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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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Sakthi Finance fixes record date for dividend
Aug 11,2017

Sakthi Finance has fixed 14 September 2017 as the Record Date for the purpose of payment of Dividend.

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Union Bank of India slides after poor Q1 earnings
Aug 11,2017

The result was announced after market hour yesterday, 10 August 2017.

Meanwhile, the S&P BSE Sensex was down 239.43 points or 0.76% at 31,291.90. The S&P BSE Mid-Cap index rose 28.64 points or 0.19% at 14,784.49.

On the BSE, 10.07 lakh shares were traded on the counter so far as against the average daily volumes of 4.83 lakh shares in the past one quarter. The stock had hit a high of Rs 129.60 and a low of Rs 124.25 so far during the day. The stock had hit a 52-week high of Rs 205 on 5 May 2017 and a 52-week low of Rs 116.25 on 9 November 2016.

The stock had underperformed the market over the past one month till 10 August 2017, sliding 14.17% compared with the Sensexs 0.58% fall. The stock had also underperformed the market over the past one quarter, declining 23.91% as against the Sensexs 4.24% rise. The scrip had also underperformed the market over the past one year, advancing 6.62% as against the Sensexs 13.52% rise.

The mid-cap bank has equity capital of Rs 726.43 crore. Face value per share is Rs 10.

The banks gross non-performing assets (NPAs) stood at Rs 37286.33 crore as on 30 June 2017 as against Rs 33712.28 crore as on 31 March 2017 and Rs 27280.90 crore as on 30 June 2016.

The ratio of gross NPAs to gross advances stood at 12.63% as on 30 June 2017 as against 11.17% as on 31 March 2017 and 10.16% as on 30 June 2016.

The ratio of net NPAs to net advances stood at 7.47% as on 30 June 2017 as against 6.57% as on 31 March 2017 and 6.16% as on 30 June 2016.

The banks provisions and contingencies rose 25.9% to Rs 1703.71 crore in Q1 June 2017 over Q1 June 2016.

The Government of India held 63.44% stake in Union Bank of India as per the shareholding pattern as on 31 March 2017.

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Industrial performance has shown a moderation from 8.8 percent during 2015-16 to 5.6 percent in 2016-17
Aug 11,2017

Monetary Management and Financial Intermediation

n++ The fiscal outcome of the Central Government in 2016-17 was marked by strong growth in tax revenue, sustenance of the pace of capital spending and a consolidation of non-salary/pension revenue expenditure. This combination allowed the Government to contain the fiscal deficit to 3.5 per cent of GDP in 2016-17.

n++ The Union Budget for 2017-18 opted for a gradual fiscal consolidation path: the fiscal deficit is expected to decline to 3.2 percent of GDP in 2017-2018. The fiscal deficit target of 3 per cent of GDP under the FRBM framework is projected to be achieved in 2018-19.

n++ The Budget for 2017-18 introduced a number of procedural reforms, including: the integration of the Railway Budget with the Union Budget; advancing of the date of the Union Budget to February 1, almost by a month; elimination of the classification of expenditure into plan and non-plan; and, restructuring of the Medium Term Expenditure Framework Statement with projected expenditures (revenue and capital) for each demand for the next two financial years.

n++ Overshadowing these otherwise significant fiscal policy initiatives is the introduction of the Goods and Services Tax with effect from the 1st day of July 2017, encompassing a plethora of the Central and State level indirect taxes, paving the way for a dramatic transformation of the Indian markets and the economy.

Monetary Management and Financial Intermediation

n++ The Reserve Bank of India cut the policy rate by 50 basis points during 2016-17. However, it shifted its monetary policy stance from accommodative to neutral in February 2017. As of August 2017 Repo rate stood at 6.00 per cent and reverse repo rate at 5.75 per cent.

n++ Monetary aggregates decelerated significantly following the withdrawal of legal tender status of specified bank notes on November 9, 2016. As of 31st March 2017, currency in circulation contracted by 19.7 per cent whereas reserve money contracted by 12.9 per cent.

n++ Credit off-take from banks continued to decelerate further. During 2016-17, gross bank credit outstanding grew at around 7 per cent on an average. The average gross bank credit to industry contracted by 0.2 per cent in the FY 2016-17.

n++ Sluggish growth and increasing indebtedness in some sectors of the economy have impacted the asset quality of banks and this is a cause for concern. The gross non-performing advances (GNPAs) ratio of SCBs rose from 9.2 per cent in September 2016 to 9.5 per cent in March 2017.

n++ Financial inclusion is proceeding apace under the Pradhan Mantri Jan Dhan Yojana. Zero balance accounts under PMJDY has declined consistently from nearly 58 per cent in March 2015 to around 24 per cent as of December 2016.

