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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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Galaxy Consolidated Finance to consider September quarter results
Nov 08,2016

Galaxy Consolidated Finance announced that the meeting of Board of Directors of the Company is scheduled to be held on 14 November 2016, to consider, approve & take on record the Un-Audited Financial Results of the Company for the quarter ended on 30 September 2016.

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ICICI Bank gains after announcing Q2 results
Nov 08,2016

The result was announced after market hours yesterday, 7 November 2016.

Meanwhile, the BSE Sensex was up 64.38 points, or 0.26%, to 27,529.80.

On BSE, so far 2.77 lakh shares were traded in the counter, compared with average daily volume of 14.84 lakh shares in the past one quarter. The stock hit a high of Rs 287.40 and a low of Rs 281.60 so far during the day.

The large-cap private sector bank has equity capital of Rs 1163.83 crore. Face value per share is Rs 2.

ICICI Banks gross non-performing assets (NPAs) rose to Rs 32178.60 crore as on 30 September 2016 as against Rs 27193.58 crore as on 30 June 2016 and Rs 15857.82 crore as on 30 September 2015. The ratio of gross NPAs to gross advances rose to 6.82% as on 30 September 2016 as against 5.87% as on 30 June 2016 and 3.77% as on 30 September 2015.

The ratio of net NPAs to net advances increased to 3.57% as on 30 September 2016 as against 3.35% as on 30 June 2016 and 1.65% as on 30 September 2015. The banks provisions and contingencies (excluding tax provisions) jumped 651.75% to Rs 7082.69 crore in Q2 September 2016 over Q2 September 2015.

ICICI Banks other income in Q2 September 2016 includes gains of Rs 5682 crore relating to sale of 12.63% stake of the bank in the initial public offer of ICICI Prudential Life Insurance Company, which completed its IPO recently. ICICI Banks net interest income rose 0.04% to Rs 5253 crore in Q2 September 2016 over Q2 September 2015.

ICICI Bank is one of the leading private sector banks in India.

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IO System to consider September quarter results
Nov 08,2016

IO System announced that a Board meeting of the Company shall be held on 14 November 2016, inter alia, to take on record the Unaudited Quarterly results for the quarter ended 30 September 2016.

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Board of Engineers India to consider Q2 results & bonus issue
Nov 08,2016

Engineers India announced that a meeting of the Board of Directors of the Company will be held on 16 November 2016, inter alia, to consider and approve Un-audited Financial Results of the Company for the second quarter ended on 30 September 2016 (Q2).

The EILs Board of Directors may consider the Issue of Bonus Shares in the above said Board Meeting.

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Hazoor Multi Projects announces resignation of company secretary
Nov 08,2016

Hazoor Multi Projects announced that the Board of Directors at its meeting held on 07 November 2016, has accepted resignation of Company Secretary & Compliance Officer of the Company with effect from 07 November 2016(end of the business day)

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Board of Interlink Petroleum to consider September quarter results
Nov 08,2016

Interlink Petroleum announced that a meeting of the Board of Directors of the Company will be held on day of 14 November 2016, inter-alia, to consider and approve the audited financial results of the Company for the quarter / period ended on 30 September 2016.

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W S Industries (India) appoints director
Nov 08,2016

W S Industries (India) announced that Board of Directors have appointed Ramachandran Karthik as an Additional Director (Non-Executive) of the Company with effect from 01 November 2016 by Circular Resolution.

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Central Board of State Bank of India to decide on issue of LT bonds of Rs 5000 cr
Nov 08,2016

State Bank of India announced that a meeting of Executive Committee of the Central Board of the Bank is scheduled to be held on 10 November 2016, inter alia, to consider the following:

- To examine and decide for issuance of long term bonds of Rs.5,000 crore in domestic and overseas markets for financing of infrastructure and affordable housing (Infra Bonds) during FY 2017 on private placement in tranches at appropriate time.

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Shares of Varun Beverages get listed
Nov 08,2016

The equity shares of Varun Beverages (Scrip Code: 540180) are listed effective 08 November 2016 and admitted to dealings on the Exchange in the list of B Group Securities.

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Shares of Regency Investments get listed
Nov 08,2016

The equity shares of Regency Investments (Scrip Code: 540175) are listed effective 08 November 2016 and admitted to dealings on the Exchange in the list of XT Group Securities.

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Shares of Southern Infosys get listed
Nov 08,2016

The equity shares of Southern Infosys (Scrip Code: 540174) are listed effective 08 November 2016 and admitted to dealings on the Exchange in the list of XT Group Securities.

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Tapping value added to finance urban infra projects through innovative Value Capture Financing
Nov 08,2016

In the context of growing demand for resources to finance ongoing urban infrastructure expansion, the Ministry of Urban Development will soon come out with a policy framework for an innovative resource mobilization through Value Capture Financing (VCF). This seeks to enable States and city governments raise resources by tapping a share of increase in value of land and other properties like buildings resulting from public investments and policy initiatives, in the identified area of influence.

The Ministry will soon have inter-ministerial consultations on Value Capture Financing based on the feedback from the States. Shri Rajiv Gauba, Secretary (Urban Development) held final round of consultations with States in this regard last week.

The Ministry is keen about integrating VCF into project feasibility assessment for systematic and large scale adoption of capturing a part of potential increase in the value of land and other properties resulting from the proposed investment. The Ministry has identified ten ways of VCF out of which only a couple are being currently used for project financing by some States.

The proposed VCF policy framework that works as a guide to State and city governments will assist in assessing the scope of resource mobilization, identifying the area of influence of proposed projects and optimizing resource mobilization.

