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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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Insolvency and Bankruptcy Board (IBBI) of India notifies two Regulations
Nov 23,2016

The Insolvency and Bankruptcy Board of India (IBBI), in exercise of its powers conferred under section 240 of the Insolvency and Bankruptcy Code, 2016, has notified the following two regulations yesterday:

n++ The Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) Regulations, 2016, and

n++ The Insolvency and Bankruptcy Board of India (Insolvency Professional Agencies) Regulations, 2016.

These two regulations inter alia provide for the eligibility norms to be a Professional Member of an Insolvency Professional Agency and also for eligibility norms to be registered with the IBBI as an Insolvency Professional Agency.

A company registered under Section 8 of the Companies Act, 2013 with a minimum net worth of Rs. 10 crore shall be eligible to be an Insolvency Professional Agency. More than half of the Directors of its Board shall be independent directors and not more than one fourth of the Directors shall be insolvency professionals. It shall have Membership Committee(s), Monitoring Committee, Grievance Redressal Committee(s), and Disciplinary Committee(s) for regulation and oversight of professional members.

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NIITs managaged training services contract gets 4 year extension
Nov 23,2016

NIIT announced that its current managed training services contract with a global pharmaceutical company headquartered in West London, UK has been extended for a further 4 years. The client is one of the worlds largest science led healthcare companies that researches and develops a board range of innovative product in three primary areas of pharmaceuticals, vaccines and consumer healthcare.

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Lupin gains after tentative approval from USFDA for Epzicom generic
Nov 23,2016

The announcement was made during market hours today, 23 November 2016.

Meanwhile, the BSE Sensex was up 51.06 points, or 0.20%, to 26,011.84.

On BSE, so far 38,000 shares were traded in the counter, compared with average daily volume of 1.04 lakh shares in the past one quarter. The stock hit a high of Rs 1,447.90 and a low of Rs 1,417.10 so far during the day. The stock hit a 52-week high of Rs 1,911.55 on 9 February 2016. The stock hit a 52-week low of Rs 1,294.05 on 29 March 2016. The stock had outperformed the market over the past 30 days till 22 November 2016, falling 7.59% compared with the 7.87% decline in the Sensex. The scrip had also outperformed the market in past one quarter, falling 7.08% as against Sensexs 7.48% decline.

The large-cap company has equity capital of Rs 90.25 crore. Face value per share is Rs 2.

Lupin announced that it has received tentative approval from the United States Food and Drug Administration (USFDA) to market a generic version of ViiV Healthcare Companys Epzicom Tablets, 600 mg/300 mg.

Lupins Abacavir Sulfate and Lamivudine Tablets, 600 mg/300 mg are the AB rated generic equivalent of ViiV Healthcare Companys Epzicom Tablets, 600 mg/300 mg. Abacavir Sulfate and Lamivudine Tablets, 600 mg/300 mg in combination with other antiretroviral agents is indicated for the treatment of human immunodeficiency virus type 1 (HIV-1) infection. Epzicom Tablets had US sales of $426 million as per IMS MAT September 2016 data.

Lupins consolidated net profit jumped 57.8% to Rs 662.19 crore on 31.9% rise in net sales to Rs 4211.18 crore in Q2 September 2016 over Q2 September 2015.

Lupin is an innovation led transnational pharmaceutical company developing and delivering a wide range of branded & generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) globally. The company is a significant player in the cardiovascular, diabetology, asthma, pediatric, central nervous system (CNS), GI, Anti-Infective and NSAID space and holds global leadership position in the Anti-TB segment.

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534 Pradhan Mantri Jan Aushadhi Kendras functioning in 26 States/UTs
Nov 23,2016

With a view to achieving the objective of making available quality medicines at affordable prices, the Government has been taking several regulatory and fiscal measures from time to time. In order to provide further relief to the common man in the area of healthcare, a countrywide campaign for ensuring availability of quality generic medicines at affordable prices to all, in the name of n++Pradhan Mantri Jan Aushadhi Yojanan++ (PMJAY) has been started. As on date, there are 534 Pradhan Mantri Jan Aushadhi Kendras (PMJAK) functioning over 26 States/UTs. The PMJAY is being implemented by the Bureau of Pharma PSUs of India (BPPI).

The Medical Council of India has amended the Indian Medical Council (Professional Conduct, Etiquette and Ethics) Regulations, 2002 on 08 October 2016 to provide a new para 1.5 regarding use of generic names of drugs which provides as under:

n++Every physician should prescribe drugs with generic names legibly and preferably in capital letters and he/she shall ensure that there is a rational prescription and use of drugs.n++

As on date, 226 Pradhan Mantri Jan Aushadhi Kendras (PMJAK) have been opened in State run hospitals, Medical Colleges and other Government hospitals.

Indian Medical Association and Indian Medical Council are supporting PMJAY to promote the use of generic medicines. Medical Council of India has amended the code to promote the use of generic medicines.

