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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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Nila Infrastructures advances after securing two projects
Mar 22,2017

The announcement was made after market hours yesterday, 21 March 2017.

Meanwhile, the S&P BSE Sensex was down 202.93 points or 0.69% at 29,282.52. The BSE Small-Cap index was down 66.57 points or 0.47% at 13,961.36.

On the BSE, 15.81 lakh lakh shares were traded on the counter so far as against the average daily volumes of 4.09 lakh shares in the past one quarter. The stock had hit a high of Rs 17.35 and a low of Rs 16.80 so far during the day.

The stock had hit a record high of Rs 19.90 on 6 February 2017 and a 52-week low of Rs 10.25 on 24 June 2016. The stock had underperformed the market over the past one month till 21 March 2017, sliding 2.99% compared with the Sensexs 2.52% rise. The scrip had, however, outperformed the market over the past one quarter, rising 22.36% as against the Sensexs 12.36% rise.

The small-company has equity capital of Rs 39.34 crore. Face value per share is Rs 1.

Nila Infrastructures executed one letter of acceptance (LOA) with Gujarat State Road Transport Corporation (GSRTC) for development of Amreli Bus Terminal and another LOA is executed in consortium with Vyapti Infrabuilt for development of Modasa Bus Terminal. The companys share in this consortium is 34%.

Nila Infrastructures net profit rose 24.7% to Rs 5.61 crore on 17.7% growth in net sales to Rs 50.76 crore in Q3 December 2016 over Q3 December 2015.

Nila Infrastructures is well established player in developing civic urban infrastructure projects on engineering, procurement and construction (EPC), turnkey, public private partnership (PPP) mode, as well as private white label construction and industrial infrastructure projects.

The company also has a long track record of developing and marketing own real estate projects with varied spectrum ranging from affordable housing to luxurious housing. The company has major presence in Gujarat and has expanded footprint into Rajasthan.

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Board of Appu Marketing & Manufacturing decides to undertake due diligence of IFFSM
Mar 22,2017

Appu Marketing & Manufacturing announced that the Board of Directors of the Company at its meeting held on 21 March 2017, inter alia, considered and decided that a financial and legal Due Diligence to be undertaken of India Fast Forward Sales and Marketing (IFFSM) to acquire IFFSM.

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Board of RCL Retail appoints company secretary cum compliance officer
Mar 22,2017

RCL Retail announced that the Board of directors of the Company in their meeting held on 21 March 2017 has appointed Subodha Kanta Sahoo as Company Secretary cum Compliance Officer of the Company w.e.f. 21 March 2017

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Godawari Power & Ispat allots 24,80,000 equity shares
Mar 22,2017

Godawari Power & Ispat announced that the Committee of Board of Directors has allotted 24,80,000 equity shares of Rs 10 each at a premium of Rs 115 per share aggregating Rs 31 crore to promoters / persons acting in concert with promoters of the Company on 21 March 2017.

Consequently, the paid up capital has increased to 3,52,36,247 equity shares and promoter shareholding has increased to 67.3620%.

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Mawana Sugars moves higher on debt settlement pact with PNB
Mar 22,2017

The announcement was made after market hours yesterday, 21 March 2017.

Meanwhile, the S&P BSE Sensex was down 193.56 points or 0.66% at 29,291.89. The BSE Small-Cap index was down 71.44 points or 0.51% at 13,956.49.

On the BSE, 68,000 shares were traded on the counter so far as against the average daily volumes of 1.37 lakh shares in the past one quarter. The stock had hit a high of Rs 91.15 and a low of Rs 88.10 so far during the day.

The stock had hit a 52-week high of Rs 92.70 on 14 March 2017 and a 52-week low of Rs 22.70 on 28 March 2016. The stock had outperformed the market over the past one month till 21 March 2017, advancing 16.67% compared with the Sensexs 2.52% rise. The scrip had also outperformed the market over the past one quarter, rising 103.62% as against the Sensexs 12.36% rise.

The small-cap company has equity capital of Rs 39.12 crore. Face value per share is Rs 10.

Mawana Sugars announced that the board of directors of the company, vide resolution dated 21 March 2017, agreed to enter into one time settlement (OTS) with Punjab National Bank (PNB) Muzaffarnagar, Uttar Pradesh.

The purpose of the OTS was for resolution of non performing asset (NPA) debt. The company settled total memoranda dues of Rs 109.46 crore (as per PNB), for a consolidated agreed amount of Rs 79.79 crore, payable over 15 months without interest.

