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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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Dewan Housing Finance Corporation to hold AGM
May 04,2017

Dewan Housing Finance Corporation announced that the 33rd Annual General Meeting (AGM) of the company will be held on 21 July 2017.

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Board of JM Financial recommends final dividend
May 04,2017

JM Financial announced that the Board of Directors of the Company at its meeting held on 2 May 2017, inter alia, have recommended the final dividend of Rs 0.85 per equity Share (i.e. 85%) , subject to the approval of the shareholders.

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Shriram City Union Finance to hold AGM
May 04,2017

Shriram City Union Finance announced that the 36th Annual General Meeting (AGM) of the company will be held on 30 June 2017.

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Sequent Scientific to hold board meeting
May 04,2017

Sequent Scientific will hold a meeting of the Board of Directors of the Company on 23 May 2017, to consider the audited financial results of the Company for the year ended 31 March 2017.

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Sundaram Brake Linings to hold board meeting
May 04,2017

Sundaram Brake Linings will hold a meeting of the Board of Directors of the Company on 29 May 2017.

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Deccan Cements hardens on stock-split plan
May 04,2017

The announcement was made after market hours yesterday, 3 May 2017.

Meanwhile, the BSE Sensex was up 226.22 points, or 0.76%, to 30,121.02. The S&P BSE Small-Cap index was up 56.57 points or 0.37% at 15,487.53.

On BSE, so far 487 shares were traded in the counter, compared with an average volume of 1,116 shares in the past one quarter. The stock hit a high of Rs 1,260 and a low of Rs 1,235.10 so far during the day. The stock hit a record high of Rs 1,279.90 on 28 April 2017. The stock hit a 52-week low of Rs 666 on 4 May 2016.

The small-cap company has an equity capital of Rs 7 crore. Face value per share is Rs 10.

Deccan Cements net profit jumped 76.32% to Rs 11.02 crore on 3.83% rise in total income to Rs 130.73 crore in Q3 December 2016 over Q3 December 2015.

Deccan Cements, with a 2.3 million tones per annum plant, is a major producer of cement in South India, having been in the business of manufacturing and marketing of cement for over three decades.

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IBBI constitutes Technical Committee to lay down Technical Standards for performance of core services and other services under IBBI Regulations 2017
May 04,2017

The Insolvency and Bankruptcy Board of India (IBBI) has constituted a Technical Committee in accordance with Regulation 14 of the IBBI (Information Utilities) Regulations, 2017.

The Committee shall give its recommendation for laying down Technical Standards for the performance of core services and other services under Insolvency and Bankruptcy Board of India (Information Utilities) Regulations, 2017 and specifically on the following matters, namely:

(a) the Application Programming Interface;

(b) standard terms of service;

(c) registration of users;

(d) unique identifier for each record and each user;

(e) submission of information;

(f) identification and verification of persons;

(g) authentication of information;

(h) verification of information;

(i) data integrity;

(j) consent framework for providing access to information to third parties;

(k) security of the system;

(l) security of information;

(m) risk management framework;

(n) porting of information;

(o) exchange or transfer of information between information utilities;

(p) inter-operability among information utilities;

(q) preservation of information; and

(r) purging of information.

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Board of R Systems International allots equity shares under ESOP
May 04,2017

R Systems International announced that the Board of Directors of the company at its meeting held on 04 May 2017 has approved allotment of 82,500 equity shares under ESOS.

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Frontier Informatics fixes record date for scheme of arrangement (capital reduction)
May 04,2017

Frontier Informatics announced that the Board of Directors of the Company at its meeting held on 04 May 2017 has fixed 15 May 2017 as record date for issue of new shares in the place of existing reduced and consolidated capital in accordance with the scheme of arrangement (capital reduction) approved by the Honble High Court of Telangana and Andhra Pradesh.

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Cabinet approves New Central Sector Scheme - SAMPADA (Scheme For Agro-Marine Processing And Development Of Agro-Processing Clusters)
May 04,2017

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi has given its approval for re-structuring the schemes of the Ministry of Food Processing Industries (MoFPI) under new Central Sector Scheme - SAMPADA (Scheme for Agro-Marine Processing and Development of Agro-Processing Clusters) for the period 2016-20 coterminous with the 14th Finance Commission cycle.

SAMPADA with an allocation of Rs. 6,000 crore is expected to leverage investment of Rs. 31,400 crore, handling of 334 lakh MT agro-produce valuing Rs. 1,04,125 crore, benefit 20 lakh farmers and generate 5,30,500 direct/ indirect employment in the country by the year 2019-20.

The objective of SAMPADA is to supplement agriculture, modernize processing and decrease agri-waste.

SAMPADA is an umbrella scheme incorporating ongoing schemes of the Ministry like Mega Food Parks, Integrated Cold Chain and Value Addition Infrastructure, Food Safety and Quality Assurance Infrastructure, etc. and also new schemes like Infrastructure for Agro-processing Clusters, Creation of Backward and Forward Linkages, Creation / Expansion of Food Processing & Preservation Capacities.

The SAMPADA is a comprehensive package to give a renewed thrust to the food processing sector in the country. It includes new schemes of Infrastructure for Agro-processing Clusters, Creation of Backward and Forward Linkages and Creation / Expansion of Food Processing & Preservation Capacities aim at development of modern infrastructure to encourage entrepreneurs to set up food processing units based on cluster approach, provide effective and seamless backward and forward integration for processed food industry by plugging gaps in supply chain and creation of processing and preservation capacities and modernization/ expansion of existing food processing units.

