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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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Goldstone Infratech extends rally
Feb 28,2017

Meanwhile, the S&P BSE Sensex was up 31.68 points or 0.11% at 28,844.56.

On the BSE, 6,170 shares were traded on the counter so far as against the average daily volumes of 52,171 shares in the past one quarter. The stock opened with an upward gap of 5% and remained locked at that level at Rs 50.20 so far during the day.

The stock had hit a 52-week high of Rs 51.50 on 21 February 2017 and a 52-week low of Rs 15.45 on 28 March 2016. It had outperformed the market over the past one month till 27 February 2017, surging 48.6% compared with the Sensexs 3.34% rise. The scrip had also outperformed the market over the past one quarter, advancing 77.88% as against the Sensexs 9.49% rise.

The small-cap company has equity capital of Rs 14.43 crore. Face value per share is Rs 4.

Shares of Goldstone Infratech have rallied 10.1% in two trading sessions from its closing of Rs 45.60 on 23 February 2017, after the company during market hours yesterday, 27 February 2017, said it had secured its second order for supply of 25 pure electric buses to Himachal Road Transport Corporation, Shimla. The stock settled by surging to its maximum permissible level of 5% at Rs 47.85 yesterday, 27 February 2017.

Goldstone Infratech announced that it had bagged its second order for supply of twenty five pure electric buses to Himachal Road Transport Corporation (HRTC), Shimla, at a price of Rs 47.75 crore excluding AMC charges.

Goldstone had successfully completed trials of Midi electric bus in Manali-Rohtang pass. Goldstone shall be assembling these buses in India in tie up with BYD Auto, China. The bus will be designed in India and the bus body shall be fully built in India, the company said.

Goldstone Infratech had received its first order for supply of six pure electric buses to Brihan Mumbai Electricity Supply and Transport (BEST) undertaking, Mumbai.

Goldstone Infratechs net profit rose 35.6% to Rs 1.18 crore on 29.7% growth in net sales to Rs 23.35 crore in Q3 December 2016 over Q3 December 2015.

Goldstone Infratech is one of leading manufacturers for silicone rubber insulators for power transmission and distribution networks and supplies to large transmission & distribution companies and railways/metro rails in India and overseas.

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Varun Beverages advances after raising funds through NCDs
Feb 28,2017

The announcement was made after market hours yesterday, 27 February 2017.

Meanwhile, the S&P BSE Sensex was down 2.95 points or 0.01% to settle at 28,809.93.

On the BSE, 1,413 shares were traded on the counter so far as against the average daily volumes of 5,725 shares in the past one quarter. The stock had hit a high of Rs 400.40 and a low of Rs 398.50 so far during the day. The stock had hit a record high of Rs 471 on 8 November 2016, the day on which companys shares were listed on the bourses. The stock had hit a record low of Rs 305 on 26 December 2016.

The stock had underperformed the market over the past one month till 27 February 2017, falling 1.43% compared with the Sensexs 3.34% rise. The scrip had also underperformed the market over the past one quarter, declining 10.07% as against the Sensexs 9.49% rise.

The mid-cap company has equity capital of Rs 102.31 crore. Face value per share is Rs 10.

Varun Beverages raised Rs 300 crore by issue of non-convertible debentures (NCDs) and allotted 1,500 NCDs of Rs 10 lakh each to RBL Bank and 1,500 NCDs of Rs 10 lakh each to Kotak Mahindra Bank on private placement basis.

The allotment committee constituted by board of directors of the company vide resolution passed on 27 February 2017, had approved the allotment of secured, rated, listed, redeemable, non-convertible debentures.

Shares of Varun Beverages were listed on the bourses on 8 November 2016.

On a consolidated basis, Varun Beverages reported net loss of Rs 90.61 crore in Q4 December 2016 compared with net loss of Rs 98.75 crore in Q4 March 2015. Net sales rose 9.3% to Rs 420.06 crore in Q4 December 2016 over Q4 December 2015.

Promoted by Ravi Kant Jaipuria, Varun Beverages is one of the largest franchisee in the world (outside USA) of carbonated soft drinks (CSD) and noncarbonated beverages (NCB) sold under trademarks owned by PepsiCo. It produces and distributes a wide range of CSD as well as a large selection of NCB including packaged drinking water.

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Fraser & Company to hold board meeting
Feb 28,2017

Fraser & Company will hold a meeting of the Board of Directors of the Company on 7 March 2017.

