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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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Cabinet approves one time relaxation in the cost norms and guidelines of MIDH
Oct 27,2016

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi has given its approval for one time relaxation of Mission for Integrated Development of Horticulture (MIDH) cost norms for implementation of PMs Special package for Jammu & Kashmir towards restoration of damaged horticulture areas and development of horticulture in State. CCEA approved the following:

a. Import of planting material at the maximum rate of Rs.460 per plant for 329 hectares of new apple orchards and restoration of 3900 hectares of old damaged apple orchards. The rate of financial assistance shall be 90% i.e 90% shall be borne by the Government and 10% by the beneficiary farmer.

b. Import of 4 wire trellis system at the rate of Rs.9.8 lakh per ha for 329 ha of new apple orchards. The rate of financial assistance shall be 50% i.e. 50% shall be borne by the Government and 50% by the beneficiary farmer.

c. Applicability of MIDH cost norms for the interventions approved for implementation of PMs Package in J&K till financial year 2018-19.

d. Additional fund requirement of Rs. 111.89 crore, Rs. 171.66 crore, and 166.48 crore amounting to Rs. 450 crore in FY 2016-17, 2017-18 and 2018-19 respectively as 90% Government of India share in the overall package of Rs.500 crore.

PMs special package for J&K included Rs.500 crore towards restoration of damaged horticulture areas and development of horticulture in the State.

One time relaxation in MIDH cost norms was approved for import of special varieties of plants for better survival, early flowering and enhanced fruiting apple planting materials and four wire trellies system which may increase the productivity 3-4 times.

It will benefit about 21,000 orchardists located in more than 491 villages where horticulture areas of more than 5200 ha. was severely damaged by floods/landslides in September 2014.

CCEA approval would help in setting up of 329 ha of new apple orchards and restoration of 3900 ha of damaged orchards over a period of 3 years with overall financial implication of Rs. 500 crores with Rs. 450 crores as central share.

High and medium density apple plantation would generate round the year employment for 3300 and 18,000-20,000 people respectively. These initiatives will also result in employment in allied sectors such as grading/packing units. CA/Cold storage units and transportation sector etc. As the high density plantation involves technology and regular up keep of orchards, therefore, it will also result in wage enhancement n overall horticulture sector due to the increase in the farmers income as a result of the increase productivity.

It may be recalled that in 2014, the State had suffered due to the devastating floods of September, 2014. The infrastructure was destroyed due to floods. After the floods, the Prime Minister visited Kashmir on 23rd October, 2014 to spend time with those who were affected by floods and understand their problems and status of their relief and rehabilitation work. He met many delegations, from political parties, from trade representatives, from NGOs and citizens groups.

During his visit he talked about improving road connectivity and overall development of the State. He also announced to provide Rs.570 Cr. under Prime Ministers National Relief Fund (PMNRF) for providing assistance for construction of houses of the affected families. An amount of Rs. 565 Cr. has been already provided to 2.18 lakh affected families directly through their bank accounts.

The Government of India has been working on post flood long term reconstruction measures to improve the infrastructure in the State. The Government has been proposing to work towards development of key infrastructure in thrust sectors like Power, Health, Roads and Highways, Tourism, Textile, Food processing, HRD and Water resources etc.

Considering above, and the commitment for development of the State of J&K, the Honble PM on his visit to J&K State on 07.11.2015 announced Prime Ministers Development Package for the State of J&K with financial assistance of over Rs.80,000 Cr.

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AksharChem (India) to shut down plant at Mehsana
Oct 27,2016

AksharChem (India) announced that the plant of the Company at Village Indrad, Dist: Mehsana will remain shut down for 15 days from 29 October 2016 due to Diwali holidays as well as some breakdown maintenance. The shutdown is expected to last up to 12 November 2016.

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Apcotex Industries gets High Court approval for scheme of amalgamation
Oct 27,2016

Apcotex Industries announced that the Honble High Court of Judicature at Bombay (High Court) on 27 October 2016 has sanctioned the Scheme of Amalgamation of Apcotex Solutions India with Apcotex Industries (the Company) and their respective Shareholders.

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Ajanta Pharma to pay interim dividend
Oct 27,2016

Ajanta Pharma announced that interim dividend shall be paid to shareholders on or after 10 November 2016.

