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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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Gati declines after recent rally
Jul 03,2017

Meanwhile, the S&P BSE Sensex was up 315.20 points, or 1.02% at 31,236.81. The S&P BSE Small-Cap index was up 160.15 points, or 1.04% at 15,570.67.

On the BSE, 92,000 shares were traded on the counter so far as against the average daily volumes of 1.41 lakh shares in the past one quarter. The stock had hit a high of Rs 136 and a low of Rs 130 so far during the day. The stock had hit a 52-week high of Rs 189.45 on 2 August 2016 and a 52-week low of Rs 107.10 on 9 November 2016.

The stock had outperformed the market over the past one month till 30 June 2017, advancing 9.02% compared with the Sensexs 0.76% fall. The scrip had also outperformed the market over the past one quarter advancing 18.6% as against the Sensexs 4.3% rise. The scrip had, however, underperformed the market over the past one year declining 21.98% as against the Sensexs 14.53% rise.

The small-cap company has equity capital of Rs 19.67 crore. Face value per share is Rs 2.

Shares of Gati had rallied 6.51% in the preceding three trading sessions to settle at Rs 134.20 on Friday, 30 June 2017, from its close of Rs 126 on 27 June 2017.

Gatis consolidated net profit fell 40.2% to Rs 9.29 crore on 3.4% decrease in net sales to Rs 410.28 crore in Q4 March 2017 over Q4 March 2016.

Gati is a pioneer and leader in express distribution and supply chain solutions in India.

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ASSOCHAM seeks dropping of proposal for mandatory telecom equipment testing
Jul 03,2017

Opposing any more layer of regulation to the highly indebted telecom industry, battling several challenges, the ASSOCHAM has approached the Department of Telecommunication with a plea to drop the proposal of mandatory testing of telecom equipment which is used in India after certification from well-known third party global bodies.

In a letter to the Telecommunication Secretary and Chairperson of the Telecom Commission , Ms Aruna Sundarajan, the ASSOCHAM has said that the move to get the draft guidelines by the Telecom Engineering Centre for mandatory testing of the end to end equipment would add one more layer of regulation and go against the spirit of ease of doing business.

It said, in any case, the telecom industry is n++already heavily debt riddenn++ and any more regulatory compliance burden would create serious issues in the global supply chain cycle. n++Declining revenues, mounting debt, hyper-competitive market place have posed tremendous pressure on network investments, expansionsn++.

The ASSOCHAM letter signed by its Secretary General Mr D S Rawat said, n++products (end to end equipment) are developed keeping in view the relevant legal and regulatory requirements in global markets including India and equipment makers proactively ensure stringent technical and environmental standards. The telecom products that are envisaged in mandatory testing by TEC are developed based on various international standards and do undergo rigorous testing and certification regime at international labs for Environment, Health, Safetyn++.

Mr. Rawat also said that most of the critical telecom infrastructure supplied to operators and other intermediaries in the entire voice and data chain are being manufactured in India itself, in the spirit of the Make in India programme.

The ASSOCHAM, thus sought doing away with the proposal. n++Instead of adding one more layer of testing, when in doubt, TEC may recognize and review from time to time the test reports and certificates issued by conformity assessment bodies that are internationally reputed to assess whether products conform to the standards and safety requirements, as happening nown++.

ASSOCHAM has cautioned that this mandatory testing would not only be counter-productive to the industry which is already heavily debt ridden and would also create serious issues in the global supply chain cycle. Declining revenues, mounting debt, hyper-competitive market place have posed tremendous pressure on network investments, expansions. The financial pressure is leading to further debt and the industry is already going through a rough patch leading to consolidations at both operators as well as the global OEMs.

There have been consistent efforts from the government to improve the ease of doing business in India to enhance the productivity and competitiveness of industry. While the industry is on its way to gear up towards new era in to digital networked society with mass uptake of mobile broadband and digitalization of industry to embark upon the next revolution in telecom in India, the proposed draft guidelines for n++Mandatory Testingn++ of telecom equipment will definitely be a showstopper for this journey.

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TVS Motor Company cuts prices on its two wheelers
Jul 03,2017

TVS Motor Company announced that it has reduced prices on its two wheelers to pass on GST benefits to its customers.

The price reduction is in the range of Rs. 350 to Rs. 1,500 in the commuter segment. In the premium segment products, the prices are reduced up to Rs. 4,150 depending on each State. Dealers will be given suitable assistance on the opening stock as on 1st July 2017 purchased by them at a pre-GST price.

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NBCC (India) gains after winning railway project
Jul 03,2017

The announcement was made after market hours on Friday, 30 June 2017.

Meanwhile, the S&P BSE Sensex was up 287.39 points, or 0.93% to 31,209

On the BSE, 1.35 lakh shares were traded in the counter so far, compared with average daily volumes of 1.92 lakh shares in the past one quarter. The stock had hit a high of Rs 209.35 and a low of Rs 203.50 so far during the day. The stock hit a record high of Rs 213.70 on 22 June 2017. The stock hit a 52-week low of Rs 126 on 1 July 2016.

