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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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NLC India advances after blockbuster Q3 outcome
Feb 10,2017

The result was announced after market hours yesterday, 9 February 2017.

Meanwhile, the S&P BSE Sensex was up 33.10 points, or 0.12%, to 28,362.80

On the BSE, 1.42 lakh shares were traded in the counter so far, compared with an average volume of 53,154 shares in the past one quarter. The stock had hit a high of Rs 99.90 and a low of Rs 96.50 so far during the day. The stock had hit a 52-week low of Rs 60.35 on 1 March 2016. The stock had hit a 52-week high of Rs 100.10 on 27 January 2017.

The large-cap company has an equity capital of Rs 1677.71 crore. Face value per share is Rs 10.

NLC India operates lignite mines, pithead thermal power stations and also has operations in renewable energy sector.

As per the shareholding pattern as on 31 December 2016, the Government of India held 90% stake in the company.

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Industry Seeks WTO DG Support for Advancing Trade Facilitation in Services
Feb 10,2017

n++Indias proposal on Trade Facilitation in Services (TFS), currently tabled at the WTO, is a welcome initiative as services are an essential tool for trade. There is a growing appetite amongst members to advance the TFS agenda and efforts need to be made to engage other members on these issuesn++, said Mr. Roberto Azevedo, DG WTO. n++There are number of ideas being discussed for easing flow of trade such as: movement of persons, cross-border information flows and development and technical assistancen++, he further added.

n++We must embrace and adapt to new realities,n++ he said, pointing out the need to make trade better rather than limiting it. He emphasized the importance of involving MSMEs in global trading networks to bridge gaps and inequities currently persisting in the global trading environment.

The Ambassador noted with regret the slowdown experienced by global trade growth, 1.7% in 2016, which is at its lowest since the 2008 financial crisis. He also mentioned the negative reaction of the global community with more inward looking policies, which he views as a setback for global trade. However, he noted the positive outlook for Indian trade due to various tax and fiscal reforms that the current government has undertaken.

The panel also consisted of Mr. Anup Wadhawan, Additional Secretary, Department of Commerce, Ministry of Commerce and Industry, who reiterated the Indian governments position to maintain the principle of special and differentiated treatment. He reiterated the need to maintain the multilateral trading arrangement which the WTO is also committed to.

Representing Indian industry, the CII President, Dr. Naushad Forbes, echoed the importance of free trade and the central role WTO plays in it. Multilateral negotiations are necessary for this. There is a need to ensure that firms have equal access to all countries for trade. For this, it is imperative that countries understand clearly the concept of Most Favored Nations (MFN) which embodies this principle in the GATT/WTO.

Industry members raised serious concerns about de-globalization and growing clamor for protectionism, particularly in US. Reinvigorating global trade by clearing misconceptions about the impact of trade on employment and the need for multilateralism were key to addressing this very concern.

Mr. Chandrajit Banerjee, the Director General CII, who moderated this session, mentioned the need for the WTO to take the lead in an uncertain global trading environment. There are high hopes from the 11th Ministerial of the WTO which is to take place in Buenos Aires, scheduled towards the end of 2017.

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City Union Bank leads gainers in A group
Feb 10,2017

City Union Bank jumped 4.65% to Rs 157.40 at 13:08 IST. The stock topped the gainers in the BSEs A group. On the BSE, 21,000 shares were traded on the counter so far as against the average daily volumes of 53,000 shares in the past two weeks.

Grasim Industries surged 3.35% to Rs 1,004.55. The stock was the second biggest gainer in A group. On the BSE, 1 lakh shares were traded on the counter so far as against the average daily volumes of 75,000 shares in the past two weeks.

Oberoi Realty gained 3.3% at Rs 337. The stock was the third biggest gainer in A group. On the BSE, 9.52 lakh shares were traded on the counter so far as against the average daily volumes of 30,000 shares in the past two weeks.

Gujarat State Fertilizers & Chemicals advanced 3.22% at Rs 112.05. The stock was the fourth biggest gainer in A group. On the BSE, 3.30 lakh shares were traded on the counter so far as against the average daily volumes of 2.78 lakh shares in the past two weeks.

Polaris Consulting & Services rose 3.01% to Rs 167.75. The stock was the fifth biggest gainer in A group. On the BSE, 57,000 shares were traded on the counter so far as against the average daily volumes of 17,000 shares in the past two weeks.

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Oberoi Realty advances after bulk deal
Feb 10,2017

Meanwhile, the S&P BSE Sensex was up 35.35 points or 0.12% at 28,365.05

Bulk deal boosted volume on the scrip. On BSE, so far 9.48 lakh shares were traded in the counter as against average daily volume of 41,286 shares in the past one quarter. The stock hit a high of Rs 335.45 and a low of Rs 330.50 so far during the day. The stock had hit a record high of Rs 37785 on 3 November 2016. The stock had hit a 52-week low of Rs 210.15 on 12 February 2016.

The large-cap company has equity capital of Rs 339.42 crore. Face value per share is Rs 10.

Oberoi Realtys consolidated net profit dropped 60.01% to Rs 84.92 crore on 66.67% growth in total income to Rs 264.82 crore in Q3 December 2016 over Q3 December 2015.

Oberoi Realty is Indias leading real estate development company, headquartered in Mumbai, focused on premium developments in the residential, office space, retail, hospitality and social infrastructure verticals.

