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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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Panacea Biotec gains after announcing shortage of Cilamin 250 Capsule
Sep 29,2016

The announcement was made after market hours yesterday, 28 September 2016.

Meanwhile, the BSE Sensex was up 100.83 points, or 0.36%, to 28,393.64.

On BSE, so far 25,000 shares were traded in the counter, compared with average daily volume of 18,653 shares in the past one quarter. The stock hit a high of Rs 124 and a low of Rs 118.25 so far during the day. The stock hit a 52-week high of Rs 171.20 on 4 December 2015. The stock hit a 52-week low of Rs 83.90 on 12 February 2016. The stock had outperformed the market over the past 30 days till 28 September 2016, rising 7.29% compared with 0.18% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 6.44% as against Sensexs 4.79% rise.

The small-cap company has equity capital of Rs 6.13 crore. Face value per share is Re 1.

Panacea Biotec said Cilamin 250 Capsule, used for treatment of Wilsons disease, Rheumatoid Arthritis and other conditions, witnessed short supply in the market during the last few months due to non-availability of raw material D-Penicillamine in India. Panacea Biotec said that its brand Cilamin 250 Capsules has been made available in limited quantities in the retail market. The temporary shortage is due to sudden disruption of supplies of raw material by qualified supplier beyond the control of the company. Since then company has been working tirelessly with alternate suppliers for supply of this raw material. Due to continuous efforts, the company has resumed limited production of Cilamin 250 and have released limited quantities in the market from 26 September 2016 from the companys manufacturing facility at Baddi under Good Manufacturing Practices.

The firm said it continues to work closely with existing and potential new raw material suppliers in China and India for access to the raw material in an accelerated manner. The company said it is in touch with Drug Controller General of India office for allowing imports of raw material in parallel to registration process under this emergency situation to ensure continuous access of this medicine to patients while other alternative sources in India are being also worked upon in an aggressive manner. As per current estimates, the company expects additional 2-4 weeks for access to additional quantities of raw material and additional 4 weeks for Cilamin 250 supplies to normalize.

Panacea Biotec said it is committed to do what all it takes to ensure continuous and sustainable access of good quality Cilamin 250 a critical lifesaving drug to patients.

Panacea Biotec reported net loss of Rs 19.67 crore in Q1 June 2016 as against net loss of Rs 36.90 crore in Q1 June 2015. Net sales declined 0.3% to Rs 120.40 crore in Q1 June 2016 over Q1 June 2015.

Panacea Biotec is one of Indias leading research based biotechnology company established research, manufacturing and marketing capabilities. Panacea Biotec is one of the largest vaccine producer in India and has been amongst the top 3 biotechnology companies and the top 50 pharmaceutical companies in India.

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IDFC Bank to hold board meeting
Sep 29,2016

IDFC Bank will hold a meeting of the Board of Directors of the Company on 25 October 2016 to discuss and approve the Unaudited Financial Results (subjected to Limited Review by Auditors) for the quarter and half year ended September 30, 2016.

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Uday Jewellery Industries to hold board meeting
Sep 29,2016

Uday Jewellery Industries will hold a meeting of the Board of Directors of the Company on 28 September 2016.

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Mayur Uniquoters to hold board meeting
Sep 29,2016

Mayur Uniquoters will hold a meeting of the Board of Directors of the Company on 28 September 2016.

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Bajaj Holdings & Investment to hold board meeting
Sep 29,2016

Bajaj Holdings & Investment will hold a meeting of the Board of Directors of the Company on 28 October 2016.

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Glaxosmithkline Pharma to hold board meeting
Sep 29,2016

Glaxosmithkline Pharma will hold a meeting of the Board of Directors of the Company on 27 October 2016.

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Everest Industries to hold board meeting
Sep 29,2016

Everest Industries will hold a meeting of the Board of Directors of the Company on 21 October 2016.

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US stocks rally on OPEC decision
Sep 29,2016

U.S. stocks swung higher on Wednesday, 28 September 2016 after OPEC took an important step toward a cap on crude-oil output.

The Dow Jones Industrial Average rose 110.94 points, or 0.6%, to finish at 18,339.24, aided by sharp gains by energy giants Exxon Mobil and Chevron Corp. The Nasdaq Composite Index climbed 12.84 points, or 0.2%, to end at 5,318.55. The S&P 500 index rose 11.44 points, or 0.5%, to close at 2,171.37, led by a 4.3% surge in the energy sector.

Equity indices began the day on a choppy note as volatility from the oil pit weighed on the broader market. Crude oil was in focus as a negative reading of the Department of Energys weekly inventory report weighed on the energy component. The energy component staged a reversal shortly after midday as reports showed that OPEC agreed to lower its production to 32.5 million barrels per day from approximately 33.2 million barrels. However, the reduction will not go into effect until OPEC meets on November 30.

The Organization of the Petroleum Exporting Countries reached an n++understandingn++ to limit crude production and is considering cutting production to between 32.5 million to 33 million barrels a day. The potential production cut, along with a drawdown in U.S. crude supplies for a fourth week, sparked a strong rally in the crude oil market.

