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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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Board of Super Fine Knitters approves change in company secretary and compliance officer
Mar 16,2017

Super Fine Knitters announced that the Board of Directors of the Company at its meeting held on 16 March 2017 has approved the following -

Divya Jain has resigned from the post of Company Secretary & Compliance Officer of the Company and Shruti Gupta has been appointed as Company Secretary & Compliance Officer of the Company.

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Greenply Industries to set up new unit in Hardoi, U.P.
Mar 16,2017

Greenply Industries announced that the Board of Directors of the Company at its meeting held on 16 March 2017 has approved setting-up of a new unit in Sandila Industrial Area, Sandila, Dist.- Hardoi, Uttar Pradesh, for manufacturing of plywood and its allied products.

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Fitch: Fed Embarks on New Phase of Normalization
Mar 16,2017

Fitch Ratings-New York/London-15 March 2017: The US Federal Reserves (the Fed) decision to hike interest rates by 25bps represents the beginning of a new phase of US monetary policy normalization, says Fitch Ratings.

The prediction for three hikes in 2017 in the Federal Open Market Committees (FOMC) December 2016 Summary of Economic Projections was initially met with some skepticism in financial markets. However, by moving rates up again so quickly, the Fed now looks well on track to deliver. Two rate hikes within the space of just over three months and some marginal toughening up of the statement on forward guidance underscore the contrast with the glacial and hesitant approach to unwinding stimulus seen in the past few years. More broadly, Fitch believes that the recent US rate hikes could mark the beginning of a significant shift in the global interest rate environment, with benchmark US policy rates settling higher over the long term than current market expectations.

The decision to raise the Fed Funds target rate to 0.75%-1.00% marks the second rate hike in just over three months. This represents a major acceleration in Fed action. Fitch now expects a total of seven hikes in 2017 and 2018, bringing the policy rate to 2.50%. This contrasts with just two rate hikes in total between the end of 2008 and 2016.

Macro indicators through 2H16 and early 2017 reinforce the likelihood of a pickup in rate normalization over the medium term. GDP growth of 2.6% (annualized) in 2H16 was a significant recovery from 1H16, underpinned by improvements in private investment and industrial output. So far, jobs data this year have also been supportive, with the latest nonfarm payrolls, unemployment and private sector earnings figures all pointing to tightening labor market conditions.

Material fiscal easing should bolster positive domestic demand trends. President Trumps agenda of tax cuts, fiscal stimulus and deregulation in the financial services and other sectors strongly indicates that some level of growth boost is likely. Although the precise form of stimulus remains uncertain, Fitch believes that fiscal policy could add up to 0.3pp to economic growth in both 2017 and 2018. Fitch recently revised up its US growth expectations in recognition of the increased likelihood of fiscal easing, higher private investment and improving global outlook. Fitch forecasts US GDP growth to accelerate to 2.3% and 2.6% in 2017 and 2018, respectively.

Fitch does not believe that the increased pace of Fed rate hikes poses a risk to US economic growth. However, the impact from dollar strengthening could have wider global effects, especially should this result in prolonged monetary policy divergence. US rate rises, combined with fiscal stimulus, at a time when the European Central Bank and Bank of Japan are continuing to pursue ultra-loose monetary policy, should prolong the dollar strengthening trend. Rising rates and dollar strength have historically added to external financing risks for emerging markets.

Fitch believes that market expectations for a permanently lower equilibrium interest rate in the US and the continuation of ultra-loose monetary policy for several more years could be increasingly challenged. This could result in a rapid shift in consensus expectations toward a higher terminal rate and a faster pace of normalization. Notably, market consensus was not expecting a March rate hike as early as last month, although healthy macro data releases and hawkish public statements from FOMC members resulted in a quick shift in expectations ahead of the actual decision.

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Rupee flares up
Mar 16,2017

Rupee closed higher at 65.4075/4175 per dollar on Thursday (16 March 2017), versus its previous close of 65.67/69 per dollar.

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Cerebra Integrated Technologies to hold board meeting
Mar 16,2017

Cerebra Integrated Technologies will hold a meeting of the Board of Directors of the Company on 27 March 2017, to consider Issuance of Equity Shares and Warrants convertible into Equity Shares on preferential basis to Strategic Investors and Promoters.

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Board of Larsen & Toubro recommends dividend
Mar 16,2017

Larsen & Toubro announced that the Board of Directors of the Company at its meeting held on 16 March 2017, inter alia, have recommended the dividend of Rs 2.5 per equity Share (i.e. 50%) , subject to the approval of the shareholders.

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RCL Retail to hold board meeting
Mar 16,2017

RCL Retail will hold a meeting of the Board of Directors of the Company on 21 March 2017, to consider the appointment of company secretary.

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Colgate-Palmolive (India) to hold board meeting
Mar 16,2017

Colgate-Palmolive (India) will hold a meeting of the Board of Directors of the Company on 27 March 2017, to consider and declare the third interim dividend for the financial year 2016-17.

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India Nippon Electricals to hold board meeting
Mar 16,2017

India Nippon Electricals will hold a meeting of the Board of Directors of the Company on 30 March 2017.

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Mishtann Foods to hold board meeting
Mar 16,2017

Mishtann Foods will hold a meeting of the Board of Directors of the Company on 20 March 2017, to consolidate face value of equity shares of Rs. 1/- each into Rs. 10/- each, and to fix the date, time and venue of Extra Ordinary General Meeting and approve the draft notice of the Extra Ordinary General Meeting

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Jammu & Kashmir Bank to hold board meeting
Mar 16,2017

Jammu & Kashmir Bank will hold a meeting of the Board of Directors of the Company on 20 March 2017, to consider and approve the allotment of 3,65,55,051 equity shares of Re. 1/- each fully paid-up to the J&K Govt. on a preferential basis at the issue price of Rs. 68.39 per equity share (including a premium of Rs. 67.39 per equity share) aggregating to an amount of Rs. 249,99,99,938.

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Gujarat Bitumen to hold board meeting
Mar 16,2017

Gujarat Bitumen will hold a meeting of the Board of Directors of the Company on 18 March 2017.

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Hindustan Zinc to hold board meeting
Mar 16,2017

Hindustan Zinc will hold a meeting of the Board of Directors of the Company on 20 March 2017, to consider and declare second interim dividend

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HCL Technologies to hold board meeting
Mar 16,2017

HCL Technologies will hold a meeting of the Board of Directors of the Company on 20 March 2017, to consider, a proposal for Buyback of the equity shares of the Company.

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Sai Moh Auto Links to hold board meeting
Mar 16,2017

Sai Moh Auto Links will hold a meeting of the Board of Directors of the Company on 23 March 2017.

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