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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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Indias crude oil refinery output rises 1.8% in March 2017
Apr 25,2017

Indias crude oil refinery output increased 1.8% to 21.45 mt in March 2017 over March 2016. The output of public sector refineries rose 0.2% to 11.68 mt, while the output of private refineries moved up 7.7% to 8.45 mt. However, the refinery output of public-private JV refiners dipped 14.9% to 1.33 mt in March 2017.

Among public refineries, the output of Indian Oil Corporation increased 9.8% to 6.08 mt, while the output of Hindustan Petroleum Corporation rose 0.9% to 1.56 mt in March 2017 over March 2016. However, the output of Mangalore Refineries declined 6.4% to 1.30 mt, Numaligarh Refineries 13.1% to 0.22 mt, Bharat Petroleum Corporation 14.0% to 1.75 mt and Chennai Petroleum Corporation 14.5% to 0.77 mt in March 2017.

Among private refiners, the output of Reliance Petroleum moved up 9.0% to 6.65 mt, while that of Essar Oil also improved 3.0% to 1.80 mt in March 2017 over March 2016.

Among JV refineries, the output of Bharat Oman fell 17.2% to 0.53 mt, while the output of HPCL Mittal also dipped 13.3% to 0.80 mt in March 2016.

The cumulative refinery output increased 4.8% to 238.96 mt in April-March 2017. The output of public refineries increased 7.5% to 129.21 mt, while that of private refineries moved up 2.5% to 94.02 mt. The refinery output of JV refineries fell 1.4% to 15.73 mt in April-March 2017. Among public refineries, the output of Indian Oil Corporation improved 10.7%, Bharat Petroleum Corporation 5.4%, Hindustan Petroleum Corporation 3.4%, Chennai Petroleum Corporation 6.9%, Numaligarh Refineries 5.3% and Mangalore Refineries 3.3%.

The overall capacity utilization was lower at 109.1% in March 2017 compared with 117.4% in March 2016, while it was also lower at 106.7% in April-March 2017 compared with 108.3% in April-March 2016.

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Indias crude oil production rises 0.9% in March 2017
Apr 25,2017

Indias crude oil production rose 0.9% to 3.09 million tonnes (mt) in March 2017 over March 2016. Crude oil output of ONGC increased 3.3% to 1.93 mt, while that of Oil India also improved 9.1% to 0.29 mt. ONGCs offshore output moved up 3.6% to 1.41 mt, while onshore production rose 2.6% to 0.52 mt. However, the crude oil production of private and joint venture (JV) companies dipped 6.2% to 0.87 mt in March 2017.

Crude oil output fell 2.5% to 36.01 mt in April-March FY2017, in addition to 1.4% fall recorded in FY2016. Output of ONGC declined 0.6% to 22.22 mt, while private companies fell -7.3% to 10.53 mt. the crude oil output of Oil India rose 1.0% to 3.26 mt in FY2017 over FY2016.

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World Bank Approves $375 Million to Help India Develop its First Modern Waterway
Apr 25,2017

The World Bank will support India as it sustainably develops its first modern inland water transport fairway on a 1,360 km-stretch of the Ganga river between Varanasi and the seaport of Haldia, bringing thousands of jobs in cargo logistics and transportation to one of the most populous regions in the country.

The World Banks Board approved a $375 million loan to help the Inland Waterways Authority of India (IWAI) put in place the state-of-the-art infrastructure and navigation services needed to develop the waterway -- known as National Waterway 1 -- as an efficient logistics artery for northern India, while adopting the least intrusive methods of making the river navigable. The Capacity Augmentation of National Waterway 1 (Jal Marg Vikas) Project will help save more than 150,000 tons of CO2 equivalent in greenhouse gas emissions annually by moving cargo away from fossil fuel-consuming road and rail networks.

