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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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Tayo Rolls provides update on closure of operations
Nov 30,2016

Tayo Rolls has filed a Writ Petition in the Jharkhand High Court against the rejection order for closure of operations of the Company under Section 25-0 of the Industrial Disputes Act, 1947. The Writ Petition has been admitted by the High Court for hearing.

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Corporatize Indian Agriculture: Dr. Ajit Kumar
Nov 30,2016

Vice Chancellor, National Institute of Food Technology Entrepreneurship and Management, Dr. Ajit Kumar pitched for corporatization of farming sector to integrate agriculture and farmers with prosperity and well being as this could be the single Mantra to double the farmers income as is being intended by the government of the day under Prime Minister Mr. Modi.

He also recommended that close to a lakh of Indian traditional dishes across the country should be standardized for its quality and hygienic values to make them globally popular as the National institute of food technology entrepreneurship and management has already identified thirteen such dishes for which equipment and tools will be put in place for their wider commercial circulation.

Dr. Kumar said that privatization of agriculture was not the solution for doubling farmers income as the experiment has hardly yielded the desired results.

n++What ought to be experiment in the modern times is encouragement for corporatization of Indian agriculture as the government cannot be expected to alone explore the unexplored and un-negotiated territories and patches including landscapes of Indian agriculture with its own investments and technological tools. Therefore, corporatization could be an answer to serve this un-chartered territory to bring in prosperity among farmers and farming community by leasing out their land to corporates as with their investments, the Indian agriculture could see better daysn++, said Dr. Kumar.

According to him, the another strategy that could follow for betterment of farmers should be to equip all the villages with primary and secondary food storages in which their farm produce could be stored and farmers are equipped and linked with such facilities for gaining in higher returns for their produce.

Principal Secretary, Industries & Commerce, New & Renewable Energy & CEO, Invest Punjab, Mr. Anirudh Tewari also endorsed the views expressed by Dr. Ajit Kumar adding that Punjab is the attracting hub for industries that wish to explore its agriculture sector as the State provide for more than 14% of incentives in terms of infrastructure to such investors as compared to other parts of the country.

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UCO Bank gains after allotting preferential shares to LIC
Nov 30,2016

The announcement was made after market hours yesterday, 29 November 2016.

Meanwhile, the S&P BSE Sensex was up 104.27 points or 0.4% at 26,498.28.

On the BSE, 63,000 shares were traded on the counter so far as against the average daily volumes of 2.22 lakh shares in the past one quarter. The stock had hit a high of Rs 34.30 and a low of Rs 33.85 so far during the day. The stock had hit a 52-week high of Rs 50.15 on 1 December 2015. The stock had hit a 52-week low of Rs 27.80 on 15 February 2016. The stock had outperformed the market over the past one month till 29 November 2016, declining 3.31% compared with the Sensexs 5.54% fall. The scrip had, however, underperformed the market in past one quarter, sliding 16.52% as against the Sensexs 5.41% fall.

The mid-cap bank has equity capital of Rs 1488.03 crore. Face value per share is Rs 10.

The shares issued to Life Insurance Corporation of India (LIC) will be under lock-in for a period of one year from the date of trading from the stock exchanges. LIC owned 11.88% stake in UCO Bank end September 2016.

UCO Bank reported net loss of Rs 384.83 crore in Q2 September 2016, compared with net profit of Rs 156.20 crore in Q2 September 2015.

The Government of India held 77.54% stake in UCO Bank end September 2016.

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Vivimed Labs intimate of successful USFDA inspection of FDF facility in Alathur
Nov 30,2016

Vivimed Labs announced that its FDF manufacturing facility located in Alathur, near Chennai has had a favourable outcome post its US Food and Drug Administration (USFDA) inspection. The audit was conducted during the last week of November and concluded on 28 November 2016.

Furthermore, Vivimed obtained ANDA approval for Metronidazole and same is commercialised. During November 2016, the Company acquired ANDA of Zolpidem and the file transfer has successfully been completed. lt is expected to be commercialised by Q4 FY2O17. Vivimed is on trackof its filing targets and has successfully completed 3 ANDA filings during FY2017 and expect one more filing to be completed by Q4 FY2017. These products provide vertical integration with the inhouse APls.

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Interactive Financial Services announces change in registered office
Nov 30,2016

Interactive Financial Services announced that the registered office of the Company has been changed to A-1006, Premium house, B/h Handloom house, Ashram Road, Ahmedabad - 380009.

Tel No: 91-79-26582851
Fax No: 91-79-26582328

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Board of Centum Electronics approves proposal for further investment in Adetel Group SA
Nov 30,2016

Centum Electronics announced that the Board of Directors of the Company at its meeting held on 29 November 2016 approved the proposal for further investment in Adetel Group SA. With the proposed investment, Centum Electronics stake in Adetel Group will increase from 51% to 54%. Further, the above investment will be done through the wholly owned subsidiary company, Centum Electronics UK.

