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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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Yes Bank gains on plan to raise Rs 330 crore via green bonds
Sep 27,2016

The announcement was made during market hours today, 27 September 2016.

Meanwhile, the BSE Sensex was up 57.45 points, or 0.20%, to 28,351.73.

On BSE, so far 40,000 shares were traded in the counter, compared with average daily volume of 2.48 lakh shares in the past one quarter. The stock hit a high of Rs 1,251.65 and a low of Rs 1,238.85 so far during the day. The stock hit a record high of Rs 1,450 on 7 September 2016. The stock hit a 52-week low of Rs 632.25 on 20 January 2016. The stock had underperformed the market over the past 30 days till 26 September 2016, falling 6.80% compared with 1.84% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 15.61% as against Sensexs 6.67% rise.

The large-cap private sector bank has equity capital of Rs 421.35 crore. Face value per share is Rs 10.

Yes Bank announced that it will raise Rs 330 crore (approximately $50 million equivalent) through an issue of a 7-year Green Infrastructure Bonds to FMO, the Dutch Development Bank, on a private placement basis. FMO will be investing in Yes Banks bonds through FMOs own sustainable bonds. The definitive agreement was signed at the fourth edition of FMOs Future of Finance conference being held in Katwijk, The Netherlands.

The amount raised will be used by Yes Bank to finance Green Infrastructure including solar and wind projects in the renewable energy space. This issuance would be externally assured by a reputed third party. An external annual review and monitoring would be undertaken on the use of proceeds in line with the Green Bond Principles 2016. This is the third such green bond issuance by Yes Bank in the last 18 months, after the successful maiden issuance of Rs 1000 crore ($160 million equivalent) in February 2015 followed by the Rs 315 crore ($50 million equivalent) private placement to International Finance Corporation (IFC), Washington in August 2015.

India is currently actively tapping into its renewable energy potential with the announced target of 175 gigawatt (GW) of capacity installation by 2022, and favourable policy support. India is estimated to require over $150 billion (about 10 lakh crore equivalent) for achieving the renewable energy target by 2022, the bank said in a statement.

Green Bonds have been emerging as one of the primary sources of financing for renewable energy across the world. Globally, the issues amounted to almost $46 billion in 2015, and Indias Green Bond market also has seen an exponential growth, touching $2 billion, post Yes Banks first issue in February 2015. Such issuances will catalyze the market for Green Bonds in India and encourage responsible investors to facilitate funding towards renewable and clean energy projects, it added.

Yes Banks net profit rose 32.8% to Rs 731.80 crore on 25.4% growth in operating income to Rs 4762.83 crore in Q1 June 2016 over Q1 June 2015.

Yes Bank is one of the leading private sector banks in India.

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Aviva Industries announces resignation of director
Sep 27,2016

Aviva Industries announced that Keyur Mehta, Independent Director of the Company has resigned as a Director of the Company due to his personal reasons, effective from the closure of the Business hours of 26 September 2016.

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Growth in Developing Asia Steady, Despite Global Headwinds - ADB
Sep 27,2016

Developing Asia is expected to grow steadily despite external pressures and should meet earlier forecasts for 2016 and 2017, aided by resilience in the regions two largest economiesn++the Peoples Republic of China and India, says a new Asian Development Bank (ADB) study.

In an update of its flagship annual economic publication, Asian Development Outlook (ADO) 2016, ADB kept its 2016 and 2017 gross domestic product (GDP) growth forecasts unchanged from its March estimates of 5.7% for each year.

n++Strong growth in the PRC and India is helping the region maintain its growth momentum,n++ said Juzhong Zhuang, Deputy Chief Economist. n++Still, policymakers need to watch for downside risks including potential capital reversals that could be triggered by monetary policy changes in advanced economies, especially the US.n++

A delayed recovery continues to hamper major industrial economies (the US, the euro area, and Japan) and the ADO Update has trimmed the earlier 2016 growth forecast to 1.4%, rising slightly to 1.8% in 2017.

