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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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Lupin to announce Q3 results
Jan 23,2017

Lupin announced that a meeting of the Board of Directors of the Company will be held on 09 February 2017, inter alia, to consider and take on record the unaudited financial results for the quarter ended 31 December 2016 (Q3).

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Makers Laboratories Board to consider Q3 and 9M results
Jan 23,2017

Makers Laboratories announced that a meeting of the Board of Directors of the Company will be held on 03 February 2017, inter alia, to consider and take on record the Unaudited Financial Results for the 3rd quarter and nine months ended 31 December 2016 of the financial year 2016-17.

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North Eastern Carrying Corporation secures Rs 400 crore contract
Jan 23,2017

North Eastern Carrying Corporation announced that the Company has been awarded contract of worth Rs. 400 crore from Tata Steel for bulk movement of its raw materials from its mines located at Joda and Sukhinda, situated in Orissa.

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Rama Phosphates to announce December quarter results
Jan 23,2017

Rama Phosphates announced that the Board of Directors of the Company will meet on 11 February 2017, to consider and approve the Unaudited Financial Results for the quarter ended 31 December 2016.

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Board of Akzo Nobel India to consider December quarter results
Jan 23,2017

Akzo Nobel India announced that a meeting of the Board of Directors of the Company is scheduled to be held on 31 January 2017, to consider, inter alia, unaudited financial results of the Company for the quarter ended 31 December 2016.

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Texmaco Rail & Engineering signs non-binding agreement with TEB Technology Development Co., China
Jan 23,2017

Texmaco Rail & Engineering announced that the company has signed a non-binding Memorandum with TEB Technology Development Co., China for promotion and development of (Transit Elevated Bus - TEB) BOT Project in the state of West Bengal on 21 January 2017.

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Amara Raja Batteries slips after weak Q3 results
Jan 23,2017

The result was announced on Sunday, 22 January 2017.

Meanwhile, the BSE Sensex was up 62.49 points, or 0.23%, to 27,096.99.

On the BSE, so far 21,000 shares were traded in the counter, compared with average daily volumes of 16,530 shares in the past one quarter. The stock had hit a high of Rs 898 and a low of Rs 857.25 so far during the day.

The stock hit a 52-week high of Rs 1,077 on 6 September 2016. The stock hit a 52-week low of Rs 803.80 on 12 February 2016. The stock had underperformed the market over the past 30 days till 20 January 2017, rising 3.92% compared with the 4.06% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 11.97% as against Sensexs 3.71% decline.

The large-cap company has equity capital of Rs 17.08 crore. Face value per share is Re 1.

Amara Raja Batteries is one of the largest manufacturers of lead acid batteries for both industrial and automotive applications in the Indian storage battery industry.

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JK Paper advances after strong Q3 earnings
Jan 23,2017

The result was announced on Saturday, 21 January 2017.

Meanwhile, the S&P BSE Sensex was up 91.84 points or 0.34% at 27,126.34.

On the BSE, 1.81 lakh shares were traded on the counter so far as against the average daily volumes of 1.60 lakh shares in the past one quarter. The stock had hit a high of Rs 98.85 and a low of Rs 96.50 so far during the day.

The stock had hit a record high of Rs 101.80 on 3 November 2016 and a 52-week low of Rs 40.30 on 29 February 2016. The stock had outperformed the market over the past one month till 20 January 2017, advancing 9.01% compared with the Sensexs 2.76% rise. The scrip had also outperformed the market over the past one quarter gaining 20.87% as against the Sensexs 3.89% fall.

The small-cap company has equity capital of Rs 155.96 crore. Face value per share is Rs 10.

JK Paper is Indias leading branded paper company and the largest producer of photocopier paper.

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United Spirits jumps after strong Q3 results
Jan 23,2017

The result was announced on Saturday, 21 January 2017.

Meanwhile, the BSE Sensex was up 93.60 points, or 0.35%, to 27,128.10.

On the BSE, so far 57,000 shares were traded in the counter, compared with average daily volumes of 33,773 shares in the past one quarter. The stock had hit a high of Rs 2,179.95 and a low of Rs 2,128.25 so far during the day.

The stock hit a 52-week high of Rs 2,864.75 on 25 January 2016. The stock hit a 52-week low of Rs 1,775.05 on 22 November 2016. The stock had outperformed the market over the past 30 days till 20 January 2017, rising 10.28% compared with the 4.06% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 12.92% as against Sensexs 3.71% decline.

The large-cap company has equity capital of Rs 145.33 crore. Face value per share is Rs 10.

United Spirits said that its net sales grew marginally by 3% in Q3 December 2016 over Q3 December 2015, due to de-monetization. Earnings before interest, tax, depreciation and amortization (EBITDA) rose 10% to Rs 294 crore in Q3 December 2016 over Q3 December 2015, driven by top line growth and lower staff costs.

Recently some media reports suggested that Diageo Plc was considering increasing its majority stake in United Spirits. Diageo is reportedly planning an open offer to the other shareholders in United Spirits. United Spirits, however, clarified to the bourses that it was not aware of this development and it does not wish to comment on rumors.

