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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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Natco Pharma gains after USFDA approval for Budesonide generic
Nov 24,2016

Meanwhile, the BSE Sensex was down 84.16 points, or 0.32%, to 25,967.65.

On BSE, so far 15,000 shares were traded in the counter, compared with average daily volume of 34,131 shares in the past one quarter. The stock hit a high of Rs 600.35 and a low of Rs 585 so far during the day. The stock hit a record high of Rs 703.95 on 25 August 2016. The stock hit a 52-week low of Rs 390 on 29 March 2016. The stock had outperformed the market over the past 30 days till 23 November 2016, falling 1.59% compared with the 7.26% decline in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 13.75% as against Sensexs 6.41% decline.

The large-cap company has equity capital of Rs 34.86 crore. Face value per share is Rs 2.

Natco Pharma said it received final approval of abbreviated new drug application (ANDA) from the US Food and Drug Administration (USFDA) for generic version of Budesonide capsules (Enteric Coated), 3 milligrams (mg). Natco and its marketing partner Alvogen plan to launch this product in the US market immediately.

Perrigo Pharma International DAC sells Budesonide capsules under their brand Entocort in the US market. Entocort EC Capsules, 3 mg, and its generic versions had US sales of approximately $370 million for twelve months ending December 2015, according to IMS Health.

On a consolidated basis, net profit of Natco Pharma rose 127.21% to Rs 66.55 crore on 75.56% rise in net sales to Rs 415.21 crore in Q2 September 2016 over Q2 September 2015.

Natco Pharma manufactures generic dosage forms, bulk actives and intermediates for the Indian and international markets.

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Natco Pharma gets nod from USFDA
Nov 24,2016

Natco Pharma has been given a final approval of Abbreviated New Drug Application from the U.S. Food and Drug Administeration For generic Budesonide Capsules, 3 mg, for USA market

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Advance Syntex to hold EGM
Nov 24,2016

Advance Syntex will hold the Extra-Ordinary General Meeting on 16th December 2016, to consider increase in the Authorised Share Capital of the Company and consequent alteration in the Memorandum of Association of the Company, and approval for issue of Bonus Shares.

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HealthCare Global Enterprises enters joint venture agreement
Nov 24,2016

HealthCare Global Enterprises on 22nd November 2016 has entered into a joint venture agreement with its subsidiary, Regency Oncology Healthcare Pvt. Ltd to set out the relationship between them, their rights, obligations as shareholders in HCG Regency Oncology Healthcare Pvt. Ltd and other matters in connection therewith.

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Bodal Chemicals gains after securing High Court of Gujarat nod for Scheme of Amalgamation
Nov 24,2016

The announcement was made after market hours yesterday, 23 November 2016.

Meanwhile, the S&P BSE Sensex was down 99.66 points, or 0.38%, to 25,952.15

On BSE, so far 2.06 lakh shares were traded in the counter, compared with average daily volume of 3.27 lakh shares in the past one quarter. The stock hit a high of Rs 114.70 and a low of Rs 107.95 so far during the day. The stock hit a record high of Rs 155 on 6 October 2016. The stock hit a 52-week low of Rs 37.40 on 24 November 2015. The stock had underperformed the market over the past 30 days till 23 November 2016, falling 22.29% compared with the 7.26% decline in the Sensex. The scrip, however, outperformed the market in past one quarter, falling 5.68% as against Sensexs 6.41% decline.

The small-cap company has an equity capital of Rs 21.82 crore. Face value per share is Rs 2.

Bodal Chemicals said that High Court of Gujarat vide its Oral Order dated 11 November 2016, which was received by the company on 23 November 2016, has approved the Scheme of Amalgamation of Bodal Agrotech with itself. The Appointed date of Scheme of Amalgamation is 1 April 2016. Further, the company is awaiting the certified copy of the Order of Court of Gujarat for further action, Bodal Chemicals said.

Bodal Chemicals net profit rose 45.58% to Rs 34.05 crore on 28.5% rise in total income to Rs 332.60 crore in Q2 September 2016 over Q2 September 2015.

Bodal Chemicals is engaged in manufacturing of acid, direct and reactive dyestuffs and dye intermediates for textile, leather, plastics and papermaking applications.

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Asian Oilfield Services to hold board meeting
Nov 24,2016

The Board meeting of Asian Oilfield Services will be held on 26th November 2016, to consider various options for raising of funds, including issue of equity shares/ warrants on preferential basis and also to fix the ate, time and venue of the Extra Ordinary General meeting of the members of the Company for their approval to the fund raise.

