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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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Shares of Rachana Capital & Securities get listed
Sep 23,2016

The equity shares of Rachana Capital & Securities (Scrip Code: 540108) are listed effective 23 September 2016 and admitted to dealings on the Exchange in the list of XT Group Securities

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Government targets doubling food processing levels to 20%
Sep 23,2016

The Government has set a target of doubling food processing levels in the country to 20% by 2019. Union Minister for Food Processing, Ms. Harsimrat Kaur Badal, who was in Mumbai today, to inaugurate the Annapoorna : World of Food 2016 International Expo & Conference, said the n++food processing industry is a sunrise sector ready for exponential growthn++. She said despite all odds, the food processing sector has been able to register a 7.6 per cent growth, much higher than the agricultural and manufacturing sector growth.

The Minister however lamented that despite India being one of the largest food producing countries, the level of processing is a paltry 10%, while it is 70-80% in some of the South East Asian countries like Thailand, Malaysia and Vietnam. n++We have drawn up plans to double the level of processing from 10% to 20% by the time the 5 year term of the government is overn++, she said.

Ms. Badal said her ministry is facilitating ease of doing business and creating investor friendly policies and schemes to give a boost to the sector. She said the governments decision to permit 100 per cent FDI in trading, including through e-commerce, in respect of food products manufactured or produced in India is expected to provide a major impetus to investments, employment and job creation in the food processing sector.

The Minister also informed that a Rs 2,000 crore corpus has been created to disperse cheap credit through NABARD for the food processing sector and several tax and duty concessions are being extended to food processing industries in 42 Mega Food Parks planned across the country.

Ms. Badal said that her recent trip to the UK has been successful and lot of international retail and food processing companies have evinced interest to enter India through joint venture with Indian companies.

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L&T Technology Services in focus on debut
Sep 23,2016

Shares of L&T Technology Services will debut on bourses today, 23 September 2016. The initial public offer (IPO) of L&T Technology Services received bids for 1.83 crore shares, as per the data on the National Stock Exchange of India (NSE) website. The IPO was subscribed 2.53 times. The initial public offer (IPO) of L&T Technology Services had opened for bidding on 12 September 2016 and closed on 15 September 2016. The company has issued shares at Rs 860 per share, the top end of the Rs 850 to Rs 860 per share price band for the IPO. The qualified institutional buyers (QIBs) category was subscribed 5.01 times. The non-institutional investors category was subscribed 1.03 times. The retail individual investors (RIIs) category was subscribed 1.75 times.

Bharat Heavy Electricals (Bhel)s chairman & managing director, Atul Sobti, said that in spite of financial year ended March 2016 (FY 2016) being an extremely challenging year, the company recorded the highest-ever commissioning of projects in its history and the highest order booking in the last five years in FY 2016, ending the year with significant traction in growth drivers.

Addressing shareholders at the 52nd annual general meeting of the company, Mr. Sobti said that enhanced focus on project execution has resulted in Bhel creating history by way of commissioning/synchronizing an all-time high 15,059 megawatts (MW) of power generating equipment during the year. Despite intense competitive pressure in the power and capital goods markets during the year, Bhel achieved the highest order booking in the last five years, at Rs 43727 crore, a 42% leap over 2014-2015. The company ended the year with a total order book of Rs 110730 crore for execution in 2016-2017 and beyond. The announcement was made after market hours yesterday, 22 September 2016.

Shriram Transport Finance Company said that a committee of the company allotted 1,300 secured redeemable non-convertible debentures (NCDs) of face value of Rs 10 lakh each, aggregating to Rs 130 crore on private placement basis. The NCDs have a tenure of three years from the date of allotment. The NCDs carry a coupon rate of 8.25 per annum. The announcement was made after market hours yesterday, 22 September 2016.

