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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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Yes Bank proposes sub-division of equity shares
Jul 03,2017

Yes Bank plans for sub-division of equity shares of the Bank of face value of Rs 10 each. The Board of the Bank will consider the proposal on 26 July 2017.

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Asia Pacific Market: Stocks starts month with mixed note
Jul 03,2017

Asia Pacific share market closed mixed on Monday, 03 July 2017, as investors digested key economic indicators out of China and the Bank of Japans quarterly tankan survey, with energy producers advanced on oils rally and technology shares tracked declines of their U.S. peers. The MSCI Asia Pacific Index slipped 0.2% to 154.29. The MSCI Asia Pacific Energy Index advanced 0.4%, while the regions technology gauge lost 0.4%

A highly influential manufacturing survey has showed that Chinas economy is picking up at a faster pace than analysts predicted. Caixin manufacturing PMI for the month of June came in at 50.4. The official manufacturing purchasing managers index, a key gauge of factory activity, released on last Friday came in at 51.7% in June, which was better than expected and was higher than Mays figure of 51.2 and marked the 11th consecutive month of expansion, according to data released by the National Bureau of Statistics on Friday. New orders accelerated for the domestic sector as well as for the export market. New orders in June, as shown in a sub index of the PMI, increased to 53.1 from Mays 52.3, while export orders jumped to 52, 1.3 percentage points higher than in May.

In a closely-watched Bank of Japan Tankan survey released on Monday, showing business confidence among Japans large manufacturers strengthened to its highest level in more than three years in the second quarter, as a pickup in the global economy and renewed strength in stocks brightened the outlook for corporate Japan. The main index measuring large manufacturers confidence rose to plus 17 in the April-June period from plus 12 previously. The improvement in business sentiment adds to recent encouraging data for Prime Minister Shinzo Abes administration, pointing to renewed strength in Japans economy after the longest expansion since 2006. Sentiment at large non-manufacturing firms also rose, for a second straight quarter, and is now at its highest since December, 2015. The tankan index for large non-manufacturers came to plus 23 in the June survey compared with plus 20 in the previous quarter. The outlook part of the survey found large manufacturers hopeful, rising to a score of 15 from the previous quarters 11. Large manufacturers expect the dollar will trade at an average 108.31 yen this financial year. The tankans indexes are derived by simply subtracting the number of respondents who say conditions are bad from those who say they are good, with any positive reading meaning that the optimists are winning.

Among Asian bourses

Australia Market falls on first day of new Australian fiscal year

Australian equity market finished session lower, marking a cautious start to the new Australian fiscal year, with weakness led by biotech giant CSL, the biggest drag on the benchmark, while Fairfax Media tumbled after two private equity firms withdrew rival takeover bids. Market losses were, however, capped after survey that showed that Australias manufacturing and service sectors both enjoyed strong activity in June with upbeat demand encouraging more hiring. The S&P/ASX 200 index fell 0.7%, or 36.99 points, to 5,684.5 at the close of trade.

The Healthcare sector was the biggest drag on the index, with biotech firm CSL falling 2% to a near one-month closing low on profit booking after biotech firm hits an all-time record high.

Real estate stocks also weighed on the benchmark with Scentre Group and Stockland Corp Ltd slipping more than 1% each. Among the other big losers was Fairfax Media, which slumped more than 10% to its lowest since March after it said two private equity firms withdrew from rival takeover bids worth up to A$2.9 billion.

Commonwealth Bank of Australia dropped by 0.5%, Westpac Banking shed 0.4% and Australia & New Zealand Banking and National Australia Bank each slipped 0.2%. The regional banks fared better, with Bendigo & Adelaide Bank picking up 0.5% and Bank of Queensland rising 0.8%.

