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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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G M Breweries standalone net profit declines 18.92% in the June 2017 quarter
Jul 07,2017

Net profit of G M Breweries declined 18.92% to Rs 10.20 crore in the quarter ended June 2017 as against Rs 12.58 crore during the previous quarter ended June 2016. Sales rose 6.14% to Rs 94.50 crore in the quarter ended June 2017 as against Rs 89.03 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales94.5089.03 6 OPM %16.3922.35 - PBDT16.8820.59 -18 PBT15.6019.24 -19 NP10.2012.58 -19

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Alpha Hi-Tech Fuel reports standalone nil net profit/loss in the June 2017 quarter
Jul 07,2017

Alpha Hi-Tech Fuel reported no net profit/loss in the quarter ended June 2017 as against net loss of Rs 0.02 crore during the previous quarter ended June 2016. There were no Sales reported in the quarter ended June 2017 and during the previous quarter ended June 2016.

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Beryl Drugs standalone net profit declines 16.67% in the June 2017 quarter
Jul 07,2017

Net profit of Beryl Drugs declined 16.67% to Rs 0.10 crore in the quarter ended June 2017 as against Rs 0.12 crore during the previous quarter ended June 2016. Sales rose 59.54% to Rs 4.85 crore in the quarter ended June 2017 as against Rs 3.04 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales4.853.04 60 OPM %5.579.54 - PBDT0.230.24 -4 PBT0.130.14 -7 NP0.100.12 -17

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Sanwaria Agro Oils standalone net profit rises 71.52% in the June 2017 quarter
Jul 07,2017

Net profit of Sanwaria Agro Oils rose 71.52% to Rs 18.61 crore in the quarter ended June 2017 as against Rs 10.85 crore during the previous quarter ended June 2016. Sales rose 101.91% to Rs 1152.10 crore in the quarter ended June 2017 as against Rs 570.59 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales1152.10570.59 102 OPM %3.586.07 - PBDT23.6415.16 56 PBT21.8213.18 66 NP18.6110.85 72

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The Sovereign Gold Bond Scheme 2017-18 - Series II will be opened for subscription for the period from July 10, 2017 to July 14, 2017
Jul 07,2017

The Sovereign Gold Bond Scheme 2017-18 - Series II will be opened for subscription for the period from July 10, 2017 to July 14, 2017. The nominal value of the bond based on the simple average closing price [published by the India Bullion and Jewellers Association (IBJA)] for gold of 999 purity of the week preceding the subscription period, i.e. July 03-07, 2017 works out to ₹ 2830/- per gram. Government of India, in consultation with the Reserve Bank of India, has decided to offer a discount of ₹ 50 per gram on the nominal value of the Sovereign Gold Bond. Hence, the issue price of Gold Bond for this tranche has been fixed at ₹ 2780 /- (Rupees Two Thousand Seven Hundred Eighty only) per gram of gold.

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ADB President Proposes $10 Billion Support for Indias Low-Income States and East Coast Economic Corridor
Jul 07,2017

Asian Development Bank (ADB) President Takehiko Nakao today explained to Indias leaders that ADBs new country strategy for India (2018-2022) will focus on improving economic performance of low-income states and enhancing its support for developing economic corridors under the Make-in-India initiative.

President Nakao was on the last day of a 3-day visit to India. He met with Finance Minister Arun Jaitley, Minister of Commerce and Industry Nirmala Sitharaman, and other senior officials.

Mr. Nakao applauded the government for its effective macroeconomic management, and appreciated the reforms introduced to improve the investment climate and incentivize economic activities over the last 3 years. In particular, he commended the government for its efforts to implement the uniform Goods and Services Tax, effective 1 July, that would create a single national market and spur economic growth by removing tax distortions.

ADB expects India to grow by 7.4% in the current financial year (FY) ending 31 March 2018, and 7.6% in FY2018.

n++Several reform measures introduced by the government for rationalizing tax structure, boosting competitiveness, and easing foreign direct investment norms in crucial sectors like infrastructure will contribute to its objective of achieving high and inclusive economic growth,n++ Mr. Nakao said. n++Further reforms both at central and state levels for improving efficiency in the land and labor markets and strengthening the banking sector will boost growth.n++

Mr. Nakao told the Indian leadership ADB stands ready to meet immediate development needs of up to $5 billion over the 5-year period for less developed states, including Uttar Pradesh, Bihar, Jharkhand, Odisha, and Chhattisgarh, addressing critical infrastructure and capacity deficits.

