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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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Essel Propack plans to raise Rs 25 crore
Sep 15,2016

Essel Propack announced that the Company is raising funds through issue of Commercial Paper for Rs 25 crore on private placement basis on 20 September 2016.

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Gujarat Pipavav Port announces change in directorate
Sep 15,2016

Gujarat Pipavav Port announced that the Company has received intimation from A. K. Rakesh, IAS, the Nominee of Gujarat Maritime Board, the port regulatory authority, tendering his resignation from Directorship of the Company. It is in view of the change in his role and responsibilities in the Government of Gujarat.

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Direct Tax Dispute Resolution Scheme, 2016 which has come into force from 1st June, 2016, can be availed up to 31st December, 2016
Sep 15,2016

Litigation is a scourge for a tax friendly regime. In order to reduce the pending litigation, the Direct Tax Dispute Resolution Scheme, 2016 (the Scheme) has come into force from 1st June, 2016 and can be availed up to 31st December, 2016. The Scheme is available to the cases pending with the first appellate authority [i.e. CIT (A)] as on 29th February, 2016, subject to certain conditions. It also extends to the cases pending litigation owing to retrospective amendment at different levels.

Under the Scheme, if the amount of disputed tax is

n++ Up to Rs.10 lakh, complete waiver from levy of penalty and from initiation of prosecution is provided on payment of assessed tax along with the interest.

n++ More than Rs.10 lakh, the declarant is required to pay only 25% of the minimum penalty leviable along with the due tax and interest.

In respect of penalty appeals, the declarant shall get waiver of the 75% of the penalty levied and immunity from prosecution. In respect of specified tax, the declarant gets complete waiver of/immunity from levy of penalty and immunity from prosecution.

CBDT has received various queries from stakeholders seeking clarifications about various provisions of the Scheme. The issues raised have been examined and a set of 14 FAQs has been issued vide Circular No. 33 of 2016. The circular inter alia provides clarifications regarding eligibility of cases for the Scheme, fate of pending penalty appeals, determination of amount payable under the Scheme, right to appeal in other years, date of withdrawal of pending appeal and time limit for intimation of payment by the declarant and issuance of certificate by the designated authority.

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Gartner Says Worldwide Public Cloud Services Market to Grow 17 Percent in 2016
Sep 15,2016

The worldwide public cloud services market is projected to grow 17.2 percent in 2016 to total $208.6 billion, up from $178 billion in 2015, according to Gartner, Inc. The highest growth will come from cloud system infrastructure services (infrastructure as a service [IaaS]), which is projected to grow 42.8 percent in 2016. Cloud application services (software as a service [SaaS]), one of the largest segments in the global cloud services market, is expected to grow 21.7 percent in 2016 to reach $38.9 billion.

Growth of public cloud is supported by the fact that organizations are saving 14 percent of their budgets as an outcome of public cloud adoption, according to Gartners 2015 cloud adoption survey, said Sid Nag, research director at Gartner. However, the aspiration for using cloud services outpaces actual adoption. Theres no question there is great appetite within organizations to use cloud services, but there are still challenges for organizations as they make the move to the cloud. Even with the high rate of predicted growth, a large number of organizations still have no current plans to use cloud services.

IT modernization is currently the top driver of public cloud adoption, followed by cost savings, innovation, agility and other benefits. The focus on IT modernization indicates a more sophisticated and strategic use of public cloud services. Not only are public cloud services being used to recognize the tactical benefits of cost savings and innovation, but they are also being used to establish a more modern IT environment n++ an environment that can serve as a strategic foundation for future applications and digital business processes.

Security and/or privacy concerns continue to be the top inhibitors to public cloud adoption, despite the strong security track record and increased transparency of leading cloud providers.

Gartners position on cloud security has been clear n++ public cloud services offered by the leading cloud providers are secure. The real security challenge is using public cloud services in a secure manner, said Ed Anderson, research vice president at Gartner. More education is needed to help organizations overcome the hype associated with security concerns. This should be a key area of focus for providers in working with their clients to unlock the benefits of public cloud services.

Most organizations are already using a combination of cloud services from different cloud providers. While public cloud usage will continue to increase, the use of private cloud and hosted private cloud services is also expected to increase at least through 2017. The increased use of multiple public cloud providers, plus growth in various types of private cloud services, will create a multicloud environment in most enterprises and a need to coordinate cloud usage using hybrid scenarios.

Although hybrid cloud scenarios will dominate, there are many challenges that inhibit working hybrid cloud implementations. Organizations that are not planning to use hybrid cloud indicated a number of concerns, including: integration challenges, application incompatibilities, a lack of management tools, a lack of common APIs and a lack of vendor support.

