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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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Riga Sugar Company gets revision in ratings for bank facilities
Mar 06,2017

Riga Sugar Company announced that CARE has reviewed the following credit ratings for bank facilities -

Long term bank facilities (Rs 124.80 crore) - CARE B+/ Stable (Revised from CARE B)

Short term bank facilities (Rs 5 crore) - CARE A4 (Reaffirmed)

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Axis Bank allots 3,54,880 equity shares
Mar 06,2017

Axis Bank has allotted 3,54,880 equity shares of Rs. 2/- each on 06 March 2017, pursuant to exercise of options under its ESOP Scheme. The paid up share capital of the Bank will accordingly increase from Rs. 478,58,75,006 (239,29,37,503 equity shares of Rs. 2/- each) to Rs. 478,65,84,766 (239,32,92,383 equity shares of Rs. 2/- each). You are requested to take the above on record.

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Kushal Tradelink fixes record date for bonus issue
Mar 06,2017

Kushal Tradelink has fixed 17 March 2017 as record date for the purpose of determining members entitled to Bonus shares.

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Bharat Electronics fixes record date for sub-division of shares
Mar 06,2017

Bharat Electronics has fixed 17 March 2017 as record date for determining the eligibility of shareholders with regard to Sub-division of equity shares of the Company.

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Windsor Machines bags 7th National Award for Technology Innovation
Mar 06,2017

Windsor Machines announced that, its KL Two Platen Machine Design based on Italtech Technology, has won the 7th National Award (2016-17) for Technology Innovation in various filed of Petrochemicals & Downstream Plastic Processing Industry organized by Ministry of Chemicals & Fertilizers.

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Board of Alfred Herbert (India) appoints director
Mar 06,2017

Alfred Herbert (India) announced that the Board of Directors of the Company have appointed Alka Bhandari as an Additional Director (Independent Non Executive) with effect from 27 February 2017 by passing a circular resolution on 27 February 2017.

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The Insolvency and Bankruptcy Board of India (IBBI) recognises two Insolvency Professional Entities (IPEs) under the Insolvency and Bankruptcy Code, 2
Mar 06,2017

The Insolvency and Bankruptcy Board of India (IBBI) has recently recognised two Insolvency Professional Entities (IPEs) as under: S. NoName of IPEConstitutionAddress

1

IRR Insolvency Professionals Private Limited

Limited Company

D-55, Defence Colony, New Delhi - 110024

2

AAA Insolvency Professionals LLP

Limited Liability Partnership

E-10A, Lower Ground Floor, Kailash Colony, New Delhi -110048

A limited liability partnership, a registered partnership firm or a company may be recognised by the IBBI as an IPE if (a) a majority of the partners of the limited liability partnership or registered partnership firm are registered as insolvency professionals (IPs); or (b) a majority of the whole-time directors of the company are registered as insolvency professionals, as the case may be. An IPE is jointly and severally liable for all acts or omissions of its partners or directors as IPs committed during such partnership or directorship.

The Insolvency Professionals (IPs) are registered and regulated by the IBBI. They have a critical role in transactions under the Insolvency and Bankruptcy Code, 2016 (Code). The Code and regulations made there under provide for strengthening their capacity on a continuous basis. For example, the Insolvency Professional Agencies (IPAs) are obliged to promote continuous professional development of professional members enrolled with them. Similarly, the IPs have been enabled to engage other professionals as may be necessary and to use organisational resources of an IPE of which he is a partner or whole time director, as the case may be, for servicing the transactions.

The Insolvency and Bankruptcy Code, 2016 is considered as the biggest economic reform next only to GST. It offers a market determined, time bound mechanism for orderly resolution of insolvency, wherever possible, and orderly exit, wherever required. The Code envisages an ecosystem comprising National Company Law Appellate Tribunal (NCLAT), National Company Law Tribunal (NCLT), Debt Recovery Appellate Tribunal (DRAT), Debt Recovery Tribunal (DRT), Insolvency and Bankruptcy Board of India (Board), Information Utilities (IUs), Insolvency Professionals (IPs), Insolvency Professional Agencies (IPAs) and Insolvency Professional Entities (IPEs) for implementation of the Code. With concerted efforts of all concerned, there has been considerable progress in terms of putting in place some of the key elements of the ecosystem and also operationalisation of provisions relating to corporate insolvency resolution and liquidation. The debtors and creditors alike have commenced transactions under the Code.

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Board of Atlas Jewellery India appoints director
Mar 06,2017

Atlas Jewellery India announced that the Board of Directors of the Company at its meeting held on 05 March 2017, have appointed Bashyakar Mattapalli (DIN 06738582) as Non-Executive Independent Director of the Company w.e.f. 05 March 2017.

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Wipro recognised as Best in Class Technology Provider for 2017
Mar 06,2017

Wipro announced that it has been recognised among the Best in Class Technology Providers 2017 in the Annual Readers choice issue of Consumer Goods Technology (CGT) magazine, published this February. Wipro has been recognised in the categories of outsourcing/ IT integration, Consulting and TPM (Wipro Promax Analytics Solutions).

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Arfin India secures order worth Rs 107 crore
Mar 06,2017

Arfin India has been bagged an order from JSW Steel worth around Rs.107 crore for supply to its three units located at Bellary, Dolvi & Salem for the financial year 2017-18.

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TechNVision Ventures announces demise of chairman
Mar 06,2017

TechNVision Ventures announced the sad demise of Parmeswara Rao Gundavell, Chairman on 06 March 2017.

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China: Stocks close up
Mar 06,2017

Mainland China stock market closed higher on Monday, 06 March 2017, as investors piled into technology shares after Premier Li Keqiang pledged to support innovative industries such as new materials, artificial intelligence and the biopharmaceutical sector as a key part of the economys restructuring at the annual opening of the countrys parliament. The Shanghai Composite Index closed the day up 0.48% at 3,234, while the CSI 300 - which tracks the large caps listed in Shanghai and Shenzhen - was up 0.54% at 3,446. The Shenzhen Component Index added 1.20% to 10,522. The tech-heavy ChiNext surged 1.79% to 1,963.

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Nikkei falls; yen rallies after N Korea fires missiles
Mar 06,2017

The Japan share market ended down on Monday, 06 March 2017, due to renewed geopolitical concerns after North Korea fired four missiles - three of them landing in Japanese waters. The geopolitical woes shadowed enthusiasm over the possibility of a near-term interest-rate increase by the Federal Reserve. Japanese Prime Minister Shinzo Abe warned the threat from North Korea had entered a new stage following the missile launch, which came after Pyongyang fired a rocket last month. The 225-issue Nikkei average shed 90.03 points, or 0.46%, to finish at 19,379.14. The Topix index of all first-section issues closed down 3.15 points, or 0.20%, at 1,554.90. Rising stocks outnumbered declining ones on the Tokyo Stock Exchange by 1555 to 1420 and 374 ended unchanged. The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was up 0.40% to 17.62.

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Canara Bank renews MCLR rates
Mar 06,2017

Canara Bank has renewed MCLR rates with effect from 07 March 2017 as under -

Overnight - 8.20%
One month - 8.25%
Three month - 8.30%
Six month - 8.40%

One year - 8.45%

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Australia Stocks up, driven by miners
Mar 06,2017

Australian equity market finished marginally higher on Monday, 06 March 2017, due to gains in material stocks and financials offset the losses in defensive and energy stocks. The S&P/ASX 200 index finished 0.29%, or 16.899 points, higher at 5,746.5. Falling stocks outnumbered advancing ones on the Australia Stock Exchange by 586 to 485 and 335 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 3.27% to 12.101.

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