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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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Manappuram Finance to hold board meeting
Apr 26,2017

Manappuram Finance will hold a meeting of the Board of Directors of the Company on 25 May 2017.

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Can Fin Homes to hold AGM
Apr 26,2017

Can Fin Homes announced that the 30th Annual General Meeting (AGM) of the company will be held on 28 June 2017.

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Board of Can Fin Homes recommends final dividend
Apr 26,2017

Can Fin Homes announced that the Board of Directors of the Company at its meeting held on 25 April 2017, inter alia, have recommended the final dividend of Rs 10 per equity Share (i.e. 100%) , subject to the approval of the shareholders.

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Board of Persistent Systems recommends final dividend
Apr 26,2017

Persistent Systems announced that the Board of Directors of the Company at its meeting held on 24 April 2017, inter alia, have recommended the final dividend of Rs 3 per equity Share (i.e. 30%) , subject to the approval of the shareholders.

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Board of Nucleus Software Exports recommends final dividend
Apr 26,2017

Nucleus Software Exports announced that the Board of Directors of the Company at its meeting held on 25 April 2017, inter alia, have recommended the final dividend of Rs 5 per equity Share (i.e. 50%) , subject to the approval of the shareholders.

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Kolte-Patil strengthens after signing redevelopment project
Apr 26,2017

The announcement was made during market hours today, 26 April 2017.

Meanwhile, the S&P BSE Sensex was up 172.53 points, or 0.58%, to 30,118.01. The S&P BSE Small-Cap index was up 62.66 points, or 0.41%, to 15,442.55.

On BSE, so far 21,551 shares were traded in the counter, compared with an average volume of 1.33 lakh shares in the past one quarter. The stock had hit a high of Rs 197.70 and a low of Rs 186.20 so far during the day.

The stock had hit a 52-week high of Rs 198.85 on 30 March 2017. The stock had hit a 52-week low of Rs 78.75 on 27 December 2016.

It had outperformed the market over the past one month till 25 April 2017, surging 17.87% compared with the Sensexs 1.77% rise. The scrip had also outperformed the market over the past one quarter, jumping 98.28% as against the Sensexs 8.07% rise.

The small-cap firm has an equity capital of Rs 75.77 crore. Face value per share is Rs 10.

Kolte-Patil Developers has strengthened its Mumbai presence by signing its largest private society redevelopment project till date, Dahisar 5hree Avadhoot Co-operative Housing Society, having a plot area of 15,035 square meters.

Kolte-Patils economic interest in this project is 4 lakh square feet. Payments of the corpus fund, rental and other project expenses are linked to the approvals and project timelines.

The project has a strategic location in Dahisar East being well-connected to the Western Express Highway. Further adding to the attractiveness of the location is its close proximity to the under construction Metro VII project from Andheri East to Dahisar East, which has been recently extended to the Mumbai airport in the south and Mira-Bhayander in the North,

Commenting on this key development, Gopal Sarda, CEO, Kolte-Patil Developers said that focus in Mumbai is on generating strong return on capital employed (ROCE) and reducing working capital cycle. The company has a diversified portfolio at strategic locations, and all projects are of an optimal size enabling quick turnover.

The Mumbai foray will facilitate profit expansion and reduce working capital cycle while providing synergies to the existing Pune operations, he added.

Kolte-Patil Developers consolidated net profit rose 30.4% to Rs 18.09 crore on 27% rise in net sales to Rs 225.99 crore in Q3 December 2016 over Q3 December 2015.

Kolte-Patil Developers is Punes largest developer. It is also present in Mumbai with some upscale redevelopment projects. The company has till date built projects in multiple segments such as residential, commercial, retail, IT parks, and integrated townships.

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Agriculture: Doubling Farmers Incomes by 2022-NITI Aayog
Apr 26,2017

In May 2016, the Prime Ministers Office advised the NITI Aayog, its premier, independent think tank, to prepare a Fifteen Year Vision, Seven Year Strategy and Three Year Action Agenda. The Fifteen Year Vision and Seven Year Strategy document spanning 2017-18 to 2031-32 is in progress. The Action Agenda covers the period from 2017-18 to 2019-20, the last years of the Fourteenth Finance Commission.

How does the Vision, Strategy and Action Agenda exercise differ from the Five Year Plan process?

The 12th Five Year Plan was the last of the Five Year Plans. With an increasingly open and liberalized economy and given the new realities of the global economy, we needed to rethink the tools and approaches to conceptualizing the development process. The Vision, Strategy and Action Agenda framework will allow us to better align the development strategy with the changed reality of India.

