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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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Pennar Industries to set up JV in United States
Jun 20,2017

Pennar Industries announced that the Executive Finance Committee of the Company at its meeting held on 20 June 2017 approved to set up a joint venture in United States to supply their goods and services.

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Gravita India advances after starting production of polypropylene
Jun 20,2017

The announcement was made during market hours today, 20 June 2017.

Meanwhile, the S&P BSE Sensex was up 27.36 points, or 0.09%, to 31,338.93. The S&P BSE Small-Cap index was up 70.90 points, or 0.45%, to 15,724.87.

On the BSE, 53,907 shares were traded on the counter so far as against the average daily volumes of 1.23 lakh shares in the past one quarter. The stock had hit a high of Rs 82 and a low of Rs 78.80 so far during the day. The stock had hit a 52-week high of Rs 89.05 on 18 May 2017. The stock had hit a record low of Rs 16 on 24 June 2016.

The stock had underperformed the market over the past one month till 19 June 2017, falling 5.91% compared with 2.78% rise in the Sensex. The scrip had outperformed the market in past one quarter, gaining 35.05% as against Sensexs 5.61% gains. The scrip had also outperformed the market in past one year, surging 359.48% as against Sensexs 17.6% gains.

The small-cap company has equity capital of Rs 13.70 crore. Face value per share is Rs 2.

Gravita India said that it has started commercial production of washed polypropylene by installing new automated eco-friendly washing line having annual capacity of 6,000 metric ton per annum (MTPA) at its existing recycling unit situated in Jaipur. The company has made investment of around Rs 1.5 crore on procuring and commissioning of the plant which is invested from internal accruals of the company.

The washing line plant will strengthen the plastic recycling segment of the company and will help in manufacturing more value added products. The company expects an increase of Rs 3 crore in its bottom line after the production.

Gravita India reported consolidated net profit of Rs 10.18 crore in Q4 March 2017 compared with net loss of Rs 0.21 crore in Q4 March 2016. Net sales rose 72% to Rs 201.63 crore in Q4 March 2017 over Q4 March 2016.

Gravita India is engaged in the business of manufacturing of lead metal by recycling & smelting process.

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GE Power India announces change in directorate
Jun 20,2017

GE Power India has appointed Andrew H. DeLeone as an Additional Director of the Company with effect from 20 June 2017. Ashok Ganesan has resigned from the directorship of the Company w.e.f. 20 June 2017.

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Alexander Stamps & Coin provides update on its plans for listing in Germany
Jun 20,2017

The Board of Alexander Stamps & Coins has finalized Investment Banker, DGWA of Germany www.dgwa.org for dual listing of Alexander Stamps and Coins in Germany on Detusche Boerse, for the same purpose a listing partner has been shortlisted and finalized by the board and company shall in near future go ahead with regulatory compliance and formalities to get it listed in Germany.

After this, the Listing Board will go for IPO in Europe.

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Gartner Says the Banking and Securities Industry in India To Grow 8.6 Percent in 2017
Jun 20,2017

The Forecast/ Current Scenario: IT spending by banking and securities firms in India will grow 8.6 percent in 2017 to reach $8.9 billion, according to Gartner, Inc.

Analyst Take: n++The Indian banking sector has undergone a transformation. Banks are gradually lowering the number of branches and increasing capability in terms of their existing infrastructure,n++ said Moutusi Sau, principal research analyst at Gartner. n++Despite effects of demonetization in the banking sector, banks will continue with digital transformation projects.n++

Analysis: Demonetization is the primary reason for the slowdown in the banking and securities market in India. But the effects will be short-lived. The slowing manufacturing sector is also having an indirect effect on the banking and securities sector.

IT services will grow the fastest at 13.8 percent in 2017 followed by software at 13.4 percent. Firms in the banking and securities industry are investing more in enterprise resource planning (ERP)/ supply chain management (SCM)/ customer relationship management (CRM) to upgrade their existing infrastructure.

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Amtek Auto recovers after recent slide
Jun 20,2017

Meanwhile, the S&P BSE Sensex was up 34.99 points, or 0.11% at 31,346.56. The S&P BSE Small-Cap index was up 80.78 points, or 0.52% at 15,734.75.

High volumes were witnessed on the counter. On the BSE, 29.47 lakh shares were traded on the counter so far as against the average daily volumes of 6.39 lakh shares in the past one quarter. The stock had hit a high of Rs 25.30 so far during the day. The stock had hit a low of Rs 21.25 so far during the day, which is also its 52-week low. The stock had hit a 52-week high of Rs 56.20 on 26 July 2016.

The stock had underperformed the market over the past one month till 19 June 2017, declining 35.93% compared with the Sensexs 2.78% rise. The scrip had also underperformed the market over the past one quarter declining 34.31% as against the Sensexs 5.61% rise. The scrip had also underperformed the market over the past one year declining 34.95% as against the Sensexs 17.6% rise.

The small-cap company has equity capital of Rs 49.65 crore. Face value per share is Rs 2.

