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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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Shriram Transport Finance Company to consider fund raising options
Jan 02,2017

Shriram Transport Finance Company announced that the Company is considering raising of funds through various options of borrowings including by way of issue of securities in onshore/offshore market on private placement basis. Based on the market conditions the meeting(s) of Banking and Finance Committee/Debt Issuance Committee will be held during the current month ending 31 January 2017 to consider and approve the terms and conditions of such borrowings.

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Larsen & Toubro bags Smart City Project for Pune
Jan 02,2017

Larsen & Toubro has bagged a Smart City project as part of the Governments Smart City Mission by being identified as the Implementation Partner to convert Pune into a Smart City. The Letter of Intent was handed over by the Municiple Commissioner of Pune to L&T Constructions Smart World and Communications Unit, which will be executing the project.

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26.03 crore accounts opened as on 21 December, 2016 under PMJDY out of which 15.86 crore accounts are in rural areas and 10.17 crore in urban areas
Jan 02,2017

Year End Review- 2016 of Department of Financial Services, Ministry of Finance

I. Pradhan Mantri Jan Dhan Yojana (PMJDY)

 With a view to increasing banking penetration and promoting financial inclusion and with the main objective of covering all households with at least one bank account per household across the country, a National Mission on Financial Inclusion named as  Pradhan Mantri Jan Dhan Yojana (PMJDY) was announced by the Prime Minister Shri Narendra Modi in his Independence Day Speech on 15th August , 2014 . The Scheme was formally launched by the Prime Minister, Shri Narendra Modi on 28th August, 2014 at National level.

Objectives of PMJDY

(i)     Universal access to banking facilities for all households across the country through a bank branch or a fixed point Business Correspondent (BC) within a reasonable distance.

(ii)   To cover all households with atleast one Basic Bank  Account with RuPay Debit card having inbuilt accident insurance cover of Rs.1 lakh.

(iii) An overdraft facility upto Rs.5000/- after satisfactory operation in the account for 6 months.

(iv) A Life Cover of Rs.30,000/- to those beneficiaries who open their accounts for the first time from  15.08.2014 to 31.01.2015.

(v)   Financial literacy programme which aims to take financial literacy upto village level.

(vi) The Mission also envisages expansion of Direct Benefit Transfer under various Government Schemes through bank accounts of the beneficiaries.

(vii) Providing micro-insurance to the people.

(viii) Un=organised sector Pension schemes through the Business Correspondents.

  Achievements under PMJDY (as on 21st December,2016)

(i)     26.03 crore accounts have been opened under PMJDY out of which 15.86 crore accounts are in rural areas and 10.17 crore in urban areas. 

(ii)   Deposits of Rs. 71,557.90 crore has been mobilized.

(iii)  19.93 crore RuPay Debit cards have been issued under PMJDY.

(iv)  Aadhaar seeding in PMJDY accounts 14.43 crore

(v)   Zero balance accounts has been reduced to 23.86%

(vi)  Household Coverage: 99.99% households out of the 21.22 crore households surveyed have been covered under PMJDY.

 As on 23rd December, 2016, out of total requirement of 1,27,198 fixed location Bank Mitras in Sub Service Areas (SSAs), 1,26,985 Bank Mitras  have been deployed  by banks.

Overdraft (OD) in PMJDY accounts

 As on 23rd December, 2016, 44.28 lakh accounts have been sanctioned OD facility  of which 23.85 lakh account-holders  have  availed  this   facility involving an amount of Rs.316.56 crore.

 Insurance Claims settled

(i)     As on 23rd December, 2016, out of 1712 claims lodged, 1626 claims have been disposed off under accidental insurance cover of Rs. 1 lakh under RuPay debit card .

(ii)   As on 23rd December, 2016, out of 3936 claim lodged, 3421 claims paid under  Life Cover of Rs.30,000/- to those beneficiaries who opened their accounts for the first time from  15.08.2014 to 31.01.2015.

II         Jan Dhan to Jan Suraksha

 For creating a universal social security system for all Indians, especially the poor and the under-privileged by the Prime Minister Shri Narendra Modi launched three Social Security Schemes in the Insurance and Pension sectors; namely the Pradhan Mantri Suraksha Bima Yojna, the Pradhan Mantri Jeevan Jyoti Bima Yojana and the Atal Pension Yojana on Pan India basis on the 9th of May, 2015. Salient features of the two schemes related to Insurance are given below:

 Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)  

 The PMJJBY is available to people in the age group of 18 to 50 years having a bank account who give their consent to join / enable auto-debit. Aadhar would be the primary KYC for the bank account. The life cover of Rs. 2 lakhs shall be for the one year period stretching from 1st June to 31st May and will be renewable.   Risk coverage under this scheme is for Rs. 2 Lakh in case of death of the insured, due to any reason. The premium is Rs. 330 per annum which is to be auto-debited in one installment from the subscribers bank account as per the option given by him on or before 31st May of each annual coverage period under the scheme. The scheme is being offered by Life Insurance Corporation and all other life insurers who are willing to offer the product on similar terms with necessary approvals and tie up with banks for this purpose.