At the other end, the energy sector eked out a minor gain as crude-oil prices built on recent gains in Asian trade supported by the first fall in US drilling activity in months, although rising output from Opec despite a pledge to cut supplies capped gains. Oil producer Santos was up 0.8% while Beach Energy jumped 3.5%. Diversified miners BHP Billiton and Rio Tinto diverged, with the former losing 0.2% but Rio gaining 0.5%. Gold producer Newcrest Mining fell 0.6% and Oz Minerals declined 1.5%.

Virgin Australia Holdings gained more than 6% after the carrier said it expects to report positive cash flow for the 2017 fiscal year.

Nikkei gains after upbeat Tankan sentiment data

The Japan share market finished session higher, buoyed by positive lead from Wall Street Friday, an upbeat Bank of Japans quarterly tankan business confidence survey and a stable dollar-yen exchange rate, but defeat for Japans ruling party in a Tokyo poll checked investor risk appetite and capped the upside. The benchmark Nikkei 225 average gained 22.37 points, or 0.11%, to close at 20,055.80. The Topix, including all first-section issues, finished up 2.51 points, or 0.16%, at 1,614.41. Rising issues outnumbered falling ones 1,117 to 767 in the TSEs first section, while 138 issues were unchanged. Volume fell to 1.601 billion shares, from Fridays 1.968 billion shares.

Exporters were mostly solid on Monday, as the dollar gained 0.2% to 112.58 yen. Toyota Motor Corp rose 1.0%, Subaru Corp climbed 1.7% and Panasonic Corp gained 0.7%. Auto parts maker Ashimori Industry surged on speculation that it may take over demand for Takata products.

Daiseki Co jumped 6.9% after industrial waste disposal business operator said its operating profit surged 25.2% to 2.3 billion for the March-May quarter.

China Stocks up as PMI strengthens

The Mainland China equity market eked out small gains, buoyed by positive economic data showing manufacturing expansion and demand, and optimism about companies interim results after strong guidance in sectors, including non-ferrous metals, electronics, property, light manufacturing and chemicals. But, concerns of economic slowdown in the second half and lingering fears of monetary tightening checked investor risk appetite and capped the upside. Financial and consumer stocks fell on profit-taking but commodity shares rose on the back of higher raw material prices triggered by recent dollar weakness. The Shanghai Composite Index edged up 0.11% to 3,195.91 points.

Infrastructure companies, coal and steel providers and non-ferrous metal shares were among the biggest gainers on the bourse. Maanshan Iron & Steel Co Ltd jumped 9.89% to 3.89 yuan (US$0.57), Shaanxi Coal Industry Co Ltd added 5.66% to 7.47 yuan and Huaxin Cement Co rose 3.99% to 9.91 yuan.

Hong Kong Market gains on start of China, Hong Kong Bond Connect scheme

The Hong Kong stock market ended higher, mirroring gains on the Wall Street Friday and on the back of a new bond trading link between Hong Kong and China. At the close, the Hang Seng index rose 0.1%, to 25,784.17 points, while the China Enterprises Index gained 0.5%, to 10,412.48 points. Turnover decreased to HK$75 billion from HK$81.3 billion on Friday.

Index heavyweight HSBC Plc - which on Monday conducted the first deal under the n++Bond Connectn++ - added 1.2% to HK$73.55, while BOC Hong Kong, another beneficiary of the scheme that allows foreign investors to buy China bonds, jumped 1.5% to HK$37.9. Hong Kong Exchanges and Clearing (00388) barely rose 0.5% to HK$202.8.

Hong Kongs small-caps and mid-caps rose after Beijing on Friday allowed insurers to buy the citys stocks under the Shenzhen-Hong Kong Stock Connect, potentially boosting demand for smaller companies. But the services index in Hong Kong was down 1.5%.

Country Garden (02007), China Vanke (02202) and China Evergrande (03333) were top three Chinese developers in terms of sales for the first half of 2017. Country Garden shot up 3.9% to HK$9.4. China Vanke soared 5.7% to HK$23.35. China Evergrande surged 9.2% to HK$15.3.

Geely Automobile (00175) was top blue-chip winner today. It rose 4% to HK$17.52 after some Chinese research houses investment upgrades.

