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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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Supreme Infrastructure India provides update on Panvel Indapur Road BOT Project
Apr 10,2017

Supreme Infrastructure India announced that the Company has achieved the desired milestone of NHAI being completion of fifty percent of the EPC work in the Panvel Indapur Road BOT Project as per the independent engineer of NHAI.

Last four months have seen a progress of around seven percent on ground. Having achieved the milestone, the balance EPC work would be loan financed by NHAI for which all the required formalities in this regard is completed. NHAI has already granted the extension in the concession period by three years. The Company is executing the EPC work and the balance EPC work of approx. Rs. 559 crore would be executed by the Company and it is expected to achieve full completion of the project by March 2018.

The Company has completed construction of one way flyover at Mankoli Junction on NH-3 Thane - Nashik road. The flyover was inaugurated by Hon. Chief Minister of Maharashtra, Devendra Fadnavis on 8 April 2017.

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Uttam Sugar Mills temporarily stops manufacturing operations at Barkatpur unit
Apr 10,2017

Uttam Sugar Mills announced that the Company has received communication from the Central Pollution Control Board to close down the manufacturing operations of the Distillery Division situated at Barkatpur unit till the compliance of its directions. Accordingly, the Company has temporarily stopped the manufacturing operations to comply the directions given by the CPCB.

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Sterling Tools spurts after bulk deal
Apr 10,2017

Meanwhile, the S&P BSE Sensex was down 56.36 points, or 0.19% to 29,650.25

Bulk deal boosted volume on the scrip. On BSE, so far 3.44 lakh shares were traded in the counter as against an average daily volume of 5,565 shares in the past one quarter. The stock hit a high of Rs 235 in intraday trade so far, which is record high for the counter. The stock hit a low of Rs 220.60 so far during the day. The stock had hit a 52-week low of Rs 86.20 on 2 June 2016.

The stock had outperformed the market over the past one month till 7 April 2017, surging 6.14% compared with 2.69% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 16.69% as against Sensexs 11.01% rise.

The small-cap companys equity capital is Rs 6.84 crore. Face value per share is Rs 2.

Sterling Tools net profit rose 85.69% to Rs 12.59 crore on 1.32% rise in total income to Rs 87.28 crore in Q3 December 2016 over Q3 December 2015.

Sterling Tools is engaged in the manufacturing and marketing of high tensile cold forged fasteners. Over the years, it has become one of the leading OEM suppliers in India with a client base that spans leading automotive companies in India, Europe and USA.

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New Mental Healthcare Bill 2016 awaiting Presidential assent
Apr 10,2017

The new Mental Healthcare Bill 2016, which has been approved Parliament and is awaiting the Presidents assent should be implemented in letter and spirit to ensure mental healthcare and services to persons with mental illness. This was stated by Mr. Lav Aggarwal, Joint Secretary, Ministry of Health and Family Welfare.

Mr. Aggarwal said that a multi-pronged approach was needed to identify and treat clinical depression and mental disorder as it required overall life course correction. There was a need to integrate mental health services with regular healthcare services as it would allow reduction in isolation of patients afflicted with such disorders. Furthermore, mass awareness campaigns were essential to remove the social stigma attached to it and community based approach should be adopted.

The World Health Organization (WHO) has recognised mental health as being a primary concern for well-being of individuals and instated depression as the theme for World Health Day this year. Depression has become an increasingly fatal disease accounting for the highest number of disabilities that occur after cardiac illnesses. The presence of an undiagnosed depression is known to be the cause of 90% suicides that happen across the world. Between 1990 and 2013 the number of people suffering from depression and anxiety disorders increased by nearly 50%. Mental illnesses affected 300 million of the global population in 2015. WHO statistics place the prevalence of depression in South East Asian countries at 86 million. Mr. Sumant Narain, Director, Health, NITI Aayog, said that today the ecosystem was far more conducive to recognizing depression and partnerships were needed between public and private sectors to deal with the illness. There has been a behavioral change in the society but sustained and systematic efforts were required to circumvent clinical depression. Although there were known and effective treatment for depression available but a very small proportion of the affected population in the world receive such treatment.

He said that in addition to limited availability of resources and trained health-care providers, the social stigma attached to mental disorders was a major challenge. Hence it was imperative for people to learn and understand depression. It will not only benefit the patient but also the caregivers and family members. With the passage of the revised Mental Health Bill 2016, it is now time to implement it with the support of all stakeholders.

