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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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Vardhman Polytex announces resignation of director
May 19,2017

Vardhman Polytex announced that Rakhi Oswal, Non- Executive Director of the Company, due to personal reasons, has resigned from the Board of the Company with effect from 15 May 2017.

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Jolly Plastic Industries shifts registered office
May 19,2017

Jolly Plastic Industries announced that the the Registered Office of the Company will be shifted from 7, Sidhi Vinayak, Shivshakti Complex, KantaStri Vikas Gruh, Main Road Pujara Plot, Rajkot -360003 (Gujarat) to 407, Sudarshan Commercial Complex , Limda Chowk, Rajkot-360001 Gujarat w.e.f from 01 May 2017.

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Igarashi Motors India plans scheme of amalgamation and bonus issue
May 19,2017

Igarashi Motors India plans for amalgamation of Agile Electric Sub Assembly with the Company and issue of bonus shares post the proposed merger. The proposals would be considered at board meeting on 27 May 2017.

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Vakrangee to launch Vision Statement
May 19,2017

Vakrangee will launch is Vision Statement providing insights and understanding on how the Company plans to shape its future according to its Vision Statement. The event is scheduled for 19 May 2017 on a live Webcast.

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PVR plans issue of NCDs up to Rs 500 crore
May 19,2017

PVR plans to issue NCDs up to Rs 500 crore. The proposal for the same to be considered at board meeting on 30 May 2017.

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The 14th Goods and Services Tax (GST) Council meeting approves GST rates for goods and GST Compensation Cess
May 19,2017

The 14th Goods and Services Tax (GST) Council Meeting, chaired by the Union Minister of Finance Shri Arun Jaitley, was held at Srinagar, Jammu and Kashmir yesterday. The fitment of rates of goods were discussed during the Council meeting. The Council has broadly approved the GST rates for goods at nil rate, 5%, 12%, 18% and 28% to be levied on certain goods. The Council has also broadly approved the rates of GST Compensation Cess to be levied on certain goods.

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Rajesh Exports bags order worth Rs 1140 crore
May 19,2017

Rajesh Exports has secured an order worth Rs 1140 crore from UAE. The order is to be completed by September 2017. With this order, the order book at the consolidated level stands at 36820 crore.

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SBI gains after robust Q4 results
May 19,2017

The result was announced during trading hours today, 19 May 2017.

Meanwhile, the S&P BSE Sensex was down 22.74 points, or 0.07% to 30,412.05.

On the BSE, 18.57 lakh shares were traded in the counter so far, compared with average daily volumes of 19.79 lakh shares in the past one quarter. The stock had hit a high of Rs 310.70 and a low of Rs 302.20 so far during the day.

The stock hit a 52-week high of Rs 309.85 on 19 May 2017. The stock hit a 52-week low of Rs 166.60 on 24 May 2016.

The stock had outperformed the market over the past one month till 18 May 2017, rising 6.60% compared with 3.74% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 12.70% as against Sensexs 6.91% rise.

The large-cap company has equity capital of Rs 810.99 crore. Face value per share is Re 1.

State Bank of Indias (SBI) gross non-performing assets (NPAs) stood at Rs 112342.99 crore as on 31 March 2017 as against Rs 108172.32 crore as on 30 December 2016 and Rs 98172.80 crore as on 31 March 2016.

The ratio of gross NPAs to gross advances stood at 6.90% as on 31 March 2017 as against 7.23% as on 31 December 2016 and 6.50% as on 31 March 2016.

The ratio of net NPAs to net advances stood at 3.71% as on 31 March 2017 as against 4.24% as on 31 December 2016 and 3.81% as on 31 March 2016.

The banks provisions and contingencies fell 10.88% to Rs 11740.09 crore in Q4 March 2017 over Q4 March 2016. Of this, provisions for NPAs fell 9.44% to Rs 10992.92 crore in Q4 March 2017 over Q4 March 2016.

Provision coverage ratio of the bank was at 65.95% as on 31 March 2017.

Government of India holds 61.23% stake in State Bank of India (SBI) (as on 31 March 2017).

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L&T Power secures export orders worth Rs 300 crore
May 19,2017

The Power Business of Larsen & Toubro through its joint venture company L&T MHPS Boilers has secured export orders worth approximately Rs 300 crore from Mitsubishi Hitachi Power Systems, Japan.

The LMB contracts include supply of pressure parts to 2x1000 MW and 1x650 MW power plants in Indonesia and Japan, respectively, for water wall panel, coil, piping and header.

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Board of State Bank of India recommends final dividend
May 19,2017

State Bank of India announced that the Board of Directors of the Company at its meeting held on 19 May 2017, inter alia, have recommended the final dividend of Rs 2.6 per equity Share (i.e. 260%) , subject to the approval of the shareholders.

