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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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Sical Logistics to hold board meeting
Oct 27,2016

Sical Logistics will hold a meeting of the Board of Directors of the Company on 7 November 2016, to consider the unaudited financial results for the quarter ended 30 September 2016

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Chankya Investments to hold board meeting
Oct 27,2016

Chankya Investments will hold a meeting of the Board of Directors of the Company on 10 November 2016, to consider and take on record the unaudited Financial Results for the quarter ended 30 September 2016.

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Focus Industrial Resources to hold board meeting
Oct 27,2016

Focus Industrial Resources will hold a meeting of the Board of Directors of the Company on 14 November 2016, to consider and take on record the Unaudited Financial Results for the Quarter ended 30 September 2016 along with the Limited Review Report.

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Centenial Surgical Suture to hold board meeting
Oct 27,2016

Centenial Surgical Suture will hold a meeting of the Board of Directors of the Company on 11 November 2016.

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Kshitij Investments to hold board meeting
Oct 27,2016

Kshitij Investments will hold a meeting of the Board of Directors of the Company on 4 November 2016, to consider and take on record the unaudited financial results (provisional) for the quarter ended 30 September 2016.

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BNR Udyog to hold board meeting
Oct 27,2016

BNR Udyog will hold a meeting of the Board of Directors of the Company on 11 November 2016, to consider Un-audited financial results for the quarter ended 30 September 2016.

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Nimbus Foods Industries to hold board meeting
Oct 27,2016

Nimbus Foods Industries will hold a meeting of the Board of Directors of the Company on 10 November 2016, to consider and approve the unaudited financial results of the Company for the quarter ended on 30 September 2016

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Sarvamangal Mercantile Co. to hold board meeting
Oct 27,2016

Sarvamangal Mercantile Co. will hold a meeting of the Board of Directors of the Company on 12 November 2016, to consider, approve and take on records text of Un-Audited Financial Results (provisional) for the quarter ended 30 September 2016.

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OTCO International to hold board meeting
Oct 27,2016

OTCO International will hold a meeting of the Board of Directors of the Company on 11 November 2016, to consider, approve and take on record the Un-audited Financial Results for the Quarter ended on 30 September 2016.

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Zenith Health Care to hold board meeting
Oct 27,2016

Zenith Health Care will hold a meeting of the Board of Directors of the Company on 12 November 2016, to consider and approve the unaudited financial results of the Company for the quarter ended on 30 September 2016.

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Moodys: Hyundai Motors rating unaffected by weaker 3Q 2016 results
Oct 27,2016

Moodys Investors Service says that the year-on-year weakening in Hyundai Motor Companys operating results for 3Q 2016 will not impact the automakers Baa1 issuer rating and stable outlook.

Hyundai Motors weaker operating performance in 3Q 2016 was mainly because of a prolonged strike by its labor union in Korea, as well as continued intense competition in the global auto market, says Wan Hee Yoo, a Moodys Vice President and Senior Analyst.

According to the companys announcement on 26 October 2016, Hyundai Motors unadjusted operating margin (ex-finance) fell to 5.0% in 3Q 2016 from 6.4% in 3Q 2015.

The strike by Hyundai Motors labor union in Korea during 3Q 2016 led to a significantly lower utilization rate of its domestic plants, which pressured in turn its profitability. The year-on-year appreciation of the Korean won against US dollar in 3Q 2016 also negatively affected the companys earnings.

These factors more than offset the sales recovery in emerging markets such as China (Aa3 negative), Russia (Ba1 negative) and Brazil (Ba2 negative).

Year-on-year unit shipment growth in 3Q 2016 n++ including sales from its joint venture in China n++ registered negative 3.3%, while global retail sales grew about 1.9% during the same period. These results indicate that the companys inventory levels fell, which has a positive impact on its cash flow.

The growth in retail sales in 3Q 2016 was mainly a result of robust sales in China, India (Baa3 positive) and Western Europe, despite weak performance in the domestic market.

Moodys anticipates that Hyundai Motors auto shipments will rebound in 4Q 2016 to make up for the production loss in 3Q 2016. However, the companys auto shipments should fall by about 1.5% year-on-year for the whole of 2016, owing to weak sales growth in the domestic market, as well as some emerging countries.

The companys reported operating margin (ex-finance) will likely weaken moderately year-on-year to about 6.3% in 2016 from 6.8% in 2015, because of a decline in auto shipments, as well as continued intense price competition. This level of profitability remains consistent with its Baa1 rating category.

