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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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Shares of Shashank Traders get listed
Dec 19,2016

The equity shares of Shashank Traders (Scrip Code: 540221) are listed effective 19 December 2016 and admitted to dealings on the Exchange in the list of XT Group Securities

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IRB Infrastructure Developers provides update on subsidiary - IRB Goa Tollway
Dec 19,2016

IRB Infrastructure Developers announced that pursuant to the measures approved by the Cabinet Committee on Economic Affairs (CCEA) for revival of the construction sector directing government agencies to pay 75% of the arbitral award amount against Bank Guarantee where government agencies have challenged the arbitral award; IRB Goa Tollway - Wholly owned subsidiary of the Company (IRBGT) has received from NHAI Rs. 241.89 crore against the Bank Guarantee submitted by IRBGT as 75% of the Arbitral Award amount pronounced by the Arbitral Tribunal.

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PSU OMCs in spotlight after fuel price hike
Dec 19,2016

Shares of public sector oil marketing companies (PSU OMCs) will be in focus after announcing a hike in petrol and diesel prices. Indian Oil Corporation (IOCL) on Friday, 16 December 2016, announced an increase in the price of petrol and diesel with effect from the midnight of 16/17 December 2016. Petrol price was hiked by Rs 2.21 per litre and diesel price was raised by Rs 1.79 a litre at Delhi (excluding state levies).

The current level of international product prices of petrol & diesel and rupee-dollar exchange rate warrant increase in selling price of petrol and diesel, the impact of which is being passed on to the consumers with this price revision, IOCL said in a statement. The movement of prices in the international oil market and rupee-dollar exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes, it added.

Laurus Labs debuts on the secondary equity market today, 19 December 2016. The company priced the initial public offer (IPO) at the top end of the Rs 426 - Rs 428 a share price band. The bidding for the IPO opened on 6 December and closed on 8 December 2016. The issue received bids for 10.01 crore shares compared with 2.19 crore shares on offer. The IPO was subscribed 4.57 times.

Axis Bank announced that it has reviewed and decided to reduce its marginal cost of funds based lending rates (MCLR) by 10 basis points (bps) in the overnight tenor and by 15 bps across all other tenors with effect from 17 December 2016. The announcement was made after market hours on Friday, 16 December 2016. The banks MCLR for overnight loans will be 8.55%, for one month will be 8.55% and for three months will be 8.75%. The MCLR on 6-month loans will be 8.85% and for one-year loans the rate would be 8.9%, the bank said. MCLR for two-year loans would be at 8.95% and loans with three-year maturity would carry an MCLR of 9%, the bank said.

NTPC and National Aluminium Company (Nalco) will be in spotlight. Nalco and NTPC have entered into an memorandum of understanding (MoU), for developing power projects and other business collaborations in India. The announcement was made after market hours on Friday, 16 December 2016.

Under the MoU, the companies will float a joint venture namely NTPC-Nalco Power Company(NNPC) to set up power plants. The first such power plant is planned at Gajamara, Odisha with a capacity of 2,400 megawatts (MW) (3X800 MW), at an estimated investment of Rs 14000 crore. The proposed super critical power plant with state-of-the-art technology will supply uninterrupted power to Nalcos smelter at Angul. The process for acquisition of 1,600 acres of land in Gajamara has already commenced.

Speaking on the occasion, Minister of State for power, coal, new & renewable energy and mines, Piyush Goyal highlighted that the joint venture is a win-win situation between Nalco & NTPC. Nalco is planning a brownfield expansion at its aluminium smelter in Angul, with an additional capacity of 5 lakh tonnes per annum, at an estimated capital expenditure (capex) of Rs 10000 crore. The company possesses the required land and other infrastructure for the purpose. The proposed expansion will help the Nalco to achieve economy of scale and substantially reduce its cost of production. This expansion will be taken up immediately by Nalco. Goyal also mentioned that Nalco is also planning to set up a greenfield aluminium smelter project with a capacity of 6 lakh tonnes per annum (TPA) in Kamakhyanagar, Odisha at an estimated investment of Rs l2000 crore.

CEAT announced after market hours on Friday, 16 December 2016, approval of an investment of approximately Rs 2800 crore, spread over a period of five years leading up to financial year 2022. With this investment, CEATs capacity would go up by 1 million tyres per annum for truck bus radials, 17 million tyres per annum for 2-wheelers and 6 million tyres per annum for passenger car radials. The investments are proposed to be funded through a blend of debt and equity.

Additionally, the board has also approved the appointment of Kumar Subbiah as chief financial officer of the company with effect from 16 January 2017 in place of Manoj Jaiswal, who takes over a different responsibility.

JK Lakshmi Cement announced on Saturday, 17 December 2016, that it received shareholders approval to raise up to Rs 500 crore by issuing non-convertible debentures (NCDs) on private placement basis.

Gayatri Projects announced on Saturday, 17 December 2016, that its board of directors will meet on 26 December 2016 to consider 5-for-1 stock split.

