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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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Sidh Automobiles announces incorporation of 4 subsidiaries
Dec 01,2016

Sidh Automobiles has incorporated 4 subsidiaries under the name and style of -

Urban Organic Products
Wholly Cow Dairy
Sunrise Bliss Organics
Wholly Joy Products
Wholly Organic

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Board of Integrated Capital Services approves draft scheme of merger
Dec 01,2016

Integrated Capital Services announced that the Board of Directors of the Company at its meeting held on 30 November 2016 transacted the following -

Approval of the Draft Scheme of Merger for the proposed merger of Deora Associates, Holding Company holding 69.27% of the fully paid equity shares of the Company, with the Company. The appointed date of the Draft Scheme is 01 October 2016.

Taken on record appointment of Sanjay Agarwal as CFO of the Company.

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Board of Integrated Capital Services approves draft scheme of merger
Dec 01,2016

Integrated Capital Services announced that the Board of Directors of the Company at its meeting held on 30 November 2016 transacted the following -

Approval of the Draft Scheme of Merger for the proposed merger of Deora Associates, Holding Company holding 69.27% of the fully paid equity shares of the Company, with the Company. The appointed date of the Draft Scheme is 01 October 2016.

Taken on record appointment of Sanjay Agarwal as CFO of the Company.

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Cabinet approves Mumbai Urban Transport Project (MUTP)- Phase III
Dec 01,2016

The Union Cabinet, chaired by the Prime Minister, Shri Narendra Modi has approved the Mumbai Urban Transport Project Phase-III.

The estimated cost of project is Rs.8,679 crore with completion cost of Rs.10,947 crore. The project is expected to be completed in the next 5 years during 13th Plan period.

Western Railway is running suburban services on the existing busy double line between Virar-Dahanu Road which is a part of main line Mumbai -Ahmedabad / Delhi route. Main line is already over saturated and there is no scope for supplementing suburban services on this line. Construction of additional double line between Virar-Dahanu Road will address the demand of commuters in this region. This will provide extension of suburban services from Churchgate to Dahanu Road. Panvel-Karjat double line suburban corridor will cater to the significant urbanization and population growth in recent years in this area. This will also provide alternate route from Karjat to CSTM via Panvel which will be shorter by 23 Km than the existing route via Kalyan and will reduce travel time between CSTM to Karjat by 35 to 40 minutes by slow trains.

Presently, passengers commuting from Kalyan to Vashi/ Panvel or in reverse direction, have to get down at Thane and take Trans Harbour link. This results in congestion at Thane which is already a busy station on Central Railway. Airoli-Kalwa corridor will reduce congestion at Thane station and will also save time as these passengers can travel bypassing Thane. Procurement of new coaches will enhance the quality of service and reduce congestion. The works proposed under trespass control at 22 locations shall significantly reduce trespass and will provide safer environment for the public.

The areas covered by this project are Thane, Palghar, Raigad and Mumbai districts of Maharashtra.

Background:

The Mumbai suburban railway network on Central and Western Railways has 376 route Kms. There are five corridors, two on Western Railway, two on Central Railway and one on Harbour Line of Central Railway. Everyday approximately 8 million people travel in suburban section in more than 2900 train services. There is severe overcrowding in the suburban trains specially during peak hours. Due to geographical constraints, spread of the population and location of business areas, the rail network will continue to be the principal mode of mass transport in Mumbai. To meet the demands of the ever growing commuter traffic, new suburban corridor between Panvel-Karjat (28 Route km), new elevated corridor between Airoli-Kalwa( 3 Route km ), quadrupling of Virar-Dahanu Road (63 Route km), procurement of 565 new coaches and trespass control measures in mid sections have been included in Mumbai Urban Transport Project (MUTP)- Phase III.

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Corporation Bank fixes MCLR
Dec 01,2016

Corporation Bank announced the Marginal Cost of Funds based Lending Rated effective from 01 December 2016 -

Overnight - 9.00%
1 month - 9.15%
3 months - 9.20%
6 months - 9.35%
1 year - 9.45%.

