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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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GHCL gets upgradation in credit ratings
Sep 16,2016

GHCL has received revision in credit ratings from CARE for the Companys bank facilities.

Long term bank facilities - CARE A- (Upgraded from CARE BBB+)
Short term bank facilities - CARE A2+ (Upgraded from CARE A3+)

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Maharashtra Polybutenes announces resignation of company secretary
Sep 16,2016

Maharashtra Polybutenes announced that Kumari Shikha has resigned from the post of Company Secretary and Compliance officer of the Company, w.e.f. 10 September 2016.

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Union Bank of India announces appointment of Executive Director
Sep 16,2016

Union Bank of India announced that the Central Government in exercise of the powers conferred by clause (a) of sub-section (3) of Section 9 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970/1980 read with sub-clause (1) of clause 3 and sub clause (1) of clause 8 of the Nationalised Banks (Management and Miscellaneous Provisions) Scheme, 1970/1980, vide notification dated 15 September 2016 has appointed Atul Kumar Goel, General Manager, Allahabad Bank as Executive Director in Union Bank of India for a period of 3 years w.e.f. the date of his taking over charge of the post or until further order, whichever is earlier.

Atul Kumar Goel has taken over charge of the post of Executive Director of Union Bank of India on September 15, 2016.

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Raymond gains on buzz of ramp down in jobs with technological intervention
Sep 16,2016

Meanwhile, the S&P BSE Sensex was up 329.97 points or 1.16% at 28,742.86.

On BSE, so far 24,000 shares were traded in the counter as against average daily volume of 27,080 shares in the past one quarter. The stock hit a high of Rs 478 and a low of Rs 465 so far during the day. The stock had hit a 52-week high of Rs 495 on 21 July 2016. The stock had hit a 52-week low of Rs 351.50 on 12 February 2016. The stock had outperformed the market over the past one month till 15 September 2016, advancing 10.01% compared with 0.93% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, gaining 0.12% as against Sensexs 6.31% rise.

The small-cap company has equity capital of Rs 61.38 crore. Face value per share is Rs 10.

Raymonds CEO Sanjay Behl was quoted as saying that through technological intervention the company is looking to scale down the number of jobs to 20,000 in its manufacturing centres in the next three years, from existing strength of about 30,000 people.

On a consolidated basis, Raymond reported net loss of Rs 16.61 crore in Q1 June 2016, higher than net loss of Rs 14.47 crore in Q1 June 2015. Net sales rose 4.8% to Rs 1057.36 crore in Q1 June 2016 over Q1 June 2015.

Raymond offers end-to-end solutions for fabrics and garmenting.

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Sanmit Infra to hold EGM
Sep 16,2016

Sanmit Infra announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 14 October 2016 .

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Polyplex Corporation gains after acquiring entire stake in step down subsidiary
Sep 16,2016

The announcement was made after market hours yesterday, 15 September 2016.

Meanwhile, the BSE Sensex was up 327.95 points, or 1.15%, to 28,740.84.

High volumes were witnessed on the counter. On BSE, so far 9,943 shares were traded in the counter, compared with an average volume of 4,072 shares in the past one quarter. The stock hit a high of Rs 300 and a low of Rs 290 so far during the day. The stock hit a 52-week high of Rs 315 on 12 August 2016. The stock hit a 52-week low of Rs 195.90 on 6 April 2016. The stock had underperformed the market over the past one month till 15 September 2016, falling 1.69% compared with 0.93% rise in the Sensex. The scrip had also underperformed the market in past one quarter, gaining 3.45% as against Sensexs 6.31% rise.

The small-cap company has an equity capital of Rs 31.98 crore. Face value per share is Rs 10.

Polyplex Corporation said that post acquisition of entire equity stake in its step down subsidiary namely, Peninsula Beverages and Foods Company, it has become direct wholly owned subsidiary of the company. On 12 August 2016, the board of directors of Polyplex Corporation had approved the proposal for acquisition of entire equity stake in its step down wholly owned non-material subsidiary company, Peninsula Beverages and Foods Company from companys wholly owned subsidiary, namely Polyplex (Asia) Pte Limited, Singapore. Peninsula Beverages & Foods Company engages in the wholesale trading of food and beverage products.

Polyplex Corporations net profit rose 2050.7% to Rs 16.13 crore on 3.6% decline in net sales to Rs 233.67 crore in Q1 June 2016 over Q1 June 2015.

Polyplex Corporation is among the worlds largest manufacturers of thin polyethylene terephthalate (PET) film. The company runs integrated manufacturing and distribution operations in six countries viz. India, Thailand, Turkey, USA, China and Netherlands.

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Outcome of board meeting of Crazy Infotech
Sep 16,2016

Crazy Infotech announced that the Board of Directors of the Company at its meeting held on 16 September 2016, inter alia, has considered and approved the following matter:

1. Scheme of Arrangement for Reduction of Capital of under Section 100 to 104 of the Companies Act, 1956.

2. BSE shall be the Designated Stock Exchange for co-ordinating with SEBI for the above Scheme.

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IDBI Bank announces change in directorate
Sep 16,2016

IDBI Bank announced that the Government of India, Ministry of Finance, Department of Financial Services vide their notification dated 15 September 2016 has appointed Krishna Prasad Nair, Executive Director and Gurudeo Madhukar Yadwadkar, Executive Director as Deputy Managing Directors on the Board of IDBI Bank with effect from 15 September 2016.

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Mphasis to hold EGM
Sep 16,2016

Mphasis announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 13 October 2016 .

