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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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Lupin receives final approval for Triamcinolone Acetonide Cream
Feb 03,2017

Lupin has received final approval for its Triamcinolone Acetonide Cream USP, 0.025%, 0.1% and 0.5% from the USFDA to market a generic equivalent of Mylan Pharmaceuticals Incs Triamcinolone Acetonide Cream, 0.025% and 0.1%. Lupin shall commence promoting the product shortly.

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Bharat Forge divests its entire stake in Kalyani Polytechnic
Feb 03,2017

Bharat Forge has disinvested its entire stake in Kalyani Polytechnic, a wholly owned subsidiary incorporated under Section 25 of Companies Act, 1956 w.e.f. 03 February 2017 and consequently Kalyani Polytechnic has ceased to be the subsidiary of Bharat Forge.

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Adlabs Entertainment director resigns
Feb 03,2017

Adlabs Entertainment announced that Prashant Purker, Non-Executive Independent Director of the Company, has tendered his resignation from the directorship of the Company with effect from close of business hours of 03 February 2017.

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Symphony no more require to comply with Ahmedabad Stock Exchange
Feb 03,2017

Symphony announced that the Company have received a letter dated 11 January 2017 from Ahmedabad Stock Exchange, received on 31 January 2017, stating that Ahmedabad Stock Exchange is undergoing its exit policy and because of that all companies listed with them are shifted to NSE, BSE and Dissemination Board NSE.

Accordingly, the Company is no more required to submit any compliance with Ahmedabad Stock Exchange.

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Hindalco Industries allots 247057 equity shares
Feb 03,2017

Hindalco Industries announced that the Committee of Directors vide their resolution passed on 02 February 2017 has allotted 247057 equity shares of face value of Re. 1/- each to the optionees as detailed in the resolution, pursuant to the exercise of the options granted to the employee under the Companys Employee Stock Option Scheme.

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Torrent Pharmaceuticals to pay interim dividend
Feb 03,2017

Torrent Pharmaceuticals announced that interim dividend shall be paid on 17 February 2017.

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Board of Torrent Pharmaceuticals declares interim dividend
Feb 03,2017

Torrent Pharmaceuticals announced that the Board of Directors of the Company at its meeting held on 03 February 2017, has considered and approved an interim dividend of Rs. 10/- (200%) per equity share of Rs. 5/- fully paid up. The dividend is expected to be paid / dispatched on 17 February 2017.

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Board of Great Eastern Shipping Company declares interim dividend
Feb 03,2017

Great Eastern Shipping Company announced that the Board of Directors of the Company at its meeting held on 03 February 2017, inter alia, has declared an interim dividend of Rs. 3.60/- per share to the equity shareholders of the Company.

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Great Eastern Shipping Company fixes record date for interim dividend
Feb 03,2017

Great Eastern Shipping Company has fixed 15 February 2017 as Record Date for the purpose of ascertaining the shareholders eligible for receiving the interim dividend. The interim dividend will be paid to the shareholders on or after 23 February 2017.

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Board of MRF declares 2nd interim dividend and approves private placement of NCDs
Feb 03,2017

MRF announced that the Board of Directors at its Meeting held on 03 February 2017, inter alia, considered and approved the following:

1. Declaration of a Second Interim Dividend of Rs. 3/- per equity share (30%) for the financial year ending 31 March 2017. The Dividend declared will be paid on or after 23 February 2017.

2. Issue of Non-Convertible Debentures not exceeding Rs. 500 crore through Private Placement basis. For this purpose, approval of the shareholders is proposed to be obtained by way of postal ballot.

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MRF fixes record date for 2nd interim dividend
Feb 03,2017

MRF has fixed 15 February 2017 as the Record date for the purpose of payment of Second Interim Dividend.

The Dividend declared will be paid on or after 23 February 2017.

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Rico Auto declines after uninspiring Q3 numbers
Feb 03,2017

The result was announced during market hours today, 3 February 2017.

Meanwhile, the S&P BSE Sensex was up 15.52 points or 0.05% at 28,242.13.

On the BSE, 2.43 lakh shares were traded on the counter so far as against the average daily volumes of 1.09 lakh shares in the past one quarter. The stock had hit a high of Rs 62.90 and a low of Rs 57.55 so far during the day.

