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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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Lok Sabha Passes the Admiralty Bill 2016
Mar 14,2017

The Admiralty (Jurisdiction and Settlement of Maritime Claims) Bill, 2016 was passed by the Lok Sabha on 10 March 2017. The Bill aims to establish a legal framework to consolidate the existing laws relating to admiralty jurisdiction of courts, admiralty proceedings on maritime claims, arrest of vessels and related issues. It also aims to replace archaic laws which are hindering efficient governance. The Bill confers admiralty jurisdiction on High Courts located in coastal states of India and this jurisdiction extends upto territorial waters.

Introduced during the winter session of Parliament, the Bill came up for discussion in the Lok Sabha. The Minister of State ( RT&H, S, C&F), Shri Mansukh Mandaviya, presented an overview of the Bill in the House, highlighting the need for repealing five obsolete British statutes on admiralty jurisdiction in civil matters, which are 126 to 177 years old. The Bill provides for prioritization of maritime claims and maritime liens while providing protection to owners, charterers, operators, crew members and seafarers at the same time. During the course of discussion, thirteen members presented their views and raised various questions which were replied to by Shri Mandaviya. The Bill was then passed by the House.

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Sundaram Clayton fixes record date for interim dividend
Mar 14,2017

Sundaram Clayton has fixed 21 March 2017 as record date for interim dividend. Dividend payment date is 24 March 2017.

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NBCC (India) gains after securing contract
Mar 14,2017

The announcement was made after market hours on Friday, 10 March 2017.

Meanwhile, the S&P Sensex was up 509.35 points, 1.76% to 29,455.58.

On the BSE, 83,000 shares were traded on the counter so far as against the average daily volumes of 2.59 lakh shares in the past one quarter. The stock had hit a high of Rs 178.20 and a low of Rs 173.55 so far during the day.

The stock had hit a record high of Rs 199.47 on 5 October 2016 and a 52-week low of Rs 117.67 on 24 June 2016. The stock had underperformed the market over the past one month till 10 March 2017, declining 9.28% compared with the Sensexs 2.16% rise. The scrip had, however, outperformed the market over the past one quarter advancing 9.65% as against the Sensexs 8.22% rise.

The large-cap company has equity capital of Rs 180 crore. Face value per share is Rs 2.

NBCC (India) announced that the company has signed an agreement on Friday 10 March 2017, with the State of Mauritius (Government of Mauritius) and Landscope (Mauritius) for construction of new supreme court building on PMC basis in Mauritius. The approximate value of the project is Rs 250 crore having completion period of 24 months.

NBCC (India)s consolidated net profit rose 15.9% to Rs 64.42 crore on 4% increase in net sales to Rs 1413.77 crore in Q3 December 2016 over Q3 December 2015.

NBCC (India) is a blue-chip Government of India (GoI) Navratna Enterprise under the Ministry of Urban Development, in construction sector. The GoI held 75% stake in the firm (as per shareholding pattern as on 22 February 2017).

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Beardsell fixes record date for interim dividend
Mar 14,2017

Beardsell announced that the Board of Directors have fixed the Record Date as 23 March 2017 for the purpose of ascertaining the members eligible for Interim Dividend for the year 2016-2017

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Shri Keshav Cements & Infra announces resignation of director
Mar 14,2017

Shri Keshav Cements & Infra announced that the Board of Directors of the Company noted the resignation of Ramesh Shah, Independent Director through Circular Resolution passed with effect from 13 March 2017.

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Power Grid Corporation gains as board accords investment approval
Mar 14,2017

The announcement was made on Saturday, 11 March 2017.

Meanwhile, the S&P BSE Sensex was up 452.51 points or 1.56% at 29,401.55

On BSE, so far 28,000 shares were traded in the counter as against average daily volume of 3.99 lakh shares in the past one quarter. The stock hit a high of Rs 198.30 and a low of Rs 195.20 so far during the day. The stock had hit a record high of Rs 209 on 22 February 2017. The stock had hit a 52-week low of Rs 136.30 on 18 March 2016.

The large-cap company has equity capital of Rs 5231.59 crore. Face value per share is Rs 10.

Power Grid Corporation of Indias net profit rose 20.16% to Rs 1930.02 crore on 23.94% increase in total income to Rs 6787.51 crore in Q3 December 2016 over Q3 December 2015.

Power Grid Corporation of India is a state run electric power transmission utility company. The Government of India holds 57.9% stake in the firm as at 31 December 2016.

