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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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AXISCADES Engineering Technologies complete acquisition of AXISCADES Aerospace and Technologies
Dec 09,2016

AXISCADES Engineering Technologies has completed the acquisition of AXISCADES Aerospace and Technologies (ACATL), a Technology Company focusing on Aerospace & Defense and Homeland Security areas. The acquisition was carried out through a Scheme of Amalgamation of the holding company of ACATL, i.e. Indian Aviation Training Institute (IAT), with ACETL.

Shareholders of IAT (holding company of ACATL) will receive ten shares in ACETL for every 45 shares held by them. ACATL is now a 100% subsidiary of ACETL. ACETL will issue 10.57 million new shares, therebyincreasing its shares outstanding to 37.76 million. The appointed date of Scheme of Amalgamation is 1st April 2016 and the Effective Date of the Scheme is 5th December 2016.

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Jindal Steel & Power drops after posting poor Q2 results
Dec 09,2016

The result was announced after market hours yesterday, 8 December 2016.

Meanwhile, the BSE Sensex was up 17.31 points, or 0.06%, to 26,711.94.

On the BSE, 3.4 lakh shares were traded in the counter so far, compared with average daily volume of 13.26 lakh shares in the past one quarter. The stock had hit a high of Rs 74.70 and a low of Rs 71.25 so far during the day. The stock had hit a 52-week high of Rs 98.10 on 31 December 2015. The stock had hit a 52-week low of Rs 48.20 on 12 February 2016.

The stock had outperformed the market over the past 30 days till 8 December 2016, rising 1.25% compared with 3.25% fall in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 15.54% as against Sensexs 8.09% decline.

The mid-cap company has equity capital of Rs 91.49 crore. Face value per share is Re 1.

Jindal Steel & Powers total income fell 1.5% to Rs 4666.22 crore in Q2 September 2016 over Q2 September 2015. Earnings before interest, taxes, depreciation and amortization (EBITDA) margin contracted to 18% in Q2 September 2016 compared with 21% in Q2 September 2015, on the back of lower realizations. The companys consolidated net debt as on 30 September 2016 was maintained at similar levels as of previous quarter.

The company said that overall outlook is positive for the company with improving margins accompanied by ramp up in volumes. The companys global ventures are expected to perform well in the coming quarters.

JSPL is one of Indias major steel producers with a significant presence in sectors like mining, power generation and infrastructure.

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Sail loses shine after reporting weak Q2 results
Dec 09,2016

The result was announced after market hours yesterday, 8 December 2016.

Meanwhile, the BSE Sensex was up 59.45 points, or 0.22%, to 26,753.73.

On the BSE, 40,863 shares were traded in the counter so far, compared with an average volume of 8.22 lakh shares in the past one quarter. The stock had hit a high of Rs 53.45 and a low of Rs 53 so far during the day.

Steel Authority of Indias (Sail) total income rose 20.68% to Rs 12645.76 crore in Q2 September 2016 over Q2 September 2015.

Sail is a PSU steel manufacturing company. The Government of India held 75% stake in Sail (as per the shareholding pattern as on 30 September 2016).

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MSME ministry suggest withdrawal limit to 2 lakh for micro units: Haribhai Parathibhai Chaudhary, MoS for MSME
Dec 09,2016

Ministry for Micro Small and Medium Enterprises (MSME) will suggest for increasing the withdrawal limit to 2 lakh per week for MSME sector said, Mr Haribhai Parathibhai Chaudhary, Minister of State for MSME, GoI at an ASSOCHAM event.

n++We need to be cashless economy to be the best in the world. The Demonetisation will help to control the fiscal deficitn++, said Mr. Chaudhary.

He further said that repayment of loans by farmers is 92%, much higher than big value business loans. n++Encourage MSMEs to initiate skill development for rail and defence manufacturingn++, said Mr. Chaudhary.

He further said that the government is witnessing a new trend with many MSMEs taking the e-commerce route to establish themselves in the Indian market and we are using internet not only as a marketing tool but also as a tool to enable them to understand if a unique product has high demand in the market. Indian MSMEs are looking at e-commerce as an innovative tool to build fresh business models.

Mr. Chaudhary also said by adopting e-commerce MSMEs shall achieve significant advantages such as increased revenues and margins, improved market reach, access to new markets, cost savings in marketing and communication spend, customer acquisition and improved customer experience.

