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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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Priya to hold board meeting
Sep 06,2016

Priya will hold a meeting of the Board of Directors of the Company on 8 September 2016, for the purpose of discussion on Scheme of Amalgamation of VXL Instruments Limited with Priya Limited

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CESC to hold board meeting
Sep 06,2016

CESC will hold a meeting of the Board of Directors of the Company on 14 September 2016.

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Innovation Software Exports to hold AGM
Sep 06,2016

Innovation Software Exports announced that the 24th Annual General Meeting (AGM) of the company will be held on 30 September 2016.

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Crazy Infotech to hold AGM
Sep 06,2016

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

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DST commits 500 Crores for PMs Vision on Startup India
Sep 06,2016

NIDHI (National Initiative for Development and Harnessing Innovations), an umbrella program is pioneered by the Department of Science & Technology(DST), Government of India, for nurturing ideas and innovations (knowledge-based and technology-driven) into successful startups.

In order to realize the Prime Ministers ambitious Initiative on Startup India, DST aims to bring both speed and scale to transform the Startup Ecosystem in the country and has committed 500 crores to implement these new programs in next few years. This was announced by the Union Minister for Science & Technology and Earth Sciences, Dr. Harsh Vardhan, while addressing the media in New Delhi today.

NIDHI focuses on building a seamless and innovation driven entrepreneurial ecosystem especially by channelizing youth towards it and thereby bringing in the positive impact on the socio-economic development of the country. The program aims to provide technological solutions not only to the pressing needs of the society but also targets to create new avenues for wealth and job creation.

NIDHI, by design connects and strengthens all the links of the innovation chain from scouting to sustaining to securing to scaling to showcasing, because a chain is only as strong as its weakest link. The key stakeholders of NIDHI includes various departments and ministries of the central government, state governments, academic and R & D institutions, mentors, financial institutions, angel investors, venture capitalists, industry champions and private sectors. NIDHI strongly addresses the new national aspirations by massively scaling up DSTs experience of three decades in promoting innovative startups.

There are 8 components of NIDHI that support each stage of a budding startup from idea to market. The first component PRAYAS (Promoting and Accelerating Young and Aspiring Innovators & Startups), launched on 2nd September, 2016, aims to support innovators to build prototypes of their ideas by providing a grant up to Rs.10 lakhs and an access to Fabrication Laboratory (Fab Lab). The final component is the Seed Support System which provides up to One Crore rupees per start-up and is implemented through Technology Business Incubators. During the current financial year with a view to drive the innovation and startup centric new initiatives in a scaled up manner for its wider outreach across the country, a 450% increase in allocation (Rs. 180 crores) has been made in the Departments budget.

So far, DST has established more than 100 Technology Business Incubators in academic and R & D institutions of repute. These institutions include IITs, IIMs, NITs and other institutions. Each of these incubator is focused on a Technology Domain and all of these combined together house more than 2000 startups currently and offer a total incubation space of approximately 7 lakh square feet.

The Minister, also mentioned that various successful and high growth stories in affordable health care, diagnostics, applications of unmanned aerial vehicles, renewable energy, service oriented online platforms, payment gateways etc. have emerged out of these incubators.

In the recently concluded National Expert Advisory Committee Meeting on 3rd September, 2016, proposal to establish 6 Centers of Excellence were decided, at SINE- IIT Bombay, Venture Center-NCL Pune, CIIE-IIM Ahmedabad etc.,14 Technology Business Incubators which include IIT Patna and Mizoram University etc.

Ten more Incubators to be supplemented with Seed Support Systems for startups include Startup Oasis-Jaipur, Amrita TBI -Kollam, Venture Center, NCL -Pune etc. establishing a Research Park at IIT Gandhinagar . In addition, a variety of other new programs including a fellowship program for Entrepreneurs i.e. Entrepreneurs in Residence, scaling up of startups through accelerator program and women empowerment through entrepreneurship.

Apart from setting the ground ready for the prospective startups in an enabling an environment of Incubators, DST has also partnered with large corporates like Intel, Lockheed Martin, Texas Instruments and Boeing to initiate variety of technology driven and innovation based programs to promote startups. Further, DST has also partnered with Department of Higher Education, MHRD to establish Research Parks and Startup Centers in various academic institutions of national importance.

