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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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Veronica Production announces new website
Feb 10,2017

Veronica Production announced that the Companys new website address is www.veronicaproduction.com

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Sika Interplant Systems provides update on subsidiary - Sikka N Sikka Engineers
Feb 10,2017

Sika Interplant Systems announced that the Board of Directors of Sikka N Sikka Engineers (Sikka N Sikka), a subsidiary of the Company, has noted the proposal of shifting of the Registered Office of Sikka N Sikka from the State of Maharashtra to State of Karnataka and consequent changes to the Clause II of the Memorandum of Association, subject to the approval of the members and confirmation by the Regional Director, Western Region, Mumbai, Ministry of Corporate Affairs and/or other prescribed authorities.

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Ajmera Realty & Infra India provides update on subsidiary - Ajmera Clean Green Energy
Feb 10,2017

Ajmera Realty & Infra India announced that its subsdiary, Ajmera Clean Green Energy (ACGL) has agreed to sell its entire 49% stake in associate Company, Comet Power (CPPL) to Ramesh A. Mehta Group for a consideration of Rs.16.92 crore.

The Comet Power had Loss of Rs.3.67 Lakhs for the financial year ended 31 March 2016. Thus, sale of Power Business will not have any impact in the Profit of the Company. The sale proceeds of stake in CPPL will be deployed in the Company for core Real Estate business.The Comet Power Private Limited ceases to be associate Company of ACGL after completion of the transaction, which shall be completed on or before March 31, 2016.None of the Promoters are interested in the said transaction and it is not a related party transaction for the Company.

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Board of SRM Energy appoints CFO and company secretary
Feb 10,2017

SRM Energy announced that the Board of Directors of the company at its meeting held on 09 February 2017 approved the appointment of Achyut Pai as CFO with immediate effect. The Board also appointed Ruchi Singh as Company secretary and Compliance officer of the Company with immediate effect.

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Uttam Galva Steels appoints director
Feb 10,2017

Uttam Galva Steels announced the induction of Rajiv Munjal as an Additional Director on the Board of the Company with effect from 09 February 2017 in the category of Non-Executive & Non Independent Director at board meeting held on 09 February 2017.

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Usha Martin Education & Solutions announces resignation of director
Feb 10,2017

Usha Martin Education & Solutions announced that R. P. Agrawal and S. K. Mitra, Independent and Non-Executive Directors of the Company resigned from their position w.e.f. 08 February 2017.

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Board of Marathon Nextgen Realty appoints director
Feb 10,2017

Marathon Nextgen Realty announced that at the Meeting of Board of Directors of the Company held on 09 February 2017, the Board has appointed Deepak R Shah as an Additional Director (Independent Director).

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Two key labour reform bills to come up in Parliament: Labour Minister
Feb 10,2017

As a part of Labour reforms, The Government would introduce two important bills relating to wages and industrial relations in Parliament in March for simplification and rationalisation of the Labour Laws, Labour Minister Mr.Bandaru Dattatreya said.

n++Next week at the inter-ministerial meeting under the chairmanship of Finance Minister Mr. Arun Jaitely, we will take the final decision and after that we will go to the Cabinet. In the March (leg of Budget Session) both the bills would be introduced and I am hopeful it would be passedn++, Mr.Dattatreya said. He said all 43 Labour Laws would be codified into four broad categories.

The Labour Minster said the Central Board of Trustees would consider the proposal to increase the EPFO portfolio in the share market from existing 10 % to 15% from the total corpus. At present as much as Rs. 17000 crore from the EPFO corpus of Rs. 8.70 Lakh crore has already been invested in the stock market.

The minister said the returns on EPFO investment into equities amounted to 8.7-9% annually.

Mr.Dattatreya said with the codification of Labour Laws the industry would see an end to the red tape and inspector Raj while the welfare of the workers would also be ensured.

In response to queries from the ASSOCHAM members, the minister said the minimum wages of skilled and unskilled workers have been fixed keeping in view the rising cost of living.

He also listed initiatives for women work force for whom the maternity leave is being extended from 12 to 23 weeks. The bonus limit for workers has also been increased along with the health benefits being extended by the Employees State Insurance Corporation (ESIC).

In his remarks ASSOCHAM President Mr. Sunil Kanoria said that a fine balance was required between welfare of the workforce and industrial productivity. He complimented the government for taking a number of steps in this direction.

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Board of Central Bank of India approves fund raising up to Rs 500 crore
Feb 10,2017

Central Bank of India announced that the Capital Raising Committee of the Board of Directors of the Bank at their meeting held on 09 February 2017 considered and approved the proposal for raising capital funds upto Rs. 500.00 crore by issuance and allotment of Non-Convertible Redeemable Unsecured Basel III compliant Tier 2 Bonds (Series-II) in the nature of promissory notes of the face value of Rs. 10.00 lakh each on private placement basis.

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Board of Century Enka announces change in CFO
Feb 10,2017

Century Enka announced that pursuant to an exercise undertaken on restructuring the functions of Senior Executives of the Company, the Board of Directors, in its meeting held on 09 February 2017 have appointed K. G. Ladsaria as the Chief Financial Officer (CFO) in place of D. B. Roonghta effective from 13 February 2017.

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Board of Joy Realty announces change in directorate
Feb 10,2017

Joy Realty announced that the Board of Directors of the Company at its meeting held on 09 February 2017 accepted the resignation of Jayant Bhavanji Soni from post of Directorship of the company. The Board appointed Jayant Bhavanji Soni as CFO of the company.

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Board of Weizmann Forex appoints MD
Feb 10,2017

The Board of Directors of Weizmann Forex at its meeting held on 09 February 2017 approved appointment of B Karthikeyan as Managing Director of the Company with effect from 01 March 2017.

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Board of 63 Moons Technologies appoints MD & CEO
Feb 10,2017

63 Moons Technologies announced that the Board of Directors of the company at its meeting held on 09 February 2017 have appointed S Rajendra as MD & CEO in place of Prashant Desai with effect from 10 February 2017.

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PGCIL moves higher after good Q3 result
Feb 10,2017

The result was announced after market hours yesterday, 9 February 2017.

Meanwhile, the S&P BSE Sensex was up 37.45 points or 0.13% at 28,367.15

On BSE, so far 1.10 lakh shares were traded in the counter as against average daily volume of 3.82 lakh shares in the past one quarter. The stock hit a high of Rs 206 and a low of Rs 200.80 so far during the day. The stock had hit a record high of Rs 208.85 on 31 January 2017. The stock had hit a 52-week low of Rs 129.25 on 29 February 2016.

The large-cap company has equity capital of Rs 5231.59 crore. Face value per share is Rs 10.

Power Grid Corporation of India is a state run electric power transmission utility company. The Government of India holds 57.9% stake in the firm as at 31 December 2016.

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Board of ITI approves allotment of 8 crore equity shares to President of India
Feb 10,2017

ITI announced that the Board of Directors in its meeting held on 09 February 2017, considered and approved the issue and allotment of 8,00,00,000 equity shares of Rs. 10 each at par amounting to Rs. 80,00,00,000 to President of India. The said allotment of equity shares is made pursuant to BIFR order dated 08 January 2013, sanctioning the revival scheme of the Company.

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