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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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Science & Technology Ministry to virtually reproduce all monuments using 3D technology: Prof. Ashutosh Sharma, secretary
Mar 14,2017

The Union Science and Technology Ministry will reproduce all monuments, Buddhist Circuit using three dimensional (3D), cyber physical systems and other technologies with a view to virtually promote architectural heritage, a top official said at an ASSOCHAM event.

n++Without going for Bharat Darshan, you can sit in one place, in Delhi may be, and visit all the monuments, get all the information about them better than a guide can tell us because of the whole force of Wikipedia is behind you in that,n++ said Prof. Ashutosh Sharma, secretary, Department of Science and Technology.

He was talking about a project undertaken by Indian Institute of Technology (IIT) - Delhi about recreating architectural heritage. n++They recreated the lost city of Hampi, 3D printed it and also embed all the information related to the monuments, sculptures, their whole history in this physical model.n++

He said that one could stop, pause and ask for more information about certain elements in-there and one would get that thereby terming it a weak example of cyber physical as it is not driven by AI and so it is not inventing new facts about the monument but everything which is already there.

n++We are going to reproduce using the same technology now all the monuments - starting from Ghats of Benares, if you take a boat-ride in the Ganges you see all the facades, all the history of the place, (will) reproduce Buddhist circuit,n++ said Prof. Sharma.

He also said that there is an urgent need to create 20 million new jobs i.e. about two crore new jobs in India every year so it would be a challenge to use global technologies like AI as per the local needs.

n++One has to think very deeply about how to use the same technology to do the opposite of what the technology is being created for, so it would not help us to copy Japan, Germany because of the objectives being little bit different,n++ said Prof. Sharma.

He said that all these countries are developing AI because they do not have people. n++If you want to grow and remain competitive the way to go would be technology which can replace people but our problem is totally opposite.n++

n++We certainly need best of our technologists, scientists, even social scientists, economists to think very deeply about this problem of using AI to generate jobs,n++ he added.

He also said that the biggest challenge for India is to remain competitive not because of AI but despite AI to be able to create new jobs in every domain whether it is services or manufacturing because both of these domains will get affected as both require decision making.

n++We need strong policy statements to deal with what is coming and in fact what is already there, we need to modify some of it, we need to introduce new elements and policies,n++ further said Prof. Sharma.

He said that newer technologies like AI would impact sectors like education and healthcare in a big way. n++Doctors today in India have about 2.5 seconds to look at each patient which may be enough for a machine to arrive at good diagnostics but not for a human doctor.n++

May be we would create a knowledge bank which is completely and meticulously sealed and say that these are reference points of knowledge which are not alterable by machines. So unless we have these reference points it can get to be pretty scary in the future.

On the education front, he said that there is a need have bring in tools like AI and work on the challenges that these tools will pose to our traditional models of education.

n++Our education system is very conservative with direct emphasis on memorisation and on cracking exams but not on deep skills and developing insights into what it means to arrive at a decision and how to do things independently,n++ said Prof. Sharma.

n++So we need to start focussing on education in a very strong way,n++ he added.

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Zee Learn allots 196,650 equity shares
Mar 14,2017

Zee Learn has allotted 196,650 equity shares under ZLL ESOP 2010 - Amended 2015 scheme on 14 March 2017. Consequent to the above allotment, the paid up share capital has increased to 322,180,781 equity shares of Re 1 each aggregating Rs 322,180,781.

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Chambal Fertilisers & Chemicals shuts down Urea plant at Gadepan
Mar 14,2017

Chambal Fertilisers & Chemicals announced that the Companys Urea Plant at Gadepan, District Kota, Rajasthan (Gadepan-I) has been shut down from 14 March 2017 to carry out planned repair and maintenance activities. The plant is expected to resume operations from 25 March 2017.

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Bitter pill for Alkem Labs after receiving USFDA observations for Baddi facility
Mar 14,2017

The announcement was made after market hours on Friday, 10 March 2017.