Experience from other countries shows that carrying bulk cargo by water is cheaper and less polluting that transporting it by road and rail. Goods in India, however, mostly travel by congested road and rail networks, slowing cargo movement and increasing the costs of trade logistics, which are estimated to account for as much as 18 % of the countrys GDP. The current logistics network is also insufficient to accommodate the threefold increase in freight movement expected over the coming decade.

n++Harnessing the mighty rivers of South Asia to build an effective multi-modal transport strategy will give the region a competitive edge on the global scene,n++ says Junaid Ahmad, World Bank Country Director for India. n++This project will allow India to move goods seamlessly between road, rail and water, and bring down logistics costs. Importantly, this Project will help IWAI put in place environmentally-sustainable strategies for inland navigation that can be replicated on other waterways in India and other countries.n++

Multi-modal transport solutions

NW1 passes through one of Indias most densely populated areas, and a sizeable 40 percent of the countrys traded goods either originate from this resource-rich region or are destined for its teeming markets. While the region generates about 370 million tonnes of freight annually, only about 5 million tonnes currently travels by water.

Once operational, NW1 will form part of the larger multi-modal transport network being planned along the Ganga. It will link with the Eastern Dedicated Rail Freight Corridor, as well as with the areas existing network of highways, allowing the regions manufacturers and agricultural producers to use different modes of transport to reach markets in India and abroad.

State-of-the-art infrastructure and services

The Project will help build the infrastructure needed to develop water transportation in the area. It will finance the construction of six multi-modal terminals, 10 RORO jetties, ship-repair facilities as well as passenger jetties along the river. It will also help modernize the ageing Farakka lock and add a new lock to allow for smoother passage of boats. The Project will also help IWAI acquire a state-of-the-art River Information System as well as navigation aids to make travel on the river safer and more reliable.

n++The Government of India has an ambitious plan to develop more than a 100 waterways that criss-cross the country,n++ says Arnab Bandyopadhyay, Lead Transport specialist and the World Bank task team leader for the Project. n++This Project will also help IWAI strengthen its institutional capacities to steer the development of the sector in an efficient and environmentally sustainable manner.n++

Environment sustainability key

All project interventions have been planned keeping in mind the need to ensure the environmental sustainability of the river. There will be no abstraction or storage of water under the Project, nor will the navigation services planned affect the flow of the river. Cognizant of the impacts of dredging to establish a deep channel, IWAI has decided to accept the currently available natural depths of the river - ranging from 3 meters in the lower stretches to 2 meters further upstream - for its proposed navigation channel, thus minimizing the need for dredging.

Environment protocol for operations

n++ Zero discharge standards for all terminals and vessels; waste from vessels to be emptied only at designated barge-maintenance stations for treatment.

n++ All vessels to use cleaner fuels such as liquefied natural gas.

n++ Vessels travelling through operating in critical aquatic habitats will restrict speed to 5km per hour; noise mufflers and propeller guards to be fitted; no dredging in protected habitat.

The Project will also support the design and development of a new fleet of low-draft barges capable of carrying up to 2000 tonnes of cargo in these shallower depths. Where needed, temporary structures (bandals) made of natural materials such as bamboo will be erected to provide additional sailing depth. In addition, the Project has introduced an innovative assured depth contract framework to incentivize minimal dredging by agencies responsible for keeping the fairway open for navigation. These strategies have helped reduce the need for dredging in the navigation channel to only about 1.5 percent of the rivers annual silt load. Even this limited dredging will only be done using modern, less intrusive technologies such as the water injection method which has the additional advantage of ensuring that sediments remain within the rivers ecosystem.

The US$375 million loan from the International Bank for Reconstruction and Development (IBRD), has a 7-year grace period, and a maturity of 17 years.

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Brokerage buy boosts UltraTech Cement
Apr 25,2017

Meanwhile, the S&P BSE Sensex was up 290.20 points or 0.98% at 29,946.04.

On the BSE, 30,000 shares were traded on the counter so far as against the average daily volumes of 25,253 shares in the past one quarter. The stock had hit a high of Rs 4,259.90 so far during the day, which is a record high. The stock hit a low of Rs 4,110.05 so far during the day.

The stock had hit a 52-week low of Rs 3,050 on 11 May 2016. It had outperformed the market over the past one month till 24 April 2017, advancing 4.34% compared with the Sensexs 0.8% rise. The scrip had also outperformed the market over the past one quarter, gaining 13.47% as against the Sensexs 8.33% rise.

The large-cap company has equity capital of Rs 274.51 crore. Face value per share is Rs 10.

