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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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Government approves further import of 80,000 Masur and 90,000 Tur
Sep 29,2016

The Government has approved further import of 80,000 MT Masur and 90,000MT Tur for buffer stock of pulses. The decision to this effect was taken in a meeting of Price Stabilization Fund chaired by Union Consumer Affairs Secretary, Shri Hem Pande here today. The meeting reviewed the procurement and distribution of pulses from buffer stock.

So far, the Government agencies have contracted about 1, 81,000 MT pulses for import , out of this 36,000 MT pulses have arrived. Besides this Government agencies have procured more than 1, 20,000 MT pulses from the domestic market and farmers.

The Department of Consumer Affairs has asked NCCF and NAFED to sell the the pulses, Tur and Urad through their outlets in other cities also other than Delhi. These agencies are selling Tur at Rs 105 / and Urad Rs. 120/kg.

The meeting was informed that to ensure procurement of pulses directly from farmers during current Kharif season, number of procurement centres has been increased to 417 so far, more will be opened if required.

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Sunil Hitech Engineers recognised for its contribution to Infra sector
Sep 29,2016

Sunil Hitech Engineers has been awarded a certificate of recognition for the immense contribution to the Infrastructure sector at Best Infrastructure Brands 2016 function held in Delhi on 27 September 2016.

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Alkem Laboratories provides update on USFDA inspection of its Daman facility
Sep 29,2016

Alkem Laboratories announced that US FDA had conducted an inspection at the Companys manufacturing facility located at Daman, India from 20 September to 29 September 2016.

In this regard, the Company has received the inspection report which contains thirteen 483 observations. The Company shall put together a detailed response with adequate corrective and preventive measures to address the US FDA Observations and the same is proposed to be filed within the timeline stipulated by US FDA.

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Speciality Restaurants gets reaffirmation in credit ratings
Sep 29,2016

Speciality Restaurants announced that ICRA has re-affirmed the long-term rating of ICRA A+ and short-term rating of ICRA A1 ratings assigned to the Rs. 100 crore Line of Credit of the Company and the outlook on the long-term rating is Stable.

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Rathi Graphic Technologies divests stake held in RGTL Industries
Sep 29,2016

Rathi Graphic Technologies announced that the Company has divested 10 lakh equity shares of RGTL Industries, thus bringing down the shareholding of Rathi Graphic Technologies in its subsidiary from 54.58% to 49.18%. The transacted has resulted in cessation of holding-subsidiary relationship.

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MSR India starts commercial production of food product from Unit II factory
Sep 29,2016

MSR India announced that the Company has started the Commercial production of all its Foods Products from Unit - II factory situated at Bowrampet. The Production of these food Products would boost the Company revenue. The Company would reduce the trading activity and would focus more on its manufacturing process

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Asahi India Glass subscribes to rights issue of unlisted subsidiary
Sep 29,2016

Asahi India Glass has increased stake in its unlisted subsidiary, GX Glass Sales & Services, from 84.79% to 93.48% after allotment of shares under a Rights Issue.

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Board of Electrosteel Steels approves change in directorate
Sep 29,2016

Electrosteel Steels announced that the Board of Directors of the Company at its meeting held on 29 September 2016 has approved the appointment of Pradeep Kumar Mishra as an Additional Director and Chairman of the Board with effect from 29 September 2016. The Board also noted the resignation of Rishu Kumar, Independent Director vide letter dated 27 September 2016.

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Shipping Corporation of India incorporates a subsidiary
Sep 29,2016

Shipping Corporation of India announced that the Wholly Owned Subsidiary of SCI viz. INLAND & COASTAL SHIPPING has been incorporated on 29 September 2016.

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NHPC signs PPA for a 50 MW project
Sep 29,2016

NHPC announced that a wind power purchase agreement (PPA) has been signed amongst Rajasthan Government, NHPC and Inox on 28 September 2016 for 50 MW wind power project in Jaisalmer, Rajasthan. As per the PPA, Rajasthan Government will purchase the power generated from the project.

