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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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Sun Pharma gains after announcing acquisition of Ocular Technologies, Sarl.
Oct 27,2016

The announcement was made after market hours yesterday, 26 October 2016.

Meanwhile, the BSE Sensex was down 85.40 points, or 0.31%, to 27,749.23

On BSE, so far 53,000 shares were traded in the counter, compared with average daily volume of 2.76 lakh shares in the past one quarter. The stock hit a high of Rs 749.70 and a low of Rs 737.55 so far during the day. The stock hit a 52-week high of Rs 909.90 on 27 October 2015. The stock hit a 52-week low of Rs 706.40 on 24 November 2015. The stock had underperformed the market over the past 30 days till 26 October 2016, falling 4.02% compared with 1.37% decline in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 10.23% as against Sensexs 1.32% decline.

The large-cap company has equity capital of Rs 240.68 crore. Face value per share is Re 1.

Sun Pharmaceutical Industries (Sun Pharma) announced the execution of definitive agreements by its wholly owned subsidiary for the acquisition of 100% of Ocular Technologies, Sarl (OTS), a portfolio company of Auven Therapeutics (Auven), an international private equity company focused on accelerated development of breakthrough therapeutic drugs. OTS owns exclusive, worldwide rights to Seciera (cyclosporine A, 0.09% ophthalmic solution). Sun Pharma will pay Auven $40 million upfront, plus contingent development milestones and sales milestones as well as tiered royalty on sales of Seciera as consideration for this acquisition.

Seciera is currently in a Phase-3 confirmatory clinical trial for the treatment of Dry Eye Disease, an inflammatory ocular disease affecting approximately 16 million people in the United States alone. Seciera is a patented, novel, proprietary formulation of cyclosporine A 0.09%. It is a clear, preservative-free, aqueous solution. In a completed Phase 2b/3 clinical trial in 455 patients, Seciera demonstrated a rapid onset of action and was well tolerated by the study population. Based on the published data in literature, the efficacy and safety endpoints in these trials compared favorably to other formulations of cyclosporine A.

The transaction is subject to approval of the US Federal Trade Commission as required under the Hart-ScottRodino Act and other closing conditions, and is expected to be completed by end of 2016, Sun Pharma said.

Separately, Sun Pharma announced before market hours today, 27 October 2016 that its wholly owned subsidiary has launched in US, the Authorized Generic (AG) versions for all strengths of Olmesartan Medoxomil tablets - therapeutic equivalent of Daiichi Sankyo Inc.s Benicar (olmesartan medoxomil) tablets; Olmesartan Medoxomil-Hydrochlorothiazide tablets - therapeutic equivalent of Daiichi Sankyo Inc.s Benicar HCT (olmesartan medoxomil-hydrochlorothiazide) tablets; Amlodipine Besylate-Olmesartan Medoxomil tablets - therapeutic equivalent of Daiichi Sankyo Inc.s Azor (amlodipine and olmesartan medoxomil) tablets; and Amlodipine Besylate-Hydrochlorothiazide-Olmesartan Medoxomil tablets - therapeutic equivalent of Daiichi Sankyo Inc.s Tribenzor (olmesartan medoxomil, amlodipine, hydrochlorothiazide) tablets.

The launch is pursuant to a distribution and supply agreement between Sun Pharmas wholly owned subsidiary and Daiichi Sankyo Inc., which grants the Sun Pharma subsidiary, exclusive rights to distribute these tablets in the US for a pre-determined period. Benicar, Benicar HCT, Azor and Tribenzor recorded US sales of approximately $2.5 billion for the 12 months ending 31 August 2016, as per IMS Health.

Sun Pharma announces its Q2 results on 10 November 2016. The companys consolidated net profit surged 265.8% to Rs 2033.71 crore on 22.7% growth in net sales to Rs 8006.68 crore in Q1 June 2016 over Q1 June 2015.

Sun Pharmaceutical Industries is the worlds fifth largest specialty generic pharmaceutical company and Indias top pharmaceutical company.

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Board of LGB Forge accepts resignation of director
Oct 27,2016

The Board of Directors of LGB Forge at their meeting held on 22 October 2016 noted the resignation of Rajiv Parthasarathy as Director of the Company.

