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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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BAMPSL Securities to hold AGM
Aug 26,2016

BAMPSL Securities announced that the 21th Annual General Meeting(AGM) of the company on 29 September 2016.

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Mid East Portfolio Management to hold AGM
Aug 26,2016

Mid East Portfolio Management announced that the 25th Annual General Meeting(AGM) of the company on 30 September 2016.

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S E Power to hold AGM
Aug 26,2016

S E Power announced that the 6th Annual General Meeting(AGM) of the company on 20 September 2016.

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PC Jeweller to hold AGM
Aug 26,2016

PC Jeweller announced that the 11th Annual General Meeting(AGM) of the company on 19 September 2016.

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Cineline India to hold AGM
Aug 26,2016

Cineline India announced that the 14th Annual General Meeting(AGM) of the company on 22 September 2016.

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Yantra Natural Resources to hold AGM
Aug 26,2016

Yantra Natural Resources announced that the th Annual General Meeting(AGM) of the company on 27 September 2016.

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RJ Shah & Company to hold AGM
Aug 26,2016

RJ Shah & Company announced that the 58th Annual General Meeting(AGM) of the company on 28 September 2016.

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Kay Power & Paper to hold AGM
Aug 26,2016

Kay Power & Paper announced that the 25th Annual General Meeting(AGM) of the company on 19 September 2016.

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Rashtriya Chemicals & Fertilizers to hold AGM
Aug 26,2016

Rashtriya Chemicals & Fertilizers announced that the th Annual General Meeting(AGM) of the company on 23 September 2016.

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MEP Infrastructure Developers to hold board meeting
Aug 26,2016

MEP Infrastructure Developers will hold a meeting of the Board of Directors of the Company on 2 September 2016 to consider and take on record the Un-Audited Standalone and Consolidated Financial Results of the Company for the 1st quarter ended June 30, 2016.

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Virtual Global Education announces resignation of company secretary and compliance officer
Aug 26,2016

Virtual Global Education announced that Neha Basin has resigned from the post of Company Secretary & Compliance Officer of the Company with effect from 26 August 2016.

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Slowdown in MHCV Sales Volumes - A Change in Trend
Aug 26,2016

The decline in the year on year sales growth in the Medium and Heavy Commercial Vehicles (MHCV) segment in June-July 2016 is a digression of the trend observed previously, says India Ratings and Research (Ind-Ra). The agency believes that persistence in the slowdown in MHCV volumes in the next two to three months could point towards a change in the MHCV cycle.

Ind-Ra had earlier highlighted in its report FY17 Outlook: Auto that auto sales in FY17 will be driven by the MHCV segment. In January 2016 Ind-Ra had estimated MHCV volumes to grow by 12%-15% yoy in FY17 driven by demand for high tonnage vehicles to achieve cost efficiency in operations and replacement demand of old vehicles. The agency may re-look at its growth estimates based on MHCV volumes registered in the next one to two months.

The upturn in the MHCV cycle began around January 2014. The yoy growth was very strong at 30% in FY16 and 16% in FY15. As per Ind-Ras assessment, the growth is attributed to pent up demand, some pre-emptive purchases in August-September 2015 (due to new safety features being made compulsory from Oct 2015 - which increased prices) and improved cash flows of fleet operators due to the decline in diesel prices and the entire decrease not being passed on to clients. Another factor possibly supporting MHCV sales is the uptick in mining and the increase in infrastructure spending by the government in FY16/FY17, compared with previous years.

Consistent demand had been witnessed in FY15 and FY16 in the higher tonnage segment of MHCVs (>25T) typically used for long haul - fleet owners seem to be intent on reducing their per ton transportation costs by taking advantage of better road infrastructure in the country. The data compiled by Society of Indian Automotive Manufacturers for June and July 2016 indicates a decline of 9.2% and 24.9% respectively, in this segment in these two months.

The surge in the demand for MHCVs witnessed in the past two years is not corroborated by the Index of Industrial Production which has displayed an inconsistent trend in this period. Growth figures for MHCVs is also not supported by data on foreign direct investments in the country, with the major proportion of investments by FIIs in FY16 having been in the services sector, rather than in manufacturing. In addition, growth in the gross fixed capital formation (which is an indicator of an uptick in economic activity) has been tapering down in the past three years (FY16:3.3%, FY15: 7.9%, FY14: 13.6%). Further, capacity utilisations across industries have not improved, even growth in exports while positive, continue to be tepid. Also freight rates after declining towards the end of FY15 have remained flat in FY16, with a slight increase in certain sectors in the current financial year.

