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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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Board of Coastal Corporation recommends final dividend
Jun 02,2017

Coastal Corporation announced that the Board of Directors of the Company at its meeting held on 29 May 2017, inter alia, have recommended the final dividend of Rs 1.5 per equity Share (i.e. 15%) , subject to the approval of the shareholders.

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Board of Nahar Industrial Enterprises recommends final dividend
Jun 02,2017

Nahar Industrial Enterprises announced that the Board of Directors of the Company at its meeting held on 30 May 2017, inter alia, have recommended the final dividend of Rs 1 per equity Share (i.e. 10%) , subject to the approval of the shareholders.

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TVS Motor scales record high after declaring robust monthly sales
Jun 02,2017

The announcement was made after market hours yesterday, 1 June 2017.

Meanwhile, the S&P BSE Sensex was up 109.50 points, or 0.35% to 31,247.09

On the BSE, 1.69 lakh shares were traded in the counter so far, compared with average daily volumes of 91,899 shares in the past one quarter. The stock had hit a low of Rs 553 so far during the day. The stock hit a high of Rs 565 in intraday trade so far, which is record high for the counter. The stock hit a 52-week low of Rs 280.30 on 24 June 2016.

The large-cap company has equity capital of Rs 47.51 crore. Face value per share is Re 1.

TVS Motor Companys total two-wheeler sales rose 15.6% to 2.75 lakh units in May 2017 over May 2016. Scooters sales rose 30.9% to 85,681 units in May 2017 over May 2016. Motorcycles sales grew 22.3% to 1.18 lakh units in May 2017 over May 2016.

Three-wheeler sales increased 20.5% to 6,581 units May 2017 over May 2016.

Total exports rose 14.3% to 40,617 units in May 2017 over May 2016.

Net profit of TVS Motor Company declined 6.8% to Rs 126.77 crore on 1.7% rise in net sales to Rs 2844.50 crore in Q4 March 2017 over Q4 March 2016.

TVS Motor Company is a leading two and three-wheeler manufacturer, and is the flagship company of the TVS Group.

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Zydus Cadila receives USFDA approval
Jun 02,2017

Zydus Cadila has announced that it has got approval from the United States Food and Drug Administration to market Levofloxacin Injection, 500 mg/20 ml, and 750 mg/30 ml (25 mg/ml), which is used in the treatment of bacterial infections. The product will be produced at the groups formulations manufacturing facility at Moraiya, Ahmedabad.

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Bajaj Auto announces sales performance
Jun 02,2017

Bajaj Auto recorded total sales of 3,13,756 units in month of May 2017 compared to 3,07,344 units in May 2016. Total sales included domestic sales of 1,74,047 units, recording decline of 15% over May 2016. Exports declined 3% to 1,39,709 units over May 2016.

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Simplex Infrastructures to pay dividend
Jun 02,2017

The board of Simplex Infrastructures at its adjourned meeting held on 01st June 2017 has recommended dividend of Rs 0.50 per equity share of Rs 2 each fully paid up of the Company subject to approval of shareholders at the ensuing Annual General Meeting (AGM) of the Company.

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Hero MotoCorp accelerates after declaring good monthly sales
Jun 02,2017

The announcement was made after market hours yesterday, 1 June 2017.

Meanwhile, the S&P BSE Sensex was up 133.96 points, or 0.43% to 31,271.55

On the BSE, 3,300 shares were traded in the counter so far, compared with average daily volumes of 44,080 shares in the past one quarter. The stock had hit a high of Rs 3,800 and a low of Rs 3,764.05 so far during the day. The stock hit a record high of Rs 3,813.10 on 1 June 2017. The stock hit a 52-week low of Rs 2,844.40 on 17 November 2016.

The large-cap two-wheeler major has equity capital of Rs 39.94 crore. Face value per share is Rs 2.

Hero MotoCorp said that riding on sustained popular demand for its range of motorcycles and scooters, the company reported six-lakh plus unit sales in May 2017. With monsoon already hitting some parts of the country and forecast of normal rains this year, the industry is expecting a boost in demand and consumption in the rural markets, the company said. Having lined up a slew of new launches across various segments, the company is confident of maintaining the growth trajectory in the coming months, it added.

Meanwhile in a separate announcement, Hero MotoCorp yesterday, 1 June 2017, said that the company has commenced commercial production in the manufacturing facility at its subsidiary HMCL Niloy Bangladesh. This plant, located at Jessore in Bangladesh, has an installed capacity of 1.50 lakh vehicles per annum. The announcement was made after market hours yesterday, 1 June 2017.

