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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.
OPM %24.969.91-

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Packaged food market reached $51 mn mark in 2015: Study
Sep 27,2016

Clocking a compounded annual growth rate (CAGR) of about 16 per cent, the packaged food market in India is expected to have crossed $51.5 million (mn) mark in 2015 as against $25 million in 2010, noted a recent ASSOCHAM-TechSci Research joint study.

n++In wake of the increasing disposable incomes and growing number of nuclear families, market share of packaged food in processed food market is expected to marginally increase to about 29 per cent in 2016 from about 28 per cent in 2015,n++ according to the study titled Dynamics involved in multi-layered food packaging, conducted by The Associated Chambers of Commerce and Industry of India (ASSOCHAM) jointly with TechSci Research.

Food and beverage packaging market in India was estimated at about $16 billion (bn) as of 2015 from about $12 bn in 2010 and registered a CAGR of over six per cent.

With a size of over $4 bn, the plastic food packaging market currently accounts for lions share of about 63 per cent in Indias total plastic packaging market which is currently valued at about $7 bn, highlighted the ASSOCHAM-TechSci Research study.

Market for multilayer plastic food packaging is currently estimated at about $1 bn which is about 22 per cent of Indias total plastic food packaging industry, however, in the total food and beverages packaging market, multilayer plastic food packaging accounts for over six per cent share in value terms.

n++Growing usage of packaging material in various food service outlets together with increasing demand for packaged beverage and expanding working class population has given impetus to food packaging industry in India,n++ said Mr D.S. Rawat, secretary general of ASSOCHAM while releasing the findings of the study.

In terms of share, metallic and other packaging material accounts for about half of Indias overall food and beverages packaging market followed by printed cartons and rigid packaging (28 per cent) and flexible packaging material like food packaging laminates and packaging foils (24 per cent), highlighted the ASSOCHAM-TechSci Research study.

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KNR Constructions provide project update
Sep 27,2016

KNR Constructions intimated that it has completed the rehabilitation and upgradation of existing NH-565 Penchalakona to Yerpedu section in the State of Andhra Pradesh under NHDP-IV 121 days ahead of the scheduled date of completion.

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MSR India provides business update
Sep 27,2016

MSR India has started the Phase-II online sales of DR.COPPER, through its website The Company is expecting huge response for the sales and is hoping to generate decent revenue from these online sales.

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UCO Bank gets capital infusion from Central Government
Sep 27,2016

UCO Bank has received Rs. 775 crore (rounded off) from the Central Government towards preferential allotment of 18,69,72,255 equity shares of Rs. 10/- each at a price of Rs. 41.45 per share under Chapter VII of the SEBI (issue of Capital & Disclosure Requirements) Regulations 2009 (SEBI ICDR Regulations).

The amount has been deposited in the Share Application Money A/c pending receipt of regulatory approvals for appropriation towards allotment money. The Bank will endeavour to complete the allotment process according to the timeline prescribed under SEBI ICDR Regulations after receipt of all regulatory clearances.

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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 FY2017 (year to March 2017) gross domestic product (GDP) growth of 7.4%, unchanged from its March projection. FY2018 growth is also seen unchanged at a faster clip of 7.8%.

With increasing investment over the coming year, India will remain the fastest growing major economy in the world, said Juzhong Zhuang, Deputy Chief Economist. 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.

Overall growth in the first quarter of FY2017 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 FY2017 and 7% in FY2018. A revival in public investment and some modest improvement in private investment will also underpin the economy in FY2018. Growth in foreign direct investment (FDI) inflows, though not as strong as in FY2016, 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 FY2017 with food prices benefiting from a stronger monsoon. Inflationary pressures, though, will move up in FY2018, 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 FY2017 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.

ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, ADB in December 2016 will mark 50 years of development partnership in the region. It is owned by 67 members - 48 from the region. In 2015, ADB assistance totaled $27.2 billion, including cofinancing of $10.7 billion.

