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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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HDIL biggest loser on BSEs A group
Aug 04,2017

Housing Development & Infrastructure (HDIL) slipped 8.63% at Rs 76.25. The stock topped the losers in A group. On the BSE, 30.46 lakh shares were traded on the counter so far as against the average daily volumes of 15.59 lakh shares in the past two weeks.

CEAT declined 6.60% at Rs 1,776.70. The stock was the second biggest loser in A group. On the BSE, 1.24 lakh shares were traded on the counter so far as against the average daily volumes of 51,000 shares in the past two weeks.

Biocon fell 5.28% at Rs 355.50. The stock was the third biggest loser in A group. On the BSE, 7.97 lakh shares were traded on the counter so far as against the average daily volumes of 3.76 lakh shares in the past two weeks.

Marksans Pharma skid 3.38% at Rs 40.05. The stock was the fourth biggest loser in A group. On the BSE, 3.15 lakh shares were traded on the counter so far as against the average daily volumes of 4.66 lakh shares in the past two weeks.

Hindustan Construction Company (HCC) tumbled 3.30% at Rs 39.60. The stock was the fifth biggest loser in A group. On the BSE, 12.57 lakh shares were traded on the counter so far as against the average daily volumes of 10.96 lakh shares in the past two weeks.

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Relicab Cable Manufacturing allots 8,19,000 equity shares
Aug 04,2017

Relicab Cable Manufacturing has allotted 8,19,000 equity shares of preferential basis at its Board of Directors meeting held on 04 August 2017.

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983.42 lakh beneficiaries being currently provided services under ICDS
Aug 04,2017

The Integrated Child Development Services [ICDS] Scheme is one of the flag ship programmes. The Scheme provides a package of six services viz. supplementary nutrition, immunization, referral services, health check-up, pre-school non-formal education and health and nutrition education. In order to address various programmatic, management and institutional gaps and to meet administrative and operational challenges, Government approved the Strengthening and Restructuring of ICDS Scheme in September 2012 with an over-all budget allocation of Rs.1,23,580 crore during 12th Five Year Plan. The restructured ICDS has been implemented across the country in a phased manner.

The key features of Strengthened and Restructured ICDS inter-alia include addressing the gaps and challenges with (a) special focus on children under 3 years and Pregnant Women and Lactating Mothers (b) strengthening and repackaging of services including , care and nutrition counseling services and care of severely underweight children (c) a provision for an additional Anganwadi Worker cum Nutrition Counselor for focus on children under 3 years of age and to improve the family contact, care and nutrition counseling for P&L Mothers in the selected 200 high-burden districts across the country, besides having provision of link worker, 5% Crn++che-cum-Anganwadi centre (d) focus on Early Childhood Care and Education (ECCE) (e) forging strong institutional and programmatic convergence particularly, at the district, block and village levels (f) models providing flexibility at local levels for community participation (g) introd uction of APIP (h) improving Supplementary Nutrition Programme including cost revision, (i) provision for construction and improvement of buildings of Anganwadi centres (j) allocating adequate financial resources for other components including Monitoring and Management and Information System(MIS), Training and use of Information and Communication Technology (ICT), (k) to put ICDS in a mission mode etc. and (l) revision of financial norms etc.

The Integrated Child Development Services [ICDS] Scheme was universalized in 2008-09 so as to cover all habitations, including Scheduled Castes/ Scheduled Tribes and minority population, across the country with the approval of 7076 ICDS Projects and 14 lakh Anganwadi Centres. Against 7076 sanctioned Projects and 14 lakh sanctioned Anganwadi Centres, 7075 Projects and 13.55 lakh Anganwdi Centres are operational as on 31.03.2017. All the Anganwadi Centres are covered under restructured ICDS Scheme. The services are currently being provided to 983.42 lakh beneficiaries of which 800.73 lakh are children under age of six years and 182.69 lakh are pregnant women & lactating mothers. Pre-school education is provided to 340.52 lakh children of 3-6 years (171.11 lakh are boys and 169.41 lakh are girls).

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Biocon slips after USFDA issues 10 observations
Aug 04,2017

Meanwhile, the S&P BSE Sensex was down 63.21 points, or 0.20% to 32,174.67.