Of course in the case of hybrid cloud, these top concerns also highlight some of the top opportunities for providers, said Mr. Anderson. We know that public cloud services will continue to grow. We also know that private cloud services (of various types) will become more widely used. Therefore, providers must focus on the top hybrid cloud challenges to be successful in meeting the growing demand for hybrid cloud solutions.

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Four stocks drop ex-dividend
Sep 15,2016

Meanwhile, the S&P BSE Sensex was up 31.88 points or 0.11% at 28,404.11.

Shares of Hero MotoCorp dropped 1.7% to Rs 3,528.50 after the stock turned ex-dividend today, 15 September 2016 for final dividend of Rs 32 per share for the year ended 31 March 2016. Before turning ex-dividend, the stock offered a dividend yield of 0.89% based on the closing price of Rs 3,589.50 yesterday, 14 September 2016.

Shares of Oil India shed 1.26% to Rs 391.95 after the stock turned ex-dividend today, 15 September 2016 for final dividend of Rs 8 per share for the year ended 31 March 2016. Before turning ex-dividend, the stock offered a dividend yield of 2.01% based on the closing price of Rs 396.95 yesterday, 14 September 2016.

Shares of Reliance Capital slipped 2.65% to Rs 563.50 after the stock turned ex-dividend today, 15 September 2016 for dividend of Rs 10 per share for the year ended 31 March 2016. Before turning ex-dividend, the stock offered a dividend yield of 1.72% based on the closing price of Rs 578.85 yesterday, 14 September 2016.

Shares of Reliance Infrastructure slipped 2.31% to Rs 583.40 after the stock turned ex-dividend today, 15 September 2016 for dividend of Rs 8.50 per share for the year ended 31 March 2016. Before turning ex-dividend, the stock offered a dividend yield of 1.42% based on the closing price of Rs 597.20 yesterday, 14 September 2016.

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Ashiana Housing declines after reverse turnaround in Q1
Sep 15,2016

The result was announced after market hours yesterday, 14 September 2016.

Meanwhile, the S&P BSE Sensex was up 46.41 points or 0.16% at 28,418.64.

On BSE, so far 4,371 shares were traded in the counter as against average daily volume of 4,598 shares in the past one quarter. The stock hit a high of Rs 162.90 and a low of Rs 153.30 so far during the day. The stock had hit a 52-week low of Rs 116.60 on 25 February 2016. The stock had hit a 52-week high of Rs 203.80 on 29 October 2015. The stock had underperformed the market over the past one month till 14 September 2016, sliding 1.09% compared with 0.78% rise in the Sensex. The scrip had also underperformed the market in past one quarter, advancing 4.97% as against Sensexs 7.49% rise.

The small-cap company has equity capital of Rs 20.47 crore. Face value per share is Rs 2.

Ashiana Housings net sales declined 13.8% to Rs 18.73 crore in Q1 June 2016 over Q1 June 2015.

Ashiana Housing is a real estate development company.

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Bengaluru image among Fortune 500 firms sullied by Cauvery related agitation; losses up to Rs 25,000 cr ASSOCHAM
Sep 15,2016

With widespread damage to the vital urban infrastructure, interruption in the transport including, roads, rail and air and inability of the workforce to safely move to and from offices and factories, Karnataka , particularly Bengaluru city, is estimated to have suffered a loss between Rs 22,000-25,000 crore due to Cauvery dispute related violence, apex industry body ASSOCHAM said.

n++Violence in the state capital and other parts of Karnataka has severely dented the image of Bengaluru as Silicon Valley of India, home to almost all the Fortune 500 companies,n++ said ASSOCHAM while making a fervent appeal for peace in both Karnataka and Tamil Nadu.

n++The way the violent incidents had spread is demoralizing the business and industrial community, particularly in the capital city of Karnataka. The image that India built around Bengaluru as its Silicon Valley is being sullied,n++ said ASSOCHAM secretary general, Mr D S Rawat.

n++The authorities in Karnataka and Tamil Nadu should not allow under any circumstances the law and order to be compromised. While the water is a basic requirement and an emotional issue, the situation is being exploited by miscreants, scaring away the peace loving workforce which has settled in both Bengaluru and Chennai from all over the country and even abroad,n++ said Mr Rawat.

According to ASSOCHAM, widespread loss would accrue to IT and ITES facilities due to poor attendance for the last several days. Besides, the inter-state tourism, particularly involving pilgrims, domestic travellers, has been affected. Cancellation of air tickets have also been reported to and from Bengaluru.