Shares of Amtek Auto had declined 30.52% in the preceding three trading sessions to settle at Rs 23.45 yesterday, 19 June 2017, from its closing price of Rs 33.75 on 14 June 2017.

Amtek Auto reported net loss of Rs 307.57 crore in the quarter ended March 2017, compared with net loss of Rs 563 crore in the quarter ended March 2016. Net sales fell 31.8% to Rs 442.36 crore in the quarter ended March 2017 over the quarter ended March 2016.

Amtek Auto is one of the leading integrated auto component manufacturers.

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Satin Creditcare gains as RBI hikes foreign investment ceiling
Jun 20,2017

Meanwhile, the S&P BSE Sensex was up 38.06 points or 0.12% at 31,349.63. The S&P BSE Small-Cap index rose 78.75 points or 0.5% at 15,732.72.

On the BSE, 23,000 shares were traded on the counter so far as against the average daily volumes of 28,915 shares in the past one quarter. The stock had hit a high of Rs 294.04 and a low of Rs 284 so far during the day. The stock had hit a record high of Rs 716.70 on 28 July 2016 and a record low of Rs 243.55 on 12 June 2017.

The stock had underperformed the market over the past one month till 19 June 2017, sliding 15.02% compared with the Sensexs 2.78% rise. The stock had also underperformed the market over the past one quarter, declining 27.69% as against the Sensexs 5.61% rise. The scrip had also underperformed the market over the past one year, declining 34.53% as against the Sensexs 17.6% rise.

The small-cap company has equity capital of Rs 39.11 crore. Face value per share is Rs 10.

On consolidated basis, Satin Creditcare Network reported net loss of Rs 43.11 crore in Q4 March 2017, as against net profit of Rs 24.93 crore in Q4 March 2016. Total income declined 78.1% to Rs 175.22 crore in Q4 March 2017 over Q4 March 2016.

Satin Creditcare Network is one of the leading microfinance companies with a strong presence in North India.

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L&T launches Floating Dock for Indian Navy
Jun 20,2017

Larsen & Toubro announced the launch of Floating Dock (FDN-2) designed and built for the Indian Navy at the Companys greenfield shipyard at Kattupali, near Chennai. This marks a significant achievement for L&Ts shipbuilding arm in Design, Construction and Project Management of Defence Vessels.

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Airline stocks fly high after good growth in passenger traffic
Jun 20,2017

The traffic data was announced by the Ministry of Civil Aviation after market hours yesterday, 19 June 2017.

Meanwhile, the S&P BSE Sensex was up 34.38 points, or 0.11%, to 31,346.41.

Jet Airways (up 1.49%) and Interglobe Aviation (up 2.98%) gained.

SpiceJet gained 2.13% after the company and Boeing signed a memorandum of understanding for 40 737 MAX airplanes. The company made the announcement after market hours yesterday, 19 June 2017.

SpiceJet said that the agreement, valued at approximately $4.74 billion at current list prices, is split evenly between 20 new orders for the 737 MAX 10 and conversions of 20 of the low-cost carriers 737 MAX 8 airplanes of its current order to 737 MAX 10s.

The traffic data showed passengers carried by domestic airlines rose 17.63% to 4.65 crore in January-May, 2017 over January-May, 2016.

Meanwhile, oil prices held steady on the heels of seven-month lows, with investors remaining dubious about how effective the production cuts spearheaded by Saudi Arabia and Russia have been and will be. In the global commodities markets, Brent for August 2017 settlement was up 5 cents at $46.96 a barrel. The contract had fallen 46 cents to settle at $46.91 a barrel during the previous trading session.

Jet fuel or aviation turbine fuel (ATF) typically makes up almost half of an airlines operating cost. Prices of jet fuel are directly linked to crude oil prices. State-run oil marketing companies revise jet fuel prices on the last day of every month based on the average international crude price.

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Uflex engineers Easy-Scoop-Lock-Tight Pitcher Bag
Jun 20,2017

Uflex has engineered an Easy-Scoop-Lock-Tight Pitcher Bag that dispenses controlled portion of the product packed inside. The 4 panel bag comes with a reinforced handle on the side gusset for carrying. Additionally, the block bottom allows the bag to stand up without taking any support thereby enhancing the brand visibility. This bag is much in demand for packaging granular products like rice, sugar, pulses and pet foods.

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Axis Bank allots 52,950 equity shares
Jun 20,2017

Axis Bank has allotted 52,950 equity shares of Rs. 2/- each on 19 June 2017 pursuant to exercise of options under its ESOP Scheme.

The paid up share capital of the Bank will accordingly increase from Rs. 479,37,55,028 (239,68,77,514 equity shares of Rs. 2/- each) to Rs. 479,38,60,928 (239,69,30,464 equity shares of Rs. 2/- each).

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Great Eastern Shipping Company intimates of acquisition of jack up rigs
Jun 20,2017

Great Eastern Shipping Company announced that Greatship (India), a wholly owned-subsidiary of the Company, has acquired full ownership of the jack up rigs from Greatship Global Energy Services (GGES), a wholly-owned subsidiary of GIL w.e.f 19 June 2017.