An Overview of the Three Year Action Agenda

In preparing the Agenda, the NITI Aayog sought and received inputs from State Governments, Union Territories and Ministries of the Central Government. Extensive consultations were held with groups of scientists, economists, journalists, voluntary organizations, industry associations and experts in education, health, culture, transport and other fields. Numerous experts and institutions provided useful written inputs.

The Draft Agenda was circulated to NITI Aayogs Governing Council Members on April 23, 2016. It contains ambitious yet achievable proposals to achieve far-reaching changes in Indias economy. Where relevant, we have included possible actions by the states to complement the Centres efforts. The document has 7 parts with 24 chapters.

Selected Key Action Agenda Items

Three Year Revenue and Expenditure Framework:

n++ A tentative medium-term expenditure framework (MTEF) for the Centre is proposed. Based on forecasts of revenue, it proposes sector-wise expenditure allocation for three years.

n++ Proposes reduction of the fiscal deficit to 3% of the GDP by 2018-19, and the revenue deficit to 0.9% of the GDP by 2019-20.

n++ The roadmap consisting of shifting additional revenues towards high priority sectors: health, education, agriculture, rural development, defence, railways, roads and other categories of capital expenditure.

Agriculture: Doubling Farmers Incomes by 2022

n++ Reform the Agricultural Produce Marketing to ensure that farmers receive remunerative prices.

n++ Raise productivity through enhanced irrigation, faster seed replacement and precision agriculture.

n++ Shift to high value commodities: horticulture, animal husbandry, fisheries.

n++ A separate detailed roadmap issued by Member, Professor Ramesh Chand

Industry and Services: Job Creation n++ Overarching Action Points

n++ Create Coastal Employment Zones to boost exports and generate high-productivity jobs.

n++ Enhance labour-market flexibility through reforming key laws

n++ Address the high and rising share of Non-Performing Assets (NPAs) in Indias banks through supporting the auction of larger assets to private asset reconstruction companies (ARCs), and strengthening the State Bank of India-led ARC.

n++ Action points for specific sectors

n++ Apparel

n++ Leather and footwear

n++ Electronics

n++ Food processing

n++ Gems and jewelry

n++ Tourism

n++ Finance

n++ Real estate.

Urban Development

n++ Need to bring down land prices to make housing affordable through increased supply of urban land

1. More flexible conversion rules from one use to another

2. Release of land held by sick units

3. Release of other urban land potentially available

4. More generous Floor Space Index.

n++ Reform the Rent Control Act along the lines of Model Tenancy Act;

n++ Initiate titles of urban property

n++ Promote dormitory housing

n++ Address issues related to city transportation infrastructure and waste management.

Regional strategies

n++ Actions targeted aimed at improving development outcomes in the (i) North Eastern Region, (ii) Coastal Areas & Islands, (iii) North Himalayan states and (iv) Desert and Drought prone states.

Transport and Digital Connectivity

n++ Strengthen infrastructure in roadways, railways, shipping & ports, inland waterways and civil aviation.

n++ Ensure last-mile digital connectivity, particularly for e-governance and financial inclusion, through developing infrastructure, simplifying the payments structure and improving literacy.

n++ Facilitate Public-Private Partnerships.by reorienting the role of the India Infrastructure Finance Company Ltd. (IIFCL), introducing low cost debt instruments and operationalizing the National Investment Infrastructure Fund (NIIF).

Energy

n++ Adopt consumer friendly measures such as provision of electricity to all households by 2022, LPG connection to all BPL households, elimination of black carbon by 2022, and extension of the city gas distribution programme to 100 smart cities.

n++ Reduce the cross-subsidy in the power sector to ensure competitive supply of electricity to industry.

n++ Reform the coal sector by setting up a regulator, encouraging commercial mining and improving labour productivity.

Science & Technology

n++ Create comprehensive database of all government schemes and evaluate them for desirable changes

n++ Develop guidelines for PPPs in S&T to improve education and industry-academia linkages for demand-driven research

n++ Channel S&T to address development challenges such as access to education, improving agricultural productivity and wastewater management.

n++ Create a n++National Science, Technology & Innovation Foundationn++ to identify and deliberate national issues, recommend priority interventions in S&T and prepare frameworks for their implementation

n++ Streamline the administration of the patent regime

Governance

n++ Re-calibrate the role of the government by shrinking its involvement in activities that do not serve a public purpose and expanding its role in areas that necessarily require public provision

n++ Implement the roadmap on closing select loss-making PSEs and strategic disinvestment of 20 identified CPSEs.

n++ Expand the governments role in public health and quality education.

n++ Strengthen the civil services through better human resource management, e-governance, addressing anomalies in tenures of secretaries and increasing specialization and lateral entry.

