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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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Cabinet approves International Solar Alliance (ISA): Signing of the Framework Agreement
Dec 28,2016

The Union Cabinet, chaired by the Prime Minister, Shri Narendra Modi has given its ex-post facto approval to the proposal of Ministry of New & Renewable Energy (MNRE) for ratification of ISAs Framework Agreement by India. ISA was launched jointly by the Prime Minister of India and the President of France on 30th November, 2015 at Paris on the side-lines of the 21st CoP meeting of the United Nations Framework Convention on Climate Change.

The ISA will strive to bring together more than 121 solar resource rich nations for coordinated research, low cost financing and rapid deployment. The foundation stone of the ISA Headquarters was laid at Gwal Pahari, Guragaon in Haryana. India has already committed the required support of operationalization of ISA. ISA will put India globally in a leadership role in climate and renewable energy issues. It will also give a platform to showcase its solar programmes.

Background

The Agreement was opened for signature on the sidelines of 22nd CoP meeting at Marrakesh, Morocco. The Agreement invokes the Paris Declaration on ISA and encapsulates the vision of the prospective member nations. UNDP and World Bank have already announced their partnership with the ISA. Till now, 25 nations have signed the Framework Agreement.

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Board of Divya Jyoti Industries to consider change in company secretary
Dec 28,2016

Divya Jyoti Industries announced that a meeting of the Board of Directors of the Company will be held on 02 January 2017, to consider the resignation and appointment of Company Secretary in the Company and to record condolence for the Sad Demise of Chairman cum Director of the Company, Rangnath Ji Nyati.

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Cabinet approves need-based sale of surplus land of four Pharmaceutical PSUs
Dec 28,2016

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the sale of surplus land of Hindustan Antibiotics (HAL), Indian Drugs & Pharmaceuticals (IDPL), Rajasthan Drugs & Pharmaceuticals (RDPL) and Bengal Chemicals & Pharmaceuticals (BCPL), as would be required, to meet their outstanding liabilities. In this way, the national assets would be utilized in the best national interest.

The sale would be through open competitive bidding to government agencies and the outstanding liabilities will be met from the sale proceeds. Voluntary Retirement Scheme (VRS) / Voluntary Separation Scheme (VSS) will also be implemented in these Public Sector Undertakings.

The remaining part of the land will be managed in accordance with the guidelines of the Department of Investment & Public Assets Management (DIPAM) and Department of Public Enterprises (DPE).

After meeting the liabilities, steps will be taken to close IDPL and RDPL. The option of strategic sale will be explored for HAL and BCPL. The Department of Pharmaceuticals, the administrative department for these undertakings, will take time bound follow-up action.

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Intellect Design Arena allots equity shares
Dec 28,2016

Intellect Design Arena announced that the Members of the Stakeholders Relationship Committee of the Company vide its Circular Resolution dated 28 December 2016 has approved the allotment of 4,200 shares to Two (2) associates under ASOP 2003 Scheme, the allotment of 3,800 shares to four (4) associates under ASOP 2011 Scheme and the allotment of 500 shares to one (1) associate under ISOP 2015 scheme.

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K P R Mill fixes record date for buyback of shares
Dec 28,2016

K P R Mill has fixed 31 December 2016 as the Record Date for the purpose of Buyback of Equity Shares of the Company.

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Board of Vitan Agro Industries approves divestment of subsidiary
Dec 28,2016

Vitan Agro Industries announced that a meeting of the Board of Directors of the Company was held on 28 December 2016, considered, approved and took on record :

1. 100% divestment in Amirdam Food, a Wholly Owned Subsidiary of the Company subject to the Shareholders Approval vide postal Ballot.

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Outcome of board meeting of Dee Kartavya Finance
Dec 28,2016

Dee Kartavya Finance announced that the Meeting of Board of Directors of the Company held on 28 December 2016, have considered and approved the following:

1. The appointment of Pinki Bathwal & Mamta Devi as an additional director of the Company with immediate effect.

2. Rectified the Listing agreement dated 18 January 2016 by executing the fresh listing agreement dated 28 December 2016.

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Bharti Infratel gains on reports of brokerage upgrade
Dec 28,2016

Meanwhile, the S&P BSE Sensex was down 6.66 points or 0.03% at 26,206.78.

On the BSE, 71,000 shares were traded on the counter so far as against the average daily volumes of 1.99 lakh shares in the past one quarter. The stock had hit a high of Rs 345 and a low of Rs 333.55 so far during the day.