Addressing the event, Mr S.N. Tripathi, Additional Secretary & Development, Commissioner (MSME), Ministry of MSME, Government of India said we need to move fast towards digitising India.

n++Inadequacy of bank branches is one primary reason why cash dominates small businesses. Many rural branches are open for just a day or two in a week. People consider bank postings in rural India as a punishment. The smaller the enterprise, the bigger the problemn++, according to a study titled, MSMEs in India: The Paradigm shift, jointly conducted by The Associated Chambers of Commerce and Industry of India (ASSOCHAM) and Resurgent India.

The study highlights that the government must realise that the small scale sector will certainly pick it up (move to e-payments). But it is a gradual process. Also, it is important to acknowledge that money generated in business is not irregular. Certain issues cannot be pushed so much that the system chokes and the outcome is distorted.

Irrespective of the bright side of upcoming GST, SMEs must be mindful of its accompanying challenges such as increase in complicate costs and alignment of IT systems with new processes. Thus, for the SMEs, GST throws a mix bag of opportunities and challenges to explore, adds the joint study.

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DST-Intel Collaborative Research for Real-Time River Water and Air Quality Monitoring
Dec 09,2016

Recognizing the importance of developing the online River Water and Air Quality Monitoring (WAQM) systems, Department of Science and Technology (DST), Government of India and Intel are collaborating to jointly initiate n++DST-Intel Collaborative Research for Real-Time River Water and Air Quality Monitoringn++ soliciting proposals from Academic/Research Institutions and providing grant-in-aid support to the selected project(s). Speaking on the occasion of Launch of the collaboration, Minister of State for Science & Technology and Earth Sciences Shri. Y.S.Chowdary said that it is joint programme of Public-Private Partnership (PPP) mode.

The Minister said that this programme is very critical for the restoration, conservation and preservation of the environment. Under the leadership of Prime Minister Narendra Modi, top priority is being given to R & D in science and technology to come out with appropriate solutions to challenges facing the nation.

The Minister added that n++at the core of any initiative, we see the role of Science and Technology everywhere....n++. Elaborating on the DST-Intel collaboration, Shri Chowdary added that n++Global experience will come in handy to tackle local challenges.n++

The aim of this initiative is to develop key technologies for sensing, communication and analysis of large-scale data collected from autonomous networks of perpetual/long-lived sensor nodes, followed by integration and deployment for water and air quality monitoring in real-time. The program will be administered by the binational Indo-U.S. Science and Technology Forum (IUSSTF). River systems have been the birthplace of civilizations all over the world. They are woven into the social and economic fabric of society and penetrate deep into the psyche of the people living around them. Nowhere is this more evident than in India where the Ganga, Indus, Narmada and other rivers possess the cultural identity transmitted down the ages through sacred literature, the Puranas and the Vedas, as well as through popular myths and legends.

The Ganga is the largest and the most important river of India, with its watershed covering 10 Indian states, namely Uttarakhand, Uttar Pradesh, Bihar, Jharkhand, West Bengal, Himachal Pradesh, Rajasthan, Haryana, Madhya Pradesh and Delhi. The river Ganga (commonly called as Bhagirathi in the stretch Gangotri to Devprayag and Hubli in the stretch Farakka to Ganga Sagar) occupies a unique position in the ethos of people of India. Emotional attachment to the river and the centers of pilgrimage on its banks runs deep and long in the Indian History.

Discharge of untreated sewage from urban centres is a major cause of water quality degradation in the river. The total wastewater generation from 222 towns in Ganga basin is reportedly 8250 MLD, out of which 2538 MLD is directly discharged into the River, 4491 MLD is disposed into its tributaries and 1220 MLD is disposed on land or low lying areas. River Yamuna is another one of the most grossly polluted rivers in the country.

Air pollution is another emerging public health concern as there is increasing amount of evidence that the quality of air significantly affects our health due to the presence of various toxic pollutants. Linking air pollution from source to adverse human health effects is a complicated phenomenon that requires a multidisciplinary approach for better understanding. Further, air quality networks need to be developed that can depict and forecast pollution levels for public with health advisories and pollution emergencies measure. It is well known that increasing levels of air pollution are linked with more illness, higher use of health services, and premature death among the exposed population groups. Further, both Household Air Pollution (HAP) and Outdoor Air Pollution (OAP) have reported to have largely detrimental effects on the quality of life.

The recent report of Global Burden of Disease (GBD) has ranked air pollution among the top ten killers in the world, and as the sixth largest killer in South Asia. In a study by UNEP-WHO, it was estimated that about 6.3 million deaths worldwide are caused by air pollution, out of which 3.3 million are due to OAP and 3.5 million due to HAP. There is increasing amount of evidence that the quality of air significantly affects our health due to the presence of various toxic pollutants and therefore air pollution is emerging as a major public health issue. GBD also estimated that air pollution causes 6,20,000 deaths everyyear making it the 5th leading cause of mortality in India.

