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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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Ashok Leyland bags order worth Rs 70.35 crore
Feb 06,2017

Ashok Leyland announced that Ashok Leyland West Africa bagged an order of 135 buses under the Lines of Credit from Exim Bank of India through Ecowas Bank of Investment and Development for Burkina Faso worth Rs 70.35 crore.

The buses will be supplied to the Ministry of Higher Education Scientific Research and Innovation and will be supplied over the next 180 days.

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JSW Steel announces crude steel production figures
Feb 06,2017

JSW Steel has reported crude steel production at 13.85 lakh tonnes in January 2017, recording a growth of 49% compared to 9.27 lakh tonnes production achieved in January 2016.

Production of flat rolled products stood at 10.31 lakh tonnes and long rolled products stood at 2.97 lakh tonnes in January 2017, recording growth of 38% and 18% over January 2016.

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Blue Coast Hotels gains after reporting strong Q3 earnings
Feb 06,2017

The result was announced after market hours on Friday, 3 February 2017.

Meanwhile, the S&P BSE Sensex was up 217.68 points, or 0.77%, to 28,458.20.

On the BSE, 779 shares were traded on the counter so far as against the average daily volumes of 52 shares in the past one quarter. The stock had hit a low of Rs 129.85 so far during the day.

The stock had hit a 52-week high of Rs 173 on 5 July 2016 and a 52-week low of Rs 56.05 on 19 February 2016.

The small-cap company has equity capital of Rs 12.75 crore. Face value per share is Rs 10.

Blue Coast Hotels is engaged in hotel business. The company owns park Hyatt Goa Resort & Spa. Park Hyatt Goa Resort & Spa is a beach resort located at Arossim beach, Goa.

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ACC shrugs off weak Q4 result
Feb 06,2017

The result was announced after market hours on Friday, 3 February 2017.

Meanwhile, the BSE Sensex was up 225.34 points, or 0.8%, to 28,465.86

On BSE, so far 52,000 shares were traded in the counter, compared with average daily volume of 1.51 lakh shares in the past one quarter. The stock hit a high of Rs 1,500 and a low of Rs 1,402 so far during the day. The stock hit a 52-week high of Rs 1,738 on 8 August 2016. The stock hit a 52-week low of Rs 1,173.25 on 29 February 2016.

The large-cap company has equity capital of Rs 187.79 crore. Face value per share is Rs 10.

ACCs consolidated operating earnings before interest, taxes, depreciation and amortization (EBITDA) declined 8.57% to Rs 256 crore in Q4 December 2016 over Q4 December 2015. Cement sales volumes fell 9.17% to 5.45 million tonnes in Q4 December 2016 over Q4 December 2015.

In its outlook, ACC said that the slowdown witnessed after demonetization is easing and the company expects the economy to show solid growth in the months to come. Increased government spending on infrastructure development, housing, roads, railways, irrigation and other schemes as announced in the Union Budget 2017-18 are expected to further reinvigorate the construction sector soon and boost demand for cement and concrete during the year, ACC said.

Neeraj Akhoury, who takes over as Managing Director & CEO of ACC said that the highlight of the year was strong cost saving measures, especially on fuel flexibility and raw materials. Focusing on high quality, high performance product portfolio played an important role in the overall performance for the year. The company is encouraged by the Governments plans to invest in infrastructure, Neeraj Akhoury said.

ACC is a manufacturer of cement and concrete and is a member of LafargeHolcim group. The company has a countrywide network of modern cement and concrete plants, sales offices, dealers and retailers.

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MPS to acquire THINK Subscription
Feb 06,2017

MPS has entered into a definitive asset purchase agreement to acquire THINK Subscription. This acquisition is subject to customary closing conditions. The acquisition of THINK will not have a material effect on revenues and profits of MPS.

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Steel Authority of India appoints director
Feb 06,2017

Steel Authority of India announced that the Board of Directors of the Company has approved the appointment of Nilanjan Sanyal and Dr. Samar Singh as Independent Directors, on the Board of Directors of the Company on 04 February 2017.

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Gravita India hits 52 week high after turnaround Q3 results
Feb 06,2017

The result was announced after market hours on Friday, 3 February 2017.

Meanwhile, the S&P BSE Sensex was up 184.97 points, or 0.65%, to 28,425.49.

On the BSE, 63,000 shares were traded on the counter so far as against the average daily volumes of 81,246 shares in the past one quarter. The stock had hit a high of Rs 49 so far during the day, which is also its 52-week high. The stock hit a low of Rs 45.55 so far during the day.

The stock had hit a 52-week low of Rs 16 on 24 June 2016.

