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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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Cabinet approves sale of part of surplus and vacant land of Hindustan Anti-biotics
Dec 21,2016

The Union Cabinet chaired by the Prime Minister has approved the sale of part of surplus and vacant land at Pimpri in Pune, Maharashtra for meeting the liabilities of Hindustan Anti-biotics (HAL).

The proposal entails:

(i) Sale of surplus and vacant land of about 87.70 acres of HAL (actual area of land to be sold would depend upon the rates received in bids, as per guidelines of BIFR) to meet the net liabilities of Rs 821.17 crore after waiver and deferment, through an open competitive bid from Central /State Government Departments, Govt. Agencies, Central/State PSUs, Autonomous Bodies, Urban Development Authorities etc.

(ii) Waivers of Govt. of India loans and interest amounting to Rs 307.23 crore (principal amount of Rs 186.96 crore and interest approximately Rs 120.27 crore thereon calculated as on 30.9.2017) and deferment of various dues amounting to Rs 128.68 crore.

(iii) Sanction of an immediate loan of Rs 100 crore to meet the wages, salaries and other critical expenses of immediate nature. The loan will be repaid to the Government from sale proceeds of the HAL land.

The approval will help the Government in optimum utilization of the Companys assets and to take further decisions in respect of the Company for:

(i) Rehabilitation; (ii) Strategic Sale; or (iii) Closure

On implementation of the scheme/proposal, HAL will be lean with no liabilities and clean balance-sheet, so that the implementation of recommendations of the Ministers Committee is facilitated.

Sale of HAL land at Pimpri in Pune, Maharashtra will facilitate mitigation of sufferings and critical condition of the employees and if the liabilities are met and the balance sheet is cleaned, the implementation of recommendations of the Ministers Committee will be facilitated.

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Board of Fischer Chemic decides to reduce equity share capital
Dec 21,2016

Fischer Chemic announced that the Board of Directors of the Company at its meeting held on 21 December 2016 has decided to reduce the equity share capital of the Company from Rs 3.44 crore divided into 34,40,000 equity shares of Rs 10 each to Rs 17.20 lakh dividend into 1,72,000 equity shares of Rs 10 each and that such reduction be affected by cancelling of 32,68,000 equity shares of Rs 10 each amounting to Rs 3.26 crore in the existing paid up equity share capital against debit balance in profit and loss account.

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Mercator gains for second day in a row after new order win
Dec 21,2016

Meanwhile, the S&P BSE Sensex was down 79.53 points or 0.3% at 26,228.45

On the BSE, 1.72 lakh shares were traded on the counter so far as against average daily volumes of 4.64 lakh shares in the past one quarter. The stock hit a high of Rs 40.80 and a low of Rs 39.10 so far during the day.

The stock had hit a 52-week high of Rs 54.55 on 6 September 2016. The stock had hit a 52-week low of Rs 15.90 on 12 February 2016. The stock had outperformed the market over the past 30 days till 20 December 2016, rising 15.11% compared with the 2.11% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, sliding 16.84% as against Sensexs 7.72% decline.

The small-cap company has equity capital of Rs 24.49 crore. Face value per share is Re 1.

Shares of Mercator had gained 5.12% to settle at Rs 40 yesterday, 20 December 2016 boosted by the companys announcement that one of its vessels has secured a time charter contract of total value of about Rs 120 crore. The period of contract is four years (inclusive of charterers options) and the charter will commence from January 2017. The announcement was made during market hours yesterday, 20 December 2016.

Mercator reported net loss of Rs 27.05 crore in Q2 September 2016 compared with net profit of Rs 14.59 crore in Q2 September 2015. Net sales declined 19.58% to Rs 133.28 crore in Q2 September 2016 over Q2 September 2015.

Mercator group has business interests in coal, oil & gas, shipping and dredging.

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Aban Offshore gains on bargain hunting
Dec 21,2016

Meanwhile, the BSE Sensex was down 75.97 points, or 0.29%, to 26,232.01.

