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Reliance Capital gains after board approves independent listing of home finance business

Reliance Capital gains after board approves independent listing of home finance business

Sep 14,2016

The announcement was made yesterday, 13 September 2016, when stock market remained closed on account of Bakri Id.

Meanwhile, the S&P BSE Sensex was down 46.19 points or 0.16% at 28,307.35.

On BSE, so far 6.75 lakh shares were traded in the counter as against average daily volume of 5.01 lakh shares in the past one quarter. The stock hit a high of Rs 561.50 and a low of Rs 546.65 so far during the day. The stock had hit a 52-week high of Rs 574 on 9 September 2016. The stock had hit a 52-week low of Rs 303.60 on 12 February 2016. The stock had outperformed the market over the past one month till 12 September 2016, rising 21.96% compared with 0.71% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 32.06% as against Sensexs 6.45% rise.

The large-cap company has equity capital of Rs 252.63 crore. Face value per share is Rs 10.

Reliance Capital said the independent listing of Reliance Home Finance (RHF) is expected to unlock substantial value for existing shareholders of Reliance Capital. The listing of Reliance Home Finance will also lead to increased management focus and accelerated growth in the home finance business. As per the proposal, 49% stake in Reliance Home Finance Limited will be allotted to all shareholders of Reliance Capital, in the ratio of one share free of cost in Reliance Home Finance for every one share held in Reliance Capital.

Reliance Capital will hold a 51% stake in Reliance Home Finance, and the company will be adequately capitalised to grow the lending book to over Rs 20000 crore in the next 18 months. The proposal is subject to necessary shareholders and other approvals. Reliance Home Finance, a 100% subsidiary of Reliance Capital, provides a wide range of loan solutions like home loan, LAP, construction finance and affordable housing loans. The company reported an AUM of Rs 8259 crore ($1.2 billion) during the quarter ended 30 June 2016.

Mr. Anmol A. Ambani, Director, Reliance Capital said Prime Minister, Narendra Modi has set a goal of affordable housing for all by 2022. There is presently an estimated shortage of 10 crore residential units in India. To address the needs of this sector, Reliance Home Finance has charted an aggressive growth plan in this space, and aims to increase its book size to over Rs 50000 crore in the next few years.

On a consolidated basis, Reliance Capitals net profit rose 3% to Rs 207 crore on 48.3% growth in total income to Rs 3663 crore in Q1 June 2016 over Q1 June 2015.

Reliance Capital, a part of the Reliance Group, is one of Indias leading private sector financial services companies.

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Kajal Synthetics & Silk Mills to hold EGM
Feb 28,2017

Kajal Synthetics & Silk Mills announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 24 March 2017 .

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Ind-Ra: Robust Profitability to Support Credit Metrics of Pharma Companies in FY18
Feb 28,2017

India Ratings and Research (Ind-Ra) has maintained a stable outlook on the pharmaceuticals sector for FY18, as the agency believes the sectors profitability will remain stable and support credit metrics. Regulatory actions resulted in a dip in the sectors profitability during FY15, which recovered in FY16 and 1HFY17.

Ind-Ra continues to maintain the overall sector growth at 8%-10% yoy for FY18, on the back of brisk domestic market growth. Though the intensity of new actions by the US Food and Drug Administration (USFDA) against Indian manufacturing facilities was lower in 2016, export revenue growth remained weak as the number of manufacturing facilities facing regulatory actions has not declined. Eight warning letters and three import alerts (2015: 17 and 12, respectively) were issued by USFDA in 2016 and the number of facilities under import alert has now increased to 45.

The National Pharmaceutical Pricing Authority is likely to further expand the price control regime, which can impact the profitability of domestic market focussed companies. The profitability of companies exporting to regulated markets improved during FY16 and 1HFY17, due to a higher proportion of revenue from new products. Indian companies received close to 200 abbreviated new drug application (ANDA) approvals each in 2015 and 2016 (2014: 122) from the USFDA. The agency believes that the new US administrations avowed plan to reduce the cost of medicines will increase the focus on generics, reduce inefficiencies in the market, and favour efficient manufacturers of generic drugs. Also, the proposed reforms in the approval process are likely to cut the time-to-market for products and benefit companies with a large pipeline of ANDAs pending approval. While competition for Indian companies can intensify, we believe the shifting product development focus towards difficult-to-develop dosage and delivery forms will enable the sector to sustain profitability and meet the possible fallout of policy uncertainty.

