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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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Chenani-Nashri Highway Tunnel: Beginning of a New Era in Road Connectivity
Mar 31,2017

The Prime Minister Shri Narendra Modi will dedicate Indias longest highways tunnel - the Chenani- Nashri tunnel in Jammu & Kashmir- to the nation on 2nd April, 2017. An ideal example of the governments Make in India and Skill India initiative, the 9 km long, twin-tube, all-weather tunnel between Udhampur and Ramban in Jammu & Kashmir is not only Indias longest highways tunnel but also Asias longest bi-directional highways tunnel. Built at an elevation of 1200 metres on one of the most difficult Himalayan terrains, the tunnel will cut the travel time between Jammu and Srinagar by two hours, bypassing about 41 kms of road length. It will also ensure an all weather passage on a route that often sees heavy traffic jams and disruptions due to landslides, snow, sharp curves, breakdown of vehicles and accidents.

The tunnel was constructed at a cost of about Rs 3720 crores. It is a part of the 286-km-long four-laning of the Jammu-Srinagar National Highway. The structure consists of a 9 km long, two-laned main tunnel with a parallel escape tunnel of same length. The two tunnels are connected by 29 cross passages at regular intervals along the entire length of the tunnel. These cross passages can be used for evacuation of vehicles and commuters in case of breakdown or any other emergency. There are two minor bridges on the south and north sides and 4-lane approach roads with Toll Plazas on both ends of the tunnel. The maximum height permitted in the tunnel is 5 meters and for checking the height special sensors have been installed just before the toll points at both ends.

The tunnel has an efficient, transverse ventilation system. There are inlets bringing fresh air at 8 metre intervals and outlet for exhaust every 100 metres. There is also a fully-integrated control system with ventilation, communication, power supply, incident detection, SOS call box and fire fighting. Fitted with intelligent traffic mechanism, the tunnel has fully automatic smart control and no human intervention will be required for its operations. The tunnel is also equipped with advanced scanners to ward off any security threat. Very few tunnels in the world have this kind of fully integrated tunnel control.

The project is also environment friendly. The time saving on the Jammu- Srinagar route will further result in fuel saving of approximately Rs 27 lakhs per day. Besides, the construction of the tunnel has avoided large -scale deforestation.

The Chenani-Nashri tunnel will have a very positive impact on the state economy. In line with the Skill India initiative of Prime Minister Shri Narendra Modi, the skill sets of local people were developed and improved, and they were engaged for construction of this tunnel. The project has provided employment to over 2,000 unskilled and skilled youth of Jammu and Kashmir as 94 percent of the work force was from the state. Around 600 to 900 people from across the country also worked on this project in 3 shifts over the past 4 years.

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Japans Official Development Assistance Loan to India for FY 2016
Mar 31,2017

The Notes were exchanged between Mr. S. Selvakumar, Joint Secretary, Department of Economic Affairs, Government of India and H.E. Mr. Kenji Hiramatsu, Ambassador of Japan to India. The Government of Japan has committed JICA Official Development Assistance loan for an amount of Yen 371.345 billion (=Rs.21590 crore approx. @ Exchange Rate of Re.1 = Yen 1.72.) under FY 2016 loan packages. The ODA loan assistance has been committed to Mumbai Trans Harbour Link Project (JPY 144.795 billion), Dedicated Freight Corridor Project (Procurement of Electric Locomotives) (JPY 108.456 billion), Chennai Metro Project (V) (JPY 33.321 billion), Andhra Pradesh Irrigation and Livelihood Improvement Project (Phase 2) (I) (JPY 21.297 billion), Rajasthan Water Sector Livelihood Improvement Project (I) (JPY 13.725 billion), Odisha Forestry Sector Development Project (Phase 2) (JPY 14.512 billion), Delhi Eastern Peripheral Expressway Intelligent Transport System (ITS) Installation Project (JPY 6.87 billion), Nagaland Forest Management Project (JPY 6.224 billion) and Tamil Nadu Investment Promotion Program (Phase 2) (JPY 22.145 billion).

India and Japan have had a long and fruitful history of bilateral development cooperation since 1958. In the last few years, the economic partnership between India and Japan has steadily progressed. This further consolidates and strengthens the Strategic and Global Partnership between India and Japan.

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Karnataka Bank opens 765th branch at Miyapadavu
Mar 31,2017

Karnataka Bank has opened its 765th Branch at Miyapadavu on 30 March 2017.

