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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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Rane Engine Valve announces change in website
Mar 02,2017

Rane Engine Valve announced that the Company website has changed to www.ranegroup.com.

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Rane Holding announces new website
Mar 02,2017

Rane Holding announced change in website to new address - www.ranegroup.com

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Lupin advances after launching generic scalp solution in US
Mar 02,2017

The announcement was made after market hours yesterday, 1 March 2017.

Meanwhile, the S&P BSE Sensex was up 105.37 points or 0.36% at 29,104.30.

On the BSE, 11,390 shares were traded on the counter so far as against the average daily volumes of 71,234 shares in the past one quarter. The stock had hit a high of Rs 1,481.95 and a low of Rs 1,472.60 so far during the day.

The stock had hit a 52-week high of Rs 1,874.30 on 14 March 2016 and a 52-week low of Rs 1,294.05 on 29 March 2016. It had underperformed the market over the past one month till 1 March 2017, sliding 0.18% compared with the Sensexs 3% rise. The scrip had also underperformed the market over the past one quarter, declining 2.89% as against the Sensexs 9.13% rise.

The large-cap company has equity capital of Rs 90.31 crore. Face value per share is Rs 2.

Lupin announced that it has launched its Clobetasol Propionate Topical Solution USP, 0.05% having received an approval from the United States Food and Drug Administration (FDA) earlier to market a generic version of Fougera Pharmaceuticals Temovate (clobetasol propionate) Scalp Application, 0.05% in the US.

Lupins Clobetasol Propionate Topical Solution USP, 0.05% is an AT rated generic equivalent of Fougera Pharmaceuticals Temovate (clobetasol propionate) Scalp Application, 0.05%. It is indicated for short-term topical treatment of inflammatory and pruritic manifestations of moderate to severe corticosteroid-responsive dermatoses of the scalp.

Temovate Clobetasol Propionate Scalp Application had annual US sales of $64.1 million as per IMS MAT December 2016.

Lupins consolidated net profit rose 20.7% to Rs 633.11 crore on 31.5% increase in net sales to Rs 4404.94 crore in Q3 December 2016 over Q3 December 2015.

Lupin is an innovation led transnational pharmaceutical company developing and delivering a wide range of branded & generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) globally. The company is a significant player in the cardiovascular, diabetology, asthma, pediatric, CNS, GI, anti-infective and NSAID space and holds global leadership position in the anti-TB segment.

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Eicher Motors edges higher after decent sales growth in February
Mar 02,2017

The announcement was made after market hours yesterday, 1 March 2017.

Meanwhile, the S&P BSE Sensex was up 95.99 points or 0.33% at 29,080.48.

On the BSE, 358 shares were traded on the counter so far as against the average daily volumes of 5,558 shares in the past one quarter. The stock had hit a high of Rs 24,019.95 and a low of Rs 23,800 so far during the day.

The stock had hit a record high of Rs 26,601.95 on 29 September 2016 and a 52-week low of Rs 17,906.80 on 18 March 2016. It had underperformed the market over the past one month till 1 March 2017, sliding 1.23% compared with the Sensexs 3% rise. The scrip had also underperformed the market over the past one quarter, advancing 6.91% as against the Sensexs 9.13% rise.

The large-cap company has equity capital of Rs 27.21 crore. Face value per share is Rs 10.

VE Commercial Vehicles is an unlisted subsidiary of Eicher Motors.

Eicher Motors during market hours yesterday, 1 March 2017, said its total motorcycles sales rose 19% to 58,439 units in February 2017 over February 2016. Exports grew by 7% to 1,702 units in February 2017 over February 2016.

Shares of Eicher Motors had fallen 6.03% in the preceding five trading sessions to settle at Rs 23,712 yesterday, 1 March 2017, from its closing price of Rs 25,234.45 on 21 February 2017, inline with a broader weakness in the S&P BSE Auto index.

On a consolidated basis, Eicher Motors net profit surged 50.03% to Rs 418.19 crore on 42.8% growth in net sales to Rs 1828.29 crore in Q3 December 2016 over Q3 December 2015.