The implementation of SAMPADA will result in creation of modern infrastructure with efficient supply chain management from farm gate to retail outlet. It will not only provide a big boost to the growth of food processing sector in the country but also help in providing better prices to farmers and is a big step towards doubling of farmers income. It will create huge employment opportunities especially in the rural areas. It will also help in reducing wastage of agricultural produce, increasing the processing level, availability of safe and convenient processed foods at affordable price to consumers and enhancing the export of the processed foods.

Background:

Food Processing Sector has emerged as an important segment of the Indian economy in terms of its contribution to GDP, employment and investment. During 2015-16, the sector constituted as much as 9.1 and 8.6 per cent of GVA in Manufacturing and Agriculture sector respectively.

The manifesto of NDA Government stresses upon incentivizing the setting up of food processing industry for providing better income for the farmers and creating jobs.

Various measures have been taken by the government to give a boost to the food processing sector. With these measures food processing sector has grown at 7 per cent. In order to arrest post-harvest losses of horticulture & non-horticulture produce, the Ministry has accorded approval to 42 Mega Food Parks and 236 Integrated Cold Chains for creation of modern infrastructure for the food processing along the value chain from the farm to the market. Out of 42 Mega Food Parks, 8 are operational. Of this, 6 Mega Food Parks have been made operational during the last 3 years. Another 4 Mega Food Parks are targeted for operationalization in next three months. Similarly, out of 236 Cold Chains, 101 Cold Chains have been sanctioned recently in March, 2017. 100 Cold Chains have become operational. Of which, 63 Cold Chains have been made operational during last 3 years.

Government has taken various other measures to boost food processing sector as follows:

(a) To provide impetus to investment in food processing and retail sector, govt. has allowed 100% FDI in trading including through e-commerce, in respect of food products manufactured and / or produced in India. This will benefit farmers immensely and will create back - end infrastructure and significant employment opportunities.

(b) The govt. has also set up a Special Fund of Rs. 2000 crore in NABARD to make available affordable credit at concessional rate of interest to designated food parks and agro processing units in the designated food parks.

(c) Food and agro-based processing units and cold chain infrastructure have been brought under the ambit of Priority Sector Lending (PSL) to provide additional credit for food processing activities and infrastructure thereby, boosting food processing, reducing wastage, create employment and increasing farmers income.

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Maruti Suzuki announced production figures
May 04,2017

Maruti Suzuki India announced that production stood at 133,457 units in month of April 2017 compared to 125,186 units in April 2016.

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Tata Power Company launches Chatbot
May 04,2017

Tata Power Company announced the launch of Chatbot for enhancing customer service. Chatbot will allow customers to get their queries answered via Chat on Tata Power Mobile App, Tata Power consumer portal as well as Tata Power Facebook messenger. With this solution, Tata Power is looking at drastically reducing the response time to the customers queries to within few seconds and being available to the customer 24*7 in Mumbai.

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Merck in pink of health after strong Q1 show
May 04,2017

The result was announced after market hours yesterday, 3 May 2017.

Meanwhile, the S&P BSE Sensex was up 154.62 points or 0.52% at 30,049.42. The S&P BSE Small-Cap index was up 36.23 points or 0.23% at 15,467.19.

On BSE, so far 19,000 shares were traded in the counter as against average daily volume of 6,184 shares in the past one quarter. The stock hit a high of Rs 1,140 and a low of Rs 1,105 so far during the day. The stock had hit a record high of Rs 1,198.90 on 10 April 2017. The stock had hit a 52-week low of Rs 665 on 4 May 2016.

The small-cap company has equity capital of Rs 16.60 crore. Face value per share is Rs 10.

Merck (formerly E Merck) operates both its pharmaceuticals and chemicals businesses in the country.

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Cabinet approves initiation of the process of disinvestment of ITDC properties
May 04,2017

The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi has approved the initiation of the process of disinvestment of hotels/properties of the India Tourism Development Corporation Ltd. (ITDC). The decision on disinvestment has been made, keeping in view that running and managing hotels on professional lines is not the work of the Government or its entities. Further, there has been considerable development in the hospitality sector in the country in past years, with world class hotels and all leading international chains of hotels present in the country and providing services and facilities of highest standards.

As part of the disinvestment policy, it has been decided to lease/sub-lease the hotels / properties jointly with the concerned States or return the properties to the States, after fair valuation. The States would then have the option to upgrade and operate the Hotels by involving the private sector or to utilize the properties as per their requirements. States have exercised their options accordingly, in each case going forward with the option best suited to their needs, in line with the overarching principle that it is not the business of Government to run or manage hotels.

In the first stage of the disinvestment process, three hotels listed below have been taken up for disinvestment:

(i) Hotel Lake View Ashok, Bhopal

(ii) Hotel Brahmaputra Ashok, Guwahati

(iii) Hotel Bharatpur Ashok, Bharatpur.

In all three cases, the hotels / properties are being given back to the concerned States. In the case of Bhopal and Guwahati, ITDC is divesting its share of 51% in the Joint Venture Company formed for operation of the hotels whereas in the case of Bharatpur, the unit which was only managed by ITDC is being returned to the State Government.

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Larsen & Tourbo Infotech launhces new brand identity LTI
May 04,2017

Larsen & Toubro Infotech launched its new brand identity as LTI. Encapsulated in the tagline Lets Solve, LTI looks to partnering with clients to help them compete better in a world where digital and physical are converging. The core idea of the brand, Pioneering Solutions in a Converging World drives entire organisation to design, innovate and invest in solutions that help clients accelerate digital transformation.

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