On the BSE, 7.88 lakh shares were traded in the counter so far, compared with average daily volumes of 3.34 lakh shares in the past one quarter. The stock had hit a high of Rs 359.05 and a low of Rs 341 so far during the day. The stock hit a record high of Rs 424.15 on 19 July 2017. The stock hit a 52-week low of Rs 255.41 on 12 August 2016.

The stock had outperformed the market over the past one month till 3 August 2017, rising 10.59% compared with 3.18% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 8.52% as against Sensexs 7.97% rise. The scrip had also outperformed the market in past one year, rising 36.43% as against Sensexs 16.32% rise.

The large-cap company has equity capital of Rs 300 crore. Face value per share is Rs 5.

The US Food and Drug Administration (USFDA) issued a Form 483 n++ a form listing violations n++ after an inspection between 25 May 2017 and 3 June 2017.​ The FDA issues a Form 483 if its investigators spot any conditions that in their judgement may constitute violations of the US Food Drug and Cosmetic (FD&C) Act and related laws.

USFDA observed inadequate procedures by the company to prevent microbiological containment of drug products, unexplained discrepancy in batches of the same product, no complete records of data derived from all tests to assure compliance with standards, lack of authority and responsibility of the quality control unit to accept or recent drug, among others.

USFDA said that the employees engaged in the manufacture and processing of a drug product lack the training and experience required to perform their assigned functions.

Besides, the lab controls do not include the establishment of scientifically sound and appropriate specifications and test procedures, USFDA said.

On a consolidated basis, net profit of Biocon declined 51.20% to Rs 81.30 crore on 5.60% decline in net sales to Rs 927.40 crore in Q1 June 2017 over Q1 June 2016.

Biocon is Indias largest and fully-integrated, innovation-led biopharmaceutical company.

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Budgetary provision of Rs. 2700 Cr. made for implementation of PMMVY during FY 2017-18
Aug 04,2017

The National Food Security Act, 2013 (NFSA) provides that subject to such schemes as may be framed by the Central Government, every Pregnant Woman and Lactating Mother, except those who are in regular employment with the Central Government or State Government or Public Sector Undertaking or those who are in receipt of similar benefits under any law for the time being in force, shall be entitled to maternity benefit of not less than Rs 6000, in such instalments as may be prescribed by the Central Government.

The Government of India has approved Pan-India implementation of Pradhan Mantri Matru Vandana Yojana (PMMVY) to cover all the districts of the country with effect from 01 January 2017. PMMVY envisages payment of maternity benefits of Rs 5000 in beneficiarys bank/post office account in three instalments at the stage of early registration of pregnancy, after six months of pregnancy with at least one antenatal check-up and registration of child birth & first cycle of immunisation of the child. The eligible beneficiary is to receive the remaining cash incentive as per approved norms towards Maternity Benefit under Janani Suraksha Yojana (JSY) after institutional delivery so that on an average, a woman gets Rs 6000. The maternity benefits under PMMVY are available to the eligible beneficiaries for first living child of family.

The Government of India has made adequate budgetary provision of Rs 2700 crore for implementation of PMMVY during the financial year of 2017-18.

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GCM Capital Advisors announces resignation of company secretary
Aug 04,2017

GCM Capital Advisors announced that Gourav Mody, Company Secretary and Compliance Officer has resigned with effect from 02 August 2017. The Board has accepted his resignation at its meeting held on 04 August 2017.

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Dwarikesh Sugar hits record high on recent rally
Aug 04,2017

Meanwhile, the S&P BSE Sensex was down 89.03 points, or 0.28% at 32,148.85. The S&P BSE Small-Cap index was down 22.69 points, or 0.14% at 15,888.65.

On the BSE, 2.55 lakh shares were traded on the counter so far as against the average daily volumes of 54,829 shares in the past one quarter. The stock had hit a high of Rs 639 so far during the day, which is also its record high. The stock hit a low of Rs 612 so far during the day. The stock had hit a 52-week low of Rs 207 on 9 November 2016.

