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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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Omkar Speciality Chemicals fixes record date for scheme of arrangement
Jun 08,2017

Omkar Speciality Chemicals has fixed 13 June 2017 as the Record Date for the purpose of determining shareholders of Omkar Speciality Chemicals to whom equity share of Lasa Supergenerics (Resulting Company) shall be allotted pursuant to the scheme.

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Volumes jump at Petronet LNG counter
Jun 08,2017

Petronet LNG clocked volume of 9.61 crore shares by 13:31 IST on BSE, a 1029.36-times surge over two-week average daily volume of 93,000 shares. The stock lost 3.09% to Rs 426.50.

Sinclairs Hotels notched up volume of 3.71 lakh shares, a 136.92-fold surge over two-week average daily volume of 3,000 shares. The stock jumped 9.78% to Rs 338.

Jammu & Kashmir Bank saw volume of 25.97 lakh shares, a 48.58-fold surge over two-week average daily volume of 53,000 shares. The stock gained 2.54% to Rs 84.65.

Sanofi India clocked volume of 15,000 shares, a 44.22-fold surge over two-week average daily volume of 344 shares. The stock shed 0.88% to Rs 4,040.

Motilal Oswal Financial Services saw volume of 7.13 lakh shares, a 38.20-fold rise over two-week average daily volume of 19,000 shares. The stock slipped 0.26% to Rs 1,130.

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Unimode Overseas fixes record date for reduction of equity share capital
Jun 08,2017

Unimode Overseas announced that for giving effect to the Reduction of Paid-up Share Capital of the Company, duly approved by Principal Bench National Company Law Tribunal at New Delhi, the Company has fixed Thursday, 22 June 2017 as the Record Date.

Accordingly, with effect from the record date, the existing issued, subscribed and fully paid-up equity share capital of the Company shall be reduced to the extent of 90%. Consequently, pursuant to reduction, the Paid-up Equity Share Capital shall stand reduced to Rs. 50,10,507/- (comprising of 50,10,507 Equity Shares of face value of Rs. 1/- each).

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Board of Sarda Energy & Minerals recommends final dividend
Jun 08,2017

Sarda Energy & Minerals announced that the Board of Directors of the Company at its meeting held on 6 June 2017, inter alia, have recommended the final dividend of Rs 4 per equity Share (i.e. 40%) , subject to the approval of the shareholders.

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Board of Indraprastha Gas recommends final dividend
Jun 08,2017

Indraprastha Gas announced that the Board of Directors of the Company at its meeting held on 27 May 2017, inter alia, have recommended the final dividend of Rs 5 per equity Share (i.e. 50%) , subject to the approval of the shareholders.

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Adani Transmission biggest loser on BSEs A group
Jun 08,2017

Adani Transmission hit a lower circuit limit of 5% at Rs 113.85. The stock topped the losers in A group. On the BSE, 2.78 lakh shares were traded on the counter so far as against the average daily volumes of 2.78 lakh shares in the past two weeks.

Videocon Industries hit a lower circuit limit of 5% at Rs 30.05. The stock was the second biggest loser in A group. On the BSE, 27,000 shares were traded on the counter so far as against the average daily volumes of 38,000 shares in the past two weeks.

Housing Development & Infrastructure (HDIL) fell 3.76% at Rs 89.55. The stock was the third biggest loser in A group. On the BSE, 24.41 lakh shares were traded on the counter so far as against the average daily volumes of 25.67 lakh shares in the past two weeks.

Info Edge (India) skid 3.55% at Rs 1,042.15. The stock was the fourth biggest loser in A group. On the BSE, 6,472 shares were traded on the counter so far as against the average daily volumes of 34,000 shares in the past two weeks.

TCS tumbled 3.30% at Rs 2,529.15. The stock was the fifth biggest loser in A group. On the BSE, 1.38 lakh shares were traded on the counter so far as against the average daily volumes of 1.40 lakh shares in the past two weeks.

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Board of HBL Power Systems recommends final dividend
Jun 08,2017

HBL Power Systems announced that the Board of Directors of the Company at its meeting held on 26 May 2017, inter alia, have recommended the final dividend of Rs 0.25 per equity Share (i.e. 25%) , subject to the approval of the shareholders.

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Board of Investment & Precision Castings recommends special dividend
Jun 08,2017

Investment & Precision Castings announced that the Board of Directors of the Company at its meeting held on 23 May 2017, inter alia, have recommended the special dividend of Rs 0.25 per equity Share (i.e. 2.5%) , subject to the approval of the shareholders.

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Board of Schablona India recommends final dividend
Jun 08,2017

Schablona India announced that the Board of Directors of the Company at its meeting held on 23 May 2017, inter alia, have recommended the final dividend of Rs 4 per equity Share (i.e. 100%) , subject to the approval of the shareholders.

