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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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FPIs in selling mode
Dec 07,2016

Foreign portfolio investors (FPIs) sold stocks worth a net Rs 270.42 crore into the secondary equity markets on 5 December 2016, compared with their net outflow of Rs 138.40 crore during the preceding trading session on 2 December 2016. The net outflow of Rs 270.42 crore on 5 December 2016 was a result of gross purchases of Rs 3386.98 crore and gross sales of Rs 3657.40 crore. On that day, the Sensex had risen 118.44 points or 0.45% to settle at 26,349.10, its highest closing level since 1 December 2016.

There was an outflow of Rs 8.13 crore from the category primary markets & others on 5 December 2016.

FPIs have sold stocks worth a net Rs 1170.56 crore into the secondary equity markets in this month so far (till 5 December 2016). FPIs bought shares worth a net Rs 20116.27 crore from the secondary equity markets last month. FPIs have purchased shares worth a net Rs 19885 crore from the secondary equity markets in calendar year 2016 so far (till 5 December 2016). FPIs sold shares worth a net Rs 4863.71 crore into the secondary equity markets in calendar year 2015.

There has been a net inflow of Rs 5.33 crore from FPIs into the category primary markets & others in this month so far (till 5 December 2016). There was a net inflow of Rs 1872.02 crore from FPIs into the category primary markets & others last month. The net inflow from FPIs into category primary markets & others has totaled Rs 7693 crore in calendar year 2016 so far (till 5 December 2016). There was net inflow of Rs 22168.40 crore from FPIs into the category primary markets & others in calendar year 2015.

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Lupin edges higher after getting final USFDA approval for generic ointment
Dec 07,2016

The announcement was made after market hours yesterday, 6 December 2016.

Meanwhile, the S&P BSE Sensex was up 49.06 points or 0.19% at 26,441.82.

On the BSE, 21,827 shares were traded on the counter so far as against the average daily volumes of 98,710 shares in the past one quarter. The stock had hit a high of Rs 1,544.85 and a low of Rs 1,513.10 so far during the day.

The stock had hit a 52-week high of Rs 1,911.55 on 9 February 2016. The stock had hit a 52-week low of Rs 1,294.05 on 29 March 2016. The stock had outperformed the market over the past one month till 6 December 2016, rising 7.54% compared with the Sensexs 3.23% fall. The scrip had also outperformed the market in past one quarter, declining 0.49% as against the Sensexs 8.92% fall.

The large-cap company has equity capital of Rs 90.27 crore. Face value per share is Rs 2.

Lupin said that its US subsidiary, Lupin Pharmaceuticals, Inc. received final approval for its Desoximetasone Ointment USP, 0.25% from the United States Food & Drug Administration (USFDA) to market a generic version of Taro Pharmaceuticals, Incs Topicort Ointment, 0.25%.

It is indicated for the relief of the inflammatory and pruritic manifestations of corticosteroid responsive dermatoses. Topicort had annual US sales of $14.4 million as per IMS MAT September 2016 data.

Lupins consolidated net profit jumped 57.8% to Rs 662.19 crore on 31.9% rise in net sales to Rs 4211.18 crore in Q2 September 2016 over Q2 September 2015.

Lupin is an innovation led transnational pharmaceutical company developing and delivering a wide range of branded & generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) globally.

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Bharti Airtel announces appointment of MD and CEO for Airtel Africa
Dec 07,2016

Bharti Airtel announced top level changes in its African operations. Raghunath Madhav, who is currently the Chief Operating Officer - Airtel Africa, will take over as Managing Director and CEO - Airtel Africa with effect from 01 January 2017.

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Jack up Govt expenditure to make up for loss in private consumption due to demonetisation: ASSOCHAM
Dec 07,2016

As the private consumption would be taking a significant hit on account of cash crunch in the economy at least in the next two quarters, the government should make all efforts to at least partly limit the impact of demonetization on the GDP by sharply jacking up its own expenditure during the fiscal 2016-17, the ASSOCHAM has said.

