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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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Rockon Enterprises appoints director
Dec 30,2016

Rockon Enterprises announced that the Board of Directors of the company at its meeting held on 30 December 2016 has appointed Aarti Gavnang as an Additional Director of the Company in the category of Non Executive Independent Director with effect from 30 December 2016.

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Firstsource Solutions provides update on US subsidiary
Dec 30,2016

Firstsource Solutions announced that Firstsource Group USA, Inc, a wholly owned subsidiary of the Company has successfully made its Seventh quarterly repayment of USD 11.25 million on its outstanding debt on 31 December 2016.

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During the current Financial Year 2016-17, the Indian Economy continues to consolidate the gains achieved in restoring macro-economic stability
Dec 30,2016

During the current Financial Year 2016-17, the Indian Economy has continued to consolidate the gains achieved in restoring macro-economic stability. Despite the continuing global sluggishness and recent pick-up in petroleum prices, the economic growth has continued to be robust and inflation has remained more or less stable in the current year, while Fiscal Deficit and Current Account Deficit as percentage of GDP have improved. The Growth Rate of the economy during the First Half of the current Financial Year is estimated at 7.2 per cent, which makes India one of the fastest growing major economies in the world. At the sectoral level, the growth rates for agriculture & allied sectors, industry and services sectors for the First Half of the current year are estimated at 2.5 per cent, 5.6 per cent, and 9.2 per cent respectively. The stress given to fiscal consolidation through expenditure rationalization and revenue raising efforts and the focus on administrative measures for cooperative financial governance and also steps towards containing inflation have contributed significantly to macro-economic stability.

Inflation

Inflation measured in terms of Consumer Price Index and Wholesale Price Index has remained in comfort zone during the current Financial Year 2016-17. CPI (Combined) inflation for 2015-16 declined to 4.9 per cent from 5.9 per cent in 2014-15. It averaged 5.2 per cent in 2016-17 (Apr-Oct) and stood at 4.2 per cent in October 2016. Food inflation as measured by Consumer Food Price Index (CFPI) declined to 4.9 per cent in 2015-16 from 6.4 per cent in 2014-15. It averaged 6.1 per cent in 2016-17 (Apr-Oct) and eased to 3.3 per cent in October 2016.WPI inflation declined to (-) 2.5 per cent in 2015-16 from 2.0 per cent in 2014-15. It averaged 2.7 per cent in 2016-17 (Apr-Oct) and stood at 3.4 per cent in October 2016.

As per the revised Monetary Policy Framework, the Government has fixed the inflation target of 4 per cent with tolerance level of +/- 2 per cent for the period beginning from August 5, 2016 to March 31, 2021. The Government monitors the price situation on a regular basis as controlling inflation is a key priority and has taken a number of measures to control inflation especially food inflation. The steps taken, inter alia, include, (i) increased allocation of Rs. 900 crore for Price Stabilization Fund in the budget 2016-17 to check volatility of prices of essential commodities, in particular of pulses; (ii) created buffer stock of pulses through domestic procurement and imports; (iii) announced higher Minimum Support Prices so as to incentivize production; (iv) issued advisory to States/UTs to take strict action against hoarding and black marketing under the Essential Commodities Act 1955 and the Prevention of Black-marketing and Maintenance of Supplies of Essential Commodities Act, 1980.

Trade

Indias merchandise exports (customs basis) declined by 15.5 per cent to US$ 262.3 billion in 2015-16. In 2016-17 (April-October), growth of exports declined by 0.2 per cent (US$ 154.9 billion vis-n++-vis US$ 155.2 billion in the corresponding period of previous year). Imports declined by 15.0 per cent to US$ 381.0 billion in 2015-16. Imports for 2016-17 (April-October) were at US$ 208.1 billion which is lower by 10.9 per cent as compared to US$ 233.4 billion in the corresponding period of previous year. During 2016-17 (April-October), trade deficit decreased to US$ 53.2 billion as against US$ 78.2 billion in the corresponding period of previous year. There has been significant market diversification in Indias trade from Europe and America to Asia and Africa in recent years -a process that has helped in coping up with the sluggish global demand.

Balance of Payments

Current Account Deficit (CAD) narrowed down to US$ 22.2 billion (1.1 per cent of GDP) in 2015-16 as compared to US$ 26.9 billion in 2014-15. CAD narrowed down to US$ 0.3 billion (0.1 per cent of GDP) in 2016-17 (April-June) from US$ 6.1 billion (1.2 per cent of GDP) in corresponding period of the previous year.

