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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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Maruti Suzuki India announces sales figures
Mar 01,2017

Maruti Suzuki India reported total sales of 130280 units in February 2017 compared to 117451 units in February 2016, recording a growth of 10.9%.

Total sales includes domestic sales of 120735 units and export of 9545 units in February 2017, recording a growth of 11.7% and 2.2% respectively over February 2016.

For the period April- February 2017, total sales stood at 1428840 units, higher by 9.9% over the corresponding period of previous year.

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D-Link gains after subsidiary enters into pact with D-link Corp
Mar 01,2017

The announcement was made after market hours yesterday, 28 February 2017.

Meanwhile, the BSE Sensex was up 229.44 points, or 0.80%, to 28,970.46.

On the BSE, 8,081 shares were traded in the counter so far, compared with average daily volumes of 1.72 lakh shares in the past one quarter. The stock had hit a high of Rs 128 and a low of Rs 124.40 so far during the day. The stock had hit a 52-week high of Rs 141 on 8 March 2016. The stock had hit a 52-week low of Rs 75.25 on 21 September 2016.

The stock had underperformed the market over the past one month till 28 February 2017, sliding 1.36% compared with 3.09% gains in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 47% as against Sensexs 9.08% rise.

The small-cap company has equity capital of Rs 7.10 crore. Face value per share is Rs 2.

D-Link Corp, promoter of D-Link India and TeamF1 Networks (TeamF1), a subsidiary of D-Link India announced their partnership in delivering mydlink Business, a cloud-based device management platform featuring ease, value, and scalability for small and medium-sized businesses (SMB). TeamF1 Networks is a leader in embedded networking and security software solutions for wired and wireless applications.

The business cloud platform is specifically designed to suit the operation and workflow models of system integrators (SI), value-added resellers (VAR), and telcos/ISPs.

Mydlink Business and DBA-1210P are available for sampling in May 2017 and scheduled to be generally available in the beginning of Q3 December 2017, it added.

D-Link Indias net profit rose 27.8% to Rs 9.10 crore on 7.48% decline in net sales to Rs 186.69 crore in Q3 December 2016 over Q2 September 2016.

D-Link India is engaged in the design, manufacture and marketing of advanced networking, broadband, digital, voice and data communications solutions.

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Amtek Auto to hold EGM
Mar 01,2017

Amtek Auto announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 25 March 2017.

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Future Lifestyle Fashions to hold EGM
Mar 01,2017

Future Lifestyle Fashions announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 24 March 2017.

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Metalyst Forgings to hold EGM
Mar 01,2017

Metalyst Forgings announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 23 March 2017.

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Moodys rated J&Js notes Aaa; stable outlook
Mar 01,2017

Moodys Investors Service (Moodys) assigned a rating of Aaa to the new senior unsecured note offering of Johnson & Johnson (J&J). There are no changes to J&Js existing ratings including the Aaa senior unsecured rating and the Prime-1 short-term rating. The rating outlook is stable.

Proceeds of the note offering are for general corporate purposes including debt repayment.

Ratings assigned:

Senior unsecured shelf registration at P(Aaa)

Senior unsecured notes in multiple tranches at Aaa

RATINGS RATIONALE

J&Js Aaa rating reflects the companys large scale and market presence, its excellent product and geographic diversity, and its strong profit margins. New approvals and drugs launched in the past few years in the pharmaceutical segment now represent the foundation and driver of near-term growth for J&J as a whole. Over time, Moodys anticipates a greater balance of growth between pharmaceuticals and J&Js Medical Devices and Consumer Products segments. Based on J&Js long-held conservative financial policies, Moodys expects continuation of robust credit metrics including debt/EBITDA at or around 1.25 times, while also maintaining high levels of cash. Offsetting these strengths, J&J faces slow growth in economically-sensitive product areas, challenging macroeconomic and regulatory conditions and litigation risks. Growth in the pharmaceutical business will decelerate with several patent expirations and the recent launch of a Remicade biosimilar, but the Actelion deal will help J&J maintain solid momentum in pharmaceuticals.

The rating outlook is stable, reflecting Moodys expectations for solid operating performance and the benefits of excellent diversity. The stable outlook also reflects Moodys expectation that J&J will manage conservative financial policies including high cash levels.

Factors that could lead to a downgrade include material debt-financed acquisitions or share repurchases, divestitures of major business divisions, significant product quality issues, recalls, or litigation. In addition, Moodys could downgrade the ratings if J&J alters its financial policies such that debt/EBITDA is sustained materially above 1.25 times or CFO/debt below 60% in the absence of a significant increase in cash holdings.

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Premco Global to hold EGM
Mar 01,2017

Premco Global announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 25 March 2017.

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Castex Technologies to hold EGM
Mar 01,2017

Castex Technologies announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 25 March 2017.

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Eastern Gases to hold EGM
Mar 01,2017

Eastern Gases announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 30 March 2017.

