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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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Bengaluru most hospitable to tech start-ups; NCR next best, says ASSOCHAM Paper
Aug 22,2016

Bengaluru is host to the largest share of technology driven start-ups, followed by the Delhi NCR and Mumbai while Hyderabad and Chennai are also quite popular among the techies who are budding entrepreneurs, according to an ASSOCHAM study.

The study done in association with the Thought Arbitrage found that in the technology driven start-ups, India has moved up to third position with the US occupying the top position with more than 47,000 and UK with over 4,500. Indias tech start - ups number around 4,200 up to 2015.

In terms of total number of start-ups, comprising tech and non-tech areas, India again figured among the five largest hosts in the world along with China. The number of start-ups in both India and China was 10,000 each. The US is at the number one position among the overall list of 83,000 budding entrepreneurs.

Of the Indian start-ups, riding on the technology, the IT hub Bengaluru was host of 26 per cent, followed by NCR with 23 per cent and Mumbai 17 per cent. In the catching up category fell Hyderabad with eight per cent, Chennai and Pune with six per cent each.

n++The disruptive innovation in technology and process is creating newer Indian start-ups and foreign investors including some of the well-known venture capial funds are showing immense interest in these start-ups,n++ ASSOCHAM President Mr. Sunil Kanoria said.

The awareness that a start-up is a vehicle of rapid growth through technological n++disruptionn++ and innovation, has to spread across the economy. n++Only then, there can be a true start-up revolution; otherwise if any small traditional business is treated as a start-up then the start-up eco system will never develop properly. Realisation of this distinction needs to percolate to all strata of the policy making and economy to ensure that a real support system for the start-ups, in terms of technology, hand-holding, funding and rapid growth, can develop properly in the countryn++, the paper noted.

It said synergizing Start up India with Make in India and Digital India has the potential to expand Indian eco system for the new entrepreneurs. The paper suggested tax exemption for research and experimentation to encourage fresh ideas without fear of failure. Suggesting a Stanford University model in various Indian universities, the ASSOCHAM-Thought Arbitrage paper said courses on creation of small businesses should be encouraged in the learning campuses.

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TVS Srichakra drops after poor Q1 result
Aug 22,2016

The announcement was made on Saturday, 20 August 2016.

Meanwhile, the S&P BSE Sensex was up 27.23 points, or 0.1%, to 28,104.23

On BSE, so far 415 shares were traded in the counter as against average daily volume of 985 shares in the past one quarter. The stock hit a high of Rs 2,514.80 and a low of Rs 2,450 so far during the day. The stock had hit a 52-week high of Rs 3,159.50 on 20 August 2015. The stock hit a 52-week low of Rs 1,945.10 on 29 February 2016. The stock had outperformed the market over the past one month till 19 August 2016, rising 6.14% compared with 1.32% rise in the Sensex. The scrip, however, underperformed the market in past one quarter, gaining 8.34% as against Sensexs 10.97% rise.

The small-cap tyres manufacturer has equity capital of Rs 7.66 crore. Face value per share is Rs 10.

TVS Srichakra is one of Indias leading two-and three-wheeler tyre manufacturer. The company is recognised as a large manufacturer of industrial pneumatic tyres, flotation, motorgrader, farm & implement tyres, skid steer tyres, multipurpose tyres and vintage tyres.

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SBI gains on fund raising plans
Aug 22,2016

The announcement was made on Saturday, 20 August 2016.

Meanwhile, the BSE Sensex was up 26.86 points, or 0.1% to 28,103.86.

On BSE, so far 3.03 lakh shares were traded in the counter, compared with average daily volume of 29.59 lakh shares in the past one quarter. The stock hit a high of Rs 260.50 and a low of Rs 258.60 so far during the day. The stock hit a 52-week high of Rs 281.65 on 20 August 2015. The stock hit a 52-week low of Rs 148.30 on 12 February 2016. The stock had outperformed the market over the past one month till 19 August 2016, rising 12.54% compared with 1.04% gains in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 49.51% as against the Sensexs 10.54% rise.

The large-cap state-run bank has equity capital of Rs 776.28 crore. Face value per share is Re 1.

State Bank of India (SBI) said that the committee of directors will meet on 24 August 2016, to consider and examine the status and decide on long term AT1 fund raising in single/multiple tranches in domestic/foreign currency through a public offer and/or private placement during the financial year ending 31 March 2017.

Meanwhile, SBI announced late last week the merger of 5 associate banks viz. State Bank of Bikaner and Jaipur (SBBJ), State Bank of Mysore (SBM), State Bank of Travancore (SBT), State Bank of Hyderabad and State Bank of Patiala with itself. SBI also announced the merger of unlisted Bharatiya Mahila Bank (BMBL) with itself. As per the swap ratio for the merger, 28 equity shares of SBI will be issued for every 10 shares held in SBBJ. For both SBM and SBT, the swap ratio for merger is 22 shares of SBI for every 10 shares held in SBM and SBT. SBBJ, SBM, and SBT are listed associate banks of SBI while State Bank of Hyderabad and State Bank of Patiala are the unlisted associate banks of SBI.

