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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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Sudarshan Chemical Industries to consider December quarter results
Dec 23,2016

Sudarshan Chemical Industries announced that a meeting of the Board of Directors of the Company will be held on 10 February 2017, inter alia, to consider and approve the Unaudited Financial Accounts of the Company for the quarter ending on 31 December 2016.

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Rudraksh Cap-Tech provides business update
Dec 23,2016

Rudraksh Cap-Tech announced that the Companys application for auction house for sale and purchase of stamps and coins and antiques which was pending because of the name change process has been successfully processed.

The Company will soon commence auctions under its banner Alexander Stamps and Coins. The information for the same will be available on www.RudrakshCap-tech.com and www.Alexanderstampsandcoin.com

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Sugar shares in demand
Dec 23,2016

Oudh Sugar Mills (up 15.98%), Rana Sugars (up 13.22%), Upper Ganges Sugar & Industries (up 9.99%), Dwarikesh Sugar Industries (up 9.86%), Simbhaoli Sugars (up 9.28%), Sakthi Sugars (up 7.14%), Dhampur Sugar Mills (up 6.48%), DCM Shriram Industries (up 6.32%), Empee Sugars and Chemicals (up 5.64%), Triveni Engineering & Industries (up 5.04%), Balrampur Chini Mills (up 4.65%), Shree Renuka Sugar (up 4.24%), KCP Sugar & Industries Corporation (up 3.76%), EID Parry (India) (up 1.47%) and Bajaj Hindusthan Sugar (up 0.21%), edged higher.

The S&P BSE Sensex was down 5.24 points, or 0.02% at 25,974.36.

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Merck appoints director
Dec 23,2016

Merck announced that Zoe Tang has been appointed as the Non- Executive Director of the Company effective 23 December 2016.

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Kwality Pharmaceuticals fixes record date for interim dividend
Dec 23,2016

Kwality Pharmaceuticals has fixed 06 January 2017 as the Record Date for the purpose of payment of interim dividend for the year 2016-17.

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Hexaware Technologies fixes record date for buyback of shares
Dec 23,2016

Hexaware Technologies has fixed 06 January 2017 as the Record Date for the purpose of ascertaining entitlement for Buyback of Equity Shares.

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Themis Medicare announces resignation of director
Dec 23,2016

Themis Medicare has received resignation letter from Dharmisthaben Raval dated 22 December 2016 with immediate effect due to personal reasons. Dharmisthaben N. Raval was associated with the Company as an Independent Woman Director on the Board.

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Gujarat Themis Biosyn announces resignation of director
Dec 23,2016

Gujarat Themis Biosyn announced that the Company has received resignation letter from Dharmisthaben Raval dated 22 December 2016 with immediate effect due to personal reasons. Dharmisthaben N. Raval was associated with the Company as an Independent Woman Director on the Board.

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Board of Hinduja Ventures approves divestment of stake held in Hinduja Energy
Dec 23,2016

Hinduja Ventures announced that the Board of Directors at its meeting held 22 December 2016 has approved the disinvestment of 4,36,47,056 equity shares of Rs. 10/- each held by the Company in Hinduja Energy (India), in tranches, as per Independent Valuation of Rs. 31.58/- per share to third party.

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UNCTAD sees cause for concern in sluggish trade growth
Dec 23,2016

Unusual trends in international trade statistics, such as the falling value of world trade in goods and services even as the global economy grew in 2015, give cause for concern, said an UNCTAD report released on 22 December 2016. Last year, 2015, was the first time since 2001 that the value of trade has fallen during a period of economic expansion, according to the report - Key Indicators and Trends in International Trade 2016 - which noted that the volume of trade still grew about 1.5%.

In other words, while many exporters had to cope with lower prices, they saw no decline in export volumes, the report said. Although positive growth is consistent with the overall economic trends, there are still reasons to be concerned.

To start with, the growth of trade volume has been below the overall growth of the world economy, something that has seldom happened in the last few decades and only during economic downturns as in 2001 and 2009, the report said.

Second, trade volumes have been rather unstable, showing substantial volatility during 2015 across quarters and across countries. Trade volumes have increased for the world as a whole, but for many countries trade volumes have in fact decreased.

Finally, it is arguable whether the physical growth in international trade can continue in a deflationary economic environment, the report said. The concern is that many exporters may not be able to maintain their position in the markets for long when facing reduced financial returns.

The sharp decline in international trade results from several factors, both nominal and structural.

Falling commodity prices and the appreciating US Dollar contributed most to the nominal fall in world trade, with oil prices going from an average of more than $100 per barrel in 2014 to about $50 per barrel in 2015. The trade weighted US dollar index appreciated by almost 15% between 2014 and 2015.

But deflationary factors can explain only some of the trade collapse in 2015. In fact, falling commodity prices explain only half of the 2015 decline in world trade.