Prices and Inflation

n++ Significant moderation in CPI headline inflation during the last three years. CPI inflation fell to a series low of 1.5 percent in June 2017.

n++ Broad based decline in all commodity groups during 2016-17, the most significant being decline in food.

n++ Food inflation, which was the main driver of inflation in the past, declined significantly during the year because of improvements in supply of pulses and vegetables on the back of a normal monsoon. Core inflation-indicative of underlying trends -- too declined in the last few months.

n++ Convergence between CPI and WPI inflation in the last few months.

n++ Most States/UTs witnessed sharp decline in CPI inflation in 2016-17 as compared to the previous year.

n++ Both rural and urban inflation have declined in 2016-17 and the gap between rural and urban inflation has narrowed down in recent months.

Climate Change, Sustainable Development and Energy

n++ India ratified the Paris Agreement on 2nd October, 2016. Indias actions for the post-2020 period are based on its Nationally Determined Contribution (NDC).

n++ Indias NDC targets to lower the emissions intensity of GDP by 33 - 35 per cent by 2030 from2005 levels, to increase the share of non-fossil based power generation capacity to 40 per cent of installed electric power capacity(cumulative) by 2030, and to create an additional carbon sink of 2.5-3 Gt CO2e through additional forest and tree cover by 2030.

n++ At the multilateral level, the international community is engaged in writing the n++Paris rule bookn++ which includes guidelines and modalities for the implementation of the Paris Agreement for the transparency framework for action and support, features and accounting of NDCs etc. At the national level, the roadmap for implementation of Indias NDC is being prepared, by constituting an Implementation Committee and six Sub-Committees. The Committees are working to elaborate their respective NDC goals and identify specific policies and actions aimed at achieving them.

n++ India has set itself ambitious targets in the area of renewable energy. Moving ahead in this direction, India is implementing the largest renewable energy expansion programme in the world. It envisages a 5-fold increase in the overall renewable energy capacity to 175 GW by 2022. This includes 100 GW of solar, 60 GW of wind, 10 GW of biomass, and 5 GW of small hydro power capacity.

n++ There is an urgent need to further increase the access of the poor to more efficient energy resources. Many schemes have been implemented by the government to tackle this like Pradhan Mantri Ujjwala Yojana, PAHAL scheme, Deen Dayal Upadhyaya Gram Jyoti Yojana. A large number of focused initiatives have been taken in various sectors of the economy to ensure a pathway of lower emission and climate resilient development.

n++ India is at a stage of development that requires it to grow at a fast rate and lift the large number of their citizens from below the poverty line. Energy deprivation levels for a sizeable portion of population remain at high levels. The SDG 7 is to ensure access to affordable, reliable, sustainable and modern energy for all.

n++ Social cost analysis of coal and renewables based power done in the chapter indicate higher social costs for renewables. Storage costs and stranding of assets based on coal based power are major costs associated with the renewables based power. Given that the first goal for India is to provide 100 per cent energy access to its population and bridge the development deficit gap, all energy sources need to be tapped.

n++ A number of initiatives have been taken in the Indian financial sector also. In the renewable energy segment, as per the notification of the RBI in May 2016, bank loans of up to Rs.15 crore for solar-based power generators, biomass-based power generators, wind mills, micro-hydel plants, etc. will be considered part of Priority Sector Lending. The External Commercial Borrowing (ECB) norms have been further liberalized so that green projects can tap this window for raising finance across the borders. The Securities and Exchange Board of India (SEBI) has, in May 2017, put in place the framework for issuance of green bonds.

External Sector

n++ Indias balance of payments situation which was benign and comfortable during 2013-14 to 2015-16, further improved in 2016-17, as a result of low and falling trade and current account deficits and moderate and rising capital inflows, resulting in further accretion of foreign exchange reserves.

n++ Reflecting the slowly improving world economic situation, Indias exports turned positive at 12.3 per cent in 2016-17 after an interregnum of two years. This along with a marginal decline in imports by 1.0 per cent resulted in narrowing down of trade deficit to US$ 112.4 billion (5 per cent of GDP) in 2016-17 as compared to US$ 130.1 billion (6.2 per cent of GDP) in 2015-16.

n++ The current account deficit (CA

63 Moons Zooms after stellar Q1 results
Aug 11,2017

The result was announced after market hours yesterday, 10 August 2017.