One of the main causes of pollution in Delhi-NCR is high levels of Particulate Matter 10 (PM 10) and PM 2.5 particles smaller than 2.5 micrometers in diameter that lead to hazardous smog and causes asthma and respiratory diseases. Air quality in Delhi and National Capital Region (NCR) worsened recently to alarming levels recording PM 2.5 reading of 500 on the air quality monitoring portals, putting the pollution level in the n++severen++ category.

In order to eliminate problems associated with manual water quality monitoring, DST and Intel have come together for development of state-of-art solutions for real-time river water quality monitoring. The goal of this research would be to enable the development and eventual deployment of low-cost, low-power, autonomous wireless sensor networks to provide a fine-grained view of several critical water and air quality metrics over large geographic areas (cities, rivers, watersheds etc.). These online sensor networks for river water and air quality monitoring will provide the pre-remedial quality status and would enable to assess efficacy of post remedial interventions based on real time reliable factual data. This real time data will significantly further strengthen and complement the Missions of National priority like Namami Gange Programme and others by serving as critical data feeders for pre and post treatment analysis.

Such networks may also eventually replace the current paradigm of environmental quality management via localized stations. The development of such an Internet of Things (IoT)-based solution will require innovations in sensor technology for miniaturized platforms for continuous, always-connected multi-modal sensing, ultra-low power radios for efficient communication and energy harvesting technologies to enable very long or perpetual operation of sensor nodes. These key blocks will need to be woven together by a data analytics framework that spans edge devices, gateways and cloud-based analytics, to enable inferencing and sense-making in a low-latency manner.

Speaking on the occasion, Jitendra Chaddah, Senior Director, Operations & Strategy, Intel India, said, n++Intel has been engaged in supporting innovation and technology research, aimed at creating solutions to help address different community challenges and improve quality of life. We are very excited to collaborate with Department of Science & Technology in this advanced research program that would bring prominent academic and research institutions together to work on technology breakthroughs that can positively impact human lives.n++

The development of such an end-to-end solution comprising of several individual research elements can also potentially impact environmental quality monitoring systems in diverse contexts such as urban, domestic and industrial settings.

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Board of Millitoons Entertainment allots equity shares and warrants
Dec 09,2016

Millitoons Entertainment announced that the Board of Directors of the Company at its meeting held on 08 December 2016 has allotted 35 lakh warrants and 5 lakh equity shares to Viniato Advisors (non-promoter group) at an issue prices of Rs 63.32 (including premium of Rs 62.32).

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Sail, Jindal Steel may drop after reporting weak Q2 results
Dec 09,2016

Steel Authority of India (Sail) reported net loss of Rs 731.58 crore in Q2 September 2016 compared with net loss of Rs 1108.04 crore in Q2 September 2015. Total income rose 20.68% to Rs 12645.76 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 8 December 2016.

Jindal Steel & Power reported consolidated net loss of Rs 745.98 crore in Q2 September 2016 compared with net loss of Rs 909.53 crore in Q2 September 2015. Total income fell 1.5% to Rs 4666.22 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 8 December 2016.

Mahindra & Mahindra (M&M) announced that the company will be undertaking scheduled maintenance shutdown at some of its automotive and tractor plants in December, 2016. It will also observe on need basis few days as No Production Days at some of its automotive and/or tractor plants including Chakan plant of its wholly owned subsidiary Mahindra Vehicle Manufacturers as part of its efforts to optimize inventories during December year-end.

The management does not envisage any adverse impact on the availability of products in the market due to adequacy of stocks to serve the market requirements. The announcement was made after market hours yesterday, 8 December 2016.

Power Grid Corporation of India announced that a meeting of committee of directors for bonds is planned to be held on 14 December 2016 to consider issue of secured, redeemable, non-convertible, non-cumulative, taxable bonds (Debenture) under private placement. The announcement was made after market hours yesterday, 8 December 2016.

NLC Indias net profit fell 13.62% to Rs 300.42 crore on 15.79% rise in total income to Rs 2148.28 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 8 December 2016.

NHPC announced that power purchase agreement (PPA) in respect of up-coming projects Tawang-I and Tawang-II HE Project has been signed on 6 December 2016 with Assam Power Distribution Company. Bulk Power Supply Agreement (BPSA) in respect of Loktak Power Station, Manipur has also been extended on 6 December 2016 with Assam Power Distribution Company.

