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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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Lupin allots 46911 equity shares
Mar 24,2017

Lupin has allotted 46911 fully paid up equity shares of Rs. 2/- each. These shares have been allotted upon exercising of options granted to the employees under Stock option plans of the Company. In view of the above, the issued and paid up capital of the Company has been increased to Rs. 90,31,53,738 consisting 45,15,76,869 equity shares of Rs. 2/- each.

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Bharat Electronics to hold board meeting
Mar 24,2017

Bharat Electronics will hold a meeting of the Board of Directors of the Company on 24 March 2017.

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Nova Publications India to hold board meeting
Mar 24,2017

Nova Publications India will hold a meeting of the Board of Directors of the Company on 24 March 2017.

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US stocks close slightly lower
Mar 24,2017

U.S. stocks closed slightly lower on Thursday, 23 March 2017 with the Dow edging into negative territory to extending its losing streak to six sessions as a delay in a closely watched health-care vote raised questions about the Trump administrations ability to win passage of its ambitious legislative agenda. Trading was volatile, with major indexes at one point posting solid gains, but then turning lower ahead of the close after House Republican leaders delayed a vote to replace the Affordable Care Act.

The Dow Jones Industrial Average ended with a loss of 4.72 points at 20,656.58, posting its sixth straight negative session. The S&P 500 index fell 2.49 points to end at 2,345.96, a loss of 0.1%. The Nasdaq Composite Index slid 3.95 points to end at 5,817.69, a decline of less than 0.1%.

The days losses were broad, with seven of the 11 primary S&P 500 sectors ending lower. Health care was among the biggest losers, down about 0.4%.

In economic data, first-time jobless claims unexpectedly rose in the latest week, hitting a two-month high.

Among stocks under focus, Ford Motor fell 0.9% after it gave a first-quarter earnings outlook that was below expectations. Apple fell 0.4% after a report that it had acquired Workflow, a popular mobile app for automating tasks, TechCrunch reported on Wednesday.

Concerns about President Trumps ability to quickly push through pro-growth policies, promised during his presidential campaign, have helped diminish demand for assets considered risky. The next big test for markets comes with an expected late-Thursday vote on health-care reform.

The dollar, as measured by the ICE U.S. Dollar Index has lost roughly 0.5% so far this week, but was up 0.1% on Thursday. Shakiness in the buck has provided some path for dollar-priced assets to rise, as softening in the currency makes commodities priced in greenbacks more attractive to buyers using other monetary units.

Bullion prices ended mixed at Comex on Thursday, 23 March 2017. Gold futures settled lower on Thursday, ending a run of five straight daily gains, after a sharp slump in global equities and weakness in the U.S. dollar.

U.S. stocks were confined to tighter ranges on Thursday and equities markets overseas finished mostly higher, which cut some of the aggressive demand for gold as a short-term refuge amid a risk-off market sentiment shift. The battered dollar also improved on Thursday.

April gold fell $2.50, or 0.2%, to settle at $1,247.20 an ounce. May silver rose 1.5 cents, or 0.1%, to end at $17.593 an ounce.

Crude oil prices extended their streak of losses on Thursday, 23 March 2017 as traders focused on the persistent oversupply of crude in the global market that has weighed on prices in recent years. The record in U.S. stockpiles of crude oil reported on Wednesday fed concerns over a global glut of supplies, despite expectations that U.S. demand for gasoline is set to grow in the run up to the summer driving season.

May West Texas Intermediate crude lost 34 cents, or 0.7%, to settle at $47.70 a barrel on the New York Mercantile Exchange. May Brent crude fell 8 cents, or 0.2%, to $50.56 a barrel on Londons ICE Futures exchange.

In the Treasury market, U.S. sovereign debt finished flat with the benchmark 10-yr yield closing unchanged at 2.41%.

Fridays lone economic report, February Durable Orders (consensus +1.3%), will cross the wires at 8:30 ET.

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Rs. 503.28 Crores spent during 2013-14 to 2015-16 under Early Childhood Care and Education Policy
Mar 24,2017

The aim of Early Childhood Care and Education policy is to achieve holistic development and active learning capacity of all children below 6 years of age by promoting free, universal, inclusive, equitable, joyful and contextualised opportunities for laying foundation and attaining full potential. A total of 3.4 Crores children of 3-6 year age group are availing benefits of Pre-School education including 1.7 Crore boys and 1.7 Crore girls. A total amount of Rs. 503.28 Crores has been spent during the year 2013-14 to year 2015-16.

Year wise details of amount spent under Early Childhood Care and Education Policy:

2013-14: Rs 145.32 crore

2014-15: Rs 231.95 crore

2015-16: Rs 126.01 crore

The key areas of the Policy are as below:

i. Access with equity and inclusion in programmes and interventions across service providers;

ii. Improving quality, Strengthening Capacity, Monitoring and Supervision

iii. Research and Documentation

iv. Advocacy and awareness generation

v. Convergence and Coordination among policies and programmes

vi. Institutional and Implementation Arrangements

vii. Partnerships, Periodic Review and Increased investment towards ECCE

Under the National Early Childhood Care and Education (ECCE) Policy the States/UTs are required to introduce Annual Contextualized Curriculum along with Pre-School Education (PSE) kit by aligning to the curriculum, activity books and celebrate ECCE day on monthly basis.

