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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 Upsurge Investment & Finance appoints company secretary
Feb 20,2017

Upsurge Investment & Finance announced that the Board of Directors of the Company at its meeting held on 20 February 2017 has appointed Nikita Trivedi as Company Secretary and Compliance Officer with effect from 20 February 2017.

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Asia Pacific Market: Stocks trade higher
Feb 20,2017

Asia Pacific share market closed modest higher in thin trade on Monday, 20 February 2017, with investors cautious in the absence of firm triggers ahead of a busy week for US Federal Reserve events and further details from President Donald Trump on his economic policies, including tax reforms. MSCIs broadest index of Asia-Pacific shares outside Japan was up 0.2% as of 10.31 GMT.

Wall Streets strong performance last week continued to reverberate after US stocks hit new highs Friday for the sixth time in seven sessions. With US markets closed Monday for the Presidents Day holiday, investors were turning to corporate and political developments elsewhere.

Europe was back in focus after a poll showed German Chancellor Angela Merkels ruling party lagging the Social Democrats for the first time under her leadership ahead of looming elections. Uncertainty in France was also on traders minds.

In the US, no less than five heads of regional Federal Reserve banks are due to speak this week on the interest rates front while Fed Board Governor Jerome Powell appears on Wednesday, when minutes of the last policy meeting are also due. Separately, in a speech in Singapore on Monday, Cleveland Federal Reserve President Loretta Mester said she would be comfortable raising interest rates at this point if the economy maintained its current pace of performance.

Among Asian bourses

Australia Market fall 0.2%

Australian equity market ended down, weighed down by selloff in energy and materials stocks. Meanwhile weak earnings from logistics company Brambles and engineering and services contractor WorleyParsons also sparked heavy selling. At the close, the benchmark S&P/ASX 200 index dropped 10.70 points, or 0.18%, of 5,795.10, while the broader All Ordinaries index declined 10.50 points, or 0.18%, to 5,840.50.

The major banks added to recent gains in the wake of well-received earnings reports from Commonwealth Bank of Australia and Australia & New Zealand Banking, but that was more than offset by weakness in energy, materials and industrial stocks.

Energy and materials stocks lose ground as oil prices weakened. After falling on Friday, crude futures remained under pressure in Asian trading on signs that U.S. production is steadily rising, threatening to undermine efforts to reduce output by OPEC. Among energy stocks, Woodside Petroleum fell 1%, Oil Search dropped 1.7% and Santos lost 1.5%. Diversified miners BHP Billiton and Rio Tinto were down 0.6% and 0.2% respectively, although iron-ore producer Fortescue Metals Group gained 1.5% as Chinese iron-ore futures extended a rally that paused last week.

Consumer cyclicals also took a hit after supermarket operator Wesfarmers, which went ex-dividend, fell 2.20%.

Financial stocks ended firmly higher in the wake of well-received earnings reports from Commonwealth Bank of Australia and Australia & New Zealand Banking. National Australia Bank was little changed, while Commonwealth Bank, Westpac and ANZ each made gains.

Australian pallets and container group Brambles sank 9.9% after it reduced its full-year earnings guidance following a drop in first-half profit on slowing North American pallet sales and a large impairment of its oil-and-gas assets.

WorleyParsons tumbled 13% after reporting a first-half loss following further restructuring costs and with continued weak demand from resources producers.

Nikkei settles 0.1% up

The Japan share market settled above the boundary level after recouping initial losses, as the yen lost some of its early strength and gains in select blue chip stocks including Bridgestone and SoftBank Group. The 225-issue Nikkei average gained 16.46 points, or 0.09%, to close at 19,251.08. The Topix index of all first-section issues finished up 2.47 points, or 0.16%, at 1,547.01.

Tokyo market opened on a weak note reflecting the dollars fall below 113 yen level. The Japanese currency attracted safe-haven purchases, on the back of growing concerns over the upcoming French presidential election and because the administration of U.S. President Donald Trump faces difficulties appointing key officials. Local market gradually trimmed its loss toward the end of the morning session. But the key market gauge started the afternoon session with a modest gain and moved in positive territory for most of the rest of the day, with investors heartened to see the greenback rise back above the 113 yen line.

