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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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NOCIL standalone net profit rises 13.00% in the March 2017 quarter
May 09,2017

Net profit of NOCIL rose 13.00% to Rs 25.46 crore in the quarter ended March 2017 as against Rs 22.53 crore during the previous quarter ended March 2016. Sales rose 7.41% to Rs 190.81 crore in the quarter ended March 2017 as against Rs 177.65 crore during the previous quarter ended March 2016.

For the full year,net profit rose 54.49% to Rs 120.10 crore in the year ended March 2017 as against Rs 77.74 crore during the previous year ended March 2016. Sales rose 3.78% to Rs 742.21 crore in the year ended March 2017 as against Rs 715.21 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales190.81177.65 7 742.21715.21 4 OPM %21.3821.11 -21.3119.31 - PBDT42.1836.23 16 165.10131.85 25 PBT38.5932.79 18 150.78118.13 28 NP25.4622.53 13 120.1077.74 54

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Total Foodgrains Production Estimates at record 273.38 mt
May 09,2017

The 3rd Advance Estimates of production of major crops for 2016-17 have been released today by the Department of Agriculture, Cooperation and Farmers Welfare. The assessment of production of different crops is based on the feedback received from States and validated with information available from other sources. As a result of very good rainfall during monsoon 2016 and various policy initiatives taken by the Government, the country has witnessed record foodgrain production in the current year. The estimated production of various crops as per the 3rd Advance Estimates for 2016-17 vis-n++-vis the comparative estimates for the years 2003-04 onwards is enclosed.

As per 3rd Advance Estimates, the estimated production of major crops during 2016-17 is as under:

n++ Foodgrains - 273.38 million tonnes (record)

n++ Rice - 109.15 million tonnes (record)

n++ Wheat - 97.44 million tonnes (record)

n++ Coarse Cereals - 44.39 million tonnes (record)

n++ Maize - 26.14 million tonnes (record)

n++ Pulses - 22.40 million tonnes (record)

n++ Gram - 9.08 million tonnes

n++ Tur - 4.60 million tonnes (record)

n++ Urad - 2.93 million tonnes (record)

n++ Oilseeds - 32.52 million tonnes

n++ Soyabean - 14.01 million tonnes

n++ Groundnut - 7.65 million tonnes

n++ Castorseed - 1.55 million tonnes

n++ Cotton - 32.58 million bales (of 170 kg each)

n++ Sugarcane - 306.03 million tonnes

As a result of very good rainfall during monsoon 2016 and various policy initiatives taken by the Government, the country has witnessed record foodgrain production in the current year. As per Third Advance Estimates for 2016-17, total Foodgrain production in the country is estimated at 273.38 million tonnes which is higher by 8.34 million tonnes (3.15%) than the previous record production of Foodgrain of 265.04 million tonnes achieved during 2013-14. The current years production is also higher by 16.37 million tonnes (6.37%) than the previous five years (2011-12 to 2015-16) average production of Foodgrains. The current years production is significantly higher by 21.81 million tonnes (8.67%) than the last years foodgrain production.

Total production of Rice is estimated at record 109.15 million tonnes which is also a new record. This years Rice production is higher by 2.50 million tonnes (2.34%) than previous record production of 106.65 million tonnes achieved during 2013-14. It is also higher by 3.73 million tonnes (3.54%) than the five years average Rice production of 105.42 million tonnes. Production of rice has increased significantly by 4.74 million tonnes (4.54%) than the production of 104.41 million tonnes during 2015-16.

Production of Wheat, estimated at 97.44 million tonnes is also a record. This years wheat production is higher by 1.66% than the previous record production of 95.85 million tonnes achieved during 2013-14. Production of Wheat during 2016-17 is also higher by 4.83 million tonnes (5.21%) than the average wheat production. The current years production is higher by 5.15 million tonnes (5.58%) as compared to Wheat production of 92.29 million tonnes achieved during 2015-16.

Production of Coarse Cereals estimated at a new record level of 44.39 million tonnes is higher than the average production by 3.04 million tonnes (7.36%). It is higher than the previous record production of 43.40 million tonnes achieved during 2010-11 by 0.99 million tonnes (2.28%). Current years production is also higher by 5.87 million tonnes (15.23%) as compared to their production of 38.52 million tonnes achieved during 2015-16.

As a result of significant increase in the area coverage and productivity of all major Pulses, total production of pulses during 2016-17 is estimated at 22.40 million tonnes which is higher by 3.15 million tonnes (16.37%) than the previous record production of 19.25 million tonnes achieved during 2013-14. Production of Pulses during 2016-17 is also higher by 4.77 million tonnes (27.03%) than their Five years average production. Current years production is higher by 6.05 million tonnes (37.03%) than the previous years production of 16.35 million tonnes.

