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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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Outcome of board meeting of JSW Energy
Jan 23,2017

JSW Energy announced that the Board of Directors of the Company at its meeting held on 23 January 2017 transacted the following -

Noted resignation of Pramod Menon as Director-Finance and CFO with effect from 31 January 2017.

Appointment of Jyoti Kumar as CFO and KMP of the Company with effect from 01 February 2017.

Appointment of Monica Chopra as Company Secretary and KMP with effect from 23 January 2017.

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Ramco Systems partners with Malaysias Matrix Group
Jan 23,2017

Multi-disciplinary manufacturer and supplier of Food & Beverage flavours, Matrix Sdn. Bhd. announced that it will implement Ramco Systems Enterprise Resource Planning solution, to automate its Production, Sales, Administration and HR functions.

Global enterprise software provider Ramco will roll out its integrated ERP solution across Matrixs three legal entities, which manufacture food ingredients, oleo chemicals and bleaching earth, respectively.

Ramcos mobile-friendly system will enable Matrix to integrate Process Production, Sales and Distribution, Inventory, Procurement and Sub-contracting with Finance and Accounting in addition to automating HR &Payroll. Compliant with the Malaysian statutory requirements, Ramco ERP will also integrate with Matrixs existing bar code and dosing systems to automate and increase efficiency and productivity of employees.

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Lupin receives final approval for Paroxetin Extended Release Tablets
Jan 23,2017

Lupin has received final approval for its Paroxetin Extended Release Tablets USP, 12.5 mg, 25 mg and 37.5 mg from the United StatesFood and Drug Administration (FDA) to market a generic version of Apotex Technologies, Incs Paxil CRn++ Tablets, 12.5 mg, 25 mg and 37.5 mg. Lupin shall commence promoting the product shortly.

Lupins Paroxetin Extended Release Tablets USP, 12.5 mg, 25 mg and 37.5 mg are the AB rated generic equivalents of Apotex Technologies, Incs Paxil CRn++ Tablets, 12.5 mg, 25 mg and 37.5 mg. It is indicated for the treatment of major depressive disorder, panic disorder, social anxiety disorder and premenstrual dysphoric disorder.

Paxil CRn++ Tablets had US sales of USD 127.7 million (IMS MAT September 2016).

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UCO Bank to announce Q3 results
Jan 23,2017

UCO Bank announced that meeting of the Board of Directors of the Bank will be held on 31 January 2017, inter alia, to consider the unaudited Financial Results of the Bank for the 3rd quarter ended on 31 December 2016 (Q3).

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Board of Labh Construction to consider Q3 results
Jan 23,2017

Labh Construction announced that the meeting of the Board of Directors will be held on 14 February 2017, inter alia, to consider and approve following business(s):

- Adoption of Unaudited Quarterly Financial Results of the Company for the 3rd quarter ended on 31 December 2016.

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NIIT allots 30000 equity shares
Jan 23,2017

NIIT announced that the Share Allotment Committee of the Board of Directors of the Company has allotted 30,000 (Thirty Thousand) Equity Shares of Rs. 2/- each to the employee of the Company in accordance with the terms of ESOP-2005.

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Gati to announce Q3 and 9M results
Jan 23,2017

Gati announced that a meeting of the Board of Directors of the Company will be held on 07 February 2017, inter alia, to consider and approve the unaudited financial results (Standalone & Consolidated) of the Company for the quarter and nine months ended 31 December 2016 (Q3).

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Board of Kanco Enterprises to consider Q3 and 9M results
Jan 23,2017

Kanco Enterprises announced that a Meeting of the Board of Directors of the Company will be held on 14 February 2017, inter alia, to consider and approve, the Unaudited Financial Results of the Company for the quarter and nine months ended 31 December 2016.

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Advani Hotels & Resorts (India) provides business update
Jan 23,2017

Advani Hotels & Resorts (India) announced that the Companys International Licence and Training agreement with Wyndham Hotel Asia Pacific Co. for Ramada brand is valid upto 31 January 2017 midnight.

In view of the above, the Companys resort Ramada Caravela Beach Resort, Goa will be renamed as Caravela Beach Resort, Goa w.e.f. 31 January 2017 midnight.

