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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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Dredging Corporation of India announces change in directorate
Oct 07,2016

Dredging Corporation of India announced that Ministry of Shipping, vide Letter DT. 22 September 2016 informed appointment of Sanjeev Ranjan, AS&FA, Ministry of Shipping, Government of India as Part-time Official Director on the Board of Directors of DCI vice B. Poiyaamozhi, Ex. Development Adviser (Ports) from the date of issue of the letter (22 September 2016) till further orders.

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South Indian Bank drops amid volatility after Q2 numbers
Oct 07,2016

The result was announced during market hours today, 7 October 2016.

Meanwhile, the S&P BSE Sensex was down 20.76 points or 0.07% at 28,085.45.

On BSE, so far 19.61 lakh shares were traded in the counter as against average daily volume of 7.76 lakh shares in the past one quarter. The stock was volatile. The stock rose as much as 3.23% at the days high of Rs 25.55 so far during the day, which is a 52-week high for the counter. The stock lost as much as 4.24% at the days low of Rs 23.70 so far during the day. The stock had hit a 52-week low of Rs 16.40 on 29 February 2016. The stock had outperformed the market over the past one month till 6 October 2016, gaining 8.08% compared with 3.01% fall in the Sensex. The scrip had also outperformed the market in past one quarter, advancing 14.32% as against Sensexs 3.46% rise.

The mid-cap bank has equity capital of Rs 135.06 crore. Face value per share is Rs 1.

The banks provisions and contingencies surged 90.2% to Rs 128.33 crore in Q2 September 2016 over Q2 September 2015.

South Indian Banks gross non-performing assets (NPAs) stood at Rs 1745.28 crore as on 30 September 2016 compared with Rs 1651.60 crore as on 30 June 2016 and Rs 892.25 crore as on 30 September 2015. The banks ratio of gross NPAs to gross advances stood at 3.96% as on 30 September 2016, in line with 3.96% as on 30 June 2016 and 2.24% as on 30 September 2015. The ratio of net NPAs to net advances stood at 2.77% as on 30 September 2016 as against 2.89% as on 30 June 2016 and 1.39% as on 30 September 2015.

South Indian Bank is a private sector bank in India.

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Domestic Natural Gas Price Cut to Hurt Producers Realisation
Oct 07,2016

The 18% gas price reduction by the Government of India to lower revenues for domestic gas producers by around INR20bn during 2HFY17, estimates India Ratings and Research (Ind-Ra). Domestic natural gas price is cut by around 18%, to USD2.50/mmbtu for the period of 01 October 2016-31 March 2017 from the previous price of USD3.06/mmbtu. The price cut by the government is in line with the fall in Henry Hub gas prices over the reference period (July 2015 to June 2016). Prior to this reduction the government had reduced domestic gas prices by 20% in April 2016.

This is the fourth consecutive domestic gas price reduction since the implementation of the domestic gas pricing formula in October 2014. The present gas prices are about 50% lower since the implementation of the gas pricing formula. The average Henry Hub gas prices declined by 15% to USD2.24/mmbtu for the current reference period of July 2015- June 2016 period compared to USD2.62/mmbtu for previous reference period of January 2015-December 2015.

The public sector units, namely Oil India (OIL) and Oil and Natural Gas Corporation (ONGC) which contribute around 75% of the total domestic gas production will be impacted the most. Despite the decline in sale price, lower costs in terms of rig and vessel rentals will provide some relief to margins in this segment. However, the expected fall in margins is likely to result in a lower investment surplus for future exploration. In the mid-stream segment, Gails (India) (IND AAA/Stable) marketing segment can witness around INR9bn-INR10bn lower trading revenue from the sale of domestic gas during 2HFY17 on account of lower per unit realisation. Given that the current price of domestic gas will be close to the marginal cost of production for most players, a further fall in natural gas prices can lead to losses for these players. Ind-Ra notes there is a possibility for a formula revision or setting up of a floor price by the government to protect the domestic producers.

