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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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Inducto Steel to hold board meeting
Nov 07,2016

Inducto Steel will hold a meeting of the Board of Directors of the Company on 12 November 2016 to inter-alia consider and approve the Un-audited Financial Results of the Company for the Quarter ended September 30, 2016.

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Raymed Labs to hold board meeting
Nov 07,2016

Raymed Labs will hold a meeting of the Board of Directors of the Company on 12 November 2016 to consider and approve the Unaudited Financial Results including Statement of Assets and Liabilities along with the Limited Review Report as provided by the Auditor as per Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for the Quarter ended on September 30, 2016.

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Daikaffil Chemicals India to hold board meeting
Nov 07,2016

Daikaffil Chemicals India will hold a meeting of the Board of Directors of the Company on 14 November 2016 to consider and approve Unaudited Financial Results for the Quarter and half year ended September 30, 2016.

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Shiva Global Agro Industries to hold board meeting
Nov 07,2016

Shiva Global Agro Industries will hold a meeting of the Board of Directors of the Company on 12 November 2016 To adopt Unaudited Financial Results of the Company for the Quarter ended September 30, 2016.

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Roxy Exports to hold board meeting
Nov 07,2016

Roxy Exports will hold a meeting of the Board of Directors of the Company on 12 November 2016 to consider and approve Unaudited Financial Results including Statement of Assets and Liabilities along with Limited Review Report as provided by the Auditor as per Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for the Quarter ended September 30, 2016.

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Anjani Foods to hold board meeting
Nov 07,2016

Anjani Foods will hold a meeting of the Board of Directors of the Company on 14 November 2016 to consider the un-audited standalone and consolidated financial results for the quarter ended September 30, 2016.

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L&T-MHPS Boilers signs technology licence agreement with Mitsubishi Hitachi Power Systems
Nov 07,2016

L&T-MHPS Boilers, a joint venture of Larsen & Toubro (L&T) and Mitsubishi Hitachi Power Systems (MHPS), Japan, has signed a Technology Licence Agreement for Selective Catalytic Reduction (SCR)systems with MHPS.

The technology licensing agreement is for design, engineering, manufacture, installation, commissioning, and sale of new boilers under BTG, EPC or SG packages or standalone SCR systems, and for existing and under construction boilers on exclusive basis in India.

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Hariyana Ship Breakers to hold board meeting
Nov 07,2016

Hariyana Ship Breakers will hold a meeting of the Board of Directors of the Company on 12 November 2016 to inter-alia consider and approve the Un-audited Financial Results of the Company for the Quarter ended September 30, 2016.

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Shree Ram Urban Infrastructure to hold board meeting
Nov 07,2016

Shree Ram Urban Infrastructure will hold a meeting of the Board of Directors of the Company on 14 November 2016 Consider and adopt Unaudited Financial Results for the quarter & half year ended September 30, 2016.

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Remsons Industries to hold board meeting
Nov 07,2016

Remsons Industries will hold a meeting of the Board of Directors of the Company on 14 November 2016.

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Ricoh India to hold board meeting
Nov 07,2016

Ricoh India will hold a meeting of the Board of Directors of the Company on 18 November 2016 to Consider and approve Unaudited financial results for the quarter ended December 31, 2015 subject to Limited Review of the Statutory Auditors of the Company

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JIK Industries to hold board meeting
Nov 07,2016

JIK Industries will hold a meeting of the Board of Directors of the Company on 11 November 2016 To consider and take on record an Unaudited Financial Results for the Quarter ended September 30, 2016.

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Q2 results in focus at board meeting of Easun Reyrolle
Nov 07,2016

Easun Reyrolle announced that a Meeting of the Board of Directors of the Company is scheduled to be held on 14 November 2016, to consider Un-audited Financial Results for the Quarter and Half-year ended 30 September 2016.

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L&T turns volatile post Govts stake sale
Nov 07,2016

Meanwhile, the S&P BSE Sensex was up 198.54 points or 0.73% at 27,472.69.

