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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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Siti Networks gallops after large bulk deal
Jun 09,2017

Meanwhile, the S&P BSE Sensex was down 57 points or 0.18% at 31,156.36. The BSE Small-Cap index was up 60.47 points or 0.39% at 15,533.02.

Bulk deal boosted volume on the scrip. On the BSE, 1.77 crore shares were traded on the counter so far as against average daily volumes of 8.59 lakh shares in the past one quarter. The stock had hit a high of Rs 32 and a low of Rs 28.50 so far during the day. The stock had hit a 52-week high of Rs 41.35 on 20 December 2016. The stock had hit a 52-week low of Rs 26.15 on 6 June 2017.

The stock had underperformed the market over the past one month till 8 June 2017, falling 10.87% compared with 3.19% rise in the Sensex. The scrip had also underperformed the market in past one quarter, declining 25.23% as against Sensexs 7.83% rise. The scrip had also underperformed the market in past one year, sliding 24.93% as against Sensexs 16.63% rise.

The small-cap company has equity capital of Rs 87.21 crore. Face value per share is Re 1.

On a consolidated basis, Siti Networks reported net loss of Rs 64.92 crore in Q4 March 2017, higher than net loss of Rs 1.47 crore in Q4 March 2016. Net sales fell 3.95% to Rs 325.52 crore in Q4 March 2017 over Q4 March 2016.

Siti Networks is one of Indias largest multi system operator (MSO). The company provides its cable services in Indias 250 plus cities and the adjoining areas.

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Adani Transmission gains on bargain hunting
Jun 09,2017

Meanwhile, the S&P BSE Sensex was down 44.24 points, or 0.14% to 31,169.12.

On the BSE, 3.99 lakh shares were traded in the counter so far, compared with average daily volumes of 3.92 lakh shares in the past one quarter. The stock had hit a high of Rs 118.05 and a low of Rs 108.40 so far during the day. The stock hit a record high of Rs 137 on 5 June 2017. The stock hit a 52-week low of Rs 30.30 on 9 June 2016.

The stock had outperformed the market over the past one month till 8 June 2017, rising 49.70% compared with 3.19% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 83.19% as against Sensexs 7.83% rise. The scrip had also outperformed the market in past one year, rising 240.87% as against Sensexs 16.63% rise.

The large-cap company has equity capital of Rs 1,099.81 crore. Face value per share is Rs 10.

Shares of Adani Transmission fell 14.24% in four trading sessions to settle at Rs 113.85 yesterday, 8 June 2017, from its close of Rs 132.75 on 2 June 2017.

On a consolidated basis, net profit of Adani Transmission declined 5.18% to Rs 94.90 crore on 30.93% rise in net sales to Rs 835.52 crore in Q4 March 2017 over Q4 March 2016.

Adani Transmission is into power transmission business and is a part of business conglomerate Adani Group.

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Indiabulls Real Estate allots NCDs aggregating Rs 75 crore
Jun 09,2017

Indiabulls Real Estate has allotted secured redeemable NCDs of Rs 10 lakh each aggregating Rs 75 crore on private placement basis on 08 June 2017.

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Board of Vikas Wsp approved preferential allotment of shares
Jun 09,2017

Vikas Wsp has considered and approved the allotment of of 5,70,00,000 of Rs. 1 each at premium of Rs. 9/- per equity shares (i.e. Rs. 10 including premium) aggregate amounting to Rs. 57 crore on preferential basis to the Promoter and qualified investor at board meeting held on 08 June 2017.

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Minor gains at Wall Street
Jun 09,2017

U.S. stocks notched meager gains on Thursday, 08 June 2017 but the Nasdaq closed at a record after former FBI Director James Comeys appearance in front of the U.S. Senate Intelligence Committee concluded without any significant revelations.

The Dow Jones Industrial Average rose 8.84 points to finish, less than 0.1%, at 21,182.53. It hit an intraday record of 21,265.69 on strong gains in Caterpillar and Goldman Sachs. The Nasdaq Composite Index gained 24.38 points, or 0.4%, to end at 6,321.76 after setting an intraday record of 6,324.06. The S&P 500 index added 0.65 point to close at 2,433.79.

Financials rallied while utilities were the biggest decliners.

Investors had a slew of headlines to digest on Thursday as former FBI Director James Comey testified in front of the Senate Intelligence Committee, the European Central Bank announced its latest policy decision, and the Brits headed to the ballot box.

