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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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Gujarat Credit Corporation to hold AGM
Aug 29,2016

Gujarat Credit Corporation announced that the th Annual General Meeting(AGM) of the company on 27 September 2016.

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Kharif Crop Sowing Crosses 1019 Lakh Hectare Areas
Aug 29,2016

The total sown area as on 26th August, 2016 as per reports received from States, stands at 1019.10 lakh hectare as compared to 973.40 lakh hectare at this time last year.

It is reported that rice has been sown/transplanted in 363.07 lakh ha, pulses in 139.42 lakh ha, coarse cereals in 182.99 lakh ha, oilseeds in 177.74 lakh ha, sugarcane in 45.55 lakh hectare and cotton in 102.78 lakh ha.

The details of the area covered so far and that covered during this time last year are given below:

Lakh hectare 

Crop

Area sown in 2016-17

Area sown in 2015-16

Rice363.07352.23Pulses139.42103.85Coarse Cereals182.99172.73Oilseeds177.74174.58Sugarcane45.5549.60Jute & Mesta7.567.73Cotton102.78112.68Total1019.10973.40

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ITC slips after bulk deal
Aug 29,2016

Meanwhile, the S&P BSE Sensex was down 9.49 points, or 0.03%, to 27,772.76

Bulk deal boosted volume on the scrip. On BSE, so far 12.41 lakh shares were traded in the counter, compared with average daily volume of 8.69 lakh shares in the past one quarter. The stock hit a high of Rs 254 and a low of Rs 251 so far during the day. The stock hit a 52-week high of Rs 262 on 2 August 2016. The stock hit a 52-week low of Rs 178.67 on 29 February 2016. The stock had outperformed the market over the past 30 days till 26 August 2016, falling 0.06% compared with Sensexs 1.51% fall. The scrip also outperformed the market in past one quarter, gaining 5.89% as against Sensexs 4.23% rise.

The large-cap company has an equity capital of Rs 1209.96 crore. Face value per share is Re 1.

ITCs after net profit rose 10.09% to Rs 2384.67 crore on 10.07% increase in total income to Rs 10474.56 crore in Q1 June 2016 over Q1 June 2015.

ITC is a diversified company, with presence in cigarettes, hotels, paperboards & specialty papers, packaging, agri-business, packaged foods & confectionery, information technology, branded apparel, personal care, stationery and other FMCG products. ITC is a market leader in cigarettes.

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Piramal Enterprises slips after denying interest in acquiring a power plant
Aug 29,2016

Meanwhile, the BSE Sensex was up 14.75 points, or 0.05%, to 27,797.

On BSE, so far 9,934 shares were traded in the counter, compared with average daily volume of 30,619 shares in the past one quarter. The stock hit a high of Rs 1,845 and a low of Rs 1,782.70 so far during the day. The stock hit a record high of Rs 2,095 on 22 August 2016. The stock hit a 52-week low of Rs 805 on 18 September 2015. The stock had outperformed the market over the past 30 days till 26 August 2016, rising 15.20% compared with 1.51% slide in the Sensex. The scrip had also outperformed the market in past one quarter, rising 32.78% as against Sensexs 4.23% rise.

The large-cap company has equity capital of Rs 34.51 crore. Face value per share is Rs 2.

Piramal Enterprises issued the clarification after media reports suggested that Piramal Enterprises was among the potential suitors that have expressed a preliminary interest in the plant during a pre-bid meeting held by Rajasthan Rajya Vidyut Utpadan Nigam. The Chhabra thermal power plant is one of Rajasthans coal fired power plants. It is located at Chowki Motipura of tehsil Chhabra in Rajasthans Baran district. The Rajasthan government has reportedly decided to divest the Chhabra plant as well as the Kalisindhi plant in a bid to reduce losses. The Chhabra plant has four operational units of 250 megawatts (MW) each and two under construction units of 660 MW each, according to reports.

