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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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Den Networks gains on fund raising plans
Sep 16,2016

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

Meanwhile, the S&P BSE Sensex was up 320.32 points or 1.13% at 28,733.21.

More than usual volumes were traded on the counter. On BSE, so far 62,310 shares were traded in the counter as against average daily volume of 20,452 shares in the past one quarter. The stock hit a high of Rs 79.80 and a low of Rs 75 so far during the day. The stock had hit a 52-week high of Rs 133 on 21 September 2015. The stock had hit a 52-week low of Rs 60.50 on 15 February 2016. The stock had underperformed the market over the past one month till 15 September 2016, falling 16.22% compared with 0.93% rise in the Sensex. The scrip had also underperformed the market in past one quarter, dropping 18.89% as against Sensexs 6.31% rise.

The small-cap company has equity capital of Rs 178.20 crore. Face value per share is Rs 10.

Den Networks said that a meeting of the board of directors of the company will be held on 20 September 2016, to discuss and approve proposal for preferential issue of shares to one of the leading global financial investors who will form part of the persons belonging to non promoter category, subject to approval of the board of directors, shareholders and in compliance with the all applicable laws.

Den Networks reported net loss of Rs 57.31 crore in Q1 June 2016 compared with net loss of Rs 50.75 crore in Q1 June 2015. Net sales rose 24% to Rs 236.97 crore in Q1 June 2016 over Q1 June 2015.

Den Networks is one of leading cable TV distribution companies in India.

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Lycos partners with Breaking Data
Sep 16,2016

Lycos Internet has signed a key partnership agreement with Breaking Data to power Lycos Sports. This easy to use mobile App will be available to U.S. Lycos users in October, followed by other countries including India.

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US stocks end higher
Sep 16,2016

US stocks finished higher on Thursday, 15 September 2016 near their intraday highs, as an Apple-inspired rally in the tech sector helped to lift the broader market following a deluge of macroeconomic reports. The three main benchmarks on Thursday marked their fourth move of at least 1% in the past five sessions, after more than a month of torpor as volatility escalates in September. Earlier in the session, investors were training their focus on retail sales, which showed a decline in Augustn++the first since March. Meanwhile a weekly report on jobless claims ticked higher but remained at historically low levels. And, producer prices remained flat, suggesting lack of inflation pressures.

Earlier, stocks had traced fluctuations oil prices, but West Texas Intermediate ended settling up 0.8% at $43.91 a barrel. Slumping crude-oil prices weighed on stocks on Wednesday, leaving the Dow Industrials and the S&P 500 to close in negative territory.

The Dow Jones Industrial Average closed up 177.71 points, or 1%, at 18,212.48. The S&P 500 index wrapped up 21.49 points, or 1%, to 2,147.26. The Nasdaq Composite Index enjoyed the sharpest rise among its peers, closing 75.92 points, or 1.5%, higher at 5,249.69.

All 30 of the Dow components finished in the green. The tech rally was led by a 3.4% surge in shares of Apple. All of the main indexes benefited from Apples consistent weekly jumpn++its fourth consecutive rise of at least 2%. For this week alone, shares are up 12%.

The Cupertino, California based tech giant, Apple has been among best performing shares this week, following strong demand for its new iPhones and upbeat analyst comments. Apple tends to do well in times of market volatility, which has been a major theme this week.

The U.S. central bank is widely expected to hold fire next week when it meets. There wont be any comments from Fed officials in the run-up to the meeting as the central bank is in its so-called blackout period.

A broad index for the greenback switched between gains and losses on Thursday. The buck was slightly weaker versus the yen. It gained ground against the U.K.s sterling after the Bank of England left rates and bond-buying untouched but cracked the door open for a future rate cut.

The flurry of economic reports Thursday included a closely watched snapshot of retail sales. Sales at U.S. retailers fell 0.3% in August and declined for the first time in five months. U.S. producer prices were flat in August, while regional manufacturing gauges measuring conditions in the New York area and Philadelphia both showed improvement. Economic data can sway the Feds decisions on interest rates.

Weekly jobless claims ticked up slightly to 260,000 but the level of layoffs continues to be the lowest since the 1970s. U.S. wholesale prices were flat in August, mostly because of sharp declines in the cost of food and gasoline. The Empire State manufacturing index, which measures conditions in the New York area, remained in contraction territory. Industrial production contracted in August after a promising expansion in the previous two months, the Federal Reserve said Thursday.

