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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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Nath Pulp & Paper Mills to hold AGM
Sep 08,2016

Nath Pulp & Paper Mills announced that the Annual General Meeting (AGM) of the company will be held on 30 September 2016.

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Modipon to hold AGM
Sep 08,2016

Modipon announced that the Annual General Meeting (AGM) of the company will be held on 30 September 2016.

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Rupee gains
Sep 08,2016

Rupee closed higher at 66.39/40 per dollar on Thursday (08 September 2016) at 66.39/40 per dollar, versus its previous close of 66.48/49 per dollar.

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Consumer behavior in heavily influenced by large social networks that allow consumers to have n++n++crowd cloutn++n++
Sep 08,2016

The changes to Indian consumer behaviour are being driven by increasing incomes, the younger profile of consumers and growing access to the internet. According to the FICCI-PwC report, Shaping Consumer Trends, the greatly increased use of smartphones, consciousness concerns about health and the environment, technological innovations and the rising complexity of decision-making due to the proliferation of products and points of sale are key areas of change that will impact consumer and retail businesses.

According to the report, these drivers are reshaping where, what and how consumersn++n++ make purchases and how they want to be served. The key business trends that are visibly unfolding and creating a large number of opportunities for consumer-driven companies are: n++h

Changing purchase patterns: The shift in purchase behaviour towards online buying, dominated by mobile phones, has been very evident over the last few years. Preferences are now clearly extending beyond the original product categories of electronics and fashion to include food and grocery as well as local origin products. n++h

Evolving desire for service: Consumers are now seeking a clutter and trouble-free experience, enabled by technology and better quality sales people.

Switch to health and wellness-driven choices: There is a marked consumer shift towards products and services that are perceived to be relatively healthy and less harmful or enhance peoplen++n++s sense of physical and mental wellness and the environment. n++h

Rise of convenience: Cash-rich and time-starved consumers are seeking a new dimension in n++n++convenience by knowledgen++n++ to help them navigate to the right products and services that are relevant for them. n++h

Growing social networks: The concept of n++n++crowd cloutn++n++ is gaining significance as consumers realise that their collective networks are enabling them to demand improved products and services from companies.

Discussing about the report, Mr. Krish Iyer, Chairman-FICCI Retail & Internal Trade Committee and President & CEO, Walmart India, n++n++The continued focus on ease of doing business by the Government augurs very well for Indian++n++s industries across sectors. Wen++n++re seeing lot of reforms by the government, not only related to FDI, but also for removing several structural & systemic bottlenecksn++n++n++n++.

n++n++n++n++So while India remains one of the most attractive markets for businesses worldwide due to its favorable demographics, size of the population, growing purchasing power and the growing consuming class, effective implementation of the progressive policy reforms will further boost the economy and create an ease of doing business environment in its true spiritn++n++n++n++, added Mr. Iyer.

Mr. Anurag Mathur, Partner and Leader n++V Consumer & Retail, PwC India, said, India is in a strong position in the world where a growing consumption capacity, demographic shape and lifestyle changes will propel double digit growth for consumer business over the next decade. However, the Indian consumers selective participation in global consumption trends & concerns coupled with local infrastructure challenges will require a unique response from companies to win and leapfrog on the growth cycle.

India has come a long way in regulating its policies and promoting ease of doing business, and has huge potential for growth in the sector. As per the report, the Government is actioning policy reforms by liberalising foreign investment norms and creating a single window clearance policy to facilitate business in the country. But there is a need for further investment under the Make in India campaign for India to compete with the developed nations of the world and make a mark in the sector.