Moodys expects Hyundai Motors profitability in 2017 to remain similar to the level seen in 2016, given the persistently challenging operating environment in the global auto industry, and an increase in R&D expenses.

Moodys estimates that Hyundai Motors reported net liquidity holdings (ex-finance) at end-September 2016 are at levels largely similar to the KRW11.4 trillion at end-2015. Such large liquidity holdings continue to provide a key support to its Baa1 rating.

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Solid Carbide Tools announces cessation of directors
Oct 27,2016

Solid Carbide Tools announced that Saurabh Sajjanraj Kothari and Keyur Ramesh Chandra Sanghvi, independent Directors of the Company are no longer associated with the Company as their term of Appointment has been expired and not willing to be re-appointed.

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Torrent Pharma slumps after weak Q2 results
Oct 27,2016

The result was announced after market hours yesterday, 26 October 2016.

Meanwhile, the S&P BSE Sensex was down 143.96 points or 0.52% at 27,692.55

On BSE, so far 49,800 shares were traded in the counter as against average daily volume of 18,533 shares in the past one quarter. The stock hit a high of Rs 1,494 and a low of Rs 1,400.20 so far during the day. The stock had hit a record high of Rs 1,767.80 on 25 August 2016. The stock had hit a 52-week low of Rs 1,190 on 12 February 2016. The stock had underperformed the market over the past 30 days till 26 October 2016, falling 5.4% compared with 1.37% decline in the Sensex. The scrip, however, outperformed the market in past one quarter, gaining 9.07% as against Sensexs 1.32% decline.

The large-cap company has equity capital of Rs 84.61 crore. Face value per share is Rs 5.

Torrent Pharmaceuticals consolidated earnings before interest, taxation, depreciation and amortization (EBITDA) dropped 52.73% to Rs 372 crore in Q2 September 2016 over Q2 September 2015. The company said that Q2 September 2015 period included exceptional revenues and profits which was primarily on account of the launch of a new product launch in the US market which had limited competition. The research and development spend surged 94.74% to Rs 111 crore in Q2 September 2016 over Q2 September 2015.

Torrent Pharmaceuticals is the flagship company of the Torrent Group. The company is engaged in the manufacture of formulations and bulk drugs.

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Asian Granito India gets upgradation in credit ratings
Oct 27,2016

Asian Granito India announced that ICRA, vide its letter dated 24 October 2016 has upgraded the long-term rating from [ICRA] A- (pronounced ICRA A minus) to [ICRA] A (pronounced ICRA A) with a stable outlook and the short term rating from [ICRA] A2+ (pronounced ICRA A two plus) to [ICRA] A1 (pronounced ICRA A one) for the ICRA Rating for Rs. 312 crore Lines of Credit of Asian Granito India.

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IIFL Holdings jumps after good Q2 results
Oct 27,2016

The result was announced after market hours yesterday, 26 October 2016.

Meanwhile, the BSE Sensex was down 120.80 points, or 0.43%, to 27,715.71.

On BSE, so far 36,000 shares were traded in the counter, compared with average daily volume of 49,670 shares in the past one quarter. The stock hit a high of Rs 301.25 and a low of Rs 290.75 so far during the day. The stock hit a 52-week high of Rs 312.20 on 5 August 2016. The stock hit a 52-week low of Rs 163.50 on 29 February 2016. The stock had outperformed the market over the past 30 days till 26 October 2016, rising 2.51% compared with 1.37% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 13.65% as against Sensexs 1.32% decline.

The mid-cap company has equity capital of Rs 63.42 crore. Face value per share is Rs 2.

IIFL Holdings consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) rose 37% to Rs 859.80 crore in Q2 September 2016 over Q2 September 2015.

Loan assets under management in non-banking financial company (NBFC) operations rose 22% to Rs 20474 crore in Q2 September 2016 over Q2 September 2015.

Total wealth assets grew 29% to Rs 100396 crore in Q2 September 2016 over Q2 September 2015.

Nirmal Jain, Chairman, IIFL Holdings, said the company is pleased to report an all round healthy profit growth in core businesses, with return on equity close to 21%. Retail lending, the dominant business continues to witness robust growth and strategic focus is on progressive digital delivery of loans. Wealth management and Capital market businesses are on long term growth trajectory and focus is customer centricity.

IIFL Holdings is the apex holding company of the entire IIFL Group. It offers a gamut of services including financing, wealth and asset management, broking, financial product distribution, investment banking, institutional equities, realty and property advisory services through its various subsidiaries.

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