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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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Godrej Properties gains after acquiring land to build housing project
Sep 22,2016

The announcement was made after market hours yesterday, 21 September 2016.

Meanwhile, the BSE Sensex was up 290.38 points, or 1.02%, to 28,797.80.

On BSE, so far 8,670 shares were traded in the counter, compared with average daily volume of 56,297 shares in the past one quarter. The stock hit a high of Rs 345.95 and a low of Rs 340.20 so far during the day. The stock hit a 52-week high of Rs 386 on 9 August 2016. The stock hit a 52-week low of Rs 266.40 on 29 February 2016. The stock had underperformed the market over the past one month till 21 September 2016, falling 6.91% compared with 1.53% rise in the Sensex. The scrip had also underperformed the market in past one quarter, dropping 0.25% as against Sensexs 6.32% rise.

The mid-cap company has equity capital of Rs 108.18 crore. Face value per share is Rs 5.

Godrej Properties announced that it has acquired a land parcel measuring around 12 acres off Sarjapur Road in South Bangalore. The company plans to develop a residential housing project of approximately 92,900 square meters or around one million square feet. This project will be developed in partnership with Godrej Residential Investment Program II (GRIP II). This is the second project under GRIP II, the $275 million fund which was announced by the company in March 2016.

Godrej Properties had announced on 21 March 2016 that it had created a dedicated real estate funds management business in India and Singapore namely, Godrej Fund Management (GFM). GFM raised a $275 million or Rs 1900 crore pool of capital, Godrej Residential Investment Program II (GRIP II) with Dutch pension fund asset manager APG Asset Management N.V. (APG) as the lead investor. GFM advises GRIP II investors on investments into a residential development platform with Godrej Properties in India.

Godrej Properties consolidated net profit rose 9.2% to Rs 43.48 crore on 87.6% rise in net sales to Rs 234.76 crore in Q1 June 2016 over Q1 June 2015.

Godrej Properties is a real estate company.

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Apex Council Meeting Decides to Set up Telemetry System and Joint Teams for River Basin Study
Sep 22,2016

The Apex council meeting on Krishna river held in New Delhi today decided for setting up telemetry systems for water gauging on river Krishna to provide upto date data on flow of water in the river. The council under the Chairpersonship of Union Water Resources, River Development and Ganga Rejuvenation Sushri Uma Bharti also decided to constitute joint teams for river basin study of both the states. The joint teams will have experts from both the States and Centre. The teams will give their report about water sharing which will be forwarded to Krishna tribunal for speedy decision. Briefing media after the meeting Sushri Bharti said the meeting was held in a very cordial atmosphere. She said both the states will continue consultation on official levels on other related issues. The meeting was attended by Chief Minister of Andhra Pradesh Shri N Chandrababu Naidu and Chief Minister of Telangana Shri K Chandrashekar Rao.

Referring to todays cabinet approval for setting up of National Council for River Ganga, the Minister called it a turning point in Ganga Rejuvenation programme of the government. Sushri Bharti said this decision will give more teeth to the NMCG for environmental protection of river Ganga. The Minister said in order to ensure transparency and cost effectiveness, a provision for concurrent audit and safety audit has been made. She said this move will ensure effective abatement of pollution in Ganga and will help in maintaining ecological flow of the river. The Minister informed that by next week tenders will be issued for taping 22 major drains of 11 towns which account for 90 per cent of sewer flow into Ganga on hybrid annuity mode.

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Viaan Industries plans to set up subsidiary
Sep 22,2016

Viaan Industries announced that the Committee of Board of Director Meeting of the Company held on 21 September 2016, to consider & approved the following matter:

1. To Set up a 100% Subsidiary Company in Vanuatu.

2. To Make Investment in Bangalore based Company (proposed name is Celebrity Games).

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Sadbhav Infrastructure Project gets ratings assigned for NCDs
Sep 22,2016

Sadbhav Infrastructure Project announced that Credit Analysis & Research (CARE Ratings) has assigned CARE A+(SO) ( Single A plus (Structured Obligation)] for Non Convertible Debentures (NCDs) of Rs. 300 crore to the Company.

