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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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Board of Uttam Value Steels to consider conversion of loan under SDR
Dec 20,2016

Uttam Value Steels announced that meeting of the Board of Directors of the Company is scheduled to be held on 23 December 2016, for the purpose of conversion of loan into equity shares to the lenders under Strategic Debt Restructuring (SDR) circular of RBI as per the decision of Joint Lenders Forum (JLF) of the Company through preferential route in terms of SEBI guideline and to obtain the approval from the shareholders to convert loan into equity shares and such other alied matters.

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Board of Bajaj Hindusthan Sugar approves sale of Co-Gen power business
Dec 20,2016

Bajaj Hindusthan Sugar announced that the Board of Directors of the Company at its meeting held on 20 December 2016, inter alia, considered approval of sale and transfer of Co-generation power business of aggregating capacity of 449 MW located at 14 locations to Lalitpur Power Generation Company (LPGCL), a group Company for a lumpsum consideration in cash of approximately Rs. 1800 crore, as a going concern on slump sale basis in accordance with the Business Transfer Agreement to be entered into with LPGCL.

Entire amount of Cash consideration is proposed to be utilised by Bajaj Hindusthan Sugar towards advance repayment of its existing term debt. The proposed sale and transfer of Co-Gen power business will be subject to approval of members, lenders and all other statutory /regulatory authorities.

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Board of Zensar Technologies approves change in CFO
Dec 20,2016

Zensar Technologies announced that the Board of Directors has, at its meeting held on 20 December 2016, approved the appointment of Manoj Jaiswal as Chief Financial Officer (CFO) of the Company with effect from 16 January 2017 in place of the current CFO S. Balasubramaniam who demits office as a CFO on superannuation.

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Zensar Technologies allots equity shares
Dec 20,2016

Zensar Technologies announced that on exercise of Stock Option by Employees of the Company, the Nomination and Remuneration Committee of the Directors has on 20 December 2016 allotted fully paid up 1,500 Equity Shares of Rs. 10/- each of the Company to its employee.

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Board of D S Kulkarni Developers approves change in directors
Dec 20,2016

D S Kulkarni Developers announced that the Board of Directors of the Company at its meeting held on 20 December 2016 approved the following -

Appointment of Dr Vijaykumar Jagtap as an Additional Director and Independent Director of the Company with effect from 20 December 2016.

Resignation of Uma Anil Panse as an Additional Director and a Woman Independent Director of the Company with effect from 20 December 2016.

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Mercator secures time charter contract
Dec 20,2016

Mercator announced that one of the Companys vessels has secured a time charter contract of total value of about Rs. 120 crore. The period of contract is 4 years (inclusive of Charterers options) and the Charter will commence from January, 2017.

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Jubilant Life Sciences increases price of Beta Picoline, 3-Cyanopyridine and Vitamin B3
Dec 20,2016

Jubilant Life Sciences announced a price increase of up to 15% for its Beta Picoline, 3-Cyanopyridine and Vitamin B3 (Niacin & Niacinamide) with immediate effect, for non-contract customers and wherever existing contracts permit.

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Jubilant Life Sciences slips after hiking prices of select products
Dec 20,2016

The announcement was made during trading hours today, 20 December 2016.

Meanwhile, the BSE Sensex was down 66.47 points, or 0.25%, to 26,308.23.

On the BSE, so far 93,000 shares were traded in the counter, compared with average daily volumes of 1.52 lakh shares in the past one quarter. The stock had hit a high of Rs 626.75 and a low of Rs 595 so far during the day.

The stock hit a record high of Rs 726.40 on 1 December 2016. The stock hit a 52-week low of Rs 272.50 on 20 January 2016. The stock had underperformed the market over the past 30 days till 19 December 2016, falling 1.44% compared with the 0.86% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 5.02% as against Sensexs 7.53% decline.

The mid-cap company has equity capital of Rs 15.93 crore. Face value per share is Re 1.

Jubilant Life Sciences announced a price increase of up to 15% for its Beta Picoline, 3-Cyanopyridine and vitamin B3 (Niacin & Niacinamide) with immediate effect, for non-contract customers and wherever existing contracts permit.

On a consolidated basis, net profit of Jubilant Life Sciences rose 14.52% to Rs 144.77 crore on 5.16% decline in net sales to Rs 1359.70 crore in Q2 September 2016 over Q2 September 2015.

Jubilant Life Sciences is an integrated global pharmaceutical and life sciences company engaged in pharmaceuticals, life science ingredients and drug discovery solutions.

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Supreme Holdings & Hospitality announces change in directorate
Dec 20,2016

Supreme Holdings & Hospitality announced that Prateek Jatia has resigned as Executive Director & Director with effect from 19 December 2016. Prateek Jatia has cited personal reasons for his stepping down.

