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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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Essel Propack acquires 100% stake in Essel Deutschland Germancy
Sep 21,2016

Essel Propack announced a complete buyout of Essel Deutschland Germany (EDG). Following this transaction, EDG will be a 100% subsidiary of Essel Propack. Until now, Essel has been a JV partner with 24.9% share in EDG. The enterprise value of EDG stands at USD 32 million.

The EDG revenue of approximately USD 40 million will now be consolidated in Essels global revenue and will boost consolidate revenue by 11%. In FY 2016, Essel Propacks consolidated revenue stood at Rs 2184 crore.

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HUDCO Pays Dividend of Rs. 120 crore
Sep 21,2016

Dr. M Ravi Kanth Chairman & Managing Director, HUDCO presented the dividend cheques for the financial year 2015-16 to Shri M Venkaiah Naidu, Honble Minister for Urban Development, Housing & Urban Poverty Alleviation and Information & Broadcasting.

HUDCO has declared a total dividend of Rs. 120.37 crore (inclusive of dividend tax of Rs. 20.36 crore) for the financial year 2015-16 to the Government of India. Out of the total dividend paid, Rs. 69.20 crore to the Ministry of Housing & Urban Poverty Alleviation, Rs. 10.08 crore to the Ministry of Urban Development and Rs. 20.73 crore to the Ministry of Rural Development, Government of India.

In the financial year 2015-16, HUDCO registered highest ever profit after tax of Rs.783.79 crore.

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NBCC (India) may gain after new order win
Sep 21,2016

NBCC (India) has secured contract worth approximately Rs 440 crore from ESIC, Ministry of Labour & Employment, Government of India for construction of 100 bedded hospital(s) at Haridwar and Dehradun (Uttarakhand) and 300 bedded hospital at Indore, Madhya Pradesh. The announcement was made after market hours yesterday, 20 September 2016.

Wipro announced global partnership with Witbe, a leading innovator in the field of test automation and services quality of experience (QoE) monitoring robots for broadband, voice and TV triple-play monitoring. This partnership is of strategic importance to Wipro, and will offer integrated test automation and video services monitoring solutions for customer deployments across set top box, mobile platforms and other handheld devices. These solutions will benefit new and existing customers of Wipro and Witbe including semiconductor players, Original Equipment Manufacturers (OEMs), Original Design Manufacturers (ODMs) and service providers in the media industry. The announcement was made after market hours yesterday, 20 September 2016.

In a separate announcement after market hours yesterday, 20 September 2016, Wipro announced that it has joined Oracles newly announced Oracle Cloud Managed Service Provider (MSP) Program. Wipro is a Diamond level member of Oracle PartnerNetwork (OPN) and has an OPN Cloud Select designation. The Wipro Boundaryless Data Center (BLDC) offering is based on an innovative IT transformational approach that enables enterprise ITaaS (IT as a Service) through a universal marketplace. BLDC is integrated with Oracle IaaS (Infrastructure as a Service) and PaaS (Platform as a Service) services, and provides a unified platform to drive hybrid IT journey for enterprises by enabling dynamic sourcing, automated provisioning, monitoring and management. In collaboration with Oracle, Wipro will build standard reference architectures, workload blueprints and continuous deployment solutions for accelerated cloud transformation.

Mahindra & Mahindra (M&M) announced regarding incorporation of a subsidiary company in Brazil namely CMN Solutions Q013 Participacoes Ltda (target). M&M along with its wholly owned subsidiary Mahindra Overseas Investment Company (Mauritius) (MOICML) would acquire 100% of the capital stock of the target which would further acquire assets of a tractor distributor in Brazil viz. Bramont Montadora Industrial e Commercial de Veiculos S.A. (Bramont). The target is a shell company engaged in tractor distribution and has no operations till date. The cost of acquisition would not exceed $8.02 million out of which M&M would pay a consideration not exceeding $8 million for its stake in the target. The consideration for acquisition in cash would be paid upon receipt of approval from the Reserve Bank of India (RBI). The indicative time period for completion of the acquisition is October 2016. The announcement was made before market hours today, 21 September 2016.

