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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 receieves order from EESL
Dec 09,2016

MIC Electronics announced that the Company have received Letter of Award for supply 20,000 Standalone Off Grid Solar LED Street Lights with contract price of Rs. 32.85 crore. This is an initial release against the total quantity of 80,000 Nos expected from EESL in due course. The balance contract value expected is to the tune of Rs.98.56 crore.

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UPL provides update on Mauritius subsidiary - UPL Corporation
Dec 09,2016

UPL announced that UPL Corporation, a wholly owned subsidiary of UPL , based in Mauritius, has sold its shares held in Villa Crop Protection (Pty) to an affiliate of Land O Lakes Inc., an American company. UPL Corporation owned 19.22% of the shares in Villa Crop Protection (Pty) . For sale of the shares, UPL Corporation has received approximately Rs. 22 crore.

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Wockhardt gets revision in credit ratings
Dec 09,2016

Wockhardt announced that Credit Analysis & Research (CARE Rating) has re-affirmed the Companys Rating for total Working Capital limit as CARE AA and CARE A1+ for Long - Term Bank Facilities (Fund Based) and Short Term Bank Facilities (Non Fund Based) respectively.

Further, India Ratings and Research has re-affirmed the short-term Bank facilities rating at IND A1+ and assigned the Companys long-term loan facilities rating to IND AA- from IND AA.

CARE Rating has also assigned CARE AA rating for the proposed issue of NCDs of Rs. 250 crore of the Company.

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Quess Corp completes acquisition of Terrier Security Services (India)
Dec 09,2016

Quess Corp announced that the Company has completed the acquisition of 49% equity in Terrier Security Services (India), on 09 December 2016.

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Gayatri Projects builds on good Q2 results
Dec 09,2016

The announcement was made after market hours yesterday, 8 December 2016.

Meanwhile, the BSE Sensex was up 87.52 points, or 0.33%, to 26,781.80.

More than usual volumes were witnessed on the counter. On the BSE, 6,899 shares were traded in the counter so far, compared with average daily volume of 4,656 shares in the past one quarter. The stock had hit a high of Rs 644 and a low of Rs 619.10 so far during the day. The stock had hit a record high of Rs 790 on 23 September 2016. The stock had hit a 52-week low of Rs 482 on 17 February 2016.

The stock had underperformed the market over the past 30 days till 8 December 2016, falling 6.41% compared with 3.25% fall in the Sensex. The scrip had also underperformed the market in past one quarter, falling 7% as against Sensexs 8.09% decline.

The small-cap company has equity capital of Rs 35.45 crore. Face value per share is Rs 10.

Gayatri Projects is a Hyderabad-based infrastructure and construction company with a presence across the segment, and a special focus on road and irrigation projects.

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Quantity of wastage of foodgrains in FCI reduce to 3115 tons in 2015-16
Dec 09,2016

Quantity of foodgrains accrued as damaged/non issuable in Food Corporation of India (FCI) during last three years is given below: YearQuantity in tons2013-1424695.4552014-1518847.2262015-163115.684

Government has enough stocks of foodgrains to meet the demands of the Public Distribution System (PDS) and other welfare schemes. Stock position of foodgrains in Central Pool against the Stocking Norms as on 01.10.2016 is given below:
Figure in lakh tons

CommodityStocking Norms as onn++ 01.10.2016Stock in Central Pool as on 01.10.2016Stock of foodgrains over and above Stocking NormsWheat195.20213.2818.08Rice112.50158.7246.22

Scientifically constructed godowns provide adequate protection and are used for storage of Central Pool foodgrains. As on 31.10.2016, total 782.99 lakh ton capacity (including State Government/agencies capacity) is available for storage of Central Pool foodgrains. There are already standing instructions for preservation of foodgrains in godowns holding Central foodgrain stocks.

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M&M slips on plans of no production days at some plants on need basis
Dec 09,2016

The announcement was made after market hours yesterday, 8 December 2016.

On the BSE, 43,890 shares were traded on the counter so far as against the average daily volumes of 78,604 shares in the past one quarter. The stock had hit a high of Rs 1,217.45 and a low of Rs 1,190 so far during the day.

The stock had hit a record high of Rs 1,508.80 on 9 August 2016 and a 52-week low of Rs 1,092 on 12 February 2016. It had underperformed the market over the past one month till 30 November 2016, sliding 12.88% compared with the Sensexs 4.57% fall. The scrip had also underperformed the market in the past one quarter, declining 19% as against the Sensexs 5.96% fall.

The large-cap company has equity capital of Rs 310.55 crore. Face value per share is Rs 5.

Mahindra & Mahindra (M&M) announced that the company will be undertaking scheduled maintenance shutdown at some of its automotive and tractor plants in December, 2016. It will also observe on need basis few days as no production days at some of its automotive and/or tractor plants including Chakan plant of its wholly owned subsidiary Mahindra Vehicle Manufacturers as part of its efforts to optimize inventories during December year-end.

The management does not envisage any adverse impact on the availability of products in the market due to adequacy of stocks to serve the market requirements.

