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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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Huge central assistance of Rs.1.13 lakh cr committed to improve basic urban infrastructure till 2019 to enable urban revival
Sep 15,2016

Minister of Urban Development and Housing & Urban Poverty Alleviation Shri M.Venkaiah Naidu today said that the political class of the country is now more sensitised than ever before to the challenges in urban sector and the need to fix them at the earliest in the interest of rapid economic growth besides enabling a decent quality of life. He said so while inaugurating the three day conference on Urban Transition in BRICS at Visakhapatnam, Andhra Pradesh. Shri Naidu stated that this much desired awareness is a result of the initiatives taken by the central government to enable urban revival during the last two years. He said that after detailed consultations with all stakeholders including citizens, urban local bodies, State Governments and others, the central government has set in motion a 10-point strategy for urban renaissance and this paradigm shift has begun to yield results.

Stating that resources are key to addressing huge infrastructure deficit in urban areas, Shri Naidu said that the central government is taking measures to enable increased flow of resources to urban local bodies and States which includes enhanced central assistance. He informed that under Smart City Mission, Atal Mission for Rejuvenation and Urban Transformation (AMRUT) and Swachh Bharat Mission (Urban), central government has committed to provide an assistance of Rs.1.13 lakh crores to improve basic urban infrastructure, till 2018-19. n++This is a quantum jump from central assistance of Rs.33,902 cr committed during 2004-14 under JNNURM for basic infrastructuren++ said Shri Naidu.

The Minister further said n++The pace and scale of project and investment approvals have increased manifold since 2015 with the central government approving an assistance of Rs.1.84 lakh crore. This includes Rs.78,292 cr under smart city plans of 33 mission cities, Rs.45,293 cr under Atal Mission and another Rs.56,231 cr for building affordable houses for urban poor. These are the early gains of urban renaissance in the countryn++.

Shri Naidu stated that the central government led by Shri Narendra Modi has ended the ambiguity in governments approach to urban development since Independence as planned and well guided urbanisation is central to economic growth. He said that urban revival is being sought to be realised based on citizens participation, autonomy to urban local bodies and States in project formulation and their appraisal and approval, promotion of a healthy spirit of competition among urban local bodies, area based development, capacity building and enhanced resource flows to urban local bodies and States.

Giving an illustration of increased investments and scale of central assistance, Shri Venkaiah Naidu informed that an investment of Rs.15,827 cr has been approved over the last one year with central assistance of Rs.4,571 cr for Andhra Pradesh. This includes Rs.10,579 cr for constructing affordable houses for urban poor, Rs.3,595 cr for developing Visakhapatnam and Kakinada as smart cities and another Rs.1,540 cr for improving water supply and sewerage systems in AMRUT cities.

Stating that Brazil, Russia, India, China and South Africa (BRICS), with a population of over 3 billion account for over 53% of worlds population and about one fourth of global GDP, Shri Naidu urged them to step up cooperation in addressing the challenges associated with urban transition based on sharing of experiences and knowledge. He further said that given the size of the economies of BRICS countries and the potential still to be realised, member countries need to collectively address urban challenges so that they could drive global economic recovery.

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Steel Strips Wheels Chennai plant secures certification of PSA (Peugeot)
Sep 15,2016

Steel Strips Wheels announced that its Chennai plant has cleared a prestigious audit QSB+ by PSA (Peugeot) and is now eligible to supply the wheels to all the plants of PSA across the world.

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Outcome of board meeting of A2Z Infra Engineering
Sep 15,2016

A2Z Infra Engineering announced that the Board of Directors of the Company at its meeting held on 14 September 2016 approved the acquisition and investment of 70000 equity shares of A2Z Powertech (a subsidiary of the Company) to make it a wholly owned subsidiary.

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Shares of TV Vision get listed
Sep 15,2016

The equity shares of TV Vision (Scrip Code: 540083) are listed effective 15 September 2016 and admitted to dealings on the Exchange in the list of T Group Securities.

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Shares of SAB Events & Governance Now Media get listed
Sep 15,2016

The equity shares of SAB Events & Governance Now Media (Scrip Code: 540081) are listed effective 15 September 2016 and admitted to dealings on the Exchange in the list of T Group Securities.

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Shares of Camson Seeds get listed
Sep 15,2016

The equity shares of Camson Seeds (Scrip Code: 540071) are listed effective 15 September 2016 and admitted to dealings on the Exchange in the list of T Group Securities.

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196.6% Growth in Tourists Arrival on e-Tourist Visa in August 2016 over the Same Period in 2015
Sep 15,2016

A total of 66,097 tourists arrived in August 2016 on e-Tourist Visa as compared to 22, 286 during the month of August 2015 registering a growth of 196.6%

Commencing from 27th November 2014 e-Tourist Visa facility was available until 25th February 2016 for citizens of 113 countries arriving at 16 Airports in India. The Government of India has extended this scheme for citizens of 37 more countries w.e.f 26th February 2016 taking the tally to 150 countries. Status of achievements in respect of e-Tourist Visa availed by International tourists visiting India last year in 2015 has been surpassed in the first 06 months of the current calendar year 2016.

The following are the important highlights of e-Tourist Visa during August, 2016:-

(i) During the month of August, 2016 a total of 66,097 tourist arrived on e-Tourist Visa as compared to 22,286 during the month of August, 2015 registering a growth of 196.6%.

(ii) During January- August 2016, a total of 6,06,493 tourist arrived on e-Tourist Visa as compared to 1,69,976 during January-August 2015, registering a growth of 256.8% .

(iii) This high growth may be attributed to introduction of e-Tourist Visa for 150 countries as against the earlier coverage of 113 countries.