Meanwhile, the S&P BSE Sensex was down 199.90 points, or 0.63% at 31,331.43. The S&P BSE Small-Cap index was down 68.41 points, or 0.45% at 15,139.49.

High volumes were witnessed on the counter. On the BSE, 1.55 lakh shares were traded on the counter so far as against the average daily volumes of 13,566 shares in the past one quarter. The stock had hit a high of Rs 65.30 and a low of Rs 56 so far during the day. The stock had hit a 52-week high of Rs 93 on 9 September 2016 and a 52-week low of Rs 53.80 on 10 August 2017.

The stock had underperformed the market over the past one month till 10 Aug 2017, declining 15.12% compared with the Sensexs 0.58% fall. The scrip had also underperformed the market over the past one quarter declining 28.17% as against the Sensexs 4.24% rise. The scrip had also underperformed the market over the past one year declining 32.19% as against the Sensexs 13.52% rise.

The small-cap company has equity capital of Rs 9.22 crore. Face value per share is Rs 2.

63 moons technologies is among the global leaders in offering technology IP (Intellectual Property) and domain expertise to create and trade on next generation financial markets. It is a global leader in creating and operating next-generation tech-centric financial exchanges.

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Bank of Maharashtra gains after Govt hikes stake
Aug 11,2017

The announcement was made during trading hours today, 11 August 2017.

Meanwhile, the S&P BSE Sensex was down 213.95 points, or 0.68% to 31,317.38.

On the BSE, 44,000 shares were traded in the counter so far, compared with average daily volumes of 31,283 shares in the past one quarter. The stock had hit a high of Rs 28.25 and a low of Rs 25.10 so far during the day. The stock hit a 52-week high of Rs 40.70 on 4 May 2017. The stock hit a 52-week low of Rs 25 on 9 November 2016.

The stock had underperformed the market over the past one month till 10 August 2017, falling 9.33% compared with 0.86% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 22.68% as against Sensexs 4.45% rise. The scrip had also underperformed the market in past one year, falling 15.46% as against Sensexs 13.18% rise.

The mid-cap company has equity capital of Rs 1168.33 crore. Face value per share is Rs 10.

Bank of Maharashtra said that its board allotted 8.88 crore equity shares at Rs 33.75 each to the Government of India (GoI) on preferential basis. Consequently, shareholding of GoI in Bank of Maharashtra has increased from 81.61% to 82.91%.

Bank of Maharashtra reported net loss of Rs 412.20 crore in Q1 June 2017 as against net loss of Rs 397.40 crore in Q1 June 2016. Operating income declined 6.8% to Rs 3209.84 crore in Q1 June 2017 over Q1 June 2016.

The Government of India (GoI) held 81.61% stake in Bank of Maharashtra (as per the shareholding pattern as on 30 June 2017).

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PVR launches two multiplex cinemas in Pune
Aug 11,2017

PVR has opened 6 screens multiplex PVR ICON at the Pavillion Mall and 4 screens multiplex PVR Cinemas at Kumar Pacific Mall in Pune. With this launch, PVR now operates with 597 screens at 130 properties in 51 cities.

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Board of Srikalahasthi Pipes approves appointment of directors
Aug 11,2017

Srikalahasthi Pipes announced that the Board of Directors of the Company at its meeting held on 10 August 2017 has approved the following -

1. The appointment of Sidharth Jain Fouzdar, IAS as a Director on the Board of Directors of the Company as nominated by Andhra Pradesh Industrial Development Corporation (APIDC) in place of Kartikeya Misra, IAS.

2. Induction of V. Poyyamozhi into the Board as an Additional Director and also approved his appointment as Whole-time Director of the Company, subject to the approval of shareholders in the ensuing Annual General Meeting of the Company.

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Alpa Laboratories to convene AGM
Aug 11,2017

Alpa Laboratories announced that the Annual General Meeting (AGM) of the company will be held on 29 September 2017.

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Ludlow Jute & Specialities schedules AGM
Aug 11,2017

Ludlow Jute & Specialities announced that the Annual General Meeting (AGM) of the company will be held on 4 September 2017.

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Board of Manappuram Finance recommends dividend
Aug 11,2017

Manappuram Finance announced that the Board of Directors of the Company at its meeting held on 10 August 2017, inter alia, have recommended the dividend of Rs 0.5 per equity Share (i.e. 25%) , subject to the approval of the shareholders.