On BSE, so far 1.61 lakh shares were traded in the counter as against average daily volume of 2.50 lakh shares in the past one quarter. The stock was volatile. The stock lost as much as 0.62% at the days low of Rs 1,410.10 so far during the day. The stock rose as much as 0.91% at the days high of Rs 1,431.95 so far during the day. The stock had hit a 52-week high of Rs 1,615 on 27 July 2016. The stock had hit a 52-week low of Rs 1,016.60 on 12 February 2016. The stock had outperformed the market over the past one month till 4 November 2016, sliding 2.07% compared with 3.74% fall in the Sensex. The scrip had, however, underperformed the market in past one quarter, declining 3.5% as against Sensexs 1.59% fall.

The large-cap company has equity capital of Rs 186.47 crore. Face value per share is Rs 2.

The Government of India (GoI) through the Administrator of the Specified Undertaking of the Unit Trust of India (Suuti) offloaded a total of 98.82 lakh shares of L&T via bulk deal mechanism on the stock exchanges on Friday, 4 November 2016. It sold 49.41 lakh shares at Rs 1,416.05 per share on the BSE. It liquidated another 49.41 lakh shares at Rs 1,415.65 per share on the NSE. State Bank of India bought 56.55 lakh shares at Rs 1,415.58 per share on the NSE.

Suuti currently holds 8.14% stake in L&T as per the shareholding pattern as on 30 September 2016.

L&Ts consolidated net profit rose 45.5% to Rs 609.60 crore on 9.3% growth in net sales to Rs 21718.61 crore in Q1 June 2016 over Q1 June 2015.

L&T is a major Indian multinational engaged in technology, engineering, construction, manufacturing and financial services. It operates in more than 30 countries worldwide.

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Centralised registration system under GST is imperative for ease of doing business: CII President
Nov 07,2016

Model GST Law suggests multiple registrations in each State for supply of goods and services. n++This has the potential to result in huge burden of complexity as companies operate in many different States. Businesses in the services sector such as telecom, banking, insurance, airlines, e-commerce, undertake pan-India operations, meeting requirements of each State through different registrations, audits and compliances would be a massive taskn++, said Dr Naushad Forbes, President, Confederation of Indian Industry. Dr Forbes further stated that n++a centralized registration system should be instituted under GST. States could be offered credits through the Integrated GST (IGST) mechanism. Such a system would greatly simplify ease of doing business and foster better tax compliance.n++

On multiple GST rates, CII has said that GST rates structure can be absolute limit of four rates as suggested by the Government, and over time, the Government should commit to converge to one or two rates. Further, CII has said that it is also important that the bulk of goods and services should fall within the standard rate of 18% and only as exception to go to the higher rate of 28% and a lower rate for essential goods such as unprocessed food items, etc. CII agrees with the proposal that the higher rate of 28% should apply only to demerit goods and the term n++Luxuryn++ goods should not be used to define this category, stated the CII Release.

CII has further suggested that the Cess needs to be levied only at the final product and total tax including Cess on demerit goods should be kept within the present overall indirect tax incidence.

GST Law does not clarify if administration of GST for assessment and audits is to be undertaken by the Central Government or by State governments. n++It would be challenging for companies to meet the requirements of dual administration by both the Central and State governments, while maintaining consistency across different filings. Likewise, it could be an additional burden for the administration in terms of duplication and costs. There should be a single administration process, either by the Center or the State, which would be acceptable to both. This would action the intention of making India a common market with single audit and assessmentn++ said Dr Forbes. He further added that for all purposes of calculating taxes under GST, only the invoice value should be considered.

Dr Forbes further emphasized on the transition to GST issues and stated that n++transition is expected to entail a period where companies have higher inventories and it is necessary to deal with these stocks of goods in terms of applicable tax. GST Law does not clearly specify if credit is available on excise duty and central sales tax paid on inventories of domestic goods, and on countervailing duty (CVD) paid for imported goods. Clarity on this aspect needs to be providedn++, said the CII President.

Introducing a national tax reform of the magnitude that impacts every consumer and millions of producers is certainly not an easy endeavour. n++We commend the Central and State governments for strong commitment to the GST. In turn, CII pledges to partner with the government to ensure smooth, hassle-free, and efficient roll-out of the GST so that all stakeholders derive the maximum benefitn++, stated Dr Forbes.

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