.15%
Three months - 8.20%
Six months - 8.30%
One year - 8.35%
Three years - 8.50%
Five years - 8.65%

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Kanak Krishi Implements announces resignation of director
Jun 05,2017

Kanak Krishi Implements announced that Love kumar having DIN: 06786190 has resigned from the Post of Directorship with effect from 16 May 2017.

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Mangalore Chemicals & Fertilizers announces resignation of director
Jun 05,2017

Mangalore Chemicals & Fertilizers announced that Kapil Mehan (DIN: 01215092), Non-Executive Director has resigned from the Board of Directors of the Company with effect from 03 June 2017.

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