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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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Kabra Drugs announces resignation of director
Apr 07,2017

Kabra Drugs announced that Rajendra Bordia, Independent Director of the Company has resigned from the Board with effect from 07 April, 2017.

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Board of Larsen & Toubro approves change in directorate
Apr 07,2017

The Board of Directors of Larsen & Toubro at its meeting held on 07 April 2017 has appointed A M Naik as Non Executive Chairman with effect from 01 October 2017 for a period of three years. His current term as Group Executive Chairman ends on 30 September 2017.

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Strides Shasun provides update on acquisition of Perrigos USFDA approved facility
Apr 07,2017

Strides Shasun announced that it has completed the acquisition of Perrigos US FDA approved API facility in India.

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Board of Larsen & Toubro appoints CEO and MD
Apr 07,2017

The Board of Directors of Larsen & Toubro at its meeting held on 07 April 2017 has appointed S N Subramanyan as CEO and Managing Director with effect from 01 July 2017.

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AAR Commercial Company appoints director
Apr 07,2017

AAR Commercial Company announced that Anupam Khetan is appointed as a Whole-time Director of the Company pursuant to Section 196 of Companies Act 2013, with effect from 21 March 2017 and his appointment has been accepted and noted by the board of directors.

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IndusInd Bank inaugurates its first branch in Gaya
Apr 07,2017

IndusInd Bank recently inaugurated its first branch in Gaya. The new branch is located at Nandan Niketan, Nagmatia Road, Gaya. With the inauguration of this branch, the Bank now has 18 branches in the state of Bihar.

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NIIT announces change in CEO
Apr 07,2017

NIIT announced the resignation of Rahul Keshav Patwardhan from the position of CEO of the Company with effect from 31 July 2017. The Board has accepted his resignation at its meeting held on 07 April 2017. Further the Board of Directors has approved the appointment of Sapnesh Lalla as CEO Designate of the Company from 07 April 2017 and as Chief Executive Officer of the Company with effect from 01 August 2017

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Rachana Capital & Securities reviews MCLR rates
Apr 07,2017

Bank of Maharashtra has reviewed the MCLR rates with effect from 07 April 2017 as under -

Overnight - 8.55%
One month - 8.70%
Three month - 8.70%
Six months - 8.75%
One year - 8.75%

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Rachana Capital & Securities announces resignation of company secretary and compliance officer
Apr 07,2017

Rachana Capital & Securities announced that Asmita Sanjaykumar Purohit has resigned as Company Secretary & Compliance Officer of the Company with effect from 10 April 2017 (after closure of the office hours).

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Board of G M Breweries recommends final dividend
Apr 07,2017

G M Breweries announced that the Board of Directors of the Company at its meeting held on 6 April 2017, inter alia, have recommended the final dividend of Rs 3 per equity Share (i.e. 30%) , subject to the approval of the shareholders.

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Star Ferro & Cement to hold board meeting
Apr 07,2017

Star Ferro & Cement will hold a meeting of the Board of Directors of the Company on 8 April 2017, to consider issue and allot shares by Star Cement Limited (Transferee Company) to the Shareholders of Star Ferro and Cement Limited (Transferor Company) pursuant to the Scheme of Amalgamation of Star Ferro and Cement Limited with Star Cement Limited.

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Atlas Cycles (Haryana) announces resignation of director
Apr 07,2017

Atlas Cycles (Haryana) announced that Veena Buber has ceased to be the Director of the Company with effect from 01 April 2017 as she tendered her resignation via Letter dated 01 April 2017 from the post of Non Executive Woman Director of the Company and the Board of Directors has taken note of her resignation in their meeting held on 04 April 2017 and accepted the same with effect from 01 April 2017.

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SMS Pharma in pink of health after hiking stake in VKT Pharma
Apr 07,2017

The announcement was made after market hours yesterday, 6 April 2017.

Meanwhile, the BSE Sensex was down 216.62 points, or 0.72%, to 29,710.72. Meanwhile, the BSE Small-Cap index was down 65.58 points, or 0.44%, to 14,685.39.

On BSE, so far 84,000 shares were traded in the counter, compared with an average volume of 11,669 shares in the past one quarter. The stock hit a high of Rs 93.90 and a low of Rs 88 so far during the day. The stock hit a 52-week high of Rs 115 on 6 October 2016. The stock hit a 52-week low of Rs 78 on 21 November 2016.

The stock had underperformed the market over the past one month till 6 April 2017, rising 0.86% compared with the Sensexs 3.55% rise. The scrip also underperformed the market over the past one quarter, sliding 7.3% as against the Sensexs 11.84% advance.

The small-cap company has an equity capital of Rs 8.47 crore. Face value per share is Re 1.

SMS Pharmaceuticals said that the company has further invested Rs 2.7 crore by subscribing 1.20 lakh equity shares at Rs 225 per share. After the present acquisition, the total holding of the company in VKT Pharma stood at 41.08%, SMS Pharmaceuticals said.