Commenting on the steps the Government has taken so far, Mr. Akash Gupt, Partner & Leader n++V Regulatory Services, PwC India, said, n++n++Globally, investors are looking at India not only for its market size but as a destination with significant long- term potential. The evolving regulatory framework and the dynamism of the Government have opened new avenues and have twofold benefits on fulfilling objectives of make in India, and of increasing consumption demand in the country. This is the time when most regulations are and should be created around consumers. In particular, the food and beverages segment has opened up the extensive scope of manufacturing and trading in the country. And with the implementation of 100% FDI in retail trade of food products, we can expect to see an enhanced consumer basket and a utility-driven consumption trend.n++n++ Key regulatory recommendations made in the FICCI-PwC Report: n++h

Give the FMCG and Retail sector industry status so that companies are eligible for priority sector lending n++h

Continue to focus on improving n++n++ease of doing businessn++n++ in the country to improve the regulatory environment and Indian++n++s rank on the global index n++h

Implement GST early to achieve cost efficiency in the procurement and supply chain n++h

Provide fiscal incentives to the industry, including on backend infrastructure and supply chain n++h

Introduce a unified agriculture marketing ePlatform to actualise its objective of providing the n++n++best possible price to the farmern++n++

Implement a unified retail policy on a pan-India basis and introduce a time-bound functional single window to help businesses meet compliance-related requirements for all bye-laws and guidelines (This would also entail one-stop clearance for registration of entities and reduce multiple layers of approvals for critical licenses and permits required to set up shops and businesses.) n++h

Harmonise various laws such as Legal Meterology, BIS and FSSA (Any confusion on these, specifically on labelling and related issues, should be pro-actively dealt with.) and create a mechanism to address issues arising due to the multiple laws n++h

Governing the sector under the existing FDI policy on retail sector, the sector is segregated between single brand retail trading, multi brand retail trading, wholesale cash and carry trading and e-Commerce. With a view to streamline this with the global trends and practices, the government may consider having a product specific policy for foreign investment in the trading sector n++V to give example, liberalisation of policy by removing conditionalities applicable to single brand trading in case of luxury products which will allow such companies to set up shops in India. This will create a niche brand presence in the country.

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Consumer behavior in heavily influenced by large social networks that allow consumers to have crowd clout
Sep 08,2016

The changes to Indian consumer behaviour are being driven by increasing incomes, the younger profile of consumers and growing access to the internet. According to the FICCI-PwC report, Shaping Consumer Trends, the greatly increased use of smartphones, consciousness concerns about health and the environment, technological innovations and the rising complexity of decision-making due to the proliferation of products and points of sale are key areas of change that will impact consumer and retail businesses.

According to the report, these drivers are reshaping where, what and how consumers make purchases and how they want to be served. The key business trends that are visibly unfolding and creating a large number of opportunities for consumer-driven companies are:

Changing purchase patterns: The shift in purchase behaviour towards online buying, dominated by mobile phones, has been very evident over the last few years. Preferences are now clearly extending beyond the original product categories of electronics and fashion to include food and grocery as well as local origin products.

Evolving desire for service: Consumers are now seeking a clutter and trouble-free experience, enabled by technology and better quality sales people.

Switch to health and wellness-driven choices: There is a marked consumer shift towards products and services that are perceived to be relatively healthy and less harmful or enhance peoples sense of physical and mental wellness and the environment.

Rise of convenience: Cash-rich and time-starved consumers are seeking a new dimension in convenience by knowledge to help them navigate to the right products and services that are relevant for them.

Growing social networks: The concept of n++n++crowd cloutn++n++ is gaining significance as consumers realise that their collective networks are enabling them to demand improved products and services from companies.

Discussing about the report, Mr. Krish Iyer, Chairman-FICCI Retail & Internal Trade Committee and President & CEO, Walmart India, The continued focus on ease of doing business by the Government augurs very well for Indias industries across sectors. Were seeing lot of reforms by the government, not only related to FDI, but also for removing several structural & systemic bottlenecks.

So while India remains one of the most attractive markets for businesses worldwide due to its favorable demographics, size of the population, growing purchasing power and the growing consuming class, effective implementation of the progressive policy reforms will further boost the economy and create an ease of doing business environment in its true spirit, added Mr. Iyer.

