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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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ICICI Bank in focus as ICICI Prudential IPO to open for bidding
Sep 19,2016

Shares of ICICI Bank will be in focus as the initial public offer (IPO) of private sector life insurance company ICICI Prudential Life Insurance Company (ICICI Prudential) opens for bidding today, 19 September 2016. The IPO closes on 21 September 2016. The price band for the IPO has been fixed at Rs 300 to Rs 334 per share. The offer comprises sale up to 18.13 crore equity shares of ICICI Prudential, representing about 12.63% of its equity share capital for cash, through an offer for sale (OFS) by ICICI Bank. The entire proceeds from the OFS will be paid to ICICI Bank.

Power Grid Corporation of India said that the companys board of directors in their meeting held on 16 September 2016 has accorded investment approval for System Strengthening in Southern Region - XXI at an estimated cost of Rs 562.25 crore, with commissioning schedule of 30 months progressively from the date of investment approval. The announcement was made after market hours on Friday, 16 September 2016.

Axis Bank announced that the bank has kept its Marginal Cost of Funds based Lending Rate (MCLR) unchanged after a latest review. The banks Marginal Cost of Funds based Lending Rate (MCLR) for overnight loans will be 8.85%, the rate for one month will be 8.9% and for three months it will be 9.1%. The MCLR on 6-month loans will be 9.2% and for one-year loans the rate will be 9.25%, the bank said. MCLR on two-year loans will be 9.35% and for three-year loans the rate will be 9.4%. The rates are with effect from 17 September 2016. The announcement was made after market hours on Friday, 16 September 2016.

Separately, Axis Bank said that the bank has signed a Share Purchase Agreement with IFCI for acquisition of 73.28 lakh equity shares (13.67% of total outstanding shares) of face value of Rs 10 per share in Assets Care and Reconstruction Enterprise (ACRE) from IFCI at Rs 31 per share, resulting in a total cash consideration of Rs 22.72 crore. The transaction is subject to requisite regulatory approvals, including from Reserve Bank of India, Axis Bank said. The announcement was made after market hours on Friday, 16 September 2016.

The Reserve Bank of India notified that the foreign shareholding by American Depository Receipts (ADR)/Global Depository Receipts (GDR)/Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs)/Non Resident Indian (NRIs)/Foreign Direct Investment (FDIs)/Persons of Indian Origin (PIOs) in South Indian Bank has reached the trigger limit. Hence further purchases of equity shares of this company would be allowed only after obtaining prior approval of the Reserve Bank of India. The announcement was made after market hours on Friday, 16 September 2016.

IDFC said the company issued Commercial Papers for an aggregate amount of Rs 700 crore on 12 September 2016 having maturity date of 29 September 2016 which has been rated as A1+ by ICRA. Instruments with these rating are considered to have a strong degree of safety regarding timely payment of financial obligations and such instruments carry lowest credit risk. The aggregate amount of Commercial Paper outstanding as on date is Rs 700 crore. The announcement was made on Saturday, 17 September 2016.

Vipul received environmental clearance from the State Environment Impact Assessment Authority, Haryana, for its project Aarohan on Golf Course road in Gurgaon. Vipul said the company had raised debt from DMI Finance (DMI) to the tune of Rs 175 crore, and the money was utilized for pre-operative expenses of Project Aarohan.

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Riga Sugar Company appoints director
Sep 17,2016

Riga Sugar Company announced that Nirmal Kumar Parasramka has been appointed as Additional Director of the Company with effect from 05 September 2016.

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Superb Papers changes main object to agro based industry
Sep 17,2016

Superb Papers has received approval from the shareholders, Registrar of Companies and other requisite authorities for change in main object of the Company from paper industry to agro based industry w.e.f. 08 September 2016.

Further, the Company has also received approval from the shareholders, Registrar of Companies and other requisite authorities for change in name of the Company from Superb Papers to Sumuka Agro Industries w.e.f. 15 September 2016.

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Ranjit Securities announces resignation of company secretary
Sep 17,2016

Ranjit Securities announced that Mohd. Akhtar Hussain, Company secretary cum compliance officer of the company has tender his resignation before the board w.e.f. 01 October 2016.