The stock had hit a 52-week high of Rs 436.40 on 30 December 2015 and a 52-week low of Rs 302.10 on 24 June 2016. It had underperformed the market over the past one month till 27 December 2016, sliding 6.63% compared with the Sensexs 0.39% fall. The scrip had also underperformed the market in the past one quarter, declining 7.48% as against the Sensexs 7.12% fall.

The large-cap firm has equity capital of Rs 1849.61 crore. Face value per share is Rs 10.

The foreign brokerage reportedly said though Bharti Infratel continues to face headwinds in the near term including headwinds from increased competition and consolidation by mobile operators, the risk-reward is more balanced after recent underperformance.

The brokerage noted that accelerated 4G deployment by telecom companies could result in strong growth in tenancy, or rental of mobile towers, over the next few quarters.

Bharti Infratels consolidated net profit rose 30.8% to Rs 773.80 crore on 9% growth in net sales to Rs 1496.30 crore in Q2 September 2016 over Q2 September 2015.

Bharti Infratel is a provider of telecom tower and related infrastructure.

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Shilpa Medicare gains on bargain hunting
Dec 28,2016

Meanwhile, the BSE Sensex was up 1.69 points, or 0.01%, to 26,215.13.

On the BSE, so far 23,000 shares were traded in the counter, compared with average daily volumes of 17,905 shares in the past one quarter. The stock had hit a high of Rs 698.15 and a low of Rs 673 so far during the day.

The stock hit a record high of Rs 786.75 on 21 December 2016. The stock hit a 52-week low of Rs 355 on 20 January 2016. The stock had outperformed the market over the past 30 days till 27 December 2016, rising 0.43% compared with the 0.52% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 20.96% as against Sensexs 7.35% decline.

The mid-cap company has equity capital of Rs 8.01 crore. Face value per share is Re 1.

Shares of Shilpa Medicare fell 10.86% in two trading sessions to settle at Rs 673.10 yesterday, 27 December 2016, from its close of Rs 755.10 on 23 December 2016.

Shilpa Medicare announced after market hours on Monday, 26 December 2016, that its board allotted 30.25 lakh equity share at Rs 570 each to TA FII Investors, Mauritius. The allotment was approved by the shareholders at an EGM held on Monday, 26 December 2016. Shareholders also approved increasing foreign investment in the company to 40% from 30%.

Shares of Shilpa Medicare fell 2.79% to settle at 673.10 yesterday, 27 December 2016.

On a consolidated basis, Shilpa Medicares net profit rose 63.91% to Rs 38.24 crore on 21.12% growth in net sales to Rs 209.67 crore in Q2 September 2016 over Q2 September 2015.

Shilpa Medicare is engaged in the business of bulk drugs manufacturing.

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M&M nudges higher after announcing biz restructuring
Dec 28,2016

The announcement was made during trading session today, 28 December 2016.

Meanwhile, the S&P BSE Sensex was up 44.81 points or 0.17% at 26,258.25.

On the BSE, 22,000 shares were traded on the counter so far as against the average daily volumes of 81,382 shares in the past one quarter. The stock had hit a high of Rs 1,184.40 and a low of Rs 1,170 so far during the day.

The stock had hit a record high of Rs 1,508.80 on 9 August 2016 and a 52-week low of Rs 1,092 on 12 February 2016. It had underperformed the market over the past one month till 27 December 2016, sliding 0.72% compared with the Sensexs 0.39% fall. The scrip had also underperformed the market in the past one quarter, declining 14.91% as against the Sensexs 7.12% fall.

The large-cap company has equity capital of Rs 310.55 crore. Face value per share is Rs 5.

Mahindra & Mahindra (M&M) formed a new sector, the Agriculture Sector. This is in addition to its two existing sectors, namely- Automotive and Farm Equipment Sectors.

The company has also announced the appointment of Rajan Wadhera as the incoming President of the Automotive Sector. Wadhera will take over from Pravin Shah, the current President & Chief Executive (Automotive) M&M, as he retires on 31 March 2017.

Subsequent to the restructuring announcement, the respective business heads have also been re- designated. Accordingly, Rajesh Jejurikar will now be the President of the Farm Equipment Sector and Ashok Sharma, the President, of the Agriculture Sector. All three sector Presidents in their respective capacities will report to Pawan Goenka. All changes will be effective 1 April 2017.

Mahindra Trucks and Buses and the construction equipment businesses will now be an integral part of the Automotive sector and will report to Rajan Wadhera.

