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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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Shilpa Medicare gains after boards nod to raise foreign investment limit
Dec 02,2016

The announcement was made after market hours yesterday, 1 December 2016.

Meanwhile, the S&P BSE Sensex was down 239.26 points or 0.9% at 26,320.66.

On the BSE, 9,843 shares were traded on the counter so far as against the average daily volumes of 11,284 shares in the past one quarter. The stock had hit a high of Rs 683.90 and a low of Rs 660.55 so far during the day.

The stock had hit a record high of Rs 686 on 28 November 2016 and a 52-week low of Rs 355 on 20 January 2016.

The mid-cap company has equity capital of Rs 7.71 crore. Face value per share is Rs 1.

Shilpa Medicares board at its meeting held yesterday, 1 December 2016, approved raising of funds up to Rs 175 crore by issuing equity shares on preferential basis to TA FII Investors, Mauritius, at Rs 570 per share, which will be classified as a non-promoter shareholder.

On a consolidated basis, Shilpa Medicares net profit rose 63.9% to Rs 38.24 crore on 21.1% growth in net sales to Rs 209.67 crore in Q2 September 2016 over Q2 September 2015.

Shilpa Medicare is engaged in the business of bulk drugs manufacturing.

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Jindal Drilling & Industries slips as arbitration award passed against company
Dec 02,2016

The announcement was made after market hours yesterday, 1 December 2016.

Meanwhile, the BSE Sensex was down 229.57 points, or 0.86%, to 26,330.35.

On the BSE, so far 21,000 shares were traded in the counter, compared with average daily volumes of 14,274 shares in the past one quarter. The stock had hit a high of Rs 184 and a low of Rs 176.05 so far during the day.

The stock hit a 52-week high of Rs 216.55 on 19 October 2016. The stock hit a 52-week low of Rs 102.60 on 12 February 2016. The stock had underperformed the market over the past 30 days till 1 December 2016, falling 4.52% compared with the 3.51% decline in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 7.14% as against Sensexs 6.91% decline.

The small-cap company has equity capital of Rs 14.49 crore. Face value per share is Rs 5.

An arbitration award had been passed against Jindal Drilling & Industries, making it liable to pay $31.76 million with other expenses and interest charges. The company said it is taking necessary steps to contest in relation to the award.

Net profit of Jindal Drilling & Industries declined 3.7% to Rs 9.48 crore on 11.2% rise in net sales to Rs 92.66 crore in Q1 June 2016 over Q1 June 2015. The company will announce Q2 results on 12 December 2016.

Jindal Drilling & Industries is engaged in providing drilling and related services to entities involved in exploration of oil and gas. The company provides offshore drilling for oil & gas, horizontal & directional drilling and mud logging services.

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Bluechip Tex Industries appoints company secretary & compliance officer
Dec 02,2016

Bluechip Tex Industries announced the appointment of Sonal Shukla as Company Secretary and Compliance Officer with effect from 01 December 2016

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Bluechip Tex Industries announces resignation of compliance officer
Dec 02,2016

Bluechip Tex Industries announced that Arun Chokhra, Compliance Officer has resigned with effect from 01 December 2016.

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Hero MotoCorp announces sales figures
Dec 02,2016

Hero MotoCorp reported sales of 479,856 units in the month of November 2016.

Hero MotoCorp, which posted record festive sales this year, saw a drop in retail sales after the demonetisation initiative when the entire industry also witnessed decline in sales. With the slew of measures being implemented by the government, and several initiatives immediatelyundertaken by Hero MotoCorp to support its dealers and consumers, the Company expects the situation to steadily improve.

In the month of November, the Company showcased the Dawn 125 motorcycle at the EICMA Motorcycle Show in Milan. As part of Hero MotoCorps market-specific product strategy, the Dawn 125 motorcycle has been developed specifically for the Africa region.

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Bharat Forge completes acquisition of Walker Forge Tennessee LLC & PMT Holdings Inc. USA
Dec 02,2016

Bharat Forge announced that on 01 December 2016, it has completed acquisition of Walker Forge Tennessee LLC and PMT Holdings Inc. USA through its wholly owned subsidiary, Bharat Forge America Inc. USA for a total consideration of USD 14 million.

With the completion of this transaction, both the acquired companies have become indirect subsidiaries of Bharat Forge with effect from 01 December 2016.

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Hero MotoCorp almost flat after weak November sales
Dec 02,2016

The announcement was made after market hours yesterday, 1 December 2016.

Meanwhile, the BSE Sensex was down 168.42 points, or 0.63%, to 26,391.50.

On the BSE, so far 5,507 shares were traded in the counter, compared with average daily volumes of 30,188 shares in the past one quarter. The stock had hit a high of Rs 3,194.90 and a low of Rs 3,150.50 so far during the day.

The stock hit a record high of Rs 3,739.90 on 8 September 2016. The stock hit a 52-week low of Rs 2,375 on 18 January 2016. The stock had underperformed the market over the past 30 days till 1 December 2016, falling 4.39% compared with the 3.51% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 11.18% as against Sensexs 6.91% decline.

The large-cap company has equity capital of Rs 39.94 crore. Face value per share is Rs 2.

Hero MotoCorp, which posted record festive sales this year, saw a drop in retail sales after the demonetisation initiative when the entire industry also witnessed decline in sales. With the slew of measures being implemented by the government, and several initiatives immediately undertaken by Hero MotoCorp to support its dealers and consumers, the company expects the situation to steadily improve.

In November 2016, the company showcased the Dawn 125 motorcycle at the EICMA Motorcycle Show in Milan. As part of Hero MotoCorps market-specific product strategy, the Dawn 125 motorcycle has been developed specifically for the Africa region.