M&Ms net profit rose 27.1% to Rs 1163.27 crore on 13.8% growth in net sales to Rs 10411.67 crore in Q2 September 2016 over Q2 September 2015.

M&M enjoys a leadership position in tractors and utility vehicles in India.

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M&M slips after plans of no production days at some plants on need basis
Dec 09,2016

The announcement was made after market hours yesterday, 8 December 2016.

On the BSE, 43,890 shares were traded on the counter so far as against the average daily volumes of 78,604 shares in the past one quarter. The stock had hit a high of Rs 1,217.45 and a low of Rs 1,190 so far during the day.

The stock had hit a record high of Rs 1,508.80 on 9 August 2016 and a 52-week low of Rs 1,092 on 12 February 2016. It had underperformed the market over the past one month till 30 November 2016, sliding 12.88% compared with the Sensexs 4.57% fall. The scrip had also underperformed the market in the past one quarter, declining 19% as against the Sensexs 5.96% fall.

The large-cap company has equity capital of Rs 310.55 crore. Face value per share is Rs 5.

Mahindra & Mahindra (M&M) announced that the company will be undertaking scheduled maintenance shutdown at some of its automotive and tractor plants in December, 2016. It will also observe on need basis few days as no production days at some of its automotive and/or tractor plants including Chakan plant of its wholly owned subsidiary Mahindra Vehicle Manufacturers as part of its efforts to optimize inventories during December year-end.

The management does not envisage any adverse impact on the availability of products in the market due to adequacy of stocks to serve the market requirements.

M&Ms net profit rose 27.1% to Rs 1163.27 crore on 13.8% growth in net sales to Rs 10411.67 crore in Q2 September 2016 over Q2 September 2015.

M&M enjoys a leadership position in tractors and utility vehicles in India.

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Volumes jump at Siti Networks counter
Dec 09,2016

Siti Networks clocked volume of 1.03 crore shares by 14:17 IST on BSE, a 19.63-times surge over two-week average daily volume of 5.26 lakh shares. The stock rose 4.55% at Rs 36.80.

Karur Vysya Bank notched up volume of 8.65 lakh shares, a 14.3-fold surge over two-week average daily volume of 60,000 shares. The stock was up 0.79% at Rs 83.40.

Tanla Solutions saw volume of 33.10 lakh shares, a 10.74-fold surge over two-week average daily volume of 3.08 lakh shares. The stock was locked at 20% upper circuit at Rs 59.90.

Intellect Design Arena clocked volume of 9.40 lakh shares, a 8.94-fold surge over two-week average daily volume of 1.05 lakh shares. The stock jumped 17.31% at Rs 170.10.

Deep Industries saw volume of 2.23 lakh shares, a 8.24-fold rise over two-week average daily volume of 27,000 shares. The stock surged 14.46% at Rs 285.

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CEM legislation to come soon: Secretary, Department of Heavy industries
Dec 09,2016

Construction Equipment Manufacturing (CEM) legislation to come soon stated Girish Shankar, Secretary, Department of Heavy Industry, the bill will concern regulations for construction equipment which are not wheeled and use of spurious parts, which though cheap, is detrimental to the equipment said at an ASSOCHAM event.

The Industry has to gear up for better quality and adoption of right technology. The government is setting up the experience centre for advanced manufacturing as 4.0 industrial revolutions is already there, said Mr. Shankar.

n++Industry has conveyed to us the problems in leasing, particularly that of multiple taxationn++. We assure that our department will take up your case with the Finance Ministry, said Mr. Shankar.

India has emerged as one of the most attractive destinations for leading global investors with over 7% real GDP growth. The government is laying emphasis to achieve double digit growth, by following proactive, holistic and integrated approach, said Mr. Shankar.

He further said, Construction sector has an important place in the Indian economy. It is the second largest contributor to economic activity accounting for about 8% of GDP. It accounts for the second highest inflow of FDI after the service sector. It generates the highest level of direct and indirect jobs employing about 40 million people and creating 2.7 new jobs indirectly for every Rs 1.00 lakh invested. The sector has major forward (infrastructure, real estate, manufacturing) and backward (steel, cement etc) linkages, implying a high multiplier effect on economic growth, almost two times.

The demand for construction services is expected to rise manifolds due to several factors like massive expansion of the infrastructure sector, industrialisation, urbanisation rise in disposable incomes and various government, added Mr. Shankar. In the next three years we are going to invest around 1 trillion US$ in infrastructure sector.

n++We have planned to build 50 million houses by 2022. In addition, we are developing smart cities and mega industrial corridors. We are also modernising our railway systems including signals, engines and railway stations. We are planning metro rail in 50 cities and high speed trains in various corridorsn++.

Similarly, we have planned to construct on an average 15 km of National Highways every day. We are putting up new ports and modernising the old ones through and ambitious plan called Sagarmala.

The focus is on upgrading the existing airports and putting up regional airport to enhance connectivity to places of economic and tourist importance.

n++My department has also been active in reforming policies leading to creating better eco-system. We have released our first ever National policy for capital goods sector with a clear objective of trebling manufacturing base to Rs. 75,000 crores by 2025 and raising direct and indirect employment from the current 8.4 to 30 million.

