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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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Insurance Cover For Railway Passengers
Nov 17,2016

An Optional Travel Insurance Scheme on a pilot basis for one year has been launched w.e.f 01 September 2016 for the railway passengers who book e-ticket through official website of Indian Railway Catering & Tourism Corporation (IRCTC). Under the scheme reserved passengers who expire or are disabled permanently or partially due to train accident and untoward incidents during train journey will be entitled to sum assured as per the details given below. The objective behind the scheme is to maximize compensation to the passengers for the loss caused to them by train accident and untoward incidents.

IRCTC which is a wholly owned undertaking of Ministry of Railways has entered into an agreement with three Insurance Companies through Limited Tender, namely

(i) Shriram General Insurance Company,

(ii) ICICI Lombard General Insurance Company, &

(iii) Royal Sundaram General Insurance

The amount of compensation to be given to passengers are as follows

(i) In case of Death- ₹ 10 lakh

(ii) Permanent Total Disability - ₹ 10 Lakh

(iii) Permanent Partial Disability - ₹ 7.5 Lakh

(iv) Hospitalization Expenses for Injury - ₹ 2 Lakh &

(v) Transportation of mortal remains - ₹ 10 Thousand.

The insurance cover will cover all reserved classes (SL, 1AC, 2AC, 3AC) and trains except passenger trains & Sub-Urban trains for tickets booked online on the IRCTC website. Personal belongings are not covered under the said scheme.

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Bharti Airtel edges higher after completing merger of subsidiary with Robi Axiata
Nov 17,2016

The announcement was made after market hours yesterday, 16 November 2016.

Meanwhile, the S&P BSE Sensex was down 24.57 points or 0.12% at 26,267.38.

On BSE, so far 40,510 shares were traded in the counter as against average daily volume of 3.04 lakh shares in the past one quarter. The stock hit a high of Rs 315.30 and a low of Rs 308.80 so far during the day. The stock had hit a 52-week high of Rs 384.90 on 28 April 2016. The stock had hit a 52-week low of Rs 282.30 on 29 January 2016. The stock outperformed the market over the past one month till 16 November 2016, gaining 1.2% compared with the Sensexs 4.97% fall. The scrip however underperformed the market in past one quarter, declining 9.9% as against the Sensexs 6.29% decline.

The large-cap company has equity capital of Rs 1998.70 crore. Face value per share is Rs 5.

Bharti Airtel said that the merger was completed following the fulfilment of the condition precedents to the agreement and filing of the merger order with the registrar of joint stock companies and firms of Bangladesh Court. Post the merger, Axiata will hold 68.7% stake in the combined entity, while Airtel will hold 25%. The remaining 6.3% stake will be held by NTT DoCoMo. The combined entity will be the second largest mobile operator in Bangladesh with approximately 3.22 crore customers and will operate under the Robi Axiata brand. It is well positioned to deliver an unparalleled portfolio of innovative mobile and broadband offerings at affordable rates with deep network coverage.

The joint strengths of Robi and Airtel sets the stage for the company to deliver the widest mobile network coverage across Bangladesh, enhancing its stronghold in the mobile Internet segment as well as consolidating its position as the second largest operator in the country.

The merger strengthens the long-term sustainability of the Bangladesh telecoms landscape and business environment, and will secure faster nationwide rollout of mobile broadband as well as contribute significantly to the overall economy of the country.

On a consolidated basis, Bharti Airtels net profit fell 4.9% to Rs 1460.70 crore on 3.4% growth in net sales to Rs 24651.50 crore in Q2 September 2016 over Q2 September 2015.

Bharti Airtel is a leading global telecommunications company with operations in 18 countries across Asia and Africa.

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SCI sinks after reverse turnaround in Q2
Nov 17,2016

Total income fell 29.58% to Rs 805.77 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 16 November 2016.

Meanwhile, the BSE Sensex was down 11.77 points, or 0.04%, to 26,286.92

On BSE, so far 99,000 shares were traded in the counter, compared with average daily volume of 1.62 lakh shares in the past one quarter. The stock hit a high of Rs 61 and a low of Rs 58.50 so far during the day. The stock hit a 52-week high of Rs 100.90 on 21 December 2015. The stock hit a 52-week low of Rs 54.50 on 29 February 2016.

The small-cap company has equity capital of Rs 465.80 crore. Face value per share is Rs 10.

The result was announced after market hours yesterday, 16 November 2016.

Shipping Corporation of India (SCI) owns and operates around one-third of the Indian tonnage, and has operating interests in practically all areas of the shipping business; servicing both national and international trades. Government of India currently holds 63.75% stake in SCI (as on 30 September 2016).

