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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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Third Party Verification of ODF Claims by Cities/Towns Begins; 10 Of 11 Claims Certified
Aug 29,2016

Ten towns have been certified as Open Defecation Free with the Ministry of Urban Development beginning the process of third party verification of ODF claims by towns under Swachh Bharat Mission (Urban).

The Ministry has got ODF claims of 11 towns independently verified by the Quality Council of India and certified the claims of ten of them as per the Protocol evolved for such certification. The towns certified to have become ODF are; Kagal, Panchgani, Vengurla, Murgud and Panhala in Maharashtra and Siddipet, Shadnaga, Suryapet, Achampet and Huzurnagar in Telangana. The claim of Bhongir in Telanagana will be reassessed.

A total of 141 towns in 7 States have claimed to have become Open Defecation Free including 100 in Maharashtra and these claims are under verification. The progress of Swachh Bharat Mission in urban areas was presented by the Ministry officials at a review meeting taken by the Minister of Urban Development Shri M.Venkaiah Naidu. Shri Naidu, who has been regularly reviewing progress of the Mission asked the officials to ensure effective follow up action with States for realizing the objectives of the Mission.

13 towns claiming ODF status in Gujarat include; Gandhidham, Navsarai, Rapar and Mandavi. Six other towns making such claim in Telangana are; Gajwel, Ibrahimpatnam, Jagtiyal, Madhira, Sattupalli and Sircilla.

10 towns in West Bengal claiming elimination of Open Defecation include; Krishananagar, Nabadwip, Santipur and Kalyani. Other ODF claims are from Ambikapur, Dhamtari and Ambagarh Chowki in Chattisgarh, Dungarpur in Rajasthan and Mairang and kakching in Manipur.

As per the reports received from States so far in the Ministry, a total of 974 cities and towns will eliminate Open Defecation next year. These include-Andhra Pradesh-all 112 urban areas, Kerala- all 59, Gujarat-170 of 195, Uttar Pradesh-85 of 648, Madhya Pradesh-68 of 364, Karnataka-50 of 220, Chattisgarh-42 of 166, Assam-40 of 88, Telangana-37 of 68, Rajasthan-34 of 185, Tamil Nadu-25 of 721 and Jammu & Kashmir-22 of 86.

As per the Protocol for third party verification and certification of ODF status- each Ward and City first self-declares as ODF and on intimation of the same by the respective Urban Local Body or State, the Ministry gets such claims verified in 30 days based on assessment of service level status (construction and availability of household, community and public toilets) and independent observations by the third party. For each Zone in a city/town, a minimum of five places will be inspected i.e a slum, school, public area like market or religious place, residential area and bus stand/railway station. For a city with a population of less than five lakhs, a minimum of 9 places shall be inspected and 17 places for a city with more than five lakh population.

A Ward or City can be notified/declared as ODF if, at any point of the day, not a single person is found to be defecating in the open.

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Tyre stocks gain on declining rubber prices
Aug 29,2016

Balkrishna Industries (up 6.29%), Apollo Tyres (up 4.21%), JK Tyre & Industries (up 6.19%), MRF (up 3.52%), Goodyear India (up 1.12%) and CEAT (up 3.94%) gained.

Meanwhile, the S&P BSE Sensex was up 117.75 points or 0.42% at 27,900

On Friday, 26 August 2016, the price of the benchmark natural rubber RSS-4 grade reportedly fell to Rs 129 a kg, its lowest level since 1 June 2016. The rubber prices declined about 10% from its recent high of Rs 145 on 2 August 2016. Natural rubber is a key raw material used in tyre manufacturing. Lower rubber prices will boost profitability of tyre makers.

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Rathi Steel & Power announces cessation of director
Aug 29,2016

Rathi Steel & Power announced that the Company, after due considerations, on 24 August 2016 has accepted Pradeep Kumar Rathis request to vacate his office as Director and Managing Director of the Company w.e.f. dated 28 July 2016.

