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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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J L Morison (India) announces resignation of director
Jan 12,2017

J L Morison (India) announced that Sandip Das, Executive Director & CEO of the Company has tendered his resignation from the Company due to personal reason w.e.f. closing working hours of 31 January 2017.

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Zensar Technologies partner with 2 Sisters Food Group
Jan 12,2017

Zensar Technologies has won a three year Robotic Process Automation (RPA) led project with the Shared Services Centre of 2 Sisters Food Group. As part of this project, Zensar will help streamline the financial framework and operations by implementing RPA solutions. 2 Sisters, a leading food manufacturing business in Europe, will be able to leverage the benefits of Zensars Return on Digital strategy, aimed at helping the customer meet their business objectives more accurately and efficiently.

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Bharti Airtel commences national operations & services of Airtel Payments Bank
Jan 12,2017

Bharti Airtel announced the commencement of national operations with services of Airtel Payments Bank.

Arun Jaitley, Honble Union Minster of Finance and Corporate Affairs formally launched Airtel Payments Banks national operations on 12 January 2017.

Airtel Payments Bank, a fully digital and paperless bank, aims to take basic banking services to the doorstep of every Indian by leveraging Airtels vast retail network. Over 250,000 neighbourhood Airtel retail stores across the country will also function as banking points,and customers will be able to open savings accounts, deposit and withdraw cash across any of these banking points.

Airtel Payments Bank will not charge any processing fee from its customers and merchants partners for digital transactions, thereby encouraging them to adopt cashless payments.

Airtel Payments Bank also rolled out its app for Android and iOS. The app can be accessed through MyAirtel app. Customers simply need to install MyAirtel app on their smartphone for a seamless access to Airtel Payments Bank services. In addition, customers would also get access to aMasterCard powered online card, which can be used to make payments across all online merchants accepting MasterCard.

Airtel Payments Bank will develop a nationwide merchant ecosystem of over five million partners including small kirana stores, grocers, pharmacies, restaurants, etc. These merchant partners willaccept digital payments from Airtel Payments Bank customers over mobile phones. Airtel Payments Bank has launched a Merchant App for digital onboarding of partners. Anyone looking to become a merchant partner can download this app from Google Playstore for free and startaccepting digital payments instantaneously.

Airtel will leverage its vast base of over 260 million customers and educate them on the benefits of digital payments, with special emphasis on customers with basic/feature mobile phones to make them use their phones to make USSD based payments.

Airtel Payments Bank commits an initial investment of Rs 3000 crore to develop a pan India banking network and digital payments ecosystem

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Board of Kushal Tradelink to consider bonus issue
Jan 12,2017

Kushal Tradelink announced that the meeting of the board of directors of the Company is scheduled to be held on 20 January 2017, inter alia, to consider the following:

1. To consider and approve the Increase in Authorised Share Capital of the Company.

2. To consider and Declare Bonus on Equity Shares.

3. To consider and propose to Amalgamate/Merge, Riddhi Siddhi Recyclers in Kushal Tradelink.

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Tata Consultancy Services fixes record date for 3rd interim dividend
Jan 12,2017

Tata Consultancy Services has fixed 24 January 2017 as the Record Date for the purpose of Payment of Third Interim Dividend.

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Since 2014, a total amount of 409.06 lakh has been sanctioned for implementing the schemes on coconut in Bihar by the Coconut Development Board: Shri
Jan 12,2017

Shri Radha Mohan Singh said that Central Government is bound to promote the coconut cultivation and related activities in Bihar. Shri Singh told that since 2014 a total amount of Rs 409.06 lakhs has been sanctioned for implementing the schemes on Coconut cultivation in Bihar. Union Agriculture Minister said this on the occasion of Foundation Stone laying ceremony of Farmers Training Centre and Regional Office building at Patna on the 37th Foundation day of Coconut Development Board. Coconut Development Board was established on 12 January 1981.