The sluggish growth of 2012-2014 and the magnitude of the decline in trade of goods and services in 2015 suggest a change in the dynamics behind the international integration process, the report said.

Indeed, the most commonly used index to gauge globalization trends - the ratio of the value of world trade over global GDP - indicate a decline in economic interdependence, it added.

Part of the reason for this is that global value chains are shortening. Many countries, including those in East Asia, are reshoring and consolidating manufacturing production processes.

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Board of Kwality Pharmaceuticals approves interim dividend
Dec 23,2016

Kwality Pharmaceuticals announced that the Board of Directors of the Company at its meeting held on 22 December 2016, inter-alia has considered and approved interim dividend @ 6% i.e. Re. 0.60 (Sixty Paise only) per equity share of Rs. 10/- each on the equity share capital of the company for the year 2016-17.

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Goodluck India gains as board to consider allotment of warrants to promoters
Dec 23,2016

The announcement was made after market hours yesterday, 22 December 2016.

Meanwhile, the BSE Sensex was down 73.16 points, or 0.28%, to 25,906.44.

On the BSE, so far 7,388 shares were traded in the counter, compared with average daily volumes of 14,582 shares in the past one quarter. The stock had hit a high of Rs 88 and a low of Rs 80.60 so far during the day.

The stock hit a record high of Rs 134.40 on 3 August 2016. The stock hit a 52-week low of Rs 75.95 on 17 February 2016. The stock had underperformed the market over the past 30 days till 22 December 2016, falling 7.36% compared with the 0.28% fall in the Sensex. The scrip had also underperformed the market in past one quarter, falling 27.42% as against Sensexs 9.38% decline.

The small-cap company has equity capital of Rs 4.40 crore. Face value per share is Rs 2.

Net profit of Goodluck India declined 60.2% to Rs 4.41 crore on 3.7% rise in net sales to Rs 281.40 crore in Q2 September 2016 over Q2 September 2015.

Goodluck India changed its name from Good Luck Steel Tubes in June 2016. The company is engaged in manufacturing and exporting of a wide range of galvanized sheets & coils, towers, hollow sections, CR coils CRCA and pipes & tubes. It also specializes in providing telecommunication structures, ERW steel tubes, ERW steel pipes, and galvanized black steel tubes.

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Welspun Enterprises drops as board approves buyback offer
Dec 23,2016

The announcement was made after market hours yesterday, 22 December 2016.

Meanwhile, the S&P BSE Sensex was down 73.36 points, or 0.28%, to 25,906.24

On the BSE, 24,000 shares were traded on the counter so far as against the average daily volumes of 1.24 lakh shares in the past one quarter. The stock had hit a high of Rs 60.50 and a low of Rs 58.55 so far during the day.

The stock hit a 52-week high of Rs 75.30 on 3 November 2016. The stock hit a 52-week low of Rs 43 on 12 February 2016. The stock had outperformed the market over the past 30 days till 22 December 2016, rising 5.04% compared with the 0.28% fall in the Sensex. The scrip also outperformed the market in past one quarter, falling 4.43% as against Sensexs 9.38% decline.

The small-cap company has equity capital of Rs 174.28 crore. Face value per share is Rs 10.

Welspun Enterprises said that with a view of utilising the companys substantial cash reserves and in order to enhance shareholder value, the board has approved buy back of 25% of the companys share capital. The buyback would be at Rs 62 per share in cash for an aggregate consideration not exceeding Rs 270 crore, Welspun Enterprises said. The promoter group, except the foreign co-promoters holding 2.17%, have indicated their intention to participate in the proposed buyback, the company said.

Welspun Enterprises reported net profit of Rs 2.86 crore in Q2 September 2016 as compared with net loss of Rs 6.18 crore in Q2 September 2015. Net sales rose 16.93% to Rs 33.22 crore in Q2 September 2016 over Q2 September 2015.

Welspun Enterprises is an operating company in the infrastructure business. The company also has investments in the oil and gas exploration.

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Better access to G20 markets could boost exports from poorest countries by 15%: UNCTAD
Dec 23,2016

The worlds poorest countries are barely engaging in the global economy, but fully liberalising trade for these countries into G20 markets could boost their exports by about 15%, according to an UNCTAD report released on 22 December 2016. While least developed countries (LDCs) account for about 12% of the worlds population, their share in global exports stands at about 1%, the report - Key Indicators and Trends in Trade Policy 2016 - says.

Boosting exports from LDCs could help accelerate economic growth, generate jobs, and provide financial resources for sustainable and inclusive development. Recognising the importance of trade for LDCs, the sustainable development goals (SDGs) include Target 17.11 to Increase significantly the exports of developing countries, in particular with a view to doubling the least developing countries share of global exports by 2020.

