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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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Photon Capital Advisors to declare Quarterly Result
Jul 28,2017

Photon Capital Advisors will hold a meeting of the Board of Directors of the Company on 3 August 2017.

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Saumya Consultants to announce Quarterly Result
Jul 28,2017

Saumya Consultants will hold a meeting of the Board of Directors of the Company on 11 August 2017, to consider and approve the Unaudited Financial Results of the Company, and Consideration and approval of Notice of 24th AGM.

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Silicon Valley Infotech to hold board meeting
Jul 28,2017

Silicon Valley Infotech will hold a meeting of the Board of Directors of the Company on 10 August 2017, to consider and take on record the Unaudited Financial Results of the Company for the quarter ended 30th June 2017

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ONGC drops after reporting dismal Q1 results
Jul 28,2017

The result was announced after market hours yesterday, 27 July 2017.

Meanwhile, the S&P BSE Sensex was down 98.53 points or 0.3% at 32,284.77.

On the BSE, 1.87 lakh shares were traded on the counter so far as against the average daily volumes of 9.48 lakh shares in the past one quarter. The stock had hit a high of Rs 162.15 and a low of Rs 160.35 so far during the day. The stock had hit a 52-week high of Rs 212 on 31 January 2017 and a 52-week low of Rs 145.23 on 2 August 2016.

The stock had underperformed the market over the past one month till 27 July 2017, rising 2.19% compared with 4.6% rise in the Sensex. The scrip also underperformed the market in past one quarter, dropping 8.97% as against Sensexs 7.84% rise. The scrip had also underperformed the market in past one year, gaining 9.97% as against Sensexs 15.55% rise.

The large-cap company has equity capital of Rs 6416.62 crore. Face value per share is Rs 5.

ONGCs net nominated crude oil realisation rose to $51.03 per barrel in Q1 June 2017 from $46.10 per barrel in Q1 June 2016.

ONGC is Indias largest oil and gas exploration firm by sales. The Government of India held 68.07% stake in ONGC as per the shareholding pattern as on 30 June 2017.

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Astrazeneca Pharma India intimates of delay on termination of distribution arrangements for Menorem in India
Jul 28,2017

Astrazeneca Pharma India announced that it has received a letter from AstraZeneca UK to further extend the date of withdrawal of Meronem from 31 July 2017 to 31 August 2017, due to delay in the divestment of AstraZenecas global rights to Meronem.

In August 2016, Astrazeneca had announced the termination of distribution arrangement by AstraZeneca UK for Meronem in India, pursuant to a global agreement by AstraZeneca PLC to sell the development and commercialisation rights to Pfizer Inc., of its late stage small molecule antibiotics business.

Further in December 2016, the validity period of the distribution agreement was extended till 31 July 2017, due to delay in the divestment of AstraZenecas global rights to Meronem.

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ITC nudges higher after reporting small rise in PAT in Q1
Jul 28,2017

The result was announced after market hours yesterday, 27 July 2017.

Meanwhile, the S&P BSE Sensex was down 144.43 points or 0.45% at 32,238.87.

On the BSE, 3.3 lakh shares were traded on the counter so far as against the average daily volumes of 12.56 lakh shares in the past one quarter. The stock had hit a high of Rs 294.90 and a low of Rs 289.90 so far during the day. The stock had hit a record high of Rs 353.20 on 3 July 2017. The stock had hit a 52-week low of Rs 222.05 on 26 December 2016.

The stock had underperformed the market over the past one month till 27 July 2017, sliding 7.38% compared with 4.6% rise in the Sensex. The scrip also underperformed the market in past one quarter, rising 1.25% as against Sensexs 7.84% rise. The scrip, however, outperformed the market in past one year, gaining 16.51% as against Sensexs 15.55% rise.

The large-cap company has equity capital of Rs 1216.18 crore. Face value per share is Re 1.

ITC said that it has delivered a steady performance in Q1 June 2017 against the backdrop of a challenging business environment marked by continuing pressure on the legal cigarette industry, sluggishness in demand for FMCG products exacerbated by destocking in trade channels ahead of implementation of GST. Also, there was subdued demand conditions and unabsorbed capacity in the domestic paperboard industry and lower crop output and adverse quality of the Andhra leaf tobacco crop due to draught in 2016.

The ban imposed by the Supreme Court on sale of liquor at outlets in close proximity to highways adversely impacted some of the companys hotel properties besides reducing offtake of carton packaging by customers in the liquor industry.

The company said that increase in excise duty on cigarette industry in February 2017, the revised rates under the GST regime and revised rates of compensation cess announced by GST Council will increase the tax burden of the cigarette business by 20%.

ITC is a diversified company, with presence in cigarettes, hotels, paperboards & specialty papers, packaging, agri-business, packaged foods & confectionery, information technology, branded apparel, personal care, stationery and other FMCG products. ITC is a market leader in cigarettes.