Dr. Harsh Vardhan said that Indian youth is highly talented and innovative and through NIDHI we would like to ignite the spark and help the youth to succeed and make India a preferred Startup Nation in near future.

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Syngene International establishes 4th exclusive R&D center
Sep 06,2016

Syngene International announced the establishment in Bangalore of an integrated, multi-disciplinary drug discovery and development center for Amgen, Inc. This center, named Syngene Amgen Research and Development Center (SARC), will be Syngenes fourth such exclusive R&D center. Syngene already operates dedicated R&D centers for Bristol-Myers Squibb, Abbott Nutrition and Baxter Inc.

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Hindustan Motors announces change in registered office
Sep 06,2016

Hindustan Motors announced that the Registered Office of the Company has been shifted from n++Birla Buildingn++, 14th Floor, 9/1, R N Mukherjee Road, Kolkata 700 001 to n++Birla Buildingn++, 10th Floor, 9/1, R N Mukherjee Road, Kolkata 700 001 with effect from 01 September 2016.

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Kolte Patil Developers consolidated net profit rises 31.53% in the June 2016 quarter
Sep 06,2016

Net profit of Kolte Patil Developers rose 31.53% to Rs 18.23 crore in the quarter ended June 2016 as against Rs 13.86 crore during the previous quarter ended June 2015. Sales declined 6.02% to Rs 177.25 crore in the quarter ended June 2016 as against Rs 188.60 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales177.25188.60 -6 OPM %33.3724.96 - PBDT39.0829.85 31 PBT35.4626.64 33 NP18.2313.86 32

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Kolte Patil Developers standalone net profit declines 69.07% in the June 2016 quarter
Sep 06,2016

Net profit of Kolte Patil Developers declined 69.07% to Rs 5.23 crore in the quarter ended June 2016 as against Rs 16.91 crore during the previous quarter ended June 2015. Sales rose 14.00% to Rs 38.36 crore in the quarter ended June 2016 as against Rs 33.65 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales38.3633.65 14 OPM %25.4231.50 - PBDT7.6218.38 -59 PBT6.3317.30 -63 NP5.2316.91 -69

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MoA signed with NABARD for providing central assistance to 99 prioritized irrigation projects under PMKSY
Sep 06,2016

Union Minister for Water Resources, River Development and Ganga Rejuvenation Sushri Uma Bharti has said that Rs. 77000 crore will be raised during the nest four year from the market for speedy implementation of 99 prioritized projects under Accelerated Irrigation Benefits Programme (AIBP) throughout the country. She was speaking at the signing ceremony of Memorandum of Agreement between Ministry of Water Resources, River Development and Ganga Rejuvenation and NABARD for providing central assistance to 99 prioritized irrigation projects under PMKSY in New Delhi today. The Minister said 56 AIBP projects will cover all most all drought prone districts of 18 States of country. She expressed the hope that with regular monitoring the speedy implementation the Government would be able to complete all the 99 projects well ahead of the schedule.

Union Minister of State for Water Resources, River Development and Ganga Rejuvenation Dr. Sanjeev Balyan, Vice chairman of NITI Ayog Dr. Arvind Panagariya, Shri T. Harish Rao, Water Resources Minister of Telengana, Shri Brijmohan Agrawal, Water Resources Minister of Chhattisgarh, Shri Girish Mahajan, Water Resources Minister of Maharashtra and Shri Shashi Shekhar, Secretary, Ministry of Water Resources, River Development and Ganga Rejuvenation also addressed the gathering.

The Union Cabinet on July 27, 2016 had approved the Establishment of Mission for completion of 99 prioritized projects and its funding arrangement through NABARD.