Shares of Japanese insurer and exporter stocks underperformed. Dai-ichi Life Holdings lost 0.7% to Y2,206.5 ($19.50). Chip maker Renesas Electronics fell 1.5% to Y1,019. However, selling didnt accelerate as Japanese government bond yields rose modestly and the yen reversed its course to weaken slightly.

Tire maker Bridgestone rose 5.4% to a 15-month high of Y4,549 after the company late Friday announced a share-buyback program, despite lackluster results for 2016. Starting Monday, Bridgestone is buying up to 6.4% of its existing shares, possibly spending as much as Y150 billion ($1.33 billion). The company reported a 6.6% decline in net profit for 2016 because of a higher yen and lower truck and bus tire sales in North America.

SoftBank rose 3.2% to Y8,789 on continuing hopes that the Japanese company is transforming its business model after its agreement last week to buy Fortress Investment Group.

China Stocks gains on pension fund reports

Mainland China stock market settled higher, with gains led by wine makers and banks, after media reports said pension funds may begin flowing into the countrys stock markets as early as this week. Investor sentiment was also supported by new rules unveiled by regulators late on Friday to restrict excessive and frequent fundraising by some listed companies. At the close, the blue-chip CSI300 index, which tracks large companies in Shanghai or Shenzhen, advanced 1.46% to close at 3,471.39. The Shanghai Composite Index added 1.18% to close at 3,239.96. The Shenzhen Composite Index, which tracks stocks on Chinas second exchange, increased 0.9% to 1962.53. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, rose 0.64% to 1,894.96 points.

State media reported on Friday that China had started investing an initial 360 billion yuan ($52.42 billion) in pension insurance funds from seven provinces and cities in financial markets. The first tranche of that investment was expected to flow into the stock market as early as this week. Non-cyclical stocks such as pharmaceuticals and wine makers would benefit most from the pension fund investment, as insurance firms prefer stocks with stable returns.

Also on Friday, China unveiled rules to check excessive additional fundraising by companies, requiring a listed companys private share placement plan must not exceed 20% of its share base.

Wine makers were popular bets, with an index tracking the liquor sector rallied 4%, as the industry has been gradually recovering from President Xi Jinpings graft clampdown and the plasticizer scandal since 2012.

Retail conglomerate Shanghai Bailian Group surged by its 10% daily limit to 17.82 yuan on Monday after the announcement of a tie-up with e-commerce giant Alibaba.

Heavyweight banking shares were among the gainers in Shanghai. Bank of China added 1.65% to 3.69 yuan, while China CITIC Bank Corp climbed 2.17% to 7.05 yuan.

Hong Kong Stocks hit 18-month high

The Hong Kong stock market advanced modestly, sending the benchmark indices to their highest level since August 215, as new rules giving Chinese insurers greater access to Hong Kong stocks and a crackdown on risky products at home pushing mainland funds into the former British colony. The benchmark Hang Seng Index climbed 0.47% or 112.34 points higher to 24,146.08, the highest since August 2015 and the third straight close above 24,000. The Hang Seng China Enterprises Index, or the H-share index, was up 0.82% or 85.35 points to 10,445.48. Turnover decreased to HK$78.1 billion from HK$86.3 billion on Friday.

Long-term capital from mutual funds is seeping into Hong Kong equities, considered more attractively priced than those in China and some Asian markets on some valuation metrics. Chinese investors including mutual funds and major insurers have been steadily increasing their allocation to Hong Kong stocks

Brokerage house expects Chinese insurers to earmark 250 billion yuan ($36.5 billion) in fresh capital this year - about 3% of their total assets - while onshore mutual funds are set to pump in 50 billion yuan via the connect schemes.