On consolidated basis, Piramal Enterprises net profit rose 36.3% to Rs 230.93 crore on 26.7% growth in net sales to Rs 1761.05 crore in Q1 June 2016 over Q1 June 2015.

Piramal Enterprises is one of Indias large diversified companies, with a presence in healthcare, healthcare information management and financial services.

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NBCC (India) to pay dividend for FY 2016
Aug 29,2016

NBCC (India) announced that Dividend for the financial year 2015-16, if approved by shareholders in the forthcoming 56th Annual General Meeting of the Company to be held on 14 September 2016 will be payable on or before 10 October 2016.

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Gujarat Industries Power slips after reporting flat Q1 bottom line
Aug 29,2016

The company announced its Q1 result during market hours today, 29 August 2016.

Meanwhile, the S&P BSE Sensex was down 18.26 points or 0.07% to 27,753.22

On BSE, so far 4,383 shares were traded in the counter as against average daily volume of 17,099 shares in the past one quarter. The stock hit a high of Rs 90.45 and a low of Rs 89.15 so far during the day. The stock had hit a 52-week high of Rs 99 on 13 July 2016. The stock had hit a 52-week low of Rs 67 on 8 September 2015. The stock had outperformed the market over the past 30 days till 26 August 2016, rising 1.16% compared with Sensexs 1.51% fall. The scrip also outperformed the market in past one quarter, gaining 9.03% as against Sensexs 4.23% rise.

The power generation firm has equity capital of Rs 151.25 crore. Face value per share is Rs 10.

Gujarat Industries Power Company is engaged in the business of electrical power generation.

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Mixed finish for US stocks following rate commentery
Aug 29,2016

US stocks ended a downbeat week on a flat note on Friday, 26 August 2016 as commentary from the Jackson Hole Symposium boosted U.S. rate hike expectations and weighed on the major averages. The Dow Jones Industrial Average settled behind the S&P 500 and the Nasdaq Composite. Equity indices enjoyed a modest bid at the start of the session as investors pored over a less-hawkish-than-feared interpretation of Fed Chair Yellens seminal address. Chair Yellen indicated that the case for a rate hike had improved in recent months, but she also acknowledged that monetary policy is not on a preset course.

The Dow Jones Industrial Average and the S&P 500 index finished lower after comments from Fed Vice Chairman Stanley Fischer doubled down on a speech by Federal Reserve Chairwoman Janet Yellen that asserted the case for a rate increase is gathering steam.

The Dow Jones Industrial Average fell 53.01 points, or 0.3%, to finish at 18,395.40, backing off an earlier 124-point gain, but paring a 113-point loss. The S&P 500 index fell 3.43 points, or 0.2%, to close at 2,169.04. The Nasdaq Composite Index rose 6.71 points, or 0.1%, to finish at 5,218.92, after being up about 41 points earlier and down as low as 20 points during the session.

Seven of the 10 index sectors finished in the red. All 10 had been positive earlier in the session. Telecom and utilities, often seen as bond proxies, led the charge lower, while health-care, tech, and financials finished slightly higher. Shares of Verizon Communications and McDonalds led blue-chip decliners.

The dollar saw volatile trading after Federal Reserve Chairwoman Janet Yellens speech at the Kansas City Feds annual economic symposium at Jackson Hole, Wyoming. She said the case for an increase in the federal-funds rate had strengthened in recent months, but would remain dependent on what incoming data say about the U.S. economy. Chair Yellen indicated that the case for a rate hike had improved in recent months, but she also acknowledged that monetary policy is not on a preset course.

Janet Yellen sent a strong signal the U.S. central bank is preparing to increase rates as soon as next monthn++and Fischers comments furthered that assumption. An increase in U.S. interest rates tends to lift the dollar, which would make oil more expensive for traders who conduct business in other currencies.

But the dollar then turned decidedly higher after Fed Vice Chairman Stanley Fischer, said Yellens speech was n++consistentn++ with the possibility of two rate increases this year. Fischer, however, also said that the August jobs report will influence the central banks rate decision, echoing Yellens emphasis on the importance of incoming economic data.

