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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 Aadhaar Ventures India to consider change in FV of shares
Nov 15,2016

Aadhaar Ventures India announced that the meeting of Board of Directors of the Company will be held on 01 December 2016, inter alia, to consider the change the face value of the Equity shares of the Company.

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Board of HPCL approves proposal to participate in proposed refinery and petrochemical complex
Nov 15,2016

Hindustan Petroleum Corporation announced that the Board of Directors in its meeting held on 15 November 2016, have considered the proposal to participate in the proposed 60 MMTPA Grass Root Refinery and Petrochemicals Complex on the West Coast in Maharashtra in consortium with other partners.

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Vardhman Industries announces change in directorate
Nov 15,2016

Vardhman Industries announced that Radhika Gupta has tendered her resignation from the directorship of the Board of the Company with effect from 14 November 2016.

Further the Company has informed that, Neelam Sharma has appointed Director of the Company with effect from 14 November 2016 by the Board of Directors in their meeting held on 14 November 2016

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Elevated Global Yields, Benign Domestic Conditions to Keep Markets Choppy
Nov 15,2016

Rising global yields are posing challenges for markets at a time when domestic developments are anchoring investment interests, says India Ratings and Research (Ind-Ra). Domestically, currency and debt markets will take cues from global developments while considering domestic inflation data and interbank liquidity conditions. The 10-year G-sec yield could trade at 6.64%-6.74% (6.72% at close on 11 November 2016). The rupee is likely to trade at 67.25/USD-67.95/USD (67.25/USD at close on 11 November 2016).

Demand Boost for Bonds, Global Risks Continue: With a large cash component (INR14.1trn currency consists of INR500 and INR1000 notes at an aggregate level) entering the banking channel, the first impact will be a deposit boost. This durable increase in the deposit base will create more demand for government bonds and other high rated bonds in an environment of tepid credit demand. Additionally, benign retail inflation trajectory will keep aid investors appetite for bonds. Headwinds to bond market momentum will emerge from a surge in global bond yields - US 30-year and 10-year treasury yields surged over 50bp in less than a month to 2.96% and 2.25% respectively, following the alignment post the US election outcome.

Improvement in Liquidity Conditions: Interbank liquidity will increase as a large amount of cash in circulation moves in to the formal banking channel - translating to almost no scope for open market purchase operations. The sharp improvement in interbank liquidity and deposit will lead to a reduction in certificate of deposits issuances and a drop in deposit rates.

Rupee Weakening Bias to Intensify: As the dust settles following the US presidential elections and as investors ascertain implications of the outcome, risk aversion sentiment dominates globally. Additionally, the US Feds stance on rates is in focus, keeping the dollar firm. The rupee has emerged as a low beta asset among the major Asian currencies, exhibiting relative stability. This resilience is likely to continue, keeping it anchored on account of domestic fundamentals. However, vulnerability to global sentiments will keep the currency trading with a depreciation bias in the near term.

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Volumes jump at ACC counter
Nov 15,2016

ACC clocked volume of 84.80 lakh shares by 13:24 IST on BSE, a 448.40-times surge over two-week average daily volume of 19,000 shares. The stock fell 2.50% to Rs 1,363.45.

Ambuja Cements notched up volume of 4.45 crore shares, a 221.22-fold surge over two-week average daily volume of 2.01 lakh shares. The stock fell 3.53% to Rs 211.70.

Future Lifestyle Fashions saw volume of 9.53 lakh shares, a 132.43-fold surge over two-week average daily volume of 7,000 shares. The stock fell 5.55% to Rs 120.80.

INOX Leisure clocked volume of 4.09 lakh shares, a 27.86-fold surge over two-week average daily volume of 15,000 shares. The stock fell 1.81% to Rs 233.50.

Astral Poly Technik saw volume of 1.49 lakh shares, a 27.07-fold rise over two-week average daily volume of 6,000 shares. The stock fell 5.09% to Rs 394.70.

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Lupin launches generic Activellan++ Tablets
Nov 15,2016

Lupin has launched AmabelzTM Tablets (Estradiol and Norethindrone Acetate Tablets USP, 0.5 mg/ 0.1 mg and 1 mg/ 0.5 mg) having USFDA approval earlier, to market a generic version of Amneal Pharmaceuticals Activellan++ Tablets.

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Bharat Heavy Electricals secures export orders for supply of industrial motors
Nov 15,2016

Bharat Heavy Electricals has secured export orders for supply of industrial motors to Togo and Benin from Scancem International DA, Norway (Heidelberg Cement Group). The motors will be manufactured at the Companys Bhopal unit.

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Thakral Services (India) appoints company secretary
Nov 15,2016

Thakral Services (India) has appointed Sowmya B S as Company Secretary of the Company with effect from 14 November 2016.

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BLS International Services fixes record date for interim dividend
Nov 15,2016

BLS International Services has fixed 24 November 2016 as the Record Date for the purpose of payment of Interim Dividend.

