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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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PVV Infra to hold board meeting
May 08,2017

PVV Infra will hold a meeting of the Board of Directors of the Company on 13 May 2017, to consider and approve the Audited Financial Results for the Fourth Quarter and year ended 31st March 2017

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Board of Spenta International recommends final dividend
May 08,2017

Spenta International announced that the Board of Directors of the Company at its meeting held on 5 May 2017, inter alia, have recommended the final dividend of Rs 1.3 per equity Share (i.e. 13%) , subject to the approval of the shareholders.

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Board of Shoppers Stop recommends final dividend
May 08,2017

Shoppers Stop announced that the Board of Directors of the Company at its meeting held on 5 May 2017, inter alia, have recommended the final dividend of Rs 0.75 per equity Share (i.e. 15%) , subject to the approval of the shareholders.

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Board of Dalmia Bharat Sugar & Industries recommends final dividend
May 08,2017

Dalmia Bharat Sugar & Industries announced that the Board of Directors of the Company at its meeting held on 5 May 2017, inter alia, have recommended the final dividend of Rs 2 per equity Share (i.e. 100%) , subject to the approval of the shareholders.

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NGL Fine Chem to hold AGM
May 08,2017

NGL Fine Chem announced that the Annual General Meeting (AGM) of the company will be held on 11 August 2017.

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Fitch: Global Demand for New Autos to Increase 1%-2% in 2017
May 08,2017

Global demand for new vehicles will increase 1%-2% in 2017, according to Fitch Ratings. Growth in China, Europe and Brazil will more than offset demand declines in the U.S., Japan and South Korea. In the US, we expect sales to decrease to 17.0 million in 2017 from 17.5 million in 2016.

In China, sales growth will likely fall to the mid-single-digit range in 2017. The government has partially rolled back the tax incentive on small-engine vehicles that it enacted in 2015, raising the vehicle purchase tax to 7.5% from 5%. The tax increase will be phased-in to cushion the impact on vehicle sales, but Chinese consumers pulled forward their purchase of qualifying vehicles in late 2016 in anticipation of the tax increase, leading to lower sales of these vehicles in 2017.

European sales remain about 10% off their 2007 peak. We expect growth of 2% to 3% in 2017 in Europe due to pent-up demand, continued favorable economic conditions in several countries and low interest rates supporting vehicle purchasing.

US trade policy is also a key focus of investors. Among the Detroit auto manufacturers, a broad-based increase in import taxes on vehicles from Mexico would likely have a more significant impact on General Motors Company (GM) and Fiat Chrysler Automobiles N.V. (FCA) than on Ford Motor Company. Auto suppliers are less likely to be directly affected by import taxes, but a decline in demand for vehicles manufactured in Mexico would negatively affect the suppliers that manufacture components for them.

The Trump administration is also looking at relaxing some of the emissions and fuel efficiency regulations that were enacted under the Obama administration. However, due to continued tightening of emissions regulations outside the US, global auto manufacturers will likely continue investing in lower emission technologies. Also, auto manufacturers will likely try to avoid getting caught off-guard if fuel prices unexpectedly rise.

The migration toward electrified powertrains and the quickening pace of research into autonomous vehicles are also driving radical changes in the global auto industry. Although the effect of these changes will not be a near-term threat to traditional auto manufacturers and suppliers, the potential long-term effects could be substantial. Auto manufacturers and suppliers are competing with numerous start-ups and technology companies to dictate the terms of the coming disruption in personal mobility. Traditional auto manufacturers risk losing relevance as the mobility landscape changes.

As the global auto industry evolves, Fitch is placing increased emphasis on auto issuers long-term positioning relative to developing trends. A rapid change in the competitive environment could alter our view regarding issuers market positions, which could affect their ratings, although the shifting landscape is unlikely to have a direct effect on issuers ratings in the near term.

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Fitch: Basel III Implementation in APAC to Follow Global Pace
May 08,2017

Implementation of the second wave of Basel III rules might continue to be delayed in the Asia-Pacific (APAC) by a lack of progress in other markets, as regulators in this region have remained reluctant to take a lead in implementing requirements ahead of their global peers, Fitch Ratings says.

