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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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Board of Apollo Finvest (India) approves change in registered office
Sep 19,2016

Apollo Finvest (India) announced that the Board of Directors of the Company at its meeting held on 19 September 2016 has transacted the following Business:

- Shifting of registered office from its present situation at Jewel Arcade Plot No. 123, TPS IV, Waterfield Road, Bandra W, Mumbai - 400050 to Unit No. 803, Blue Moon, 8th Floor, Veera Industrial Estate, New Link Road, Opp. Laxmi Industrial Estate, Andheri (West), Mumbai - 400 053.

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Asian Paints provides update on consolidation of its overseas subsidiaries
Sep 19,2016

Asian Paints announced that as a part of the Companys plan to consolidate its investments in the overseas subsidiaries, Asian Paints (International) (APIL), Mauritius, a wholly owned subsidiary of the Company has transferred its entire holding of 99.18% held in the subsidiary Company, Asian Paints (Lanka), Sri Lanka, to Berger International, Singapore, a wholly owned subsidiary of APIL. The transfer process has been completed on 19 September 2016.

None of the Promoters, Directors, Key Managerial Personnel or their relatives are directly / indirectly interested in the aforesaid proposal.

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Unison Metals gets revision in ratings for bank facilities
Sep 19,2016

Unison Metals announced that CARE has revised rating of Unison metals for Long Term Bank facilities from CARE BB- to CARE BB.

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States should execute Central Schemes on a faster mode- Tomar
Sep 19,2016

The Centre today urged the States to speed up the execution of Central Schemes to achieve the goal of developed India. Addressing an All India Conclave of Rural Development and Panchayati Raj Ministers at Guwahati, Assam, the Minister for Rural Development, Panchayati Raj and Drinking Water & Sanitation Shri Narendra Singh Tomar said that development of India is intrinsically linked to development of villages. He lamented that despite 70 years of Independence, India is still lagging on several developmental parameters.

Shri Tomar said that first time since Independence, the NDA Government led by Shri Narendra Modi has fixed the target years for completion of several major Central scemes, otherwise these were being executed in routine fashion. Giving the example of a housing programme called Pradhan Mantri Aawas Yojana (PMAY) to be launched shortly, he said by 2019, one crore houses will be provided to the eligible beneficiaries after taking into consideration of SECC census, 2011 and 40 lakh incomplete houses will be completed under the old scheme of Indira Aawas Yojana. He added that by 2022, all the deprived sections of society will be given pucca houses under PMAY.

Similarly, speaking on the issue of Pradhan Mantri Gram Sadak Yojana, Shri Tomar said that that between the year 2011-2014, only 73 Kilometers of rural roads were built daily , while between 2014 to 2016, it has increased to 100 kilometers per day and this year up to 140 kilometers of roads are being built each day. He said that 15 percent of rural roads built under PMGSY are using Green technologies like cold mix, fly ash, geo-textiles, plastic and other waste materials and urged the States to use this technology on a larger scale. He urged the States to complete the road projects in timely fashion to avail the Central funds and incentives as budget is no constraint for PMGSY.

Shri Tomar said that apart from development of rural infrastructure, the programmes like Aajevika and skill development can transform the lives of rural poors, besides augmenting their income. He informed that there are 27 lakh Self Help Groups in the country with 3 crore women as members and they have availed about Rs 30,000 crore of bank loans to make local profitable products. Shri Tomar Said, about 15 crore family members are roughly covered under Aajevika Mission and he urged the State governments to help them find suitable markets to sell their products at profitable margins.

Speaking on the Swachh Bharat Mission, the Minister urged the State Governments to undertake campaigns on a large scale for behavioral change. He said, the Swachh mission should not remain a government programme, rather it should become a peoples movement. He informed that Sikkim is the first State which has become ODF( Open Defecation Free) and there are 19 Districts, 249 Blocks and more than 80,000 Villages which have become ODF. Shri Tomar reiterated that Shri Narendra Modi has set the target of making India clean by 2nd October, 2019, which is the 150th birth anniversary of Mahatma Gandhi and added that though the target is very tough, but still achievable, provided there is strong will to achieve the same.

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Rupee firm
Sep 19,2016

Rupee closed higher at 66.9575/9675 per dollar on Monday (19 September 2016), versus its previous close of 67.08/09 per dollar last Friday.

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Outcome of board meeting of Reliance Infrastructure
Sep 19,2016

Reliance Infrastructure announced that the Board of Directors of the Company at its meeting held on 19 September 2016 approved the following proposals -

To amend the Object Clause of the Memorandum of Association of the Company to include new activities relating to - a) setting up any Trust, Funds including Venture Capital Funds, Infrastructure Investment Trust and Real Estate Investment Trust and other Alternative Investment Funds. b) Defence Business.

To amend existing Article of Association of the Company to bring it in line with the provision of the Companies Act 2013.