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ACC gains after selling shares in Shiva Cements
Mar 14,2017

The announcement was made after market hours on Friday, 10 March 2017.

Meanwhile, the S&P BSE Sensex was up 453.07 points, or 1.57% to 29,399.30.

On the BSE, 5,246 shares were traded in the counter so far, compared with average daily volumes of 18,870 shares in the past one quarter. The stock had hit a high of Rs 1,428.40 and a low of Rs 1,409.20 so far during the day.

The stock hit a 52-week high of Rs 1,738 on 8 August 2016. The stock hit a 52-week low of Rs 1,218.60 on 11 March 2016.

The stock had underperformed the market over the past one month till 10 March 2017, falling 5.78% compared with 2.18% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 1.48% as against Sensexs 8.22% rise.

The large-cap cement major has equity capital of Rs 187.79 crore. Face value per share is Rs 10.

ACC announced that it has on 9 March 2017, sold its entire 12.13% stake in Shiva Cement, comprising 2.36 crore shares, at a total consideration of Rs 38.66 crore to JSW Cement. The open market transaction took place at Rs 16.35 per share. The transaction is part of an earlier share purchase agreement (SPA) dated 15 February 2017, entered into between the company and JSW Cement. ACC was holding 12.13% in Shiva Cement in the public shareholders (non-promoter) category.

Shiva Cement had executed a SPA with JSW Cement in January this year for sale of shares held by the promoters of Shiva Cement, followed by an open offer to the public shareholders of Shiva Cement, to enable JSW Cement to get a controlling stake in the Odisha-based company. JSW Cement had agreed to buy a 35.6% stake from Shiva Cements promoters for Rs 97.24 crore. Further, JSW Cement had made an open offer to the public equity shareholders of Shiva Cement to acquire up to 6.24 crore fully paid-up equity shares, constituting 32% of the total fully diluted voting equity share capital of the company.

The total promoter holding in Shiva Cement end December 2016 stood at 35.62%. Shiva Cement runs an integrated plant near Rourkela in Odisha. It sells cement under the Sumangal brand and caters primarily to the eastern states.

ACCs consolidated net profit declined 44.98% to Rs 56.34 crore on 6.13% fall in net sales to Rs 2671.61 crore in Q4 December 2016 over Q4 December 2015.

ACC is a manufacturer of cement and concrete and is a member of LafargeHolcim group. The company has a countrywide network of modern cement and concrete plants, sales offices, dealers and retailers.

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Outcome of board meeting of Palred Technologies
Mar 14,2017

Palred Technologies announced that the Board of Directors of the Company at its meeting held on 13 March 2017 has considered and approved the following -

Preferential Issue of Equity Shares.

Convening Extra-Ordinary General Meeting of the Company on 08 April 2017.

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To cater to the needs of the local farmers, the Central Government has established this Banana Research Centre: Shri Radha Mohan Singh
Mar 14,2017

Union Agriculture and Farmers Welfare Minister Shri Radha Mohan Singh said that Bihar and particularly Vaishali district is very suitable for the cultivation of bananas and large scale production of banana can change the fate of farmers.

Shri Singh stated that Rajendra Krishi Viswavidyalaya, Pusa has got the status of Central Agriculture University only in October, 2016. After that the Government has established this Banana Research Centre to fulfil the aspirations of the banana growers of Vaishali. Banana Research Centre, Vaishali falls under Garole area and because of the ecological conditions of Garole, it has been selected for the establishment of this centre. He further stated that this centre will work in the areas of finding reasons of less production in banana, enhancement in acreage for cultivation, suitable utilization of the various parts of the plants, different products, marketing and value addition.

Shri Singh said that Dr. Rajendra Prasad Central Agricultural University has already started the research work for doubling the income from banana cultivation. With starting this centre the research work will get more momentum. He was hopeful that with the cooperation of the researchers of this centre and with the participation of farmers, it would help to bring a new era of banana cultivation in Bihar and surrounding states like it happened in Maharashtra.

Union Agriculture and Farmers Welfare Minister further stated that the farmers of Maharashtra have developed a domestic and export market with the help of 26 cooperative societies operating in the state and thus has given a new direction in the field of banana cultivation. By adopting high density cultivation, tissue culture, drip irrigation etc. Maharashtra is transporting high quality bananas to the entire country through 12-15 thousand Railway Wagons.

