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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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Mic Electronics advances on fund raising plan
Mar 29,2017

The announcement was made after market hours yesterday, 28 March 2017.

Meanwhile, the S&P BSE Sensex was up 65.82 points, or 0.22%, to 29,466.10. The S&P BSE Small-Cap index was up 49.31 points or 0.35% to 14,202.68.

On the BSE, 1.21 lakh shares were traded in the counter so far, compared with average daily volume of 2.2 lakh shares in the past one quarter. The stock had hit a high of Rs 13.75 and a low of Rs 13.50 so far during the day.

The small-cap company has equity capital of Rs 35.39 crore. Face value per share is Rs 2.

The proposed allocation price of Rs 20 per share was at a premium of 46.52% to the ruling price of Rs 13.65.

MIC Electronics manufactures LED video displays, high-end electronic and telecommunication equipment and development of telecom software.

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Flat finish for bullions
Mar 29,2017

Bullion metals ended little higher at Comex on Tuesday, 29 March 2017. Gold futures traded flat on Tuesday as investors weighed the outlook for the Trump administrations fiscal-policy agenda following last weeks failed effort at overhauling the Affordable Care Act, known as Obamacare.

Gold for April delivery on Comex rose $1.50, or 0.1%, to $1,257 an ounce, while May silver was up 9.7 cents, or 0.5%, at $18.205 an ounce.

So far this week, the ICE U.S. Dollar Index has lost 0.6%. It traded nearly flat on Tuesday. U.S. equities traded on a mixed note for the session, with the Dow Industrials trying to snap an eight day losing streak.

Gold had rallied Monday, finding support as equities, the dollar and Treasury yields retreated following the decision by Trump and House Republican leaders late Friday to pull health-care legislation from the floor amid opposition from conservatives and centrists within their own party.

Among economic reports expected for the day, the consumer confidence reading for March rose to 125.6 from the prior months revised reading of 116.1 (from 114.8). The consensus expected the survey to hit 113.3. The key takeaway from this report is that consumers were emboldened by a positive view of current business and labor market conditions. There was an improvement in the short-term outlook for business, jobs, and personal income prospects, and more upside is expected on these fronts.

The Advance report for International Trade in Goods for February showed a deficit of $64.8 billion (consensus -$66.1 billion), up from a revised deficit of $68.8 billion for January (from $69.2 billion). The Advance report for February Wholesale Inventories increased 0.4% (consensus 0.2%). The prior months reading was revised to -0.2% from -0.1%. Separatrely, the January Case-Shiller 20-city Index hit 5.7% to follow last months revised 5.5% increase (from 5.6%). The consensus expected a reading of 5.6%.

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Board of Autolite (India) allots 6 lakh equity shares on conversion of warrants
Mar 29,2017

Autolite (India) announced that the Board of Directors of the company at its meeting held on 28 March 2017 has allotted 6 lakh equity shares of Rs 10 each at a premium of Rs 8 per share on conversion of warrants. With this allotment, the paid up capital of the Company has increased to Rs 11.18 crore.

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Board of Modern Insulators allots equity shares under scheme of amalgamation
Mar 29,2017

The Board of Directors of Modern Insulators at its meeting held on 28 March 2017 have allotted equity shares to the shareholders of erstwhile Modern Terry Towels whose name appear in the Register of Members in the exchange ratio mentioned in the scheme of amalgamation approved by Honble BIFR.

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Outcome of board meeting of India Motor Parts & Accessories
Mar 29,2017

India Motor Parts & Accessories announced that the Board of Directors of the Company at its meeting held on 28 March 2017 has given its approval for the Company to enter into a Memorandum of Understanding for investing Rs 3.80 crore towards 76% stake in the equity of a private limited company, which will take over business of Central Automobiles, a partnership firm in Ahmedabad, Gujarat. The proposed transaction is expected to be completed by Q1/ by early Q2 in 2017-18 and the new private limited company will become a subsidiary of IMPAL.