The policy also aims to facilitate improvement in technology depth across sub- sectors, increase skill availability, ensure mandatory standards and promote growth and capacity building of MSMEs.

This policy document has tried to identify and address issues relating to all sectors. For construction equipment industry, major bottleneck identified are to expand capacity, need for quality checks requiring regulations to stop usage of spurious spare parts, complex taxation structure, unfriendly tax clearance mechanism and issues with the skill development, said the secretary .

To make essential infrastructure facilities of Industrial Training Institutes (ITIs) available to Infrastructure Equipment Skill Council (IESC) certified Training partners in a phased manner.

We need to continue to focus on the existing sstong government and industry partnership which will help to ensure bridging the technological gaps that exist and further create a roadmap for a robust growth of the construction equipment and machinery sector in India.

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Biocon features in Asia IP Elite 2016 List
Dec 09,2016

Biocon has been recognised for its world class intellectual property management and IP value creation in the Asia region by IP Business Congress Asia and has made its debut on the prestigious Asia IP Elite 2016 list. Biocon is the only pharmaceutical company out of the six Indian companies included in this exclusive group.

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IL&FS Engineering gains after emerging lowest bidder for rural electrification works
Dec 09,2016

The announcement was made after market hours yesterday, 8 December 2016.

On the BSE, 2,621 shares were traded on the counter so far as against the average daily volumes of 46,726 shares in the past one quarter. The stock had hit a high of Rs 45.35 and a low of Rs 44.25 so far during the day. The stock had hit a 52-week high of Rs 71.55 on 14 December 2015 and a 52-week low of Rs 36.80 on 22 November 2016.

The stock had underperformed the market over the past 30 days till 8 December 2016, falling 4.31% compared with 3.25% fall in the Sensex. The scrip had also underperformed the market in past one quarter, falling 22.78% as against Sensexs 8.09% decline.

The small-cap company has equity capital of Rs 121.16 crore. Face value per share is Rs 10.

IL&FS Engineering and Construction Company has emerged as the lowest bidder for rural electrification (RE) works of Jharkhand Bijli Vitran Nigam (JBVNL), Ranchi worth Rs 225 crore in package of Sahibganj comprising Sahibganj and Pakur districts in Jharkhand state under Deen Dayal Upadhyay Gram Jyoti Yojana (DDUGJY).

DDUGJY-RE contracts are being funded by Rural Electrification Corporation (REC). The completion schedule of the works is 24 months.

IL&FS Engineering Services has been involved in rural electrification works in the states of West Bengal, Rajasthan, Orissa, and Uttar Pradesh.

IL&FS Engineering and Construction Company reported net loss of Rs 80.67 crore in Q2 September 2016 compared with net loss of Rs 81.87 crore in Q2 September 2015. Net sales rose 1.4% to Rs 356.87 crore in Q2 September 2016 over Q2 September 2015.

IL&FS Engineering and Construction Company is into infrastructure development, construction and project management.

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Board of CG-Vak Software & Exports to appoint company secretary
Dec 09,2016

CG-Vak Software & Exports announced that the meeting of the Board of Directors of the Company will be held on 15 December 2016, to consider and approve the appointment of Company Secretary and Compliance Officer.

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Board of Majestic Research Services & Solution allots equity shares
Dec 09,2016

Majestic Research Services & Solution announced that the Board of Directors of the Company at its meeting held on 09 December 2016 approved the allotment of 8,76,000 equity shares of face value of Rs 10 each for cash at a price of Rs 114 per equity share aggregating Rs 9.98 crore.

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Banco Products slides after dropping buyback proposal
Dec 09,2016

The announcement was made after market hours yesterday, 8 December 2016.

Meanwhile, the S&P BSE Sensex was up 63.72 points or 0.24% at 26,758.

On the BSE, 55,000 shares were traded on the counter so far as against the average daily volumes of 47,949 shares in the past one quarter. The stock had hit a high of Rs 189.30 and a low of Rs 180.15 so far during the day.

The stock had hit a record high of Rs 241.50 on 6 September 2016 and a 52-week low of Rs 90.30 on 25 February 2016. It had underperformed the market over the past one month till 8 December 2016, sliding 5.41% compared with the Sensexs 3.25% fall. The scrip had also underperformed the market in the past one quarter, declining 15.24% as against the Sensexs 8.09% fall.

The small-cap company has equity capital of Rs 14.30 crore. Face value per share is Rs 2.

Banco Products (India) had announced on 28 November 2016 about its board meeting on 8 December 2016, to consider share buyback proposal.

On a consolidated basis, Banco Products (India)s net profit rose 28.3% to Rs 31.98 crore on 8.5% growth in net sales to Rs 352.39 crore in Q2 September 2016 over Q2 September 2015.

Banco Products (India) was founded in 1961, with the purpose to design and manufacture radiators and gaskets as an import substitute for the Indian original equipment manufacturer (OEM) industry, railways and defense sector.

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