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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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Minda Industries gains after fixing record date for stock split
Aug 19,2016

The announcement was made after market hours yesterday, 18 August 2016.

Meanwhile, the S&P BSE Sensex was down 16.05 points or 0.06% at 28,107.39.

On BSE, so far 3,593 shares were traded in the counter as against average daily volume of 3,354 shares in the past one quarter. The stock hit a high of Rs 1,163.50 and a low of Rs 1,140 so far during the day. The stock had hit a record high of Rs 1,249 on 23 May 2016. The stock had hit a 52-week low of Rs 475 on 8 September 2015. The stock had underperformed the market over the past one month till 18 August 2016, sliding 2.75% compared with 1.36% rise in the Sensex. The scrip had also underperformed the market in past one quarter, advancing 2.8% as against Sensexs 9.41% rise.

The small-cap company has equity capital of Rs 15.87 crore. Face value per share is Rs 10.

On consolidated basis, Minda Industries net profit jumped 98.7% to Rs 27.14 crore on 43.7% growth in net sales to Rs 759.81 crore in Q1 June 2016 over Q1 June 2015.

Minda Industries is part of UNO Minda. UNO Minda is a technology leader in auto components industry and a leading Tier 1 supplier of proprietary automotive solutions to original equipment manufacturers (OEMs).

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Central Government decides to simplify the consent mechanism for OMBs
Aug 19,2016

In the spirit of Co-operative federalism and in order to bring-in the transparency and predictability in the Open Market Borrowings (OMBs) by the States, the Central Government has decided to simplify the consent mechanism for OMBs under Article 293 (3) of the Constitution.

Till now, the States were required to obtain quarterly consent from the Central Government for raising OMBs within the Net Borrowing Ceiling (NBC) fixed for each of the States as per the formula prescribed by the Fourteenth Finance Commission (FFC). The simplified mechanism would, however, allow the States to prepare their borrowing calendar for the first nine months and seek one-time consent for raising OMBs during the first nine months of the Financial Year. Thereafter, based on the assessment of details of borrowings and repayment thereof (actuals for first 3 quarters and estimates for last quarter), consent for the first two months of Fourth Quarter will be given. The consent for the last month i.e. March will be given based on the re-assessment of actual borrowings for the first 11 months by the States.

Thus, the simplified procedure will ensure that consent under Article 293(3) is issued only on three occasions during the year, one in the month of April for first nine months after fixation of borrowing ceilings, second in the month of December for the first two months of the fourth quarter and last in the month of March after the assessment of actual borrowings by the States.

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Oil E&P stocks advance as crude oil prices extend gains
Aug 19,2016

Meanwhile, the S&P BSE Sensex was down 25.02 points or 0.09% at 28,098.42.

Among shares of oil production and exploration firms, Cairn India (up 1.48% to Rs 205.30), Oil India (up 0.01% to Rs 374.55), and ONGC (up 0.21% to Rs 241.30) gained. Reliance Industries (RIL) declined 0.45% to Rs 1,012. Higher crude oil prices would result in increase in realizations from crude sales for oil exploration firms.

Among shares of state-run oil-marketing companies (PSU OMCs), BPCL (down 0.32% to Rs 585) and HPCL (down 0.48% to Rs 1,222.50) declined. Indian Oil Corporation (IOC) rose 0.04% to Rs 561.10. Higher crude oil prices could increase under-recoveries of PSU OMCs on domestic sale of LPG and kerosene at controlled prices. The government has already freed pricing of petrol and diesel. Weakness in rupee raises cost of oil imports.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 66.925, compared with its close of 66.81 during the previous trading session.

In the global commodities markets, the crude oil prices extended gains on expectations of revived talks by key exporters to freeze output levels. Brent for October settlement was currently up 22 cents at $51.11 a barrel. The contract had risen $1.04 a barrel or 2.08% to settle at $50.89 a barrel during the previous trading session.

The BSE Oil & Gas had outperformed the market over the past one month till 18 August 2016, advancing 7.5% compared with 1.36% rise in the Sensex. The index had also outperformed the market in past one quarter, surging 16.79% as against Sensexs 9.41% rise.

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Moderate gains for US stocks at Wall Street
Aug 19,2016

U.S. stocks ended almost on a flat note on Thursday, 18 August 2016. Indices logged a modest return in a trading session marked by relatively muted moves for the main benchmarks as investors pored over a batch of upbeat economic data and digested signs that the Federal Reserve remains divided about the timing of the next interest-rate hike. A rise in oil prices, which pushed West Texas Intermediate crude trading on the New York Mercantile Exchange , the U.S. benchmark, helped nudge energy stocks up.

The Dow Jones Industrial Average rose 23.76 points, or 0.1%, at 18,597.70. The S&P 500 index was up 4.80 points, or 0.2%, to close at 2,187.02. The tech-heavy Nasdaq Composite Index was up 11.49 points, or 0.2%, at 5,240.15. The S&P 500 index was up 4.80 points, or 0.2%, to close at 2,187.02.

