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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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Global Gyrations and Domestic Liquidity Glut to Keep Markets Volatile
Nov 22,2016

The improvement in domestic conditions owing to the de-notification of the currency and worsening of the global rate market conditions will keep the domestic markets on tenterhooks, says India Ratings and Research (Ind-Ra). The 10-year G-sec yield can trade between 6.28%-6.4% (6.43% at close on 18 November 2016). The rupee is likely to trade in the range of 67.85/USD-68.50/USD (68.14/USD at close on 18 November 2016).

Debt Markets at the Cusp of a New Horizon: The bond market is wedged between the improvement in domestic fundamentals and deterioration in the global environment. Ind-Ra believes that low inflation, marked improvement in the demand supply equation, expectations of further monetary easing will all keep the domestic bond market conditions constructive. Global developments, however, are likely to pose headwinds - resulting in an increase in the spread between the long end and the short end of the G-sec curve.

Liquidity Glut in the Market: The gush of bank deposits and restriction on withdrawal has led to a glut in the interbank liquidity market conditions. The situation is likely to continue for a while as the government endeavours to normalise conditions. Ind-Ra believes, volatility in the money market will continue in the near term, until normalcy is restore to banking operations. Ind-Ra also expects RBI to continue to sterilise the excessive liquidity through various modes, and explore other avenues apart from the reverse repos, if the easy liquidity conditions persist.

Headwinds to Rupee Continue: The increase in the probability of the Fed rate hike in the December 2016 policy - pushed up the dollar index to 101.2 from 97.5 through November 2016 and low of 92.6 in May 2016. The sharp strengthening of the dollar has been keeping emerging currencies under pressure. Ind-Ra believes this will keep the rupee trading with a weakening bias in the near term. Moreover, portfolio investment outflows from domestic bond markets and the weak equity market will deepen the pressure on the rupee.

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Board of Graphite India to consider September quarter & half year results
Nov 22,2016

Graphite India announced that a meeting of the Board of Directors of the Company will be held on 01 December 2016 to consider and approve unaudited financial results for the quarter / half year ended 30 September 2016.

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Kolte Patil Developers to announce September quarter & half year results
Nov 22,2016

Kolte Patil Developers announced that the Meeting of the Board of Directors of the Company will be held on 03 December 2016, inter alia, to consider and approve the unaudited Financial Results for the quarter and half year ended on 30 September 2016 and other business as per agenda.

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Drop in CV Loan Delinquencies, On-going Stress in Construction Equipment and Tractor Loans
Nov 22,2016

India Ratings and Researchs (Ind-Ras) analysis of structured finance pool data as of August 2016 shows that commercial vehicle (CV) delinquencies continued to fall while the stress in the construction equipment industry and tractor loans remained elevated. A continuous performance improvement was seen across all vintages of Ind-Ras rated commercial vehicle (CV) ABS portfolio. This is evident from the drop in the weighted average (WA) 90+ days past due (dpd) delinquency of 2014 and 2015 vintages. Also, Ind-Ras CV loans early delinquency index (tracks 30+dpd delinquencies) remained in the range of 5.2%-5.7% since the last report was published in June 2016, indicating an arrest of short-term delinquencies.

Stress in the construction equipment industry persists, with the six monthly average year-on-year changes in the mining index declining to 0.56% in August 2016 from 1.36% in August 2015. Also, WA 90+dpd delinquency for the 2014 vintage remained flat at 4% over the last six months, making it difficult to recover from deeper buckets. Also, the improvement observed in the core infrastructure index has not been consistent enough to support the recovery.

Tractor loans of 2014 and 2015 vintages are experiencing high delinquency levels. As of August 2016, WA 90+dpd delinquency stood at 6.45% for 2015 vintage loans, which is comparable to the loans of 2014 vintage at a similar level of seasoning. This however will have a limited impact on the transactions, because of high credit enhancement coverage on account of the significant amortisation of pass through certificates.

Ind-Ra observes a continual rise in portfolio at risk (PAR) for loans from microfinance institutions (MFI) since 1QFY17 for its rated MFI securitisations. The credit enhancement built up for Ind-Ras rated MFI securitisations has been strong, due to faster amortisation of around 50% within the first six months after issuance.

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Wim Plast advances after large bulk deal
Nov 22,2016

Meanwhile, the S&P BSE Sensex was up 56.05 points, or 0.22%, to 25,821.19

Bulk deal boosted volume on the scrip. On BSE, so far 12.23 lakh shares were traded in the counter, compared with average daily volume of 3,964 shares in the past one quarter. The stock hit a high of Rs 1,540 and a low of Rs 1,320 so far during the day. The stock hit a record high of Rs 1,660 on 8 November 2016. The stock hit a 52-week low of Rs 775.50 on 1 April 2016. The stock had outperformed the market over the past 30 days till 21 November 2016, falling 4.39% compared with the 8.23% decline in the Sensex. The scrip also outperformed the market in past one quarter, gaining 12% as against Sensexs 7.95% decline.

The small-cap company has an equity capital of Rs 12 crore. Face value per share is Rs 10.

