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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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Hindalco Industries allots equity shares
Dec 07,2016

Hindalco Industries announced that the Committee of Directors vide their resolution passed on 06 December 2016 has allotted 147958 equity shares of face value of Re. 1/- each to the optionees as detailed in the resolution, pursuant to the exercise of the options granted to the employee under the Companys Employee Stock Option Scheme.

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COSYN incorporates subsidiary in US - Well to Desk
Dec 07,2016

COSYN announced that in continuation of the Companys plans to offer Cloud Based services to the Oil and Gas Industry vertical a new subsidiary in the name of WELL TO DESK has been incorporated in partnership with industry experts from USA in the State of Texas, USA with COSYN holding major stake.

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Board of State Bank of Travancore approves fund raising up to Rs 600 crore
Dec 07,2016

State Bank of Travancore announced that the Executive Committee of the Board of Directors of the Bank in its meeting held on 07 December 2016, has approved the raising of up to Rs. 600 crore by way of issue of Basel III compliant Additional Tier I Bonds by private placement.

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Dwarikesh Sugar Industries gets upgradation in credit ratings
Dec 07,2016

Dwarikesh Sugar Industries has upgraded the long term ratings for bank loans from ICRA BBB- to ICRA A-. The outlook on the long term rating has been revised to Stable from Positive.

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Emami gets ratings for commercial paper programme
Dec 07,2016

Emami has received from CRISIL a rating of A1+ for the Companys Rs 500 crore Commercial Paper programme.

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PTC India annnounces cessation of director
Dec 07,2016

PTC India announced that Ved Jain, Independent Director, has completed his tenure on 06 December 2016 and ceased to be a Director on the Board of the Company w.e.f. 07 December 2016.

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Board of Vishal Bearings to consider bonus issue
Dec 07,2016

Vishal Bearings announced that a meeting of the Board of Directors of the Company shall be held on 14 December 2016 has been postponed on 20 December 2016 to consider the following businesses:-

- To issue and allot bonus shares.

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Board of Usher Agro to consider allotment of shares under SDR scheme
Dec 07,2016

Usher Agro announced that a Meeting of the Board of Directors of the Company is scheduled to be held at Short Notice on 08 December 2016, inter alia, to consider and approve the allotment of equity shares to the lenders in pursuance of invocation of SDR Scheme.

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Auto stocks mixed after RBI keeps policy rates unchanged
Dec 07,2016

The monetary policy was announced by the RBI at 14:30 IST today, 7 December 2016.

Meanwhile, the S&P BSE Sensex was down 101.41 points or 0.38% at 26,291.35.

Ashok Leyland (down 1.73%), Maruti Suzuki India (down 0.86%), and Bajaj Auto (down 0.92%) declined. Mahindra & Mahindra (M&M) (up 0.81%), Eicher Motors (up 2.91%), Hero MotoCorp (up 0.51%), Tata Motors (up 0.43%) and TVS Motor Company (up 0.18%) gained.

Purchases of automobiles, including that of cars, utility vehicles and commercial vehicles are substantially driven by financing.

On the basis of an assessment of the current and evolving macroeconomic situation at its meeting today, 7 December 2016, the monetary policy committee (MPC) of the Reserve Bank of India (RBI) decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.25%.

Consequently, the reverse repo rate under the LAF remains unchanged at 5.75%, and the marginal standing facility (MSF) rate and the bank rate at 6.75%. The decision of the MPC is consistent with an accommodative stance of monetary policy in consonance with the objective of achieving consumer price index (CPI) inflation at 5% by Q4 March 2017 and the medium-term target of 4% within a band of +/- 2%, while supporting growth.

In the view of the committee, this bi-monthly review is set against the backdrop of heightened uncertainty. Globally, the imminent tightening of monetary policy in the US is triggering bouts of high volatility in financial markets, with the possibility of large spillovers that could have macroeconomic implications for EMEs.

In India, while supply disruptions in the backwash of currency replacement may drag down growth this year, it is important to analyse more information and experience before judging their full effects and their persistence - short-term developments that influence the outlook disproportionately warrant caution with respect to setting the monetary policy stance. If the impact is transient as widely expected, growth should rebound strongly.

Turning to inflation, food prices other than vegetables are exhibiting sustained firmness and a pick-up in momentum. Another disconcerting feature of recent developments is the downward inflexibility in inflation excluding food and fuel which could set a resistance level for future downward movements in the headline. Moreover, volatility in crude prices and the surge in financial market turbulence could put the inflation target for Q4 of 2016-17 at some risk.