Likewise, industrial production, movement of cargo and retail trade including malls, cinema halls, restaurants, have been halted. n++All these losses would run between Rs 22,000 crore and Rs 25,000 crore, besides of course immense damage to the goodwill of the state as an attractive investment destination.n++

ASSOCHAM has also urged the Centre to effectively monitor the situation and ensure that peace is restored in the two states. n++A lot of damage has already been done to the trade and factory output with movement of the vehicles hit by the agitation which is taking violent shape. There is a huge stake for the countrys showpiece information technology in both Bengaluru and Chennai.n++

The strikes and bandhs should not be allowed to take violent shape and the law and order machinery should be geared up well in advance, with good amount of intelligence gathering, it said.

n++While we are selling ourselves to be the fastest growing economy of the world, we cannot afford the incidents which are taking place in the metropolitan cities. After all, the two states had built with a lot of hard work image of progressive areas, which should not be compromised at any cost.n++

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Prestige Estates Projects standalone net profit rises 20.78% in the June 2016 quarter
Sep 15,2016

Net profit of Prestige Estates Projects rose 20.78% to Rs 136.74 crore in the quarter ended June 2016 as against Rs 113.21 crore during the previous quarter ended June 2015. Sales declined 39.36% to Rs 565.17 crore in the quarter ended June 2016 as against Rs 932.01 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales565.17932.01 -39 OPM %26.0417.24 - PBDT134.13133.49 0 PBT122.02121.49 0 NP136.74113.21 21

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Sunteck Realty reports standalone net profit of Rs 71.76 crore in the June 2016 quarter
Sep 15,2016

Net profit of Sunteck Realty reported to Rs 71.76 crore in the quarter ended June 2016 as against net loss of Rs 0.81 crore during the previous quarter ended June 2015. Sales declined 67.47% to Rs 3.66 crore in the quarter ended June 2016 as against Rs 11.25 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales3.6611.25 -67 OPM %1701.91-76.44 - PBDT78.46-4.36 LP PBT78.29-4.54 LP NP71.76-0.81 LP

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Sunteck Realty consolidated net profit rises 765.04% in the June 2016 quarter
Sep 15,2016

Net profit of Sunteck Realty rose 765.04% to Rs 60.12 crore in the quarter ended June 2016 as against Rs 6.95 crore during the previous quarter ended June 2015. Sales rose 888.90% to Rs 524.51 crore in the quarter ended June 2016 as against Rs 53.04 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales524.5153.04 889 OPM %21.9334.54 - PBDT107.1516.35 555 PBT106.6615.86 573 NP60.126.95 765

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ABL Bio-Technologies reports standalone net loss of Rs 0.03 crore in the June 2016 quarter
Sep 15,2016

Net Loss of ABL Bio-Technologies reported to Rs 0.03 crore in the quarter ended June 2016 as against net loss of Rs 0.04 crore during the previous quarter ended June 2015. There were no Sales reported in the quarter ended June 2016 and during the previous quarter ended June 2015.

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Opto Circuits (India) reports standalone net profit of Rs 0.27 crore in the June 2016 quarter
Sep 15,2016

Net profit of Opto Circuits (India) reported to Rs 0.27 crore in the quarter ended June 2016 as against net loss of Rs 7.98 crore during the previous quarter ended June 2015. Sales declined 45.02% to Rs 14.07 crore in the quarter ended June 2016 as against Rs 25.59 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales14.0725.59 -45 OPM %33.6929.39 - PBDT2.55-5.36 LP PBT0.27-7.73 LP NP0.27-7.98 LP

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Advanced Micronic Devices reports standalone net loss of Rs 1.89 crore in the June 2016 quarter
Sep 15,2016

Net Loss of Advanced Micronic Devices reported to Rs 1.89 crore in the quarter ended June 2016 as against net loss of Rs 0.20 crore during the previous quarter ended June 2015. Sales rose 45.74% to Rs 1.88 crore in the quarter ended June 2016 as against Rs 1.29 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales1.881.29 46 OPM %-100.53-44.19 - PBDT-1.88-0.18 -944 PBT-1.89-0.20 -845 NP-1.89-0.20 -845

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Swarnsarita Gems consolidated net profit declines 8.70% in the June 2016 quarter
Sep 15,2016

Net profit of Swarnsarita Gems declined 8.70% to Rs 0.21 crore in the quarter ended June 2016 as against Rs 0.23 crore during the previous quarter ended June 2015. Sales rose 12.11% to Rs 64.72 crore in the quarter ended June 2016 as against Rs 57.73 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales64.7257.73 12 OPM %2.522.01 - PBDT0.550.50 10 PBT0.500.48 4 NP0.210.23 -9

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Alliance Integrated Metaliks reports standalone net loss of Rs 13.40 crore in the June 2016 quarter
Sep 15,2016

Net Loss of Alliance Integrated Metaliks reported to Rs 13.40 crore in the quarter ended June 2016 as against net loss of Rs 9.99 crore during the previous quarter ended June 2015. Sales declined 39.01% to Rs 28.89 crore in the quarter ended June 2016 as against Rs 47.37 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales28.8947.37 -39 OPM %9.035.38 - PBDT-7.93-8.92 11 PBT-14.65-14.45 -1 NP-13.40-9.99 -34

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