Eicher Motors (EML) owns the iconic Royal Enfield motorcycle business, which leads the premium motorcycle segment in India. EMLs joint venture with the Volvo group, VE Commercial Vehicles (VECV) designs, manufactures and markets reliable, fuel-efficient trucks and buses.

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Glenmark Pharmaceuticals and Evestra announces strategic partnership
Mar 02,2017

Glenmark Pharmaceuticals Inc., USA, and Evestra, Inc. have completed a strategic development, license and commercialization agreement to develop and market a generic version of Mercks & Co.s NuvaRingn++ product - etonogestrel/ethinyl estradiol vaginal ring - designed to allow women access to a more affordable birth control option.

Development on the vaginal ring product is currently under way and the two companies expect to file an Abbreviated New Drug Application (ANDA) in fiscal 2019.

Evestra will develop this product exclusively for Glenmark for the U.S. market, and will receive certain milestone payments during various stages of the products development, including royalties on netsales.

Glenmark has secured exclusive marketing and distribution rights for the product, including an option to commercialize two additional Evestra vaginal ring products, for the U.S. market.

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Rane (Madras) announces new website
Mar 02,2017

Rane (Madras) has announced change in website address to www.ranegroup.com

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Tata Motors gains after reporting small rise in sales in February
Mar 02,2017

The announcement was made after market hours yesterday, 1 March 2017.

Meanwhile, the BSE Sensex was up 116.12 points, or 0.4%, to 29,100.61.

On the BSE, 69,962 shares were traded in the counter so far, compared with average daily volumes of 5.62 lakh shares in the past one quarter. The stock had hit a high of Rs 458.80 and a low of Rs 453.30 so far during the day.

Tata Motors domestic sales of Tata commercial and passenger vehicles rose 3% at 42,679 units in February 2017 over February 2016.

Tata Motors passenger vehicles, in the domestic market, recorded 12% rise in sales at 12,272 units in February 2017 over February 2016, due to continued strong demand for the Tata Tiago. The company has also received an encouraging response to its recently launched lifestyle utility vehicle (UV), Tata Hexa.

The overall commercial vehicles sales in February 2017, in the domestic market fell 1% at 30,407 units in February 2017 over February 2016. The medium & heavy commercial vehicles (MHCV) cargo segment demand has picked up due to pre-buying on account of expected price increase led by BSIV implementation from 1st April 2017.

Overall sales of Tata Motors M&HCV rose 1% at 15,031 units in February 2017 over February 2016. TML Bus sales continued to grow by 30% in February 2017, driven particularly by STU orders, supported by Intercity and Staff Application segments. Demand from schools is also gaining momentum.

Improved consumer sentiments, waning effect of demonetization and aggressive push by the market players has led to recovery of small & light commercial vehicles (S&LCV) segment volumes, this month. Sales of Tata Motors S&LCV were at 15,376 units, in February 2016.

The companys sales from exports fell 5% at 4,894 units in February 2017 over February 2016, owing to lower passenger vehicles shipment.

Tata Motors is a market leader in commercial vehicles in India. The companys British luxury unit Jaguar Land Rover (JLR) sells premium luxury cars.

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Bajaj Auto announces sales figures
Mar 02,2017

Bajaj Auto reported total sales of 273,513 units in February 2017 compared to 272,719 units in February 2016. Total sales include domestic sales at 159,109 units, recording a drop of 8% over February 2016. Exports rose 16% to 114,404 units in February 2017 over February 2016.

For the period April - February 2017, total sales stood lower by 5% at 3,393,753 units compared to corresponding period of previous year.

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Wipro completes sale of its EcoEnergy division
Mar 02,2017

Wipro has completed the sale of its EcoEnergy division on 01 March 2017. The impact of sale of EcoEnergy division is expected to reflect in the financials of Wipro for the quarter and year ending 31 March 2017.

