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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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Axiscades Engg firms up after board OKs investment in units
Mar 23,2017

The announcement was made after market hours yesterday, 22 March 2017.

Meanwhile, the S&P BSE Sensex was up 117.62 points, or 0.40% to 29,285.30.

On the BSE, 7,824 shares were traded in the counter so far, compared with average daily volumes of 20,000 shares in the past two weeks. The stock had hit a high of Rs 156.80 and a low of Rs 153.05 so far during the day.

The stock hit a 52-week high of Rs 305.50 on 22 April 2016. The stock hit a 52-week low of Rs 133.50 on 22 November 2016.

The board of Axiscades Engineering Technologies in its meeting held 21 March 2017, has given its approval for making further investment in its wholly owned subsidiaries. As per the approval, the company will increase the equity of AXISCADES GmbH by 1.25 lakh euros in one or more tranches. Further, it will invest Rs 15 crore in AXISCADES Aerospace & Technologies.

On a consolidated basis, net profit of AXISCADES Engineering Technologies declined 73.50% to Rs 1.99 crore on 13.61% rise in net sales to Rs 109.71 crore in Q3 December 2016 over Q3 December 2015.

AXISCADES is a technology solutions provider, catering to the futuristic needs of aerospace, defense, heavy engineering, automotive and industrial production sectors.

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Servalakshmi Paper director resigns
Mar 23,2017

Servalakshmi Paper announced that V.S.Pattabiraman has resigned as an Independent Director of the Company with effect from 08 March 2017.

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Board of CHD Chemicals approves allotment of 49 lakh warrants
Mar 23,2017

CHD Chemicals announced that the Board of Directors at its meeting held on 23 March 2017 approved the allotment of 49,00,000 convertible warrants at a price of Rs 10 each on preferential basis to the promoters and non promoters upon the receipt of minimum subscription amount as per Regulation 77 of SEBI ICDR Regulation.

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Emami Infra extends Wednesdays sharp rally
Mar 23,2017

Meanwhile, the S&P BSE Sensex was up 117.25 points or 0.4% at 29,284.93. The BSE Small-Cap index was up 138.87 points or 1% at 14,040.79.

On the BSE, 2.56 lakh shares were traded on the counter so far as against the average daily volumes of 16,000 shares in the past two weeks. The stock had hit a high of Rs 82.95 and a low of Rs 78 so far during the day.

Shares of Emami Infrastructure have rallied 25.95% two trading sessions from its closing of Rs 62.60 on 21 March 2017, after the company during market hours yesterday, 22 March 2017 said it has tied-up with Sheth Corp to launch flagship residential project in Mumbai. The stock surged by the 20% upper circuit level to settle at Rs 75.10 yesterday, 22 March 2017.

Emami Group announced that it has pumped Rs 350 crore to join hands with Sheth Corp for 50% partnership in Mulund project.

Sheth Group is a leading developer in the luxury & mid-housing segment of real estate, with a global footprint.

Emami Infrastructure reported net loss of Rs 0.17 crore in Q3 December 2016 as against net loss of Rs 0.71 crore in Q3 December 2015. The company reported total income from operations of Rs 0.24 crore in Q3 December 2016. It did not report any top line for Q3 December 2015.

Emami Infrastructures primary business is development of residential, commercial and retail properties through its subsidiaries and associates.

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Cabinet approves closure/winding up of CREDA HPCL Biofuel Ltd (CHBL) and IndianOil - CREDA Biofuels Ltd. (ICBL)
Mar 23,2017

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi has approved closure/winding up of CREDA HPCL Biofuel (CHBL) and IndianOil - Chhattisgarh Renewable Energy Development Agency (CREDA) Biofuels (ICBL).

All Office assets of CHBL/ICBL have been disposed of. No manpower exits on the rolls of CHBL/ICBL. There is no financial outgo from Government of India and lands have been returned to CREDA. All liabilities have also been settled. Closure of CHBL and ICBL would result in saving unfruitful expenditure on statutory compliance.

Background:

Joint Ventures (JV) between CREDA HPCL Biofuel Ltd (CHBL) and IndianOil-CREDA Biofuels Limited (ICBL) were formed for carrying out energy crop (Jatropha) plantation and production of bio-diesel in 2008 and 2009 respectively. The CREDA, an arm of Chhattisgarh, had provided wasteland to CHBL and ICBL through Land Use Agreement for plantation of Jatropha. Due to various constraints such as very poor seed yield, limited availability of wasteland, high plantation maintenance cost etc. the project became unviable and Jatropha plantation activities were discontinued.