Shri Singh further informed that the total production of banana in the country is around 14.2 million tons. India holds number one position in the world in the area of banana production and stands at number three in acreages which is 13 per cent of the entire acreage and 33 per cent of the total production. Among the states, Maharashtra is the largest producer followed by Tamil Nadu. Productivity of Maharashtra is 65.7 ton/ha, which is more than the average national production of 34.1 ton/ha. Banana is grown in Bihar in around 27.2 thousand hectare, production is around 550 thousand tons and average productivity is 20.0 ton/ha, which is very less than the national average.

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Tata Elxsi Partners with DiSTI
Mar 14,2017

The DiSTI Corporation, a leading provider of graphical userinterface software and customized 3D virtual maintenance training solutions, has entered into strategic partnership with Tata Elxsi to deliver DiSTIs GL Studio UI products with Tata Elxsi software services. Tata Elxsi developed their e-Cockpit demonstrator using DiSTIs GL Studio UIDesigner.

DiSTI and TATA ELXSI will showcase the e-Cockpit demonstration at Embedded World 2017 in Germany on 14-16 March.

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Indian Bank announces cessation of director
Mar 14,2017

Indian Bank announced that Deepak D Samant, who has been appointed as Officer Employee Director on the Board of Directors of Indian Bank for a period of three years vide Government of India Notification dated 11 March 2014, ceases to be a director of the Bank on completion of his three years tenure on 10 March 2017.

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Palred Technologies raises Rs 22 crore
Mar 14,2017

Palred Technologies is raising Rs 22 crore through a preferentialallotment. The board of the Company approved an allotment of Rs 22 crore by way of preferential allotment at a price of Rs 145 per share. Florintree led and advised investors are the lead participants in thisround of preferential allotment.

The investors include Mathew Cyriac (former Co-Head ofBlackstone India Private Equity Business), Chidambaram Palaniappan (founder of Florintree), K. Madhavan (Joint Managing Director of Star TV India) and Bharat Sheth (Managing Director of Great Eastern Shipping).

Ashish Dhawan, founder of Chryscapital and an existing investor for over ten years in the Company is participating in this financing round apart from another existing investor, Passage to India Master Fund.

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Mission Fingerling with a total expenditure of about Rs. 52000 lakh to achieve Blue Revolution
Mar 14,2017

Recognizing the potential and possibilities in the fisheries sector, Government of India has envisaged a program named Blue Revolution to unlock the countrys latent potential through an integrated approach. The Blue Revolution, in its scope and reach, focuses on creating an enabling environment for an integrated and holistic development and management of fisheries for the socio economic development of the fishers and fish farmers. Thrust areas have been identified for enhancing fisheries production from 10.79 mmt (2014-15) to 15 mmt in 2020-21.

Greater emphasis will be on infrastructure with an equally strong focus on management and conservation of the resources through technology transfer to increase in the income of the fishers and fish farmers. Productivity enhancement shall also be achieved through employing the best global innovations and integration of various production oriented activities such as: Production of quality fish seeds, Cost effective feed and adoption of technology etc.

Fish Fingerling production is the single most important critical input visualised to achieve fish production targets under the Blue Revolution. We need to establish more hatchery to produce Fry/PL required for different categories of water bodies. Barring few States thats to in terms of fry (15-20 mm size), all States are in need of Fingerling production (standard size 80-100 mm). Use of High Yielding Verities of brooders is another significant aspect to be addressed on priority.

The Department has identified 20 States based on their potential and other relevant factors to strengthen the Fish Seed infrastructure in the country. This program with a total expenditure of about Rs. 52000 lakh will facilitate the establishment of hatcheries and Fingerling rearing pond to ensure the fish production of 426 crores fish fingerling, 25.50 crores Post Larvae of shrimp and crab in the country. This will converge in the production of 20 lakh tonnes of fish annually and will benefit about 4 million families. The implementation of this program will supplement the requirement of stocking materials in the country up to a large extent, which is a much needed input to achieve the enhanced fish production.

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Pneumatic Holding fixes record date for interim dividend
Mar 14,2017

Pneumatic Holding has fixed 23 March 2017, as Record Date for the purpose of ascertaining the names of members entitled to interim dividend for the financial year 2016-17. The date of payment of the interim dividend will be 27 March 2017.

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Shares of RMC Switchgears get listed
Mar 14,2017

The equity shares of RMC Switchgears (Scrip Code: 540358) are listed effective 14 March 2017 and admitted to dealings on the Exchange in the list of M Group Securities.

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