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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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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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Environment Minister Dedicates Facilities to People under Sansad Adarsh Gram Yojana in Madhya Pradesh
Aug 18,2016

The Minister of State (Independent Charge) of Environment, Forest and Climate Change, Shri Anil Madhav Dave, dedicated a number of facilities the people of Jahanpur Gram Panchayat in district Sihor in Madhya Pradesh under Sansad Adarsh Gram Yojana. The village houses about 100 families.

The Minister dedicated a night shelter, particularly for the benefit of people performing a circumambulation (Parikarama) of River Narmada. A toilet has also been constructed to prevent people from defecating in the open.

Shri Dave also inaugurated a water filter plant, with an objective to provide 20-25 litres water per day per family. An auditorium, with a view to encourage people to organize cultural activities and a Panchayat Bhawan, have also been dedicated to the people. The Environment Minister also planted a sapling on the occasion. He distributed school uniforms to children of the village and held discussions with women members of NGOs.

Shri Dave also held a review meeting with officers of the concerned departments to review the various works being undertaken.

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Mahindra & Mahindra intimates of incorporation of subsidiary in Mexico
Aug 18,2016

Mahindra & Mahindra announced that its subsidiary, Mahindra USA Inc. has incorporated a subsidiary Mahindra Mexico S. de. R. L. in Mexico, on 08 August 2016.

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Differential duty structure a big challenge for toy industry: ASSOCHAM
Aug 18,2016

Due to Inverted Duty Structure, Indias Toy Industry which is dominated by the micro, small and medium enterprises (MSMEs), is struggling hard for their survival due to heavy imports duty, reveals ASSOCHAM latest statement.

The paper on Indian toy industry brought out by ASSOCHAM has stated that though the toys, games, sports equipments, parts & accessories are classified under HSN Chapter Heading 95, many of the raw materials used in the manufacture of these toys fall under different Chapters and are levied different rates of Import Duty, thereby, the input cost of toy manufacturing in India is way high compared to imported toys.

The chamber further states that almost all parts used in toys are specifically classified in classification other than toys parts, so each toy part must fall under its specific classification such as, a toy motor must fall under the classification of motors are not toy parts; same is true for screws etc. The duty on such parts can be 0,5,7,5 and 10 percent + CVD. Also the Customs duties on toys may vary from 0 to 10% with exceptions.

There is an anomaly n++importing of toy attracts 5% duty, whereas importing raw materials for domestic manufacturing attracts 20-30% duty, making domestic production costlier,n++ said Mr. Sunil Kanoria, President ASSOCHAM.

It may be interesting to note that for a zero duty on parts, the effective rate of duty on such a part is more than twice that of a finished toy, said Mr. Kanoria.

Due to non-availability of many quality raw materials in the country, manufacturers have to import them to maintain quality of the finished product. It may be seen that in all these cases, the effective difference for manufacturing toys in India using these raw materials are very high and this has a negative impact on the growth of Indian toy manufacturing sector. Rather than earning foreign exchange through exports, the country is losing so much through imports. Unless immediate corrective measures are taken, Tiny & Small manufacturers cannot survive.

The Indian toy industry caters to nearly four crore kids in the age group of 12 years across the country but domestically manufactured toys account for a meagre 15 per cent of the market and the rest of the market is flooded with imported toys from countries like China, the United States (US), the UK, Korea and Malaysia among others.

The toy industry in India is highly fragmented, unorganised and is predominantly dominated by micro, small and medium scale manufacturers. Besides, there are nearly 2,000 units in the organised sector. The toy industry employs nearly 25 lakh people both in the organised and unorganised sector. Nearly 70 per cent of toy market in India is unorganised.

Emergence of video games has dented the toy business across the world as there is an evident shift from traditional toys and games to video games. As a result, international toy manufacturers have also expanded their operations in the video game segment.

ASSOCHAM suggests the government should undertake some training programmes and set up training centres for these workers to train them so that they are able to increase their efficiency and productivity. Marketing tie-ups for the toy industry both at the state as well as the national levels are suggested by ASSOCHAM.

The government should provide easy credit facilities to the toy industry and marketing assistance like bar coding and ISO certification to the Indian toys. ASSOCHAM suggests that the government should create ways and means by which talented toymakers, innovating educationists and committed designers team up to salvage the sector of our design heritage.

There should be cluster based development programmes for the toy industry as it is highly fragmented and unorganized. Special assistance, grants and financial support by the government is suggested by ASSOCHAM to enhance the industrys technological, research and developmental facilities to match with its international counterparts.

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Phillips Carbon advances after strong Q1 result
Aug 18,2016

The Q1 result was announced after market hours yesterday, 17 August 2016.

Meanwhile, the S&P BSE Sensex was up 183.55 points, or 0.66%, to 28,188.92

On BSE, so far 1.26 lakh shares were traded in the counter as against an average daily volume of 89,612 shares in the past one quarter. The stock hit a high of Rs 216 and a low of Rs 208.80 so far during the day. The stock had hit a 52-week high of Rs 218.80 on 1 August 2016. The stock hit a 52-week low of Rs 80.10 on 29 February 2016. The stock had outperformed the market over the past 30 days till 17 August 2016, rising 13.29% compared with 0.78% rise in the Sensex. The scrip, however, outperformed the market in past one quarter, surging 70.73% as against Sensexs 10.26% rise.

