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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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Cyient to hold board meeting
Jun 30,2017

Cyient will hold a meeting of the Board of Directors of the Company on 13 July 2017.

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Lyka Labs to hold board meeting
Jun 30,2017

Lyka Labs will hold a meeting of the Board of Directors of the Company on 4 July 2017.

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Cadila Healthcare gets stronger after USFDA nod for drug
Jun 30,2017

The announcement was made during market hours today, 30 June 2017.

Meanwhile, the S&P BSE Sensex was down 162.07 points, or 0 0.52% to 30,695.86.

On the BSE, 12,589 shares were traded in the counter so far, compared with average daily volumes of 1.54 lakh shares in the past one quarter. The stock had hit a high of Rs 527.35 and a low of Rs 518.80 so far during the day. The stock had hit a record high of Rs 558 on 12 June 2017. The stock had hit a 52-week low of Rs 319.35 on 29 June 2016.

The stock had outperformed the market over the past one month till 29 June 2017, gaining 14.3% compared with 0.81% fall in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 16.61% as against Sensexs 4.49% gains. The scrip had also outperformed the market in past one year, jumping 61.83% as against Sensexs 15.4% gains.

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

Cadila Healthcare said that it has received final approval from the United States Food & Drug Administration (USFDA) to market Phentermine Hydrochloride Orally Disintegrating Tablets in strengths of 15mg, 30 mg and 37.5 mg.

The drug is used together with diet and exercise to treat obesity (overweight) in people with risk factors such as high blood pressure, high cholesterol or diabetes and will be produced at the groups formulations manufacturing facility at Moraiya in Ahmedabad.

Cadila Healthcares consolidated net profit fell 32.2% to Rs 385.5 crore on 6.5% rise in net sales to Rs 2417.50 crore in Q4 March 2017 over Q4 March 2016.

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

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Indiabulls Real Estate allots NCDs aggregating Rs 500 crore
Jun 30,2017

The Operations Committee of the Board of Directors of Indiabulls Real Estate has allotted NCDs aggregating Rs 500 crore on private placement basis on 29 June 2017.

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Board of Omansh Enterprises accepts resignation of director
Jun 30,2017

The Board of Omansh Enterprises at its meeting held on 27 June 2017 has taken on record the resignation of Vidya Bhatia, Director from the Board with effect from 29 June 2017.

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ITC allots 47,82,200 equity shares
Jun 30,2017

ITC has allotted 47,82,200 Ordinary Shares of Re. 1/- each, upon exercise of 4,78,220 Options by Optionees under the Companys Employee Stock Option Schemes on 29 June 2017.

Consequently, the Issued and Subscribed Share Capital of the Company stands increased to Rs. 1215,21,65,271/- divided into 1215,21,65,271 Ordinary Shares of Re. 1/- each.

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Emmbi Industries incorporates LLP - Emmbi WatCon LLP
Jun 30,2017

Emmbi Industries has incorporated a Limited Liability Partnership in the name of Emmbi WatCon LLP. The main objective of the LLP is to undertake water conservation related contracts.

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PC Jeweller increases authorised share capital
Jun 30,2017

PC Jeweller announced that the Authorised Share Capital of the Company has increased from Rs 500 crore to Rs 700 crore comprising of 44 crore equity shares of Rs 10 each and 26 crore preference share of Rs 10 each.

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Federal Bank allots 215,517,241 equity shares
Jun 30,2017

Federal Bank has allotted 215,517,241 equity shares to eligible QIBs at an issue price of Rs 116 per equity share aggregating Rs 2500 crore. Post this allotment, the paid up equity share capital of the Bank has increased to 1,942,288,622 equity shares.

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Max Ventures and Industries announces cessation of director
Jun 30,2017

Max Ventures and Industries announced the cessation of Sujatha Ratnam as Non- Executive Director of the company w.e.f. 28 June 2017.

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Kovai Medical Center & Hospital to pay dividend
Jun 30,2017

Kovai Medical Center & Hospital announced that dividend, if declared at the ensuing Annual General Meeting will be paid to the shareholders of the company on or after 12 August 2017.

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Shares of Containerway International get listed
Jun 30,2017

The equity shares of Containerway International (Scrip Code: 540597) are listed effective 30 June 2017 and admitted to dealings on the Exchange in the list of XT Group Securities.

