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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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Commercial Synbags to hold AGM
Aug 31,2016

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

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Polygenta Technologies to hold AGM
Aug 31,2016

Polygenta Technologies announced that the 34th Annual General Meeting(AGM) of the company on 27 September 2016.

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ABG Shipyard to hold AGM
Aug 31,2016

ABG Shipyard announced that the th Annual General Meeting(AGM) of the company on 19 September 2016.

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Sikozy Realtors to hold board meeting
Aug 31,2016

Sikozy Realtors will hold a meeting of the Board of Directors of the Company on 6 September 2016 to decide the date of Annual General Meeting of the company.

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Cabinet approves grant of Permanent Residency Status to Foreign Investors
Aug 31,2016

The Union Cabinet under the Chairmanship of Prime Minister Shri Narendra Modi has approved the scheme for grant of Permanent Residency Status (PRS) to foreign investors subject to the relevant conditions as specified in the FDI Policy notified by the Government from time to time.

The scheme is expected to encourage foreign investment in India and facilitate Make in India Programme. Under the Scheme, suitable provisions will be incorporated in the Visa Manual to provide for the grant of PRS to foreign investors.

The PRS will be granted for a period of 10 years with multiple entry. This can be reviewed for another 10 years if the PRS holder has not come to adverse notice. The scheme will be applicable only to foreign investors fulfilling the prescribed eligibility conditions, his/her spouse and dependents. In order to avail this scheme, the foreign investor will have to invest a minimum of Rs. 10 crores to be brought within 18 months or Rs.25 crores to be brought within 36 months. Further, the foreign investment should result in generating employment to at least 20 resident Indians every financial year.

Permanent Residency Status will be granted for a period of 10 years initially with multiple entry facility, which can be renewed for another 10 years. PRS will serve as a multiple entry visa without any stay stipulation and PRS holders will be exempted from the registration requirements. PRS holders will be allowed to purchase one residential property for dwelling purpose. The spouse/ dependents of the PRS holder will be allowed to take up employment in private sector (in relaxation to salary stipulations for Employment Visa) and undertake studies in India.

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Crompton Greaves gains nearly 5% in two sessions
Aug 31,2016

Meanwhile, the BSE Sensex was up 162.65 points, or 0.57%, to 28,505.66.

On BSE, so far 11.39 lakh shares were traded in the counter, compared with average daily volume of 5.92 lakh shares in the past one quarter. The stock hit a high of Rs 85.45 and a low of Rs 82.50 so far during the day. The stock hit a 52-week high of Rs 88.65 on 18 August 2016. The stock hit a 52-week low of Rs 38.79 on 12 February 2016. The stock had outperformed the market over the past 30 days till 30 August 2016, rising 4.59% compared with 1.21% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 20.16% as against Sensexs 6.10% rise.

The mid-cap company has equity capital of Rs 125.35 crore. Face value per share is Rs 2.

Shares of Crompton Greaves rose 1.93% to settle at Rs 81.95, yesterday 30 August 2016, on the back of improved Q1 results. The result was announced during trading hours. The stock has risen 4.98% in two trading sessions from its close of Rs 80.40 on Monday, 29 August 2016.

Crompton Greaves reported consolidated net loss of Rs 9.51 crore in Q1 June 2016, lower than net loss of Rs 62.20 crore in Q1 June 2015. Net sales rose 38.56% to Rs 1423.76 crore in Q1 June 2016 over Q1 June 2015.

Crompton Greaves is engaged in the business of power and industrial systems.

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Cabinet approves creation of a Project Development Fund to catalyse Indian economic presence in Cambodia, Laos, Myanmar and Vietnam
Aug 31,2016

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval to create a Project Development Fund (PDF) with a corpus of Rs 500 Crore for catalysing Indian economic presence in the Cambodia, Laos Myanmar and Vietnam.

The PDF shall be housed in Department of Commerce and operated through the EXIM Bank. The PDF shall be governed by an Inter-Ministerial Committee under the chairpersonship of the Commerce Secretary.

Background:

CLMV countries namely Cambodia, Laos, Myanmar and Vietnam have a unique position in the regional value chains and offer a gateway for market access to China/EU and other markets due to various trade agreements. The key advantage of positioning India on the regional value chains is securing on a long term basis, a dedicated market for Indian raw materials and intermediate goods besides a dedicated source for inputs and raw materials for Indian industry. While opportunities are a plenty in CLMV region, Indian entrepreneurs endeavors in these countries have, thus far, been limited due to limited information, infrastructure and other contingent risks. The PDF shall benefit Indias industrial community for business expansion, and to maintain cost competitive supply chains, besides integrating with global production networks.

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Volumes jump at Rane Brake Lining counter
Aug 31,2016

Rane Brake Lining clocked volume of 63,000 shares by 13:52 IST on BSE, a 32.42-times surge over two-week average daily volume of 1,956 shares. The stock rose jumped 10% to Rs 797.75.