Crude oil prices ended mildly higher at Nymex on 15 September 2016. Gasoline futures rallied Thursday by more than 5%, providing a lift to oil prices following a two-session decline, as the shutdown of a key pipeline looked set to stretch into a full week. The temporary closure of the Colonial Pipeline Line 1, which transports 1.2 million barrels of gasoline a day from Texas as far as New Jersey, began last Friday because of a leak.

October West Texas Intermediate crude rose 33 cents, or 0.8%, to settle at $43.91 a barrel on the New York Mercantile Exchange after tallying a loss of nearly 6% in the past two sessions. November Brent on the ICE Futures exchange in London added 74 cents, or 1.6%, to $46.59 a barrel.

Early Thursday, oil prices were pressured by some strength in the dollar and expectations for higher global production, as downbeat U.S. economic data spurred concerns over the prospects for energy demand.

Bullion prices ended lower on Thursday, 15 September 2016. Gold prices dropped to mark a sixth loss in seven sessions as investors sifted through the latest deluge of U.S. economic data in the run up to next weeks meeting of the Federal Reserve. A deluge of macroeconomic reports drew into focus the near-term picture for interest rate-sensitive trading in currencies and metals. Both the Federal Reserve and the Bank of Japan are slated to hold policy meetings next week, which could influence the buck and dollar-priced assets like metals.

December gold fell $8.10, or 0.6%, to settle at $1,318 an ouncen++the lowest level in two weeks. December silver fell 2.5 cents, or 0.1%, to $19.041 an ounce.

Treasuries ended on a mixed note. The yield on the 2-yr note fell two basis points to 0.74% while the yield on the 10-yr note finished flat at 1.70%.

Todays participation was above the recent average as more than 819 million shares changed hands on the NYSE floor.

Tomorrows economic data will include CPI for August (consensus +0.1%) and the preliminary reading of the Michigan Sentiment Index for September (consensus 91.5), which will cross the wires at 8:30 ET and 10:00 ET, respectively. Separately, Net Long-Term TIC Flows for July will be released at 16:00 ET.

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Suzlon Energy secures maiden order from Oil India
Sep 16,2016

Suzlon Energy has secured its maiden order from Oil India for 52.50 MW project capacity. The order comprises of Suzlons latest product offerings - the S111 90m tubular tower and S97 120m Hybrid Tower with a rated capacity of 2.1 MW each.

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Acrysil to hold board meeting
Sep 16,2016

Acrysil will hold a meeting of the Board of Directors of the Company on 24 September 2016 To consider and approve the Cost Audit Report for the financial year 2015-16.

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Surana Industries to hold board meeting
Sep 16,2016

Surana Industries will hold a meeting of the Board of Directors of the Company on 16 September 2016.

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G M Breweries to hold board meeting
Sep 16,2016

G M Breweries will hold a meeting of the Board of Directors of the Company on 6 October 2016.

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Skyline Millars to hold board meeting
Sep 16,2016

Skyline Millars will hold a meeting of the Board of Directors of the Company on 17 September 2016 to consider subject to all the necessary statutory approvals, sale or disposal of Wada, unit/division.

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Union Bank of India gains after raising capital
Sep 16,2016

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

Meanwhile, the S&P BSE Sensex was up 298.60 points or 1.05% at 28,711.49.

On BSE, so far 46,426 shares were traded in the counter as against average daily volume of 7 lakh shares in the past one quarter. The stock hit a high of Rs 146.70 and a low of Rs 145.10 so far during the day. The stock had hit a 52-week high of Rs 188.50 on 8 October 2015. The stock had hit a 52-week low of Rs 104.05 on 29 February 2016. The stock had outperformed the market over the past one month till 15 September 2016, advancing 11.03% compared with 0.93% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 15.45% as against Sensexs 6.31% rise.

The large-cap PSU bank has equity capital of Rs 687.44 crore. Face value per share is Rs 10.

Union Bank of India said that it has on 15 September 2016 issued 10,000 non-convertible, unsecured subordinated Basel III compliant perpetual debt Instruments eligible for inclusion in additional tier 1 (AT1) capital. The bonds are issued for face value of Rs 10 lakh each at par aggregating to Rs 1000 crore on private placement basis. The bonds carry a coupon of 9.5% per annum payable annually. The AT1 bonds are rated IND AA by India Ratings and Research Private and CARE AA by Credit Analysis & Research.