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HDFC to hold board meeting
Mar 01,2017

HDFC will hold a meeting of the Board of Directors of the Company on 3 March 2017, to consider and approve payment of interim dividend, if any, on the equity shares of the Corporation for the financial year ending March 31, 2017.

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Thomas Cook advances on conceptualizing a holiday plan
Mar 01,2017

The announcement was made after market hours yesterday, 28 February 2017.

Meanwhile, the S&P BSE Sensex was up 222.84 points or 0.78% at 28,966.16.

On the BSE, 1,266 shares were traded on the counter so far as against the average daily volumes of 32,750 shares in the past one quarter. The stock had hit a high of Rs 192.90 and a low of Rs 190.25 so far during the day.

The stock had hit a 52-week high of Rs 228.80 on 4 July 2016 and a 52-week low of Rs 165.60 on 19 May 2016. It had underperformed the market over the past one month till 28 February 2017, sliding 1.38% compared with the Sensexs 3.09% rise. The scrip had also underperformed the market over the past one quarter, declining 0.87% as against the Sensexs 9.08% rise.

The mid-cap company has equity capital of Rs 36.67 crore. Face value per share is Rs 1.

Thomas Cook (India) in a strategic initiative to expand Indias travel market, has conceptualized a unique annual property, n++The Grand Indian Holiday Salen++, carefully timed to coincide with the peak booking window for summer vacations- Indias largest holiday season.

The focused intent to catalyse holiday demand is delivered via a range of specially curated offers and discounts targeting Indias quintessential value seeker. With this annual property, Thomas Cook (India) seeks to make holidays affordable for every Indian and its tag line reads, n++Ab Poora India Ghommega!n++

This intense 10 day sale offers Indias travellers a range of attractive deals and discounts on both domestic and international bookings, covering flights, hotels and holiday packages. To capture its diversity of customers, digitally native and retail, and ensure convenience and easy access, n++The Grand Indian Holiday Salen++, is available across Thomas Cook (India)s omnichannel network - its online platforms (mobile & website), call centers & extensive offline outlets.

On a consolidated basis, Thomas Cook (India)s reported net profit of Rs 1.91 crore in Q3 December 2016 as against net loss of Rs 3.97 crore in Q3 December 2015. Net sales rose 40.8% to Rs 1910.73 crore in Q3 December 2016 over Q3 December 2015.

Thomas Cook (India) is an integrated travel and travel related financial services company in the country offering a broad spectrum of services that include foreign exchange, corporate travel, MICE, leisure travel, insurance, visa & passport services and e-business.

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Majesco gains after subsidiary launches two new solutions
Mar 01,2017

The announcement was made after market hours yesterday, 28 February 2017.

Meanwhile, the S&P BSE Sensex was up 224.48 points or 0.78% at 28,967.80.

On the BSE, 6,088 shares were traded in the counter so far as against average daily volume of 13,583 shares in the past one quarter. The stock had hit a high of Rs 359.70 and a low of Rs 346.50 so far during the day. The stock had hit a 52-week high of Rs 650 on 21 April 2016. The stock had hit a 52-week low of Rs 331 on 15 February 2017.

The stock had underperformed the market over the past one month till 28 February 2017, sliding 10.67% compared with 3.09% gains in the Sensex. The scrip had also underperformed the market in past one quarter, declining 13.65% as against Sensexs 9.08% rise.

The small-cap company has equity capital of Rs 11.62 crore. Face value per share is Rs 5.

Majesco said that Majesco, USA, the Insurance arm and a subsidiary of Majesco, launched two new solutions, Majesco Enterprise Data Model and Majesco Enterprise Data Warehouse.

These solutions along with Majesco Data Services and Majesco Business Analytics, provide a framework and assets to create a path for insurers to accelerate their data mastery maturity to achieve business differentiation and optimization through data.

Majescos consolidated net profit rose 2.68% to Rs 5.07 crore on 2.3% decline in net sales to Rs 202.26 crore in Q3 December 2016 over Q2 September 2016.

Majesco enables insurance business transformation for insurance customers worldwide by providing solutions which include software, consulting and services.

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Fitch: Proportion of Higher Ratings Well Below Pre-Crisis Level
Mar 01,2017

The proportion of A- and higher ratings in Fitchs global portfolio of sovereigns, corporates and banks remains well below the pre financial-crisis level and could fall further over the next couple of years as the balance of ratings outlooks has deteriorated, Fitch Ratings says.

Our sovereign portfolio has recorded some of the biggest moves, with the proportion of AAA sovereigns dropping to 10% at the end of 2016, its lowest-ever level. Around 36% of the portfolio is rated in the A to AAA categories, down from 48% at the end of 2006 while 27% is rated B+ or below, compared to 20% in 2006.

The fall in the number of high investment grade ratings largely reflects the lingering effects of the global financial crisis, when government debt in several advanced economies increased significantly. We believe high government debt levels will persist for some time based on growth, interest rate and primary balance projections.