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Assistance to Tamil Nadu for Purchase of Turmeric Boilers
Nov 17,2016

Government through the Spices Board provides assistance to the turmeric growers for installing turmeric polishers under the Mission for Integrated Development of Horticulture (MIDH). As per the scheme, 35% of the actual cost of the turmeric polisher subject to a maximum of Rs. 87,500/- is provided as subsidy to SC, ST, small, marginal & Women farmers and Rs.62500/- as subsidy to other farmers in the major turmeric growing states including Tamil Nadu. During 2016-17, out of Rs.10.80 lakhs allotted for Turmeric Polisher under MIDH to Spices Board, an amount of Rs.2.62 lakhs has been allotted to Tamil Nadu.

Government through Spices Board also implements the scheme n++Export Oriented Production, Export Development & Promotion of Spicesn++, under which inter alia assistance is provided to the turmeric growers for installing turmeric boilers at the rate of 50% of the actual cost of the turmeric boilers, subject to a maximum of Rs.1.50 lakhs. During 2016-17, no financial assistance has been provided to the farmers in the turmeric growing areas of Tamil Nadu as of now.

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Board of SpiceJet to consider Q2 results
Nov 17,2016

SpiceJet announced that meeting of the Board of Directors of the Company will be held on 25 November 2016, inter alia, to consider and approve the un-audited financial results of the Company for the second quarter ended 30 September2016.

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Gujarat Industries Power Co to announce Q2 & HY results
Nov 17,2016

Gujarat Industries Power Co announced that the Board of Directors of the Company shall meet on 09 December 2016, inter alia, to consider and take on record the Unaudited Financial Results for the Second Quarter and Half Year of FY 2016-17 ended on 30 September 2016.

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Board of Indraprastha Gas declares interim dividend
Nov 17,2016

Indraprastha Gas announced that the Board of Directors in their meeting held on 16 November 2016, inter alia, has declared interim dividend of Rs. 3.5 per equity share of Rs. 10/- each (i.e. 35%) on the equity shares of the Company for the Financial Year 2016-17.

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Indraprastha Gas fixes record date for interim dividend
Nov 17,2016

Indraprastha Gas has fixed 30 November 2016 as the Record Date for the purpose of Payment of Interim Dividend.

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Axis Bank fully redeems and cancels 7.167 % Callable Hybrid Tier I Notes
Nov 17,2016

Axis Bank announced the full redemption and cancellation to holders of U.S.$46,000,000 - 7.167 % Callable Hybrid Tier I Notes (The Notes) issued pursuant to Axis Bank, acting through its Singapore Branch (formerly known as UTI Bank, acting through its Singapore Branch).

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Chankya Investments renamed as Antariksh Industries
Nov 17,2016

Chankya Investments announced that pursuant to Special Resolution passed by the Members of the Company under Section 13 and other applicable provisions, if any, of the Companies Act, 2013, through Postal Ballot process, the Registrar of Companies, Maharashtra, Mumbai, has changed the name of the Company from CHANKYA INVESTMENTS to ANTARIKSH INDUSTRIES vide fresh Certificate of Incorporation dated 07 November 2016.

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Esteem Bio Organic Food Processing announces resignation of Company Secretary
Nov 17,2016

Esteem Bio Organic Food Processing announced that CS Nishu Tomar has resigned from the date of 15 November 2016.

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Indraprastha Gas hardens after good Q2 earnings
Nov 17,2016

The result was announced after market hours yesterday, 16 November 2016.

Meanwhile, the BSE Sensex was up 62.64 points, or 0.24%, to 26,361.33

On BSE, so far 47,000 shares were traded in the counter, compared with an average volume of 69,792 shares in the past one quarter. The stock hit a high of Rs 864.80 and a low of Rs 835.35 so far during the day. The stock hit a record high of Rs 896.40 on 10 November 2016. The stock hit a 52-week low of Rs 454 on 9 December 2015.

The large-cap company has an equity capital of Rs 140 crore. Face value per share is Rs 10.

Indraprastha Gas retails CNG to automobiles and piped cooking gas to households in Delhi and adjoining cities of Ghaziabad, Noida and Greater Noida.

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ITC announces cessation of subsidiary - King Maker Marketing, Inc., USA
Nov 17,2016

ITC announced that King Maker Marketing, Inc., USA has ceased to be a subsidiary of the Company with immediate effect.

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Board of ObjectOne Information Systems appoints CFO
Nov 17,2016

ObjectOne Information Systems announced that Rama Krishna Adiraju has been appointed as CFO of the Company (w.e.f. 14 November 2016) and the decision taken in the Board Meeting held on 14 November 2016.

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Decillion Finance reports standalone net profit of Rs 0.03 crore in the September 2016 quarter
Nov 17,2016

Net profit of Decillion Finance reported to Rs 0.03 crore in the quarter ended September 2016 as against net loss of Rs 0.01 crore during the previous quarter ended September 2015. Sales rose 360.00% to Rs 0.69 crore in the quarter ended September 2016 as against Rs 0.15 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales0.690.15 360 OPM %4.35-6.67 - PBDT0.03-0.01 LP PBT0.03-0.01 LP NP0.03-0.01 LP

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