The small-cap company has equity capital of Rs 13.69 crore. Face value per share is Rs 2.

Gravita Indias consolidated total revenue spurted 98.69% to Rs 166.68 crore in Q3 December 2016 over Q3 December 2015.

The companys earnings before interest, tax, depreciation and amortization (EBITDA) of Rs 14.25 crore in Q3 December 2016, compared with net loss of Rs 1.05 crore in Q3 December 2015.

Gravita India is engaged in the business of manufacturing of lead metal by recycling & smelting process.

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IDBI Bank intimates of strike by All India IDBI Employees Association
Feb 06,2017

IDBI Bank announced that the All India IDBI Employees Association has given strike call for 06 February 2017 in connection with wage revision related matters. Since conciliation before Regional Labour commissioner is still pending, the strike is not deemed to be legal.

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MSME Ministry received 4.40 lakh applications from entrepreneurs for setting up new businesses: H.P. Chaudhary
Feb 06,2017

The Union Ministry of Micro, Small and Medium Enterprises (MSMEs) has received 4.40 lakh applications from budding entrepreneurs seeking assistance from the Government for setting up business, Minister of State for MSME, Mr H.P. Chaudhary informed at an ASSOCHAM event.

n++I recently took a meeting of small entrepreneurs in Mumbai and received applications from 4.40 lakh entrepreneurs for setting up new industries,n++ said Mr Chaudhary.

He thanked the Prime Minister and Finance Minister for allocating more funds than what was suggested by the MSME Ministry. n++Our department made a proposal demanding funds worth Rs 5,000 crore but the PM gave us funds worth Rs 6,500 crore.n++

n++This budget has provided a lot of support to the MSMEs firstly by almost doubling the allocation, now the small entrepreneur will get collateral free loans worth up to Rs two crore, presumptive tax reduction of two percentage point to six per cent are laudable steps that would help strengthen the sector,n++ he added.

Mr Chaudhary also said that these positive steps are in the right direction aimed at increasing the job generation in the MSME sector.

He further said that promotion to digital payments in MSME sector will spur the growth of MSMEs.

The Minister sought MSME industrys views and suggestions on goods and services tax (GST).

He also complemented the PM for successfully carrying out demonetisation drive. n++Demonetisation was not merely a historical but a risky step but the PM succeeded in his endeavour.n++

In his address at the ASSOCHAM summit, Mr Sanjay Kumar, general manager, RBI (Reserve Bank of India) said that India is rapidly moving towards becoming a less-cash economy which is likely to bring more transparency in monetary transactions.

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Equitas Holdings provides update on subsidiary - Equitas Small Finance Bank
Feb 06,2017

Equitas Holdings announced that Equitas Small Finance Bank (ESFBL), wholly-owned subsidiary of the Company, has been included in the Second Schedule to Reserve Bank of India Act, 1934 vide Official Gazette Notification on 04 February2017. With the above inclusion, ESFBL has now become a Scheduled Bank with effect from the date of notification.

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Budget 2017-18 focuses on educational empowerment and skill development of the Minorities: Shri Mukhtar Abbas Naqvi
Feb 06,2017

The Minister of State for Minority Affairs (Independent Charge), Shri Mukhtar Abbas Naqvi has said that the Union Budget (General) 2017-18 will be helpful in socio-economic-educational empowerment of Minorities. Shri Naqvi said that the Budget of Minority Affairs Ministry has been increased to Rs 4195.48 crore for 2017-18. This is Rs 368.23 crore more than 2016-17 Budget of Rs 3827.25 crore with an increase of about 9.6 per cent. The Central Governments focus is on educational and skill development of Minorities. Maximum part of the Budget 2017-18 would go for educational empowerment and skill development of the Minorities.

The Minister of Minority Affairs further stated that more than Rs 2600 crore have been provided for various scholarships and skill development schemes such as n++Seekho aur Kamaon++, n++Nai Manziln++, n++Nai Roushnin++, n++Usttadn++, n++Garib Nawaz Skill Development Centren++ and n++Begum Hazrat Mahal Scholarship for Girlsn++. Besides this, funds under Multi-sectoral Development Programme (MsDP) will also be utilised for various educational development activities. Rs 393.54 crore has been given for Merit-cum-Means based scholarship; Rs 950 crore for pre-matric scholarship; Rs 550 crore for post-matric scholarship; Rs 250 crore for n++Seekho aur Kamao (with an increase of Rs 40 crore compared to last budget); Rs 176 crore for n++Nai Manziln++ (with an increase of Rs 56 crore compared to last budget); Rs 113 crore for Maulana Azad Education Foundation; Rs 170 crore as equity for NMDFC.