Shares of UltraTech Cement had risen 4.42% to settle at Rs 4,144. 35 yesterday, 24 April 2017. The companys consolidated net profit declined 11.24% to Rs 726 crore on 2.59% growth in net sales to Rs 6922 crore in Q4 March 2017 over Q4 March 2016. The result was announced during market hours yesterday, 24 April 2017.

UltraTech said that work on setting up the 3.5 million tonnes per annum (MTPA) integrated cement plant at Dhar, Madhya Pradesh is on track. Commercial production is expected to commence from Q4 of FY 2019.

With this expansion and the acquisition of the cement plants of Jaiprakash Associates, the companys cement capacity will stand augmented to 95.4 MTPA, including its overseas operations.

UltraTech Cement is a leading cement manufacturer in India. It is a part of the Aditya Birla Group.

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Can Fin Homes moves up on strong Q4 results
Apr 25,2017

The result was announced during market hours today, 25 April 2017.

The stock has jumped 7.81% in five sessions to its ruling price of Rs 2,625.80, from a close of Rs 2,435.55 on 19 April 2017.

Meanwhile, the S&P BSE Sensex was up 252.62 points, or 0.85%, to 29,908.46. The S&P BSE Mid-Cap index was up 134.70 points, or 0.92%, to 14,760.43.

On the BSE, 16,089 shares were traded in the counter so far, compared with an average volume of 11,143 shares in the past one quarter.

The stock had hit a high of Rs 2,633.95 and a low of Rs 2,555.25 so far during the day. The stock had hit a record high of Rs 2,669.55 on 13 April 2017. The stock had hit a 52-week low of Rs 1,079.85 on 24 June 2016.

It had outperformed the market over the past one month till 24 April 2017, gaining 25.03% compared with the Sensexs 0.8% rise. The scrip had also outperformed the market over the past one quarter, advancing 49.28% as against the Sensexs 8.33% rise.

The mid-cap company has an equity capital of Rs 26.62 crore. Face value per share is Rs 10.

Can Fin Homes main business is to provide loans for the purchase and construction of residential houses.

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World Bank To Provide US$ 600 million (approx. Rs 3,870 crore) Across Four New Projects in Jharkhand
Apr 25,2017

The World Bank extended its support to the Government of Jharkhand with a proposed assistance program of about US$ 600 million (approx. Rs 3,870 crore1]) for four new state-level projects over the next 2-3 years*. This was announced by the World Bank Country Director, Junaid Ahmad, following his meetings with the Chief Minister of Jharkhand, Raghubar Das. This is the first state visit by the Country Director of the World Bank since taking over office.

The new state-level projects will help improve infrastructure and provide sustainable urban and rural services in the areas of water supply and sanitation for the people of Jharkhand; increase the power transmission capacity; and diversify household income through select farm and non-farm sectors.

n++Jharkhand is a key state in Indias growth trajectory and in its fight against poverty. The Chief Minister has identified a series of important reforms to hasten the pace of development in the state and the World Bank has committed its full support to these efforts,n++ said Junaid Ahmad World Bank Country Director in India, following his meeting with the Chief Minister. n++Our projects over the next few years will help the state strengthen the delivery of public services through investments in rural and urban infrastructure - enabling its people to gain access to better jobs and services,n++ he added.

Among the upcoming projects, the US$ 300 million (approx. Rs 1,935 crore) Jharkhand Municipal Development Project aims to provide citizens with sustainable basic services such as water supply and sanitation by enhancing the capacity of Urban Local Bodies (ULBs) to undertake policy reforms and set up systems that will help them better manage their resources and increase accountability.

The US$ 150 million (approx. Rs 967.50 crore) World Bank financing for Jharkhand Power System Improvement Project will support the state in increasing the transmission of power from Jharkhand to other states of the country; increase the power transmission capacity; streamline procurement and contract management practices in the transmission company, Jharkhand Urja Sancharan Nigam (JUSNL); and help the distribution company, Jharkhand Bijli Vitran Nigam, (JBVNL) reduce its Aggregate Transmission and Commercial (AT&C) losses.

