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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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Oriental Hotels to hold AGM
May 16,2017

Oriental Hotels announced that the 47th Annual General Meeting (AGM) of the company will be held on 25 July 2017.

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Adani Power spurts on report Mundra plant gets CERC relief
May 16,2017

Meanwhile, the S&P BSE Sensex was up 119.48 points, or 0.39% to 30,441.60.

On the BSE, 34.68 lakh shares were traded in the counter so far, compared with average daily volumes of 18.31 lakh shares in the past one quarter. The stock had hit a high of Rs 33.70 and a low of Rs 30.50 so far during the day. The stock hit a 52-week high of Rs 46.30 on 11 April 2017. The stock hit a 52-week low of Rs 23.35 on 9 November 2016.

The stock had underperformed the market over the past one month till 15 May 2017, falling 7.76% compared with 2.92% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 16.07% as against Sensexs 7% rise.

The large-cap company has equity capital of Rs 3856.94 crore. Face value per share is Rs 10.

According to reports, the Central Electricity Regulatory Authority (CERC) has granted Adani Power full compensation for the rise in the cost of electricity generation at its 4,620-megawatts (MW) thermal power plant at Mundra, Gujarat due to increased domestic levies on imported coal.

The regulators decision comes after the Supreme Court ruling on 11 April 2017 that said power firms cannot get relief for any adverse fallout from policy changes effected by a foreign government, but expanded the scope of reliefs under the n++change in lawn++ provision in the domestic context.

The Supreme Court (SC) on 11 April 2017, set aside an earlier Appellate Tribunal for Electricity (Aptel) ruling that allowed Tata Power and Adani Power to charge compensatory tariff from consumers. A bench comprising justices Pinaki Chandra Ghose and Rohinton F. Nariman ruled in a batch of appeals filed against an April 2016 ruling of Appellate Tribunal for Electricity (Aptel) which held that an unforeseen increase in the cost of coal would be a n++force majeure eventn++ under the power purchase agreements (PPAs) between power generating companies and distributors. Supreme Court (SC) said higher tariffs could be allowed only if there was a change in Indian laws.

Tata Powers wholly-owned subsidiary Coastal Gujarat Power (CGPL) and Adani Powers Mundra project in Gujarat have PPAs with state discoms in Rajasthan, Gujarat, Haryana and Punjab. Both generating plants are fueled by coal imported from Indonesia.

On a consolidated basis, Adani Power reported net loss of Rs 323.61 crore in Q3 December 2016, compared with the net profit of Rs 109.49 crore in Q3 December 2015. Net sales declined 6.15% to Rs 5803.52 crore in Q3 December 2016 over Q3 December 2015.

Adani Power is the largest private thermal power producer in India with an installed capacity of 10,480 MW.

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Prompt disposal of grievances by Government: Dr Jitendra Singh
May 16,2017

The Union Minister of State (Independent Charge) for Development of North Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr Jitendra Singh has said that grievances filed by the public with the Government increased five times during the present Government. While the number of grievances has increased almost five times, Dr Jitendra Singh said, this was possible mainly because of the prompt disposal of complaints in a time-bound manner, which encouraged larger and larger sections of population to come forward and file their complaints. Now people feel motivated to file a complaint, he added.

Dr Jitendra Singh cited figures to state that before the present government came in, the total number of grievances or complaints filed in the grievance cell in the DARPG was hardly about two lakhs annually, which showed a steep and progressive rise in the last three years. In 2013, from 1st January to 31st December the total number of grievances filed was 2,09,297 but in 2014 after the present Government took over on 26th May, the seven months period also made a difference and the total number of grievances registered was 2,70,413. In 2015, the number further increased to 8,79,230, in 2016 it went up to 11,94,931 and in the current year 2017, from 1st January to 15th May we have already received 5,49,761 grievance complaints, which means that by the end of this year, this figure may go up beyond around 12 lakhs.

Similarly, on the other hand, Dr Jitendra Singh claimed that in 2013, the average time taken for the disposal of any grievance was 220 days, which has been remarkably reduced to just 24 days in the current year.

Dr Jitendra Singh said, a number of innovative steps in the last two to three years also helped in making the Grievance Cell proactive. For example, now we have a round-the-clock portal and the facility is also available on mobile app so that a citizen is in a position to file complaint any time from anywhere. In addition, he said, a Twitter Sewa is also available for the purpose. Referring to a unique experiment started by him, Dr Jitendra Singh said, in the last one year, he started the practice of randomly calling up some of the complainants in order to assess the level of satisfaction and also to seek their inputs and suggestions. He said, the response to this exercise has been unique and citizens have showered compliments through social media and other means.