Foreign Exchange Reserves

In the current fiscal 2016-17, foreign exchange reserves culminated to US$ 372.0 billion at end September 2016 which reduced to US$ 366.2 billion at end October 2016. Foreign exchange reserves stood at US$ 365.3 billion on 25th November 2016, showing an increase of US$ 5.1 billion over the level of US$ 360.2 billion at end-March 2016. Countrys foreign exchange reserves are at a comfortable position to buffer any external shocks. In the current fiscal 2016-17 (April-November), the average monthly exchange rate of rupee (RBIs reference rate) was in the range of Rs. 66 - 67 per US dollar (Rs. 66.47 per US dollar in April 2016 and Rs. 67.80 per US dollar in November 2016).

External Debt

Indias external debt stock stood at US$ 479.7 billion at end-June 2016, witnessing a decline of US$ 5.4 billion (1.1 per cent) over the level at end-March 2016. The external debt-GDP ratio was 23.4 per cent at end-June 2016, as against 23.7 per cent at end March 2016. The share of long-term external debt in total external debt increased marginally to 82.9 per cent at end-June 2016 from 82.8 per cent at end-March 2016. All external debt indicators show that Indias external debt has remained within manageable limits. India continues to be among the less vulnerable nations in terms of its key debt indicators.

Agriculture and Food Management

Agriculture and allied sectors registered a growth of 2.5 per cent during the first half of 2016-17 as compared to 2.3 percent during the same period in 2015-16. As per the First Advance estimates (1st AE) 2016-17 released by Department of Economics and Statistics, production of Kharif food grains is estimated to increase to 135.03 million tonnes as compared to 124.01 million tonnes in 2015-16 (AE).

The report of the Committee on Incentivising Pulses Production through Minimum Support Price (MSP) and Related Policies set up under the Chairmanship of Dr. Arvind Subramanian, Chief Economic Adviser, Government of India was submitted on 16th September, 2016.The Committee has recommended, among other things, an increase in the minimum support price (MSP) for all pulses, elimination of the export ban and stock limits on pulses, and intensified procurement.

Industry

The data on Index of Industrial Production (IIP) released by the Central Statistical Office (CSO) shows that the production of industrial sector broadly comprising mining, manufacturing and electricity sectors has fallen by 0.3 per cent during April-October (2016-17) as compared to 4.8 per cent growth during April-October (2015-16). The Government has undertaken a number of policy measures including enhanced public investment, kick starting stalled projects, improving governance through systemic changes like open auction for natural resources like coal and spectrum, improving business environment through programmes like Make in India, Ease of Doing Business, Start-up India. The Government has also liberalized and simplified the foreign direct investment (FDI) policy in the sectors like defence, railway infrastructure, construction and pharmaceuticals etc.

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Yes Bank places Rs 330 crore of Green Infrastructure Bonds
Dec 30,2016

Yes Bank has raised Rs 330 crore of Green Infrastructure Bonds through private placement on 29 December 2016. The Bonds carry a coupon of 7.62% p.a and mature on 29 December 2023. The Bonds will be listed on BSE.

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Board of Anjani Synthetics to consider change in registered office
Dec 30,2016

Anjani Synthetics announced that the meeting of the Board of Directors of the Company will be held on 02 January 2017, inter alia in order the transact the following business:To Change the Address of the Registered Office of the Company from 4, NEW CLOTH MARKET, O/S. RAIPUR GATE, AHMEDABAD- 380002, GUJARAT, INDIA TO 221 MALIYA, NEW CLOTH MARKET, O/S. RAIPUR GATE, AHMEDABAD- 380002, GUJARAT, INDIA.

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Nihar Info Global announces appointment of company secretary & CFO
Dec 30,2016

Nihar Info Global has appointed Bhavika Sharma as Company Secretary and Compliance Officer and Ravulakollu Lavanya as Chief Financial Officer.

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Board of Tree House Education & Accessories approves change in directorate
Dec 30,2016

Tree House Education & Accessories announced that the Board of Directors of the company at its meeting held on 30 December 2016 has transacted the following -

Appointed Suraj Manghnani as Additional Director with effect from 30 December 2016.

Taken note of resignation of Chanakya Dhanda and Ram Kumar Gupta as Independent Directors of the company with effect from 15 December 2016 and 16 December 2016 respectively.

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8K Miles Software Services to consider December quarter results
Dec 30,2016

8K Miles Software Services announced that the meeting of the Board of Directors of the Company is scheduled to be held on 09 January 2017 inter-alia, to consider, approve and take on record the unaudited financial results for the quarter ended 31 December 2016.