Measured in terms of expenditure, the Private Final Consumption Expenditure (PFCE) or popularly known as the India consumption story accounts for close to 60 per cent of the countrys Gross Domestic Product (GDP) at current prices and 55 per cent at constant prices (base 2011-12).

n++With 86 per cent of the cash out of circulation and replenishment facing difficulties, the PFCE in the third quarter is expected to see a sizeable reduction to the extent of at least 35-40 per cent and slightly lower in the fourth quarter. Surely, when an important component accounting for 60 per cent of the GDP takes a hit to this extent, the overall impact is bound to be significant,n++ the ASSOCHAM said.

In terms of numbers, the PFCE, at current prices, was estimated at Rs 21.78 lakh crore in Q2 of 2016-17 with a growth of 12.4 per cent over the similar period last year. At constant prices, it was estimated at Rs 16.26 lakh crore for the July-September quarter of the current fiscal with the growth of 7.6 per cent.

Different ministries which have been earmarked the annual budget, should exceed their expenditure aggressively in case the damage control has to be effected from the demonetisation in the short to medium term. The government expenditure itself accounts for a good part of the GDP to the extent of 14 per cent.

n++As against Rs 5.15 lakh crore in the second quarter of the current fiscal, the government expenditure , at market prices, should be jacked up to Rs 7 lakh crore for each of the third and fourth quarter, even if some fiscal imbalances take place for the sake of growth,n++ ASSOCHAM said.

The chamber also said focus should be on sectors like roads and highways, ports, railways, telecom infrastructure, irrigation, flood control and rural uplift programmes. n++Somehow, the government should devise ways to ensure that the construction of the projects do not suffer on account of shortages of cashn++.

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ICICI Bank nudges higher on fund raising plans
Dec 07,2016

The announcement was made after market hours yesterday, 6 December 2016.

Meanwhile, the BSE Sensex was up 56.96 points, or 0.22%, to 26,449.72.

On the BSE, 24,000 shares were traded in the counter so far, compared with average daily volume of 14.97 lakh shares in the past two weeks. The stock had hit a high of Rs 263 and a low of Rs 261.95 so far during the day.

ICICI Bank announced that the committee of executive directors of the bank is scheduled to have a meeting on 9 December 2016, to consider fund raising in single/multiple tranches in any currency through public/private placement by way of issuances of debt instruments etc. for the remaining period of the financial year ending 31 March 2017 (FY 2017).

ICICI Banks net profit rose 2.4% to Rs 3102.27 crore on 41.3% rise in total income to Rs 22759.08 crore in Q2 September 2016 over Q2 September 2015.

ICICI Bank is one of the leading private sector banks in India.

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Promote separate hill farming policy: ASSOCHAM plea to Ukhand govt.
Dec 07,2016

Uttarakhand needs to promote a separate hill farming policy as the state has a meagre 14 per cent net sown area, more so as 3/5th of the states total working population is engaged in agriculture, noted a recent ASSOCHAM-RNCOS joint study.

n++The performance of Uttarakhand in agriculture and allied activities has not been up to the mark as its share in the gross state domestic product (GSDP) had declined sharply from over 22 per cent in 2004-05 to just over nine per cent in 2014-15,n++ highlighted the study titled Agri business outlook in Uttarakhand, conducted by ASSOCHAM jointly with research firm RNCOS.

In terms of issues being faced by farm sector in Uttarakhand, the ASSOCHAM-RNCOS study highlighted that low level of land holdings is a key challenge as over 70 per cent of states farmers hold less than one hectare of land.

Considering that topography of Uttarakhand is characterised by sandy soils that do not retain water and due to unavailability of moisture in the soil, state has recorded poor crop productivity has so much so that agriculture sector clocked just about three per cent CAGR between 2004-05 and 2014-15.

In terms of year-on-year growth rate, Uttarakhands agriculture and allied sector has registered over five per cent growth in 2014-15 which is better than negative growth of 2.5 per cent recorded in the previous year.

n++Priority must be given to further developing irrigation infrastructure in Uttarakhand including the canal network and also lift canals, tube-well, pump sets and others,n++ said Mr Rawat.

n++Together with promotion of local and traditional hill crops, farmers must also be given adequate cover in terms of welfare schemes, besides adequate technical and financial support for water conservation should also be extended by the state administration,n++ he added.

n++Apart from this, steps should be taken to encourage improved agronomic practices for higher farm productivity, improved soil treatment, increased water holding capacity, judicious use of chemicals and enhanced soil carbon storage,n++ further said Mr Rawat.