Weve seen some progress in the last decade, but the participation of least developing countries in the global economy remains marginal, says Guillermo Valles, Director of UNCTADs Division on International Trade in goods and services and Commodities.

To double the LDC share of global exports - and achieve the SDG target - the trick will be not just to fix the issue of tariffs but to do the non-tariff measures too, he said.

The report finds that LDCs generally trade much less than the size of their economies would suggest. The export-to-GDP ratios of the 48 LDCs are on average about 25%, substantially less than the average for other developing countries of about 35%.

This indicator has been on a clear downward trend since 2011 and it shows the LDC struggle to integrate into the global economy, Valles said.

Generally speaking, G20 countries support LDCs through a range of mechanisms to facilitate trade, such as duty-free and quota-free access. But removing all tariffs could boost LDC exports to G20 countries by about $10 billion per year.

Similarly, reducing the distortionary effects of non-tariff measures (NTMs) could boost LDC exports by about $23 billion per year. But this requires a more complex approach. NTMs such as quality standards serve public policy objectives and cannot be removed without disrupting these objectives.

Therefore, the report says, reducing the distortionary effects of NTMs comes not from removing them, but from helping LDCs to comply.

Taken together, fully liberalising market access for LDCs and eliminating the negative trade effect of NTMs on LDCs would increase their exports by about 15%, the report says.

The textile and apparel sectors - as well as some agricultural categories - would benefit most, it says.

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Modest losses at Wall Street
Dec 23,2016

U.S. stocks ended Thursdays thinly-traded preholiday session with modest losses on 22 December 2016. Investors seemed reluctant to bid up prices of indexes that are already hovering near all-time highs. The S&P 500 and Nasdaq Composite booked their first consecutive losses in three weeks, as the n++Trump rallyn++ lost momentum over the past few sessions.

The Dow Jones Industrial Average finished 23.08 points, or 0.1%, lower at 19,918.88. The blue-chip index struggled to hit 20,000 as the psychologically important level has eluded it for days amid stalled momentum. The S&P 500 closed 4.22 points, or 0.2%, lower at 2,260.96, only 11 points below its all-time high set last week. The tech-heavy Nasdaq Composite declined 24.01 points, or 0.4%, at 5,447.42, but is still hovering near its record level set on Tuesday.

Of the S&P 500s 11 main sectors, seven closed in negative territory. Consumer discretionary stocks were among the biggest losers, with the sectors finishing 1% lower.

The ICE Dollar Index was up less than 0.1% on Thursday. The dollar gauge, which measures the strength of the buck against a basket of six currencies.

At Wall Street there was mixed U.S. economic indicators on Thursday. A reading of third-quarter gross domestic product was lifted to a gain of 3.5% on an annual basis, while durable-goods orders fell for the first time in five months in November.

Separately, U.S. jobless claims climbed to the highest level since mid-June, rising 21,000 to 275,000. But even with this increase, overall levels of layoffs are still very low.

Bullion prices ended lower at Comex on Thursday, 22 December 2016. Gold prices on Thursday declined for a third straight session, adding to their December retreat, even as the dollar fell from a 14-year high notched earlier this week.

Gold for February delivery fell $2.50, or 0.2%, to settle at $1,130.70 an ounce, after logging narrow declines on Tuesday and Wednesday. For the week, gold is down 0.5%. If the metal logs another weekly loss on Friday, it will be the seventh weekly loss for gold in a row. March silver fell 10.8 cents, or 0.7%, to settle at $15.87 an ounce on Thursday.

Crude-oil futures settled firmly higher on Thursday, 22 December 2016 at Nymex bouncing back after slumping a day earlier on reports of a surprise buildup in U.S. inventories. A strong report on U.S. gross domestic product and a larger-than-expected drawdown of natural-gas supplies helped to revive sentiment that domestic appetite for crude products may be able to sop up supplies in tandem with an agreement by the Organization of the Petroleum Exporting Countries to curb global production.

West Texas Intermediate crude for delivery in February picked up 46 cents, or 0.9%, to settle at $52.95 a barrel. Meanwhile, February Brent crude on Londons ICE Futures exchange added 59 cents, or 1.1%, to close at $55.05 a barrel.

Futures climbed as the U.S. Energy Information Administration reported on Thursday that natural gas inventories declined by 209 billion cubic feet during the week ended 16 December 2016, more than double the average for this time of year.

Treasuries ended the day on a mostly lower note with the 10-yr yield rising one basis point to 2.55%.

Intraday investor participation was below average, but a volume surge into the close lifted the NYSE floor total above yesterdays level of 850 million to more than 875 million.

Tomorrows economic data will be limited to the 10:00 ET release of November New Home Sales (consensus 573,000) and the final reading of the Michigan Sentiment Index for December (consensus 98.2).

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