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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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UIDAIS Challenge drive for Enrolment In 22 States/UTS
Oct 14,2016

The Unique Identification Authority of India (UIDAI) has launched Challenge drive to enroll leftover population for Aadhaar, in 22 States/UTs where Aadhaar saturation of adult population has crossed 100 per cent (as per projected population figure of 2015). These 22 States/UTs are Delhi, Rajasthan, Uttarakhand, Madhya Pradesh, Lakshadweep, Puducherry, Kerala, Punjab, Haryana, Himachal Pradesh, Chandigarh, Andhra Pradesh, Telangana, Chhattisgarh, Andaman & Nicobar Island, Dadar and Nagar Haveli, Goa, Maharashtra, Jharkhand, Sikkim, Tripura and Uttar Pradesh.

As on today, over 106.69 crore Aadhaar numbers have been generated across the country.

The Challenge drive enrolment scheme will be only for adult population. As part of the Challenge drive, the residents of these States/UTs who have not yet enrolled for Aadhaar are being asked to register themselves at https://www.wenrol.uidai.gov.in. On completing the simple registration formality, such people would be enrolled for the Aadhaar number on a priority basis.

n++The Challenge drive will ensure that nobody is left without an Aadhaar in these States/UTs which statistically have 100% Aadhaar saturation. The drive will start from 15th October to 15th November 2016. This is in furtherance of our enrolment exercise to achieve universal coverage for Aadhaar across the country. All the eight Regional Offices of UIDAI have been directed to take up necessary media campaign in prominent local media and coordinate with respective State/UTs/NSRs/EAs for facilitating the enrolment of the resident registered under the Challenge drive and enroll infirm and elderly residents at homen++ said Dr. Ajay Bhushan Pandey, CEO, UIDAI.

In this drive, the enrolment request of only persons over the age of 18 years will be accepted on the portal mentioned above. Providing a mobile number as well as other demographic details is also mandatory as a mobile OTP based verification will be conducted once the person submits the enrolment request. The person will be then contacted and enrolled on a priority basis through special camps or at the enrolment stations located near him/her.

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Edelweiss declines after shareholders rejig via bulk deal
Oct 14,2016

Meanwhile, the S&P BSE Sensex was up 34.24 points or 0.12% at 27,677.35.

On BSE, so far 1 lakh shares were traded in the counter as against average daily volume of 5.27 lakh shares in the past one quarter. The stock hit a high of Rs 119.60 and a low of Rs 114.80 so far during the day. The stock had hit a 52-week high of Rs 126 on 3 October 2016. The stock had hit a 52-week low of Rs 44.40 on 12 February 2016. The stock had outperformed the market over the past one month till 13 October 2016, surging 18.5% compared with 2.51% fall in the Sensex. The scrip had also outperformed the market in past one quarter, advancing 47.4% as against Sensexs 0.62% fall.

The mid-cap company has equity capital of Rs 82.84 crore. Face value per share is Rs 1.

Privatbank IHAG Zurich AG held 3.88% and BIH SA 1.71% stake in Edelweiss Financial Services as per the shareholding pattern as on 30 June 2016.

On a consolidated basis, Edelweiss Financial Services net profit rose 53% to Rs 139.68 crore on 27% growth in total income to Rs 1472.18 crore in Q1 June 2016 over Q1 June 2015.

Edelweiss Financial Services offers a range of products and services spanning retail finance, debt capital markets, commodities, financial markets, asset management and life insurance.

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Vardhman Special Steels spurts on plans of rights issue
Oct 14,2016

The announcement was made during market hours today, 14 October 2016.

Meanwhile, the S&P BSE Sensex was up 27.05 points or 0.1% at 27,671.53.

On BSE, so far 2,531 shares were traded in the counter as against average daily volume of 3,054 shares in the past one quarter. The stock hit a high of Rs 88.35 and a low of Rs 79.50 so far during the day.

The small-cap company has equity capital of Rs 18.56 crore. Face value per share is Rs 10.

Vardhman Special Steels said that the board of directors will also consider companys Q2 results on that day.

Vardhman Special Steels is a producer of special and alloy steels, catering to diverse requirements of hot rolled bars for engineering, automotive, tractor, bearing and allied industries.

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HUL extends slide after Unilevers Q3 results disappoint investors
Oct 14,2016

Meanwhile, the S&P BSE Sensex was up 35.10 points or 0.13% at 27,685.16.

