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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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MMTC standalone net profit declines 76.57% in the September 2016 quarter
Dec 09,2016

Net profit of MMTC declined 76.57% to Rs 10.45 crore in the quarter ended September 2016 as against Rs 44.60 crore during the previous quarter ended September 2015. Sales declined 71.55% to Rs 1389.95 crore in the quarter ended September 2016 as against Rs 4884.99 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales1389.954884.99 -72 OPM %-1.97-0.68 - PBDT2.065.83 -65 PBT0.954.57 -79 NP10.4544.60 -77

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Finolex Industries standalone net profit rises 27.63% in the September 2016 quarter
Dec 09,2016

Net profit of Finolex Industries rose 27.63% to Rs 51.32 crore in the quarter ended September 2016 as against Rs 40.21 crore during the previous quarter ended September 2015. Sales declined 1.77% to Rs 453.64 crore in the quarter ended September 2016 as against Rs 461.83 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales453.64461.83 -2 OPM %19.1811.35 - PBDT92.6747.42 95 PBT78.7934.77 127 NP51.3240.21 28

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Claris Lifesciences consolidated net profit rises 169.92% in the September 2016 quarter
Dec 09,2016

Net profit of Claris Lifesciences rose 169.92% to Rs 32.39 crore in the quarter ended September 2016 as against Rs 12.00 crore during the previous quarter ended September 2015. Sales declined 0.65% to Rs 192.13 crore in the quarter ended September 2016 as against Rs 193.39 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales192.13193.39 -1 OPM %24.966.63 - PBDT45.5322.27 104 PBT41.4218.24 127 NP32.3912.00 170

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Board of Western India Shipyard approves preferential issue of shares and warrants
Dec 09,2016

Western India Shipyard announced that the Board of Directors of the Company at the meeting held on 09 December 2016, inter-alia, approved the following :

1. The Board approved the preferential issue and allotment of upto maximum 9,25,00,000 equity shares of Rs. 2/- each at par to Bermaco Energy, subject to the approval of the shareholders at the ensuing Annual General Meeting of the Company.

2. The Board further approved the preferential issue and allotment of upto maximum 3,25,00,000 share warrants carrying a right to subscribe to an equivalent number of equity shares of the face value of Rs. 2 at a price to be determined in accordance with the SEBI (ICDR) Regulations, subject to the approval of the shareholders at the ensuing Annual General Meeting of the Company.

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Deep Industries announces closure of QIP issue
Dec 09,2016

Deep Industries announced that the QIP Committee of Board of Directors at its meeting held on 09 December 2016 approved the issue price of Rs 228 per equity share (including premium of Rs 218 per share) after a discount of 5% to the floor price of Rs 239.80 for issuance and allocation of 28 lakh equity shares to eligible QIBs under QIP issue aggregating Rs 63.84 crore. Declared the closure of QIP issue on 09 December 2016. Approved and adopted the placement document dated 09 December 2016 in connection with QIP.

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Brahmanand Himghar to announce September quarter and half year results
Dec 09,2016

Brahmanand Himghar announced that the Meeting of the Board of Directors of the Company will be held on 14 December 2016, to consider and approve the Un-Audited Financial Results of the Company for the Quarter and half year ended 30 September 2016.

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Board of Polo Hotels allots equity shares on conversion of preference shares
Dec 09,2016

Polo Hotels announced that the Board of Directors of the Company at its meeting held on 09 December 2016 approved allotment of 88,88,889 equity shares of Rs 10 each amount to Rs 8.88 crore being addition to the paid up capital of the Company post conversion of compulsorily convertible preference shares of Rs 10 each to the promoters of the Company.

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ICICI Bank approves proposed borrowing plan for remaining period of FY 2017
Dec 09,2016

ICICI Bank announced that the Committee of Executive Directors of the Bank at its meeting held on 09 December 2016 approved the proposed borrowing plan for the remaining period of FY 2017.

Further, the Bank, acting through its DIFC (Dubai) branch, priced an issuance of 5 year fixed rate notes for an aggregate principal amount of JPY 10 billion under the Banks Tokyo Pro-Bond Programme which is listed in Tokyo Stock Exchange.

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M,74 projects supported by NMPB over last 3 years for conducting training programmes on medicinal plants
Dec 09,2016

Fromtime to time, the National Medicinal Plants Board (NMPB),   Ministry of AYUSH under its Central Sector Scheme organizes training programmes, workshops, seminars etc. for farmers, entrepreneurs for cultivation/production, processing and marketing of herbs/medicinal plants through its Facilitation Centers in different states of the country. During the last three years a total of 35 such training programmes/workshops/ Stakeholder meets were supported through these Facilitation Centers of NMPB.  In addition, during the last three years, the NMPB under its Central Sector Scheme has also supported 74 projects in different states for conducting trainingprogrammes/ workshops / seminars etc. on various aspects of medicinal plants / herbs. During the last three years, to support above training programmes/ activities, the NMPB has released a total of ₹ 443.66 Lakh under its Central Sector Scheme.