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E-Auction of the Second Batch of Private FM Radio Phase III Channels Commences
Oct 27,2016

E-Auction of the Second Batch of Private FM Radio Phase III Channels commenced today. During the day, four rounds of bidding took place. 266 FM Channels in 92 cities comprising 227 channels in 69 fresh cities and 39 unsold channels from 23 cities of batch I of Ph-III have been put on auction in the second batch. At the close of first day of bidding, 58 channels in 42 cities became Provisionally Winning Channels with cumulative provisional winning price of around Rs.182 Crore against their aggregate reserve price of about Rs.179.2 Crore.

The auction began today. Total 14 bidders were allowed to participate in the auction. The ongoing auction is a Simultaneous Multiple Round Ascending (SMRA) e-auction which is being conducted on line. States of Uttarakhand and Nagaland and Border Area Towns of Poonch Mokukchung, Leh, Kathua, Kargil, Bhaderwa to have Private FM Channels for the first time.

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Quick Heal Technologies to hold board meeting
Oct 27,2016

Quick Heal Technologies will hold a meeting of the Board of Directors of the Company on 11 November 2016 to consider and approve standalone unaudited financial results of the Company for the quarter and half year ended September 30, 2016.

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Kalpa Commercial to hold board meeting
Oct 27,2016

Kalpa Commercial will hold a meeting of the Board of Directors of the Company on 14 November 2016 To consider, Discuss and if thought fit to approve un-audited financial results for quarter ended on September 30, 2016.

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Vidli Restaurants to hold board meeting
Oct 27,2016

Vidli Restaurants will hold a meeting of the Board of Directors of the Company on 8 November 2016 to consider and approve the Unaudited Financial Results for the half year and period ended on September 30, 2016.

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Kuwer Industries to hold board meeting
Oct 27,2016

Kuwer Industries will hold a meeting of the Board of Directors of the Company on 10 November 2016 To consider, Discuss and if thought fit to approve un-audited financial results for quarter ended on September 30, 2016

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OnMobile Global to hold board meeting
Oct 27,2016

OnMobile Global will hold a meeting of the Board of Directors of the Company on 11 November 2016 to consider and approve the unaudited financial results of the Company for the quarter/half year ended September 30, 2016.

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Silverpoint Infratech to hold board meeting
Oct 27,2016

Silverpoint Infratech will hold a meeting of the Board of Directors of the Company on 1 November 2016 To consider and take on record the Unaudited Standalone and Consolidated Financial Result along with Limited Review Report issued by the Statutory Auditors of the Company for the Second Quarter and half year ended September 30, 2016.

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Zylog Systems to hold board meeting
Oct 27,2016

Zylog Systems will hold a meeting of the Board of Directors of the Company on 14 November 2016 To adopt and approve the Unaudited Standalone and consolidated Financial Statement for quarter & half yearly ended September 2016.

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Abhijit Trading Company to hold board meeting
Oct 27,2016

Abhijit Trading Company will hold a meeting of the Board of Directors of the Company on 9 November 2016 to consider and take on record the Unaudited Quarterly Financial Results as per Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 of the Company for the Quarter ended on September 30, 2016.

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Reliance Capital acquires voting rights in iMonitor Solutions India
Oct 27,2016

Reliance Capital has acquired more than 5% voting rights in iMonitor Solutions India. The company is engaged in home automation remote monitoring (Internet of Things).

Reliance Capital has committed to make an investment of upto an amount of Rs 2.90 crore. The investment comprises of 235990 Compulsorily Convertible Preference Shares (CCPS), both at a price of Rs 123.49 per share. Upon allotment of 235990 CCPS, the voting right of Reliance Capital in iMonitor Solutions India on fully diluted basis is 19.94%.

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Mardia Samyoung Capillary Tubes Co. to hold board meeting
Oct 27,2016

Mardia Samyoung Capillary Tubes Co. will hold a meeting of the Board of Directors of the Company on 8 November 2016 to consider and to take on record the unaudited financial results for the quarter ended September 30, 2016.

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Medi Caps to hold board meeting
Oct 27,2016

Medi Caps will hold a meeting of the Board of Directors of the Company on 11 November 2016 To consider & approve the Standalone Un-Audited Financial Results of the Company for the Quarter ended September 30, 2016.

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Shreenath Investment Company to hold board meeting
Oct 27,2016

Shreenath Investment Company will hold a meeting of the Board of Directors of the Company on 25 October 2016.

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