However, the credit profiles of APAC banks are unlikely to be significantly affected. We expect most APAC regulators will continue to push ahead with consultations, and most plan to be ready to meet scheduled deadlines, even if implementation is likely to be contingent on international progress. Moreover, APAC banks are still likely to prepare for the new requirements by further building up capital and other loss-absorbing buffers, which will strengthen their financial profiles and underpin ratings.

Implementation of some components of Basel III in APAC banking systems has already been delayed from the timeline set by the Basel Committee as a result of developments elsewhere. A new standardised approach for measuring counterparty credit risk exposures and revised capital requirements for equity investments in funds and for central counterparties - initially scheduled to be introduced by January 2017 - were delayed by US pushback and lengthy legislative processes in the EU. Those rules are likely to have a greater impact on European and US banks than banks in APAC. Only Singapore in APAC stuck to the agreed timeline, and it has applied transitional arrangements. Korea and India have rules scheduled to come into effect in January 2018, while those in Hong Kong, Australia and Indonesia are at the draft stage. Taiwans rules are final, but their implementation has been delayed to align with other jurisdictions.

There is a risk of delays to other Basel III regulations set to be introduced in the next few years, but we expect requirements on leverage ratios and net stable funding ratios (NSFR) to come into effect in January 2018, as planned. Most APAC banks are unlikely to have difficulty meeting leverage ratio requirements, as they do not generally hold huge stocks of low-risk-weighted assets.

Looking further ahead, we expect APAC regulators will continue to embrace the Basel Committees risk-weighted asset initiatives, including measures to limit capital relief from banks use of internal models, once these are finalised. Banks in APAC are less reliant on models than those in Europe, with regulators already sceptical of models being used to reduce risk-weighted assets, as evidenced by some of them having applied risk-weight floors to certain exposures. In addition, we expect that supervisory work across APAC will continue to result in frequent use of macro-prudential regulation to address the build-up of specific risk pockets or risks at a system-wide level.

A major reporting change is also scheduled for 2018, with the adoption in 10 jurisdictions of IFRS 9 - the new international standard that, among other things, introduces expected credit-loss provisioning requirements. We expect loan loss provision charges to be more volatile under IFRS 9, giving a better reflection of how risk evolves, while total loan loss allowances will tend to be higher. However, banks in some markets should be able to limit the provisioning impact by releasing reserves to offset initial additional charges.

Bank resolution remains a relatively low priority in the region. Frameworks are becoming stronger in jurisdictions where resolution regimes exist or are being developed, but progress has been slow and frameworks remain untested. Fitch expects sovereign support to remain available in most APAC jurisdictions, as regulators will be reluctant to require the bail-in of troubled banks senior debt holders in systems where financial markets are still developing or where banks are reliant on wholesale funding. A large deposit base that limits funds available for bail-in also weakens appetite for adding this option to resolution frameworks in a few countries.

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Ind-Ra: Daily Fuel Price Revisions to Boost OMCs Marketing Margins
May 08,2017

The governments recent decision to move to a daily fuel price revision for petrol and diesel is likely to result in improvement in the marketing margin per litre and thus the profitability of Oil Marketing Companies (OMCs), says India Ratings and Research (Ind-Ra). This move is another positive structural changes initiated by the government in the downstream sector. The other structural changes include the petrol deregulation in 2010, the diesel de-regulation in 2014, direct benefit transfer for LPG, give-it-up scheme for LPG, lowering the allocation of PDS kerosene, hike in prices of kerosene and the decline in crude prices had resulted in a decline in the gross under-recoveries. The diesel and petrol de-regulation had also resulted in an increase in the marketing margins for OMCs.

The increase in marketing margins per litre for the OMCs namely Indian Oil Corporation (IOC, IND AAA/Stable), Hindustan Petroleum Corporation (HPCL, IND AAA/Stable), and Bharat Petroleum Corporation (BPCL) will be driven by a) greater flexibility with OMCs to pass on the crude price volatility to the end-consumers at a higher frequency b) lower need for steep price hikes that was seen in the fortnightly pricing regime and thus lowering the possibility of political intervention and c) lower hoarding by the dealers in anticipation of price rises which resulted in probably a bigger share of inventory gains on the marketing segment at the dealer level rather than at the OMC level.

