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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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Swan Energy signs MoU with Petronasr and Alpha Energy
Dec 14,2016

Swan Energy announced that the Company has signed a MOU with Petronasr and Alpha Energy for the development of SEPHIED BAGHUN gas field, which has approximately 20 tcf reserves, in the Islamic Republic of Iran by constructing necessary on-shore surface facilities and offshore gas liquefaction facilities (OLNG). The project cost is estimated to be around 615 million USD.

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Advanced Enzyme Technologies appoints director
Dec 14,2016

Advanced Enzyme Technologies announced that the Board of Directors have approved by Circular Resolution dated on 14 December 2016 appointment of Pramod Kasat as an Independent Non-Executive Director as an additional director on the Board of Directors of the Company, who shall hold office upto the date of the next General Meeting of the Company.

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Sunteck Realty corrects on profit booking
Dec 14,2016

Meanwhile, the BSE Sensex was down 82.06 points, or 0.31%, to 26,615.76.

On the BSE, so far 2.25 lakh shares were traded in the counter, compared with average daily volumes of 35,770 shares in the past one quarter. The stock had hit a high of Rs 230.40 and a low of Rs 219 so far during the day.

The stock hit a 52-week high of Rs 300 on 30 October 2016. The stock hit a 52-week low of Rs 173 on 12 February 2016. The stock had outperformed the market over the past 30 days till 13 December 2016, rising 6.18% compared with the 0.45% decline in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 10.53% as against Sensexs 5.90% decline.

The small-cap company has equity capital of Rs 12.59 crore. Face value per share is Rs 2.

Shares of Sunteck Realty rose 18.41% in four trading sessions to settle at Rs 227.65 yesterday, 13 December 2016, from its close of Rs 192.25 on 7 December 2016.

The stock surged 9.55% to Rs 227.65 yesterday, 13 December 2016, after the company reported robust Q2 earnings after market hours on Monday, 12 December 2016. Sunteck Realtys net profit surged 526.40% to Rs 97.28 crore on 582.32% rise in total income from operations to Rs 206.06 crore in Q2 September 2016 over Q2 September 2015.

Sunteck Realty (SRL) is a Mumbai‐based real estate development company, catering to the premium ultra‐luxury and luxury residential segment.

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Royal Orchid Hotels advances after adding two more hotels
Dec 14,2016

The announcement was made after market hours yesterday, 13 December 2016.

Meanwhile, the BSE Sensex was down 48.55 points, or 0.18%, to 26,649.27.

On the BSE, 9,542 shares were traded in the counter so far as against average daily volume of 16,342 shares in the past one quarter. The stock had hit a high of Rs 77.65 and a low of Rs 74.60 so far during the day. The stock had hit a 52-week high of Rs 115.10 on 11 January 2016. The stock had hit a 52-week low of Rs 56.60 on 17 February 2016.

The stock had outperformed the market over the past 30 days till 13 December 2016, rising 1.52% compared with 0.45% decline in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 19.3% as against Sensexs 5.84% decline.

The small-cap company has equity capital of Rs 27.23 crore. Face value per share is Rs 10.

Royal Orchid Hotels announced the opening of two hotels under its brand Regenta Inn in Vadodara and Kolkata, which are slated to open on 15 December 2016, expanding count to 40 hotels by the end of 2016.

The brand Regenta Hotels is an upscale arm of the Royal Orchid Hotels group. It is categorized into Regenta, Regenta Central, Regenta Resorts and Regenta Inn.

Royal Orchid Hotels net profit rose 33.7% to Rs 2.74 crore on 8.7% decline in net sales to Rs 19.19 crore in Q2 September 2016 over Q2 September 2015.

Royal Orchid Hotels operates business and leisure hotels in popular destinations.

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WPI inflation eases to 3.2% in November 2016
Dec 14,2016

The Wholesale Price Index (WPI)-based inflation eased for the third straight month to 3.2% in November 2016 from 3.4% in October 2016. The decline in WPI inflation was entirely driven by a dip in inflation for primary articles, while fuel and power and manufactured products group inflation continued to rise in November 2016. Further, the unfavourable base effect restricted sharp decline in inflation in November 2016.

