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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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Board of UltraTech Cement to consider Q3 results
Jan 10,2017

UltraTech Cement announced that a meeting of the Board of Directors of the Company will be held on 21 January 2017, inter alia, to consider and approve the un-audited financial results of the Company for the quarter ended 31 December 2016 (Q3).

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Board of Chokhani Securities to consider December quarter results
Jan 10,2017

Chokhani Securities announced that meeting of Board of Directors of Company is scheduled to be held on 09 February 2017, inter alia, to consider Unaudited Financial Results for the quarter ended 31 December 2016.

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Sagar Cements to announce Q3 and 9M results
Jan 10,2017

Sagar Cements announced that a meeting of the Board of Directors of our Company will be held on 25 January 2017, inter-alia, to consider and take on record the un-audited stand alone and consolidated financial results of the Company for the third quarter and nine months ended 31 December 2016.

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Vindhya Telelinks announces change in company secretary
Jan 10,2017

Vindhya Telelinks announced Ashok Mishra, Company Secretary & Compliance Officer, a Key Managerial Personnel of the Company, has resigned from the services of the Company with effect from close of business hours on 10 January 2017. The Board of Directors of the Company has appointed Raj Kumar Agarwal as the Company Secretary & Compliance Officer of the Company with effect from 11 January 2017.

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Suraj to announce December quarter results
Jan 10,2017

Suraj announced that a Meeting of the Board of Directors of the Company will be held on 23 January 2017, to consider and approve inter alia, Financial Results for the quarter ended 31 December 2016 along with the other routine business.

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India & Portugal to work out a co-production agreement in Films Sector
Jan 10,2017

India and Portugal have agreed to work out modalities for a co-production agreement in the Film Sector. The agreement would be framed in a time-bound manner keeping in mind the legal aspects of such an agreement. A possibility of an MoU between the Public Broadcasters of both the Countries to share best practices and seek cooperation in Technical and Content related matters was also discussed. The discussions took place during a meeting between Minister of State for Information & Broadcasting Col. Rajyavardhan Rathore and Portugal Minister of Culture, Mr. Luis Filipe Castro Mendes.

During the deliberations, Col. Rathore apprised the Portuguese Minister on the initiatives taken by Ministry of I&B to provide Single Window clearances for Foreign Film Producers in the country through the Film Facilitation Office. He also highlighted the prestigious National Film Heritage Mission of the Government to Digitise, Restore, Preserve the rich filmic heritage of the Country.

Speaking on the occasion, the Minister also apprised the Portuguese Minister about the IIMC and FTII as the premier educational institutes in the field of Journalism and Film Production respectively in the country. The Ministers also discussed the possibility of Student Exchange programmes between educational institutions of both the countries. Ministers also expressed interest for possible co-operation in the areas of Renewable energy, information and communication technology and Start-ups.

The Ministers also expressed interest in sharing of experiences and best practices in Social Media to enhance the outreach.

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MRPL leads gainers in A group
Jan 10,2017

MRPL jumped 5.52% to Rs 113.80 at 13:21 IST. The stock topped the gainers in the BSEs A group. On the BSE, 7.16 lakh shares were traded on the counter so far as against the average daily volumes of 4.57 lakh shares in the past two weeks.

Punj Lloyd surged 5.22% to Rs 21.15. The stock was the second biggest gainer in A group. On the BSE, 6.05 lakh shares were traded on the counter so far as against the average daily volumes of 1.53 lakh shares in the past two weeks.

Hindustan Copper gained 5.11% at Rs 67.85. The stock was the third biggest gainer in A group. On the BSE, 9.89 lakh shares were traded on the counter so far as against the average daily volumes of 4.78 lakh shares in the past two weeks.

Gujarat State Fertilizers & Chemicals advanced 4.73% at Rs 113. The stock was the fourth biggest gainer in A group. On the BSE, 13.91 lakh shares were traded on the counter so far as against the average daily volumes of 6.41 lakh shares in the past two weeks.