KEC International clocked volume of 9.54 lakh shares on BSE, a 25.17-times surge over two-week average daily volume of 38,000 shares. The stock shed 0.4% to Rs 135.55.

GlaxoSmithKline Pharmaceuticals notched up volume of 16,000 shares, a 14.53-fold surge over two-week average daily volume of 1,089 shares. The stock rose 1.26% to Rs 3,049.

Hindustan Construction Company clocked volume of 84.18 lakh shares, a 11.26-fold surge over two-week average daily volume of 7.47 lakh shares. The stock jumped 19.83% to Rs 27.50.

Deepak Nitrite saw volume of 4.44 lakh shares, a 9.86-fold surge over two-week average daily volume of 45,000 shares. The stock surged 14.32% to Rs 115.35.

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Surya Roshni gains on reports PE firms eye lighting biz
Aug 31,2016

Meanwhile, the BSE Sensex was up 152.52 points, or 0.54%, to 28,495.53.

On BSE, so far 2.61 lakh shares were traded in the counter, compared with average daily volume of 69,994 shares in the past one quarter. The stock hit a high of Rs 192.20 so far during the day, which is also a 52-week high for the counter. The stock hit a low of Rs 184.50 so far during the day. The stock hit a 52-week low of Rs 109.50 on 8 September 2015. The stock had outperformed the market over the past 30 days till 30 August 2016, rising 6.04% compared with 1.21% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 21.19% as against Sensexs 6.10% rise.

The small-cap company has equity capital of Rs 43.83 crore. Face value per share is Rs 10.

According to a media reports, Warburg Pincus and Bain Capital have expressed interest to buy into the lighting business of Surya Roshni, as the New Delhi-headquartered company is demerging it into a standalone unit. The private equity acquirers could shell about $400 million for the acquisition of the business, as per reports.

Net profit of Surya Roshni rose 27.16% to Rs 20.93 crore on 7.64% rise in net sales to Rs 845.44 crore in Q4 March 2016 over Q4 March 2015.

Surya Roshni has emerged as a vast conglomerate by being the largest in the steel segment and second largest in the realm of lighting. Surya has ventured into various other latitudes of business like fans, cold rolled strips and PVC pipes etc.

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HAL & DRDO the current windows for MSMEs participation with Defence Indigenisation: Air Marshal P P Khandekar
Aug 31,2016

Air Marshal P P Khandekar, AO-in-C (Maintenance), IAF on Tuesday emphasized, articulating that MSMEs should progress with defence indigenisation programme with increased Research & Development (R&D) having innovative approach as it would only ensure and enhanced their participation with armed forces through defence undertakings such as HAL and DRDO.

Addressing a Seminar on n++MSME Role in Indigenisation of IAF Requirements - Combating Challenges and Creating Capabilities with MSMEsn++ under aegis of PHD Chamber of Commerce and Industry here today, Mr. Khandekar said that currently MSMEs participation with armed forces was possible through the two entities and therefore, these should take advantages of the two windows with quality of manufacturing utmost in their mind.

Mr. Khandekar was addressing the Seminar which was organized as a Curtain Raiser to publicize a workshop on MSMEs role in Indigenisation of IAF requirements to be held at Lucknow on 14th of next month under the joint aegis of HAL, DRDO and PHD Chamber of Commerce and Industry.

The Seminar is likely to discuss and understand in detail the capabilities MSMEs posses and sensitize the local industry with the Indian Air Force requirement for future collaborations. There will also be display of equipment by BRD units of Indian Air Force.

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Zee hits 52-week high after agreeing to sell sports broadcasting business
Aug 31,2016

The announcement was made during market hours today, 31 August 2016.

Meanwhile, the S&P BSE Sensex was up 93.78 points or 0.33% at 28,436.79.

On BSE, so far 2.17 lakh shares were traded in the counter compared with average daily volume of 83,070 shares in the past one quarter. The stock hit a high of Rs 543.85 so far during the day which is a 52-week high for the counter. The stock hit a low of Rs 523.85 so far during the day. The stock hit a 52-week low of Rs 350.15 on 17 February 2016. The stock had outperformed the market over the past one month till 30 August 2016, rising 6.56% compared with the Sensexs 1.04% rise. The scrip had also outperformed the market in past one quarter, gaining 19.15% as against Sensexs 6.05% rise.

The large-cap company has equity capital of Rs 96.04 crore. Face value per share is Rs 1.

Zee will sell its sports broadcasting business to Sony Pictures Networks India and its affiliates for all-cash consideration of $385 million. Zees sports broadcasting business is carried through TEN Sports channels brand that operates in several countries including the Indian sub-continent, Maldives, Singapore, Hong Kong, Middle East and Caribbean. TEN Sports holds cricket broadcast rights from major cricket boards in the world. It also holds rights to wrestling, football, tennis, golf among other sporting events across the world.