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Board of Dynacons Systems & Solutions takes note of new subsidiary incorporated in Singapore
Mar 29,2017

Dynacons Systems & Solutions announced that the Board of Directors of the Company at its meeting held on 28 March 2017 has taken on record the incorporation of a new subsidiary named Dynacons Systems & Solution Pte. Ltd on 28 March 2017 having registered office in Singapore.

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Mold-Tek Packaging revises record date for interim dividend
Mar 29,2017

Mold-Tek Packaging has revised the record date for payment of interim dividend for FY 2017 to 11 April 2017 instead of 07 April 2017.

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Vardhman Special Steels fixes record date for rights issue
Mar 29,2017

Vardhman Special Steels has fixed 10 April 2017 as the record date for proposed rights issue. The Committee of Directors (Rights Issue) at its meeting held on 28 March 2017 has approved the issue, for offer of 1,35,70,000 equity shares of face value of Rs 10 each at an issue price of Rs 50 per equity share (including premium of Rs 40 per share). The issue comprises of issue of 1,23,70,000 rights equity shares to eligible equity shareholders and reservation of up to 12,00,000 equity shares for eligible employees.

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JSW Steel provides update on proposed issue of foreign currency denominated notes
Mar 29,2017

JSW Steel announced that the Finance Committee in its meeting held on 29 March 2017 has approved the preliminary offering circular in relation to the Notes issuance by the Company.

The Board of Directors of the Company in its meeting held on 27 July 2016 has approved to raise long term funds through the issuance of non-convertible foreign currency/ Rupee denominated senior unsecured fixed rate bonds up to USD 750 million, in one or more tranches, in the international markets either by the Company or by any of its subsidiaries backed by corporate guarantee of the Company.

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Dilip Buildcon bags NHAI road project valued Rs 503.10 crore
Mar 29,2017

Dilip Buildcon has been declared as the Lowest-1 (L-1) bidder for the project of 4 Laning, Rehabilitation and Upgradation of NH-4 from Nalagampalli to AP/Karnataka Border from Km 171.590 (Design km 172.00) to Km 216.912 (Design km 219.687) (Design length = 47.687 Km) under NHDP-IV in the State of Andhra Pradesh on EPC mode. The contract amount for this Four Lane NHAI project on EPC mode in the state of Andhra Pradesh project, to be executed on EPC basis, is Rs. 503.10 crore with 24 months of completion period.

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Hindustan Zinc may drop on ex-dividend
Mar 29,2017

Shares of Hindustan Zinc turn ex-dividend today, 29 March 2017 for special dividend of Rs 27.50 per share for the year ending 31 March 2017.

Coffee Day Enterprises said that step-down subsidiary of the company Way2Wealth Brokers Private Limited has transferred entire 100% shares in its subsidiary namely Way2Wealth Illuminati Pte. to Alphagrep Securities, a fellow subsidiary with effect from 28 March 2017. The announcement was made after market hours yesterday, 28 March 2017.

Balasore Alloys said that the committee for preferential issue of warrants of the board of directors will be held on 31 March 2017 for allotment of 1 crore shares at Rs 21.50 per shares in lieu of 1 crore convertible warrants to the promoters on preferential basis pursuant to the authority given by the shareholders through postal ballot notice on 26 September 2016.

The company said that out of the 2.30 crore convertible warrants the remaining 1.30 crore warrants shall be converted into equity shares in the financial year 2017-18. The announcement was made after market hours yesterday, 28 March 2017.

Sundaram Fasteners announced that on 27 March 2017, the company acquired 16.80 lakh equity shares or 24% from Bleistahl Produktions GmbH & Co. KG (Bleistahl), in the share capital of Sundram Precision Components (SPCL), formerly Sundram Bleistahl, a subsidiary of the company. The company has acquired the equity shares from Bleistahl in SPCL for a cash consideration at Rs 31.45 per share.

With this acquisition, our company has 100% equity stake in SPCL compared to earlier holding of 76% and SPCL has thus become a wholly owned subsidiary of the company with effect from 27 March 2017. The announcement was made after market hours yesterday, 28 March 2017.

