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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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Bond Gains to Halt; Rupee Anchored
Aug 22,2016

The appointment of Dr Urjit Patel as the new Reserve Bank of India (RBI) Governor signals the reassertion of policy continuity by policy makers. Bond gains are likely to halt and the currency will continue to face global risk shifts. The 10-year yield is likely to trade at 7.08%-7.18% (7.10% at close on 19 August) and the rupees trading range is likely to be 66.65/USD-67.25/USD (67.06/USD at close on 19 August) this week.

The RBIs ongoing approach towards monetary policy has been reinforced by the appointment of Dr Patel. Dr Patel chaired the committee that recommended the inflation-targeting mechanism in 2014 and also led the monetary policy department at RBI. Hence, the agency believes that the policy approach will remain unchanged in the short term.

Debt Market Momentum to Halt: The rally in the bond market since the beginning of July 2016 was led by several positives: benign global conditions, low crude oil prices and adequate domestic liquidity. The agency believes that in the absence of meaningful triggers, debt investors are likely to be in a wait and watch mode. Further cuts in the repo rate are unlikely to take place in the near future until retail inflation sustainably moderates. In the absence of any incremental positive developments and limited scope for open market operation purchases, upward bias for bond yields remains.

Rupee Bias to Stay Positive: The agency believes market perception of Dr Patel as an inflation hawk will anchor the rupees near-term movement. Additionally, global conditions are reasonably conducive to the rupees strength. Mixed signals from US policymakers over the timing of the next Fed rate hike have reined in the USDs strength. Fed Chair Janet Yellens speech at the Jackson Hole symposium on 26 August could provide insights into the Feds own assessment of the US economy. Downside risks for the rupee are likely to emerge on two counts: 1) weak foreign portfolio flows and 2) the potential resurgence of risk-off sentiment.

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GP Petrochem to distribute GP Petroleums IPOL brand of lubricant
Aug 22,2016

GP Petrochem announced that it will distribute Indian subsidiary GP Petroleums iconic IPOL brand of lubricant in the UAE and Oman, in partnership with NGC Energy and with National Gas Company SAOG in Oman over a period of five years.

Both partners have already set targets of 100 MT/month of lubricant volumes each in the UAE and Oman, by the end of the first year of trading.

Operations are expected to fully commence in Q3 of 2016, with National Gas Co and NCG Energy currently recruiting additional sales staff and developing infrastructure facilities, including warehouses and delivery vehicles, as part of the agreement.

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Silverpoint Infratech to hold AGM
Aug 22,2016

Silverpoint Infratech announced that the Annual General Meeting (AGM) of the company will be held on 29 September 2016.

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Board of Mahanagar Gas recommends special dividend
Aug 22,2016

Mahanagar Gas announced that the Board of Directors of the Company at its meeting held on 30 May 2016, inter alia, have recommended the special dividend of Rs 7.5 per equity Share (i.e. 75%) , subject to the approval of the shareholders.

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Board of Mahanagar Gas recommends final dividend
Aug 22,2016

Mahanagar Gas announced that the Board of Directors of the Company at its meeting held on 30 May 2016, inter alia, have recommended the final dividend of Rs 10 per equity Share (i.e. 100%) , subject to the approval of the shareholders.

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Mahabir Metallex to hold board meeting
Aug 22,2016

Mahabir Metallex will hold a meeting of the Board of Directors of the Company on 30 August 2016, to receive, consider and adopt the Audited Balance Sheet as at March 31, 2016 and Profit & Loss Account for the period ended on that date,to approve the notice for calling 13th Annual General Meeting of the Company.

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Trinity Tradelink to hold board meeting
Aug 22,2016

Trinity Tradelink will hold a meeting of the Board of Directors of the Company on 30 August 2016.

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Comfort Commotrade to hold AGM
Aug 22,2016

Comfort Commotrade announced that the Annual General Meeting (AGM) of the company will be held on 24 September 2016.

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Comfort Intech to hold AGM
Aug 22,2016

Comfort Intech announced that the Annual General Meeting (AGM) of the company will be held on 17 September 2016.

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Maruti Securities to hold AGM
Aug 22,2016

Maruti Securities announced that the 22nd Annual General Meeting (AGM) of the company will be held on 30 September 2016.

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Infinite Computer Solutions India to hold AGM
Aug 22,2016

Infinite Computer Solutions India announced that the 17th Annual General Meeting (AGM) of the company will be held on 29 September 2016.

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Sree Jayalakshmi Autospin to hold AGM
Aug 22,2016

Sree Jayalakshmi Autospin announced that the Annual General Meeting (AGM) of the company will be held on 26 September 2016.

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Hittco Tools to hold board meeting
Aug 22,2016

Hittco Tools will hold a meeting of the Board of Directors of the Company on 3 September 2016.

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Mangalore Refinery And Petrochemicals to hold board meeting
Aug 22,2016

Mangalore Refinery And Petrochemicals will hold a meeting of the Board of Directors of the Company on 3 September 2016, to consider and approve Un-audited Financial Results for the quarter ended 30 June 2016 (Q1).

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Bilcare to hold AGM
Aug 22,2016

Bilcare announced that the 29th Annual General Meeting (AGM) of the company will be held on 14 September 2016.

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