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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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JVL Agro gains as Asia Investment Corp hikes stake
Mar 03,2017

Meanwhile, the S&P BSE Sensex was down 63.98 points or 0.22% at 28,775.81.

On the BSE, 17,000 shares were traded on the counter so far as against the average daily volumes of 79,825 shares in the past one quarter. The stock had hit a high of Rs 20.80 and a low of Rs 20.10 so far during the day.

The stock had hit a 52-week high of Rs 25.45 on 22 June 2016 and a 52-week low of Rs 14 on 22 November 2016. It had underperformed the market over the past one month till 2 March 2017, sliding 6.44% compared with the Sensexs 2.17% rise. The scrip had, however, outperformed the market over the past one quarter, advancing 19.88% as against the Sensexs 9.95% rise.

The small-cap company has equity capital of Rs 16.79 crore. Face value per share is Rs 1.

Asia Investment Corporation (Mauritius) held 2.81% stake in JVL Agro Industries end December 2016.

Shares of JVL Agro Industries were on a declining spree in the recent past. The stock had fallen 6.44% in the preceding four trading sessions to settle at Rs 19.60 yesterday, 2 March 2017, from its close of Rs 20.95 on 23 February 2017.

JVL Agro Industries net profit fell 21.5% to Rs 10.78 crore on 8.2% decline in net sales to Rs 1042 crore in Q3 December 2016 over Q3 December 2015.

JVL Agro Industries is engaged in the operations related to production of vanaspati, refine and mustard oil, and trading of goods.

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DCB Bank gains on plans to raise funds
Mar 03,2017

The announcement was made after market hours yesterday, 2 March 2017.

Meanwhile, the BSE Sensex was down 57.15 points, or 0.20%, to 28,782.64.

On the BSE, 6,697 shares were traded in the counter so far, compared with an average volume of 2.02 lakh shares in the past one quarter. The stock had hit a high of Rs 153.70 and a low of Rs 152.80 so far during the day. The stock had hit a 52-week high of Rs 158.70 on 2 March 2017. The stock had hit a 52-week low of Rs 71.70 on 29 March 2016.

DCB Bank said that a meeting of the board of directors of the bank will be held on 7 March 2017, to consider and approve, issue of securities/shares, including issue of securities/shares to qualified institutional buyers.

DCB is a private sector bank.

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L&T Construction wins orders
Mar 03,2017

Larsen & Toubro announced that its construction arm has secured orders worth Rs 2170 crore across its various business segments. The orders were received under the following segments -

Power transmission and distribution business - Rs 1169 crore
Water and effluent treatment business - Rs 360 crore
Building and factories business - Rs 320 crore
Others segments - Rs 321 crore

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L&T Construction wins orders
Mar 03,2017

Larsen & Toubro announced that its construction arm has secured orders worth Rs 2170 crore across its various business segments. The orders were received under the following segments -

Power transmission and distribution business - Rs 1169 crore
Water and effluent treatment business - Rs 360 crore
Building and factories business - Rs 320 crore

Others segments - Rs 321 crore

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ICICI Bank issues Fixed Rate Notes aggregating USD 300 million
Mar 03,2017

ICICI Bank acting through its DIFC (Dubai) branch, has issued 5.5 year Fixed Rate Notes aggregating USD 300 million under its GMTN programme. The notes were sold under RegSformat. The notes carry a coupon of 3.25% and were offered at an issue price of 99.447.

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Government has added over 4000 medical PG seats for 2017-18: J P Nadda Government has added over 4000 medical PG seats for 2017-18: J P Nadda
Mar 03,2017

Shri J P Nadda, Union Minister of Health and Family Welfare today stated that n++an all-time record number of over 4,000 PG medical seats have been approved by Government of India in various medical colleges and hospitals for the academic session 2017-18 this year, taking the total number of PG seats available to 35,117.n++

Thanking Prime Minister Shri Narendra Modi for his visionary leadership and constant guidance, Shri Nadda said that this will further boost our resolve to strengthen tertiary care and improve the medical education in the country. The Health Minister added that of the total increase, 2,046 seats are in medical colleges. Looking at the need to increase PG seats in clinical subjects, the Government had decided to amend the teacher student ratio in clinical subjects in government medical colleges. This change alone has resulted in the creation of 1,137 extra seats in 71 colleges. Many others out of the total of 212 government colleges are sending their proposals and it is expected that at least 1000 more seats can be added during the month of March 2017, Shri Nadda stated.