Fiscal and monetary stimulus measures supported stronger-than-expected growth in the PRC. The ADO Update raised the PRCs growth forecasts by 0.1 percentage points in 2016 and 2017, to 6.6% and 6.4% respectively, which is helping to offset sluggishness elsewhere in East Asia. The subregion is now expected to grow 5.8% in 2016, and 5.6% in 2017.

South Asia, driven by the Indian economy, will retain its rapid pace of growth with GDP seen expanding 6.9% in 2016, and 7.3% the following year, unchanged from the March forecasts. Indias growth forecast for fiscal year 2016 is kept at 7.4%, supported by strong private consumption, while the milestone tax reform passed this year and progress in restructuring bank balance sheets should help revive investment and propel growth of 7.8% in 2017.

Southeast Asian economies will see growth edge up to 4.5% in 2016 on the back of robust government infrastructure investment, supported by strong performances from the Philippines and Thailand. In 2017, the subregion is expected to benefit from a pickup in demand from advanced economies and higher prices for export commodities.

Central Asian economies will remain under pressure from still depressed oil and gas prices, low external demand, and lower remittances. Growth for the subregion is now revised down to 1.5% for 2016, from 2.1% seen in March, reflecting the pessimistic outlook for energy exporters, Azerbaijan, Kazakhstan and Turkmenistan. In 2017, growth should pick up to 2.6% on expected stronger external demand and commodity prices.

The Pacific subregion meanwhile will also post softer growth than previously forecast, with growth projected at 2.7% in 2016 compared to the earlier projection of 3.8%. The slowdown is due to the fiscal contraction in Papua New Guinea, the impacts of a severe cyclone in Fiji, and drought in the North Pacific. The impact will be partially offset by some improved performances from smaller economies, aided by a pickup in tourism. Growth in the subregion will spring back to 3.5% in 2017.

The ADO Update notes that risks to the regions outlook remain tilted to the downside, with the external environment still fragile and the possibility of a US Federal Reserve Rate hike leaving open the potential for disruptive capital flows that could complicate macroeconomic policy management in the region.

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Mahindra & Mahindra gets assigned rating for NCD programme
Sep 27,2016

Mahindra & Mahindra announced that India Ratings and Research (Ind-Ra) has assigned a final IND AAA rating with Stable Outlook for the Companys Rs 475 crore unsecured, non-convertible debenture (NCD) programme.

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Bosch intimates of schedule of activities for buyback offer
Sep 27,2016

Bosch announced the schedule of activities for the buyback of 878,160 equity shares of Rs 10 each at a price of Rs 23000 per equity share -

Opening of buyback offer - 06 October 2016
Closing of buyback offer - 21 October 2016
Last date and time for receipt of the completed tender form - 24 October 2016 by 5 pm
Last date for settlement of bids on the stock exchange - 02 November 2016

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Yes Bank places Rs 330 crore Green Infrastructure Bond
Sep 27,2016

Yes Bank announced that it will raise Rs 330 crore (approximately USD 50 million equivalent) through an issue of a 7-year Green Infrastructure Bonds to FMO, the Dutch Development Bank, on a private placement basis. FMO will be investing in Yes Banks bonds through FMOs own sustainable bonds. This is FMOs first investment in a Green Infrastructure Bond issued by a bank in India.

The amount raised will be used by Yes Bank to finance Green Infrastructure including solar and wind projects in the renewable energy space.

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Bank of Maharashtra announces appointment of MD & CEO
Sep 27,2016

Bank of Maharashtra announced that the Central Government in exercise of the powers conferred by Clause (a) of Section 9(3) of The Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970/1980, read with Clause 3(1), 6 and 8(1) of The Nationalised Banks (Management and Miscellaneous Provisions) Scheme, 1970/1980, has vide notification dated September 26, 2016 appointed Ravindra Prabhakar Marathe, as MD & CEO of Bank of Maharashtra w.e.f the date of his taking charge of the post i.e. 26 September 2016 and up to 30 November 2018 i.e. the date of his attaining the age of superannuation or until further orders, whichever is earliest in place of Sushil Muhnot, who ceases to be the CMD of the Bank.

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IGC Foils to hold EGM
Sep 27,2016

IGC Foils announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 19 October 2016 .