On BSE, so far 1.36 lakh shares were traded in the counter as against average daily volume of 1.25 lakh shares in the past one quarter. The stock hit a high of Rs 857.50 and a low of Rs 838.45 so far during the day. The stock had hit a 52-week high of Rs 954 on 9 September 2016. The stock had hit a 52-week low of Rs 765.35 on 27 January 2016. The stock had underperformed the market over the past one month till 13 October 2016, falling 6.14% compared with 2.51% fall in the Sensex. The scrip had also underperformed the market in past one quarter, dropping 6.85% as against Sensexs 0.62% drop.

The large-cap company has equity capital of Rs 216.43 crore. Face value per share is Rs 1.

Shares of Hindustan Unilever (HUL) had settled 1.61% lower at Rs 861.95 yesterday, 13 October 2016 after Unilever yesterday, 13 October 2016 posted an underlying sales growth of 3.2% in Q3 September 2016 over Q3 September 2015. Volumes declined 0.4% during this period. Sales increased by 3.4% at constant exchange rates while turnover, which is at current rates, declined 0.1% in Q3 September 2016 over Q3 September 2015. Consumer demand remained weak and in the markets in which Unilever operates volumes have slowed further and are flat in aggregate, the company said. This is particularly the case in Latin America where currency devaluation has pushed up the cost of living of its consumers, squeezing disposable incomes, it added.

Unilever holds 58.32% stake in Hindustan Unilever (HUL) as per the shareholding pattern as on 30 September 2016.

HULs net profit rose 9.8% to Rs 1173.90 crore on 3.6% growth in net sales to Rs 7987.74 crore in Q1 June 2016 over Q1 June 2015.

HUL is a leading fast moving consumer goods (FMCG) company.

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Large order boosts L&T
Oct 14,2016

The announcement was made during market hours today, 14 October 2016.

Meanwhile, the S&P BSE Sensex was up 38.81 points or 0.14% at 27,681.92.

On BSE, so far 1.13 lakh shares were traded in the counter as against average daily volume of 1.56 lakh shares in the past one quarter. The stock hit a high of Rs 1,473.60 and a low of Rs 1,438.20 so far during the day. The stock had hit a 52-week high of Rs 1,615 on 27 July 2016. The stock had hit a 52-week low of Rs 1,016.60 on 12 February 2016. The stock had outperformed the market over the past one month till 13 October 2016, sliding 1.85% compared with 2.51% fall in the Sensex. The scrip had, however, underperformed the market in past one quarter, declining 7.28% as against Sensexs 0.62% fall.

The large-cap company has equity capital of Rs 186.47 crore. Face value per share is Rs 2.

The latest order has been secured by a consortium of L&T and Sojitz Corp, Japan.

L&Ts consolidated net profit rose 45.5% to Rs 609.60 crore on 9.3% growth in net sales to Rs 21718.61 crore in Q1 June 2016 over Q1 June 2015.

L&T is a major Indian multinational engaged in technology, engineering, construction, manufacturing and financial services. It operates in more than 30 countries worldwide.

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Import of Vegetable Oil Up by 5% during November 2015 to September 2016
Oct 14,2016

The Solvent Extractors Association of India has compiled the Import data of Vegetable Oils (edible & non-edible) for the month of September 2016. Import of vegetable oils during September 2016, is reported at 1,399,993 tons compared to 1,216,546 tons in September 2015, consisting of 1,376,650 tons of edible oils and 23,343 tons of non-edible oils i.e. up by 15%. The overall import of vegetable oils during first eleven months of the current oil year 2015-16, November 2015 - September 2016 is reported at 13,565,548 tons compared to 12,941,611 tons i.e. up by 5%.

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RCom gains after inking pact with Brookfield for sale of telecom tower business
Oct 14,2016

The announcement was made during market hours today, 14 October 2016.

Meanwhile, the BSE Sensex was up 38.68 points, or 0.14%, to 27,681.79.

On BSE, so far 18.77 lakh shares were traded in the counter, compared with an average volume of 27.14 lakh shares in the past one quarter. The stock hit a high of Rs 48.40 and a low of Rs 46.20 so far during the day. The stock hit a 52-week high of Rs 91.80 on 1 January 2016. The stock hit a record low of Rs 42.10 on 29 September 2016. The stock had underperformed the market over the past one month till 13 October 2016, falling 6.04% compared with 2.51% fall in the Sensex. The scrip had also underperformed the market in past one quarter, dropping 8.16% as against Sensexs 0.62% drop.

The large-cap company has equity capital of Rs 1244.49 crore. Face value per share is Rs 5.

Reliance Communications (RCom) announced the signing of a non-binding term sheet with Brookfield Infrastructure Group (Brookfield) in relation to the proposed acquisition of RComs nationwide tower assets and related infrastructure by Brookfield.