This includes DNB seats, which are equivalent to MD/MS, have increased by 2,147 in the last one year. Shri Nadda said that there has been a total addition of 4,193 PG seats in the country so far, and a further addition of more than 1000 seats is likely during March 2017. The budget announcement of adding 5,000 PG medical seats in the country is thus likely to be achieved soon, the Union Health Minister said.

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Government has added over 4000 medical PG seats for 2017-18: J P Nadda
Mar 03,2017

Shri J P Nadda, Union Minister of Health and Family Welfare today stated that n++an all-time record number of over 4,000 PG medical seats have been approved by Government of India in various medical colleges and hospitals for the academic session 2017-18 this year, taking the total number of PG seats available to 35,117.n++

Thanking Prime Minister Shri Narendra Modi for his visionary leadership and constant guidance, Shri Nadda said that this will further boost our resolve to strengthen tertiary care and improve the medical education in the country. The Health Minister added that of the total increase, 2,046 seats are in medical colleges. Looking at the need to increase PG seats in clinical subjects, the Government had decided to amend the teacher student ratio in clinical subjects in government medical colleges. This change alone has resulted in the creation of 1,137 extra seats in 71 colleges. Many others out of the total of 212 government colleges are sending their proposals and it is expected that at least 1000 more seats can be added during the month of March 2017, Shri Nadda stated.

This includes DNB seats, which are equivalent to MD/MS, have increased by 2,147 in the last one year. Shri Nadda said that there has been a total addition of 4,193 PG seats in the country so far, and a further addition of more than 1000 seats is likely during March 2017. The budget announcement of adding 5,000 PG medical seats in the country is thus likely to be achieved soon, the Union Health Minister said.

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DCB Bank may gain on plans to raise funds
Mar 03,2017

DCB Bank said that a meeting of the board of directors of the bank will be held on 7 March 2017, to consider and approve, issue of securities/shares, including issue of securities/shares to qualified institutional buyers. The announcement was made after market hours yesterday, 2 March 2017.

TCS has launched the next version of HOBS (Hosted OSS/BSS)- a TM Forum certified platform for digital enterprises- at Mobile World Congress in Barcelona. The announcement was made after market hours yesterday, 2 March 2017.

ICICI Bank acting through its DIFC (Dubai) branch, priced an issuance of 5.5 year fixed rate notes for an aggregate principal amount of $300 million. The notes were sold under the RegS format. The notes carry a coupon of 3.25% and were offered at an issue price of 99.447. The announcement was made after market hours yesterday, 2 March 2017.

Bharti Airtel has clarified with regards to news item titled Nokia, Airtel join hands on 5G, IoT applications that this is a routine ordinary course of business transaction that cannot and does not have a material impact on the company. Bharti Airtel has a long term strategic partnership with Nokia for network equipment and the present partnership is an extension of the association, it added. The announcement was made after market hours yesterday, 2 March 2017.

Tata Motors announced that the board constituted committee meeting held on 2 March 2017, approved offering for subscription 5,000 rated, listed, unsecured, 7.71% coupon, redeemable, non-convertible debentures of face value of Rs 10 lakh each aggregating up to Rs 500 crore on a private placement basis. NCDs have tenure of 1826 days from the deemed date of allotment. The announcement was made after market hours yesterday, 2 March 2017.

Corporation Bank has fixed the banks tenor based Marginal Cost of Funds Based Lending Rate (MCLR), for all new rupee loans and advances including renewals from 1 March 2017. Overnight MCLR was fixed at 8.25%, one month MCLR was fixed at 8.25%, three months MCLR was fixed at 8.3%, six months MCLR was fixed at 8.65% and one year MCLR was fixed at 8.75%. The announcement was made after market hours yesterday, 2 March 2017.

