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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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Bharti Airtel announced change in directorate
May 10,2017

Bharti Airtel announced that Mark Chin Kok Chong was appointed as alternate director to Chua Sock Koong for the purpose of attending the Board and Committee Meetings of the Company held on 09 May 2017 and has ceased to be an alternate director with the conclusion of the Board and Committee meetings.

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Dish TV India gets CCI approval for scheme of arrangement
May 10,2017

Dish TV India announced that the Competition Commission of India on 04 May 2017 has considered and accorded its approval for the said combination as embodied in the Scheme of Arrangement among Dish TV India and Videocon D2H.

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Board of Aurionpro Solutions approves scheme of arrangement
May 10,2017

Aurionpro Solutions announced that the Board of Directors at its meeting held on 09 May 2017 has approved the Scheme of Arrangement for the demerger of some of its non-core business divisions into its wholly owned subsidiary Trejhara Solutions subject to the receipt of the requisite approvals under the applicable laws.

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Alembic advances after reporting good Q4 earnings
May 10,2017

The result was announced after market hours yesterday, 9 May 2017.

Meanwhile, the S&P BSE Sensex was up 172.91 points, or 0.58% at 30,106.16. The S&P BSE Small-cap index was up 112.92 points, 0.73% at 15,657.55.

On the BSE, 1.76 lakh shares were traded on the counter so far as against the average daily volumes of 3.99 lakh shares in the past one quarter. The stock had hit a high of Rs 49.70 and a low of Rs 48.50 so far during the day.

The stock had hit a 52-week high of Rs 51.65 on 24 April 2017 and a 52-week low of Rs 32.40 on 22 November 2016. The stock had outperformed the market over the past one month till 9 May 2017, advancing 21.37% compared with the Sensexs 0.76% rise. The scrip had also outperformed the market over the past one quarter advancing 26.53% as against the Sensexs 5.66% rise.

The small-cap company has equity capital of Rs 53.41 crore. Face value per share is Rs 2.

Alembic is engaged in manufacturing and marketing of fermentation and chemistry based active pharmaceuticals ingredients (API).

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Jubilant Industries intimates of resumption of operations of JACPL at Gajraula
May 10,2017

Jubilant Industries announced that the National Green Tribunal (NGT) has passed an order allowing the company to restart manufacturing operations in both the units of JACPL at Gajraula in compliance with the directions issued by the NGT in this regard. Accordingly, Jubilant Agri and Consumer Products (Companys wholly owned material Subsidiary) has complied with the directions issued by NGT and have, with effect from 09 May 2017, restarted its manufacturing operations in Gajraula.

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Elgi Equipments to pay dividend
May 10,2017

Elgi Equipments announced that dividend will be paid on 25 August 2017, if approved at AGM.

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GMDC gallops after blockbuster Q4 outcome
May 10,2017

The Q4 result was announced after market hours yesterday, 9 May 2017.

Meanwhile, the S&P BSE Sensex was up 135.47 points or 0.45% at 30,068.72. The S&P BSE Mid-Cap index was up 116.13 points or 0.78% at 14,937.26

On BSE, so far 3.92 lakh shares were traded in the counter as against average daily volume of 73,637 shares in the past one quarter. The stock hit a high of Rs 145 in intraday trade so far, which is 52-week high for the counter. The stock hit a low of Rs 134.60 so far during the day. The stock had hit a 52-week low of Rs 64.70 on 17 May 2016.

The mid-cap company has equity capital of Rs 63.60 crore. Face value per share is Rs 2.

Gujarat Mineral Development Corporation (GMDC) is primarily engaged in exploration and development of mineral resources. The Gujarat state government currently holds 74% stake in GMDC (as per the shareholding pattern as on 31 March 2017).

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Board of Petronet LNG declares 1:1 bonus issue
May 10,2017

The Board of Directors of Petronet LNG at its meeting held on 09 May 2017 has declared Bonus share(s) in the ratio of 1:1 on Rs. 10/- each fully paid up Equity Share and has also approved increase of Authorised Share Capital of the Company from Rs. 1200 crore to Rs. 3000 crore subject to the approval of Shareholders of the Company.