Dr Jitendra Singh also read out the names and telephone numbers of some of the complainants who he has been speaking from time to time at random and also gave the contact details of two of such complainants whom he had spoken this morning, one of the them being from Telangana and the other from Punjab.

Dr Jitendra Singh appealed to the media to help in educating the masses to understand that grievance disposal does not necessarily mean fulfillment of individual aspiration or wish. For example, he said, if a citizen files a complaint claiming that he is more deserving to get a departmental promotion than his other colleagues, the grievance disposal cell will provide him with the response from the respective department within stipulated timeframe, but that does not mean that grievance cell gets him the promotion if the concerned department denies him so on its own considerations.

He also appealed to the State Governments to activate their respective grievance cells and expressed disappointment that in certain States, the grievance cell was dormant or was never even attended appropriately.

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Cipla gets reaffirmation in credit ratings for short term bank facilities
May 16,2017

Cipla announced that Credit Analysis and Research (CARE) has reaffirmed a CARE A1+ rating to the various existing short-term bank facilities. The Company is not availing long-term bank facilities and accordingly the rating for long-term bank facilities has been withdrawn.

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Avanti Feeds rallies 30.45% in two sessions
May 16,2017

Meanwhile, the S&P BSE Sensex was up 96.96 points or 0.32% at 30,419.08. The BSE Small-Cap index was up 31.83 points or 0.2% at 15,682.20.

On the BSE, 49,000 shares were traded on the counter so far as against the average daily volumes of 13,958 shares in the past one quarter. The stock had hit a high of Rs 1,220 so far during the day, which is a record high. The stock hit a low of Rs 1,125 so far during the day.

The stock had hit a 52-week low of Rs 411 on 9 November 2016. It had outperformed the market over the past one month till 15 May 2017, advancing 23.76% compared with the Sensexs 2.92% rise. The scrip had also outperformed the market over the past one quarter, gaining 84.39% as against the Sensexs 7.69% rise.

The mid-cap company has equity capital of Rs 9.08 crore. Face value per share is Rs 2.

Shares of Avanti Feeds have rallied 30.45% in two trading sessions from its closing of Rs 898.30 on 12 May 2017 after the company announced strong Q4 March 2017 earnings on Saturday, 13 May 2017. The stock spurted by the maximum permissible level of 20% to settle at Rs 1,077.95 yesterday, 15 May 2017.

On consolidated basis, Avanti Feeds net profit surged 168.6% to Rs 83.88 crore on 50.8% increase in net sales to Rs 699.30 crore in Q4 March 2017 over Q4 March 2016.

The companys consolidated net profit rose 36.1% to Rs 214.35 crore on 35.4% increase in net sales to Rs 2701.98 crore in the year ended March 2017 over the year ended March 2016.

Avanti Feeds is the leading manufacturer of prawn and fish feeds and shrimp processor and exporter from India.

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Delta Corp announces closure of QIP issue
May 16,2017

The QIP Committee meeting of Board of Directors of Delta Corp at its meeting held on 16 May 2017 passed the following resolutions -

Approved and declared the closure of QIP on 16 May 2017.

Determined and approved the issue price of Rs 155 per equity share, including a premium of Rs 154 per equity share against the floor price of Rs 162.78 with a discount of Rs 7.78 which was determined as per the formula prescribed under Regulations of SEBI Regulations for issuance of 3,54,83,874 equity shares, to be allotted to eligible qualified institutions buyers in the QIP;

Approved and adopted the placement document dated 16 May 2017, in connected with the QIP (the placement document).

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Board of Jindal Leasefin approves change in directorate
May 16,2017

Jindal Leasefin announced that the Board of Directors of the Company at its meeting held on 12 May 2017 has accepted the resignation of Surendra Kumar Jindal, and appointed Nishant Garg as Additional Director .

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Brigade Enterprises leases office space to TCS
May 16,2017

Tata Consultancy Services has signed a deal for office space in Brigade Bhuwalka Icon, a 3.75 lakh sq. ft development strategically located on Whitefield main road. The office space will house more than 4,000 IT professionals and the office is expected to start operations in around 4 months.

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Future Lifestyle Fashions hits record high after strong Q4 earnings
May 16,2017

The result was announced after market hours yesterday, 15 May 2017.