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Public sector banks nudge higher
Sep 16,2016

Bank of India (up 2.43% at Rs 122.05), Indian Bank (up 2% at Rs 218.85), Bank of Baroda (up 1.98% at Rs 169.90), State Bank of India (up 1.78% at Rs 260.35), Canara Bank (up 1.71% at Rs 309.90), IDBI Bank (up 1.24% at Rs 77.35), United Bank of India (up 0.91% at Rs 22.15) and Corporation Bank (up 0.44% at Rs 45.25) edged higher.

Meanwhile, the S&P BSE Sensex was up 353.78 points or 1.25% at 28,766.67.

The union finance minister Arun Jaitley is scheduled to hold a quarterly performance review meeting with the Chief Executive Officers (CEOs) and Managing Directors (MDs) of public sector banks (PSBs) and financial institutions(FIs) today, 16 September 2016. During the one day meeting, Jaitley will review the overall performance of PSBs in the current financial year (FY 2017) and last quarter in particular. The finance minister will review the progress of credit and growth and asset quality especially with regard to priority sectors lending including credit flow to agriculture and insurance sector, MSE, minorities, SC & ST, education and housing loan among others. The issues relating to financial inclusion and literacy as well as non performing assets (NPAs) are also likely to be discussed during the one day meeting, the government said in a press statement yesterday, 15 September 2016.

Union Bank of India was up 1.74% at Rs 146. The bank said that on 15 September 2016 it issued 10,000 non-convertible, unsecured subordinated Basel III compliant perpetual debt instruments eligible for inclusion in Additional Tier 1 capital. The bonds are issued for face value of Rs 10 lakh each at par aggregating to Rs 1000 crore on private placement basis bearing 9.50% per annum coupon payable annually. The announcement was made after market hours yesterday, 15 September 2016.

Punjab National Bank was up 2.05% at Rs 141.55. The bank said that consequent upon receipt of capital funds to the tune of Rs 2112 crore from the Government of India on 14 September 2016, the bank has issued and allotted 16.43 crore equity shares at Rs 128.49 per equity share on preferential basis to Government of India. The announcement was made after market hours yesterday, 15 September 2016.

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Outcome of board meeting of Ricoh India
Sep 16,2016

Ricoh India announced that the Board of Directors of the Company in their emergent meeting held on 16 September 2016 have decided to convene an Extra-ordinary General Meeting of the members of the Company on 14 October 2016 at 10:00 AM at Hotel Hyatt Regency Mumbai, Sahar Airport Road, Andheri East, Mumbai - 400 099.

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Safal Securities fixes record date for consolidation of shares
Sep 16,2016

Safal Securities has fixed 14 October 2016 as the Record Date for the purpose of Consolidation of the Equity Shares of the Company from Rs. 5/- to Rs. 10/- each per Equity Shares.

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Aurionpro Solutions completes acquisition of Spikes Securities Inc.
Sep 16,2016

Aurionpro Solutions has completed the acquisition and subsequent merger of Spikes Security Inc. with Aurionpros Enterprise Security Division. The Silicon Valley based subsidiary for enterprise security will operate under the new brand name of Cyberinc - An Aurionpro Company and will be headquartered in Los Gatos, California.

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Tube Investments gains after forming JV with Absolute Speciality to open bicycle cafes
Sep 16,2016

The announcement was made after market hours yesterday, 15 September 2016.

Meanwhile, the BSE Sensex was up 344.17 points, or 1.21%, to 28,757.06.

On BSE, so far 3,411 shares were traded in the counter, compared with an average volume of 43,429 shares in the past one quarter. The stock hit a high of Rs 604.95 so far during the day, which is a record high for the stock. The stock hit a low of Rs 593.90 so far during the day. The stock hit a 52-week low of Rs 352 on 25 February 2016. The stock had outperformed the market over the past one month till 15 September 2016, rising 4.35% compared with 0.93% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 30.57% as against Sensexs 6.31% rise.

The large-cap company has an equity capital of Rs 37.47 crore. Face value per share is Rs 2.

Tube Investments of India (TIIL) announced that it has entered into a 50-50 joint venture with Chennai based Absolute Speciality Foods Chennai to open bicycle cafes in select locations in India, to be operated under the brand name Ciclo Cafn++. Ciclo Cafn++ is a popular brand name in hospitality and cycling circuits. In the present operations of the Ciclo Cafn++ outlet in Chennai, TII owns and operates the bicycles business and Absolute Speciality owns and operates the cafn++ foods and beverages (F&B) business. This would also become part of the joint venture company. Under the joint venture agreement, Ciclo Cafn++ brand is now slated for expansion into two other metros namely, Gurgaon and Hyderabad by the year ending 31 March 2017 (FY 2017) and will look for opportunities to open in other cities.

A new 50-50 JV company namely, TI Absolute Concepts has been formed by the two partners. The board of directors of TII approved investment by the company of a sum not exceeding Rs 10 crore in one or more tranches, in the equity share capital of the JV company. The proposed initial investment will be of the order of Rs 15 crore contributed equally by the two JV partners. The existing restaurant business of Absolute will be transferred to the JV company and the bicycle theme restaurant will be operated under the brand name Ciclo Cafn++. The JV company will have a total of 4 board of directors, with each JV partner nominating 2 directors each.

Tube Investments of Indias net profit rose 135.4% to Rs 42.40 crore on 6.7% rise in net sales to Rs 1023.95 crore in Q1 June 2016 over Q1 June 2015.

Tube Investments of India is primarily engaged in the production of steel tubes, cold rolled steel strips and metal sections, as well as bicycles and all critical bicycle components. Its unit TI Cycles is a leading bicycle maker in India.

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OCL Iron & Steel to hold AGM
Sep 16,2016

OCL Iron & Steel announced that the th Annual General Meeting(AGM) of the company on 26 September 2016.

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