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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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Dhenu Buildcon Infra to hold board meeting
Nov 02,2016

Dhenu Buildcon Infra will hold a meeting of the Board of Directors of the Company on 14 November 2016, to approve the unaudited financial results for the quarter ended 30 September 2016.

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Milkfood to hold board meeting
Nov 02,2016

Milkfood will hold a meeting of the Board of Directors of the Company on 11 November 2016, to consider and approve the Unaudited Financial Results of the Company for the quarter ended 30 September 2016.

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Godrej Properties gains after good sales at Godrej Golf Links township
Nov 02,2016

The announcement was made before market hours today, 2 November 2016.

Meanwhile, the BSE Sensex was down 288.41 points, or 1.03%, to 27,588.20.

On BSE, so far 8,793 shares were traded in the counter, compared with average daily volume of 38,701 shares in the past one quarter. The stock hit a high of Rs 372.30 and a low of Rs 364 so far during the day. The stock hit a 52-week high of Rs 386 on 9 August 2016. The stock hit a 52-week low of Rs 266.40 on 29 February 2016. The stock had outperformed the market over the past 30 days till 1 November 2016, rising 4.07% compared with 1.30% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 3.96% as against Sensexs 0.65% rise.

The mid-cap company has equity capital of Rs 108.18 crore. Face value per share is Rs 5.

Godrej Properties (GPL), one of Indias leading real estate developers, announced that it has sold over 60,000 square meters (6 lakh square feet) of villas with a booking value well in excess of Rs 300 crore in a single day at the launch of its first project, Crest, at its 100 acre township Godrej Golf Links in Greater Noida. Godrej Golf Links, a golf and recreational residential township spread across 100 acres, will house a community of residential villas, a 9-hole golf course, and a wide-range of recreational features. The first project in the township, Crest, contains villas of various sizes and configurations that are designed to offer spectacular views of the sprawling golf course, green landscapes, and recreational zones.

Godrej Properties consolidated net profit rose 9.2% to Rs 43.48 crore on 87.6% rise in net sales to Rs 234.76 crore in Q1 June 2016 over Q1 June 2015.

Godrej Properties is currently developing residential, commercial and township projects spread across approximately 1 1.98 million square meters (129 million square feet) in 12 cities.

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Satin Creditcare drops in early trade
Nov 02,2016

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

Meanwhile, the S&P BSE Sensex was down 261.51 points or 0.94% at 27,615.10.

On BSE, so far 556 shares were traded in the counter as against average daily volume of 24,000 shares in the past two weeks. The stock hit a high of Rs 565.40 and a low of Rs 564 so far during the day. The stock had hit a record high of Rs 716.70 on 28 July 2016. The stock had hit a record low of Rs 264 on 29 February 2016. The stock had outperformed the market over the past one month till 1 November 2016, advancing 0.25% compared with 0.04% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, sliding 7.78% as against Sensexs 0.45% fall.

The small-cap company has equity capital of Rs 37.57 crore. Face value per share is Rs 10.

Satin Creditcare Networks net profit jumped 103.7% to Rs 24.59 crore on 71.8% growth in total income to Rs 196.75 crore in Q1 June 2016 over Q1 June 2015.

Satin Creditcare Network is one of the leading microfinance companies in India.

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Lupin in focus after receiving USFDA approval for pregnancy prevention drug
Nov 02,2016

Lupin announced that it has received final approval for Norgestimate and Ethinyl Estradiol Tablets USP, 0.25 mg/0.035 mg from the United States Food and Drug Administration (USFDA) to market a generic version of Janssen Pharmaceuticals, Inc.s Ortho-Cyclen 28 Tablets (Norgestimate/Ethinyl Estradiol). The approved product will be manufactured at Lupins Pithampur facility. Lupins Norgestimate and Ethinyl Estradiol Tablets USP, 0.25 mg/0.035 mg are the AB rated generic equivalent of Janssen Pharmaceuticals, Inc.s Ortho-Cyclen 28 Tablets (Norgestimate/Ethinyl Estradiol). It is indicated for use by females of reproductive potential to prevent pregnancy. Ortho-Cyclen Tablets had US sales of $178.2 million as per IMS MAT June 2016. The announcement was made after market hours yesterday, 1 November 2016.