Uttarakhand food and agro based sector has attracted investments worth over Rs 1,600 crore as of financial year (FY) 2015-16 increasing from about Rs 450 crore as of FY 2010-11 thereby clocking a CAGR of over 29 per cent, according to analysis of ASSOCHAM Economic Research Bureau (AERB).

The share of food and agro based industries has also increased from 0.4 per cent in total investments worth over Rs 98,960 crore attracted by Uttarakhand in FY 2010-11 to 1.1 per cent in total investments worth Rs 1.4 lakh crore attracted by the state in FY 2015-16, noted the chambers analysis.

The ASSOCHAM-RNCOS study has suggested the state to focus on strengthening rural economy by focusing more on dairy sector by imparting technical assistance for dairy development in Uttarakhand, more so as milk production in the state grew by just about one per cent between 2013-14 and 2014-15.

Strengthening of dairy farms, genetic up-gradation of cattle through induction of genetic variability in female germ plasma and establishment of goat units are some of the key initiatives that can help boost dairy production in the state, it suggested.

The state should promote poultry, fisheries, food processing, horticulture, agro-based, medicinal and aromatic herbs as thrust industries by offering a wide range of incentives and subsidies.

Besides, the state government in tandem with private sector should set up strong infrastructure backed by efficient supply chains in food and agro processing sector to increase farmers income and promote employment opportunities in rural areas.

Holistic development to achieve the goal of reducing yield gaps in important crops through focussed interventions and good productive practices is imperative for the state to improve its performance in agriculture and allied activities sector.

The state should aim to make agriculture more productive, sustainable, remunerative and climate resilient by promoting location specific, integrated/composite farming systems.

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Interest rate sensitive stocks in focus ahead of RBIs rate decision
Dec 07,2016

Interest rate sensitive bank, realty and auto stocks will be in focus ahead of the Reserve Bank of Indias (RBI) monetary policy decision scheduled at 14:30 IST today, 7 December 2016. It will be interesting to watch RBIs monetary policy stance this time in a scenario of governments recent historic move of demonetization of higher denomination notes and amid easing consumer inflation.

ICICI Bank announced after market hours yesterday, 6 December 2016, that the committee of executive directors of the bank is scheduled to have a meeting on 9 December 2016, to consider fund raising in single/multiple tranches in any currency through public/private placement by way of issuances of debt instruments etc. for the remaining period of the financial year ending 31 March 2017 (FY 2017).

Adani Enterprises announced after market hours yesterday, 6 December 2016, that the company has incorporated a wholly owned subsidiary namely, Adani Cementation Limited (ACL) on 6 December 2016.

Lupin announced after market hours yesterday, 6 December 2016, that its US subsidiary, Lupin Pharmaceuticals, Inc. received final approval for its Desoximetasone Ointment USP, 0.25% from the United States Food & Drug Administration (USFDA) to market a generic version of Taro Pharmaceuticals, Incs Topicort Ointment, 0.25%. It is indicated for the relief of the inflammatory and pruritic manifestations of corticosteroid responsive dermatoses. Topicort had annual US sales of $14.4 million as per IMS MAT September 2016 data.

Jubilant FoodWorks announced after market hours yesterday, 6 December 2016, that Dominos launched new products designed for Foodies -Quattro Formaggi Burst Pizza and Choco Pizza.

Kirloskar Brothers announced after market hours yesterday, 6 December 2016, that Kirloskar Brothers International Pty Limited, companys step down subsidiary company in South Africa, being direct subsidiary of Kirloskar Brothers International B.V. has incorporated Kirloskar Brothers International Zambia Limited as its wholly owned subsidiary on 30 November 2016.