Wim Plasts consolidated net profit rose 5.18% to Rs 9.13 crore on 4.88% fall in total income to Rs 77.69 crore in Q2 September 2016 over Q2 September 2015.

Wim Plast manufactures plastic moulded furnitures.

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Rs 67.01 Crore Sanctioned under Solar City Programme
Nov 22,2016

A total amount of Rs. 67.01 crore has been sanctioned for preparation of master plans, solar city cells, promotional activities and installation of renewable energy projects and an amount of Rs. 24.16 crore has been released, so far, under Solar City Programme. Out of 7 identified solar cities in Maharashtra, an amount of Rs. 7.74 crore has been sanctioned and an amount of Rs. 3.04 crore has been released for 6 solar cities.

 The details of sanctioned and release funds for approved solar cities are as follows:

 State-wise funds sanctioned and released to Solar Cities(Rs. in crore)

Sr. NoStates/UTsApproved Solar Cities Funds Sanctioned      Funds Released       1

Andhra Pradesh

Vijayawada

1.960.90Kakinada-- -- Narsapur Town0.50--2

Assam

Guwahati

0.450.08 Jorhat0.490.243

Arunachal Pradesh

Itanagar

0.470.164

Bihar

Gaya

-- -- 5

Chandigarh

Chandigarh

25.168.116

Chhattisgarh

Bilaspur

0.430.12Raipur0.430.127

Gujarat

Rajkot

0.930.35

Gandhinagar

0.500.14

 Surat

2.681.118

Goa

Panaji City

0.430.029

Haryana

Gurugram

0.470.07

Faridabad

0.880.2810

Himachal Pradesh

Shimla

2.931.52

Hamirpur

0.430.2711

Karnataka

 Mysore

2.020.85

Hubli-Dharwad

0.430.0212

Kerala

Thiruvananthapuram

----

Kochi

0.490.1913

Maharashtra

Nagpur

4.682.14Thane1.130.51Kalyan-Dombivli0.500.25Aurangabad0.500.08Nanded0.500.04Pune-- -- Shirdi0.430.0214

Madhya Pradesh

 Indore

----Gwalior0.500.10Bhopal 0.480.19Jabalpur-- -- Rewa 0.500.1415

Manipur

Imphal

0.490.0416

Mizoram

Aizawl

2.962.5317

Nagaland

Kohima

0.470.20 Dimapur 0.490.0418

Centrum Capital gets license to commence housing finance business
Nov 22,2016

Centrum Capital announced that it has received the Certificate of Registration from the National Housing Bank (NHB) to commence its Housing Finance business.

The Group has appointed Sanjay Shukla as MD & CEO of Centrum Housing Finance (CHFL) to lead the business, which is expected to commence operations in a couple of weeks.

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L&T slips ahead of Q2 results
Nov 22,2016

Meanwhile, the BSE Sensex was up 48.21 points, or 0.19%, to 25,813.35.

On BSE, so far 1.05 lakh shares were traded in the counter, compared with average daily volume of 2.55 lakh shares in the past one quarter. The stock hit a high of Rs 1,360 and a low of Rs 1,306.60 so far during the day. The stock hit a 52-week high of Rs 1,615 on 27 July 2016. The stock hit a 52-week low of Rs 1,016.60 on 12 February 2016. The stock had underperformed the market over the past 30 days till 21 November 2016, sliding 10.74% compared with the 8.23% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 8.63% as against Sensexs 7.95% decline.

The large-cap company has equity capital of Rs 186.47 crore. Face value per share is Rs 2.

L&T announced during trading hours today, 22 November 2016, that its construction arm has won orders worth Rs 1926 crore across its various business segments.

L&Ts consolidated net profit rose 45.5% to Rs 609.60 crore on 9.3% growth in net sales to Rs 21718.61 crore in Q1 June 2016 over Q1 June 2015.

L&T is a major Indian multinational engaged in technology, engineering, construction, manufacturing and financial services. It operates in more than 30 countries worldwide.

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Eastern Treads provides business update
Nov 22,2016

Eastern Treads announced that the Company has initiated state wise retreaders meet to educate and implement methodologies to realign with the recent likely changes due to currency demonetization and upcoming GST. The first such program was held in Kerala on 19 November 2016. Companys Kerala based franchisees have attended the program and discussed the impact of the currency demonetization and GST and the measures to be taken to ensure growth in this new regime.

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Sobha hits 52-week low after poor Q2 result
Nov 22,2016

The result was announced after market hours yesterday, 21 November 2016.

Meanwhile, the BSE Sensex was up 80.09 points, or 0.31%, to 25,845.23

On BSE, so far 9,547 shares were traded in the counter, compared with average daily volume of 13,180 shares in the past one quarter. The stock hit a high of Rs 234.05 so far during the day. The stock hit a low of Rs 224.05 in intraday trade so far, which is 52-week low for the counter. The stock hit a 52-week high of Rs 346 on 26 July 2016. The stock had underperformed the market over the past 30 days till 21 November 2016, falling 18.44% compared with the 8.23% decline in the Sensex. The scrip also underperformed the market in past one quarter, sliding 18.25% as against Sensexs 7.95% decline.

