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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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Board of Stampede Capital approves change in directorate
Mar 21,2017

Stampede Capital announced that the Board of Directors of the Company at their meeting held on 20 March 2017 approved the following -

Accepted the resignation of M V Laxmi, and appointed Chukka Lakshmi Woman Director of the Company with effect from 20 March 2017.

Approved the Postal Ballot Notice for the following resolutions -

a. Issue of Convertible Share Warrants to Non-Promoter(s)/Non-Promoter Group of the Company on preferential basis;
b. Issue of Equity Shares and/or Other Securities
c. Investments in any Body Corporate including Subsidiaries
d. Increase in Authorized Share Capital
e. Amendment of Capital Clause of the MoA
f. To sell lease or otherwise dispose of the assets of the Subsidiary Company
g. Issue of ESOP Shares/Sweat Equity to the Key Managerial Persons by Stampede Tradex, Singapore
h. Authorization and approval for Conversion of Unsecured Loan of Usha Rani Meenavalli, Promoter into Equity Shares of the Company;
i. Re-classification of K. Bhaskar Reddy from Promoter to Public Group.

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Board of Stampede Capital approves change in directorate
Mar 21,2017

Stampede Capital announced that the Board of Directors of the Company at their meeting held on 20 March 2017 approved the following -

Accepted the resignation of M V Laxmi, and appointed Chukka Lakshmi Woman Director of the Company with effect from 20 March 2017.

Approved the Postal Ballot Notice for the following resolutions -

a. Issue of Convertible Share Warrants to Non-Promoter(s)/Non-Promoter Group of the Company on preferential basis;
b. Issue of Equity Shares and/or Other Securities
c. Investments in any Body Corporate including Subsidiaries
d. Increase in Authorized Share Capital
e. Amendment of Capital Clause of the MoA
f. To sell lease or otherwise dispose of the assets of the Subsidiary Company
g. Issue of ESOP Shares/Sweat Equity to the Key Managerial Persons by Stampede Tradex, Singapore
h. Authorization and approval for Conversion of Unsecured Loan of Usha Rani Meenavalli, Promoter into Equity Shares of the Company;
i. Re-classification of K. Bhaskar Reddy from Promoter to Public Group.

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NLC India to pay interim dividend for FY 2017
Mar 21,2017

NLC India will pay interim dividend for FY 2017 on or before 31 March 2017.

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Board of Engineers India approves buyback of shares for an aggregate Rs 658.80 crore
Mar 21,2017

The Board of Directors of Engineers India at their meeting held on 20 March 2017 has approved the following -

Approved the alteration of Article of Association to empower the Company to buyback its shares.

Approved the proposal to buyback not exceeding 4,19,61,780 equity shares of the Company (representing 6.23% of the total number of shares in the paid up share capital of the Company) at a price of Rs 157 per share payable in cash for an aggregate consideration not exceeding Rs 658.80 crore.

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Satra Properties (India) provides update on subsidiary - Satra Property Developers
Mar 21,2017

Satra Properties (India) announced that Satra Property Developers, Wholly Owned Subsidiary of the Company has divested its 49% stake in Satra Realty and Builders, its Wholly Owned Subsidiary.

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Shares of Avenue Supermarts get listed
Mar 21,2017

The equity shares of Avenue Supermarts (Scrip Code: 540376) are listed effective 21 March 2017 and admitted to dealings on the Exchange in the list of B Group Securities.

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HCL Tech inches up as board approves share buyback
Mar 21,2017

The announcement was made after market hours yesterday, 20 March 2017.

Meanwhile, the S&P Sensex was up 23.31 points or 0.08% at 29,542.05.

On the BSE, 56,000 shares were traded on the counter so far as against the average daily volumes of 84,433 shares in the past one quarter. The stock had hit a high of Rs 874.60 and a low of Rs 864 so far during the day.

The stock had hit a 52-week high of Rs 879.15 on 20 March 2017 and a 52-week low of Rs 706.50 on 11 May 2016. The stock had underperformed the market over the past one month till 20 March 2017, advancing 2.57% compared with the Sensexs 2.99% rise. The scrip had also underperformed the market over the past one quarter, rising 4.14% as against the Sensexs 12.2% rise.

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

HCL Technologies board at its meeting held yesterday, 20 March 2017, approved buyback of up to 3.50 crore fully paid-up equity shares of the company at Rs 1000 per share, for an aggregate amount not exceeding Rs 3500 crore.

