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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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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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Board of AksharChem (India) approves capital expenditure of upto Rs 175 crore
Jan 23,2017

AksharChem (India) announced that the Board of Directors has approved a Capital Expenditure Plan upto Rs. 175 crore to be done over a period of 12-18 months in Specialty Chemicals, Dyes & Intermediates and Organic Pigments.

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Texmaco Rail gains after signing pact with Chinese firm
Jan 23,2017

The announcement was made on Saturday, 21 January 2017.

Meanwhile, the BSE Sensex was up 40.75 points, or 0.15%, to 27,075.25.

On the BSE, so far 82,000 shares were traded in the counter, compared with average daily volumes of 71,097 shares in the past one quarter. The stock had hit a high of Rs 114.50 and a low of Rs 112 so far during the day.

The stock hit a 52-week high of Rs 151 on 2 February 2016. The stock hit a 52-week low of Rs 89.50 on 29 February 2016. The stock had underperformed the market over the past 30 days till 20 January 2017, falling 1.51% compared with the 4.06% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 1.41% as against Sensexs 3.71% decline.

The small-cap company has equity capital of Rs 21.05 crore. Face value per share is Re 1.

Texmaco Rail & Engineering said it signed a non-binding memorandum with TEB Technology Development Company, China for promotion and development of (transit elevated bus - TEB) BOT project in West Bengal.

Net profit of Texmaco Rail & Engineering rose 92.2% to Rs 17.07 crore on 82.7% rise in net sales to Rs 235.94 crore in Q2 September 2016 over Q2 September 2015.

Texmaco Rail & Engineering is a premier multi-discipline, multi-unit engineering and infrastructure company.

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Allsec Technologies to announce Q3 and 9M results
Jan 23,2017

Allsec Technologies announced that the meeting of the Board of Directors of the Company will be held on 06 February 2017, inter alia, to consider the Un-audited Financial Results of the Company for the quarter and nine months ended 31 December 2016.

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Force Motors slides after weak Q3 results
Jan 23,2017

The result was announced on Saturday, 21 January 2017.

Meanwhile, the S&P BSE Sensex was up 24.13 points or 0.09% at 27,058.63.

On the BSE, 81,000 shares were traded on the counter so far as against the average daily volumes of 1.30 lakh shares in the past one quarter. The stock had hit a high of Rs 4,190 and a low of Rs 4,030 so far during the day.

The stock had hit a record high of Rs 4,839 on 27 October 2016 and a 52-week low of Rs 2,180 on 29 February 2016. The stock had outperformed the market over the past one month till 20 January 2017, advancing 13.83% compared with the Sensexs 2.76% rise. The scrip had also outperformed the market over the past one quarter, gaining 1.26% as against the Sensexs 3.89% fall.

The mid-cap company has equity capital of Rs 13.18 crore. Face value per share is Rs 10.

Force Motors is a fully, vertically integrated automobile company, with expertise in design, development and manufacture of the full spectrum of automotive components, aggregates and vehicles.

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Deepak Nitrite to announce Q3 and 9M results
Jan 23,2017

Deepak Nitrite announced that a meeting of the Board of Directors of the Company is scheduled to be held on 14 February 2017, inter alia, to consider and approve the Un-audited Financial Results of the Company for the Quarter and Nine Months ended 31 December 2016.

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