Given these indicators of underlying inflation, it is appropriate to look through the transitory but unclear effects of the withdrawal of SBNs while setting the monetary policy stance. On balance, therefore, it is prudent to wait and watch how these factors play out and impinge upon the outlook. Accordingly, the policy repo rate has been kept on hold in this review, while retaining an accommodative policy stance, RBI said

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Bank stocks mixed as RBI keeps key policy rate steady
Dec 07,2016

Among public sector banks, Bank of Baroda (down 1.69%), Punjab National Bank (down 1.23%), Andhra Bank (down 1.16%), Bank of India (down 1.32%), State Bank of India (down 1.1%) and IDBI Bank (down 0.66%) edged lower. Corporation Bank (up 0.33%), Dena Bank (up 0.29%), Indian Bank (up 0.12%) and Vijaya Bank (up 0.34%) edged higher.

Among private sector banks, Axis Bank (down 1.3%), HDFC Bank (down 1.15%), IndusInd Bank (down 1.01%), Yes Bank (down 0.29%), Kotak Mahindra Bank (down 0.2%) edged lower. RBL Bank (up 0.19%) and Federal Bank (up 0.14%) edged higher.

Meanwhile, the S&P BSE Sensex was down 156.91 points or 0.59% at 26,235.85.

ICICI Bank was down 1.42%. The bank announced after market hours yesterday, 6 December 2016, that the committee of executive directors of the bank is scheduled to have a meeting on 9 December 2016, to consider fund raising in single/multiple tranches in any currency through public/private placement by way of issuances of debt instruments etc. for the remaining period of the financial year ending 31 March 2017 (FY 2017).

On the basis of an assessment of the current and evolving macroeconomic situation at its meeting today, 7 December 2016, the Monetary Policy Committee (MPC) decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.25%. Consequently, the reverse repo rate under the LAF remains unchanged at 5.75%, and the marginal standing facility (MSF) rate and the bank rate at 6.75%.

The decision of the MPC is consistent with an accommodative stance of monetary policy in consonance with the objective of achieving consumer price index (CPI) inflation at 5% by Q4 March 2017 and the medium-term target of 4% within a band of plus or minus 2%, while supporting growth.

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RBI maintains status quo-Fifth Bi-monthly Monetary Policy Statement, 2016-17
Dec 07,2016

The Monetary Policy Committee (MPC), Reserve Bank of India in its Fifth Bi-Monthly Monetary Policy Statement, 2016-17 kept the key policy rates unchanged after reducing the rates by 25 basis points (bps) in previous policy statements. The policy repo rate, at which it lends to the scheduled banks borrowing for the short liquidity gaps, under the liquidity adjustement facility (LAF) thus stands unchanged at 6.25%. The decision of the MPC is consistent with an accommodative stance of monetary policy in consonance with the objective of achieving consumer price index (CPI) inflation at 5% by Q4 of 2016-17 and the medium-term target of 4% within a band of +/- 2%, while supporting growth. Consequently, the reverse repo rate under the LAF remains unchanged at 5.75%, and the marginal standing facility (MSF) rate and the Bank Rate at 6.75%.

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NTPC provides operations update
Dec 07,2016

NTPC has successfully exposed coal in its first coal mine - Pakri Barwadih located in the state of Jharkhand after removal of overburden. Coal Production will begin shortly from this mine.

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L T Foods enters into JC with Future Consumer and Genoa
Dec 07,2016

L T Foods announced that the Company has entered into Joint Venture Agreement with Future Consumer and Genoa Rice Mills for undertaking the business of manufacturing, marketing, sales, sourcing and distribution of Sona Masoori/ regional South Indian rice as per the terms and conditions agreed under the said Joint Venture Agreement.

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Outcome of board meeting of Aroma Enterprises (India)
Dec 07,2016

Aroma Enterprises (India) announced that the Board of Directors of the Company at its meeting held on 07 December 2016 has decided to convene EGM on 05 January 2016 for purpose of approval of related party transactions by members.

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Sagar Cements allots equity shares on preferential basis
Dec 07,2016

Sagar Cements announced that the Securities Allotment Committee of our Board at its meeting held on 07 December 2016, has allotted, 6,11,986 equity shares of Rs.10/- each at an issue price of Rs.800/- per equity share on a preferential basis in accordance with the approval given by the shareholders at their meeting held on 23 November 2016.

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