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Board of Pesticides & Brewers to consider filing of revocation application with stock exchange
Dec 17,2016

Pesticides & Brewers announced that a meeting of the Board of Directors of the Company will be held on 22 December 2016, inter alia, to consider the following;

1. To file Revocation application with stock exchange.

2. To appoint authorized signatory to execute all the relevant documents in respect of Revocation of the Company.

3. To appoint M/s. SARK & Associates to co-ordinate with relevant authorities in matter of Revocation of the Company.

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Board of OTCO International approves change in directorate
Dec 17,2016

OTCO International announced that the Board of Directors of the Company at its meeting held on 17 December 2016 has transacted the following -

Taken on record resignation of Kesavan Ramadasan with effect from 03 December 2016.

Appointement of Balakrishnan Ramasubramanian as Additional Director (Independent and Non Executive) with effect from 17 December 2016.

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National Fittings appoints director
Dec 17,2016

National Fittings announced Jayaram Govindarajan has been appointed as the Whole Time Director of the Company by the Board of Directors at their Board Meeting dated 14 December 2016.

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Royale Manor Hotels & Industries announces change in company secretary
Dec 17,2016

Royale Manor Hotels & Industries announced that the Board of Directors of the Company at its meeting held on 17 December 2016, has transacted the following;

1. Acceptance the resignation of Jainam Bagadiya from the post of Company Secretary of the Company.

2. Appointment of Krishna Ashara as a Company Secretary and Compliance Officer of the Company.

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Board of Luminaire Technologies accepts resignation of directors
Dec 17,2016

Luminaire Technologies announced that the Board of Directors of the Company at its meeting held on 17 December 2016, inter alia, has discussed and approved the following -

1. Anshuman Mohan Gupta, Director of the Company has resigned as Director and from the directorship of the Company and shall vacate his office from close of the business hours on 17 December 2016 at 1.00 p.m. and approved as under.

2. Sapna Gupta, Director of the Company has resigned as Director and from the directorship of the Company and shall vacate his office from close of the business hours on 17 December 2016 at 1.00 p.m. and approved as under.

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Tube Investments of India allots equity shares
Dec 17,2016

Tube Investments of India has on 17 December 2016 allotted 27,248 equity shares of Rs. 2/- each under ESOS 2007. After the allotment, the number of equity shares outstanding has increased to 18,74,37,871 and the paid up equity share capital is Rs 37.48 crore.

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Bodal Chemicals provides update on scheme of amalgamation
Dec 17,2016

Bodal Chemicals announced that the Company has received the certified copy of oral order for approving the Scheme of Amalgamation from Honble High Court of Gujarat.

Furthermore, upon the scheme becoming effective, the transferor company i.e. Bodal Agrotech shall stand dissolved without winding up. Hence, Bodal Chemicals will not submit consolidated financial results henceforth as after this amalgamation, the Company will not have any subsidiary/ associate or JV company.

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MPS Infotecnics enters into agreement with ANI Technologies (OLA)
Dec 17,2016

MPS Infotecnics announced that the Company has entered into an agreement with ANI Technologies (OLA) for booking of OLA Cabs through its UVA Point dealer network.

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Board of Tirupati Industries (India) approves change in directorate
Dec 17,2016

Tirupati Industries (India) announced that the Board of Directors of the Company at its meeting held on 17 December 2016, inter alia, has approved:

1. Resignation of H. M. Jhaveri from the position of Managing Director and Director of the Company with immediate effect.

2. Appointment of K.F. Karani as Additional Director on the Board of the Company with immediate effect.

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Board of Foods & Inns approves private placement of warrants and equity shares
Dec 17,2016

Foods & Inns announced that the Board of Directors of the Company at its meeting held on 17 December 2016 decided the following -

To raise capital by way of -

i) conversion of loan into equity and issue of upto 40000 equity shares on private placement basis.

ii) further issue of 36000 warrants on private placement basis.

iii) further issue of 16500 equity shares on private placement basis.

Approved draft notice of EGM.

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Commercial Syn Bags to set up solar power generation system for captive consumption
Dec 17,2016

Commercial Syn Bags announced that the Company has placed a Purchase Order with Ujaas Energy, Indore on 16 December 2016 for purchase of 1.0 MW (1.2 MW peak (p)) Solar Power Generating System which will be installed at land to be acquired by the Company at Ujaas Solar Park (Sitamau, Madhya Pradesh). The electricity generated through Solar Power Generating System will be used as captive consumption for Companys Manufacturing Units situated at Pithampur (MP).

Further, the cost of project is estimated to be Rs. 6 crore (approx) which will be funded from bank loan and own sources.

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ABC India announces resignation of director
Dec 17,2016

ABC India announced that Rajyavardhan Kajaria, Director of the Company has resigned from the Board of Directors of the Company with effect from 17 December 2016 due to his personal reasons.

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