The different instruments of VCF are ; Land Value Tax, Fee for changing land use, Betterment levy, Development charges, Transfer of Development Rights, Premium on relaxation of Floor Space Index and Floor Area Ratio, Vacant Land Tax, Tax Increment Financing, Zoning relaxation for land acquisition and Land Pooling System.

While Betterment levy and Development charges are being currently used to some extent in States, the other instruments also have substantial scope for resource mobilization.

Traditional resource mobilization through direct sale of land, the most fundamental asset owned and managed by States and Urban Local Bodies is an inefficient form of resource mobilization and the Ministry is keen about land monetization more effectively though value capture. This innovative mechanism could also be used by central Ministries investing heavily in building national highways, railway projects, power generation and port infrastructure development.

Some cases of current use of VCF tools are:

The Mumbai Metropolitan Region Development Authority (MMRDA) and City and Industrial Development Corporation Limited (CIDCO) have used different Value Capture methods including Betterment levy to finance infrastructure development in the urbanizing areas. Tamil Nadu and Maharashtra have made Land Value Tax applicable to urban areas too under which increase in land value is tapped through increased revenue tax. West Bengal has formulated a system to capture gains from land use conversion. Area based Development charges are being resorted to in Andhra Pradesh, Gujarat, Maharashtra, Tamil Nadu and Madhya Pradesh. Karnataka, Gujarat and Maharashtra have made enabling provisions for enabling Transfer of Development Rights to buy additional FSI/FAR. Tax Increment Financing (TIF) enables realization of investments through increased taxes in the area of influence of a project and has been proposed by some cities under Smart City Plans.

Andhra Pradesh Government has resorted to Land Pooling for acquiring land for its Amaravati Capital Project under which farmers have given land in return for developed land parcels. Gujarat and Haryana also used this tool for some projects.

Ministry of Urban Development is working to develop a comprehensive VCF framework so that it can be used efficiently and optimally across the country as a method of financing infrastructure and enhancing the finances of urban local bodies.

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ICICI Bank may drop on muted growth in profitability in Q2
Nov 08,2016

ICICI Banks net profit rose 2.38% to Rs 3102.27 crore on 41.31% rise in total income to Rs 22759.08 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 7 November 2016.

Bharat Heavy Electricals (Bhel) announces Q2 results today, 8 November 2016.

State Bank of India (SBI) announced before market hours today, 8 November 2016, that a meeting of executive committee of the Central board of the bank is scheduled to be held on 10 November to examine and decide for issuance of long term bonds of Rs 5000 crore in domestic and overseas markets for financing of infrastructure and affordable housing (Infra bonds) during the year ending 31 March 2017 (FY 2017) on private placement in tranches at appropriate time.

Wipro announced after market hours yesterday, 7 November 2016, launch of its Open Banking API (Application Programming Interface) platform. The Open API platform will enable banks and financial institutions to launch Open Banking initiatives and create new forms of distribution channels and servicing capabilities, provide access to third-party application marketplaces, and comply with emerging regulatory norms through the standardization of APIs. Open Banking is an emerging trend in financial technology that uses Open APIs to enable third party developers build applications and services around a financial institution. It facilitates greater financial transparency and helps financial institutions innovate and create new revenue models. Open Banking has been gaining significant momentum across the globe, especially in the European banking industry - driven by changing regulatory mandates. Revised Directive on Payment Services (PSD2), is one such regulatory mandate that aims to standardize, integrate and improve payment efficiency in the European Union.

EID Parry India reported consolidated net profit of Rs 126.15 crore in Q2 September 2016 compared with consolidated net loss of Rs 4 crore in Q2 September 2015. Total income rose 6.66% to Rs 4757.26 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 7 November 2016.

Sanofi Indias net profit rose 11.17% to Rs 80.60 crore on 7.36% rise in total income to Rs 639 crore in Q3 September 2016 over Q3 September 2015. The result was announced after market hours yesterday, 7 November 2016.

GlaxoSmithkline Consumer Healthcares net profit fell 16.62% to Rs 183.72 crore on 5.69% rise in total income to Rs 1138.09 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 7 November 2016.

Ceats consolidated net profit rose 1.56% to Rs 106.92 crore on 5.3% rise in total income to Rs 1431.47 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 7 November 2016.

Varun Beverages makes its debut on the bourses today, 8 November 2016. The initial public offer (IPO) of Varun Beverages had seen moderate response from investors. The issue received bids for 3.27 crore shares compared with 1.76 crore shares on offer. The IPO was subscribed 1.86 times. The issue price is fixed at Rs 445 per share, the top end of the Rs 440 to Rs 445 per share price band for the IPO. Promoted by Ravi Kant Jaipuria, Varun Beverages is one of the largest franchisee in the world (outside USA) of carbonated soft drinks (CSD) and noncarbonated beverages (NCB) sold under trademarks owned by PepsiCo. It produces and distributes a wide range of CSD as well as a large selection of NCB including packaged drinking water.

Vijaya Bank announced after market hours yesterday, 7 November 2016, that the bank intends to raise tier 1 Capital through private placement of Basel III complaint additional tier 1 bonds of 10 lakh each at par aggregating to Rs 750 crore.

Britannia Industries consolidated net profit rose 5.79% to Rs 233.95 crore on 11.64% rise in total income to Rs 2497.27 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 7 November 2016

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Optiemus Infracom announces partnership with BlackBerry
Nov 07,2016

Optiemus Infracom announced that BlackBerry, a Global software leader in securing, connecting and mobilizing enterprises, announced a Partnership with the Company Optiemus Infracom for distribution of its class leading Mobile Handsets in India, on 07 November 2016.

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Control Print announces resignation of company secretary
Nov 07,2016

Control Print announced that Shama Pawar has tendered her resignation from the post of Company Secretary and Compliance Officer of the Company w.e.f. 05 November 2016.

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