Meanwhile, the S&P BSE Sensex was up 123.51 points, or 0.41% at 30,445.63. The S&P BSE Mid-cap index was up 1.89 points, 0.01% at 15,042.36.

On the BSE, 1.39 lakh shares were traded on the counter so far as against the average daily volumes of 1.26 lakh shares in the past one quarter. The stock had hit a high of Rs 321.25 so far during the day, which is also its record high. The stock hit a low of Rs 291 so far during the day.

The stock had hit a 52-week low of Rs 103 on 16 May 2016. The stock had underperformed the market over the past one month till 15 May 2017, advancing 2.47% compared with the Sensexs 2.92% rise. The scrip had, however, outperformed the market over the past one quarter advancing 53.89% as against the Sensexs 7.69% rise.

The mid-cap company has equity capital of Rs 38.03 crore. Face value per share is Rs 2.

Future Lifestyle Fashions earnings before interest, tax, depreciation and amortization (EBITDA) increased by 10.23% to Rs 97 crore in Q4 March 2017 over Q4 March 2016.

EBITDA margin decreased to 9.8% in Q4 March 2017, from 10.3% in Q4 March 2016.

Future Lifestyle Fashions is engaged in the business of fashion. The company offers textiles, wearing apparel, shoes, jewelry, furniture and other fashion goods/accessories.

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Vaibhav Global hits 52-week high
May 16,2017

The result was announced after market hours yesterday, 15 May 2017.

Meanwhile, the S&P BSE Sensex was up 109.80 points or 0.36% at 30,431.92. The BSE Small-Cap index was up 33.91 points or 0.22% at 15,684.28.

On the BSE, 4,047 shares were traded on the counter so far as against the average daily volumes of 2,749 shares in the past one quarter. The stock had hit a high of Rs 512.15 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 501 so far during the day.

The stock had hit a 52-week low of Rs 236 on 23 May 2016. It had outperformed the market over the past one month till 15 May 2017, advancing 14.78% compared with the Sensexs 2.92% rise. The scrip had also outperformed the market over the past one quarter, gaining 17.16% as against the Sensexs 7.69% rise.

The small-cap company has equity capital of Rs 32.55 crore. Face value per share is Rs 10.

Vaibhav Global is an electronic retailer of discount fashion jewelry and lifestyle accessories.

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Indo Count Industries increases capacity
May 16,2017

Indo Count Industries announced that the capacity of the Company has increased from 68 million meters to 90 million meters.

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Bright day for precious metals
May 16,2017

Bullion prices ended higher at Comex on Monday, 15 May 2017. Gold settled at a nearly two-week high on Monday after more show of nuclear strength from North Korea finding traction after weekend comments from China about a boost in infrastructure projects.

Gold for June rose by $2.30, or 0.2%, to settle at $1,230 an ounce. That was the highest finish since 3 May 2017.

July silver rose 20.1 cents or 1.2%, to $16.603 an ounce.

North Korea said Monday it had successfully conducted a newly developed mid- to long-range missile test on Sunday aimed at verifying the capability to carry a n++large scale heavy nuclear warhead,n++.

Gold was also supported as the ICE U.S. Dollar Index which measures the greenbacks value versus euro, yen and four other major currencies, was down 0.3%.

Gold is highly sensitive to rising rates, which increases the opportunity cost of holding assets such as bullion, which dont bear a yield, while boosting the dollar, in which it is priced.

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Shreyans Industries to pay dividend
May 16,2017

Shreyans Industries announced that dividend, if declared, shall be paid on or after 12 September 2017.

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Glenmark Pharmaceuticals to initiate clinical study of GBR 1342
May 16,2017

Glenmark Pharmaceuticals announced that the USFDA cleared the companys Investigational New Drug (IND) application to initiate a Phase 1 study of GBR 1342, a humanized, bispecific monoclonal antibody (bsAb)being studied for the treatment of multiple myeloma in patients who have received prior therapies. GBR 1342 is designed to activate the patients immune system by redirecting immune cells towards tumor tissue, whichmay lead to targeted destruction of tumors. It is based on Glenmarks proprietary BEATn++ (Bispecific Engagement by Antibodies based on the T cell receptor) technology platform.

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Jain Irrigation Systems completes acquisition of US based micro irrigation dealers
May 16,2017

Jain Irrigation Systems through its multi generation wholly owned in the United States of America has completed the acquisition of 80% stake in two of the United States largest micro-irrigation dealers - Agri Valley Irrigation, LLC and Irrigation Design and Construction, LLC.

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