On the BSE, so far 5.57 lakh shares were traded in the counter, compared with average daily volumes of 5.64 lakh shares in the past one quarter. The stock had hit a high of Rs 243.80 and a low of Rs 233.60 so far during the day.

The stock hit a 52-week high of Rs 286 on 25 October 2016. The stock hit a 52-week low of Rs 142.50 on 12 February 2016. The stock had outperformed the market over the past 30 days till 20 December 2016, rising 15.34% compared with the 2.11% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 12.51% as against Sensexs 7.72% decline.

The small-cap company has equity capital of Rs 11.67 crore. Face value per share is Rs 2.

Shares of Aban Offshore fell 10.86% in six trading sessions to settle at Rs 233.40 yesterday, 20 December 2016, from its close of Rs 261.85 on 12 December 2016.

On a consolidated basis, Aban Offshore reported net loss of Rs 274.74 crore in Q2 September 2016 as against net profit of Rs 59.56 crore in Q2 September 2015. Net sales declined 59.70% to Rs 399.01 crore in Q2 September 2016 over Q2 September 2015.

Aban Offshore owns and operates several offshore drilling rigs, drill ships, and a floating production facility.

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Board of Prithvi Softech accepts resignation of director
Dec 21,2016

Prithvi Softech announced that the Board of Directors of the Company on the meeting held on 20 December 2016 has taken on record the resignation of Ashok Kumar Delichand from the post of managing director with effect from 01 January 2017. However, he will continue as director of the Company.

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Shree Pushkar Chemicals & Fertilizers announces resignation of director
Dec 21,2016

Shree Pushkar Chemicals & Fertilizers announced that in consequence of withdrawal of nomination by IFCI Venture Capital Funds; Poonam Garg has tendered her resignation letter to the Company from their Directorship in the Company.

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Jeevan Scientific Technologys Clinical Pharmacology Centre gets approved by DCGI
Dec 21,2016

Jeevan Scientific Technology announced that the Companys Clinical Pharmacology Centre to conduct Bioavailability/Bioequivalence studies has been approved by the n++Office of Drug Control General, India (DCGI)n++ on 16 December 2016 for a period of Three (3) years.

This Centre having four independent clinics having a total capacity of 132 beds will facilitate end-to-end Bioequivalence studies by Jeevan Scientific Technology.

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Sadbhav Engineering hikes stake in subsidiary
Dec 21,2016

Sadbhav Engineering has acquired 10,50,000 shares (0.29%) of Sadbhav iIfrastructure Project, subsidiary of the Company.

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Shree Bhawani Paper Mills appoints director
Dec 21,2016

Shree Bhawani Paper Mills announced that the Board of Directors of the Company has appointed Anjoo Vinod as an Additional Director of the Company as per the provisions of Section 161 of the Companies Act, 2013.

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JRI Industries & Infrastructure reports standalone nil net profit/loss in the September 2016 quarter
Dec 21,2016

JRI Industries & Infrastructure reported no net profit/loss in the quarter ended September 2016 as against net profit of Rs 0.01 crore during the previous quarter ended September 2015. There were no Sales reported in the quarter ended September 2016 as against Rs 1.31 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales01.31 -100 OPM %00.76 - PBDT00.01 -100 PBT00.01 -100 NP00.01 -100

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NIIT Tech gains after entering into settlement agreement with Govt entity
Dec 21,2016

The announcement was made after market hours yesterday, 20 December 2016.

Meanwhile, the BSE Sensex was up 34.11 points, or 0.13%, to 26,342.09.

On the BSE, so far 21,000 shares were traded in the counter, compared with average daily volumes of 23,292 shares in the past one quarter. The stock had hit a high of Rs 440 and a low of Rs 426.50 so far during the day.

The stock hit a 52-week high of Rs 614.35 on 22 December 2015. The stock hit a 52-week low of Rs 370 on 9 November 2016. The stock had outperformed the market over the past 30 days till 20 December 2016, rising 7.86% compared with the 2.11% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 4.79% as against Sensexs 7.72% decline.