This is Hero MotoCorp second manufacturing facility at an overseas location. The company, which has rapidly expanded to 35 countries across Asia, Africa and South and Central America, has its first overseas manufacturing plant at Vila Rica near Cali in Colombia, which became operational in 2015, it added.

Hero MotoCorps net profit fell 13.9% to Rs 717.75 crore on 7.9% decline in net sales to Rs 6915.20 crore in Q4 March 2017 over Q4 March 2016.

Hero MotoCorp is the worlds largest manufacturer of two-wheelers.

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Subscribe for Atal Pension Yojana (APY) digitally through user friendly eNPS Platform
Jun 02,2017

Pension Fund Regulatory and Development Authority (PFRDA), the administrative Authority for Atal Pension Yojana (APY) has taken several steps for extension of the benefits of the Scheme to the Citizens of India. The subscriber can enroll through internet banking without submission of physical application form. Many banks are offering this facility for their customers. Efforts are taken to completely digitize the APY enrolment. PFRDA has developed the process to offer APY enrolment through eNPS platform for wider reach. eNPS platform has been already enabled for NPS subscriptions and this user friendly platform will be expanded to make subscription under APY in a complete end to end digital environment without submission of physical form at the convenience of the customer without visiting bank or post office.

PFRDA has conducted meetings with Banks and Department of Post on 23.05.2017 & 29.05.2017 at PFRDA office, New Delhi and at Chennai respectively for the earliest roll out of the facility.

The APY service providers have been advised to develop APY@eNPS channel features before 30th June 2017.

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APY subscribers base is more than 54 Lakhs subscribers
Jun 02,2017

Pension Fund Regulatory and Development Authority (PFRDA), the administrative Authority for Atal Pension Yojana (APY) has taken several steps for extension of the benefits of the Scheme to the Citizens of India. The subscriber can enroll through internet banking without submission of physical application form. Many banks are offering this facility for their customers. Efforts are taken to completely digitize the APY enrolment. PFRDA has developed the process to offer APY enrolment through eNPS platform for wider reach. eNPS platform has been already enabled for NPS subscriptions and this user friendly platform will be expanded to make subscription under APY in a complete end to end digital environment without submission of physical form at the convenience of the customer without visiting bank or post office.

PFRDA has conducted meetings with Banks and Department of Post on 23.05.2017 & 29.05.2017 at PFRDA office, New Delhi and at Chennai respectively for the earliest roll out of the facility.

The APY service providers have been advised to develop APY@eNPS channel features before 30th June 2017.

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Jayant Agro-Organics advances on stock-split plan
Jun 02,2017

The announcement was made before market hours today, 2 June 2017.

Meanwhile, the S&P BSE Sensex was up 170.61 points or 0.55% at 31,308.20. The S&P BSE Small-Cap index was up 90.06 points or 0.59% at 15,324.30.

On BSE, so far 732 shares were traded in the counter as against average daily volume of 12,105 shares in the past one quarter. The stock hit a high of Rs 950 and a low of Rs 936.30 so far during the day. The stock had hit a 52-week low of Rs 184 on 10 June 2016. The stock had hit a record high of Rs 1,019 on 8 May 2017.

The small-cap company has equity capital of Rs 7.50 crore. Face value per share is Rs 5.

Jayant Agro-Organics consolidated net profit surged 94.88% to Rs 15.59 crore on 13.93% growth in total income to Rs 426.97 crore in Q4 March 2017 over Q4 March 2016.

Jayant Agro-Organics is an emerging global oleochemical company with leadership in the castor-based specialty chemicals industry.

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Hero MotoCorp in focus after declaring monthly sales
Jun 02,2017

Hero MotoCorp (HMCL) said its total two-wheeler sales grew 8.7% to 6.33 lakh units in May 2017 over May 2016. The announcement was made after market hours yesterday, 1 June 2017.

With monsoon already hitting some parts of the country, and forecast of normal rains this year, the industry is expecting a boost in demand and consumption in the rural markets. Having lined up a slew of new launches across various segments, the company is confident of maintaining the growth trajectory in the coming months.

Meanwhile, HMCL commenced commercial production yesterday, 1 June 2017, in the manufacturing facility at its subsidiary HMCL Niloy Bangladesh. This plant, located at Jessore in Bangladesh, has an installed capacity of 1.50 lakh vehicles per annum.

Bharti Airtel announced that it has received the approval of the Securities and Exchange Board of India (Sebi), BSE and National Stock Exchange of India (NSE) for the proposed Scheme of merger between Airtel and Telenor (India) Communications. The announcement was made after market hours yesterday, 1 June 2017.