Seven out of the S&P 500s 10 sectors finished in the green, with a decline in telecommunications, limiting the run-up in oil-and-gas stocks. Dow component Wal-Mart Stores was up 1.9%, giving the blue-chip gauge a lift, while a 1.2% slide in Caterpillar shares limited the benchmarks advance. Wal-Mart reported better-than-expected profit and revenues on Thursday.

Shares in Cisco Systems fell after the maker of networking equipment late Wednesday reported better-than-expected earnings and said that it plans to cut 5,500 jobs. Dow components Exxon Mobil and Chevron ended with gains of 0.9% and 1.3%, respectively.

Equity indices struggled for direction as investors continued to adjust rate hike expectations for the year. Yesterdays release of the FOMC minutes for July indicated that Fed officials were divided on whether or not an interest rate hike would be appropriate in coming months. Specifically, concerns about the sustainability of recent hiring trends and consistently weak inflation readings compelled some members to hold off on raising rates.

The stock market ended a range-bound day on a flat note as caution prevailed despite yesterdays dovish FOMC minutes from the July meeting. Equity indices struggled for direction as investors continued to adjust rate hike expectations for the year. Yesterdays release of the FOMC minutes for July indicated that Fed officials were divided on whether or not an interest rate hike would be appropriate in coming months. Specifically, concerns about the sustainability of recent hiring trends and consistently weak inflation readings compelled some members to hold off on raising rates. On Thursday, San Francisco Fed President John Williams said he would like to see another interest rate increase n++sooner rather than later.n++

Among other Fed speakers, New York Fed President William Dudley on Thursday was upbeat about the outlook for jobs and growth, adding that time for a rate increase n++is edging closer.n++ He spoke at a morning briefing for reporters at the regional Feds bank headquarters on Wall Street.

On the economic front, jobless claims last week fell by 4,000 to 262,000, representing a one-month low, and marking the 76th straight week that claims have been below 300,000. Meanwhile, the Federal Reserve Bank of Philadelphias barometer of regional manufacturing activity rebounded slightly into positive territory in August.

The Conference Board on Thursday said its index of leading economic indicators rose 0.4% in July, signaling that moderate but steady growth could continue for the remainder of 2016.

Oil futures stretched their streak of gains to a sixth session in a row Thursday to settle at their highest level in nearly two monthsn++lifting crude into a bull market. September West Texas Intermediate crude rose $1.43, or 3.1%, to settle at $48.22 a barrel on the New York Mercantile Exchange.

Data from the Energy Information Administration Wednesday showed weekly declines for both crude and gasoline inventories, prompting prices that day to settle higher for a fifth session.

Treasuries ended the day on a higher note as the short-end of the curve enjoyed a decent bid. The yield on the 2-yr note settled lower by two basis points (0.71%) while the yield on the benchmark 10-yr note slipped one basis point to 1.53%.

Todays participation was below the recent average as fewer than 737 million shares changed hands at the NYSE floor.

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Transort Corp declines after weak Q1 numbers
Aug 19,2016

The result was announced after market hours yesterday, 18 August 2016.

Meanwhile, the S&P BSE Sensex was down 25.19 points or 0.09% at 28,098.25.

On BSE, so far 11,000 shares were traded in the counter as against average daily volume of 25,784 shares in the past one quarter. The stock hit a high of Rs 365 and a low of Rs 351 so far during the day. The stock had hit a record high of Rs 388 on 2 August 2016. The stock had hit a 52-week low of Rs 207.10 on 12 February 2016. The stock had outperformed the market over the past one month till 18 August 2016, advancing 3.15% compared with 1.36% rise in the Sensex. The scrip had also outperformed the market in past one quarter, surging 29.46% as against Sensexs 9.41% rise.

The small-cap company has equity capital of Rs 15.32 crore. Face value per share is Rs 2.

Transport Corporation of India provides end to end integrated supply chain and logistics solutions.

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Transport Corp declines after weak Q1 numbers
Aug 19,2016

The result was announced after market hours yesterday, 18 August 2016.

Meanwhile, the S&P BSE Sensex was down 25.19 points or 0.09% at 28,098.25.

On BSE, so far 11,000 shares were traded in the counter as against average daily volume of 25,784 shares in the past one quarter. The stock hit a high of Rs 365 and a low of Rs 351 so far during the day. The stock had hit a record high of Rs 388 on 2 August 2016. The stock had hit a 52-week low of Rs 207.10 on 12 February 2016. The stock had outperformed the market over the past one month till 18 August 2016, advancing 3.15% compared with 1.36% rise in the Sensex. The scrip had also outperformed the market in past one quarter, surging 29.46% as against Sensexs 9.41% rise.

The small-cap company has equity capital of Rs 15.32 crore. Face value per share is Rs 2.

Transport Corporation of India provides end to end integrated supply chain and logistics solutions.

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Dilip Buildcon gains after winning road project
Aug 19,2016

The announcement was made at the fag end of the trading session yesterday, 18 August 2016. The stock rose 0.17% to settle at Rs 242 yesterday, 18 August 2016.