 By 28th December, 2016, Cumulative Gross enrolment reported by Banks, subject to verification of eligibility, etc. is over 3.08 crore under PMJJBY. 51,745 claims were registered under PMJJBY till 28thDecember, 2016 out of which 48,023 have been disbursed.

 Pradhan Mantri Suraksha BimaYojana (PMSBY)

 The Scheme is available to people in the age group 18 to 70 years with a bank account who give their consent to join / enable auto-debit on or before 31st May for the coverage period 1st June to 31st May on an annual renewal basis. Aadhar would be the primary KYC for the bank account. The risk coverage under the scheme is Rs. 2 lakh for accidental death and full disability and Rs. 1 lakh for partial disability. The premium of Rs. 12 per annum is to be deducted from the account holders bank account through auto-debit facility in one installment. The scheme is being offered by Public Sector General Insurance Companies or any other General Insurance Company who are willing to offer the product on similar terms with necessary approvals and tie up with banks for this purpose.

By 28thDecember, 2016, Cumulative Gross enrolment reported by Banks subject to verification of eligibility, etc. is over 9.88 Crore under PMSBY. 10084 Claims were registered under PMSBY till 28thDecember, 2016 out of which 7282 have been disbursed. 

 Atal Pension Yojana (APY)

(i)     APY was launched on 9th May, 2015 by the Prime Minister Shri Narendra Modi.

(ii)   APY is open to all bank account holders in the age group of 18 to 40 years and the contributions differ, based on pension amount chosen.

(iii) Subscribers would receive the guaranteed minimum monthly pension of Rs. 1000 or Rs. 2000 or Rs. 3000 or Rs. 4000 or Rs. 5000 at the age of 60 years.

(iv) Under APY, the monthly pension would be available to the subscriber, and after him to his spouse and after their death, the pension corpus, as accumulated at age 60 of the subscriber, would be returned to the nominee of the subscriber.

(v)   The minimum pension would be guaranteed by the Government, i.e., if the accumulated corpus based on contributions earns a lower than estimated return on investment and is inadequate to provide the minimum guaranteed pension, the Central Government would fund such inadequacy. Alternatively, if the returns on inv

Bombay Dyeing gains after entering into an agreement for sale of property, machinery
Jan 02,2017

The announcement was made on Sunday, 1 January 2017.

Meanwhile, the S&P BSE Sensex was down 156.91 points or 0.59% at 26,469.55

On the BSE, 1.46 lakh shares were traded on the counter so far as against the average daily volumes of 5.85 lakh shares in the past one quarter. The stock had hit a high of Rs 49.90 and a low of Rs 48.60 so far during the day.

The stock had hit a 52-week high of Rs 67.20 on 6 January 2016 and a 52-week low of Rs 39.05 on 17 February 2016. The stock had outperformed the market over the past one month till 30 December 2016, advancing 2.16% compared with the Sensexs 0.1% fall. The scrip had, however, underperformed the market over the past one quarter declining 6.9% as against the Sensexs 4.45% fall.

The small-cap company has equity capital of Rs 41.31 crore. Face value per share is Rs 2.

Bombay Dyeing & Manufacturing Company said that pursuant to the approval of the committee of the board, the company has entered into an agreement for sale of MIDC land & building and some specific utility machineries of Ranjangaon unit, Maharashtra, at an aggregate value of Rs 174.45 crore on 31 December 2016. The sales also includes a company owned flat at Beach Towers, Prabhadevi, Mumbai for Rs 9.4 crore on 31 December 2016.

Bombay Dyeing & Manufacturing Company reported net loss of Rs 71.21 crore in Q2 September 2016, higher than net loss of Rs 65.64 crore in Q2 September 2015. Net sales declined 1.6% to Rs 421.58 crore in Q2 September 2016 over Q2 September 2015.

Bombay Dyeing & Manufacturing Company is engaged in textile, polyester and real estate business segments.

