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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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Board of Hexaware Technologies recommends dividend
Aug 01,2017

Hexaware Technologies announced that the Board of Directors of the Company at its meeting held on 31 July 2017, inter alia, have recommended the dividend of Rs 1 per equity Share (i.e. 50%) , subject to the approval of the shareholders.

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Shiva Cement to hold board meeting
Aug 01,2017

Shiva Cement will hold a meeting of the Board of Directors of the Company on 4 August 2017.

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Cosmo Films announces board meeting date
Aug 01,2017

Cosmo Films will hold a meeting of the Board of Directors of the Company on 9 August 2017.

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Universal Starch Chem Allied to announce Quarterly Result
Aug 01,2017

Universal Starch Chem Allied will hold a meeting of the Board of Directors of the Company on 8 August 2017, to consider and approve the Un-audited Financial Results of the Company for the Quarter ended 30th June, 2017

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IFCI schedules board meeting
Aug 01,2017

IFCI will hold a meeting of the Board of Directors of the Company on 10 August 2017, to consider and approve the financial results of the Company for the quarter ended June 30, 2017

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Ador Welding to announce Quarterly Result
Aug 01,2017

Ador Welding will hold a meeting of the Board of Directors of the Company on 30 August 2017, to consider and approve the Unaudited Financial Results (Provisional-Standalone) of the Company, along with Segmentwise Revenue, Results & Capital Employed for the First Quarter (three months) ended 30th June, 2017 and as of 30th June 2017, respectively

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Lakshmi Vilas Bank revises MCLR rates
Aug 01,2017

Lakshmi Vilas Bank has revised the Marginal Cost of Funds based Lending Rates with effect from 01 August 2017 as under -

Overnight - 9.50%
One month - 9.50%
Three month -9.50%
Six month - 9.45%
One year - 9.45%

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Ashok Leyland records 14% growth in total sales in July 2017
Aug 01,2017

Ashok Leyland has achieved total sales of 11981 units in month of July 2017, a growth of 14% over sales of 10492 units in July 2016.

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Capital First invests Rs 99.99 crore in subsidiary - Capital First Home Finance
Aug 01,2017

Capital First has made an investment of Rs 99.99 crore in Capital First Home Finance, a wholly owned subsidiary by way of subscription to rights issue of equity shares of CFHF which have been allotted on 31 July 2017. The said funds will be utilised for growth of operations of CFHF.

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Maruti Suzuki gains after good July sales
Aug 01,2017

The announcement was made during trading hours today, 01 August 2017.

Meanwhile, the S&P BSE Sensex was up 5.74 points, or 0.02% to 32,520.68.

On the BSE, 41,000 shares were traded in the counter so far, compared with average daily volumes of 50,696 shares in the past one quarter. The stock had hit a high of Rs 7,920 so far during the day, which is also a record high for the counter. The stock had hit a low of Rs 7,729.05 so far during the day. The stock hit a 52-week low of Rs 4,769.65 on 21 November 2016.

The stock had outperformed the market over the past one month till 31 July 2017, rising 6.79% compared with 5.15% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 14.95% as against Sensexs 8.67% rise. The scrip had also outperformed the market in past one year, rising 58.28% as against Sensexs 16.11% rise.

The large-cap company has equity capital of Rs 151.04 crore. Face value per share is Rs 5.

Maruti Suzuki Indias domestic sales grew by 22.4% to 1.54 lakh units in July 2017 over July 2016. Export sales rose 0.01% to 11,345 units in July 2017 over July 2016.

Maruti Suzuki Indias net profit rose 4.4% to Rs 1556.40 crore on 16.7% rise in net sales to Rs 17132.40 crore in Q1 June 2017 over Q1 June 2016.

Maruti Suzuki India is Indias biggest car maker in terms of market share. Japanese parent Suzuki Motor Corporation currently holds 56.21% stake in Maruti Suzuki India (as per the shareholding pattern as on 30 June 2017).

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Zydus receives final approval for Temozolomide Capsules
Aug 01,2017

Zydus Cadila has received final approval from USFDA to market Temozolomide Capsules in strengths of 5 mg, 20 mg, 100 mg, 140 mg, 180 mg and 250 mg. Temozolomide capsule is a chemotheraphy drug used in the management of brain tumors.

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Union Bank of India gets levy of penalty by RBI
Aug 01,2017

Union Bank of India announced that the Reserve Bank of India has imposed a penalty of Rs. 1 crore on the Bank for non-compliance with the directions issued by RBI on Know Your Customer (KYC) norms in a case of huge cash withdrawals in certain accounts maintained with the Bank.

