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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 Punjab Communications to consider December quarter results
Jan 16,2017

Punjab Communications announced that the 189th meeting of the Board of Directors of the Company is proposed to be convened on 14 February 2017, to take on record the Un-audited (Provisional) Quarterly Financial Results of the Company for the quarter ended on 31 December 2016.

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Board of Vikas EcoTech approves preferential issue of 2 crore new shares
Jan 16,2017

Vikas EcoTech announced that the Board of Directors of the Company at its meeting held on 16 January 2017 passed the resolution subject to approval of shareholders, to issue 2 crore new shares to Jayant Chheda, Chairman, Prince Pipes and Fittings on preferential basis. After this allotment, Jayant Chhedas stake in the Company will exceed 8%. He already owns 1.26% stake in the Company through an investment made in July 2016. His company Prince Pipes and Fittings is a long term and strategic customer of Vikas EcoTech. The total funds of Rs 34 crore will be utilised for expansion of R&D facilities, setting up new manufacturing plants and strengthening marketing efforts for both domestic and export markets.

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Board of Panama Petrochem to consider Q3 and 9M results
Jan 16,2017

Panama Petrochem announced that the meeting of the Board of Directors of the Company will be held on 11 February 2017, inter-alia, to consider and approve the standalone and consolidated unaudited financial results of the Company for the third quarter / nine months ended 31 December 2016.

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Board of Oriental Veneer Products to consider Q3 results
Jan 16,2017

Oriental Veneer Products announced that the meeting of the Board of Directors of our Company is scheduled to be held on 27 January 2017, inter alia, to transact the following business:

1. To consider and approve the un-audited financial results of the Company for the third quarter ended 31 December 2016 as prescribed under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

2. To consider the Limited Review Report for the third quarter ended 31 December 2016.

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Board of Srikalahasthi Pipes to consider Q3 and 9M results
Jan 16,2017

Srikalahasthi Pipes announced that a Meeting of the Board of Directors of the Company will be held on 04 February 2017, inter alia, to consider and approve Un-audited Financial Results of the Company for the quarter and nine months period ended 31 December 2016.

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V-Mart Retail announces resignation of company secretary and compliance officer
Jan 16,2017

V-Mart Retail announced that Sudhir Kumar has resigned from the Company as Company Secretary & Compliance Officer w.e.f. closing of business hours on 13 January 2017.

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Outcome of board meeting of CMI
Jan 16,2017

CMI announced that the Board of Directors of the Company at its meeting held on 16 January 2017 approved the following -

Issue of a maximum of 5 lakh equity shares to promoters / promoter group on preferential basis. The equity shares shall be issued at an issue price of Rs 300 (including Rs 290 towards premium) per share.

The Board has taken note of additional working capital facilities from Rs 100 crore to Rs 150 crore provided by Syndicate Bank. The enhanced limits shall be released by the bank in January 2017.

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NHPC shuts down of TLDP-III (4x33) 132 MW Power Station in West Bengal
Jan 16,2017

NHPC announced that TLDP-III (4 X 33) 132 MW Power Station in West Bengal shall be under complete shutdown w.e.f. 16 January 2017 to 23 January 2017 for restoration work of GIS (Line-I Bay).

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Modern India to announce Q3 results
Jan 16,2017

Modern India announced that a Meeting of the Board of Directors of the Company will be held on 02 February 2017, inter-alia, to consider and approve the Unaudited Financial Results for 3rd Quarter ended 31 December 2016.

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Board of KLRF to consider Q3 and 9M results
Jan 16,2017

KLRF announced that a meeting of the Board of Directors of the Company will be held on 25 January 2017, inter alia, to consider among other matters and to take on record the Companys unaudited financial results for the quarter and nine months ended 31 December 2016

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WPI inflation rises to 3.4% in December 2016
Jan 16,2017

The Wholesale Price Index (WPI)-based inflation rose to 3.4% in December 2016 from 3.2% in November 2016, while snapping decline for last three straight months. An increase in WPI inflation was mainly driven by higher inflation for fuel and basic metals items, while inflation for food items declined sharply in December 2016.

Inflation of primary articles dipped to 0.3% in December 2016 from 1.3% in November 2016. However, the inflation for manufactured products rose to 3.7% in December 2016. Further, the inflation for fuel items accelerated further to 8.7% in December 2016 from 7.1% in November 2016.