Relay B.V., an indirect wholly-owned subsidiary of Diageo Plc, holds 54.78% stake in United Spirits (as per the shareholding pattern as on 31 December 2016). Under Indian stock market regulations, Diageo could raise its stake to just under 75% without triggering a delisting offer.

Diageo gained complete control of the board of United Spirits post the exit of Dr Vijay Mallya from his position as chairman and non-executive director of United Spirits in February 2016.

United Spirits makes alcoholic beverages. It is a subsidiary of British multinational Diageo plc.

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Amara Raja Batteries announces change in nominee directors
Jan 23,2017

Amara Raja Batteries announced the resignation of Shuqing Yang as Non Executive Director from the Board with effect from 22 January 2017, due to change in nomination by Johnson Controls (Mauritius). Trent Moore Nevill has been appointed as an additional director with effect from 22 January 2017 consequent to resignation of Shuqing Yang from the Board.

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Cyient commences operations from TSIIC Incubation Center, Warrangal
Jan 23,2017

Cyient announced that it has commenced operations in Warangal from the Incubation Center of the Telangana State Industrial Infrastructure Corporation (TSIIC). Cyient has established a Center of Excellence (CoE) in TSIIC Incubation Center to help its Communications business expand operations for its global client base. The CoE will undertake fiber and coaxial network planning and design, MDU engineering, cell site design and drafting, RF planning, and network optimization services. Cyient will also leverage the Center to provide geospatial services and solutions for the companys Smart City engagements.

Cyient has already laid a foundation stone for a 70,000 square feet state-of-the-art Technology Development Center in Warangal, in the Madikonda Special Economic Zone (SEZ) of the Telangana State Industrial Infrastructure Corporation (TSIIC), which will become operational within the next 18 to 24 months. Once the center is operational, the company will ramp up operations in the region by employing around 1,000 professionals who will work on advanced geographic information systems (GIS), remote sensing, LiDAR, and photogrammetry technologies that address requirements of the rail transportation, utilities, and communications sectors. The facility spread over a 5-acre area will support Cyients worldwide digital technology initiatives in areas like Internet of Things, Analytics, and Smart Cities.

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Board of Mercury Laboratories to consider December quarter results
Jan 23,2017

Mercury Laboratories announced that a Meeting of the Board of Directors of the Company is scheduled to be held on 31 January 2017, inter alia, to consider and approve the audited Financial Results of the Company for the quarter ended on 31 December 2016 subject to audit review by the statutory auditors.

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UltraTech Cement gains after announcing Q3 results
Jan 23,2017

The result was announced on Saturday, 21 January 2017.

Meanwhile, the S&P BSE Sensex was down 32.55 points or 0.12% at 27,001.95.

On the BSE, 8,574 shares were traded on the counter so far as against the average daily volumes of 13,878 shares in the past one quarter. The stock had hit a high of Rs 3,534.75 and a low of Rs 3,482 so far during the day.

The stock had hit a record high of Rs 4,130 on 8 September 2016 and a 52-week low of Rs 2,646.80 on 21 January 2016. The stock had outperformed the market over the past one month till 20 January 2017, advancing 10.21% compared with the Sensexs 2.76% rise. The scrip had, however, underperformed the market over the past one quarter declining 13.42% as against the Sensexs 3.89% fall.

The large-cap company has equity capital of Rs 274.48 crore. Face value per share is Rs 10.

UltraTech Cements board at its meeting held on Saturday, 21 January 2017, inter alia, approved setting up of a 3.5 million tonnes per annum (MTPA) integrated cement plant at Dhar, Madhya Pradesh at a total cost of around Rs 2600 crore.

Commercial production from the plant is expected to commence by Q4 March 2019. This plant will help in reduction of lead distance and cater to the markets of south-west Madhya Pradesh, where the company is not a significant player.

With this expansion and the acquisition of the cement plants of Jaiprakash Associates, the companys cement capacity will stand augmented to 95 MTPA including its overseas operations.

Going forward, continuing government spending on infrastructure, development of smart cities, interest rate cuts supported by interest subsidy schemes for housing will be the key cement demand drivers.

UltraTech Cement is a leading cement manufacturer in India. It is a part of the Aditya Birla Group.

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Trident gets coveted Gold Seal certification
Jan 23,2017

Trident announced that the Cotton Egypt Association has accredited the Company with its coveted Gold Seal for Tridents Yarn as well as Terry Towel products. The Gold Seal certification is conferred after exhaustive DNA testing of the Companys products.

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Goldcrest Corporation to announce December quarter results
Jan 23,2017

Goldcrest Corporation announced that the Meeting of the Board of Directors of the Company will be held on 31 January 2017, inter alia, to consider:

1. Standalone Un-Audited Financial Results for the quarter ended 31 December 2016 along with Limited Review Report;

2. Consolidated Un-Audited Financial Results for the quarter ended 31 December 2016 along with Limited Review Report.

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