Inflation of primary articles dipped to 1.2% in November 2016 from 3.3% in October 2016. The inflation for manufactured products rose to 3.2% in November 2016. Further, the inflation for fuel items accelerated further to 7.1% in November 2016 from 6.2% in October 2016.

As per major commodity group-wise, inflation eased for fruits, vegetables, egg, fish, spices, fibres, oilseeds, flowers, edible oils, oilcakes, tea, beverages and tobacco products, wood and products, non-metallic mineral products and automotives in November 2016. On the other hand, inflation of foodgrains, coffee, sugarcane, iron ore, crude petroleum, mineral oils, grain mill products, sugar, textiles, paper products, leather products, rubber products, chemical products, and basic metals rose in November 2016.

Inflation of food items (food articles and food products) eased to 4.4% in November 2016 from 6.3% in October 2016. Meanwhile, inflation of non-food items (all commodities excluding food items) moved up to 2.6% in November 2016 from 2.1% in October 2016.

Core inflation (manufactured products excluding foods products) rose to 24-months high of 1.5% in November 2016 from 1.1% in October 2016.

The contribution of primary articles to the overall inflation, at 3.15%, was 36 basis points (bps) in November 2016 compared with 96 bps in October 2016. The contribution of manufactured products was 179 bps compared with 151 bps, while that of fuel product group was 106 bps against 92 bps in October 2016.

The contribution of food items (food articles and food products) to inflation fell to 140 bps in 3.39% in November 2016 compared with 197 bps to 3.39% in October 2016. Meanwhile, the contribution of non-food items (all commodities excluding food items) was 179 bps in November 2016 compared with 144 bps in October 2016.

As per the revised data, the inflation figure for September 2016 was revised up to 3.8% compared with 3.6% reported provisionally.

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Lupin marches ahead after receiving final USFDA approval for generic ointment
Dec 14,2016

The announcement was made during market hours today, 14 December 2016.

Meanwhile, the BSE Sensex was down 26.61 points, or 0.1%, to 26,671.21.

On the BSE, 20,653 shares were traded on the counter so far as against the average daily volumes of 96,866 shares in the past one quarter. The stock had hit a high of Rs 1,509 and a low of Rs 1,482.40 so far during the day. The stock had hit a 52-week high of Rs 1,911.55 on 9 February 2016. The stock had hit a 52-week low of Rs 1,294.05 on 29 March 2016.

The stock had outperformed the market over the past 30 days till 13 December 2016, gaining 2.19% compared with 0.45% decline in the Sensex. The scrip had also outperformed the market in past one quarter, falling 2.67% as against Sensexs 5.84% decline.

The large-cap company has equity capital of Rs 90.27 crore. Face value per share is Rs 2.

Lupin announced that it has received final approval for its Desoximetasone Ointment USP, 0.05% from the United States Food & Drug Administration (USFDA) to market a generic version of Taro Pharms Norths Topicort Ointment, 0.05%. The product filing is from Lupins Pithampur, Indore manufacturing facility.

Lupins Desoximetasone Ointment USP, 0.05% is the AB rated generic equivalent of Taro Pharms Norths Topicort Ointment, 0.05%. It is indicated for the relief of the inflammatory and pruritic manifestations of corticosteroid-responsive dermatoses.

Topicort Ointment had annual US sales of $12.1 million as per the IMS MAT September 2016 data.

Earlier this month, Lupin had received final approval for its Desoximetasone Ointment USP, 0.25% from US FDA to market a generic version of Taro Pharmaceuticals, Inc.s Topicort Ointment, 0.25% having annual US sales of $14.4 million as per the IMS MAT September 2016 data.

Lupins consolidated net profit jumped 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.

Lupin is an innovation led transnational pharmaceutical company developing and delivering a wide range of branded & generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) globally.

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Lupin marches ahead after receiving final USFDA approval for generic ointment
Dec 14,2016

The announcement was made during market hours today, 14 December 2016.

Meanwhile, the BSE Sensex was down 26.61 points, or 0.1%, to 26,671.21.

On the BSE, 20,653 shares were traded on the counter so far as against the average daily volumes of 96,866 shares in the past one quarter. The stock had hit a high of Rs 1,509 and a low of Rs 1,482.40 so far during the day. The stock had hit a 52-week high of Rs 1,911.55 on 9 February 2016. The stock had hit a 52-week low of Rs 1,294.05 on 29 March 2016.