However, Prateek Jatia will continue to serve as CFO of the Company.

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Bhageria Industries provides update on solar power project in Ahmednagar
Dec 20,2016

Bhageria Industries has competed the financial tie up of a loan of Rs. 95 crore from Export Import Bank of India (EXIM Bank) on the terms and conditions as per their sanction letter dated 06 December 2016 and approved by the Board of Directors at its meeting held at companys Registered office on 20 December 2016, for companys 30 MW Solar Power Project being setup at Ahmednagar in Maharashtra and the Loan/Facilities documentation are being executed with the lender for this purpose.

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Bajaj Hindusthan Sugar gains on plan to sell co-gen power operation
Dec 20,2016

The announcement was made during trading hours today, 20 December 2016.

Meanwhile, the BSE Sensex was down 42.41 points, or 0.16%, to 26,332.29.

On the BSE, so far 11.81 lakh shares were traded in the counter, compared with average daily volumes of 3.41 lakh shares in the past one quarter. The stock had hit a high of Rs 14.74 and a low of Rs 13.05 so far during the day.

The stock hit a 52-week high of Rs 24.20 on 13 June 2016. The stock hit a 52-week low of Rs 12.65 on 12 February 2016. The stock had underperformed the market over the past 30 days till 19 December 2016, falling 10.27% compared with the 0.86% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 24.03% as against Sensexs 7.53% decline.

The small-cap company has equity capital of Rs 113.36 crore. Face value per share is Re 1.

Bajaj Hindusthan Sugar said that the board of directors of the company at its meeting held on 20 December 2016, considered approval of sale and transfer of co-generation power business of aggregating capacity of 449 megawatts (MW) located at 14 locations to Lalitpur Power Generation Company (LPGCL), a group company for a lumpsum consideration in cash of approximately Rs 1800 crore, as a going concern on slump sale basis in accordance with the business transfer agreement to be entered into with LPGCL.

Entire amount of cash consideration is proposed to be utilised by Bajaj Hindusthan Sugar towards advance repayment of its existing term debt. The proposed sale and transfer of co-generation power business will be subject to approval of members, lenders and all other statutory /regulatory authorities, the company said in a statement.

Bajaj Hindusthan Sugar reported net loss of Rs 137.71 crore in Q2 September 2016 as against net loss of Rs 280.17 crore in Q2 September 2015. Net sales rose 13% to Rs 850.08 crore in Q2 September 2016 over Q2 September 2015.

Bajaj Hindusthan Sugar is a sugar and ethanol manufacturing company.

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MIC Electronics secures patent for its solar rechargeable LED lantern
Dec 20,2016

MIC Electronics announced that the Company have been granted a patent by the Controller General of Patents, Designs & Trademarks, Intellectual Property of India, for an invention entitled SOLAR RECHARGEABLE LED LANTERN for a period of 20 years commencing from 25th day of August, 2008.

This Solar LED product is a portable one embedded with multiple applications. Highly advantageous for rural habitants.

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Pennar Engineered Building Systems approves appointment of director
Dec 20,2016

Pennar Engineered Building Systems announced that the Board of Directors of the Company have passed the following resolutions by circulation on 14 December 2016:

1. Approval for Appointment of Eric James Brown as an Additional Director

2. Increase of Initial Public Offer (IPO) Expenses

3. Approval of the Postal Ballot exercise for the following resolutions

a) Appointment of Eric James Brown as Director for consideration of Shareholders
b) Appointment of Eric James Brown as Independent Director
c) Increase of Initial Public Offer Expenses
d) Serve the documents on members pursuant to section 20 of the Companies Act 2013.

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Mercator advances after new order win
Dec 20,2016

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 today, 20 December 2016.

Meanwhile, the S&P BSE Sensex was down 91.42 points or 0.35% at 26,283.28

On the BSE, 4.15 lakh shares were traded on the counter so far as against average daily volumes of 4.59 lakh shares in the past one quarter. The stock hit a high of Rs 41 and a low of Rs 38 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 19 December 2016, rising 4.39% compared with the 0.86% rise in the Sensex. The scrip, however, underperformed the market in past one quarter, sliding 22.98% as against Sensexs 7.53% decline.

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

Mercator reported net loss of Rs 26.47 crore in Q2 September 2016 compared with net profit of Rs 14.57 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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Hindusthan Urban Infrastructure gets assigned ratings for bank facilities
Dec 20,2016

Hindusthan Urban Infrastructure has been assigned the following ratings by CARE -

Long term bank facilities (Rs 157.52 crore) - CARE BBB
Long term/ short term bank facilities (Rs 401.15 crore) - CARE BBB/ CARE A2

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