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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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Likhami Consulting Ltd. to hold board meeting
May 17,2017

Likhami Consulting Ltd. will hold a meeting of the Board of Directors of the Company on 26 May 2017, to consider and approve Audited Financial Result for the 4th Quarter and year ended 31st March, 2017, and to discuss any other matter with the permission of the Chairman.

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Asahi Industries Ltd. to hold board meeting
May 17,2017

Asahi Industries Ltd. will hold a meeting of the Board of Directors of the Company on 26 May 2017, to consider and approve the Standalone and Consolidated Audited Annual Financial Statements and Audited Financial Results of the Company for the Quarter and financial year ended 31st March 2017, and any other business with the permission of the chair which is incidental and ancillary to the business.

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KSL & Industries Ltd. to hold board meeting
May 17,2017

KSL & Industries Ltd. will hold a meeting of the Board of Directors of the Company on 26 May 2017, to consider and approve the Standalone and Consolidated Audited Annual Financial Statements and Audited Financial Results of the Company for the Quarter and financial year ended 31st March 2017, and any other business with the permission of the chair which is incidental and ancillary to the business.

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K-Lifestyle & Industries Ltd. to hold board meeting
May 17,2017

K-Lifestyle & Industries Ltd. will hold a meeting of the Board of Directors of the Company on 26 May 2017, to consider and approve the Audited Financial Results for the financial year ended on March 31, 2017, and any other business with the permission of the chair which is incidental and ancillary to the business.

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Disappointing April MHCV Sales Reflective of Possible MHCV Industry Downturn
May 17,2017

The Medium and Heavy Commercial Vehicle (MHCV) segment posted a 55% yoy and 73% mom decline in domestic sales volumes in April 2017, which is disconcerting and reflective of the possible MHCV industry downturn, says India Ratings and Research (Ind-Ra). MHCV sales volumes traditionally have displayed a sharp month on month decline in the month of April, due to highest annual sales usually registered in the month of March. The year on year percent volume change however for April has not displayed such high volatility. In fact the last two years witnessed high year on year volume growth in April, following the decline for the previous three years. Ind-Ra believes that the sharp decline in April 2017 volumes is therefore the first signs of a possible downturn for the MHCV industry.

BS3 Fire Sale Supported March Volumes: The month on month volume decline in April 2017 was expected due to incremental sales volumes in the previous month, fuelled by the fire sale resorted to by original equipment manufacturers (OEM) to offload their unsold inventory of Bharat Stage 3 emission norms (BS3) heavy vehicles. With the Supreme Court notification towards the end-March 2017 banning the sale of BS3 automobiles effective from the following month, the OEMs offered large discounts to cut down inventory of BS3 MHCVs.

Wait and Watch Approach by Potential Buyers: Considering that there is no restriction on the use of BS3 trucks and buses in the country, Ind-Ra believes that buyers could delay their purchases of new BS4 compliant vehicles, especially due to the significantly higher costs associated with the latter. The average increase in MHCV vehicle cost will be in the range of 10%-15% according to the agency. In addition, the operating costs are also higher due to the use of diesel exhaust fluid to control emissions. The key demand driver for MHCV sales - indicated by the level of industrial activity - remains weak and thus Ind-Ra estimates sales volumes to decline in FY18 despite favourable interest rates. Buyers seem to be adopting a wait and watch approach for two reasons - to gauge the performance of the new BS4 vehicles and assess whether any improvement can be expected on the industrial performance front.

Decline Averted in FY17: Ind-Ra had highlighted in the report India Ratings Maintains Stable Outlook for Auto for FY18 that weak demand from the industry segment together with impact of demonetisation could have translated into MHCV volume decline in FY17, however sales volumes were propped up by pre-emptive buying of BS3 vehicles in the last quarter and last minute buying at the year end to avail of discounts during the BS3 fire sale. In addition, the agency believes that the 31 December 2015 notification from the National Highways Authority of India (IND AAA/Stable) to toll plazas to levy a toll of 10x on the usual toll on overloaded trucks has also supported MHCV volumes in FY17 to some extent. Domestic MHCV volumes in FY17 were flat at 302,529 compared with 302,397 in the previous year.

