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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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Asian Paints to hold board meeting
Oct 04,2016

Asian Paints will hold a meeting of the Board of Directors of the Company on 25 October 2016.

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Gayatri Projects to hold board meeting
Oct 04,2016

Gayatri Projects will hold a meeting of the Board of Directors of the Company on 13 October 2016.

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Elantas Beck India to hold board meeting
Oct 04,2016

Elantas Beck India will hold a meeting of the Board of Directors of the Company on 5 October 2016 The approval is subject to the terms and conditions to be agreed vide Memorandum of Understanding to be executed between the Company and Mr. Ajay Pitre, Pune and also subject to the compliance of the regulatory requirements and due diligence.

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Finolex Cables to hold board meeting
Oct 04,2016

Finolex Cables will hold a meeting of the Board of Directors of the Company on 10 November 2016.

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JB Chemicals & Pharamaceuticals to hold board meeting
Oct 04,2016

JB Chemicals & Pharamaceuticals will hold a meeting of the Board of Directors of the Company on 18 November 2016 to consider and approve unaudited financial results for the quarter ended on September 30, 2016.

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Indian Hume Pipe Company to hold board meeting
Oct 04,2016

Indian Hume Pipe Company will hold a meeting of the Board of Directors of the Company on 26 October 2016 to consider, the Unaudited Financial Results for the 2nd quarter & 1st half-year ended September 30, 2016.

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Realty shares firm up after rate cut
Oct 04,2016

Oberoi Realty (up 3.33%), Sunteck Realty (up 1.53%), Anant Raj (up 1.32%), Peninsula Land (up 1.27%), D B Realty (up 1.20%), Unitech (up 1%), DLF (up 0.52%), Mahindra Lifespace Developers (up 0.44%), Godrej Properties (up 0.41%), Sobha (up 0.37%), Omaxe (up 0.29%) and Housing Development and Infrastructure (HDIL) (up 0.18%), edged higher. Prestige Estates Projects (down 0.44%), Parsvnath Developers (down 0.86%), Indiabulls Real Estate (down 0.96%) and Phoenix Mills (down 0.96%), edged lower.

The S&P BSE Realty index was up 1.06% at 1,574.20. It outperformed the Sensex, which was up 116.43 points or 0.41% at 28,359.72.

The S&P BSE Realty index had outperformed the market over the past 30 days till 3 October 2016, rising 2.10% compared with 1.01% decline in the Sensex. The index had, however, underperformed the market in past one quarter, falling 0.56% as against Sensexs 3.96% rise.

Purchases of both residential and commercial property are largely driven by finance.

The Reserve Bank of India (RBI) after the conclusion of its monetary policy meeting today, 4 October 2016, announced reduction in the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points (bps) to 6.25% from earlier 6.5% with immediate effect. Consequently, the reverse repo rate under the LAF stands adjusted to 5.75% and the marginal standing facility (MSF) rate and the bank rate to 6.75%.

The decision of the Monetary Policy Committee (MPC) is consistent with an accomodative stance of monetary policy in consonance with the objective of achieving consumer price index (CPI) inflation at 5% by Q4 March 2017 and the medium-term target of 4% within a band of plus or minus 2%, while supporting growth. All the six members voted in favour of MPC decision.

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Bank stocks edge higher after RBI cuts repo rate
Oct 04,2016

Among the public sector banks, Union Bank of India (up 6.35% at Rs 152.50), Bank of India (up 3.57% at Rs 120.45), Canara Bank (up 3.08% at Rs 329.20), Punjab National Bank (up 2.05% at Rs 146.55), IDBI Bank (up 1.97% at Rs 72.40), State Bank of India (up 1.33% at Rs 258.60), United Bank of India (up 1.17% at Rs 21.60), Bank of Baroda (up 1.04% at Rs 170.50) and Indian Bank (up 0.67% at Rs 225.50) edged higher.

