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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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Galada Finance to hold board meeting
Nov 01,2016

Galada Finance will hold a meeting of the Board of Directors of the Company on 12 November 2016, to consider, approve and take on record the Unaudited Financial Results for the quarter ended 30 September 2016.

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Galada Power & Telecommunication to hold board meeting
Nov 01,2016

Galada Power & Telecommunication will hold a meeting of the Board of Directors of the Company on 12 November 2016, to approve the Un-audited Financial Results for the half year ended 30 September 2016.

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Board of Kitex Garments recommends dividend
Nov 01,2016

Kitex Garments announced that the Board of Directors of the Company at its meeting held on 31 October 2016, inter alia, have recommended the dividend of Rs 0.75 per equity Share (i.e. 75%) , subject to the approval of the shareholders.

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ATN International to hold board meeting
Nov 01,2016

ATN International will hold a meeting of the Board of Directors of the Company on 10 November 2016, to consider and take on record the Unaudited Financial Results of the Company for the quarter ended September 30 2016.

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Super Forgings & Steels to hold board meeting
Nov 01,2016

Super Forgings & Steels will hold a meeting of the Board of Directors of the Company on 12 November 2016, to approve the Unaudited Financial Results for the quarter & half year ended on 30 September 2016;

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Hinduja Foundries to hold board meeting
Nov 01,2016

Hinduja Foundries will hold a meeting of the Board of Directors of the Company on 9 November 2016, to consider the unaudited financial results of the Company for the quarter / half year ended 30 September 2016.

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Sinnar Bidi Udyog to hold board meeting
Nov 01,2016

Sinnar Bidi Udyog will hold a meeting of the Board of Directors of the Company on 11 November 2016 to take on record Un-Audited Financial Results of the Company for the quarter and half year ended 30 September 2016.

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IFCI to hold board meeting
Nov 01,2016

IFCI will hold a meeting of the Board of Directors of the Company on 12 November 2016, to consider and approve the Financial Results of the Company for the quarter and half-year ended 30 September 2016 (Q2).

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EID Parry (India) to hold board meeting
Nov 01,2016

EID Parry (India) will hold a meeting of the Board of Directors of the Company on 7 November 2016, to approve the unaudited financial results of the Company for the Quarter ended 30 September 2016 (Q2).

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Govind Poy Oxygen to hold board meeting
Nov 01,2016

Govind Poy Oxygen will hold a meeting of the Board of Directors of the Company on 12 November 2016.

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Linde India to hold board meeting
Nov 01,2016

Linde India will hold a meeting of the Board of Directors of the Company on 10 November 2016, to approve the Unaudited Financial Results of the Company for the 3rd quarter ended on 30 September 2016.

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Binny to hold board meeting
Nov 01,2016

Binny will hold a meeting of the Board of Directors of the Company on 8 November 2016, to approve the unaudited Financial Results for the quarter ended on 30 September 2016.

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Kitex Garments tumbles after weak Q2 results
Nov 01,2016

The result was announced yesterday, 31 October 2016. The stock market was closed on that day for a holiday.

Meanwhile, the S&P BSE Sensex was down 6.97 points or 0.02% at 27,923.24.

On BSE, so far 91,000 shares were traded in the counter as against average daily volume of 9,460 shares in the past one quarter. The stock hit a high of Rs 463.85 and a low of Rs 410 so far during the day. The stock had hit a 52-week low of Rs 340 on 29 February 2016. The stock had hit a 52-week high of Rs 745 on 24 December 2015. The stock had outperformed the market over the past one month till 30 October 2016, advancing 16.57% compared with 0.23% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 3.67% as against Sensexs 0.43% fall.

The small-cap company has equity capital of Rs 4.75 crore. Face value per share is Rs 1.

Kitex Garments is a producer of childrens apparel.

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Eight core infrastructure sector output rises 5.0% in September 2016
Nov 01,2016

The Eight Core Infrastructure Industries comprising nearly 38% of the weight of items included in the Index of Industrial Production (IIP) has recorded 5.0% growth in its output in September 2016 over September 2015.

Its cumulative output growth was 4.6% during April to September 2016-17.

Coal production (weight: 4.38%) declined by 5.8% in September 2016 over September 2015. Its cumulative index during April to September 2016-17 increased by 1.2% over corresponding period of previous year.

Crude Oil production (weight: 5.22%) declined by 4.1% in September 2016 over September 2015. Its cumulative index during April to September 2016-17 declined by 3.3% over the corresponding period of previous year.

The Natural Gas production (weight: 1.71%) declined by 5.5% in September 2016 over September 2015. Its cumulative index during April to September 2016-17 declined by 4.4% over the corresponding period of previous year.

Petroleum Refinery production (weight: 5.94%) increased by 9.3% in September 2016 over September 2015. Its cumulative index during April to September 2016-17 increased by 7.9% over the corresponding period of previous year.

Fertilizer production (weight: 1.25%) increased by 2.0% in September 2016 over September 2015. Its cumulative index during April to September 2016-17 increased by 5.6% over the corresponding period of previous year.

Steel production (weight: 6.68%) increased by 16.3% in September 2016 over September 2015. Its cumulative index during April to September 2016-17 increased by 7.2% over the corresponding period of previous year.

Cement production (weight: 2.41%) increased by 5.5% in September 2016 over September 2015. Its cumulative index during April to September 2016-17 increased by 4.5% over the corresponding period of previous year.

Electricity generation (weight: 10.32%) increased by 2.2% in September 2016 over September 2015. Its cumulative index during April to September 2016-17 increased by 5.1% over the corresponding period of previous year.

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Cadila Healthcare gains ahead of presenting new data of Saroglitazar
Nov 01,2016

The announcement was made yesterday, 31 October 2016.

Meanwhile, the BSE Sensex was down 9.75 points, or 0.03%, to 27,920.46.

On BSE, so far 17,000 shares were traded in the counter, compared with average daily volume of 86,520 shares in the past one quarter. The stock hit a high of Rs 429.45 and a low of Rs 417.55 so far during the day. The stock hit a 52-week high of Rs 437 on 5 November 2015. The stock hit a 52-week low of Rs 295.50 on 18 January 2016. The stock had outperformed the market over the past 30 days till 30 October 2016, rising 7.94% compared with 0.23% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 18.84% as against Sensexs 0.26% decline.

The large-cap company has equity capital of Rs 102.37 crore. Face value per share is Re 1.

Cadila Healthcare said that Saroglitazar (Lipaglyn), a novel agonist having predominant PPAR alpha activity, was launched in India as a prescription medicine for the treatment of Hypertriglyceridemia and Diabetic Dyslipidemia in patients with Type 2 Diabetes not controlled by statins. Saroglitazar is currently being evaluated in several clinical trials in India and other countries.

Cadila Healthcares consolidated net profit fell 28.93% to Rs 337.60 crore on 3.08% increase in net sales to Rs 2336.30 crore in Q2 September 2016 over Q2 September 2015.

Cadila Healthcare is a global pharmaceutical company that discovers, manufactures and markets a broad range of healthcare therapies.

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