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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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Zydus Cadila receives final approval for Eletriptan Hydrobromide Tablets
Jun 19,2017

Zydus Cadila has received the final approval from the USFDA to market Eletriptan Hydrobromide Tablets, 20 mg (base) and 40 mg (base). The drug which is used in treatment of migraine, will be produced at the groups formulations manufacturing facility at the Pharma SEZ in Ahmedabad.

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Tata Communications wins five awards
Jun 19,2017

Tata Communications received top honors at the 2017 Frost & Sullivan India Digital Transformation Awards, with four awards in the Enterprise Telecom Services category and one award in the Enterprise Infrastructure category. Tata Communications took centerstage at the awards ceremony and received four Service Provider of the Year awards for: (1) Enterprise Data (2) Hosted Contact Center (3) Enterprise Telecom - Large Enterprise Segment, and (4) Third Party Datacenter. It also won NewProduct/Service Innovation Award for IoT - a new award category this year.

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Nucleus Software advances as after fixing record date for buyback of shares
Jun 19,2017

The announcement was made after market hours on Friday, 16 June 2017.

Meanwhile, the S&P BSE Sensex was up 127.59 points, or 0.41% at 31,183.99. The S&P BSE Small-cap index was up 13.43 points, or 0.09% at 15,680.67.

On the BSE, 14,000 shares were traded on the counter so far as against the average daily volumes of 22,814 shares in the past one quarter. The stock had hit a high of Rs 342 and a low of Rs 335.95 so far during the day. The stock had hit a 52-week high of Rs 343.90 on 22 May 2017 and a 52-week low of Rs 171 on 29 September 2016.

The stock had underperformed the market over the past one month till 16 June 2017, sliding 0.15% compared with the Sensexs 1.55% rise. The scrip had, however, outperformed the market over the past one quarter advancing 32.3% as against the Sensexs 4.97% rise. The scrip had also outperformed the market over the past one year advancing 63.17% as against the Sensexs 17.08% rise.

The small-cap company has equity capital of Rs 32.38 crore. Face value per share is Rs 10.

Nucleus Software Exports said that the buyback committee of the board at its meeting held on Friday, 16 June 2017 has fixed 30 June 2017 as the record date for the buyback of equity shares. The board has approved buyback of upto 33.43 lakh equity shares representing upto 10.32% of the total paid-up equity share capital of the company. The buyback price is Rs 350 per share for an aggregate amount not exceeding Rs 117 crore which is 24.83% of the paid-up equity share capital and free reserves of the company for the financial year ended 31 March 2017.

Nucleus Software Exports consolidated net profit rose 39.82% to Rs 22.26 crore on 0.59% increase in net sales to Rs 93.69 crore in Q4 March 2017 over Q3 December 2016.

Nucleus Software Exports is the leading provider of lending and transaction banking products to the global financial services industry.

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Nucleus Software advances after fixing record date for buyback of shares
Jun 19,2017

The announcement was made after market hours on Friday, 16 June 2017.

Meanwhile, the S&P BSE Sensex was up 127.59 points, or 0.41% at 31,183.99. The S&P BSE Small-cap index was up 13.43 points, or 0.09% at 15,680.67.

On the BSE, 14,000 shares were traded on the counter so far as against the average daily volumes of 22,814 shares in the past one quarter. The stock had hit a high of Rs 342 and a low of Rs 335.95 so far during the day. The stock had hit a 52-week high of Rs 343.90 on 22 May 2017 and a 52-week low of Rs 171 on 29 September 2016.

The stock had underperformed the market over the past one month till 16 June 2017, sliding 0.15% compared with the Sensexs 1.55% rise. The scrip had, however, outperformed the market over the past one quarter advancing 32.3% as against the Sensexs 4.97% rise. The scrip had also outperformed the market over the past one year advancing 63.17% as against the Sensexs 17.08% rise.

The small-cap company has equity capital of Rs 32.38 crore. Face value per share is Rs 10.

Nucleus Software Exports said that the buyback committee of the board at its meeting held on Friday, 16 June 2017 has fixed 30 June 2017 as the record date for the buyback of equity shares. The board has approved buyback of upto 33.43 lakh equity shares representing upto 10.32% of the total paid-up equity share capital of the company. The buyback price is Rs 350 per share for an aggregate amount not exceeding Rs 117 crore which is 24.83% of the paid-up equity share capital and free reserves of the company for the financial year ended 31 March 2017.