IRB Infrastructure Developers (IRB) said that it has emerged as a preferred bidder for the project of six Laning from Kishangarh n++ Udaipur n++ Ahmedabad section of around 125 kilometres in Rajasthan. The project is on design-build-finance-operate-transfer (DBFOT) (Toll) pattern, under NHDPs Phase V (Package-V). The concession period of the project is 20 years including construction period of 910 days. The company will get tolling rights on project from the appointed date. The company has offered premium of Rs 228.60 crore to National Highways Authority of India (NHAI) in terms of the concession agreement. Upon award of this project, IRBs construction order book will stand to increase to approximately Rs 11300 crore, to be executed in the next four years. This will boost the companys construction orderbook visibility for next three to four year. The announcement was made after market hours yesterday, 20 September 2016.

Piramal Enterprises said that the duly empowered Committee of Directors has approved a proposal to down-sell a part of the companys lending portfolio, forming part of its financial services business, to its wholly owned subsidiary Piramal Finance, for a net consideration of Rs 1450 crores. Relevant agreements to give effect to this would be executed. This proposal is expected to be completed by end-October 2016. The announcement was made after market hours yesterday, 20 September 2016.

TeamLease Services announced the signing of a definitive agreement to acquire Nichepro Technologies (Nichepro). The transaction remains subject to customary closing conditions and regulatory approvals. TeamLease will acquire Nichepro for an enterprise value of Rs 29.5 crores through its wholly owned subsidiary, TeamLease Staffing Services. The transaction, which will be immediately accretive to TeamLeases earnings per share, will be financed with existing financial resources and is expected to close before the end of October 2016. Nichepro is a Tier 1 staffing provider to reputed MNCS and niche product companies. The announcement was made after market hours yesterday, 20 September 2016.

Vardhman Textiles said that a meeting of the board of directors of the company will be held on 24 September 2016, to consider proposal to buy-back the fully paid-up equity shares of the company. The announcement was made after market hours yesterday, 20 September 2016.

Shares of Inox Leisure will be in focus after the Reserve Bank of India (RBI) notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) from default can now invest from existing 24% up to 49% of the paid up capital of Inox Leisure under the Portfolio Investment Scheme (PIS). The Reserve Bank of India (RBI) has stated that the company has passed resolution at its board of directors level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares by FIIs/RFPIs. The purchases could be made through primary market and stock exchanges.

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Simplex Infrastructures announces change in directorate
Sep 20,2016

Simplex Infrastructures announced that the Board of the Directors at its meeting dated 20 September 2016, has appointed Rajiv Mundhra, Whole-time Director, as Executive Chairman of the Company with effect from 21 September 2016.

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Trent redeems NCDs aggregating Rs 300 crore
Sep 20,2016

Trent has redeemed 3,000 Rated Listed Unsecured Redeemable Non - Convertible Debentures (NCDs) of face value Rs. 10 lakhs each (allotted on April 06, 2015) at par on due date i.e. 20 September 2016. Total redemption amount was Rs. 300 crore. The said NCDs were listed on the Wholesale debt market segment of National Stock Exchange of India.

Further, pursuant to Regulation 57(1) of SEBI (LODR), the Company has made full and timely payment of Principal along with interests upto the date of redemption i.e. 20 September 2016 to the holders of the aforesaid Debentures.

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Sujana Universal Industries renamed as Neulands Global Industries
Sep 20,2016

Sujana Universal Industries announced that the members of the Company passed the resolution for changing the name of the Company from Sujana Universal Industries to Neulands Global Industries through postal ballot on 18 August 2016.

The Company has made application with the Registrar of Companies, Andhra Pradesh & Telangana and the Registrar of Companies Andhra Pradesh & Telangana, has approved the name change of the Company from Sujana Universal Industries to Neulands Global Industries w.e.f. 18 September 2016.

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Welspun Corp wins awards for its Anjar manufacturing unit
Sep 20,2016

Welspun Corp announced that the Companys manufacturing unit at Anjar, Gujarat has been awarded with the following awards in the 27th Annual Convention on Quality Concepts organized by the Quality Circle Forum of India, Secunderabad (Vadodara Chapter)

n++ 3 Gold Awards for following - 2 in Allied Quality concepts i.e. Improvement through 7S implementation, Health Safety & Environment management system and 1 in Quality Circle i.e. Improvement in Spiral pipe welding.

n++ 1 Silver Award in Allied Quality Concept i.e. Improvement through Total Productive Maintenance Implementation.