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Diamond Infosystems fixes record date for bonus issue & stock split
Sep 27,2016

Diamond Infosystems has fixed 05 October 2016 as the Record Date for the purpose of determining members who would be entitled to receive:

a) Two (2) fully paid bonus equity share of face value of Rs. 10 each for one (1) equity shares of face value of Rs. 10 each;

b) One (1) equity shares of face value of Rs. 10 each upon Sub-division of Ten (10) equity shares of face value of Rs. 1 each.

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Vivimed Labs hits roof after block deal
Sep 27,2016

Meanwhile, the BSE Sensex was up 5.62 points, or 0.02%, to 28,299.90.

On BSE, so far 22.18 lakh shares were traded in the counter, compared with average daily volume of 69,351 shares in the past one quarter. The stock was currently frozen at the record high level for the counter. The stock hit a low of Rs 86.75 in intraday trade. The stock hit a 52-week low of Rs 58.40 on 28 September 2015. The stock had outperformed the market over the past 30 days till 26 September 2016, rising 16% compared with 1.84% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 13.31% as against Sensexs 6.67% rise.

The small-cap company has equity capital of Rs 16.20 crore. Face value per share is Rs 2.

On a consolidated basis, Vivimed Labs net profit rose 15.27% to Rs 27.86 crore on 10.65% growth in net sales to Rs 366.83 crore in Q1 June 2016 over Q1 June 2015.

Vivimed Labs is a leading manufacturer and exporter of specialty chemicals mainly used in the personal-care and pharmaceutical industries.

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Washington Softwares reports standalone nil net profit/loss in the June 2016 quarter
Sep 27,2016

Washington Softwares reported no net profit/loss in the quarter ended June 2016 and during the previous quarter ended June 2015. There were no Sales reported in the quarter ended June 2016 as against Rs 0.05 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales00.05 -100 OPM %00 - PBDT00 0 PBT00 0 NP00 0

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Oxford Industries reports standalone net loss of Rs 0.10 crore in the June 2016 quarter
Sep 27,2016

Net Loss of Oxford Industries reported to Rs 0.10 crore in the quarter ended June 2016 as against net loss of Rs 0.13 crore during the previous quarter ended June 2015. There were no Sales reported in the quarter ended June 2016 and during the previous quarter ended June 2015.

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Modern Threads (I) standalone net profit rises 27.68% in the June 2016 quarter
Sep 27,2016

Net profit of Modern Threads (I) rose 27.68% to Rs 2.26 crore in the quarter ended June 2016 as against Rs 1.77 crore during the previous quarter ended June 2015. Sales declined 0.92% to Rs 38.58 crore in the quarter ended June 2016 as against Rs 38.94 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales38.5838.94 -1 OPM %7.416.29 - PBDT2.642.21 19 PBT2.261.77 28 NP2.261.77 28

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Kavit Industries to hold board meeting
Sep 27,2016

Kavit Industries will hold a meeting of the Board of Directors of the Company on 26 September 2016.

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CCL International to hold board meeting
Sep 27,2016

CCL International will hold a meeting of the Board of Directors of the Company on 26 September 2016.

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IB Infotech Enterprises to hold board meeting
Sep 27,2016

IB Infotech Enterprises will hold a meeting of the Board of Directors of the Company on 26 September 2016.

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India-Pak trade abysmally low; MFN or not: ASSOCHAM
Sep 27,2016

India-Pakistan trade relations are abysmally low accounting for less than half a per cent of Indias total global trade involving both exports and imports, apex industry body ASSOCHAM has said.