The small-cap company has equity capital of Rs 98.06 crore. Face value per share is Rs 10.

In Q2 September 2016, Sobha achieved new sales of 8.55 lakh square feet, valued at Rs 551 crore with an average realisation of Rs 6443 per square feet (Sobhas share of sale value stood at Rs 518 crore with an average realisation of Rs 6056 per square feet).

J.C. Sharma, Vice Chairman and Managing Director, Sobha said that the company has seen consistent improvement in cash flow and generated net positive operational cash flow for the past five consecutive quarters.

Sobha is a backward integrated real estate player. The company is primarily focused on residential and contractual projects.

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Panacea Biotec gains over 3% in two sessions
Nov 22,2016

The announcement was made during market hours yesterday, 21 November 2016. Shares of Panacea Biotec rose 2.32% to Rs 107.95 on that day. The stock has risen 3.32% in two trading sessions from its close of Rs 105.50 on 18 November 2016.

Meanwhile, the BSE Sensex was up 100.04 points, or 0.39%, to 25,865.18.

On BSE, so far 2,493 shares were traded in the counter, compared with average daily volume of 14,290 shares in the past one quarter. The stock hit a high of Rs 111.85 and a low of Rs 108.60 so far during the day. The stock hit a 52-week high of Rs 171.20 on 4 December 2015. The stock hit a 52-week low of Rs 83.90 on 12 February 2016. The stock had outperformed the market over the past 30 days till 21 November 2016, rising 0.47% compared with the 8.23% decline in the Sensex. The scrip had also outperformed the market in past one quarter, falling 1.51% as against Sensexs 7.95% decline.

The small-cap company has equity capital of Rs 6.13 crore. Face value per share is Rs 1.

Panacea Biotec has state-of-the-art pharmaceutical formulation facility located at Baddi for oral solids and oncology parenteral formulations. The company has been supplying products in US markets for approved abbreviated new drug applications (ANDAs) manufactured in oral solids dosage facility. A number of ANDAs submitted by the company, referring these facilities, are also at various stages of approval by the United States Food and Drug Administration (USFDA).

Panacea Biotec reported net loss of Rs 11.84 crore in Q2 September 2016, lower than net loss of Rs 17 crore in Q2 September 2015. Net sales declined 18.3% to Rs 131.56 crore in Q2 September 2016 over Q2 September 2015.

Panacea Biotec is one of Indias leading research based health management companies with established research, manufacturing and marketing capabilities. It is one of the largest vaccine producers in India and is one of the leading biotechnology companies.

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Tata Communications forms partnership with Emirates Data Clearing House
Nov 22,2016

Tata Communications and Emirates Data Clearing House (EDCH), a regional leader in roaming solutions and seamless settlements announced a bilateral partnership for mutual business cooperation in their data and financial clearing forte offerings to mobile network operators across the globe.

This partnership will enable Tata Communications to provide a more robust portfolio of solutions as an integrated mobility service provider with its existing range of innovative solutions. EDCH will in turn expand their geographical avenues significantly towards global markets with an enhanced roaming and mobility management portfolio. The collaboration will allow both companies to enhance value and deliver a superior experience to new and existing customers.

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Thomas Cook (India) opens Gold Circle Partner Outlet
Nov 22,2016

Thomas Cook (India) announced the opening of a new Gold Circle Partner Outlet in Bikaner. With this, the Companys network in Rajasthan extends to 10 locations across the State.

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Vardhman Special Steels grants stock options
Nov 22,2016

Vardhman Special Steels announced that the Nomination and Remuneration Committee in its meeting held on 12 November 2016 has approved to grant 2,10,000 Employee Stock Options to the eligible employees under Vardhman Special Steels Limited Employee Stock Option Plan 2016, exercisable into not more than 2,10,000 fully paid-up equity shares in the Company in aggregate of face value of INR10 (Rupees Ten) each.

Further the Company has informed that, this is the First Grant under Vardhman Special Steels Limited Employee Stock Option Plan 2016.

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Vedanta firms up ahead of board meeting
Nov 22,2016

Meanwhile, the BSE Sensex was up 119.70 points, or 0.46%, to 25,884.84.

On BSE, so far 4.06 lakh shares were traded in the counter, compared with average daily volume of 11.33 lakh shares in the past one quarter. The stock hit a high of Rs 204.85 and a low of Rs 199.10 so far during the day. The stock hit a 52-week high of Rs 233.65 on 10 November 2016. The stock hit a 52-week low of Rs 58.10 on 12 February 2016. The stock had outperformed the market over the past 30 days till 21 November 2016, falling 3.10% compared with the 8.23% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 13.15% as against Sensexs 7.95% decline.

The large-cap company has equity capital of Rs 296.47 crore. Face value per share is Re 1.

On a consolidated basis, Vedantas net profit rose 17.14% to Rs 1252.13 crore on 4.13% decline in net sales to Rs 15665.64 crore in Q2 September 2016 over Q2 September 2015.

Vedanta is a diversified natural resources company, whose business primarily involves producing oil & gas, zinc - lead - silver, copper, iron ore, aluminium and commercial power. The company has a presence across India, South Africa, Namibia, Australia and Ireland.

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