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Integrated Technologies announces resignaiton of compliance officer
Sep 22,2016

Integrated Technologies announced that meeting of the board of Director Sonu Priya Ranjan, who is an Associate member of Institute of Companies Secretaries of India, resigned from the Post of Secretarial & Compliance Officer w.e.f. 19 September 2016.

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Hinduja Global Solutions recognised as Leader By NelsonHall
Sep 22,2016

Hinduja Global Solutions announced its ranking as a Leader in the NelsonHall Vendor Evaluation and Assessment Tool (NEAT) for CustomerManagement Services in the Retail and Consumer Packaged Goods sector.

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The Byke Hospitality acquires two properties on long term lease
Sep 22,2016

The Byke Hospitality has acquired The Byke-Grassfield Riviera in Jaipur on long term lease. The Company has also acquired Hotel Delotel in Borivali, Mumbai on long term lease.

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KCP Sugar & Industries Corporation announces change in directorate
Sep 22,2016

KCP Sugar & Industries Corporation announced that K. R. Adivarahan has been appointed as an Additional Director on the Board of the Company at the Board Meeting held on 21 September 2016 in pursuance of section 161 of the Companies Act, 2013 to hold office upto the date of the next Annual General Meeting of the Company.

K. A. Rangaswamy, Non-wholetime Non-Independent Director on the Board of the Company, resigned from the directorship with effect from this afternoon as specified in his letter of resignation. The Board took on record his resignation in pursuance of section 168 of the Companies Act, 2013.

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HDFC gains after announcing plans to raise funds
Sep 22,2016

The announcement was made after market hours yesterday, 21 September 2016.

Meanwhile, the S&P BSE Sensex was up 328.50 points or 1.15% at 28,835.92.

On BSE, so far 4,847 shares were traded in the counter as against average daily volume of 1.54 lakh shares in the past one quarter. The stock hit a high of Rs 1,418 and a low of Rs 1,406.15 so far during the day. The stock had hit a record high of Rs 1,463.25 on 7 September 2016. The stock had hit a 52-week low of Rs 1,012 on 25 February 2016. The stock had outperformed the market over the past one month till 21 September 2016, advancing 1.65% compared with 1.53% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 12.48% as against Sensexs 6.32% rise.

The large-cap company has equity capital of Rs 316.71 crore. Face value per share is Rs 2.

HDFC announced that the company intends to raise Rs 1340 crore through issue of senior, secured, redeemable, non-convertible debentures on private placement basis. HDFC said that the debentures of face value of Rs 1 crore will carry a coupon rate of 7.67% per annum and will have a tenor of 1 year 2 months. The object of the issue is to augment the long term resources of the company. The proceeds of the issue would be utilised for financing/refinancing the housing finance business requirements of the company. The issue will open on 23 September 2016 and closes on the same day.

HDFCs net profit rose 37.5% to Rs 1870.73 crore on 19.4% growth in total income to Rs 8393.33 crore in Q1 June 2016 over Q1 June 2015.

HDFC is Indias first retail housing finance company and is currently one of the largest originators of housing loans in the country.

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Union Bank of India gains after completing stake acquisition in two joint ventures
Sep 22,2016

The announcement was made after market hours yesterday, 21 September 2016.

Meanwhile, the S&P BSE Sensex was up 323.46 points or 1.13% at 28,830.88

On BSE, so far 68,000 shares were traded in the counter as against average daily volume of 6.83 lakh shares in the past one quarter. The stock hit a high of Rs 147.50 and a low of Rs 144.10 so far during the day. The stock had hit a 52-week low of Rs 104.05 on 29 February 2016. The stock had hit a 52-week high of Rs 188.50 on 8 October 2015. The stock had underperformed the market over the past 30 days till 21 September 2016, advancing 4.39% compared with 1.85% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 12% as against Sensexs 5.57% rise.

The mid-cap bank has equity capital of Rs 687.44 crore. Face value per share is Rs 10.