NTPC announced that in continuation with companys earlier disclosures in respect of Hindustan Urvarak & Rasayn (HURL), a joint venture company formed between NTPC (NTPC) and Coal India (CIL), a supplemental joint venture agreement has been signed on 31 October 2016 amongst NTPC, CIL, Indian Oil Corporation (IOC), Fertilizer Corporation of India (FCIL) and Hindustan Fertilizer Corporation (HFCL) in order to induct IOC, FCIL and HFCL, as joint venture partners and shareholders in HURL. Now, HURL shall also take up revival of Barauni plant of HFCL in addition to revival of Gorakhpur and Sindri plants of FCIL by setting up ammonia urea plants at each locations. The announcement was made after market hours yesterday, 1 November 2016.

Eicher Motors said total volume of VE Commercial Vehicles, an unlisted subsidiary of Eicher Motors rose 14.42% to 4,560 units in October 2016 over October 2015. The announcement was made after market hours yesterday, 1 November 2016.

Godrej Properties (GPL), one of Indias leading real estate developers, announced that it has sold over 60,000 square meters (6 lakh square feet) of villas with a booking value well in excess of Rs 300 crore in a single day at the launch of its first project, Crest, at its 100 acre township Godrej Golf Links. Godrej Golf Links, a golf and recreational residential township spread across 100 acres, will house a community of residential villas, a 9-hole golf course, and a wide-range of recreational features. The first project in the township, Crest, contains villas of various sizes and configurations that are designed to offer spectacular views of the sprawling golf course, green landscapes, and recreational zones. The announcement was made before market hours today, 2 November 2016.

Satin Creditcare Network announced that meeting of working committee of the board of directors of the company is scheduled to be held on 4 November 2016 for the issuance of non-convertible debentures upto the amount of Rs 50 crore through private placement. The announcement was made after market hours yesterday, 1 November 2016.

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Spice Mobility incorporates subsidiary company
Nov 01,2016

Spice Mobility has incorporated a wholly owned subsidiary company in the name of Spice IOT Solutions Private Limited with a paid up capital of Rs. 1 lakh only.

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JJ Exporters closes unit permanently
Nov 01,2016

JJ Exporters due to subsequent failure to revive its temporarily closed J J Spectrum Silk, a unit situated at Diamond Harbour Road, Gangarampur, South 24 Parganas has decided to close the unit permanently and dispose off the plant and machinery and subsequently the land and building to pay off the Banks.

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Rupee marches ahead
Nov 01,2016

Rupee closed higher on Tuesday (01 November 2016) at 66.7219/7370 per dollar, versus its previous close of 66.7879/80 per dollar last Friday. Markets were closed on Monday for a local holiday.

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Neycer India changes management
Nov 01,2016

Neycer India has accorded the resignation of K V Sowmya Narayanan as Chief Financial Officer, appointment of Thiru Kalathiappan as Chief Financial Officer, and appointment of Raghavan as Company Secretary & Compliance officer in the place of Krishnan Iyer.

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Gayatri Sugars declared sick
Nov 01,2016

Gayatri Sugars has been declared a sick industrial company through a communications received from the Board for Industrial & Financial Reconstruction (BIFR) on 01st November 2016 under Section 3(1) (o) of SICA, 1985. IDBI has been appointed as an Operating Agency (OA).

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Raminfo to hold board meeting
Nov 01,2016

Raminfo will hold a meeting of the Board of Directors of the Company on 14 November 2016 to consider the Un-Audited financial results for the quarter and half year ended September 30, 2016.

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Tamil Nadu Steel Tubes to hold board meeting
Nov 01,2016

Tamil Nadu Steel Tubes will hold a meeting of the Board of Directors of the Company on 14 November 2016 to consider and take on record, inter alia, the Un-audited Financial Results of the Company for the Quarter Ended September 30, 2016.

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Sturdy Industries to hold board meeting
Nov 01,2016

Sturdy Industries will hold a meeting of the Board of Directors of the Company on 11 November 2016 to consider and approve the Un-audited Financial Result for the quarter ended on September 30, 2016.

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Yogya Enterprises to hold board meeting
Nov 01,2016

Yogya Enterprises will hold a meeting of the Board of Directors of the Company on 11 November 2016 to consider and approve the unaudited financial results of the Company for the half year ended September 30, 2016.

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Power Grid Corporation of India to hold board meeting
Nov 01,2016

Power Grid Corporation of India will hold a meeting of the Board of Directors of the Company on 9 November 2016 to consider and approve the Unaudited Financial Results of the Company for the Quarter and half year ended September 30, 2016

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