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Robust Demand, Milestone Reform Sustain Indias Growth Momentum - ADB
Sep 27,2016

Indias economy will remain on a strong growth path this fiscal year (FY) and next, aided by implementation of key structural reforms, robust consumer demand, and higher agricultural output driven by a good Summer monsoon, says a new Asian Development Bank (ADB) study.

In an update of its flagship annual economic publication, Asian Development Outlook 2016, ADB forecasts FY2016 (year to March 2017) gross domestic product (GDP) growth of 7.4%, unchanged from its March projection. FY2017 growth is also seen unchanged at a faster clip of 7.8%.

n++With increasing investment over the coming year, India will remain the fastest growing major economy in the world,n++ said Juzhong Zhuang, Deputy Chief Economist. n++Legislation to allow a national value-added tax is a milestone reform for India, while ongoing efforts to restructure bank balance sheets will help underpin faster growth moving forward.n++

Overall growth in the first quarter of FY2016 fell to 7.1% year-on-year as private consumption, investment, and construction moderated. Weak rains slowed agricultural output and credit growth remained subdued. At the same time, services grew by over 9% year-on-year, aided by a sharp rise in government spending, with government consumption posting its highest level of growth in almost 2 years.

Moving forward, the Update expects the economy to benefit from the flow through impacts of ongoing reforms, including the approval in August 2016 of legislation to allow the introduction of a long-awaited uniform goods and services tax. This landmark legislation is expected to boost GDP growth and revenue for the government. The effects of a healthier monsoon season, after 2 years of weak rains, will spur growth and government approval of a pay hike for public servants last August will continue to fuel buoyant consumption, which will remain a key growth driver. Construction, meanwhile, will benefit from the government announcement of measures to ease rules for quicker settlement of housing disputes, and to clear the way for fresh liquidity injections into stalled projects.

An uptick in demand from advanced economies, including oil producers supported by higher commodity prices, will boost exports, which after 2 years of contraction are seen expanding 4% in FY2016 and 7% in FY2017. A revival in public investment and some modest improvement in private investment will also underpin the economy in FY2017. Growth in foreign direct investment (FDI) inflows, though not as strong as in FY2015, will nevertheless remain at solid levels with the government liberalizing caps on FDI in some sectors and taking steps to improve the ease of doing business.

Inflation, meanwhile, is expected to average 5.4% in FY2016 with food prices benefiting from a stronger monsoon. Inflationary pressures, though, will move up in FY2017, with the rate seen at 5.8%, against a backdrop of higher global commodity prices and an expected rise in the prices of some services following the introduction of GST.

The updated assessment notes some risks of slippage in the governments target to reduce the fiscal deficit to 3.5% of GDP for FY2016 due to subdued non-tax revenue and higher current expenditure. However, measures to improve the targeting of subsidies and tax revenue growth should reduce the extent of slippage. A healthy external balance and strong capital inflows have helped the Indian rupee remain relatively stable against the US dollar in 2016.

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AksharChem (India) announces cessation of subsidiary
Sep 27,2016

AksharChem (India) had acquired 9990 (99.90%) Equity Shares of Rs.10 each of Akshar Pigments and intimated to the stock exchange for the same vide letter dated October 09, 2015.

However, it was decided that, since Akshar Pigments has not started its operation yet and have no profitability at this stage, the Company has disposed off 9990 (99.90%) Equity Shares of Rs. 10 each of Akshar Pigments and now onwards the same is not the subsidiary of the Company.

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Career Point standalone net profit declines 14.47% in the June 2016 quarter
Sep 27,2016

Net profit of Career Point declined 14.47% to Rs 2.01 crore in the quarter ended June 2016 as against Rs 2.35 crore during the previous quarter ended June 2015. Sales declined 0.74% to Rs 16.11 crore in the quarter ended June 2016 as against Rs 16.23 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales16.1116.23 -1 OPM %19.1218.48 - PBDT4.394.54 -3 PBT3.253.37 -4 NP2.012.35 -14

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Career Point consolidated net profit declines 2.51% in the June 2016 quarter
Sep 27,2016

Net profit of Career Point declined 2.51% to Rs 2.33 crore in the quarter ended June 2016 as against Rs 2.39 crore during the previous quarter ended June 2015. Sales rose 2.85% to Rs 18.02 crore in the quarter ended June 2016 as against Rs 17.52 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales18.0217.52 3 OPM %25.7519.24 - PBDT5.334.74 12 PBT4.033.41 18 NP2.332.39 -3

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8K Miles Software gains after fixing record date for stock split, bonus issue
Sep 27,2016

The announcement was made after market hours yesterday, 26 September 2016.

