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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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Huhtamaki PPL intimates of its investment & modernisation plans
Oct 24,2016

Huhtamaki PPL announced that the Company is setting up a new Flexible Packaging manufacturing unit in Assam which is likely to be commissioned during the first half of 2017, to better service its customers based in North East India.

The Companys subsidiary, Webtech Labels, is setting up a new label manufacturing unit in Sikkim, to service its customers based in North East India and likely to be commissioned during the first half of 2017. Further, the main Label manufacturing unit of Webtech Labels, located at Mahape, Navi Mumbai, primarily catering to Pharma companies will be relocated to a new state of the art facility in the Greater Mumbai Region by the end of 2017.

The combined value of these investments/modernisation is expected to be approximately Rs. 65 crore.

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Bank card fraud was waiting to happen, says ASSOCHAM-Mahindra SSG
Oct 24,2016

The credit/debit/ATM card frauds as detected by some of the largest banks were waiting to happen as India has been on the radar of the global cyber criminals who hack into the computer servers using the malware, putting the entire financial structure into a big risk, an ASSOCHAM-Mahindra SSG joint study had forewarned.

Shocked that we are by such large volume of frauds forcing most of the big banks to recall their swiping cards resulting into not only a huge financial losses but also raising a question mark on our cyber security, the ASSOCHAM has been continuously sensitising the government, RBI and the banks against the unfolding cyber risks, the study said.

He said an ASSOCHAM-Mahindra SSG study published recently pointed out that India has become a favourite hunting ground for global hackers and criminals. In fact, according to this study, India was the third biggest target for these hackers after the US and Japan.

A rapid increase in the use of computers and the emergence of the Internet in particularly in the last few decades has led to the evolution of cyberspace. Cyberspace is borderless and anonymous due to which it becomes difficult to actually trace the origin of any kind of cyber attack. The study had further noted that mobile frauds are an area of concern for companies as 35-40% of financial transactions are done via mobile devices and this menace is expected grow to 60-65% by 2017.

Credit and debit card fraud cases top the chart of cybercrimes. There has been a sixfold increase in such cases over the past three years. According to the data, about 42% complaints of online banking related to/credit/debit card fraud followed by Facebook (31%)-related complaints (morphed pictures/cyber stalking/cyber bullying). Other major cyber complaints were cheating through mobile (12%), hacking of e-mail ID (10%), abusive/offensive/obscene calls and SMS (5%), and others.

These attacks have been observed to be originating from the cyberspace of a number of countries including the US, of Europe, Brazil, Turkey, China, Pakistan, Bangladesh, Algeria and the UAE.

Andhra Pradesh, Karnataka and Maharashtra have occupied the top three positions when it comes to cybercrimes registered under the new IT Act in India.

Phishing attacks of online banking accounts or cloning of ATM/debit cards are common occurrences. The increasing use of mobile/smartphones/tablets for online banking/financial transactions has also increased the vulnerabilities to a great extent. The maximum offenders came from the 18-30 age group, the report added.

Internet frauds alone have cost India a whopping 4 billion $(about Rs 24,630 crore) in 2013 as cyber criminals are using more sophisticated means like ransom ware and spear-phishing, the report said.

During the years 2011, 2012, 2013 and 2014, a total number of 21,699, 27,605, 28,481 and 36,554 Indian websites were hacked by various hacker groups spread across worldwide. In addition, during these years, a total number of 13,301, 22,060, 71,780 and 95,189 security incidents, respectively, showing a sharp increasing trend. The total number of security incidents reported to CERT-In has been on the rise.

There is urgent need for having public-private-partnership (PPP) in cyber security for protecting the critical online data and creating awareness amongst the public. Internet has many stakeholders and the government is involved in terms of making laws and the private sectors are involved in creating technologies like hardware, software and so on and this cant be seen in an isolated manner thats why PPP model is important. The fifth domain warfare is real and expanding at a rate which is more concerning, ISIS use cyber space for expanding its base and support is glaring example of this.

Cyberattacks around the world are occurring at a greater frequency and intensity. Operating securely in the cyber environment is among the most urgent issues facing the government, industry and individuals. It is important to take proactive measures rather than reactive methods as building safe environments will always be the best line of defence against rising cybercrime. Safety first through security by design should be the motto. Security by design ensures reduction in overall cost to the business and increases the efficiency of the system by making it robust and secure.

The government and regulators should develop comprehensive cyber security policies and frameworks from the perspective of incentives, tax breaks and technological development. The policies should be such that they encourage private sector participation in public sector research and promote the commercialisation of research and development and intellectual property.