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Sun Pharmaceuticals Industries allots 799 equity shares
Aug 11,2017

Sun Pharmaceuticals Industries has allotted 799 (Seven Hundred and Ninety Nine) equity shares of the Company of Re 1/- each, on exercise of stock options under the Sun Employee Stock Option Scheme - 2015.

Accordingly, post the above allotment the paid-up equity share capital of the Company is Rs. 2,39,93,06,980/- (Rupees Two Hundred and Thirty Nine Crores Ninety Three Lakhs Six Thousand Nine Hundred and Eighty Only) divided into 2,39,93,06,980/- (Two Hundred and Thirty Nine Crores Ninety Three Lakhs Six Thousand Nine Hundred and Eighty Only) equity shares of Re.1/- each.

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GSS Infotech to conduct AGM
Aug 11,2017

GSS Infotech announced that the 14th Annual General Meeting (AGM) of the company will be held on 30 September 2017.

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IOB declines after disappointing Q1 numbers
Aug 11,2017

The result was announced after market hour yesterday, 10 August 2017.

Meanwhile, the S&P BSE Sensex was down 193.66 points or 0.61% at 31,337.67. The S&P BSE Mid-Cap index rose 99.79 points or 0.68% at 14,855.64.

On the BSE, 97,000 shares were traded on the counter so far as against the average daily volumes of 1.95 lakh shares in the past one quarter. The stock had hit a high of Rs 22.80 and a low of Rs 21.65 so far during the day. The stock had hit a 52-week high of Rs 32.25 on 5 May 2017 and a 52-week low of Rs 21.10 on 9 November 2016.

The stock had underperformed the market over the past one month till 10 August 2017, sliding 10.64% compared with the Sensexs 0.58% fall. The stock had also underperformed the market over the past one quarter, declining 24.88% as against the Sensexs 4.24% rise. The scrip had also underperformed the market over the past one year, sliding 12.33% as against the Sensexs 13.52% rise.

The mid-cap bank has equity capital of Rs 2454.73 crore. Face value per share is Rs 10.

Indian Overseas Banks total income declined 11.8% to Rs 5174.50 crore in Q1 June 2017 over Q1 June 2016.

The banks gross non-performing assets (NPAs) stood at Rs 35453.12 crore as on 30 June 2017 as against Rs 35098.25 crore as on 31 March 2017 and Rs 33913.15 crore as on 30 June 2016.

The ratio of gross NPAs to gross advances stood at 23.6% as on 30 June 2017 as against 22.39% as on 31 March 2017 and 20.48% as on 30 June 2016.

The ratio of net NPAs to net advances stood at 14.97% as on 30 June 2017 as against 13.99% as on 31 March 2017 and 13.97% as on 30 June 2016.

The banks provisions and contingencies fell 24.8% to Rs 1607.88 crore in Q1 June 2017 over Q1 June 2016.

The Government of India held 79.56% stake in Indian Overseas Bank as per the shareholding pattern as on 30 June 2017.

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Ashok Leyland gains after winning contract
Aug 11,2017

The announcement was made during trading hours today, 11 August 2017.

Meanwhile, the S&P BSE Sensex was down 210.80 points, or 0.67% to 31,320.53.

On the BSE, 8.67 lakh shares were traded in the counter so far, compared with average daily volumes of 16.93 lakh shares in the past one quarter. The stock had hit a high of Rs 105.45 and a low of Rs 98.80 so far during the day. The stock hit a record high of Rs 114.25 on 8 August 2017. The stock hit a 52-week low of Rs 73.60 on 22 November 2016.

The stock had underperformed the market over the past one month till 10 August 2017, falling 2.91% compared with 0.86% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 20.75% as against Sensexs 4.45% rise. The scrip had also outperformed the market in past one year, rising 18.33% as against Sensexs 13.18% rise.

The large-cap company has equity capital of Rs 292.65 crore. Face value per share is Re 1.

Ashok Leyland will supply 500 fully-built trucks to Rivigo, Indias fastest growing logistics company.

Ashok Leylands net profit fell 61.7% to Rs 111.23 crore on 0.5% decline in net sales to Rs 4237.78 crore in Q1 June 2017 over Q1 June 2016.

Ashok Leyland is one of the leading manufacturers of medium and heavy commercial vehicles in India.

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Biocon incorporate subsidiary in Malaysia
Aug 11,2017

Biocon has incorporated a wholly owned subsidiary - Biocon Healthcare SDN.BHD in Malaysia, which is registered with the Registrar of Companies, Malaysia on 10 August 2017.

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