Mawana Sugars reported net profit of Rs 363.02 crore in Q3 December 2016 as against net loss of Rs 9.03 crore in Q3 December 2015. Net sales rose 48.2% to Rs 261.44 crore in Q3 December 2016 over Q3 December 2015.

Mawana Sugars in engaged in the manufacturing of some of the finest sugars in the country.

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Wockhardt gains after USFDA approval for piperacillin, tazobactam
Mar 22,2017

The announcement was made after market hours yesterday, 21 March 2017.

Meanwhile, the S&P BSE Sensex was down 170.09 points, or 0.58% to 29,315.36.

On the BSE, 54.76 lakh shares were traded in the counter so far, compared with average daily volumes of 2.37 lakh shares in the past one quarter. The stock had hit a high of Rs 746 and a low of Rs 730.50 so far during the day. The stock hit a 52-week high of Rs 1,129 on 21 July 2016. The stock hit a 52-week low of Rs 627 on 27 December 2016.

The stock had underperformed the market over the past one month till 21 March 2017, rising 1.68% compared with 2.87% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 8.37% as against Sensexs 12.36% rise.

The mid-cap company has equity capital of Rs 55.27 crore. Face value per share is Rs 5.

Wockhardt announced that abbreviated new drug application (ANDA) of piperacillin and tazobactam for Injection USP, 40.5 g/vial, pharmacy bulk package submitted by Wockhardt Bio AG, subsidiary of the company has been approved by US Food and Drug Administration (USFDA). Wockhardts Abbreviated New Drug Application (ANDA) was determined to be therapeutically equivalent to the reference listed drug (RLD) Zosyn for Injection 40.5g/vial, pharmacy bulk package of Wyeth Pharmaceuticals Inc.

Wockhardt Bio AG had filed this ANDA in collaboration with Fresinius Kabi, Italy (FKAI), where the product development was completed. The ANDA will be manufactured commercially at FKAI, Mitim, Italy.

Wockhardt reported consolidated net loss of Rs 53.91 crore in Q3 December 2016, as compared to net profit of Rs 72.04 crore in Q3 December 2015. Net sales fell 7.3% to Rs 995.56 crore in Q3 December 2016 over Q3 December 2015.

Wockhardt is a global pharmaceutical and biotechnology company.

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Foreign Exchange Earnings through Tourism in India was 12% higher in February 2017 compared with February 2016
Mar 22,2017

The highlights of the estimates of Foreign Exchange Earnings (FEEs) from tourism in India for February 2017 are as below:

Foreign Exchange Earnings (FEEs) through tourism (in Rs. terms)

n++ FEEs during the month of February 2017 were Rs. 15,260 crore as compared to Rs.13,627 crore in February 2016 and Rs.11,642 crore in February 2015.

n++ The growth rate in FEEs in rupee terms in February 2017 over February 2016 was 12.0% compared to positive growth of 17.1% in February 2016 over February 2015.

n++ FEEs during the period January- February 2017 were Rs.31,357 crore with a growth of 14.9%, as compared to the FEE of Rs. 27,296 crore with a growth of 15.0% in January- February 2016 over January- February 2015.

Foreign Exchange Earnings (FEEs) through tourism (in US $ terms)

n++ FEEs in US$ terms during the month of February 2017 were US$2.275 billion as compared to FEEs of US$ 1.996 billion during the month of February 2016 and US$ 1.877 billion in February 2015.

n++ The growth rate in FEEs in US$ terms in February 2017 over February 2016 was 14.0% compared to a positive growth of 6.3% in February 2016 over February 2015.

n++ FEEs during the period January-February 2017 were US$4.639billion with a growth of 15.2% as compared to the FEE of US$ 4.028 billion with a growth of 5.4% in January- February 2016 over January- February 2015.

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HUL in focus after commencing commercial production at Assam unit
Mar 22,2017

Hindustan Unilever (HUL) announced that it has commenced the commercial production in its new manufacturing unit at Assam on 15 March 2017. The announcement was made after market hours yesterday, 21 March 2017. The company had earlier informed about setting up new manufacturing unit in Assam to augment the production capacity of personal care products of the company.

Indiabulls Housing Finance announced that it has allotted its seventh tranche of secured, redeemable, non-convertible debentures of face value Rs 10 lakh each (NCDs) aggregating Rs 600 crore i.e. Rs 500 crore plus Greenshoe option of Rs 100 crore. The announcement was made after market hours yesterday, 21 March 2017.

