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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 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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Max Ventures and Industries to hold EGM
Jan 16,2017

Max Ventures and Industries that the Extra Ordinary General Meeting (EGM) of the Company will be held on 07 February 2017.

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Board of Prime Property Development Corporation to consider December quarter results
Jan 16,2017

Prime Property Development Corporation announced that a meeting of the Board of Directors of the Company will be held on 25 January, 2017, inter-alia, to discuss, consider, approve and take on record the Un-Audited Financial Results for the Quarter ended on 31 December 2016.

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Tata Sponge Iron gets reaffirmation of ratings of bank limits
Jan 16,2017

Tata Sponge Iron announced that ICRA has reaffirmed the long-termand short-term rating assigned to the fund based and non-fund based bank limits of the Company.

Fund Based Limits - Term Loan (Rs 304.25 crore) - [ICRA]AA (Stable) reaffirmed

Fund Based Limits - Cash Credit (Rs 110 crore) - [ICRA]AA (Stable) reaffirmed

Non-Fund Based Limits (Rs 313.15 crore) - [ICRA]A1+ reaffirmed

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Advance PowerInfra Tech to consider December quarter results
Jan 16,2017

Advance PowerInfra Tech announced that a meeting of the Board of Directors of the Company to be held on 14 February 2017, inter alia, to consider the Unaudited Financial Results (Provisional) of the Company for the quarter ended 31 December 2016.

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Board of Marsons to consider December quarter results
Jan 16,2017

Marsons announced that a meeting of the Board of Directors of the Company will be held on 14 February 2017, inter alia, to consider and take on record the Unaudited Financial Results (Provisional) of the Company for the quarter ended 31 December 2016.

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SPML Infra spurts after winning new orders
Jan 16,2017

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

Meanwhile, the BSE Sensex was up 32.37 points, or 0.12%, to 27,270.43.

On the BSE, so far 5.08 lakh shares were traded in the counter, compared with average daily volumes of 2,721 shares in the past one quarter. The stock had hit a high of Rs 66.95 and a low of Rs 55.85 so far during the day.

The stock hit a 52-week high of Rs 108.80 on 13 July 2016. The stock hit a 52-week low of Rs 48.70 on 22 November 2016. The stock had outperformed the market over the past 30 days till 13 January 2017, rising 4.10% compared with the 2.71% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 14.81% as against Sensexs 1.57% decline.

The small-cap company has equity capital of Rs 7.33 crore. Face value per share is Rs 2.

SPML Infra said it received several new orders for power substation, rooftop solar power plant, water & waste-water treatment, and municipal solid waste management projects from different states in India.

Net profit of SPML Infra declined 84.2% to Rs 0.48 crore on 7.8% rise in net sales to Rs 302.84 crore in Q2 September 2016 over Q2 September 2015.

SPML Infra is an infrastructure development company of India.

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Board of Network 18 Media & Investments approves change in directorate and change in CFO
Jan 16,2017

Network 18 Media & Investments announced that the Board of Directors of the Company at its meeting held on 14 January 2017 has approved the following -

Approved appointment of -
PMS Prasad as Non Executive Director
K R Raja as Non Executive Director
Ramesh Kumar Damani as CFO

Accepted the resignation of -
Rohit Bansal and Vinay Chhajlani from Directorship of the Company.
Hariharan Mahadevan as CFO

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Tata Motors in top gear as foreign brokerage hikes target price
Jan 16,2017

Meanwhile, the S&P BSE Sensex was up 34.20 points or 0.13% at 27,272.26

On the BSE, 1.98 lakh shares were traded on the counter so far as against the average daily volumes of 5.29 lakh shares in the past one quarter. The stock had hit a high of Rs 524.50 and a low of Rs 517.20 so far during the day.

The stock had hit a 52-week high of Rs 598.60 on 7 September 2016 and a 52-week low of Rs 266 on 11 February 2016. The stock had outperformed the market over the past 30 days till 13 January 2017, rising 11.05% compared with the 2.71% rise in the Sensex. The scrip, however, underperformed the market in past one quarter, sliding 7.35% as against Sensexs 1.57% decline.

The large-cap company has equity capital of Rs 577.44 crore. Face value per share is Rs 2.