Effective mechanisms should be established to ensure coordination and cooperation between various countries. India should ensure active collaboration with the other countries and global cyber security agencies through international treaties, bilateral agreements and Memorandum of Understandings in order to understand the latest threats and take proactive security measures.

The government, and specifically the regulators, should look at developing sector-specific policies and frameworks tailored to meet the requirements of the particular sector in order to strengthen cyber security in that domain and ensure compliance with the defined security standards.

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Yes Bank announces cessation of directors
Oct 24,2016

Yes Bank announced that M. R. Srinivasan, Non-Executive Non-Independent Director and Diwan Arun Nanda, Independent Director of the Bank have on 22 October 2016 completed their tenure as Directors on the Board of the Bank in terms of RBI approval dated 04 March 2015.

Accordingly, M. R. Srinivasan and Diwan Arun Nanda cease to be Directors on the Board of the Bank at the close of business on 22 October 2016.

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Wipro slips after weak Q2 results
Oct 24,2016

The result was announced after market hours on Friday, 21 October 2016.

Meanwhile, the BSE Sensex was up 2.31 points, or 0.01%, to 28,079.49.

On BSE, so far 4.38 lakh shares were traded in the counter, compared with average daily volume of 2.59 lakh shares in the past one quarter. The stock hit a high of Rs 494.80 and a low of Rs 478.10 so far during the day. The stock hit a 52-week high of Rs 606.75 on 20 April 2016. The stock hit a 52-week low of Rs 470 on 29 September 2016. The stock had outperformed the market over the past 30 days till 21 October 2016, rising 3.68% compared with 2.42% decline in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 7.12% as against Sensexs 0.99% rise.

The large-cap company has equity capital of Rs 486.16 crore. Face value per share is Rs 2.

During the quarter, Wipros non-GAAP constant currency IT services segment revenue in dollar terms grew 0.9% over Q1 June 2016 and grew 7.2% over Q2 September 2015. IT services segment revenue was $1916.30 million, a decrease of 0.8% over Q1 June 2016 and an increase of 4.6% over Q2 September 2015.

IT services segment profits fell 5% to Rs 2340 crore on 9% increase in revenue to Rs 13140 crore in Q2 September 2016 over Q2 September 2015. Wipro expects revenues from its IT services business to be in the range of $1,916 million to $1,955 million in the year ending March 2017.

Wipro is a leading information technology, consulting and business process services company that delivers solutions to enable its clients do business better.

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JK Paper provides update on non-binding offer to BILT Graphic Paper Products
Oct 24,2016

JK Paper announced that subsequent to its non-binding offer to BILT Graphic Paper Products (an Avantha Group company), the company has since submitted a tentative offer and draft term sheet to BGPPL regarding the proposed acquisition of two units of BGPPL located at Ballarpur and Ashti in Maharashtra which manufacture pulp, paper, paper boards and other paper products.

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Inox Wind bags repeat order for 50 MW wind power project
Oct 24,2016

Inox Wind has bagged repeat order from ReNew Power Ventures for a 50 MW wind power project to be executed in the State of Gujarat. The orders will be executed on turnkey basis and is scheduled to be commissioned by March 2017. The 50 MW order from ReNew is part of the 350 MW of orders announced by Inox Wind on 03 October 2016. As part of the order, Company will supply and install 25 units of its advanced 2MW DFIG 113 rotor dia Wind Turbine Generators for Renew Power.

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Detailed annual plan on spreading awareness about new IPR Policy soon: Controller General of Patents
Oct 24,2016

The Indian Patent Office is soon going to put in place a detailed annual plan in consultation with all stakeholders to spread awareness about the new Intellectual Property Rights (IPR) Policy by conducting workshops, seminars in schools, universities and other such institutions, Controller General of Patents, Designs and Trademarks, Mr O.P. Gupta said at an ASSOCHAM event.

n++As part of awareness program, we as Indian Intellectual Property office are interacting with all possible stakeholders and working out a detailed programme so that we may conduct workshops in schools, colleges, universities, seminars together with industry and academia and specific programs for specific industries like SMEs and certain other specialised fields,n++ said Mr Gupta.

n++The idea is to spread awareness, as more and more people become aware, it serves our purpose,n++ he said.

n++We simultaneously try to promote and encourage people to take up programs on their own and involve larger communities whereby we involve agriculturists, farmers and producers on a larger scale,n++ added Mr Gupta.