Union Bank of Indias net profit fell 67.9% to Rs 166.32 crore on 1.4% decline in total income to Rs 8916.51 crore in Q1 June 2016 over Q1 June 2015.

Union Bank of India is one of largest state-owned banks in India. The Government of India (GoI) held 63.44% in Union Bank of India (as per the shareholding pattern as on 30 June 2016).

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Kanpur Plastipack announces change in company secretary and compliance officer
Sep 16,2016

Kanpur Plastipack announced that consequent to the resignation of Avinash Kumar Singh which was noted/ approved by the Board of Directors in its meeting held on 15 September 2016, has appointed Ankur Srivastava as a New Company Secretary and Compliance Officer w.e.f. 15 September 2016.

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Bharat Financial moves north on completion of securitization transaction
Sep 16,2016

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

Meanwhile, the S&P BSE Sensex was up 299.75 points or 1.05% at 28,712.64.

On BSE, so far 27,000 shares were traded in the counter as against average daily volume of 2.21 lakh shares in the past one quarter. The stock hit a high of Rs 782.70 and a low of Rs 775 so far during the day. The stock had hit a 52-week high of Rs 938.75 on 29 July 2016. The stock had hit a 52-week low of Rs 369.45 on 18 September 2015. The stock had underperformed the market over the past one month till 15 September 2016, sliding 6.04% compared with 0.93% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 13.1% as against Sensexs 6.31% rise.

The mid-cap company has equity capital of Rs 127.77 crore. Face value per share is Rs 10.

With the completion of the latest securitization transaction, the company has completed three securitization transactions aggregating to Rs 852.44 crore in the current financial year (FY 2017). The entire pool qualifies for priority sector treatment as per the Reserve Bank of Indias priority sector lending guidelines. The pool has been rated AA (SO) by a leading rating agency, signifying a high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk, the company said.

Bharat Financial Inclusions net profit surged 285.7% to Rs 235.91 crore on 46.5% increase in total income to Rs 414.12 crore in Q1 June 2016 over Q1 June 2015.

Bharat Financial Inclusion is among the largest microfinance companies in India.

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Nakoda to hold AGM
Sep 16,2016

Nakoda announced that the th Annual General Meeting(AGM) of the company on 26 September 2016.

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Sharda Ispat to hold AGM
Sep 16,2016

Sharda Ispat announced that the 55th Annual General Meeting(AGM) of the company on 30 September 2016.

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Wipro gains after partnering with Reltio for data applications
Sep 16,2016

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

Meanwhile, the BSE Sensex was up 189.92 points or 0.71% at 28,615.58.

On BSE, so far 2,677 shares were traded in the counter, compared with average daily volume of 3.88 lakh shares in the past one quarter. The stock hit a high of Rs 482.30 and a low of Rs 479.20 so far during the day.

Wipro said that the company and Reltio, an enterprise data driven applications and modern data management platform as a service company partnered to develop faster and cost effective master data management solutions. The partnership will help Reltio and Wipros clients bridge the gap between data and insights by boosting the reliability of information, while ensuring users get access to relevant data.

On consolidated basis, Wipros net profit fell 8.32% to Rs 2051.90 crore on 0.32% decline in net sales to Rs 13697.60 crore in Q1 June 2016 over Q4 March 2016.

Wipro is a leading information technology, consulting and business process services company that delivers solutions to enable its clients do business better.

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Boards of Reliance Communication and Reliance Telecom approve scheme of arrangement
Sep 16,2016

Reliance Communications announced that the Board of Directors (n++Boardn++) of the Reliance Communications (n++Companyn++) and the Board of its subsidiary, Reliance Telecom (n++RTLn++) at their respective meetings held on 14 September 2016, subject to the approval of their respective Shareholders, Creditors, High Court and Statutory and Regulatory Authorities, approved the scheme of arrangement (n++Schemen++), which provides for (a) demerger, transfer and vesting of the Wireless Business Undertaking of the Company and RTL into Aircel (n++ALn++) and its subsidiary, Dishnet Wireless (n++DWLn++); (b) amalgamation of South Asia Communications and Deccan Digital Networks into AL, (c) conversion of shareholder loans and redeemable preference shares issued by AL into equity shares of AL, (d) cancellation and reduction of share capital of AL.

In relation to the Scheme, the Board of the Company and the Board ofRTL have also approved the execution of a Framework Merger Agreement and other transaction documents to be entered into between the Company, RTL, AL, DWL and other parties.

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