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Board of Merck recommends final dividend
Feb 28,2017

Merck announced that the Board of Directors of the Company at its meeting held on 27 February 2017, inter alia, have recommended the final dividend of Rs 11 per equity Share (i.e. 110%) , subject to the approval of the shareholders.

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Supreme Infrastructure India to hold board meeting
Feb 28,2017

Supreme Infrastructure India will hold a meeting of the Board of Directors of the Company on 2 March 2017.

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Board of Sanofi India recommends final dividend
Feb 28,2017

Sanofi India announced that the Board of Directors of the Company at its meeting held on 27 February 2017, inter alia, have recommended the final dividend of Rs 50 per equity Share (i.e. 500%) , subject to the approval of the shareholders.

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Sanofi India to hold AGM
Feb 28,2017

Sanofi India announced that the Annual General Meeting (AGM) of the company will be held on 5 May 2017.

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Siti Networks allots 777,71,428 equity shares
Feb 28,2017

Siti Networks announced that the Allotment Committee at its meeting held on 27 February 2017 has allotted 571,42,857 equity shares on conversion of warrants at an issue price of Rs 35 per share to Arrow Media & Broadband. Further, approved allotment of 206,28,571 equity shares on conversion of Optionally Fully Convertible Debentures at an issue price of Rs 35 per equity share to Digital Satellite Media & Broadband.

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G-Tech Info Training announces change in directorate
Feb 28,2017

G-Tech Info Training has appointed Rahul Sudhakar Ahire and Gautam Kalu Mohite as Additional Director on the Board of Directors of the Company w.e.f. 09 February 2017, to hold office upto the date of the ensuing Annual General Meeting of the Company.

Further, the Company has accepted the resignation of Deepak Suresh Jambodaker, Ganesh Shankar Budbadkar and Rajesh Dinkar Jadhav and his cessation will be effective from 09 February 2017.

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Transformers and Rectifiers gains after bagging order
Feb 28,2017

The announcement was made after market hours yesterday, 27 February 2017.

Meanwhile, the BSE Sensex was up 30.96 points, or 0.11%, to 28,843.84.

On the BSE, 2,524 shares were traded in the counter so far, compared with average daily volume of 12,792 shares in the past one quarter. The stock had hit a high of Rs 405.50 and a low of Rs 398.40 so far during the day. The stock had hit a 52-week high of Rs 471.85 on 20 January 2017. The stock had hit a 52-week low of Rs 196 on 29 February 2016.

Transformers and Rectifiers (India) (TRIL) said that it has bagged an order for supplying 39 transformers and reactors amounting to Rs 153 crore from Gujarat Energy Transmission Corporation (GETCO).

The order falls under the normal course of business. With the latest order, the companys order book now stands at around Rs 1020 crore.

TRIL manufactures a wide range of transformers for the domestic and the international market.

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Crompton Greaves renamed as CG Power and Industrial Solutions
Feb 28,2017

Crompton Greaves announced that the Registrar of Companies, Mumbai has issued a fresh certificate of incorporation dated 27 February 2017 consequent to change in company name to CG Power and Industrial Solutions. The Company has made alteration of Memorandum of Association and Articles of Association consequent to change of Company name.

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Sambhaav Media wins FM Radio Channels for 13 cities in Gujarat and Jammu & Kashmir
Feb 28,2017

Sambhaav Media announced that the Company has won FM Radio Channels for 13 cities of Gujarat and Jammu & Kashmir through e-auctions of second batch of private FM radio phase -III Channels.

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Hindustan Unilever allots 29,117 equity shares
Feb 28,2017

Hindustan Unilever announced that the Committee of the Board in its Meeting held on 27 February 2017, has allotted 29,117 Equity Shares of Re. 1/- each under ESOP, which vide Shareholders Resolution dated 29 May 2006 is known as n++2006 HLL Performance Share Schemen++, further amended vide Shareholders Resolution dated 23rd July, 2012 is known as n++2012 HUL Performance Share Scheme.n++

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SREI Infrastructure Finance allots NCDs aggregating Rs 335.17 cr
Feb 28,2017

SREI Infrastructure Finance has allotted 33,51,778 NCDs, aggregating to Rs. 335.17 crore on 27 February 2017.

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Vedanta wins two awards for best practice in international financial reporting
Feb 28,2017

The Annual Reports of Vedanta and Vedanta Resources Plc won Platinum and Gold, in the Material and Energy - Equipment & Services category respectively, at the LACP Vision Awards 2016. The awards recognise best practice in international financial reporting.

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