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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&K Bank corrects on profit booking
Oct 06,2016

Meanwhile, the BSE Sensex was down 74.81 points, or 0.27%, to 28,146.17.

On BSE, so far 1.70 lakh shares were traded in the counter, compared with average daily volume of 3.57 lakh shares in the past one quarter. The stock hit a high of Rs 91 and a low of Rs 86.05 so far during the day. The stock hit a 52-week high of Rs 92.50 on 16 October 2015. The stock hit a 52-week low of Rs 56.45 on 3 June 2016. The stock had outperformed the market over the past 30 days till 5 October 2016, rising 28.35% compared with 2.61% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 29.18% as against Sensexs 3.75% rise.

The mid-cap company has equity capital of Rs 48.48 crore. Face value per share is Re 1.

Shares of Jammu & Kashmir Bank (J&K Bank) rose 18.04% in four trading sessions to settle at Rs 89.65 yesterday, 5 October 2016, from its close of Rs 75.95 on 29 September 2016.

Net profit of Jammu and Kashmir Bank declined 85.59% to Rs 22.88 crore on 5.3% decline in operating income to Rs 1789.05 crore in Q1 June 2016 over Q1 June 2015.

J&K Bank is the only bank in the country with majority ownership vested with a state government. The J&K state government holds 53.17% stake in the bank as at 31 December 2015.

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Heritage Infrastructure projects worth Rs. 350 cr approved, says Shri M. Venkaiah Naidu
Oct 06,2016

Shri M.Venkaiah Naidu, Minister of Urban Development inaugurated a two day conference on Heritage Cities here today. The conference is being jointly organised by Ministry of Urban Development and Indian Heritage Cities Network (IHCN).

In his inaugural address, Shri M.Venkaiah Naidu said that India is blessed with tangible and intangible heritage assets and it consists of 32 World Heritage Sites, both cultural and natural, recognized by UNESCO. He said that India ranks 5th in the world and 2nd in Asia, in terms of number of World Heritage Sites. The Minister highlighted the importance of heritage sites for tourism. He said that India attracts millions of tourist every year and in 2013, India received 69 lakh foreign tourists and 114 crore domestic tourist visits, generating revenue of Rs. 2 lakh crore. i.e. 6.6 % of GDP. Shri M.Venkaiah Naidu pointed out that the heritage management has often been carried out in isolation, with no linkages to the urban planning process.

The Minister further said that HRIDAY (Heritage City Development and Augmentation Yojana) scheme was launched by the Government in 2014 for heritage/ tourism oriented urban development. He said that, the scheme is 100% centrally sponsored with an outlay of Rs 500 crores and in the pilot phase, 12 cities have been selected. He highlighted that there is need for convergence of schemes like Smart City, AMRUT and other state Government schemes to reinforce the cultural and Heritage India. Projects worth about Rs. 350 cr have so far been approved for implementation.

Shri M.Venkaiah Naidu said that France had expressed interest to intervene on the subject of heritage and urban renewal heritage around waterfronts and accordingly two cities, namely Puri and Varanasi, have identified the projects relating to waterfront development.

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RBL Bank gains on reports foreign brokerage initiates coverage with buy
Oct 06,2016

Meanwhile, the S&P BSE Sensex was down 123.96 points or 0.44% at 28,097.02.

On BSE, so far 2.13 lakh shares were traded in the counter as against average daily volume of 2.28 lakh shares in the past two weeks. The stock hit a high of Rs 303.30 and a low of Rs 296.05 so far during the day. The stock had hit a record high of Rs 316.80 on 1 September 2016. The stock had hit a record low of Rs 273.70 on 31 August 2016.

The large-cap bank has equity capital of Rs 369.81 crore. Face value per share is Rs 10.

The brokerage reportedly said that RBL Bank is ready for a take-off in growth. The brokerage expects more than 35% compound annual growth rate (CAGR) loan growth for the bank in next 3 years.

RBL Bank debuted on stock exchanges on 31 August 2016.

RBL Banks net profit rose 41.17% to Rs 292.49 crore on 36.46% growth in net total income to Rs 1309.75 crore in the year ended 31 March 2016 (FY 2016) over the year ended 31 March 2015 (FY 2015).

RBL Bank is professionally managed and has no identifiable promoter. As on 31 March 2016, the bank had 197 interconnected branches and 362 interconnected ATMs spread across 16 Indian states and union territories serving approximately 1.90 million customers.

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RCI Industries & Technologies to hold board meeting
Oct 06,2016

RCI Industries & Technologies will hold a meeting of the Board of Directors of the Company on 6 October 2016.

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Kilburn Chemicals to hold board meeting
Oct 06,2016

Kilburn Chemicals will hold a meeting of the Board of Directors of the Company on 5 November 2016 to consider the Unaudited Financial Results of the Company for the quarter ended September 30, 2016.