The ICE U.S. Dollar Index which tracks the buck against a basket of six rivals, was up 0.2%. Strength in the dollar can make gold and other commodities pegged to the currency more expensive to buyers using other monetary units, presumably lowering their demand.

In Europe, the ECB decided to leave interest rates unchanged, as expected, however, the central bank did drop language from its policy statement that suggested rates could be cut further. In addition, ECB President Mario Draghi acknowledged that risks to the outlook are now broadly balanced, but noted that inflation remains low and has yet to show a convincing pickup.

Economic data at Wall Street showed that the latest weekly initial jobless claims count totaled 245,000 while the consensus expected a reading of 240,000. Todays tally was below the revised prior week count of 255,000 (from 248,000). As for continuing claims, they declined to 1.917 million from the revised count of 1.919 million (from 1.915 million).The key takeaway from the report is that the level of initial claims remains consistent with a tight labor market.

Bullion prices ended sharply lower on Thursday, 08 June 2017. Gold prices suffered a sharp decline on Thursday, erasing a gain for the week as the euro weakened, providing support for the dollar, in the wake of the European Central Banks monetary-policy meeting.The yellow metal failed to find support from former Federal Bureau of Investigation boss James Comeys testimony before a Senate panel amid an investigation into alleged Russian efforts to interfere in last years presidential race. Investors were also awaiting the outcome of the U.K.s snap general election.

August gold fell $13.70, or 1.1%, to settle at $1,279.50 an ouncen++the lowest finish in a week. Thursdays loss erased what would have been a gain for the week. Prices have now lost 70 cents week to date. Meanwhile, July silver fell 20.6 cents, or 1.2%, at $17.414 an ounce in Thursday trading.

Oil prices ended with a minor loss on Thursday, 08 June 2017 holding ground at their lowest level in a month, as a weekly decline in U.S. crude production helped to temper pressure from a surprise weekly rise in U.S. supplies.

U.S. government data released Wednesday revealed a weekly decline for U.S. production in the lower 48 states for the first time this year, suggesting a slowdown in domestic output. But an unexpected rise in U.S. crude stocks last week intensified concerns that the continuing production cuts by the Organization of the Petroleum Exporting Countries and Russia arent effectively reducing the glut of oil that has suppressed oil prices for over two years.

Economic data will be light once again tomorrow with April Wholesale Inventories (consensus -0.1%) being the only item on the docket. The report will cross the wires at 10:00 ET.

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Board of State Bank of India approves issue of 52,21,93,211 equity shares under QIP issue
Jun 09,2017

State Bank of India announced that the Committee of Directors for Capital Raising of the Central Board of the Bank at its meeting held on 08 June 2017 has decided to close the QIP issue on 08 June 2017 and has accorded its consent for the issue of up to 52,21,93,211 equity shares at a price of Rs 287.25 (including Rs 286.25 towards share premium) for an aggregate value of Rs 14999.99 crore. The Committee also approved and adopted the placement document dated 08 June 2017 in connection with the issue.

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Cipla provides update on subsidiary - Saba Investments
Jun 09,2017

Cipla announced that its subsidiary, Saba Investments has entered into agreement to sell its 99% equity stake in Al Jabal for Drugs and Medical Appliances Company, Yamen to Khalil Ghaleb Ali Al Jabal.

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IndusInd Bank allots 4,593 equity shares
Jun 09,2017

IndusInd Bank has allotted 4,593 (Four Thousand Five Hundred Ninety Three) equity shares of Rs. 10/- (Rupees Ten Only) each on June 8, 2017 to those grantees who had exercised their option under the Companys Employee Stock Option Scheme.

The said shares will rank pari-passu with the existing shares of the Company in all respect.

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Water level of 91 Major Reservoirs of the country goes down by One per cent
Jun 09,2017

The water storage available in 91 major reservoirs of the country for the week ending on June 08, 2017 was 31.862 BCM, which is 20% of total storage capacity of these reservoirs. This percentage was at 21 for the week ending on June 01, 2017. The level of June 08, 2017 was 130% of the storage of corresponding period of last year and 107% of storage of average of last ten years.

The total storage capacity of these 91 reservoirs is 157.799 BCM which is about 62% of the total storage capacity of 253.388 BCM which is estimated to have been created in the country. 37 Reservoirs out of these 91 have hydropower benefit with installed capacity of more than 60 MW.