Central Government launched the Accelerated Irrigation Benefits Programme (AIBP) in the year 1996-97 to provide Central Assistance to major/medium irrigation projects in the country, with the objective to accelerate implementation of such projects which were beyond resource capability of the States or were in advanced stage of completion. Priority was given to those projects which were started in Pre-Fifth and Fifth Plan period and also to those which were benefiting Tribal and Drought Prone Areas. From the year 1999-2000 onwards, Central Loan Assistance under AIBP was also extended to minor surface irrigation projects (SMI) of special category States (N.E. States & Hill States of H. P., Sikkim, J&K, Uttaranchal and projects benefiting KBK districts of Orissa).

Since its inception, 297 Irrigation / Multi Purpose Projects have been included for funding under AIBP. Out of this 143 projects have been completed and five projects were foreclosed. An irrigation potential of 24.39 Lakh ha has been created through these projects. The cumulative Central Loan Assistance / Grant provided to States under AIBP to all of above project still 31.3.2015 was Rs. 67539.52 crore. Twenty five States got benefited from the programme.

During 2015-16, Pradhan Mantri Krishi Sinchayee Yojana (PMKSY) was launched with an aim to enhance physical access of water on farm and expand cultivable area under assured irrigation, improve on farm water use efficiency, introduce sustainable water conservation practices etc. Major and medium irrigation/multipurpose irrigation projects are being funded under PMKSY-AIBP and Repair, Renovation and Restoration (RRR) of Water Bodies, Surface Minor Irrigation (SMI) projects and Command Area Development & Water Management (CADWM) projects are being funded under PMKSY-Har Khet Ko Pani (HKKP). During 2015-16, Central Assistance of Rs. 2327.82 crore was released for projects under AIBP and CA of Rs. 1905.81 crore was released for projects under CADWM, SMI and RRR of water bodies together. Total CA of Rs 4233.63 crore was released during 2015-16 for PMKSY (AIBP+HKKP)

The issues related to implementation of projects under PMKSY-HKKP including prioritization of projects were deliberated in the Committee headed by Shri Brijmohan Agrawal, Minister (Water Resources) of Chhattisgarh. As per the information supplied by concerned States to the Committee, 99 projects have been identified for completion upto 2019-20. 23 projects (Priority-I) have been identified to be completed by 2016-17 and another 31 projects (Priority-II) have been identified to be completed by 2017-18. The balance 45 projects (Priority-III) have been identified to be completed by December 2019.

One of the major reasons for the projects to remain incomplete was inadequate provision of funds by the concerned State Governments. As a result, large amount of funds spent on these projects were locked up and the benefits envisaged at the time of formulation of the projects could not be achieved. This was a cause for concern and initiative was required at the national level to remedy the situation.

Total funds required for completion of all the 99 identified projects have been estimated at Rs.77595 crore (Rs.48546 crore for project works and Rs.29049 crore for CAD works) with estimated CA of Rs.31342 crore. Likely potential utilization through these projects is estimated to be 76.03 lakh hectare (Lakh ha).

An outlay of about Rs.11060 crore is indicated to be available from 2015-16 to 2019-20 (as per approved outlay) out of which an amount of Rs. 2327.82 crore has been released to MMI projects. Balance of Rs. 8732.18 crore may be available through budgetary support. However, the requirement of funds to complete the 99 projects is much more than the provision.

The Finance Minister in his budget speech during 2016 has announced for creation of dedicated Long Term Irrigation Fund (LTIF) in NABARD with an initial corpus of about Rs. 20,000 Crore and an amount of Rs.12517 crore has been provided as budgetary resources and market borrowings during 2016-17.

Keeping in view of the budgetary constraints, it has been decided to borrow Central share/Assistance (CA) from NABARD as per year-wise requirements which could be paid back in 15 years time keeping a grace period of 3 years. Further, the proposal envisages that the State Governments, if required, may borrow funds from NABARD for the State Share.

The scheme at the Central level has been approved with projects to be completed in a mission mode and a Mission has been established with Additional Secretary/Special Secretary in the Ministry of Water Resources, River Development and Ganga Rejuvenation as the Mission Director.

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Service sector growth picks up and outlook brightens: Nikkei India Services PMI
Sep 06,2016

August saw a solid rebound in the rate of expansion in Indian service sector business activity. Output was raised in response to a marked improvement in new work inflows and increased levels of business confidence. The trend in employment remained comparatively subdued, however, with a slight decrease in jobs signalled for the first time since September of last year.

