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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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RIL nudges higher after clarification on reports of penalty by oil ministry
Aug 18,2016

Meanwhile, the S&P BSE Sensex was up 158.93 points or 0.57% at 28,164.30.

On BSE, so far 2.67 lakh shares were traded in the counter as against average daily volume of 2.60 lakh shares in the past one quarter. The stock hit a high of Rs 1,023.15 and a low of Rs 1,015.35 so far during the day. The stock had hit a 52-week high of Rs 1,089.50 on 15 January 2016. The stock had hit a 52-week low of Rs 819 on 24 August 2015. The stock had underperformed the market over the past one month till 17 August 2016, advancing 0.14% compared with 0.61% rise in the Sensex. The scrip had also underperformed the market in past one quarter, gaining 4.51% as against Sensexs 8.66% rise.

The large-cap company has equity capital of Rs 3242.95 crore. Face value per share is Rs 10.

Reliance Industries (RIL) clarified during market hours today, 18 August 2016, that the issue is an ongoing dispute on disallowance of cost recovery by the Ministry of Petroleum and Natural Gas (MoPNG). The dispute started in 2011 and is currently under arbitration in accordance with provisions of the Production Sharing Contract (PSC). The parties to arbitration are Contractor Group (RIL, BP and NIKO) and Government of India (through MoPNG).

Every year, based on its own interpretations of the PSC and assumptions (with which the Contractor Group does not agree), MoPNG revises the total cost it proposes to disallow and consequently aggregates the figure with the figures of the previous years. It also demands additional profit petroleum (in total including previous year claims as well) as GoI share.

Upto financial year 2013-2014, the cost recovery proposed to be disallowed was $2.376 billion and consequent demand of Government of India (GoI) share of additional profit petroleum of $195.3 million on cumulative basis. On 3 June 2016, the company received a revised claim upto year 2014-2015 with a disallowance of $2.756 billion on cumulative basis and consequent demand of Gol share of additional profit petroleum of $246.90 million, also on cumulative basis. The number mentioned in the headline of the news item is a cumulative figure since commencement of the dispute.

RIL also clarified that GoI has already collected gross $81.7 million in Gas Pool Account, towards the aforesaid claim. RIL reiterated that all claims made by GoI are denied by the Contractor Group and currently part of an ongoing arbitration.

On consolidated basis, RILs net profit rose 18.1% to Rs 7113 crore on 15.2% decline in net sales to Rs 64990 crore in Q1 June 2016 over Q1 June 2015.

RIL is a diversified firm having presence in oil exploration, petrochemicals, retail and telecom sectors.

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Volumes jump at Welspun Corp counter
Aug 18,2016

Welspun Corp clocked volume of 34.33 lakh shares by 13:35 IST on BSE, a 62.2-times surge over two-week average daily volume of 55,000 shares. The stock rose 3.59% at Rs 86.50.

HDFC Bank notched up volume of 7.49 lakh shares, a 12.38-fold surge over two-week average daily volume of 60,000 shares. The stock was up 1.14% at Rs 1,248.25.

Max India saw volume of 10.52 lakh shares, a 11.05-fold surge over two-week average daily volume of 95,000 shares. The stock rose 2.84% at Rs 130.25.

Skipper clocked volume of 5.47 lakh shares, a 10.47-fold surge over two-week average daily volume of 52,000 shares. The stock rose 1.29% at Rs 157.

Jubilant Life Sciences saw volume of 17.64 lakh shares, a 5.68-fold rise over two-week average daily volume of 3.11 lakh shares. The stock surged 12.52% at Rs 493.10.

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Gartner Says Public Sector CIOs Can Lead a Citizen Services Revolution
Aug 18,2016

Public sector organizations could harness digital disruption in times of change to bring about a revolution in citizen services, said Gartner, Inc. These efforts are often hindered by top-down hierarchies, cultural legacies and the lack of a compelling vision. There are, however, successful examples that can be replicated.

