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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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Board of 20 Microns to consider December quarter results
Feb 02,2017

20 Microns announced that the Meeting of the Board of Directors of the Company will be held on 09 February 2017, inter alia, to consider and approve the Un-Audited Financial Results of the Company for the Quarter ended on 31 December 2016.

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BASF India declines after reporting losses in Q3
Feb 02,2017

The result was announced after market hours yesterday, 1 February 2017.

Meanwhile, the S&P BSE Sensex was down 52.68 points or 0.19% at 28,088.96.

On the BSE, 2,970 shares were traded in the counter so far as against average daily volume of 3,012 shares in the past one quarter. The stock had hit a high of Rs 1,280.40 and a low of Rs 1,245 so far during the day. The stock had hit a 52-week high of Rs 1,340 on 30 January 2017. The stock had hit a 52-week low of Rs 699.90 on 12 February 2016.

It had outperformed the market over the past one month till 1 February 2017, rising 12.06% compared with the Sensexs 5.69% gains. The scrip had also outperformed the market over the past one quarter gaining 3.91% as against the Sensexs 0.95% rise.

The mid-cap company has equity capital of Rs 43.29 crore. Face value per share is Rs 10.

BASF Indias total income from operations rose 0.03% to Rs 1217.84 crore in Q3 December 2016 over Q3 December 2015.

BASF India is a leading transnational company in the Indian chemical industry.

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Kwality commences commercial production at Softa plant in Haryana
Feb 02,2017

Kwality has begun commercial production at its new unit at Softa plant, Haryana today which is being setn++]up primarily for manufacturing of valuen++]added products such as Flavoured Milk, Paneer, Cheese, UHT milk, Cream in tetra packs, Tablen++]Butter, Yoghurts, amongst others.

The new unit, when fully operational, to have milk handling capacity of 0.9 Mn litres/day primarily for valuen++]added products with total capital outlay of approx. Rs 400 crore. With this unit, cumulative milk processing capacity of Kwality would reach 4.3 Mn litres/day across its six plants

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Hotel Leela Venture to announce December quarter results
Feb 02,2017

Hotel Leela Venture announced that a meeting of the Board of Directors of the Company is scheduled to be held on 10 February 2017, inter alia, to consider the unaudited financial results of the Company for the third quarter and nine month period ended 31 December 2016.

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Prakash Industries to announce December quarter results
Feb 02,2017

Prakash Industries announced that a meeting of the Board of Directors of the Company will be held on 14 February 2017, inter alia, to consider Unaudited Financial Results with Limited Review for the quarter / nine months ended 31 December 2016.

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Board of Capital Trust to consider December quarter results
Feb 02,2017

Capital Trust announced that a meeting of Board of Directors of the Company is scheduled to be held on 09 February 2017, inter alia, to consider and approve the un-audited financial results of the Company for the quarter ended 31 December 2016.

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Board of State Trading Corporation of India to consider December quarter results
Feb 02,2017

State Trading Corporation of India announced that the meeting of the Board of Directors of the Company will be held on 14 February 2017, inter alia, to consider, approve and take on record the Unaudited Financial Results (Reviewed) prepared on standalone basis for the quarter & nine months year ended 31 December 2016.

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Steel Strips Wheels announces sales performance
Feb 02,2017

Steel Strips Wheels achieved total wheel rim sales of 11.66 lakh in January 2017 compared to 11.28 lakh in January 2016, recording a growth of 3.5%. The Company achieved 6% growth in net turnover to 107.65 crore in January 2017 over January 2016.

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Board of Sambhaav Media to consider Q3 and 9M results
Feb 02,2017

Sambhaav Media announced that the meeting of the Board of Directors of the Company is scheduled to be held on 08 February 2017, to consider and approve Unaudited Financial Results for the quarter/ nine months ended on 31 December 2016.

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National General Industries to consider Q3 and 9M results
Feb 02,2017

National General Industries announced that a meeting of the Board of Directors of the Company will be held on 13 February 2017, inter alia, to approve and take on record the Un-audited Financial Results for the quarter and nine months ended on 31 December 2016.

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Bharat Heavy Electricals appoints director
Feb 02,2017

Bharat Heavy Electricals announced Surama Padhy has been appointed as Part-time Non- Official Director (Independent Director) on the Board of BHEL w.e.f. 02 February 2017.

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Tata Global Beverages jumps after strong Q3 earnings
Feb 02,2017

The result was announced after market hours yesterday, 1 February 2017.