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Starlit Power Systems fixes record date for bonus issue
Sep 20,2016

Starlit Power Systems has fixed 07 October 2016 as the Record Date for the purpose of the issuance of Bonus Shares by capitalizing the Securities Premium Account, to the extent that the holder of 4 Equity Shares of the Company shall be entitled to 1 Bonus Equity Share (i.e. in the ratio of 1:4).

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Board of Simplex Infrastructures appoints directors
Sep 20,2016

Simplex Infrastructures announced that the Board of the Directors ai its meeting dated 20 September 2016, has approved the following:

The Board has recommended the appointment of Dipak Narayan Basu as a Whole-time Director, subject to approval of the Members by way of Postal Ballot. D. N. Basu is not related to any Director of the Company.

Atindra Narayan Basu, has been inducted in the Board of Directors of the Company as an Additional Director, designated as Whole-time Director w.e.f. 20 September 2016 subject to approval by Members by way of Postal Ballot. A. N. Basu is not related to any Director of the Company.

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Aksh Optifibre announces resignation of director
Sep 20,2016

Aksh Optifibre announced Narendra Kumbhat, has resigned from the position of Independent Director of the Company with effect from 19 September 2016, due to personal reasons.

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Lotus Chocolate Company appoints director
Sep 20,2016

Lotus Chocolate Company announced that A. Surya Prakash Reddy has been appointed as Independent Director of the Company with effective from 05 July 2016 vide the resolution passed in the Board meeting of the Company.

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Under 5 Child Mortality Rate falls significantly by 4 points during 2014
Sep 20,2016

Focussed, committed and targeted interventions of the Government have borne positive fruits in 2014. The Under-5 Child Mortality has fallen by a significant four points during 2013-14. This was stated by the Union Minister of Health and Family Welfare, Shri J P Nadda.

Shri Nadda further mentioned that the recent RGI data released for the Sample Registration Survey (SRS) for the year 2014 indicates 8.16 percent decline in under-five mortality (during 2013-2014) as compared to 5.76 percent decline during 2012-2013. The U5MR in 2014 is 45 compared to U5MR in 2013, which stood at 49 indicating a 4 point decline. While the decline between 2012-13 was by three points ( it was 52 in 2012 and 49 in 2013). This implies that about 1.26 lakh additional under-five deaths have been averted in 2014. The Union Health Minister stated considering the significant progress in 2014, India is set to achieve MDG4 target of under-five mortality of 42 per 1000 live births in 2015.

Significant point decline (4 points and more) in the U5MR has been recorded in 15 states. These are: Assam (7), U.P (7), Rajasthan (6), Chattisgarh (4), Delhi (5), Gujarat (4), Haryana(5), Odisha (6), Himachal Pradesh (5), Jammu & Kashmir (5), Jharkhand (4), Karnataka (4), Madhya Pradesh (4), Punjab (4), West Bengal (5). 16 out of 20 states have shown a decline of more than and equal to 3 points.

Moreover, the rural urban differential in under-five mortality is reduced to 23 points in comparison to 26 points in 2013 indicating good progress in rural areas.

The success has been possible due to dedicated efforts during the neonatal period through establishment of special new-born care units (SNCU), systematic home visits by ASHA workers to all new-borns for improving breastfeeding practices, improvement in quality institutional delivery.

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Wipro joins Oracle Cloud Managed Service Provider Program
Sep 20,2016

Wipro has joined Oracles newly announced Oracle Cloud Managed Service Provider (MSP) Program. Wipro is a Diamond level member of Oracle PartnerNetwork (OPN) and has an OPN Cloud Select designation.

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Wipro forms global partnership with Witbe
Sep 20,2016

Wipro and Witbe, a leading innovator in the field of test automation and service quality of experience monitoring robots for broadband, voice and TV Triple-Play monitoring, unveiled their global partnership.

This partnership is of strategic importance to Wipro and will offer integrated test automation and video services monitoring solutions for customer deployments across set top box, mobile platforms and other handheld devices.

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Team Lease Services acquires Nichepro Technologies
Sep 20,2016

Team Lease Services has signed definitive agreement to acquire Bangalore headquartered Nichepro Technologies for a cash consideration of Rs 29.5 crore through its wholly owned subsidiary, Teamlease Staffing Services.

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