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Cummins India to pay final dividend
May 19,2017

Cummins India announced that dividend warrants for final dividend (subject to approval of shareholders at the ensuing Annual General Meeting) will be dispatched by 30 August 2017 and the final dividend will be paid on 01 September 2017

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State Bank of India to pay dividend
May 19,2017

State Bank of India announced that dividend of Rs 2.60 per share for FY 2017 will be paid on 06 June 2017.

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Board of Motherson Sumi Systems recommends bonus issue
May 19,2017

The Board of Directors of Motherson Sumi Systems at its meeting held on 19 May 2017 have recommended the issue of Bonus Shares in the ratio of 1 (one) Bonus Shares against the 2 (two) existing shares subject to the approval of the shareholders. Further that Board also recommended a Dividend of Rs. 2/- per equity share (face value of Re. 1/- each) for the financial year ended 31 March 2017 on the expanded share capital (including the proposed Bonus Shares), subject to the approval of the shareholders at Annual General Meeting.

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CESC jumps on bargain hunting
May 19,2017

Meanwhile, the S&P BSE Sensex was up 54.09 points, or 0.18% to 30,488.88.

On the BSE, 4.27 lakh shares were traded in the counter so far, compared with average daily volumes of 51,624 shares in the past one quarter. The stock had hit a high of Rs 885 and a low of Rs 850 so far during the day. The stock hit a record high of Rs 1,001.85 on 16 May 2017. The stock hit a 52-week low of Rs 531.35 on 2 June 2016.

The stock had underperformed the market over the past one month till 18 May 2017, falling 6.96% compared with 3.74% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 3.49% as against Sensexs 6.91% rise.

The large-cap company has equity capital of Rs 132.56 crore. Face value per share is Rs 10.

Shares of CESC fell 15.68% in three trading sessions to settle at Rs 829.80 yesterday, 18 May 2017, from its close of Rs 984.15 on 15 May 2017.

The stock slumped 15.10% in a single trading session to settle at Rs 829.80 yesterday, 18 May 2017, after the company announced its restructuring plan. The announcement was made during trading hours yesterday, 18 May 2017.

The restructuring scheme includes amalgamation of CESC Infrastructure, Spencers Retail and Music World Retail with CESC; demerger of power generation undertaking to Haldia Energy; demerger of retail undertaking I (as defined in the scheme) of the company and retail undertaking 2 (as defined in the scheme) of Spencers Retail to RP-SG Retail. Further, the scheme includes demerger of IT undertaking of the company to RP-SG Business Process Services.

As per the scheme, Spen Liq will be amalgamated with RP-SG Business Process Services and New Rising Promoters will be amalgamated with Crescent Power.

The scheme includes reduction and cancellation of the existing share capital of Haldia Energy, RP-SG Retail and RP-SG Business Process Services. Further, it includes reduction of the face value of the equity share of CESC from Rs 10 per share to Rs 5 per share and subsequent consolidation of two equity shares of the company of Rs 5 each into one equity share of Rs 10 each.

The equity shares of Haldia Energy, RP-SG Retail and RP-SG Business Process Services will be listed on Calcutta Stock Exchange, BSE, and National Stock Exchange of India, post effectiveness of the scheme. The shareholders of the company will get shares in these listed companies in the same proportion as their holding in the company.

Post restructuring, in addition to the IT undertaking, the RP-SG Business Process Services will house various other ventures of the group, inter alia, property, entertainment and fast moving consumer goods business. As part of this alignment investments in/by Guiltfree Industries and Apricot Foods will also be held by RP-SG Business Process Services.

Meanwhile, the company announced its Q4 March 2017 results during trading hours yesterday, 18 May 2017. CESCs net profit rose 0.7% to Rs 295 crore on 6.7% increase in net sales to Rs 1572 crore in Q4 March 2017 over Q4 March 2016.

CESC is a fully-integrated electrical utility company. The companys other business segments include power, organized retailing, property development and business process outsourcing.

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GMDC leads gainers on BSEs A group
May 19,2017

Gujarat Mineral Development Corporation (GMDC) rose 5.20% at Rs 133.60. The stock topped the gainers in A group. On the BSE, 8.23 lakh shares were traded on the counter so far as against the average daily volumes of 2.73 lakh shares in the past two weeks.

CESC rose 4.71% at Rs 868.85. The stock was the second biggest gainer in A group. On the BSE, 4.05 lakh shares were traded on the counter so far as against the average daily volumes of 96,000 shares in the past two weeks.

ITC rose 4.32% at Rs 290.05. The stock was the third biggest gainer in A group. On the BSE, 16.15 lakh shares were traded on the counter so far as against the average daily volumes of 5.86 lakh shares in the past two weeks.

Colgate-Palmolive (India) rose 3.90% at Rs 1,017.55. The stock was the fourth biggest gainer in A group. On the BSE, 64,000 shares were traded on the counter so far as against the average daily volumes of 24,000 shares in the past two weeks.

Suzlon Energy rose 3.25% at Rs 20.65. The stock was the fifth biggest gainer in A group. On the BSE, 1.06 crore shares were traded on the counter so far as against the average daily volumes of 77.50 lakh shares in the past two weeks.

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