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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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Indian Railways takes Measures to Promote Digital Payments
Jan 02,2017

In pursuance of this announcement made by Government of India for promotion of Digital & Cashless Economy, Ministry of Railways has initiated some additional following package of incentives and measures. This shall be made effective from 1st January 2017.

1. Ministry of Railways has decided to instruct Yatri Ticket Suvidha Kendras (YTSKs) to install POS machines and accept payments through all banks debit/credit cards for issuing both reserved and unreserved tickets. They are encouraged to accept payments through other modes also like UPI, USSD, e-wallet, Aadhar enabled payments system.

2. Ministry of Railways has decided to instruct Jan Sadharan Ticket Booking Seva (JTBs) are also instructed to accept payments through other modes like UPI, USSD, e-wallets, Aadhar enabled payments system to issue unreserved tickets.

3. Ministry Of Railways have decided to allow 5% Discount for booking of Retiring Room through digital means like using debit/credit cards.

4. Ministry of Railways have decided that 0.5% discount in the base fare of season tickets (Monthly, quarterly, Half yearly, yearly) over suburban section shall be granted in case the payment is made through digital means through debit card, credit card etc.. Other charges like MUTP surcharge, Mela surcharge, service tax etc., if applicable shall be levied separately on the base fare arrived at after giving the 0.5% concession.

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Eicher Motors announces sales figures of subsidiary - VE Commercial Vehicles
Jan 02,2017

Eicher Motors announced the sales figures for its unlisted subsidiary, VE Commercial Vehicles for the month of December 2016.

Total sales of trucks stood at 4048 units for the month of December 2016 compared to 5063 units in December 2015.

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Eicher Motors announces motorcycle sales
Jan 02,2017

Eicher Motors achieved total motorcycle sales of 57398 units in month of December 2016 compared to 40453 units in December 2015, recording a growth of 42%.

Total sales include exports of 1082 units in December 2016, recording a growth of 160% over the corresponding month of previous year.

For the period April - December 2016, total sales increased 36% to 488,262 units compared to corresponding period of previous year.

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Eicher moves north after strong motorcyle sales
Jan 02,2017

The company announced the monthly sales volume yesterday, 1 January 2017.

Meanwhile, the S&P BSE Sensex was down 89.19 points or 0.33% at 26,537.27.

On the BSE, 2,221 shares were traded on the counter so far as against the average daily volumes of 5,241 shares in the past one quarter. The stock had hit a high of Rs 22,851 and a low of Rs 22,222 so far during the day.

The stock had hit a record high of Rs 26,601.95 on 29 September 2016 and a 52-week low of Rs 14,817.75 on 19 January 2016. It had outperformed the market over the past one month till 30 December 2016, advancing 0.63% compared with the Sensexs 0.1% fall. The scrip had, however, underperformed the market over the past one quarter declining 12.46% as against the Sensexs 4.45% fall.

The large-cap company has equity capital of Rs 27.20 crore. Face value per share is Rs 10.

Eicher Motors exports of motorcycles jumped 160% to 1,082 units in December 2016 over December 2015.

Separately, Eicher Motors announced yesterday, 1 January 2017 that sale volume of VE Commercial Vehicles, an unlisted subsidiary of Eicher Motors fell 20.04% to 4,048 units in December 2016 over December 2015.

On a consolidated basis, net profit of Eicher Motors rose 45.19% to Rs 413.16 crore on 35.14% rise in net sales to Rs 1748.44 crore in Q2 September 2016 over Q2 September 2015.

Eicher Motors (EML) is the flagship company of the Eicher Group. EML is one of the leading players in the Indian automotive space. EML owns the iconic Royal Enfield motorcycle business which leads the premium motorcycle segment in India. EMLs joint venture with the Volvo group, VE Commercial Vehicles, designs, manufactures and markets reliable, fuel-efficient trucks and buses.

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Bank of Baroda appoints Executive Director
Jan 02,2017

Bank of Baroda announced the appointment of Papia Sengupta as Executive Director on the Board of the Bank with effect from 01 January 2017.

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Bank of Baroda announces cessation of director
Jan 02,2017

Bank of Baroda announced the cessation of Bhuwanchandra Joshi as Executive Director of the Bank with effect from 01 January 2017 due to his superannuation on 31 December 2016.

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Bajaj Auto skids after reporting weak sales in December
Jan 02,2017

The company announced the monthly sales volume data for December during market hours today, 2 January 2017.