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Carborundum Universal inaugurates three modern fusion facilities
Mar 23,2017

Carborundum Universal announced that the Companys Electromineral Division on 23 March 2017 inaugurated three modern fusion facilities at Kalamassery, Cochin creating one of the most advanced and integrated Electro Minerals complex at an installed capacity of 25,000 tons of fused minerals.

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NTPC commissions 20 MW of Bhadla Solar Power Project
Mar 23,2017

NTPC has commissioned 20 MW of Bhadla Solar Power Project. With this, the commissioned capacity of Bhadla Solar Power Project, NTPC and NTPC group has become 205 MW, 41927 MW and 48893 MW respectively.

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Reliance Communication provides update on proposed demerger of Reliance Infratels Tower Division to Towerco
Mar 23,2017

The Competition Commission of India (CCI) has approved theproposed transaction involving the sale of the Tower Division of Reliance Infratel, a subsidiary of Reliance Communications, which is to be carried out pursuant to a demerger of the Tower Division to Towercom Infrastructure (Towerco).

Upon the completion of the demerger, though a Scheme of Arrangement, and the completion of certain other conditions and approvals, Rapid Holdings 2 Pte. Ltd., a company which is a part of the Brookfield Infrastructure Group will acquire 100% of Towercom Infrastructure.

The Company has already filed an application with the National Company Law Tribunal (NCLT), Mumbai Bench, for approval of the said Scheme of Arrangement.

Post closing, the Company will receive B Class Non-voting shares in Towerco providing 49% future economic upside from the business based on certain conditions.

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Bank of India sells its entire 5% stake in TransUnion CIBIL for Rs 190.62 cr
Mar 23,2017

Bank of India has sold its entire stake of 5% (12,50,000 shares) in TransUnion CIBIL (TUCIBIL) to TransUnion International Inc (TUI). The deal was concluded on 22 March 2017 at the rate of Rs. 1525.00 per equity share for a total consideration amount of Rs. 190,62,50,000/-

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NTPC commissions 2nd Unit of 250 MW of Bongaigaon Thermal Power Project
Mar 23,2017

NTPC has commissioned 2nd Unit of 250 MW of Bongaigaon Thermal Power Project (3 X 250 MW). With this, the commissioned capacity of Bongaigaon Thermal Power Project, NTPC and NTPC group has become 500 MW, 42177 MW and 49143 MW respectively.

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Som Distilleries jumps on commencing supply of beer to Karnataka
Mar 23,2017

The announcement was made after market hours yesterday, 22 March 2017.

Meanwhile, the S&P BSE Sensex was up 126.23 points or 0.43% at 29,293.91. The BSE Small-Cap index was up 130.46 points or 0.94% at 14,032.38.

On the BSE, 22,000 shares were traded on the counter so far as against the average daily volumes of 29,000 shares in the past two weeks. The stock had hit a high of Rs 143.80 and a low of Rs 124.40 so far during the day.

Som Distilleries announced that it has started the supply of Black Fort beer to Karnataka. The response from consumers and the trade is very encouraging, it said. The company expects to get a considerable market share in the short term. Further, the company will be launching out its mainline brands next month in Karnataka.

Som Distilleries net profit declined 32.94% to Rs 1.71 crore on 6.22% growth in total income from operations to Rs 44.20 crore in Q3 December 2016 over Q3 December 2015.

Som Distilleries & Breweries is a brewing company. It is engaged in making beer from malt plus whiskies.

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Som Distilleries jumps on starting supply of beer
Mar 23,2017

The announcement was made after market hours yesterday, 22 March 2017.

Meanwhile, the S&P BSE Sensex was up 126.23 points or 0.43% at 29,293.91. The BSE Small-Cap index was up 130.46 points or 0.94% at 14,032.38.

On the BSE, 22,000 shares were traded on the counter so far as against the average daily volumes of 29,000 shares in the past two weeks. The stock had hit a high of Rs 143.80 and a low of Rs 124.40 so far during the day.

Som Distilleries announced that it has started the supply of Black Fort beer to Karnataka. The response from consumers and the trade is very encouraging, it said. The company expects to get a considerable market share in the short term. Further, the company will be launching out its mainline brands next month in Karnataka.

Som Distilleries net profit declined 32.94% to Rs 1.71 crore on 6.22% growth in total income from operations to Rs 44.20 crore in Q3 December 2016 over Q3 December 2015.

Som Distilleries & Breweries is a brewing company. It is engaged in making beer from malt plus whiskies.

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Sadbhav Infra spurts on being lowest bidder for road project
Mar 23,2017

The announcement was made after market hours yesterday, 22 March 2017.

Meanwhile, the S&P BSE Sensex was up 124 points, or 0.43% to 29,291.68.