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Time Technoplast gains after announcing plans for launching composite cylinders
Jun 30,2017

The announcement was made after market hours yesterday, 29 June 2017.

Meanwhile, the BSE Sensex was down 158.56 points, or 0.51%, to 30,698.96. The BSE Mid-Cap index was down 66.09 points, or 0.45%, to 14,486.40.

On BSE, so far 9,835 shares were traded in the counter as against an average daily volume of 1.99 lakh shares in the past one quarter. The stock hit a high of Rs 158.25 and hit a low of Rs 155.10 so far during the day. The stock had hit a record high of Rs 177 on 9 June 2017. The stock had hit a 52-week low of Rs 48.85 on 22 July 2016.

The mid-cap polymer products maker has an equity capital of Rs 22.61 crore. Face value per share is Re 1.

Time Technoplast announced successful trial production and testing of Carbon Fiber based Composite Cylinders for CNG for automotive applications. This has been done for the first time in India. Company has developed 60 litre and 30 litre non-metallic Type-4 Composite Cylinders which are able to withstand burst pressure of over 550 bars. It shortly starts process of getting approval from independent third party and PESO before putting them on field trials.

These LiteSafe Composite Cylinders offer numerous technical and operational advantages over conventional steel cylinders for the same application, Time Technoplast said. Automotive companies are keen to replace metal cylinders with Composite Cylinders to reduce weight and improve upon fuel efficiency. These cylinders are likely to find their way both with OEM and aftermarket. It also has a huge export potential, the company said.

The company is planning to launch these cylinders in second half of the year ending 31 March 2019 (FY 2019) after obtaining necessary approvals and extensive trials, Time Technoplast said.

On a consolidated basis, Time Technoplasts net profit rose 33.45% to Rs 43.05 crore on 25.41% increase in net sales to Rs 810.07 crore in Q4 March 2017 over Q4 March 2016.

Time Technoplast is a leading manufacturer of polymer products. The companys portfolio consists of technically driven innovative products catering to growing industry segments like, industrial packaging solutions, lifestyle products, automotive components, healthcare products, infrastructure / construction related products, material handling solutions & composite cylinders.

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Time Technoplast gains on plans to launch composite cylinders
Jun 30,2017

The announcement was made after market hours yesterday, 29 June 2017.

Meanwhile, the BSE Sensex was down 158.56 points, or 0.51%, to 30,698.96. The BSE Mid-Cap index was down 66.09 points, or 0.45%, to 14,486.40.

On BSE, so far 9,835 shares were traded in the counter as against an average daily volume of 1.99 lakh shares in the past one quarter. The stock hit a high of Rs 158.25 and hit a low of Rs 155.10 so far during the day. The stock had hit a record high of Rs 177 on 9 June 2017. The stock had hit a 52-week low of Rs 48.85 on 22 July 2016.

The mid-cap polymer products maker has an equity capital of Rs 22.61 crore. Face value per share is Re 1.

Time Technoplast announced successful trial production and testing of Carbon Fiber based Composite Cylinders for CNG for automotive applications. This has been done for the first time in India. Company has developed 60 litre and 30 litre non-metallic Type-4 Composite Cylinders which are able to withstand burst pressure of over 550 bars. It shortly starts process of getting approval from independent third party and PESO before putting them on field trials.

These LiteSafe Composite Cylinders offer numerous technical and operational advantages over conventional steel cylinders for the same application, Time Technoplast said. Automotive companies are keen to replace metal cylinders with Composite Cylinders to reduce weight and improve upon fuel efficiency. These cylinders are likely to find their way both with OEM and aftermarket. It also has a huge export potential, the company said.

The company is planning to launch these cylinders in second half of the year ending 31 March 2019 (FY 2019) after obtaining necessary approvals and extensive trials, Time Technoplast said.

On a consolidated basis, Time Technoplasts net profit rose 33.45% to Rs 43.05 crore on 25.41% increase in net sales to Rs 810.07 crore in Q4 March 2017 over Q4 March 2016.

Time Technoplast is a leading manufacturer of polymer products. The companys portfolio consists of technically driven innovative products catering to growing industry segments like, industrial packaging solutions, lifestyle products, automotive components, healthcare products, infrastructure / construction related products, material handling solutions & composite cylinders.

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Meghmani Organics to hold AGM
Jun 30,2017

Meghmani Organics announced that the 23th Annual General Meeting (AGM) of the company will be held on 27 July 2017.

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