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NBCC gains after executing MoUs
Nov 24,2016

The announcement was made after market hours yesterday, 23 November 2016.

Meanwhile, the BSE Sensex was down 124.82 points, or 0.48%, to 25,926.99.

On BSE, so far 1.09 lakh shares were traded in the counter, compared with average daily volume of 1.97 lakh shares in the past one quarter. The stock hit a high of Rs 232.35 and a low of Rs 224.15 so far during the day. The stock hit a record high of Rs 299.20 on 5 October 2016. The stock hit a 52-week low of Rs 162 on 12 February 2016. The stock had outperformed the market over the past 30 days till 23 November 2016, falling 5.77% compared with the 7.26% decline in the Sensex. The scrip had also outperformed the market in past one quarter, falling 5.32% as against Sensexs 6.41% decline.

The large-cap company has equity capital of Rs 120 crore. Face value per share is Rs 2.

NBCC (India) entered into memorandum of understanding (MoU) with Rosinformexport LLC, a subsidiary of RT-Business Development, an investment company of Rostec State Corporation, a 100% state owned company of Russia, having expertise in ICT/Digital Products. NBCC & Rosinformexport shall collaborate to jointly participate in the smart city projects in India. This n++s strategic cooperation MoU and does not involve any joint venture (JV)/fn++nancial implication.

Further, NBCC (India) entered into MoU with Department for International Development (DFID India) a ministerial department of UK, responsible for administering overseas aid with the goal to promote sustainable development and eliminate world poverty. NBCC & DFID shall collaborate with the endeavour to strengthen, promote and develop sustainable smart cities, integrated smart railway stations with green building technologies in India. This is strategic cooperation MoU and does not involve any JV/financial implication.

NBCC (India) also entered into MoU with Indian Telephone Industries, (ITI), a state owned manufacturer of telecommunications equipment in India and a central PSU under Department of Telecommunications, Ministry of Communication & IT, Government of India. NBCC and ITI agreed to jointly carry out feasibility study/preparation of DPR for developing ITT land Parcel of 30 acres at Electronic City Bangalore. The development of project through joint venture shall be undertaken on project specific agreement.

NBCC (India)s consolidated net profit rose 1.42% to Rs 69.11 crore on 15.75% increase in net sales to Rs 1224.41 crore in Q2 September 2016 over Q2 September 2015.

NBCC (India) is a blue-chip Government of India (GoI) Navratna Enterprise under the Ministry of Urban Development, in construction sector. The GoI held 90% stake in the firm (as per shareholding pattern as on 30 September 2016).

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Murad Properties & Projects lists equity shares
Nov 24,2016

The equity shares of Murad Properties & Projects Ltd bearing Scrip Code 540190 are listed and admitted to dealings on the Exchange in the list of XT Group Securities with effect from 24th November 2016.

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Nagarjuna Fertilizers and Chemicals to hold board meeting
Nov 24,2016

Nagarjuna Fertilizers and Chemicals has announced that the directors will consider the unaudited financial results for the quarter / half-year ended 30th September 2016 on 02nd December 2016.

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TRIL gains after bagging order
Nov 24,2016

The announcement was made after market hours yesterday, 23 November 2016.

Meanwhile, the BSE Sensex was down 119.06 points, or 0.46%, to 25,932.75.

On BSE, so far 5,336 shares were traded in the counter, compared with average daily volume of 6,470 shares in the past one quarter. The stock hit a high of Rs 336.90 and a low of Rs 327 so far during the day. The stock hit a 52-week high of Rs 389 on 10 November 2016. The stock hit a 52-week low of Rs 181.80 on 30 November 2015. The stock had outperformed the market over the past 30 days till 23 November 2016, falling 4.54% compared with the 7.26% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 6.04% as against Sensexs 6.41% decline.

The small-cap company has equity capital of Rs 13.26 crore. Face value per share is Rs 10.

Transformers and Rectifiers (India) (TRIL) has been awarded the order for 232 units of inverter duty transformers and 19 units of power transformers upto 110 kV class amounting to Rs 96 Crores from Adani Group for solar power project.

With this order, the companys order book as on date stands at around Rs 980 crore.

TRIL reported net profit of Rs 9.60 crore in Q2 September 2016 as against net loss of Rs 2.35 crore in Q2 September 2015. Net sales rose 90.19% to Rs 261.93 crore in Q2 September 2016 over Q2 September 2015.

TRIL manufactures a wide range of transformers for the domestic and the international market.

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Bannari Amman Sugars sweetens after blockbuster Q2 outcome
Nov 24,2016

The result was announced after market hours yesterday, 23 November 2016.

