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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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Metal shares witness selling pressure
Dec 22,2016

Hindalco Industries (down 4.38%), Vedanta (down 4.27%), National Aluminium Company (down 3.27%), Jindal Steel & Power (down 3.14%), Steel Authority of India (down 3.12%), Tata Steel (down 2.94%), Hindustan Copper (down 2.75%), NMDC (down 2.22%), Hindustan Zinc (down 2.21%), Bhushan Steel (down 2.17%) and JSW Steel (down 1.3%), edged lower.

The S&P BSE Metal index was down 2.83% at 10,015.33. It underperformed the Sensex, which was down 0.94% at 25,996.10.

The S&P BSE Metal index had outperformed the market over the past 30 days till 21 December 2016, rising 2.96% compared with the 1.08% rise in the Sensex. The index had also outperformed the market in past one quarter, rising 4.97% as against Sensexs 8.80% decline.

Meanwhile, copper price edged lower in the global commodities markets. High Grade Copper for March 2017 delivery was currently down 0.78% at $2.4775 per pound on the COMEX.

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Board of Inditalia Refcon to consider December quarter results
Dec 22,2016

Inditalia Refcon announced that the Board Meeting of the Company for approval of Financial results and Investor Grievance Report for the Quarter ended 31 December 2016 shall be held on 02 January 2017.

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Volumes jump at Centrum Capital counter
Dec 22,2016

Centrum Capital clocked volume of 2.22 crore shares by 14:22 IST on BSE, a 1050.36-times surge over two-week average daily volume of 21,000 shares. The stock jumped 8.99% to Rs 29.10.

United Breweries notched up volume of 12.06 lakh shares, a 133.76-fold surge over two-week average daily volume of 9,000 shares. The stock lost 3.06% to Rs 758.

Titan Company saw volume of 1.15 crore shares, a 107.34-fold surge over two-week average daily volume of 1.08 lakh shares. The stock dropped 2.4% to Rs 311.40.

Shriram Transport Finance Company clocked volume of 25.55 lakh shares, a 70.90-fold surge over two-week average daily volume of 36,000 shares. The stock fell 2.14% to Rs 792.

Jaiprakash Power Ventures saw volume of 1.69 crore shares, a 57.56-fold rise over two-week average daily volume of 2.95 lakh shares. The stock declined 2.29% to Rs 3.84.

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HCL Technologies recognised as Leader for Internet of Things Services
Dec 22,2016

HCL Technologies announced that Everest Group named IoT WoRKSTM by HCL among leaders for IoT services in its recent report titled n++Internet of Things Services - PEAK MatrixTM Assessment and Market Trendsn++.

16 IoT services providers were analyzed for this study, and the assessment was based on Everest Groups annual RFI process for the calendar year 2016, interaction with IoT service providers, client reference checks, and assessment of the IoT services market

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Coal India announces change in directorate
Dec 22,2016

Coal India announced that Ministry of Coal vide office order dated 19 December 2016 has appointed C. K. Dey, Director(Finance), CIL on the Board of CMPDIL one of the Subsidiary companies of Coal India and Shekhar Saran, Director (Tech.), CIL (Addl. charge) on the Board of BCCL one of the Subsidiary companies of Coal India as a part time Director with immediate effect and until further orders vice N. Kumar, Ex-Director(Tech.), CIL.

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Agenda for board meeting of Arnav Corporation
Dec 22,2016

Arnav Corporation announced that the meeting of the Board of Directors of the Company is scheduled to be held on 03 January 2017, inter alia, to transact the following business :

1. Appointment of New Director on the Board of the Company;

2. Shift Registered Office of the Company within the local municipal limit;

3. To consider, expansion into Broadcasting Industry.

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The Phoenix Mills gains as unit enters into non-binding term sheet with CPPIB
Dec 22,2016

The announcement was made during trading hours today, 22 December 2016.

Meanwhile, the BSE Sensex was down 286.26 points, or 1.09%, to 25,956.12.

On the BSE, so far 9,981 shares were traded in the counter, compared with average daily volumes of 2,544 shares in the past one quarter. The stock had hit a high of Rs 391.65 and a low of Rs 370 so far during the day.

The stock hit a 52-week high of Rs 445 on 8 September 2016. The stock hit a 52-week low of Rs 238.30 on 29 February 2016.

The Phoenix Mills said that its wholly-owned subsidiary, Island Star Mall Developers (ISML), on 22 December 2016, entered into a non-binding term sheet with Canada Pension Plan Investment Board (CPPIB). Under the agreement, CPPIB can acquire up to 49% of the post issue paid-up equity share capital of ISML over a period of three years.

If the transaction is consummated in its entirety, then The Phoenix Mills shareholding in ISML will reduced to 51% of the paid-up equity capital on a fully diluted basis. The funds so raised by ISML will be utilized for business development and growth purposes.

ISML owns and operates a retail mall in Bangalore known as Phoenix Marketcity. ISML recorded revenues of Rs 164.30 crore and profit after tax of Rs 37.10 crore in financial year ended 31 March 2016.

Earlier this week, The Phoenix Mills entered into a share purchase agreement for acquisition of the entire 15.18% stake in its subsidiary Offbeat Developers (ODPL) held by Vistra ITCL (India) and IIRF Holdings X. Further, the company has entered into a share purchase agreement to acquire Eder Rivers entire 4.98% stake in ODPL. Subsequent to the completion of both the aforesaid transactions, the shareholding of The Phoenix Mills in ODPL will increase from 74.48% to 94.64%. The announcement was made after market hours on Monday, 19 December 2016.