M&Ms net profit rose 27.1% to Rs 1163.27 crore on 13.8% growth in net sales to Rs 10411.67 crore in Q2 September 2016 over Q2 September 2015.

M&M enjoys a leadership position in tractors and utility vehicles in India.

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Sterling Tools fixes record date for sub-division of shares
Dec 28,2016

Sterling Tools has fixed 10 January 2017 as the Record Date for the purpose of Sub-division of 1 (One) Equity Share of face value of Rs. 10/- each into 5 (Five) Equity Shares of Rs. 2/- each duly approved by the Shareholders thru Postal Ballot on 20 December 2016.

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Board of RSD Finance appoints director
Dec 28,2016

RSD Finance announced that the Board of Directors of the Company at its meeting held on 28 December 2016 has appointed Upneet Dugal as an Additional Director on the Board of the Company with immediate effect.

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Akzo Nobel India gains after opening specialty coatings facility in Noida
Dec 28,2016

The announcement was made after market hours yesterday, 27 December 2016.

Meanwhile, the BSE Sensex was up 157.94 points, or 0.60%, to 26,371.38.

On the BSE, so far 806 shares were traded in the counter, compared with average daily volumes of 1,239 shares in the past one quarter. The stock had hit a high of Rs 1,399 and a low of Rs 1,367.50 so far during the day.

The stock hit a record high of Rs 1,740 on 31 August 2016. The stock hit a 52-week low of Rs 1,204 on 12 February 2016. The stock had underperformed the market over the past 30 days till 27 December 2016, falling 3.52% compared with the 0.52% fall in the Sensex. The scrip had also underperformed the market in past one quarter, falling 18.53% as against Sensexs 7.35% decline.

The mid-cap company has equity capital of Rs 46.66 crore. Face value per share is Rs 10.

Akzo Nobel India announced that it has inaugurated a first-of-its-kind specialty coatings production facility and colour laboratory in Noida, Uttar Pradesh, to service its customers in the consumer electronics, automobile and cosmetics industry.

With an investment of Euro 0.4 million or Rs 3 crore, the new site will manufacture 600 kilolitre of coatings annually, thus catering to the localisation drive undertake by many large companies. Already commissioned, the facility is in its first phase, the second phase is likely to be completed by the end of 2016, with scope for further expansion.

Net profit of Akzo Nobel India rose 18.5% to Rs 41.59 crore on 7.5% rise in net sales to Rs 670.69 crore in Q2 September 2016 over Q2 September 2015.

AkzoNobel is a leading global paints and coatings company and a major producer of specially chemicals.

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Ramchandra Leasing and Finance announces resignation of company secretary
Dec 28,2016

Ramchandra Leasing and Finance announced that Asmita Sanjaykumar Purohithas resigned as Company Secretary & Compliance Officer of the Company with effect from 02 January 2017 (after closure of the office hours).

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RPP Infra Projects surges after winning orders
Dec 28,2016

The announcement was made during trading hours today, 28 December 2016.

Meanwhile, the BSE Sensex was up 195.89 points, or 0.75%, to 26,409.33.

On the BSE, so far 6.20 lakh shares were traded in the counter, compared with average daily volumes of 46,048 shares in the past one quarter. The stock had hit a high of Rs 236 and a low of Rs 203 so far during the day.

The stock hit a record high of Rs 236 on 28 December 2016. The stock hit a 52-week low of Rs 102.10 on 20 January 2016. The stock had outperformed the market over the past 30 days till 27 December 2016, rising 7.08% compared with the 0.52% fall in the Sensex. The scrip had also outperformed the market in past one quarter, falling 4.24% as against Sensexs 7.35% decline.

The small-cap company has equity capital of Rs 22.60 crore. Face value per share is Rs 10.

RPP Infra Projects has received an order worth Rs 24.20 crore from Kamarajar Port for construction of container pre-stacking yard and other ancillary facilities. Further, the company received an order worth Rs 30 crore from Annai Infra Developers, Erode for Chennai Corporation to construct the integrated storm water drains in Virugambakkam and Arumbakkam water shed of Cooum Basin in expanded area of Chennai Corporation.

On a consolidated basis, net profit of RPP Infra Projects rose 5.74% to Rs 6.45 crore on 6.72% decline in net sales to Rs 85.74 crore in Q2 September 2016 over Q2 September 2015.

RPP Infra Projects is engaged in the business of infrastructure development such as highways, roads, bridges, civil construction works, irrigation and water supply projects and power plant.

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