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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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TCS ranked Leader in Informative Services Segement
Aug 29,2016

Tata Consultancy Services announced that it has been recognised in the leadership zones across several segments in the Zinnov Global Media & Entertainment Services Providers Landscape Study. TCS is the leading company in the information services segment and highly ranked in the Leadership Zones of the Education, Publishing, Broadcasting and Entertainment sectors.

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Promoting coastal shipping in India under Sagarmala: Ministry enlarges the scope of Central Sector Scheme
Aug 29,2016

The Ministry of Shipping has formulated a revised Central Sector Scheme to provide financial support to Major/ Non-Major Ports/ State Governments for creation of infrastructure for movement of cargo/ passenger by sea or National Waterways. This is in line with the Ministrys port-led- development programme-Sagarmala for creating better infrastructure and promoting costal shipping for saving logistic costs.

Under the Scheme, projects for construction/ up-gradation of exclusive coastal berths for coastal cargo and berths/jetties for passenger ferries; mechanization of coastal berths; capital dredging for operating non-major ports; construction of breakwaters for existing & Greenfield Non-major ports; construction of berths/ jetties in National Waterways and islands by State Governments/UT; and construction of platforms/ jetties for hovercrafts/seaplanes will be considered for assistance.

Financial assistance under the revised scheme would be given up to 50% of the total cost of the project, subject to following, while the balance cost will have to be borne by respective ports/concerned State Govt. from their internal/own resources.

a) a maximum of ₹25 Crore in case of construction/ up-gradation of exclusive coastal berths for coastal cargo and passengers in ports water

b) a maximum of ₹10 Crore for construction of platforms / jetties, National Waterways and islands

c) a maximum of ₹15 Crore in case of Mechanisation of coastal berth

d) a maximum of ₹50 Crore in case of capital dredging for operating non-major ports

e) a maximum of ₹50 Crore in case of construction of breakwater for existing and Greenfield Non-Major Ports.

The main objective of the revised scheme is to promote coastal shipping and increase its share in domestic cargo movement, which is currently only as low as 7%, compared to other developed countries in Europe and Asia. Better infrastructure for coastal shipping in terms of handling facilities will decongest rail and road network as well as ensure cost competitive and effective multi-modal transportation solution. The country has high potential to use coastal shipping for its internal cargo movement given its 7500 kms long coastline. The National Perspective Plan of Sagarmala envisions the potential to save around INR 21000-27000 Crore through coastal shipping of 230-280 MMTPA of key commodities like coal, cement, fertilizers, iron & steel, food grains and POL by 2025.

Under the scheme, the creation of exclusive berths for coastal shipping and its mechanization will reduce waiting time for coastal vessels resulting in reduced cost. The capital dredging and construction of breakwaters shall help in smoother navigation of large vessels into the ports and thus facilitate development of existing and Greenfield ports. With coastal shipping being more environment friendly mode of transport compared to rail and road, it would also help in reducing pollution.

The revised scheme brings appropriate synergy & convergence with the Sagarmala Programme which too aims at promoting coastal shipping along with port modernization and new port development, port connectivity enhancement, port-led industrial development and coastal community development. The revised scheme is also in conformity with Plan Priorities and National objectives of the Government as in the 12th Five Year Plan which emphasises on the need for incentivizing coastal shipping.

The financial assistance (grant-in-aid) given under the Scheme will be subject to audit by the CAG of India. The revised scheme has been released on the website of Ministry of Shipping

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Rupee plunges on dollars strength
Aug 29,2016

Rupee closed lower on Monday (29 August 2016) at 67.1660/1860 per dollar, versus its previous close of 67.0575/0675 per dollar last Friday.

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TD Power Systems secures order for supply of railway application generations
Aug 29,2016

TD Power Systems announced that an order for supply of 45 railway application generators has been received from a major multi-national company for installation in North America. The supplies under this order would be completed between January 2017 & April 2017.

This is an outcome of the successful trial run of 5 generators supplied earlier in February 2016 to the same customer. TDPS expects volumes to grow from this business in the forthcoming financial years.

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Outcome of board meeting of Chankya Investments
Aug 29,2016

Chankya Investments announced that the Board of Directors of the Company at its meeting held on 29 August 2016 approved the following -

Change in Name of the Company to Antariksh Industries or any other such name as may be approved by the RoC subject to approval of shareholders.

Appointment of Bhagwanji Narsi Patel and Utkarsh Anil Goyal as a Additional Director of the Company.