Ramco Cements rose 4.23% to Rs 600.85. The stock was the fifth biggest gainer in A group. On the BSE, 20,000 shares were traded on the counter so far as against the average daily volumes of 76,000 shares in the past two weeks.

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Board of Uniroyal Industries to consider December quarter results
Jan 10,2017

Uniroyal Industries announced that the meeting of the Board of Directors of the company will be held on 31 January 2016, inter alia, to consider and take on record the Un Audited Financial Results for the Quarter ended on 31 December 2016.

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JSW Steel to announce Q3 results
Jan 10,2017

JSW Steel announced that a meeting of the Board of Directors has been convened to be held on 31 January 2017, inter alia, to consider the Un-audited Standalone & Consolidated Financial results of the Company for the quarter ended 31 December 2016 (Q3).

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Shiva Cement logs concrete gains on likely change of guard
Jan 10,2017

The company announced the board meeting after trading hours yesterday, 9 January 2017.

Meanwhile, the S&P BSE Sensex was up 135.50 points, or 0.51% at 26,862.05

On the BSE, 18.56 lakh shares were traded on the counter so far as against the average daily volumes of 6.76 shares in the past one quarter.

The stock hit a high of Rs 13.15 in intraday trade so far, which is 52-week high for the counter. The stock had hit a low of Rs 12.20 so far during the day. The stock hit a 52-week low of Rs 4.15 on 25 February 2016. The stock had outperformed the market over the past 30 days till 9 January 2017, gaining 26.95% compared with Sensexs 0.08% fall. The scrip had also outperformed the market in past one quarter, surging 46.55% as against Sensexs 4.83% decline.

The small-cap company has equity capital of Rs 37.40 crore. Face value per share is Rs 2.

Shiva Cement said that the board meeting of directors of the company will be held on 10 January 2017, to consider proposal of a cement company for purchasing promoters shares in Shiva Cement and thereby enabling them to invest and expand plant capacity of Shiva Cement. Promoter holding stood at 37.15% (as at 30 September 2016).

Shiva Cement was incorporated in the year 1985 and first commercial production commenced in 1986. The companys manufacturing facility is located at Orissa. Both Portland Slag Cement (PSC) and Portland Pozzolana Cement (PPC) are produced and marketed under Sumangal brand.

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Board of Alembic Pharmaceuticals to consider Q3 results
Jan 10,2017

Alembic Pharmaceuticals announced that a Meeting of Board of Directors of the Company shall be held on 25 January 2017, inter alia, to consider and approve the Unaudited Financial Results of the Company for the quarter and nine months period ended on 31 December 2016 (Q3).

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Volumes jump at Essel Propack counter
Jan 10,2017

Essel Propack volume of 2.33 lakh shares by 12:25 IST on BSE, a 108.8-times surge over two-week average daily volume of 2,141 shares. The stock fell 0.78% to Rs 246.95.

Cerebra Integrated Technologies notched up volume of 1.03 crore shares, a 18.68-fold surge over two-week average daily volume of 5.55 lakh shares. The stock slumped 8.98% to Rs 26.85.

Max Ventures and Industries saw volume of 16.81 lakh shares, a 11.01-fold surge over two-week average daily volume of 1.53 lakh shares. The stock surged 14.69% to Rs 76.90 after the company said that it will sell 22.5% stake to a subsidiary of New York Life Insurance Company.

The board of the company made a preferential offer, subject to shareholders approval, to issue common stock to a subsidiary of New York Life Insurance Company. The announcement was made after market hours yesterday, 9 January 2017.

Carborundum Universal clocked volume of 4.08 lakh shares, a 8.83-fold surge over two-week average daily volume of 46,000 shares. The stock declined 0.63% to Rs 254.10.

IIFL Holdings saw volume of 6.82 lakh shares, a 6.57-fold rise over two-week average daily volume of 1.04 lakh shares. The stock rose 0.78% to Rs 260.