Public sector organizations often have cultural and organizational mechanisms to buffer them from rapid swings in the political or economic landscape, said Elise Olding, research vice president at Gartner. While this provides stability, it also makes large-scale organizational change a difficult prospect.

Frequently, public sector CIOs who champion change are challenged by a risk-averse culture and a resource allocation that is restricted to discrete outputs rather than holistic outcomes. They also face short election and budget cycles that are out of phase with organizational needs. Public sector leaders n++ including CIOs n++ must create a culture that is less averse to change, unified in vision and direction, and that can manage change more effectively over longer time frames.

None of these challenges are insurmountable, said Ms. Olding. Based on our conversations with public sector CIOs who have seen success in their digital transformation, Gartner has identified three key recommendations.

1. Promote a Compelling Vision

In an ideal scenario, a CIO will receive clear direction on the strategic intent of the organization and the role IT will play in that. Too often, however, public sector organizations lack a clear business strategy to which the CIO can align IT investments. Yet, in either case, its vital the CIO formulates a vision of how technology investments will achieve a desired future state for the organization.

The best kind of vision should fit on a postcard, said Ms. Olding. It expresses in clear, nontechnical terms on one page what is wrong with the status quo, and outlines a set of activities and investments that will improve things.

A vision like this allows for engagement with executive leaders, so they can affirm, revise or reject and replace the strategic direction the CIO has outlined for the IT organization. If clear executive direction was lacking from the outset, this engagement may serve as a catalyst to improve the strategy outside the IT organization. If a clear direction was in place, the vision will still affirm and provide a template for ITs role in bringing it to reality.

2. Make Change Inclusive

Getting executive buy-in is just the first step; the vision is the cornerstone for action, said Ms. Olding. Its critical to communicate the vision to midlevel management and frontline workers in a way that demonstrates how their role fits into the vision, and how the completed vision will improve their role. A credible answer to the question, Whats in it for me? builds caring and belief.

Its also important that the vision shows how it builds on the good work of earlier efforts. This will not be the first vision seen by most employees. Many of them will have invested in one or more previous visions, only to see them swept away or discredited by a new round of leaders. They may be justifiably skeptical of a new picture. To win their support CIOs must avoid hyping their vision as a panacea, but rather present it as an iteration and expansion of previous achievements.

In addition to honoring the culture and legacy of an organization and how it contributes to the future vision, CIOs must cultivate change agents. These are employees who clearly understand the vision and its benefits, and champion it among their peers. CIOs can better harness the creativity and insights of the entire organization when they constantly invite, encourage and support employees at all levels who show desire to make the vision a reality.

3. Alter Leadership Practices

Embracing change will require changes for everyone, and that starts with leadership. Organizational cultures can foster myths that are comfortable yet counterproductive. Such myths are rooted in the language of thats how weve always done things, which reinforces a victim mentality and smothers innovation.

The CIOs who succeed in transforming the business actively confront ingrained behaviors, traditions and legacy processes, said Ms. Olding. They challenge leadership and are successful in instilling a clearly defined sense of urgency around their vision that gains the trust and support of the entire organization, from leadership to frontline workers.

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Board of Lakhotia Polyesters (India) appoints director
Aug 18,2016

Lakhotia Polyesters (India) announced that the Board of Directors of the Company at its meeting held on 17 August 2016 :

- Ashokkumar Gulabchand Khajanchi is appointed as Executive director as per resolution dated 17 August 2016.

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Gammon India wins Rs 869 crore road project from NHAI
Aug 18,2016

Gammon India has been awarded the following project by National Highways Authority of India:

- Sector : Transportation

- Type of Contract : Civil Engineering, Procurement and Construction (EPC)

- Project & Scope of Work : Four laning of Hospet - Bellary - Karnataka / AP Border from Km.280.080 (Design Ch.) to Km.375.450 (Design Ch.), design length 98.370, NH-63 in the State of Karnataka under NHDP Phase-IVB on EPC mode.

- Value : Rs. 869,99,99,993 (Rupees Eight Hundred Sixty Nine Crores Ninety Nine lakhs Ninety Nine Thousand Nine Hundred and Ninety Three).