The agency expects pharmaceutical companies to engage in targeted acquisitions to overcome regulatory and competition headwinds. Especially the large companies are likely to use debt to fund acquisitions. While we expect a majority of pharma companies to generate positive cash from operations, free cash flow could remain stretched in FY18. The sectors credit metrics remain comfortable and most of the pharmaceutical companies are rated at IND A or above. Ind-Ra expects this to continue over FY18.

OUTLOOK SENSITIVITIES

Rebound in Export Growth: A sustained improvement in export growth of the sector and/or an increase in the proportion of revenue from differentiated generic products resulting in a sustained improvement in operating profitability can be positive for the sector.

Regulatory Concerns: An increase in regulatory actions by the National Pharmaceutical Pricing Authority and/or USFDA against manufacturing facilities adversely impacting revenue generation and/or pricing ability of sector companies and leading to a further slowdown in revenue and margin erosion will be negative for the sector.

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Zee gains on receipt of $330 million from Sony Pictures
Feb 28,2017

The announcement was made during market hours today, 28 February 2017.

Meanwhile, the S&P BSE Sensex was down 77.86 points or 0.27% at 28,735.02.

On the BSE, 54,000 shares were traded on the counter so far as against the average daily volumes of 1.13 lakh shares in the past one quarter. The stock had hit a high of Rs 513 and a low of Rs 504 so far during the day.

The stock had hit a 52-week high of Rs 588.80 on 3 October 2016 and a 52-week low of Rs 364.50 on 29 February 2016. It had underperformed the market over the past one month till 27 February 2017, gaining 1.5% compared with the Sensexs 3.34% rise. The scrip had, however, outperformed the market over the past one quarter, advancing 14.44% as against the Sensexs 9.49% rise.

The large-cap company has equity capital of Rs 96.04 crore. Face value per share is Rs 1.

Zee Entertainment Enterprises (Zee) said the first phase of transaction comprising of sale of entire equity stake of the company in Taj - India and transfer of major part of sports broadcasting business of Taj - Mauritius stands concluded today, 28 February 2017, upon receipt of $330 million by the company and its subsidiaries.

Following the completion of this phase of acquisition of TEN Sports Network from Zee, Sony Pictures Networks Indias (SPN) cluster of nine sports channels will now include Sony Six & Sony Six HD, Sony ESPN & Sony ESPN HD, TEN 1, TEN 1 HD, TEN 2, TEN 3 and TEN Golf HD. Zee said that certain other operations and assets will be included in the second phase of transaction, which is expected to be completed in the next few months.

In August 2016, the company agreed to sell sports broadcasting business housed under its subsidiaries - Taj TV, Mauritius and Taj Television (India) to SPN and its affiliates (Sony Group) at an aggregate consideration of $385 million.

Zees consolidated net profit rose 8.6% to Rs 250.81 crore on 3.4% growth in net sales to Rs 1639.12 crore in Q3 December 2016 over Q3 December 2015.

Zee Entertainment Enterprises is one of Indias leading television media and entertainment companies.

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Edelweiss Financial reverses direction after hitting 52-week high
Feb 28,2017

Shares of Edelweiss Financial Services had surged 27.08% in seven sessions to settle at Rs 142.15 yesterday, 27 February 2017, from a close of Rs 111.85 on 15 February 2017.

Meanwhile, the S&P BSE Sensex was down 32.55 points or 0.11% at 28,780.33.

More than usual volumes were traded on the counter. On the BSE, 4.87 lakh shares were traded in the counter so far as against average daily volume of 2.79 lakh shares in the past one quarter. The stock had hit a high of Rs 148.35 in intraday trade, which is also a 52-week high for the stock. The stock had hit a low of Rs 137.95 so far during the day. The stock had hit a 52-week low of Rs 47 on 29 February 2016.

The stock had outperformed the market over the past one month till 27 February 2017, gaining 26.08% compared with the Sensexs 3.34% rise. The scrip had also outperformed the market over the past one quarter, jumping 50.34% as against the Sensexs 9.49% rise.

The large-cap company has equity capital of Rs 83.22 crore. Face value per share is Re 1.

As per recent reports, Edelweiss Financial Services is in the process of selling its entire commodities business as it intends to make a fresh bid at getting a banking licence.