November West Texas Intermediate crude settled at $47.05 a barrel on the New York Mercantile Exchange.

Members of the Organization of the Petroleum Exporting Countries and other big oil producers held discussions on Wednesday on the sidelines of an energy forum in Algeria on ways to help stabilize the oil market. The market had its doubts that an output deal would be reached at the meeting as OPEC members Iran, Libya and Nigeria have all been trying to boost production, while Saudi Arabia, and non-OPEC Russia have been pumping oil at record or near-record rates.

The U.S. Energy Information Administration reported early on Wednesday that domestic crude supplies fell unexpectedly for a fourth week in a row. Crude inventories fell by 1.9 million barrels in the week ended Sept. 23. A 3.2 million-barrel climb was expected by market, while the American Petroleum Institute late Tuesday reported a decline of 752,000 barrels.

Higher interest rates can boost the dollar and dull demand for dollar-denominated commodities. On Wednesday, the ICE U.S. Dollar Index edged up by 0.1%.

Todays economic data at Wall Street included the weekly MBA Mortgage Index and the Durable Goods Orders report for August. The MBA Mortgage Index indicated that mortgage applications declined 0.7% in the week ending September 24. This followed a 7.3% decline in the prior week.Total durable goods orders were unchanged in August (consensus -1.9%), which was better than expected, while orders excluding transportation were down 0.4%, as expected. Total orders growth for July was revised down to 3.6% from 4.4% while growth in orders excluding transportation was also revised down to 1.1% from 1.5%.

Bullion prices ended lower at Comex on Wednesday, 28 September 2016. Gold futures settled lower on Wednesday for a second straight session as traders focused on Federal Reserve Chairwoman Janet Yellens testimony at a House hearing and upcoming comments this week from other speakers at the central bank.

December gold fell $6.70, or 0.5%, to settle at $1,323.70 an ounce, holding ground at its lowest levels in just over a week. Silver for December delivery shed 4.4 cents, or 0.2%, to $19.121 an ounce.

The heavily-weighted financial sector finished behind the broader market as participants responded to commentary from Federal Reserve Chair Janet Yellen.

Yellen didnt say much about monetary policy during her testimony before the House Financial Services Committee, but several Fed officials were slated to make remarks this week, which could have implications for currency and stock market trading n++ and influence demand for precious metals. On Tuesday, San Francisco Fed President John Williams told Reuters that he would support an increase-rate increase and that the central bank can raise rates without threatening the U.S. economy.

Treasuries ended on a lower note with yields rising through the curve. The yield on the 10-yr note finished higher by one basis point at 1.57%.

Todays participation was above the recent average as more than 903 million shares changed hands on the NYSE floor.

Tomorrows economic data will include the third estimate of second quarter GDP (consensus 1.3%), the third estimate for the second quarter GDP deflator (consensus 2.3%), weekly initial claims (consensus 259k), and International Trade in Goods for August, which will each cross the wires at 8:30 ET. Separately, Pending Home Sales for August (consensus 1.0%) will be released at 10:00 ET.

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L&T gains after winning orders
Sep 29,2016

The announcement was made during trading hours today, 29 September 2016.

Meanwhile, the BSE Sensex was up 146.92 points, or 0.52%, to 28,439.73.

On BSE, so far 9,891 shares were traded in the counter, compared with average daily volume of 1.66 lakh shares in the past one quarter. The stock hit a high of Rs 1,469 and a low of Rs 1,460 so far during the day. The stock hit a 52-week high of Rs 1,615 on 27 July 2016. 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 28 September 2016, sliding 1.26% compared with 0.18% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 2.73% as against Sensexs 4.79% rise.

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

L&T said power transmission a distribution business has won engineering, procurement and construction orders worth Rs 826 crore. Heavy civil infrastructure business has secured a prestigious order worth Rs 675 crore in the metro sector. Building & factories business has bagged a residential project worth Rs 434 crore from a renowned client. Transportation infrastructure business has secured additional orders worth Rs 111 crore in its various ongoing projects.

L&Ts consolidated net profit rose 45.51% to Rs 609.60 crore on 9.33% growth in net sales to Rs 21718.61 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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Shares of Ishaan Infrastructures & Shelters get listed
Sep 29,2016

The equity shares of Ishaan Infrastructures & Shelters (Scrip Code: 540134) are listed effective 29 September 2016 and admitted to dealings on the Exchange in the list of XT Group Securities

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Panacea Biotec provides update on supply of Cilamin 250 capsules
Sep 29,2016

Panacea Biotec announced that the Companys brand Cilamin 250 capsules for treatment of Wilsons disease, Rheumatoid Arthritis and other conditions has been made available in limited quantities in the retail market.

The temporary shortage is due to sudden disruption of supplies of raw materials by qualified supplier beyond the control of the Company. Due to continuous efforts the Company has resumed limited production of Cilamin 250 and has released limited quantities in the market from 29 September 2016.

The Company expects it would take additional 2-4 weeks for accessing the additional quantities of raw material and additional 4 weeks for Cilamin 250 supplies to normalise.

