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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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Lancer Container Lines CFO resigns
Nov 24,2016

Lancer Container Lines has announced that Deepak Sonar the Chief Financial Officer of the Company has resigned from the services with effect from 23rd November 2016.

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Cabinet approves third Protocol to Convention between India & New Zealand
Nov 24,2016

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the ratification and entry into force of the third Protocol to the Convention between India and New Zealand for the avoidance of double taxation and the prevention of fiscal evasion with respect to (w.r.t) taxes on income (Convention). The Protocol was signed on 26th October, 2016.

The Protocol will stimulate the flow of exchange of information between India and New Zealand for tax purposes which will help curb tax evasion and tax avoidance. It will also enable assistance in collection of tax revenue claims between both countries.

Article 26 on Exchange of Information of the existing Convention has been replaced with a new Article in the Protocol which is in line with the international standard for exchange of information.

A new Article on Assistance on Collection of Taxes has been added in the Protocol.

The Protocol shall enter into force on the date of notification of completion of the procedures required by the respective laws of the two countries for entry into force of the Protocol.

Background:

The Central Government is authorized under section 90 of the Income Tax Act, 1961 to enter into an Agreement with a foreign country or specified territory for exchange of information and recovery of income tax for the prevention of evasion or avoidance of income-tax chargeable under the Income-tax Act, 1961. The Convention came into force on 3rd December, 1986. The Convention was amended in 1997 through a First Protocol and in 2000 through a Second Protocol. Subsequently, India proposed to further amend the Convention through a Third Protocol to update the Exchange of Information Article as per the international standard and to insert an Article on Assistance in the Collection of taxes. Accordingly, negotiations were entered into with New Zealand and agreement was reached on both the Articles of the Third Protocol.

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TCS gains on partnering with ASML
Nov 24,2016

The announcement was made during trading hours today, 24 November 2016.

Meanwhile, the BSE Sensex was down 94.05 points, or 0.36%, to 25,957.76.

On BSE, so far 18,000 shares were traded in the counter, compared with average daily volume of 1.48 lakh shares in the past one quarter. The stock hit a high of Rs 2,192 and a low of Rs 2,140 so far during the day. The stock hit a 52-week high of Rs 2,740 on 12 August 2016. The stock hit a 52-week low of Rs 2,054.70 on 15 November 2016. The stock had underperformed the market over the past 30 days till 23 November 2016, falling 10.09% compared with the 7.26% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 15.43% as against Sensexs 6.41% decline.

The large-cap company has equity capital of Rs 197.04 crore. Face value per share is Re 1.

TCS announced that it will implement a unified global process blueprint for ASML, aiming to simplify business processes, improve operational efficiency and elevate stakeholder experience. Recently, TCS set up an exclusive centre for ASML in its Hyderabad Campus.

ASML is one of the worlds leading manufacturers of chip-making equipment. It is a multinational company with over 70 locations in 16 countries, headquartered n++n Veldhoven, the Netherlands.

TCS has been ASMLs trusted partner, providing a range of services including IT application portfolio management, cyber security operations and support for product lifecycle management platforms. TCS has been a key transformation partner to ASML, contributing to its growth vision and future-ready IT landscape.

On a consolidated basis, TCS reported a 4.51% growth in its net profit at Rs 6603 crore on 0.07% decline in net sales to Rs 29284 crore in Q2 September 2016 over Q1 June 2016.

TCS is an IT services, consulting and business solutions organization. The company offers a consulting-led, integrated portfolio of IT, BPS, infrastructure, engineering and assurance services.

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NTPC to continue Payment Security Mechanism
Nov 24,2016

The Ministry of Power vide its letter dated 22nd November 2016 has approved NTPC for continuation of Payment Security Mechanism beyond 31st October 2016.