 During the last three years the amount of grant/fund allocated for production/ cultivation of herbs/medicinal plants under NMPB, Ministry of AYUSHs Centrally Sponsored Scheme of National Mission on Medicinal Plants(NMMP) and National AYUSH Mission (NAM) scheme is as below: 

Name of the SchemeFinancial YearFund Allocated

(Rs. in Lakh)

Centrally Sponsored Scheme of National Mission on Medicinal Plants (NMMP)2013-147381.952014-157313.88Centrally Sponsored Scheme of National AYUSH Mission (NAM)2015-162779.82

The NMPB, Ministry of AYUSH through Quality Council of India (QCI) has designed a Scheme titled Voluntary Certification Scheme for Medicinal Plants Produce (VCSMPP) based on Good Agricultural Practices (GAPs) and Good Field Collection Practices (GFCPs) of medicinal plants.

To effectively implement the scheme and its better acceptability, understanding by farmers, collectors and traders of the medicinal plants, the NMPB is planning strategies along with QCI. In addition, the NMPB has also conducted a meeting with the Manufactures of herbal products/ASU&H Drug Manufacturing Associations in the country and explained them the scheme.

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M-74 projects supported by NMPB over last 3 years for conducting training programmes on medicinal plants
Dec 09,2016

Fromtime to time, the National Medicinal Plants Board (NMPB),   Ministry of AYUSH under its Central Sector Scheme organizes training programmes, workshops, seminars etc. for farmers, entrepreneurs for cultivation/production, processing and marketing of herbs/medicinal plants through its Facilitation Centers in different states of the country. During the last three years a total of 35 such training programmes/workshops/ Stakeholder meets were supported through these Facilitation Centers of NMPB.  In addition, during the last three years, the NMPB under its Central Sector Scheme has also supported 74 projects in different states for conducting training programmes/ workshops / seminars etc. on various aspects of medicinal plants / herbs. During the last three years, to support above training programmes/ activities, the NMPB has released a total of ₹ 443.66 Lakh under its Central Sector Scheme.

 During the last three years the amount of grant/fund allocated for production/ cultivation of herbs/medicinal plants under NMPB, Ministry of AYUSHs Centrally Sponsored Scheme of National Mission on Medicinal Plants(NMMP) and National AYUSH Mission (NAM) scheme is as below: 

Name of the SchemeFinancial YearFund Allocated

(Rs. in Lakh)

Centrally Sponsored Scheme of National Mission on Medicinal Plants (NMMP)2013-147381.95

2014-15

7313.88Centrally Sponsored Scheme of National AYUSH Mission (NAM)2015-162779.82

The NMPB, Ministry of AYUSH through Quality Council of India (QCI) has designed a Scheme titled Voluntary Certification Scheme for Medicinal Plants Produce (VCSMPP) based on Good Agricultural Practices (GAPs) and Good Field Collection Practices (GFCPs) of medicinal plants.

To effectively implement the scheme and its better acceptability, understanding by farmers, collectors and traders of the medicinal plants, the NMPB is planning strategies along with QCI. In addition, the NMPB has also conducted a meeting with the Manufactures of herbal products/ASU&H Drug Manufacturing Associations in the country and explained them the scheme.

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More than 3 lakh Formulations from the texts of AYUSH System have been digitalized under TKDL: Shri ShripadYesso Naik
Dec 09,2016

As per the information provided by Department of Industrial Policy & Promotion (DIPP), 204 Patents have since been granted on formulations/ processes/ products of herbs / plants. DIPP has further stated that Patents are issued on inventions that satisfy the patentability criteria as laid out in the Patents Act, 1970. As per the Patents Act 1970 (as amended), patents can be imparted only to new formulations based on products related to herbs/ plants or processes related thereto, which are not in public domain and fulfill the criteria of patentability.

The Drugs and Cosmetics Act 1940 and Rules 1945, does not have any provision for registration of Ayurvedic formulations. To protect Traditional Medicinal Knowledge of India, the Ministry of AYUSH has created Traditional Knowledge Digital Library (TKDL) in collaboration with Council for Scientific & Industrial Research (CSIR) for digitalization of traditional medicinal knowledge. More than 3 lakh formulations from the texts of Ayurveda, Unani and Siddha Systems have been digitalized till date under TKDL to protect Traditional Knowledge from misappropriation by providing defensive protection.

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Board of Prime Capital Market to consider shifting of registered office
Dec 09,2016

Prime Capital Market announced that the meeting of Board of Directors of the Company will be held on 14 December 2016 to consider followings :

1. To Shift its Registered Office from City of Orissa (Bhuvaneshwar) to City of West Bengal (Kolkata)

2. To seek shareholders approval by way of Postal Ballot for shifting of its Registered Office.

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Board of Tayo Rolls to consider allotment of preference shares
Dec 09,2016

Tayo Rolls announced that a meeting of the Committee of the Board will be held on 13 December 2016 for allotment of 7.17% Non-cumulative Redeemable Preference Shares.

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Gujarat State Financial Corporation announces appointment of Chairman
Dec 09,2016

Gujarat State Financial Corporation announced that Small Industries Development Bank, Mumbai, vide letter dated 05 December 2016, nominated P. K. Taneja, IAS, Managing Director, as Chairman of the Corporation.

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MIC Electronics receieves order from EESL
Dec 09,2016

MIC Electronics announced that the Company have received Letter of Award for supply 20,000 Standalone Off Grid Solar LED Street Lights with contract price of Rs. 32.85 crore. This is an initial release against the total quantity of 80,000 Nos expected from EESL in due course. The balance contract value expected is to the tune of Rs.98.56 crore.

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