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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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Lupin in spotlight after launching generic contraceptive pill in US
Mar 17,2017

Lupin announced the launch of Mibelas 24 Fe (Norethindrone Acetate and Ethinyl Estradiol Chewable Tablets, 1mg/0.02mg and Ferrous Fumarate Tablets, 75mg) having received an approval from the United States Food and Drug Administration (FDA) earlier. The announcement was made after market hours yesterday, 16 March 2017.

Lupins Mibelas 24 Fe is the AB rated generic equivalent of Allergan Pharmaceuticals Internationals Minastrin 24 Fe Tablets. It is indicated for use by females of reproductive age to prevent pregnancy. Minastrin 24 Fe chewable tablets had US sales of $360.5 million as per IMS MAT December 2016.

Shoppers Stop announced that it has opened its Shoppers Stop store at Nucleus Mall, Ranchi. With this, the company has now 80 Shoppers Stop (including six airport stores) stores under its operations. The announcement was made after market hours yesterday, 16 March 2017.

Nocil announced that its board at a meeting held on 16 March 2017, approved expansion of capacities of rubber chemicals and their intermediates at the companys plants situated at Navi Mumbai and Dahej. The total capital expenditure envisaged is about Rs 170 crore. The expansion project is likely to be commissioned by the end of Q2 of FY 2019. The capital expenditure will be financed largely through internal accruals. The announcement was made after market hours yesterday, 16 March 2017.

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Music Broadcast to list today
Mar 17,2017

Music Broadcast debuts on the secondary equity market today, 17 March 2017. The company priced the initial public offer (IPO) at Rs 333 per share, the top end of the Rs 324 - Rs 333 price band. The IPO of Music Broadcast ended with strong response from investors. The IPO received bids for 41.58 crore shares compared with 1.04 crore shares on offer. The IPO was subscribed 39.67 times. The issue opened for bidding on 6 March 2017. It closed on 8 March 2017. Music Broadcast, promoted by Jagran Prakashan, operates radio stations under the brand Radio City.

Lupin announced the launch of Mibelas 24 Fe (Norethindrone Acetate and Ethinyl Estradiol Chewable Tablets, 1mg/0.02mg and Ferrous Fumarate Tablets, 75mg) having received an approval from the United States Food and Drug Administration (FDA) earlier. Lupins Mibelas 24 Fe is the AB rated generic equivalent of Allergan Pharmaceuticals Internationals Minastrin 24 Fe Tablets. It is indicated for use by females of reproductive age to prevent pregnancy. Minastrin 24 Fe chewable tablets had US sales of $360.5 million as per IMS MAT December 2016. The announcement was made after market hours yesterday, 16 March 2017.

Reliance Infrastructure announced that its board has approved raising upto Rs 2000 crore by issuing equity shares/other securities convertible into equity shares through qualified institutional placement (QIP), subject to approval of the shareholders of the company. The funds raised from the proposed QIP would be utilized for capitalising on business opportunities in the defence sector, for reduction of debt and for general corporate purposes. The board has also approved the postal ballot notice seeking approval of the shareholders of the company for the said QIP. The announcement was made after market hours yesterday, 16 March 2017.

Shoppers Stop announced that it has opened its Shoppers Stop store at Nucleus Mall, Ranchi. With this, the company has now 80 Shoppers Stop (including six airport stores) stores under its operations. The announcement was made after market hours yesterday, 16 March 2017.

Nocil announced that its board at a meeting held on 16 March 2017, approved expansion of capacities of rubber chemicals and their intermediates at the companys plants situated at Navi Mumbai and Dahej. The total capital expenditure envisaged is about Rs 170 crore. The expansion project is likely to be commissioned by the end of Q2 of FY 2019. The capital expenditure will be financed largely through internal accruals. The announcement was made after market hours yesterday, 16 March 2017.

ABG Shipyard will be in focus. With reference to news report titled, Reliance Defence expresses interest in buying Agreed Assests of ABG Shipyard, ABG Shipyard clarified after market hours after market hours yesterday, 16 March 2017, that lenders have invited expression of interest for acquisition of majority shareholding in ABG Shipyard. Accordingly, few parties have expressed their interest. Information/details will be submitted to the Stock Exchanges on completion of the process. The company does not have any information which is required to be disclosed to stock exchanges in terms of SEBI (LODR) Regulations, 2015, it said in a statement.