On a consolidated basis, net profit of Phoenix Mills rose 41.98% to Rs 54.28 crore on 16.22% rise in net sales to Rs 491.08 crore in Q2 September 2016 over Q2 September 2015.

The Phoenix Mills focuses on real estate development and entertainment.

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Board of Prism Medico & Pharmacy approves change in company secretary
Dec 22,2016

Prism Medico & Pharmacy announced that the Board of Directors of the Company at its meeting held on 22 December 2016 approved -

Resignation of Vikas Aggarwal from post of Company Secretary of the Company.

Appointment of Barkha Jain as Company Secretary of the Company.

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Pradeep Metals announces appointment of CFO
Dec 22,2016

Pradeep Metals announced that subsequent to the appointment of Rakesh Agarwal as the Chief Financial Officer of the Company, Dilip Dalvi (Dy. CFO) is relieved from his responsibility as KMP, however, he continues to be in the services of the Company as Dy. CFO reporting to Rakesh Agarwal (CFO) of the Company.

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Vedanta leads losers on BSEs A group
Dec 22,2016

Vedanta fell 4.38% at Rs 216.15. The stock topped the losers in A group. On the BSE, 5.72 lakh shares were traded on the counter so far as against the average daily volumes of 8.73 lakh shares in the past two weeks.

Unitech slipped 5.12% at Rs 4.08. The stock was the second biggest loser in A group. On the BSE, 36.67 lakh shares were traded on the counter so far as against the average daily volumes of 29.75 lakh shares in the past two weeks.

Cairn India skid 4.27% at Rs 242.05. The stock was the third biggest loser in A group. On the BSE, 51,000 shares were traded on the counter so far as against the average daily volumes of 2.13 lakh shares in the past two weeks.

IIFL Holdings declined 3.69% at Rs 256. The stock was the fourth biggest loser in A group. On the BSE, 4,909 shares were traded on the counter so far as against the average daily volumes of 11,000 shares in the past two weeks.

Alok Industries fell 3.88% at Rs 3.22. The stock was the fifth biggest loser in A group. On the BSE, 9.83 lakh shares were traded on the counter so far as against the average daily volumes of 25.67 lakh shares in the past two weeks.

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Nitesh Estates slips after redeeming NCDs
Dec 22,2016

The announcement was made after market hours yesterday, 21 December 2016.

Meanwhile, the BSE Sensex was down 261.45 points, or 1%, to 25,980.93.

On the BSE, so far 2,698 shares were traded in the counter, compared with average daily volumes of 47,456 shares in the past one quarter. The stock had hit a high of Rs 9.94 and a low of Rs 9.71 so far during the day.

The stock hit a 52-week high of Rs 16.35 on 6 January 2016. The stock hit a 52-week low of Rs 9.45 on 20 December 2016.

Nitesh Estates said it redeemed 700 non-convertible debentures (unlisted NCD) out of 1,250 non-convertible debentures held by IDFC for the aggregate value of Rs 70 crore.

On a consolidated basis, Nitesh Estates reported net loss of Rs 27.68 crore in Q2 September 2016 as against net loss of Rs 14.32 crore in Q2 September 2015. Net sales rose 34.29% to Rs 65.95 crore in Q2 September 2016 over Q2 September 2015.

Nitesh Estates is a first generation real estate company headquartered in Bangalore. The company is focused on homes, hotels, shopping malls and office buildings.

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Tata Consultancy Services partners with London Mutual Credit Union
Dec 22,2016

Tata Consultancy Services announced that London Mutual Credit Union (LMCU) has completed the migration of their technology platforms to run on TCS BaNCS on the Cloud.

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Phoenix Mills provides update on subsidiary - Island Star Mall Developers (ISML)
Dec 22,2016

Phoenix Mills announced that the Company have been informed by the wholly owned subsidiary of the Company, Island Star Mall Developers (ISML), that it has, on 22 December 2016, entered into a non-binding term sheet with Canada Pension Plan Investment Board (Proposed Investor), on the basis of which the Proposed Investor may, subject to execution of definitive agreements by the parties and fulfillment of conditions as may be applicable from time to time, over a [3-year] period acquire up to 49% of the post issue paid-up equity share capital of ISML (on a fully diluted basis), on such terms and conditions as may be mutually agreed between the parties in the said definitive agreements.

If the transaction is consummated in its entirety, then the Companys shareholding in ISML shall stand reduced to, but in any event not below 51% of the paid-up equity capital on a fully diluted basis. The Company have also been informed by ISML that in the event the transaction is completed as envisaged under the proposed definitive agreements, the funds so raised by ISML will be utilized for business development and growth purposes.

ISML owns and operates a retail mall in Bangalore known as Phoenix Marketcity, Bangalore. ISML recorded revenues of Rs. 164.30 crore and PAT of Rs. 37.10 crore for financial year ended 31 March 2016.

The Company will make appropriate disclosures to the exchanges upon receiving confirmation from ISML regarding finalization of terms with the Proposed Investor and execution of definitive agreements with the Proposed Investor.

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Banas Finance to consider appointment of CFO and directors
Dec 22,2016

Banas Finance will hold a Board Meeting on 30 December 2016 to consider and approve the following -

Appointment of Suresh Karat as CFO and Director of the Company.

Appointment of Manish Raul as Additional Director (Non Executive Independent Director)

Appointment of Aarti Gavnang as Additional Director (Non Executive Independent Director)

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Board of Rockon Enterprises to appoint director
Dec 22,2016

Rockon Enterprises announced that a Meeting of the Board of Directors of the Company will be held on 30 December 2016, inter alia, to consider and approve the following:

- Appointment of Aarti Ravindra Gavnang as additional director of the Company under Non-Executive Independent Category.

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