The US$ 100 million (approx. Rs 645 crore) World Bank financing for Jharkhand Opportunities for Harnessing Rural Growth Project (JOHAR) will enhance and diversify household income in select farm and non-farm sectors. The project will promote market access and private sector participation, foster skill development relevant to the value chains, and facilitate the development of a pro-poor agricultural system.

The Jharkhand Service Delivery Improvement Project, for which the World Bank is expected to provide US$ 50 million (approx. Rs 322.50 crore) will help the government provide services to its citizens through the Pragya Kendras. The project aims to increase the number of beneficiaries accessing real time gross settlement of funds (RTGS) services, especially in rural areas; improve the timelines and quality of services and increase the number of beneficiaries receiving direct benefit transfers through Integrated Financial Management Services (IFMIS) platform.

In addition to the existing pipeline of proposed projects, the World Bank will support the Government of Jharkhands reform initiatives through technical and analytical work, and bring experience from other states and countries to address state specific challenges.

The World Bank Country Director travelled to villages in Block Angara in Ranchi district and interacted with rural households. He saw how women self-help groups had mobilized themselves to help increase their family income by undertaking farm and non-farm livelihood activities like animal husbandry, handicrafts and minor forestry activities.

World Bank in Jharkhand

Several World Bank supported national development programs, amounting to Rs 2,393 crores, are currently active in Jharkhand - covering irrigation, health, roads, livelihoods, rural water, sanitation and education sectors.

Recently, a US$ 63 million (approx. Rs 406.35 crore) Tejaswini Socioeconomic Empowerment of Adolescent Girls and Young Women in Jharkhand was signed with the state on February 23, 2017. The aim of the project is to help improve market-driven skills training and secondary education for adolescent girls and young women in select districts of Jharkhand.

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M&M moves north on brokerage rating
Apr 25,2017

Meanwhile, the S&P BSE Sensex was up 255.32 points or 0.86% at 29,911.16.

On the BSE, 15.34 lakh shares were traded on the counter so far as against the average daily volumes of 1.46 lakh shares in the past one quarter. The stock had hit a high of Rs 1,310 and a low of Rs 1,279.05 so far during the day.

The stock had hit a record high of Rs 1,508.80 on 9 August 2016 and a 52-week low of Rs 1,141.80 on 2 December 2016. It had underperformed the market over the past one month till 24 April 2017, sliding 0.9% compared with the Sensexs 0.8% rise. The scrip had also underperformed the market over the past one quarter, gaining 3.65% as against the Sensexs 8.33% rise.

As per reports, the brokerage has upgraded Mahindra & Mahindra (M&M) stock to outperform from neutral with increased target price at Rs 1,500 from Rs 1,390 earlier. The brokerage house cited potential for M&Ms tractor business that will surprise positively going ahead.

Reports suggested that the brokerage believes with number of state governments planning to introduce farm loan waivers, tractor demand could get further boost. The brokerage added that weakness in utility vehicle market already factored in by M&M.

M&Ms net profit rose 33.3% to Rs 1112.27 crore on 0.3% decline in net sales to Rs 10860.05 crore in Q3 December 2016 over Q3 December 2015.

M&M enjoys a leadership position in tractors and utility vehicles in India.

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ICICI Bank announces cessation of director
Apr 25,2017

ICICI Bank has announced the cessation of . S. Ramachandran, non-executive Director of the Bank on completion of tenure of eight years as prescribed under the Banking Regulation Act, 1949 effective 24 April 2017.

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Rachana Capital & Securities opens two branch offices
Apr 25,2017

Rachana Capital & Securities has opened two branch offices as per details given here in below :

1. Purchase & Processing office Post Office Nandeshma Gogunda, Pin Code : 313708 Dist.: Udaipur (Rajasthan) Customer Care No.: 7726991983 / 9768868773
2. Sales & Marketing Office 601/B, 6th Floor, Sahyog CHS Ltd., Near Poddar Shopping Center, S V Road, Kandivvali West, Mumbai 400 067 Phone :9619468938
Both the above branches will manage Companys new business venture of Aurvedic and Herbs.

