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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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RIL rallies 9.7% in nine straight sessions
Jul 13,2017

Meanwhile, the S&P BSE Sensex was up 214.51 points or 0.67% at 32,019.33.

On the BSE, 1.75 lakh shares were traded on the counter so far as against the average daily volumes of 4.02 lakh shares in the past one quarter. The stock had hit a high of Rs 1,522.05 and a low of Rs 1,506.70 so far during the day. The stock had hit a 52-week high of Rs 1,524.50 yesterday, 12 July 2017 and a 52-week low of Rs 932 on 9 November 2016.

The stock had outperformed the market over the past one month till 12 July 2017, advancing 14.49% compared with the Sensexs 2.28% rise. The stock had also outperformed the market over the past one quarter, gaining 11.55% as against the Sensexs 7.29% rise. The scrip had also outperformed the market over the past one year, surging 50.73% as against the Sensexs 14.37% rise.

The large-cap company has equity capital of Rs 3251.74 crore. Face value per share is Rs 10.

Shares of Reliance Industries (RIL) have risen 9.75% in nine trading sessions to its current market price, from its close of Rs 1,380.25 on 30 June 2017.

Meanwhile, shares of RIL turned ex-dividend today, 13 July 2017, for dividend of Rs 11 per share for the year ended March 2017. Before turning ex-dividend, the stock offered a dividend yield of 0.73% based on the closing price of Rs 1,510.50 on BSE yesterday, 12 July 2017.

RILs telecom subsidiary Reliance Jio Infocomm (Jio) announced on 11 July 2017 that Jio Prime Members can enjoy unlimited services for 3 months with Rs 399 plan. The earlier launched Rs 309 plan will provide 2 months of unlimited Jio services.

On a consolidated basis, net profit of RIL rose 11.5% to Rs 8053 crore on 42.1% rise in net sales to Rs 84823 crore in Q4 March 2017 over Q4 March 2016.

RIL is Indias largest private sector company. RILs activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and telecommunications.

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Mukand on a gaining spree
Jul 13,2017

Meanwhile, the S&P BSE Sensex was up 234.65 points, or 0.74% at 32,039.47. The S&P BSE Small-Cap index was up 119.20 points, or 0.75% at 16,016.21.

High volumes were witness on the counter. On the BSE, 1.91 lakh shares were traded on the counter so far as against the average daily volumes of 46,436 shares in the past one quarter. The stock had hit a high of Rs 84 and a low of Rs 79.20 so far during the day. The stock had hit a 52-week high of Rs 87.95 on 31 March 2017 and a 52-week low of Rs 40.05 on 12 July 2016.

The stock had outperformed the market over the past one month till 12 July 2017, advancing 18.4% compared with the Sensexs 2.28% rise. The scrip had, however, underperformed the market over the past one quarter sliding 4.17% as against the Sensexs 7.29% rise. The scrip had, however, outperformed the market over the past one year advancing 89.81% as against the Sensexs 14.37% rise.

The small-cap company has equity capital of Rs 141.41 crore. Face value per share is Rs 10.

Shares of Mukand rose 26.7% in five trading sessions to its current market price of Rs 84, from a close of Rs 66.30 on 6 July 2017.

Mukand reported net loss of Rs 60.27 crore in Q4 March 2017, compared with net profit of Rs 6.02 crore in Q4 March 2016. Net sales rose 1.4% to Rs 688.42 crore in Q4 March 2017 over Q4 March 2016.

Mukand is engaged in manufacture of alloy and stainless steel long products.

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Board of AksharChem (India) considers fund raising through QIP
Jul 13,2017

The Board of Directors of AksharChem (India) in their meeting held on 13 July 2017 has reiterated and re-endorsed the resolution of the Board of Directors dated 14 November 2016 and as approved by the shareholders of the Company by way of a special resolution, through a postal ballot, the results of which were declared on 04 January 2017, for fund raising by way of a qualified institutions placement of equity shares of face value of Rs. 10 of the Company.

The Board has authorised the QIP Committee to determine the detailed terms and conditions thereof.

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Ramco Systems wins order from China Southern Airlines General Aviation
Jul 13,2017

Ramco Systems announced an order win from China Southern AirlinesGeneral Aviation (CSAGA), the 2nd largest offshore helicopter operator in China for integrating its organization-wide maintenance and engineering operations.

The Zhuhai-based company, which operates Asias largest fleet of Sikorsky helicopters will implement Ramco Aviation Maintenance & Engineering Suite 5.8, enabling its staff across China to automate and manage fleet data in real time.

With functions for aircraft and component tracking, quality and regulatory compliance, offline maintenance, and supply chain management, bundled with advanced reporting and analytics capabilities, Ramcos mobilefriendly solution offers an end to end maintenance engineering system tightly integrated with HR & Finance modules aimed at significantly reducing paperwork and human error.

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Sahyog Multibase announces change in website
Jul 13,2017

Sahyog Multibase announced that the Company has changed its website from www.sahyogcredits.com to www.sahyogmultibaselimited.com.