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Majesco advances after securing contract
Mar 24,2017

The announcement was made after market hours yesterday, 23 March 2017.

Meanwhile, the S&P BSE Sensex was up 128.33 points or 0.44% at 29,460.49.

On the BSE, 29,000 shares were traded on the counter so far as against the average daily volumes of 17,250 shares in the past one quarter. The stock had hit a high of Rs 364 and a low of Rs 345.95 so far during the day.

The stock had hit a 52-week high of Rs 650 on 21 April 2016 and a 52-week low of Rs 331 on 15 February 2017. The stock had underperformed the market over the past one month till 23 March 2017, sliding 1.6% compared with the Sensexs 1.52% rise. The scrip had also underperformed the market over the past one quarter, declining 11.58% as against the Sensexs 12.64% rise.

The small-cap company has equity capital of Rs 11.68 crore. Face value per share is Rs 5.

Majesco announced that a tier one insurer has selected the company following an extensive evaluation as their strategic partner for the multi-year modernization program.

As a part of the agreement, the insurer will leverage Majescos enterprise consulting services and the business transformation framework, application development & management services and the technical reference architecture, and testing services with the automation test framework and testing repository to support the vision laid out by the company for their underwriting and policy platform.

Majescos consolidated net profit fell 2.68% to Rs 5.07 crore on 2.3% decline in net sales to Rs 202.26 crore in Q3 December 2016 over Q2 September 2016.

Majesco enables insurance business transformation for insurance customers worldwide by providing solutions which include software, consulting and services.

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Ujaas Energy jumps after securing order
Mar 24,2017

The announcement was made after market hours yesterday, 23 March 2017.

Meanwhile, the S&P Sensex was up 130.36 points or 0.46% at 29,468.22. The S&P BSE Small-cap index was up 104.22 points, or 0.74% at 14,132.16.

On the BSE, 3.24 lakh shares were traded on the counter so far as against the average daily volumes of 5.09 lakh shares in the past one quarter. The stock had hit a high of Rs 36.30 and a low of Rs 35.15 so far during the day.

The stock had hit a record high of Rs 52.25 on 16 December 2016 and a 52-week low of Rs 19.40 on 29 September 2016. The stock had underperformed the market over the past one month till 23 March 2017, declining 4.54% compared with the Sensexs 1.52% rise. The scrip had also underperformed the market over the past one quarter declining 26.21% as against the Sensexs 12.64% rise.

The small-cap company has equity capital of Rs 20 crore. Face value per share is Rs 1.

Ujaas Energy said that it has received an order from Indraprastha Power Generation Co. (IPGSL) for implementation of grid connected rooftop solar photo voltaic (PV) system of 669 kilowatt peak (KWP) under capex model in selected GNCTD schools & schools & government buildings in Delhi.

Ujaas Energys net profit surged 266.5% to Rs 8.54 crore on 113.8% growth in net sales to Rs 97.66 crore in Q3 December 2016 over Q3 December 2015.

Ujaas Energy is engaged in the design of various products and solutions for producing clean energy.

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Mixed finish for precious metals
Mar 24,2017

Bullion prices ended mixed at Comex on Thursday, 23 March 2017. Gold futures settled lower on Thursday, ending a run of five straight daily gains, after a sharp slump in global equities and weakness in the U.S. dollar.

U.S. stocks were confined to tighter ranges on Thursday and equities markets overseas finished mostly higher, which cut some of the aggressive demand for gold as a short-term refuge amid a risk-off market sentiment shift. The battered dollar also improved on Thursday.

April gold fell $2.50, or 0.2%, to settle at $1,247.20 an ounce. May silver rose 1.5 cents, or 0.1%, to end at $17.593 an ounce.

Concerns about President Trumps ability to quickly push through pro-growth policies, promised during his presidential campaign, have helped diminish demand for assets considered risky. The next big test for markets comes with an expected late-Thursday vote on health-care reform.

The dollar, as measured by the ICE U.S. Dollar Index has lost roughly 0.5% so far this week, but was up 0.1% on Thursday. Shakiness in the buck has provided some path for dollar-priced assets to rise, as softening in the currency makes commodities priced in greenbacks more attractive to buyers using other monetary units.

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NHPC firms up after inking PPA with Tata Power - Delhi Distribution
Mar 24,2017

The announcement was made after maket hours yesterday, 23 March 2017.

Meanwhile, the S&P BSE Sensex was up 137.10 points, or 0.47% to 29,469.26.

On the BSE, 2.20 lakh shares were traded in the counter so far, compared with average daily volumes of 10.26 lakh shares in the past one quarter. The stock had hit a high of Rs 30.70 and a low of Rs 30.20 so far during the day.

The stock hit a 52-week high of Rs 31.75 on 7 February 2017. The stock hit a 52-week low of Rs 20.45 on 4 May 2016.