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Corporation Bank fixes MCLR
Dec 01,2016

Corporation Bank announced the Marginal Cost of Funds based Lending Rated effective from 01 December 2016 -

Overnight - 9.00%
1 month - 9.15%
3 months - 9.20%
6 months - 9.35%
1 year - 9.45%.

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Shares of LKP Securities get listed
Dec 01,2016

The equity shares of LKP Securities (Scrip Code: 540192) are listed and admitted to dealings on the Exchange in the list of T Group Securities.

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Shares of LKP Securities get listed
Dec 01,2016

The equity shares of LKP Securities (Scrip Code: 540192) are listed and admitted to dealings on the Exchange in the list of T Group Securities.

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PSU OMCs in spotlight after fuel price revision
Dec 01,2016

Stocks of public sector oil marketing companies (PSU OMCs) will be in focus after announcing a revision in petrol and diesel prices with effect from midnight of 30 November/1 December 2016. Indian Oil Corporation (IOCL) yesterday, 30 November 2016, announced an increase in the price of petrol by Rs 0.13 per litre (excluding state levies) and a decrease in the price of diesel by Rs 0.12 a litre (excluding state levies). The movement of prices in the international oil market and rupee-dollar exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes, IOCL said.

Shares of auto companies will be in focus as companies start unveiling monthly sales volume data for November 2016 from today, 1 December 2016.

Wipro announced that it has signed an agreement for divestment of its EcoEnergy division viz. Wipro EcoEnergy on slump sale basis, for a consideration of $70 million. The buyer is Chubb Alba Control Systems (Chubb Alba), an indirect subsidiary of United Technologies Corporation (UTC). The sale is expected to be closed in early 2017, subject to requisite approvals. The announcement was made after market hours yesterday, 30 November 2016.

RBL Bank announced that the Reserve Bank of India (RBI), vide its letter dated 30 November 2016, has granted in-principle approval for opening of international financial services centre banking unit at Gujarat International Finance Tech-City (GIFT), Gujarat. The announcement was made after market hours yesterday, 30 November 2016.

Reliance Communications (RCom) announced that Moodys Investors Service, Inc (Moody) has affirmed B2 corporate family rating and senior secured bond rating given to the companys subsidiary Global Cloud Xchange (GCX). Moody has affirmed the rating to GCX on the heels of announcing the deployment of its Cumulous Network, a major step forward in provisioning next generation connectivity services to support digital transformation and economic growth across India and the emerging markets. The announcement was made after market hours yesterday, 30 November 2016.

Sagar Cements announced that a meeting of the securities allotment committee of the board will be held on 5 December 2016, to consider the allotment of 6.11 lakh shares on a preferential basis to the persons forming part of promoter as well as non-promoter group, as earlier approved by the companys shareholders. The announcement was made after market hours yesterday, 30 November 2016.

Ratnamani Metals & Tubes net profit fell 13.8% to Rs 28.53 crore on 23.83% decline in net total income from operations to Rs 336.03 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 30 November 2016.

Geojit BNP Paribas Financial Services announced that BNP Paribas S A, notified the company that they acquired control of Sharekhan on 23 November 2016.Consequent to the acquisition, Franciska Decuypere and Jean Philippe Huguet nominees of BNP Paribas S A, resigned from the board of directors of the company effective close of business hours of 25 November 2016 and 23 November 2016 respectively. The resignation is in accordance to the terms of restated shareholders agreement entered between the company, BNP Paribas S A, its affiliate and the initial promoters of the company dated 22 January 2016. The announcement was made after market hours yesterday, 30 November 2016.

Hinduja Ventures announced that the committee of directors approved disinvestment of 1.75 crore equity held by the company in Hinduja Energy (India) as per independent valuation of Rs 31.58 per share to third party. The announcement was made after market hours yesterday, 30 November 2016.