Prof. Mathew Varghese, Professor of Psychiatry, NIMHANS, said awareness campaigns should clearly spell out that depression was an illness that can be treated and depression relating to physical illness was prevalent. Also, depression as a disorder could be responsible for disability, morbidity and mortality. He added that each available medium must focus on bringing to the fore these messages.

Prof. Varghese said that the way ahead should be to organize universal prevention programmes, targeted interventions for people at high risks and teaching and training general physicians and specialists to screen and identify patients with clinical depression at an early stage and treatment should be evidence-based. In his concluding remarks, Mr. Daljit Singh, President, Fortis Healthcare Ltd., said that capacity building wasrequired in treating mental disorders and technology could be of great assistance in this regard. Recognition of depression as a disease in India was a positive transformation in society and with the governments new Mental Health Bill was a step in the right direction.

Dr Samir Parikh, Consultant Psychiatrist & Director, Department of Mental Health and Behavioral Sciences, Fortis Healthcare, said that there was a need for a national policy on suicide prevention and creation of awareness about depression as a recent survey has shown that 60 per cent of the people consider it a rare disease while in reality it was one of the major causes for suicides.

Dr. Parikh said that role models especially of youth should speak on the issue as it is bound to be more impactful. Everywhere people need to talk about mental health for recognizing it and treating it in time. He added that there was not adequate number of doctors to treat depression in the county and the majority of existing doctors were in the private sector. Therefore the need was to have accessible and affordable psychiatrists in the outskirts of the country. Technology should be leveraged to treat patients in the periphery.

Dr. Parikh said that the private sector needed to play a proactive role and with collaborative efforts from the industry, private and public healthcare providers, government and media, a program was needed to increase awareness and accessibility of expert help to incidence of depression in the country.

Dr Narottam Puri, Advisor - FICCI Health Services, Board Member & Former Chairman, NABH, said that in India one in every five person was suffering from depression and still it remained under-diagnosed, under-reported and under-treated. The stigma attached with depression has dissuaded people to talk about it openly and with lack of awareness it was often equated with madness.

Dr Puri said that suicides caused by depression were highest among medical professionals and the primary reason was that doctors were usually surrounded by patients with depression and there was easy access to mood elevating drugs. He added that India lacked medical practitioners in the field besides the medical curriculum did not give due weightage to identification and treatment of depression.

Dr Puri said that women suffer from depression more than men and while it was easier to treat a stroke, understanding the emotive brain functions still remained a mystery. Therefore, it was necessary to empower medical students through curriculum and train general physicians enabling them to recognize depression.

Ms. Shobha Mishra Ghosh, Assistant Secretary General, FICCI, said that such collaborative initiatives which bring together different stakeholders from the health fraternity and various facets of society can help initiate a concentrated and comprehensive approach to reduce the morbidity and disability due to depression in the country. She also announced the launch of a series of Webinars in association with Fortis on Depression and Well-being for corporate employees. These free of cost webinars will be conducted by experts from the mental health team of Fortis Healthcare.

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Tata Motors announces Group wholesale figures
Apr 10,2017

Tata Motors announced that Group global wholesales in March 2017, including Jaguar Land Rover, were at 129,951 nos., higher by 9%, over March 2016. Cumulative wholesales for the fiscal were 11,55,253 nos., higher by 9%, over FY15-16.

Global wholesales of all Tata Motors commercial vehicles and Tata Daewoo range in March 2017 was lower by 6% at 42,596 nos., compared to March 2016. Cumulative commercial vehicles wholesales for the fiscal were 397,259 nos. higher by 1%, over FY15-16.

Global wholesales of all passenger vehicles in March 2017 were at 87,355 nos., higher by 19%, compared to March 2016. Cumulative passenger vehicle wholesales for the fiscal were 757,994 vehicles, higher by 12%, over FY15-16.

Global wholesales for Jaguar Land Rover were 71,609 vehicles.

Jaguar wholesales for the month were 20,492 vehicles, and cumulative wholesales were 178,751 vehicles, while Land Rover wholesales for the month were 51,117 vehicles, while its cumulative wholesales no. were 422,055 vehicles. Cumulative wholesales for Jaguar Land Rover for the fiscal were 600,806 vehicles.