The small-cap company has an equity capital of Rs 34.47 crore. Face value per share is Rs 10.

Phillips Carbon Black is a leading producer of carbon black in the country.

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Bharti Airtel gains on reports SingTel intends to raise stake in Bharti Telecom
Aug 18,2016

Meanwhile, the S&P BSE Sensex was up 181.06 points or 0.65% at 28,186.43.

On BSE, so far 57,000 shares were traded in the counter as against average daily volume of 3.48 lakh shares in the past one quarter. The stock hit a high of Rs 350.75 and a low of Rs 346.50 so far during the day. The stock had hit a 52-week high of Rs 398 on 17 August 2015. The stock had hit a 52-week low of Rs 282.30 on 29 January 2016. The stock had underperformed the market over the past one month till 17 August 2016, sliding 8.78% compared with 0.61% rise in the Sensex. The scrip had also underperformed the market in past one quarter, declining 1.78% as against Sensexs 8.66% rise.

The large-cap company has equity capital of Rs 1998.70 crore. Face value per share is Rs 5.

According to reports, Singapore Telecommunications (SingTel) intends to acquire a stake in Thailands Intouch Holdings and boost its holding in Bharti Telecom, a holding company of Bharti Airtel, to take advantage of faster growth in emerging markets. SingTel plans to acquire a 21% stake in Intouch for 1.58 billion Singapore dollar and an additional 7.39% stake in Bharti Telecom for 884 million Singapore dollar, through wholly-owned subsidiaries, reports suggested. SingTel already owns a 39.78% stake in Bharti Telecom, as per reports.

Bharti Telecom held 45.09% stake in Bharti Airtel as per the shareholding pattern as on 30 June 2016.

On a consolidated basis, Bharti Airtels net profit declined 30.8% to Rs 1462 crore on 7.9% growth in net sales to Rs 25546.50 crore in Q1 June 2016 over Q1 June 2015.

Bharti Airtel ranks amongst the top three mobile service providers globally in terms of subscribers. The company has its operations in 20 countries across Asia and Africa.

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Minor gains at Wall Street
Aug 18,2016

U.S. stocks closed slightly higher on Wednesday, 17 AUgust 2016 after sharply paring earlier losses as minutes from the Federal Reserves July meeting showed policy makers remained divided on prospects for a near-term rate increase. Stocks bounced off session lows after St. Louis Fed President James Bullard said that with U.S. growth trending below 2%, interest rates can stay low.

The Dow Jones Industrial Average rose 21.92 points, or 0.1%, to close at 18,573.94, after being down as many as 83 points earlier in session. The Nasdaq Composite Index finished up 1.55 points at 5,228.66, after being down about 30 points earlier. The S&P 500 index rose 4.07 points, or 0.2%, to close at 2,182.22 overcoming an earlier 10-point deficit.

Seven out of 10 sectors closed higher, led by gains in utilities and financial stocks. Tech, consumer-discretionary, and materials stocks closed lower.

Meanwhile, Cisco Systems shares dragged on the average, down 1.5%. Shares of 3M and Pfizer led gains.

Stocks ended the midweek affair on a flat note as market participants walked back recently-adjusted rate hike expectations for the year. The change in thinking followed some dovish remarks from St. Louis Fed President Bullard (an FOMC voter) and less hawkish-than-feared minutes from the FOMCs July meeting. Later, following a small pullback following the release of the Fed minutes, stocks had fluctuated between slight gains and losses after the minutes revealed that Fed officials were largely unchanged in their debate over interest rate hikes.The Fed minutes for July also helped to brush away lingering rate hike angst. The minutes indicated that the Federal Open Market Committee was split on whether or not an interest rate hike would be appropriate in the coming months. The committee agreed that economic data and labor markets had improved, but the sustainability of hiring and inflation continuing to run below the two percent objective worried some members. Several members said they preferred to defer another increase in the fed funds rate until they were more confident that inflation was moving closer to two percent on a sustained basis.

The market shifted gears shortly after midday as reports indicated that German Chancellor Merkel signaled that there would be some scope for tax cuts in the Germanys next legislative session. That headline seemed to stoke some risk appetite as investors eyed potential fiscal stimulus measures, which have been lacking in the midst of very aggressive monetary policy accommodations.

With no significant changes in economic activity, some risks from the U.K.s vote to leave the European Union, and low inflation, the Fed is still very much divided over the subject of raising interest rates while leaving the door open for a possible rate hike this year.

Wednesdays stock moves come after the three main benchmarks closed lower on Tuesday, amid warnings that an interest-rate rise could come as soon as September, which helped drag stocks off their all-time highs. Todays economic data included the weekly MBA Mortgage Index: The MBA Mortgage Index showed that mortgage applications fell 4.0% in the week ending August 13 after a 7.1% increase in the prior week.

The dollar rose after those remarks and climbed early Wednesday, but shifted lower after the Fed minutes. The ICE U.S. Dollar Index was down fractionally at 94.78.

