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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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Alps Industries exits BIFR
Dec 14,2016

Alps Industries had filed a Reference with Honble Board of Industrial & Financial Restructuring (BIFR) under Section 15 of the SICA which was registered vide letter dated 29 June 2010 and vide Order dated 06 December 2010, the Company was declared as Sick Industrial Company under Section 3 (1) (o) of the SICA.

Now due to enactment of Sick Industrial Companies (Special Provisions) Repeal Act, 2003 (1 of 2004) w.e.f. 01 December 2016, the reference of Company with BIFR under SICA has stand abated.

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Riba Textiles appoints company secretary and KMP
Dec 14,2016

Riba Textiles has appointed CS Neha Dubey as a Company Secretary and Key Managerial Person and further as Compliance officer of the Company at the Board meeting held on 12 November 2016 w.e.f. 14 November 2016.

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Vardhman Special Steels provides update on expansion activities
Dec 14,2016

Vardhman Special Steels has undertaken expansion activities in its Steel Melting Shop. The capacity of Steel Melting Shop has been increased from existing capacity of 1,25,000 tons per annum to 1,60,000 tons per annum.

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Board of Gitanjali Gems approves proposed IPO of subsidiary - Nakshatra World
Dec 14,2016

Gitanjali Gems announced that Nakshatra World (NWL) [formerly known as Gitanjali Brands], a wholly owned subsidiary of Gitanjali Gems (the holding Company) has decided to raise funds through an Initial Public offer of equity shares for an overall amount of not exceeding Rs. 650 crore, subject to requisite statutory and other approvals, procedures, market conditions and other relevant considerations..

At its meeting held on 14 December 2016, the Board of Directors of the holding Company has also approved the proposal of public offering of equity shares of NWL and dilution of its stake consequent to Initial Public Offer.

The Draft Red Herring Prospectus (DRHP) will be filed by NWL with the Securities and Exchange Board of India as and when it is approved by the board of NWL. The Company shall intimate the exchanges of related developments in this matter at appropriate stages.

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Axis Bank allots NCDs aggregating Rs 3500 crore
Dec 14,2016

Axis Bank announced that the Board of Directors of the Bank approved the allotment of 3500 unsecured subordinated perpetual additional tier 1, basel III compliant Non convertible debentures (Series - 26) of face value of Rs 10 lakh each for cash at par aggregating Rs 3500 crore on a private placement basis.

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Jeevan Scientific Technology allots shares and warrants
Dec 14,2016

Jeevan Scientific Technology announced that the board has allotted 20,72,865 equity shares and 74,53,650 convertible warrants to the promoters and others on preferential basis at an issue price of Rs. 30.25/- per instrument/security.

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Indian Hume Pipe Company allots equity shares
Dec 14,2016

Indian Hume Pipe Company announced that the Committee of Directors appointed for issue and allotment of Bonus Shares at their meeting held on 14 December 2016 has approved allotment of 2,42,23,585 equity Shares of Rs.2/- each as Bonus Shares in the proportion of One Bonus Share of Rs.2 (Rupees Two) each for every One Equity Share of Rs.2 (Rupees Two) each held by the Members whose names appeared on 13 December 2016, the Record Date by capitalizing a sum of Rs.4,84,47,170/- (Rupees Four Crores Eighty Four Lacs Forty Seven Thousand One Hundred Seventy) from Free Reserves of the Company to the Share Capital Account.

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Board of Educomp Solutions approves change in directorate
Dec 14,2016

Educomp Solutions announced that the Board of Directors of the Company at its meeting held on 14 December 2016, inter alia, has apporved that Shantanu Prakash, Managing Director of the Company will also act as Chairman of the board.

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Outcome of board meeting of Jyoti Structures
Dec 14,2016

Jyoti Structures announced that the Board of Directors of the Company at its meeting held on 14 December 2016 has noted the resignation of Rajendra Rana as Company Secretary and Compliance Officer with effect from 12 December 2016.

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Board of Kilburn Engineering does not approve merger proposal
Dec 14,2016

Kilburn Engineering announced that the Board of Directors of the Company at its meeting held on 14 December 2016, has discussed in detail the substantial changes in the business environment in last few months and the overall impact of these changes in the business of all the companies proposed to participate in the proposed merger of EMC , McNally Bharat Engineering Company and McNally Sayaji Engineering with Kilburn Engineering. On a careful consideration of all the aspects and angles of such changes in the business environment, the Board decided not to go ahead with the merger.

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Adhunik Metaliks considers surrender of mining lease of Kulum Iron Ore Mine
Dec 14,2016

Adhunik Metaliks announced that the Board of Directors of the Company at its meeting held on 14 December 2016, inter alia, has transacted the following business-

1. Considered the surrender of Mining Lease in respect of Kulum Iron ore Mine in Village Kulum, Deojhar & Mahadevnasa over an area of 33.803 hectares in Keonjhar district of Odisha State under Rule 29 of MCR- 1960 since the mineralised area over 6.63 hectares contains inadequate minerals, making the operation uneconomical.

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Board of Prism Medico & Pharmacy to consider change in company secretary
Dec 14,2016

Prism Medico & Pharmacy announced that the meeting of the Board of Directors of the Company will be held on 22 December 2016, inter alia, to consider and discuss the following items:

1. To consider, approve and take on records the resignation of Vikas Aggarwal from the post of Company Secretary of the Company.

2. To consider, approve and take on records the appointment of Barkha Jain as a Company Secretary of the Company.

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Board of Gorani Industries approves change in company secretary
Dec 14,2016

The Board of Directors of Gorani Industries at its meeting held on 14 December 2016 has approved resignation of Nupur Nodwal as Company Secretary and Compliance Officer with effect from 9 December 2016 and approved the appointment of Suruchi Maheshwari as Company Secretary and Compliance Officer with effect from 14 December 2016.

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Board of Cipla to consider proposal of raising funds
Dec 14,2016

Cipla announced that a meeting of the Board of Directors of the Company is scheduled to be held on 19 December 2016, inter-alia, to consider the proposal of raising funds through issue of equity shares or American depository receipts or global depository receipts or foreign currency convertible bonds or non-convertible debenture (in form of bonds or otherwise) or bonds or any other securities / financial instruments, whether denominated in Indian Rupee and/or foreign currency(ies), either by way of a public issue or by way of a private placement (including through a qualified institutions placement) in accordance with the provisions of the applicable law.

The fund raising would be subject to necessary permissions, sanctions and approvals (including shareholders approval and such other statutory approvals as may be required) and the provisions of the laws.

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Balgopal Commercial to consider change in directorate
Dec 14,2016

Balgopal Commercial announced that the meeting of the Board of Directors of the Company will be held on 21 December 2016, inter alia, to discuss the change in composition of Board of Directors.

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