Mr. Anurag Mathur, Partner and Leader n++V Consumer & Retail, PwC India, said, India is in a strong position in the world where a growing consumption capacity, demographic shape and lifestyle changes will propel double digit growth for consumer business over the next decade. However, the Indian consumers selective participation in global consumption trends & concerns coupled with local infrastructure challenges will require a unique response from companies to win and leapfrog on the growth cycle.

India has come a long way in regulating its policies and promoting ease of doing business, and has huge potential for growth in the sector. As per the report, the Government is actioning policy reforms by liberalising foreign investment norms and creating a single window clearance policy to facilitate business in the country. But there is a need for further investment under the Make in India campaign for India to compete with the developed nations of the world and make a mark in the sector.

Commenting on the steps the Government has taken so far, Mr. Akash Gupt, Partner & Leader, Regulatory Services, PwC India, said, n++n++Globally, investors are looking at India not only for its market size but as a destination with significant long- term potential. The evolving regulatory framework and the dynamism of the Government have opened new avenues and have twofold benefits on fulfilling objectives of make in India, and of increasing consumption demand in the country. This is the time when most regulations are and should be created around consumers. In particular, the food and beverages segment has opened up the extensive scope of manufacturing and trading in the country. And with the implementation of 100% FDI in retail trade of food products, we can expect to see an enhanced consumer basket and a utility-driven consumption trend.

Key regulatory recommendations made in the FICCI-PwC Report:

Give the FMCG and Retail sector industry status so that companies are eligible for priority sector lending

Continue to focus on improving ease of doing business in the country to improve the regulatory environment and Indian++n++s rank on the global index

Implement GST early to achieve cost efficiency in the procurement and supply chain

Provide fiscal incentives to the industry, including on backend infrastructure and supply chain

Introduce a unified agriculture marketing ePlatform to actualise its objective of providing the best possible price to the farmer

Implement a unified retail policy on a pan-India basis and introduce a time-bound functional single window to help businesses meet compliance-related requirements for all bye-laws and guidelines (This would also entail one-stop clearance for registration of entities and reduce multiple layers of approvals for critical licenses and permits required to set up shops and businesses.)

Harmonise various laws such as Legal Meterology, BIS and FSSA (Any confusion on these, specifically on labelling and related issues, should be pro-actively dealt with.) and create a mechanism to address issues arising due to the multiple laws

Governing the sector under the existing FDI policy on retail sector, the sector is segregated between single brand retail trading, multi brand retail trading, wholesale cash and carry trading and e-Commerce. With a view to streamline this with the global trends and practices, the government may consider having a product specific policy for foreign investment in the trading sector to give example, liberalisation of policy by removing conditionalities applicable to single brand trading in case of luxury products which will allow such companies to set up shops in India. This will create a niche brand presence in the country.

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Zensar Technologies secures 2-year digital transformation project
Sep 08,2016

Zensar Technologies announced that it has secured the digital transformation project from Avis Fleet in South Africa. Spread over a time period of two years, it involves scalability and agility to the Companys strategic technology roadmap. The overall implementation to be dividend into two phases will focus on enhancing the varied legacy technology platforms and integration of digital technologies like Agile and DevOps in building a strategic IT framework.

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India-Egypt set trade target of $ 8 billion, sign MoU on JV for marketing mobile phones
Sep 08,2016

Lava International India and Easy Group of Egypt, entered into a Memorandum of Understanding (MoU) on the establishment of a joint venture between the two companies for marketing mobile phones and other IT related equipment in Egypt initially and subsequently manufacturing the same and catering to the whole North African and MENA region markets .

The MoU was signed during the 4th India-Egypt Business Council meeting organized by the Federation of Indian Chambers of Commerce and Industry (FICCI) which was attended by Eng. Khaled Abu Elmakarem, Co-Chair of the India-Egypt Business Council from the Egyptian side, HE Mr Hatem Tageldin, Ambassador of the Arab Republic of Egypt to India, Mr Sanjay Bhattacharya, Indian Ambassador to the Arab Republic of Egypt and leading Egyptian and Indian businessmen. The MoU follows a FICCI initiative to cultivate strong business linkages between Indian companies and their Egyptian counterparts during a delegation visit to Cairo, Egypt, in March, 2016.