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Rashtriya Chemicals & Fertilizers issue Commercial Paper aggregating Rs 200 crore
Sep 29,2016

Rashtriya Chemicals & Fertilizers announced that in terms of the guidelines issued by the Reserve Bank of India, the Company has issued Commercial Paper for Rs.200 crore on 29 September 2016, in favour of HDFC Bank, having maturity date as 01 October 2016.

Further inform that the Commercial Paper issued on 29 July 2016, for Rs. 150 crore, has been redeemed 29 September 2016.

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Outcome of board meeting of Melstar Information Technologies
Sep 29,2016

Melstar Information Technologies announced that the Board of Directors of the Company at its meeting held on 29 September 2016 approved the following -

Divestment and sale of 4.86 lakh equity shares of Rs 10 each held in IDV Technology Solutions. With this sale, the Companys holding stands reduced to 1.14 lakh equity shares of Rs 10 each representing 19% stake holding. Consequently, the said company ceased to be subsidiary of the Company.

The Board also approved the sale of office premises situated at 335, Connection Point A - Block Mezzanine Floor, HAL Airport Exit road, Bangalore.

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EESL assures of high quality LED Street Lights conforming to BIS standards
Sep 29,2016

Energy Efficiency Services Limited (EESL) strongly refutes all claims of having installed faulty LED street lights in their project in the South Delhi Municipal Corporation (SDMC) area.

Under the Government of Indias Street Lighting National Programme (SLNP) over 1.98 lakh conventional street lights have been replaced with LED street lights in Delhi. A social audit of about 4,500 people was conducted by Price Waterhouse Coopers (PwC) in SDMC area in May 2016. The audit shows that at an average 99.5% people feel that the LED street lights have contributed in enhancing the security of the vulnerable groups during nights. About 99.75% of the people responded that the intensity & the brightness of the LED street lights is better than the earlier street lights.

EESL procurements conform to BIS specification & carry a 7-year warranty against technical defects. EESL conducts appropriate quality checks right from the bidding stage to the field level. This has resulted in the LEDs overall technical fault being less than 2% in the 14 lakh lights installed by EESL in the country. As per the contract, EESL is required to maintain an uptime of 95%, which in the present case is more than 97%. This is one of the highest in the country.

EESL is also taking proactive measures for grievance redressal, such as use of social media platforms, BSES toll free helpline, email complaint system and use of mobile vans for night patrolling. EESL is installing Centralized Control and Monitoring System (CCMS) at a fast pace to enable remote operation and monitoring of the street lights across the Nation.

For complaints against non-functioning LED street lamps the consumers can send a message via WhatsApp on 7827999222 or they can send their complaints to info@eesl.co.in. Alternatively, complaints are also being recorded on the EESL social media handles. Strict action against erring vendors is being taken by EESL.

All complaints are redressed in a period of 48-72 hours and for that EESL has deployed its own staff as well as other Project Management Companies. EESL has received just 14,850 complaints in the last two months out of 1.98 lakh streets that have been installed. EESL has already resolved over 12,406 complaints in entire SDMC area.

To address all grievances, EESL has doubled its on-field teams which are deployed for maintenance. There are regular weekly meetings and reviews with SDMC to rectify the problems faced on field which are not covered in the MoU signed by the tri-parties.

EESL has guaranteed reduction in energy consumption by 53%. This project will result in annual reduction of 26.2 million kWh of energy during peak hours. SDMC will benefit by Rs. 41.47 crore over the said period without having to invest any capital upfront.

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Rupee hardly hit
Sep 29,2016

Rupee was hardly hit after a Government release stated it had on Wednesday late evening launched strike against the militants in the Pakistan occupied Kashmir.

Rupee closed lower at 66.8350/8650 per dollar against its previous close of 66.4650/4750 per dollar.

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Unno Industries to hold AGM
Sep 29,2016

Unno Industries announced that the 24th Annual General Meeting(AGM) of the company on 30 September 2016.

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