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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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Jubilant Life Sciences to acquire radiopharmacy business of Triad Isotopes
May 05,2017

Jubilant Life Sciences announced that Jubilant Pharma, a material wholly owned subsidiary of the Company, through one of its wholly owned subsidiaries, has signed an Asset Purchase Agreement with Triad Isotopes Inc. and its parent, Isotope Holdings, Inc. (n++Triadn++) to acquire substantially all of the assets which comprise the radiopharmacy business of Triad.

The closing of the transaction is subject to customary closing conditions, including contract, regulatory and other approvals. The acquisition will be funded through JPLs internal accruals and is likely to be earnings accretive in the first full year of operations.

Triad recorded revenues in excess of US$ 225 mn in CY2016 with positive EBITDA and operates the second largest radiopharmacy network in the US with more than 50 pharmacies, distributing nuclear medicine products to the largest National GPOs, regional health systems, stand-alone imaging centres, cardiologists and hospitals. The acquisition is a strategic fit to Jubilants niche nuclear medicine business and will provide Jubilant with direct access to hospital networks with ability to deliver more than 3 million patient doses annually through approx. 1,700 customers. The acquisition will facilitate Jubilant forward integrate in the in theradiopharmaceutical business, thereby helping it better directly serve healthcare providers and their patients with high quality radiopharmaceutical products.

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Astec Lifesciences drops after weak Q4 outcome
May 05,2017

The result was announced after market hours yesterday, 4 May 2017.

Meanwhile, the S&P BSE Sensex was down 118.69 points or 0.39% at 30,007.52. The S&P BSE Small-Cap index was down 11.20 points or 0.07% at 15,474.55.

On the BSE, 10,000 shares were traded on the counter so far as against the average daily volumes of 18,437 shares in the past one quarter. The stock had hit a high of Rs 640 and a low of Rs 624 so far during the day. The stock had hit a record high of Rs 694.80 on 20 December 2016 and a 52-week low of Rs 206 on 5 May 2016.

The small-cap company has equity capital of Rs 19.51 crore. Face value per share is Rs 10.

Astec Lifesciences is a producer of agrochemicals and pharmaceutical intermediates.

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Gallantt Ispat shines after strong Q4 result
May 05,2017

The result was announced after market hours yesterday, 4 May 2017.

Meanwhile, the S&P BSE Sensex was down 65.27 points or 0.22% at 30,060.94. The S&P BSE Small-Cap index was up 15.03 points or 0.1% at 15,500.78.

On BSE, so far 4,772 shares were traded in the counter as against average daily volume of 12,265 shares in the past one quarter. The stock hit a high of Rs 256 and a low of Rs 250 so far during the day. The stock had hit a record high of Rs 690 on 24 May 2016. The stock had hit a 52-week low of Rs 228 on 11 April 2017.

The small-cap company has equity capital of Rs 28.24 crore. Face value per share is Rs 10.

Gallantt Ispat is engaged in the manufacture of all kinds of iron and steel products such as sponge iron, pellets, pig iron, cast iron, bars, rods, billets, captive power plant and wheat products.

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Emami, Wockhardt to be watched after Q4 results
May 05,2017

Emamis consolidated net profit rose 1.47% to Rs 83.32 crore on 4.4% decline in net total income from operations to Rs 577.72 crore in Q4 March 2017 over Q4 March 2016. The announcement was made after market hours yesterday, 4 May 2017.

Wockhardt reported consolidated net loss of Rs 174.72 crore in Q4 March 2017, higher than net loss of Rs 5.38 crore in Q4 March 2016. Total income fell 10.53% to Rs 919.82 crore in Q4 March 2017 over Q4 March 2016. The announcement was made after market hours yesterday, 4 May 2017.

Tata Communications reported consolidated net loss of Rs 260.81 crore in Q4 March 2017, higher than net loss of Rs 256.95 crore in Q4 March 2016. Total income rose 7.64% to Rs 5116.48 crore in Q4 March 2017 over Q4 March 2016. The announcement was made after market hours yesterday, 4 May 2017.

Multi Commodity Exchange of Indias (MCX) net profit dropped 50.78% to Rs 21.88 crore on 19.46% decline in total income to Rs 86.90 crore in Q4 March 2017 over Q4 March 2016. The announcement was made after market hours yesterday, 4 May 2017.

Oberoi Realtys consolidated net profit surged 50.29% to Rs 101.82 crore on 24.73% rise in total income to Rs 302 crore in Q4 March 2017 over Q4 March 2016. The announcement was made after market hours yesterday, 4 May 2017.

Wipro announced that it has joined Enterprise Ethereum Alliance (EEA) as a founding member. EEA is a collaboration of enterprises to promote, develop and implement enterprise grade Ethereum based blockchain applications across industries for specific business use cases. The announcement was made after market hours yesterday, 4 May 2017.

Karnataka Bank announced that it opened its 767th branch at Nasik-Indira Nagar on 4 May 2017. The announcement was made after market hours yesterday, 4 May 2017.