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Indu Nissan Oxo Chemicals Industries to hold board meeting
Feb 10,2017

Indu Nissan Oxo Chemicals Industries will hold a meeting of the Board of Directors of the Company on 13 February 2017, to consider sale of a plot of land belonging to the Company and to authorize any Director therein.

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Board of Power Grid Corporation of India recommends dividend
Feb 10,2017

Power Grid Corporation of India announced that the Board of Directors of the Company at its meeting held on 9 February 2017, inter alia, have recommended the dividend of Rs 1 per equity Share (i.e. 10%), subject to the approval of the shareholders.

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Innoventive Venture to hold board meeting
Feb 10,2017

Innoventive Venture will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider and approve the Un-Audited Financial Results for the Quarter ended 31 December 2016.

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Effingo Textile & Trading to hold board meeting
Feb 10,2017

Effingo Textile & Trading will hold a meeting of the Board of Directors of the Company on 13 February 2017, to consider and approve unaudited financial results for the Quarter Ended 31 December 2016.

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ITD Cementation India to hold board meeting
Feb 10,2017

ITD Cementation India will hold a meeting of the Board of Directors of the Company on 21 February 2017, to consider and approve the Audited Financial Results for the quarter and year ended 31 December 2016 and recommend dividend

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KLG Capital Services appoints director
Feb 10,2017

KLG Capital Services announced that vide circular resolution passed on 10 February 2017, inter alia, approved appointment of J Alexander as an Additional (Independent) Director of the Company for a period of 5 years.

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No decision taken on bank transaction tax; govt. examining recommendations received from Chief Ministers panel: Shaktikanta Das
Feb 10,2017

The government has not taken any decision with regard to the tax on bank transactions, though it has received a set of recommendations from the Committee of Chief Ministers, Economic Affairs secretary, Mr Shaktikanta Das said.

n++The government is carefully examining the report, no decision has been taken so far, as and when a decision is taken, naturally government will give it out,n++ said Mr Das.

Highlighting Indias strong fiscal foundation, he said, n++Fiscal deficit has gradually been brought down, it is necessary to find the right balance between requirements of public expenditure and fiscal consolidation by targeting those sectors of economy where you need to spend more.n++

He said that the government has certain fiscal constraints and it will be difficult for the government to reduce corporate tax rates to 25 per cent overnight because fiscal cost will be very high and government will not be able to do justice to various other sectors of the economy - agriculture, rural infrastructure and other areas.

Talking about Indias growth prospective, Mr Das said though the world scenario overall remains uncertain, the outlook for Indias growth is very positive.

n++We would expect the growth to be upwards of seven per cent on the back of various policy measures taken by the government both before and during the budget and which the government will continue to take in the coming months,n++ said the Economic Affairs secretary.

n++Our growth is premised on creating more job opportunities through increased infrastructure spending by carrying out reforms and new policy initiatives in sectors like - textiles, leather, footwear and other similar sectors by taking tax reform measures, by continuing with the policy of reforms,n++ he added.

With regards to taxation, he said that the government is very much committed to ensure that tax administration is taxpayer friendly. n++Emphasis of the government is on honouring the honest. The Revenue Department, CBEC (Central Board of Excise and Customs) and CBDT (Central Board of Direct Taxes) are taking number of steps to ensure that there is no misuse of power, the annual performance reports of officers in the tax departments together with orders passed by officers of income tax are also being gone through by senior level officers.n++

He also said that private sector should also take stringent steps in this regard. n++While from the government side, we are taking steps, I think from the private sector and industry side we would encourage similar steps to be taken as the tax administration at the highest level, in the ministry is working towards bringing about greater accountability, transparency.n++

Highlighting the strong and robust reforms undertaken by the government on tax side, he said that the reform agenda of the government will continue as spelt out by the finance minister in this years budget.

On the issue of transfer of technology, Mr Das said that India has to use its markets and low-cost manufacturing capabilities to ensure that there is domestic manufacturing. n++We have to spend more on research and developing own technological capabilities.n++

In her address at the ASSOCHAM event, Union Textile Minister, Ms Smriti Irani said stressed upon the need for systematic reforms as the challenges faced by India over 70 years ago still stand.

n++Industry cannot grow at the cost of labour rights, as such the government has also ensured of safeguarding labours interest, besides state levies will be refunded to industry to fuel growth and create job opportunities,n++ said Ms Irani.

n++This government understands the need for entrepreneurship even of the not financially stable section of the society,n++ she said.

She added that another example set by this government is the declaration of rail and general budget together for the first time ever.

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Lypsa Gems & Jewellery secured order worth Rs 15.5 crore in UAE
Feb 10,2017

Lypsa Gems & Jewellery announced that its subsidiary - Lypsa Gems & Jewellery DMCC has received an order of Rs 15.5 crore to supply diamonds and diamond studded jewellery to customers in UAE.

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NHPC fixes record date for buyback of shares
Feb 10,2017

NHPC has fixed Record Date as 20 February 2017 for the purpose of Buyback of equity shares of the Company.

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Prime Securities allots 41800 equity shares
Feb 10,2017

Prime Securities announced that the Board of Directors of the Company, vide a resolution passed by circulation on 09 February 2017, has allotted 41,800 equity shares of face value of Rs. 5/- each to employees, pursuant to the exercise of the Options granted to them under the Employee Stock Option Scheme 2008 (ESOS 2008), at an exercise price of Rs. 15/- per equity share.

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Veronica Production announces new website
Feb 10,2017

Veronica Production announced that the Companys new website address is www.veronicaproduction.com

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