Meanwhile, the S&P BSE Sensex was down 94.75 points or 0.36% at 26,531.71.

On the BSE, 6,587 shares were traded in the counter so far as against average daily volume of 21,836 shares in the past one quarter. The stock had hit a high of Rs 2,658.30 and a low of Rs 2,581 so far during the day. The stock had hit a record high of Rs 3,122 on 9 September 2016. The stock had hit a 52-week low of Rs 2,173.40 on 29 February 2016.

The stock had underperformed the market over the past one month till 30 December 2016, sliding 1.86% compared with 0.1% drop in the Sensex. The scrip had, also underperformed the market in past one quarter, declining 7% as against Sensexs 4.45% fall.

The large-cap company has equity capital of Rs 289.37 crore. Face value per share is Rs 10.

Bajaj Auto announced that total sales fell 22% to 2.25 lakh units in December 2016 over December 2015. Domestic sales dropped 17% to 1.19 lakh units in December 2016 over December 2015. Exports fell 27% to 1.05 lakh units in December 2016 over December 2015.

On a consolidated basis, Bajaj Autos net profit rose 7.2% to Rs 1200.72 crore on 0.2% decline in net sales to Rs 5949.32 crore in Q2 September 2016 over Q2 September 2015.

Bajaj Auto is one of the leading two-and three-wheeler manufacturers in India.

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Bajaj Auto announces sales figures
Jan 02,2017

Bajaj Auto recorded total sales of 225,529 units in month of December 2016 compared to 289,003 units in December 2015, registering a decline of 22%. Total sales include domestic sales of 119,725 units and exports of 105,804 units, both declining 17% and 27% respectively compared to corresponding month of previous year.

For the period April-December 2016, total sales stood at 2,878,323 units, a decline of 5% compared to corresponding period of previous year.

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Maruti drops in early trade after weak monthly sales
Jan 02,2017

The company announced the monthly sales volume yesterday, 1 January 2017.

Meanwhile, the S&P BSE Sensex was down 98.83 points or 0.37% at 26,527.63.

On the BSE, 8,262 shares were traded on the counter so far as against the average daily volumes of 60,366 shares in the past one quarter. The stock had hit a high of Rs 5,348.90 and a low of Rs 5,270 so far during the day.

The stock had hit a record high of Rs 5,972 on 1 November 2016 and a 52-week low of Rs 3,202.10 on 29 February 2016. It had outperformed the market over the past one month till 30 December 2016, advancing 1.13% compared with the Sensexs 0.1% fall. The scrip had also outperformed the market over the past one quarter declining 2.85% as against the Sensexs 4.45% fall.

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

Maruti Suzuki Indias (Maruti) total domestic sales fell 4.4% to 1.06 lakh units in December 2016 over December 2015. Exports surged 47.1% to 11,494 units in December 2016 over December 2015.

Maruti Suzuki Indias net profit rose 60.2% to Rs 2398 crore on 29.5% growth in net sales to Rs 17594.60 crore in Q2 September 2016 over Q2 September 2015.

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 (as per the shareholding pattern as on 30 September 2016).

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Indian Railways Extends the facility of 10% rebate in Basic Fare on Vacant Berth/Seats after Preparation of First Chart In All Kinds of Trains
Jan 02,2017

In continuation with its earlier announcement of providing 10% rebate in the basic fare on the vacant berths/seats after preparation of first chart in Rajdhani/Duronto/Shatabdi trains, Indian Railways has decided to extend this rebate in the reserved class of all other trains w.e.f. 01 January 2017 on an experimental basis for six months.

The detailed provisions are as under

1.1. 10% rebate shall be applicable on the base fare of last ticket sold for a particular class and train just before preparation of first chart.

1.2. Reservation fee and superfast charge as applicable shall be levied in full & service tax etc. as applicable shall be levied.

1.3. 10% discount shall also be applicable for allotment of vacant berths (due to non-turned up passengers) in the train by TTEs.

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Shilpi Cable lights up after acquiring UAE based lighting products mfg firm
Jan 02,2017

The announcement was made after market hours on Friday, 30 December 2016.

Meanwhile, the BSE Sensex was down 55.61 points, or 0.21%, to 26,570.85.

On the BSE, 851 shares were traded in the counter so far, compared with an average volume of 70,908 shares in the past one quarter. The stock had hit a high of Rs 201.65 and a low of Rs 199.90 in intraday trade.

