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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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Several policy initiatives as well as administrative measures taken to enhance production of oil and gas for meeting domestic demand
Dec 06,2016

Ministry of Petroleum & Natural Gas for each financial year, sign MoU (Memorandum of Understanding) with the Oil & Gas CPSEs (Central Public Sector Enterprises). Under this agreement, the CPSEs undertake to achieve the targets set in the agreement at the beginning of the year.

Government of India has taken several policy initiatives as well as administrative measures to enhance production of oil and gas in the country for meeting domestic demand. The policy initiatives can be mentioned as:

i. Policy for Relaxations, Extensions and clarifications under Production Sharing Contract (PSC) regime for early monetization of hydrocarbon Discoveries.

ii. Policy on Testing Requirements.

iii. Discovered Small Field Policy.

iv. Policy for marketing freedom for gas production from difficult areas.

v. Policy for exploration in Mining Lease Area.

vi. Hydrocarbon Exploration and Licensing Policy.

vii. Policy for Extension of Production Sharing Contracts.

viii. Shale Gas Policy etc.

Some of the administrative steps taken by the Government are:

i. Setting up of National Data Repository.

ii. Appraisal of Unappraised area in Sedimentary Basin.

iii. Streamlining of functioning of Management Committee for timely approval of Work Program and Budget in PSC regime.

iv. Re-assessment of Hydrocarbon Resources.

The Government has decided that Oil PSUs may formulate policies for import of crude oil in their best commercial interest and in accordance with the extant guidelines of the Central Vigilance Commission etc. Therefore Public Sector Oil Marketing Companies (OMCs) procure crude oil as per Crude Import Policy. Crude Oil is procured on term and spot basis from NOCs and other registered parties with OMCs. There is no restriction on import of Liquefied Natural Gas (LNG).

Under Pre-New Exploration Licensing Policy (Pre-NELP)/NELP, exploration blocks were awarded through Competitive Bidding Process for carrying out Exploration & Production activities. In various rounds of biddings held under Pre-NELP/NELP, Private/JV companies had also participated alongwith the National Oil Companies (NOCs).

Based on the experiences of implementation of NELP and to simplify contractual regimes, Government has recently announced Hydrocarbon Exploration Licensing Policy (HELP) with the objective to enhance domestic oil and gas production.

In addition to above, to enhance oil & gas production in the country and inviting private investment, a policy named as Discovered Small Field Policy has been approved by the government, envisaging auctioning of 67 small/marginal fields of ONGC and OIL through International Competitive Bidding.

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Hong Kong Stocks end higher
Dec 06,2016

The Hong Kong stock market finished session higher on Tuesday, 06 December 2016, recovering nearly triple of the previous days losses following a positive lead from European and US markets. The Hang Seng Index ended up 0.75%, or 169.60 points, to 22,675.15, while the Hang Seng China Enterprises index inclined 0.59%, or 57.05 points, to 9,768.85. Turnover decreased to HK$60.7 billion from HK$68.8 billion on Monday.

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Bank of India drops after revising MCLR rates
Dec 06,2016

The announcement was made after market hours yesterday, 5 December 2016.

Meanwhile, the S&P BSE Sensex was up 29.77 points or 0.11% at 26,378.87.

On the BSE, 2.05 lakh shares were traded in the counter so far as against average daily volume of 5.94 lakh shares in the past one quarter. The stock had hit high of Rs 118.35 and low of Rs 116.55 so far during the day.

Bank of Indias overnight marginal cost of funds based lending rate (MCLR) was fixed at 9%, one month MCLR was fixed at 9.05%, three month MCLR was fixed at 9.1%, six months MCLR was fixed at 9.15% and one year MCLR was fixed at 9.25%.

All rupee loans sanctioned and credit limits renewed with effect from 1 April 2016 are priced with reference to the MCLR which is the internal benchmark of the concerned bank. Actual lending rates are determined by adding the components of spread to the MCLR.

The Government of India held 73.72% stake in Bank of India (as per the shareholding pattern as on 30 September 2016).

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Bank of India drops after revising MCLR
Dec 06,2016

The announcement was made after market hours yesterday, 5 December 2016.

Meanwhile, the S&P BSE Sensex was up 29.77 points or 0.11% at 26,378.87.

On the BSE, 2.05 lakh shares were traded in the counter so far as against average daily volume of 5.94 lakh shares in the past one quarter. The stock had hit high of Rs 118.35 and low of Rs 116.55 so far during the day.

Bank of Indias overnight marginal cost of funds based lending rate (MCLR) was fixed at 9%, one month MCLR was fixed at 9.05%, three month MCLR was fixed at 9.1%, six months MCLR was fixed at 9.15% and one year MCLR was fixed at 9.25%.

All rupee loans sanctioned and credit limits renewed with effect from 1 April 2016 are priced with reference to the MCLR which is the internal benchmark of the concerned bank. Actual lending rates are determined by adding the components of spread to the MCLR.

The Government of India held 73.72% stake in Bank of India (as per the shareholding pattern as on 30 September 2016).

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China Stocks edge lower
Dec 06,2016

Mainland China stock market declined for second straight session on Tuesday, 06 December 2016, as investors contemplated the possible repercussions on trade from scathing comments by a top securities regulator about barbaric share acquisitions. Most sectors lost ground, while gains were only seen in defensive consumer and healthcare sectors, perceived as prominent beneficiaries of the newly launched Shenzhen-Hong Kong stock connect. The Shanghai Composite Index dropped 0.16%, to 3,199.65, while the Shenzhen Composite Index, which tracks stocks on Chinas second exchange, added 0.16% to 2,071.44. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, fell 1% to close at 2,122.26 points.