The buyback price of Rs 1000 is at a premium of 15.83% to the stocks closing price of Rs 863.30 yesterday, 20 March 2017.

The buyback is proposed to be made from the shareholders of the company on a proportionate basis, through the tender offer route. The announcement was made after market hours yesterday, 20 March 2017.

Separately, HCL Technologies said that it has been chosen as the strategic IT services provider to the Volvo Ocean Race. HCL will be responsible for developing and delivering IT solutions for the 2017-18 edition of the race around the world. The Volvo Ocean Race held every three years witnesses the coming together of the best sailors across the world. The announcement was made after market hours yesterday, 20 March 2017.

HCL Technologies consolidated net profit rose 2.3% to Rs 2062.04 crore on 2.56% growth in net sales to Rs 11814.20 crore in Q3 December 2016 over Q2 September 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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Shares of IFL Enterprises get listed
Mar 21,2017

The equity shares of IFL Enterprises (Scrip Code: 540377) are listed and admitted to dealings on the Exchange in the list of M Group Securities.

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Jubilant Life Sciences provides update on subsidiary - Jubilant Pharma
Mar 21,2017

Jubilant Life Sciences announced that the Board of Jubilant Pharma (JPL), a material wholly owned subsidiary of the Company in Singapore, has approved to negotiate a potential acquisition of a specialty pharma business in the United States using only internal accruals, subject to due diligence, satisfactory agreements, etc. and its final approval. The proposed acquisition is a niche, profitable speciality pharma business with a strategic fit and is expected to provide competitive edge for JPLs existing business, if it materialises.

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Divis Laboratories issued Import Alert for Unit II at Visakhapatnam, Andhra Pradesh
Mar 21,2017

Divis Laboratories announced that USFDA has issued an Import Alert 66-40 on 20 March 2017 on the products manufactured at the companys Unit-II at Visakhapatnam, Andhra Pradesh.

The Agency has exempted the following products from the Import Alert: 1. Levetiracetam 2. Gabapentin 3. Lamotrigine 4. Capecitabine 5. Naproxen sodium 6. Raltegravir potassium 7. Atovaquone 8. Chloropurine 9. BOC core succinate 10. 2,4-wing active ester

Divis Laboratories, along with third party consultants, is currently working to address the concerns of the USFDA and is making all efforts to fully meet the compliance requirements.

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Glenmark Pharmaceuticals receives final approval for Clobetasol Propionate Ointment
Mar 21,2017

Glenmark Pharmaceuticals Inc., USA (Glenmark) has been grantedfinal approval by the United States Food & Drug Administration (USFDA) for Clobetasol Propionate Ointment USP, 0.05%, the generic version of Temovaten++ Ointment, 0.05% of Fougera Pharmaceuticals Inc.

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Bharatiya Mahila Bank (BMB) to be merged with State Bank of India (SBI) to ensure greater banking services
Mar 21,2017

The Government of India has decided to merge the Bharatiya Mahila Bank (BMB) with the State Bank of India (SBI) to ensure greater banking services outreach to a larger number of women, at a faster pace. The objectives of affordable credit to women as well as propagation of women-centric products need to be quickly achieved through a wider network and lower cost of funds.

The decision to merge BMB with SBI has been taken in view of the advantage of the large network of SBI among other things. In the three years since BMB was established, it has extended loans of Rs 192 crores to women borrowers, while the SBI group has provided loans of about Rs.46,000 crore to women borrowers. SBI has a large outreach of more than 20,000 branches and lowest cost of funds in the sector. Out of the total workforce of around 2 lakh employees in SBI, 22% are women. SBI group already has 126 exclusive all-women branches across the country while BMB has only seven. The proportion of administrative and managerial cost in BMB is much higher to reach the same coverage. For the same cost, a much higher volume of loans to women could be given through SBI.

The Union Government is committed to enhance the access to financial services to the population at large and women in particular. Under the Pradhan Mantri Jan-Dhan Yojana, preference is given to women for overdraft facility. Pradhan Mantri Mudra Yojana had 73% women borrowers in the previous financial year.

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Bharatiya Mahila Bank (BMB) to be merged with State Bank of India (SBI) to ensure greater banking services
Mar 21,2017

The Government of India has decided to merge the Bharatiya Mahila Bank (BMB) with the State Bank of India (SBI) to ensure greater banking services outreach to a larger number of women, at a faster pace. The objectives of affordable credit to women as well as propagation of women-centric products need to be quickly achieved through a wider network and lower cost of funds.

