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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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Great Eastern Shipping Company contracts to buy a Suezmax Crude Carrier
Dec 27,2016

Great Eastern Shipping Company has signed a contract to buy a Suezmax Crude Carrier of about 150000 dwt. The 2000 built vessel is expected to join the Companys fleet in Q4 FY 2017.

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Great Eastern Shipping Company contracts to buy a Suezmax Crude Carrier
Dec 27,2016

Great Eastern Shipping Company has signed a contract to buy a Suezmax Crude Carrier of about 150000 dwt. The 2000 built vessel is expected to join the Companys fleet in Q4 FY 2017.

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Board of Ahluwalia Contracts (India) to consider preferential issue of shares
Dec 27,2016

Ahluwalia Contracts (India) announced that a meeting of the Board of Directors of the Company will be held on 09 January 2017, to consider the proposal for issue of further shares to one of the Promoters on preferential allotment basis.

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Board of Ahluwalia Contracts (India) to consider preferential issue of shares
Dec 27,2016

Ahluwalia Contracts (India) announced that a meeting of the Board of Directors of the Company will be held on 09 January 2017, to consider the proposal for issue of further shares to one of the Promoters on preferential allotment basis.

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Divis Lab gains on bargain hunting
Dec 27,2016

Meanwhile, the BSE Sensex was up 109.81 points, or 0.43%, to 25,916.91.

On the BSE, so far 2.97 lakh shares were traded in the counter, compared with average daily volumes of 90,758 shares in the past one quarter. The stock had hit a high of Rs 786.50 and a low of Rs 761 so far during the day.

The stock hit a record high of Rs 1,380 on 16 September 2016. The stock hit a 52-week low of Rs 745 on 26 December 2016. The stock had underperformed the market over the past 30 days till 26 December 2016, falling 33.86% compared with the 1.94% fall in the Sensex. The scrip had also underperformed the market in past one quarter, falling 42.20% as against Sensexs 8.56% decline.

The large-cap company has equity capital of Rs 53.09 crore. Face value per share is Rs 2.

Shares of Divis Laboratories fell 33.28% in three trading sessions to settle at Rs 765.30 yesterday, 26 December 2016, from its close of Rs 1,147.10 on 21 December 2016.

The recent slump was triggered by media reports of adverse observations from the US drug regulator made on its Vizag facility in Andhra Pradesh.

Shares of Divis Laboratories slumped 21.87% to Rs 866.10 on Friday, 23 December 2016, following media reports of adverse observations from the US Food and Drug Administration (USFDA) made on its Vizag facility in Andhra Pradesh. Divis Laboratories is in the process of replying to the observations raised by USFDA. Due process of reply to these observations requires Divis Laboratories to respond in detail and this is being done in time, the company said in a response to the clarification sought by the stock exchanges on the steep fall. These observations have not impacted the companys operations, the company added. USFDA inspected the Unit-2 plant from 29 November 2016 to 6 December 2016 and issued a Form 483 with five observations pertaining to breaches in data integrity, improper controls and violations of current good manufacturing practices (cGMP). The company issued the clarification after market hours on Friday, 23 December 2016.

The stock fell 30.97% in two trading sessions to settle at Rs 765.30 yesterday, 26 December 2016, from its close of Rs 1,108.60 on Thursday, 22 December 2016.

Divis Laboratories net profit fell 24.6% to Rs 223.85 crore on 3.11% growth in net sales to Rs 991.82 crore in Q2 September 2016 over Q2 September 2015.

Divis Laboratories is primarily engaged in the manufacture of active pharmaceutical ingredients (APIs) & intermediates for generics, custom synthesis of APIs and advanced intermediates for discovery compounds for pharma giants, building blocks for peptides, building blocks for nucleotides, carotenoids and chiral ligands.

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D-Link (India) moves north on fund buying
Dec 27,2016

Meanwhile, the S&P BSE Sensex was up 94.43 points or 0.37% at 25,901.53.

On the BSE, 37,000 shares were traded on the counter so far as against the average daily volumes of 1.09 lakh shares in the past one quarter. The stock had hit a high of Rs 109.80 and a low of Rs 107.95 so far during the day.

The stock had hit a 52-week high of Rs 181 on 1 January 2016 and a 52-week low of Rs 75.25 on 21 September 2016. It had outperformed the market over the past one month till 26 December 2016, surging 29% compared with the Sensexs 1.94% fall. The scrip had also outperformed the market in past one quarter, advancing 22.68% as against the Sensexs 8.79% fall.

