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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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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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Infosys slips on buzz founders may sell stake
Jun 09,2017

Meanwhile, the S&P BSE Sensex was down 85.09 points, or 0.27% to 31,128.27.

On the BSE, 6.82 lakh shares were traded in the counter so far, compared with average daily volumes of 2.60 lakh shares in the past one quarter. The stock had hit a high of Rs 942 and a low of Rs 923.05 so far during the day. The stock hit a 52-week high of Rs 1,228.90 on 9 June 2016. The stock hit a 52-week low of Rs 900.30 on 9 November 2016.

The stock had underperformed the market over the past one month till 8 June 2017, rising 1.39% compared with 3.19% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 6.25% as against Sensexs 7.83% rise. The scrip had also underperformed the market in past one year, falling 19.33% as against Sensexs 16.63% rise.

The large-cap company has equity capital of Rs 1148.47 crore. Face value per share is Rs 5.

According to the report, the co-founders of Infosys are exploring a sale of their combined 12.75% stake in the company worth about Rs 28000 crore. This move is said to have been triggered by the promoters unhappiness over the manner in which the company has been run since their exit three years ago. Instead of a war of attrition with the companys board and management, the promoters appear to have veered around to the view that it might be better to make a complete break from the company they founded in 1981 and listed on the bourses in 1993.

Any stake sale is most likely to take place through stock market block deals, and in tranches, the report added.

Infosys co-foundersn++ Narayana Murthy, Nandan Nilekani, Kris Gopalakrishnan, SD Shibulal and K Dineshn++ hold neither executive nor non-executive roles in the company anymore. Still, their exit moves, coming at a time when the sector is facing business uncertainties, could act as an overhang on the stock price, the report said.

Infosys consolidated net profit fell 2.8% to Rs 3603 crore on 0.9% decline in revenues to Rs 17120 crore in Q4 March 2017 over Q3 December 2016.

Infosys is a global leader in technology services and consulting.

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Ceat inflates as foreign brokerage assigns outperform rating
Jun 09,2017

Meanwhile, the S&P BSE Sensex was down 96.87 points or 0.31% at 31,116.49. The BSE Mid-Cap index was down 45.32 points or 0.31% at 14,789.10.

On BSE, so far 26,000 shares were traded in the counter as against average daily volume of 1.43 lakh shares in the past one quarter. The stock hit a high of Rs 1,916.70 and a low of Rs 1,896.80 so far during the day. The stock had hit a record high of Rs 1,934.10 on 8 June 2017. The stock had hit a 52-week low of Rs 731.20 on 24 June 2016.

The mid-cap company has equity capital of Rs 40.45 crore. Face value per share is Rs 10.

A foreign brokerage has reportedly initiated coverage on the Ceat stock with an outperform rating with a price target of Rs 2,250 per share. The brokerage said that the tyre maker has a stronger brand and wider reach. The tyre industrys pricing response to cost increases is positive, it added.

Ceats consolidated net profit dropped 32.51% to Rs 66.33 crore on 5.28% growth in total income to Rs 1475.42 crore in Q4 March 2017 over Q4 March 2016.

Ceat is one of Indias leading tyre manufacturers. The company sells its tyres under the Ceat brand.

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Board of Voltas approves appointment of directors
Jun 09,2017

The Board of Directors of Voltas have approved the appointment of the following directors at meeting held on 8 June 2017 -

Arun Kumar Adhikari as Additional Director and Independent Director
Anil George, President Corporate Affairs & CFO as Additional Director and Executive Director
Pradeep Bakshi, President & COO as Additional Director and Executive Director

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Redington (India) jumps on bargain hunting
Jun 09,2017

Meanwhile, the S&P BSE Sensex was down 111.15 points, or 0.36% to 31,102.21.

On the BSE, 19,000 shares were traded in the counter so far, compared with average daily volumes of 5.81 lakh shares in the past one quarter. The stock had hit a high of Rs 143 and a low of Rs 139.95 so far during the day. The stock hit a record high of Rs 155.35 on 5 June 2017. The stock hit a 52-week low of Rs 79.70 on 9 November 2016.

The stock had outperformed the market over the past one month till 8 June 2017, rising 8.28% compared with 3.19% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 26.97% as against Sensexs 7.83% rise. The scrip had also outperformed the market in past one year, rising 32.96% as against Sensexs 16.63% rise.

The mid-cap company has equity capital of Rs 79.97 crore. Face value per share is Rs 2.

Shares of Redington (India) fell 7.48% in three trading sessions to settle at Rs 137.95 yesterday, 8 June 2017, from its close of Rs 149.10 on 5 June 2017.

Redington (India)s consolidated net profit rose 11.15% to Rs 153.32 crore on 3.06% increase in net sales to Rs 10794.98 crore in Q4 March 2017 over Q4 March 2016.

Redington (India) is a supply chain solutions provider worldwide to leading manufacturers of information technology, telecom, lifestyle and consumer electronics products.

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Greenply Inds advances as overseas unit commences production
Jun 09,2017

The announcement was made after market hours yesterday, 8 June 2017.

Meanwhile, the S&P BSE Sensex was down 14.57 points or 0.05% at 31,198.79. The S&P BSE Small-Cap index was down 36.14 points or 0.23% at 15,508.69.

On the BSE, 4,104 shares were traded on the counter so far as against the average daily volumes of 89,783 shares in the past one quarter. The stock had hit a high of Rs 276.95 and a low of Rs 271.50 so far during the day. The stock had hit a record high of Rs 309 on 6 March 2017 and a 52-week low of Rs 217.20 on 7 June 2016.

The mid-cap company has equity capital of Rs 12.26 crore. Face value per share is Re 1.

Greenply Industries said that the companys step-down subsidiary GREENPLY GABON SA, Gabon, West Africa has commenced commercial production of Veneer, at its manufacturing unit at Nkok SEZ, Gabon, West Africa.

Greenply Industries net profit rose 0.5% to Rs 41.87 crore on 0.33% decline in net sales to Rs 446.58 crore in Q4 March 2017 over Q4 March 2016.

Greenply Industries is into manufacturing and marketing of a wide range of interior infrastructure products.

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Tata Consultancy Services provides update after buyback of shares
Jun 09,2017

Tata Consultancy Services has bought back 5,61,40,350 equity shares during the tending period for the buyback that opened on 18 May 2017 and closed on 31 May 2017. These shares have been extinquished / destroyed. The equity share capital after the said extinquishment stands at 191,42,87,591.

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Outcome of board meeting of Bharat Financial Inclusion
Jun 09,2017

The Board of Directors of Bharat Financial Inclusion at its meeting held on 08 June 2017 have approved augmentation of the ESOP pool under the Companys Employees Stock Option Plan 2011 (ESOP Plan 2011) by additional 27,50,000 (Twenty-seven Lakh Fifty Thousand) stock options (which constitutes ~ 2% of the paid-up share capital as on March 31, 2017) which shall be convertible into equivalent number of equity shares having face value of Rs.10 each.

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Hydropower stocks in demand
Jun 09,2017

NHPC (up 6.98%) and SJVN (up 5.42%), edged higher.

The BSE Sensex was down 47.16 points, or 0.15% at 31,166.20.

According to reports, this is the first package for the power sector provided by the current government. This package includes a 4% interest subvention to projects with total capacity of 11,639 megawatts (MW) and the creation of a Hydro Power Development Fund. The fund would be financed with either coal cess, or from the National Clean Energy Fund or the pool for the Development of North Eastern Region (DONER).

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