Nucleus Software Exports consolidated net profit rose 39.82% to Rs 22.26 crore on 0.59% increase in net sales to Rs 93.69 crore in Q4 March 2017 over Q3 December 2016.

Nucleus Software Exports is the leading provider of lending and transaction banking products to the global financial services industry.

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IMP Powers wins Valued Customer Award 2016-17
Jun 19,2017

IMP Powers has been awarded the Valued Customer Award from CPRI (Central Power Research Institute) for the year 2016-17 under Testing and Certification category.

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Suprajit Engg advances on fund buying
Jun 19,2017

Meanwhile, the S&P BSE Sensex was up 129.48 points or 0.42% at 31,185.88. The S&P BSE Small-Cap index advanced 12.80 points or 0.08% at 15,680.04.

On the BSE, 2,446 shares were traded on the counter so far as against the average daily volumes of 32,021 shares in the past one quarter. The stock had hit a high of Rs 303.80 so far during the day, which is a record high. The stock hit a low of Rs 299 so far during the day. The stock had hit a 52-week low of Rs 170 on 24 June 2016.

The stock had outperformed the market over the past one month till 16 June 2017, advancing 17.98% compared with the Sensexs 1.55% rise. The stock had also outperformed the market over the past one quarter, gaining 35.46% as against the Sensexs 4.97% rise. The scrip had also outperformed the market over the past one year, advancing 61.44% as against the Sensexs 17.08% rise.

The small-cap company has equity capital of Rs 13.13 crore. Face value per share is Rs 1.

On consolidated basis, Suprajit Engineerings net profit rose 134.7% to Rs 40.41 crore on 32% growth in net sales to Rs 361.50 crore in Q4 March 2017 over Q4 March 2016.

Suprajit Engineering is one of the leading manufacturers of automotive cables in India.

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Board of Bhagyashree Leasing & Finance approves change in directorate
Jun 19,2017

Bhagyashree Leasing & Finance announced that the Board of Directors of Company at its meeting held on 16 June 2017 have approved the following -

Resignation of Manoj Shah who was Independent Director.

Appointment of Mangesh Gulunjkar who would be Independent Director

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NTPC brightens after commissioning further capacity of solar project
Jun 19,2017

The announcement was made after market hours on Friday, 16 June 2017.

Meanwhile, the S&P BSE Sensex was up 166.21 points or 0.54% at 31,222.61.

On the BSE, 13,837 shares were traded on the counter so far as against the average daily volumes of 3.52 lakh shares in the past one quarter. The stock had hit a high of Rs 161.60 and a low of Rs 160.60 so far during the day.

The stock had hit a 52-week high of Rs 177.80 on 27 January 2017 and a 52-week low of Rs 139.70 on 15 July 2016.

The stock had underperformed the market over the past one month till 16 June 2017, rising 0.31% compared with 1.55% rise in the Sensex. The scrip had also underperformed the market in past one quarter, dropping 0.47% as against Sensexs 4.97% gains. The scrip had underperformed the market in past one year, gaining 5.6% as against Sensexs 17.08% gains.

The large-cap company has equity capital of Rs 8245.46 crore. Face value per share is Rs 10.

NTPC said that with this commissioning, the installed capacity of NTPCs solar power projects has become 845 megawatts (MW). The total installed capacity of NTPC on standalone basis has become 44,419 MW and that of NTPC group has become 51,635 MW.

On 2 June 2017, NTPC had commissioned 117 MW out of 250 MW of Mandsaur Solar Power Project.

NTPCs net profit declined 25.5% to Rs 2079.40 crore on 11.4% rise in net sales to Rs 20416.67 crore in Q4 March 2017 over Q4 March 2016.

NTPC, Indias largest power company, has presence in the entire value chain of power generation business. The government of India held 69.75% stake in the firm as on 31 March 2017, as per the shareholding pattern.

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Mahamaya Steel Industries appoints CFO
Jun 19,2017

Mahamaya Steel Industries has appointed Suresh Raman , Executive Director of the Company as also Chief Financial Officer and Key Managerial Personnel of the Company with effect from 17 June 2017.