The small-cap company has equity capital of Rs 7.10 crore. Face value per share is Rs 2.

D-Link (India)s net profit rose 107% to Rs 7.12 crore on 16.6% growth in net sales to Rs 201.79 crore in Q2 September 2016 over Q2 September 2015.

D-Link is engaged in the design, manufacture and marketing of advanced networking, broadband, digital, voice and data communications solutions.

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Godrej Properties provides update on Godrej BKC project in Mumbai
Dec 27,2016

Godrej Properties announced that Godrej BKC, its commercial project in Mumbai has received the Leadership in Energy and Environmental Design (LEED) Platinum certification. With this, Godrej BKC become the only multi-occupant building in BKC, Mumbais new commercial center, to be LEED Platinum certified.

LEED Platinum certification is globally recognised the highest rating for sustainable buildings.

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Godrej Properties provides update on Godrej BKC project in Mumbai
Dec 27,2016

Godrej Properties announced that Godrej BKC, its commercial project in Mumbai has received the Leadership in Energy and Environmental Design (LEED) Platinum certification. With this, Godrej BKC become the only multi-occupant building in BKC, Mumbais new commercial center, to be LEED Platinum certified.

LEED Platinum certification is globally recognised the highest rating for sustainable buildings.

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Glenmark Pharma gains after USFDA approval for Tretinoin capsules
Dec 27,2016

The announcement was made during trading hours today, 27 December 2016.

Meanwhile, the BSE Sensex was up 70.88 points, or 0.27%, to 25,877.98.

On the BSE, so far 11,000 shares were traded in the counter, compared with average daily volumes of 58,492 shares in the past one quarter. The stock had hit a high of Rs 900.95 and a low of Rs 883.50 so far during the day.

The stock hit a 52-week high of Rs 993 on 1 November 2016. The stock hit a 52-week low of Rs 671.50 on 12 February 2016.

Glenmark Pharmaceuticals Inc., USA (Glenmark) received final approval from the United States Food & Drug Administration (USFDA) for Tretinoin capsules, 10 milligrams (mg), the generic version of Vesanoid capsules, 10 mg, of Hoffmann La Roche, Inc. (which is no longer being marketed in the United States).n++n++

According to IMS Health sales data for the 12 month period ending October 2016, the Vesanoid Capsules, 10 mg market achieved annual sales of approximately $22 million.

n++n++Glenmarks current portfolio consists of 112 products authorized for distribution in the US marketplace and 63 abbreviated new drug application (ANDA)s pending approval with the USFDA. In addition to these internal filings, Glenmark continues to identify and explore external development partnerships to supplement and accelerate the growth of its existing pipeline and portfolio.n++n++

On a consolidated basis, Glenmark Pharmaceuticals net profit rose 3.46% to Rs 223.59 crore on 15.67% rise in net sales to Rs 2173.18 crore in Q2 September 2016 over Q2 September 2015.

Glenmark Pharmaceuticals is a research‐driven, global, integrated pharmaceutical organization headquartered at Mumbai, India.

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About 950 million Indians are out of reach Internet: ASSOCHAM-Deloitte study
Dec 27,2016

Mobile data plans in India are among the cheapest in the world and the average retail price of smartphones are steadily declining, yet the Internet is out of the reach of nearly 950 million Indians, according to ASSOCHAM-Deloitte joint study.

Internet penetration is increasing in India, the access to affordable broadband, smart devices and monthly data packages is required to spread digital literacy to make their ends meet, noted the study titled Strategic national measures to combat cybercrime, jointly conducted by ASSOCHAM and research firm Deloitte.

Existing government infrastructure assets should be further leveraged for provision of digital services at remote locations. Digital literacy needs to be increased by providing institutional trainings in schools, colleges and universities; accelerating partnerships with global technology leaders and using the workforce trained under Skill India to impart trainings. An integrated approach between Digital India and Skill India needs to be constructed to design programmes and impart training.

The government should increase awareness regarding the value add of technology to increase technology adoption. The benefits of technology such as increase in the standard of living of the weaker sections of society and enhancing financial inclusion should be communicated to citizens.

Private sector players should be incentivized to develop infrastructure, provide services and promote digital literacy as part of the Digital India program. Start-ups should be involved to create and customize apps to local needs to increase adoption of digital technology, adds the joint study.