REGION WISE STORAGE STATUS:-

NORTHERN REGION

The northern region includes States of Himachal Pradesh, Punjab and Rajasthan. There are 6 reservoirs under Central Water Commission (CWC) monitoring having total live storage capacity of 18.01 BCM. The total live storage available in these reservoirs is 4.72 BCM which is 26% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 22% and average storage of last ten years during corresponding period was 28% of live storage capacity of these reservoirs. Thus, storage during current year is better than the corresponding period of last year but is less than the average storage of last ten years during the corresponding period.

EASTERN REGION

The Eastern region includes States of Jharkhand, Odisha, West Bengal and Tripura. There are 15 reservoirs under CWC monitoring having total live storage capacity of 18.83 BCM. The total live storage available in these reservoirs is 4.31 BCM which is 23% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 18% and average storage of last ten years during corresponding period was 17% of live storage capacity of these reservoirs. Thus, storage during current year is better than the corresponding period of last year and is also better than the average storage of last ten years during the corresponding period.

WESTERN REGION

The Western region includes States of Gujarat and Maharashtra. There are 27 reservoirs under CWC monitoring having total live storage capacity of 27.07 BCM. The total live storage available in these reservoirs is 6.00 BCM which is 22% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 12% and average storage of last ten years during corresponding period was 21% of live storage capacity of these reservoirs. Thus, storage during current year is better than the storage of last year and is also better than the average storage of last ten years during the corresponding period.

CENTRAL REGION

The Central region includes States of Uttar Pradesh, Uttarakhand, Madhya Pradesh and Chhattisgarh. There are 12 reservoirs under CWC monitoring having total live storage capacity of 42.30 BCM. The total live storage available in these reservoirs is 13.04 BCM which is 31% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 20% and average storage of last ten years during corresponding period was 17% of live storage capacity of these reservoirs. Thus, storage during current year is better than the storage of last year and is also better than the average storage of last ten years during the corresponding period.

SOUTHERN REGION

The Southern region includes States of Andhra Pradesh, Telangana, AP&TG (Two combined projects in both states) Karnataka, Kerala and Tamil Nadu. There are 31 reservoirs under CWC monitoring having total live storage capacity of 51.59 BCM. The total live storage available in these reservoirs is 3.79 BCM which is 7 % of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 10% and average storage of last ten years during corresponding period was 17% of live storage capacity of these reservoirs. Thus, storage during current year is less than the corresponding period of last year and is also less than the average storage of last ten years during the corresponding period.

States having better storage than last year for corresponding period are Himachal Pradesh, Punjab, Rajasthan, Jharkhand, Odisha, West Bengal, Tripura, Gujarat, Maharashtra, Uttar Pradesh, Madhya Pradesh, Chhattisgarh, and Telangana. States having equal storage than last year for corresponding period are AP&TG (Two combined projects in both states). States having lesser storage than last year for corresponding period are Uttarakhand, Andhra Pradesh, Karnataka, Kerala, and Tamil Nadu.

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IndusInd Bank raises $225 million loan from The Overseas Private Investment Corporation
Jun 09,2017

IndusInd Bank announced that The Overseas Private Investment Corporation and IndusInd Bank on 08 June 2017 executed a Finance Agreement for a $225 million loan supporting the expansion of the Banks Micro, Small and Medium Enterprises lending programmes across India. At least 25% of the proposed facility will support women entrepreneurs and reach previously unbanked populations. This eight year loan is part of the agencys commitment to supporting $1 billion in loans to underserved small and medium enterprises in India.

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Precious metals lose luster
Jun 09,2017

Bullion prices ended sharply lower on Thursday, 08 June 2017. Gold prices suffered a sharp decline on Thursday, erasing a gain for the week as the euro weakened, providing support for the dollar, in the wake of the European Central Banks monetary-policy meeting.

The yellow metal failed to find support from former Federal Bureau of Investigation boss James Comeys testimony before a Senate panel amid an investigation into alleged Russian efforts to interfere in last years presidential race. Investors were also awaiting the outcome of the U.K.s snap general election.

August gold fell $13.70, or 1.1%, to settle at $1,279.50 an ouncen++the lowest finish in a week. Thursdays loss erased what would have been a gain for the week. Prices have now lost 70 cents week to date.

Meanwhile, July silver fell 20.6 cents, or 1.2%, at $17.414 an ounce in Thursday trading.