The decision to merge BMB with SBI has been taken in view of the advantage of the large network of SBI among other things. In the three years since BMB was established, it has extended loans of Rs 192 crores to women borrowers, while the SBI group has provided loans of about Rs.46,000 crore to women borrowers. SBI has a large outreach of more than 20,000 branches and lowest cost of funds in the sector. Out of the total workforce of around 2 lakh employees in SBI, 22% are women. SBI group already has 126 exclusive all-women branches across the country while BMB has only seven. The proportion of administrative and managerial cost in BMB is much higher to reach the same coverage. For the same cost, a much higher volume of loans to women could be given through SBI.

The Union Government is committed to enhance the access to financial services to the population at large and women in particular. Under the Pradhan Mantri Jan-Dhan Yojana, preference is given to women for overdraft facility. Pradhan Mantri Mudra Yojana had 73% women borrowers in the previous financial year.

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National Highways Declared in Uttar Pradesh
Mar 21,2017

The total length of National Highways (NHs) in the country is about 1,13,298 km. State roads are declared as new NHs from time to time on the basis of well established principles; the criteria for State roads for declaration as new NHs include roads running through length / breadth of the country, connecting adjacent countries, National Capitals with State Capitals / mutually the State Capitals, major ports, non-major ports, large industrial centers or tourist centers, roads meeting very important strategic requirement in hilly and isolated area, arterial roads which enable sizeable reduction in travel distance and achieve substantial economic growth thereby, roads which help opening up large tracts of backward area and hilly regions (other than strategically important ones), achieving a National Highways grid of 100 km, etc.

The receipt of No Objection Certificate (NOC) from the State Government, regarding transfer of assets and liabilities of new NHs declared in State of Uttar Pradesh during 2014, 2015 and 2016, is an essential prerequisite for entrusting these to the agencies such as State Public Works Department (PWD), National Highways Authority of India (NHAI), etc., for taking up maintenance and development works on such new NHs. The Ministry has received NOC from the State Government of Uttar Pradesh in respect of new NH No. 219, No. 227A, No. 334A, No. 334B and No. 731A only and these NHs have been entrusted to the State Government of Uttar Pradesh recently in December, 2016. The Ministry has allocated an amount of Rs. 19.05 crores during year 2016-17 under Ordinary Repair (OR) sub head under Maintenance & Repair head (M&R) to meet the contingency for keeping all the NHs including these newly entrusted NHs in traffic worthy condition. The further development of these newly entrusted NHs are taken up depending upon the availability of funds, inter se priority, traffic count and approved annual plan.

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National Highways Declared in Uttar Pradesh
Mar 21,2017

The total length of National Highways (NHs) in the country is about 1,13,298 km. State roads are declared as new NHs from time to time on the basis of well established principles; the criteria for State roads for declaration as new NHs include roads running through length / breadth of the country, connecting adjacent countries, National Capitals with State Capitals / mutually the State Capitals, major ports, non-major ports, large industrial centers or tourist centers, roads meeting very important strategic requirement in hilly and isolated area, arterial roads which enable sizeable reduction in travel distance and achieve substantial economic growth thereby, roads which help opening up large tracts of backward area and hilly regions (other than strategically important ones), achieving a National Highways grid of 100 km, etc.

The receipt of No Objection Certificate (NOC) from the State Government, regarding transfer of assets and liabilities of new NHs declared in State of Uttar Pradesh during 2014, 2015 and 2016, is an essential prerequisite for entrusting these to the agencies such as State Public Works Department (PWD), National Highways Authority of India (NHAI), etc., for taking up maintenance and development works on such new NHs. The Ministry has received NOC from the State Government of Uttar Pradesh in respect of new NH No. 219, No. 227A, No. 334A, No. 334B and No. 731A only and these NHs have been entrusted to the State Government of Uttar Pradesh recently in December, 2016. The Ministry has allocated an amount of Rs. 19.05 crores during year 2016-17 under Ordinary Repair (OR) sub head under Maintenance & Repair head (M&R) to meet the contingency for keeping all the NHs including these newly entrusted NHs in traffic worthy condition. The further development of these newly entrusted NHs are taken up depending upon the availability of funds, inter se priority, traffic count and approved annual plan.

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