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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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Outcome of board meeting of Kaya
Sep 27,2016

Kaya announced that the Board of Directors at its meeting held on 26 September 2016 has given its consent to provide Bank guarantee of an amount not exceeding AED 15 million on behalf of Kaya Middle East FZE, a foreign step down subsidiary of the Company, to facilitate Kaya FZE to obtain a bank loan for the purpose of expansion, acquisition of new clients, capital expenditure and for meeting its working capital requirement. The said guarantee would be valid for three years from date of loan agreement between Kaya FZE and the Bank.

The Board of Directors of the Company at the same meeting has also consented to provide corporate guarantee on behalf of Kaya Middle East DMCC (Kaya DMCC), wholly owned subsidiary of the Company, for payment of AED 22,500,000 due under the Agreement signed on 08 September 2016 by Kaya DMCC for acquiring 75% beneficial interest in Minal Medical Centre, Dubai and Minal Specialised Clinic Dermatology, Sharjah. The said guarantee is valid for a period of one year from the date of approval of the board.

The said guarantees will be charged to the subsidiaries, at 1% of the respective guarantee amount, by the Company.

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Gartner Says Organizations Need to Master Two Dimensions of Mobility
Sep 27,2016

With the convergence of devices, bots, things and people, organizations will need to master two dimensions of mobility, according to Gartner, Inc. CIOs and IT leaders will need to excel at mainstream mobility and to prepare for the post-app era.

The future of mobile will provide ubiquitous services delivered anywhere, by any person or thing, to any person or thing, said David Willis vice president and distinguished analyst at Gartner. While users are constantly looking for new and compelling app experiences, the importance of apps in delivering services will diminish and the emergence of virtual personal assistants (VPAs) and bots will replace some of the functions performed by apps today. Alternative approaches to interaction and service delivery will arise, and code will move from traditional mobile devices and apps to the cloud, said Mr. Willis.

Mobile Becomes Business As Usual

The mobile landscape has changed dramatically during the past few years; mobile is no longer a novel technology, but business as usual, for most organizations, said Mr. Willis. In 2016, Gartner forecasts the shipment of 2.37 billion devices (PCs, tablets, ultramobiles and mobile phones), and that 293 million wearables will be sold in the same year. In 2017, Gartner estimates that 2.38 billion devices will be shipped and 342 million wearables will be sold.

The proliferation of mobile devices means that phones, tablets, laptops and wearables are now omnipresent within the business environment, reinventing the way people interact and work, said Mr. Willis.

Todays tech users are smart and savvy, demanding better features and experiences. The traditional forms of bring your own (that is, devices and applications) will continue to grow, making bring your own device and bring your own application the norm for the majority of organizations. Moreover, the arrival of wearables and bring your own thing (such as smart kettles, smart power sockets or smart light bulbs) in the workplace will introduce new interaction techniques and new platforms, diluting the need for specific mobile app experiences, said Mr. Willis.

Much of the innovation in the mobile space isnt taking place inside the smartphones themselves, but in the things that communicate with them. Gartner predicts that by 2018, 25 percent of new mobile apps will talk to Internet of Things (IoT) devices.

Most IoT devices that talk to smartphones do so via an app or the browser. Through 2018, the app will be the preferred mechanism, because it provides a better experience and allows more sophisticated interactions and data analysis, with low-level networking and background processing, said Mr. Willis.

However, the current dominance of apps is challenged by several trends that, together, Gartner labels the post-app era. As new technologies grow in importance as a way to control and interact with things, app interfaces will fade, added Mr. Willis.

Prepare for the Post-App Era Today

New ways to interact with things will deliver pervasive services, and emerging technologies n++ such as artificial intelligence, natural-language processing and bots integrated into messaging apps,open new opportunities to interact with users seamlessly.

A number of global players are enabling businesses and consumers to chat with users on their messaging platform evolving APIs and services so that developers can create their own bots. This concept allows users to chat with organizations to get information, answer questions and transact through messaging or VPAs.