Our sovereign ratings also have the greatest share of negative outlooks on a net basis, at 21%. This suggests downgrades could outnumber upgrades by a wide margin. Pressures include a stronger US dollar, which is challenging for many emerging-market borrowers. Rising trade protectionism and economic nationalism could also hurt growth and boost inflation.

The proportion of corporate ratings in the A to AAA categories has dropped to 20% from 30% over the last decade, but unlike sovereigns the proportion rated B+ and below has only ticked up by 1 percentage point. Instead ratings have become increasingly compressed in the BB and BBB categories.

The downward shift reflects a mix of longer term and cyclical trends, as well as a willingness by companies to run at higher debt levels in an era of historically low borrowing costs. Longer term, utilities and telecoms have been affected by changes in the energy mix and technology landscape. While these trends have stabilised, they show no evidence of reversing.

For other sectors such as autos and natural resources there is more potential for ratings to rise. Autos are well on the path to recovery after severe weakness around the time of the global financial crisis. Oil, iron ore and steel companies are beginning to see slow improvement as rising demand and rationalisation reduces commodity overcapacity.

Financial institutions, which have historically had a bigger share of high investment grade ratings, have seen the proportion of A to AAA category ratings slip to 39% from 53%. While ratings overall remain below pre-crisis levels, many financial institutions credit profiles have strengthened since the end of 2013 as banks increase capital and liquidity buffers to meet tougher standards. However, low interest rates and reduced sovereign support have also had a negative impact.

The trend seems set to worsen, as a net 11% of financial institution ratings outlooks were negative at end-2016, driven largely by outlooks on emerging-market banks, which themselves often reflect the outlooks of their sovereign.

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Indiabulls Real Estate gains after receiving NOC for a project
Mar 01,2017

The announcement was made after market hours yesterday, 28 February 2017.

Meanwhile, the S&P BSE Sensex was up 221.05 points or 0.77% at 28,964.37.

On the BSE, 1.79 lakh shares were traded on the counter so far as against the average daily volumes of 8.45 lakh shares in the past one quarter. The stock had hit a high of Rs 82.40 and a low of Rs 81.35 so far during the day.

The stock had hit a 52-week high of Rs 105.25 on 30 May 2016 and a 52-week low of Rs 45.05 on 29 February 2016. It had underperformed the market over the past one month till 28 February 2017, gaining 2.42% compared with the Sensexs 3.09% rise. The scrip had, however, outperformed the market over the past one quarter, advancing 17.68% as against the Sensexs 9.08% rise.

The mid-cap company has equity capital of Rs 98.33 crore. Face value per share is Rs 2.

Indiabulls Real Estate announced that through a letter received on 27 February 2017, the company has been informed that the relevant authorities have granted a height no objection certificate (NOC) for 163 meters Sky Suites project.

Given the height NOC received for Sky Suites which is 163 meters from the Airport Authority of India, this is expected to have a bearing on the total area that can be built on the project which the company will be able to quantity after detailed workings with consultants and authorities.

On a consolidated basis, Indiabulls Real Estates net profit fell 13.7% to Rs 58.58 crore on 58.8% decline in net sales to Rs 291.21 crore in Q3 December 2016 over Q3 December 2015.

Indiabulls Real Estate is a real estate development company with development projects spread across office and commercial complexes, premium residential developments, mega townships, retail spaces, hotel and resorts, special economic zones and infrastructure development.

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Surya Roshni gains after plans to start production at steel pipe plant
Mar 01,2017

The announcement was made after market hours yesterday, 28 February 2017.

Meanwhile, the BSE Sensex was up 124.54 points, or 0.43%, to 28,867.86.

On the BSE, 14,104 shares were traded in the counter so far, compared with average daily volume of 39,320 shares in the past one quarter. The stock had hit a high of Rs 194.55 and a low of Rs 189.55 so far during the day. The stock had hit a record high of Rs 245.70 on 20 October 2016. The stock had hit a 52-week low of Rs 119 on 29 February 2016.

Surya Roshni said that commercial production at the companys newly set-up steel pipe plant at Hindupur Dist. Ananthapuramu, Andhra Pradesh for manufacturing of electric resistance welding (ERW) black and GI pipes with an installed capacity of 90,000 metric tonne per annum to commence from 1 March 2017.

With the start of operations at Hindupur plant, the company will achieve savings in logistic cost and further leveraging its presence in the premium market of South India resulting into creation of a larger and stronger steel pipes business with economies of scale.

Being a plant set-up at notified backward area in Andhra Pradesh, the company is eligible for deduction under section 32AC & 32AD of the Income Tax Act, 1961, it added.

Surya Roshni has emerged as a vast conglomerate by being the largest in the steel segment and second largest in the realm of lighting. Surya has ventured into various other latitudes of business like fans, cold rolled strips and PVC pipes etc.

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