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Board of Menon Bearings to consider Q3 and 9M results
Jan 23,2017

Menon Bearings announced that a meeting of the Board of Directors of the Company is scheduled to be held on 09 February 2017, inter alia, to consider and approve the Standalone Un-Audited Financial Results of the Company for the quarter and nine months ended 31 December 2016.

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Oriental Hotels jumps after turnaround in Q3
Jan 23,2017

The result was announced during market hours today, 23 January 2017.

Meanwhile, the S&P BSE Sensex was up 64.87 points or 0.24% at 27,099.37.

On the BSE, 7.48 lakh shares were traded on the counter so far as against the average daily volumes of 7,778 shares in the past one quarter. The stock had hit a high of Rs 27 and a low of Rs 22.50 so far during the day.

The stock had hit a 52-week high of Rs 29.25 on 19 October 2016 and a 52-week low of Rs 19.35 on 29 February 2016. The stock had underperformed the market over the past one month till 20 January 2017, advancing 2.04% compared with the Sensexs 2.76% rise. The scrip had also underperformed the market over the past one quarter, declining 19.64% as against the Sensexs 3.89% fall.

The small-cap company has equity capital of Rs 17.86 crore. Face value per share is Rs 1.

Oriental Hotels total income from operations rose 12.91% to Rs 90.67 crore in Q3 December 2016 over Q3 December 2015.

Oriental Hotels is engaged in the business of hoteliering, including accommodation, restaurants and catering services.

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Transchem to announce December quarter results
Jan 23,2017

Transchem announced that a meeting of the Board of Directors of the Company is scheduled to be held on 31 January 2017, inter alia, to consider and to take on record the Un-audited Financial Results of the Company for the quarter / period ended 31 December 2016.

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Rashtriya Chemicals & Fertilizers issues Commercial Paper aggregating Rs 180 cr
Jan 23,2017

Rashtriya Chemicals & Fertilizers announced that in terms of the guidelines issued by the Reserve Bank of India, the Company has issued Commercial Paper for Rs.180 crore on 23 January 2017, in favour of State Bank of India, having maturity date as 30 March 2017.

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Edelweiss Financial Services gets assigned ratings for proposed ST debt issue
Jan 23,2017

Edelweiss Financial Services announced that CRISIL has assigned the rating of CRISIL A1+ (CRISIL A one plus) to the proposed Short Term Debt Issue aggregating to Rs. 5500 crore of the Company.

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Suzlon Energy gains after winning repeat order
Jan 23,2017

The announcement was made during trading hours today, 23 January 2017.

Meanwhile, the BSE Sensex was up 60.78 points, or 0.22%, to 27,095.28.

On the BSE, so far 86.22 lakh shares were traded in the counter, compared with average daily volumes of 43.30 lakh shares in the past one quarter. The stock had hit a high of Rs 17.97 and a low of Rs 17.44 so far during the day.

The stock hit a 52-week high of Rs 20.70 on 1 February 2016. The stock hit a 52-week low of Rs 12.47 on 9 November 2016. The stock had outperformed the market over the past 30 days till 20 January 2017, rising 23.93% compared with the 4.06% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 17.15% as against Sensexs 3.71% decline.

The large-cap company has equity capital of Rs 1004.88 crore. Face value per share is Rs 2.

Suzlon Energy announced its repeat order win of 50.40 megawatts (MW) from a leading power utility. The project consists of 24 units of S97 120m hybrid tower with a rated capacity of 2.1 MW. Located in Kutch, Gujarat, the project will be completed by March 2017. Suzion will execute the entire project on a turnkey basis and will also provide operation and maintenance services for an initial period of 14 years through an integrated service package. The project has the potential to provide power to over 27,000 households and reduce 0.10 million tonnes of CO2 emissions per annum.

On a consolidated basis, Suzlon Energy reported net profit of Rs 237.62 crore in Q2 September 2016 as against net loss of Rs 201.66 crore in Q2 September 2015. Net sales rose 57.30% to Rs 2746.18 crore in Q2 September 2016 over Q2 September 2015.

The Suzion Group is one of the leading renewable energy solutions providers in the world with an international presence across 19 countries in Asia, Australia, Europe, Africa and North and South America.

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