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Cabinet approves MoU among New Energy and Industrial Technology Development Organization, Japan and Ministries of Finance, Health & Family Welfare and
Nov 24,2016

The Union Cabinet, chaired by the Prime Minister, Shri Narendra Modi has approved the signing of Memorandum of Understanding (MoU) among New Energy and Industrial Technology Development Organization (NEDO), Japan and Ministries of Finance (Department of Economic Affairs), Health & Family Welfare and All India Institute of Medical Sciences (AIIMS) concerning the Demonstration Project for ICT based Green Hospital at AIIMS in Delhi.

The project shall encompass the following work:

a. Surveys required for engineering and design, construction and operation of the EQUIPMENT,

b. Basic planning and engineering and design of the EQUIPMENT,

c. Manufacture and transportation of the EQUIPMENT,

d. Civil work, construction and installation

e. Commissioning of the EQUIPMENT,

f. Demonstration of the EQUIPMENT, and

g. Dissemination of the TECHNOLOGY in India.

The MoU shall come into effect on the date of its signature and shall remain effective until March 31, 2020.

The objectives of the project are to contribute to the efficient use of energy and the protection of the environment in India by installing the energy efficient and IT related equipment in AIIMS Delhi and demonstrating the energy management system and IT system. Efforts will be made to widely disseminate the technology in India through demonstration of the equipment.

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Aditya Birla Nuvo Linen Yarn business unit back to normalcy
Nov 24,2016

Aditya Birla Nuvo has announced that its Linen Yarn business unit at Jaya Shree Textiles Division located at Rishra, Hooghly, West Bengal is back to normal working position after the workmen illegal strike from 19th November 2016 came to an end.

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Facor Alloys enters into Conversion Agreement
Nov 24,2016

Facor Alloys has entered into Conversion Agreement with Tata Steel for conversion of Chrome Ore & Met Coke into Ferrous Chrome and the arrangement has commenced w.e.f. 15th November 2016.

The agreement will remain in force until 31st March 2020 with 50% of the smelting capacity of the plant is dedicated to TSL conversion.

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Maithan Alloys jumps after large bulk deal
Nov 24,2016

Meanwhile, the S&P BSE Sensex was down 99.10 points, or 0.38% to 25,952.71

Bulk deal boosted volume on the scrip. On BSE, so far 78.85 lakh shares were traded in the counter as against an average daily volume of 14,240 shares in the past one quarter. The stock hit a high of Rs 252.80 and a low of Rs 201 so far during the day. The stock had hit a 52-week high of Rs 434.50 on 8 August 2016. The stock hit 52-week low of Rs 84 on 12 February 2016. The stock had underperformed the market over the past 30 days till 23 November 2016, falling 20.39% compared with the 7.26% decline in the Sensex. The scrip also underperformed the market in past one quarter, falling 26.77% as against Sensexs 6.41% decline.

The small-cap company has equity capital is Rs 29.11 crore. Face value per share is Rs 10.

Maithan Alloys net profit fell 32.31% to Rs 8.80 crore on 5.46% growth in net sales to Rs 289.77 crore in Q2 September 2016 over Q2 September 2015.

Maithan Alloys operates in the niche value-added manganese alloy segment.

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Minda Industries grants Employee Stock Options
Nov 24,2016

Minda Industries on 23rd November 2016 has granted 8,88,000 stock options to the eligible employees of Minda Industries and its subsidiaries at an exercise price of Rs. 180 per option exercisable within one year from the date of vesting.

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Natco Pharma gains after USFDA approval for Budesonide generic
Nov 24,2016

Meanwhile, the BSE Sensex was down 84.16 points, or 0.32%, to 25,967.65.

On BSE, so far 15,000 shares were traded in the counter, compared with average daily volume of 34,131 shares in the past one quarter. The stock hit a high of Rs 600.35 and a low of Rs 585 so far during the day. The stock hit a record high of Rs 703.95 on 25 August 2016. The stock hit a 52-week low of Rs 390 on 29 March 2016. The stock had outperformed the market over the past 30 days till 23 November 2016, falling 1.59% compared with the 7.26% decline in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 13.75% as against Sensexs 6.41% decline.

