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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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City Union Bank opens new branch at Kuniamuthur in Coimbatore
Dec 19,2016

City Union Bank opened its 527th branch at Kuniamuthur in Coimbatore on 19 December 2016.

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Cipla receives ANDA approval for Fenofibrate Tablets
Dec 19,2016

Cipla has received final approval for its Abbreviated New Drug Application (ANDA) for Fenofibrate Tablets USP 48mg and 145mg, from the United States Food and Drug Administration (USFDA).

Fenofibrate Tablets, USP 48mg and 145mg, are AB-rated generic equivalents of AbbVies Tricorn++ Tablets and are indicated as adjunctive therapy to diet to reduce elevated low-density lipoproteincholesterol (LDL-C), total cholesterol (Total-C), Triglycerides and apolipoprotein B(Apo B), and to increase high-density lipoprotein cholesterol (HDL-C) in adult patients with primary hypercholesterolemia or mixed dyslipidemia.

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Engineers India advances after setting record date for bonus issue
Dec 19,2016

The announcement was made during market hours today, 19 December 2016.

Meanwhile, the S&P BSE Sensex was down 81.36 points or 0.31% at 26,408.20

On the BSE, 2.34 lakh shares were traded on the counter so far as against the average daily volumes of 2 lakh shares in the past one quarter. The stock hit a high of Rs 317.80 in intraday trade so far, which is 52-week high for the counter. The stock hit a low of Rs 307.30 so far during the day. The stock had hit a 52-week low of Rs 143.25 on 17 February 2016. The stock had outperformed the market over the past 30 days till 16 December 2016, rising 14.61% compared with the 1% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 19.22% as against Sensexs 7.38% decline.

The large-cap company has equity capital of Rs 168.47 crore. Face value per share is Rs 5.

Engineers India had on 16 November 2016 said that its board has approved 1:1 bonus issue of shares.

Engineers Indias net profit rose 21.42% to Rs 93.75 crore on 22.6% decline in total income to Rs 394.99 crore in Q2 September 2016 over Q2 September 2015.

State-run Engineers India provides engineering consultancy and EPC services, mainly to the oil and gas and petrochemical industries. The company has also diversified into sectors like infrastructure, water and waste management, solar and nuclear power and fertilizers to leverage its strong technical competencies and track record. The government of India holds 59.37% in Engineers India (as per shareholding pattern as on 30 September 2016).

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Anuh Pharma corrects on profit booking
Dec 19,2016

Meanwhile, the BSE Sensex was down 107.22 points, or 0.40%, to 26,382.34.

On the BSE, so far 31,000 shares were traded in the counter, compared with average daily volumes of 17,114 shares in the past one quarter. The stock had hit a high of Rs 244.45 and a low of Rs 221.75 so far during the day.

The stock hit a 52-week high of Rs 344 on 21 December 2015. The stock hit a 52-week low of Rs 159 on 21 April 2016. The stock had outperformed the market over the past 30 days till 16 December 2016, rising 17.77% compared with the 1% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 3.40% as against Sensexs 7.38% decline.

The small-cap company has equity capital of Rs 12.53 crore. Face value per share is Rs 5.

Shares of Anuh Pharma surged 16.54% to settle at Rs 238.55 on Friday, 16 December 2016, after the company announced that French National Agency for Medicines and Health Products Safety (ANSM) considers manufacturing site of the company at MIDC Tarapur in Maharashtra in compliance with principles of good manufacturing practices (GMP) for active substances and has granted European Union good manufacturing practices (EUGMP) certificate for Erythromycin Ethyl Succinate and Pyrazinamide products. ANSM carried out the inspection of the manufacturing site on 16 September 2016.

Separately, Anuh Pharma announced that World Health Organisation (WHO), Geneva, considers the manufacturing site of the company at MIDC Tarapur in Maharashtra in compliance to WHO GMPs for Pyrazinamide APIMF158 and Sulfadoxine APIMF234, active pharmaceutical ingredients. The inspection of the manufacturing site by the WHO was carried out on 16 September 2016.

Both the announcements were made during market hours on Friday, 16 December 2016.

Anuh Pharmas net profit dropped 34.5% to Rs 4.87 crore on 44.2% drop in net sales to Rs 50.07 crore in Q2 September 2016 over Q2 September 2015.

Anuh Pharma manufactures active pharmaceutical ingredients (APIs).

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GSFC, FACT spurt after caprolactam prices hit 2-year high
Dec 19,2016

Gujarat State Fertilizers & Chemicals (GSFC) (up 9.29% to Rs 95.85) and Fertilizers and Chemicals Travancore (FACT) (up 5.42% to Rs 24.30), edged higher.

The S&P BSE Sensex was down 50.03 points, or 0.19% at 26,439.53.

According to media reports, Asian caprolactam hit a 2-year high on Thursday, 15 December 2016, with the CFR Far East Asia marker assessed by S&P Global Platts at $1,830 per metric tonne. The last time the price was at this level was on 18 December 2014, when the Platts CFR Far East Asia marker was assessed at $1,900 a metric tonne.

Caprolactam, a derivative of benzene, is used for manufacturing nylon, tyre-cord, textile filament yarn and engineering plastics.

GSFC and FACT are two major manufacturers of caprolactam in India. GSFC has two caprolactam plants having rated capacities of 20,000 tonnes per annum (TPA) and 50,000 TPA. Meanwhile, FACT has the capacity to produce 50,000 tonnes of caprolactam in a year. FACT exports caprolactam to various countries, including the US.

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Surya Roshni announces appointment of director
Dec 19,2016

Surya Roshni announced that the Board of Directors of the Company by Circular Resolution has appointed Urmil Agarwal as an Additional Director (Member of Promoter Group and Immediate relative of Promoter) of the Company.