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Aditya Birla Nuvo allots equity shares
Aug 29,2016

Aditya Birla Nuvo has allotted 1,545 equity shares of Rs. 10 each at Rs. 590.15 on 29 August 2016, pursuant to exercise of stock options under Employee Stock Option Scheme - 2013. All the said Equity Shares will rank pari passu with the existing Equity Shares of the Company, in all respects.

The paid up share capital of the Company will accordingly increase from Rs. 1,30,22,41,460 (13,02,24,146 equity shares of Rs. 10/- each) to Rs. 1,30,22,56,910 (13,02,25,691 equity shares of Rs. 10/- each).

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Finolex Industries reverses previous sessions losses
Aug 29,2016

Meanwhile, the BSE Sensex was up 111.99 points, or 0.40%, to 27,894.24.

On BSE, so far 26,000 shares were traded in the counter, compared with average daily volume of 16,545 shares in the past one quarter. The stock hit a high of Rs 488 and a low of Rs 466.15 so far during the day. The stock hit a record high of Rs 497.50 on 26 August 2016. The stock hit a 52-week low of Rs 247.95 on 23 September 2015. The stock had underperformed the market over the past 30 days till 26 August 2016, sliding 2.46% compared with 1.51% slide in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 18.71% as against Sensexs 4.23% rise.

The mid-cap company has equity capital of Rs 124.10 crore. Face value per share is Rs 10.

The Q1 result was announced during market hours on Friday, 26 August 2016. On that day, the stock fell 3.36% to settle at Rs 458.45 after rising as much as 4.87% in intraday trade.

Finolex Industries net profit rose 36.1% to Rs 98.04 crore on 6% rise in net sales to Rs 665.93 crore in Q1 June 2016 over Q1 June 2015.

Finolex Industries is the largest PVC pipe manufacturer in India.

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Board of Jyoti Resins and Adhesives approves sub-division of shares
Aug 29,2016

Jyoti Resins and Adhesives announced that the Board of Directors of the Company has at its meeting held on 29 August 2016 have considered and recommended following.

- Sub-division in face value of equity share of the Company of Rs. 10/- each into 10 Equity Shares of Rs. 1/- each and consequent amendment in the Capital Clause of the Memorandum of Association of the Company.

However, above recommendation shall be subject to approval of shareholders at the ensuing Annual General Meeting of the Company.

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Board of Indian Oil Corporation recommends 1:1 bonus issue
Aug 29,2016

Indian Oil Corporation announced that the Board of Directors of the Company at its meeting held on 29 August 2016, inter alia, has recommended issue of Bonus shares in the ratio of 1:1 i.e. 1 (One) equity bonus share of Rs. 10/- each for every 1 (One) existing equity share of Rs. 10/- each fully paid up subject to the approval of the shareholders.

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L&T gains as company aims at revenue of Rs 2 lakh crore by 2021
Aug 29,2016

Meanwhile, the S&P BSE Sensex was up 146.74 points, or 0.53%, to 27,928.99

On BSE, so far 1.56 shares were traded in the counter, compared with average daily volume of 1.80 lakh shares in the past one quarter. The stock hit a high of Rs 1,462 and a low of Rs 1,421 so far during the day. The stock hit a 52-week high of Rs 1,655 on 28 August 2015. The stock hit a 52-week low of Rs 1,016.60 on 12 February 2016. The stock had underperformed the market over the past 30 days till 26 August 2016, falling 9.45% compared with Sensexs 1.51% fall. The scrip also underperformed the market in past one quarter, falling 3.17% as against Sensexs 4.23% rise.

The large-cap company has an equity capital of Rs 186.47 crore. Face value per share is Rs 2.

Shares of L&T declined 2.02% to settle at Rs 1,427.85 on Friday, 26 August 2016, after the company presented to the stock exchanges a copy of Chairman Naiks speech made at the companys Annual General Meeting in Mumbai on that day.

Naik said at the companys Annual General Meeting that the companys goal is to achieve revenue of Rs 2 lakh crore ($30 billion) by 2021 without compromising on profit margins. L&Ts net revenue from operations stood at Rs 1.02 lakh crore in the year ended 31 March 2016 (FY 2016) based on consolidated financial performance.

