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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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MoAs signed for first wind auction Scheme ; Another wind auction Scheme for 1000 MW announced
May 04,2017

The Memorandum of Agreements (MoAs) for purchase of 1000 MW wind power under MNREs first wind auction Scheme were signed here today between PTC India, the trading company, and Discoms of Uttar Pradesh, Bihar, Jharkhand, Delhi, Odisha and Assam. The signing ceremony took place during the two days Conference of Power, New & Renewable Energy & Mines Ministers of States and UTs.

As per MoAs the Discoms of UP to buy 449.9 MW, Bihar- 200 MW, Jharkhand - 200 MW, Delhi - 100 MW, Assam - 50 MW and Odisha - 50MW of wind power for meeting their non-solar RPO.

The Letter of Award (LoA) to the successful wind power developers under the first wind auction scheme have been issued by Solar Energy Corporation of India (SECI) on 5 April 2017 and the projects are to be commissioned within 18 months from the date of issue of LoA.

This was the first time such auction process was done in the country for wind power through e-reverse auction and its success can be seen from the fact that a record low tariffs of Rs. 3.46 per kWh was obtained.

With the success of first wind auction scheme, MNRE today launched Scheme for another round of wind auction for 1000 MW capacity wind power projects.

The Scheme is open for all obligated entities purchasing wind power for compliance of their non-solar RPO. The differentiation between windy and non-windy States has been done away with. The SECI will sign Power Purchase Agreements with selected wind developers and back-to-back Power Sale Agreements with buying utilities.

Further, provision of 10% additional capacity for Central Public Sector Entities (CPSEs) has been kept under the Scheme without participation in the bidding, however, they have to supply wind power at lowest discovered tariff through bidding process.

Background

Ministry sanctioned a Scheme for setting up of 1000 MW ISTS connected Wind Power Project on 14 June 2016 with the objective to encourage competitiveness through scaling up of project sizes and introduction of efficient and transparent e-bidding and e-auctioning processes.

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Board of HDFC grants in-principle approval for issue of Rupee Denominated Bonds
May 04,2017

Housing Development Finance Corporation announced that the Board of Directors of the Company has granted its in-principle approval for issuance of Rupee Denominated Bonds to overseas investors up to an amount not exceeding Rs 5000 crore under the automatic route.

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Prime Focus Technologies partners with Turner Latin America
May 04,2017

Prime Focus Technologies, the technology arm of Prime Focus,has signed an agreement with Turner Latin America, where PFTs CLEARn++ Broadcast Cloud will provide work order and supply chain management along with end-to-end process monitoring of critical tasks, with reports and dashboards.

CLEAR is the worlds first Hybrid Cloud-enabled Media ERP Suite, and its Broadcast Cloud module is specifically designed to support end-to-end broadcast operations - from creation to transformation, distribution and exhibition. CLEAR Broadcast Cloud will effectively bring Turner Latin Americas ecosystem of creators, partners and customers of long and short form content onto a single system.

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L&T Technology Services signs definitive agreement to acquire Esencia Technologies
May 04,2017

L&T Technology Services has signed a definitive Agreement to acquire Esencia Technologies Inc, USA. The acquisition will also include its Indian subsidiary i.e. Esencia Technologies India. The transaction is expected to be completed around end of May 2017.

The total deal value is $27 million paid in tranches.
- $9 million upfront
- $6 million after 1 year
- $12 million over 4 years (earn out & incentives) based on achieving the revenue and PAT targets.

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Punj Llyod inaugurates small arms manufacturing plant
May 04,2017

Punj Llyod and its JV Partner, Israel Weapon Industries inaugurated the countrys first private sector small arms manufacturing plant in Malanpur in Madhya Pradesh. The joint venture company, Punj Llyod Raksha Systems will be manufacturing small arms for the Indian Defence Forces and also for export.

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ABB India inaugurates remote services center and new production line
May 04,2017

ABB India has inaugurated two new facilities that supports the nations digital transformation, energy saving technology and rise in industrial productivity. In Bengaluru, ABB launched Indias first digitalized remote service center for its energy saving drives solutions and added a new production line for digitalized low voltage drives. The ABB remote service center will provide 24x7 access to information and support on drives installed at customer facilities for predictive maintenance and condition monitoring for all industries including power, cement, oil and gas,metals, food & beverage and many other applications. The new center is the third of its kind in the ABB global footprint and is now fully activated in India. It will support customer installations in India and around the world.

The new production line manufactures digitally enabled low voltage drives (ACS560 and ACS580 series). The drive information in the cloud can be accessed securely with daily devices like smartphones. Drives are an environmentally friendly option to use energy efficiently while running motors based on their current load instead of running them onfull speed continuously. These drives provide multiple energy optimization features, are easily commissioned via smartphone, and include features for uninterrupted operations during power fluctuations.

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Jaypee Infratech announces resignation of director
May 04,2017

Jaypee Infratech announced that the Board of Directors has accepted the resignation of Gaurav Jain from the office of Director of the Company through resolution by circulation with effect from 04 May 2017, submitted by him due to some personal reasons.