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Max Ventures and Industries announces change in directorate
Dec 19,2016

Max Ventures and Industries announced that the majority of Directors of the Company on 17 December 2016, took note of the resignation of Sanjeev Kishen Mehra from the Board of Directors of the Company effective 08 December 2016. Simultaneously, the position held by Lavanya Ashok as Alternate Director to Sanjeev Kishen Mehra on the Board of the Company stands vacated.

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GCM Capital Advisors incorporate subsidiary
Dec 19,2016

GCM Capital Advisors has incorporated a subsidiary company, Lucrare Technology in India on 16 December 2016.

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MSR India bags order from ISRO
Dec 19,2016

MSR India has bagged the prestigious Vikram Sarabhai Space Centre (ISRO, Department of Space, GoI) order for manufacturing Special Purpose Components worth Rs 50 lakh. The company has bagged the contract for second consecutive time from ISRO after it completed the first order in a record time.

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NBCC (India) secures new business worth Rs 596.41 crore
Dec 19,2016

NBCC (India) has secured new work for the construction of residential cum training complex for Special Protection Group at New Delhi and construction of guest house for Government of Gujarat at New Delhi amounting to Rs 466.41 crore and 130 crore respectively for the month of December 2016.

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MSR India gains after winning order
Dec 19,2016

The announcement was made during trading hours today, 19 December 2016.

Meanwhile, the BSE Sensex was down 58.42 points, or 0.22%, to 26,431.14.

On the BSE, so far 2,398 shares were traded in the counter, compared with average daily volumes of 21,214 shares in the past one quarter. The stock had hit a high of Rs 52.15 and a low of Rs 51 so far during the day.

The stock hit a 52-week high of Rs 150 on 20 April 2016. The stock hit a 52-week low of Rs 35.10 on 30 November 2016. The stock had underperformed the market over the past 30 days till 16 December 2016, sliding 15.87% compared with the 1% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 24.14% as against Sensexs 7.38% decline.

The small-cap company has equity capital of Rs 31.44 crore. Face value per share is Rs 5.

MSR India said it secured prestigious Vikram Sarabhai Space Centre (ISRO) order for manufacturing special purpose components. The company bagged this contract for second time after completing its first order in a record time.

After entering into aerospace & defense sector, this is a biggest achievement for the company to bag consecutive order from ISRO. The company said it expects to generate huge revenue from these work orders.

Net profit of MSR India rose 137.5% to Rs 0.19 on 9.7% rise in net sales to Rs 41.69 crore in Q2 September 2016 over Q2 September 2015.

MSR Indias product portfolio consists of copper bottles, ready-to-eat energy powder, FMCG products, extrusion and forging products. The company makes special purpose components for aerospace & defense industry.

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Pennar Engineered Building Systems announces change in company secretary & compliance officer
Dec 19,2016

Pennar Engineered Building Systems announced that Subhash Kishan Kandrapu, Company Secretary & Compliance Officer of the Company, has resigned from the position of Company Secretary & Compliance Officer of the Company with effect from 30 November 2016 and Gopal Ladda, has been appointed as Company Secretary and Compliance officer of the Company with effect from 30 November 2016.

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Pennar Industries intimates of merger proposal
Dec 19,2016

Pennar Industries announced that the Board of Pennar Industries is evaluating the merger of its subsidiary Pennar Enviro into Pennar Industries. Pennar Industries currently holds 51.03% of the total equity of Pennar Enviro. The proposed merger is intended to position the environment business for further rapid growth. The Company has appointed an advisor for the merger and will be in touch with all major stakeholders regarding this proposition.

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Engineers India fixes record date for bonus issue
Dec 19,2016

Engineers India has fixed 02 January 2017 as the record date for the purpose of ascertaining the eligibility of shareholders for issuance of Bonus shares in the ratio of 1:1 i.e. 1 (one) new equity bonus share of Rs. 5/- each for every 1 (one) existing fully paid-up equity share of Rs. 5/- each held, subject to the approval of shareholders in the 15th Extraordinary General Meeting (EGM) of the Members of the Company to be held on 23 December 2016 at 3:00 p.m. (IST) at Engineers India , NH-8, Sector-16, Gurugram-122001 (Haryana).

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New orders boost NBCC (India)
Dec 19,2016

The announcement was made during market hours today, 19 December 2016.

Meanwhile, the BSE Sensex was down 65.63 points, or 0.25%, to 26,423.93

On the BSE, 55,000 shares were traded on the counter so far as against the average daily volumes of 2.08 lakh shares in the past one quarter. The stock had hit a high of Rs 227.30 and a low of Rs 223.50 so far during the day. The stock hit a record high of Rs 299.20 on 5 October 2016. The stock hit a 52-week low of Rs 162 on 12 February 2016. The stock had outperformed the market over the past 30 days till 16 December 2016, rising 3.53% compared with the 1% rise in the Sensex. The scrip, however, underperformed the market in past one quarter, declining 9.51% as against Sensexs 7.38% decline.

The large-cap company has equity capital of Rs 120 crore. Face value per share is Rs 2.

NBCC (India) said it has secured new works for the construction of residential cum training complex for Special Protection Group (SPG) at Sector - 21, Dwarka, New Delhi and construction of guest house for government of Gujarat at Akbar Road, New Delhi amounting to Rs 466.41 crore and Rs 130 crore, respectively, in December 2016.

NBCC (India)s consolidated net profit rose 1.42% to Rs 69.11 crore on 15.75% increase in net sales to Rs 1224.41 crore in Q2 September 2016 over Q2 September 2015.

NBCC (India) is a blue-chip Government of India (GoI) Navratna Enterprise under the Ministry of Urban Development, in construction sector. The GoI held 90% stake in the firm (as per shareholding pattern as on 30 September 2016).

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