India has over 1,600 languages and various dialects. This diversity has resulted in strong language barriers. In areas where people only use local languages, integration of local language and technology is required to drive digital literacy.

Fear of cybercrime and breach of privacy has been a deterrent in adoption of digital technologies in India. In order to encourage people to switch to digital means, it is important to provide awareness and education on cyber security, risks and safeguarding of information on the internet.

Mobile platforms and internet enabled programs should be used to improve the accessibility of training programmes. Credibility and recognition of certifications provided by various initiatives is key to successful development of digital literacy. Sector Skills Councils (SSCs) associated with sub-sectors should get industry inputs on curriculum, trainings and services. Further, industry players should be compelled to recognize the credibility of certificates issued, noted the study.

The various stakeholders (different government programs, ministries, institutions, industries etc.) involved in imparting digital literacy need to work in coordination to obtain the most effective implementation. This will require transparency of information, workflow management and timely updates on the progress of various factions.

A framework needs to be defined for participation of the private sector in skill development programs which defines the role of the private sector, expectations in terms of investments, content and job guarantees.

Skill training and digital literacy should be introduced as part of institutional trainings in schools, colleges and universities across India. Curriculum and interactive programmes should be mandated to ensure adequate digital skills of all graduates. Skill building for Digital India Building skills required to achieve the Digital India vision.

India faces a severe shortage of well trained and skilled workers. It is estimated that only 2.3% of the workforce in India has undergone formal skill training versus over 50% in the developed countries. This shortage is accentuated in the electronic and digital sectors. However, to achieve inclusive growth, skilled and well-trained manpower is critical. Several strides have been made towards developing the right skills required to support Digital India and e-governance initiatives.

The top barriers to adoption of technologies in the economically weaker sections of society as well as in MSMEs include cost and affordability. Most telecom operators so far have not invested significantly in development of high speed access networks in rural areas. Similarly, MSMEs also have low awareness of government and stakeholder schemes that could lead to numerous benefits.

A key hindrance to adoption of technology is the low rate of digital literacy in India. Several initiatives undertaken by the government and other organisations are expected to improve the digital literacy rate in the coming years which will in turn result in an increase in adoption of technology and digital services.

While there has been an increase in localized content and applications, content still remains limited in several local and regional languages. Most applications that exist have been driven by the government. Private sector involvement remains limited to proof of concepts (PoCs) in limited test environments.

The speed at which digital infrastructure (especially fiber networks) is being developed needs to be increased. Existing government infrastructure assets (e.g., post offices, government buildings, CSCs) should be further leveraged for provision of digital services at remote locations.

Digital literacy needs to be increased by providing institutional trainings in schools, colleges and universities; accelerating partnerships with global technology leaders and using the workforce trained under Skill India to impart trainings. An integrated approach between Digital India and Skill India needs to be constructed to design programmes and impart training.

The government should increase awareness regarding the value add of technology to increase technology adoption. The benefits of technology such as increase in the standard of living of the weaker sections of society and enhancing financial inclusion should be communicated to citizens.

Private sector players should be incentivized to develop infrastructure, provide services and promote digital literacy as part of the Digital India program. Start-ups should be involved to create and customize apps to local needs to increase adoption of digital technology.

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Deepak Nitrite recovers on bargain hunting
Dec 27,2016

Meanwhile, the S&P BSE Sensex was up 27.09 points or 0.1% at 25,834.19.

On the BSE, 2,917 shares were traded on the counter so far as against the average daily volumes of 61,111 shares in the past one quarter. The stock had hit a high of Rs 83.55 and a low of Rs 82.10 so far during the day.

The stock had hit a record high of Rs 134.25 on 9 September 2016 and a 52-week low of Rs 56.10 on 12 February 2016. It had underperformed the market over the past one month till 26 December 2016, sliding 12.67% compared with the Sensexs 1.94% fall. The scrip had also underperformed the market in past one quarter, declining 30.78% as against the Sensexs 8.79% fall.

The small-cap company has equity capital of Rs 23.26 crore. Face value per share is Rs 2.

Shares of Deepak Nitrite tumbled 17.6% in the preceding seven straight trading sessions to settle at Rs 81.65 yesterday, 26 December 2016, from its close of Rs 99.10 on 15 December 2016.