However, an increase in the marketing margins could also result in an increase in competition from private sector owned retail outlets and hence OMCs may balance the marketing margins to limit competition.

The OMCs will be free to change the prices of petrol and diesel on a daily basis, in-line with global best practices as against the current fortnightly price revision. In the current regime, the OMCs revise the rates on the 1 and the 16 of every month, based on the average price of crude and the exchange rate in the preceding 15 days. In the US, where the prices are revised on a daily basis the maximum upward price change was 60paisa/litre, while the maximum downward revision was 50paisa/litre with a median change of around 1paisa/litre in FY17. However, in India, the maximum upward price change during FY17 was INR3.38/litre, while the maximum downward revision was INR2.25/litre for petrol prices in Delhi.

Initially, the pilot for the daily price revision will be launched in Puducherry, Vizag in Andhra Pradesh, Udaipur in Rajasthan, Jamshedpur in Jharkhand and Chandigarh and gradually extended to other parts of the country.

Over the last three to four years, the downstream sector has seen a slew of structural changes which have helped the OMCs to reduce their short-term borrowings and consequently the interest burden substantially. In the last two years FY14-FY16, gross borrowing of PSU OMCs have fallen 29% and interest cost has consequently declined by 37%.

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Blue Dart crashes after weak Q4 result
May 08,2017

The result was announced after market hours on Friday, 5 May 2017.

Meanwhile, the S&P BSE Sensex was up 81.09 points or 0.27% at 29,939.89

On BSE, so far 585 shares were traded in the counter as against average daily volume of 2,978 shares in the past one quarter. The stock hit a high of Rs 4,795 and a low of Rs 4,675.20 so far during the day.

The stock had hit a 52-week high of Rs 6,333 on 3 June 2016. The stock had hit a 52-week low of Rs 4,162.10 on 27 December 2016. The stock had underperformed the market over the past 30 days till 5 May 2017, sliding 6.97% compared with 0.23% fall in the Sensex. The scrip, however, outperformed the market in past one quarter, gaining 11.02% as against Sensexs 5.73% rise.

The large-cap company has equity capital of Rs 23.73 crore. Face value per share is Rs 10.

Blue Dart Express Managing Director, Anil Khanna, said that it was a turbulent and challenging financial year for the industry and the companys business, due to the subdued economic environment and reduced consumer spending. However, with a clear focus on managing cost pressures and improving efficiency, the company has displayed a modest performance this year, Anil Khanna said. The company awaits the roll out of Goods and Service Tax (GST) and is confident of sustaining growth in the coming quarters as well and will see greater acceleration as the year unfolds, he said.

Blue Dart Express accesses the largest and most comprehensive express and logistics network worldwide, covering over 220 countries and territories and offers an entire spectrum of distribution services including air express, freight forwarding, supply chain solutions and customs clearance.

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Chembond Chemicals reports consolidated net profit of Rs 1.94 crore in the March 2017 quarter
May 08,2017

Net profit of Chembond Chemicals reported to Rs 1.94 crore in the quarter ended March 2017 as against net loss of Rs 2.33 crore during the previous quarter ended March 2016. Sales rose 0.52% to Rs 71.90 crore in the quarter ended March 2017 as against Rs 71.53 crore during the previous quarter ended March 2016.

For the full year,net profit declined 94.95% to Rs 7.76 crore in the year ended March 2017 as against Rs 153.65 crore during the previous year ended March 2016. Sales rose 3.69% to Rs 280.52 crore in the year ended March 2017 as against Rs 270.54 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales71.9071.53 1 280.52270.54 4 OPM %7.22-1.44 -6.344.68 - PBDT5.6216.99 -67 19.8742.68 -53 PBT4.6316.12 -71 16.0639.13 -59 NP1.94-2.33 LP 7.76153.65 -95

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Chembond Chemicals reports standalone net profit of Rs 0.69 crore in the March 2017 quarter
May 08,2017

Net profit of Chembond Chemicals reported to Rs 0.69 crore in the quarter ended March 2017 as against net loss of Rs 2.89 crore during the previous quarter ended March 2016. Sales declined 3.95% to Rs 53.06 crore in the quarter ended March 2017 as against Rs 55.24 crore during the previous quarter ended March 2016.