Jaguar Land Rovers (JLR) new model Discovery in second half of current financial year and mid sized Range Rover in the year ending 31 March 2018 (FY 2018) are key products in pipeline, the brokerage reportedly said. Even benefits of significant pound depreciation will flow through into JLRs margin, it added. Sterling pound has depreciated 17% since January 2016.

On 10 January 2017, Tata Motors had announced that Tata Motors Groups global wholesales rose 4% to 95,081 units in December 2016 over December 2015.

On 9 January 2017, Tata Motors subsidiary Jaguar Land Rover (JLR) reported 12% rise in total retail sales to 55,375 units in December 2016 over December 2015.

Tata Motors reported consolidated net profit of Rs 848.16 crore in Q2 September 2016, compared with net loss of Rs 1740.20 crore in Q2 September 2015. Net sales rose 6.7% to Rs 65140.75 crore in Q2 September 2016 over Q2 September 2015.

Tata Motors is a market leader in commercial vehicles in India. The companys British luxury unit Jaguar Land Rover (JLR) sells premium luxury cars.

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Let Budget be presented on 01 February 2017- ASSOCHAM
Jan 16,2017

Making a strong appeal to different political parties to let the Union Budget for 2017-18 be presented to Parliament on February 1, the apex industry chamber ASSOCHAM said the advancement to this effect would help the government to begin its capital and other expenditure right from April and revive the much needed economic growth.

n++The decision of the Central Government for advancing the date of the Budget is well thought out from the point of view of revival of the economic sentiment. As is evident, the consumer demands as also corporate investment have rather been subdued owing to a host of factors. Under these circumstances, the only option in the immediate future is the government expenditure gathering pace and creating a positive cycle of economic revival, ASSOCHAM Secretary General Mr D S Rawat said.

He said in the earlier arrangement when the Budget was presented on the last working day of February, its full and final passage could take place in the middle of May with the result that by the time the money is available with the individual ministries and departments, half the financial year is completed.

n++This typically leads to back- loading, rather than front-loading of the government expenditure of the order of Rs 20 lakh crore, which itself is a strong trigger for boosting the economic activity. The bundling of expenditure in the last few months also affects the quality of government spending as the pressure to exhaust the allocated outlays in the set period leads to rush jobs, the chamber said.

It said with early beginning of the budget allocations, the quality of spending would certainly improve even as it leaves a positive multiplier effect on rest of the economy. This is particularly true in sectors like roads, highways, ports, irrigation projects and above all the railways.

The Indian Railway is implementing a big capex plan that can generate a significant multiplier impact on several sectors like steel, cement, manufacturing, wagon building etc. All efforts must be made to ensure that all the Parliamentary approvals are given to the Rail budget, which would now be part of the main Budget, well in time.

Same holds good for other vital infrastructure ministries like shipping, power, coal, road transport, petroleum etc.

The chamber said the Budget should be seen well beyond the partisan politics for the common national good.

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Modi Naturals inches up as board mulls issue of convertible warrants
Jan 16,2017

The announcement was made after market hours on Friday, 13 January 2017.

Meanwhile, the S&P BSE Sensex was up 31.92 points or 0.12% at 27,269.98.

On the BSE, 1,649 shares were traded on the counter so far as against the average daily volumes of 3,424 shares in the past one quarter. The stock had hit a high of Rs 174.20 and a low of Rs 162.60 so far during the day.

The stock had hit a record high of Rs 188.80 on 5 April 2016 and a 52-week low of Rs 60.50 on 20 January 2016. The stock had outperformed the market over the past one month till 13 January 2017, advancing 40.75% compared with the Sensexs 2.02% rise. The scrip had also outperformed the market over the past one quarter advancing 26.99% as against the Sensexs 1.47% fall.

The small-cap company has equity capital of Rs 11.12 crore. Face value per share is Rs 10.

Modi Naturals said that a meeting of the board of directors of the company is scheduled on 19 January 2017, inter alia, to consider and approve the allotment of convertible warrants on preferential basis. The proposal was approved by the shareholders through a special resolution at the extraordinary general meeting (EGM) of the company held on 9 January 2017 and in-principle approval accorded by the BSE vide its letter dated 11 January 2017.