Union Agriculture Minister told that Regional Office of the Coconut Development Board was shifted to Guwahati, Assam from Patna, Bihar on the basis of recommendations of a committee constituted under the chairmanship of ICAR in 2009. A central team was constituted by the Central Government focussing on the productivity of coconut in Bihar. This team has recommended to open a new and fourth Regional Office of the Board at Patna in place of State Centre Patna which was agreed upon by the Coconut Development Board in its 119th Board meeting held on 30 January 2015.

Shri Radha Mohan Singh also said that India is the global leader in production and productivity of coconut. Coconut is cultivated in 16 states and three union territories in an extent of 2.14 million ha. The crop sustains more than one crore farmer families of the country through cultivation, processing, marketing and trade related activities. In Bihar, Coconut is grown in 14,900 hectares producing 141.38 million nuts.

Shri Singh said that Kosi region in North Bihar which comprises places on either sides of the Kosi river is suitable for coconut cultivation. It is estimated that nearly 50,000 hectares of potential area in Bihar is available for coconut cultivation, mainly in North Bihar under irrigated condition. Union Agriculture Minister said that CDB aims to equip the coconut farmers in production, processing, marketing and export of coconut and its value added products thus making India the world leader in production, productivity, processing for value addition and export of coconut. Bihar belongs to nontraditional coconut cultivated area and special focus is being given for development of coconut sector in the state.

Shri Radha Mohan Singh further said that Establishment of a Farmers Training Centre, attached to the Regional Office, Patna has also been initiated. The Farmers Training Centre is expected to impart skills to farmers. The centre will strengthen coconut cultivation and industry in the state.

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Tata Consultancy Services to pay 3rd interim dividend
Jan 12,2017

Tata Consultancy Services announced that Third Interim Dividend of Rs 6.50 per share will be paid to the equity shareholders of the Company on 01 February 2017.

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Board of Tata Consultancy Services declares 3rd interim dividend
Jan 12,2017

Tata Consultancy Services announced that at the Board Meeting held on 12 January 2017, Directors have declared a Third Interim Dividend of Rs. 6.50 per Equity Share of Re. 1 each of the Company.

The Third Interim Dividend will be paid to the equity shareholders of the Company on 01 February 2017.

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Himadri Speciality Chemical announces resignation of director
Jan 12,2017

Himadri Speciality Chemical announced Pavninder Singh has resigned from the Board of Directors of the Company as Nominee of BC India Investments with effect from 11 January 2017.

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Himadri Speciality Chemical announces resignation of director
Jan 12,2017

Himadri Speciality Chemical announced Pavninder Singh has resigned from the Board of Directors of the Company as Nominee of BC India Investments with effect from 11 January 2017.

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Dr Lal Pathlabs allots 2.85 lakh equity shares
Jan 12,2017

Dr Lal Pathlabs announced that the Board of Directors of the Company on 11 January 2017 approved allotment of 2,85,000 equity shares under the ESOP 2010 Plan of the Company.

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Techno Electric & Engineering Company sells 33 MW wind power assets
Jan 12,2017

Techno Electric & Engineering Company announced that the Company has sold 33 MW Wind Power Assets situated in the State of Tamil Nadu at an effective valuation of Rs. 165.19 crore. Post this transaction, the Company continues to hold 12 MW of wind power assets.

Techno Electric along with its subsidiary, Simran Wind Project will have a portfolio of 129.9 MW of wind power asset post above transaction.

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Pooja Entertainment & Films announces release of new Punjabi film
Jan 12,2017

Pooja Entertainment & Films announced that the Company will release Sarvaan a Punjabi film directed by Karaan Guliani, written by Amberdeep Singh, Staring Amrinder Gill, Simi Chahal & Ranjit Bawa.

The film would be released in approximately 225 screens around India and 102 screens overseas and would be released on 13 January 2017.

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Trident receives IPMA Energy Conservation Award 2015-16
Jan 12,2017

Trident has been awarded with the prestigious - IIPM Energy Conservation Award 2015-16 for Paper Division Barnala by the India Paper Manufacturers Association.

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Asia Pacific Market: Stocks falter on Trump
Jan 12,2017

Asia Pacific share market ended softer on Thursday, 12 January 2017, following losses in the U.S. as investors reacted to President-elect Donald Trumps first news conference since July and awaited remarks from Fed Chair Janet Yellen in a roundtable format in the U.S. on Thursday evening.

