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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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Equitas Holdings intimates ratings assigned for Deposits programme of subsidiary
Mar 03,2017

Equitas Holdings announced that CRISIL has assigned CRISIL A1+ (pronounced as CRISIL A one plus) rating on Rs. 1000 crore Certificate of Deposits Programme of the Subsidiary Company, Equitas Small Finance Bank.

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Lupin gains after receiving final approval from USFDA for generic drug
Mar 03,2017

The announcement was made during market hours today, 3 March 2017.

Meanwhile, the S&P BSE Sensex was down 80.85 points or 0.29% at 28,757.38.

On the BSE, 10,780 shares were traded on the counter so far as against the average daily volumes of 72,224 shares in the past one quarter. The stock had hit a high of Rs 1,472 and a low of Rs 1,456.15 so far during the day.

The stock had hit a 52-week high of Rs 1,874.30 on 14 March 2016 and a 52-week low of Rs 1,294.05 on 29 March 2016. The stock had underperformed the market over the past one month till 2 March 2017, falling 1.52% compared with the Sensexs 2.17% rise. The scrip had also underperformed the market over the past one quarter, falling 1.86% as against the Sensexs 9.95% rise.

The large-cap company has equity capital of Rs 90.31 crore. Face value per share is Rs 2.

Lupin announced that it has received final approval for its Sodium Sulfate, Potassium Sulfate, and Magnesium Sulfate Oral Solution, 17.5 g/3.13 g/1.6 g per 6 ounces from the United States Food & Drug Administration (USFDA) to market a generic version of Braintree Laboratories Suprep Bowel Prep Kit.

Sodium Sulfate, Potassium Sulfate, and Magnesium Sulfate Oral Solution, 17.5 g/3.13 g/1.6 g is indicated for the cleansing of the colon in preparation for colonoscopy in adults. Suprep Bowel Prep Kit had annual US sales of $207.20 million as per IMS MAT December 2016 data.

Lupins consolidated net profit rose 20.7% to Rs 633.11 crore on 31.5% increase in net sales to Rs 4404.94 crore in Q3 December 2016 over Q3 December 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. The company is a significant player in the cardiovascular, diabetology, asthma, pediatric, CNS, GI, anti-infective and NSAID space and holds global leadership position in the anti-TB segment.

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Balkrishna Industries drops on profit booking
Mar 03,2017

Meanwhile, the S&P BSE Sensex was down 85.51 points, 0.3% to Rs 28,754.28.

On the BSE, 4,647 shares were traded on the counter so far as against the average daily volumes of 12,004 shares in the past one quarter. The stock had hit a high of Rs 1,354.65 and a low of Rs 1,307.85 so far during the day.

The stock had hit a record high of Rs 1,398 on 2 March 2017 and a 52-week low of Rs 572.90 on 2 March 2016. The stock had outperformed the market over the past one month till 2 March 2017, advancing 17.28% compared with the Sensexs 2.17% rise. The scrip had also outperformed the market over the past one quarter advancing 10.16% as against the Sensexs 9.95% rise.

The large-cap company has equity capital of Rs 19.33 crore. Face value per share is Rs 2.

Shares of Balkrishna Industries had rallied 16.49% in the preceding eight trading session to settle at Rs 1,342.05 yesterday, 2 March 2017, from its close of Rs 1,152 on 17 February 2017.

Balkrishna Industries net profit rose 94.2% to Rs 185.69 crore on 25.7% increase in net sales to Rs 864.69 crore in Q3 December 2016 over Q3 December 2015.

Balkrishna Industries is a leading manufacturer in the off-highway tire market. The company has focused on specialist segments such as agricultural, construction and industrial vehicles as well as earthmoving, port and mining, ATV, and gardening applications.

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Syngene International gains after entering into partnership with Herbalife Nutrition
Mar 03,2017

The announcement was made after market hours yesterday, 2 March 2017.

Meanwhile, the S&P BSE Sensex was down 77.09 points, 0.27% to Rs 28,762.70.

On the BSE, 18,000 shares were traded on the counter so far as against the average daily volumes of 40,750 shares in the past one quarter. The stock had hit a high of Rs 504.40 and a low of Rs 487 so far during the day.

The stock had hit a 52-week high of Rs 663.30 on 9 December 2016 and a 52-week low of Rs 349 on 5 April 2016. The stock had underperformed the market over the past one month till 2 March 2017, declining 10.18% compared with the Sensexs 2.17% rise. The scrip had also underperformed the market over the past one quarter declining 14.86% as against the Sensexs 9.95% rise.

The mid-cap company has equity capital of Rs 200 crore. Face value per share is Rs 10.

Herbalife a global nutrition company, yesterday, 2 March 2017 announced the launch of its first nutrition research and development Lab in India, in partnership with Syngene. The strategic partnership will help Herbalife Nutrition develop and formulate world-class nutrition products for Indian consumers.