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Housing Development & Infrastructure leads gainers in A group
Dec 30,2016

Housing Development & Infrastructure (HDIL) jumped 7.7% to Rs 60.15 at 13:11 IST. The stock topped the gainers in the BSEs A group. On the BSE, 17.07 lakh shares were traded on the counter so far as against the average daily volumes of 10.59 lakh shares in the past two weeks.

Kajaria Ceramics surged 7.03% at Rs 470.95. The stock was second biggest gainer in A group. On the BSE, 34,000 shares were traded on the counter so far as against the average daily volumes of 8,196 shares in the past two weeks.

Shree Cement advanced 6.48% to Rs 14,700.05. The stock was third biggest gainer in A group. On the BSE, 655 shares were traded on the counter so far as against the average daily volumes of 8,177 shares in the past two weeks.

Shree Renuka Sugars gained 5.73% at Rs 13.84. The stock was fourth biggest gainer in A group. On the BSE, 8.84 lakh shares were traded on the counter so far as against the average daily volumes of 3.18 lakh shares in the past two weeks.

Arvind rose 5.04% to Rs 351.10. The stock was fifth biggest gainer in A group. On the BSE, 2.74 lakh shares were traded on the counter so far as against the average daily volumes of 1.17 lakh shares in the past two weeks.

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Board of Rashtriya Chemicals & Fertilizers issues Commercial Paoer aggregating Rs 175 cr
Dec 30,2016

Rashtriya Chemicals & Fertilizers announced that in terms of the guidelines issued by the Reserve Bank of India, the Company has issued Commercial Paper for Rs.175 crore on 30 December 2016, in favour of State Bank of India, having maturity date as 30 March 2017.

Further, the Commercial Paper issued on 19 October 2016, for Rs.150 crore, has been redeemed on 30 December 2016.

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Rashtriya Chemicals & Fertilizers issues Commercial Paper aggregating Rs 175 cr
Dec 30,2016

Rashtriya Chemicals & Fertilizers announced that in terms of the guidelines issued by the Reserve Bank of India, the Company has issued Commercial Paper for Rs.175 crore on 30 December 2016, in favour of State Bank of India, having maturity date as 30 March 2017.

Further, the Commercial Paper issued on 19 October 2016, for Rs.150 crore, has been redeemed on 30 December 2016.

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Board of Kaushalya Infrastructure Development Corpn appoints director
Dec 30,2016

Kaushalya Infrastructure Development Corpn announced that a Board Meeting of Company held on 30 December 2016, have considered and approved the following businesses:

- Approved appointment of Asoke Das as a Non- Executive Additional Independent Director w.e.f. 30 December 2016.

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Cera Sanitaryware issues Commercial Paper aggregating Rs 30 cr
Dec 30,2016

Cera Sanitaryware has issued Commercial Paper of Rs. 30 crore value dated 30 December 2016 having maturity on 30 March 2017.

The said commercial paper is issued for the working capital requirements of the Company.

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Volumes jump at Aditya Birla Nuvo counter
Dec 30,2016

Aditya Birla Nuvo clocked volume of 59.27 lakh shares by 12:55 IST on BSE, a 535.28-times surge over two-week average daily volume of 11,000 shares. The stock rose 2.75% to Rs 1,276.75.

Gujarat Pipavav Port notched up volume of 20.39 lakh shares, a 72.38-fold surge over two-week average daily volume of 28,000 shares. The stock rose 1.59% to Rs 130.75.

Havells India saw volume of 24.03 lakh shares, a 34.52-fold surge over two-week average daily volume of 70,000 shares. The stock rose 3.25% to Rs 338.65.

Lux Industries clocked volume of 90,000 shares, a 11.81-fold surge over two-week average daily volume of 8,000 shares. The stock rose 1.66% to Rs 745.

Engineers India saw volume of 11.26 lakh shares, a 2.88-fold rise over two-week average daily volume of 3.91 lakh shares. The stock fell 9.47% to Rs 151.45.

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Board of Asian Oilfield Services approves preferential alloment of warrants
Dec 30,2016

Asian Oilfield Services announced that the Board of Directors of the company at its meeting held on 30 December 2016 has approved the allotment of 50 lakh warrants convertible into equity shares of the company at an issue price of Rs 80 per warrant including a premium of Rs 70 per warrant on preferential basis to promoter entity - Oilmax Energy.

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