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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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Vatsa Educations to consider December quarter results
Jan 23,2017

Vatsa Educations announced that the meeting of the Board of the Directors of the company is scheduled to be held on 02 February 2017 for approving the unaudited Financial Results for the quarter ended 31 December 2016.

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Database Finance to announce December quarter results
Jan 23,2017

Database Finance announced that the meeting of the Board of the Directors of the Company is scheduled to be held on 03 February 2017, for approving the unaudited Financial Results for the quarter ended 31 December 2016.

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Vatsa Corporations to consider December quarter results
Jan 23,2017

Vatsa Corporations announced that the meeting of the Board of the Directors of the company is scheduled to be held on 05 February 2017 for approving the unaudited Financial Results for the quarter ended 31 December 2016.

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Board of Lila Worldwide to consider December quarter results
Jan 23,2017

Lila Worldwide announced that the meeting of the Board of the Directors of the Company is scheduled to be held on 04 February 2017 for approving the unaudited Financial Results for the quarter ended 31 December 2016.

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Board of Jagran Production to consider December quarter results
Jan 23,2017

Jagran Production announced that the Board of Director of the Company will meet on 09 February 2017 to consider following matters:

1. To consider and take on record, inter alia, the Unaudited Financial Results for the quarter ended 31 December 2016

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Board of Indian Hume Pipe Company to consider Q3 results and interim dividend
Jan 23,2017

Indian Hume Pipe Company announced that a meeting of the Board of Directors of the Company will be held on 08 February 2017, inter alia, to consider:

1. Unaudited Quarterly Financial Results for the 3rd quarter ended 31 December 2016.

2. Declaration of Interim Dividend for the Financial Year 2016-17.

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Indian Hume Pipe Company fixes record date for interim dividend
Jan 23,2017

Indian Hume Pipe Company has fixed 16 February 2017 as the Record Date for the purpose of Payment of Interim Dividend.

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Board of Suven Life Sciences to consider Q3 results and declaration of interim dividend
Jan 23,2017

Suven Life Sciences announced that a Board Meeting of the Company will be held on 01 February 2017, inter alia, to consider and take on record the following matter(s):

1. To consider and approve the Un-audited Financial Results of the Company under Ind AS for the quarter and nine months ended 31 December 2016

2. To consider declaration of Interim Dividend, if any, for the financial year 2016-17 and related matters etc. and

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Board of Rane (Madras) declares interim dividend
Jan 23,2017

Rane (Madras) announced that the Board of Directors of the Company at its meeting held on 23 January 2017, inter alia, has declared an interim dividend of Rs. 2/- per equity share of Rs. 10/- each.

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United Spirits leads gainers in A group
Jan 23,2017

United Spirits jumped 4.18% to Rs 2,164.95 at 13:19 IST after net profit jumped 296.72% to Rs 147.70 crore on 6.77% growth in total income to Rs 7117.79 crore in Q3 December 2016 over Q3 December 2015. The result was announced on Saturday, 21 January 2017. The stock topped the gainers in the BSEs A group. On the BSE, 1.63 lakh shares were traded on the counter so far as against the average daily volumes of 79,000 shares in the past two weeks.

Hindalco Industries surged 3.27% at Rs 177.05. The stock was second biggest gainer in A group. On the BSE, 10.51 lakh shares were traded on the counter so far as against the average daily volumes of 14.12 lakh shares in the past two weeks.

SREI Infrastructure Finance advanced 3.26% to Rs 85.60. The stock was third biggest gainer in A group. On the BSE, 93,000 shares were traded on the counter so far as against the average daily volumes of 2.80 lakh shares in the past two weeks.

IL&FS Transportation Networks gained 3.17% at Rs 112.30. The stock was fourth biggest gainer in A group. On the BSE, 86,000 shares were traded on the counter so far as against the average daily volumes of 1.97 lakh shares in the past two weeks.

BEML rose 2.96% to Rs 1,192.95. The stock was fifth biggest gainer in A group. On the BSE, 88,000 shares were traded on the counter so far as against the average daily volumes of 2.50 lakh shares in the past two weeks.

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Volumes jump at JK Agri Genetics counter
Jan 23,2017

JK Agri Genetics clocked volume of 1.72 lakh shares by 12:30 IST on BSE, a 266.33-times surge over two-week average daily volume of 647 shares. The stock fell 5.05% to Rs 545.

Gujarat Fluorochemicals notched up volume of 1.25 lakh shares, a 82.38-fold surge over two-week average daily volume of 1,519 shares. The stock rose 1.31% to Rs 481.05.

Deepak Fertilisers & Petrochemicals Corporation saw volume of 12.08 lakh shares, a 16.14-fold surge over two-week average daily volume of 75,000 shares. The stock rose 2.75% to Rs 269.25.

Hero MotoCorp clocked volume of 1.10 lakh shares, a 5.80-fold surge over two-week average daily volume of 19,000 shares. The stock rose 0.64% to Rs 3,076.10.

HOV Services saw volume of 4.45 lakh shares, a 4.30-fold rise over two-week average daily volume of 1.03 lakh shares. The stock rose 15.82% to Rs 159.60.

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Lupin gains after US drug regulator nod for generic drug
Jan 23,2017

The announcement was made during market hours today, 23 January 2017.

Meanwhile, the S&P BSE Sensex was up 45.99 points or 0.17% at 27,080.49.

On the BSE, 25,000 shares were traded on the counter so far as against the average daily volumes of 78,942 shares in the past one quarter. The stock had hit a high of Rs 1,494 and a low of Rs 1,450.75 so far during the day.