Among private sector banks, Federal Bank (up 1.01% at Rs 75.25), Yes Bank (up 0.92% at Rs 1,282.85), ICICI Bank (up 0.92% at Rs 258.40), Kotak Mahindra Bank (up 0.63% at Rs 792.60), RBL Bank (up 0.3% at Rs 298) and HDFC Bank (up 0.24% at Rs 1,290) edged higher. IndusInd Bank (down 0.84% at Rs 1,221.90) and Axis Bank (down 0.84% at Rs 546.30) edged lower.

The S&P BSE Bankex index was up 0.19% at 22,438.79. It underperformed the Sensex which was up 78.04 points or 0.28% at 28,321.33.

The S&P BSE Bankex index had underperformed the market over the past one month till 3 October 2016, sliding 1.78% compared with 1.01% fall in the Sensex. The index had, however, outperformed the market in past one quarter, gaining 8.63% as against Sensexs 4.05% rise.

The Reserve Bank of India (RBI) after the conclusion of its monetary policy meeting today, 4 October 2016, announced reduction in the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points (bps) to 6.25% from earlier 6.5% with immediate effect. Consequently, the reverse repo rate under the LAF stands adjusted to 5.75% and the marginal standing facility (MSF) rate and the bank rate to 6.75%.

The decision of the Monetary Policy Committee (MPC) is consistent with an accomodative stance of monetary policy in consonance with the objective of achieving consumer price index (CPI) inflation at 5% by Q4 March 2017 and the medium-term target of 4% within a band of plus or minus 2%, while supporting growth. All the six members voted in favour of MPC decision.

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Monetary Policy Committee (MPC) reduces policy repo rate by 25 bps to 6.25%
Oct 04,2016

On the basis of an assessment of the current and evolving macroeconomic situation at its meeting today, the Monetary Policy Committee (MPC) decided to:

n++ reduce the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points from 6.5 per cent to 6.25 per cent with immediate effect.

Consequently, the reverse repo rate under the LAF stands adjusted to 5.75 per cent, and the marginal standing facility (MSF) rate and the Bank Rate to 6.75 per cent.

The decision of the MPC is consistent with an accommodative stance of monetary policy in consonance with the objective of achieving consumer price index (CPI) inflation at 5 per cent by Q4 of 2016-17 and the medium-term target of 4 per cent within a band of +/- 2 per cent, while supporting growth. The main considerations underlying the decision are set out in the statement below

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IT stocks gain on positive US economic data
Oct 04,2016

HCL Technologies (up 1.2% at Rs 818.50), Oracle Financial Services Software (up 1.51% at Rs 3,313.20), Tech Mahindra (up 0.97% at Rs 424.95), Infosys (up 0.73% at Rs 1,045.45), Wipro (up 0.62% at Rs 481.50), MindTree (up 1.15% at Rs 494.30), Hexaware Technologies (up 0.99% at Rs 192.90), MphasiS (up 0.56% at Rs 541) and Persistent Systems (up 1.53% at Rs 650.10) edged higher. TCS (down 0.2% at Rs 2,407) edged lower.

Meanwhile, the S&P BSE IT index was up 0.45% at 10,289.32. It outperformed the Sensex which was up 93.05 points or 0.33% at 28,336.34.

The S&P BSE IT index had underperformed the market over the past one month till 3 October 2016, sliding 1.53% compared with 1.01% fall in the Sensex. The index had also underperformed the market in past one quarter, declining 8.2% as against Sensexs 4.05% rise.

The Institute for Supply Management said yesterday, 3 October 2016 its manufacturing index showed activity expanded in US last month after shrinking in August, with new orders and factory production rising as employment fell. US is the biggest outsourcing market for Indian IT services firms.

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Dena Bank gains after allotting preferential shares to government
Oct 04,2016

The announcement was made during trading hours today, 4 October 2016.

Meanwhile, the BSE Sensex was up 76.36 points, or 0.27%, to 28,319.65.