Meanwhile, the S&P BSE Sensex was down 94.83 points or 0.36% at 25,956.98

On BSE, so far 570 shares shares were traded in the counter as against average daily volume of 2,013 shares in the past one quarter. The stock hit a high of Rs 2,023.95 and a low of Rs 1,957.30 so far during the day. The stock had hit a record high of Rs 2,242.25 on 28 June 2016. The stock had hit a 52-week low of Rs 940.50 on 12 February 2016.

The small-cap sugar company has an equity capital of Rs 11.44 crore. Face value per share is Rs 10.

Bannari Amman Sugars said that the High Court of Judicature at Madras on 15 November 2016 has passed an Order sanctioning the Scheme of Amalgamation of Madras Sugars with the company. The appointed date for the Scheme of Amalgamation is 1 January 2016, Bannari Amman Sugars said. The company have filed the certified copy of the scheme of amalgamation with the Registrar of Companies on 23 November 2016, it added.

Bannari Amman Sugars manufactures sugar.

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Rallis India gains after signing agreement for hiking stake in subsidiary
Nov 24,2016

The announcement was made after market hours yesterday, 23 November 2016.

Meanwhile, the S&P BSE Sensex was down 112.04 points or 0.43% at 25,939.77

On BSE, so far 4,581 shares were traded in the counter as against average daily volume of 69,440 shares in the past one quarter. The stock hit a high of Rs 192 and a low of Rs 188.90 so far during the day. The stock had hit a 52-week high of Rs 245.95 on 4 October 2016. The stock had hit a 52-week low of Rs 142 on 21 January 2016.

The mid-cap company has equity capital of Rs 19.45 crore. Face value per share is Re 1.

Consequently, Zero Waste Agro - Organics (ZWAOL) will become a wholly owned subsidiary of the company, on completion of the acquisition of the balance shares in ZWAOL. ZWAOL is into manufacture of organic compost. The cost of acquisition is Rs 19.49 crore, Rallis India said.

Rallis Indias consolidated net profit rose 31% to Rs 66.52 crore on 22.11% rise in total income to Rs 552.61 crore in Q2 September 2016 over Q2 September 2015.

Rallis India is one of Indias leading agrochemicals companies.

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Oil India jumps on bonus issue plan
Nov 24,2016

The announcement was made after market hours yesterday, 23 November 2016.

Meanwhile, the BSE Sensex was down 96.19 points, or 0.37%, to 25,955.62.

On BSE, so far 80,000 shares were traded in the counter, compared with average daily volume of 70,199 shares in the past one quarter. The stock hit a high of Rs 446 so far during the day, which is also 52-week high for the counter. The stock hit a low of Rs 437.05 so far during the day. The stock hit a record low of Rs 300.50 on 1 March 2016. The stock had outperformed the market over the past 30 days till 23 November 2016, rising 3.14% compared with the 7.26% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 11.35% as against Sensexs 6.41% decline.

The large-cap company has equity capital of Rs 601.14 crore. Face value per share is Rs 10.

Oil Indias net profit fell 33.5% to Rs 494.41 crore on 22.4% decline in net sales to Rs 2133.31 crore in Q1 June 2016 over Q1 June 2015. The company will announce Q2 results on 28 November 2016.

The Government of India held 67.64% stake in Oil India as per the shareholding pattern as on 30 June 2016.

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Seamec bucks trend after bagging contract
Nov 24,2016

The announcement was made after market hours yesterday, 23 November 2016.

Meanwhile, the BSE Sensex was down 119.29 points, or 0.46%, to 25,932.52.

On BSE, so far 322 shares were traded in the counter, compared with average daily volume of 11,660 shares in the past one quarter. The stock hit a high of Rs 85.40 and a low of Rs 83 so far during the day. The stock hit a 52-week high of Rs 124 on 2 December 2015. The stock hit a 52-week low of Rs 64.25 on 31 March 2016. The stock had underperformed the market over the past 30 days till 23 November 2016, falling 16.73% compared with the 7.26% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 17.02% as against Sensexs 6.41% decline.

The small-cap company has equity capital of Rs 25.43 crore. Face value per share is Rs 10.

Seamec said it has entered into a contract for the charter hire of vessel n++Revelationn++ with Resolve Salvage and Fire (Asia) for undertaking a job in West Coast of India. The tenure of the contract is for a firm period of 25 days subject to extension. The contract will commence around the first week of January 2017. The value of charter during firm period is $244,000.