The ECB Thursday stood pat on its monetary policy. However, it tweaked the so-called n++forward guidancen++ in its policy statement, leaving the impression that it may be inclined to reduce its accommodative posture by lifting interest rates or scaling back its bond-buying program in the near futuren++all factors that could prove bearish for metals, which tend to perform better in an atmosphere of low rates.

Gold remained lower as the euro eased and the dollar gained after the ECB news.

The ICE U.S. Dollar Index which tracks the buck against a basket of six rivals, was up 0.2%. Strength in the dollar can make gold and other commodities pegged to the currency more expensive to buyers using other monetary units, presumably lowering their demand.

Economic data at Wall Street showed that the latest weekly initial jobless claims count totaled 245,000 while the consensus expected a reading of 240,000. Todays tally was below the revised prior week count of 255,000 (from 248,000). As for continuing claims, they declined to 1.917 million from the revised count of 1.919 million (from 1.915 million). The key takeaway from the report is that the level of initial claims remains consistent with a tight labor market.

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GPT Infraprojects secures order worth Rs 210 crore
Jun 09,2017

GPT Infraprojects has bagged an order worth Rs 210 crore for construction of ROB and its approaches in lieu of Level Crossing on NH-60 and construction of ROB and its approaches in lieu of Unmanned LevelCrossings on NH-60 in West Bengal from Office of the Superintending Engineer, Public Works (Roads) Directorate, Government of West Bengal. The size of the contract is Rs 210 crore and completion period is 24 months.

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GPT Infraprojects rises after winning order
Jun 09,2017

The announcement was made during trading hours today, 9 June 2017.

Meanwhile, the S&P BSE Sensex was down 40.31 points, or 0.13% to 31,173.05.

On the BSE, 5393 shares were traded in the counter so far, compared with average daily volumes of 9,676 shares in the past one quarter. The stock had hit a high of Rs 277.30 and a low of Rs 268 so far during the day. The stock hit a record high of Rs 299.85 on 3 October 2016. The stock hit a 52-week low of Rs 192.05 on 21 November 2016.

The stock had outperformed the market over the past one month till 8 June 2017, rising 10.41% compared with 3.19% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 10.96% as against Sensexs 7.83% rise. The scrip had also outperformed the market in past one year, rising 15.76% as against Sensexs 16.63% rise.

The small-cap company has equity capital of Rs 14.54 crore. Face value per share is Rs 10.

GPT Infraprojects said that the order is for construction of ROB (road over bridge) and its approaches in lieu of level crossing on National Highway (NH)-60 and construction of ROB and its approaches in lieu of unmanned level crossings on NH-60 in West Bengal. The order was awarded by the Office of the Superintending Engineer, Public Works (Roads) Directorate, Government of West Bengal. The order is to be completed within 24 months.

On a consolidated basis, net profit of GPT Infraprojects rose 33.33% to Rs 4.44 crore on 16.31% decline in net sales to Rs 148.33 crore in Q4 March 2017 over Q4 March 2016.

GPT Infraprojects is a premier infrastructure company based out of Kolkata. It operates through two business divisions - infrastructure and sleepers. In sleepers, the company manufactures and supplies concrete sleeper for Railways in India and Africa.

The company has current orders in hand of nearly Rs 2033 crore including cumulative order inflow of Rs 473 crore in the current financial year.

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India announces mounting of a National Mission on advanced ultra supercritical technologies for cleaner coal utilization
Jun 09,2017

India announces mounting a National Mission on advanced ultra supercritical technologies for cleaner coal utilisation at a total cost of US $ 238 million and setting up of two Centres of Excellence on Clean Coal Technologies at US $5 million each. In its quest for cleaner fuels, a National Mission on methanol and di-methyl ether is being mounted. A new centre on solar photovoltaic, thermal storage and solar fuels research has been approved ~ US $ 5 million. Funding opportunities have been announced in the area of energy storage, clean coal, waste water treatment amounting to US $ 10 million. This announcement was made at the 2ndMission Innovation Ministerial and 8th Clean Energy Ministerial at Beijing, China.