Out of Indias total merchandise trade of USD 641 billion in 2015-16, Pakistan accounted for a meagre USD 2.67 billion, of this Indias exports to the neighbouring country amounted to USD 2.17 billion, or 0.83 per cent of the total Indian outward shipments while imports were less than USD 500 million, or 0.13 per cent of total inward shipments.

n++In all, trade with Pakistan was equivalent to 0.41 per cent of Indias global merchandise commerce,n++ said Mr D.S. Rawat, secretary general of ASSOCHAM.

n++Thus, the MFN (Most Favoured Nation) status or no MFN has not made much of a difference on the bilateral trade, while India has granted Pakistan the MFN status, Islamabad had not responded but even with the MFN status, Pakistans exports to India remained less than half a billion dollar,n++ said Mr Rawat.

He said that for political reasons, the businesses have not been cultivating interest in each others country.

n++Going forward, as things stand today, it is almost no movement seen in the immediate future. Even the symbolic presence of Pakistan exhibitors at the annual India International Trade Fair (IITF) in November in New Delhi is not expected whether or not formal ties are snapped or not, given the present state of affairs,n++ said Mr Rawat.

On its part, India Inc is fully and solidly behind Prime Minister Mr Narendra Modi for steering Indias interest in the best possible directions. n++The strategic decisions are fully the domain of the government which enjoys the full backing of the nation,n++ the ASSOCHAM said.

Even as India was grappling with the global slowdown, its merchandise exports were USD 261 billion in 2015-16, while imports were USD 380 billion. Indias main exports markets are the European Union, the US, Africa and the South East Asia. n++There has been fair amount of activity in Latin America as well.n++

On the other hand, China along with countries of the Middle East, the EU and the US are major suppliers of goods to India having a major charge on the countrys imports bill.

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Ease of Doing business among Indian states improving rapidly: PHD Chamber
Sep 27,2016

At the socio economic front the states have taken effective measures towards the implementation of reforms in healthcare, education and basic physical and social infrastructure. The states are now on their way to rapid industrialization through coordinated development of Small, Medium and Large scale enterprises, according to the study conducted by PHD Research Bureau, research arm of PHD Chamber of Commerce and industry.

The study titled as Ease of Doing Business among Indian States: Suggestive Measures has been released by Shri Pradeep Kumar Sinha, Cabinet Secretary, Government of India in a programme Accelerating Ease Of Doing Business to the next orbit, on 17th September 2016.

As states play a pivotal role in the overall development of the Indian Economy, these are now dismantling barriers in production process such as land, labour, capital and entrepreneurship and contributing in a massive way towards infrastructure building and industrialisation, said the study.

The recent breakthrough in the implementation of GST is commendable which will reduce the barriers between states and will make the country a common market. A wider tax base and better compliance will boost overall economic growth of the country, said Dr. Mahesh Gupta, President, PHD Chamber at the release of the study.

According to the study, though predominantly some states are agrarian in nature, but the industrial sector in the states has also emerged as a significant contributor in their economic and social development. Now states offer favorable environment for attracting industrial investments through investor friendly policies and better infrastructural support, said Dr. Mahesh Gupta

The states have developed good infrastructure for promoting the thriving sectors like tourism and IT industry with various lucrative public-private partnerships (PPP), said Dr. Gupta

The states are focusing on strengthening their infrastructure base and making the business environment more conducive to industrial developments. Many states are known for their efforts in the area of skill development and good governance; also many states have shifted their focus towards disaster management techniques, he said

Going ahead, the role of states is expected to be increasingly more critical in sustaining the overall development of the country in coming times, said the study

Several challenges to their growth, such as easing the supply side constraints in the economy, upskilling the workforce and increasing manufacturing competitiveness are still the major areas of concern, said the study.

The state policies should be focusing on diversifying the beneficiaries of the socio economic development programmes to ensure an all inclusive growth in the country; the states should also focus on the comparative advantages of their respective strengths and specializations and should also adopt best practices of each others strengths, suggested the study.

In a nutshell, the study said that the reforms undertaken by the state governments are expected to bring out strong outcomes which would pave the way for strong and sustainable economic growth of the country in the coming times. With the continuous increase in per capita income of the states, there exist a tremendous potential for expansion of consumer markets and enhanced employment opportunities with expanding production possibility frontiers

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