Historically, MHCV sales display a high degree of seasonality, with weak sales in the month of December due to the preference of buyers to purchase vehicles bearing the registration number of the next year (for better pricing in the second hand market), followed by a steady uptick in volumes in the following three months, namely January-March. Sales tend to peak around the month of March every year, as fleet owners increase purchases in Q4 to avail of depreciation benefits and use up their budgets and auto OEMs push sales to their dealers to achieve annual sales targets.

Naturally, the month of April each year registers the lowest sales due to sales peaking in March. However in May, June and July sales volume start their upward trend again. It may be noted that in 2016, the sales volume growth from June onwards has been muted. For June 2016 on a year on year basis, the volume growth slowed to 1.9% compared to the growth of 21% in June 2015, while for July 2016 volumes contracted by 7.6% compared to growth of 30% in July 2015. The agency will be closely monitoring MHCV domestic sales volumes for the next few months, as it believes that a steadily declining trend would possible indicate a reversal of the sales trend in this segment.

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Market ends with small losses
Aug 26,2016

Key benchmark indices registered small losses on last trading day of the week in a volatile trading session. The barometer index, the S&P BSE Sensex lost 53.66 points or 0.19% to settle at 27,782.25. The Nifty 50 index lost 19.65 points or 0.23% to settle at 8,572.55.

The market breadth indicating the overall health of the market was negative. The BSE Mid-Cap index rose 0.17%, outperforming the Sensex. The BSE Small-Cap index fell 0.12%. The decline in this index was lower than the Sensexs decline in percentage terms.

Among the sectoral indices on BSE, the S&P BSE IT index (down 1.25%), the S&P BSE Capital Goods index (down 1.24%) and the S&P BSE Realty index (down 1.15%) underperformed the Sensex. The S&P BSE Consumer Durables index (up 1.46%), the S&P BSE Energy index (up 0.78%) and the S&P BSE Oil & Gas index (up 0.7%) outperformed the Sensex.

In the foreign exchange market, the rupee was trading almost unchanged against the dollar. The partially convertible rupee was hovering at 67.045, compared with closing of 67.0575 during the previous trading session.

The yield on 10-year benchmark federal paper, 7.59% GS 2026, was flat at 7.12% at 15:32 IST, same as at close in the previous trading session. The total trading volume on the central banks gilts trading platform stood at Rs 34850 crore. The weighted average rate in the overnight call money market eased to 6.38% at 15:32 IST, compared with 6.42% in the previous session.

In overseas stock markets, European stocks drifted lower while Asian stocks witnessed a mixed trend ahead of Federal Reserve Chairwoman Janet Yellens speech today, 26 August 2016, which could provide hints about the timing of the next rate hike from the Fed. US stocks registered small losses yesterday, 25 August 2016, with healthcare stocks extending previous trading sessions decline.

Globally, investors are awaiting Yellens speech today, 26 August 2016, which could provide hints about the timing of the next rate hike from the Fed. High US interest rates would pull money out of emerging markets and redirect it to the US. Yellen is due to speak at the Kansas City Feds annual Monetary Policy Symposium in Jackson Hole, Wyoming. Minutes from the Federal Open Market Committees (FOMC) July meeting showed officials were split on whether an increase in interest rate was needed soon.

In global commodities markets, Brent crude oil futures edged lower. Brent for October settlement was off 38 cents at $49.29 a barrel. The contract had gained 62 cents or 1.26% to settle at $49.67 a barrel during previous trading session.

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Tata Motors consolidated net profit declines 56.98% in the June 2016 quarter
Aug 26,2016

Net profit of Tata Motors declined 56.98% to Rs 2260.40 crore in the quarter ended June 2016 as against Rs 5254.23 crore during the previous quarter ended June 2015. Sales rose 10.10% to Rs 64940.12 crore in the quarter ended June 2016 as against Rs 58984.55 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales64940.1258984.55 10 OPM %11.7218.66 - PBDT6617.1010081.32 -34 PBT2066.286339.75 -67 NP2260.405254.23 -57

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Magnum reports standalone net loss of Rs 0.02 crore in the June 2016 quarter
Aug 26,2016

Net Loss of Magnum reported to Rs 0.02 crore in the quarter ended June 2016 as against net loss of Rs 0.01 crore during the previous quarter ended June 2015. There were no Sales reported in the quarter ended June 2016 and during the previous quarter ended June 2015.

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