Southbound flows via the Shanghai-Hong Kong stock connect recorded a ninth week of net purchases while utilisation rates have climbed to more than 20% of the daily quota compared with an average of less than 11% in January.

HSBC (00005) gained 1% to HK$69. Hang Seng Bank (00011) edged down 0.2% to HK$163.1. Both banks are scheduled to report their earnings results on Tuesday.

AIA (01299) also reports its earnings on Friday (24 February). It inched up 0.2% to HK$49.1.

HSBC Research upgraded its rating for Mengniu Dairy (02319) to buy from reduce with a higher target price of HK$19.2 (was HK$11.8). Mengniu Dairy shot up 3% to HK$15.54. It was the top blue-chip gainer today.

YST Dairy (01431) also surged 16% to HK$0.65 with transacted shares soaring 35 times against the daily average.

HKTV (01137) jumped 5.7% to HK$1.49 after the company said its e-Commerce Fulfilment Centre has obtained an approval.

Indian Market gains for third straight day

Indian benchmark indices logged decent gains on first trading day of the week as upbeat global stocks buoyed sentiment. The barometer index, the S&P BSE Sensex, gained 192.83 points or 0.68% to settle at 28,661.58. The Nifty 50 index rose 57.50 points or 0.65% to settle at 8,879.20. Key indices gained for the third straight day today. The Sensex hit almost five-month closing high. Nifty hit more than five-month closing high. Metal and mining stocks were in demand as copper prices rose in global commodity markets. IT and PSU bank stocks also rose.

IT stocks rose. Infosys (up 1.2%), Wipro (up 0.47%), Oracle Financial Services Software (up 2.39%) and HCL Technologies (up 0.47%) gained. Tech Mahindra (down 0.64%) and MphasiS (down 0.67%) declined.

TCS jumped 4.08% to Rs 2,506.50. TCS announced at the fag end of the session today, 20 February 2017, that the board of directors of the company at a meeting held today, 20 February 2017, approved a proposal to buyback up to 5.61 crore shares of the company for an aggregate amount not exceeding Rs 16000 crore, being 2.85% of the total paid up equity share capital, at Rs 2,850 per share. He buyback price was at a premium of 13.7% over todays closing price.

The buyback is proposed to be made from the shareholders of the company on a proportionate basis under the tender offer route using the stock exchange mechanism.

Shares of public sector banks rose. UCO Bank (up 2.66%), Syndicate Bank (up 1.39%), Punjab National Bank (up 1.82%), Corporation Bank (up 1.08%), Allahabad Bank (up 0.92%), Bank of Baroda (up 1.66%), State Bank of India (SBI) (up 0.17%), Union Bank of India (up 0.61%), and Bank of India (up 1.33%) edged higher. Canara Bank (down 0.48%) and United Bank of India (down 0.04%) declined.

Metal and mining stocks were in demand as copper prices rose in global commodity markets. Vedanta (up 2.64%), JSW Steel (up 1.73%), Tata Steel (up 4.01%), Steel Authority of India (Sail) (up 3.01%), National Aluminium Company (up 0.93%), Hindustan Zinc (up 0.97%), NMDC (up 2.53%) and Hindustan Copper (up 1.4%) edged higher. Hindalco Industries (down 0.3%) fell.

Jindal Steel and Power surged 7.8% to Rs 100.20 on reports a domestic brokerage has upgraded its rating on the stock to buy from sell and also revised target price upward to Rs 125 from Rs 60 earlier.

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Hong Kong Stocks hit 18-month high
Feb 20,2017

The Hong Kong stock market advanced modestly on Monday, 20 February 2017, sending the benchmark indices to their highest level since August 215, as new rules giving Chinese insurers greater access to Hong Kong stocks and a crackdown on risky products at home pushing mainland funds into the former British colony. The benchmark Hang Seng Index climbed 0.47% or 112.34 points higher to 24,146.08, the highest since August 2015 and the third straight close above 24,000. The Hang Seng China Enterprises Index, or the H-share index, was up 0.82% or 85.35 points to 10,445.48. Turnover decreased to HK$78.1 billion from HK$86.3 billion on Friday.