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IndusInd Bank allots 5,159 equity shares
Apr 25,2017

IndusInd Bank has allotted 5,159 (Five Thousand One Hundred Fifty Nine) equity shares of Rs. 10/- (Rupees Ten Only) each on 25 April 2017 to those grantees who had exercised their option under the Companys Employee Stock Option Scheme. The said shares will rank pari-passu with the existing shares of the Company in all respect.

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Zydus receives final approval for Olmesartan Medoxomil Tablets
Apr 25,2017

Zydus Cadila has received the final approval from the USFDA to market Olmesartan Medoxomil Tablets in strengths of 5 mg, 20 mg and 40 mg. This is a day one approval after the expiry of 181 day exclusivity. The drug is an anti-hypersensitive and will be produced at the groups formulations manufacturing facility at the Pharma SEZ in Ahmedabad.

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FDEC commences roll-out of Malaria demonstration project
Apr 25,2017

The Foundation for Disease Elimination and Control of India (FDECINDIA),Indian Council of Medical Research and Govt. of Madhya Pradesh on 25 April 2017 announced Phase 1 roll-out of Malaria demonstration project in Mandla, Madhya Pradesh.

This Phase will focus on community awareness and education programs among the community residents in Mandla. The launch was announced by Minister of State for Health Fagan Singh Kuleste at a function held in Kalpi Guest House to coincide with World Malaria Day.

The Foundation for Disease Elimination and Control of India (FDEC-INDIA) has been established by Sun Pharmaceutical Industries.

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Alembic Pharma rises after USFDA approvals for drugs
Apr 25,2017

The announcement was made during market hours today, 25 April 2017.

Meanwhile, the S&P BSE Sensex was up 241.56 points, or 0.81% to 29,897.40.

On the BSE, 12,483 shares were traded in the counter so far, compared with average daily volumes of 59,265 shares in the past one quarter. The stock had hit a high of Rs 629 and a low of Rs 605 so far during the day.

The stock had hit a 52-week high of Rs 709.30 on 23 March 2017. The stock had hit a 52-week low of Rs 517.90 on 24 June 2016.

It had underperformed the market over the past one month till 24 April 2017, gaining 0.51% compared with the Sensexs 0.8% rise. The scrip had also under performed the market over the past one quarter, advancing 3.37% as against the Sensexs 8.33% rise.

The large-cap company has equity capital of Rs 37.70 crore. Face value per share is Rs 2.

Alembic Pharmaceuticals announced that it has received final approvals from the United States Food & Drug Administration (USFDA) for its abbreviated new drug application (ANDA) Olmesartan Medoxomil Tablets, 5mg, 20mg and 40mg and Olmesartan Medoxomil with Hydrochlorothiazide Tablets 20/12.5 mg, 40/12.5 mg and 40/25 mg.

The approved ANDAs are therapeutically equivalent to the reference listed drug products (RLDs) Benicar Tablets 5mg, 20mg and 40 mg and Benicar HCT Tablets, 20/12.5 mg, 40/12.5 mg and 40/25 mg of Daiichi Sankyo Inc. The approved ANDAs are indicated for the treatment of hypertension.

Benicar and Benicar HCT had an estimated annual market size of $1.8 billion in US for twelve months ended 31 December 2016, according to IMS.

Alembic now has a total of 55 ANDA approvals (49 final approvals and 6 tentative approvals) from the USFDA.

On a consolidated basis, net profit of Alembic Pharmaceuticals declined 67.8% to Rs 86.55 crore on 15.9% decline in net sales to Rs 769.86 crore in Q3 December 2016 over Q3 December 2015.

Alembic Pharmaceuticals, a vertically integrated research and development pharmaceutical company, manufactures and markets generic pharmaceutical products all over the world.

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Board of Stanrose Mafatlal Investment & Fin. recommends final dividend
Apr 25,2017

Stanrose Mafatlal Investment & Fin. announced that the Board of Directors of the Company at its meeting held on 24 April 2017, inter alia, have recommended the final dividend of Rs 6 per equity Share (i.e. 60%) , subject to the approval of the shareholders.

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Board of Rallis India recommends special dividend
Apr 25,2017

Rallis India announced that the Board of Directors of the Company at its meeting held on 24 April 2017, inter alia, have recommended the special dividend of Rs 1.25 per equity Share (i.e. 125%) , subject to the approval of the shareholders.

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