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Board of AGC Networks accepts resignation of director
Mar 16,2017

The Board of AGC Networks at its meeting held on 16 March, 2017 inter-alia noted and accepted the resignation dated 16 March, 2017 tendered by Dr. Sujaya Banerjee from the designation of Non-Executive Non-Independent Director of the Company with immediate effect.

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Board of Spice Mobility approves sale of Kimaan Exports to Spice Digital
Mar 16,2017

Spice Mobility announced that the Board of Directors of the Company at its meeting held on 16 March 2017 has approved the sale of entire stake in Kimaan Exports, a wholly owned subsidiary, to Spice Digital, another subsidiary of the Company. Consequent to this, Kimaan Exports will cease to be a wholly owned subsidiary of the Company and become step down subsidiary of the Company

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Cipla allots 38,333 equity shares
Mar 16,2017

Cipla has allotted 38,333 equity shares of Rs 2 each under ESOS 2013-A. Consequently, the issued share capital has increased to 80,55,13,469 equity shares of Rs 2 each. The paid up share capital has increased to 80,45,10,074 equity shares of Rs 2 each.

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Axis Bank reviews MCLR rates
Mar 16,2017

Axis Bank has reviewed and decided to keep the MCLRs of the Bank unchanged. This will be effective from 18 March 2017.

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Marico commences commercial production at its 2nd plant in Guwahati
Mar 16,2017

Marico announced that the Companys new plant situated in Guwahati, Assam set up to manufacture value added personal care products has successfully commenced its commercial production on 16 March 2017.

This is the second plant of the Company in Guwahati which is now operational. The first plant, manufacturing value added hair oils commenced operations on 27 May 2016.

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Megasoft bags contract from Bihar State Electronics Development Corporation
Mar 16,2017

Megasoft announced the award of cloud-enabled solution & services contract by the Bihar State Electronics Development Corporation. The state Government of Bihar, through BELTRON, plans to establish state-of-the-art cloud computing facility for use by its various e-Governance programs and other IT-driven initiatives.

The cloud-enabled State Data Centre (SDC) named Bihar Cloud is one of the important elements for supporting initiatives of National e-Governance Plan (NeGP). The primary purpose of the cloud computingsolution is to establish a viable Private cloud environment for use by the various e-Governance applications of Bihar.

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Corporation Bank to issue Basel III compliant AT-1 Bonds worth Rs 500 crore
Mar 16,2017

Corporation Bank is issuing BASEL III Compliant AT-1 Bonds (Series II) aggregating Rs 500 crore on private placement basis.

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Union Bank of India gets ratings assigned for proposed AT-I bonds issue of Rs 1500 crore
Mar 16,2017

Union Bank of India announced that Brickwork Ratings India has assigned BWR AA+/Stable rating to the Banks proposed fresh issue of Basel III compliant Additional Tier 1 bonds of Rs.1500 crore.

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Union Bank of India decides to issue AT-1 Bonds aggregating Rs 250 cr
Mar 16,2017

Union Bank of India has decided to issue Additional Tier 1 Basel III compliant bonds of Rs.250 crore in favor of Prime Ministers National Relief Fund.

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MphasiS fixes record date for buyback of shares
Mar 16,2017

MphasiS has fixed 31 March 2017 as record date for purpose of buyback of shares.

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Somany Ceramics gets revision in credit ratings
Mar 16,2017

Somany Ceramics announced that CRISIL has upgraded its rating for the Company as follows:

Long- Term Rating - CRISIL AA-/ Stable (Upgraded from CRISIL A+/Positive)

Short Term Rating - CRISIL A1+ (Reaffirmed)

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Techno Electric & Engineering Company transfers wind power assets to subsidiary
Mar 16,2017

Techno Electric & Engineering Company announced that the Company has transferred 12 MW Wind Power assets situated in the state of Karnataka to its wholly owned subsidiary company, Simran Wind Project against issue of shares in the subsidiary company. The effective valuation of the said assets is Rs 45.64 crore.

Post this transfer, the Company does not hold any wind assets in its portfolio and the wind power assets of its subsidiary, Simran Wind Project has increased to 129.9 MW.

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Aditya Birla Nuvo temporarily shut downs Ammonia and Urea plants
Mar 16,2017

Aditya Birla Nuvo has temporarily shut down its Ammonia/ Urea plants at Jagdishpur, Uttar Pradesh from 17 March 2017 for the purpose of the planned maintenance program for annual turnaround. The plants are expected to resume operations from 10 April 2017.

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