Naik said that economic conditions are starting to turn in favour of the company. Naik said that the opening of the defence sector will lead to business opportunities worth Rs 13 lakh crore over the next 10 years. He also said that there is estimated business opportunity of Rs 50000 crore over 10 years in nuclear power sector. Naik also said that L&T will tap business opportunity in governments Smart City projects and realty segment. Naik said that there are a number of projects in the road, ports, airports, railway sectors in pipeline with a total estimated value of over Rs 14 lakh crore. Naik said that L&T is also strengthening its operations in the Gulf, Africa and South East Asia.

L&Ts consolidated net profit rose 45.5% to Rs 609.60 crore on 9.07% growth in total income to Rs 22176.22 crore in Q1 June 2016 over Q1 June 2015.

L&T is a major Indian multinational engaged in technology, engineering, construction, manufacturing and financial services. It operates in more than 30 countries worldwide.

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Re-engineering Indian healthcare is critical for the country says FICCI
Aug 29,2016

Disruptive and innovative technologies are transforming the world today and hence, we are experiencing change in almost every aspect of our lives including healthcare. In the past decade or so, the way healthcare is perceived and delivered has changed dramatically. Technology and clinical advancements have simplified diagnosis and treatment of illness while telemedicine has improved access of care in remote areas. Further, healthcare apps have created awareness regarding wellness and prevention amongst people and personalized care has become common due to innovation of wearable gadgets. India, however, stands at a cross road despite these advancements in the healthcare industry. India needs to think about healthcare beyond hospital beds and innovate healthcare services.

Dr Nandakumar Jairam, Chair, FICCI Health Services Committee; Chairman, NABH and Chairman & Group Medical Director, Columbia Asia Hospitals India, states, n++We house 16% of worlds population and 21% of worlds disease burden equaling loss of ~6% of Indias GDP due to premature deaths and preventable illnesses. It is estimated that the increasing NCD burden will cost India USD 4.58 trillion due to loss of productivity. At the same time, our total health spend is only ~4.7% of GDP and out of pocket expenditure (OOP) is 62% of the total health spend. This is very high when compared to other countries such as Brazil 25%, China 32%, South Africa 6%, USA 11%, UK 9%. Therefore providing access to quality healthcare for 1.2 billion plus population is a huge challenge that the country has to deal withn++.

Mr Vishal Bali, Co-Chair, FICCI Health Services Committee & Chairman, Medwell Ventures elaborates, n++unprecedented demand due to demographic changes and shifting disease patterns, coupled with rising costs and the proliferation of technology, has led to demand for efficiency, transparency in care delivery. This has paved the way for innovation of processes and products and new business models in the healthcare sector to cater to the rising demand of the consumers. In view of the new era, it is time that we look at the Indian healthcare with a different lens keeping patient needs at the core and re-engineer the entire value chain of healthcare delivery. India needs to transform its healthcare sector.

Mr Ashok Kakkar, Co-Chair, FICCI Health Services Committee and Senior MD, Varian Medical Systems International India, added, n++Solving Indias healthcare affordability and accessibility problems is possible only if we bring in a complete paradigm shift and strategize a journey of transformation.n++

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IOCL declines as Q1 GRM drops
Aug 29,2016

Meanwhile, the S&P BSE Sensex was up 52.34 points or 0.19% at 27,834.59

On BSE, so far 6.12 lakh shares were traded in the counter as against average daily volume of 2.97 lakh shares in the past one quarter. The stock hit a high of Rs 582.90 and a low of Rs 565.10 so far during the day. The stock had hit a record high of Rs 593.25 on 8 August 2016. The stock had hit a 52-week low of Rs 345.05 on 12 February 2016. The stock had outperformed the market over the past 30 days till 26 August 2016, rising 7.72% compared with Sensexs 1.51% fall. The scrip also outperformed the market in past one quarter, surging 38.58% as against Sensexs 4.23% rise.

The large-cap company has equity capital of Rs 2427.95 crore. Face value per share is Rs 10.