On BSE, so far 1.64 lakh shares were traded in the counter, compared with average daily volume of 1.65 lakh shares in the past one quarter. The stock hit a high of Rs 39.10 and a low of Rs 37.40 so far during the day. The stock hit a 52-week high of Rs 47.70 on 1 December 2015. The stock hit a 52-week low of Rs 25.60 on 26 February 2016. The stock had outperformed the market over the past 30 days till 3 October 2016, rising 3.45% compared with 1.01% decline in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 12.28% as against Sensexs 3.96% rise.

The small-cap state-run bank has equity capital of Rs 666.93 crore. Face value per share is Rs 10.

Dena Bank said that the issue committee of the board at its meeting held on 3 October 2016 has allotted 12.02 crore equity shares of Rs 10 each at the issue price of Rs 37.10 per equity share to the Government of India on preferential basis, aggregating upto Rs 446 crore.

With this allotment, the subscribed and paid-up capital of the bank increased to Rs 787.15 crore, consisting of 78.71 crore equity shares of Rs 10 each. The governments stake in the bank has increased to 68.55% from 62.89% earlier.

Dena Bank reported net loss of Rs 279.35 crore in Q1 June 2016 as against net profit of Rs 15.16 crore in Q1 June 2015. Operating income fell 0.3% to Rs 2907.35 crore in Q1 June 2016 over Q1 June 2015.

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Elantas Beck inches up after boards in-principle nod for sale of property in Pune
Oct 04,2016

The announcement was made during market hours today, 4 October 2016.

Meanwhile, the S&P BSE Sensex was up 62.35 points or 0.22% at 28,305.64.

On BSE, so far 2,512 shares were traded in the counter as against average daily volume of 2,587 shares in the past one quarter. The stock was volatile. The stock surged as much as 4.72% at the days high of Rs 1,743 so far during the day. The stock lost as much as 0.19% at the days low of Rs 1,661.10 so far during the day. The stock had hit a 52-week high of Rs 1,849.95 on 13 July 2016. The stock had hit a 52-week low of Rs 1,160 on 1 March 2016. The stock had outperformed the market over the past one month till 3 October 2016, gaining 1.4% compared with 1.01% fall in the Sensex. The scrip had, however, underperformed the market in past one quarter, advancing 3.38% as against Sensexs 4.05% rise.

The mid-cap company has equity capital of Rs 7.93 crore. Face value per share is Rs 10.

Elantas Beck Indias board of directors at its meeting held today, 4 October 2016, granted its in-principle approval for the sale of companys property at Beck House in Pune admeasuring about 2,238.25 sq. mts to Ajay Pitre including his family members or legal entities nominated by him, at a lumpsum consideration of not less than Rs 24 crore.

The approval is subject to the terms and conditions to be agreed vide Memorandum of Understanding to be executed between the company and Ajay Pitre, Pune and also subject to the compliance of the regulatory requirements and due diligence. The proposal will be finally approved at the forthcoming meeting of the board of directors scheduled to be held on 25 October 2016.

Elantas Beck Indias net profit rose 11.3% to Rs 14.06 crore on 5.3% growth in net sales to Rs 97.34 crore in Q2 June 2016 over Q2 June 2015.

Elantas Beck India manufactures a wide range of specialty chemicals for electrical insulation and construction industries.

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Multipurpose Trading & Agencies to hold AGM
Oct 04,2016

Multipurpose Trading & Agencies announced that the 38th Annual General Meeting(AGM) of the company on 30 September 2016.

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Orient Paper & Industries to hold board meeting
Oct 04,2016

Orient Paper & Industries will hold a meeting of the Board of Directors of the Company on 17 October 2016 to consider Unaudited Quarterly Financial Results of the Company for the quarter / half year ended September 30, 2016 .

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Exide Industries to hold board meeting
Oct 04,2016

Exide Industries will hold a meeting of the Board of Directors of the Company on 26 October 2016 to consider and approve the unaudited financial results of the Company for the quarter ended September 30, 2016 (Q2).

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