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Polyplex (Thailand) to set up greenfield PET film line project in Indonesia
Aug 01,2017

Polyplex Corporation announced that the Board of Directors of Polyplex (Thailand), a subsidiary of the Company in which the Company has 51% stake in equity share capital, have decided to set up a greenfield PET Film Line project of a capacity of 44,000 TPA alongwith upstream resin line and downstream coating plant, in Indonesia at an estimated cost of USD 95 Million (including Working Capital of USD 15 Million).

Above project would be implemented in a subsidiary/ step down subsidiary of PTL.

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Indias solar capacity fell short of target of 17 GW by FY2017: study
Aug 01,2017

Indias installed solar capacity fell short of target of 17 gigawatts (GW) by the end of FY2017, the country will need to significantly ramp up the pace of solar capacity additions by 10 GW this year and 15+ GW per year to meet the 2022 target, noted a recent ASSOCHAM-NEC joint study.

In 2014, Indias Prime Minister Narendra Modi announced a goal to increase solar power capacity to 100 GW by 2022n++five times higher than the previous target, said the report.

The biggest technological issue in terms of solar is the efficiency of solar cells. Currently the efficiency ranges from 12% to 20%, though this continues to improve. The rest of the energy striking the panel is either reflected or is wasted as heat. The main issue with efficiency is that higher efficiency solar panels cannot be commercially mass produced, said the ASSOCHAM-NEC study.

To achieve the 100 GW target by 2022, the focus has slightly shifted from indigenous manufacturing. Policies to curb the imports from other countries (for instance China) are not benefiting the domestic manufacturing. Furthermore the increase in taxes in the GST structure in solar from 0% to 5% coupled with reduced taxes in coal from 11.69% to 5% may lead to slow adoption of solar in Indian energy sector.

Lack of uniform policies across sectors and implementation issues is also an area of concern. In India subsidy structure is complex and there are involvement of multiple agencies. Land allotment is a long procedure in India, which requires approvals at different levels from authorities.

Currently the foreign investment in Indian solar industry is less than 20%. Even after the 100% FDI under automatic route and 74% through foreign equity participation in a joint venture (without approval), it has not paved the path for significant foreign investments in Indian solar industry.

One major issue with solar power is its reliability. At best, a solar panel can generate power for 12 hours a day. As the solar power is available only in at a certain time interval, it makes sense to bottle up the energy and save it for later use. However, main issue with battery packs is the longevity and cost for better reliability. Reliability of grid integration system is also an issue in most of the small residential and commercial rooftop systems and large utility-scale solar power stations.

Electricity transmission & distribution (T&D) performs a vital task of connecting end-users to electricity generators. Despite considerable improvement in the past decade, India has one of the highest level of electricity transmission and distribution (T&D) losses in the world. T&D losses represent electricity that is generated but does not reach to the end customer. Indias T&D losses range from 20%-30% which is primarily due to two reasons, (1) technical inefficiency, and (2) theft.

The solar panels used in India are not designed to handle very high temperatures and dust prone conditions. Because of this, module damages are common and result in loss in energy generation. Stress related damages to panel results reduced yield. It also increases the cleaning and replacement cost at the site. The efficiency of solar panel drops drastically even when a small portion is blocked by a film of dust.

Poor financial conditions of distribution companies coupled with inadequate financial capacity of stakeholders amounts to financial challenges in the Indian solar industry. Investment required per MW generation of solar power is around INR 6 crores, which means a total of approximately INR 600,000 crores for 100 GW.

Viability of solar power projects in India has become an area of serious concern. Solar projects being capital intensive, the project companies take hefty loans from the banks and any change in timeline or policy affects the overall budget of the project. Due to long timeline of the projects, payback period also gets extended.

For solar projects, cost of obtaining capital is usually considered high. This high risk is because of the counter party risk. The counter party risk is because of the inability of the distribution companies (Discoms) to pay for the power they purchase. Discoms have mandate to purchase renewable power to fulfil RPOs (renewable purchase obligations).

Indian solar industry is growing at a rapid pace and requires an integrator to coordinate with private companies and public sectors. There is a need of a consolidator to bring every stakeholder on the same table to better define policies and frameworks for Indian solar industry (public-private partnerships (PPPs) may offer an effective way to promote and implement rooftop solar PV projects, particularly in India).

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Maruti Suzuki India records 20% growth in sales in July 2017
Aug 01,2017

Maruti Suzuki India has sold a total of 165,346 units in July 2017, recording a growth of 20.6% over the same period of last fiscal. Total sales include 154,001 units in domestic market and 11,345 units of exports. The Company sold 137,116 units in July 2016.

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