SBIs net profit fell 31.7% to Rs 2520.96 crore on 9.4% rise in net sales to Rs 48928.60 crore in Q1 June 2016 over Q1 June 2015.

SBI is Indias biggest bank in terms of branch network. The Government of India currently holds 60.18% stake in SBI (as per the shareholding pattern as on 30 June 2016).

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Outcome of board meeting of Confidence Petroleum India
Aug 22,2016

Confidence Petroleum India announced that the Board of Directors of the Company at its meeting held on 20 August 2016, has transacted the following;

1. Recommended, Subject to such other approvals as maybe required and in accordance with all applicable laws, rules and regulations, to create, issue and allot 3,00,00,000 (Three Crore) warrants.

2. Recommended, Subject to such other approvals as maybe required and in accordance with all applicable laws, rules and regulations, to create, issue and allot 20,00,000 (Twenty Lacs) Shares under Employee Stock Option Scheme.

3. The Statutory Auditors of the Company M/s. Bhandari & Associates, Chartered Accountants have intimated their unwillingness to be Statutory Auditors of the Company due to health issues. The Board of Directors have received consent and eligibility from the M/s. Akhil Rathi & Co. Chartered Accountants, Nagpur & M/s Ganesh Adukia & Associates, Chartered Accountants, Mumbai for appointment as Joint statutory auditors of the Company Subject to the approval of Shareholder.

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Olympia Industries gets ratings assigned for Bank facilities
Aug 22,2016

Olympia Industries has received the credit rating from SMERA RATINGS letter dated 19 August 2016.

The Rating Action for credit facilities from Bank for Rs. 15 crore of Olympia Industries is as follows:

Long Term Rating - SMERA BBB- /Stable

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NBCC (India) gains after new order win
Aug 22,2016

The announcement was made on Saturday, 20 August 2016.

Meanwhile, the S&P BSE Sensex was up 27.90 points, or 0.1%, to 28,104.90.

On BSE, so far 6,561 shares were traded in the counter, compared with average daily volume of 2.16 lakh shares in the past one quarter. The stock hit a high of Rs 245.95 and a low of Rs 243 so far during the day. The stock hit a record high of Rs 267 on 13 July 2016. The stock hit a 52-week low of Rs 162 on 12 February 2016.

The large-cap company has an equity capital of Rs 120 crore. Face value per share is Rs 2.

NBCC (India) said that Archaeological Survey of India (ASI), Government of India has executed Memorandum of Understanding (MOU) with the company on 19 August 2016 for assigning work for construction of Institute of Archaeology and UNESCO Category-II Centre at Sector Knowledge Park-II, Greater Noida amounting to about Rs 120 crore.

On a consolidated basis, net profit of NBCC (India) rose 5.9% to Rs 141.48 crore on 38.8% rise in net sales to Rs 2251.14 crore in Q4 March 2016 over Q4 March 2015.

NBCC is a blue-chip Government of India (GoI) Navratna Enterprise under the Ministry of Urban Development, in construction sector. The GoI held 90% stake in the firm (as per shareholding pattern as on 30 June 2016).

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PC Jeweller gets reaffirmation in ratings for FD programme
Aug 22,2016

PC Jeweller announced that Credit Analysis and Research has reaffimed its ratings to the fixed deposit programme (Rs 500 crore) of the Company at CARE A+(FD).

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Board of Bodhtree Consulting approves proposal to raise funds up to Rs 100 cr
Aug 22,2016

Bodhtree Consulting announced that the Board of Directors of the Company at its meeting held on 20 August 2016, has considered and approved, the proposal of fund raising up to the extent of Rs. 100 crore in one or more tranches by way of issue of Convertible Securities, Qualified Institutions Placement or Preferential Issue or other instruments as per SEBI (ICDR) Regulations, 2009 and other laws/guidelines, subject to the shareholders approval at the ensuing annual general meeting.

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Yes Bank announces change in directorate
Aug 22,2016

Yes Bank has received the approval of the Reserve Bank of India for appointment of Ashok Chawla, Independent Director as Non-Executive Part-Time Chairman of the Bank for a period of three years with effect from 30 October 2016. He will replace Radha Singh.

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Sun TV Network in focus after declaring Q1 result
Aug 22,2016

Sun TV Networks net profit rose 19.02% to Rs 233.06 crore on 9.89% growth in total income to Rs 782.38 crore in Q1 June 2016 over Q1 June 2015. Sun TV Networks earnings before interest, taxation, depreciation and amortization (EBITDA) rose 7.25% to Rs 436.43 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours on Friday, 19 August 2016.