Meanwhile, Cleveland Fed President Loretta Mester on Friday echoed the recent hawkish sentiments of other Fed members, saying n++it makes sensen++ to start moving interest rates higher.

Bullion prices settled modestly higher on Friday, 26 AUgust 2016 paring earlier gains, as traders eyed moves in the dollar following comments from two top Federal Reserve officials that hinted at a potential U.S. interest-rate hike as early as next month.

December gold tacked on $1.30, or 0.1%, to settle at $1,325.90 an ounce Friday. It had eased back from earlier highs above $1,344 that were hit as Yellen spoke and the U.S. ICE Dollar Index dropped. Gold futures were down about 1.5% for the week, the biggest weekly decline since the week ended July 15. December silver rose 13 cents, or 0.7%, to $18.745 an ounce, leaving the white metal with a 3.6% weekly drop.

Crude oil futures managed to hold on to a modest gain on Friday, 26 AUgust 2016 but finished well off the sessions highs as the U.S. dollar moved sharply higher. Comments from Federal Reserve Chairwoman Janet Yellen, at a closely watched symposium on Friday in Jackson Hole, Wyo., pointed to the potential for an increase in interest rates as early as next month, but she also said action by the central bank will still depend on coming economic data.

October West Texas Intermediate crude rose 31 cents, or 0.7%, to settle at $47.64 a barrel on the New York Mercantile Exchange. It was trading at $47.39 before Yellens speech and touched highs above $48 as she spoke. For the week, prices lost about 3% following gains over the last three weeks.

Ahead of the speech, a second estimate of second-quarter gross domestic product did little to boost stocks, underscoring that the U.S. economy is still muddling along, growing at a lackluster 1.1% pacen++slower than preliminary reading of 1.2% as corporate profits fell.

Among other economic reports, the trade gap narrowed to a seasonally adjusted $59.3 billion in July from $64.5 billion in June.

The University of Michigans final August reading of consumer sentiment slipped to 89.8 from 90.0 in July. The index is 2.3% lower than a year ago. Market had forecast a reading of 91.0.

Treasuries ended on a lower note as yields rose through the curve. The yield on the benchmark 10-yr note finished higher by four basis points (1.62%) while the yield on the 2-yr note finished at 0.84% (+5 bps).

Fridays participation was above the recent average as more than 797 million shares changed hands on the NYSE floor.

Mondays economic data will include July Personal Income (consensus 0.4%), Personal Spending (consensus 0.3%), and Core PCE Prices (consensus 0.1%), which will each be released at 8:30 ET.

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MEP Infra gains after winning toll collection rights in Jharkhand
Aug 29,2016

The announcement was made on Saturday, 27 August 2016.

Meanwhile, the BSE Sensex was down 30.27 points, or 0.11%, to 27,751.98.

On BSE, so far 6,679 shares were traded in the counter, compared with average daily volume of 1.30 lakh shares in the past one quarter. The stock hit a high of Rs 44.80 and a low of Rs 43.65 so far during the day. The stock hit a 52-week high of Rs 59.70 on 21 October 2015. The stock hit a record low of Rs 34.20 on 12 February 2016. The stock had underperformed the market over the past 30 days till 26 August 2016, falling 2.13% compared with 1.51% slide in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 6.22% as against Sensexs 4.23% rise.

The small-cap company has equity capital of Rs 162.57 crore. Face value per share is Rs 10.

The period of the toll collection contract is one year. The contractual amount for the project is Rs 87.30 crore payable to the National Highways Authority of India (NHAI) on a weekly basis over a period of one year. The operations will commence from 14 September 2016 after complying the statutory formalities. The Commercial Operation Date (COD) will be achieved in the current quarter.

