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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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To support farmers for current Rabi crop, Govt has decided to allow farmers to purchase seeds with old denomination of Rs.500 from the Centres
Nov 21,2016

In order to further support farmers for the current Rabi crop, the Government has decided to allow farmers to purchase seeds with the old high denomination bank notes of Rs.500 from the Centres, Units or Outlets belonging to the Central or State Governments, Public Sector Undertakings, National or State Seeds Corporations, Central or State Agricultural Universities and the Indian Council of Agricultural Research (ICAR), on production of proof of identity.

This is in addition to the decision taken earlier for making cash available with the farmers by permitting them to draw up to Rs.25,000 per week from their KYC compliant accounts subject to the normal loan limits and conditions apart from the other facilities announced on 17 November 2016.

The Government is committed to ensure that the farmers are suitably facilitated during the Rabi season.

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Hind Industries gets extension to hold AGM
Nov 21,2016

Hind Industries has secured further extension to hold AGM for FY 2015-16 upto 30 December 2016.

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ITC provides update on subsidiaries
Nov 21,2016

ITC announced that consequent to subscription of the entire share capital of Indivate Inc., USA by ITC Infotech (USA), Inc. on 18 November 2016, Indivate Inc. became a wholly-owned subsidiary of the Company.

ITC Infotech (USA), Inc. is a wholly-owned subsidiary of ITC Infotech India which in turn is a wholly-owned subsidiary of the Company.

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Hinduja Global Solutions appoints Sales & Client Services head
Nov 21,2016

Hinduja Global Solutions announced the appointment of Neil Rae as President - Sales & Client Services, for its North American operations.

To be based out of Toronto, Canada, Neil will lead the Sales and Client facing organization for HGS in North America, overseeing client management for existing clients and acquisition of new business in theUS and Canada. He will also be a key member of HGS Global Advisory Board and participate in overall corporate strategic planning

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Cox & Kings chosen Best Tour Operator
Nov 21,2016

Cox & Kings was bestowed upon the honour of Best Tour Operator at the Travel + Leisure Indias Best Awards 2016 held in New Delhi.

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Mahindra & Mahindra inaugurates state-of-the-art spare parts warehouse
Nov 21,2016

Mahindra & Mahindra announced the inauguration of its state of the art spare parts warehouse in Mahindra World City (MWC), Jaipur. As one of the largest, most modern warehouses in the country and the companys first in northern India, it will cater to the requirement of Mahindra customers in north and north western region of the country for both automotive and tractor spare parts.

This is the Mahindras 4th spare parts warehousing facility, with the others being in Kanhe for Automotive Parts, Bhiwandi for Tractor parts & Hyderabad for Commercial Vehicle Parts, which send out supplies directly to dealerships and in the open market.

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Shares of Rollatainers get listed on NSE
Nov 21,2016

Rollatainers announced that the listing of 25,01,30,000 Equity Shares of Re. 1/- each of Rollatainers on the National Stock Exchange of India has been approved and admitted to trading on the National Stock Exchange of India w.e.f. 22 November 2016.

The Trading symbol is ROLLT.

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Dr Lal PathLabs provides update on proposed acquisition of Delta Ria & Pathology
Nov 21,2016

Dr Lal PathLabs announced that the Company is in the process of completing the due diligence and legal documentation for the acquisition of 100% stake in Delta Ria & Pathology, post which it expects to complete the acquisition by 31 March 2017.

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Tata Elxsi announces cessation of director
Nov 21,2016

Tata Elxsi announced that Piyush G. Mankad, Director has relinquished the office of Directorship of the Company with effect from 19 November 2016 on attaining the age of 75 years as per Companys retirement policy.

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Volumes jump at Thomas Cook (India) counter
Nov 21,2016

Thomas Cook (India) clocked volume of 7.17 lakh shares by 14:23 IST on BSE, a 41.84-times surge over two-week average daily volume of 17,000 shares. The stock lost 2.15% at Rs 189.15.

Shriram City Union Finance notched up volume of 51,000 shares, a 7.24-fold surge over two-week average daily volume of 7,000 shares. The stock was up 1.82% at Rs 1,840.

Upper Ganges Sugar & Industries saw volume of 5.41 lakh shares, a 5.94-fold surge over two-week average daily volume of 91,000 shares. The stock spurted 12.81% at Rs 294.50.

Glenmark Pharmaceuticals clocked volume of 2.58 lakh shares, a 4.69-fold surge over two-week average daily volume of 55,000 shares. The stock lost 1.72% at Rs 883.

Dwarikesh Sugar Industries saw volume of 2.27 lakh shares, a 4.46-fold rise over two-week average daily volume of 51,000 shares. The stock rose 3.93% at Rs 265.80.

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L T Foods to set up a plant in Rotterdam
Nov 21,2016

L T Foods is setting up a plant in Rotterdam in collaboration with Rotterdam Partners, the Port of Rotterdam Authority and NFIA (Netherlands Foreign Investment Agency). The Company will lease 12,000 square meters of business space from Prologis. In the Rotterdam branch, brown rice is to be processed and then distributed within Europe.