State Bank of India (SBI) said that the committee of directors will meet on 24 August 2016, to consider and examine the status and decide on long term AT1 fund raising in single/multiple tranches in domestic/foreign currency through a public offer and/or private placement during the financial year ending 31 March 2017. The announcement was made on Saturday, 20 August 2016.

NBCC (India) said that Archaeological Survey of India (ASI), Government of India has executed Memorandum of Understanding (MOU) with the company on 19 August 2016 for assigning work for construction of Institute of Archaeology and UNESCO Category-II Centre at Sector Knowledge Park-II, Greater Noida amounting to about Rs 120 crore. The announcement was made on Saturday, 20 August 2016.

Among key earnings, NTPC and HPCL are scheduled to announce Q1 June 2016 results today, 22 August 2016.

IL&FS Engineering and Construction Company and Unitech Power Transmission joint venture has received a Letter of Award (LoA) from Power Grid Corporation of India (PGCIL) for supply contract for tower package for 765 kilovolt D/C Bhujn++ Banaskanta Transmission Line associated with Green Energy Corridors: Inter-State Transmission Scheme (ISTS) - Part C, along with contract for construction works of this line in the state of Gujarat. The total value of this contract is Rs 136.26 crore, and the project completion period is 23 months from the date of issue of the LOA. IL&FS Engineering Services is the lead partner for this contract. This contract has been won under ICB bidding process, and project is funded under KWU loan. The announcement was made on Saturday, 20 August 2016.

TVS Srichakras net profit fell 6% to Rs 46.51 crore on 8.4% growth in net sales to Rs 507.99 crore in Q1 June 2016 over Q1 June 2015. The announcement was made on Saturday, 20 August 2016.

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Additional facilities extended to persons residing in India on Long-Term Visa (LTV)
Aug 20,2016

The Central Government has extended certain facilities in last two years to persons from Minority community of Afghanistan, Bangladesh and Pakistan, namely Hindus, Sikhs, Buddhists, Jains, Parsis and Christians staying on Long Term Visa (LTV) in India, such as affidavit in place of renunciation certificate, LTV for five years instead of two years, facilities for education and employment, etc.

In order to provide them fair opportunities for a more comfortable living and hassle-free movement and pursuit of economic activities within the territory of India, Government has decided to extend the following additional facilities to this class of LTV holders:

Permission to open bank account

Permission for purchase of property for self occupation and suitable accommodation for carrying out self-employment.

Permission to take self employment.

Issuance of driving licence, PAN card and Aadhar number.

Allowing free movement within the State /UT where they are staying.

Transfer of LTV papers from one State to other.

Reduction of penalty amount to Rs.100, Rs.200 and Rs.500 instead of existing amount of $30, $130, $230 on non-extension of short term Visa /LTV.

Permission to apply for LTV from the place of present residence when the applicants have changed place without permission.

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Unisys Softwares and Holding Industries appoints compliance officer
Aug 20,2016

Unisys Softwares and Holding Industries announced that Kanchan Jhawar has been appointed as Compliance Officer of the Company w.e.f. 01 July 2016 in place of Vijay Laxmi Purohit who has resigned from the Board w.e.f. 01 July 2016.

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IFGL Refractories wins Export Performance Award for the year 2015-2016 in Large Scale Sector
Aug 20,2016

IFGL Refractories announced that on 19 August 2016, the Company has been conferred Highest in Export Performance Award for the year 2015-2016 in Large Scale Sector by Indian Refractory Makers Association.

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ARSS Infrastructure Projects JV secures Rs 53.33 cr project
Aug 20,2016

ARSS Infrastructure Projects announced that a work order amounting to Rs.53.33 crore namely n++Jagdalpur - Kirandul Doubling Project- Execution of Earthwork in formation, Minor bridges and other allied works from Km.351.50 to Km.383.10 of Kumharsodra (Excluding) - Kaklur (Including) - Kawargaon (Including) - Dabpal (Excluding) section in connection with phase III doubling between Silakhjhori- Gidam on KK line of WAT Division, East Coast Railwayn++ has been awarded in favour one of its Joint Venture (JV) i.e. n++ARSS-HMS (JV)n++ by East Coast Railway, Bhubaneswar on 16 August 2016.

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Board of Sadbhav Engineering appoints director
Aug 20,2016

Sadbhav Engineering announced that the Board of Directors of the Company at its meeting held on 20 August 2016 at 11.00 a.m. and concluded at 02:15 p.m., inter alia, has approved :

- The appointment of Vipul H. Patel, B.E. Civil, as Additional Director and Executive Director of the Company w.e.f. 20 August 2016 subject to the approval of members in general meeting.

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