On the BSE, 41,000 shares were traded in the counter so far, compared with average daily volumes of 5,516 shares in the past one quarter. The stock had hit a high of Rs 108.35 and a low of Rs 102.30 so far during the day. The stock hit a record high of Rs 120.40 yesterday, 22 September 2016. The stock hit a 52-week low of Rs 81.05 on 9 November 2016.

The stock had outperformed the market over the past one month till 22 March 2017, 2.60% compared with 1.41% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, 3.65% as against Sensexs 12.27% rise.

The mid-cap company has equity capital of Rs 352.23 crore. Face value per share is Rs 10.

Sadbhav Infrastructure Projects said it has been declared lowest bidder for a hybrid annuity model (HAM) project of 4-Laning of Waranga to Mahagaon (Pkg-I) section of National Highway (NH)-361 in the State of Maharashtra under NHDP Phase-IV. The project cost is Rs 1071 crore and construction period is 910 days from appointment date. As per the RFP documents, Letter of Award (LoA) shall be provided by NHAI within 60 days from the bid due date (February 15, 2017).

On a consolidated basis, Sadbhav Infrastructure Projects reported net loss of Rs 66.35 crore in Q3 December 2016 as against net loss of Rs 139.51 crore in Q3 December 2015. Net sales declined 35.96% to Rs 322.14 crore in in Q3 December 2016 over Q3 December 2015.

Sadbhav Infrastructure Project is into development, operation and maintenance of road infrastructure assets. It undertakes turnkey contractual works and other than civil construction of the projects.

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Hindustan Composites sizzles on plans of bonus issue
Mar 23,2017

The announcement was made after market hours yesterday 22 March 2017.

Meanwhile, the S&P Sensex was up 84.20 points, or 0.29% at 29,251.88. The S&P Small-cap index was up 100.75 points, or 0.8% at 14,012.67.

High volumes were witnessed on the counter. On the BSE, 11,000 shares were traded on the counter so far as against the average daily volumes of 336 shares in the past one quarter. The stock had hit a high of Rs 1,908 and a low of Rs 1,795.70, so far during the day.

The stock had hit a record high of Rs 2,119 on 20 September 2016 and a 52-week low of Rs 750 on 8 April 2016. The stock had outperformed the market over the past one month till 22 March 2017, rising 4.22% compared with 1.05% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 4.76% as against Sensexs 12.27% rise.

The small-cap company has equity capital of Rs 4.92 crore. Face value per share is Rs 10.

Hindustan Composites said that a meeting of the board of directors of the company is scheduled to be held on 10 April 2017, to consider bonus issue of shares and a stock spilt. The board will also consider seeking approval of the shareholders of the company through postal ballot process for the same.

Hindustan Composites net profit rose 37.7% to Rs 12.08 crore on 26% increase in net sales to Rs 51.25 crore in Q3 December 2016 over Q3 December 2015.

Hindustan Composites is engaged in the manufacturing and marketing of fiber-based friction materials.

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Cabinet approves amendment to The Right of Children to Free and Compulsory Education Act, 2009
Mar 23,2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the amendment to Right of Children to Free and Compulsory Education (RTE) Act, 2009. This will ensure that all teachers, in position as on 31st March, 2015, acquire the minimum qualifications prescribed by the academic authority to extend the period for such training for four years up to 31st March, 2019.

This will enable the in-service untrained elementary teachers to complete their training and ensure that all teachers at the elementary level in the country have a certain minimum standard of qualifications. This would also ensure that all Teachers would attain minimum qualifications as considered necessary to maintain the standard of teaching quality. This would ultimately result in improvement in overall quality of teachers, teaching processes and consequently learning outcomes of children. This will reinforce the Governments emphasis on improvement of quality of elementary education.

Background:

The Right of Children to Free and Compulsory Education (RTE) Act, 2009, is effective from 1st April, 2010. It envisages free and compulsory elementary education to every child in the age group of 6-14 years. The Proviso to Section 23(2) of the Act specifies that all teachers at elementary level who, at the commencement of this Act, did not possess the minimum qualifications as laid down under the RTE Act, need to acquire these within a period of five years i.e., 31st March, 2015. However, several State governments have reported that out of a total number of 66.41 lakh teachers at the elementary level, 11.00 lakh are still untrained (of this, 5.12 lakh are in Government and Aided Schools and 5.98 lakh are in private schools). In order to ensure that all teachers, in position as on 31st March, 2015, acquire the minimum qualifications prescribed by the academic authority, it is necessary to carry out appropriate amendment in the RTE Act, 2009 to extend the period for such training for four years up to 31st March, 2019.

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