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Ortel Communications add another digital payment option
Jan 02,2017

Ortel Communications has launched a new digital bill payment option using Paytm, bringing an easy way of paying bills for its customers. Apart from debit cards, credit cards and net banking, customers of Ortel Communications can now pay their bills through mobile wallet, Paytm, without using cash.

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Force Motors resumes production activity at some plants
Jan 02,2017

Force Motors announced that the Company has resumed its production activity as usual in some of the plants with effect from 02 January 2017 where is was observing No production days.

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Bank of India appoints CFO
Jan 02,2017

Bank of India has appointed Shanker Iyer, General Manager as Chief Financial Officer of the Bank w.e.f. 01 January 2017.

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Orient Paper & Industries to announce December quarter results
Jan 02,2017

Orient Paper & Industries announced that a meeting of the Board of Directors of the Company will be held on 20 January 2017, inter alia, to consider the Unaudited Quarterly Financial Results of the Company for the quarter ended 31 December 2016 subject to n++Limited Reviewn++ by the Auditors of the Company.

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IL&FS Engg spurts on new order
Jan 02,2017

The announcement was made after market hours on Friday, 30 December 2016.

Meanwhile, the S&P BSE Sensex was down 162.96 points or 0.61% at 26,463.50.

On the BSE, 26,000 shares were traded on the counter so far as against the average daily volumes of 24,308 shares in the past one quarter. The stock had hit a high of Rs 45.75 and a low of Rs 44.10 so far during the day.

The stock had hit a 52-week high of Rs 69.05 on 4 January 2016 and a 52-week low of Rs 36.80 on 22 November 2016. It had underperformed the market over the past one month till 30 December 2016, sliding 1.39% compared with the Sensexs 0.1% fall. The scrip had also underperformed the market over the past one quarter declining 20.39% as against the Sensexs 4.45% fall.

The small-cap company has equity capital of Rs 121.16 crore. Face value per share is Rs 10.

IL&FS Engineering and Construction Company announced that it has received a letter of acceptance (LoA) for a road contract worth Rs 242.56 crore from Ministry of Road Transport & Highways (MoRTH) through CE (NH) PWD, Government of Karnataka.

The engineering, procurement & construction (EPC) project is expected to be completed in 24 months. The company is currently executing a metro rail contract in Karnataka for Bangalore Metro Rail Corporation for a value of Rs 326.99 crore.

IL&FS Engineering and Construction Company reported net loss of Rs 80.67 crore in Q2 September 2016, slightly lower than net loss of Rs 81.87 crore in Q2 September 2015. Net sales rose 1.4% to Rs 356.87 crore in Q2 September 2016 over Q2 September 2015.

IL&FS Engineering and Construction Company is into infrastructure development, construction and project management.

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Ujaas Energy energizes after receiving letter of intent for solar power plant
Jan 02,2017

The announcement was made on Saturday, 31 December 2016.

Meanwhile, the S&P BSE Sensex was down 107.97 points or 0.41% at 26,514.55.

On the BSE, 91,867 shares were traded in the counter so far as against average daily volume of 6.56 lakh shares in the past one quarter. The stock had hit a high of Rs 46.70 and a low of Rs 45.50 so far during the day. The stock had hit a record high of Rs 52.25 on 16 December 2016. The stock had hit a 52-week low of Rs 19.40 on 29 September 2016.

The stock had underperformed the market over the past one month till 30 December 2016, sliding 7% compared with 0.1% drop in the Sensex. The scrip had, however, outperformed the market in past one quarter, jumping 98.22% as against Sensexs 4.45% fall.

The small-cap company has equity capital of Rs 20 crore. Face value per share is Re 1.

Ujaas Energy announced that it has received letter of intent from MOIL for design, engineering, procurement & supply, construction, erection, testing & commissioning of solar photovoltaic (PV) plant with tracking system on turnkey basis of 5 megawatts (MW) (AC) capacity in Maharashtra.

Ujaas Energys net profit surged 196% to Rs 9.71 crore on 129.9% rise in net sales to Rs 121.15 crore in Q2 September 2016 over Q2 September 2015.

Ujaas Energy is engaged in the design of various products and solutions for producing clean energy.

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Board of Timex Group India to consider Q3 and 9M results
Jan 02,2017

Timex Group India announced a meeting of the Board of Directors of the Company is scheduled to be held on 02 February 2017, inter alia, to consider and approve the Un-audited Financial Results of the Company for the quarter and nine months ending on 31 December 2016.

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Indian Railways Measures to Promote Digital Payments
Jan 02,2017

In pursuance of this announcement made by Government of India for promotion of Digital & Cashless Economy, Ministry of Railways has initiated some additional following package of incentives and measures. This shall be made effective from 1st January 2017.