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MOIL slides after poor Q2 financials
Nov 15,2016

The result was announced on Monday, 14 November 2016, when the stock markets were closed for a public holiday.

Meanwhile, the BSE Sensex was down 366.43 points, or 1.37%, to 26,452.39

On BSE, so far 48,000 shares were traded in the counter, compared with average daily volume of 2.05 lakh shares in the past two weeks. The stock hit a high of Rs 326 and a low of Rs 310.65 so far during the day. The stock hit a 52-week high of Rs 387.90 on 2 November 2016. The stock hit a record low of Rs 180.10 on 12 February 2016.

The mid-cap company has equity capital of Rs 133.19 crore. Face value per share is Rs 10.

MOIL produces and sells different grades of manganese ore. Government of India currently holds 75.58% stake in MOIL (as per the shareholding pattern as on 11 October 2016).

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Board of Centum Electronics allots equity shares under ESOP
Nov 15,2016

The Board of Centum Electronics approved the allotment of 34,101 equity shares under Centum ESOP 2007 & ESOP 2013 plan.

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Divis Lab drops after poor Q2 result
Nov 15,2016

The result was announced on Saturday, 12 November 2016. The stock markets were closed on Monday, 14 November 2016, for a public holiday.

Meanwhile, the BSE Sensex was down 412.89 points, or 1.54%, to 26,405.93

On BSE, so far 34,000 shares were traded in the counter, compared with an average volume of 19,000 shares in the past two weeks. The stock hit a high of Rs 1,201.05 and a low of Rs 1,111 so far during the day. The stock hit a record high of Rs 1,380 on 16 September 2016. The stock hit a 52-week low of Rs 918.10 on 29 February 2016.

The large-cap company has an equity capital of Rs 53.09 crore. Face value per share is Rs 2.

Divis Laboratories paid a one time ex-gratia of Rs 79 crore in Q2 September 2016 to the employees and whole-time directors on the occasion of completion of 25 years of formation of the company. Forex loss amounted to Rs 11 crore in Q2 September 2016 as against a gain of Rs 12 crore in Q2 September 2015, Divis Laboratories said.

Divis Laboratories is primarily engaged in the manufacture of active pharmaceutical ingredients (APIs) & intermediates for generics, custom synthesis of APIs and advanced intermediates for discovery compounds for pharma giants, building blocks for peptides, building blocks for nucleotides, carotenoids and chiral ligands.

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Board of Kaya approves change in CEO
Nov 15,2016

The Board of Kaya accepted the resignation of Subramanian S as CEO of the Company and appointed Rajiv Nair as CEO -Kaya India Business with effect from 16 December 2016.

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IIP Continues to Disappoint, Divergence with Industrial GDP to Continue
Nov 15,2016

The continued dismal performance of factory output, particularly in manufacturing, in the run-up to the festival season in October 2016 is a clear pointer that a recovery is nowhere in sight, says India Ratings and Research (Ind-Ra). The Index of Industrial Production (IIP) grew at a marginal 0.7% yoy in September 2016 and negative 0.1% yoy for 1HFY17.

Although the broad trend shown by the IIP data reflects the state of affairs prevailing in the industrial sector in India, these numbers need to be taken with a pinch of salt. The old base of 2004-2005 for IIP broadly reflects the corporate mood; but it is somewhere missing the point by not capturing the output getting generated in the new industrial/ manufacturing segments. This was clearly reflected in the dichotomy witnessed in the IIP and the industrial gross valued added data for 1QFY17. So maybe it is also the time to not read too much into the IIP data with 2004-2005 base and wait for the IIP data with 2011-2012 base to make full sense of the industrial output trend.

The consumer durables sector has sustained positive growth rates since June 2015. This was to be reflected in improved performance in manufacturing prior to the start of the festival season. However, although consumer durables clocked robust growth of 14% yoy in September 2016 and 7.6% yoy in 1HFY17, this has not resulted in a boost in manufacturing output. Manufacturing output grew at 0.9% yoy in September 2016.

At the use-base level, capital goods output contracted 21.6% yoy in September 2016 against a contraction of 22.1% yoy in the previous month. Capital goods output contracted 21.4% during 1HFY17, which serves to reinforce the lack of investment demand in the economy already evident from monthly numbers. Cable, rubber insulated once again pulled down capital goods growth (negative 3% contribution to overall IIP); this sector has been very volatile and in the past also was responsible for a sharp contraction in capital goods output. The primary reason for this has been the small number for respondents/factories and the long turnaround time of production which are recognised as the output. Basic and intermediate goods growth came in at low single digit levels. Consumer non-durables growth, although positive after two consecutive months of negative growth, came in at a negligible 0.1% in September 2016.

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Board of Jumbo Bag approves change in CFO
Nov 15,2016

The Board of Jumbo Bag approved the resignation of G P Ramraj from post of CFO and approved the appointment of G P N Gupta, Whole Time Director as CFO with immediate effect. The Board also approved the resignation of R Kavitha from position of Company Secretary with immediate effect.

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