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InterGlobe Aviation slips after weak Q4 outcome
May 10,2017

The result was announced after market hours yesterday, 9 May 2017.

Meanwhile, the S&P BSE Sensex was up 130.62 points, or 0.44% to 30,063.87.

On the BSE, 26,000 shares were traded in the counter so far, compared with average daily volumes of 61,632 shares in the past one quarter. The stock had hit a high of Rs 1,135 and a low of Rs 1,118 so far during the day. The stock hit a 52-week high of Rs 1,170 on 21 April 2017. The stock hit a 52-week low of Rs 790 on 11 August 2016.

The stock had outperformed the market over the past one month till 9 May 2017, rising 4.93% compared with 1.21% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 34.20% as against Sensexs 5.81% rise.

The large-cap company has equity capital of Rs 361.47 crore. Face value per share is Rs 10.

InterGlobe Aviations earnings before interest, taxation, depreciation, amortization and rent costs (EBITDAR) declined 6.6% to Rs 1449.16 crore in Q4 March 2017 over Q4 March 2016. EBITDAR margin contracted to 29.9% in Q4 March 2017, from 37.9% in Q4 March 2016. InterGlobe Aviations board recommended a final dividend of Rs 34 per share for the year ended March 2017 (FY 2017).

InterGlobe Aviation is the operator of low cost passenger airline IndiGo.

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3 states together account for half of total investments attracted by real estate & construction sector: Study
May 10,2017

Maharashtra, Uttar Pradesh (UP) and Gujarat together account for over half of the total investments attracted by real estate and construction sector in India as of December 2016, noted a recent study by apex industry body ASSOCHAM.

n++There are about 3,489 projects worth Rs 14.5 lakh crore in the construction and real estate sector that are currently live across India,n++ according to the study titled Construction and real estate investment: State-level analysis, conducted by ASSOCHAM.

While Maharashtra alone accounts for lions share of about 25 per cent in total investments attracted by real estate and construction industry in India as of December 2016 followed by UP (13 per cent), Gujarat (13 per cent), Karnataka (10 per cent) and Haryana (nine per cent).

n++The centre and state governments must introduce a single-window clearance system at the earliest to avoid time and cost overruns that are impacting the growth and development of real estate sector in India,n++ said Mr D.S. Rawat, national secretary general of ASSOCHAM while releasing the findings of the chambers study.

n++Government should also grant industry status to the sector to counter the apathy of banks in financing realty projects,n++ said Mr Rawat.

n++As for the sector, the companies in the real estate space must keep looking for long-term financial resources to become independent,n++ he added.

The study prepared by ASSOCHAM Economic Research Bureau (AERB) highlighted that almost 90 per cent of construction and real estate investments are concentrated in top 10 states.

So far as the investment growth trend in this sector is concerned, the sector touched highest rate of 13.5 per cent in 2010 but recorded sharp downfall till 2013 whereby it recorded negative growth of about eight per cent but it picked up in 2014 to reach about three per cent and again fell to (-) 2 per cent in 2015.P>However, the real estate and construction investments recorded a positive growth rate of 2.5 per cent in 2016 as such the sector clocked compounded annual growth rate (CAGR) of (-) 0.7 per cent between 2011-16.

Among states, Odisha has recorded highest CAGR of about 37 per cent in investments attracted by realty sector during 2011-16 followed by UP (nine per cent), Maharashtra (three per cent), Kerala (1.6 per cent) and Andhra Pradesh (1.4 per cent) while rest all top states clocked negative growth in this regard.

It is worrisome to note that 70 per cent of construction and real estate investment projects remained non-starter in India since 2013.

Secondly, significant growth has also been recorded in projects that remained under different stages of implementation i.e. from 63 per cent in 2009 to about 77 per cent in 2015 which moderated to 72 per cent in 2016.