On Wednesday at the press conference, Trump took shots at the pharmaceutical industry and failed to provide new details on three of his key policies: tax reform, deregulation of certain sectors and fiscal stimulus.

Trump held his first press conference since winning the presidency yesterday, 11 January 2017, touching on many of the issues that will dominate the opening weeks of his presidency. Looming over the proceedings was a newly-published, and entirely unverified, dossier claiming the Russian government had collected compromising information on him.

The President-elect said Obamacare would be repealed and replaced on the same day and a Supreme Court justice would be chosen within two weeks of his inauguration. He also reaffirmed commitments to build a wall on the border with Mexico and said he would bring in a border tax for companies that chose to move operations offshore.

Investors were hoping for commentary on the new administrations plans for fiscal stimulus and tax cuts. Instead, Trump remarked on a broad range of topics such as the Mexican wall, allegations of Russian hacking and his business interests but left out what investors wanted to hear about - fiscal spending. US President-elect Donald Trump on Wednesday lashed out at drugmakers for getting away with murder in offshoring production and overcharging for medicines.

Ahead, Yellen hosts a town hall meeting with educators in Washington, D.C., that will be eyed for any possible remarks on a Fed forecast of as many as three interest rate hikes in 2017.

Among Asian bourses

Australia Market edges down

Australian share market revered course to finish marginally lower, dragged down by selloff in healthcare stocks on following U.S. peers lower after U.S. President-elect Donald Trumps comments on the sector, offsetting gains in materials and energy shares. The S&P/ASX 200 index fell 0.1%, or 4.58 points, to 5,766.9 at the close of trade.

Shares of healthcare sector were hard hit, taking their cue from U.S. peers after Trump said pharmaceutical companies were getting away with murder by charging high prices. Worst hit were sector giant blood products and flu vaccine company CSL, which lost 2.8%, and Mayne Pharma, down 4%, as both companies have significant U.S. exposure.

Basic materials and energy shares closed higher thanks to a weaker dollar after Trumps conference, which failed to offer details on his promises to boost fiscal spending and cut taxes. Mining giants Rio Tinto, BHP Billiton, and Fortescue Metals gained between 1% and 1.3%, while oil and gas explorers Woodside Petroleum and Santos each added around 1%.

Nikki falls on disappointment over Trump remarks

The Japan share market closed down, dragged down by yen strength against greenback and investor disappointment over U.S. President-elect Donald Trumps failure to clarify his economic policy measures. Investors were disappointed by President-elect Donald Trumps first news conference since the election, as he was light on details about the U.S. economic outlook while stoking uncertainty about the U.S. relationship with countries like Japan. The Nikkei Stock Average fell 229.97 points, or 1.2%, to 19,134.70 following a 63.23-point rise Wednesday. The Topix index of all Tokyo Stock Exchange First Section issues fell 14.99 points, or 0.97%, to 1535.41.

Shares of exporters were hardest hit after the yen strengthened 0.9% against the greenback amid lack of U.S. policy clarity under Mr. Trumps administration. Some investors think there could be risk of protectionism grows under a Trump administration after Mr. Trump reiterated his desire to build a wall on the U.S.-Mexico border. A stronger yen hurts Japanese exporters as it makes their products more expensive abroad and reduces the value of repatriated profits. Toyota Motor ended down 1%, Nissan Motor was 1.06% lower and Mazda lost 1.5%.

Toshiba dived 5.4% after reports that the troubled conglomerate could be hit by bigger-than-expected losses at its US nuclear unit. Toshiba is finalising the size of special losses at Westinghouse, which could reach tens of billions of yen, on top of a previously warned one-time shortfall of several billion dollars.

Drug makers Takeda, Astellas Pharma and Shionogi were also downbeat as their U.S. peers met with selling due to Trumps criticism against the pharmaceutical industry at Wednesdays news conference.

Cosmo Energy Holdings finished up 7.52% after a Japanese securities firm revised up its investment rating and target stock price on the oil company.