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PGCIL moves higher on strong order visibility for FY 2017
Aug 18,2016

Meanwhile, the S&P BSE Sensex was up 145.27 points or 0.52% at 28,150.64.

On BSE, so far 5.27 lakh shares were traded in the counter as against average daily volume of 4.20 lakh shares in the past one quarter. The stock hit a high of Rs 180.45 and a low of Rs 176.75 so far during the day. The stock had hit a record high of Rs 183.05 on 16 August 2016. The stock had hit a 52-week low of Rs 120.75 on 10 September 2015. The stock had outperformed the market over the past one month till 17 August 2016, advancing 6.24% compared with 0.61% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 20.8% as against Sensexs 8.66% rise.

The large-cap company has equity capital of Rs 5231.59 crore. Face value per share is Rs 10.

Power Grid Corporation (PGCIL) in its post-result Q1 June 2016 investor presentation issued to the stock exchanges after market hours yesterday, 17 August 2016, said it had approved investment proposals worth about Rs 22874 crore in Q1 June 2016 of which contracts worth about Rs 11433 crore were awarded during the quarter. The company has ongoing projects worth about Rs 1.13 lakh crore as on July 2016. The company has new projects worth about Rs 15000 crore as on July 2016. Total works in hand stood at about Rs 1.44 lakh crore as on July 2016.

PGCIL has a planned capital outlay of Rs 22550 crore for the current financial year (FY 2017) of which it had spent Rs 5585 crore till June 2016.

PGCILs net profit rose 32.9% to Rs 1801.77 crore on 29.4% growth in net sales to Rs 6069.06 crore in Q1 June 2016 over Q1 June 2015. The company announced the results during market hours on 16 August 2016.

State-run Power Grid Corporation of India is an electric power transmission utility company. Government of India currently holds 57.9% stake in the firm (as per the shareholding pattern as on 30 June 2016).

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Power Grid moves higher after unveiling project implementation size
Aug 18,2016

Meanwhile, the S&P BSE Sensex was up 145.27 points or 0.52% at 28,150.64.

On BSE, so far 5.27 lakh shares were traded in the counter as against average daily volume of 4.20 lakh shares in the past one quarter. The stock hit a high of Rs 180.45 and a low of Rs 176.75 so far during the day. The stock had hit a record high of Rs 183.05 on 16 August 2016. The stock had hit a 52-week low of Rs 120.75 on 10 September 2015. The stock had outperformed the market over the past one month till 17 August 2016, advancing 6.24% compared with 0.61% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 20.8% as against Sensexs 8.66% rise.

The large-cap company has equity capital of Rs 5231.59 crore. Face value per share is Rs 10.

Power Grid Corporation (PGCIL) in its post-result Q1 June 2016 investor presentation issued to the stock exchanges after market hours yesterday, 17 August 2016, said it had approved investment proposals worth about Rs 22874 crore in Q1 June 2016. The company awarded contracts worth about Rs 11433 crore during the quarter. The company has ongoing projects worth about Rs 1.13 lakh crore as of July 2016. The company has identified new projects worth about Rs 15000 crore as of July 2016. Total works in hand stood at about Rs 1.44 lakh crore as of July 2016.

PGCIL has a planned capital expenditure of Rs 22550 crore for the current financial year (FY 2017) of which it had spent Rs 5585 crore till June 2016.

PGCILs net profit rose 32.9% to Rs 1801.77 crore on 29.4% growth in net sales to Rs 6069.06 crore in Q1 June 2016 over Q1 June 2015. The company announced the results during market hours on 16 August 2016.

State-run Power Grid Corporation of India is an electric power transmission utility company. Government of India currently holds 57.9% stake in the firm (as per the shareholding pattern as on 30 June 2016).

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Under-served SME sector needs timely delivery of bank credit and customised products & services, say bank and industry professionals
Aug 18,2016

The SMEs sector, the driver of growth, requires special handholding efforts by banks, needs timely delivery of credit and customised products and value added services through digital innovations.