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Nikkei bounces on yen depreciation, upbeat offshore lead
Dec 06,2016

The Japan share market closed session in positive territory on Tuesday, 06 December 2016, bouncing back from Mondays losses as investors follow the lead in European and US markets overnight. Meanwhile, yen depreciation to lower 114-level against greenback also added strength to benchmark indices. Total 25 out of 33 TSE industry category on the main section gained ground, with Marine Transportation, Iron & Steel, Nonferrous Metals, Securities & Commodities Futures, Electric Power & Gas, and Insurance issues being major gainers. The 225-issue Nikkei average inclined 85.55 points, or 0.47%, to close at 18,360.54. The Topix index of all first-section issues finished up 10.24 points, or 0.7%, at 1,477.20.

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Payment above Rs 5000 to Suppliers, contractors, grantee/loanee institutions etc by Government Departments to be now made through e-Payment
Dec 06,2016

In order to attain the goal of complete digitization of Government payments, the Ministry of Finance, Government of India has again reviewed the existing limit of Rs. 10,000/-(Rs. Ten Thousand only) prescribed regarding e-payment to Suppliers etc. It has now been decided to lower this threshold limit from Rs. 10,000 to Rs. 5,000 (Rupees Five Thousand only).The last review in this regard was made only in August, 2016.

Accordingly, all the Ministries/Departments of the Government of India have been now directed by the Ministry of Finance to ensure with immediate effect that all payments above Rs. 5000 (Rupees Five Thousand only) to suppliers, contractors, grantee/loanee institutions etc. are made by issue of payment advises only.

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Strong overseas leads spur Australia stocks
Dec 06,2016

Australian share market advanced on Tuesday, 06 December 2016, snapping two straight sessions of losses, as investors appetite for risk assets underpinned on tracking gains on the offshore market overnight. With the exception of consumer staples and technology issues, every sector was up, with realty, industrials, and materials issues being notable gainers. At the closing bell, the benchmark S&P/ASX 200 index advanced 28.30 points, or 0.52%, to 5428.70, while the broader All Ordinaries index inclined 28.60 points, or 0.52%, to close at 5486.60.

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Blue Blends (India) jumps as board plans to consider fund raising
Dec 06,2016

The announcement was made during market hours today, 6 December 2016.

Meanwhile, the S&P BSE Sensex was up 66.05 points or 0.25% at 26,415.15.

More than usual volumes were witnessed on the counter. On the BSE, 48,915 shares were traded on the counter so far as against average daily volume of 16,693 shares in the past one quarter. The stock had hit a high of Rs 50 and a low of Rs 42 so far during the day.

The small-cap company has an equity capital of Rs 20.59 crore. Face value per share is Rs 10.

Blue Blends (India) is among the leading textiles manufacturers of the country.

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Valiant Communications receives product approval from Indian Navy
Dec 06,2016

Valiant Communications has recently received the product approval from Indian Navy for its product n++E1 PDH Multiplexern++.

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DCW surges after reporting strong Q2 results
Dec 06,2016

The result was announced during market hours today, 6 December 2016.

Meanwhile, the S&P BSE Sensex was up 66.05 points or 0.25% at 26,415.15.

More than usual volumes were witnessed on the counter. On the BSE, 7.39 lakh shares were traded on the counter so far as against average daily volume of 5.01 lakh shares in the past one quarter. The stock had hit a high of Rs 31.25 and a low of Rs 29 so far during the day.

The small-cap company has an equity capital of Rs 44.20 crore. Face value per share is Rs 2.

DCW is an industry pioneer with a strong presence in the chlor-alkali, synthetic rutile and PVC business segments.

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NBCC (India) provides business update
Dec 06,2016

NBCC (India) has secured total business of Rs 24694.23 crore in the month of November 2016.

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Export of Oilmeals down by 27% in April - November 2016
Dec 06,2016

The Solvent Extractors Association of India has compiled the export data for export of oilmeals for the month of November 2016. The export of oilmeals during November 2016 is reported at 108,342 tons compared to 120,059 tons. The overall export of oilmeals during April to November 2016 is reported at 662,489 tons compared to 903,624 tons during the same period of last year i.e. down by 27% due to lesser availability of oilseeds for crushing and continuous disparity in exporting soybean meal in International Market.

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Ballarpur Industries slips after net loss widens in Q2
Dec 06,2016

The result was announced before market hours today, 6 December 2016.

Meanwhile, the S&P BSE Sensex was up 113.29 points or 0.51% at 26,486.08.

On the BSE, 2.78 lakh shares were traded on the counter so far as against average daily volume of 5.84 lakh shares in the past one quarter. The stock had hit a high of Rs 16.05 and a low of Rs 15.10 so far during the day.

The small-cap company has an equity capital of Rs 131.10 crore. Face value per share is Rs 2.

Ballarpur Industries net total income from operations fell 56.56% to Rs 461.76 crore in Q2 September 2016 over Q2 September 2015.

The Ballarpur Group is the largest manufacturer of writing and printing paper in India.

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Venkys (India) slumps after reporting weak Q2 results
Dec 06,2016

The result was announced during market hours today, 6 December 2016.

Meanwhile, the BSE Sensex was up 100.44 points, or 0.38%, to 26,449.54.

More than usual volumes were witnessed on the counter. On the BSE, 30,088 shares were traded in the counter so far, compared with an average volume of 14,689 shares in the past one quarter. The stock had hit a high of Rs 501 and a low of Rs 460.15 so far during the day.

The small-cap company has an equity capital of Rs 14.09 crore. Face value per share is Rs 10.

The VH Group, known the world over as Venkys. is the largest fully integrated poultry group in Asia.

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