Passenger Carrier Segment Decline Not a Concern: April 2017 bus sales volumes also declined sharply year on year, however this was on a much smaller base compared with goods carriers. Ind-Ra believes that the sale of buses during FY18 will bounce back given that the key growth drivers continue to be favourable. The governments focus on improving urban as well as long-distance/interstate mass transportation systems in the country through the public private partnership model is expected to be one of the drivers in FY18. Over the mid to long term, rapid urbanisation along with augmentation of the road network in the country is expected to lead to a steady demand for buses. The limitation of Indian Railways to cater to a large increase in passenger traffic is an important growth driver. The low penetration of buses in India (approximately 1.5 per 1000 population, compared with approximately 7 for China, 9 for Russia and close to 20 for South Korea) also points towards a steady growth potential for the segment.

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Board of Patidar Buildcon approves change in directorate
May 17,2017

Patidar Buildcon announced that the Board of Directors of the Company at its meeting held on 17 May 2017 has approved the following change in directorate -

Appointed Gopiben Patel as an Additonal Director with effect from 17 May 2017.

Resignation of Bhavanaben Patel from the post of directorship of the Company due to her preoccupation with effect from 17 May 2017.

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Jaybharat Textiles & Real Estate Ltd. to hold board meeting
May 17,2017

Jaybharat Textiles & Real Estate Ltd. will hold a meeting of the Board of Directors of the Company on 26 May 2017, to consider and approve the Standalone and Consolidated Audited Annual Financial Statements and Audited Financial Results of the Company for the Quarter and financial year ended 31st March, 2017 and any other matters.

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Taparia Tools to hold board meeting
May 17,2017

Taparia Tools will hold a meeting of the Board of Directors of the Company on 26 May 2017, to consider and approve the Audited Financial Results for the financial year ended on March 31, 2017, and other matters.

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Intellect Design Arena ranks #2 in Digital Banking & Channels
May 17,2017

Intellect Design Arena is ranked #2 in the Digital Banking & Channels in the world by IBS Intelligence in their IBS Annual Sales League Table 2017 among 17 fintech suppliers across the globe. IBS SLT is the acknowledged barometer for international banking systems sales activity for the last 16 years.

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Crown Tours Ltd. to hold board meeting
May 17,2017

Crown Tours Ltd. will hold a meeting of the Board of Directors of the Company on 27 May 2017, to inter- alia, consider and approve the Audited Financial Results of the Company for the quarter / year ended March 31, 2017.

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Bliss GVS Pharma advances after reporting strong Q4 numbers
May 17,2017

The result was announced after market hours yesterday, 16 May 2017.

Meanwhile, the S&P BSE Sensex was up 83.99 points, or 0.27% at 30,666.59. The S&P BSE Small-cap index was down 0.87 points, 0.01% at 15,708.72.

High volumes were witnessed on the counter. On the BSE, 3.57 lakh shares were traded on the counter so far as against the average daily volumes of 79,604 shares in the past one quarter. The stock had hit a high of Rs 185.50 and a low of Rs 180.80 so far during the day.

The stock had hit a 52-week high of Rs 187.75 on 28 March 2017 and a 52-week low of Rs 79 on 17 June 2016. The stock had underperformed the market over the past one month till 16 May 2017, advancing 3.1% compared with the Sensexs 3.81% rise. The scrip had, however, outperformed the market over the past one quarter advancing 18.37% as against the Sensexs 8.06% rise.

The small-cap company has equity capital of Rs 10.31 crore. Face value per share is Rs 1.

Bliss GVS Pharma is engaged in developing, manufacturing and marketing pharmaceutical formulations.

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Volumes jump at Capital First counter
May 17,2017

Capital First clocked volume of 3.43 crore shares by 13:45 IST on BSE, a 629.93-times surge over two-week average daily volume of 55,000 shares. The stock fell 3.94% to Rs 732.90.

Tata Motors - DVR notched up volume of 63.31 lakh shares, a 63.34-fold surge over two-week average daily volume of 1 lakh shares. The stock rose 0.75% to Rs 269.

IIFL Holdings saw volume of 10.16 lakh shares, a 22.63-fold surge over two-week average daily volume of 45,000 shares. The stock fell 1.51% to Rs 481.95.