The stock had underperformed the market over the past one month till 23 March 2017, falling 0.99% compared with 1.62% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 14.50% as against Sensexs 12.64% rise.

The large-cap company has equity capital of Rs 11070.67 crore. Face value per share is Rs 10.

NHPC said it signed power purchase agreements with Tata Power- Delhi Distribution on 22 March 2017 for seven power stations, namely Bairasiul, Salal, Tanakpur, Chamera-I, Uri-I, Sewa-II and Chamera-III for a period of 35 years from the date of commercial operations (COD) of the respective power stations.

NHPCs net profit rose 25.87% to Rs 214.69 crore on 3.41% fall in net sales to Rs 1298.35 crore in Q3 December 2016 over Q3 December 2015.

NHPC is Indias premier hydropower company. Government of India (GoI) currently holds 74.51% stake in NHPC (as per the shareholding pattern as on 31 December 2016).

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Board of Murudeshwar Ceramics allots equity shares and convertible warrants to Murudeshwar Power Corporation
Mar 24,2017

Murudeshwar Ceramics announced that the Board of Directors of the company at its meeting held on 24 March 2017 have allotted 21,40,000 equity shares and 46,20,000 convertible share warrants on preferential basis to Murudeshwar Power Corporation, a promoter/ promoter group company.

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Tata Motors to raise up to Rs 500 crore
Mar 24,2017

Tata Motors announced that at the Committee Meeting of Board of Directors of the Company has approved offer for subscription, on private placement basis, up to 5,000 Rated, Listed, Unsecured, 7.84% Coupon, Redeemable, Non-Convertible Debentures of face value of Rs 10 lakh each aggregating up to Rs 500 crore.

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Prime Securities to hold board meeting
Mar 24,2017

Prime Securities will hold a meeting of the Board of Directors of the Company on 6 April 2017.

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Skipper secures contracts worth Rs 405 crore
Mar 24,2017

Skipper has secured contracts worth Rs.405 crore approx for supply of Transmission Towers to the projects of Power Grid Corporation of India (PGCIL), Transmission Corporation of Telengana (TSTRANSCO) and Power Transmission Corporation of Uttrakhand (PTCUL)

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Zuari Agro Chemicals gains after acquiring shares of Nagarjuna Fertilizers
Mar 24,2017

The announcement was made after maket hours yesterday, 23 March 2017.

Meanwhile, the S&P BSE Sensex was up 136.66 points, or 0.47% to 29,468.82.

On the BSE, 2,222 shares were traded in the counter so far, compared with average daily volumes of 57,712 shares in the past one quarter. The stock had hit a high of Rs 336.80 and a low of Rs 331 so far during the day.

The stock hit a 52-week high of Rs 383.40 on 25 January 2017. The stock hit a 52-week low of Rs 134 on 29 March 2016.

The stock had underperformed the market over the past one month till 23 March 2017, falling 1.38% compared with 1.62% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 39.08% as against Sensexs 12.64% rise.

The small-cap company has equity capital of Rs 42.06 crore. Face value per share is Rs 10.

Zuari Agro Chemicals said that the all-cash deal was struck at Rs 16.10 per share, aggregating to Rs 51.95 crore.

Net profit of Zuari Agro Chemicals rose 3900% to Rs 22.40 crore on 14.86% decline in net sales to Rs 945.74 crore in Q3 December 2016 ovber Q3 December 2015.

Zuari Agro Chemicals is one of the leading fertilizer conglomerates in India. The company produces high-quality complex fertilizers of various grades along with seeds, pesticides, micro nutrients, and specialty fertilizers.

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Zuari Agro gains after acquiring shares of Nagarjuna Fertilizers
Mar 24,2017

The announcement was made after maket hours yesterday, 23 March 2017.

Meanwhile, the S&P BSE Sensex was up 136.66 points, or 0.47% to 29,468.82.

On the BSE, 2,222 shares were traded in the counter so far, compared with average daily volumes of 57,712 shares in the past one quarter. The stock had hit a high of Rs 336.80 and a low of Rs 331 so far during the day.

The stock hit a 52-week high of Rs 383.40 on 25 January 2017. The stock hit a 52-week low of Rs 134 on 29 March 2016.

The stock had underperformed the market over the past one month till 23 March 2017, falling 1.38% compared with 1.62% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 39.08% as against Sensexs 12.64% rise.

The small-cap company has equity capital of Rs 42.06 crore. Face value per share is Rs 10.

Zuari Agro Chemicals said that the all-cash deal was struck at Rs 16.10 per share, aggregating to Rs 51.95 crore.

Net profit of Zuari Agro Chemicals rose 3900% to Rs 22.40 crore on 14.86% decline in net sales to Rs 945.74 crore in Q3 December 2016 ovber Q3 December 2015.

Zuari Agro Chemicals is one of the leading fertilizer conglomerates in India. The company produces high-quality complex fertilizers of various grades along with seeds, pesticides, micro nutrients, and specialty fertilizers.

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