The small-cap company has equity capital of Rs 61.36 crore. Face value per share is Rs 10.

In Q1 June 2016, NIIT Technologies made a provision of Rs 36.13 crore for amounts outstanding in respect of a government contract, where the programme was put on hold to resolve certain project issues.

In the latest announcement, NIIT Technologies said that it has concluded the consultation process with the said government entity and has entered into a settlement agreement. Accordingly, this may result in partial reversal of the provision outlined in the said note in the current financial year.

On a consolidated basis, NIIT Technologies net profit rose 90.42% to Rs 59.60 crore on 3.30% increase in net sales to Rs 691.30 crore in Q2 September 2016 over Q1 June 2016.

NIIT Technologies is a global IT solutions organization addressing the requirements of clients across the Americas, Europe, Asia, and Australia. The company services clients in travel and transportation, banking and financial services, insurance, manufacturing, and media verticals, offering a range of services, including application development and maintenance, infrastructure management, and business process management.

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Prerna Infrabuild standalone net profit rises 1528.57% in the September 2016 quarter
Dec 21,2016

Net profit of Prerna Infrabuild rose 1528.57% to Rs 2.28 crore in the quarter ended September 2016 as against Rs 0.14 crore during the previous quarter ended September 2015. There were no Sales reported in the quarter ended September 2016 and during the previous quarter ended September 2015.

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Neo Corp International reports standalone net loss of Rs 3.63 crore in the September 2016 quarter
Dec 21,2016

Net loss of Neo Corp International reported to Rs 3.63 crore in the quarter ended September 2016 as against net profit of Rs 4.61 crore during the previous quarter ended September 2015. Sales declined 74.92% to Rs 47.80 crore in the quarter ended September 2016 as against Rs 190.58 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales47.80190.58 -75 OPM %-3.7010.42 - PBDT-1.807.48 PL PBT-6.344.98 PL NP-3.634.61 PL

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Tree House Education & Accessories announces resignation of directors
Dec 21,2016

Tree House Education & Accessories announced that

1. Chanakya Dhanda has resigned from the post of Independent Director of the Company w.e.f. 15 December 2016.

2. Ram Kumar Gupta has resigned from the post of Independent Director of the Company w.e.f. 16 December 2016.

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Bata India gains after introducing VRS at Faridabad unit
Dec 21,2016

The announcement was made during trading hours today, 21 December 2016.

Meanwhile, the BSE Sensex was up 67.82 points, or 0.26%, to 26,375.80

On the BSE, 24,000 shares were traded on the counter so far as against the average daily volumes of 46,651 shares in the past one quarter. The stock had hit a high of Rs 429.30 and a low of Rs 423 so far during the day.

The stock hit a 52-week high of Rs 613.55 on 1 August 2016. The stock hit a 52-week low of Rs 400 on 25 November 2016. The stock had underperformed the market over the past 30 days till 20 December 2016, rising 0.69% compared with the 2.11% rise in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 17.55% as against Sensexs 7.72% decline.

The mid-cap company has equity capital of Rs 64.26 crore. Face value per share is Rs 5.

Bata India said that companys board of directors at its meeting held today, 21 December 2016 considered and approved introduction of a voluntary retirement scheme (VRS) for all eligible employees/ workers at its Faridabad unit. The status of implementation of VRS and financial impact thereof will be ascertained and communicated in due course. The company believes that implementation of the VRS will be beneficial for it in the long term, Bata India said.

Bata Indias net profit fell 36.37% to Rs 34.59 crore on 2.98% fall in total income to Rs 597.82 crore in Q2 September 2016 over Q2 September 2015.

Bata India is the largest footwear retailer in India, offering footwear, accessories and bags across brands like Bata, Hush Puppies, Naturalizer, Power, Marie Claire, Weinbrenner, North Star, Scholl, Bata Comfit and Bubblegummers to name a few. It retails in over 1,265 Bata stores, on bata.in and in thousands of multi-brand footwear dealer stores pan-India.

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