Shiva Cement announced before market hours today, 6 December 2016, that the board of directors of the company at a meeting held on 6 December 2016, approved allotment of 80 lakh equity shares of Rs 2 each at a premium of Rs 4.20 per share to Harsh Vanijya Private Limited upon exercise of option by them for conversion of equity share warrants earlier allotted to them on preferential basis.

Vishal Bearings announced after market hours yesterday, 6 December 2016, that the board of directors of the company have fixed the record date as 16 December 2016 for 1:4 bonus issue.

VST Tillers Tractors reported after market hours yesterday, 6 December 2016, power tiller sales of 1,495 units and tractors sales of 684 units in November 2016.

Deep Industries informed that a meeting of qualified institutional placement (QIP) committee of the company is scheduled to be held on 9 December 2016, to consider and determine the price of equity shares of the company to be issued in the QIP. The announcement was made after market hours yesterday, 6 December 2016.

KEI Industries in focus. In continuation of companys earlier update on planned capex/expansion at Chopanki plant, KEI Industries has announced after market hours yesterday, 6 December 2016, that new production line of Extra High Voltage (EHV) cables at Chopanki plant would be operational by the end of December 2016.

IL&FS Transportation Networks announced that the Joint Venture comprising of the company and PJSC Kyivmetrobud in the ratio of 70:30 had submitted bids with the Chennai Metro Rail (CMRL) on item rate basis for design validation and construction of works of underground station.

The Joint Venture has emerged as the lowest bidder for the development of the project. The Joint Venture had quoted an amount of Rs 371.218 crore for the project to be completed in a period of 20 months. The announcement was made after market hours yesterday, 6 December 2016.

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Jubilant FoodWorks provides update on Dominos Pizza India
Dec 07,2016

Jubilant FoodWorks announced that Dominos Pizza India has launched two new products - Quattro Formaggi Burst Pizza and the Choco Pizza.

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VST Tillers Tractors announces sales figures
Dec 07,2016

VST Tillers Tractors sold 1495 no. of Tillers and 684 no. of Tractors in the month of November 2016.

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Balaji Telefilms announces resignation of CEO of Balaji Motion Pictures
Dec 07,2016

Balaji Telefilms has announced that Aman Gill has resigned as CEO of Balaji Motion Pictures, a 100% subsidiary of Balaji Telefilms. The movies business which currently has two movies under production will continue to function under the supervision of the Group CEO, Sameer Nair.

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Shares of Osiajee Texfab get listed
Dec 07,2016

The equity shares of Osiajee Texfab (Scrip Code: 540198) are listed effective 07 December 2016 and admitted to dealings on the Exchange in the list of XT Group Securities.

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Shares of Corporate Merchant Bankers get listed
Dec 07,2016

The equity shares of Corporate Merchant Bankers (Scrip Code: 540199) are listed effective 07 December 2016 and admitted to dealings on the Exchange in the list of XT Group Securities.

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Board of Shiva Cement approves conversion of warrants
Dec 07,2016

Shiva Cement announced that the Board of Directors of the Company at its meeting held on 06 December 2016, inter alia, has approved the following:

Allotment of 80,00,000.Nos. of Equity Shares of Rs.2/- each at a premium of Rs. 4.20 per share to Harsh Vanijya upon exercise of option by them for conversion of Equity Share Warrants earlier allotted to them on preferential basis.

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Future Consumer enters into JV with L T Foods and Genoa
Dec 06,2016

Future Consumer announced that the Company has entered into a Joint Venture Agreement dated 06 December 2016 with L T Foods and Genoa Rice Mills (n++Genoan++), for undertaking the business of manufacturing, marketing, sales, sourcing and distribution of n++Sona Masoori / regional South Indian ricen++, as per the terms and conditions agreed under the said Joint Venture Agreement.

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Lupin gets final approval for generic Topicortn++ Ointment
Dec 06,2016

Lupin announced that its US subsidiary, Lupin Pharmaceutical Inc. has received final approval for its Desoximetasone Ointment USP, 0.25% from the UDFDA to market a generic version of Taro Pharmaceuticals Inc. Topicortn++ Ointment, 0.25%.

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