Among states, over 95 per cent of realty investment projects are under implementation in West Bengal followed by UP (90 per cent) and Punjab (88 per cent).

High under-implementation rate leads to time and cost overruns. As such of over 2,300 construction and real estate projects that are under-implementation, 886 projects are facing an average delay of 39 months and about 93 per cent of these projects are in the housing sector while rest are commercial complex.

More than 95 per cent of delayed 886 projects i.e. 845 projects are accruing to private sector ownership while public sector ownership has only 41 such projects.

Real estate projects in Punjab are facing maximum delays to the tune of 48 months followed by Telangana (45 months), West Bengal, Odisha and Haryana (44 months).

On a positive note, while the new investment activities in real estate and construction sector have recorded negative growth between 2011 and 2015, it recorded a significant spike in 2016 (32 per cent).

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InterGlobe Aviation in spotlight after Q4 results
May 10,2017

InterGlobe Aviations net profit fell 24.6% to Rs 440.30 crore on 18.5% growth in revenue from operations to Rs 4848.21 crore in Q4 March 2017 over Q4 March 2016. The company earnings before interest, taxation, depreciation, amortization and rent costs (EBITDAR) declined 6.6% to Rs 1449.16 crore in Q4 March 2017 over Q4 March 2016. EBITDAR margin contracted to 29.9% in Q4 March 2017, from 37.9% in Q4 March 2016. The result was announced after market hours yesterday, 9 May 2017. InterGlobe Aviations board recommended a final dividend of Rs 34 per share for the year ended March 2017 (FY 2017).

On a consolidated basis, Bharti Airtels net profit fell 69.22% to Rs 470.60 crore on 12.12% decline in net sales to Rs 21934.60 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 9 May 2017.

Drug major Lupin clarified to the media news after market hours yesterday, 9 May 2017. The company said that recently its Aurangabad facility underwent an inspection by the US Food and Drug Administration (USFDA). The inspection was completed on 26 April 2017, subsequent to which, the USFDA issued Form 483 citing eight observations. The company is in the midst of putting together a response to address the observations.

Sintex Industries said that the foreign currency convertible bonds (FCCB) Committee of its board of directors allotted 47.56 lakh equity shares to FCCB holders on the exercise of their conversion right. The announcement was made after market hours yesterday, 9 May 2017.

Atul said that the joint venture agreements for the partnership with Akzo Nobel Chemicals International B.V. (Akzo) have been executed between the company, its affiliates and Akzo. The announcement was made after market hours yesterday, 9 May 2017.

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Board of Ador Multi Products decides to discontinue Chennai trading division
May 09,2017

The Board of Directors of Ador Multi Products at its meeting held on 09 May 2017 has approved discontinuation of Chennai trading division due to non viability.

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Board of Vijaya Bank approves raising Rs 1000 crore of CET I Capital
May 09,2017

The Board of Directors of Vijaya Bank has accorded its approval for raising Rs 1000 crore of Common Equity Tier I capital for the FY 2017-18. Further, the board has approved to raise Additional Tier I Capital to the extent of shortfall, if any in raising CET I capital on or before 31 March 2018.

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Board of Arcotech approved sub-division of equity shares
May 09,2017

Arcotech announced that the Board of Directors at its meetind held on 09 May 2017 has approved the sub-division of equity shares of the Company from existing Rs 10 per share to face value of Rs 2 per share, subject to approval of shareholders.

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Board of Alicon Castalloy approves allotment of shares to Enkei Corporation, Japan
May 09,2017

Alicon Castalloy announced that the Board of Directors of the Company at its meeting held on 09 May 2017 has decided to issue 8,60,000 equity shares of Rs 5 each to Enkei Corporation, Japan at Rs 478 per share on preferential basis. The Board has convened an EGM on 08 June 2017 for obtaining the necessary approvals.

With the proposed allotment of 8,60,000 equity shares, the holding of Enkei in Alicon Castalloy will increase from 8.98% to 14.94% of the expanded capital.

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