This prescription was held out by eminent panellists to foster the growth of SMEs which are seen as drivers of growth.

Ms Usha Ananthasubramanian underlined the need for segmentation of different groups of customers as women and youth entrepreneurs were joining the ranks of borrowers and laid stress on creating products to cater to each segment. Timely delivery of credit, she said, was critical as SMEs were not averse to paying half a percentage more as interest. The sector needs handholding since the entrepreneurs lack financial acumen but are excellent technocrats. Measurement of customer satisfaction, she said, was done by banks on a quantitative basis and there was need to factor in intangible parameters for assessing satisfaction.

Mr. Rakesh Singh stressed the need to cut turnaround time for SMEs to allow them to churn their turnover speedily. He called for collaboration amongst different service providers to integrate technology for the benefit of the customers. He said the survey concept for measuring customer satisfaction was followed by foreign banks and some independent surveys go deeply into the quality of service by banks.

Mr. Rajat Verma said that the industry should remain aware of the fact that the lowest level of NPAs were in micro finance and the highest in financing large corporates. He said that with the transition to digital paperless transactions is a revolution in Indian banking and now all banks, Indian or foreign, enjoyed a level playing field.

Mr. Sanjay Bhatia said the MSME sector was constrained by high interest rates and paper-intensive lending process. He called for re-scheduling of repayments by this sector as current repayments were restricted to between three and five years without considering the status of the project. The MSME sector, he emphasised, needed to be nurtured as it was the single largest employer after agriculture.

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Gammon India spurts after new order win
Aug 18,2016

The announcement was made after market hours yesterday, 17 August 2016.

Meanwhile, the S&P BSE Sensex was up 144.33 points or 0.52% at 28,149.70

On BSE, so far 4.07 lakh shares were traded in the counter as against average daily volume of 2.20 lakh shares in the past one quarter. The stock hit a high of Rs 16.95 and low of Rs 15.80 so far during the day. The stock had hit a 52-week high of Rs 21.50 on 6 January 2016. The stock had hit a 52-week low of Rs 10.35 on 30 March 2016. The stock had underperformed the market over the past 30 days till 17 August 2016, falling 10.98% compared with 0.78% rise in the Sensex. The scrip, however, outperformed the market in past one quarter, surging 28.63% as against Sensexs 10.26% rise.

The small-cap company has equity capital of Rs 73.91 crore. Face value per share is Rs 2.

Gammon India bagged a highway project worth Rs 869.99 crore in Karnataka from National Highways Authority of India. It is engineering, procurement, construction (EPC) contract.

Gammon India reported net profit of Rs 53.38 crore in the quarter ended 31 March 2016 compared with net loss of Rs 73.53 crore in the quarter ended 31 March 2015. Total income rose 13.9% to Rs 1230.29 crore in the quarter ended 31 March 2016 over the quarter ended 31 March 2015.

Gammon India is one of the leading construction companies, diversified into infrastructure management, transmission lines and power sector

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Maruti moves north on reports of brokerage upgrade
Aug 18,2016

Meanwhile, the S&P BSE Sensex was up 131.66 points or 0.47% at 28,137.03.

On BSE, so far 15,000 shares were traded in the counter as against average daily volume of 78,463 shares in the past one quarter. The stock hit a high of Rs 4,948 and a low of Rs 4,910 so far during the day. The stock had hit a record high of Rs 5,037.90 on 2 August 2016. The stock had hit a 52-week low of Rs 3,202.10 on 29 February 2016. The stock had outperformed the market over the past one month till 17 August 2016, advancing 9.56% compared with 0.61% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 23.84% as against Sensexs 8.66% rise.

The large-cap company has equity capital of Rs 151.04 crore. Face value per share is Rs 5.

The brokerage reportedly said that Maruti Suzuki India (Maruti) is miles ahead of competition amongst peers. The brokerage sees early signs of improvement in pricing for Maruti. It further added that Maruti is well placed to gain market share and recovery in demand will result in pricing power.