India and Egypt have witnessed enhanced engagement following Egyptian President Abdel Fattah el-Sisis interaction with Prime Minister Narendra Modi on the sidelines of the UN General Assembly in September 2015 and later during the Third India-Africa Forum Summit at New Delhi in October 2015.

India and Egypt are looking at intensification of dialogue between the two countries and enhanced trade and investment. India and Egypt have a trade volume of $ 3 billion -- which both sides are keen to upgrade to $ 8 billion -- and there are currently 52 Indian companies operating in Egypt of which 25 are joint ventures with a total investment of $ 3 billion across a wide range of sectors. As a US $ 286 billion economy with around 89 million consumers -- the second largest in Africa -- that Egypt represents, the potential and scope is immense.

Addressing the Business Council meeting which also coincides with the first official visit of President Abdel Fattah el-Sisi to India, Ambassador of Egypt to India HE Mr Hatem Tageldin said that the Indian and Egyptian leadership were committed to enhance cooperation in all sectors - political, cultural, economic and Defence. Mr Tageldin called upon entrepreneurs to tap the opportunities in chemicals, petrochemicals, textiles, autos and auto components, mining and renewable energy as well as those in the Suez Economic Corridor.

Describing the India-Egypt bilateral relations as poised at an important juncture, Mr Sanjay Bhattacharya called upon Egyptian businesses to work closely with Indian industry to bring to fruition the shared vision of creating a new partnership in a new era. n++There are both opportunities and challenges and also a broad understanding between the two sides of the need to take things forward,n++ Mr Bhattacharya said, highlighting opportunities of expanding economic cooperation in hydrocarbons and development projects that the Egyptian Government had launched.

Mr Vijay Sankar, Chairman of the India-Egypt Business Council from the India side highlighted the increased frequency of interactions between Indian and Egyptian businesses as sign of good times to come between the two partners. Mr Sankar said that while India Egypt cooperation has expanded to cover diverse areas, there was a need to correct the slowdown in trade.

Urging Indian industry to explore the potential in Egypt, members of the Business Council from the Egyptian side offered incentives to Indian business like allocation of land for free in upper Egypt, employment incentives, laws for protection of Intellectual property and exemption from tax for 10 years. Indian and Egyptian Business Council members also discussed possbilities of luring Bollywood to shoot in Egypt and big companies to hold annual meetings to promote corporate tourism.

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6- 8% of investments in B2C start-ups in India are made in the healthcare sector: FICCI - KPMG paper
Sep 08,2016

The road ahead for Indian++n++s healthcare sector is set to be revolutionized with the rising base of healthcare start-ups that recognize the need for making quality healthcare accessible to Indian++n++s billion plus population, according to a joint study by FICCI and KPMG in India titled Indian healthcare start-ups; An inside look into funding.

Dr. Nandakumar Jairam, Chair, FICCI Health Services Committee; Chairman, NABH and Chairman and Group Medical Director, Columbia Asia Hospitals India said, What we need today is a unified approach for long-term solutions that would help in optimizing disease-care to preventive and promotive care as well as patient centricity though data - driven efficient technologies. Fostering Start-ups and Entrepreneurship will provide the requisite innovative approach for achieving these reforms.

Mr. Vishal Bali Chair, FICCI HEAL 2016 Organizing Committee; Co-Chair, FICCI Health Services Committee & Co-founder & Chairman, Medwell Ventures said, Start-ups are already disrupting the way healthcare is delivered in India. According to the NASSCOM Start-up Ecosystem Report 2015, India serves as the fastest growing start-up-base worldwide and 6-8% of the recent B2C Start-ups in India have been in the Health-tech sector. This means that the sector has already secured ample traction from investors owing to its huge potential.