The stock had outperformed the market over the past one month till 30 June 2017, rising 4.92% compared with the Sensexs 0.76% fall. The scrip had also outperformed the market over the past one quarter advancing 17.66% as against the Sensexs 4.3% rise. The scrip had also outperformed the market over the past one year surging 57.31% as against the Sensexs 14.53% rise.

The large-cap company has equity capital of Rs 180 crore. Face value per share is Rs 2.

NBCC (India) and Rail Development Authority, a statutory authority under the Ministry of Railways have signed a Memorandum of Understanding (MoU) for re-development of 10 Railway stations i.e. Tirupati, Pudducherry, Eranakulam, Nellore, Madgaon, Thane, Lucknow, Kota, Gomati Nagar (Lucknow) and Sarai Rohilla (Delhi). The re-development of railway station would be integrated with Smart City features.

The project would be developed on self sustainable finance model through commercial exploitation of vacant railways land, NBCC (India) said. Commercial built up space having Business Centre, Offices, F&B courts, Restaurants, Hotels, Retails, IT/Ites & air space over tracks shall be leased out to generate funds for development of stations, the company said.

Meanwhile in a separate announcement made during market hours today, 3 July 2017, NBCC (India) said that the company has signed a Memorandum of Understanding (MoU) with South Delhi Municipal Corporation (SDMC), Delhi for planning, designing and construction of office building / SDMC headquarters near Pragati Maidan, New Delhi amounting to Rs 525 crore (approximately).

On a consolidated basis, NBCC (India)s net profit rose 39.03% to Rs 173.97 crore on 4.94% increase in net sales to Rs 2351.78 crore in Q4 March 2017 over Q4 March 2016.

NBCC (India), a blue-chip Government of India (GoI) Navratna enterprise under the Ministry of Urban Development, is present in three segments of operations including project management consultancy (PMC), real estate development and EPC contracting. The GoI held 75% stake in the firm (as per shareholding pattern as on 31 March 2017).

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Bajaj Auto to roll out Husqvarna Motorcycles in 2018
Jul 03,2017

Bajaj Auto and its partner Austrian partner KTM have decided on the strategy to take Husqvarna Motorcycles brand global and scale up the business multiple times. The first models, Vitpilen 401, Svartpilen 401 and Vitpilen 701 will be produced in Mattighofen, Austria and launched in early 2018. Later in 2018, the Vitpilen 401 and Svatpilen 401 production for the global markets will be transferred to Bajajs Chakan factory.

Bajaj aims to sell Husqvarna Motorcycles at a similar level as KTM products in India and Indonesia. The Chakan produced Joint Products volume for global markets, which is planned to exceed 100,000 units in 2017, is expected to double to 200,000 units sold in the next years.

Bajaj Auto and KTM, Europes biggest motorcycle producer based in Austria, are celebrating the 10th anniversary of their partnership this year. The product lines DUKE 125-390 and RC 125-390 are produced in Bajajs production facility in Chakan and are distributed by the two partners globally.

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Nirlon to hold board meeting
Jul 03,2017

Nirlon will hold a meeting of the Board of Directors of the Company on 9 August 2017 Un-audited Financial Results for the Quarter ended June 30, 2017

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Trent to hold board meeting
Jul 03,2017

Trent will hold a meeting of the Board of Directors of the Company on 31 July 2017 Unaudited Financial Results of the Company for the first quarter ended 30th June 2017.

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Inditalia Refcon to hold board meeting
Jul 03,2017

Inditalia Refcon will hold a meeting of the Board of Directors of the Company on 4 July 2017 for the Quarter ended 30th June, 2017

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Bansal Roofing Products to hold board meeting
Jul 03,2017

Bansal Roofing Products will hold a meeting of the Board of Directors of the Company on 10 July 2017 AGM, Right Issue

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Kalyani Forge to hold AGM
Jul 03,2017

Kalyani Forge announced that the 38th Annual General Meeting(AGM) of the company on 25 July 2017.

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IDFC Bank to hold AGM
Jul 03,2017

IDFC Bank announced that the 3rd Annual General Meeting(AGM) of the bank on 28 July 2017.

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HCC - URC Construction JV awarded Rs 798 crore contract
Jul 03,2017

Hindustan Construction Company announced that the Companys JV with URC Construction has been awarded a Rs 797.29 crore contract by the Bangalore Metro Rail Corporation. HCCs share in the JV is 51% (Rs 406.61 crore). The project is to be completed in 36 months.

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LGB Forge to hold AGM
Jul 03,2017

LGB Forge announced that the 11th Annual General Meeting(AGM) of the company on 27 July 2017.

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Mawana Sugars to hold AGM
Jul 03,2017

Mawana Sugars announced that the 53th Annual General Meeting(AGM) of the company on 27 July 2017.

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Shilpi Cable Technologies to hold board meeting
Jul 03,2017

Shilpi Cable Technologies will hold a meeting of the Board of Directors of the Company on 30 June 2017.

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