Mr. Nakao also confirmed that with ADB assistance, strategic planning for economic corridors is rapidly progressing. ADB is prepared to invest up to $5 billion during 2018-2022 for infrastructure building to develop the East Coast Economic Corridor. He praised progress on attracting investments in manufacturing industries in the Corridor. Building on an ongoing $631 million project in the Vizag-Chennai section approved by the ADB Board in 2016, Mr. Nakao conveyed ADBs readiness to expand the Corridor further south in Tamil Nadu.

This combined total of $10 billion in major investments would be part of ADBs new country strategy, which proposes annual lending over the 5-year period of $3 billion-$4 billion from sovereign and nonsovereign operations. The final amounts will depend on the implementation readiness of projects under preparation and the borrowing policies of the central and state governments.

The new country strategy aims at (i) boosting competitiveness and job creation; (ii) providing inclusive infrastructure and services; and (iii) addressing climate change and environmental challenges. Development of core infrastructure in the transport, energy, and urban sectors would remain the focus of ADBs India operations, along with continuing support to skills development, irrigation and agricultural value chains, and urban health.

Earlier on his visit, Mr. Nakao travelled to Lucknow to meet with Uttar Pradesh Chief Minister Yogi Adityanath and discussed ADBs possible investment in the coming years in smart cities, water supply and sanitation, state and district roads, rapid rail transport, electricity distribution, and heritage restoration. A $300 million loan approved last year to upgrade major district roads in the state was signed in the presence of Mr. Nakao and the Chief Minister.

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Vaibhav Global appoints company secretary and compliance officer
Jul 07,2017

Vaibhav Global has appointed Sushil Sharma as Company Secretary and Compliance Officer with effect from 06 July 2017.

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ADCC Infocad fixes record date for bonus issue
Jul 07,2017

ADCC Infocad has fixed 11 August 2017 as the Record Date for the purpose of issue of Bonus Shares in the ratio of 1:10 i.e. 1 (One Equity Share) for Rs. 10 each for every 10 (Ten) fully paid up equity share(s) of the Company.

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Lakshmi Machine Works to hold board meeting
Jul 07,2017

Lakshmi Machine Works will hold a meeting of the Board of Directors of the Company on 7 August 2017 Quarterly Results

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ANG Industries to hold board meeting
Jul 07,2017

ANG Industries will hold a meeting of the Board of Directors of the Company on 17 July 2017 To take record the Unaudited financial Results of the company for the quarter ended on 30th June, 2017

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Just Dial to hold board meeting
Jul 07,2017

Just Dial will hold a meeting of the Board of Directors of the Company on 11 July 2017.

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ADB Issues Rs14 Billion Indian Rupee Linked Bond
Jul 07,2017

The Asian Development Bank (ADB) has raised Rs14 billion, about $217 million, from a new issue of offshore Indian rupee-linked 5 year bonds. This represents ADBs third bond issue in the offshore rupee-linked market for 2017.

n++Todays fundraising represents ADBs largest single offshore Indian rupee bond issue to date,n++ said ADB Treasurer Pierre Van Peteghem. n++We have been working hard with banks and investors to promote demand for ADBs local currency bond issues, and the traction we received on this occasion bears testament to our progress in this respect.n++

The bond issue was launched in London as an Rs5 billion transaction, increased to Rs10 billion in New York and closed at Rs14 billion after accommodating Asian investors. The notes carry a semi-annual coupon of 5.90% and mature in December 2022.

The bonds, which are denominated in Indian rupees but settled in US dollars, were underwritten by HSBC and TD Securities. The final order book was almost three times the size envisaged at launch, with 84% of the bonds placed with fund managers and 16% with banks. Investors participated from all time zones, with Asia accounting for 4%, Americas 55%, and Europe 41%.