Mr. Ashok Kakkar, Co-Chair, FICCI Health Services Committee and Senior MD, Varian Medical Systems International India said, 80 per cent of the Indian population is uninsured, resulting in medical costs being paid by people from their own reserves. Start-ups combat this challenge and come up with innovative models to help people get insured on a large scale.

Mr. Nilaya Varma, Partner and Head, Government and Healthcare, KPMG in India, said, Healthcare start-ups in India have potential to emerge as new enabler of accessible and affordable healthcare services. Many start-ups have moved away from traditional healthcare delivery models to asset light, technology based and enabling platforms for patients & healthcare providers. However, start-up continue to face some encounters in terms of funding, incubation and regulatory environment. The governments Start-up India initiative intends to bridge some of the challenges and provides encouraging ecosystem for start-ups. In the recent past increasing number of HNIs, seed funds, incubators and other private investors have extended support to start-ups. The creation of conducive ecosystem for healthcare start-ups will be boon for the healthcare sector.

With a doctor patient ratio as low as 1:1700 (in proportion to the total population), stumped penetration of healthcare in rural areas and a low medically insured population, the potential for healthcare start-ups to emerge as a key member in the healthcare ecosystem is vast. Domestically, healthcare start-ups have not yet received a steady stream of funding to support their ventures with capital as low as USD27 million in the first four months of 2016. The challenges to garner fund flow is hindering multiple projects, ideas, concepts and approaches from taking off.

Private sector investments alone are not sufficient to boost the necessary change and the government needs to shoulder the dual responsibility of a guide and an investor to create a sound healthcare system to keep up with global standards. Indian++s healthcare system is vast and disorganized; however it contributes largely to the total workforce. Healthcare start-ups are likely to engage in extended innovative Research and Development (R&D), in turn increasing their accessibility to the larger population and creating greater scope for employment generation.

Other key finding presented in the knowledge paper are as follows:

Start-ups can act as a much needed facilitator to help approximately 70 per cent of the rural population with limited or no access to hospitals or clinics.

Mobile and internet platforms can be one of the means to address Indian++s deficient healthcare facilities, via innovation in technology and telemedicine. This could result in better diagnosis by doctors making the history of patients available on cloud platforms.

The start-up domain is struggling to rope in the right investors and arrange for adequate funding, which could largely be attributed to the slow pace of growth in the sector. It takes anywhere between 10 to 15 years to introduce a new product in the market with very few prevalent business models to compare with.

Indian++n++s public spending on the healthcare sector comprises of only 1.4 per cent of the GDP and is amongst the lowest in the world.

Private sector stakeholders could play a crucial hand in the growth and development of healthcare start-ups, by investing in high-risk which could enable entrepreneurs to bring medical advancements and generate higher returns for them.

Healthcare start-ups could transform the future of the sector by bridging the gap between supply and demand, especially in rural areas through smartphones and digitization of healthcare practices.

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Hexa Tradex to hold AGM
Sep 08,2016

Hexa Tradex announced that the Annual General Meeting (AGM) of the company will be held on 29 September 2016.

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Dalmia Bharat to hold AGM
Sep 08,2016

Dalmia Bharat announced that the Annual General Meeting (AGM) of the company will be held on 27 September 2016.

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Den Networks to hold AGM
Sep 08,2016

Den Networks announced that the Annual General Meeting (AGM) of the company will be held on 29 September 2016.

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Impex Ferro Tech to hold AGM
Sep 08,2016

Impex Ferro Tech announced that the Annual General Meeting (AGM) of the company will be held on 27 September 2016.

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Bharat Textiles& Proofing Industries to hold AGM
Sep 08,2016

Bharat Textiles& Proofing Industries announced that the Annual General Meeting (AGM) of the company will be held on 21 September 2016.

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Confidence Petroleum India to hold AGM
Sep 08,2016

Confidence Petroleum India announced that the Annual General Meeting (AGM) of the company will be held on 30 September 2016.

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DSJ Communication to hold AGM
Sep 08,2016

DSJ Communication announced that the Annual General Meeting (AGM) of the company will be held on 27 September 2016.

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