On the positive side, the end-consumers of compressed natural gas (CNG) and piped natural gas (PNG domestic) can benefit from the downward price revision, provided the benefit of lower domestic gas prices are passed on to the consumers. The revised price will translate into City Gas Distribution (CGD) entities lower costs of around INR1.4-INR1.5 per Standard Cubic Metre (SCM) on gas procurement. The PNG prices have been reduced by INR1/scm and CNG by INR1.4/kg in Delhi, post this gas price revision.

During April 2016-September 2016, the price of alternate fuel - diesel - increased by 8%, thus increasing the fuel competitiveness of CNG. Considering that the pricing power lies with the CGD entities, the quantum of benefit passed on to the consumers can vary across CGD entities, depending on their capex plans and investments surplus targeted by them. Analysing the historical price trends, Ind-Ra expects CGD entities to pass on between 40%-70% of the benefit to the end consumers, which is a price cut of around INR0.5/scm-INR1.0/scm in PNG prices and around INR0.7/kg-INR1.4/kg in CNG prices across CGDs.

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Paras Petrofils to hold AGM
Oct 07,2016

Paras Petrofils announced that the 25th Annual General Meeting(AGM) of the company on 30 September 2016.

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Seya Industries to hold EGM
Oct 07,2016

Seya Industries announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 1 November 2016 .

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Sumeet Industries to hold board meeting
Oct 07,2016

Sumeet Industries will hold a meeting of the Board of Directors of the Company on 17 October 2016.

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Abirami Financial Services (India) to hold board meeting
Oct 07,2016

Abirami Financial Services (India) will hold a meeting of the Board of Directors of the Company on 7 October 2016.

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Zee Media Corporation to hold board meeting
Oct 07,2016

Zee Media Corporation will hold a meeting of the Board of Directors of the Company on 27 October 2016 to consider and approve the Unaudited Financial results of the Company for the 2nd quarter of financial year 2016-17 and half year ended on September 30, 2016.

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Mastek to hold board meeting
Oct 07,2016

Mastek will hold a meeting of the Board of Directors of the Company on 18 October 2016 Un-Audited Financial Results of Company for the quarter and half year ended September 30, 2016;to recommend payment of Interim Dividend, if any.

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Volumes jump at Sanghvi Movers counter
Oct 07,2016

Sanghvi Movers clocked volume of 17.88 lakh shares by 13:08 IST on BSE, a 119.47-times surge over two-week average daily volume of 15,000 shares. The stock rose 10.02% to Rs 263.55.

Jagran Prakashan notched up volume of 10.20 lakh shares, a 21.73-fold surge over two-week average daily volume of 47,000 shares. The stock rose 0.68% to Rs 200.

Bajaj Electricals saw volume of 5.87 lakh shares, a 19.30-fold surge over two-week average daily volume of 30,000 shares. The stock fell 0.23% to Rs 262.

Tide Water Oil Company India clocked volume of 25,000 shares, a 13.64-fold surge over two-week average daily volume of 2,000 shares. The stock rose 6.62% to Rs 6,200.

DCB Bank saw volume of 14.42 lakh shares, a 8.48-fold rise over two-week average daily volume of 1.70 lakh shares. The stock fell 0.16% to Rs 124.80.

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Mercator drops as Asia Inv Corp (Mauritius) offloads bulk shares
Oct 07,2016

Meanwhile, the S&P BSE Sensex was down 65.17 points or 0.23% at 28,041.04.

On BSE, so far 7.96 lakh shares were traded in the counter as against average daily volume of 6.04 lakh shares in the past one quarter. The stock hit a high of Rs 46.85 and a low of Rs 45.15 so far during the day. The stock had hit a 52-week low of Rs 15.90 on 12 February 2016. The stock had hit a 52-week high of Rs 54.55 on 6 September 2016. The stock had hit a The stock had underperformed the market over the past one month till 6 October 2016, sliding 10.41% compared with 3.01% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 19.42% as against Sensexs 3.46% rise.

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

Promoter entity Atul Jitendra Agarwal sold 54.60 lakh shares at Rs 46.31 per share in a bulk deal on the NSE yesterday, 6 October 2016. Government Of Singapore Corp Pvt Ltd A/C Govt Of Singapore C bought 60.85 lakh shares at Rs 46.05 per share. Monetary Authority of Singapore purchased 21.88 lakh shares at Rs 46.05 per share.