1. Ministry of Railways has decided to instruct Yatri Ticket Suvidha Kendras (YTSKs) to install POS machines and accept payments through all banks debit/credit cards for issuing both reserved and unreserved tickets. They are encouraged to accept payments through other modes also like UPI, USSD, e-wallet, Aadhar enabled payments system.

2. Ministry of Railways has decided to instruct Jan Sadharan Ticket Booking Seva (JTBs) are also instructed to accept payments through other modes like UPI, USSD, e-wallets, Aadhar enabled payments system to issue unreserved tickets.

3. Ministry Of Railways have decided to allow 5% Discount for booking of Retiring Room through digital means like using debit/credit cards.

4. Ministry of Railways have decided that 0.5% discount in the base fare of season tickets (Monthly, quarterly, Half yearly, yearly) over suburban section shall be granted in case the payment is made through digital means through debit card, credit card etc.. Other charges like MUTP surcharge, Mela surcharge, service tax etc., if applicable shall be levied separately on the base fare arrived at after giving the 0.5% concession.

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Indian Railways takes Measures to Promote Digital Payments
Jan 02,2017

In pursuance of this announcement made by Government of India for promotion of Digital & Cashless Economy, Ministry of Railways has initiated some additional following package of incentives and measures. This shall be made effective from 1st January 2017.

1. Ministry of Railways has decided to instruct Yatri Ticket Suvidha Kendras (YTSKs) to install POS machines and accept payments through all banks debit/credit cards for issuing both reserved and unreserved tickets. They are encouraged to accept payments through other modes also like UPI, USSD, e-wallet, Aadhar enabled payments system.

2. Ministry of Railways has decided to instruct Jan Sadharan Ticket Booking Seva (JTBs) are also instructed to accept payments through other modes like UPI, USSD, e-wallets, Aadhar enabled payments system to issue unreserved tickets.

3. Ministry Of Railways have decided to allow 5% Discount for booking of Retiring Room through digital means like using debit/credit cards.

4. Ministry of Railways have decided that 0.5% discount in the base fare of season tickets (Monthly, quarterly, Half yearly, yearly) over suburban section shall be granted in case the payment is made through digital means through debit card, credit card etc.. Other charges like MUTP surcharge, Mela surcharge, service tax etc., if applicable shall be levied separately on the base fare arrived at after giving the 0.5% concession.

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Eicher Motors announces motorcycle sales
Jan 02,2017

Eicher Motors achieved total motorcycle sales of 57398 units in month of December 2016 compared to 40453 units in December 2015, recording a growth of 42%.

Total sales include exports of 1082 units in December 2016, recording a growth of 160% over the corresponding month of previous year.

For the period April - December 2016, total sales increased 36% to 488,262 units compared to corresponding period of previous year.

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Eicher moves north after strong motorcyle sales
Jan 02,2017

The company announced the monthly sales volume yesterday, 1 January 2017.

Meanwhile, the S&P BSE Sensex was down 89.19 points or 0.33% at 26,537.27.

On the BSE, 2,221 shares were traded on the counter so far as against the average daily volumes of 5,241 shares in the past one quarter. The stock had hit a high of Rs 22,851 and a low of Rs 22,222 so far during the day.

The stock had hit a record high of Rs 26,601.95 on 29 September 2016 and a 52-week low of Rs 14,817.75 on 19 January 2016. It had outperformed the market over the past one month till 30 December 2016, advancing 0.63% compared with the Sensexs 0.1% fall. The scrip had, however, underperformed the market over the past one quarter declining 12.46% as against the Sensexs 4.45% fall.

The large-cap company has equity capital of Rs 27.20 crore. Face value per share is Rs 10.

Eicher Motors exports of motorcycles jumped 160% to 1,082 units in December 2016 over December 2015.

Separately, Eicher Motors announced yesterday, 1 January 2017 that sale volume of VE Commercial Vehicles, an unlisted subsidiary of Eicher Motors fell 20.04% to 4,048 units in December 2016 over December 2015.

On a consolidated basis, net profit of Eicher Motors rose 45.19% to Rs 413.16 crore on 35.14% rise in net sales to Rs 1748.44 crore in Q2 September 2016 over Q2 September 2015.

Eicher Motors (EML) is the flagship company of the Eicher Group. EML is one of the leading players in the Indian automotive space. EML owns the iconic Royal Enfield motorcycle business which leads the premium motorcycle segment in India. EMLs joint venture with the Volvo group, VE Commercial Vehicles, designs, manufactures and markets reliable, fuel-efficient trucks and buses.

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