This means that instead of going into a system and filling out complicated forms with checkboxes, users can ask a bot a question, and it will answer or negotiate on our behalf, based on rules and knowledge in the system, said Mr. Willis. It will then move to those systems that allow interactions with customers n++ from marketing to sales.

Apps are not going away and code isnt vanishing, added Mr. Willis. The post-app era means that there will be more data and code in the cloud and less on the device, thanks to the continuous improvement of cellular network performance.

The post-app era will be an evolving process through 2020 and beyond, concluded Mr. Willis. It has, however, already begun, and organizations should prepare for it by being agile and tactical, planning for new skills, assessing the new opportunities created by the post-app era, and developing a digital business strategy that integrates many different technologies.

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Outcome of board meeting of Choksi Laboratories
Sep 27,2016

Choksi Laboratories announced that the Board of Directors of the Company at its meeting held on 27 September 2016, have reviewed and discussed about all the performance of the branches of the Company.

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Jauss Polymers announces change in registered office
Sep 27,2016

Jauss Polymers announced that by the order of Regional Director the Company has changed their registered office form NCT Delhi to the state of Haryana.

The details of the new Registered Office are as under:-

Regd. Office Add:- Plot No-51, Roz Ka Meo Industrial Area, Sohna, Distt, Gurgaon 122103.

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Tech Mahindra unveils new strategy for Network Services business
Sep 27,2016

Tech Mahindra announced its latest Network Services Strategy which will enable communication service providers to transform and modernise their networks faster.

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Sybly Industries ties up with GEM Enviro Management
Sep 27,2016

Sybly Industries has tied up with GEM Enviro Management for marketing its polyester yarn made from recycled fiber under Companys brand SyGreen.

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Volumes jump at Narayana Hrudayalaya counter
Sep 27,2016

Narayana Hrudayalaya clocked volume of 13.25 lakh shares by 14: 55 IST on BSE, a 218.43-times surge over two-week average daily volume of 6,000 shares. The stock rose 4.07% to Rs 338.80.

Greaves Cotton notched up volume of 15.02 lakh shares, a 45.29-fold surge over two-week average daily volume of 33,000 shares. The stock shed 0.31% to Rs 127.50.

Thermax saw volume of 1.21 lakh shares, a 30.43-fold surge over two-week average daily volume of 4,000 shares. The stock rose 3.26% to Rs 876.45.

Goa Carbon clocked volume of 6.63 lakh shares, a 20.76-fold surge over two-week average daily volume of 32,000 shares. The stock jumped 20% to Rs 115.55.

Rain Industries saw volume of 14.14 lakh shares, a 20.70-fold rise over two-week average daily volume of 68,000 shares. The stock rose 10.93% to Rs 52.25.

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Tata Motors intimates of revision in credit rating of Jaguar Land Rover Automotive Plc
Sep 27,2016

Tata Motors announced that Moodys Investors Service Global Credit Research has upgraded the credit rating of Jaguar Land Rover Automotive Plc, subsidiary of the Company, by a positive notch.

Corporate Family Rating - Ba1 / Outlook remains Positive (Revised from Ba2)
Probability of Default Rating - Ba1-PD / Outlook remains Positive (Revised from Ba2-PD)
Senior Unsecured Instrument Rating - Ba1 / Outlook remains Positive (Revised from Ba2)

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NIIT gains after acquisition
Sep 27,2016

The announcement was made during trading hours today, 27 September 2016.

Meanwhile, the BSE Sensex was down 111.49 points, or 0.39%, to 28,182.79.

On BSE, so far 4.76 lakh shares were traded in the counter, compared with average daily volume of 3.72 lakh shares in the past one quarter. The stock hit a high of Rs 102.40 and a low of Rs 98 so far during the day. The stock hit a 52-week high of Rs 107.80 on 20 September 2016. The stock hit a 52-week low of Rs 67.55 on 12 February 2016. The stock had outperformed the market over the past 30 days till 26 September 2016, rising 3.39% compared with 1.84% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 18.53% as against Sensexs 6.67% rise.