The board of directors had approved disinvestment of 1 lakh equity shares held in Induslnd Media and Communications (IMCL) (0.13% of the paid up equity capital of IMCL), unlisted material subsidiary of the company for total consideration amounting to Rs 4.66 crore at a price of Rs 466 per share to a third party, based on IMCL equity valuation of Rs 3444.06 crore as per independent valuation by third party. The holding of the company in IMCL after disinvestment will reduce to 4.46 crore equity shares or 60.43% of the paid up equity share capital of IMCL.

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Reliance Communications provides update on subsidiary - Global Cloud Xchange
Nov 30,2016

Reliance Communications announced that Moodys Investors Service, Inc.(Moody), International rating agency, has affirmed B2 corporate family rating and senior secured Bond rating given to the Companys subsidiary Global Cloud Xchange (GCX). Moody has affirmed the rating to GCX on the heels of announcing the deployment of its Cumulous Network, a major step forward in provisioning next generation connectivity services to support digital transformation and economic growth across India and the emerging markets.

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Larsen & Toubro Infotech acquires Pune based AugmentlQ Data Sciences
Nov 30,2016

Larsen & Toubro Infotech has acquired 100% equity shareholding in AugmentlQ Data Sciences, Pune on 30 November 2016.

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Monnet Ispat & Energy announces resignation of nominee director
Nov 30,2016

Monnet Ispat & Energy announced that the Company has on 30 November 2016 received a letter from Suresh Kishinchand Khatanhar, Nominee Director of IDBI Bank, tendering his resignation from the Board of Directors of the Company w.e.f. 27 November 2016.

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Hemang Resources announces resignation of director
Nov 30,2016

Hemang Resources announced that Varsha Jain has resigned from the position of Director of the Company with effect from 30 November 2016.

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Hindustan Construction Company provides update on arbitral award payment
Nov 30,2016

Hindustan Construction Company has received communications from NHPC and NHAI regarding arbitral award payment. NITI Ayog has given SOP (Standard Operating Procedures) for release of payment for timely implementation. HCC has been asked to reconcile the award within 7 days and thereafter open escrow account and submit bank gurantees within 30 days for recovering the amount. This communication clears the way for HCC for receiving close to Rs 2000 crore within 4-6 weeks.

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Eight core infrastructure output growth inches up to 6.6% in October 2016
Nov 30,2016

The output of eight core infrastructure sector comprising nearly 38% of the weight of items included in the Index of Industrial Production (IIP) has posted healthy 6.6% growth in October 2016 over October 2015. Its cumulative growth during April to October 2016-17 was 4.9%.

Coal production (weight: 4.38%) declined by 1.6% in October 2016 over October 2015. Its cumulative index during April to October 2016-17 increased by 0.7% over corresponding period of previous year.

Crude Oil production (weight: 5.22%) declined by 3.2% in October 2016 over October 2015. Its cumulative index during April to October 2016-17 declined by 3.3% over the corresponding period of previous year.

The Natural Gas production (weight: 1.71%) declined by 1.4% in October 2016 over October 2015. Its cumulative index during April to October 2016-17 declined by 4.0% over the corresponding period of previous year.

Petroleum Refinery production (weight: 5.94%) increased by 15.1% in October 2016 over October 2015. Its cumulative index during April to October 2016-17 increased by 8.9% over the corresponding period of previous year.

Fertilizer production (weight: 1.25%) increased by 0.8% in October 2016 over October 2015. Its cumulative index during April to October 2016-17 increased by 4.8% over the corresponding period of previous year.

Steel production (weight: 6.68%) increased by 16.9% in October 2016 over October 2015. Its cumulative index during April to October 2016-17 increased by 8.5% over the corresponding period of previous year.

Cement production (weight: 2.41%) increased by 6.2% in October 2016 over October 2015. Its cumulative index during April to October 2016-17 increased by 4.8% over the corresponding period of previous year.

Electricity generation (weight: 10.32%) increased by 2.8% in October 2016 over October 2015. Its cumulative index during April to October 2016-17 increased by 4.7% over the corresponding period of previous year.

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