Atul Jitendra Agarwal held 2.23% stake in Mercator as per the shareholding pattern as on 30 June 2016.

On a consolidated basis, Mercator reported net profit of Rs 16.61 crore in Q1 June 2016 compared with net loss of Rs 35.40 crore in Q1 June 2015. Net sales declined 18.7% to Rs 584.17 crore in Q1 June 2016 over Q1 June 2015.

Mercator group has business interests in coal, oil & gas, shipping and dredging.

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Info Edge (India) corrects on profit booking
Oct 07,2016

Meanwhile, the BSE Sensex was down 87.57 points, or 0.31%, to 28,018.64.

On BSE, so far 6,609 shares were traded in the counter, compared with average daily volume of 15,356 shares in the past one quarter. The stock hit a high of Rs 1,002 and a low of Rs 945 so far during the day. The stock hit a 52-week high of Rs 1,012 on 6 October 2016. The stock hit a 52-week low of Rs 690 on 1 March 2016. The stock had outperformed the market over the past 30 days till 6 October 2016, rising 18.07% compared with 2.84% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 17.07% as against Sensexs 3.61% rise.

The large-cap company has equity capital of Rs 121.12 crore. Face value per share is Rs 10.

Shares of Info Edge (India) rose 16.72% in four trading sessions to settle at Rs 991.70 yesterday, 6 October 2016, from its close of Rs 849.65 on 30 September 2016.

Net profit of Info Edge (India) rose 54.94% to Rs 44.36 crore on 13.09% rise in net sales to Rs 197.60 crore in Q1 June 2016 over Q1 June 2015.

Info Edge (India) is among the leading internet companies in India. It runs leading internet businesses - Naukri.com - Indias no. 1 job site, Jeevansathi.com - one of the leading matrimonial portals, 99acres.com - Indias No.1 real estate portal and Shiksha.com - Indias leading education portal.

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Shoppers Stop opens store at Indira Gandhi International Airport, New Delhi
Oct 07,2016

Shoppers Stop has opened its Shoppers Stop store in T1, Indira Gandhi International Airport, New Delhi.

With this, the Company has now 83 Shoppers Stop (including six airport stores) stores under its operations.

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Export of Oilmeals down by 44% during April - September 2016
Oct 07,2016

The Solvent Extractors Association of India has compiled the export data for export of oilmeals for the month of September 2016. The export of oilmeals during September 2016 is reported at 90,907 tons compared to 139,649 tons i.e. down by 35%. The overall export of oilmeals during April- September 2016 is reported at 421,741 tons compared to 749,397 tons during the same period of last year i.e. down by 44% due to lesser availability of oilseeds for crushing and continuous disparity in exporting oilmeals in International Market.

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IDBI Bank surges on reports Govt revives stalled divestment process
Oct 07,2016

Meanwhile, the S&P BSE Sensex was down 87.95 points or 0.31% at 28,018.26.

On BSE, so far 8.20 lakh shares were traded in the counter as against average daily volume of 7.17 lakh shares in the past one quarter. The stock hit a high of Rs 73.55 and a low of Rs 71.70 so far during the day. The stock had hit a 52-week high of Rs 95.70 on 3 December 2015. The stock had hit a 52-week low of Rs 47.40 on 12 February 2016. The stock had underperformed the market over the past one month till 6 October 2016, sliding 4.77% compared with 3.01% fall in the Sensex. The scrip had also underperformed the market in past one quarter, declining 8.99% as against Sensexs 3.46% rise.

The large-cap bank has equity capital of Rs 2058.82 crore. Face value per share is Rs 10.

The Government of India (GoI) has reportedly instructed IDBI Banks management to bring its stake down to 52%. Retaining a majority, the government hopes, will allow the asset-sale programme smoother passage and eventually help achieve the ambition of transforming IDBI Bank along the lines of Axis Bank, reports suggested. The GoI currently held 73.98% stake in IDBI Bank (as per the shareholding pattern as on 30 June 2016).

IDBI Banks net profit rose 78.4% to Rs 241.10 crore on 4% growth in total income to Rs 8219.43 crore in Q1 June 2016 over Q1 June 2015.

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