Talking about the implementation in terms of enforcement aspect of IPR, he said, n++The IPR Policy does talk about that, those steps are being taken, toolkits are being prepared which will circulated to various police stations and other law enforcement agencies.n++

Highlighting that all commercial courts are also now listening to all IPR related matters, he said, n++With law universities and judiciary we are already conducting training programs in different places they are also part of the outreach programs.n++

Mr Gupta said that the basic idea of IPR Policy is to provide an ecosystem which encourages individuals and corporate entities for risk taking for putting in their efforts, money, labour so that they also derive reasonable benefits out of their own efforts. n++But the underlined larger focus still is that all this has to benefit to the society as a whole and India in particular.n++

n++There is a need to foster a kind of an ecosystem and provide an environment to all whereby awareness spreads not only by way of programs which we conduct but people inculcate this as part of their culture,n++ he added.

He also said that creation/innovation and protection are two different aspects of the IP regime. n++When you talk about creation and innovation, it is more about kind of inculcating a culture, providing protection is in terms of seeking balance between both these aspects.n++

Elaborating on this, he said that the main objective of IPR policy is actually to inculcate generative aspect of it and there is certainly not the main thrust on protection.

n++The idea is that whosoever is seeking IP protection in India, should get it in a reasonable period of time without much problems and that kind of facilitation regime in terms of IP administration and management will be and should be provided through this policy,n++ said Mr Gupta.

He added that it is not that number of filings that need to go up necessarily but whosoever seeks protection should get it in specified timeframe with minimum problems/difficulties is the main objective of the IPR Policy.

In his address at the ASSOCHAM conference, Dr H. Purushotham, chairman and managing director (CMD), National Research Development Corporation (NRDC) said that promotion of IPR is imperative to bring equilibrium between knowledge and wealth creation.

n++It is imperative to introduce IPR as a subject in schools and colleges and make it compulsory to promote its awareness,n++ said Mr Purushotham.

He also said that it is also significant to address the issue of poor patent filing in India to position it as a top innovative nation in the world.

He also suggested the Indian Patent Office to strengthen the existing systems and mechanisms vis-n++-vis IPR rather than bring up new ones to avoid duplication of efforts.

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Environment Minister Constitutes Monitoring Committee to Oversee Outbreak of H5 Avian Influenza; Committee to Submit Daily Report
Oct 24,2016

Acting swiftly on the reports of mortality among the birds in National Zoological Park, Delhi NCR and other parts of the country due to H5 Avian Influenza Virus, Minister of Environment, Forest and Climate Change, Shri Anil Madhav Dave, has directed to constitute a monitoring committee for overseeing outbreak of H5 Avian Influenza in the country. The composition of committee is as follows :-

1. Member Secretary Central Zoo Authority Chairman

2. Director National Zoological Park Member Convenor

3. Deputy Inspector General of Forest (WL) Member

The committee will oversee the daily incidences of H5 Avian Influenza in National Zoological Park and other Zoos of the country and submit a daily report to the Environment Minister.

There has been no mortality among the free-ranging birds of the National Zoological Park. However, to control the disease following actions are being taken :-

1. Active surveillance continues in the zoo;

2. Zoo is being screened regularly for any dead bird;

3. Bio-security measures continue;

4. Zoo remains closed for the safety of visitors and to control the disease;

5. A team of doctors from Animal Husbandry Department visited Delhi Zoo for monitoring ;

6. A team of medical doctors visited and examined exposed employees of the zoo and medication was provided.

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Wipro in focus after Q2 results
Oct 24,2016

Wipros consolidated net income fell 8% to Rs 2070 crore on 10% increase in gross revenues to Rs 13770 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours on Friday, 21 October 2016.

During the quarter, non-GAAP constant currency IT services segment revenue in dollar terms grew 0.9% over Q1 June 2016 and grew 7.2% over Q2 September 2015. IT services segment revenue was $1916.30 million, a decrease of 0.8% over Q1 June 2016 and an increase of 4.6% over Q2 September 2015.

IT services segment profits fell 5% to Rs 2340 crore on 9% increase in revenue to Rs 13140 crore in Q2 September 2016 over Q2 September 2015. Wipro expects revenues from its IT services business to be in the range of $1,916 million to $1,955 million.

On a consolidated basis, net profit of Cairn India rose 139.16% to Rs 778.70 crore on 9.08% decline in net sales to Rs 2038.59 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours on Friday, 21 October 2016.

Sun Pharmaceutical Industries said it completed the divestment of its seven prescription brands in India to RPG Life Sciences. This has been done after receiving approval of the Competition Commission of India and completion of all the necessary formalities for closure of the transaction, Sun Pharmaceutical Industries said in a filing. On 27 July 2016, Sun Pharma had informed that it had signed an pact with RPG Life Sciences to divest seven brands in India, owned by the company and its subsidiary, for a consideration of Rs 41 crore. The announcement was made after market hours on Friday, 21 October 2016.