MEP Infrastructure Developers consolidated net profit declined 9.69% to Rs 10.06 crore on 2.14% rise in net sales to Rs 516.26 crore in Q4 March 2016 over Q4 March 2015.

MEP Infrastructure Developers is among the leading players in tolling operations in the road infrastructure sector.

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JBF Industries drops after poor Q1 result
Aug 29,2016

The result was announced after market hours on Friday, 26 August 2016.

Meanwhile, the S&P BSE Sensex was down 69.41 points, or 0.25%, to 27,712.84

On BSE, so far 9,185 shares were traded in the counter, compared with average daily volume of 20,633 shares in the past one quarter. The stock hit a high of Rs 204 and a low of Rs 195.95 so far during the day. The stock hit a 52-week high of Rs 255 on 29 December 2015. The stock hit a 52-week low of Rs 150.10 on 29 February 2016. The stock had outperformed the market over the past 30 days till 26 August 2016, rising 0.58% compared with Sensexs 1.51% fall. The scrip, however, underperformed the market in past one quarter, falling 0.53% as against Sensexs 4.23% rise.

The small-cap company has an equity capital of Rs 81.87 crore. Face value per share is Rs 10.

JBF Industries said that the implementation of the 1.25 million tonnes per annum greenfield PTA project at Mangalore being executed through its step down subsidiary JBF Petrochemicals is proceeding satisfactorily. The project is expected to be completed by the end of the current financial year.

JBF Industries produces polyester chips for textiles, films and bottles and partially oriented yarn.

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Modest gains for bullions
Aug 29,2016

Bullion prices settled modestly higher on Friday, 26 August 2016 paring earlier gains, as traders eyed moves in the dollar following comments from two top Federal Reserve officials that hinted at a potential U.S. interest-rate hike as early as next month.

December gold tacked on $1.30, or 0.1%, to settle at $1,325.90 an ounce Friday. It had eased back from earlier highs above $1,344 that were hit as Yellen spoke and the U.S. ICE Dollar Index dropped. Gold futures were down about 1.5% for the week, the biggest weekly decline since the week ended 15 July.

December silver rose 13 cents, or 0.7%, to $18.745 an ounce, leaving the white metal with a 3.6% weekly drop.

The dollar saw volatile trading after Federal Reserve Chairwoman Janet Yellens speech at the Kansas City Feds annual economic symposium at Jackson Hole, Wyo. She said the case for an increase in the federal-funds rate had strengthened in recent months, but would remain dependent on what incoming data say about the U.S. economy. Chair Yellen indicated that the case for a rate hike had improved in recent months, but she also acknowledged that monetary policy is not on a preset course.

Following the comments, gold prices rallied $20 an ounce or more when the greenback began to drop versus other major currencies.

But the dollar then turned decidedly higher after Fed Vice Chairman Stanley Fischer, said Yellens speech was n++consistentn++ with the possibility of two rate increases this year. Fischer, however, also said that the August jobs report will influence the central banks rate decision, echoing Yellens emphasis on the importance of incoming economic data.

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P&G Healthcare slips after uninspiring Q4 results
Aug 29,2016

The result was announced after trading hours on Friday, 26 August 2016.

Meanwhile, the BSE Sensex was down 71.33 points, or 0.26%, to 27,710.92.

On BSE, so far 84 shares were traded in the counter, compared with average daily volume of 1,523 shares in the past one quarter. The stock hit a high of Rs 6,764.90 and a low of Rs 6,598 so far during the day. The stock hit a 52-week high of Rs 7,112.80 on 18 August 2016. The stock hit a 52-week low of Rs 5,171 on 18 January 2016. The stock had outperformed the market over the past 30 days till 26 August 2016, rising 5.79% compared with 1.51% slide in the Sensex. The scrip had also outperformed the market in past one quarter, rising 7.77% as against Sensexs 4.23% rise.

The large-cap company has equity capital of Rs 32.46 crore. Face value per share is Rs 10.