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Solar Industries India gets reaffirmation in ratings for bank facilities
May 04,2017

Solar Industries India announced that CRISIL has reaffirmed the ratings of the Companys bank loan facilities amounting to Rs 750 crore as under -

Long term - CRISIL AA/ Positive (Outlook revised from stable and rating reaffirmed)

Short term - CRISIL A1+ (Reaffirmed)

Commercial Paper - CRISIL A1+ (Reaffirmed)

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HDFC slips after poor Q4 result
May 04,2017

The result was announced during market hours today, 4 May 2017.

Meanwhile, the S&P BSE Sensex was up 235.32 points or 0.79% at 30,130.12

On the BSE, 2.19 lakh shares were traded on the counter so far as against the average daily volumes of 2.54 lakh shares in the past one quarter. The stock had hit a high of Rs 1,586 and a low of Rs 1,555.35 so far during the day. The stock had hit a record high of Rs 1,589.85 on 26 April 2017 and a 52-week low of Rs 1,096 on 3 May 2016.

The large-cap company has equity capital of Rs 317.73 crore. Face value per share is Rs 2.

On a consolidated basis, HDFCs net profit fell 11.01% to Rs 3079.33 crore on 5.35% growth in total income to Rs 18040.59 crore in Q4 March 2017 over Q4 March 2016.

HDFC is Indias first retail housing finance company and is currently one of the largest originators of housing loans in the country.

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IndusInd Bank allots 41,839 equity shares
May 04,2017

IndusInd Bank has allotted 41,839 (Forty One Thousand Eight Hundred Thirty Nine) equity shares of Rs. 10/- (Rupees Ten Only) each on 04 May 2017 to those grantees who had exercised their option under the Companys Employee Stock Option Scheme. The said shares will rank pari-passu with the existing shares of the Company in all respect. Please take the above on record and upload this announcement on the website of the Exchange

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Housing Development Finance Corporation to pay final dividend
May 04,2017

Housing Development Finance Corporation announced that final dividend, if approved by the members, will be paid on 27 July 2017.

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BASF India to pay dividend
May 04,2017

BASF India announced that dividend will be payable on or after 03 October 2017.

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20 Microns announces change in directorate
May 04,2017

20 Microns announced that the Board of Directors by passing Circular Resolution on 04 May 2017 - - accepted resignation letters received from Sudhir R. Parikh, Non-Executive Non-Independent Director and Darsha R. Kikani, Independent Director of the Company - appointed Sejal R. Parikh as an Additional Director of the Company in the category of Non-Executive Non-Independent Woman Director.

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Toyam Industries makes foray into sports and merchandise segments
May 04,2017

Toyam Industries announced that as decided in the Board of Directors meeting held on 28 April 2017, it has made an entry into sports, merchandise, fitness, health products and sports cafn++ segment. The company management has carried out a feasibility study and future planning along with growth projections in the area of sports and related business segments. The company is launching an integrated fight league platform in India. It is registered under the name and impression of K1L Kumite 1 League.

The company is launching its K1L series of products and services by opening a sports cafn++ in the month of July 2017 in Mumbai. This would be a great value addition to the company, in a broader aspect. Right from commencement of sports league to merchandise and fitness centers in all major cities in India, to penetration in tier two cities and expanding into overseas markets.

Shortly, the company will announce launching date of different K1L products and services in India. The company is already under talks with various regulatory authorities to facilitate launch of season 1 of the said sports league K1L. K1L will also be a franchise based model, which will bring additional revenue and help increase base of the company in tier three cities.

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ICICI Bank leads gainers in A group
May 04,2017

ICICI Bank jumped 9.07% to Rs 297.50 at 14:55 IST. The stock topped the gainers in the BSEs A group. On the BSE, 1.18 crore shares were traded on the counter so far as against the average daily volumes of 20.34 lakh shares in the past two weeks. ICICI Banks net profit jumped 188.5% to Rs 2024.64 crore on 10.8% decline in total income to Rs 16585.76 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 3 May 2017.

Indian Overseas Bank surged 7.75% to Rs 31.30. The stock was the second biggest gainer in A group. On the BSE, 34.17 lakh shares were traded on the counter so far as against the average daily volumes of 5.66 lakh shares in the past two weeks.

Coromandel International gained 7.91% at Rs 400.55. The stock was the third biggest gainer in A group. On the BSE, 2.73 lakh shares were traded on the counter so far as against the average daily volumes of 66,000 shares in the past two weeks.

Gujarat State Fertilizers & Chemicals advanced 6.25% at Rs 141.90. The stock was the fourth biggest gainer in A group. On the BSE, 12.92 lakh shares were traded on the counter so far as against the average daily volumes of 5.06 lakh shares in the past two weeks.

Exide Industries rose 6.29% to Rs 236.40. The stock was the fifth biggest gainer in A group. On the BSE, 7.01 lakh shares were traded on the counter so far as against the average daily volumes of 1.87 lakh shares in the past two weeks.

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