Shri Naqvi informed that Rs 22 crore has been allocated for n++Usttadn++ scheme which aims to promote and provide national-international markets for traditional arts of the Minority communities. Rs 1200 crore has been allocated for Multi-sectoral Development Programme (MsDP) with an increase of Rs 141 crore compared to last years budget. MsDP scheme provides basic infrastructure for Minority concentrated areas such as schools, hospitals, roads, multi-purpose community centres n++Sadbhav Mandapn++ etc.

He said that for 2017-18, Centre has set a target to provide scholarships to about 35 lakh students. Employment oriented training will be provided to more than 2 lakh youths belonging to Minority communities. Besides this, Honble Prime Ministers new 15-Point Programme has been playing a key role in socio-economic-educational empowerment of Minorities. 24 schemes of 11 Ministries/Departments are presently covered under this programme. Various Ministries spend their about 15 per cent funds for development of Minorities. This has been increased by about 19 per cent.

Shri Naqvi further informed that in the last years budget, about 2800 crore out of Rs 3827 crore have been spent on scholarship, training and other educational related activities. This also include scholarships worth Rs 1816 crore. About 90,000 Minority youths have been trained under n++Seekho aur Kamaon++ scheme. About 70,000 women were provided leadership skills under n++Nai Roushnin++. Rs 650 crore were spent on educational infrastructure under Multi-sectoral Development Programme (MsDP).

During last six months, the Ministry of Minority Affairs also approved about 200 n++Sadbhav Mandapn++ and 16 n++Gurukuln++ type of schools with a cost of about Rs 262 crore. n++Sadbhav Mandapsn++ will be used as community centres for various cultural-social-educational activities as well as relief centres during a calamity.

The Ministry of Minority Affairs has approved 16 n++Gurukuln++ residential schools across the country including Telanagana (7), Andhra Pradesh (6), Karnataka (2) and Jharkhand 1. We have also decided to help those Madrasas who are also providing mainstream education.

Shri Naqvi said that our efforts for empowerment of Minorities include n++Progress Panchayatn++, n++Hunar Haatn++, establishing n++Garib Nawaz Skill Development Centren++, n++Begum Hazrat Mahal Scholarshipn++ for girls, establishing five world class educational institutes for Minorities and 500 quality residential schools and job-oriented skill development centres. About Rs 5300 crore were granted to various states under MsDP in 12th Plan.

n++Hunar Haatn++:

Shri Naqvi said that the Ministry of Minority Affairs is organizing second edition of n++Hunar Haatn++ with the theme n++Craft Aur Cuisine Ka Sangamn++ from 11th to 26th February, 2017 at State Emporia Complex, Baba Kharak Singh Marg, Cannaught Place, New Delhi. n++Hunar Haatn++ is aimed at encouraging, promoting and providing national and international market to artisans/craftsmen belonging to the Minority communities.

Shri Naqvi said that this n++Hunar Haatn++, with the theme of n++Craft Aur Cuisine Ka Sangamn++ is unique in the sense that it would showcase crafts with the traditional cuisines brought from different parts of the country. n++Hunar Haatn++ is being organized through National Minorities Development & Finance Corporation (NMDFC) under USTTAD (Upgrading the Skills & Training in Traditional Arts/Crafts for Development) scheme of Ministry of Minority Affairs.

More than 500 applications of artisans & culinary experts have been received covering 24 states. A total of 100 artisans and 30 culinary experts will participate at about 130 stalls in the second n++Hunar Haatn++, which will also have n++Bawarchikhanan++ where various cuisine from different parts of the country will be showcased and the visitors can enjoy them. n++Hunar Haatn++ is aimed at providing opportunity and a platform under one roof to artisans & craft persons of Minority communities, to demonstrate, showcase and sell their products. The selected artisans include several Awardees from 5 Minority communities representing as many as 23 states.

For the first time in this exhibition very exquisite pieces of Handicraft & Handloom work like Makrana Marble products, Bandhej from Sikar, Mojri from Rajasthan, Banjara Embroidery from Telangana, Handmade Locks & Door Handles along with Phool Patti works from Aligarh, Cocoon decorated products from Nagaland, Mizoram Traditional Crafts, etc would be showcased and sold.

Different cuisines from 13 states are being brought by culinary experts for this second n++Hunar Haatn++. The culinary items includes Awadhi Mughlai foods from Lucknow, Dal Bati Churma & Thali from Rajasthan, Sandesh & Rasogolla from West Bengal, Malabari food from Kerala, Litti Chokha of Bihar.