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Cairn India to hold board meeting
Oct 06,2016

Cairn India will hold a meeting of the Board of Directors of the Company on 21 October 2016 to consider the unaudited financial results of the Company for the quarter and half-year ended September 30, 2016.

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ACC to hold board meeting
Oct 06,2016

ACC will hold a meeting of the Board of Directors of the Company on 21 October 2016 to consider and take on record the unaudited financial results for the quarter July 01, 2016 - September 30, 2016 (Q3) and in respect of the nine months ended January 01, 2016 - September 30, 2016.

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Tayo Rolls to hold board meeting
Oct 06,2016

Tayo Rolls will hold a meeting of the Board of Directors of the Company on 19 October 2016 to and approve inter-alia the unaudited financial results of the Company for the second quarter and six months ended September 30, 2016.

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LIC Housing Finance to hold board meeting
Oct 06,2016

LIC Housing Finance will hold a meeting of the Board of Directors of the Company on 20 October 2016 to consider Un-audited Financial Results for the Second Quarter ended September 30, 2016 (Q2).

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Kome-On Communication to hold board meeting
Oct 06,2016

Kome-On Communication will hold a meeting of the Board of Directors of the Company on 17 October 2016 to consider the Un-Audited Financial results for the quarter and half year ended on September 30. 2016.

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ONGC gains after ONGC Videsh gets approval to buy stake in JSC Vankorneft
Oct 06,2016

Meanwhile, the BSE Sensex was down 102.93 points, or 0.36%, to 28,118.05.

On BSE, so far 3.87 lakh shares were traded in the counter, compared with average daily volume of 7.65 lakh shares in the past one quarter. The stock hit a high of Rs 273.25 and a low of Rs 267.30 so far during the day. The stock hit a 52-week high of Rs 275.25 on 5 October 2016. The stock hit a 52-week low of Rs 188 on 12 February 2016. The stock had outperformed the market over the past 30 days till 5 October 2016, rising 11.56% compared with 2.61% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 17.69% as against Sensexs 3.75% rise.

The large-cap company has equity capital of Rs 4,277.75 crore. Face value per share is Rs 5.

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi, yesterday, 5 October 2016 gave its approval to an acquisition by ONGC Videsh (OVL) for 11% stake in JSC Vankorneft from Rosneft Oil Company (Rosneft), the National Oil Company (NOC) of Russian Federation (Russia). Rosneft operates Vankor fields, with Vankorneft, its wholly owned subsidiary. OVL will be paying an amount of $930 million for acquiring 11% stake in Vankorneft. OVL is an investment arm of ONGC.

The acquisition of stake in Vankorneft will provide 3.2 million metric ton of oil equivalent (MMTOE) to OVL by 2017. It will also provide an opportunity to Indian public sector oil and gas companies to acquire new technologies from Rosneft. The acquisition is in line the ONGCs stated objective of adding high quality international assets to Indias Exploration and Production (E&P) portfolio and thereby augmenting Indias energy security.

ONGCs net profit declined 21.2% to Rs 4232.54 crore on 21.5% decline in net sales to Rs 17670.37 crore in Q1 June 2016 over Q1 June 2015.

ONGC is Indias largest oil and gas exploration firm by sales.

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ADB to Provide India $500 Million for Solar Rooftop Systems
Oct 06,2016

The Asian Development Bank (ADB) is set to provide $500 million in financing for rooftop solar systems that will help the Indian government expand energy access using renewable energy.

ADB will provide the financing to Punjab National Bank - one of Indias largest commercial banks - which will use the ADB funds to make loans to various developers and end users throughout India to install rooftop solar systems.

There is huge potential for India to expand its use of solar rooftop technologies because of the sharp drop in the price of solar panels, Jawaharlal Nehru National Solar Mission to increase its overall solar energy generation to 100 gigawatts by the same date.

Indias Intended Nationally Determined Contribution, or the carbon emission reduction target under the 2015 Paris climate agreement, is to lower the emissions intensity of the Indian economy by 33% from 2005 levels and to increase the share of non-fossil-fuel-based power generation capacity to 40% of installed power capacity by 2030. India formally ratified the Paris climate agreement yesterday.

To support efforts by India and other Asian developing member countries to meet their targets, ADB has also committed to doubling its annual financing for climate mitigation and adaptation to $6 billion by 2020.

