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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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Board of Lloyd Electric & Engineering approves sale of consumer durables business & brand Lloyd
Feb 20,2017

Lloyd Electric & Engineering announced that the Board of Directors of the Company at its meeting held on 18 February 2017 have approved the following -

Sale and exit of the Consumer Durables Business and brand, logo, trademark Lloyd to Havells India on a going concern basis.

Change the name of the Company to remove the word Lloyd on or before the completion of the proposed transaction.

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United Bank of India announces appointment of Executive Director
Feb 20,2017

United Bank of India announced that the Ministry of Finance vide Notification dated 16 February 2017 has appointed Ashok Kumar Pradhan as Executive Director of the Bank under Section 9(3)(a) of The Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970/80 read with clauses 3(1) and 8(1) of The Nationalised Banks (Management and Miscellaneous Provisions) Scheme, 1970/80 w.e.f. the date of his taking over of charge of the post i.e. 18 February 2017 for a period of 3 years or until further orders, whichever is earlier.

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Allahabad Bank announces appointment of Executive Director
Feb 20,2017

Allahabad Bank announced that in exercise of the powers conferred by sub-section 3(a) of Section 9 of the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970/1980, read with Sub clause (1) of Clause 3 and sub clause (1) of Clause 8 of the Nationalized Banks (Management & Miscellaneous Provisions) Scheme, 1970/1980, the Govt, of India, Ministry of Finance, Department of Financial Services vide their Notification dated 16 February 2017, have appointed S. Harisankar, CGM, State Bank of Travancore, as Executive Director of the Bank for a period of three years with effect from the date of his taking over charge of the post or until further orders, whichever is earlier.

Accordingly, S. Harisankar has taken over the charge of Executive Director of the Bank on date i.e. 18 February 2017.

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State Bank of India intimates of proposed bank strike
Feb 20,2017

State Bank of India announced that the Bank have been advised by the Indian Banks Association (IBA) that members of United Forum of Bank Unions (AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF, NOBW, INBOC & NOBO) have served notices of strike on Indian Banks Association, informing their decision to go on strike on 28 February 2017 in all the banks on certain issues.

All India State Bank Officers Federation and All India State Bank of India Staff Federation, being part of UFBU will also participate in the said .

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Board of Havells India approves purchase of Lloyd Electrics Consumer Durables Business
Feb 20,2017

Havells India announced that the Company in its Board Meeting held on 18 February 2017, has approved the purchase of Consumer Durables Business of Lloyd Electric and Engineering on a going concern basis, subject to due diligence and other regulatory approvals.

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Jaiprakash Power Ventures allots 305.80 crore equity shares
Feb 20,2017

Jaiprakash Associates announced that the Stakeholders Relationship Committee of Jaiprakash Power Ventures (JPVL), a subsidiary of the Company, in its meeting held 18 February 2017, has allotted 305,80,00,000 Equity Shares of Rs. 10/- each at a price of Rs. 10/- per share to its various lenders, upon approval of allocation of conversion of part of their outstanding debt amount into Equity Shares, pursuant to implementation of SDR.

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Havells Indian++in focus on plan to buy Lloyd Consumer for Rs 1600 crore
Feb 20,2017

Havells India announced that its board has approved the acquisition of Lloyd Consumer Durable Business Division (Lloyd Consumer). This acquisition, when completed, will mark Havells foray into consumer durables industry. The acquisition is proposed to be executed at an enterprise value of Rs 1600 crore on a debt free, cash free basis subject to closing adjustments. The announcement was made on Sunday, 19 February 2017.

Jaiprakash Associates said that the stakeholders relationship committee of Jaiprakash Power Ventures (JPVL), a subsidiary of the company, in its meeting held 18 February 2017, has allotted 305.80 crore equity shares at Rs 10 per share to its various lenders, upon approval of allocation of conversion of part of their outstanding debt amount into equity shares, pursuant to implementation of SDR. Lenders now hold 51% of the JPVLs capital, while holding of Jaiprakash Associates post issue fell to 29.74% from the earlier 60.69%. The announcement was made on Saturday, 18 February 2017.

Kotak Mahindra Bank (KMBL) in its clarification issued to the stock exchanges with respect to recent news article in media titled Kotak Mahindra, Axis Bank shares up on merger buzz said that it does not comment on speculation. The bank undertakes to comply with all its disclosure obligations, KMBL said. The announcement was made after market hours on Friday, 17 February 2017.