Shri Naqvi expressed confidence that just like the first n++Hunar Haatn++, which was organized in November, 2016 at Pragati Maidan, the upcoming n++Hunar Haatn++ will also be successful.

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Grasim Industries gains as board approves hike in investment limits by FPIs
Feb 06,2017

The announcement was made after market hours on Friday, 3 February 2017.

Meanwhile, the BSE Sensex was up 226.27 points, or 0.8%, to 28,466.79

On the BSE, 8,368 shares were traded in the counter so far, compared with average daily volume of 54,097 shares in the past one quarter. The stock had hit a high of Rs 965 and a low of Rs 952.35 so far during the day. The stock had hit a record high of Rs 1,069.70 on 5 August 2016. The stock had hit a 52-week low of Rs 648.41 on 26 February 2016.

The large-cap company has equity capital of Rs 93.36 crore. Face value per share is Rs 2.

Grasim Industries said that directors vide a circular resolution passed on 3 February 2017, approved the proposal to increase the limits for investment in the equity share capital of the company by registered foreign portfolio investors (RFPIs) to 49% from 30% of the companys total paid-up equity share capital of the company.

Grasim Industries consolidated net profit rose 13.7% to Rs 728.19 crore on 1.47% rise in total income to Rs 8813.24 crore in Q3 December 2016 over Q3 December 2015.

Grasim Industries two main businesses are viscose staple fibre (VSF) and cement.

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Lupin gains after US drug regulator nod for generic drug
Feb 06,2017

The announcement was made after market hours on Friday, 3 February 2017.

Meanwhile, the S&P BSE Sensex was up 159.34 points or 0.56% at 28,399.86

On the BSE, 1,663 shares were traded on the counter so far as against the average daily volumes of 78,851 shares in the past one quarter. The stock had hit a high of Rs 1,511 and a low of Rs 1,502.50 so far during the day. The stock had hit a 52-week high of Rs 1,911.55 on 9 February 2016 and a 52-week low of Rs 1,294.05 on 29 March 2016.

The large-cap company has equity capital of Rs 90.30 crore. Face value per share is Rs 2.

Lupin announced that it has received final approval for its Triamcinolone Acetonide Cream USP, 0.025%, 0.1% and 0.5% from the United States Food and Drug Administration (FDA) to market a generic equivalent of Mylan Pharmaceuticals Inc.s Triamcinolone Acetonide Cream, 0.025% and 0.1%. Lupin shall commence promoting the product shortly.

Lupins Triamcinolone Acetonide Cream USP, 0.025%, 0.1% and 0.5% is an AT rated generic equivalent of Mylan Pharmaceuticals, Inc.s (formerly held by Delcor Asset Corporation) Triamcinolone Acetonide Cream, 0.025% and 0.1%. Triamcinolone Acetonide Cream USP, 0.025%, 0.1% and 0.5% is indicated for the relief of the inflammatory and pruritic manifestations of corticosteroid responsive dermatoses.

Triamcinolone Acetonide Cream USP, 0.025%, 0.1% and 0.5% had US sales of $55.7 million as per IMS MAT September 2016.

Lupins consolidated net profit rose 57.8% to Rs 662.19 crore on 31.9% rise in net sales to Rs 4211.18 crore in Q2 September 2016 over Q2 September 2015.

Lupin is an innovation led transnational pharmaceutical company developing and delivering a wide range of branded & generic formulations, biotechnology products and APIs globally. The company is a significant player in the cardiovascular, diabetology, asthma, pediatric, CNS, GI, anti-infective and NSAID space and holds global leadership position in the anti-TB segment.

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Accelya and Mercator partner to create a global solutions provider
Feb 06,2017

Accelya and Mercator announced their intentions to combine, creating a leading global technology enabled solutions provider to airlines, travel agents and freight forwarders. The combined company will offer a broadened product portfolio with complementary offerings including revenue accounting, revenue management and revenue assurance, cargo management, payment solution, data analytics, cost management and commercial solutions.

The global private equity firm, Warburg Pinacus will be a majority shareholder in the combined company following its acquisition of Accelya from Chequers Capital.

The transaction in expected to close in first quarter of 2017.

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Accelya and Mercator partner to create a global solutions provider
Feb 06,2017

Accelya and Mercator announced their intentions to combine, creating a leading global technology enabled solutions provider to airlines, travel agents and freight forwarders. The combined company will offer a broadened product portfolio with complementary offerings including revenue accounting, revenue management and revenue assurance, cargo management, payment solution, data analytics, cost management and commercial solutions.

The global private equity firm, Warburg Pinacus will be a majority shareholder in the combined company following its acquisition of Accelya from Chequers Capital.

The transaction in expected to close in first quarter of 2017.

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