The solar rooftop market is still at an early stage of development in India and awareness of the latest technologies and the financial benefits is low. Banks see lending to such projects as risky, in part because they have limited past experiences. In this context, an additional $5 million technical assistance from the multi-donor Clean Technology Fund, administered by ADB, will be used to provide training, promote market development, and raise market awareness. meaning the cost of producing solar energy is at or close to that from fossil fuels, said Anqian Huang, finance specialist in ADBs South Asia Department. Sourcing more solar energy will also help India meet the carbon emissions reduction target that it has committed to as part of the recent global climate change agreement.The financing comprises $330 million from ADB and $170 million from the multi-donor Clean Technology Fund administered by ADB. This funding should mean that 11 million fewer tons of greenhouse gases are emitted over the typical 25-year lifetime of solar rooftop systems.Combined with an additional $300 million in subproject equity investment and $200 million in loans from commercial banks and other financiers, the entire cost of the Solar Rooftop Investment Program is $1 billion. The Government of India aims to increase the amount of energy sourced from solar rooftop systems to 40 gigawatts by 2022. This is part of a wider goal under the

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Ruchi Soya jumps on palm oil pact with Arunachal Pradesh govt
Oct 06,2016

The announcement was made during market hours today, 6 October 2016.

Meanwhile, the S&P BSE Sensex was down 40.50 points or 0.14% at 28,180.48.

On BSE, so far 3.48 lakh shares were traded in the counter as against average daily volume of 1.07 lakh shares in the past one quarter. The stock hit a high of Rs 24.55 and a low of Rs 22 so far during the day. The stock had hit a 52-week high of Rs 34.50 on 9 October 2015. The stock had hit a 52-week low of Rs 17.75 on 25 May 2016. The stock had outperformed the market over the past one month till 5 October 2016, advancing 8.4% compared with 1.09% fall in the Sensex. The scrip had, however, underperformed the market in past one quarter, sliding 2.01% as against Sensexs 3.88% rise.

The small-cap company has equity capital of Rs 66.82 crore. Face value per share is Rs 2.

Ruchi Soya Industries recently signed a memorandum of understanding (MOU) with the Arunachal Pradesh state government to boost palm oil production through development of quality palm plantations and human capacity building. With this agreement, Ruchi Soya now has obtained permission for oil palm development in 45,000 hectares, covering five districts in Arunachal Pradesh.

Ruchi Soya Industries net profit fell 98.8% to Rs 1.03 crore on 12.9% decline in net sales to Rs 4951.99 crore in Q1 June 2016 over Q1 June 2015.

Ruchi Soya is one of Indias leading cooking oil and soy food maker and marketer.

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Volumes jump at D B Corp counter
Oct 06,2016

D B Corp clocked volume of 5.94 lakh shares by 13:05 IST on BSE, a 398.40-times surge over two-week average daily volume of 1,490 shares. The stock fell 0.67% to Rs 393.05.

D B Realty notched up volume of 17.74 lakh shares, a 16.47-fold surge over two-week average daily volume of 1.08 shares. The stock rose 6.51% to Rs 49.90.

Kanoria Chemicals & Industries saw volume of 9.37 lakh shares, a 10.96-fold surge over two-week average daily volume of 86,000 shares. The stock rose 12.76% to Rs 90.15.

Coromandel International clocked volume of 5.95 lakh shares, a 9.17-fold surge over two-week average daily volume of 65,000 shares. The stock rose 2.98% to Rs 262.50.

Mercator saw volume of 23.69 lakh shares, a 6.75-fold rise over two-week average daily volume of 3.51 lakh shares. The stock rose 2.95% to Rs 50.55.

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Three agreements between India and Switzerland
Oct 06,2016

The Union Home Minister Shri Rajnath Singh met the visiting Minister for Justice and Police of Swiss Confederation, Ms. Simonetta Sommaruga. Shri Rajnath Singh stated that the two countries have made significant contributions to strengthen peace and prosperity based on their shared vision of a peaceful and progressive future.

The Union Home Minister proposed training facilities for Indian Police Officers in Switzerland Police Academies/other Training Institutes in the fields of Anti-Hijacking and Cyber Forensic etc. Shri Rajnath Singh said India looks forward for cooperation with Switzerland on the issue of exchange of tax information since the black money issue is the main corruption issue which needs to be tackled.

On the occasion, the two sides signed three agreements including Mutual Visa Exemption Agreement for Holders of Diplomatic Passports, Technical Arrangements on Identification and Return of Illegal Migrants and Arrangement for Dependent Person of Diplomatic, Consular, Technical and Administrative Staff of Diplomatic and Consular Mission to Perform Gainful Employment.

Shri Rajnath Singh also sought a more liberal visa regime for Indian business people since India has been offering multi-year multiple entry visas to Swiss businesses in a bid to enhance bilateral trade and investment.

Other subjects of interest to the two countries were also discussed. These included cooperation in transfer of sentenced persons and Mutual Legal Assistance Treaty in Criminal matters that would help in combating terrorism, transnational organized crimes and corruption including money laundering.

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