Seamec reported net loss of Rs 11.16 crore in Q1 June 2016 as against net profit of Rs 12.19 crore in Q1 June 2015. Net sales declined 46.28% to Rs 46.62 crore in Q1 June 2016 over Q1 June 2015.

Seamec is the regions leading provider of Diving Support Vessel (DSV) based diving services. The company has experience in the ongoing subsea inspection, repair, maintenance and light construction required for the efficient and productive support of offshore oil production.

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US stocks end on a flat note
Nov 24,2016

US stock market ended the pre-holiday affair on a flat note on Wednesday, 23 November 2016 despite a deluge of economic data. Dow industrials and the S&P 500 notched a third straight record close on Wednesday, boosted in part by industrials, while the Nasdaq lagged behind in trading ahead of the Thanksgiving Day holiday.

The Dow Jones Industrial Average rose 59.31 points, or 0.3%, to close at 19,083.18, after hitting an intraday record of 19,083.76. The S&P 500 which had been in negative territory for most of the session, advanced 1.78 points, or less than 0.1%, to finish at a record 2,204.72, its session high, led by 0.8% gains in both the industrials and telecom sectors. Its the third session in a row both the Dow and the S&P 500 have turned in record closes. Bucking the positive tone, the Nasdaq Composite Index declined 5.67 points, or 0.1%, to finish at 5,380.68, pressured by a drop in biotech stocks.

The major averages diverged at the start of the session as the heavily-weighted technology and health care spaces slipped down the sector leaderboard.

Stocks barely budged after the Federal Reserve released minutes from its November meeting, but the Dow gradually skewed upward and the S&P 500 swung to a slight gain heading in to the close. The Fed minutes showed that policy makers agreed an interest-rate increase may be appropriate relatively soon.

Todays economic data included the weekly MBA Mortgage Index, weekly initial claims, Durable Orders for October, the FHFA Housing Price Index for September, New Home Sales for October, and the University of Michigan Consumer Sentiment Survey for November. The MBA Mortgage Index indicated that mortgage applications rose by 5.5% in the week ending 19 November 2016. This followed a 9.2% decline in the prior week.

Initial jobless claims increased by 18,000 for the week ending 19 November to 251,000 (consensus 243,000). Continuing claims for the week ending 12 November increased by 66,000 to 2.043 million. Durable orders for October surged past estimates, jumping 4.8% (consensus 1.1%), thanks to a 12.0% spike in transportation orders. Excluding transportation, durable orders increased 1.0% in October (consensus 0.3%) on top of an unrevised 0.2% increase in September.

The FHFA Housing Price Index for September rose 0.6%, which followed an increase of 0.7% in August. Sales of new single-family home sales declined 1.9% in October to a seasonally adjusted annual rate of 563,000 from a revised September rate of 574,000 (from 593,000). The October reading was lower than the consensus estimate of 587,000.

Separately, the final reading of the University of Michigan Consumer Sentiment Survey for November increased to 93.8 (consensus 91.6) from the preliminary reading of 91.6. The sentiment index jumped 8.2 points after the election, leaving the index 6.6 points above its level from October.

Heavy machinery names outperformed in the industrial sector. The group led after Deere topped consensus estimates for the fourth quarter and issued upbeat sales guidance for the first quarter and full-year 2017. Peer and Dow component Caterpillar finished at the top of the price-weighted average. The broader sector has gained 8.7% so far this month.

In the technology space, large cap tech names underperformed. Microsoft and Alphabet finished lower by 1.0% apiece. Meanwhile, HP tumbled 6.8% after issuing cautious first-quarter guidance. However, the company did report in-line results for the fourth quarter.

Oil prices fell slightly, settling down 0.2% at $47.96 a barrel, on the day after U.S. inventory data from the Energy Information Administration showed a rise in stockpiles, a negative sign for demand. However, crude prices have been buffeted ahead of next weeks meeting of the Organization of the Petroleum Exporting Countries.

Gold prices settled down 1.8% at $1,189.30 an ounce, hurt by the rise in the dollar.

Treasuries ended on a broadly lower note as yields jumped across the curve. The yield on the 2-yr note finished up four basis points at 1.13% while the yield on the benchmark 10-yr note also rose four basis points to 2.36%.

Todays trading volume was below the recent average of one billion as fewer than 808 million shares changed hands at the NYSE floor.

Tomorrow, bond and equity markets will be closed for Thanksgiving while Fridays session will end at 13:00 ET. Two pieces of economic data will be released Friday with October International Trade in Goods and October Advance Wholesale Inventories (consensus +0.2%) each crossing the wires at 8:30 ET.

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