Procter & Gamble Hygiene and Health Cares (P&G Healthcare) net sales remained flat at Rs 557.09 crore in Q4 June 2016 over Q4 June 2015, due to overall category slowdown on health care.

P&G Healthcares net profit rose 22.26% to Rs 423.18 crore on 6.41% rise in net sales to Rs 2481.68 crore in the year ended June 2016 (FY 2016) over the year ended June 2015 (FY 2015). Sales growth for the year was driven by strong volume growth and focus on improving product mix. The growth in bottom line in FY 2016 was driven by continued focus on sales growth, productivity and cost efficiency.

The feminine care business continued to deliver strong double digit sales growth in a competitive market environment led by superior value propositions and strength of product portfolio. Due to category slowdown, sales in the health care business remained flat in FY 2016.

P&G Healthcare is a FMCG company. Its products include well known feminine hygiene brand Whisper and health care brand Vicks among others.

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Government agencies to import further 90,000 MT pulses for buffer stock
Aug 29,2016

The Government today ordered further import of 90,000 MT pulses, consisting of 40,000MT Masur, 20,000 MT Tur, 20,000 Desi Chana and 10,000 MT Urad for the buffer stock. The decision to this effect was taken in a meeting of Price Stabilization Fund chaired by Union Consumer Affairs Secretary, Shri Hem Pande here today. With this order total import of pulses for buffer stock stands now 1, 76,000 MT. Domestic procurement of pulses has also to reached to 1,20,000 MT as on August 23,2016. The government agencies have been also been directed to gear up for domestic procurement for coming crop of pulses, which is expected to good this year.

The meeting reviewed the procurement and distribution of pulses from buffer stock. So far about 40,000 MT have been allocated to the States the buffer stock for distribution not more than Rs. 120/kg. These pulses are provided to the States- Tur at the rate of Rs. 67/kg and Urad at the rate of Rs. 82/kg.

Inter Ministerial Committee on prices of essential commodities also met today to review availability and prices of essential commodities.. The meeting observed that prices of pulses have come down but have not reflected in retail. It was of the opinion that States must be asked to take immediate action under Essential Commodes Act to ensure that decline in prices id also reflected in retail also.

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Petronet LNG to pay dividend
Aug 29,2016

Petronet LNG announced that dividend, if approved by the Members in the Annual General Meeting, will be payable on and after 03 October 2016.

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GMR Infra jumps after winning contract for Goas greenfield airport project
Aug 29,2016

The announcement was made after trading hours on Friday, 26 August 2016.

Meanwhile, the BSE Sensex was down 36.46 points, or 0.13%, to 27,745.79.

On BSE, so far 6.86 lakh shares were traded in the counter, compared with average daily volume of 20.68 lakh shares in the past one quarter. The stock hit a high of Rs 14.30 and a low of Rs 13.57 so far during the day. The stock hit a 52-week high of Rs 18.60 on 3 December 2015. The stock hit a record low of Rs 9.58 on 4 September 2015. The stock had underperformed the market over the past 30 days till 26 August 2016, falling 10.40% compared with 1.51% slide in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 14.42% as against Sensexs 4.23% rise.

The mid-cap company has equity capital of Rs 603.59 crore. Face value per share is Re 1.

GMR Infrastructure said that its subsidiary GMR Airports (GAL) has won the international competitive bid for development and operation of a greenfield airport at Mopa village in north Goa. The concession period for the project is 40 years with a possible extension of another 20 years through a bid process. The airport will be built under the BOT (Build Operate Transfer) model. GMR won the bid through a closely contested competitive bid process. The letter of award for the project is expected to be issued within 60 days. The signing of concession agreement will be done within 45 days from the date of issuance of award letter. The regulatory regime for the concession will be hybrid till with 30% cross subsidy. The concession offers 232 acres of land for commercial city side development for a period of 60 years.

GMR Infrastructures consolidated net loss stood at Rs 953.50 crore in Q4 March 2016, higher than consolidated net loss of Rs 891.90 crore in Q4 March 2015. Net sales rose 29.1% to Rs 3708.37 crore in Q4 March 2016 over Q4 March 2015.