Edelweiss Financial Services consolidated net profit rose 46.9% to Rs 155.18 crore on 20% rise in total income to Rs 1612.47 crore in Q3 December 2016 over Q3 December 2015.

Edelweiss Financial Services offers a range of products and services spanning retail finance, debt capital markets, commodities, financial markets, asset management and life insurance.

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Asia Infrastructure Needs Exceed $1.7 Trillion Per Year, Double Previous Estimates
Feb 28,2017

Infrastructure needs in developing Asia and the Pacific will exceed $22.6 trillion through 2030, or $1.5 trillion per year, if the region is to maintain growth momentum, according to a new flagship report by the Asian Development Bank (ADB). The estimates rise to over $26 trillion, or $1.7 trillion per year, when climate change mitigation and adaptation costs are incorporated.

The report, Meeting Asias Infrastructure Needs, focuses on the regions power, transport, telecommunications, and water and sanitation infrastructure. It comprehensively examines current infrastructure stocks and investments, future investment needs, and financing mechanisms for developing Asia.

n++The demand for infrastructure across Asia and the Pacific far outstrips current supply,n++ said ADB President Takehiko Nakao. n++Asia needs new and upgraded infrastructure that will set the standard for quality, encourage economic growth, and respond to the pressing global challenge that is climate change.n++

Infrastructure development in the 45 countries covered in the report has grown dramatically in recent decades n++ spurring growth, reducing poverty, and improving peoples lives. But a substantial infrastructure gap remains, with over 400 million people still lacking electricity, 300 million without access to safe drinking water, and about 1.5 billion lacking access to basic sanitation. Many economies in the region lack adequate ports, railways, and roads that could connect them efficiently to larger domestic and global markets.

n++ADB pledges to work with member countries and use our 50 years of experience and expertise to meet infrastructure needs in the region. As the private sector is crucial to fill infrastructure gaps, ADB will promote investment friendly policies and regulatory and institutional reforms to develop bankable project pipelines for public-private partnerships,n++ said Mr. Nakao.

Report Highlights:

n++ Developing Asia will need to invest $26 trillion from 2016 to 2030, or $1.7 trillion per year, if the region is to maintain its growth momentum, eradicate poverty, and respond to climate change (climate-adjusted estimate). Without climate change mitigation and adaptation costs, $22.6 trillion will be needed, or $1.5 trillion per year (baseline estimate).

n++ Of the total climate-adjusted investment needs over 2016-2030, $14.7 trillion will be for power and $8.4 trillion for transport. Investments in telecommunications will reach $2.3 trillion, with water and sanitation costs at $800 billion over the period.

n++ East Asia will account for 61% of climate-adjusted investment needs through 2030. As a percentage of GDP, however, the Pacific leads all other sub-regions, requiring investments valued at 9.1% of GDP. This is followed by South Asia at 8.8%, Central Asia at 7.8%, Southeast Asia at 5.7%, and East Asia at 5.2% of GDP.

n++ The $1.7 trillion annual climate-adjusted estimate is more than double the $750 billion ADB estimated in 2009. The inclusion of climate-related investments is a major contributing factor. An even more important factor is the continued rapid growth forecasted for the region, which generates new infrastructure demand. The inclusion of all 45 ADB member countries in developing Asia, compared to 32 in the 2009 report, and the use of 2015 prices versus 2008 prices also explain the increase.

n++ Currently, the region annually invests an estimated $881 billion in infrastructure (for 25 economies with adequate data, comprising 96% of the regions population). The infrastructure investment gap n++ the difference between investment needs and current investment levels n++ equals 2.4% of projected GDP (climate-adjusted) for the 5-year period from 2016 to 2020.

n++ The Peoples Republic of China (PRC) has a gap of 1.2% of GDP in the climate-adjusted scenario. Without the PRC, the gap rises to a much higher 5% of the remaining 24 economies projected GDP. Public finance reforms could generate additional revenues estimated to bridge around 40% of the gap (or 2% of GDP) for these 24 economies. For the private sector to fill the remaining gap (3% of GDP), it would have to increase investments from about $63 billion today to as high as $250 billion a year over 2016-2020.

n++ Regulatory and institutional reforms are needed to make infrastructure more attractive to private investors and generate a pipeline of bankable projects for public-private partnerships (PPPs). Countries should implement PPP-related reforms such as enacting PPP laws, streamlining PPP procurement and bidding processes, introducing dispute resolution mechanisms, and establishing independent PPP government units. Deepening of capital markets is also needed to help channel the regions substantial savings into productive infrastructure investment.

n++ Multilateral development banks (MDB) have financed an estimated 2.5% of infrastructure investments in developing Asia. Excluding the PRC and India, MDB contributions rise above 10%. A growing proportion of ADB finance is now going to private sector infrastructure projects. Beyond finance, ADB is playing an important role in Asia by sharing expertise and knowledge to identify, design, and implement good projects. ADB is scaling up operations, integrating more advanced and cleaner technology into projects and streamlining procedures. ADB will also promote investment friendly policies and regulatory and institutional reforms.