Meanwhile, the S&P BSE Sensex was down 1.05 points, or 0.01%, to 28,122.39.

On BSE, so far 1.04 lakh shares were traded in the counter, compared with an average daily volume of 4.36 lakh shares in the past one week. The stock hit a high of Rs 249.90 and low of Rs 245.55 so far during the day. The stock hit record high of Rs 258.80 on 12 August 2016. The stock hit a record low of Rs 226.55 on 17 August 2016.

Shares of Dilip Buildcon were listed on the stock exchanges on 11 August 2016.

The mid-cap company has equity capital of Rs 136.77 crore. Face value per share is Rs 10.

Dilip Buildcon (DBL) announced that National Highways Authority of India (NHAI) has declared the company as the selected bidder for four laning of the Lucknow-Sultanpur section of NH-56 in Uttar Pradesh under National Highways Development Project (NHDP) Phase-IV on hybrid annuity basis at a project cost of Rs 2016 crore and the first year operation and maintenance (O&M) cost of Rs 5 crore.

The company said that it will update in case of any further developments in relation to the project, including incorporation of a subsidiary for the project and entering into a concession agreement pursuant to the terms of the letter of award.

DBLs consolidated net profit rose 124% to Rs 196.60 crore on 56% growth in net sales to Rs 4315.40 crore in the year ended 31 March 2016 (FY 2016) over the year ended 31 March 2015 (FY 2015). As of 31 March 2016, the company had order book of Rs 10800 crore. Government contracts accounted for 76.27% of the order book as on 31 March 2016.

DBL is one of the leading road-focused engineering, procurement and construction (EPC) contractors in India.

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The Central Government decides to give Special Assistance of Rs.1,976.50 crore to Andhra Pradesh during 2016-17
Aug 19,2016

In order to fulfill its commitment to the people of Andhra Pradesh and to compensate the financial impact arising out of the bifurcation of Andhra Pradesh the Government of India has decided to provide further n++Special Assistancen++ of Rs.1,976.50 crore to the State during 2016-17. The amount includes Rs.1176.50 for Resource Gap, Rs.350 crore for the development of 7 backward districts covering Rayalaseema & North Coastal region and Rs.450 crore as assistance for the capital city. Thus, with the current sanction of funds, the Central Government has so far provided Central assistance of Rs.8379.50 crore to the State of Andhra Pradesh which includes Rs.4403 crore released during 2014-15 and Rs.2000 crore released during 2015-16 in terms of the provisions under the Andhra Pradesh Re-organisation Act, 2014.

The Andhra Pradesh Re-organisation Act, 2014 entrusts the Central Government to make appropriate grants in the form of special assistance to the backward areas of successor States, provide assistance for creation of new capital of Andhra Pradesh and to provide assistance to bridge the resource gap arising post-bifurcation.

Accordingly, cumulatively from the enactment of the Re-organisation Act i.e. 2nd June, 2014 till 2016-17, Rs. 3979.50 crore has been released to the successor State of Andhra Pradesh for bridging the resource gap for the financial year 2014-2015, Rs.1050 crore @ Rs. 50 crore per district has been provided for the development of 7 backward districts covering Rayalaseema & North Coastal region, Rs.2500 crore has been provided as assistance for the capital city which includes Rs. 1000 crore released by the Union Ministry of Urban Development (MoUD) for sewerage & drainage schemes at Guntur and Vijavada cities respectively and Rs.850 crore released upto 2015-16 for the Polvaram Irrigation Project among others.

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Board of State Bank of Travancore approves scheme of acquisition
Aug 19,2016

State Bank of Travancore announced that the Board of Directors of the Bank at its meeting held on 18 August 2016 have accorded approval to the scheme of acquisition of the State Bank of Travancore by State Bank of India, under Section 35 of the State Bank of India Act, subject to approval of scheme by Reserve Bank of India and the Government of India.

The Scheme provides for allotment of 22 equity shares of Re 1 each of State Bank of India for every 10 equity shares of Rs 10 each of State Bank of Travancore.

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Capital Trade Links to hold AGM
Aug 19,2016

Capital Trade Links announced that the Annual General Meeting (AGM) of the company will be held on 30 September 2016.

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Leena Consultancy to hold board meeting
Aug 19,2016

Leena Consultancy will hold a meeting of the Board of Directors of the Company on 26 August 2016, to consider and approve the Notice for conveying the Thirty Third Annual General Meeting of the shareholders of the Company.

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Voltamp Transformers to hold AGM
Aug 19,2016

Voltamp Transformers announced that the 49th Annual General Meeting (AGM) of the company will be held on 12 August 2016.

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Aditya Ispat to hold AGM
Aug 19,2016

Aditya Ispat announced that the 25th Annual General Meeting (AGM) of the company will be held on 30 September 2016.

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Innoventive Industries to hold AGM
Aug 19,2016

Innoventive Industries announced that the 25th Annual General Meeting (AGM) of the company will be held on 26 September 2016.

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Aadi Industries to hold AGM
Aug 19,2016

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

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