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China Stocks gains on pension fund reports
Feb 20,2017

Mainland China stock market settled higher on Monday, 20 February 2017, with gains led by wine makers and banks, after media reports said pension funds may begin flowing into the countrys stock markets as early as this week. Investor sentiment was also supported by new rules unveiled by regulators late on Friday to restrict excessive and frequent fundraising by some listed companies. At the close, the blue-chip CSI300 index, which tracks large companies in Shanghai or Shenzhen, advanced 1.46% to close at 3,471.39. The Shanghai Composite Index added 1.18% to close at 3,239.96. The Shenzhen Composite Index, which tracks stocks on Chinas second exchange, increased 0.9% to 1962.53. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, rose 0.64% to 1,894.96 points.

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Nikkei settles 0.1% up
Feb 20,2017

The Japan share market settled above the boundary level after recouping initial losses on Monday, 20 February 2017, as the yen lost some of its early strength and gains in select blue chip stocks including Bridgestone and SoftBank Group. The 225-issue Nikkei average gained 16.46 points, or 0.09%, to close at 19,251.08. The Topix index of all first-section issues finished up 2.47 points, or 0.16%, at 1,547.01.

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Australia Market fall 0.2%
Feb 20,2017

Australian equity market ended down on Monday, 20 February 2017, weighed down by selloff in energy and materials stocks. Meanwhile weak earnings from logistics company Brambles and engineering and services contractor WorleyParsons also sparked heavy selling. At the close, the benchmark S&P/ASX 200 index dropped 10.70 points, or 0.18%, of 5,795.10, while the broader All Ordinaries index declined 10.50 points, or 0.18%, to 5,840.50.

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TVS Motor Company introduces 2 new, exciting colours for TVS WEGO
Feb 20,2017

TVS Motor Company has launched two new colours (Metallic Orange and T-Grey) for its popular scooter, TVS WEGO. The refreshed WEGO models now get a BSIV compliant 110 cc CVTI engine and additional features like a dual tone seat cover, silver oak panels and a USB charging port. The 2 new colours will be offered across the entire TVS WEGO product range.

Priced at Rs. 50,434 (Ex-Showroom Delhi), the refreshed range of TVS WEGO will be available at select TVS Motor Company showrooms across the country.

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MoU signed between NSFDC, M/O SJ&E & Development Commissioner (Handicrafts), M/O of Textiles
Feb 20,2017

A Memorandum of Understanding (MoU) was signed between the National Scheduled Castes Finance and Development Corporation NSFDC, Ministry of Social Justice and Empowerment and Development Commissioner (Handicrafts), Ministry of Textiles.

The basic objective of the MoU is to help Scheduled Caste artisans and their families by promoting production and marketing of high value quality Handicrafts products at cluster level in the field of Handicrafts, Cane & Bamboo, Artificial jewellery, Textiles (Hand printed, Hand Embroidery), Dolls & Toys, Stone Carving, Footwear, etc.

Handicrafts Sector is the second largest economic activity after agriculture. There are around 12 lakh scheduled castes artisans in the country. Most of the Scheduled Caste Artisans are pursuing various Handicrafts such as Cane & Bamboo in Assam, Textiles (Hand printed) in Gujarat & Punjab, Metal wares in Uttar Pradesh, Dolls & Toys in Karnataka, Theatre Costumes & Puppets in Andhra Pradesh etc.

In this endeavor, both the MoU signing parties shall popularize the schemes of DC (Handicrafts) amongst the SC artisans through Awareness Programmes and advertisements in electronic/print media in artisan concentrated areas and collaborate for capacity building including skill upgradation and economic development of SC artisans and their families for achieving the desired outcome.

Exhibitions/Fairs shall be organized by both the parties for providing marketing assistance to SC artisans for enhancing their earnings. Both the parties shall also organize relevant skill development programmes for upgradation of skills of the Scheduled Caste Artisans in clusters and also for sharing knowledge and experience. These efforts will provide marketing linkage to SC artisans/entrepreneurs in the country.