Strong gains on Indian bourses as investors cheer GST rollout

Trading for the second quarter and July month started on a positive note as key benchmark indices settled with good gains as firmness in global stocks perked up sentiment. The barometer index, the S&P BSE Sensex rose 300.01 points or 0.97% to settle at 31,221.62. The Nifty 50 index advanced 94.10 points or 0.99% to settle at 9,615. The Sensex closed above the psychological 31,000 level. The sentiment was also boosted after the biggest tax reform, the Goods and Services Tax came into force from 1 July 2017. The gains were supported by a sharp jump in index heavyweight ITC. Bank and metal sector stocks advanced.

Index heavyweight and cigarette maker ITC jumped 5.7% at Rs 342.30 on reports that taxation for cigarettes under the goods and services tax regime is around 5-6% lower compared to the previous tax structure. Under the GST regime, cigarettes have been put in the highest tax slab of 28%. Basic excise duty and additional excise duty are repealed and only national calamity duty is continuing under the GST regime for cigarettes.

Mahindra & Mahindra (M&M) was up 1.21%. The companys total auto sales fell 8% to 35,716 units in June 2017 over June 2016. Total tractor sales rose 9% to 32,933 units in June 2017 over June 2016. The announcement was made on Saturday, 1 July 2017.

Maruti Suzuki India rose 1.96% after the companys total sales rose 7.6% to 1.06 lakh units in June 2017 over June 2016. Domestic sales grew by 1.2% to 93,263 units in June 2017 over June 2016. Export sales jumped 95.8% to 13,131 units in June 2017 over June 2016. The announcement was made on Saturday, 1 July 2017.

Meanwhile, Maruti Suzuki India on Saturday, 1 July 2017 announced that the company has passed on the entire benefit of GST rates on vehicles to its customers. The ex-showroom prices of Maruti Suzuki India models have come down by up to 3%. The rate of reduction varies across locations depending on the VAT rates applicable prior to GST, the company said.

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Coromandel International to hold board meeting
Jul 03,2017

Coromandel International will hold a meeting of the Board of Directors of the Company on 28 July 2017 Quarterly Results

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Manaksia Steels to hold board meeting
Jul 03,2017

Manaksia Steels will hold a meeting of the Board of Directors of the Company on 3 July 2017.

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Can Fin Homes to hold board meeting
Jul 03,2017

Can Fin Homes will hold a meeting of the Board of Directors of the Company on 21 July 2017 to consider inter-alia and approve the un-audited financial results of the Company for the I Quarter ended on June 30, 2017 (Financial Year 2017-18) together with the Limited Review Report for the above said period. Further, the trading window to deal in equity shares of the Company is closed from June 11, 2017 to July 23, 2017 (both days inclusive).

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Pidilite Industries to hold board meeting
Jul 03,2017

Pidilite Industries will hold a meeting of the Board of Directors of the Company on 25 July 2017 to consider and take on record the unaudited financial results for the first quarter ended on 30th June, 2017.

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Berger Paints India to hold board meeting
Jul 03,2017

Berger Paints India will hold a meeting of the Board of Directors of the Company on 4 August 2017 to consider and approve,inter-alia, the quarterly / year to date Unaudited Financial Results (with Limited Review) of the Company for the period ended on 30th June, 2017.

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Arvind to hold AGM
Jul 03,2017

Arvind announced that the th Annual General Meeting(AGM) of the company on 4 August 2017.

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Hong Kong Market gains on start of China, Hong Kong Bond Connect scheme
Jul 03,2017

The Hong Kong stock market ended higher on Monday, 03 July 2017, mirroring gains on the Wall Street Friday and on the back of a new bond trading link between Hong Kong and China. At the close, the Hang Seng index rose 0.1%, to 25,784.17 points, while the China Enterprises Index gained 0.5%, to 10,412.48 points. Turnover decreased to HK$75 billion from HK$81.3 billion on Friday.