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NIIT tumbles after CEO resigns
Apr 10,2017

The announcement was made after market hours on Friday, 7 April 2017.

Meanwhile, the S&P BSE Sensex was down 74.94 points, or 0.25% to 29,631.67.

On the BSE, 22.85 lakh shares were traded in the counter so far, compared with average daily volumes of 2.01 lakh shares in the past one quarter. The stock had hit a high of Rs 80.40 and a low of Rs 73.80 so far during the day.

The stock hit a 52-week high of Rs 107.80 on 20 September 2016. The stock hit a 52-week low of Rs 67 on 9 November 2016.

The stock had outperformed the market over the past one month till 7 April 2017, rising 9.66% compared with 2.69% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 6.49% as against Sensexs 11.01% rise.

The small-cap company has equity capital of Rs 33.15 crore. Face value per share is Rs 2.

NIIT said that its chief executive officer (CEO), Rahul Keshav Patwardhan, tendered his resignation due to compelling family reasons and has requested to be relieved from the close of business hours of 31 July 2017. The Board has accepted his resignation at its meeting held on 7 April 2017.

Further, the board of directors has approved the appointment of Sapnesh Lalla as chief executive officer designate of the company from 7 April 2017 and as chief executive officer of the company with effect from 1 August 2017.

On a consolidated basis, net profit of NIIT declined 56.20% to Rs 6 crore on 1.91% rise in net sales to Rs 267.30 crore in Q3 December 2016 over Q3 December 2015.

NIIT, a global leader in skills and talent development, offers multi-disciplinary learning management and training delivery solutions to corporations, institutions, and individuals in over 40 countries. NIIT has three main lines of business across the globe- corporate learning group, skills and careers group, and school learning group.

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Noida Toll Bridge Company announces change in registered office
Apr 10,2017

Noida Toll Bridge Company announced that the Registered Office of the Company has been shifted from the State of Uttar Pradesh to the National Capital Territory of Delhi. The Registered Office of the Company will now be situated at the following address: 2nd floor, Niryat Bhawan, Rao Tula Ram Marg, Opp. Army Hospital Research & Referral, New Delhi - 110057.

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Volumes jump at Shiva Cement counter
Apr 10,2017

Shiva Cement clocked volume of 45.83 lakh shares by 13:20 IST on BSE, a 70.81-times surge over two-week average daily volume of 65,000 shares. The stock rose 1.08% to Rs 23.50.

Sterling Tools notched up volume of 3.43 lakh shares, a 40.65-fold surge over two-week average daily volume of 8,000 shares. The stock rose 4.88% to Rs 232.

Moschip Semiconductor Technology saw volume of 32.09 lakh shares, a 12.98-fold surge over two-week average daily volume of 2.47 lakh shares. The stock rose 9.98% to Rs 52.90.

Linde India clocked volume of 1.08 lakh shares, a 12.52-fold surge over two-week average daily volume of 9,000 shares. The stock jumped 8.9% to Rs 473.90.

NIIT saw volume of 21.90 lakh shares, a 7.88-fold rise over two-week average daily volume of 2.78 lakh shares. The stock dropped 6.22% to Rs 77.70.

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Reliance Power signs MoU with PetroBangla
Apr 10,2017

Reliance Power has signed an MoU with PetroBangla to set up 500 mmscfd LNG terminal at Kutubdia Island near Chittagong in Bangladesh. The definitive agreements for setting up the LNG terminal will be executed with PetroBangla shortly.

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Cox & Kings gains on bottom fishing
Apr 10,2017

Meanwhile, the S&P BSE Sensex was down 104.37 points, or 0.35%, to 29,602.24. Meanwhile, the S&P BSE Mid-Cap index was up 33.76 points, or 0.24%, to 14,266.92

On the BSE, so far 11,000 shares were traded in the counter, compared with average daily volumes of 41,685 shares in the past one quarter. The stock had hit a high of Rs 216.35 and a low of Rs 212.20 so far during the day. The stock hit a 52-week high of Rs 242 on 19 September 2016. The stock hit a 52-week low of Rs 146.20 on 31 May 2016.

The mid-cap company has equity capital of Rs 88.28 crore. Face value per share is Rs 5.

The stock had outperformed the market over the past one month till 7 April 2017, surging 13.84% compared with 2.69% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 13.81% as against Sensexs 11.01% rise.