Union Bank of India said that it has completed the acquisition of 49% shareholding of Union KBC Asset Management Company and Union KBC Trustee Company from KBC Participations Renta S.A. and its affiliates (KBC Asset Management NV) on 20 September 2016. Accordingly, Union KBC Asset Management Company and Union KBC Trustee Company have become wholly owned subsidiaries of Union Bank of India.

Last year, the board of Union Bank of India approved purchase of 49% stake in Union KBC Asset Management and Union KBC Trustee Company from KBC Participations Renta. KBC Participations Renta is a group company of Luxembourg-based KBC Asset Management NV.

Union Bank of India and KBC Asset Management NV had formed two joint ventures - Union KBC Asset Management Company and Union KBC Trustee Company - in 2009 with 51% and 49% holding, respectively.

Union Bank of Indias net profit fell 67.9% to Rs 166.32 crore on 1.4% decline in total income to Rs 8916.51 crore in Q1 June 2016 over Q1 June 2015.

Union Bank of India is one of largest state-owned banks in India. The Government of India (GoI) held 63.44% in Union Bank of India (as per the shareholding pattern as on 30 June 2016).

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Mahindra & Mahindra recalls New Generation Scorpio & NuvoSport vehicles
Sep 22,2016

Mahindra & Mahindra announced the proactive inspection of a fluid hose on all New Generation Scorpio & NuvoSport vehicles, manufactured till June 2016, respectively. The inspection and subsequent rectification will be carried out free of cost for all New Generation Scorpio & NuvoSport customers, who will be individually contacted by the Company.

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IWAI Signs Contract with DST, Germany for Designing Special Vessels for NW-1
Sep 22,2016

With its objective of providing safe, environment friendly and economical mode of transportation through National Waterway-1 (NW-1), The Inland Waterways Authority of India (IWAI), Ministry of Shipping signed a contract with M/s DST, Germany to design vessels, especially suited to navigate the 1620 km stretch of NW-1.

Speaking on the occasion a senior IWAI official said it is a revolutionary step and a milestone in the journey of NW-1. n++The objective of IWAI is to go along with nature and disturb the river minimally. The specially designed vessels will navigate on low drafts and will be of high carrying capacity, and most importantly, will be environment friendly,n++ he said.

Considering the expected growth of the Inland Waterways sector in India, DST, Germany is expected to develop a combination of standardised vessels to meet the requirement of various types of cargo. One of the most important navigational challenges for NW-1 is the kind of vessels that will play on the Ganga-Bhagirathi-Hooghly stretch. Keeping in view the difficult hydro-morphological characteristics of the river in the upper reaches between Patna and Varanasi, it is important to have vessels which can ply on low draft, with high carrying capacity, and are economically viable and environment friendly.

Earlier in August 2016, the Honble Minister for Road Transport, Highways and Shipping Sh. Nitin Gadkari flagged off the trial run of two cargo vessels from Varanasi on NW-1(River Ganga). Keeping in view the demand for transportation of cars through NW-1, M/s DST,Germany has been initially tasked to develop low draft vessels that can carry up to 150-200 vehicles.

Government is developing NW-1 under the Jal Marg Vikas Project, with assistance from the World Bank at an estimated cost of Rs. 4,200 crore. The project would enable commercial navigation of vessels with capacity of 1500-2,000 tons.Phase-I of the project covers the Haldia-Varanasi stretch. The project includes development of fairway, Multi-Modal Terminals at Varanasi, Haldia, and Sahibganj, strengthening of river navigation system, conservancy works, modern River Information System (RIS), Digital Global Positioning System (DGPS), night navigation facilities, modern methods of channel marking, construction of a new state of the art navigational lock at Farakka etc.

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Maplle Infraprojects to hold AGM
Sep 22,2016

Maplle Infraprojects announced that the 28th Annual General Meeting(AGM) of the company on 30 September 2016.

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Gold Rock Investments to hold board meeting
Sep 22,2016

Gold Rock Investments will hold a meeting of the Board of Directors of the Company on 27 September 2016 Change in KMP

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Pratibha Industries to hold board meeting
Sep 22,2016

Pratibha Industries will hold a meeting of the Board of Directors of the Company on 21 September 2016.

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