The stock had hit a 52-week high of Rs 75.25 on 3 November 2016 and a 52-week low of Rs 27.70 on 29 February 2016. The stock had outperformed the market over the past one month till 2 February 2017, advancing 13.59% compared with the Sensexs 6.13% rise. The scrip had, however, underperformed the market over the past one quarter, declining 13.36% as against the Sensexs 2.54% rise.

The small-cap company has equity capital of Rs 13.53 crore. Face value per share is Rs 1.

Rico Auto Industries is an engineering company supplying a wide range of high precision fully machined aluminum and ferrous components and assemblies to automotive original equipment manufacturers (OEMs) across the globe.

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Subex spurts after reporting excellent Q3 results
Feb 03,2017

The result was witnessed during market hours today, 3 February 2017.

Meanwhile, the BSE Sensex was down 15.61 points, or 0.14%, to 28,188.31.

Huge volumes were witnessed on the counter. On the BSE, 68.83 lakh shares were traded in the counter so far, compared with average daily volume of 7.39 lakh shares in the past one quarter. The stock had hit a high of Rs 12.10 and a low of Rs 10.41 so far during the day. The stock had hit a 52-week high of Rs 14.24 on 11 July 2016. The stock had hit a 52-week low of Rs 8.25 on 20 November 2016.

Subex is a leading global provider of business and operations support systems (B/OSS) that empowers communications service providers (CSPs) to achieve competitive advantage through business and capex optimisation - thereby enabling them to improve their operational efficiency to deliver enhanced service experiences to subscribers.

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Stellar Q3 earnings propel OCL India to record high
Feb 03,2017

The result was announced during market hours today, 3 February 2017.

Meanwhile, the S&P BSE Sensex was down 33.07 points or 0.12% at 28,193.54.

On the BSE, 18,000 shares were traded on the counter so far as against the average daily volumes of 2,095 shares in the past one quarter. The stock had hit a high of Rs 1,037 so far during the day, which is a record high. The stock hit a low of Rs 915.85 so far during the day.

The stock had hit a 52-week low of Rs 390 on 25 February 2016. The stock had outperformed the market over the past one month till 2 February 2017, surging 25.17% compared with the Sensexs 6.13% rise. The scrip had, however, underperformed the market over the past one quarter, declining 1.16% as against the Sensexs 2.54% rise.

The mid-cap company has equity capital of Rs 11.38 crore. Face value per share is Rs 2.

OCL India is in the business of cement and refractories.

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Transport Corporation surges after reporting good Q3 results
Feb 03,2017

The result was announced after market hours yesterday, 2 February 2017.

Meanwhile, the S&P BSE Sensex was down 5.46 points or 0.02% at 28,221.15.

A spurt in volumes was witnessed on the counter. On the BSE, 71,608 shares were traded in the counter so far as against average daily volume of 7,558 shares in the past one quarter. The stock had hit a high of Rs 193.90 and a low of Rs 166.70 so far during the day. The stock had hit a record high of Rs 225 on 26 August 2016. The stock had hit a 52-week low of Rs 112.55 on 12 February 2016.

The stock had outperformed the market over the past one month till 2 February 2017, rising 12.53% compared with 6.13% gains in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 9.03% as against Sensexs 2.54% gains.

The small-cap company has equity capital of Rs 15.32 crore. Face value per share is Rs 2.

Commenting on the companys performance, Vineet Agarwal, Managing Director of Transport Corporation of India (TCI) said, performance for Q3 December 2016 is attributed to resilience to market turbulences amid demonetisation and operational efficiency. The company will continue to perform well and remain confident of sustaining growth levels in the fourth quarter and for overall fiscal year as well.

He further added that Demonetization has worked in companys favor as the company is already established the practice of being cashless be it in transactions with business partners or for the workmen at warehouses. He also added that GST implementation will lead to need for larger warehousing and bulkier movements between hubs, lesser paper work and faster movement of trucks which would benefit the industry as a whole.

Keeping in view of the overall performance, TCI board of directors has decided to pay 2nd interim dividend of Rs 0.50 per share for the year ending 31 March 2017 (FY 2017).

Transport Corporation of India provides end to end integrated supply chain and logistics solutions.

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