At 54.7 in August, up from 51.9 in July, the seasonally adjusted Nikkei India Services Business Activity Index posted its highest level for over three-and-a-half years. The headline index has now signalled expansion in each of the past 14 months. Output grew in five of the six monitored categories, the exception being Hotels & Restaurants.

With growth of manufacturing production also ticking higher, the seasonally adjusted Nikkei India Composite PMI Output Index climbed from 52.4 in July to a 42-month high of 54.6 in August, highlighting a stronger improvement in private sector economic activity.

Measured across the service economy, the level of incoming new work rose at the quickest pace for three-and-a-half years. Where an expansion was registered, companies mainly linked this to improved market conditions. Similarly, manufacturing order books increased at a sharp rate that was the quickest since December 2014.

Stronger growth of business activity and incoming new work led to a modest recovery in optimism at service providers. Over 27% of companies expect activity to increase over the coming year, compared to 1% that forecast lower output volumes. Business confidence was linked to greater client interest and improved market conditions. Although the degree of positive sentiment rose to its highest since the start of 2015, it should be noted that it remained below its long-run survey average.

August saw no change in the level of Indian private sector employment, as a slight increase at manufacturers offset a mild fall at service providers. The latter registered the first decline in 11 months, but the rate of job shedding was only slight. Decreases in staffing levels were signalled across the Financial Intermediation, Hotels & Restaurants, Post & Telecommunications, Renting & Business Activities and Transport & Storage categories. However, rates of job losses were negligible in all of these categories.

Price pressures in the service sector remained subdued in August. Average costs declined marginally for the second successive month, which firms attributed to lower diesel, fuel and vegetable prices. Meanwhile, average service charges ticked higher, following a slight decrease in the prior survey month. Goods producers signalled further increases in purchase costs and factory gate charges, although rates of inflation eased in both cases.

Latest survey data pointed to additional pressure on the capacity of private sector companies in India as outstanding business rose at manufacturers and service providers alike. Rates of accumulation were at 32- and 22-month highs respectively.

Commenting on the Indian Services PMI survey data, Pollyanna De Lima, economist at IHS Markit, and author of the report, said: The service sector showed upbeat levels of performance in August. New business was the main driver of activity growth, even amid increased competition for new work. It was encouraging to see rates of expansion in output and incoming new work reaching 43- and 42-month highs respectively.

The numbers of in-house staff fell, however, as firms remained somewhat uncertain regarding the sustainability of the upturn in demand. However, a further uptick in backlogs - the sharpest in nearly two years - may lead service providers to create jobs in coming months.

Healthy levels of confidence were also signalled, with firms expecting greater client interest and improved market conditions to underpin output growth in the year ahead. All-in-all, PMI data suggest that the service sector looks set to maintain its strong performance in the months ahead.

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Hindustan Fluoro Carbons reports standalone net profit of Rs 0.17 crore in the June 2016 quarter
Sep 06,2016

Net profit of Hindustan Fluoro Carbons reported to Rs 0.17 crore in the quarter ended June 2016 as against net loss of Rs 3.36 crore during the previous quarter ended June 2015. Sales rose 6.07% to Rs 9.44 crore in the quarter ended June 2016 as against Rs 8.90 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales9.448.90 6 OPM %14.41-24.04 - PBDT0.55-3.04 LP PBT0.17-3.36 LP NP0.17-3.36 LP

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Sunteck Realty to hold AGM
Sep 06,2016

Sunteck Realty announced that the 33rd Annual General Meeting (AGM) of the company will be held on 29 September 2016.

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RattanIndia Infrastructure to hold AGM
Sep 06,2016

RattanIndia Infrastructure announced that the 6th Annual General Meeting (AGM) of the company will be held on 30 September 2016.

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Jaypee Infratech to hold board meeting
Sep 06,2016

Jaypee Infratech will hold a meeting of the Board of Directors of the Company on 10 September 2016, to consider and approve the Un-audited Standalone Financial Results of the Company for the quarter ended 30 June 2016. (Q1)

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