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Manali Petrochemicals spurts on hopes Govt mulls anti-dumping duty on foam-making chemical
Feb 28,2017

Meanwhile, the S&P BSE Sensex was down almost unchanged at 28,812.07.

The stock galloped on heavy volumes. On the BSE, 26.09 lakh shares were traded on the counter so far as against the average daily volumes of 1.12 lakh shares in the past one quarter. The stock had hit a high of Rs 42 and a low of Rs 37 so far during the day.

The stock had hit a 52-week high of Rs 47.60 on 24 October 2016 and a 52-week low of Rs 22.30 on 26 February 2016. It had underperformed the market over the past one month till 27 February 2017, sliding 4.44% compared with the Sensexs 3.34% rise. The scrip had also underperformed the market over the past one quarter, advancing 4.56% as against the Sensexs 9.49% rise.

The small-cap company has equity capital of Rs 86 crore. Face value per share is Rs 5.

According to reports, the government is likely to impose anti-dumping duty of up to $135.40 per tonne on imports of a chemical used in foam making from Thailand. The move is aimed at protecting domestic players from cheap imports of flexible slabstock polyol from the South-East Asian country, as per reports.

Media reports further stated that the application for the anti-dumping investigation was filed by Manali Petrochemicals on behalf of the domestic industry. The company has claimed that these account for more than 95% of the total production for the product.

The chemical flexible slabstock polyol is used in the foam industry, which is used in upholstery, mattresses, pillows, transport seating and packaging.

Manali Petrochemicals net profit surged 251.2% to Rs 14.54 crore on 21% growth in net sales to Rs 138.18 crore in Q3 December 2016 over Q3 December 2015.

Manali Petrochemicals is engaged in the business of manufacture of petrochemicals. The company is engaged in offering polyols and propylene glycol.

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Ind-Ra: State Finances to Remain Resilient in FY18
Feb 28,2017

India Ratings and Research (Ind-Ra) expects the aggregate fiscal deficit of Indian states to increase marginally to 3.3% of gross domestic product (GDP) in FY18 from its forecast of 3.2% for FY17. The agency has maintained its forecast for FY17. The aggregate states debt/GDP ratio may increase marginally to 24.3% in FY18 from Ind-Ras forecast of 24% for FY17.

The central government is evaluating the report of the N. K. Singh panel on Fiscal Responsibility and Budget Management, which allows the fiscal deficit of the central government to be increased by 0.5% of GDP. Ind-Ra believes once the report is accepted, states would also make suitable changes in the fiscal deficit targets specified under their Fiscal Responsibility and Budget Management acts.

Ind-Ra estimates the net market borrowings of states will increase to INR3.7 trillion in FY18 from its forecast of INR3.5 trillion for FY17. However, as a percentage of GDP, states net market borrowings is likely to moderate to 2.2% in FY18 from its forecast of 2.3% for FY17.

Ind-Ra expects goods and services tax to be implemented from July 2017.Ind-Ra believes the proposed compensation of INR500 billion by the central government to state governments to cover revenue losses post tax implementation will be sufficient.

Ind-Ra expects demand for petroleum products in FY18 to increase 9.5% yoy and the prices of Indian crude basket to increase to INR4,015/bbl from INR3,122/bbl in FY17 (April-January). Ind-Ra expects states with a higher proportion of revenue from petroleum products in own tax revenue to benefit from the increase in crude oil prices.

On the expenditure side, Ind-Ra expects the aggregate capital expenditure/GDP ratio of states to remain stable at 3.4% in FY18, same as in FY16 and FY17 (FY15: 2.5%). Despite a salary revision, Ind-Ra expects select committed expenditure (in the form of salary, pension and interest payments)/current expenditure ratio to remain stable in FY18.