Cox & Kings consolidated net profit slumped 84.81% to Rs 15.23 crore on 19.9% decline in net sales to Rs 1373.89 crore in Q3 December 2016 over Q3 December 2015.

Cox & Kings is a leading leisure and education travel group with operations in 22 countries across 4 continents. C&K operates in three key verticals: leisure, education and hybrid hotels.

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Reliance Power executes power agreements with Bangladesh Power Development Board
Apr 10,2017

Reliance Power has executed Project Agreements with Bangladesh Power Development Board for Phase - I of 750 MW LNG based combined cycle power project at Meghnaghat, near Dhaka in Bangladesh which include Power Purchase Agreement and Implementation Agreement.

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Viaan Industries launches Direct Selling Venture - Best Naturals
Apr 10,2017

Viaan Industries has launched its new Direct Selling Venture - Best Naturals. It is an exclusive range of 100% safe Ayurvedic products. With their channel partners, Best Naturals targets to touch 50,000 people in its first year of operations and reach up to 2,50,000 in the next 2-3 years.

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Marksans Pharma gets final approval for Dutasteride Soft Gelatin Capsules
Apr 10,2017

Marksans Pharma announced that on 07 April 2017, the USFDA has granted final approval of the Abbreviated New Drug Application for Dutasteride Soft Gelatin Capsules 0.5 mg, which is therapeutically equivalent to the reference listed drug (RLD), Avodart Capsules, 0.5 mg of GlaxoSmithKline.

Durasteride is indicated for the treatment of symptomatic benign prostatic hyperplasia (BPH) in men with an enlarged prostate. Marksans will launch the product immediately.

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Committee recommendations to review Khadi Industries
Apr 10,2017

The Central Government had constituted the following Committees to review the existing structure, functioning and performance of Khadi Village and Industries Commission(KVIC) to study the regulatory framework and to recommend any other measures considered necessary to revamp the KVIC.

1. High Power Committee headed by late Prime Minister Shri PV Narasimha Rao

2. Arthur Andersen Study

3. Expert Committee under the Chairmanship of Shri. D.M. Sukthankar, former Chief Secretary Govt. of Maharashtra

High Power Committee (HPC) was constituted under the Chairmanship of late Prime Minister Mr. P. V. Narasimha Rao to review the performance, examine the issues and identify the problems faced by the KVI sector.

The Committee in its report submitted in 1994 made various recommendations. The key recommendations of the Committee were:

n++n++ All apex financing Institutions and commercial banks to be advised to increase the flow of institutional credit to the KVI sector.

n++n++ Rebate for Khadi may be replaced by n++n++Market Development Assistancen++n++ (MDA), calculated at 20% of production

n++n++ Necessary legislative measures to protect n++n++Khadin++n++ and its use by KVIC certified Institutions;

n++n++ Separate wing in KVIC to supervise the working of Sliver Plants; smaller economical sliver plants to be set up at the Institutional level

n++n++ Village industries under the purview of KVIC to be considered on par with Government level village and small industries category for planning and development purposes.

n++n++ Government to constitute a separate fund (Rs. 2000 crore) for rural industries to be administered by NABARD or a separate financial institution.

n++n++ Focus on select industries for development where KVIC has expertise and experience

n++n++ Development of the export capability of KVI Institutions; strengthening quality control, augmenting training (participatory funding scheme for KVIB and NGO run new training centres) and research facilities

n++n++ Creation of a special cell at the KVIC headquarters to oversee and monitor the KVI programmes

n++n++ Transition to Project Approach for financing (from Pattern Approach)

n++n++ Commission to delegate day to day functions to the CEO and Financial Advisor and focus on developmental rather than regulatory activity

n++n++ Measures for strengthening of KVIBs

Based on the recommendations of the High Power Committee the following changes were brought in the KVI Sector:

The REGP scheme was commissioned in 1995-96 with the objective of providing a formal channel for flow of funds from banking institutions to the KVI sector.

The Government of India framed a new scheme for KVIC to take online credit facility (Consortium of Bank Credit or n++n++CBCn++n++) of Rs. 1000 crore.

Arthur Andersen study was commissioned in the year 2000 with the objective of reorganizing the KVIC organization structure with respect to the changing business needs and overall objectives of the KVIC.