The small-cap company has equity capital of Rs 33.13 crore. Face value per share is Rs 2.

NIIT said that the strategic acquisition will bring together complementary technology platforms and capabilities of NIIT and Perceptron Learning Solutions, enabling NIIT to further accelerate its Digital Transformation initiatives n++ StackRoute, digiNxt, and Training.com.

Ilimi which is Perceptrons next-gen learning platform combines leading edge developments in semantic computing, predictive analytics, learning science, and digital transformation technologies to create an environment for implementing learner-centric, immersive learning & mastery learning strategies.

Perceptrons acquisition builds on NIITs strategic focus for a leadership role in the Digital Learning world. Together with existing platforms, this will become an integral part of NIITs future multi-modal learning platform and 360 degree learning eco-system. Further, Perceptrons co-founders and engineering team will strengthen NIITs technology talent pool with their proven expertise.

On a consolidated basis, net profit of NIIT declined 50.67% to Rs 7.40 crore on 11.66% rise in net sales to Rs 260.40 crore in Q1 June 2016 over Q1 June 2015.

NIIT, a global leader in skills and talent development, offers multi-disciplinary learning management and training delivery solutions to corporations, institutions, and individuals in over 40 countries. NIIT has three main lines of business across the globe-corporate learning group, skills and careers group, and school learning group.

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Packaged food market reached $51 mn mark in 2015: Study
Sep 27,2016

Clocking a compounded annual growth rate (CAGR) of about 16 per cent, the packaged food market in India is expected to have crossed $51.5 million (mn) mark in 2015 as against $25 million in 2010, noted a recent ASSOCHAM-TechSci Research joint study.

n++In wake of the increasing disposable incomes and growing number of nuclear families, market share of packaged food in processed food market is expected to marginally increase to about 29 per cent in 2016 from about 28 per cent in 2015,n++ according to the study titled Dynamics involved in multi-layered food packaging, conducted by The Associated Chambers of Commerce and Industry of India (ASSOCHAM) jointly with TechSci Research.

Food and beverage packaging market in India was estimated at about $16 billion (bn) as of 2015 from about $12 bn in 2010 and registered a CAGR of over six per cent.

With a size of over $4 bn, the plastic food packaging market currently accounts for lions share of about 63 per cent in Indias total plastic packaging market which is currently valued at about $7 bn, highlighted the ASSOCHAM-TechSci Research study.

Market for multilayer plastic food packaging is currently estimated at about $1 bn which is about 22 per cent of Indias total plastic food packaging industry, however, in the total food and beverages packaging market, multilayer plastic food packaging accounts for over six per cent share in value terms.

n++Growing usage of packaging material in various food service outlets together with increasing demand for packaged beverage and expanding working class population has given impetus to food packaging industry in India,n++ said Mr D.S. Rawat, secretary general of ASSOCHAM while releasing the findings of the study.

In terms of share, metallic and other packaging material accounts for about half of Indias overall food and beverages packaging market followed by printed cartons and rigid packaging (28 per cent) and flexible packaging material like food packaging laminates and packaging foils (24 per cent), highlighted the ASSOCHAM-TechSci Research study.

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KNR Constructions provide project update
Sep 27,2016

KNR Constructions intimated that it has completed the rehabilitation and upgradation of existing NH-565 Penchalakona to Yerpedu section in the State of Andhra Pradesh under NHDP-IV 121 days ahead of the scheduled date of completion.

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MSR India provides business update
Sep 27,2016

MSR India has started the Phase-II online sales of DR.COPPER, through its website www.drcopper.in. The Company is expecting huge response for the sales and is hoping to generate decent revenue from these online sales.

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UCO Bank gets capital infusion from Central Government
Sep 27,2016

UCO Bank has received Rs. 775 crore (rounded off) from the Central Government towards preferential allotment of 18,69,72,255 equity shares of Rs. 10/- each at a price of Rs. 41.45 per share under Chapter VII of the SEBI (issue of Capital & Disclosure Requirements) Regulations 2009 (SEBI ICDR Regulations).