Mawana Sugars announced that the board of directors of the company, vide resolution dated 21 March 2017, has agreed to enter into one time settlement (OTS) with Punjab National Bank (PNB) Muzaffarnagar, Uttar Pradesh. The purpose of the OTS was for resolution of non performing asset (NPA) debt. The company settled total memoranda dues of Rs 109.46 crores (as per PNB), for a consolidated agreed amount of Rs 79.79 crore, payable over 15 month without interest. The announcement was made after market hours yesterday, 21 March 2017.

ABC Bearings announced that it has sold its entire 2.5% equity stake in NSK-ABC Bearings Private Ltd (NABI) to NSK India Sales Company Pvt. Ltd, pursuant to the terms of a share purchase agreement dated 21st March 2017 entered into between ABC, NABI, NSK and the purchaser. The announcement was made after market hours yesterday, 21 March 2017.

Dena Bank announced that the board of directors of the bank approved raising of share capital of the bank upto an amount of Rs 800 crore. The capital will be raised by issue of shares to Government of India upto an amount of Rs 600 crore, by issue of shares to LIC of India upto an amount of Rs 180 crore and to GIC of India upto an amount of Rs 20 crore on preferential issue basis. The announcement was made after market hours yesterday, 21 March 2017.

Wockhardt announced that abbreviated new drug application (ANDA) of Piperacillin and Tazobactam for Injection USP, 40.5 g/vial, pharmacy bulk package submitted by Wockhardt Bio AG, subsidiary of the company has been approved by US Food and Drug Administration (USFDA). Wockhardts ANDA was determined to be therapeutically equivalent to the reference listed drug (RLD) Zosyn for Injection 40.5g/vial, pharmacy bulk package of Wyeth Pharmaceuticals Inc.

Wockhardt Bio AG had filed this ANDA in collaboration with Fresinius Kabi, Italy (FKAI), where the product development was completed. The ANDA will be manufactured commercially at FKAI, Mitim, Italy. The announcement was made after market hours yesterday, 21 March 2017.

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Board of Puravankara approves sale of shares in three subsidiaries
Mar 21,2017

Puravankara announced that the Board of Directors at meeting held on 21 March 2017 have passed an enabling resolution for exit from the investment of Rs.403 crores at Raidurg, Panamaktha Village which would inter-alia involve the sale of its entire shares in three wholly owned subsidiaries of Puravankara. The transaction has been authorized on a condition that total inflow should not be less than a sum of Rs.475 crore.

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United Bank of India opens QIP issue
Mar 21,2017

United Bank of India announced that the Board Level Issue Approval Committee has at its meeting held on 21 March 2017 passed the following resolutions in connection to the QIP issue -

Approving and adopting preliminary placement document dated 21 March 2017 in connection with the QIP.

Authorising the opening of QIP on 21 March 2017.

Relevant date for this purpose is 21 March 2017 and floor price for the QIP is Rs 24.44 per share, with discount of up to 5% on the floor price in the QIP.

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Board of N2N Technologies allots 161403 equity shares under scheme of amalgamation
Mar 21,2017

N2N Technologies announced that Board of Directors at its meeting held on 14 March 2017 has made allotment of 161403 equity shares of Rs.10/- each pursuant to revised Scheme of Amalgamation.

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Update on merger of Bhartiya Mahila Bank into State Bank of India
Mar 21,2017

State Bank of India announced that the entire undertaking of Bharatiya Mahila Bank shall stand transferred to and vested in the State Bank of India from 01 April 2017.

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Board of Oil India approves proposal for buyback of shares
Mar 21,2017

The Board of Directors of Oil India at its meeting held on 20 March 2017 has approved a proposal for buyback of shares of 4,49,12,000 equity shares of Rs 10 each representing 5.60% of the paid up share capital of the Company.

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Sphere Global Services provides business update
Mar 21,2017

Sphere Global Services announced that the Company along with its Indian subsidiary-Adroit Infotech has bagged work orders amounting to 10 crore for execution of :
1 Supreme Industries -S4 HANA implementation at pan India level.
2. JSW -Implementation of GST Network system, which will be used for the roll out of proposed Goods and Services at pan India level.
3. Sudarshan Chemicals -Implementation of GST Network system, which will be used for the roll out of proposed Goods and Services at pan India level.

The said orders are expected to be completed in Financial Year 2017-18. Company will be executing the order from there Indian offices. Company is confident of executing this order well within the time frame on the back of its expertise, skilled resources and its strong infrastructure. With this current order, the company gets a significant boost in the organic growth.

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ICICI Bank allots equity shares
Mar 21,2017

ICICI Bank has allotted 614,015 equity shares under ESOS on 20 March 2017.

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