RCom said that under the term sheet, the specified assets are intended to be transferred from Reliance Infratel (RITL) on a going concern basis into a separate special purpose vehicle (SPV), to be owned by Brookfield. RCom will continue as an anchor tenant on the tower assets, under a long term MSA, for its integrated telecommunications business.

RCom will receive an upfront cash payment of Rs 11000 crore from the proposed transaction. RCom will also enjoy 49% future economic upside from the towers business, based on certain conditions. RCom and Brookfield expect considerable growth in tenancies based on increasing 4G offerings by all telecom operators, and the fast accelerating trends in data consumption, which are expected to contribute to significant growth in revenues and profitability for the towers business in the future.

RCom and Brookfield also see several opportunities for consolidation in the towers industry in India that will further enhance growth and value creation in the future. RCom intends to utilize the proceeds of the proposed transaction solely to reduce its debt. The proposed Transaction is subject to definitive documentation, customary approvals and certain other terms and conditions. Accordingly, there can be no certainty that a transaction will result. Further announcements will be made at an appropriate stage, RCom added.

RComs consolidated net profit rose 5.9% to Rs 54 crore on 3.8% decline in net sales to Rs 5247 crore in Q1 June 2016 over Q1 June 2015.

RCom is an integrated telecommunications service provider.

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Tata Motors moves higher as foreign brokerage retains overweight rating
Oct 14,2016

Meanwhile, the S&P BSE Sensex was up 38.84 points or 0.14% at 27,681.95.

On BSE, so far 2.25 lakh shares were traded in the counter as against average daily volume of 8.32 lakh shares in the past one quarter. The stock hit a high of Rs 553.35 and a low of Rs 546.10 so far during the day. The stock had hit a 52-week high of Rs 598.60 on 7 September 2016. The stock had hit a 52-week low of Rs 266 on 11 February 2016. The stock had outperformed the market over the past one month till 13 October 2016, sliding 1.78% compared with 2.51% fall in the Sensex. The scrip had also outperformed the market in past one quarter, advancing 13.41% as against Sensexs 0.62% fall.

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

The brokerage reportedly said that Jaguar Land Lover (JLR) numbers are expected to be driven by high average selling price. Volume growth will moderate buy scale will gain, it said. JLR is likely to post 22% earnings per share (EPS) compound annual growth rate (CAGR) between FY 2016-18, it added.

Tata Motors consolidated net profit declined 57% to Rs 2260.40 crore on 10.1% rise in net sales to Rs 64940.12 crore in Q1 June 2016 over Q1 June 2015.

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

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Moodys: Spectrum wins stretch India telco operators balance sheets further, a credit negative
Oct 14,2016

Moodys Investors Service says that the resulting high costs for spectrum -- following an auction on October 7 -- is credit negative for Indias telecom operators, as the debt levels of their already stretched balance sheets will rise further.

At the same time, competition is intensifying, following the September launch of mobile services by new operator Reliance Jio Infocomm (unrated), a subsidiary of Reliance Industries (RIL, LC: Baa2 positive; FC: Baa2 stable), says Annalisa Di Chiara, a Moodys Vice President and Senior Credit Officer. The higher debt levels following the auction and lower profitability from pricing pressure will likely raise industry-wide leverage.

Bids for the four largest telecom operators aggregated 1157 MHz of spectrum, 31% of the spectrum available for sale across all bands. Not unexpectedly, the 700MHz band -- the most expensive category of airwaves -- went entirely unsold.

In our view, these spectrum wins will weigh on balance sheets and cash flows, as debt levels will rise materially for most operators, including incumbent Bharti Airtel Ltd. (Baa3 stable) and larger international groups, such as Vodafone Group Plc (Baa1 stable), says Di Chiara. The operators will experience a reduction in their ability to fund further expansion or to absorb the effects of weaker profitability as competition intensifies.

The auction did not attract any bids for the highly expensive 700 MHz band, implying that Reliance Jio Infocomm Limited (unrated) and Reliance Communications Limited (Ba3, review for downgrade) -- which have a spectrum-and-infrastructure sharing agreement -- will remain the only players with access to pan-India spectrum in the sub 1 Ghz band. The latter is considered the best suited for 4G services in urban centers, given its better in-door coverage.

More intense competition, in part spurred by Jios launch, is likely to drive tariffs lower, causing average revenues per user (ARPU) to contract and industry revenue and profitability to fall over the next 12-18 months, meaning that leverage levels could rise. Growing demand for 3G/4G data services will continue to drive each companys spectrum cost recoveries.

The operators will likely opt to defer their spectrum payments, mitigating the effect on cash flows. This option requires them to make upfront payments of 25% or 50%, depending on the spectrum band, within 10 days of the auctions close, with the balance payable in 10 annual installments after a moratorium of two years.