The new nutrition research and development facility spans 3,000 square feet, and is located within the Syngene campus at Bangalore. The facility also houses a separate good manufacturing practices (GMP) formulation lab to support product testing, sampling and end-product development.

Ajay Khanna,Vice President and Country Head, Herbalife International India said, practicing good nutrition habits is fast becoming a way of life and it is imperative for the company to ensure that it consistently deliver high quality and affordable products to our consumers.

Dr. Kiran Mazumdar Shaw, Managing Director, Syngene International said, the company is happy to partner with Herbalife in setting up their nutrition research and development Lab.

Syngene Internationals net profit rose 11.54% to Rs 74.40 crore on 17.7% increase in net sales to Rs 323.80 crore in Q3 December 2016 over Q3 December 2015.

Promoted by Biocon, Syngene International is one of Asias largest contract research organizations. The company provides discovery, development and manufacturing services across life-science based industries.

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New order boosts A2Z Infra Engineering
Mar 03,2017

The announcement was made after market hours yesterday, 2 March 2017.

Meanwhile, the S&P BSE Sensex was down 76.14 points or 0.26% at 28,763.65.

On the BSE, 2.27 lakh shares were traded on the counter so far as against the average daily volumes of 1.93 lakh shares in the past one quarter. The stock had hit a high of Rs 42.45 and a low of Rs 41.30 so far during the day.

The stock had hit a 52-week high of Rs 51.65 on 1 November 2016 and a 52-week low of Rs 19 on 1 April 2016. It had underperformed the market over the past one month till 2 March 2017, sliding 6.79% compared with the Sensexs 2.17% rise. The scrip had also underperformed the market over the past one quarter, advancing 0.63% as against the Sensexs 9.95% rise.

The small-cap company has equity capital of Rs 131.01 crore. Face value per share is Rs 10.

A2Z Infra Engineering said it has been awarded a contract worth $7.06 million from Grid Solar and Energy Efficiency Project, Nepal Electricity Authority for design, supply, delivery, installation, testing and commissioning of substations and lines.

A2Z Infra Engineering reported a net loss of Rs 24.06 crore in Q3 December 2016, higher than net loss of Rs 3.41 crore in Q3 December 2015. Net sales declined 58.1% to Rs 112.38 crore in Q3 December 2016 over Q3 December 2015.

A2Z Infra Engineering (formerly known as A2Z Maintenance & Engineering Services) is a fast growing, fully integrated electrical business group (EBG) in India catering to the needs of domestic and international power sector clients in building distribution and transmission infrastructure.

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Tayo Rolls to allots 2 lakh preference shares to Tata Steel
Mar 03,2017

Tayo Rolls announced that the Committee of the Board of Directors at its meeting held on 03 March 2017 has decided to allot 2 lakh 7.17% Non Cumulative Redeemable Preference Shares of Rs 100 each aggregating to Rs 2 crore to Tata Steel, the Promoter on preferential basis.

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Industry upbeat to expand business with Indian Ocean Rim Region (IORA) : FICCI Industry Perception Survey
Mar 03,2017

The Indian Ocean has been a fulcrum of Indian diplomacy. According to the Government of India, maritime trade accounts for about 75 per cent value and more than 90 per cent of volume of Indian trade. Possessing a population of 2 billion people with 9% of world GDP, 12% of global exports and 18% of global investment flows, the IOR region has enormous economic potential to expand and grow.

India enjoys a strategic location within the Indian Ocean region. Prime Minister Narendra Modi has endorsed the imperative to form a close connect with nations in the Indian Ocean Region during his visit to Seychelles, Mauritius and Sri Lanka in 2015 and his maiden trip to the East African countries of Kenya, Tanzania, Mozambique, and South Africa in 2016.

Countries of the Indian Ocean Rim Region are brought together under the umbrella of the Indian Ocean Rim Association (IORA).

As a run up to the Summit, FICCI, in its capacity as the Business Secretariat of IORA in India, conducted a perception survey to understand the current sentiment within the Indian industry on the economic potential of Indias engagement with the Indian Ocean region. The companies surveyed share deep trade and investment linkages with the IOR region. Responses were received from respondents across India and from participants of regional stakeholder consultations organised by FICCI in 3 metropolitan coastal cities- Kolkata, Mumbai and Chennai.

The companies represent wide span of sectors including fisheries and aquaculture, renewable ocean energy, seaports and shipping, offshore hydrocarbons and seabed minerals, manufacturing, construction, electricity, gas and water supply, business services, trading and renting, banking and financial services, health and education and information and communication technology, to promote the Blue Economy as a driver for sustainable development; research and development; investment, technology transfer and capacity building.