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Board of eClerx Services approves proposal for buyback of shares up to Rs 234 cr
Aug 29,2016

eClerx Services announced that the Board of Directors of the Company at its meeting held on 29 August 2016, inter-alia, unanimously approved, the following:-

1. Appointed M/s. Mehta & Mehta, Company Secretaries, as the Secretarial Auditor of the Company for financial year 2016-17.

2. Approved a proposal for Buyback of Equity Shares of the Company, subject to approval by the shareholders, for an aggregate amount not exceeding Rs. 234 crore (Rupees Two Hundred and Thirty Four Crores only) (hereinafter referred to as the n++Maximum Buyback Sizen++) and being within 25% of the total paid-up equity capital and free reserves of the Company as on 31 March 2016 (being the date of the last audited accounts of the Company), at a price not exceeding Rs. 2,200 (Rupees Two Thousand Two Hundred only) per Equity Share (hereinafter referred to Maximum Buyback Price) from all existing shareholders of the Company on the record date fixed for the said purpose, on a proportionate basis through n++Tender Offern++ route in accordance with the provisions contained in the Securities and Exchange Board of India (Buy Back of Securities) Regulations, 1998 (n++Buyback Regulations) (including any statutory modification(s) or re-enactment of the Act or Buyback Regulations, for the time being in force) and the Companies Act, 2013 and rules made thereunder. The Maximum Buyback Size, excludes transaction costs viz. brokerage, applicable taxes such as securities transaction tax, service tax, stamp duty etc. (Transaction Costs). At Maximum Buyback Price, the buyback translates into approximately 1,068,182 Equity Shares of the Company, representing about 2.62% of the total paid up equity share capital of the Company, as on 31 March 2016.

The Board noted the intention of the promoters and promoter group of the Company to participate in the proposed Buyback.

The proposed Buyback is subject to approval of the shareholders of the Company, by way of a special resolution through postal ballot (including e-voting) pursuant to Section 110 of the Companies Act, 2013 read with Rules framed thereunder and all other applicable statutory approvals. Once approved by shareholders, the public announcement setting out the process, final buyback price and number of shares, timelines and other statutory details will be released in due course in accordance with the Buyback Regulations.

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Artson Engineering bags new order worth Rs 24.43 crore
Aug 29,2016

Artson Engineering has received a Letter of Award from Mumbai Aviation Fuel Farm Facility (MAFFFPL) at a total price of Rs 24.43 crore for Design, Fabrication, Erection and Testing of 5 Nos. Fixed Cone Roof Storage Tanks.

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Outcome of board meeting of Gradiente Infotainment
Aug 29,2016

Gradiente Infotainment announced that the Board of Directors of the Company at its meeting held on 29 August 2016 approved the following -

Raising funds by way of preferential allotment of equity shares to the Promoters and the Non-Promoters.

In addition to the above, the Board also considered the proposal of expansion of business into e-commerce and digital media etc., which requires funding of Rs 50 crore, of which Rs 10 crore will be raised by way of preferential allotment to Ceran International Energy, Germany and the balance will be raised through follow on public issue.

The Board in-principle approved the proposal to set up a Joint Venture/ Subsidiary with Ceran International Energy, Germany.

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Jolly Merchandise to hold AGM
Aug 29,2016

Jolly Merchandise announced that the th Annual General Meeting(AGM) of the company on 30 September 2016.

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Board of Cyient recommends special dividend
Aug 29,2016

Cyient announced that the Board of Directors of the Company at its meeting held on 29 August 2016, inter alia, have recommended the special dividend of Rs 2.5 per equity Share (i.e. 50%) , subject to the approval of the shareholders.

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Total Hospitality to hold AGM
Aug 29,2016

Total Hospitality announced that the th Annual General Meeting(AGM) of the company on 30 September 2016.

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MFL India to hold board meeting
Aug 29,2016

MFL India will hold a meeting of the Board of Directors of the Company on 4 September 2016.

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Dhanuka Commercial to hold EGM
Aug 29,2016

Dhanuka Commercial announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 24 September 2016 .

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Rathi Bars to hold board meeting
Aug 29,2016

Rathi Bars will hold a meeting of the Board of Directors of the Company on 5 September 2016.

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Nilkanth Engineering to hold board meeting
Aug 29,2016

Nilkanth Engineering will hold a meeting of the Board of Directors of the Company on 1 September 2016.

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