The board of JK Lakshmi Cement in its meeting on 26 October 2016 will consider issuing non-convertible debentures (NCDs) of upto Rs 500 crore, in one or more tranches, on private placement basis subject to requisite approval of the shareholders. The announcement was made after market hours on Friday, 21 October 2016.

Union Bank of India said its board will meet on 26 October 2016 to consider raising of capital funds through various means. The announcement was made after market hours on Friday, 21 October 2016.

Great Eastern Shipping Company (GE Shipping) said it signed a contract to buy a Supramax Dry Bulk Carrier of about 58,000 deadweight tonnage (dwt). The 2009 built vessel is expected to join the companys fleet in Q3 December 2016. The companys current fleet stands at 37 vessels, comprising 24 tankers (7 crude carriers, 15 product tankers, 2 LPG carrier) and 13 dry bulk carriers (1 Capesize, 7 Kamsarmax, 5 Supramax) with an average age of 8.93 years aggregating 2.88 mn dwt. Additionally, the company has 1 Newbuilding Kamsarmax on order. The announcement was made after market hours on Friday, 21 October 2016.

Net profit of RPG Life Sciences rose 300.39% to Rs 10.25 crore on 13.66% rise in net sales to Rs 76.38 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours on Friday, 21 October 2016.

Net profit of SKF India rose 20.42% to Rs 60.26 crore on 10.65% rise in net sales to Rs 654.55 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours on Friday, 21 October 2016.

On a consolidated basis, net profit of Oberoi Realty rose 12.45% to Rs 83.72 crore on 32.62% rise in net sales to Rs 250.85 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours on Friday, 21 October 2016.

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Innovassynth Investments reports standalone net loss of Rs 0.14 crore in the September 2016 quarter
Oct 22,2016

Net Loss of Innovassynth Investments reported to Rs 0.14 crore in the quarter ended September 2016 as against net loss of Rs 0.12 crore during the previous quarter ended September 2015. There were no Sales reported in the quarter ended September 2016 and during the previous quarter ended September 2015.

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BFL Developers standalone net profit declines 47.37% in the September 2016 quarter
Oct 22,2016

Net profit of BFL Developers declined 47.37% to Rs 0.10 crore in the quarter ended September 2016 as against Rs 0.19 crore during the previous quarter ended September 2015. Sales declined 94.12% to Rs 0.03 crore in the quarter ended September 2016 as against Rs 0.51 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales0.030.51 -94 OPM %400.0043.14 - PBDT0.100.19 -47 PBT0.100.19 -47 NP0.100.19 -47

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Jenburkt Pharmaceuticals standalone net profit rises 46.65% in the September 2016 quarter
Oct 22,2016

Net profit of Jenburkt Pharmaceuticals rose 46.65% to Rs 5.03 crore in the quarter ended September 2016 as against Rs 3.43 crore during the previous quarter ended September 2015. Sales rose 13.85% to Rs 28.61 crore in the quarter ended September 2016 as against Rs 25.13 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales28.6125.13 14 OPM %24.2620.89 - PBDT7.455.78 29 PBT7.005.31 32 NP5.033.43 47

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Persistent Systems consolidated net profit declines 6.36% in the September 2016 quarter
Oct 22,2016

Net profit of Persistent Systems declined 6.36% to Rs 73.49 crore in the quarter ended September 2016 as against Rs 78.48 crore during the previous quarter ended September 2015. Sales rose 29.72% to Rs 704.02 crore in the quarter ended September 2016 as against Rs 542.73 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales704.02542.73 30 OPM %15.7418.87 - PBDT135.12129.46 4 PBT98.44105.03 -6 NP73.4978.48 -6

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Jayant Agro Organics consolidated net profit rises 183.67% in the September 2016 quarter
Oct 22,2016

Net profit of Jayant Agro Organics rose 183.67% to Rs 14.07 crore in the quarter ended September 2016 as against Rs 4.96 crore during the previous quarter ended September 2015. Sales rose 19.20% to Rs 379.62 crore in the quarter ended September 2016 as against Rs 318.46 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales379.62318.46 19 OPM %8.546.06 - PBDT24.9510.33 142 PBT22.137.49 195 NP14.074.96 184

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Persistent Systems standalone net profit rises 9.65% in the September 2016 quarter
Oct 22,2016

Net profit of Persistent Systems rose 9.65% to Rs 73.72 crore in the quarter ended September 2016 as against Rs 67.23 crore during the previous quarter ended September 2015. Sales rose 21.49% to Rs 422.49 crore in the quarter ended September 2016 as against Rs 347.75 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales422.49347.75 21 OPM %20.2024.68 - PBDT110.90112.10 -1 PBT95.7797.62 -2 NP73.7267.23 10

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