Hindalco Industries said that a meeting of the Capital Raising Committee will be held on or after 7 March, 2017 to inter alia consider and approve the issue price including a discount, if any thereto as permitted under the SEBI ICDR Regulations for the equity shares to be allotted to qualified institutional buyers pursuant to the QIP. The announcement was made after market hours yesterday, 2 March 2017.

Accel Frontline will be in focus. The board of directors of Accel Frontline approved the sale of the entire stake of a subsidiary company Accel Systems & Technologies Pte., Singapore (ASTL). The announcement was made after market hours yesterday, 2 March 2017.

National Aluminium Company said that the company has posted 16.8% growth in bauxite production upto February 2017 with a volume of 65.64 lakh tonnes, the highest since its inception. Similarly, the hydrate production at its refinery has also registered an increase of 6.8%. The hydrate production till February 2017 was 18.9 lakh tonnes as against 17.7 lakh tonnes for the same period in the previous year. At its aluminium smelter, cast metal production grew by 3.79% and the aluminium metal sales grew by 2.68%. The announcement was made after market hours yesterday, 2 March 2017.

Separately, the companys board of directors has approved payment of interim dividend of Rs 2.80 per share for the financial year ending 31 March 2017. The announcement was made after market hours yesterday, 2 March 2017.

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Outcome of board meeting of Dynacons Systems & Solutions
Mar 02,2017

Dynacons Systems & Solutions announced that the Board of Directors of the Company at its meeting held on 02 March 2017 has approved the following -

To convene EGM on 29 March 2017.

To consider alteration of Articles of Association of the Company in the EGM of the Company.

To issue 4.55 lakh equity shares and 27.95 lakh warrants on preferential basis.

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Board of Trilogic Digital Media appoints directors
Mar 02,2017

The Board of Directors of Trilogic Digital Media has approved the appointment of directors at its meeting held on 02 March 2017 -

Aparna Shah as Additional Executive Director
Shivani Jaisingh as Additional Executive Director
Arun Kareer as Additional Director
Shivanshu Pandey as Additional Independent Director

All appointments are with effect from 02 March 2017

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Outcome of board meeting of Confidence Finance & Trading
Mar 02,2017

Confidence Finance & Trading announced that the Board of Directors of the Company at its meeting held on 02 March 2017 has approved -

The Board has approved to open a Branch office at Ahemdabad, Gujarat.

The Board has authorized Suhag Vijaybhai Shah to make VAT application and execute other related documents.

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Zee Learn allots 158,525 equity shares
Mar 02,2017

Zee Learn has allotted 158,525 equity shares under ESOP. Consequently, the paid up equity share capital has increased to Rs 32.19 crore comprising of 321,984,131 equity shares of Re 1 each.

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IndusInd Bank allots 10,825 equity shares
Mar 02,2017

IndusInd Bank has allotted 10,825 (Ten Thousand Eight Hundred Twenty Five) equity shares of Rs. 10/- (Rupees Ten Only) each on 02 March 2017 to those grantees who had exercised their option under the Companys Employee Stock Option Scheme. The said shares will rank pari-passu with the existing shares of the Company in all respect.

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Adani Power allots 4,09,88,991 equity shares
Mar 02,2017

Adani Power has allotted 4,09,88,991 equity shares of Rs. 10/- each upon (with a premium of Rs 22.54 per equity share) on conversion of the Convertible Warrants. Consequently, the paid up share capital of the Company has increased to Rs 3732.86 crore comprising of 3,73,28,63,685 equity shares of Rs 10 each.

Subsequent to this allotment, the shareholding of the Promoter and Promoter Group has increased to 67.069% of the enhanced paid up equity share capital of the Company.

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Sambhaav Media allots 88 lakh equity shares
Mar 02,2017

Sambhaav Media has allotted 88 lakh equity shares of Re 1 each at an issue price of Rs 5 per share on conversion of warrants. Consequently, the paid up equity share capital has increased to Rs 15.49 crore comprising of 154910840 equity shares of Re 1 each.

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