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A Government Panel recommends legal framework for protection of interests of migrants in the country
Mar 02,2017

A Government appointed Panel has recommended necessary legal and policy framework to protect the interests of the migrants in the country, stating that the migrant populationmakes substantial contribution to economic growth and their Constitutional rights need to be secured.

The Working Group on Migration set by the Ministry of Housing & Urban Poverty Alleviationin 2015 who submitted their Report to the Government today held extensive discussions with Minister of HUPA Shri M.Venkaiah Naidu.

The Working Group has recommended that the Protocols of the Registrar General of India needs to be amended to enable caste based enumeration of migrants so that they can avail the attendant benefits in the States to which migration takes place. It also recommended that migrants should be enabled to avail benefits of Public Distribution System (PDS) in the destination State by providing for inter-State operability of PDS.

Referring to Constitutional Right of Freedom of Movement and residence in any part of the territory of the country, the Group suggested that States should be encouraged to proactively eliminate the requirement of domicile status to prevent any discrimination in work and employment. States are also to be asked to include migrant children in the Annual Work Plans under Sarva Siksha Abhiyan (SSA) to uphold their Right to Education.

Noting that money remittances of migrants was of the order of Rs.50,000 cr during 2007-08, the Working Group suggested that the vast network of post offices need to be made effective use of by reducing the cost of transfer of money to avoid informal remittences. It also suggested that migrants should be enabled to open bank accounts by asking banks to adhere to RBI guidelines regarding Know Your Customer (KYC) norms and not insist on documents that were not required.

The Group suggested that the hugely underutilized Construction Workers Welfare Cess Fund should be used to promote rental housing, working Women Hostels etc., for the benefit of migrants.

Quoting data of Census 2011 and National Sample Survey Organisation (NSSO), the Group stated that migrants constitute about 30% of the countrys population and also of the total working force.

The recent Economic Survey noted that annual migration in the country increased from 3.30 million in 2011 to 9.00 million in 2016.

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Tata Motors may drop on small rise in sales in February
Mar 02,2017

Tata Motors total sales rose 2% to 47,573 vehicles in February 2017 over February 2016. The companys domestic sales of Tata commercial and passenger vehicles rose 3% at 42,679 units in February 2017 over February 2016. The announcement was made after market hours yesterday, 1 March 2017.

Tata Motors passenger vehicles, in the domestic market, recorded 12% rise in sales at 12,272 units in February 2017 over February 2016, due to continued strong demand for the Tata Tiago. The company has also received an encouraging response to its recently launched lifestyle UV, Tata Hexa.

The overall commercial vehicles sales in February 2017, in the domestic market were at 30,407 nos. lower by 1% over February 2016. The MHCV cargo segment demand has picked up due to pre-buying on account of expected price increase led by BSIV implementation from 1st April. Overall sales of Tata Motors M&HCV were at 15,031 nos. in February 2017, a growth of 1%, over February 2016. TML Bus sales continued to grow by 30% in February 2017, driven particularly by STU orders, supported by Intercity and Staff Application segments. Demand from schools is also gaining momentum.

Improved consumer sentiments, waning effect of demonetization and aggressive push by the market players has led to recovery of S&LCV segment volumes, this month. Sales of Tata Motors Small & Light Commercial Vehicles were at 15,376 nos., in February 2016.

The companys sales from exports was at 4,894 nos. in February 2017, a decline of 5% (owing to lower PV shipment) compared to 5,142 vehicles sold in February 2016.

Eicher Motors said that sale volume of VE Commercial Vehicles Limited, an unlisted subsidiary of Eicher Motors rose 9.28% to 5,499 units in February 2017 over February 2016. The announcement was made after market hours yesterday, 1 March 2017.

In a signal of the steadily improving market situation, Hero MotoCorp, the worlds largest two wheeler manufacturer, reported 4.75% drop in sales of 524,766 units of two-wheelers in the month of February 2017 over February 2016.

Majority of Hero two-wheelers had already been made BS IV compliant quite sometime back and the company has fully transitioned to producing only BS IV vehicles across the range from 1 March 2017.