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Eros International advances on fund raising plans
Nov 30,2016

The announcement was made after market hours yesterday, 29 November 2016.

Meanwhile, the BSE Sensex was up 115.17 points, or 0.44%, to 26,509.66.

On the BSE, 7,267 shares were traded so far in the counter, compared with average daily volume of 43,372 shares in the past one quarter. The stock had hit a high of Rs 174.90 and a low of Rs 170.10 so far during the day. The stock had hit a 52-week high of Rs 274 on 4 December 2015. The stock had hit a 52-week low of Rs 125.90 on 29 February 2016. The stock had underperformed the market over the past one month till 29 November 2016, falling 12.25% compared with 5.54% fall in the Sensex. The scrip had also underperformed the market in past one quarter, falling 21.39% as against Sensexs 5.41% decline.

The small-cap company has equity capital of Rs 93.71 crore. Face value per share is Rs 10.

Eros International Media said that the meeting of board of directors of the company will be held on 2 December 2016, to consider and approve the proposal to raise funds through issue and offer of secured/unsecured, redeemable, non convertible debentures on public/private placement basis, in one or more tranches, upto the limit as may be decided by the board.

On a consolidated basis, net profit of Eros International Media fell 32.9% to Rs 62.99 crore on 5.2% decline in net sales to Rs 478.79 crore in Q2 September 2016 over Q2 September 2015.

Eros International Media operates in the Indian film entertainment industry. It acquires, co-produces and distributes Indian films across all available formats such as cinema, television and digital new media.

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Lupin gets final approval for Generic Nuvigiln++ Tablets
Nov 30,2016

Lupin announced that its subsidiary, Lupin Pharmaceuticals Inc. has received final approval for its Armodafinil Tablets 50 mg, 150 mg, 200 mg and 250 mg from the United States Food and Drug Administration to market a generic version of Cephalon Incs Nuvigil Tablets mg, 150 mg, 200 mg and 250 mg. Lupin Pharmaceutical shall commence promoting the product in the US shortly.

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HCC nudges higher on mulling preferential share allotment
Nov 30,2016

The announcement was made after market hours yesterday, 29 November 2016.

Meanwhile, the S&P BSE Sensex was up 131.10 points or 0.5% at 26,525.11.

On the BSE, 3.95 lakh shares were traded on the counter so far as against the average daily volumes of 28.59 lakh shares in the past one quarter. The stock had hit a high of Rs 34.70 and a low of Rs 34.25 so far during the day. The stock had hit a 52-week high of Rs 41.90 on 14 September 2016. The stock had hit a 52-week low of Rs 16.60 on 12 February 2016. The stock had underperformed the market over the past one month till 29 November 2016, declining 7.02% compared with the Sensexs 5.54% fall. The scrip had, however, outperformed the market in past one quarter, surging 46.96% as against the Sensexs 5.41% fall.

The small-cap company has equity capital of Rs 77.92 crore. Face value per share is Rs 1.

Hindustan Construction Companys (HCC) board at its proposed board meeting on 2 December 2016, would consider issue of equity shares representing 24.44% of the expanded capital and also optionally convertible debentures (OCDs) on preferential basis, to be allotted collectively to the individual lenders. In this context, the company plans to convene an extraordinary general meeting (EGM) for seeking shareholders approval.

HCCs net profit fell 42.8% to Rs 23.08 crore on 8.2% decline in net sales to Rs 759.03 crore in Q2 September 2016 over Q2 September 2015.

HCC is into infrastructure development in transportation, power and water segments.

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Gillette India appoints company secretary and compliance officer
Nov 30,2016

Gillette India announced that Flavia Machado has been appointed as Company Secretary & Compliance Officer of the Company effective 30 November 2016.

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Board of India Home Loans to consider preferential issue of shares
Nov 30,2016

India Home Loans announced that a Board meeting has been scheduled on 2 December 2016 to consider the preferential issue and allotment of 29,11,755 equity shares of the Company to following investors - JM Financial Products, Chetan R Shah (HUF), Shailaja C Shah and Sonal M Shah.

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Board of Ovobel Foods appoints company secretary
Nov 30,2016

Ovobel Foods announced that the Board of Directors of the Company at its meeting held on 29 November 2016 has approved the appointment of Ritu Singh as Company Secretary and Compliance Officer with effect from 29 November 2016.

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GIC Estimates Size Of Non-Life Insurance Growing Five Times By 2026, Says Its Secretary General
Nov 30,2016

Secretary General, General Insurance Council, Mr. R Chandrasekaran forecast the size of non-life and liability insurance would grow five times by next decade as non-life and liability insurance is gradually growing a risk mitigation exercise in India.