Taxation and Regulation

n++ Tackle tax evasion, expand the tax base and simplify the tax system through reforms. For example, consolidate existing custom duty rates to a unified rate.

n++ Create an institutional mechanism for promoting competition through comprehensive review and reform of government regulations across all sectors.

n++ Strengthen public procurement

The Rule of Law

n++ Undertake significant judicial system reforms including increased ICT use, structured performance evaluation and reduced judicial workload.

n++ Legislative, administrative and operational reforms of police are suggested to the states.

Education and Skill Development

n++ Shift the emphasis on the quality of school education paying particular attention to foundational learning

n++ Move away from input-based to outcome-based assessments

n++ Rank outcomes across jurisdictions

n++ Use ICT judiciously to align teaching to the students level and pace

n++ Revisit the policy of automatic promotion up to eighth grade

n++

Praj Industries allots 59,160 equity shares
Apr 26,2017

Praj Industries has allotted 59,160 equity shares under ESOP on 26 April 2017. Consequently, the total issued share capital has increased to 179,503,348 equity shares of Rs 2 each to Rs 35.90 crore.

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Tata Communications announces appointment of Chairperson
Apr 26,2017

Tata Communications announced the appointment of Renuka Ramnath as the new Chairperson of the Board of Directors and the successor to Subodh Bhargava.

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ICICI Prudential drops from record high
Apr 26,2017

Meanwhile, the S&P BSE Sensex was up 141.86 points or 0.47% at 30,085.10.

On the BSE, 82,000 shares were traded on the counter so far as against the average daily volumes of 1.56 lakh shares in the past one quarter. The stock had hit a high of Rs 423.35 so far during the day, which is a record high. The stock hit a low of Rs 409.05 so far during the day.

The stock had hit a record low of Rs 273.65 on 9 November 2016. It had outperformed the market over the past one month till 25 April 2017, surging 12.04% compared with the Sensexs 1.77% rise. The scrip had also outperformed the market over the past one quarter, gaining 18.38% as against the Sensexs 8.07% rise.

The large-cap company has equity capital of Rs 1435.35 crore. Face value per share is Rs 10.

On consolidated basis, ICICI Prudential Life Insurance Companys net profit rose 1.31% to Rs 408.24 crore on 122.31% growth in total income to Rs 14117.14 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 25 April 2017.

ICICI Prudential Life Insurance Companys board recommended a final dividend of Rs 3.50 per share for the year ended March 2017.

ICICI Prudential Life Insurance Company is the largest private sector life insurer in India. ICICI Prudential is a joint venture between ICICI Bank and Prudential Corporation Holdings, a part of the Prudential Group, an international financial services group. The company is one of the first private sector life insurance companies in India. It commenced operations in October 2000 and offers a range of life insurance, health insurance and pension products and services.

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Kolte-Patil Developers signs its largest private society redevelopment project
Apr 26,2017

Kolte Patil Developers has strengthened its Mumbai presence by signing its largest private society redevelopment project till date, Dahisar Shree Avadhoot Co-operative Housing Society, having a plot area of 15,035 square meters. Kolte Patils economic interest in this project is 4 lakh square feet.

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Nucleus Software vaults after posting strong Q4 results
Apr 26,2017

The result was announced after market hours yesterday, 25 April 2017.

The stock has jumped 19.9% in five sessions to its ruling price of Rs 312.05, from a close of Rs 260.25 on 19 April 2017.

Meanwhile, the S&P BSE Sensex was up 153.79 points, or 0.51% to 30,097.03. The S&P BSE Small-Cap index was up 72.15 points, or 0.47% to 15,452.04.

Huge volumes were witnessed on the counter. On the BSE, 2.24 lakh shares were traded in the counter so far, compared with average daily volumes of 18,278 shares in the past one quarter. The stock had hit a high of Rs 329.50 in intraday trade, which is also a 52-week high for the stock. The stock had hit a low of Rs 310 so far during the day. The stock had hit a 52-week low of Rs 171 on 29 September 2016.

The stock had outperformed the market over the past one month till 25 April 2017, gaining 12.19% compared with the Sensexs 1.77% rise. The scrip had, however, underperformed the market in past one quarter, gaining 2.9% as against Sensexs 8.07% rise.

The small-cap company has equity capital of Rs 32.38 crore. Face value per share is Rs 10.

Nucleus Softwares board of directors recommended a final dividend of Rs 5 per share for the year ended 31 March 2017.