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Siemens wins order worth Rs 287 crore
Feb 20,2017

Siemens and Siemens Rail Automation S.A.U Spain have jointly won an order worth Rs. 287 crore, out of which Siemenss share is Rs. 146 crore (all inclusive). Siemens is to supply state-of-the-art signaling technology for the first two metro lines of the Nagpur Metro i.e. the North-South and the East-West Corridors. The project comprises the deployment and installation of the Siemens communications-based traincontrol (CBTC) solution Trainguard MT for 38.2 kilometers of double track with 36 stations and two depots, as well as onboard equipment for 23 three-cars trains.

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Dynamic Industries standalone net profit rises 169.23% in the December 2016 quarter
Feb 20,2017

Net profit of Dynamic Industries rose 169.23% to Rs 0.35 crore in the quarter ended December 2016 as against Rs 0.13 crore during the previous quarter ended December 2015. Sales rose 33.69% to Rs 10.08 crore in the quarter ended December 2016 as against Rs 7.54 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales10.087.54 34 OPM %7.647.16 - PBDT0.741.05 -30 PBT0.520.83 -37 NP0.350.13 169

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Polygenta Technologies reports standalone net loss of Rs 10.82 crore in the December 2016 quarter
Feb 20,2017

Net Loss of Polygenta Technologies reported to Rs 10.82 crore in the quarter ended December 2016 as against net loss of Rs 15.59 crore during the previous quarter ended December 2015. Sales declined 0.28% to Rs 14.22 crore in the quarter ended December 2016 as against Rs 14.26 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales14.2214.26 0 OPM %-58.86-60.73 - PBDT-7.12-11.85 40 PBT-10.82-15.59 31 NP-10.82-15.59 31

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Mudunuru standalone net profit rises 57.14% in the December 2016 quarter
Feb 20,2017

Net profit of Mudunuru rose 57.14% to Rs 0.22 crore in the quarter ended December 2016 as against Rs 0.14 crore during the previous quarter ended December 2015. Sales rose 233.07% to Rs 4.23 crore in the quarter ended December 2016 as against Rs 1.27 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales4.231.27 233 OPM %9.4640.16 - PBDT0.380.51 -25 PBT0.180.28 -36 NP0.220.14 57

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REI Agro reports standalone net loss of Rs 111.73 crore in the December 2016 quarter
Feb 20,2017

Net Loss of REI Agro reported to Rs 111.73 crore in the quarter ended December 2016 as against net loss of Rs 135.59 crore during the previous quarter ended December 2015. Sales declined 91.48% to Rs 9.49 crore in the quarter ended December 2016 as against Rs 111.40 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales9.49111.40 -91 OPM %-160.91-59.42 - PBDT-70.24-109.57 36 PBT-96.39-135.93 29 NP-111.73-135.59 18

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Hira Automobile standalone net profit rises 18.18% in the December 2016 quarter
Feb 20,2017

Net profit of Hira Automobile rose 18.18% to Rs 0.26 crore in the quarter ended December 2016 as against Rs 0.22 crore during the previous quarter ended December 2015. Sales rose 22.88% to Rs 93.34 crore in the quarter ended December 2016 as against Rs 75.96 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales93.3475.96 23 OPM %3.102.59 - PBDT0.770.60 28 PBT0.420.25 68 NP0.260.22 18

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Avon Lifesciences reports standalone net loss of Rs 6.26 crore in the December 2016 quarter
Feb 20,2017

Net Loss of Avon Lifesciences reported to Rs 6.26 crore in the quarter ended December 2016 as against net loss of Rs 7.43 crore during the previous quarter ended December 2015. There were no Sales reported in the quarter ended December 2016 as against Rs 5.56 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales05.56 -100 OPM %0-38.31 - PBDT-4.81-6.38 25 PBT-6.26-7.43 16 NP-6.26-7.43 16

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