Proceeds from the bonds will be mobilized to support ADB lending in India. ADBs increased activity in the rupee capital markets is proving catalytic to the institutions local currency lending program, which has been identified as a strategic growth area in partnership with the Government of India.

ADB is a regular borrower in the mainstream international bond markets but has also led issuance in developing Asian countries as part of efforts to promote domestic bond markets as an alternative to bank lending. ADB plans to raise around $30 billion from the capital markets in 2017.

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Intellect Design Arena drops after announcing rights issue
Jul 07,2017

Meanwhile, the S&P BSE Sensex was down 8.71 points, or 0.03% at 31,360.63. The S&P BSE Small-Cap index was up 41.09 points, or 0.26% at 15,830.76.

On the BSE, 1.81 lakh shares were traded on the counter so far as against the average daily volumes of 1.11 lakh shares in the past one quarter. The stock had hit a high of Rs 128.55 and a low of Rs 121.10 so far during the day. The stock had hit a 52-week high of Rs 233 on 28 July 2016 and a 52-week low of Rs 107.75 on 15 February 2017.

The small-cap company has equity capital of Rs 50.90 crore. Face value per share is Rs 5.

Intellect Design Arena said that the companys board has approved rights issue of equity shares for upto Rs 198.97 crore in ratio of 5 rights equity shares for 22 equity shares held. The issue price is Rs 86 per share and 18 July 2017 is fixed as record date for rights issue. The rights issue will open on 26 July 2017 and close on 9 August 2017.

Intellect Design Arena reported net loss of Rs 24.93 crore in Q4 March 2017, compared with net loss of Rs 22.06 crore in Q3 December 2016. Total income rose 10.58% to Rs 144.18 crore in Q4 March 2017 over Q3 December 2016.

Intellect Design Arena is engaged in the business of software development, and providing software product license and related services.

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Solar Industries advances after bulk deal
Jul 07,2017

Meanwhile, the S&P BSE Sensex was down 11.04 points or 0.04% at 31,358.30. The S&P BSE Mid-Cap index was down 2.55 points or 0.02% at 14,944.80.

Bulk deal boosted volume on the scrip. On BSE, so far 3.78 lakh shares were traded in the counter as against average daily volume of 16,111 shares in the past one quarter. The stock hit a high of Rs 906.60 and a low of Rs 815 so far during the day. The stock had hit a record high of Rs 909 on 5 April 2017. The stock had hit a 52-week low of Rs 589.50 on 22 August 2016.

The stock had underperformed the market over the past one month till 6 July 2017, falling 0.6% compared with 0.31% rise in the Sensex. The scrip underperformed the market in past one quarter, falling 0.52% as against Sensexs 5.60% rise. The scrip, however, outperformed the market in past one year, gaining 26.50% as against Sensexs 15.32% rise.

The mid-cap company has equity capital of Rs 18.10 crore. Face value per share is Rs 2.

Solar Industries India consolidated net profit rose 26.8% to Rs 54.93 crore on 7.22% rise in total income to Rs 446.47 crore in Q4 March 2017 over Q4 March 2016.

Solar Industries India manufactures and exports civilian explosives and detonators.

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Scheme for IPR Awareness - Creative India; Innovative India launched
Jul 07,2017

Taking forward the National Intellectual Property Rights (IPR) Policy 2016, a Scheme for IPR Awareness - Creative India; Innovative India has been launched by Cell for IPR Promotion and Management (CIPAM) under the aegis of the Department of Industrial Policy and Promotion.

The Scheme aims at raising IPR awareness amongst students, youth, authors, artists, budding inventors and professionals to inspire them to create, innovate and protect their creations and inventions across India including Tier 1, Tier 2, Tier 3 cities as well as rural areas in the next 3 years.

The Scheme for IPR Awareness aims to conduct over 4000 IPR awareness workshops/seminars in academic institutions (schools and colleges) and the industry ,including MSMEs and Startups, as also IP training and sensitization programmes for enforcement agencies and the judiciary.

Workshops will cover all vital IP topics including international filing procedures, promotion of Geographical Indications and highlighting the ill effects of piracy and counterfeiting.

The Scheme for IPR Awareness would be implemented through partner organizations to promote innovation and entrepreneurship.

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