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Eros International gains after tie up with UAE firm
Sep 29,2016

Meanwhile, the BSE Sensex was up 145.11 points, or 0.51%, to 28,437.92.

On BSE, so far 27,000 shares were traded in the counter, compared with average daily volume of 79,128 shares in the past one quarter. The stock hit a high of Rs 220.50 and a low of Rs 216 so far during the day. The stock hit a 52-week high of Rs 540.90 on 30 September 2015. The stock hit a 52-week low of Rs 125.90 on 29 February 2016. The stock had underperformed the market over the past 30 days till 28 September 2016, falling 4.16% compared with 0.18% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 0.78% as against Sensexs 4.79% rise.

The small-cap company has equity capital of Rs 93.60 crore. Face value per share is Rs 10.

Eros International Media, Indias leading global company in the Indian film industry, announced its association with UAEs largest film distribution and exhibition network (Hollywood & Bollywood), Phars Film. The partnership will entail the two companies jointly co-producing Malayalam films along with exploration of theatrical rights between the two entities. The deal licenses Eros to exploit the distribution of all Malayalam movies produced jointly in India, while Phars Films would present the same overseas where it enjoys a dominant market share.

On a consoldiated basis, net profit of Eros International Media rose 11.20% to Rs 58.87 crore on 13.61% decline in net sales to Rs 408.17 crore in Q1 June 2016 over Q1 June 2015.

Eros International Media operates in the Indian film entertainment industry. It acquires, co-produces and distributes Indian films across all available formats such as cinema, television and digital new media.

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Precious metals drop
Sep 29,2016

Bullion prices ended lower at Comex on Wednesday, 28 September 2016. Gold futures settled lower on Wednesday for a second straight session as traders focused on Federal Reserve Chairwoman Janet Yellens testimony at a House hearing and upcoming comments this week from other speakers at the central bank.

December gold fell $6.70, or 0.5%, to settle at $1,323.70 an ounce, holding ground at its lowest levels in just over a week. Silver for December delivery shed 4.4 cents, or 0.2%, to $19.121 an ounce.

Yellen didnt say much about monetary policy during her testimony before the House Financial Services Committee, but several Fed officials were slated to make remarks this week, which could have implications for currency and stock market trading n++ and influence demand for precious metals. On Tuesday, San Francisco Fed President John Williams told Reuters that he would support an increase-rate increase and that the central bank can raise rates without threatening the U.S. economy.

Higher interest rates can boost the dollar and dull demand for dollar-denominated commodities. On Wednesday, the ICE U.S. Dollar Index edged up by 0.1%.

Todays economic data at Wall Street included the weekly MBA Mortgage Index and the Durable Goods Orders report for August. The MBA Mortgage Index indicated that mortgage applications declined 0.7% in the week ending September 24. This followed a 7.3% decline in the prior week.Total durable goods orders were unchanged in August (consensus -1.9%), which was better than expected, while orders excluding transportation were down 0.4%, as expected. Total orders growth for July was revised down to 3.6% from 4.4% while growth in orders excluding transportation was also revised down to 1.1% from 1.5%.

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Karnataka Bank signs MoU with Birla Sun Life AMC
Sep 29,2016

Karnataka Bank signed a Memorandum of Understanding with Birla Sun Life Asset Management Company for distribution of mutual fund products on 27 September 2016.

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JNPT Now Harnessing Solar Power
Sep 29,2016

Indias largest container port, Jawaharlal Nehru Port Trust (JNPT) will now harness solar energy and reduce its dependency on conventional electricity from the grid. JNPT is installing solar power plant on several rooftops in its township and commercial premises.

This green initiative by JNPT is part of its push towards becoming the most sustainable energy generation port organisation in India. Rooftop solar plants allows the use of roof of buildings, an area which is otherwise not usable, for sustainable energy generation also ensuring financial savings. With this new initiative, JNPT is expected to get a payback on its investment on rooftop solar within 2.5 years due to its high cost of grid electricity (around Rs. 14 per unit).

This 822 KWp of solar rooftop capacity is being installed at an expense of Rs 4.5 crore, supported by a 15% subsidy from SECI (part of Ministry of New and Renewable Energy). The 822 KWp project once commissioned will generate around 9.9 lakh units of electricity thereby saving around Rs.1.08 crore of electricity expense for JNPT in the first year. Out of this 411 KWp is commissioned at Rooftop solar installation at JNPT premises i.e. Hospital- 234 KW, St. Mary School- 45.6 KW, IES School- 36 KW in the township and Port User Building (PUB)- 96 KW.

The renewable energy of 234 KW generated from Rooftop solar installation at hospital has capacity of 25,350 KWh per month and is contributing 80% of approximate present consumption. The total 411 KWp will generate around 4.95 lakh units of electricity in year 1 contributing to 40% of approximate present consumption of these 4 premises, thereby saving around Rs. 0.54 crore of electricity expense for JNPT in the first year.

This is a small but a significant step in the Central governments widespread initiative to promote solar energy in our country and will contribute to the governments ambitious target of having 1,00,000 MW of solar capacity installed in India by 2022.

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