Meanwhile, the S&P BSE Sensex was up 487.58 points or 1.68% at 29,433.81

On the BSE, 4,591 shares were traded on the counter so far as against the average daily volumes of 8,866 shares in the past one quarter. The stock had hit a high of Rs 1,989.95 and a low of Rs 1,922.10 so far during the day.

The stock had hit a record high of Rs 2187 on 27 Februray 2017. The stock had hit a record low of Rs 1,175 on 2 May 2016. The stock had outperformed the market over the past 30 days till 10 March 2017, rising 8.95% compared with the 2.18% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 17.74% as against Sensexs 8.22% gain.

The large-cap company has equity capital of Rs 23.91 crore. Face value per share is Rs 2.

Alkem Laboratories said that the United States Food & Drug Administration (USFDA) had conducted an inspection at the companys manufacturing facility located at Baddi from 2 March 2017 to 10 March 2017. In this regard, the company has received the inspection report which contains three 483 observations. The company shall put together a detailed response with adequate corrective and preventive measures to address the USFDA observations and the same is proposed to be filed within the timeline stipulated by USFDA.

Alkem Laboratories consolidated net profit rose 24.89% to Rs 233.40 crore on 15.42% growth in total income to Rs 1507.32 crore in Q3 December 2016 over Q3 December 2015.

Alkem Laboratories is a pharmaceutical company with global operations, engaged in the development, manufacture and sale of pharmaceutical and nutraceutical products.

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Marathon Nextgen Realty spurts on buyback plan
Mar 14,2017

The announcement was made after market hours on Friday, 10 March 2017.

Meanwhile, the S&P BSE Sensex was up 489.82 points, or 1.69% to 29,436.05.

On the BSE, 31,000 shares were traded in the counter so far, compared with average daily volumes of 2,917 shares in the past one quarter. The stock had hit a high of Rs 260 and a low of Rs 234.10 so far during the day. The stock hit a 52-week high of Rs 297 on 12 August 2016. The stock hit a 52-week low of Rs 135 on 5 April 2016.

The stock had outperformed the market over the past one month till 10 March 2017, rising 6.38% compared with 2.18% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 1.61% as against Sensexs 8.22% rise.

The small-cap company has equity capital of Rs 28.44 crore. Face value per share is Rs 10.

Marathon Nextgen Realty said that the board will also consider new project proposal, among other things.

Net profit of Marathon Nextgen Realty declined 22.20% to Rs 25.16 crore on 36.4% decline in net sales to Rs 53.81 crore in Q3 December 2016 over Q3 December 2015.

Marathon Nextgen Realty is engaged in real estate development business.

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Ramco Systems partners with New Zealand based Ravensdown Aerowork
Mar 14,2017

Ramco Systems announced an order win from New Zealand based Ravensdown Aerowork, a subsidiary of the farmer-owned-cooperative Ravensdown. Ramco will deploy Ramco Aviation Suite v5.8 to enable Ravensdown Aerowork automate and unify the maintenance and overhaul operations of its fleet.

Ravensdown Aerowork operates fixed wing aircraft which spread fertilisers across New Zealand. The companys fleet has the ability to carry up to 2000 kg load.

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Golden Tobacco provides update on an Income Tax demands
Mar 14,2017

Golden Tobacco announced that the Income Tax Appellate Tribunal (ITAT), Mumbai vide its order dated 07 March 2017 quashed the CIT (Appeal), orders in respect of assessment year 1984-85 to 1986-87 to principal demand of Rs.33.14 crore. Consequently related interest and penalty on these demands will not be payable.

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Karnataka Bank gains after tie-up with Bajaj Allianz for general insurance biz
Mar 14,2017

The announcement was made after market hours on Friday, 10 March 2017.

Meanwhile, the S&P Sensex was up 487.57 points, 1.68% to 29,433.80.

On the BSE, 1.85 lakh shares were traded on the counter so far as against the average daily volumes of 3.28 lakh shares in the past one quarter. The stock had hit a high of Rs 141.30 and a low of Rs 138 so far during the day.