Net profit of Hero MotoCorp rose 27.7% to Rs 1004.22 crore on 14.2% rise in net sales to Rs 7669.53 crore in Q2 September 2016 over Q2 September 2015.

Hero MotoCorp is the worlds largest two-wheeler manufacturer in terms of production capacity.

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Coal India moves higher after reporting production, offtake numbers
Dec 02,2016

The announcement was made after market hours yesterday, 1 December 2016.

Meanwhile, the S&P BSE Sensex was down 156.04 points or 0.59% at 26,403.88.

On the BSE, 87,000 shares were traded on the counter so far as against the average daily volumes of 3.67 lakh shares in the past one quarter. The stock had hit a high of Rs 311.90 and a low of Rs 307.40 so far during the day.

The stock had hit a 52-week high of Rs 349.85 on 17 August 2016 and a 52-week low of Rs 272.05 on 12 April 2016.

The large-cap company has equity capital of Rs 6316.36 crore. Face value per share is Rs 10.

Coal India and its subsidiaries achieved 93% of targeted production at 50 million tonnes in November 2016. The company achieved 97% of targeted offtake at 48.16 million tonnes in November 2016.

Coal Indias consolidated net profit fell 14.8% to Rs 3065.28 crore on 6.1% decline in net sales to Rs 17796.05 crore in Q1 June 2016 over Q1 June 2015. The company is scheduled to announce its Q2 September 2016 results on 13 December 2016.

State-run Coal India is Indias biggest coal miner. The Government of India currently holds 79.65% stake in Coal India (as per the shareholding pattern as on 30 September 2016).

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Rupee closes up
Dec 02,2016

Rupee closed higher at 68.03/04 per dollar on Friday (02 December 2016), versus its previous close of 68.34/35 per dollar.

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Mercator announces change in directorate
Dec 02,2016

Mercator announced that -

1. Prem Rajani has been appointed as (Additional) Independent and Non-Executive Director of the Company for period of 5 years w.e.f 01 December 2016.

2. K. R. Bharat has resigned from the Directorship of the Company w.e.f closure of Business hours of 30 November 2016.

The Board of Directors of the Company accepted and approved the aforesaid appointment and resignation of Directors through Circular Resolution passed on 01 December 2016.

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Outcome of board meeting of Dilip Buildcon
Dec 02,2016

Dilip Buildcon announced that the Board of Directors of the Company at its meeting held on 01 December 2016 has transacted the following -

Considered and reviewed utilisation of funds raised through the IPO.

Considered and approved incorporation of SPV Company for a road project on NH-66 (Kalmath to Zarap section) in State of Maharashtra under NHDP phase -IV on hybrid annuity basis.

Considered and approved the authorisation to provide undertaking to the authority on behalf of the above project.

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Board of Mac Charles (India) appoints directors
Dec 02,2016

Mac Charles (India) announced that the Board of Directors of the Company at its meeting held on 01 December 2016, P R Ramakrishnan and Aditya Virwani have been co-opted as additional Directors of the Company.

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Bajaj Auto slips after weak sales in November
Dec 02,2016

The announcement was made before trading hours today, 2 December 2016.

Meanwhile, the BSE Sensex was down 166.74 points, or 0.63%, to 26,393.18.

On the BSE, so far 2,755 shares were traded in the counter, compared with average daily volumes of 17,000 shares in the past two weeks. The stock had hit a high of Rs 2,685 and a low of Rs 2,653.55 so far during the day.

Bajaj Autos domestic sales fell 10% to 1.54 lakh units in November 2016 over November 2015. Exports declined 16% to 1.15 lakh units in October 2016 over October 2015.

Total motorcycle sales fell 12% to 2.37 lakh units in November 2016 over November 2015. Total commercial vehicles sales fell 17% to 32,191 lakh units in November 2016 over November 2015.

On a consolidated basis, Bajaj Autos net profit rose 7.2% to Rs 1200.72 crore on 0.2% decline in net sales to Rs 5949.32 crore in Q2 September 2016 over Q2 September 2015.

Bajaj Auto is one of the leading two-and three-wheeler manufacturers in India.

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A2Z Infra Engineering allots equity shares
Dec 02,2016

A2Z Infra Engineering announced that the Nomination & Remuneration Committee at its meeting held on 01 December 2016 has approved the allotment of 482,495 equity shares to eligible employees under A2Z Employee Stock Option Plan 2013 and A2Z Employee Stock Option Plan 2014. Consequently, the paid up capital of the Company has increased to 13,01,04,475 equity shares of face value of Rs 10 each.

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Tata Motors sees initial volatility after flat sales in November
Dec 02,2016

The announcement was made after market hours yesterday, 1 December 2016.

Meanwhile, the S&P BSE Sensex was down 165.22 points or 0.62% at 26,394.70.

On the BSE, 36,000 shares were traded on the counter so far as against the average daily volumes of 4.47 lakh shares in the past two weeks. The stock had hit a high of Rs 449 and a low of Rs 443.25 so far during the day.

The stock had hit a 52-week high of Rs 598.60 on 7 September 2016 and a 52-week low of Rs 266 on 11 February 2016.

Tata Motors said its passenger and commercial vehicle total sales in November 2016 were at 38,900 units, almost flat compared with 38,918 vehicles sold in November 2015. The companys domestic sales of Tata commercial and passenger vehicles declined 6% to 33,274 units in November 2016 over November 2015. Exports surged 57% to 5,626 units in November 2016 over November 2015.

Tata Motors reported consolidated net profit of Rs 848.16 crore in Q2 September 2016, compared with net loss of Rs 1740.20 crore in Q2 September 2015. Total income rose 7% to Rs 66106.96 crore in Q2 September 2016 over Q2 September 2015.

Tata Motors is a market leader in commercial vehicles in India. The companys British unit JLR sells premium luxury cars.

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