Inaugurating a Seminar on Financial Risks & Liability Insurance : Current Scenario and Way forward organized by the PHD Chamber of Commerce and Industry, Mr. Chandrasekaran emphasized that with proper policy, ongoing innovations and regulations in place, the non-life and liability insurance which is currently estimated at a size of 3%, however, will stay put at this number for another 4-5 years and subsequently frogleap.

According to him, a great deal of public exercise and campaigning is called for to arise public awakening for larger participation of stakeholders in this non-life segment to enable it realize its latent potential.

Supportive regulations and policies are also needed for the growth of non-life insurance which would come about as this is what has happened for life insurance to pick up in India in the past, indicated Mr. Chandrasekaran and also urged the PHD Chamber to carry such conferences across other Tier-1 and Tier-2 cities of India.

In his opening remarks, Vice President, PHD Chamber, Mr. Anil Khaitan also hoped that with changing India, its liability and non-life insurance will also grow faster than anticipated as the Chamber is confident of its estimated growth and diversification.

Speaking on the occasion, Chairman, Insurance Committee of the Chamber, Mr. Yogesh Lohiya also exuded confidence saying that with skilling, digital and Make in India picking required pace, the non-life insurance sector is poised for higher growth. What is required is a massive campaign to promote this branch of insurance.

Managing Director, Nilam Sharma, Ms. Nilam Sharma in her presentation detailed out her perception on Directors and Officers relating to non-life insurance and their role to diversify and expand this sector.

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Sarda Energy & Minerals spurts after restarting mining operations
Nov 30,2016

The announcement was made after trading hours yesterday, 30 November 2016.

Meanwhile, the BSE Sensex was up 92.11 points, or 0.35%, to 26,486.12.

On BSE, so far 59,000 shares were traded in the counter, compared with average daily volume of 86,198 shares in the past one quarter. The stock hit a high of Rs 256.65 and a low of Rs 235.50 so far during the day. The stock hit a 52-week high of Rs 296.60 on 1 November 2016. The stock hit a 52-week low of Rs 75.50 on 26 February 2016. The stock had underperformed the market over the past 30 days till 29 November 2016, falling 15.83% compared with the 5.50% decline in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 33.55% as against Sensexs 7.23% decline.

The small-cap company has equity capital of Rs 36.02 crore. Face value per share is Rs 10.

On 9 March 2016, Sarda Energy & Minerals announced temporary suspension of operation at its iron ore mine in Dongarbore (Chhattisgarh) after a naxalite attack on 7 March 2016, which caused death of one employee and damage of a few vehicles.

Net profit of Sarda Energy & Minerals rose 250.3% to Rs 12.54 crore on 2.7% decline in net sales to Rs 253 crore in Q2 September 2016 over Q2 September 2015.

Sarda Energy & Minerals (SEML) is one of the lowest cost producers of steel (sponge iron, billets, ingots, TMT bars) and one of the largest manufacturers and exporters of ferro alloys in India.

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Vivimed Labs spurts after unit successfully completes USFDA inspection
Nov 30,2016

The announcement was made after market hours yesterday, 29 November 2016.

Meanwhile, the S&P BSE Sensex was up 78.36 points or 0.3% at 26,472.37.

On the BSE, 3.78 lakh shares were traded on the counter so far as against the average daily volumes of 2.89 lakh shares in the past one quarter. The stock had hit a high of Rs 107.40 and a low of Rs 102 so far during the day. The stock had hit a record high of Rs 121.15 on 4 October 2016. The stock had hit a 52-week low of Rs 68 on 9 August 2016. The stock had underperformed the market over the past one month till 29 November 2016, declining 13.97% compared with the Sensexs 5.54% fall. The scrip had, however, outperformed the market in past one quarter, advancing 24.63% as against the Sensexs 5.41% fall.

The large-cap company has equity capital of Rs 16.20 crore. Face value per share is Rs 2.

The audit was conducted during the last week of November and concluded on 28 November 2016. Furthermore, Vivimed obtained abbreviated new drug application (ANDA) approval for Metronidazole and same is commercialised. During November 2016, the company acquired ANDA of Zolpidem and the file transfer has successfully been completed. It is expected to be commercialised by Q4 March 2017.

Vivimed is on track of its filing targets and has successfully completed 3 ANDA filings during the current financial year and expect one more filing to be completed by Q4 March 2017. These products provide vertical integration with the in-house active pharmaceutical ingredients (APIs).

Santosh Varalwar, Managing Director of Vivimed Labs, said the company is on track with its filings pipeline which are expected to bear fruits when these products start to commercialise over the next 18-24 months.

On a consolidated basis, Vivimed Labs net profit rose 12.4% to Rs 26.85 crore on 11.5% decline in net sales to Rs 298.36 crore in Q2 September 2016 over Q2 September 2015.

Vivimed Labs is a niche specialty chemicals and pharmaceuticals company.

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