(iv) The percentage shares of top 10 source countries availing e-Tourist Visa facilities during August, 2016 were as follows:

UK (19.4%), USA (13.2%), China (6.7%), France (6.4%), Spain (6.1%), UAE (5.5%), Germany (4.6%), Australia (3.7%), Canada (3.5%) and Korea Republic of (2.4%).

(v) The percentage shares of top 10 ports in tourist arrivals on e-Tourist Visa during August, 2016 were as follows:

New Delhi Airport (45.30%), Mumbai Airport (21.53%), Chennai Airport (8.82%), Bengaluru Airport (7.58%), Kochi Airport (4.60%), Hyderabad Airport (3.52%), Kolkata Airport (2.07%), Amritsar Airport (2.01%), Ahmadabad Airport (1.44%) and Trivandrum Airport (1.36%).

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Monsanto India, Bayer CropScience nudge higher
Sep 15,2016

Bayer CropScience was up 3.14% at Rs 4,240. Bayer AG is a parent firm of Bayer CropScience. It held 68.57% stake in Bayer CropScience as on 30 June 2016.

Monsanto India was up 2.52% at Rs 2,637. Monsanto Company is a parent firm of Monsanto India. It held 72.14% stake in Monsanto India as on 30 June 2016.

Meanwhile, the S&P BSE Sensex was down 9.20 points or 0.03% at 28,363.03.

Monsantos board of directors, Bayers board of management and Bayers supervisory board unanimously approved the merger agreement. Based on Monsantos closing share price on 9 May 2016, the day before Bayers first written proposal to Monsanto, the offer represents a premium of 44% to that price.

Bayer intends to finance the transaction with a combination of debt and equity. The equity component of about $19 billion is expected to be raised through an issuance of mandatory convertible bonds and through a rights issue with subscription rights. Bridge financing for $57 billion is committed by BofA Merrill Lynch, Credit Suisse, Goldman Sachs, HSBC and JP Morgan.

The acquisition is subject to customary closing conditions, including Monsanto shareholder approval of the merger agreement and receipt of required regulatory approvals. Closing is expected by the end of 2017.

Monsanto India is a seed company focusing on maize and agricultural productivity. The companys net profit fell 9.9% to Rs 56.60 crore on 9.1% decline in net sales to Rs 236.08 crore in Q1 June 2016 over Q1 June 2015.

Bayer CropScience has presence in seeds, crop protection and non-agricultural pest control. It is organized into operating units viz. crop protection, seeds and environmental science. The companys net profit rose 18.6% to Rs 131.20 crore on 8.4% growth in net sales to Rs 799.20 crore in Q1 June 2016 over Q1 June 2015.

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Unitech gains after cutting losses in Q1
Sep 15,2016

The result was announced after market hours yesterday, 14 September 2016.

Meanwhile, the BSE Sensex was down 17.71 points, or 0.06%, to 28,354.89.

More than normal volumes were traded on the counter. On BSE, so far 21.37 lakh shares were traded in the counter, compared with an average volume of 14.71 crore shares in the past one quarter. The stock hit a high of Rs 6.51 and a low of Rs 6.14 so far during the day. The stock hit a 52-week high of Rs 9.05 on 18 July 2016. The stock hit a 52-week low of Rs 3.43 on 11 February 2016. The stock had underperformed the market over the past one month till 14 September 2016, falling 0.98% compared with 0.78% gains in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 18.48% as against Sensexs 7.49% gains.

The mid-cap company has an equity capital of Rs 523.26 crore. Face value per share is Rs 2.

Unitechs consolidated total income rose 26.94% to Rs 495.93 crore in Q1 June 2016 over Q1 June 2015. The companys consolidated net debt as of 30 June 2016 stood at Rs 5265 crore. Net debt to equity ratio as of 30 June 2016 was 0.58. The company achieved sales bookings of 2 million square feet valued at Rs 362 crore during Q1 June 2016. The company delivered 2.35 million square feet of completed property during Q1 June 2016.

Announcing the results, Ajay Chandra, Managing Director, Unitech said that the companys focus is firmly on completing and delivering the ongoing projects in an expeditious manner. Towards this end, company has been continuously engaging with its customers, bankers and local administration to create project specific escrow mechanisms to ensure that the balance payments received from the customers of a project are utilized only towards completion of that project. Some projects in which such mechanisms have already been put in place have started yielding positive results, he added.

Unitech is one of Indias leading real estate player. It has a diversified product mix in real estate comprising of commercial complexes, IT/ITes parks, special economic zones (SEZs), integrated residential developments, schools, hotels, malls, golf courses and amusement parks.

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Shares of Sai Moh Auto Links get listed
Sep 15,2016

The equity shares of Sai Moh Auto Links (Scrip Code: 540066) are listed effective 15 September 2016 and admitted to dealings on the Exchange in the list of XT Group Securities.

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Coromandel Engineering Company announces resignation of CFO
Sep 15,2016

Coromandel Engineering Company announced that K Ramakrishnan, Chief Financial Officer of the Company, has resigned from the services of the Company due to personal reasons.

The resignation has been accepted and K. Ramakrishnan has been relieved from the services of the Company, with effect from close of business hours on 14 September 2016.

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Shree Ganesh Jewellery House (I) to hold board meeting
Sep 15,2016

Shree Ganesh Jewellery House (I) will hold a meeting of the Board of Directors of the Company on 20 September 2016.

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Tamil Nadu Telecommunications to hold board meeting
Sep 15,2016

Tamil Nadu Telecommunications will hold a meeting of the Board of Directors of the Company on 26 September 2016.

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HDFC Bank to hold board meeting
Sep 15,2016

HDFC Bank will hold a meeting of the Board of Directors of the Company on 25 October 2016.

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Goa Carbon to hold board meeting
Sep 15,2016

Goa Carbon will hold a meeting of the Board of Directors of the Company on 6 October 2016.

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