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Shree Renuka Sugars announces additional investment by Wilmar Sugar Holdings
Jul 28,2017

Shree Renuka Sugars announced Preferential Issue of upto 50,00,00,000 0.01% Compulsorily Convertible Preference Shares (CCPS) of Rs. 16.27 each, at par, to Wilmar Sugar Holdings (WSH), Singapore. The investment is subject to the successful completion of a debt restructuring package which would entail, among other things:

(i) WSH making an additional investment of Rs 783.96 Crores in SRSL (n++Infusionn++) for the purpose of up-front repayment and settlement of part of the Debts and to fund working capital requirements of SRSL;
(ii) lenders converting part of the Debts into equity shares and convertible securities of SRSL;
(iii) waiver of part of the Debts; and
(iv) restructuring of the remaining Debts through changes in the payment terms on the terms of a restructuring package (n++Restructuring Packagen++).

Completion of the issue is subject to fulfillment of conditions precedent set out in the Subscription Agreement, which include, inter alia, the receipt of approvals from shareholders of SRSL, the Reserve Bank of Indias Oversight Committee on the Restructuring Package, and anti-trust clearances from the relevant competition authorities.

The Company hopes that this exercise, once completed, would significantly pare its debt burden and interest cost in India and would also free the Company of all guarantees and obligations related to its overseas subsidiaries.

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Shares of Avadh Sugar & Energy get listed
Jul 28,2017

The equity shares of Avadh Sugar & Energy (Scrip Code: 540649) are listed effective 28 July 2017 and admitted to dealings on the Exchange in the list of T Group Securities

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Shares of Ganges Securities get listed
Jul 28,2017

The equity shares of Ganges Securities (Scrip Code: 540647) are listed effective 28 July 2017 and admitted to dealings on the Exchange in the list of T Group Securities.

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Sagar Cements spurts after turnaround Q1 earnings
Jul 28,2017

The result was announced after market hours yesterday, 27 July 2017.

Meanwhile, the S&P BSE Sensex was down 176.54 points, or 0.55% at 32,206.76. The S&P BSE Small-Cap index was down 10.81 points, 0.07% at 16,004.66.

On the BSE, 1,503 shares were traded on the counter so far as against the average daily volumes of 8,121 shares in the past one quarter. The stock had hit a high of Rs 885 and a low of Rs 845.25 so far during the day. The stock had hit a record high of Rs 940 on 16 May 2017 and hit a 52-week low of Rs 572.50 on 11 August 2016.

The small-cap company has equity capital of Rs 20.40 crore. Face value per share is Rs 10.

Sagar Cements said that the outlook remains positive on the expectation of normal monsoon, governments focus on infrastructure and affordable housing.

Commenting on the performance, Sreekanth Reddy, Executive Director, Sagar Cements, said the company benefitted from steady demand and better pricing environment in primary markets, with minimal disturbances surrounding GST implementation.

Sagar Cements is engaged in manufacturing of cement.

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Shares of Palash Securities get listed
Jul 28,2017

The equity shares of Palash Securities (Scrip Code: 540648) are listed effective 28 July 2017 and admitted to dealings on the Exchange in the list of T Group Securities.

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NITSER (National Institutes of Technology, Science Education and Research) Amendment Bill passed in Rajya Sabha
Jul 28,2017

NITSER (National Institutes of Technology, Science Education and Research) Amendment Bill was passed in Rajya Sabha on 26 July 2017. The Bill was passed in the Lok Sabha on 28 March 2017. Dr. Mahendra Nath Pandey, Minister of State (HRD) in Rajya Sabha informed that the Bill proposes to introduce two new Institutions namely Indian Institute of Science Education and Research (IISER) Tirupati and IISER Berhampur in the Second Schedule of the NITSER Act, 2007.

Five IISERs at Kolkata (2006), Pune (2006), Mohali (2007), Bhopal (2008) and Thiruvananthapuram (2008) mandated with promoting quality education and research in the sciences were established. With the establishment of the two new IISERs there are now seven IISERs.

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Shares of Magadh Sugar & Energy get listed
Jul 28,2017

The equity shares of Magadh Sugar & Energy (Scrip Code: 540650) are listed effective 28 July 2017 and admitted to dealings on the Exchange in the list of T Group Securities.

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Shares of Jigar Cables get listed
Jul 28,2017

The equity shares of Jigar Cables (Scrip Code: 540651) are listed effective 28 July 2017 and admitted to dealings on the Exchange in the list of M Group Securities.

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Balaji Amines slumps after poor Q1 outcome
Jul 28,2017

The announcement was made after market hours yesterday, 27 July 2017.

Meanwhile, the S&P BSE Sensex was down 188.33 points, or 0.58% to 32,194.97. The S&P BSE Small-Cap index was down 44.05 points, or 0.28% at 15,971.42.

On the BSE, 255 shares were traded in the counter so far, compared with average daily volumes of 6,610 shares in the past one quarter. The stock had hit a high of Rs 325 and a low of Rs 315 so far during the day. The stock hit a record high of Rs 401.10 on 24 April 2017. The stock hit a 52-week low of Rs 269.40 on 27 July 2016.

The small-cap company has equity capital of Rs 6.48 crore. Face value per share is Rs 2.

Balaji Amines makes methylamines, ethylamines, derivatives of specialty chemicals and natural products.

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