Shares of Ambuja Cements will be in spotlight as the company is scheduled to announce Q4 December 2016 results today, 20 February 2017.

Great Eastern Shipping Company (GE Shipping) said that its wholly owned subsidiary Greatship (India) (GIL) has sold and delivered its 1999 built platform supply vessel (PSV) Greatship Disha to the buyers. The announcement was made after market hours on Friday, 17 February 2017.

Religare Enterprises said that its indirect subsidiary Religare Wealth Management has entered into a definitive agreement with the Anand Rathi Group to sell its interests in its wealth management business. This transaction is subject to necessary approvals, Religare Enterprises (REL) said in a stock exchange notice. REL said the consideration is not being disclosed due to confidentiality obligations of Religare under the definitive agreements executed with the buyer. The expected date of completion of sale/disposal is 31 March 2017. Religare Wealth Management reported a revenue of Rs 24.84 crore in the financial year ended 2016. The announcement was made after market hours on Friday, 17 February 2017.

Bharat Petroleum Corporation (BPCL) said that its shareholders approved private placement of non-convertible bonds/debentures and/or other debt securities. In exercise of the said delegated authority, BPCL is planning to raise up to Rs 2,000 crore during the current financial year through private placement of secured non-convertible debentures subject to market conditions. The debentures are proposed to be listed on debt market segment of the BSE and NSE. The details of the issue viz., class of investors, issue price, tenor, interest rate etc. will depend on the market conditions which will be intimated on crystallization of the issue. The announcement was made after market hours on Friday, 17 February 2017.

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Prima Plastics commences commercial production at newly set up manufacturing plant
Feb 18,2017

Prima Plastics announced that the new plant for manufacturing of plastic moulded articles at Ongole with an installed capacity of 1500 tons per annum approximately has been completed and the commercial production and operations at Ongole have commenced with effect from 17 February 2017.

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Board of State Bank of Travancore approves raising upto Rs 600 crore
Feb 18,2017

State Bank of Travancore announced that the Executive Committee of the Board of Directors of the Bank in its meeting held on 18 February 2017 has approved the raising of up to Rs. 600 crore by way of issue of Basel III compliant Additional Tier I Bonds by private placement.

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Shivam Autotech gets revision in credit ratings
Feb 18,2017

Shivam Autotech has received revision in credit ratings from Credit Analysis & Research as under -

Long term bank facilities - CARE BBB+ (Revised from CARE A-)
Short term bank facilities - CARE A2+ (Revised from CARE A1)

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Board of Chartered Logistics accepts resignation of director
Feb 18,2017

Chartered Logistics announced that the Board of Directors at their Meeting held on 18 February 2017, considered and approved the following matters:

- Resignation of Nirzari Shah as an Independent Director of the Company w.e.f 18 February 2017.

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Williamson Financial Services to invest in preference shares of McNally Bharat Engineering Company
Feb 18,2017

Williamson Financial Services announced that the Company has decided to subscribe for not exceeding 15,151,515 Compulsorily Convertible Preference Shares of Rs. 10/- each at a price of Rs. 66/- per Share in the Private Placement Offer to be made by McNally Bharat Engineering Company .

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Himatsingka Seide incorporates subsidiary in England
Feb 18,2017

Himatsingka Seide has incorporated a wholly owned subsidiary in Europe namely n++Himatsingka Europen++, which is registered with the Registrar of Companies for England and Wales on 17 February 2017. This will help to strengthen the distribution network in Europe.

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Board of CIAN Agro Industries & Infrastructure approves acquisition of Jairam Infraventures
Feb 18,2017

CIAN Agro Industries & Infrastructure announced that the Board of Directors of the Company at its meeting held on 18 February 2017 approved to acquire entire 100% paid up equity share capital of Jairam Infraventure, comprising of 10000 equity shares of Rs 10 each at par to make it a wholly owned subsidiary of the Company.

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Williamson Magor & Company to invest in preference shares of McNally Bharat Engineering Company
Feb 18,2017

Williamson Magor & Company Ltd has informed BSE that the Company has decided to subscribe for not exceeding 15,151,515 Compulsorily Convertible Preference Shares of Rs. 10/- each at a price of Rs. 66/- per Share in the Private Placement Offer to be made by McNally Bharat Engineering Company.

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