The amount has been deposited in the Share Application Money A/c pending receipt of regulatory approvals for appropriation towards allotment money. The Bank will endeavour to complete the allotment process according to the timeline prescribed under SEBI ICDR Regulations after receipt of all regulatory clearances.

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Robust Demand, Milestone Reform Sustain Indias Growth Momentum: ADB
Sep 27,2016

Indias economy will remain on a strong growth path this fiscal year (FY) and next, aided by implementation of key structural reforms, robust consumer demand, and higher agricultural output driven by a good Summer monsoon, says a new Asian Development Bank (ADB) study.

In an update of its flagship annual economic publication, Asian Development Outlook 2016, ADB forecasts FY2017 (year to March 2017) gross domestic product (GDP) growth of 7.4%, unchanged from its March projection. FY2018 growth is also seen unchanged at a faster clip of 7.8%.

With increasing investment over the coming year, India will remain the fastest growing major economy in the world, said Juzhong Zhuang, Deputy Chief Economist. Legislation to allow a national value-added tax is a milestone reform for India, while ongoing efforts to restructure bank balance sheets will help underpin faster growth moving forward.

Overall growth in the first quarter of FY2017 fell to 7.1% year-on-year as private consumption, investment, and construction moderated. Weak rains slowed agricultural output and credit growth remained subdued. At the same time, services grew by over 9% year-on-year, aided by a sharp rise in government spending, with government consumption posting its highest level of growth in almost 2 years.

Moving forward, the Update expects the economy to benefit from the flow through impacts of ongoing reforms, including the approval in August 2016 of legislation to allow the introduction of a long-awaited uniform goods and services tax. This landmark legislation is expected to boost GDP growth and revenue for the government. The effects of a healthier monsoon season, after 2 years of weak rains, will spur growth and government approval of a pay hike for public servants last August will continue to fuel buoyant consumption, which will remain a key growth driver. Construction, meanwhile, will benefit from the government announcement of measures to ease rules for quicker settlement of housing disputes, and to clear the way for fresh liquidity injections into stalled projects.

An uptick in demand from advanced economies, including oil producers supported by higher commodity prices, will boost exports, which after 2 years of contraction are seen expanding 4% in FY2017 and 7% in FY2018. A revival in public investment and some modest improvement in private investment will also underpin the economy in FY2018. Growth in foreign direct investment (FDI) inflows, though not as strong as in FY2016, will nevertheless remain at solid levels with the government liberalizing caps on FDI in some sectors and taking steps to improve the ease of doing business.

Inflation, meanwhile, is expected to average 5.4% in FY2017 with food prices benefiting from a stronger monsoon. Inflationary pressures, though, will move up in FY2018, with the rate seen at 5.8%, against a backdrop of higher global commodity prices and an expected rise in the prices of some services following the introduction of GST.

The updated assessment notes some risks of slippage in the governments target to reduce the fiscal deficit to 3.5% of GDP for FY2017 due to subdued non-tax revenue and higher current expenditure. However, measures to improve the targeting of subsidies and tax revenue growth should reduce the extent of slippage. A healthy external balance and strong capital inflows have helped the Indian rupee remain relatively stable against the US dollar in 2016.

ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, ADB in December 2016 will mark 50 years of development partnership in the region. It is owned by 67 members - 48 from the region. In 2015, ADB assistance totaled $27.2 billion, including cofinancing of $10.7 billion.

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Diamond Infosystems fixes record date for bonus issue & stock split
Sep 27,2016

Diamond Infosystems has fixed 05 October 2016 as the Record Date for the purpose of determining members who would be entitled to receive:

a) Two (2) fully paid bonus equity share of face value of Rs. 10 each for one (1) equity shares of face value of Rs. 10 each;

b) One (1) equity shares of face value of Rs. 10 each upon Sub-division of Ten (10) equity shares of face value of Rs. 1 each.

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