Shilpi Cable Technologies announced that its board of directors at a meeting held on Friday, 30 December 2016, approved acquisition of 100% shareholding of Gulf Aglow LED Lighting FZCO (GAL), a UAE based company incorporated within the laws of UAE. GAL is engaged in the manufacturing of lighting products. The company is selling lighting products including CFL and LED products through retails network in Middle East and African countries.

The Gulf Aglow LED Lighting FZCO had acquired lighting business from Gulf advanced lighting LLC, which was in business since last 20 years. The acquisition will be in the nature of cash consideration.

The indicative time period for the completion of the acquisition is 3 months. This acquisition is intended to expand market share of Shilpi Cable in lighting products, wires & cables in Middle East & African countries. The transaction is subject to applicable FEMA and RBI regulations.

On a consolidated basis, net profit of Shilpi Cable Technologies rose 100.7% to Rs 53.70 crore on 45.6% rise in net sales to Rs 1197.33 crore in Q2 September 2016 over Q2 September 2015.

Shilpi Cable Technologies is a specialist across the varieties of cables widely used in telecom, automotive and energy segment.

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Precious metals end 2016 on dull note
Jan 02,2017

Bullion prices ended lower at Comex on Friday, 30 December 2016. Gold futures moved in and out of positive territory on Friday, risking a fifth straight session gain, but still on track to snap what had been the longest weekly losing streak in more than 12 years.

Gold futures for February delivery fell $1.00, or 0.1%, to $1,157.10 an ounce, but had earlier traded up to $1,164.

Gold futures fell on Friday but snapped what had been the longest weekly losing streak in more than 12 years with a 1.5% weekly gain. Gold logged a 9% gain for all of 2016, owed to its early-year move. Gold is off more than 15% from its 2016 best, which was the settle high of $1,364.90 hit 6 July 2016.

March silver was down 15 cents, or 0.9%, at $16.08 an ounce after trading at its highest in about two weeks. For the month, silver fell a roughly 2%. Silver gained 17% for the year.

Precious metals moved in choppy fashion in this final trading day of 2016 as the dollar index pulled back from the 14-year highs it hit late this month. Thanks to strong early-year performances, both gold and silver logged sizable gains for the year, their best annual showing since 2012.

The ICE Dollar which typically moves inversely to gold, was down 0.5% at 102.13. This dollar gauge, which measures the strength of the buck against a basket of six currencies, traded in recent sessions at its highest level since December 2002.

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Maruti Suzuki India announces sales figures
Jan 02,2017

Maruti Suzuki India registered total sales of 117,908 units in December 2016 compared to 119,149 units in December 2015, recording a decline of 1%.

The company clocked domestic sales of 106,414 units in December 2016 compared to 111,333 units in December 2015, recording a decline of 4.4%.

Exports for the month of December 2016 grew 47.1% to 11,494 units compared to 7816 units in December 2015.

For the period April-December 2016, total sales grew 8% to 1,154,164 units compared to the corresponding period of previous year.

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Lakshmi Vilas Bank provides update on QIP issue
Jan 02,2017

Lakshmi Vilas Bank announced that in respect of the QIP, the Committee of Directors for Capital Raising of the Bank (the Committee) at its meeting held on 31 December 2016, has inter alia, passed the following resolutions:

a. Approved the closure of the QIP on 31 December 2016;

b. Approved the issue price of Rs. 140.00 per Equity Share (including premium of Rs. 130.00 per Equity Share), which is at a discount of Rs. 1.15 per Equity Share, to the Floor Price of Rs. 141.15 per Equity Share, for the issuance and allocation of 1,19,85,138 Equity Shares to be allotted to eligible qualified institutional buyers pursuant to the QIP aggregating upto Rs. 167.8 crore; and

c. Approved and adopted the placement document dated 31 December 2016, in connection with the QIP.

d. Approved the issue of Confirmation of Allocation Notes (CANs) to the qualified institutional buyers.

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Bombay Dyeing & Manufacturing Company enters into agreement to sell land & building and flat
Jan 02,2017

Bombay Dyeing & Manufacturing Company announced that pursuant to the approval of the Committee of the Board the Company has entered into an Agreement for sale of;

1. MIDC Land & Building and some specific utility machineries of Ranjangaon unit situated at Ranjangaon, District - Pune, Maharashtra, at an aggregate value of Rs. 174.45 crore 31 December 2016.

2. A Company owned Flat at Beach Towers, Prabhadevi, Mumbai at a value of Rs.9.4 crore on 31 December 2016.

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