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Mobilisation Advances from NHAI to Cushion Against Delays in Hybrid Annuity Projects; But Low Equity Weighs On
Jul 13,2017

National Highways Authority of Indias (NHAI; IND AAA/Stable) payment of mobilisation advances to developers will provide a fillip to the construction pace of hybrid annuity model (HAM) projects, says India Ratings and Research (Ind-Ra). HAM was introduced to rejuvenate the road sector and lessen the equity burden on the already stressed developers. Lenders are gradually familiarising with this contract structure. Nevertheless, case-specific impediments such as aggressive bids and stressed sponsors among others continue to delay financial closure. At the same time, the agency feels low equity in HAM projects will weigh on funding decisions.

Construction funding accounts for 40% of the total cost in HAM projects and is released by the authority in five tranches linked to the milestones, while the balance (60%) is arranged by the concessionaire. The developer would fund not more than 25% of the non-authority component (60%), which necessitates raising debt. Therefore, the equity portion is narrowed to 15% of the project cost against the earlier set pattern of 20% or 25%.

Clause 23.8 of the HAM concession agreement delineates a provision to grant 10% of the project cost as a mobilisation advance to the concessionaire. To avail this facility, the concessionaire has to provide a bank guarantee for a value of 110% of the mobilisation advance to the authority. This will be set off proportionately against the construction period annuities. Although the net equity injection is only in the range of 2%-5%, the non-availability of funds is unlikely to hinder the construction progress. The project is likely to have sufficient funds because equity injections, mobilisation advances, debt drawdowns and timely grants would hasten the completion subject to the full availability of the land. Generally, these projects are executed by the in-house engineering, procurement & construction (EPC) companies. Therefore, the low equity component in the project with EPC margins being front ended, limits the incentive for the sponsors, an issue which continues to haunt some of the stressed toll projects.

Ind-Ra rated its first HAM Project Welspun Delhi Meerut Expressway Private Limited at IND A/Stable in June 2017. The rating reflects the projects low revenue risk, fast pace of construction progress, favourable leverage and debt structure and comfortable debt service coverage ratios.

Of the 27 HAM projects bid up to December 2016, finances have been tied up for 60%. Lenders wary of funding HAM projects have gradually acclimatised to the contract structure especially the equity light model. Another 16 projects awarded later are yet to achieve financial closure. Amid lenders cautious approach to infrastructure, a delay of about six months is usual and the agency believes that projects battling financial closure could be due to case-specific issues. Simultaneously, sponsors experience, capabilities in executing projects on a timely basis and debt service coverage ratios are crucial in taking funding decisions.

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Insecticides (India) on a rising trend
Jul 13,2017

Meanwhile, the S&P BSE Sensex was up 233.25 points or 0.73% at 32,038.07. The S&P BSE Small-Cap index rose 118.79 points or 0.75% at 16,015.80.

On the BSE, 1,817 shares were traded on the counter so far as against the average daily volumes of 18,903 shares in the past one quarter. The stock had hit a high of Rs 680 and a low of Rs 673 so far during the day. The stock had hit a record high of Rs 718.70 on 8 June 2017 and a 52-week low of Rs 437.45 on 22 November 2016.

The stock had underperformed the market over the past one month till 12 July 2017, sliding 0.59% compared with the Sensexs 2.28% rise. The stock had, however, outperformed the market over the past one quarter, gaining 21.99% as against the Sensexs 7.29% rise. The scrip had also outperformed the market over the past one year, advancing 38.2% as against the Sensexs 14.37% rise.

The small-cap company has equity capital of Rs 20.67 crore. Face value per share is Rs 10.

Shares of Insecticides (India) have surged 7.63% in seven trading sessions to its current market price, from its close of Rs 630.95 on 4 July 2017.

Insecticides (India)s net profit surged 1139.6% to Rs 5.95 crore on 1.2% decline in net sales to Rs 175.98 crore in Q4 March 2017 over Q4 March 2016.

Insecticides (India) manufactures all types of insecticides, weedicides, fungicides and plant growth regulators (PGRs) for all types of crops and household.

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Premier Chennai Properties proposes to buyback equity shares
Jul 13,2017

Premier Chennai Properties proposes to buyback equity shares of the Company. The Board of the Company will consider the proposal on 17 July 2017.

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Jubilant Industries to hold board meeting
Jul 13,2017

Jubilant Industries will hold a meeting of the Board of Directors of the Company on 19 July 2017.

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Chokhani Securities to hold board meeting
Jul 13,2017

Chokhani Securities will hold a meeting of the Board of Directors of the Company on 10 August 2017.

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Greencrest Financial Services to hold board meeting
Jul 13,2017

Greencrest Financial Services will hold a meeting of the Board of Directors of the Company on 11 August 2017.

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Rosekamal Textiles to hold board meeting
Jul 13,2017

Rosekamal Textiles will hold a meeting of the Board of Directors of the Company on 25 July 2017.

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Tinna Rubber and Infrastructure to hold board meeting
Jul 13,2017

Tinna Rubber and Infrastructure will hold a meeting of the Board of Directors of the Company on 11 July 2017.

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Autoriders International to hold board meeting
Jul 13,2017

Autoriders International will hold a meeting of the Board of Directors of the Company on 8 August 2017.

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SREI Infrastructure Finance to hold board meeting
Jul 13,2017

SREI Infrastructure Finance will hold a meeting of the Board of Directors of the Company on 22 July 2017.

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