Generic version of each medicine is available in the market except patented medicines. The Government companies which are manufacturing generic medicines are : Indian Drugs & Pharmaceuticals Limited (IDPL), Rajasthan Drugs & Pharmaceuticals Limited (RDPL), Hindustan Antibitoics Limited (HAL), Karnataka Antibiotics & Pharmaceuticals Limited (KAPL) and Bengal Chemicals & Pharmaceuticals Limited (BCPL).

BPPI is buying generic medicines from private companies also through open tendering process for Pradhan Mantri Jan Aushadhi Yojana. Presently, more than 100 private manufacturers are providing generic medicines to Pradhan Mantri Jan Aushadhi Yojana (PMJAY).

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Gravity grips Sunil Hitech Engineers after bulk deal
Nov 23,2016

Meanwhile, the S&P BSE Sensex was up 64.63 points or 0.25% at 26,025.41

Bulk deal boosted volume on the scrip. On BSE, so far 28.70 lakh shares were traded in the counter as against average daily volume of 2.51 lakh shares in the past one quarter. The stock hit a high of Rs 184 and a low of Rs 166.65 so far during the day. The stock had hit a record high of Rs 468.65 on 20 October 2016. The stock had hit a 52-week low of Rs 155 on 24 June 2016. The stock had underperformed the market over the past 30 days till 22 November 2016, sliding 59.85% compared with the 7.87% decline in the Sensex. The scrip, however, outperformed the market in past one quarter, falling 6.28% as against Sensexs 7.48% decline.

The small-cap company has equity capital of Rs 18.90 crore. Face value per share is Rs 10.

Sunil Hitech Engineers net profit rose 39.74% to Rs 14.84 crore on 19.6% growth in net sales to Rs 496.91 crore in Q2 September 2016 over Q2 September 2015.

Sunil Hitech Engineers is an engineering, procurement & construction (EPC) company.

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Board of Western India Cottons appoints director
Nov 23,2016

The Board of Directors of Western India Cottons at its meeting held on 12 November 2016 has appointed A K Shereif as an Independent Director with effect from 12 November 2016 for a period of five years.

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JK Lakshmi Cement gains on bargain hunting
Nov 23,2016

Meanwhile, the BSE Sensex was up 64.85 points, or 0.25%, to 26,025.63.

On BSE, so far 3,735 shares were traded in the counter, compared with average daily volume of 20,864 shares in the past one quarter. The stock hit a high of Rs 364.30 and a low of Rs 347.50 so far during the day. The stock hit a record high of Rs 513.75 on 6 October 2016. The stock hit a 52-week low of Rs 253 on 12 February 2016. The stock had underperformed the market over the past 30 days till 22 November 2016, falling 31.31% compared with the 7.87% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 23.22% as against Sensexs 7.48% decline.

The mid-cap company has equity capital of Rs 58.84 crore. Face value per share is Rs 5.

Shares of JK Lakshmi Cement fell 22.44% in seven trading sessions to settle at Rs 347.05 yesterday, 22 November 2016, from its close of Rs 447.45 on 10 November 2016.

JK Lakshmi Cement reported net profit of Rs 24.91 crore in Q2 September 2016 as against net loss of Rs 8.38 crore in Q2 September 2015. Net sales rose 1.52% to Rs 655.57 crore in Q2 September 2016 over Q2 September 2015.

JK Lakshmi Cement manufactures cement, which it sells under the brand name JK Lakshmi.

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BGR Energy Systems secures contract valued at Rs 2788.60 crore
Nov 23,2016

BGR Energy Systems announced that the Company has received a Letter of Award from Neyveli Uttar Pradesh Power (NUPPL) for BoP contract for the 3 x 660MW - Super Critical Ghatampur Thermal Power Project, Uttar Pradesh. The total lump sum price of the contract is Rs.2788.60 crore.

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Allahabad Bank gets ratings downgrade for bonds
Nov 23,2016

Allahabad Bank announced that CRISIL has downgraded its ratings on the banks Lower Tier II Bonds (Under Basel II) and Tier II Bonds (under Basel III) to CRISIL AA-/ Negative from CRISIL AA/ Negative, Tier I - Perpetual Bonds and Upper Tier II Bonds (hybrid instruments under Basel II) to CRISIL A+/ Negative from CRISIL AA-/ Negative, and Tier I bond issue (under Basel III) to CRISIL A-/ Negative from CRISIL A/ Negative.

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Lupin receives tentative approval for Sulfate and Lamivudine Tablets
Nov 23,2016

Lupin has received tentative approval for its Abacavir Sulfate and Lamivudine Tablets, 600 mg/ 300 mg from United States Food and Drug Administration to market a generic version of Viva Healthcare Companys Epzicom Tablets, 600 mg/ 300 mg.

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Wockhardt drops after USFDA issues warning letter to C P Pharmaceuticals
Nov 23,2016

The announcement was made during market hours today, 23 November 2016.