With an increase of 7.27 million tonnes (28.80%) over the previous year, total Oilseeds production in the country is estimated at 32.52 million tonnes. The production of Oilseeds during 2016-17 is also higher by 3.27 million tonnes (11.17%) than the five years average Oilseeds production.

Production of Sugarcane is estimated at 306.03 million tonnes which is lower by 42.42 million tonnes (-12.17%) than the last years production of 348.45 million tonnes.

Despite lower area coverage during 2016-17, higher productivity of Cotton has resulted into higher production of 32.58 million bales (of 170 kg each), i.e. an increase of 8.57%, as compared to 30.01 million bales during 2015-16.

Production of Jute & Mesta estimated at 10.27 million bales (of 180 kg each) is marginally lower (-2.39%) than their production of 10.52 million bales during the last year.

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Board of Pure Giftcarat recommends final dividend
May 09,2017

Pure Giftcarat announced that the Board of Directors of the Company at its meeting held on 6 May 2017, inter alia, have recommended the final dividend of Rs 7 per equity Share (i.e. 70%) , subject to the approval of the shareholders.

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Board of LG Balakrishnan & Bros recommends final dividend
May 09,2017

LG Balakrishnan & Bros announced that the Board of Directors of the Company at its meeting held on 6 May 2017, inter alia, have recommended the final dividend of Rs 7 per equity Share (i.e. 70%) , subject to the approval of the shareholders.

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Sea TV Network CFO resigns
May 09,2017

Sea TV Network announced that Ravi Shrivastava has tendered his resignation as the CFO of the Company with effect from 08 May 2017.

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Board of Chembond Chemicals recommends final dividend
May 09,2017

Chembond Chemicals announced that the Board of Directors of the Company at its meeting held on 6 May 2017, inter alia, have recommended the final dividend of Rs 1.65 per equity Share (i.e. 33%) , subject to the approval of the shareholders.

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Board of Gati recommends final dividend
May 09,2017

Gati announced that the Board of Directors of the Company at its meeting held on 6 May 2017, inter alia, have recommended the final dividend of Rs 0.8 per equity Share (i.e. 40%) , subject to the approval of the shareholders.

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Atul intimates of execution of JV agreements with Akzo Noble Chemicals International B.V.
May 09,2017

Atul announced that the joint venture agreements have been executed between Atul, its affiliates and Akzo Noble Chemicals International B.V. on 09 May 2017.

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Asias Dynamic Economies Continue to Lead Global Growth-IMF
May 09,2017

The Asia and Pacific region continues to deliver strong growth, in the face of widespread concerns about growing protectionism, a rapidly aging society, and slow productivity growth, according to the IMFs latest regional assessment, as per IMF Regional Economic Outlook for Asia and the Pacific.

The Regional Economic Outlook for Asia and the Pacific estimates growth for the region to increase this year to 5.5 percent from 5.3 percent in 2016. Growth will remain strong at 5.4 percent in 2018, as the region continues to be the leader of global growth.

The report also cites the more favorable global environment with growth accelerating in many major advanced and emerging market economiesn++notably the United States and commodity exportersn++as supporting Asias positive outlook. Risk appetite remains strong in global financial markets despite some bouts of capital flow volatility in late 2016.

n++The signs of growth in the region are encouraging so far. The policy challenge now is to strengthen and sustain this momentum,n++ said Changyong Rhee, Director of the IMFs Asia and Pacific Department.

Strong growth ahead

In China, the regions biggest and the worlds second largest economy, policy stimulus is expected to keep supporting demand. Although still robust with 2017 first quarter growth slightly stronger than expected, growth is projected to decelerate to 6.6 percent in 2017 and 6.2 in 2018.

This slowdown is predicated on a cooling housing market, partly reflecting recent tightening measures, weaker wage and consumption growth, and a stable fiscal deficit.

Japans growth forecast for 2017 has been raised to 1.2 percent with support from expansionary fiscal policy and the postponement of the consumption tax hike (from April 2017 to October 2019). The expansion would slow down to 0.6 percent in 2018 as the boost from the fiscal stimulus wears off.

The outlook for other Asian economies is also positive, but with some exceptions. Indias growth is expected to rebound to 7.2 percent in FY 2017-18 as the cash shortages accompanying the currency exchange initiative ease.

In most of the Southeast Asian economies, growth is expected to accelerate somewhat, supported by robust domestic demandn++an important driver of growth in these countries. Meanwhile, growth in Korea is projected to remain subdued at 2.7 percent this year despite the recent pick up in exports, mainly owing to weak consumption.