The large-cap company has equity capital of Rs 34.86 crore. Face value per share is Rs 2.

Natco Pharma said it received final approval of abbreviated new drug application (ANDA) from the US Food and Drug Administration (USFDA) for generic version of Budesonide capsules (Enteric Coated), 3 milligrams (mg). Natco and its marketing partner Alvogen plan to launch this product in the US market immediately.

Perrigo Pharma International DAC sells Budesonide capsules under their brand Entocort in the US market. Entocort EC Capsules, 3 mg, and its generic versions had US sales of approximately $370 million for twelve months ending December 2015, according to IMS Health.

On a consolidated basis, net profit of Natco Pharma rose 127.21% to Rs 66.55 crore on 75.56% rise in net sales to Rs 415.21 crore in Q2 September 2016 over Q2 September 2015.

Natco Pharma manufactures generic dosage forms, bulk actives and intermediates for the Indian and international markets.

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Natco Pharma gets nod from USFDA
Nov 24,2016

Natco Pharma has been given a final approval of Abbreviated New Drug Application from the U.S. Food and Drug Administeration For generic Budesonide Capsules, 3 mg, for USA market

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Advance Syntex to hold EGM
Nov 24,2016

Advance Syntex will hold the Extra-Ordinary General Meeting on 16th December 2016, to consider increase in the Authorised Share Capital of the Company and consequent alteration in the Memorandum of Association of the Company, and approval for issue of Bonus Shares.

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HealthCare Global Enterprises enters joint venture agreement
Nov 24,2016

HealthCare Global Enterprises on 22nd November 2016 has entered into a joint venture agreement with its subsidiary, Regency Oncology Healthcare Pvt. Ltd to set out the relationship between them, their rights, obligations as shareholders in HCG Regency Oncology Healthcare Pvt. Ltd and other matters in connection therewith.

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Reliance Industries allots equity shares
Nov 24,2016

Reliance Industries on 22nd November 2016 has allotted 2,17,541 equity shares of Rs 10 each pursuant to the Employee Stock Option Scheme.

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Bodal Chemicals gains after securing High Court of Gujarat nod for Scheme of Amalgamation
Nov 24,2016

The announcement was made after market hours yesterday, 23 November 2016.

Meanwhile, the S&P BSE Sensex was down 99.66 points, or 0.38%, to 25,952.15

On BSE, so far 2.06 lakh shares were traded in the counter, compared with average daily volume of 3.27 lakh shares in the past one quarter. The stock hit a high of Rs 114.70 and a low of Rs 107.95 so far during the day. The stock hit a record high of Rs 155 on 6 October 2016. The stock hit a 52-week low of Rs 37.40 on 24 November 2015. The stock had underperformed the market over the past 30 days till 23 November 2016, falling 22.29% compared with the 7.26% decline in the Sensex. The scrip, however, outperformed the market in past one quarter, falling 5.68% as against Sensexs 6.41% decline.

The small-cap company has an equity capital of Rs 21.82 crore. Face value per share is Rs 2.

Bodal Chemicals said that High Court of Gujarat vide its Oral Order dated 11 November 2016, which was received by the company on 23 November 2016, has approved the Scheme of Amalgamation of Bodal Agrotech with itself. The Appointed date of Scheme of Amalgamation is 1 April 2016. Further, the company is awaiting the certified copy of the Order of Court of Gujarat for further action, Bodal Chemicals said.

Bodal Chemicals net profit rose 45.58% to Rs 34.05 crore on 28.5% rise in total income to Rs 332.60 crore in Q2 September 2016 over Q2 September 2015.

Bodal Chemicals is engaged in manufacturing of acid, direct and reactive dyestuffs and dye intermediates for textile, leather, plastics and papermaking applications.

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