As per major commodity group-wise, inflation eased for food grains, fruits, vegetables, fish marine, poultry chicken, spices, fibres, flowers, sugar, tea & coffee products, textiles, wood products and leather products in December 2016. On the other hand, inflation of oilseeds, raw rubber, metallic minerals, crude petroleum, mineral oils, grain mill products, edible oils, beverages and tobacco products, rubber products, chemical products, basic metals, machinery and tools, and transport equipment rose in December 2016.

Inflation of food items (food articles and food products) eased to 2.8% in December 2016 from 4.4% in November 2016. Meanwhile, inflation of non-food items (all commodities excluding food items) moved up to 3.7% in December 2016 from 2.6% in November 2016.

Core inflation (manufactured products excluding foods products) accelerated to 2.1% in December 2016 from 1.5% in November 2016.

The contribution of primary articles to the overall inflation, at 3.15%, was 08 basis points (bps) in December 2016 compared with 36 bps in November 2016. The contribution of manufactured products was 206 bps compared with 179 bps, while that of fuel product group was 129 bps against 106 bps in November 2016.

The contribution of food items (food articles and food products) to inflation fell to 91 bps in 3.39% in December 2016 compared with 140 bps to 3.15% in November 2016. Meanwhile, the contribution of non-food items (all commodities excluding food items) was 250 bps in December 2016 compared with 179 bps in November 2016.

As per the revised data, the inflation figure for October 2016 was revised up to 3.8% compared with 3.4% reported provisionally.

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Ramco Systems gains after new order win
Jan 16,2017

The announcement was made during market hours today, 16 January 2017.

Meanwhile, the S&P BSE Sensex was up 22.55 points, or 0.08%, to 27,260.61

On the BSE, 28,000 shares were traded in the counter so far, compared with average daily volume of 48,401 shares in the past one quarter. The stock had hit a high of Rs 383 and a low of Rs 366.60 so far during the day.

The stock had hit a 52-week high of Rs 814 on 3 May 2016. The stock had hit a 52-week low of Rs 286 on 15 December 2016. The stock had outperformed the market over the past 30 days till 13 January 2017, rising 25.07% compared with the 2.71% rise in the Sensex. The scrip, however, underperformed the market in past one quarter, sliding 20.94% as against Sensexs 1.57% decline.

The small-cap aviation software provider has equity capital of Rs 30.34 crore. Face value per share is Rs 10.

Logistics conglomerate, the Transworld Group, announced that it has chosen Ramco Systems HCM and Payroll offering to automate its Human Resources hire-to-retire functionality on a single unified platform. Ramco HCM with Global Payroll will cover the entire gamut of HR processes along with Core HR, Recruitment, Talent Management, Leave, Time & Attendance and Payroll for over 1000 employees of the company.

Commenting on the win, Virender Aggarwal, CEO, Ramco Systems said that the companys HCM offering has witnessed massive traction in Middle East across verticals and is continuing to grow winning the trust of leading business conglomerates. Ramco HCM with features like Mobility and Chatbots, will play a pivotal role in digitizing HR processes and improving time-bound operations of the company, Virender Aggarwal said.

Ramco Systems reported consolidated net loss of Rs 1.17 crore in Q2 September 2016 compared with consolidated net profit of Rs 0.9 crore in Q1 June 2016. Consolidated net sales rose 2.48% to Rs 112.39 crore in Q2 September 2016 over Q1 June 2016.

Ramco Systems is an enterprise software player offering multi-tenanted cloud and mobile-based enterprise software in the area of HCM and Global Payroll, ERP and M&E MRO for Aviation.

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Demonetisation Triggers Shift from Unorganised to Organised Retail, Card Transactions rise upto 90% of Total Sales in Q3FY17
Jan 16,2017

Demonetisation has catapulted the shift from unorganised to organised retail sector in the light of the cash crunch, says India Ratings and Research (Ind-Ra). While the market expected the sector to witness contraction in Q3FY17 post demonetisation, Ind-Ra expects most companies in the organised retail sector to post low single digit growth with varying impact across different sub-sectors. Ind-Ra expects organised retailers in the food, grocery and fashion retail segments to be unaffected, high value items namely jewellery, luxury items (watches), consumer durables to show contraction in topline in 3QFY17.

Ind-Ra has been assessing the situation post 8 November 2016 and based on our interaction with the management of companies in the retail segment, Ind-Ra believes the impact of demonetisation across retail segments will vary, depending on the nature of consumption (discretionary/non-discretionary), ticket size and ease of adoption of alternate modes of payment.