For the full year,net profit declined 97.80% to Rs 3.32 crore in the year ended March 2017 as against Rs 151.23 crore during the previous year ended March 2016. Sales rose 0.85% to Rs 216.95 crore in the year ended March 2017 as against Rs 215.12 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales53.0655.24 -4 216.95215.12 1 OPM %2.94-8.67 -2.14-0.07 - PBDT1.9215.03 -87 6.9432.67 -79 PBT1.2014.33 -92 4.2129.98 -86 NP0.69-2.89 LP 3.32151.23 -98

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Gati consolidated net profit declines 40.22% in the March 2017 quarter
May 08,2017

Net profit of Gati declined 40.22% to Rs 9.29 crore in the quarter ended March 2017 as against Rs 15.54 crore during the previous quarter ended March 2016. Sales declined 3.35% to Rs 410.28 crore in the quarter ended March 2017 as against Rs 424.52 crore during the previous quarter ended March 2016.

For the full year,net profit declined 19.88% to Rs 29.51 crore in the year ended March 2017 as against Rs 36.83 crore during the previous year ended March 2016. Sales rose 0.95% to Rs 1672.27 crore in the year ended March 2017 as against Rs 1656.56 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales410.28424.52 -3 1672.271656.56 1 OPM %5.218.92 -6.697.90 - PBDT14.9234.09 -56 85.02103.14 -18 PBT13.8724.27 -43 50.2464.82 -22 NP9.2915.54 -40 29.5136.83 -20

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Gati standalone net profit rises 28.55% in the March 2017 quarter
May 08,2017

Net profit of Gati rose 28.55% to Rs 7.70 crore in the quarter ended March 2017 as against Rs 5.99 crore during the previous quarter ended March 2016. Sales declined 3.45% to Rs 121.76 crore in the quarter ended March 2017 as against Rs 126.11 crore during the previous quarter ended March 2016.

For the full year,net profit rose 50.13% to Rs 29.77 crore in the year ended March 2017 as against Rs 19.83 crore during the previous year ended March 2016. Sales rose 4.53% to Rs 494.41 crore in the year ended March 2017 as against Rs 472.98 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales121.76126.11 -3 494.41472.98 5 OPM %3.018.90 -9.179.13 - PBDT3.1410.94 -71 42.9938.52 12 PBT8.696.87 26 32.8822.33 47 NP7.705.99 29 29.7719.83 50

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Kandagiri Spinning Mills reports standalone net profit of Rs 8.57 crore in the March 2017 quarter
May 08,2017

Net profit of Kandagiri Spinning Mills reported to Rs 8.57 crore in the quarter ended March 2017 as against net loss of Rs 3.79 crore during the previous quarter ended March 2016. Sales declined 58.12% to Rs 11.73 crore in the quarter ended March 2017 as against Rs 28.01 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 11.16 crore in the year ended March 2017 as against net loss of Rs 11.34 crore during the previous year ended March 2016. Sales declined 46.75% to Rs 77.02 crore in the year ended March 2017 as against Rs 144.63 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales11.7328.01 -58 77.02144.63 -47 OPM %-25.583.64 --9.365.82 - PBDT-5.49-1.86 -195 -19.49-3.75 -420 PBT-6.88-3.79 -82 -26.61-11.34 -135 NP8.57-3.79 LP -11.16-11.34 2

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AYM Syntex standalone net profit declines 34.34% in the March 2017 quarter
May 08,2017

Net profit of AYM Syntex declined 34.34% to Rs 8.26 crore in the quarter ended March 2017 as against Rs 12.58 crore during the previous quarter ended March 2016. Sales rose 0.17% to Rs 196.88 crore in the quarter ended March 2017 as against Rs 196.54 crore during the previous quarter ended March 2016.

For the full year,net profit declined 15.95% to Rs 40.14 crore in the year ended March 2017 as against Rs 47.76 crore during the previous year ended March 2016. Sales declined 2.21% to Rs 775.75 crore in the year ended March 2017 as against Rs 793.25 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales196.88196.54 0 775.75793.25 -2 OPM %9.9915.90 -12.4413.31 - PBDT15.2425.57 -40 77.7586.99 -11 PBT7.3718.81 -61 47.4862.92 -25 NP8.2612.58 -34 40.1447.76 -16

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