India also announced two MI-centric Funding Opportunities in Smart Grid and Offgrid Access at US $ 5 million each. Joint virtual Clean Energy Centre with UK and Indian Government funding of UK n++ 5 million each has been initiated. Under the Indo - USJoint Clean Energy Research (PACE - R) the new collaborative public - private programme on Smart Grids & Energy Storage has been approved. India has also embarked upon a joint programme on renewable energy with Norway

Energy Ministers from 23 Nations with 80% of Clean Energy Investments and 75% of GHG Emission met on June 6-8, 2017 at Beijing, China to focus on Advancing Clean Energy Cooperation and Implementing Paris Agreement Commitments

Dr. Harsh Vardhan also participated alongwith 4 other Ministers in a roundtable on n++Accelerating innovation via public-private synergies, n++Getting to the Future Faster: Accelerating Innovation in Clean Energy Technology through Public and Private Collaborationn++, which considered the roles of the private and public sectors in the innovation ecosystem, synergies between the two, and successful models for feeding the innovation pipeline and accelerating outcomes.

The Minister held a successful bilateral meeting with US Secretary Rick Perry. Joint collaboration in clean energy was discussed to widen new areas of research cooperation in clean coal, carbon capture and accessible and affordable water. These areas will be in addition to strengthening ongoing partnerships under PACE-R. A new partnership in india-US clean energy was also discussed,

Eighteen months ago on 30th November 2015, leaders of 20 countries came together to launch Mission Innovation (MI), a landmark 5-year commitment to accelerate the pace of innovation and make clean energy widely affordable and accessible worldwide. MI now comprises 22 economies and the European Commission, representing the European Union, and collectively accounts for more than 80 percent of the worlds total public financing of clean energy R&D.

Mission Innovation developed and launched 7 Innovation Challenges in November 2016. These Innovation Challenges focus on selected technical area where MI members believe increased international attention would make a significant impact. India is Co-leading three Challenges - Smart Grid, Off Grid Access and Sustainable Biofuels. Minister Harsh Vardhan released the India Action Plan for next 3 years

Energy ministers and other high-level delegates from all MI member governments participated in a business meeting on June 7 to discuss plans, progress, country highlights, and preview a series of public announcements on selected areas of joint cooperation.

Ministers and delegates gave their encouragement to carrying out an MI Action Plan. This Plan highlights a number of priority areas for cooperative work, as identified by MI members who have opted-in, in joint research, business and investor engagement and information sharing.

India informed that two MI-India Workshops were organized on 22-23 May, 2017 on Innovation Challenge (IC#1) on Smart Grids and Innovation Challenge ( IC#2) Offgrid access to electricity at New Delhi., India which identified possible topics of co-operation with MI countries. India also launched MI-India funding opportunity of US $ 5 million each for achieving objectives envisaged in both these Innovation Challenges.

India announced its plan for hosting a MI Sustainable Biofuel Innovation Challenge Workshop in December, 2017 in New Delhi, India in collaboration with Biofuture platform.

The increased focus on Innovation by both public and private sectors is expected to give rise to new and advanced technologies, performance breakthroughs, and significant cost reductions. These, in turn, will create opportunities for new industries and jobs and expand markets for reliable and clean energy - for both production and demand. The lower costs will spur economic growth and accelerate market uptake, enabling the realization of the benefits of accessible, reliable and affordable clean energy worldwide.

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Natco Pharma surges 12.68% in seven sessions
Jun 09,2017

Meanwhile, the S&P BSE Sensex was down 55.08 points, or 0.18% at 31,158.28.

On the BSE, 34,000 shares were traded on the counter so far as against the average daily volumes of 34,331 shares in the past one quarter. The stock had hit a high of Rs 1,054 so far during the day which is also its record high. The stock hit a low of Rs 1,028 so far during the day. The stock had hit a 52-week low of Rs 494 on 20 June 2016.

The stock had outperformed the market over the past one month till 8 June 2017, advancing 12.62% compared with the Sensexs 4.3% rise. The scrip had also outperformed the market over the past one quarter gaining 30.11% as against the Sensexs 8% rise. The scrip had also outperformed the market over the past one year advancing 97.56% as against the Sensexs 15.52% rise.

The large-cap company has equity capital of Rs 34.86 crore. Face value per share is Rs 2.

Shares of Natco Pharma surged 12.68% in seven trading sessions to its current ruling price of Rs 1,052, from a close of Rs 933.65 on 31 May 2017.

Natco Pharmas consolidated net profit spurted 181.4% to Rs 176.70 crore on 46.5% increase in net sales to Rs 577.80 crore in Q4 March 2017 over Q4 March 2016.

Natco Pharma manufactures generic dosage forms, bulk actives and intermediates for the Indian and international markets.

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