Bharti Airtel further stated that Telenor India and Airtel have filed the joint company application before the New Delhi Bench of the National Company Law Tribunal for approval of the proposed Scheme of merger. The merger is inter alia subject to other statutory approvals including from the Competition Commission of India.

Airtel had earlier announced (in February 2017) that it had entered into a definitive agreement with Telenor South Asia Investments Pte Ltd (Telenor). As part Of the Scheme, Airtel will acquire Telenor Indias running operations in seven circles - Andhra Pradesh, Bihar, Maharashtra, Gujarat, UP (East), UP (West) and Assam. These circles represent a high population concentration and therefore offer a high potential for growth.

The proposed acquisition will include transfer of all of Telenor Indias assets and customers, further augmenting Airtels overall customer base and network. It will also enable Airtel to further bolster its strong spectrum foot-print in these seven circles, with the addition of 43.4 MHz spectrum in the 1800 MHz band.

Coal India announced that the company and its subsidiaries achieved 92% of targeted production at 40.74 million tonnes in May 2017. The company achieved 91% of targeted offtake at 46.41 million tonnes in May 2017. The announcement was made after market hours yesterday, 1 June 2017.

TVS Motor Companys total sales rose 16% to 2.82 lakh units in May 2017 over May 2016. The announcement was made after market hours yesterday, 1 June 2017.

Hindustan Copper announced after market hours yesterday, 1 June 2017, that it inaugurated Banwas Mine located at Khetri Copper Complex, Rajasthan after completion of mine construction. The production capacity of the mine is 6 lakh tonne per annum of copper ore. The production will start from current financial year.

Jayant Agro Organics scheduled a board meeting on 16 June 2017, to consider stock-split proposal. The announcement was made before market hours today, 2 June 2017.

Bayer CropScience announced after market hours yesterday, 1 June 2017, that its board will meet on 6 June 2017, to consider a proposal for buyback of the companys equity shares, constitution of buyback committee, and appointment of intermediaries in accordance with all applicable provisions of laws.

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Hong Kong Stocks end at 23-month high
Jun 01,2017

The Hong Kong stock market finished session at a 23-month high on Thursday, 01 June 2017, with property shares being major gainers as Chinese money flowed steadily into the citys market. But market gains were capped after a private survey showing Chinas manufacturing activity contracted in May for the first time in 11 months. The Hang Seng index ended up 0.6% at 25,809.22, which marked a 23-month high, while the China Enterprises Index gained 0.2%, to 10,619.88 points. The Hang Seng Index ended up 148 points or 0.6% to 25,809. The H-share index rose 16 points or 0.2% to 10,619. Turnover decreased to HK$84.6 billion from HK$110.5 billion on Wednesday.

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China Stocks fall 0.5%
Jun 01,2017

China stock market closed down on Thursday, 01 June 2017, as sellers overwhelmed buyers after a private business survey showed manufacturing activity unexpectedly contracted in May, fuelling worries that the economy may be cooling more rapidly than expected. The blue-chip CSI300 index finished 0.1 per cent higher at 3,497.74 points, while the Shanghai Composite Index lost 0.5 per cent to 3,102.62 points.

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Australia Stocks gain for third day
Jun 01,2017

Australian equity market ended stronger for third straight session on Thursday, 01 June 2017, as a rise in healthcare and utility stocks outweighed declines in commodity-driven resources and consumer stocks. The S&P/ASX 200 index rose 0.2 per cent to 5,738.10.

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eClerx Services consolidated net profit declines 25.56% in the March 2017 quarter
Jun 01,2017

Net profit of eClerx Services declined 25.56% to Rs 74.81 crore in the quarter ended March 2017 as against Rs 100.50 crore during the previous quarter ended March 2016. Sales declined 3.40% to Rs 331.51 crore in the quarter ended March 2017 as against Rs 343.18 crore during the previous quarter ended March 2016.

For the full year,net profit rose 3.57% to Rs 353.93 crore in the year ended March 2017 as against Rs 341.74 crore during the previous year ended March 2016. Sales rose 1.20% to Rs 1330.03 crore in the year ended March 2017 as against Rs 1314.32 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales331.51343.18 -3 1330.031314.32 1 OPM %30.8539.45 -34.5436.51 - PBDT104.33142.65 -27 487.63516.78 -6 PBT90.67127.27 -29 435.83460.24 -5 NP74.81100.50 -26 353.93341.74 4

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