Indian Oil Corporation (IOCL)s net profit rose 25.46% to Rs 8268.98 crore on 5.72% fall in total income to Rs 107670.95 crore in Q1 June 2016 over Q1 June 2015. IOCL announced Q1 June 2016 results during market hours today, 29 August 2016.

IOCL accounted for budgetary support amounting to Rs 1331.69 crore from Government of India in Q1 June 2016 towards under recovery on sale of PDS kerosene (SKO), compared with Rs 1732.95 crore in Q1 June 2015. State-run oil marketing companies bear under-recoveries on domestic sale of LPG and kerosene at controlled prices. The government has already freed pricing of petrol and diesel.

In Q1 June 2016, IOCL did not get any discount from ONGC/Oil India/Chennai Petroleum Corporation in respect of crude oil purchased from them compared with discount received of Rs 878.84 crore in Q1 June 2015.

Meanwhile, IOCLs board of directors recommended issue of bonus shares in ratio of 1:1 (one bonus share for each held).

IOCL is Indias flagship national oil company, with business interests that straddle the entire hydrocarbon value chain - from refining, pipeline transportation and marketing of petroleum products to exploration & production of crude oil & gas as well as marketing of natural gas and petrochemicals. The Government of India held 58.28% stake in IOCL (as per the shareholding pattern as on 30 June 2016).

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Tata Motors extends post result gains
Aug 29,2016

Meanwhile, the BSE Sensex was up 66.27 points, or 0.24%, to 27,848.52.

On BSE, so far 15.02 lakh shares were traded in the counter, compared with average daily volume of 8.92 lakh shares in the past one quarter. The stock hit a high of Rs 528.05 so far during the day, which is also a 52-week high for the counter. The stock hit a low of Rs 515.80 so far during the day. The stock hit a 52-week low of Rs 266 on 11 February 2016. The stock had outperformed the market over the past 30 days till 26 August 2016, sliding 0.43% compared with 1.51% slide in the Sensex. The scrip had also outperformed the market in past one quarter, rising 24.82% as against Sensexs 4.23% rise.

The large-cap company has equity capital of Rs 577.44 crore. Face value per share is Rs 2.

The Q1 result was announced during market hours on Friday, 26 August 2016, when the stock settled 2.01% higher at Rs 503.65. The stock has risen 6.56% in two trading sessions from its close of Rs 493.75 on Thursday, 25 August 2016.

Tata Motors consolidated net profit declined 57.25% to Rs 2236 crore on 9.01% growth in revenue to Rs 67056 crore in Q1 June 2016 over Q1 June 2015. Tata Motors said that higher volumes in both standalone as well as Jaguar Land Rover (JLR) business was more than offset by the adverse foreign currency impact of Rs 2296 crore and adverse commodity derivatives impact of Rs 167 crore in the operating profit mainly in the Jaguar Land Rover business. The profitability was also adversely impacted by lower local market incentive in the JLR business as compared to the corresponding quarter last year and higher depreciation and amortization expenses as compared to the corresponding quarter last year.

Tata Motors attributed the increase in top line during the quarter to strong sales from Jaguar Land Rover (JLR) business and continued volume growth in M&HCV segment and the LCV segment.

Meanwhile, Tata Motors board approved raising funds aggregating Rs 3000 crore by way of issue of secured/unsecured debentures and/or bonds in one or more tranches, from time to time.

Tata Motors is a market leader in commercial vehicles in India. The companys British unit JLR sells premium luxury cars.

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AXISCADES Engg. Techs. to hold AGM
Aug 29,2016

AXISCADES Engg. Techs. announced that the 26th Annual General Meeting(AGM) of the company on 26 September 2016.

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Sanguine Media to hold AGM
Aug 29,2016

Sanguine Media announced that the th Annual General Meeting(AGM) of the company on 29 September 2016.

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Tulsyan NEC to hold AGM
Aug 29,2016

Tulsyan NEC announced that the 69th Annual General Meeting(AGM) of the company on 26 September 2016.

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Ballarpur Industries to hold AGM
Aug 29,2016

Ballarpur Industries announced that the 71th Annual General Meeting(AGM) of the company on 29 September 2016.

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