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Superspace Infrastructure appoints company secretary and compliance officer
Mar 31,2017

Superspace Infrastructure has appointment of Sumita Maheshwari (Gattani) as Whole Time Secretary and Compliance Officer of the Company with immediate effect at board meeting held on 31 March 2017.

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IDream Film Infrastructure Company appoints director
Mar 31,2017

IDream Film Infrastructure Company announced the appointment of Shamika Kadam as an additional Non Executive Director of the Company with effect from 31 March 2017.

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Yes Bank allots 3,27,11,000 equity shares
Mar 31,2017

Yes Bank has allotted 3,27,11,000 equity shares to qualified institutional buyers at an issue price of Rs 1500 per share (including premium of Rs 1490) aggregating Rs 4906.65 crore on 31 March 2017.

Post this allotment, the paid up equity share capital of the Bank stands increased to Rs 456.48 crore comprising of 45,64,85,813 equity shares of Rs 10 each.

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Supernova Advertising appoints company secretary and compliance officer
Mar 31,2017

Supernova Advertising announced that the Board has appointment of Manish Agarwal as Whole Time Secretary and Compliance Officer of the Company with immediate effect.

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Kotak Mahindra Bank allots 204,277 equity shares
Mar 31,2017

Kotak Mahindra Bank has allotted 204,277 equity shares of Rs 5 each under ESOP schemes.

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The Union Government has announced revised rates of interest on Small Savings Schemes for the First Quarter of 2017-18 to bring them somewhat closer t
Mar 31,2017

The Union Government has announced revised rates of interest on various small savings schemes for the first quarter of the financial year 2017-18. To bring such rates somewhat closer to market rates, the Government has decided to effect a reduction of 0.1 percentage points (10 basis points) in interest rates across the board in all the schemes except the Post Office Savings Account, which has been left untouched.

Government continues to accord highest priority to the interest of small savers, especially savings for the benefit of girl child, the senior citizens and the regular savers who form the backbone of our savings architecture. The current revision of rates is reflective of the Governments commitment to calibrated reform in the financial sector to ensure better interest rate transmission.

Various small savings schemes will continue to be very attractive compared to bank deposits of similar maturities and tenor even after this marginal reduction in interest rates by 0.1 percentage points. Apart from offering higher interest rates compared to bank deposits, some of the small savings schemes also enjoy income tax benefits. Further, small savings schemes like Senior Citizens Savings Scheme (SCSS), Sukanya Samriddhi Account (SSA), PPF, 5 year National Savings Certificate (NSC), 5 year Monthly Income Scheme (MIS) and 5 year Time Deposits (TD) enjoy additional interest rate spreads. This additional interest rate spread is 100 basis points in the case of Senior Citizen Savings Scheme, 75 basis points in Sukanya Samriddhi Account and 25 basis points spread in PPF, 5 year NSC, 5 year MIS and 5 year TD.

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Union Government has announced revised rates of interest on Small Savings Schemes for the Q1 2017-18 to bring them somewhat closer to market rates
Mar 31,2017

The Union Government has announced revised rates of interest on various small savings schemes for the first quarter of the financial year 2017-18. To bring such rates somewhat closer to market rates, the Government has decided to effect a reduction of 0.1 percentage points (10 basis points) in interest rates across the board in all the schemes except the Post Office Savings Account, which has been left untouched.

Government continues to accord highest priority to the interest of small savers, especially savings for the benefit of girl child, the senior citizens and the regular savers who form the backbone of our savings architecture. The current revision of rates is reflective of the Governments commitment to calibrated reform in the financial sector to ensure better interest rate transmission.

Various small savings schemes will continue to be very attractive compared to bank deposits of similar maturities and tenor even after this marginal reduction in interest rates by 0.1 percentage points. Apart from offering higher interest rates compared to bank deposits, some of the small savings schemes also enjoy income tax benefits. Further, small savings schemes like Senior Citizens Savings Scheme (SCSS), Sukanya Samriddhi Account (SSA), PPF, 5 year National Savings Certificate (NSC), 5 year Monthly Income Scheme (MIS) and 5 year Time Deposits (TD) enjoy additional interest rate spreads. This additional interest rate spread is 100 basis points in the case of Senior Citizen Savings Scheme, 75 basis points in Sukanya Samriddhi Account and 25 basis points spread in PPF, 5 year NSC, 5 year MIS and 5 year TD.

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Tata Consultancy Services named U.S. Partner of the Year, Commercial Category
Mar 31,2017

Tata Consultancy Services announced that it has been named U.S. Partner of the Year, Commercial Category, by Red Hat Inc., the worlds leading provider of open source solutions. This award is part of the annual Red Hat North American Partner Awards, which were announced on 28 March 2017 Red Hat North American Partner Conference in Las Vegas.