Meanwhile, the S&P BSE Sensex was down 46.39 points or 0.18% at 25,914.39

On BSE, so far 2.27 lakh shares were traded in the counter as against average daily volume of 2.93 lakh shares in the past one quarter. The stock hit a high of Rs 685 so far during the day. The stock hit a low of Rs 659 in intraday trade so far, which is 52-week low for the counter. The stock had hit a 52-week high of Rs 1,748.20 on 2 December 2015. The stock had underperformed the market over the past 30 days till 22 November 2016, sliding 22.08% compared with the 7.87% decline in the Sensex. The scrip also underperformed the market in past one quarter, falling 14.13% as against Sensexs 7.48% decline.

The mid-cap company has equity capital of Rs 55.27 crore. Face value per share is Rs 5.

Wockhardt said that currently, there is no business being conducted from C P Pharmaceuticals to the US Market. C P Pharmaceuticals has already initiated required steps to address the concerns raised by US Food and Drug Administration (USFDA) and will be responding to the agency within the prescribed time, Wockhardt said.

Wockhardts consolidated net profit fell 81.59% to Rs 17.02 crore on 10.05% decline in total income to Rs 1084.59 crore in Q2 September 2016 over Q2 September 2015.

Wockhardt is a research based and technology intensive global pharmaceutical and biotechnology company.

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Board of Ushdev International discussed classification of its loan account as NPA by banks
Nov 23,2016

Ushdev International announced that the Board Meeting of the Company was held on 22 November 2016. The Board of Directors at the Board Meeting of the Company discussed that few Banks have declared the loan account of the Company as Non Performing Asset and India Ratings and Research Private has revised the rating of the Company. The Board discussed in length and the Company is working on a suitable solution.

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Board of Ushdev International discuss classification of its loan account as NPA by banks
Nov 23,2016

Ushdev International announced that the Board Meeting of the Company was held on 22 November 2016. The Board of Directors at the Board Meeting of the Company discussed that few Banks have declared the loan account of the Company as Non Performing Asset and India Ratings and Research Private has revised the rating of the Company. The Board discussed in length and the Company is working on a suitable solution.

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Intellect Design Arena gets assigned credit ratigns
Nov 23,2016

Intellect Design Arena announced that CRISIL, vide its letter dated 22 November 2016, has assigned credit rating of :

a) BBB+/ Stable rating for Long Term Loans, and

b) CRISIL A2 for Short Term Loans.

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A2Z Infra Engineering jumps as subsidiary to settle various debts
Nov 23,2016

Meanwhile, the BSE Sensex was down 48.70 points, or 0.19%, to 25,912.08.

On BSE, so far 5.83 lakh shares were traded in the counter, compared with average daily volume of 2.50 lakh shares in the past one quarter. The stock hit a high of Rs 41.40 and a low of Rs 38.60 so far during the day. The stock hit a 52-week high of Rs 51.65 on 1 November 2016. The stock hit a 52-week low of Rs 16.50 on 12 February 2016. The stock had outperformed the market over the past 30 days till 22 November 2016, falling 2.82% compared with the 7.87% decline in the Sensex. The scrip had also outperformed the market in past one quarter, falling 2.82% as against Sensexs 7.48% decline.

The small-cap company has equity capital of Rs 129.62 crore. Face value per share is Rs 10.

A2Z Infra Engineering informed that its subsidiary, A2Z Green Waste Management (A2Z Green), has on 19 November 2016, agreed to a framework with one of its lenders for a settlement of its various debt obligation aggregating to Rs 416.18 crore.

The settlement may include the transfer of two projects of A2Z Green namely: a 500 tonne per day (TPD) of processing and disposal unit for the purposes of municipal solid waste management at Indore city; and a 1500 TPD of P&D unit, collection & transportation facility of municipal solid waste along with 15 megawatts (MW) power plant, located in Kanpur city.

The settlement would be subject to execution of definitive agreement(s) and further subject to various requisite approval(s) of its stake holders including shareholders and lenders as may be required.

Shares of A2Z Infra Engineering surged 12.80% to Rs 37.90 yesterday, 22 November 2016, after the company said that a contract has been awarded to the company by Chhattisgarh State Power Transmission Company for construction of 132 kilovolt S/S Bijapur and associated EHV Line on turnkey basis. The aggregate value of the contract is Rs 41.33 crore. The announcement was made during market hours yesterday, 22 November 2016.

The stock has risen 19.35% in two trading sessions from its close of Rs 33.60 on Monday, 21 November 2016.

A2Z Infra Engineering reported a net loss of Rs 18.75 crore in Q1 June 2016, lower than net loss of Rs 34.21 crore in Q1 June 2015. Net sales surged 148.5% to Rs 202.70 crore in Q1 June 2016 over Q1 June 2015.

A2Z Infra Engineering (formerly known as A2Z Maintenance & Engineering Services) is a fast growing, fully integrated electrical business group (EBG) in India catering to the needs of domestic and international power sector clients in building distribution and transmission infrastructure.

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