Meanwhile, the S&P BSE Sensex was down 63.55 points or 0.23% at 28,078.09.

On the BSE, 5.03 lakh shares were traded on the counter so far as against the average daily volumes of 2.42 lakh shares in the past one quarter. The stock had hit a high of Rs 137.90 and a low of Rs 132.30 so far during the day.

The stock had hit a 52-week high of Rs 157.65 on 19 October 2016 and a 52-week low of Rs 100.10 on 12 February 2016. The stock had outperformed the market over the past one month till 1 February 2017, advancing 6.72% compared with the Sensexs 5.69% rise. The scrip had, however, underperformed the market over the past one quarter, sliding 6.09% as against the Sensexs 0.95% rise.

The mid-cap company has equity capital of Rs 63.11 crore. Face value per share is Rs 1.

The companys bottom line growth during the quarter was due to improved operating performance and favourable impact of exceptional items.

Ajoy Misra, Managing Director and CEO of Tata Global Beverages said the company recorded significant profit growth in Q3 December 2016 despite higher spends behind brands. Tata Global Beverages is leveraging consumer insights to create magical beverage moments for its consumers. Whether it is capturing white spaces in target markets or strengthening its key brands further, the companys product and marketing initiatives aim to break clutter and enhance the consumer experience. Along with its tea portfolio, it is focusing on steadily scaling its coffee and water portfolio by creating differentiated brands in these categories, Misra said.

Tata Global Beverages is engaged in global beverage business with brand presence in over 40 countries. It has significant interests in tea, coffee and water and is the worlds second largest tea company.

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Dishman Pharmaceuticals edges higher after receiving EIR report for facility
Feb 02,2017

The announcement was made before market hours today, 2 February 2017.

Meanwhile, the BSE Sensex was down 10.61 points, or 0.04%, to 28,131.03.

On the BSE, 94,532 shares were traded in the counter so far, compared with average daily volume of 1.79 lakh shares in the past one quarter. The stock had hit a high of Rs 238.35 and a low of Rs 233.15 so far during the day. The stock had hit a record high of Rs 267.95 on 30 September 2016. The stock had hit a 52-week low of Rs 127.60 on 24 June 2016.

It had underperformed the market over the past one month till 1 February 2017, rising 5.61% compared with the Sensexs 5.69% gains. The scrip had also underperformed the market over the past one quarter declining 9.67% as against the Sensexs 0.95% rise.

The mid-cap company has an equity capital of Rs 32.28 crore. Face value per share is Rs 2.

Dishman Pharmaceuticals and Chemicals announced that the company has received the Establishment Inspection Report (EIR) from the United States Food & Drug Administration (USFDA) for Bavla facility on 1 February 2017.

Bavla facility in Gujarat was successfully inspected by the USFDA in July 2016, which was intimated to the stock exchanges on 9 July 2016. Thus, the companys facilities in Bavla, Naroda and Switzerland continue to be approved by the USFDA.

Dishman Pharmaceuticals consolidated net profit rose 97.2% to Rs 54.68 crore on 14.5% rise in net sales to Rs 426.94 crore in Q2 September 2016 over Q2 September 2015.

Dishman Pharmaceuticals acts as a full fledged CRAMS (contract research and manufacturing services) partner for global pharma innovators. It also makes phase transfer catalysts, Vitamin D, Vitamin D analogues, cholesterol, laolin related products, antiseptic and disinfectant formulations for pharmaceutical, cosmetic and related markets. The company also makes generic active pharmaceutical ingredients (API) and intermediates for the pharmaceutical industries.

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Global Offshore Services provides financial update
Feb 02,2017

Global Offshore Services announced that in view of the sudden repricing of contracts by the Companys clients, even though all the Companys assets are deployed on term contracts, the cash flow of the Company has been severely affected over the past few months. As a result the Company had approached its main Lender viz., State Bank of India to reschedule the loan instalments to be repaid.

Inspite of protracted discussions with the Bank and a commitment to continue paying interest, the Company and the Bank have not been able to arrive at mutually acceptable terms for re-schedulement of the loans and as a result of non-payment of the past 3 months instalments, State Bank of India has classified the account of the Company as a nonperforming asset with effect from 29 January 2017.

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Board of Chokhani International to consider December quarter results
Feb 02,2017

Chokhani International announced that the meeting of the Board of Directors of the Company will be held on 10 February 2017, inter alia, to consider and approve the Un - audited Financial Results for the quarter ended 31 December 2016.

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