Further, the company has informed that both PPA and BPSA signed for a period of 35 years from the date of commercial operation (COD) of respective projects. The announcement was made after market hours yesterday, 8 December 2016.

Finolex Industries net profit rose 27.61% to Rs 51.31 crore on 2.41% decline in total income to Rs 532.33 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 8 December 2016.

Sterling Biotech announced that the Bank of New York Mellon, in its capacity as depository to the global depositary receipts (GDRs) issued by the company in the year 2003, have issued termination notice to the holders of GDRs intimating that they will terminate the deposit agreement dated 1 October 2003, and as a result the existing GDR facility will be terminated 6 March 2017. The announcement was made after market hours yesterday, 8 December 2016.

Max Ventures and Industries announced that Max I., a wholly owned subsidiary of Max Ventures and Industries acquired 2.69 lakh equity shares of FSN E-Commerce Ventures (FSN) on 8 December 2016, which represents its 1.99% equity capital. FSN is engaged in the business of selling cosmetic products, personal and home accessories to consumers in India through e-commerce platform-Nykaa.com. The announcement was made after market hours yesterday, 8 December 2016.

IL&FS Engineering and Construction Company announced that it emerged as lowest bidder for rural electrification works Worth Rs 225 crore in Jharkhand. The announcement was made after market hours yesterday, 8 December 2016.

Time Technoplast announced that the meeting of the board of directors of the company will be held on 13 December 2016 to consider alternate means of fund raising including but not limiting to preferential issue of securities. The announcement was made after market hours yesterday, 8 December 2016.

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IL&FS Engineering & Construction Co emerges Lowest Bidder for RE works
Dec 09,2016

IL&FS Engineering & Construction Co has emerged as the Lowest Bidder for Rural Electrification (RE) Works of Jharkhand Bijli Vitran Nigam (JBVNL), Ranchi worth Rs. 225 crore in package of Sahibganjcomprising Sahibganj and Pakur districts in Jharkhand state under Deen Dayal Upadhyay Gram Jyoti Yojana (DDUGJY).

Deen Dayal Upadhyay Gram Jyoti Yojana (DDUGJY)-RE contracts are being funded by Rural Electrification Corporation (REC).

The completion schedule of the works is 24 months.

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Board of Surana Industries to consider Q2 and HY results
Dec 09,2016

Surana Industries announced that a meeting of the Board of Directors of the Company is scheduled to be held on 14 December 2016, inter alia, to consider and approve the Unaudited financial results for the 2nd Quarter and Six Months ended 30 September 2016.

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Mahindra & Mahindra temporarily shuts down plants for optimising inventories
Dec 09,2016

Mahindra & Mahindra announced that the Company will be undertaking scheduled maintenance shutdown at some of its Automotive and Tractor plants in December, 2016. It will also observe on need basis few days as No Production Days at some of its Automotive and / or Tractor plants including Chakan plant of its wholly owned subsidiary Mahindra Vehicle Manufacturers as part of its efforts to optimize inventories during December year-end.

The Management does not envisage any adverse impact on the availability of products in the market due to adequacy of stocks to serve the market requirements.

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Max Ventures and Industries acquires shares of FSN E-Commerce Ventures (Nykaa.com)
Dec 09,2016

Max Ventures and Industries announced that Max I. (a wholly owned subsidiary of Max Ventures and Industries ), has acquired 2,69,955 (Two Lacs Sixty Nine Thousand Nine Hundred Fifty Five) equity shares of Rs.10/- each of FSN E-Commerce Ventures (FSN) on 08 December 2016, which represents its 1.99% equity capital.

FSN is engaged in the business of selling cosmetic products, personal and home accessories to consumers in India through e-commerce platform n++Nykaa.comn++.

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Shares of Sheela Foam get listed
Dec 09,2016

The equity shares of Sheela Foam (Scrip Code: 540203) are listed effective 09 December 2016 and admitted to dealings on the Exchange in the list of B Group Securities.

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Board of Sita Shree Food Products to consider September quarter results
Dec 08,2016

Sita Shree Food Products announced that the Board of Directors of the company will meet on 14 December 2016 to consider and approve un-audited financial results for the quarter ended 30 September 2016.

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Jammu and Kashmir Bank to announce Q2 results
Dec 08,2016

Jammu and Kashmir Bank announced that the Board of the Bank will meet on 15 December 2016; inter alia, to consider the Reviewed Financial Results of the Bank for the Quarter & Half year ended 30 September 2016 (Q2).

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PNC Infratech director resigns
Dec 08,2016

PNC Infratech announced Dharam Veer Sharma has resigned from the directorship held in the Company with effect from closing of business hours of 08 December 2016.

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