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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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Punjab & Sind Bank plans to raise Rs 500 crore
Nov 23,2016

Punjab & Sind Bank announced that the bank intends to raise Basel III Compliant Tier II Bonds through Private Placement aggregating up to Rs.500 core. The proposed Bonds issue has been rated as n++CARE AAn++ by CARE and BWR AAn++ with Stable Outlook- by Brickwork Ratings.

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Bharat Heavy Electricals commissions 93 MW steam turbine based CPP
Nov 23,2016

Bharat Heavy Electricals has commissioned a 93 MW steam turbine based captive power plant (CPP) at Hazira in Gujarat.

This is the second 93 MW unit of the 4x93 MW steam turbine based CPP, being set up by Bhel for Reliance Industries at Hazira. For the same customer, the Bhel is also setting up a 3x93 MW steam turbine based CPP at Dahej, Gujarat.

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Bharat Heavy Electricals commissions 93 MW steam turbine based CPP
Nov 23,2016

Bharat Heavy Electricals has commissioned a 93 MW steam turbine based captive power plant (CPP) at Hazira in Gujarat.

This is the second 93 MW unit of the 4x93 MW steam turbine based CPP, being set up by Bhel for Reliance Industries at Hazira. For the same customer, the Bhel is also setting up a 3x93 MW steam turbine based CPP at Dahej, Gujarat.

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Volumes jump at Katwa Udyog counter
Nov 23,2016

Katwa Udyog clocked volume of 13.74 lakh shares by 13:24 IST on BSE, a 542.81-times surge over two-week average daily volume of 3,000 shares. The stock jumped 19.38% to Rs 93.

JK Lakshmi Cement notched up volume of 1.64 lakh shares, a 17.56-fold surge over two-week average daily volume of 9,000 shares. The stock rose 4.25% to Rs 361.80.

HPL Electric & Power saw volume of 17.46 lakh shares, a 15.42-fold surge over two-week average daily volume of 1.13 lakh shares. The stock rose 6.86% to Rs 87.25.

Sunil Hitech Engineers clocked volume of 31.02 lakh shares, a 12.58-fold surge over two-week average daily volume of 2.47 lakh shares. The stock dropped 4.28% to Rs 167.90.

Adani Transmission saw volume of 10.38 lakh shares, a 6.94-fold rise over two-week average daily volume of 1.50 lakh shares. The stock jumped 18.56% to Rs 55.25.

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Cipla EU divests stake in Chase Pharmaceuticals
Nov 23,2016

Cipla announced that Chase Pharmaceuticals Corporation, a Delaware based corporation (Chase) (in which Ciplas UK arm, Cipla (EU) (Cipla UK) has 16.7% stake) has been acquired by a subsidiary of Allergan, plc.

Allergan has agreed to pay $125 million upfront plus potential regulatory and commercial milestones of up to $875 million to the shareholders ofChase. Cipla UK acquired a minority stake in Chase in May 2014 via a syndicated venture investment.

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Cipla EU divests stake in Chase Pharmaceuticals
Nov 23,2016

Cipla announced that Chase Pharmaceuticals Corporation, a Delaware based corporation (Chase) (in which Ciplas UK arm, Cipla (EU) (Cipla UK) has 16.7% stake) has been acquired by a subsidiary of Allergan, plc.

Allergan has agreed to pay $125 million upfront plus potential regulatory and commercial milestones of up to $875 million to the shareholders ofChase. Cipla UK acquired a minority stake in Chase in May 2014 via a syndicated venture investment.

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Dredging Corporation of India to announce September quarter results
Nov 23,2016

Dredging Corporation of India announced that a Meeting of the Board of Directors of the Company will be held on 02 December 2016, to consider and take on record the Un-audited financial results of the Company for the quarter/period ended 30 September 2016.

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Dredging Corporation of India to announce September quarter results
Nov 23,2016

Dredging Corporation of India announced that a Meeting of the Board of Directors of the Company will be held on 02 December 2016, to consider and take on record the Un-audited financial results of the Company for the quarter/period ended 30 September 2016.

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Ramco Systems partners with Bank Islam Brunei Darussalam Berhad
Nov 23,2016

Ramco Systems announced that Bank Islam Brunei Darussalam Berhad (BIBD) has selected Ramco Systems Enterprise Resource Planning (ERP) integrated with full suite Human Capital Management (HCM) and Global Payroll for integrating its business processes across HR and enterprise resource planning functions.

Ramco beat global vendors to secure the contract with BIBD, Bruneis flagship Islamic bank and the countrys largest financial services provider serving all banking sectors. The partnership marks Ramcos entry into Brunei and strengthening of presence in South East Asia.

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Ramco Systems partners with Bank Islam Brunei Darussalam Berhad
Nov 23,2016

Ramco Systems announced that Bank Islam Brunei Darussalam Berhad (BIBD) has selected Ramco Systems Enterprise Resource Planning (ERP) integrated with full suite Human Capital Management (HCM) and Global Payroll for integrating its business processes across HR and enterprise resource planning functions.

Ramco beat global vendors to secure the contract with BIBD, Bruneis flagship Islamic bank and the countrys largest financial services provider serving all banking sectors. The partnership marks Ramcos entry into Brunei and strengthening of presence in South East Asia.

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JB Chemicals & Pharmaceuticals director resigns
Nov 23,2016

J B Chemicals & Pharmaceuticals announced that Dr. Niranjan N. Maniar, independent director of the Company, has resigned from the Board of directors of the Company with immediate effect due to his health problems.

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JMD Telefilms Industries invest in subsidairy - JMD Medico Services
Nov 23,2016

JMD Telefilms Industries announced that the Company has invested sum of Rs. 60 lakhs into its Subsidiary Company namely JMD Medico Services and has also launched around 30 products in the pharma segment till the time. The marketing of said products has also been started and will be available in market under the brand n++JMDn++.

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JMD Telefilms Industries invest in subsidairy - JMD Medico Services
Nov 23,2016

JMD Telefilms Industries announced that the Company has invested sum of Rs. 60 lakhs into its Subsidiary Company namely JMD Medico Services and has also launched around 30 products in the pharma segment till the time. The marketing of said products has also been started and will be available in market under the brand n++JMDn++.

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CEAT announces change in company secretary and compliance officer
Nov 23,2016

CEAT announced that Shruti Joshi has been appointed as the Company Secretary and Compliance Officer of the Company with effect from 01 September 2016 in place of H. N. Singh Rajpoot who has ceased to be the Company Secretary and Compliance Officer with effect from 01 September 2016. She is also designated as the Compliance Officer and Key Managerial Personnel as per section 203 of the Companies Act, 2013 and Regulation 6(1) of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

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CEAT announces change in company secretary and compliance officer
Nov 23,2016

CEAT announced that Shruti Joshi has been appointed as the Company Secretary and Compliance Officer of the Company with effect from 01 September 2016 in place of H. N. Singh Rajpoot who has ceased to be the Company Secretary and Compliance Officer with effect from 01 September 2016. She is also designated as the Compliance Officer and Key Managerial Personnel as per section 203 of the Companies Act, 2013 and Regulation 6(1) of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

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