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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 Oriental Veneer Products appoints Executive Director
Aug 18,2017

The Board of Oriental Veneer Products at its meeting held on 18 August 2017 has approved appointment of Vali Najmuddin Mithiborwala, brother of Saleh Najmuddin Mithiborwala as a Executive Director of the Company for a period of five years with effect from 18 August 2017.

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Allahabad Bank announces change in nominee director
Aug 18,2017

Allahabad Bank announced the appointment of Rajeev Rajan as Government Nominee Director with effect from 17 August 2017 in place of Anshuman Sharma.

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Sanwaria Agro Oils fixes record date for final dividend
Aug 18,2017

Sanwaria Agro Oils announced that if final dividend as recommended by the Board of Directors is approved at the ensuing Annual General Meeting, then the dividend shall be paid to the shareholders holding shares as of the close of business hours on Tuesday, 26 September 2017.

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Shiva Texyarn gets extension to hold AGM
Aug 18,2017

Shiva Texyarn has received extension to hold AGM by three months i.e., upto December 2017, in order to give effect to the Scheme of Arrangement (Demerger) entered between Shiva Texyarn and STYL Textile Ventures.

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ICICI Banks Bahrain branch gets affirmation of unsecured debt ratings
Aug 18,2017

Moodys Investors Service has affirmed the Baa3 foreign currency seniorunsecured debt ratings of ICICI Banks Bahrain branch.

At the same time, Moodys has downgraded the provisional ratings on the foreign currency senior unsecured MTN program for the banks Bahrain branch to (P)Ba2 from (P)Baa3, because the foreign currency bond ceiling for Bahrain is now at Ba2. The branchs counterparty risk assessment (CRA) has also been downgraded to Ba1(cr)/Not Prime(cr) from Baa3(cr)/P-3(cr), because Moodys downgraded the local currencycountry risk ceiling for Bahrain to Ba1.

All other ratings under the MTN program remain unchanged.

The outlook on all ratings, where applicable, is stable.

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B & A fixes record date for final dividend
Aug 18,2017

B & A has fixed 08 September 2017 as record date for final dividend for FY 2017.

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Edelweiss Financial Services allots 12,14,863 equity shares
Aug 18,2017

Edelweiss Financial Services has allotted 12,14,863 Equity Shares of the face value of Re. 1/- each under Edelweiss Employee Stock Option Scheme(s) of the Company on 18 August 2017.

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Worldwide Leather Exports appoints director
Aug 18,2017

The Board of Worldwide Leather Exports has appointed Amit Lohia as an Independent Director with effect from 18 August 2017.

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Board of Manaksia Industries approves setting up of three new subsidiaries
Aug 18,2017

The Board of Manaksia Industries at its meeting held on 16 August 2017 approved the following -

Setting up new subsidiaries in Bangladesh and Sri Lanka with investment of USD 200000 each for manufacturing of packaging products of different sizes for supply to pharmaceuticals, liquor and other industries.

Setting up new subsidiary in Georgia for medical business, metals, edible items by investment of USD 200000.

AGM to be held on 18 September 2017.

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ATP and Infosys launch new PlayerZone app and website
Aug 18,2017

ATP, the governing body of mens professional tennis, in association with Infosys, a global leader in consulting, technology and next-generation services, announced the launch of a new PlayerZone app and website.

The revamped PlayerZone, an extranet portal for ATP players, their support teams, coaches, and others in the ecosystem, allows users to engage with each other and access information across a wide range of operational aspects related to life on Tour.

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Raymond consolidates its FMCG business
Aug 18,2017

Raymond announced the acquisition of Ansells stake in a joint venture entity known as JK Ansell. With this transaction, the sexual wellness and personal care business will continue to remain in JK Ansell which will become a wholly owned subsidairy of J K Investo Trade (India), a Raymond Group Company. As per the proposed deal, JKIT sells its stake in the glove business to Pacific Dunlop Holdings (Singapore) (Ansell Group Company).

This acquisition will pave the way for Raymond to further scale up the FMGC business and unlock the immense potential of Brand KamaSutra globally.

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3i Infotech allots 6,148 equity shares
Aug 18,2017

3i Infotech has allotted 6,148 equity shares on 17 August 2017 against conversion of the amended 2.5 % Foreign Currency Convertible Bonds due 2025 (formerly 4.75% Bonds due 2017 and Zero Coupon Convertible Bonds due 2012) (ISIN XS0308551166, LRN 2007687) of principal amount of USD 100,000 (carrying an outstanding value of USD 25,000).

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Sasken Technologies partners with PTC
Aug 18,2017

Sasken Technologies announced that it has partnered with PTC, a globa provider of technology platforms and solutions that transform how companies create, operate and service products. The collaboration will enable both companies to closely collaborate in solving business challenges for their customers in the IoT space.

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Jyoti Structures intimates of initiation of corporate insolvency resolution process
Aug 18,2017

Jyoti Structures announced that the Company has been going through financial difficulty.

One of the Lenders i.e. State Bank of India had filed application for initiation of corporate insolvency resolution process (n++CIRPn++) of the Company as per the provisions of the Insolvency and Bankruptcy Code (n++IBCn++) before the Honble National Company Law Tribunal, Mumbai bench (n++NCLTn++) which was admitted by the NCLT vide its order dated 04 July 017 (n++CIRP Ordern++). Pursuant to the CIRP Order, the management of the affairs of the Company has been vested in Vandana Garg, the interim resolution professional of the Company (n++IRPn++) appointed by the NCLT with effect from 12 July 2017 (i.e. the date on which the NCLT Order was uploaded on NCLT website or the date of appointment of IRP).

Further, in terms of Section 17(1)(b) of the IBC, the Board of Directors of the Company have been suspended w.e.f. 12 July 2017 and functions of the Board of Directors is being exercised by the IRP as per the provisions of the IBC.

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Alembic Pharmaceuticals intimates of disruption in plant at Constantine, Algeria
Aug 18,2017

Alembic Pharmaceuticals announced that there was a fire incident at its Algerian Joint Venture plant at Constantine, Algeria Constantine, Algeria. It has had been brought under control. No casualties or injury to any persons is reported. The cause of accident and the extent of damage is being investigated and assessed. The Company expects a disruption in operations till the plant is put back on stream.

Alembic Mami SPA is a joint venture in which 49% equity stake is held by Alembic Global Holding SA (AGH), 100% subsidiary of Alembic Pharmaceuticals.

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