Longer term, the spectrum which the operators secure will help them maintain their competitive positions, support their strategies on data growth and enhance cash flow generation. Their high debt burdens may also pave the way for recapitalization events and further industry consolidation, which will in turn ultimately benefit those incumbents well positioned in 4G.

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High Ground Enterprise fixes record date for bonus issue
Oct 14,2016

High Ground Enterprise has fixed 25 October 2016 as the Record Date for the purpose of Issue of Bonus Shares in the proportion of 1 (one) Bonus Shares for every 10 (ten) existing fully paid up Equity shares held by the shareholder as on the Record Date.

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Hindustan Construction Company - VCCL JV wins Rs 367.72 crore contract
Oct 14,2016

Hindustan Construction Company in joint venture with VCCL has been awarded 367.72 crore contract by the Northeast Frontier Railway to construct a safety tunnel between Tupul and Imphal in Manipur state. This is part of the new Railway line project being constructed between Jiribam and Imphal of Northeast Frontier Railway. The project is to be completed in 4 years.

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Elecon Engineering Company gets High Court approval for scheme of amalgamation
Oct 14,2016

Elecon Engineering Company announced that Honble High Court of Gujarat vide its Oral Order dated 07 October 2016 approved the Scheme of Amalgamation of Elecon EPC Projects with Elecon Engineering Company.

The Company is awaiting the certified copy of the Order of the Honble High Court for further actions.

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Volumes jump at GOCL Corporation counter
Oct 14,2016

GOCL Corporation clocked volume of 2.47 lakh shares by 13:13 IST on BSE, a 47.03-times surge over two-week average daily volume of 5,000 shares. The stock fell 0.83% at Rs 312.

Tech Mahindra notched up volume of 34.22 lakh shares, a 16.39-fold surge over two-week average daily volume of 2.09 lakh shares. The stock lost 0.04% at Rs 420.75.

Ramco Industries saw volume of 5.62 lakh shares, a 10.14-fold surge over two-week average daily volume of 55,000 shares. The stock was locked at 20% upper circuit at Rs 216.90.

Infosys clocked volume of 12.08 lakh shares, a 6.26-fold surge over two-week average daily volume of 1.93 lakh shares. The stock lost 1.38% at Rs 1,037.50 after the company trimmed revenue growth guidance for the current financial year at the time of announcing Q2 September 2016 results today, 14 October 2016. In constant currency terms, the company now expects revenue to grow by 8% to 9% for the year ending 31 March 2017 (FY 2017). The company had forecast 10.5%-12% growth in revenue for FY 2017 in constant currency terms at the time of announcing Q1 June 2016 results on 15 July 2016. The company had at the beginning of FY 2017 estimated its revenue growth at 11.5-13.5%.

Infosys consolidated net profit rose 4.9% to Rs 3606 crore on 3.1% growth in revenue to Rs 17310 crore in Q2 September 2016 over Q1 June 2016. The results are as per International Financial Reporting Standards (IFRS). The result was announced during market hours today, 14 October 2016.

Ramco Cements saw volume of 88,000 shares, a 5.68-fold rise over two-week average daily volume of 15,000 shares. The stock surged 6.27% at Rs 669.05.

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DLF allots equity shares
Oct 14,2016

DLF announced that the Committee of Directors has allotted Equity Shares as detailed below upon exercise of Options by the employees under the Companys Employee Stock Option Scheme:

Date of Allotment : 13 October 2016

No. of Equity Shares : 26,662

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Hindustan Construction gains after its JV wins contract
Oct 14,2016

The announcement was made during market hours today, 14 October 2016.

Meanwhile, the S&P BSE Sensex was up 20.82 points or 0.11% at 27,672.73.

On BSE, so far 5.22 lakh shares were traded in the counter as against average daily volume of 24.79 lakh shares in the past one quarter. The stock hit a high of Rs 34.90 and a low of Rs 33.80 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 13 October 2016, falling 11.29% compared with 2.51% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 40.54% as against Sensexs 0.62% drop.

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

Hindustan Construction Company (HCC) said that the contract is for construction of a safety tunnel between Tupul and Imphal in Manipur state. This is part of the new railway line project being constructed between Jinbam and Imphal of Northeast Frontier Railway. The project is to be completed in 4 years.

Net profit of Hindustan Construction Company (HCC) rose 17.5% to Rs 10.88 crore on 1.7% rise in net sales to Rs 899.32 crore in Q1 June 2016 over Q1 June 2015.

HCC is into infrastructure development in transportation, power and water segments. HCC is developing a planned hill city named Lavasa near Pune in Maharashtra.

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