Uncertain outlook: downside risks

The regions outlook, however, is clouded with uncertainty. On the plus side, larger-than-expected fiscal stimulus in the United States or stronger business and consumer confidence in advanced economies could provide a further boost to Asias exports and growth. Reforms, such as productive public investment in infrastructure in ASEAN and South Asian economies, could help prolong the positive momentum.

But if the U.S. fiscal stimulus leads to higher-than-expected inflation pressures, the Federal Reserve could accelerate the pace of interest rate increases in response, leading to a stronger U.S. dollar.

A sudden tightening of global financial conditions could adversely impact Asian economies with high external financing needs and weak private sector balance sheets, including by triggering capital outflows and unwinding of productive investment projects.

Asian economies are especially vulnerable to protectionism because of their trade openness and integration to global value chains. A global shift toward inward-looking policies could suppress Asias exports and reduce foreign direct investment to Asia. Furthermore, a bumpier-than-expected transition in China or geopolitical tensions in the region could also weaken near-term growth.

Challenges to growth

Asia needs to tackle two longer-term challenges: population aging and slow productivity catch-up. According to the report, Asia is aging remarkably fast compared to the experience in Europe and the United States. As a population grows older, there will be fewer workers, and over time, a shrinking workforce and aging population can mean a rise in healthcare costs and pension expenditure.

This puts pressure on government budgets, and can translate into lower growth. The report estimates that over the next three decades, demographic trends could subtract 0.5 to 1 percentage point from average annual GDP growth in relatively old Asian economies such as China and Japan.

Slow productivity growth is another worry. The region has not been able to catch up to the high productivity levels of countries at the global technology frontier. Declines in trade and foreign direct investment could also be harmful to Asian economies given their vital roles in transmitting technology and promoting domestic competition.

Policies to reinforce growth

Given these challenges, macroeconomic policies should focus on supporting demand and structural reforms.

The report notes that monetary policy should stay accommodative in economies with economic slack and below-target inflation rates. Should inflation pressures gather pace, however, central banks should stand ready to raise policy rates.

Well-targeted structural reforms would help strengthen the regions resilience to external shocks and sustain strong and inclusive long-term growth. Considering Asias rapid aging, policies aimed at protecting the vulnerable elderly population and prolonging strong growth take on a particular urgency. These include measures that promote labor force participation of women and the elderly, as well as strengthening pension systems.

These policies should be supplemented by productivity-enhancing reforms. Priorities differ across Asias dynamic economies. Advanced Asian economies should focus on making research and development spending more effective and raising productivity in the services sector.

In emerging and developing economies, attracting foreign direct investment and expanding the economys capacity to absorb new technology and boost domestic investment is more urgent. These steps will help the region to build on and continue with the growth momentum.

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Majesco allots 45136 equity shares
May 09,2017

Majesco has allotted 45136 equity shares under ESOS.

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Carborundum Universal to pay final dividend
May 09,2017

Carborundum Universal announced that it will pay final dividend on 07 August 2017.

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FPIs extend selling
May 09,2017

Foreign portfolio investors (FPIs) sold stocks worth a net Rs 590.86 crore into the secondary equity markets yesterday, 8 May 2017, higher than their net outflow of Rs 391.44 crore on Friday, 5 May 2017. On that day, The Sensex rose 67.35 points or 0.23% to settle at 29,926.15, its highest closing level since 4 May 2017.

The net outflow of Rs 590.86 crore on 8 May 2017 was a result of gross purchases of Rs 3354.63 crore and gross sales of Rs 3945.49 crore.

There was a net inflow of Rs 9.51 crore into the category primary market & others on 8 May 2017 which was a result of gross purchases of Rs 9.77 crore and gross sales of Rs 0.26 crore.

FPIs have sold stocks worth a net Rs 3081.98 crore into the secondary equity markets in May 2017 so far (till 8 May 2017). They sold stocks worth a net Rs 1645.32 crore in April 2017.

FPIs have purchased shares worth a net Rs 31760.17 crore from the secondary equity markets in calendar year 2017 so far (till 8 May 2017). They had purchased shares worth a net Rs 12094.42 crore from the secondary equity markets in calendar year 2016.

FPIs have purchased stocks worth a net Rs 571.98 crore from the category primary market & others in May 2017 so far (till 8 May 2017). They had bought stocks worth a net Rs 4039.81 crore from the category primary market & others in April 2017.