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Board of Chase Bright Steel to consider December quarter results
Jan 10,2017

Chase Bright Steel announced that a Meeting of the Board of Directors of the Company is scheduled to be held on 10 February 2017, to consider and take on record the Unaudited Financial Result for the quarter ended on 31 December 2016.

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Tata Elxsi strengthens after winning new customer in China
Jan 10,2017

The announcement was made after market hours yesterday, 9 January 2017.

Meanwhile, the S&P BSE Sensex was up 127.57 points or 0.48% at 26,854.12.

On the BSE, 33,464 shares were traded on the counter so far as against the average daily volumes of 85,295 shares in the past one quarter. The stock had hit a high of Rs 1,425.80 and a low of Rs 1,400 so far during the day. The stock had hit a record high of Rs 2,396 on 2 February 2016 and a 52-week low of Rs 1,021.65 on 21 November 2016.

The stock had underperformed the market over the past one month till 9 January 2017, falling 2.87% compared with the Sensexs 0.08% fall. The scrip had, however, outperformed the market in past one quarter, rising 2.87% as against the Sensexs 4.76% fall.

The mid-cap company has equity capital of Rs 31.14 crore. Face value per share is Rs 10.

Tata Elxsi announced the adoption of the V2X test system by CAICT, a scientific research institute directly under the Ministry of Industry and Information Technology of China. This next generation test system is developed by the company in partnership with Spirent, a global leader in test solutions for automotive networking and communications.

It provides a flexible, scalable and comprehensive test environment for testing and performance benchmarking of V2X applications, in various stages of the development cycle, right from early research up to pre-production.

Using a combination of Tata Elxsis Patent pending V2X Emulator software and Spirents advanced solutions for GNSS and radio channel simulation, the integrated V2X test bed offers the ability to bring real-world traffic scenarios into the lab and thereby significantly reduces costs and time associated with extensive field testing. Various driving scenarios can be emulated under a variety of terrain, wireless channel & atmospheric conditions.

Tata Elxsis net profit rose 2.74% to Rs 43.08 crore on 3.04% growth in net sales to Rs 303.29 crore in Q2 September 2016 over Q1 June 2016. The company will announce its Q3 results on 25 January 2017.

Tata Elxsi is a global product engineering services provider that works with leading original equipment manufacturers (OEMs) and semiconductor companies across consumer electronics, broadcast, wired and wireless communications and automotive verticals.

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Bharat Electronics advances as foreign brokerage assigns outperformer rating
Jan 10,2017

Meanwhile, the S&P BSE Sensex was up 134.93 points or 0.5% at 26,861.48

On the BSE, 80,000 shares were traded on the counter so far as against the average daily volumes of 33,620 shares in the past one quarter. The stock had hit a high of Rs 1,526.90 and a low of Rs 1,464.60 so far during the day.

The stock had hit a record high of Rs 1,540 on 9 December 2016 and a 52-week low of Rs 1,009 on 1 March 2016. The stock had underperformed the market over the past 30 days till 9 January 2017, sliding 3.98% compared with Sensexs 0.08% fall. The scrip had, however, outperformed the market in past one quarter, gaining 15.95% as against Sensexs 4.83% decline.

The large-cap company has equity capital of Rs 223.36 crore. Face value per share is Rs 10.

Bharat Electronics net profit rose 68.2% to Rs 346.25 crore on 15.1% growth in net sales to Rs 1755.89 crore in Q2 September 2016 over Q2 September 2015.

Bharat Electronics was established at Bangalore, India, by the Government of India under the Ministry of Defence in 1954 to meet the specialised electronic needs of the Indian defence services. Over the years, it has grown into a multi-product, multi-technology, multi-unit company servicing the needs of customers in diverse fields in India and abroad.

The Government of India held 74.41% stake in Bharat Electronics (as per the shareholding pattern as on 31 December 2016).

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