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Shriram Transport Finance Company allots NCDs aggregating Rs 95 crore
Mar 31,2017

Shriram Transport Finance Company announced that the Allotment Committee - NCDs of the Company in its meeting held on 31 March 2017 approved and allotted 950 Secured Redeemable Rated Listed Non-Convertible Debenture of face value of Rs. 10,00,000/- (Rupees Ten Lakh only) each, aggregating to Rs. 95 crore on private placement basis.

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Board of Rander Corporation appoints directors
Mar 31,2017

Rander Corporation announced that the Board of Directors at its meeting held on 30 March 2017 has considered and approved the following -

1. Appointment of Jitesh Kumar Rander (DIN: 02739297) as an Additional Independent Director w.e.f 30 March 2017.

2. Appointment of Pournima Gopale as an Internal Auditor of the Company for Financial Years 2016-17 and 2017-18

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Service charge on online booking of tickets has been withdrawn for the railway tickets booked from 23 November 2016 to 31 March 2017
Mar 31,2017

In order to help passengers and incentivize the payment through digital modes for booking of reserved tickets, service charge on online booking of tickets has been withdrawn for the tickets booked from 23 November 2016 to 31 March 2017. Approximately, an amount of Rs 184 crore has not been realized from passengers on account of service charge and service tax thereon on reserved tickets booked online from 23 November 2016 to 28 February 2017.

With a view to promoting cashless transaction on Indian Railways, various initiatives have been taken including the following:-

i. The facility of online booking of reserved ticket has been provided through Indian Railway Catering and Tourism Corporation (IRCTC) website. The payment for tickets booked through IRCTC website is made through various cashless modes such as net banking, through credit/debit cards, cash cards and e-wallets. Further, to incentivize cashless transaction, service charge on online booking of tickets has been withdrawn for the tickets booked from 23.11.2016 to 31.03.2017.

ii. The facility of booking unreserved ticket including journey, season and platform tickets through mobile phone has been introduced in all suburban sections of Central, Western, Southern, Eastern, South Central, South Eastern and Delhi-Palwal section of Northern Railway. Additional payment options under the digital modes have also been introduced to widen the scope of digital payments for purchase of unreserved tickets.

iii. The facility of renewal of season tickets through IRCTC website has been provided for suburban train services on Western and Central Railways wherein payment is made through electronic mode.

iv. It has been decided to install 10,000 Point of Sale (POS) machines in association with State Bank of India at various locations of Indian Railways i.e. PRS locations, UTS locations, Parcel/Goods locations. At present, more than 4100 POS machines have been installed over the Zonal Railways.

v. An advanced Beta version of the mobile application for booking of reserved tickets has also been launched by IRCTC giving additional options of cashless payment.

vi. Service charge applicable on transactions against credit/debit cards for purchasing journey tickets at Unreserved Ticketing System (UTS)/ Passenger Reservation System (PRS) counters has been withdrawn.

vii. Online booking facility for accredited press correspondents on the basis of registered ID card has been launched.

viii. International Credit/ Debit cards issued outside India are accepted for booking of e-tickets through IRCTC website.

ix. Free accidental insurance cover of upto `10 lakh for confirmed/RAC passengers in case of tickets booked online from 10.12.2016 to 31.03.2017.

x. Provision of 0.5% discount on season tickets purchased through digital means with effect from 01.01.2017.

xi. Provision of 5% discount on payment made online for availing services like online booking of retiring rooms with effect from 01.01.2017.

xii. Catering stalls have also been instructed to provide options for making cashless payments.

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Kisan Mouldings launches PE Water Tanks
Mar 31,2017

Kisan Mouldings has entered into PE Water Tanks at its facility in Mahagaon. The tanks will be made using n++state of the art Roto Moulding Technologyn++, and will have a capacity up to 10000 litres of storage. This product is an essential part of the building materials industry and is therefore a natural addition to the Companys product portfolio. The product is formally launched on 31 March 2017 with bookings of nearly 1month capacity received immediately.

The Mahagaon facility will see further lines being installed over the next 2-3 months. The Company has however finalised locations in Kashipur for North India and Mangalore for South India. These regional ventures are expected to commence in the next 2 months as well, perfectly timed for the peak season before the monsoon. The installed capacity of the aforesaid 3 units at the initial stage will be over 100 Tonnes per month each.

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