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China Stocks up as PMI strengthens
Jul 03,2017

The Mainland China equity market eked out small gains on Monday, 03 July 2017, buoyed by positive economic data showing manufacturing expansion and demand, and optimism about companies interim results after strong guidance in sectors, including non-ferrous metals, electronics, property, light manufacturing and chemicals. But, concerns of economic slowdown in the second half and lingering fears of monetary tightening checked investor risk appetite and capped the upside. Financial and consumer stocks fell on profit-taking but commodity shares rose on the back of higher raw material prices triggered by recent dollar weakness. The Shanghai Composite Index edged up 0.11 percent to 3,195.91 points.

Sentiment was boosted by a rise in the Purchasing Managers Index to 50.4 in June from 49.6 in May, released by business and financial reporting company Caixin. The Caixin manufacturing PMI stood above 50, which indicated expansion in manufacturing in June. A reading below 50 reflects a contraction.

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Nikkei gains after upbeat Tankan business confidence data
Jul 03,2017

The Japan share market finished session higher on Monday, 03 July 2017, buoyed by positive lead from Wall Street Friday, an upbeat Bank of Japans quarterly tankan business confidence survey and a stable dollar-yen exchange rate, but defeat for Japans ruling party in a Tokyo poll checked investor risk appetite and capped the upside. The benchmark Nikkei 225 average gained 22.37 points, or 0.11%, to close at 20,055.80. The Topix, including all first-section issues, finished up 2.51 points, or 0.16%, at 1,614.41. Rising issues outnumbered falling ones 1,117 to 767 in the TSEs first section, while 138 issues were unchanged. Volume fell to 1.601 billion shares, from Fridays 1.968 billion shares.P>In a closely-watched Bank of Japan Tankan survey released on Monday, showing business confidence among Japans large manufacturers strengthened to its highest level in more than three years in the second quarter, as a pickup in the global economy and renewed strength in stocks brightened the outlook for corporate Japan. The main index measuring large manufacturers confidence rose to plus 17 in the April-June period from plus 12 previously.

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Australia Market falls on first day of new Australian fiscal year
Jul 03,2017

Australian equity market finished session lower on Monday, 03 July 2017, marking a cautious start to the new Australian fiscal year, with weakness led by biotech giant CSL, the biggest drag on the benchmark, while Fairfax Media tumbled after two private equity firms withdrew rival takeover bids. Market losses were, however, capped after survey that showed that Australias manufacturing and service sectors both enjoyed strong activity in June with upbeat demand encouraging more hiring. The S&P/ASX 200 index fell 0.7%, or 36.99 points, to 5,684.5 at the close of trade.

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FPIs turn buyers
Jul 03,2017

Foreign portfolio investors (FPIs) bought stocks worth a net Rs 111.13 crore into the secondary equity markets on 30 June 2017, compared with net outflow of Rs 824.54 crore on 29 June 2017. On that day, the Sensex rose 64.09 points or 0.21% to settle at 30,921.61, its highest closing level since 27 June 2017.

The net inflow of Rs 111.13 crore on 30 June 2017 was a result of gross purchases of Rs 4490.02 crore and gross sales of Rs 4378.89 crore.

There was a net inflow of Rs 1343.53 crore into the category primary market & others on 30 June 2017, which was a result of gross purchases of Rs 1343.53 crore and zero gross sales.

FPIs had purchased stocks worth a net Rs 906.13 crore from the secondary equity markets in June 2017.

FPIs have purchased shares worth a net Rs 38666.65 crore from the secondary equity markets in calendar year 2017 so far (till 30 June 2017). They had purchased shares worth a net Rs 12094.42 crore from the secondary equity markets in calendar year 2016.

FPIs had bought stocks worth a net Rs 2710.69 crore from the category primary market & others in June 2017.

FPIs have purchased shares worth a net Rs 16142.31 crore from the category primary markets & others in calendar year 2017 so far (till 30 June 2017). The net inflow from FPIs into the category primary markets & others had totaled Rs 8471.76 crore in calendar year 2016.