The stock had hit a 52-week high of Rs 143.35 on 2 March 2017 and a 52-week low of Rs 75.34 on 11 March 2016. The stock had outperformed the market over the past one month till 10 March 2017, advancing 14.91% compared with the Sensexs 2.16% rise. The scrip had also outperformed the market over the past one quarter advancing 27.95% as against the Sensexs 8.22% rise.

The mid-cap bank has equity capital of Rs 282.70 crore. Face value per share is Rs 10.

Karnataka Bank announced that the bank entered into Memorandum of Understanding with Bajaj Allianz General Insurance Company (BAGICL) for general insurance business.

Karnataka Banks Managing Director & CEO P Jayaram Bhat said the bank will be able to provide vast choice of non-life insurance products to its customers across all its 747 branches, supported by the customer centric products of BAGICL.

Karnataka Banks net profit fell 29.3% to Rs 68.52 crore on 6.4% increase in total income to Rs 1457.52 crore in Q3 December 2016 over Q3 December 2015.

Karnataka Bank is a private sector bank in India.

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Uniply Industries gains on fund raising plan
Mar 14,2017

The announcement was made on Monday, 13 March 2017, when the stock market was shut on account of a public holiday.

Meanwhile, the S&P BSE Sensex was up 474.81 points, or 1.64% to 29,421.04.

On the BSE, 1,313 shares were traded in the counter so far, compared with average daily volumes of 12,109 shares in the past one quarter. The stock had hit a high of Rs 319 and a low of Rs 311.30 so far during the day.

The stock hit a 52-week high of Rs 350.90 on 27 February 2017. The stock hit a 52-week low of Rs 139.50 on 8 April 2016.

The stock had outperformed the market over the past one month till 10 March 2017, rising 16.12% compared with 2.18% rise in the Sensex. The scrip had also also outperformed the market in past one quarter, 48.13% as against Sensexs 8.22% rise.

The small-cap company has equity capital of Rs 23.91 crore. Face value per share is Rs 10

Net profit of Uniply Industries rose 117.53% to Rs 2.11 crore on 3.47% rise in net sales to Rs 34.87 crore in Q3 December 2016 over Q3 December 2015.

Uniply Industries is engaged in the manufacture, marketing and trade of plywood, laminates and allied products in India.

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Implement Universal Basic Income for women, says ASSOCHAM Women Foundation
Mar 14,2017

Saluting the un-measureable contribution of women to the society, apex industry body ASSOCHAM picked up the idea of Universal Basic Income (UBI), only for women, from a key government document, stating implementation of such a scheme can bring in significant transformation in Indias socio-economic landscape.

n++While India may not be ready for an all - encompassing UBI ,given the countrys scale of development where the difference between the rich and poor remains quite wide and it may not be an equitable thing to extend similar benefits across all strata of the economic paradigm, the women-only UBI can be considered favourably,n++ ASSOCHAM said extending its good wishes on the International Womens Day (IWD).

n++If women in the households have money in their accounts, their economic and social status would see a tremendous uplift. In the long run, this would also bring in corrections in the adverse sex ratio as the society would see women as an empowered lot,n++ the chamber said in a statement.

It added that a sub-idea for UBI for Women was enunciated in the Economic Survey of 2016-17 along with broader UBI. The key document, authored by the Chief Economic Adviser, rightly argued when it had said, n++Women face worse prospects in almost every aspect of their daily lives - employment opportunities, education, health or financial inclusion. Giving money to women also improves the bargaining power for women within households and reduces concerns of money being splurged on conspicuous goods.n++

Under the UBI, some fixed amount is transferred to the accounts of the beneficiaries irrespective of their economic or social status. It is premised on the principle that an equitable society should guarantee a minimum income to each individual for access to basic needs.