The transaction is expected to be completed within 4 to 5 months. Zee said that the decision to sell the sports business is a part of reshuffle of the product portfolio. Zee is currently focusing on transforming itself into an all-round media and content company comprising of five verticals viz. broadcast, digital, films, live events and international business. The sports broadcasting business clocked revenue of Rs 631 crore for the year ended 31 March 2016 (FY 2016), constituting 10.79% of Zees consolidated revenue. The sports business incurred a net loss of Rs 37.20 crore in FY 2016.

Zees consolidated net profit rose 21.8% to Rs 216.96 crore on 18.5% growth in net sales to Rs 1571.62 crore in Q1 June 2016 over Q1 June 2015.

Zee Entertainment Enterprises is one of Indias leading television media and entertainment companies.

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Delhi government to install CCTV cameras in schools: Secretary, Education
Aug 31,2016

Delhi government is planning to bring Closed Circuit Television cameras (CCTV) not just for the purpose of security but to keep a tab on what is going on inside classrooms, said Punya Salila Shrivastava, Secretary, Education said at an ASSOCHAM event.

Ms. Punya Salila Shrivastava, Secretary, Education, elaborated upon the key initiatives taken by the Delhi Government this year. She further said, last year our budget witnessed a hike of about 106% over the previous year budget nearly Rs.10,000 crore in the state government to focus on education.

Ms. Punya said, Delhi government has identified the three aspects. Providing adequate facilities and good infrastructure are the prime focus. We have about 1,011 government schools with nearly 15 lakhs children as of today. In our government schools, we have 100-150 children sitting in a classroom.

Some crowded area of East and north East part of Delhi. Schools are running in three shifts means three batches into the same school and sometime they come to school on alternative basis. So, there are areas where density of population is very high. So, the focus was we have to improve our infrastructure, said Ms. Punya.

Second area in which we are working is the capable and dynamic teachers in our school. So, we want to ensure the adequate quality of our teachers and third aspects is improving our curriculum and teaching practice.

By using technology in this regard, as far infrastructure and adequate facilities are concern, we have gone on massive construction of simple classrooms not smart as yet. So, 8,000 classrooms are being constructed across the Delhi, added Ms. Punya.

Some schools we are developing in a pilot manner. In all our schools last year, we set up computers in all our schools with the content and instructors also supplied by the companies.

I request all the companies that whenever you develop the content, should keep in mind that you are generating for first generation learner. So, we have set up computer labs across all our schools.

We realise the infrastructure of the government school is very bad. It needs a lot of coordination by the principal with whole host of agency. Curriculum improvement is also first thing the government has also started working on.

In Delhi, we have done a survey of each and every child studying 6th, 7th, 8th and 9th standards. To know there learning skills, we found 74% of children in 6th cant read their own text book and nearly 40% cant read the text book of class 2, mentioned Ms. Punya.

We are doing also doing lot of planning because we really want them to read it fast otherwise they will miss out entire year. Again, Technology plays a very vital role here in both ways in tracking the progress of every child and make up the child read even faster.

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Board of Zee Entertainment Enterprises approves sale of Sports Broadcasting Business
Aug 31,2016

Zee Entertainment Enterprises announced that the Board of Directors of the Company at its meeting held on 31 August 2016 has approved the sale and transfer of the Sports Broadcasting Business of the Company held under / through two wholly owned non-material subsidiaries viz. Taj TV, Mauritius and Taj Television India to Sony Pictures Networks India and its affiliates at an aggregate all-cash transaction of USD 385 million and in connection with this transaction, the Company and its subsidiaries have on 31 August 2016 executed relevant binding agreements.

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J Kumar Infraprojects drops after selling by HDFC Standard Life Insurance
Aug 31,2016

Meanwhile, the S&P BSE Sensex was up 37.67 points, or 0.13%, to 28,380.68

On BSE, so far 1.61 lakh shares were traded in the counter, compared with average daily volume of 87,133 shares in the past one quarter. The stock hit a high of Rs 176.70 and a low of Rs 169.35 so far during the day. The stock hit a record high of Rs 449.75 on 6 October 2015. The stock hit a 52-week low of Rs 105.80 on 17 August 2016. The stock had underperformed the market over the past 30 days till 30 August 2016, falling 19.59% compared with 1.21% rise in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 30.6% as against Sensexs 6.1% rise.

The small-cap company has an equity capital of Rs 37.83 crore. Face value per share is Rs 5.

HDFC Standard Life Insurance Company is a domestic institutional investor.

J Kumar Infraprojects net profit rose 4.68% to Rs 28.61 crore on 0.99% rise in total income to Rs 412.48 crore in Q4 March 2016 over Q4 March 2015.

J Kumar Infraprojects is a civil engineering company focussed on construction of roads, flyovers, civil construction of buildings, irrigation projects and piling works.

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State Bank of Bikaner and Jaipur intimates of bank strike
Aug 31,2016

State Bank of Bikaner and Jaipur announced that Unions and Association of employees (viz All India Bank Employees Association (AIBEA), All India Bank Officers Association (AIBOA), BEFI, INBEF, AIBOC and INBOC) has given a strike notice on 02 September 2016 in support of their demands.

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