FPIs have purchased shares worth a net Rs 7755.90 crore from the category primary markets & others in calendar year 2017 so far (till 8 May 2017). The net inflow from FPIs into the category primary markets & others had totaled Rs 8471.76 crore in calendar year 2016.

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P&G scales record high after fixing record date for special dividend
May 09,2017

Meanwhile, the S&P BSE Sensex was up 7.10 points, or 0.02% to 29,933.25

On the BSE, 1,655 shares were traded in the counter so far, compared with average daily volumes of 2,878 shares in the past one quarter. The stock had hit a high of Rs 8,052 during the day, which is also a record high for the counter. The stock had hit a low of Rs 7,814 in intraday trade. The stock hit a 52-week low of Rs 6,025 on 29 June 2016.

The large-cap company has equity capital of Rs 32.46 crore. Face value per share is Rs 10.

Procter & Gamble Hygiene and Health Cares net profit rose 2.65% to Rs 99.63 crore on 5.53% rise in net sales to Rs 573.87 crore in Q3 March 2017 over Q3 March 2016. The result was announced after market hours on Friday, 5 May 2017. The stock had gained 5.92% to settle at Rs 7,810.05 yesterday, 8 May 2017.

The stock offers a dividend yield of 4.53% based on its current price of Rs 7,974.40 on the BSE today, 9 May 2017. The board of Procter & Gamble Hygiene and Health Care had declared a special interim dividend of Rs 362 per equity share.

Procter & Gamble Hygiene and Health Care is an FMCG company.

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Moodys: Productivity growth slowdown remains a sizeable risk to global growth
May 09,2017

The persistent decline in labor productivity growth, one of the key drivers of overall economic performance, corporate profitability and the government tax base, remains among the most significant risks to the outlook for global growth, says Moodys Investors Service in a new report.

Moodys expects global growth to accelerate to 3.1% this year and 3.5% in 2018 from 2.7% in 2016, as most advanced economies register stable growth and some emerging market economies regain momentum after several years of deceleration.

Despite the cyclical uptick, we expect global growth to remain significantly below pre-crisis levels in the near term, driven by slower growth in both employment and labor productivity, says Elena Duggar, an Associate Managing Director at Moodys.

While we expect productivity growth to rebound somewhat this year and next, there will be a notable impact on growth if it fails to improve, adds Duggar.

For example, should productivity growth remain at its 2016 pace of 1.2% or even at its average pace of 1.7% over 2011-2015, global growth in 2018 could be as low as 2.5% or 3% respectively, compared to Moodys current expectation of 3.5%.

Productivity growth has been slowing for a number of years, and in particular following the financial crisis. This trend is being driven by a combination of factors, including weak investment in the aftermath of the crisis due to the constrained availability of credit. A high degree of business pessimism and elevated economic and policy uncertainty has also contributed to the decline, partly by tilting investment away from higher-risk higher-return projects, which are the drivers of rising productivity growth.

Long-term trends such as population aging and the slowing growth in human capital and education are also behind the decline in productivity growth, as well as slower technology diffusion, lower dynamism of the economy, reduced technological spillovers due to the falling pace of globalization, and exhausted gains from sectoral reallocation in many countries globally.

The report examines the extent of the productivity growth slowdown across 123 countries globally, its drivers, its meaning for the economy, and why Moodys believes it remains a sizeable downside risk to global economic growth and, consequently, credit conditions.

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Vijaya Bank vaults after stellar Q4 outcome
May 09,2017

The result was announced during market hours today, 9 May 2017.

Meanwhile, the S&P BSE Sensex was up 1.30 points at 29,927.45

On the BSE, 24.09 lakh shares were traded on the counter as against the average daily volumes of 2.69 lakh shares in the past one quarter. The stock hit a high of Rs 97.40 in intraday trade, which is 52-week high for the counter. The stock hit a low of Rs 89.90 in intraday trade. The stock had hit a 52-week low of Rs 29.65 on 1 June 2016.

The mid-cap state-run bank has equity capital of Rs 998.85 crore. Face value per share is Rs 10.

The banks gross non-performing assets (NPAs) stood at Rs 6381.78 crore as on 31 March 2017 as against Rs 6304.65 crore as on 31 December 2016 and Rs 6027.07 crore as on 31 March 2016.

The ratio of gross NPAs to gross advances stood at 6.59% as on 31 March 2017 as against 6.98% as on 31 December 2016 and 6.64% as on 31 March 2016.

The ratio of net NPAs to net advances stood at 4.36% as on 31 March 2017 as against 4.74% as on 31 December 2016 and 4.81% as on 31 March 2016.

The Government of India held 70.33% stake in the bank as at 31 March 2017.

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