Chairperson of the ASSOCHAM Women Foundation, Ms Revati Jain said, n++As it is, the public spending on health and education in India are among the lower categories in the world. The worst sufferers are the women if enough resources are not spent on health and education. The issues of child mortality, infant mortality and even nutrition during pregnancy can be addressed if UBI is extended to women.n++

n++It could be argued that women from the rich and upper middle income groups do not deserve to be provided government support. But the problem of identifying the correct beneficiaries is far greater than the cost of an all - inclusive scheme,n++ said Ms Jain.

n++Maybe, the government can leave it up to the beneficiaries not to avail of the scheme, if they chose to. Say, for instance, if well placed women among the rich and upper middle class do not want UBI, they can voluntary give it up and they will give up,n++ added the AWF chairperson.

n++While most of the welfare schemes can be clubbed into the UBI, certain basic schemes focused on pregnancy benefits can continue along with UBI. The industry, can also be, on a voluntary basis, encouraged to extend its helping hand to the women welfare schemes,n++ she said further.

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Hira Automobile announces resignation of director
Mar 14,2017

Hira Automobile announced that Simran Bajwa, Director of the Company has resigned from the Board.

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Lok Sabha Passes the Admiralty Bill 2016
Mar 14,2017

The Admiralty (Jurisdiction and Settlement of Maritime Claims) Bill, 2016 was passed by the Lok Sabha on 10 March 2017. The Bill aims to establish a legal framework to consolidate the existing laws relating to admiralty jurisdiction of courts, admiralty proceedings on maritime claims, arrest of vessels and related issues. It also aims to replace archaic laws which are hindering efficient governance. The Bill confers admiralty jurisdiction on High Courts located in coastal states of India and this jurisdiction extends upto territorial waters.

Introduced during the winter session of Parliament, the Bill came up for discussion in the Lok Sabha. The Minister of State ( RT&H, S, C&F), Shri Mansukh Mandaviya, presented an overview of the Bill in the House, highlighting the need for repealing five obsolete British statutes on admiralty jurisdiction in civil matters, which are 126 to 177 years old. The Bill provides for prioritization of maritime claims and maritime liens while providing protection to owners, charterers, operators, crew members and seafarers at the same time. During the course of discussion, thirteen members presented their views and raised various questions which were replied to by Shri Mandaviya. The Bill was then passed by the House.

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Sundaram Clayton fixes record date for interim dividend
Mar 14,2017

Sundaram Clayton has fixed 21 March 2017 as record date for interim dividend. Dividend payment date is 24 March 2017.

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NBCC (India) gains after securing contract
Mar 14,2017

The announcement was made after market hours on Friday, 10 March 2017.

Meanwhile, the S&P Sensex was up 509.35 points, 1.76% to 29,455.58.

On the BSE, 83,000 shares were traded on the counter so far as against the average daily volumes of 2.59 lakh shares in the past one quarter. The stock had hit a high of Rs 178.20 and a low of Rs 173.55 so far during the day.

The stock had hit a record high of Rs 199.47 on 5 October 2016 and a 52-week low of Rs 117.67 on 24 June 2016. The stock had underperformed the market over the past one month till 10 March 2017, declining 9.28% compared with the Sensexs 2.16% rise. The scrip had, however, outperformed the market over the past one quarter advancing 9.65% as against the Sensexs 8.22% rise.

The large-cap company has equity capital of Rs 180 crore. Face value per share is Rs 2.

NBCC (India) announced that the company has signed an agreement on Friday 10 March 2017, with the State of Mauritius (Government of Mauritius) and Landscope (Mauritius) for construction of new supreme court building on PMC basis in Mauritius. The approximate value of the project is Rs 250 crore having completion period of 24 months.

NBCC (India)s consolidated net profit rose 15.9% to Rs 64.42 crore on 4% increase in net sales to Rs 1413.77 crore in Q3 December 2016 over Q3 December 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 75% stake in the firm (as per shareholding pattern as on 22 February 2017).

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Shri Keshav Cements & Infra announces resignation of director
Mar 14,2017

Shri Keshav Cements & Infra announced that the Board of Directors of the Company noted the resignation of Ramesh Shah, Independent Director through Circular Resolution passed with effect from 13 March 2017.

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