An overwhelming majority of respondents were upbeat about opportunities for trade and investment expansion within IORA and complementarities that India can tap with IORA. Manufacturing - both for IORA nations and for collaborative projects was rated quite high by the respondents reinforcing Government of Indias Make in India initiative. Moreover, better trade facilitation, appropriate dissemination channels, access to financial resources for smooth functioning of SMEs and innovative business models to encourage women entrepreneurship are some of the suggestive measures by the respondents to turn the region pro-business and investor friendly.

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Alembic Pharma gains after launch of drug by partner
Mar 03,2017

The announcement was made during market hours today, 3 March 2016.

Meanwhile, the BSE Sensex was down 70.64 points, or 0.25%, to 28,768.47.

More than usual volumes were witnessed on the counter. On the BSE, 9,588 shares were traded in the counter so far, compared with average daily volumes of 6,237 shares in the past one quarter. The stock had hit a high of Rs 615 and a low of Rs 600 so far during the day.

The stock had hit a 52-week high of Rs 699.50 on 5 October 2016. The stock had hit a 52-week low of Rs 515.55 on 18 April 2016. The stock had outperformed the market over the past one month till 2 March 2017, gaining 7.58% compared with the Sensexs 2.17% rise. The scrip had, however, underperformed the market over the past one quarter, falling 5.61% as against the Sensexs 9.95% rise.

The large-cap company has equity capital of Rs 37.70 crore. Face value per share is Rs 2.

Alembic Pharmaceuticals announced the launch of desvenlafaxine succinate extended-release tablets 50 mg and 100 mg by its partner Breckenridge Pharmaceutical, Inc.

Alembic had received final approval of its abbreviated new drug application (ANDA) which is therapeutically equivalent to the reference listed drug Pristiq of Pfizer Inc. The ANDA was filed as a paragraph IV on the first to file date and will share 180-day exclusivity with other ANDA first filers. Alembic is the manufacturer of the ANDA, which will be marketed exclusively by Breckenridge. The Paragraph IV litigation was settled on terms that are confidential, it added.

Desvenlafaxine is a prescription drug that is indicated for the treatment of major depressive disorder, and is in a class of medications called selective serotonin and norepinephrine reuptake inhibitors (SNRIs). Pristiq had an estimated sales of $883 million for twelve months ending December 2016, according to IMS.

Alembic Pharmaceuticals consolidated net profit fell 67.8% to Rs 86.55 crore on 15.9% decline in net sales 769.86 crore in Q3 December 2016 over Q3 December 2015.

Alembic Pharmaceuticals, a vertically integrated research and development pharmaceutical company, manufactures and markets generic pharmaceutical products all over the world.

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ISMT intimates of lifting of lock out at Jejuri plant
Mar 03,2017

ISMT announced that lockout has been lifted at its Jejuri plant with effect from 03 March 2017. Previously, the plant was declared locked out with effect from 16 February 2017.

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Big losses for bullions
Mar 03,2017

Bullion prices ended with big losses on Thursday, 02 March 2017 at Comex. Gold futures on Thursday suffered their biggest one-day loss of the year, finishing at a more than two-week low, after the U.S. dollar touched its highest levels since January on the back of increased suggestions from Federal Reserve officials fora near-term interest-rate hike.

Gold for April delivery fell $17.10, or 1.4%, to settle at $1,232.90 an ounce. Prices settled at their lowest since 14 February and saw their largest dollar and percentage decline since mid-December.

Silver for May delivery dropped 74.1 cents, or 4%, at $17.748 an ounce snapping a five-session climb.

On Thursday, the dollar, as measured by the ICE U.S. Dollar Index was trading 0.2% higher at 102 after touching its highest level in about two months. Investors are looking ahead to a speech Friday by Fed boss, Janet Yellen, for further hints on rates.

Economic data at wall Street showed that that those seeking first-time unemployment benefits in the U.S. fell 19,000 to 223,000, representing a new postrecession low and underscoring continued strength in employment. That data is likely to bolster the Feds case for rising rates.

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Hindalco Industries moves higher on qualified institutional placement
Mar 03,2017

The announcement was made after market hours yesterday, 2 March 2017.

Meanwhile, the S&P BSE Sensex was down 86.65 points or 0.3% at 28,753.14.

On the BSE, 8.52 lakh shares were traded on the counter so far as against the average daily volumes of 11.52 lakh shares in the past one quarter. The stock had hit a high of Rs 194.65 and a low of Rs 188 so far during the day.

The stock had hit a 52-week high of Rs 199.90 on 1 February 2017 and a 52-week low of Rs 71.55 on 2 March 2016. It had underperformed the market over the past one month till 2 March 2017, sliding 1.99% compared with the Sensexs 2.17% rise. The scrip had, however, outperformed the market over the past one quarter, advancing 12.26% as against the Sensexs 9.95% rise.