GMR Group is a leading global infrastructure conglomerate with interests in airports, energy, transportation and urban infrastructure.

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Electropreneur Park bolsters domestic electronics manufacturing with early stage start-up incubation
Aug 29,2016

Initiatives like Make in India, Digital India and Design in India along with Startup India taken by Government of India have injected new hopes in Indias electronics system design and product development space. Taking the vision forward, Electropreneur Park has been set-up at University of Delhi, South Campus to incubate 50 early stage start-ups and create atleast 5 global companies over a period of 5 years. The initiative was taken by Ministry of Electronics and Information Technology (MeitY), managed by Software Technology Parks of India (STPI) and implemented by India Electronics and Semiconductor Association (IESA).

Speaking on the occasion, Sh. Prasad said that having lost at the time of Indusrtial revolution, India can not afford to miss the bus once again. It has to take lead in the ongoing digital revolution and this alone has the potential to transform India into a vibrant economy. He said the NDA Government under the leadership of Prime Minister, Sh Modi has already sown seed for this and introduced programmes like make in INDIA, sKILL india and Stand Up India with the purpose of making all sections of the society equal partners in this game changing initiatives. Sh Prasad said digitalised India will not only make India a more effecient society but also encourage enterpreuners to invest in INDIA.

He said acadmecia clubed with invenstors and incubatees togather can expedite the process of transforming India . He said Government has already set up fund to incentivise such initiatives and would continue tyo focus on making India a hub centre of incubation,

The incubation centre has already incubated 6 early stage startups, with a few more in the process of on-boarding. The startups under incubation were awarded the admission certificate during the inauguration of the centre. The selection was done based on the stringent evaluation of about 200 proposals received. The selected start-ups are:

- Arogya Medtech- Cerebrosn++ : Portable and low cost combination of Neuro-imaging ( EEG) and near-infrared spectroscopy (NIRS) for stroke detection.

- Ceantra Technologies- Connected Vehicle Platform that enables Monitoring of Vehicle Health, Better Road Safety and Data driven Online Driver Marketplace.

- Intutive Scientific Research & Evaluations- Multi-featured women safety IOT wearable which includes features of SoS message, audible alarm and self defence.

- Resonant Electronics - Smart Modular Switch Boards, Smart Monitoring Control Panel Boards and Analytics for energy management and control system .

- Starbru Techsystems- Tactical android wireless data card (TAWDC) can be interfaced with Indian Army radio for sending images.

- Stemrobo Technologies- Creating multiple Electronic development and learning kits to be used in schools and institutes for skill development in ESDM sector.

Objective :

The park will focus on IP creation and Product Development to result in increased domestic value addition and will witness a unique integration of academia, industry, government and other incubation eco-system elements. The platform will also encourage R&D, innovation, Entrepreneurship in the ESDM sector in India and provide assistance during prototyping, development and commercialization for the products, conceptualized at Electropreneur Park, produced through the scheme for India and other growth markets.

Best-in-class facilities :

The initiative will provide the selected entrepreneurs with state-of-art laboratories as per international standard, ESDM mentorship by industry veterans and academicians, efficient supply chain and an eco-system that will bring in a bouquet of shared services and facilities to the incubatees like Taxation, Legal, Finance, Accounting, Patent Search, Training, interns, business counselling, etc. EP will also provide access to funding agencies to facilitate seed funding for the promising ventures and ensure a smooth transition from an incubatee to a self-sufficient electronics company.

About Electropreneur Park :

Funded by Ministry of Electronics & IT (MeitY), Government of India, the Electropreneur Park is an Incubation Centre under PPP mode in the Electronic Systems Design & Manufacturing (ESDM) sector. The Electropreneur Park will develop, promote, recruit, incubate, mentor, and create breakthrough innovations in the ESDM sector

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