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Ludlow Jute & Specialities announces resignation of company secretary & compliance officer
Sep 17,2016

Ludlow Jute & Specialities announced that Minu Rohila has resigned as Company Secretary & Compliance Officer of the Company with effects from 17 September 2016.

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Bajaj Hindusthan Sugar appoints director
Sep 17,2016

Bajaj Hindusthan Sugar announced that Shalu Bhandari has been appointed as an additional director of the Company w.e.f. 17 September 2016 in accordance with Section 149 of the Companies Act, 2013 and Regulation 17 of the SEBI (LODR) by the Board of Directors of the Company at its meeting held on 12 September 2016.

Further, the intermittent vacancy in the office of Woman Director caused by the sad demise of Kiran Anuj stands filled w.e.f. 17 September 2016 consequent upon the aforesaid appointment.

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IL&FS Engineering & Construction Co announces resignation of director
Sep 17,2016

IL&FS Engineering and Construction Company announced that Alpa Sheth, Non-Executive Independent Director of the Company, vide e-mail dated 16 September 2016, has tendered her resignation from the Directorship of the Company with effect from 16 September 2016.

Notice of Resignation of Sheth will be placed in the next meeting of the Board of Directors of the Company for its noting.

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Saumya Consultants appoints company secretary and complaince officer
Sep 17,2016

Saumya Consultants announced that Ankita Drolia, is being appointed as Company Secretary and Compliance Officer of the Company with effect from 16 September 2016, pursuant to section 203 of the Companies Act, 2013 and Regulation 6 & 30 of SEBI (Listing and Disclosure Requirement) Regulation 2015.

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S S Organics appoints company secretary
Sep 17,2016

S S Organics announced that Yerukalapudi Hari Priya has been appointed as Company Secretary of the Company with effect from 16 September 2016.

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Brigade Enterprises acquires shares in Mysore Projects
Sep 17,2016

Brigade Enterprises has subscribed to the equity shares issued by Mysore Projects and has also acquired the equity shares from the existing shareholders of Mysore Projects. Due to this, Mysore Projects has become a wholly owned subsidiary of the Company.

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Board of Motherson Sumi Systems approves allotment of shares under QIP
Sep 17,2016

Motherson Sumi Systems announced that in respect of the QIP Offering, the Board of Directors of the Company at its meeting held on 16 September 2016, approved the issue and allotment of 62,884,827 Equity Shares to qualified institutional buyers at the issue price of Rs. 317/- per Equity Share, (including a premium of Rs. 316/- per Equity Share), constituting a discount of 2.79% to the floor price of Rs. 326.10 per share aggregating to Rs. 19,934,490,159/-.

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Crest Ventures incorporates wholly owned subsidiary
Sep 17,2016

Crest Ventures announced that the Company have incorporated a wholly owned subsidiary viz. Crest Capital and Investment on 16 September 2016.

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Symphony allots equity shares
Sep 17,2016

Symphony announced that the Bonus Shares Allotment Committee constituted by the Board of Directors of the Company at its meeting held on 17 September 2016 has approved allotment of 3,49,78,500 fully paid bonus equity shares of face value of Rs 2 each to the members holding shares as on record date i.e. 15 September 2016.

Pursuant to the above, the paid up capital of the Company stands increased to 699,57,000 equity shares of Rs 2 each.

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Brigade Enterprises provides update on subsidiary
Sep 17,2016

Brigade Enterprises announced that Mysore Projects, Wholly Owned Subsidiary of the Company has entered in to a Joint Development Agreement with Cornerstone Bay East Developers (Land Owner) to develop 47 acres at Varthur and Gunjur, Off Whitefield region, Bangalore which will have a developable area of around 5 million sq. ft.

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IDFC issues Commercial Paper aggregating Rs 700 cr
Sep 17,2016

IDFC announced that the Company issued Commercial Papers for an aggregate amount of Rs. 700 crore on 12 September 2016 having maturity date of 29 September 2016 which has been rated as A1+ by ICRA. Instruments with the aforesaid rating are considered to have a strong degree of safety regarding timely payment of financial obligations and such instruments carry lowest credit risk.

The aggregate amount of Commercial Paper outstanding as on date is Rs. 700 crore.

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