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V2 Retail advances after launching retail store
Feb 28,2017

The announcement was made during market hours today, 28 February 2017.

Meanwhile, the S&P BSE Sensex was down 9.57 points or 0.03% at 28,803.31.

On the BSE, 26,843 shares were traded in the counter so far as against average daily volume of 34,136 shares over the past one quarter. The stock had hit a high of Rs 191.35 and a low of Rs 184.45 so far during the day. The stock had hit a 52-week high of Rs 194.40 on 21 February 2017. The stock had hit a 52-week low of Rs 41.50 on 29 February 2016.

The stock had outperformed the market over the past one month till 27 February 2017, gaining 22.4% compared with the Sensexs 3.34% rise. The scrip had also outperformed the market over the past one quarter, jumping 57.51% as against the Sensexs 9.49% rise.

The small-cap company has equity capital of Rs 28.89 crore. Face value per share is Rs 10.

V2 Retail said that currently 36 retail stores are operational of the company.

V2 Retails net profit surged 245.2% to Rs 33.38 crore on 55.7% rise in net sales to Rs 152.81 crore in Q3 December 2016 over Q3 December 2015.

V2 Retail is one of the fastest growing retail groups in India.

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India and ADB sign $375 million in loans and grants for first phase of 2,500-kilometer long East Coast Economic Corridor
Feb 28,2017

The Asian Development Bank (ADB) and the Government of India signed here $375 million in loans and grants to develop 800-kilometer Visakhapatnam-Chennai Industrial Corridor, which is the First Phase of a planned 2,500-kilometer long East Coast Economic Corridor (ECEC). The Corridor is expected to spur development on Indias eastern coast in line with the Government of Indias Make in India policy to stimulate manufacturing, and Act East policy to integrate the Indian economy with Asias dynamic global production networks.

The signing event was held on 23 February 2017 followed the ADB approval of $631 million in loans and grants in September 2016 to develop the Visakhapatnam-Chennai Industrial Corridor. ADBs approved loans comprise a $500 million multi-tranche facility to build key infrastructure in the four main centers along the corridor - Visakhapatnam, Kakinada, Amaravati, and Yerpedu-Srikalahasti in the State of Andhra Pradesh. The First Tranche of $245 million was signed today that will finance sub-projects to develop high-quality internal infrastructure in 2 of the 4 nodes of the corridor-Visakhapatnam and Yerpedu-Srikalahasti.

Another component of the approved ADB funds signed on 23.02.2017 was a $125 million policy-based loan that will be used for capacity development of institutions engaged in corridor management, provide support to enhance ease of doing business and for supporting industrial and sector policies to stimulate industrial development.

n++ADB is supporting an industrial corridor development approach that involves creation of efficient transport, and reliable water and power supplies in the industrial clusters along with a skilled workforce, to be backed by industry-friendly policies that improve ease of doing business for integration of local economy with global production networks,n++ said L. B. Sondjaja, Deputy Country Director of ADBs India Resident Mission who signed the loan agreement on behalf of ADB. n++We estimate that by 2025, annual industrial output along the corridor will increase fourfold to $64 billion from about $16 billion in 2015 if investment opportunities are maximized over the next few years.n++

The project is an important milestone in the process of developing the corridor and realizing the objectives of Make in India. We sincerely hope that the project will complement the ongoing efforts of the Government of Andhra Pradesh to enhance industrial growth and create high-quality jobs,n++ said Raj Kumar, Joint Secretary (Multilateral Institutions), in the Ministry of Finance, who signed the loan agreement for Government of India. The project agreement was signed by Hema Munivenkatappa, Special Secretary to Government (Finance) on behalf of the Government of Andhra Pradesh.

Along with the ADB loans, agreement was also signed for a $5 million grant from the multi-donor Urban Climate Change Resilience Trust Fund that is managed by ADB to build climate change resilient infrastructure. The Government of India will provide extra funding of $215 million to the $846 million project.

Among the outputs envisaged under the $245 million tranche 1 loan include strengthening and widening of a 29.6-kilometer section of state highway to four lanes to improve connectivity from Kakinada Port to National Highway 16, investments in smart water management in Visakhapatnam to reduce nonrevenue water and provide continuous water supply, upgrading 7 power substations to supply high-quality and reliable power supply to Visakhapatnam, Naidupeta, and Yerpedu-Srikalahasti industrial clusters, and effluent treatment facility in Atchutapuram and Naidupeta clusters.