The Committee in its report made various recommendations. The key recommendations of the Committee were:

n++n++ Redefinition of n++n++Commissionn++n++ under the KVIC act, 1956 in line with change from an operational body to policy formulation body.

n++n++ At the Commission level, the KVIC to not only comprise representatives of the KVI sector but the officers of the KVIC to also participate in its policy making and, therefore, the CEO, FA and the heads of Khadi and VI departments to be appointed as voting members of the Commission.

n++n++ At the operational level, KVIC to structure itself into separate business units to meet the distinct requirements of Khadi and Village Industries.

n++n++ The roles and responsibilities of internal functions, such as Capacity Building, Marketing & Sales, Research & Development, Human Resources, Finance, etc, which are integral to the organizationn++n++s performance, to be defined and communicated clearly.

n++n++ KVIC should set up industrial clusters catering to a groups of skilled artisans at the district/block level

Based on the recommendations of the Arthur Andersen study the CEO and FA were made ex-officio members of the Commission and voting rights were also conferred.

Ministry constituted Expert Committee under the Chairmanship of Mr. D.M. Sukthankar, former Chief Secretary Govt. of Maharashtra, in 2005 to review the existing structure, functioning and performance of KVIC to study the regulatory framework and to recommend any other measures considered necessary to revamp the KVIC.

The Committee in its report submitted in March, 2005 made various recommendations. The key recommendations of the Committee were:

n++n++ Need for identification of select traditional and sunrise industries as focus areas; a cluster-based approach to revival of traditional industries;

n++n++ Recognize technological up-gradation and modernization as a priority area for transforming the sector; suggested mobilization of existing technical and scientific Institutions, such as, ITIs, Engineering Colleges, IITs, CSIR as resource/contact Institutions for rural industrialization and creation of venture capital fund within KVI;

n++n++ Recommended brand building, standardization and quality control for products of KVI Sector;

n++n++ Address the organizational and training issues preventing the growth of the KVI sector and suggested setting up of Zonal Committees and Zonal offices under a Deputy CEO, and restructuring of training programme aimed towards entrepreneurial development;

n++n++ Commented on issues related to Khadi Institutions, namely, dues on account of Rebate, stock pile-up and state of implements; Suggested alternatives to Rebate

n++n++ direct subsidization of spinners

n++n++ encouraging entrepreneurship among spinners/weavers through formation of Self Help Groups

n++n++ Governance related recommendations

Based on the recommendations of the Expert Committee the following changes were brought in the KVI Sector:

n++n++ Introduced Scheme of Fund for Regeneration of Traditional Industries (SFURTI) to organize the traditional industries and artisans into clusters to make them competitive and provide support for their long term sustainability and economy of scale.

n++n++ KVIC took up several projects under an interface with reputed Technological institutions viz. IITs and NITs for developing new technologies and their subsequent dissemination among institutions and entrepreneurs of KVI Sector.

KVIC have introduced n++n++Khadi Markn++n++ to ensure genuineness of Khadi to the customers.

Zonal Committees have been constituted for each of six geographical zones to monitor timely implementation of KVI programmes/schemes for the development of Khadi and Village Industries in the zone.

The Ministry of MSME has revised the negative list and brought in a large number of new industries/projects like spinning and weaving, solar charkhas hand loom/power looms under the ambit of Prime Ministern++n++s Employment Generation Programme (PMEGP).

Government of India introduced the scheme of Market Development Assistance (MDA) on Production in place of rebate after experimenting with several pilot schemes. The scheme has been given effect from 1st April 2010, to help Khadi institutions to reorient their activities extending adequate emphasis towards increasing artisans earnings as well as ensuring quality of Khadi to customers. Under MDA scheme 25% of assistance is earmarked for payment among spinners and weavers as additional incentive through their bank/post office account.

An online application system has been made operational for disbursement of Market Development Assistance (MDA) and Interest Subsidy under ISEC scheme to KIs and artisans as ap

Marksans Pharma intimates of USFDA inspection of its manufacturing facility at Goa
Apr 10,2017

Marksans Pharma announced that the United States Food & Drug Administration inspected its manufacturing facility located at Goa from 03 April to 07 April 2017. At the end of the inspections, there were 4 (four) observations given under Form 483. The company is already addressing the same and is confident of satisfying the FDA within stipulated time.

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