Sanofi India clocked volume of 27,000 shares, a 15.65-fold surge over two-week average daily volume of 2,000 shares. The stock fell 1.05% to Rs 4,178.90.

Shree Cement saw volume of 7,000 shares, a 11.05-fold rise over two-week average daily volume of 1,000 shares. The stock fell 5.74% to Rs 18,800.

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Hindustan Composites fixes record date for stock split and bonus issue
May 17,2017

Hindustan Composites announced that the Record Date has been fixed as 26 May 2017 for the purpose of ascertaining the eligibility of shareholders for:

1. Sub-division of existing 1 (One) equity share having face value of Rs. 10/- (Rupees Ten only) each fully paid-up into 2 (Two) equity shares having face value of Rs. 5/- (Rupees Five only) each; and

2. Issue of bonus shares in proportion of 1:2 (i.e. 1 new bonus equity share of Rs. 5/- (Rupees Five only) each for every 2 (Two) equity shares of Rs. 5/- (Rupees Five only) each held) (Post split face value per equity share).

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Shree Cement leads losers in BSEs A group
May 17,2017

Shree Cement declined 5.84% at Rs 18,780 at 13:38 IST after net profit fell 54.1% to Rs 304.51 crore on 19.1% increase in net sales to Rs 2380.26 crore in Q4 March 2017 over Q4 March 2016. The stock topped the losers in A group. On the BSE, 7,207 shares were traded on the counter so far as against the average daily volumes of 657 shares in the past two weeks.

Punjab National Bank fell 4.18% at Rs 167.25. The stock was the second biggest loser in A group. On the BSE, 16.51 lakh shares were traded on the counter so far as against the average daily volumes of 17.24 lakh shares in the past two weeks.

Edelweiss Financial Services skid 4.11% at Rs 182. The stock was the third biggest loser in A group. On the BSE, 7.58 lakh shares were traded on the counter so far as against the average daily volumes of 10.12 lakh shares in the past two weeks.

Religare Enterprises was down 3.91% at Rs 184.20. The stock was the fourth biggest loser in A group. On the BSE, 2,702 shares were traded on the counter so far as against the average daily volumes of 27,000 shares in the past two weeks.

Andhra Bank lost 3.75% at Rs 68.05. The stock was the fifth biggest loser in A group. On the BSE, 4.79 lakh shares were traded on the counter so far as against the average daily volumes of 6.63 lakh shares in the past two weeks.

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INR2.6 Trillion of Bank Credit Could Potentially Slip in the Next 12-18 Months
May 17,2017

India Ratings and Research (Ind-Ra) estimates that potentially INR2.6 trillion of corporate and SME loans (3.2% of total bank credit) will be recognised as stressed loans by FY19. As per Ind-Ra analysis Indian banks are sitting on unrecognised stressed loans worth of INR7.7 billion. India Ratings study pegs stressed corporate and SME debt at 22% of total bank credit. While a sizeable proportion of the unrecognised stressed exposure has strong group linkage or some form of parental support, potentially half of it could further slip in the next 12-18 months. The recognised stressed corporate and SME loans in the system stands at around 12% of total bank credit.

India Ratings highlighted that impaired assets will peak at 12.5%-13% by FY18/FY19. Credit costs however will show an extended recovery period (FY18F:185bp; FY16:230bp), as a large proportion of recently acquired higher-bucket non-performing loans keep aging. This will keep the return on assets (RoAs) for public sector banks and private sector banks at around 20bp below their respective long-term medians.

India Ratings estimates that out of the total unrecognised stressed book that banks are sitting on, around 1.8% is to stressed public sector units, around 2% of it either enjoys some group support and could flow to joint lender forum or would be subject to asset sale, around 2.9% could be the addition to the restructured book from infrastructure projects and 3.2% is the potential slippage in next 12-18 months.

The sector wise break up of stress shows some interesting findings; the sectors which have the highest unrecognised stressed exposure include infrastructure, power, telecom and real estate among a few other sectors. While the iron and steel sector has seen lot of stress recognition in the Asset Quality Review exercise conducted by the Reserve Bank of India in the last fiscal, provisioning continues to remain inadequate considering higher loss given default estimates. Some sectors including infrastructure, real estate among others have lower amount of stress recognised as in many cases they enjoy group support.

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