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Cabinet approves the new Agreement on Trade, Commerce and Transit between India and Bhutan
Oct 27,2016

The Union Cabinet, chaired by the Prime Minister, Shri Narendra Modi, has approved an Agreement on Trade, Commerce and Transit between India and Bhutan.

The bilateral trade relations between India and Bhutan are governed by the Agreement on Trade, Commerce and Transit between the Government of India and Bhutan. The Agreement provides for a free trade regime between two countries. The Agreement also provides for duty free transit of Bhutanese merchandise for trade with third countries.

The Agreement was renewed on 29th July 2006 for a period of ten years. The validity of this Agreement was extended, with effect from 29th July 2016, for a period of one year or till the new agreement comes into force, through exchange of Diplomatic notes.

The traditionally unique bilateral relations characterized by trust and understanding between India and Bhutan have matured over the years and would be further strengthened by execution of the proposed Agreement on Trade, Commerce and Transit Agreement.

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Cabinet approves exchanging of land between AAI and Government of Odisha for widening of road at Biju Patnaiak Airport, Bhubaneshwar
Oct 27,2016

The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved the exchanging of Airports Authority of Indias (AAI) land measuring 1.6 acres with an equivalent land area of 1.6 acres offered by Odisha Government.

The State Government has offered 1.6 acres of land in lieu of 1.6 acres land of AAI and agreed to undertake and relocate all the existing infrastructure of AAI on the subject land on its own cost. Further, the land offered by the State Government is contiguous to existing airport and it will be used by AAI for construction of Parallel Taxi Track. The exchange of land is not only beneficial to the State Government & AAI but also to the people.

Odisha Government wants to widen the State Government road near Bhubaneswar Airport (known as Ekamara Marg/Palashpalli Road) for streamlining the security arrangements of the VIP movements and creating buffer zone for public use. For this purpose requires 1.6 acres land of AAI is required by the State Government.

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Yash Chemex to hold board meeting
Oct 27,2016

Yash Chemex will hold a meeting of the Board of Directors of the Company on 14 November 2016 to consider, approve and take on record the unaudited standalone Financial Results of the Company for the 2nd quarter and half year ended on September 30, 2016.

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Mihika Industries to hold board meeting
Oct 27,2016

Mihika Industries will hold a meeting of the Board of Directors of the Company on 10 November 2016 to consider and approve the Unaudited Financial Results for the quarter ended September 30, 2016.

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JK Agri Genetics(New) to hold board meeting
Oct 27,2016

JK Agri Genetics(New) will hold a meeting of the Board of Directors of the Company on 7 November 2016 to consider and approve the Unaudited Financial Results of the Company for the second quarter ended September 30, 2016.

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IND Renewable Energy to hold board meeting
Oct 27,2016

IND Renewable Energy will hold a meeting of the Board of Directors of the Company on 12 November 2016 Quarterly Results

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Healthfore Technologies to hold board meeting
Oct 27,2016

Healthfore Technologies will hold a meeting of the Board of Directors of the Company on 7 November 2016 to consider and approve the Unaudited Financial Results of the Company for the quarter ended September 30, 2016.

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Shri Niwas Leasing & Finance to hold board meeting
Oct 27,2016

Shri Niwas Leasing & Finance will hold a meeting of the Board of Directors of the Company on 12 November 2016 to consider and take on record Unaudited Quarterly Financial Results of the Company for the Quarter ended on September 30, 2016.

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Talwalkars Better value Fitness to hold board meeting
Oct 27,2016

Talwalkars Better value Fitness will hold a meeting of the Board of Directors of the Company on 10 November 2016 to take on record the unaudited standalone and consolidated financial results of the Company for the quarter and half year ended September 30, 2016.

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Advance Multitech to hold board meeting
Oct 27,2016

Advance Multitech will hold a meeting of the Board of Directors of the Company on 12 November 2016 to consider and take on record unaudited financial results of the Company for the quarter ended September 30, 2016.

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Florence Investech to hold board meeting
Oct 27,2016

Florence Investech will hold a meeting of the Board of Directors of the Company on 7 November 2016 to consider and approve the Unaudited Financial Results of the Company for the Second Quarter ended September 30, 2016.

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