The tranche 1 loan will have a 25-year term, including a grace period of 5 years, a 20-year straight line repayment method at an annual interest rate determined in accordance with ADBs LIBOR-based lending facility.

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L&T Hydrocarbon Engineering signs 5 year Enterprise Framework Agreement
Feb 28,2017

Larsen & Toubro announced that its subsidiary, L&T Hydrocarbon Engineering has signed a five year Enterprise Framework Agreement with Shell Global Solutions International B.V. for providing Engineering, Procurement and Construction Management Services for Shell projects in Middle East, South East Asia and India.

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Lupin receives final approval for generic Percocetn++ Tablets
Feb 28,2017

Lupin announced that it has received final approval for its Oxycodone and Acetaminophen Tablets USP, 2.5 mg/325 mg, 5 mg/325 mg, 7.5 mg/325 mg and 10 mg/325 mg from the United States Food and Drug Administration (FDA) to market a generic version of Vintage Pharmaceuticals LLCs Percocetn++ Tablets, 2.5 mg/325 mg, 5 mg/325 mg, 7.5 mg/325 mg and 10 mg/325 mg. Lupin shall commence promoting the product shortly.

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Trent announces issuance of Commercial Paper aggregating Rs 100 crore
Feb 28,2017

Trent has issued commercial paper aggregating Rs 100 crore.

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Karnataka Bank leads gainers on BSEs A group
Feb 28,2017

Karnataka Bank jumped 6.28% at Rs 137. The stock topped the gainers in A group. On the BSE, 16.24 lakh shares were traded on the counter so far as against the average daily volumes of 4.62 lakh shares in the past two weeks.

Gati rose 5.48% at Rs 129.95. The stock was the second biggest gainer in A group. On the BSE, 11.29 lakh shares were traded on the counter so far as against the average daily volumes of 1.09 lakh shares in the past two weeks.

Federal Bank rose 5.4% at Rs 87.90. The stock was the third biggest gainer in A group. On the BSE, 13.09 lakh shares were traded on the counter so far as against the average daily volumes of 7.69 lakh shares in the past two weeks.

Sun Pharma Advanced Research Company rose 5.28% at Rs 336.90. The stock was the fourth biggest gainer in A group. On the BSE, 2.24 lakh shares were traded on the counter so far as against the average daily volumes of 55,000 shares in the past two weeks.

Kaveri Seed Company rose 3.94% at Rs 484. The stock was the fifth biggest gainer in A group. On the BSE, 1.02 lakh shares were traded on the counter so far as against the average daily volumes of 30,000 shares in the past two weeks.

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Volumes jump at Idea Cellular counter
Feb 28,2017

Idea Cellular clocked volume of 15.24 crore shares by 13:45 IST on BSE, a 63.05-times surge over two-week average daily volume of 24.18 lakh shares. The stock lost 2.4% at Rs 111.85 amid reports that private equity fund Providence exited the company by selling entire shareholding.

Providence had picked up 15% stake in Idea Cellular in 2006 through its investment arm P5 Asia Investment (Mauritius) for around Rs 1800 crore and has been paring its holding continuously over the years. P5 Asia Investment (Mauritius) owned 3.33% stake in Idea Cellular as per the shareholding pattern as on 31 December 2016.

It may be noted that Idea Cellular has been in the news on account of likely merger with rival Vodafone.

Manali Petrochemical notched up volume of 23.46 lakh shares, a 31.85-fold surge over two-week average daily volume of 74,000 shares. The stock surged 16.88% at Rs 41.55.

Blue Star saw volume of 1.07 lakh shares, a 24.21-fold surge over two-week average daily volume of 4,000 shares. The stock was up 1.85% at Rs 566.

Bata India clocked volume of 5.49 lakh shares, a 13.48-fold surge over two-week average daily volume of 41,000 shares. The stock rose 1.92% at Rs 509.30.

Lincoln Pharmaceuticals saw volume of 5.70 lakh shares, a 11.39-fold rise over two-week average daily volume of 50,000 shares. The stock jumped 19.75% at Rs 244.

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V2 Retail opens retail store in Bihar
Feb 28,2017

V2 Retail has launched one operational Retail Store at below mentioned location/address:-

a) Khasra No. 693 & 694, Khata No. 471, Janpur Road, Motihari, Bihar-845401,

Therefore currently 36 (Thirty Six) Retail stores are operational.

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