The stock had outperformed the market over the past 30 days till 13 December 2016, gaining 2.19% compared with 0.45% decline in the Sensex. The scrip had also outperformed the market in past one quarter, falling 2.67% as against Sensexs 5.84% decline.

The large-cap company has equity capital of Rs 90.27 crore. Face value per share is Rs 2.

Lupin announced that it has received final approval for its Desoximetasone Ointment USP, 0.05% from the United States Food & Drug Administration (USFDA) to market a generic version of Taro Pharms Norths Topicort Ointment, 0.05%. The product filing is from Lupins Pithampur, Indore manufacturing facility.

Lupins Desoximetasone Ointment USP, 0.05% is the AB rated generic equivalent of Taro Pharms Norths Topicort Ointment, 0.05%. It is indicated for the relief of the inflammatory and pruritic manifestations of corticosteroid-responsive dermatoses.

Topicort Ointment had annual US sales of $12.1 million as per the IMS MAT September 2016 data.

Earlier this month, Lupin had received final approval for its Desoximetasone Ointment USP, 0.25% from US FDA to market a generic version of Taro Pharmaceuticals, Inc.s Topicort Ointment, 0.25% having annual US sales of $14.4 million as per the IMS MAT September 2016 data.

Lupins consolidated net profit jumped 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.

Lupin is an innovation led transnational pharmaceutical company developing and delivering a wide range of branded & generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) globally.

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Geometric provides update on scheme of arrangement and amalgamation
Dec 14,2016

Geometric announced that it has received the approval of the Honble Bombay High Court on 02 December 2016 for the proposed scheme of arrangement and amalgamation among Geometric, HCL Technologies, being listed companies, 3D PLM Software Solutions, an unlisted Company, and their respective shareholders and creditors.

The completion of the scheme is subject to various conditions precedent including the sanction of the Honble Delhi High Court.

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Lupin gets final approval to market generic Topicortn++ Ointment
Dec 14,2016

Lupin announced that it has received final approval for its Desoximetasone Ointment USP, 0.05% mg from the United States Food & Drug Administration to market a generic version of Taro Pharms Norths Topicortn++ ointment, 0.05%.

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Shiva Medicare announces resignation of company secretary
Dec 14,2016

Shiva Medicare announced Karthik Allenkala has resigned from the post of Company Secretary of the Company.

The Board of Directors noted the same in their held board meeting and the same was intimated to the exchange on 06 December 2016 Board Meeting outcome.

Consequent to his resignation as Company Secretary, Karthik Allenkala also ceases to be Compliance Officer of the Company.

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Shashijit Infraprojects secures contract from existing customer
Dec 14,2016

Shashijit Infraprojects has secured another project from its customer, Sanathan Textiles for construction of new cotton warehouse in Silvassa as part of their expansion programme. The project cost is approx. Rs 1.50 crore. The project is likely to be completed by February 2017.

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Rishiroop allots preference shares
Dec 14,2016

Rishiroop announced that the Securities Issue Committee of the Board of Directors of the Company has in the meeting held on 14 December 2016 approved allotment of 1080 equity shares of Rs. 10/- each of the Company to holders of Optionally Convertible Preference Shares (OCPS) who exercised their option to convert their OCPS holding to equity shares as per the terms of the Scheme of Amalgamation (Scheme) sanctioned by the Honble High Court of Judicature at Bombay vide its order dated 08 May 2015, and Honble High Court of Gujarat at Ahmedabad vide its order dated 23 June 2015.

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Arfin India announces resignation of CFO
Dec 14,2016

Arfin India announced that Vijay Lathi has resigned from the Post of Chief Financial Officer of the Company with effect from closure of working hours of 13 December 2016.

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Amforge Industries director resigns
Dec 14,2016

Amforge Industries announced that Sharat Nath, resigned as director from the Board of the Company w.e.f. 21 November 2016.

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Board of Viaan Industries approves sub-division of shares
Dec 14,2016

Viaan Industries announced that The Business Development Committee of Directors in its meeting held on 14 December 2016 has decided the following matters:

- Approved sub-division of equity shares from face value of Rs. 10 per share to face value of Re. 1 per share.

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