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Dr Reddys Lab drops after receiving Form 483 for plant
Jun 19,2017

The announcement was made after market hours on Friday, 16 June 2017.

Meanwhile, the S&P BSE Sensex was up 150.97 points or 0.49% at 31,207.37.

On the BSE, 5,666 shares were traded on the counter so far as against the average daily volumes of 39,467 shares in the past one quarter. The stock had hit a high of Rs 2,677.10 and a low of Rs 2,647 so far during the day. The stock had hit a 52-week high of Rs 3,689 on 20 July 2016 and a 52-week low of Rs 2,382.05 on 29 May 2017.

The stock had underperformed the market over the past one month till 16 June 2017, sliding 1.69% compared with the Sensexs 1.55% rise. The stock had also underperformed the market over the past one quarter, declining 2.73% as against the Sensexs 4.97% rise. The scrip had also underperformed the market over the past one year, declining 12.14% as against the Sensexs 17.08% rise.

The large-cap company has equity capital of Rs 82.89 crore. Face value per share is Rs 5.

Dr Reddys Laboratories announced that the audit of its Formulations Srikakulam Plant (SEZ) Unit I, Andhra Pradesh, by the United States Food and Drug Administration (USFDA), has been completed on 16 June 2017. The company has been issued a Form 483 with one observation, which it is addressing.

Dr Reddys Laboratories consolidated net profit rose 175.4% to Rs 337.60 crore on 5.4% decline in net sales to Rs 3554.20 crore in Q4 March 2017 over Q4 March 2016.

Dr Reddys Laboratories is an integrated global pharmaceutical company.

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Kemp & Co to hold AGM
Jun 19,2017

Kemp & Co announced that the 136th Annual General Meeting (AGM) of the company will be held on 4 August 2017.

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Aayush Food And Herbs CFO resigns
Jun 19,2017

Aayush Food And Herbs announced that Sachin Goyal - CFO has resigned with effect from 16 June 2017.

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RBI directs IDBI Bank to initiate Corporate Insolvency Resolution Process for Lanco Infratech
Jun 19,2017

Lanco Infratech announced that the Reserve Bank of India directed IDBI Bank, the lead bank of Lanco Infratech to initiate Corporate Insolvency Resolution Process (CIRP) for Lanco Infratech under the Insolvency and Bankruptcy Code, 2016.

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V-Mart Retail opens two stores
Jun 19,2017

V-Mart Retail has opened two stores in the state of Madhya Pradesh and Bihar. These are fashion stores. This takes the total of stores to 146 store in 125 cities across 14 states.

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Tata Steel hardens after plans to sell shares in Tata Motors
Jun 19,2017

The announcement was made on Saturday, 17 June 2017.

Shares of Tata Motors declined 0.09% to Rs 455.10.

Meanwhile, the S&P BSE Sensex was up 137.68 points or 0.44% at 31,194.08.

On the BSE, 43,890 shares were traded on the counter so far of Tata Steel as against the average daily volumes of 8.08 lakh shares in the past one quarter. The stock had hit a high of Rs 512.50 and a low of Rs 509 so far during the day.

Tata Steel said that the transaction is expected to be executed on or after 23 June 2017 at or around the prevailing price on the date of proposed sale, subject to no material market movements in price since the date of this disclosure.

Tata Sons is the promoter of the major operating Tata companies and holds significant shareholdings in these companies. Tata companies are commonly referred to as the Tata group and the Chairman of Tata Sons as Chairman of the Tata group.

About 66% of the equity capital of Tata Sons is held by philanthropic trusts endowed by members of the Tata family. The largest of these trusts are the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust, which were created by the sons of Jamsetji Nusserwanji Tata, the founder of the group.

Tata Steel held 2.9% stake while Tata Sons held 28.71% stake in Tata Motors, as per the shareholding pattern as on 31 March 2017.

Tata Steel reported consolidated net loss of Rs 1168.02 crore in Q4 March 2017, compared with net loss of Rs 3041.88 crore in Q4 March 2016. The consolidated net sales rose 29.6% to Rs 33424.09 crore in Q4 March 2017 over Q4 March 2016.

Tata Steel is the worlds second-most geographically-diversified steel producer, with operations in 26 countries and commercial presence in over 50 countries.

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