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Tata Motors records passenger and commercial vehicles total sales at 40358 units
Jul 03,2017

Tata Motors announced that mixed consumer sentiments in June 2017 towards the implications of GST have impacted the passenger vehicles business sales, while the commercial vehicles business grew on month-on month basis, due to BS4 production ramp-up.

Tata Motors passenger and commercial vehicles total sales (including exports) in June 2017 were at 40,358 vehicles, lower by 9% over 44,525 vehicles sold in June 2016. The companys domestic sales of Tata commercial and passenger vehicles for June 2017 were at 36,854 vehicles, lower by 5% over 38,718 vehicles sold in June 2016.

Tata Motors Commercial Vehicles domestic business reported sales of 25,678 nos., lower by 2% over June 2016 but continues to grow month-on-month on the back of ramp up of BS4 production, across segments.

In June 2017, Tata Motors passenger vehicles sales were impacted by the mixed reactions towards GST resulting in low buying sentiments. The passenger vehicle business recorded sales of 11,176 nos., lower by 10%, over 12,482 nos. in June 2016. This drop in volume is seen temporary and will be recovered in the quarter to come based on 11% growth in April-June 2017 quarter compared to the last year.

The companys sales from exports were at 3,504 nos. in June 2017, a decline of 40% compared to 5,807 vehicles sold in June 2016 owing to supply constraints.

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Rentals easing in IT hubs on subdued sentiment-ASSOCHAM
Jul 03,2017

With IT sector witnessing subdued sentiment amidst pressure on hiring and annual pay rise for employees, the countrys software and services hubs such as Bengaluru, Hyderabad, Chennai, Pune and Noida-Gurgaon in NCR are expected to see 10-20 per cent reduction in the housing rents over the next three quarters, according to an ASSOCHAM paper.

Unlike in the past when the fresh inflows of young professionals were pushing the demand for rentals in Bengaluru, the house owners in Indias Silicon Valley seem to have done a reality check and are accordingly slashing the rentals, while offering better amenities.

Even in the existing rental deeds, the tenants are seeking better options and no hike in the monthly outgo, quoting the adverse industry outlook. With better options, the market is tilting in favour of the tenants, especially those paying above Rs 50,000 per month.

Going forward, the rentals may ease at least by 10-15 per cent in Bengaluru, Chennai and Hyderabad, while the decline may be steeper, up to 20 per cent in Pune, in the next three quarters. Gurgaon and Noida are also witnessing a correction in rentals up to 10-15 per cent. n++Gurgaon is holding up because of the demand push from the national capital region (NCR).n++

According to the ASSOCHAM latest estimates reveals that while the IT sector continues to employ over four million people, mostly in the four to five big cities, the hiring growth has subdued. Earlier, the biggest of the IT firms would add tens of thousands of new employees every year along with liberal sops for the existing staff. That scenario has totally changed. Even if these companies may be adding on net basis, the new jobs are not being added in an enthusiastic way, adds the paper.

n++The IT and other services like financials are among the sectors which pay well. Besides, the age profile of these employees is quite tempting for the marketers. They are good spenders and want good life. These factors kept the markets for rentals pushing up, especially in gated and well-equipped housing complexes and societies in Bengaluru, Gurgaon, and Hyderabad. There is certainly a pause visiblen++, ASSOCHAM Secretary General Mr D S Rawat said while releasing its paper.

IT and ITeS professionals aged 30 to 45 years and above, earn between Rs 20 to 50 lakh per annum on an average and typically pay even up to Rs 50,000-1.50 lakh per month as rent, in case they do not own their flats for self use. There is another a range paying between Rs 15,000-Rs 35,000 and upward. All these segments are witnessing easing of the rentals.

In any case, the markets for real estate has gone down in major micro markets owing to a combination of factors. With a large inventory of even ready flats which would be available for use in the next few months, the supply for the rental markets would further improve.

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