Majesco announced that it has entered into an agreement with Glemham, a UK based managing general agent (MGA), to create a new cloud based bureau processing business using Majesco CloudInsurer to reduce the cost of transacting General Insurance in the UK market. Majesco CloudInsurer platform will be used to initially provide commercial lines insurance to both the broker and the small medium enterprise (SME) markets. The announcement was made after market hours yesterday, 22 September 2016.

Gallantt Ispat said that a meeting of the board of directors of the company will be held on 29 September 2016, to consider and approve the disposal of two subsidiaries - Shree Surabhi Wheat Products and Shree Surabhi Flour Mills. The announcement was made after market hours yesterday, 22 September 2016.

Speciality Restaurants said it has opened new Sigree franchise restaurant at Nagpur. The announcement was made after market hours yesterday, 22 September 2016.

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Unichem Laboratories allots equity shares
Sep 22,2016

Unichem Laboratories announced that Directors through Circular Resolution dated 30 August 2016 allotted and issued 1,000 equity shares of Rs. 2/- each pursuant to exercise of the stock option by an eligible employee under the Employee Stock Option Scheme 2008 of the Company.

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Pitti Laminations announces cessation of ED
Sep 22,2016

Pitti Laminations announced Y B Sahgal, Executive Director, aged 62 years has expressed his intention to retire from the Company and submitted his resignation as Director of the Company with effect from 30 September 2016.

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PTC India Financial Services announces appointment of nominee director
Sep 22,2016

PTC India Financial Services announced that the Board of Directors of the Company has appointed Arun Kumar as the Nominee Director (Additional) of the Company on the Board of the Company w.e.f. 20 September 2016.

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Larsen & Toubro provides update on proposed IPO of L&T Technology Services
Sep 22,2016

Larsen & Toubro announced that the Prospectus filed by L&T Technology Services with the Registrar of Companies, Maharashtra at Mumbai, has been approved on 19 September 2016. The Offer comprises of an offer for sale of 1,04,00,000 Equity Shares by the Company aggregating to Rs. 894.4 crore at the offer price of Rs. 860 per Equity Share.

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Hinduja Global Solutions appoints directors
Sep 22,2016

Hinduja Global Solutions announced the following appointments:

1. Appointment of Yashodhan Madhusudan Kale as a Non-Executive Director of the Company, liable to retire by rotation.

2. Appointment of Pradeep Mukerjee as an Independent Director of the Company for a consecutive period of five years from 21 September 2016 to 20 September 2021 (both days inclusive) and not liable to retire by rotation.

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MPF Systems announces resignation of directors
Sep 22,2016

MPF Systems announced that the board accepted the resignation of Shailendra Kumar Patni and Bijay Kumar Dokania from directorship with effect from 03 September 2016.

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Websol Energy System gets RBI approval for restructuring of FCCBs
Sep 22,2016

Websol Energy System announced that the Company had applied to RBI for Restructuring of outstanding FCCBs. The same has been approved by RBI subject to certain conditions.

The Restructuring is as per the terms approved by the shareholders of the Company in the EGM held on May 26, 2016.

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Krishna Capital & Securities pares stake in Palco Metals
Sep 22,2016

Krishna Capital & Securities announced that the Company has divested Rs.50 lakh in Palco Metals. As a result of divestment, the Company has decreased its Shareholding in Palco Metals from 22.28% to 19.42% making it a non-Associate Company

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Choice International announces resignation of director
Sep 22,2016

Choice International announced that the Company has received intimation from Brijmohan Pooranmal Agarwal the Non -Executive Independent Director of the Company with respect to his resignation from the Board of the Company with effect from 21 September 2016 due to his Pre Occupation.

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Board of Unishire Urban Infra does not recommend dividend for FY16
Sep 22,2016

Unishire Urban Infra announced that the Board of Directors of the Company at its meeting held on 30 May 2016, has not recommended any dividend for the year ended 31 March 2016.