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Board of Investment & Precision Castings recommends final dividend
Jun 08,2017

Investment & Precision Castings announced that the Board of Directors of the Company at its meeting held on 23 May 2017, inter alia, have recommended the final dividend of Rs 1 per equity Share (i.e. 10%) , subject to the approval of the shareholders.

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HDIL cracks on debt repayment worries
Jun 08,2017

Meanwhile, the S&P BSE Sensex was down 55.73 points or 0.18% at 31,215.55. The S&P BSE Mid-Cap index was up 34.99 points or 0.24% at 14,835.84.

On the BSE, 22.28 lakh shares were traded on the counter so far as against the average daily volumes of 22.66 lakh shares in the past one quarter. The stock had hit a high of Rs 92.30 and a low of Rs 88.30 so far during the day. The stock had hit a 52-week high of Rs 108.75 on 12 July 2016 and a 52-week low of Rs 52.25 on 27 December 2016.

The stock had underperformed the market over the past one month till 7 June 2017, falling 4.22% compared with 4.47% rise in the Sensex. The scrip, however, outperformed the market in past one quarter, surging 30.23% as against Sensexs 8.10% rise. The scrip, however, underperformed the market in past one year, falling 4.12% as against Sensexs 15.73% rise.

The mid-cap company has equity capital of Rs 434 crore. Face value per share is Rs 10.

As per reports, Central Bank of India has taken symbolic possession of HDILs property in Kurla West. The property is a 10-acre portion of all pieces and parcels of land and premises admeasuring 2.13 lakh square metres. The bank is carrying out the procedures required under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, reports indicated. The bank had issued a public notice on 1 June 2017, asking HDIL to pay the loan amount, reports added.

Shares of Housing Development & Infrastructure (HDIL) had gained 4.23% to settle at Rs 93.60 on 5 June 2017 after a foreign fund Societe Generale bought 25.32 lakh shares of the company at Rs 92.04 per share in a bulk deal on NSE.

HDILs consolidated net profit rose 28% to Rs 60.89 crore on 61.62% slide in net sales to Rs 129.51 crore in Q4 March 2017 over Q4 March 2016.

HDIL is a real estate development company, with significant operations in the Mumbai Metropolitan Region.

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GST can make the gold industry more transparent-World Gold Council
Jun 08,2017

The tax on gold is set to increase from 1st July 2017. Prior to GST being implemented, the overall tax rate on gold jewellery stands at 12.2%. This is made up of 10% customs duty, 1% excise duty, and 1.2% VAT.1 GST replaces the excise duty and VAT components, but sits on top of the import duty. The headline gold rate of 3% announced on 3rd June has been welcomed by the industry, as it is significantly lower than many had feared.

GST will bring greater transparency to the supply chain, and bring more of the gold market into the formal sector. We expect this to make it harder for retailers to under-carat their customers. And separately, a slew of measures from the Bureau of Indian Standards is pushing the industry towards mandatory hallmarking, which will also tackle the issue of under-carating.

We believe GST may be disruptive in the short term as the industry adjusts to the new tax regime. Manufacturers and retailers working capital could be tied up because of inter-state gold stock transfers. Small-scale artisans and retailers with varying degrees of tax compliance may struggle to adapt. Consumer demand faces a headwind from the higher rate of tax. And consumers and jewellers may try to conduct recycling transactions under the counter, away from the prying eye of the tax man.

But the positives are significant. GST should eliminate double taxation and improve supply chains efficiency. GST can make the gold industry more transparent which, coupled with recent hallmarking legislation, should ensure gold buyers have confidence in the gold products they buy, rather than continuing to suffer from the gross level of under-carating they have previously endured.

And Indias entire economy is on a rapid journey to becoming more organised and more transparent, boosting economic growth. This is vitally important for Indias gold market: our econometric analysis reveals that income growth is the single biggest driver of gold demand in India.

In summary, GST represents a radical step forward for Indias economy. While it could present short-term challenges to the gold industry, we believe it will boost the economy and make the gold industry more transparent to the benefit of gold buyers. This should support Indias gold demand, which we expect to be between 650-750t in 2017, rising to 850-950t by 2020.

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Endurance Tech slips in volatile trade after announcing expansion
Jun 08,2017

Meanwhile, the S&P BSE Sensex was down 33.79 points or 0.11% at 31,237.49

On the BSE, 5,924 shares were traded on the counter so far as against the average daily volumes of 14,523 shares in the past one quarter. The stock hit a high of Rs 920.95 in intraday trade so far, which is record high for the counter. The stock had hit a low of Rs 893 so far during the day. The stock had hit a record low of Rs 518.25 on 21 November 2016.

The stock had outperformed the market over the past one month till 7 June 2017, rising 13.13% compared with 4.47% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 28.47% as against Sensexs 8.10% rise.

The large-cap company has equity capital of Rs 140.66 crore. Face value per share is Rs 10.