The large-cap company has equity capital of Rs 206.64 crore. Face value per share is Rs 1.

Hindalco Industries qualified institutional placement (QIP) opened yesterday, 2 March 2017. The floor price for the issue is Rs 184.45 per share. The floor price is at a discount of 2.66% to the stocks closing price of Rs 189.50 yesterday, 2 March 2017. There may be a discount of not more than 5% on the floor price for the purpose of evaluating QIP issue price.

Hindalco Industries reported a net profit of Rs 320.56 crore in Q3 December 2016 as against net loss of Rs 32.75 crore in Q3 December 2015. Net sales rose 15.2% to Rs 9226.04 crore in Q3 December 2016 over Q3 December 2015.

Hindalco Industries, metals flagship company of the Aditya Birla Group, is the industry leader in aluminium and copper.

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OECD Signs MoU with CII for Greater Collaborative Work
Mar 03,2017

n++India with 7% growth rate is flowing against the tide despite the difficult economic environment prevailing across the world,n++ said Mr. Angel Gurria, Secretary-General of Organisation for Economic Cooperation and Development (OECD).

The MoU reinforces their common commitment to promote best practices and collaboration to create a robust competitive environment for global trade, the Secretary - General observed.

The OECD, in its economic survey for India, hailed India as a top reformer, specifically noting the significance of demonetization and the imminent roll-out of the GST act. Mr. Gurria commended India on maintaining high economic growth rates despite the global economic environment not being suitable to this. n++India has maintained a 7% growth rate, which is four times the average for any OECD country and twice the world average,n++ he noted.

The major challenge now is to ensure inclusive growth. He particularly stressed this as the biggest failure of globalization and the need to address this to turn back the new protectionist tide we see in the world. He identified some key areas of India-OECD collaboration, including Energy, water conservation, electrification, pollution, urban-rural inequality, and especially gender inclusion. He noted how female participation in the labour market had fallen by 10 percentage points and stated that this was a luxury India could not afford. n++Dealing with only productivity and growth creates disaffectionn++ there is a need for a nexus with inclusive growth,n++ he added.

CII is an active member of the Business and Industry Advisory Council (BIAC) of the OECD and the B20. He hailed this as representing the centrality of industry members to more innovation and inclusivity creating a great equalizer. It would be indispensable in addressing the backlash against the pitfalls of globalization. Quoting Prime Minister Modi, he said, n++We must walk together, work together, and progress together.n++ This was not only to develop but also to deliver better policies for better lives which is the OECD motto.

Mr Suresh Prabhu, Minister for Railways, Government of India, noted the possibilities for exchange of best practices in various fields.

Mr. Rakesh Bharti Mittal, Vice President of CII, hailed the new possibilities that the MoU created for increasing Indias competitive efficiency. He added that India and OECD could collaborate for greater digital literacy. We could also adopt the OECDs gender recommendations for education and employment. Indian industry, he said, must remain resilient in the face of any crisis. He emphasized the importance of Corporate Social Responsibility in achieving the same.

Mr. Chandrajit Banerjee, Director-General CII, also noted that the MoU offers an opportunity for greater cooperation for the adoption of best practices and for joint study and research. OECD expertise could play a role in each of the 9 Centers of Excellence of the CII. He laid special emphasis on the possibilities of cooperation on Sustainable Development, Corporate Governance, and Green Businesses besides technological innovation. The aim was to go beyond the one size fits all position to create better policies.

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Balmer Lawrie & Company announces change in directorate
Mar 03,2017

Balmer Lawrie & Company announced that that:

1. Alok Chandra (DIN 06929789) ceased to be a Government Nominee Director of Balmer Lawrie & Company with effect from 10 February 2017 as per the directions of Ministry of Petroleum and Natural Gas vide letter dated 1 September 2016 consequent upon his transfer to the post of Economic Advisor in the Ministry of Railways.

2. Prashant Sitaram Lokhande (DIN 06966587) ceased to be a Government Nominee Director of Balmer Lawrie & Company with effect from 10 February 2017 as per the directions of Ministry of Petroleum and Natural Gas vide letter dated 8 September 2016 consequent upon his appointment to the post of Counsellor (Economic) in the Economic Wing, Embassy of India, Beijing, China.

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Harita Seating Systems fixes record date for 2nd interim dividend
Mar 03,2017

Harita Seating Systems has fixed the record date of 11 March 2017 for payment of second interim dividend. The dividend will be paid on or after 16 March 2017.

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Alembic Pharmaceuticals announces launch of desvenlafaxine succinate ER tablets
Mar 03,2017

Alembic Pharmaceuticals announced the launch of desvenlafaxine succinate extended release tablets 50 mg and 100 mg by its partners Breckenridge Pharmaceutical, Inc. The drug is indicate in treatment of major depressive disorder.

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