Oil prices settled 0.5% higher at $46.79 a barrel after the Fed minutes even as hopes for a production-freeze agreement started to fade.

Gold futures slipped from their two-week high, settling 0.6% lower at $1,348.80 an ounce.

Treasuries ended the day on a higher note, enjoying a decent bid across the complex. The yield on the 10-yr note slipped two basis points to 1.55%.

Todays participation was below the recent average as fewer than 766 million shares changed hands at the NYSE floor.

Tomorrows economic data will include weekly initial claims (consensus 265k) and the Philadelphia Fed Survey for August (consensus 0.5), which will each be released at 8:30 a.m. ET. The Leading Indicators report for July (consensus 0.4%) will conclude the days data, crossing the wires at 10:00 a.m. ET.

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Nava Bharat Ventures to hold board meeting
Aug 18,2016

Nava Bharat Ventures will hold a meeting of the Board of Directors of the Company on 24 August 2016.

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Triveni Engineering and Industries to hold board meeting
Aug 18,2016

Triveni Engineering and Industries will hold a meeting of the Board of Directors of the Company on 26 August 2016.

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JBF Industries to hold board meeting
Aug 18,2016

JBF Industries will hold a meeting of the Board of Directors of the Company on 26 August 2016.

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Golkonda Aluminium Extrusions to hold board meeting
Aug 18,2016

Golkonda Aluminium Extrusions will hold a meeting of the Board of Directors of the Company on 19 August 2016.

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Fortune International to hold board meeting
Aug 18,2016

Fortune International will hold a meeting of the Board of Directors of the Company on 12 August 2016.

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M&M gains after announcing incorporation of a subsidiary company in Mexico
Aug 18,2016

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

Meanwhile, the S&P BSE Sensex was up 122.65 points or 0.44% at 28,128.02

On BSE, so far 6,639 shares were traded in the counter as against average daily volume of 1.03 lakh shares in the past one quarter. The stock hit high of Rs 1,463.90 and low of Rs 1,449.85 so far during the day. The stock had hit a record high of Rs 1,508.80 on 9 August 2016. The stock had hit a 52-week low of Rs 1,092 on 12 February 2016. The stock had underperformed the market over the past 30 days till 17 August 2016, falling 0.34% compared with 0.78% rise in the Sensex. The scrip, however, outperformed the market in past one quarter, rising 10.73% as against Sensexs 10.26% rise.

The large-cap company has an equity capital of Rs 310.55 crore. Face value per share is Rs 5.

Mahindra Mexico S. de. R.L. was incorporated as a 99% subsidiary of Mahindra USA Inc, which in turn is a 100% subsidiary of Mahindra & Mahindra (M&M). Mahindra USA Inc. has invested Mexican peso 9,900 for its 99% stake in the newly formed Mexican company. Mahindra Mexico S. de. R.L. was incorporated to promote Mahindra Brand in Mexico and expand its reach into Mexico to promote higher horsepower (HP) tractors, M&M said.

M&Ms net profit rose 12.37% to Rs 955.21 crore on 13.56% growth in total income to Rs 11348.62 crore in Q1 June 2016 over Q1 June 2015.

M&M enjoys a leadership position in tractors and utility vehicles.

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Need to promote research & innovation in homeland security on PPP mode: Hansraj Gangaram Ahir
Aug 18,2016

There is a need to promote homeland security in the public-private partnership (PPP) mode and encourage research and innovation to speedily tackle threats posed by terrorism to internal security, Minister of State for Home Affairs, Mr Hansraj Gangaram Ahir said at an ASSOCHAM event.

n++Though we are employing manual force in the form of huge army but when it comes to equipment, we need the co-operation of industry which needs to focus on carrying out research and innovation to thwart various methodologies used by terrorists,n++ said Mr Ahir while inaugurating an ASSOCHAM conference on Homeland Security.

n++We want to promote industry and the Prime Minister and governments ambitious Make in India project offers you plenty of opportunities in the homeland security sector,n++ he said.

n++We want to put an end to Chinas supremacy in the homeland security sector,n++ added the minister.

On the ongoing unrest in Jammu and Kashmir, he said that the government will take concrete steps in this regard. n++Everyone knows that it is the game plan of the neighbouring country and though it is not the right time to attack but India can very well protect itself from terrorist activities.n++

He said that over the years, our security forces have shown a lot of restraint. About 4,000 soldiers have got injured due to stone pelting and it is concerning that people are even raising voice against use of pellet guns.

Terming Pakistan as coward and very weak from within, the minister said that though Pakistan does not let any opportunity to tease India but it never highlights what action it has taken against the terrorists.

Mr Ahir also said that government will work towards police modernisation.

On Pakistans invitation to India to talk on Kashmir, he said n++The Prime Minister has made it very clear to Pakistan that from now on there will be no more talks on Kashmir but only on PoK (Pakistan occupied Kashmir) and he will take a decision on the same most effectively.n++

Sharing his viewpoint on the same, Mr Ahir said, n++Though there has been a tradition of going for talks but Pakistan has not kept its word as such we are yet to take a decision in this regard.n++

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