The board of directors of the company at a meeting held on 25 April 2017, approved a buyback of upto an aggregate amount not exceeding Rs 117.79 crore, representing 25% of the paid up share capital and free reserves as on 31 March 2017 at a price not exceeding Rs 350 per equity share.

At the maximum offer price and for the maximum offer size, the indicative maximum number of equity shares that can be bought back would be 33.65 lakh equity shares representing 10.39% of the total paid up equity share capital of the company.

The buyback price of Rs 350 was at a premium of 23.23% to a closing price of Rs 284 hit yesterday, 25 April 2017.

Nucleus Software is the leading provider of lending and transaction banking products to the global financial services industry, supporting retail banking, corporate banking, cash management, internet banking, automotive finance and other business areas.

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NIIT Technologies partners with Thailand based Siam City Cement Company
Apr 26,2017

The Thailand based cement manufacturer, Siam City Cement Company has partnered with NIIT Technologies for building its future ready IT infrastructure. Supporting the digital transformation for SCCC, NIIT Technologies has designed, delivered and is operating its private and public cloud infrastructure.

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Online Statement Of Transaction (e-SOT) and the e-PRAN card launched for Atal Pension Yojana (APY) subscribers
Apr 26,2017

With a view to digitally empower the Atal Pension Yojana (APY) subscribers and improve the quality of service, the facility of online viewing of the statement of transaction(e-SOT) and also the e-PRAN card have been launched. More than 45 lacs APY subscribers are likely to be benefitted. The APY subscribers can visit the website: www.npscra.nsdl.co.in or www.npstrust.org.in under the Atal Pension Yojana Section to avail these value added facilities. By providing the APY/PRAN Acct details and Savings Bank Account number details, the APY subscriber can view ones APY Account Statement. Even for the APY subscriber who does not have his APY PRAN number readily available can also avail these facilities by providing ones Date of Birth and Savings Bank Account number details. This online tool enables the Subscribers to view his complete details of APY account like transaction details, pension amount, pension commencement date, nominee name, associated bank name etc. Even though the feature is a self-servicing tool but the service providers can also access the feature on behalf of their customer to improve the quality of customer service. APY Subscribers can print their e PRAN card and get it laminated for their future reference if needed. In case of any changes in the demographic details in the APY account, the subscribers can re-print their e-PRAN which shows the updated subscriber records.

The Atal Pension Yojana (APY) Scheme is being implemented through 235 APY-Service Providers all over the country consisting of 27 Public Sector Banks (PSBs), 19 private banks, 1 foreign bank, 56 Regional Rural Banks (RRBs), 109 District Cooperative Banks (DCBs), 16 State Cooperative Banks(SCBs), 6 Urban Cooperative Banks (UCBs) and the Department of Posts. All the APY-SPs are partners in achieving the APY outreach through-out the length and breadth of the country. Presently, there are more than 45 lacs subscribers registered in the Scheme. About 10000-15000 APY subscribers are getting enrolled into the Scheme every day.

The Atal Pension Yojana (APY) was launched by the Prime Minister of India Shri Narendra Modi on 09th May, 2015 and became operational from 1st June, 2015. APY is available for all citizens of India in the age group of 18-40 years. Under the APY, the subscribers would receive a minimum guaranteed pension of Rs. 1000 to Rs. 5000 per month from the age of 60 years, depending on their contributions, which depends on the age of the subscriber at the time of joining the APY. The Same amount of pension is paid to the spouse in case of subscribers demise. After the demise of both i.e. Subscriber & Spouse, the nominee would be paid with the pension corpus. There is option for Spouse to continue to contribute for balance period on premature death of subscriber before 60 years, so as to avail pension by Spouse. There are tax benefits at entry, accumulation and pension payment phases. If the actual returns on the pension contributions during the accumulation phase are higher than the assumed returns for the minimum guaranteed pension, such excess returns are passed on to the subscriber, resulting in enhanced scheme benefits.

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Board of IDFC Bank approved raising of LT funds up to Rs 10000 crore
Apr 26,2017

IDFC Bank announced that the Board of Directors of the Company at its meeting held on 25 April 2017 has granted its approval for borrowing / raising long term funds by issue of redeemable Non-Convertible Debentures and other debt instruments, including instruments eligible for capital benefits under BASEL III norms, on private placement basis, up to an amount not exceeding Rs.10,000 crore, in one or more tranches, in domestic / overseas market, over a period of 1 year, within the overall borrowing limit of Rs. 1,50,000 crore as approved by the Shareholders of the Bank. The aforesaid securities post allotment would be listed on NSE and / or BSE. The aforesaid issue shall be subject to the approval of the Shareholders at the ensuing Annual General Meeting and any other regulatory approvals as may be applicable.

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