Net profit of SMS Pharmaceuticals rose 18.33% to Rs 13.04 crore on 16.82% rise in net sales to Rs 167.98 crore in Q3 December 2016 over Q3 December 2015.

SMS Pharmaceuticals is a global player in active pharmaceutical ingredient (API) manufacturing.

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More than Rs. 1.37 Lakh Crore of tax evasion has been detected (Income Tax 69434; Customs 11405; Central Excise 13952; Service Tax 42727) among others
Apr 07,2017

Concerted & co-ordinated actions of Law Enforcement Agencies (LEAs) under the Department of Revenue have achieved phenomenal success in fighting the menace of black money during the last three years.

The period has witnessed unprecedented enforcement actions in direct & indirect taxes. While 23064 searches / surveys have been conducted (Income Tax 17525; Customs 2509; Central Excise 1913; Service Tax 1120); more than Rs. 1.37 lakh crore of tax evasion has been detected (Income Tax 69434; Customs 11405; Central Excise 13952; Service Tax 42727). Simultaneously, criminal prosecutions were launched in 2814 cases (Income Tax 1966; Customs 526; Central Excise 293; Service Tax 29) and 3893 persons were placed under arrest. (Customs 3782; Central Excise 47; Service Tax 64)

The Enforcement Directorate intensified its anti money laundering actions by registering 519 cases and conducting 396 searches. Arrests were made in 79 cases and properties worth Rs.14,933 crore were attached.

The Benami prohibition law which remained in-operative for last 28 years was made operational through a comprehensive amendment with effect from November, 2016. More than 245 benami transactions have already been identified. Provisional attachments of properties worth Rs.55 crore have already been made in 124 cases.

Relevant laws and rules have been streamlined & tightened, plugging the loopholes and strengthening the penal provisions. Effective steps were taken to track & curb cash transactions through various means like penalising cash transaction of more than Rs.2 lakh; limiting allowable cash expense up-to Rs.10000 only; making Aadhaar mandatory for obtaining PAN & filing of income tax returns; making PAN mandatory for cash deposits above Rs.50,000; compulsory linking of PAN with bank accounts; prohibiting cash of Rs.20,000 or more in transfer of immovable property by imposition of a penalty of an equal amount and mandatory reporting of cash deposits above Rs.2.5 lakh in savings accounts and Rs.12.5 lakh in current account during 9 November to 30 December 2016.

Crackdown against thousands of shell companies engaged in nefarious activities was effected through enforcement actions (searches, surveys, arrests, prosecutions) by the LEAs (IT/ED/MCA/SFIO/CBI). During the last three financial years (2013-14 to 2015-16), Income Tax investigations led to detection of more than 1155 shell companies / entities used as conduits by over 22,000 beneficiaries. The amount involved in non-genuine transactions of such beneficiaries was more than Rs. 13,300 crore. The Ministry of Corporate Affairs has issued more than a lakh notices for striking off names of defunct / non-compliant companies. A High powered group has been set-up for co-ordinating and monitoring the actions taken by departments concerned with the objective of eliminating the conduits of black money generation and application.

The relentless crusade against black money will get further intensified in the coming days making the tax evaders & money launderers realise that they have to pay a heavy cost for their deviant behaviour.

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Cadila Healthcare moves up after facility clears USFDA inspection
Apr 07,2017

The announcement was made during market hours today, 7 April 2017.

Meanwhile, the S&P BSE Sensex was down 199.81 points or 0.67% at 29,727.53.

Higher than normal volumes were witnessed on the counter. On the BSE, 9.26 lakh shares were traded on the counter so far as against the average daily volumes of 1.3 lakh shares in the past one quarter. The stock had hit a high of Rs 466.10 in intraday trade, which is also a record high for the stock. The stock hit a low of Rs 447.50 so far during the day. The stock had hit a 52-week low of Rs 305 on 12 April 2016.

The stock had underperformed the market over the past one month till 6 April 2017, gaining 2.18% compared with Sensexs 3.03% gains. The scrip had, however, outperformed the market in past one quarter, advancing 18.14% as against Sensexs 11.84% rise.

The large-cap company has equity capital of Rs 102.37 crore. Face value per share is Re 1.

Cadila Healthcare announced that United States Food & Drug Administration (USFDA) issued no observation (483) after inspecting companys Topical manufacturing facility in Changodar near Ahmedabad from 3 April to 7 April 2017.

The company has filed 17 products with the USFDA from this manufacturing facility, it added.

Cadila Healthcares consolidated net profit fell 34.6% to Rs 281.60 crore on 0.8% decline in net sales to Rs 2249.60 crore in Q3 December 2016 over Q3 December 2015.

Cadila Healthcare is an innovative, global pharmaceutical company that discovers, develops, manufactures and markets a broad range of healthcare therapies.

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