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Tata Motors advances on reports of mulling IPO for JLR
Jun 20,2017

Meanwhile, the S&P BSE Sensex was up 37.04 points or 0.12% at 31,348.61.

On the BSE, 2.09 lakh shares were traded on the counter so far as against the average daily volumes of 5.29 lakh shares in the past one quarter. The stock had hit a high of Rs 464.85 and a low of Rs 455.50 so far during the day. The stock had hit a 52-week high of Rs 598.60 on 7 September 2016 and a 52-week low of Rs 417.10 on 8 May 2017.

The stock had underperformed the market over the past one month till 19 June 2017, advancing 2.11% compared with the Sensexs 2.78% rise. The stock had also underperformed the market over the past one quarter, declining 5.05% as against the Sensexs 5.61% rise. The scrip had also underperformed the market over the past one year, sliding 2.35% as against the Sensexs 17.6% rise.

The large-cap company has equity capital of Rs 577.47 crore. Face value per share is Rs 2.

According to reports, senior executives of Tata Group have held preliminary internal discussions over listing of the British luxury automobile company Jaguar Land Rover (JLR) over an international stock exchange, which may potentially include New York Stock Exchange or London Stock Exchange.

Tata Motors had bought an ailing JLR in a surprise move in 2008 for $2.4 billion from Ford Motor Co.

On a consolidated basis, net profit of Tata Motors declined 16.79% to Rs 4336.43 crore on 2.88% decline in net sales to Rs 77217.19 crore in Q4 March 2017 over Q4 March 2016.

Tata Motors is a market leader in commercial vehicles in India. The companys British luxury unit Jaguar Land Rover (JLR) sells premium luxury cars.

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Good gains for US stocks
Jun 20,2017

U.S. stocks rose on Monday, 19 June 2017 with both the Dow and the S&P 500 ending at new records as technology shares rebounded from a recent bout of sharp weakness to lead the market higher.

The Dow Jones Industrial Average rose 144.71 points, or 0.7%, to 21,528.99, ending at its highs of the day, which represented both an intraday and a closing record. With the days move, the blue-chip average is up 8.9% so far this year. The S&P 500 gained 20.31 points to 2,453.46, a gain of 0.8%. The large-cap index, up 9.6% in the year to date, hit its own intraday record of 2,453.82 on Monday finished near that high. The Nasdaq Composite Index rose 87.25 points to 6,239.01, a gain of 1.4%.

Among the most notable tech gainers on Monday, Apple rose 2.9% in its biggest one-daadvance since February, while Facebook was up 1.5%. Among other major internet names, Amazon.com added 0.8%.

The closely watched dollar index, rose by 0.3% on Monday, providing a headwind for commodities priced in the currency. A stronger dollar tends to make assets pegged to the buck more expensive to buyers using other monetary units.

Economic uncertainty could continue to hold sway over metals and currency trading, although few major economic data releases are due at the weeks start.

Last week, Fed Chairwoman Janet Yellen laid out a plan to shrink the central banks massive $4.5 trillion balance sheet, one of its economy-spurring tools, starting this year, as they also raised interest rates.

Bullion prices finished in negative territory on Monday, 19 June 2017 as the dollar strengthened and as investors favored assets perceived as risky over so-called havens. Gold has been plagued by a downbeat tone in the wake of recent signals from the Federal Reserve for at least one more increase to interest rates this year in what has been interpreted as an upbeat outlook on US economy. That view sent the yellow metal down for a second straight week last week because higher rates make gold and other commodities, which dont bear yields, less appealing.

August gold fell $9.80, or 0.8%, to $1,246.70. The metal suffered a 1.2% weekly decline last week. July silver fell 15.9 cents, or 1%, to $16.502 an ounce, marking its third straight decline.

U.S. crude-oil benchmark gave up a modest gain to settle at a seven-month low on Monday, 19 June 2017 at Nymex as worries about U.S. output growth persisted. On the New York Mercantile Exchange, light, sweet crude for delivery in July fell 54 cents, or 1.2%, to close at $44.20 a barrel, its lowest close since Nov. 14. August Brent crude on Londons ICE Futures exchange, the global benchmark, declined 46 cents, or 1%, to end at $46.91 a barrel.

Overabundance of oil has suppressed prices for nearly three years. Even though major producers in the Organization of the Petroleum Exporting Countries and Russia have sidelined a portion of their output since January, the market remains well-over saturated and oil storage around the world is in surplus.

In the bond market, U.S. Treasuries settled lower across the curve with the benchmark 10-yr yield climbing four basis points to 2.19%.

Investors did not receive any economic data on Monday. The first report of the week--first quarter Current Account Balance (consensus -$123.4 billion) will cross the wires on Tuesday at 8:30 ET.

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V2 Retail launches retail store in Gazipur, U.P.
Jun 20,2017

V2 Retail has launched one operational retail store at Gazipur in Uttar Pradesh. With this, there are 39 retail stores in operation.

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