In a recent development on the counter, Quest Investment Advisors on 23 December 2016 sold 35.35 lakh shares of Deepak Nitrite at an average price of Rs 85.12 per share in bulk deals on the NSE. Reliance Mutual Fund-Reliance Small Cap Fund bought 35.73 lakh shares at Rs 85.06 a piece. Quest is an investment management services firm.

Deepak Nitrites net profit rose 4.3% to Rs 15.41 crore on 10.6% decline in net sales to Rs 299.07 crore in Q2 September 2016 over Q2 September 2015.

Deepak Nitrite is a multi-division and multi-product company. The companys portfolio is a wide spectrum of products with diverse applications ranging from agrochemicals, rubber, pharmaceuticals, paper, textile, detergent, colourants, petrochemicals to speciality and fine chemicals.

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Glenmark Pharmaceuticals gets final approval for Tretinoin Capsules
Dec 27,2016

Glenmark Pharmaceuticals has been granted final approval by the United States Food & Drug Administration (USFDA) for Tretinoin Capsules, 10 mg, the generic version of Vesanoid Capsules, 10 mg, of Hoffmann La Roche, Inc. (which is no longer being marketed in the United States).

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Glenmark Pharmaceuticals gets final approval for Tretinoin Capsules
Dec 27,2016

Glenmark Pharmaceuticals has been granted final approval by the United States Food & Drug Administration (USFDA) for Tretinoin Capsules, 10 mg, the generic version of Vesanoid Capsules, 10 mg, of Hoffmann La Roche, Inc. (which is no longer being marketed in the United States).

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Empee Distilleries slips after board withdraws proposed sale of shares in Empee Hotels
Dec 27,2016

The announcement was made after market hours yesterday, 26 December 2016.

Meanwhile, the BSE Sensex was up 42.72 points, or 0.17%, to 25,849.82.

On the BSE, so far 1,935 shares were traded in the counter, compared with average daily volumes of 36,729 shares in the past one quarter. The stock had hit a high of Rs 51.25 and a low of Rs 50.60 so far during the day.

The stock hit a 52-week high of Rs 105.65 on 4 January 2016. The stock hit a 52-week low of Rs 44.50 on 22 November 2016. The stock had outperformed the market over the past 30 days till 26 December 2016, falling 0.58% compared with the 1.94% fall in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 27.29% as against Sensexs 8.56% decline.

The small-cap company has equity capital of Rs 19.01 crore. Face value per share is Rs 10.

The board of directors of Empee Distilleries in the meeting held yesterday, 26 December 2016, called off the proposed sale of 1.95 crore equity shares of Rs 10 each held by the company in Empee Hotels, an unlisted entity.

Empee Distilleries reported net loss of Rs 5.92 crore in Q2 September 2016 as against net profit of Rs 4.91 crore in Q2 September 2015. Net sales declined 30.9% to Rs 121.03 crore in Q2 September 2016 over Q2 September 2015.

Empee Distilleries principal activity is manufacture and sale of Indian made foreign liquor.

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Coordination between the Central & State administration is important for smooth transition of GST regime so that taxpayer of country does not suffer
Dec 27,2016

The Union Finance Minister Shri Arun Jaitley said that there is an urgent need for change in mindset and India has to move towards a mindset of voluntary compliance. He said that the payment of legitimate taxes should be considered as part of the process and nobody should think that tax evasion is acceptable. The Finance Minister further said that the payment of due tax is a responsibility of every citizen. Addressing the young IRS Officers, the Finance Minister inspired them to be hardworking and efficient while ensuring integrity and credibility in their careers. The Finance Minister expressed his faith in the probationers to be able to carry-out the onerous task of smooth rolling-out and administering the new indirect tax administration system i.e. Goods and Services Tax (GST). Shri Jaitley impressed upon the gathering the importance of coordination between the Central and the State administrations in smooth transition from the old to the new Indirect Tax regime so that the taxpayer of the country does not suffer. The Finance Minister also reminded the officers that the economy of the country is undergoing major changes and that shall continue to challenge them to be capable officers at every stage of their career. The Finance Minster stressed on the Culture of Correctness and Fairness that every officer should follow in their work as Revenue Officers. He also wished NACEN well in the construction of the new Training Campus and Academy in Palasamudram, Hindupur, Andhra Pradesh. He concluded his address by motivating the officer trainees to train well and become officers who can lead this country into economic glory.

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