Endurance Technologies said that the company has planned expansion of its annual installed capacity for manufacturing aluminium die casting (high pressure) and machining components / parts at its Chennai plant. The announcement was made after market hours yesterday, 7 June 2017.

The installed capacity is planned to be expanded to 12,250 million tonnes from 8,161 million tonnes. The expansion will be carried in a phased manner over a period of four to six quarters. The investment of about Rs 9.12 crore required for the expansion plan will be funded through internal accruals.

Shares of Endurance Technologies had debuted on BSE on 19 October 2016 at Rs 570, a premium of 20.76% over its initial public offer (IPO) of Rs 472 per share. The IPO of Endurance Technologies had seen strong response from investors. The issue had received bids for 75.52 crore shares and it was subscribed 43.84 times.

Endurance Technologies consolidated net profit rose 3.08% to Rs 83.54 crore on 4.32% rise in total income to Rs 1392.67 crore in Q4 March 2017 over Q4 March 2016.

Endurance Technologies is a two-wheeler and three-wheeler automotive component manufacturer. The company has operations in Europe with manufacturing facilities in Italy and Germany. The company is a tier one supplier to original equipment manufacturers (OEMs) for most of its products.

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Gujarat Pipavav rises on buzz APM Terminals to offload stake
Jun 08,2017

Meanwhile, the S&P BSE Sensex was down 46.03 points, or 0.15% to 31,225.25.

On the BSE, 1.29 lakh shares were traded in the counter so far, compared with average daily volumes of 1.79 lakh shares in the past one quarter. The stock had hit a high of Rs 150 and a low of Rs 145.10 so far during the day. The stock hit a 52-week high of Rs 197.35 on 9 September 2016. The stock hit a 52-week low of Rs 121.20 on 26 December 2016.

The stock had underperformed the market over the past one month till 7 June 2017, sliding 10.20% compared with 4.47% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 6.81% as against Sensexs 8.10% rise. The scrip had also underperformed the market in past one year, falling 9.72% as against Sensexs 15.73% rise.

The mid-cap company has equity capital of Rs 483.44 crore. Face value per share is Rs 10.

According to reports, APM Terminals, the controlling shareholder, manager and operator of Gujarat Pipavav Ports (GPPL), is looking to exit its 12-year flagship investment as it no longer fits in with its core global business strategy. It has mandated HSBC to run a formal sale process and find a new buyer.

Global and local rivals and infrastructure-focused conglomerates such as JSW Group, Adani Ports and Dubais DP World are believed to have been approached, and initial diligence has begun, reports added.

Netherlands-headquartered APM Terminals is the independent ports and terminals arm of Danish maritime giant A.P. Moller-Maersk Group. It owns 43.01% of GPPL (as on 31 March 2017). As per rules, the buyer will also need to make a mandatory open offer to minority shareholders for an additional 26%.

Net profit of Gujarat Pipavav Port rose 28.12% to Rs 66.20 on 5.85% rise in net sales to Rs 156.74 crore in Q4 March 2017 over Q4 March 2016.

Gujarat Pipavav Port is managed and operated by APM Terminals, the ports and terminals company of the maritime giant, the A.P. Moller-Maersk Group.

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Moodys: Asian Liquidity Stress Index improves to 25.2% in May from 25.4% in April
Jun 08,2017

Moodys Investors Service says that its Asian Liquidity Stress Index (Asian LSI) fell month-on-month to 25.2% in May 2017 from 25.4% in April.

The Asian LSI measures the percentage of high-yield companies with Moodys weakest speculative-grade liquidity score of SGL-4, when speculative-grade liquidity appears to improve for Asian high-yield issuers.

The 25.2% Asian LSI reading in May was the lowest since August 2015, but remains above the long-term average of 22.8%, highlighting that weak liquidity is still a concern for many companies in Asia, despite improvements over the last six months, says Brian Grieser, a Moodys Vice President and Senior Credit Officer.

Moodys report points out that the Chinese high-yield property sub-index fell to a record low in May 2017, registering 7.5% from 10.0% the month before; the lowest level since Moodys began tracking the sub-index in 2010.

The liquidity stress sub-index for North Asian high-yield companies dropped to 24.7% in May from 25.0% in April. Within this portfolio, the Chinese sub-index fell to 25.4% from 25.7%. By contrast, the Chinese high-yield industrials sub-index rose to 48.4% from 46.7%.

As for the South and Southeast Asian sub-index, the index was unchanged at 26.1% month-on-month. And, the Indonesian sub-index remained at 22.7% over the same period.

Moodys explains that the strong high-yield issuance in 2017 continued to support improved liquidity for Asian issuers, with issuance totaling $3.1 billion for the month, bringing year-to-date issuance to $16.2 billion. The year-to-date issuance is already above the full-year issuance of $11.4 billion recorded in 2016.

Roughly two-thirds of the bond proceeds between January and May 2017 have been used for refinancing upcoming maturities.

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