To seek an enabling authorisation of the shareholders under Section 180 (1) (a) of the Companies Act, 2013 and other applicable Regulations for transfer, sale or disposal of the whole or part of the undertaking of the Company.

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A2Z Infra Engineering appoints CFO
Sep 19,2016

A2Z Infra Engineering announced the appointment of Dr G R Nagendra as Chief Financial Officer of the Company with effect from 11 September 2016.

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TCS wins 2016 Oracle Partner Network (OPN) Cloud Program Solution: PaaS Partner of the Year award
Sep 19,2016

Tata Consultancy Services has been recognised for the third consecutive year with an Oracle Excellence Award, being named the 2016 Oracle Partner Network (OPN) Cloud Program Solution: PaaS Partner of the Year.

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Mangalam Cement starts commercial production of new cement grinding unit
Sep 19,2016

Mangalam Cement has commenced Commercial Production of the New Cement Grinding Unit with a capacity of 0.75 Million Ton Per Annum (MTPA) at Aligarh, Uttar Pradesh. The overall capacity is now enhanced from 3.25 MTPA to 4.00 MTPA.

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Shiva Suitings to hold AGM
Sep 19,2016

Shiva Suitings announced that the 30th Annual General Meeting(AGM) of the company on 30 September 2016.

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Fiem Industries to allot equity shares to QIBs
Sep 19,2016

Fiem Industries announced that the Fund Raising Committee of the Board of Directors of the Company at its meeting held on 19 September 2016 approved the issue and allotment of 11,97,604 equity shares of face value of Rs 10 each to qualified institutional buyers at the issue price of Rs 1002 per share, aggregating to Rs 119.99 crore.

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Jubilant FoodWorks announces resignation of director
Sep 19,2016

Jubilant FoodWorks announced that the Board of Directors of the Company at its meeting held on 19 September 2016 has accepted the resignation of Ajay Kaul as the CEO cum Whole Time Director of the Company.

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Dr Reddys Laboratories announces launch of Paricalcitol Injection
Sep 19,2016

Dr Reddys Laboratories has launched Paricalcitol Injection, USP, in 2 mcg, 5 mcg, 10 mcg, a therapeutic equivalent generic version of Zemplar (paricalcitol) Injection in the United States market approved by the US Food and Drug Administration.

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Availability and affordability of power is a key enabler to meet SDGs: Minister Piyush Goyal
Sep 19,2016

n++Electricity is key to achieving the Sustainable Development Goals (SDGs). India is a power surplus country and can generate 50 percent more power in relation to current production. Government of India is working on addressing last mile connectivity,n++ stated Mr Piyush Goyal, Minister of State (I/C) for Power, Coal, New & Renewable Energy and Mines, Government of India.

Mr Goyal stressed Indias commitment to its Intended Nationally Determined Contributions (INDCs) and to sustainable development and SDGs. He announced that the Government would shortly come up with a mandate for thermal power plants to utilize processed wastewater from a radius of 50 km and replace the fresh water utilization by treated wastewater.

He added that India is the only country which taxes carbon. Clean coal cess has been substantially increasing over past few years. Now it is time for the world to start looking at the consumption in terms of carbon footprint rather just exporting the pollution to other parts of the world. India is only contributing to 4 percent of the global GHG emissions while supporting 17 percent of world population, he noted, adding that the world must recognize the principle of polluter pays.

Mr. Yuri Afanasiev, UN Resident Coordinator & UNDP Resident Representative in India, said that given the size and complexity of social problems in India, the solutions to global challenges would be developed here over the next 10-15 years. India has come out with innovative solutions for developmental challenges like creation of 175 GW of renewable energy capacities, fulfilling Swachh Bharat targets etc. He stressed that the financial gap for meeting developmental goals can only be fulfilled by the private sector through sustainable and moderately profitable business models.

n++In the last few years, there have been great efforts, both at the global level as well as in India, to encourage industries to move towards sustainable business models,n++ said Mr. Ajay S Shriram, Past President, CII and Chairman & Senior Managing Director, DCM Shriram Limited. Mr Shriram lauded the governments efforts in increasing the share of renewable energy and mentioned that Indian industry has given green energy commitments of over 200,000 MW. He added that hydropower which has been an important source of energy in total energy portfolio should have faster environmental clearances particularly for small and micro hydropower projects.

Mr. Sanjiv Puri, Chief Operating Officer, ITC Limited, said that Indias INDCs have targeted lowering the carbon emission intensity to 33 to 35 percent by 2030 and proactive steps are required for energy security. Mr Puri mentioned the efforts of ITC to become water positive, carbon positive and positive on waste recycling.

Mr. S. Raghupathy, Deputy Director General, CII, said that CII through Indian Green Building Council has been able to achieve 3.9 billion sq feet of green building. Payback period of adoption of energy efficient technologies has come down to 4-5 years.

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ND Metal Industries to hold AGM
Sep 19,2016

ND Metal Industries announced that the th Annual General Meeting(AGM) of the company on 30 September 2016.

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