Karnataka Bank announced that it opened its 759th and 760th branch at Bengaluru. The announcement was made after market hours yesterday, 28 March 2017.

Mic Electronics announced that the meeting of the board of directors of the company is scheduled to be held on 31 March 2017 to consider and approve the allotment of 4.32 crore shares at Rs 20 per share to non-promoters. The announcement was made after market hours yesterday, 28 March 2017.

Himachal Futuristic Communications announced that debentures allotment committee of the board of directors of the company at a meeting held on 28 March, 2017 has approved the allotment of 10.3%, 29.49 lakh secured unlisted non-convertible debentures (NCDs) of the company of Rs 100 each aggregating to Rs 29.49 crore on private placement basis by way of conversion of outstanding right of recompense amount payable to the banks. The announcement was made after market hours yesterday, 28 March 2017.

Indowind Energy announced the successful re-powering of 1.920 megawatts (MW) wind farm capacity at Hanumsagar, Karnataka & has commenced make change of 3.025 MW wind farm capacity at Tirunelveli, Tamil Nadu after obtaining necessary approval from TANGEDCO. It is expected to generate additional yearly revenue of around Rs 2.5 crore. The announcement was made after market hours yesterday, 28 March 2017.

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AAI, DRDO and Govt. of Jharkhand Signed a Tripartite MoU for Development of Deoghar Airport in Deoghar district of Jharkhand
Mar 28,2017

Airports Authority of India, Defense Research and Development Organization (DRDO) and Govt. of Jharkhand signed a tripartite MoU for development of Deoghar Airport in Deoghar district of Jharkhand. The existing Deoghar Airport will be developed for operations of A-320 and C-130 Aircraft. Signing of MoU took place in a ceremony held at the CM Residence.

The Govt. of Jharkhand has acquired 600.34 acres of land which will be handed over to AAI apart from the existing 53.41 acres Deoghar Airport land. D.R.D.O, Govt. of Jharkhand and AAI will provide Rs. 200 Crores, Rs. 50 Crores respectively to develop, operationalize and maintain the airport. The time frame given to develop and operationalize the Deoghar Airport is two years.

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Value of Output of Milk at Current Prices Rs.5,00,405 Crore in 2014-15
Mar 28,2017

As per National Account Statistics Report, 2016, the value of output of milk at current prices was Rs.5,00,405 crore in 2014-15, while at constant prices (2011-12) it was 3,89,846 crore. As compared to last year, the growth in value of output of milk is about 7.4 percent at constant prices.

As per National Dairy Development Board, it is estimated that out of total milk production 46% is consumed locally, and 54% is marketable surplus. The share of organized sector in the total marketable surplus of milk is about 30%, while the balance 70% is handled by the unorganized sector. Of the total organized liquid milk market, the cooperatives and private dairy sector have almost equal share.

The GDP estimates of milk industry are not available separately, although, the contribution of livestock sector to the countrys GDP is about 4 percent. Also, the share of value of output of milk group in the total livestock sector is about 67%.

Dairy is an important source of additional income for the farmers. Availability of milk processing facility and other infrastructure will benefit the farmers through value addition. A large number of milk processing units set up under the Operation Flood Programme has since become old and obsolete. A Dairy Processing and Infrastructure Development Fund would be set up in NABARD with a corpus of Rs. 8,000 crores over 3 years. Initially, the Fund will start with a corpus of Rs. 2,000 crores.

Currently milk cooperatives convert about 20% of milk procurement into conventional & other Value Added Products.

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Rupee slips a tad
Mar 28,2017

Rupee closed lower at 65.0650/0850 per dollar on Tuesday (28 March 2017), versus its previous close of 65.0350/0450 per dollar.

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Markets were closed
Mar 28,2017

Indias currency markets were closed on Tuesday (28 March 2017) for a public holiday. The trading will resume on Wednesday. Previous close is 65.0350/0450 per dollar.

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