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Mineral Production during September 2016 was 3.1% lower as compared to September 2015
Nov 21,2016

The index of mineral production of mining and quarrying sector for the month of September (new Series 2004-05=100) 2016 at 115.6, was 3.1% lower as compared to September 2015. The cumulative growth for the period April- September 2016-17 over the corresponding period of previous year has been 0.0 percent.

The total value of mineral production (excluding atomic & minor minerals) in the country during September 2016 was Rs. 16997 crore. The contribution of Coal was the highest at Rs. 6076 crore (36%). Next in the order of importance were: Petroleum (crude) Rs. 5302 crore, Natural gas (utilized) Rs. 2068 crore, Iron ore Rs. 1457 crore, Lignite Rs.718 crore and Limestone Rs. 535 crore. These six minerals together contributed about 95% of the total value of mineral production in September 2016.

Production level of important minerals in September 2016 were: Coal 424 lakh tonnes, Lignite 39 lakh tonnes, Natural gas (utilized) 2500 million cu. m., Petroleum (crude) 29 lakh tonnes, Bauxite 1707 thousand tonnes, Chromite 164 thousand tonnes, Copper conc. 11 thousand tonnes, Gold 159 kg., Iron ore 130 lakh tonnes, Lead conc. 20 thousand tonnes, Manganese ore 162 thousand tonnes, Zinc conc. 126 thousand tonnes, Apatite & Phosphorite 38 thousand tonnes, Limestone 245 lakh tonnes, Magnesite 26 thousand tonnes and Diamond 2725 carat.

The production of important minerals showing positive growth during September 2016 over September 2015 include Gold (54.4%), Chromite (25.7%), Lignite ( 21.8%), Iron ore (13.4%) Magnesite (11.8%) Manganese ore (5.8%) and Limestone (3.5%). The production of other important minerals showing negative growth are: Apatite & Phosphorite [(-) 77.9%], Bauxite [(-) 24.5 %], Lead conc. [(-) 12.0%], Diamond [(-) 9.5%], Zinc conc. [(-) 8.4%], Copper conc. [(-) 7.5%], Coal [(-) 5.9%], Natural gas (utilized) [(-) 5.6%], and Petroleum (crude) [(-) 4.1%].

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Siyaram Silk Mills drops after reporting muted growth in Q2 net profit
Nov 21,2016

The result was announced on Saturday, 19 November 2016.

Meanwhile, the S&P BSE Sensex was down 394.41 points or 1.51% at 25,755.83

On BSE, so far 958 shares were traded in the counter as against average daily volume of 2,272 shares in the past one quarter. The stock hit a high of Rs 1,240 and a low of Rs 1,187.05 so far during the day. The stock had hit a 52-week low of Rs 911.50 on 19 November 2015. The stock had hit a 52-week high of Rs 1,690 on 1 November 2016.

The small-cap company has equity capital of Rs 9.37 crore. Face value per share is Rs 10.

Siyaram Silk Mills manufactures and markets textiles, cotton, woollen synthetics and synthetic blends. The company is known for its polyester blended worsted fabrics.

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Minda Corporation gets upgradation in credit ratings
Nov 21,2016

Minda Corporation announced that India Ratings and Research has upgraded the Companys Long Term Issuer Rating to IND A+ from IND BBB (suspended). The Outlook is Stable.

Long term loans (Rs 88.04 crore) - IND A+/Stable (Upgraded from IND BBB)

Non fund based limits (Rs 79.36 crore) - IND A+/Stable (Upgraded from IND BBB) and Short term IND A1+ (Upgraded from IND A2)

Fund based limits (Rs 63.5 crore) - IND A+/ Stable (Upgraded from IND BBB) and Short term IND A1+ (Upgraded from IND A2)

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Ramco Systems slips in volatile trade after establishing overseas subsidiary
Nov 21,2016

The announcement was made after market hours on Friday, 18 November 2016.

Meanwhile, the BSE Sensex was down 320.71 points, or 1.23%, to 25,829.53

On BSE, so far 3,283 shares were traded in the counter, compared with average daily volume of 3,846 shares in the past one quarter. The stock was volatile. The stock hit a high of Rs 375 and a low of Rs 355 so far during the day. The stock hit a 52-week high of Rs 849 on 3 December 2015. The stock hit a 52-week low of Rs 357 on 18 November 2016.

The small-cap aviation software provider has equity capital of Rs 30.12 crore. Face value per share is Rs 10.

Ramco Systems said that Ramco Systems (Shanghai) Co has been established to carry on business operations in China. Ramco Systems (Shanghai) Co belongs to Infomation Technology industry and is yet to commence business operations, Ramco Systems said.

Ramco Systems on 18 November 2016 said that the company has secured an order from Schenker AG for Ramco HCM & Payroll for an aggregate value of about EUR 7.3 million.

Ramco Systems reported consolidated net loss of Rs 1.17 crore in Q2 September 2016 as compared with net profit of Rs 5.99 crore in Q2 September 2015. Total income rose 7.38% to Rs 113.69 crore in Q2 September 2016 over in Q2 September 2015.

Ramco Systems is an enterprise software player offering multi-tenanted cloud and mobile-based enterprise software in the area of HCM and Global Payroll, ERP and M&E MRO for Aviation.

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