Organised Retailers Insulated, High Value Items Feel Pain: Organised retailers in the food, grocery and value to premium fashion retail segments have been insulated from the influence of demonetisation in 3QFY17, given the relatively low average ticket size of transactions (around INR2,000) and the willingness of consumers to switch to cashless transactions. However for segments of high value, namely jewellery, luxury items (watches), consumer durables where the transaction value is high and the purchases are more discretionary in nature and presumably the use of unaccounted for money is higher, even organised retail is likely to report de-growth in 3QFY17.

Organised Food and Grocery Retailers Win: Organised food and grocery retailers are the biggest beneficiaries of demonetisation and are expected to post a healthy double digit growth and even like to like sales growth in 3QFY17. The cash crunch impaired the traditional wholesale and retail channels and led to a shift in consumers from local grocery stores/neighborhood stores to supermarkets/hypermarkets. Additionally, footfalls were also driven by the availability of cash withdrawal facility from the POS machines installed at some of these stores supported by the discount and promotional offers. The consumers were quick in adopting the digital mode of payment and the share of cash transactions declined to about 20% from about 50%-60% earlier. Companies in the segment will however face the challenge of building customer stickiness and retaining the growth momentum witnessed in the last two months as the traditional channel emerges from the disruption in Q4.

Organized Fashion Retailers Recover from Knee Jerk Reaction: Contrary to the popular belief, organised fashion retailers (departmental stores) have bucked the impact of demonetisation. After the sharp decline in footfalls as well as volumes in the first week post demonetisation, revenue growth recovered and is likely to be in high single digit to double digits in 3QFY17 on the back of festive season and early commencement of end of season sale in December 2016. Most of these departmental stores are located in Metros and Tier I and II cities where consumers were readily shifting to card payments; resulting in the share of cards as a percentage of revenue increasing to 80%-90% in the last quarter (averages around 40%-50%). Additionally, the impact on margins due to the end of season sale was largely counterbalanced by the waiver of fee on POS transactions through debit cards which were earlier in the range of 0.75%-1%. Further, companies in this segment continue to be on track with their store opening plans for 2HFY17.

Share of digital wallets is still below 5-10% in the both these segments and the industry is gearing towards increasing the share of digital wallets and launching their own wallets as well.

Organized Retail Jewelers to De-grow: Organised retail jewelers is likely to report minimal growth to de-growth year on year in Q3 revenues as consumer demand remained muted in the aftermath of demonetisation. Margins are also likely to be impacted given the high operational leverage in the segment; albeit supported by higher gold prices for most part of the demonetisation period. Companies are cautious on restocking to reduce any liquidity pressure which may arise due to reduced offtake.

It remains to be seen whether organised retail will continue to gain market share at the cost of unorganised retail post re-monetisation or the customers will go back to their preferred mode of transaction once the currency notes are replaced completely.

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GE Shipping gains on plan to raise Rs 500 crore via NCDs
Jan 16,2017

The announcement was made during trading hours today, 16 January 2017.

Meanwhile, the BSE Sensex was up 24.02 points, or 0.09%, to 27,262.08.

On the BSE, so far 1,435 shares were traded in the counter, compared with average daily volumes of 19,449 shares in the past one quarter. The stock had hit a high of Rs 387.30 and a low of Rs 384.55 so far during the day.

The stock hit a 52-week high of Rs 397.60 on 1 November 2016. The stock hit a 52-week low of Rs 275 on 2 March 2016. The stock had outperformed the market over the past 30 days till 13 January 2017, rising 4.03% compared with the 2.71% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 2.30% as against Sensexs 1.57% decline.

The mid-cap company has equity capital of Rs 150.78 crore. Face value per share is Rs 10.

Great Eastern Shipping Company (GE Shipping) said that the debenture issue committee at its meeting held on 16 January 2017 has approved the issue of 5,000 unsecured non-convertible debentures (NCDs) of Rs 10 lakh each, aggregating to Rs 500 crore by way of private placement. The NCDs are offering interest rate of 7.99% per annum.

On a consolidated basis, net profit of GE Shipping declined 23.99% to Rs 268.75 crore on 21.12% decline in net sales to Rs 794.51 crore in Q2 September 2016 over Q2 September 2015.

GE Shipping has two main business: shipping and offshore. The shipping business is involved in transportation of crude oil, petroleum products, gas and dry bulk commodities. The offshore business services to the oil companies in carrying out offshore exploration and production activities, through its subsidiary Greatship (India).

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Board of Sayaji Hotels approves availing of credit facility of Rs 25 crore
Jan 16,2017

Sayaji Hotels announced that the Board of Directors of the Company at its meeting held on 14 January 2017, inter alia, has considered and approved the following;

- Approval of the sanction letter of Aditya Birla Finance for availing their credit facility of Rs 25.00 crore.

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