Modi Naturals net profit fell 97.8% to Rs 0.02 crore on 16.3% rise in net sales to Rs 59.03 crore in Q2 September 2016 over Q2 September 2015.

Modi Naturals is engaged in natural oil processing. It has marked its entry in the fast-moving consumer goods industry.

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Outcome of board meeting of Ruby Traders & Exporters
Jan 16,2017

Ruby Traders & Exporters announced that the Board of Directors of the Company at its meeting held on 14 January 2017 has considered and approved the following -

Resignation of Nikit Devchand Rambhia, Whole Time Director of the Company with effect from 14 January 2017.

To change the name of the Company from Ruby Traders & Exporters to Panache Innovations.

Alteration in Clause IIIA (Object Clause) of the Company by inserting the sub-clause 2 under part A of clause III, after the existing sub-clause 1 and the remaining sub-clauses be re-numbered accordingly, pursuant to its product range expansion plans, subject to necessary approvals as may be required.

Alteration in Memorandum of Association of the Company as per the new format of Companies Act, 2013.

Appointment of Jayachandran Sundermoorthy as Additional Director with effect from 14 January 2017.

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Axis Bank gains after announcing reduction in MCLRs
Jan 16,2017

The announcement was made after market hours on Friday, 13 January 2017.

Meanwhile, the BSE Sensex was up 33.75 points, or 0.12%, to 27,271.81

On BSE, so far 1.61 lakh shares were traded in the counter, compared with average daily volume of 5.67 lakh shares in the past one quarter. The stock hit a high of Rs 478.60 and a low of Rs 468.40 so far during the day.

The stock hit a 52-week high of Rs 638 on 7 September 2016. The stock hit a 52-week low of Rs 366.65 on 18 January 2016. The stock had underperformed the market over the past 30 days till 13 January 2017, falling 0.87% compared with the 2.71% rise in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 9.16% as against Sensexs 1.57% decline.

The large-cap private sector bank has equity capital of Rs 478.30 crore. Face value per share is Rs 2.

Axis Bank announced that it has reduced its marginal cost of funds based lending rates (MCLR) by 65 to 70 basis points (bps) across various tenors with effect from 18 January 2017. The banks MCLR for overnight loans will be 7.9%, for one month will be 7.9% and for three months will be 8.05%. The MCLR on 6-month loans will be 8.15% and for one-year loans the rate would be 8.25%, the bank said. MCLR for two-year loans would be at 8.3% and loans with three-year maturity would carry an MCLR of 8.35%, the bank said.

Axis Banks net profit declined 83.34% to Rs 319.08 crore on 14.15% growth in total income to Rs 13698.77 crore in Q2 September 2016 over Q2 September 2015.

Axis Bank is one of the biggest private sector banks in India.

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Board of Aksh Optifibre approves scheme of amalgamation
Jan 16,2017

Aksh Optifibre announced that the Board of Directors of the Company at its meeting held on 14 January 2017 has approved the scheme of amalgamation between APAksh Broadband (Transferor Company) and Aksh Optifibre (Transferee Company) and their respective shareholders and creditors.

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SPML Infra gallops after multiple orders win
Jan 16,2017

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

Meanwhile, the S&P BSE Sensex was up 35.45 points or 0.13% at 27,273.51

On BSE, so far 3.75 lakh shares were traded in the counter as against average daily volume of 2,721 shares in the past one quarter. The stock hit a high of Rs 66.95 and a low of Rs 55.85 so far during the day.

The stock had hit a 52-week low of Rs 48.70 on 22 November 2016. The stock had hit a 52-week high of Rs 108.80 on 13 July 2016. The stock had outperformed the market over the past 30 days till 13 January 2017, rising 4.1% compared with the 2.71% rise in the Sensex. The scrip, however, underperformed the market in past one quarter, sliding 14.81% as against Sensexs 1.57% decline.

The small-cap company has equity capital of Rs 7.33 crore. Face value per share is Rs 2.

SPML Infra said it has received several new orders for power substation, rooftop solar power plant, water and wastewater treatment, and municipal solid waste management projects from different states in India.

SPML Infras net profit fell 84.21% to Rs 0.48 crore on 7.78% rise in net sales to Rs 302.84 crore in Q2 September 2016 over Q2 September 2015.

SPML Infra is one of the leading infrastructure development companies in India.

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