Marutis net profit rose 23% to Rs 1486.20 crore on 12.1% rise in net sales to Rs 14654.50 crore in Q1 June 2016 over Q1 June 2015.

Maruti is Indias biggest car maker in terms of market share. Japanese parent Suzuki Motor Corporation currently holds 56.21% stake in Maruti (as per the shareholding pattern as on 30 June 2016).

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Indian Bank surges after bulk deal
Aug 18,2016

Meanwhile, the S&P BSE Sensex was up 145.60 points, or 0.52%, to 28,150.97

Bulk deal boosted volume on the scrip. On BSE, so far 17.31 lakh shares were traded in the counter, compared with an average daily volume of 2.11 lakh shares in the past one quarter. The stock hit a high of Rs 236.80 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 218.80 so far during the day. The stock hit a 52-week low of Rs 76 on 29 February 2016. The stock had outperformed the market over the past 30 days till 17 August 2016, rising 13.02% compared with 0.78% rise in the Sensex. The scrip also outperformed the market in past one quarter, surging 40.86% as against Sensexs 10.26% rise.

The large-cap state-run bank has equity capital of Rs 480.29 crore. Face value per share is Rs 10.

Indian Banks net profit rose 42.77% to Rs 307.36 crore on 0.41% rise in total income to Rs 4512.96 crore in Q1 June 2016 over Q1 June 2015.

Government of India currently holds 82.1% stake in Indian Bank (as on 30 June 2016).

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Gravity (India) announces resignation of Chairman and MD
Aug 18,2016

Gravity (India) announced that Rasiklal Dalpatram Thakkar, Chairman and Managing Director of the Company has stated his resignation from the Board of Directors of the Company with effect from 01 October 2016.

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Oil India announces appointment of nominee director
Aug 18,2016

Oil India announced that in terms of MOP&NG Letter dated 16 August 2016, Amar Nath, Joint Secretary (E), MOP&NG has been inducted into the Board as Nominee Director w.e.f. 16 August 2016 for a period of three years on co-terminus basis or until further orders, whichever is earlier.

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High Ground Enterprise announces resignation of director
Aug 18,2016

High Ground Enterprise announced that Ajit K. Sharma, Independent Director of the Company have resigned from the Board of the Company vide his resignation letter dated 17 August 2016.

Further, the Company has accepted the resignation of Ajit K. Sharma with immediate effect.

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Strong Q1 earnings boost Dalmia Bharat
Aug 18,2016

The result was announced after market hours yesterday, 17 August 2016.

Meanwhile, the S&P BSE Sensex was up 142.99 points or 0.51% at 28,148.36.

On BSE, so far 7,929 shares were traded in the counter as against average daily volume of 13,687 shares in the past one quarter. The stock hit a high of Rs 1,531 and a low of Rs 1,501 so far during the day. The stock had hit a record high of Rs 1,532 yesterday, 17 August 2016. The stock had hit a 52-week low of Rs 600 on 24 August 2015. The stock had outperformed the market over the past one month till 17 August 2016, advancing 20.35% compared with 0.61% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 62.15% as against Sensexs 8.66% rise.

The large-cap company has equity capital of Rs 17.76 crore. Face value per share is Rs 2.

The companys earnings before interest, taxation, depreciation and amortization (EBITDA) rose 28% to Rs 508 crore in Q1 June 2016 over Q1 June 2015. EBITDA margin improved significantly to 29% in Q1 June 2016 from 25% in Q1 June 2015.

With regard to future business outlook, Dalmia Bharat said it expects cement demand to gain momentum supported by good monsoon, implementation of 7th pay commission recommendations and focused thrust by government on infrastructure development & housing. Dalmia Bharat said it is well positioned to participate in the expected increase in cement demand with its existing and recently commissioned capacities. The company is confident of maintaining its market leadership through constant innovations.

Dalmia Bharat is the flagship company of the Dalmia Bharat Group. It is a pioneering and a leading player in the cement manufacturing space.

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