Meanwhile, the BSE Sensex was up 81.02 points, or 0.29%, to 28,375.30.

On BSE, so far 4,942 shares were traded in the counter, compared with average daily volume of 9,089 shares in the past one quarter. The stock hit a high of Rs 1,976 and a low of Rs 1,924.60 so far during the day. The stock hit a 52-week high of Rs 2,550 on 14 January 2016. The stock hit a 52-week low of Rs 1,275 on 12 February 2016. The stock had underperformed the market over the past 30 days till 26 September 2016, falling 5.73% compared with 1.84% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 3.06% as against Sensexs 6.67% rise.

The small-cap company has equity capital of Rs 11.44 crore. Face value per share is Rs 10.

On 24 August 2016, 8K Miles Software Services announced that its board approved splitting each equity share into two (2-for-1) and issuing one bonus share for three shares held (1:3).

On a consolidated basis, net profit of 8K Miles Software Services rose 167.73% to Rs 19.33 crore on 105.44% rise in net sales to Rs 103.87 crore in Q1 June 2016 over Q1 June 2015.

8K Miles Software Services is a global Cloud, Software as a Service (SaaS) and Security Solutions company based in the San Francisco Bay area.

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Ministry of Social Justice and Empowerment Signed MOU with National Safai Karmachari Finance and Development Corporation
Sep 27,2016

Ministry of Social Justice and Empowerment signed MOU with National Safai Karmachari Finance and Development Corporation (NSKFDC) stipulating the targets for the Corporation for the year 2016-17.

NSKFDC is targeting to disburse loans to the tune of approx Rs 175 crores for the persons of Safai Karmachari, Manual Scavenges and their dependent living below double the poverty line through State Channelizing Agencies, Public Sector Banks, Regional Rural Banks and other channel partners. Further more than 110000 beneficiaries are also to be imparted skill development training.

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IRB Infra gains after winning order
Sep 27,2016

The announcement was made after market hours yesterday, 26 September 2016.

Meanwhile, the BSE Sensex was up 102.13 points, or 0.36%, to 28,396.41.

On BSE, so far 83,000 shares were traded in the counter, compared with average daily volume of 2.95 lakh shares in the past one quarter. The stock hit a high of Rs 264.90 and a low of Rs 261.80 so far during the day. The stock hit a 52-week high of Rs 272.20 on 20 October 2015. The stock hit a 52-week low of Rs 197 on 24 June 2016. The stock had outperformed the market over the past 30 days till 26 September 2016, rising 10.25% compared with 1.84% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 24.74% as against Sensexs 6.67% rise.

The mid-cap company has equity capital of Rs 351.45 crore. Face value per share is Rs 10.

IRB Infrastructure Developers said it received letter of award from National Highways Authority of India (NHAI) for the project of six laning from Udaipur to Rajasthan/Gujarat border i.e from km 287.40 to 401.20 section of NH-8 in the states of Rajasthan and Gujarat. The project will be on design, build, finance, operate and transfer (DBFOT) mode under National Highways Development Project Phase V.

The estimated project cost of the company is approximately Rs 2100 crore. The concession period of the project is 21 years including construction period of 910 days. The company will get tolling rights on project from the appointed date. The company has offered premium of Rs 163.80 crore to NHAI in terms of the concession agreement.

On a consolidated basis, net profit of IRB Infrastructure Developers rose 10.4% to Rs 181.84 crore on 36.8% rise in net sales to Rs 1517.33 crore in Q1 June 2016 over Q1 June 2015.

IRB Infrastructure Developers is an integrated infrastructure development and construction company with significant experience in toll roads and highways sector. The company is one of the largest private developers in India.

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