The stock had outperformed the market over the past one month till 3 August 2017, advancing 36.61% compared with the Sensexs 3.25% rise. The scrip had also outperformed the market over the past one quarter advancing 25.44% as against the Sensexs 7.84% rise. The scrip had also outperformed the market over the past one year advancing 66.26% as against the Sensexs 16.39% rise.

The small-cap company has equity capital of Rs 18.83 crore. Face value per share is Rs 10.

Shares of Dwarikesh Sugar Industries rose 32.08% in six trading sessions to its current market price of Rs 629.50, from a close of Rs 476.60 on 27 July 2017.

Dwarikesh Sugar Industries net profit fell 11.4% to Rs 46.82 crore on 91.2% increase in net sales to Rs 440.37 crore in Q4 March 2017 over Q4 March 2016.

Dwarikesh Sugar Industries is an integrated conglomerate primarily engaged in manufacture of sugar and allied products. From a humble beginning in 1993, Dwarikesh now has a strong presence in diversified fields such as sugar manufacturing, power and ethanol/ industrial alcohol production.

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Ministry of Agriculture & Farmers Welfare releases Rs.16094.13 crore in the first quarter of 2017-18
Aug 04,2017

Ministry of Agriculture & Farmers Welfare is continuously striving for holistic development of Indian Agriculture and its backbone - farmers. To achieve the goal of doubling of farmers income by 2022, the Ministrys budget of Rs. 62125.02 crore during 2017-18 has increased by about 39% as against Rs. 44721.84 crore during 2016-17.

In the first quarter upto June, 2017, Rs.16094.13 crore has been released as against Rs.10498.90 crore during the quarter ending June, 2016.  This works out to 53% increase in the amount released.

Sl.No.Name of SchemeExpenditure  upto June 2016-17Expenditure upto June 2017-18% increase1Pradhan Mantri Fasal Bima Yojana2899.594664.88602RKVY644.16967.89503Green Revolution- Krishonnati Yojana (MIDH)449.64851.29904NFSM222.93333.57505Agriculture Mechanisation114.81416.272626Rashtriya Gokul Mission0.0036.0036007National Dairy Plan Phase-I100.00200.001008National Programme for Dairy Development 6.9589.0111809Blue Revolution16.91100.64495

From the above, it can be seen that Ministry is making concerted efforts for development of agriculture and welfare of farmers in the country.

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Nitin Spinners receives upgradation in credit ratings
Aug 04,2017

Nitin Spinners has received upgradation in ratings from Brickwork Ratings in respect of bank facilities as under -

Long term rating - term loan and working capital (fund based) - BWR A (Revised from BWR A-)

Short term ratings (non fund based) - BWR A1 (Revised from BWR A2+)

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Mather & Platt Fire Systems to discuss results
Aug 04,2017

Mather & Platt Fire Systems will hold a meeting of the Board of Directors of the Company on 11 August 2017.

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Gateway Distriparks declares Quarterly Result
Aug 04,2017

Gateway Distriparks will hold a meeting of the Board of Directors of the Company on 11 August 2017.

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Beryl Securities AGM scheduled
Aug 04,2017

Beryl Securities announced that the Annual General Meeting (AGM) of the company will be held on 26 August 2017.

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Vascon Engineers gets NCLT approval for scheme of amalgamation
Aug 04,2017

Vascon Engineers announced that the National Company Law Tribunal, Mumbai Bench has approved the scheme of Amalgamation of Vascon Pricol Infrastructures, Vascon Dwellings, Wind Flower Properties, Floriana Properties, IT-Citi Infopark, Greystone Premises, Just Homes (India), Shreyas Strategists, Sansara Developers India, Sunflower Real Estate Developers and Angelica Properties with Vascon Engineers and their respective shareholders and creditors vide order dated 21 June 2017.

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Jasch Industries to convene AGM
Aug 04,2017

Jasch Industries announced that the Annual General Meeting (AGM) of the company will be held on 27 September 2017.

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Jayabharat Credit to table results
Aug 04,2017

Jayabharat Credit will hold a meeting of the Board of Directors of the Company on 12 August 2017, for approval of Unaudited Financial Results for the quarter ended 30th June 2017.

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