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Record Production of Kharif Foodgrains estimated at 135.03 Million Tonnes
Sep 22,2016

Union Agriculture and Farmers Welfare Minister, Shri Radha Mohan Singh today released the 1st Advance Estimates of production of major Kharif crops for 2016-17. On the occasion Shri Singh said that as per 1st Advance Estimates for 2016-17, total production of Kharif Foodgrains is estimated at 135.03 million tonnes which is a new record. This year production is higher by 11.02 million tonnes as compared to last years Kharif foodgrains production of 124.01 million tonnes. Further, Kharif foodgrains production is also higher by 7.65 million tonnes than the last five years (2010-11 to 2014-15) average production of 127.38 million tonnes.

As per 1st Advance Estimates, the estimated production of major crops during Kharif 2016-17 is as under:

n++ Foodgrains - 135.03 million tonnes (record)

n++ Rice - 93.88 million tonnes (record)

n++ Coarse Cereals - 32.45 million tonnes

n++ Maize - 19.30 million tonnes (record)

n++ Pulses - 8.70 million tonnes (record)

n++ Tur - 4.29 million tonnes (record)

n++ Urad - 2.01 million tonnes (record)

n++ Oilseeds - 23.36 million tonnes

n++ Soyabean - 14.22 million tonnes

n++ Groundnut - 6.50 million tonnes

n++ Castorseed - 1.73 million tonnes

n++ Cotton - 32.12 million bales (of 170 kg each)

n++ Sugarcane - 305.25 million tonnes

The cumulative rainfall (1 June to 07 September, 2016) during the current monsoon season has been excess / normal in 29 and deficient in 07 out of 36 meteorological sub-divisions. As a result of favourable monsoon rainfall, area and yield of most of the Kharif crops is expected to be higher. Consequently, estimated production of most of the crops during current Kharif season is estimated to be higher as compared to their production as per 4th Advance Estimates for 2015-16. However, these are preliminary estimates and would undergo revision based on further feedback to be received from the States.

Total production of Kharif rice is estimated at 93.88 million tonnes which is a new record. This year rice production is higher by 1.1 million tonnes than previous record production of 92.78 million tonnes achieved during 2011-12. Production of Kharif rice is also higher by 4.16 million tonnes and 2.57 million tonnes over the average production of the last five years and the last years Kharif rice production respectively.

Total production of coarse cereals in the country is estimated at 32.45 million tonnes as compared to 27.17 million tonnes during 2015-16 (4th Advance Estimates). Production of Maize is estimated at record level of 19.30 million tonnes. This year production of Kharif maize is higher by 4.05 million tonnes than that the last years production.

As a result of significant increase in the area coverage and productivity of tur and urad, total production of Kharif pulses estimated at record level of 8.70 million tonnes which is higher by 3.16 million tonnes than the last years production of 5.54 million tonnes. The production of kharif pulses is also higher by 2.54 million tonnes than their last five years average production.

Total production of kharif oilseeds in the country is estimated at 23.36 million tonnes which is significantly higher than the production of 16.59 million tonnes during 2015-16. This year production of Kharif oilseed is also higher by 2.33 million tonnes than the average production of last five years.

Production of Sugarcane is estimated at 305.25 million tonnes which is lower by 46.92 million tonnes than the last years production of 352.16 million tonnes. Despite lower area coverage, higher productivity of Cotton has resulted in to higher production of 32.12 million bales (of 170 kg each) as compared to 30.15 million bales during 2015-16. Production of Jute & Mesta estimated at 10.41 million bales (of 180 kg each) is marginally lower than their production of 10.47 million bales during the last year.

The assessment of production of different crops is based on the feedback received from States and validated with information available from other sources.

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Board of Trimurthi approves investment in subsidiary
Sep 22,2016

Trimurthi announced that the Board of Directors of the Company in its meeting held on 22 September2016 have considered and approved investment in its subsidiary Trimurthi Foods. The holding company (Trimurthi) has 84.24 % shares of Trimurthi Foods and by purchasing remaining shares of the Company; Trimurthi Foods will be a Wholly Owned Subsidiary of Trimurthi.

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