Following the demonetisation initiative of the government in November, Hero immediately installed and activated POS machines at its retail outlets and also rolled out several other effective initiatives to enable cashless transactions, including innovative and consumer friendly financing schemes. With improvement in the currency situation and in the consumer sentiment, Heros volumes are gradually picking up. The announcement was made after market hours yesterday, 1 March 2017.

Pharma Major Lupin announced that it has launched its Clobetasol Propionate Topical Solution USP, 0.05% having received an approval from the United States Food and Drug Administration (FDA) earlier to market a generic version of Fougera Pharmaceuticals Temovate (clobetasol propionate) Scalp Application, 0.05%.

Lupins Clobetasol Propionate Topical Solution USP, 0.05% is an AT rated generic equivalent of Fougera Pharmaceuticals Temovate (clobetasol propionate) Scalp Application, 0.05%. It is indicated for short-term topical treatment of inflammatory and pruritic manifestations of moderate to severe corticosteroid-responsive dermatoses of the scalp.

Temovate Clobetasol Propionate Scalp Application had US sales of $64.1 million as per IMS MAT December 2016.The announcement was made after market hours yesterday, 1 March 2017.

Coal India said that production of the company and its subsidiary companies was 96% of targeted production at 54.30 million tonnes in February 2017. Offtake was 94% of target at 47.73 million tonnes in February 2017. The announcement was made after market hours yesterday, 1 March 2017.

Wipro announced that it has completed the sale of its EcoEnergy division on 1 March 2017. The impact of sale of EcoEnergy division is expected to reflect in the financials of Wipro for the quarter and year ending 31 March 2017. The announcement was made before market hours today, 2 March 2017.

Bank of India announced that it is in the process of raising Basel-III compliant additional tier-1, perpetual bonds-Series 4, for an amount of Rs 500 crore with a green shoe option of Rs 500 crore, aggregating Rs 1000 crore by private placement. The details of the issue shall be informed in due course. The announcement was made after market hours yesterday, 1 March 2017.

TVS Motor Companys sales fell 3.64% to 211,470 units in the month of February 2017 over February 2016. As part of our plans to gear up for the BSIV norms, the company has completely transitioned to the production of BSIV vehicles. The announcement was made after market hours yesterday, 1 March 2017.

Total two-wheelers registered sales of 206,247 units in February 2017 as against 211,148 units in February 2016. Domestic two-wheelers recorded sales of 172,611 units in February 2017 as against 183,199 units recorded in February 2016.

Scooters sales grew by 2.9% from 67,089 units in the month of February 2016 to 69,020 units in the month of February 2017. Motorcycles recorded sales of 58,994 units in February 2017 as against 77,093 units registered in the month of February 2016. Three-wheeler of the Company registered sales of 5,223 units in February 2017 as against 8,319 units inFebruary 2016.

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Millitoons Entertainment revises record date for bonus issue
Mar 01,2017

Millitoons Entertainment has revised the record date for bonus issue to 14 March 2017.

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Bharat Petroleum Corporation announces change in company secretary
Mar 01,2017

Bharat Petroleum Corporation announced that M. Venugopal has taken over as Company Secretary of the Company with effect from 01 March 2017, in place of S. V. Kulkami, who superannuated from the services of the Company on 28 February 2017. M Venugopal will also act as Compliance Officer of the Company.

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Bharat Petroleum Corporation announces change in company secretary
Mar 01,2017

Bharat Petroleum Corporation announced that M. Venugopal has taken over as Company Secretary of the Company with effect from 01 March 2017, in place of S. V. Kulkami, who superannuated from the services of the Company on 28 February 2017. M Venugopal will also act as Compliance Officer of the Company.

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National Aluminium Company announces cessation of director
Mar 01,2017

National Aluminium Company announced that Soma Monda, Director (Commercial) has ceased to be Director on the Board of the Company with effect from 01 March 2017 consequent upon her appointment of Director (Commercial) SAIL.

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