Varun Beverages announced that the company has set up a new unit for manufacturing of Pepsi range of products at District Hardoi, Uttar Pradesh and the commercial production/operation has started with effect from 3 May 2017. The announcement was made after market hours yesterday, 4 May 2017.

Eicher Motors, Shoppers Stop, Monsanto, Blue Dart Express, Apollo Tyres and Sanofi India among others will declare their March 2017 quarterly earnings today, 5 May 2017.

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Varun Beverages commences operations at new manufacturing facility
May 04,2017

Varun Beverages has set up a new unit for manufacturing of Pepsi range of products at District Hardoi, Uttar Pradesh and the commercial production / operation has started with effect from 03 May, 2017.

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Board of Ankush Finstock accepts resignation of director
May 04,2017

The Board of Directors of Ankush Finstock has accepted resignation of Nishant Bharatbhai Vardhmani (DIN: 00168683), Independent Director of the Company at meeting held on 04 May 2017.

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Karnataka Bank opens 767th branch
May 04,2017

Karnataka Bank has opened its 767th branch at Nashik, Indra Nagar on 04 May 2017.

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Board of Proseed India decides to withdraw proposed rights issue
May 04,2017

Proseed India announced that the Board of Directors at its meeting held on 04 May 2017 has decided to withdraw the proposed rights issue and has discussed other options to raise further capital for implementation of the project.

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GRUH Finance allots 295540 equity shares
May 04,2017

GRUH Finance has allotted 295540 equity shares pursuant to exercise of options under ESOS. Post the allotment, the paid up equity share capital has increased to 36,48,60,024 equity shares of Rs 2 each.

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Sang Froid Labs (India) appoints director
May 04,2017

Sang Froid Labs (India) has appointed Chandubhai Nanubhai Dobariya was appointed as Non Executive Director of the company w.e.f 08 April 2017.

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Board of Bank of Maharashtra approves raising of equity capital up to Rs 2000 crore
May 04,2017

Bank of Maharashtra announced that the Board of Directors of the bank at its meeting held on 04 May 2017 approved the following -

No dividend is declared by the Bank for FY 2017.

To raise equity capital in aggregate up to Rs 2000 crore by way of preferential allotment or QIP/ FPO/ rights issue etc.

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Rupee stuck in ranges
May 04,2017

Rupee closed slightly higher at 64.3625/3650 per dollar on Thursday (04 May 2017), versus its previous close of 64.3650/3675 per dollar.

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IIFL Holdings consolidated net profit rises 36.58% in the March 2017 quarter
May 04,2017

Net profit of IIFL Holdings rose 36.58% to Rs 186.36 crore in the quarter ended March 2017 as against Rs 136.45 crore during the previous quarter ended March 2016. Sales rose 27.75% to Rs 1400.94 crore in the quarter ended March 2017 as against Rs 1096.65 crore during the previous quarter ended March 2016.

For the full year,net profit rose 34.22% to Rs 686.09 crore in the year ended March 2017 as against Rs 511.18 crore during the previous year ended March 2016. Sales rose 24.31% to Rs 4912.37 crore in the year ended March 2017 as against Rs 3951.76 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales1400.941096.65 28 4912.373951.76 24 OPM %66.7464.07 -68.3565.23 - PBDT377.43255.31 48 1277.96908.40 41 PBT363.07239.06 52 1223.99842.31 45 NP186.36136.45 37 686.09511.18 34

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Emami consolidated net profit rises 1.47% in the March 2017 quarter
May 04,2017

Net profit of Emami rose 1.47% to Rs 83.32 crore in the quarter ended March 2017 as against Rs 82.11 crore during the previous quarter ended March 2016. Sales declined 4.14% to Rs 577.58 crore in the quarter ended March 2017 as against Rs 602.53 crore during the previous quarter ended March 2016.

For the full year,net profit declined 6.36% to Rs 340.42 crore in the year ended March 2017 as against Rs 363.53 crore during the previous year ended March 2016. Sales rose 5.71% to Rs 2529.73 crore in the year ended March 2017 as against Rs 2393.05 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales577.58602.53 -4 2529.732393.05 6 OPM %30.8431.03 -30.0128.72 - PBDT170.49181.95 -6 732.20677.70 8 PBT94.1392.30 2 423.62422.77 0 NP83.3282.11 1 340.42363.53 -6

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R Systems International consolidated net profit declines 31.15% in the March 2017 quarter
May 04,2017

Net profit of R Systems International declined 31.15% to Rs 5.26 crore in the quarter ended March 2017 as against Rs 7.64 crore during the previous quarter ended March 2016. Sales rose 1.71% to Rs 144.30 crore in the quarter ended March 2017 as against Rs 141.87 crore during the previous quarter ended March 2016.

ParticularsQuarter Endedn++Mar. 2017Mar. 2016% Var. Sales144.30141.87 2 OPM %8.1210.06 - PBDT12.7315.45 -18 PBT9.8912.62 -22 NP5.267.64 -31

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