The stock had hit a 52-week high of Rs 1,911.55 on 9 February 2016 and a 52-week low of Rs 1,294.05 on 29 March 2016. The stock had underperformed the market over the past one month till 20 January 2017, advancing 0.88% compared with the Sensexs 2.76% rise. The scrip had, however, outperformed the market over the past one quarter, sliding 2.66% as against the Sensexs 3.89% fall.

The large-cap company has equity capital of Rs 90.30 crore. Face value per share is Rs 2.

Lupin announced that it has received final approval from the United States Food and Drug Administration (USFDA), for its Paroxetin extended release tablets USP, 12.5 mg, 25 mg and 37.5 mg to market a generic version of Apotex Technologies, Incs Paxil CR tablets,12.5 mg, 25 mg and 37.5 mg. Lupin shall commence promoting the product shortly.

Paxil CR tablets are indicated for the treatment of major depressive disorder, panic disorder, social anxiety disorder and premenstrual dysphoric disorder.

Paxil CR tablets had US sales of $127.7 million as per IMS MAT September 2016 data.

Lupins consolidated net profit rose 57.8% to Rs 662.19 crore on 31.9% rise in net sales to Rs 4211.18 crore in Q2 September 2016 over Q2 September 2015. The company is scheduled to announce Q3 December 2016 results on 9 February 2017.

Lupin is an innovation led transnational pharmaceutical company developing and delivering a wide range of branded & generic formulations, biotechnology products and APIs globally. The company is a significant player in the cardiovascular, diabetology, asthma, pediatric, CNS, GI, anti-infective and NSAID space and holds global leadership position in the anti-TB segment.

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Rane Brake Lining advances after reporting decent Q3 results
Jan 23,2017

The result was announced after market hours on Friday, 20 January 2017.

Meanwhile, the BSE Sensex was up 83.51 points, or 0.31%, to 27,118.01.

On the BSE, 5,552 shares were traded on the counter so far as against the average daily volumes of 12,770 shares in the past one quarter. The stock had hit a high of Rs 1,015 and a low of Rs 978.45 so far during the day.

The stock had hit a record high of Rs 1,399 on 15 September 2016 and a 52-week low of Rs 287.20 on 21 January 2016. The stock had underperformed the market over the past one month till 20 January 2017, sliding 0.29% compared with the Sensexs 2.76% rise. The scrip had also underperformed the market over the past one quarter declining 23.42% as against the Sensexs 3.89% fall.

The small-cap company has equity capital of Rs 7.91 crore. Face value per share is Rs 10.

Rane Brake Linings earnings before interest, tax, depreciation and amortization (EBITDA) increased by 7% to Rs 17.66 crore in Q3 December 2016 over Q3 December 2015.

EBITDA margin increased a tad to 14.8% in Q3 December 2016 as against 14.7% in Q3 December 2015.

The company said that it witnessed strong demand from Indian original equipment manufacturers (OEM) customers predominantly in the passenger vehicle and commercial vehicle segment. The Indian aftermarket business was affected due to demonetization, however, disc pads products maintained its growth momentum.

It witnessed a demand drop in the rail segment while international aftermarkets recorded flat performance. The effect of adverse currency movement and unfavorable product mix was offset by continued cost reduction and operating measures, it added.

The board has declared interim dividend of Rs 6 per share for the year ending 31 March 2017 (FY 2017). The record date of interim dividend is 2 February 2017.

Rane Brake Lining manufactures friction material products such as brake linings, disc pads, clutch facings, clutch buttons, brake shoes and railway brake blocks.

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Suven Life Sciences gains after securing product patent in Australia
Jan 23,2017

The announcement was made during trading hours today, 23 January 2017.

Meanwhile, the BSE Sensex was up 41.68 points, or 0.15%, to 27,076.18.

On the BSE, so far 38,000 shares were traded in the counter, compared with average daily volumes of 56,949 shares in the past one quarter. The stock had hit a high of Rs 178.40 and a low of Rs 170.70 so far during the day.

The stock hit a 52-week high of Rs 228.50 on 30 May 2016. The stock hit a 52-week low of Rs 144.35 on 19 February 2016. The stock had underperformed the market over the past 30 days till 20 January 2017, rising 2.62% compared with the 4.06% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 14.49% as against Sensexs 3.71% decline.

The small-cap company has equity capital of Rs 12.73 crore. Face value per share is Re 1.

Suven Life Sciences announced that the grant of one product patent from Australia corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases and the patent is valid through 2033.

The granted claims of the patents are from the mechanism of action include the class of selective 5HT4 compounds and are being developed as therapeutic agents and are useful in the treatment of cognitive impairment associated with neurodegenerative disorders like Alzheimers disease, Attention deficient hyperactivity disorder (ADHD), Huntingtons disease, Major Depressive disorder (MDD), Parkinson and Schizophrenia.

With these new patents, Suven has a total of twenty five (25) granted patents from Australia. These granted patents are exclusive intellectual property of Suven and are achieved through the internal discovery research efforts. Products out of these inventions may be out-licensed at various phases of clinical development like at Phase-I or Phase-II.

Suven Life Sciences net profit rose 5.2% to Rs 26.56 crore on 1.2% decline in net sales to Rs 115.55 crore in Q2 September 2016 over Q2 September 2015.

Suven Life Science is a bio-pharmaceutical company focused on discovering, developing and commercializing novel pharmaceutical products.

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Suzlon Energy secured repeat order of 50.40 MW
Jan 23,2017

Suzlon Energy announced its repeat order win of 50.40 MW from a leading power utility. The project consists of 24 units of S97 120 m hybrid tower with rated capacity of 2.1 MW. Located in Kutch, Gujarat, the project will be completed by March 2017.

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