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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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Kennametal India jumps after strong Q2 earnings
Feb 03,2017

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

Meanwhile, the S&P BSE Sensex was down 12.93 points or 0.05% at 28,213.68.

On the BSE, 5,425 shares were traded on the counter so far as against the average daily volumes of 2,162 shares in the past one quarter. The stock had hit a high of Rs 617 and a low of Rs 600 so far during the day.

The stock had hit a 52-week high of Rs 775.25 on 5 May 2016 and a 52-week low of Rs 555 yesterday, 2 February 2017. The stock had underperformed the market over the past one month till 2 February 2017, sliding 2.4% compared with the Sensexs 6.13% rise. The scrip had, however, underperformed the market over the past one quarter, declining 10.02% as against the Sensexs 2.54% rise.

The small-cap company has equity capital of Rs 21.98 crore. Face value per share is Rs 10.

Kennametal India is a manufacturer of hard metal products and machine tools for the manufacturing industries, including auto and auto ancillaries, light and general engineering industries.

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Granules India intimates of successful completion of re-inspection of Gagillapur facility
Feb 03,2017

Granules India announced the successful completion of re-inspection of its Gagillapur facility in Telangana by INFRAMED, Portugal. The re-inspection of the said facility was conducted by INFRAMED from 31 January to 02 February 2017.

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Granules India intimates of successful completion of re-inspection of Gagillapur facility
Feb 03,2017

Granules India announced the successful completion of re-inspection of its Gagillapur facility in Telangana by INFRAMED, Portugal. The re-inspection of the said facility was conducted by INFRAMED from 31 January to 02 February 2017.

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Axis Bank gains after board approves allotment of senior notes
Feb 03,2017

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

Meanwhile, the BSE Sensex was down 7.50 points, or 0.07%, to 28,207.60.

On the BSE, 17,663 shares were traded in the counter so far, compared with average daily volume of 5.18 lakh shares in the past one quarter. The stock had hit a high of Rs 487.50 and a low of Rs 483 so far during the day.

Axis Bank announced that the board of directors of the bank has passed a resolution approving the allotment of 3 years senior floating rate notes aggregating to $10 million under the banks medium term note (MTN) Programme through its Dubai International Financial Centre (DIFC) branch.

Axis Banks net profit dropped 73.4% to Rs 579.57 crore on 15.7% growth in total income to Rs 14501.21 crore in Q3 December 2016 over Q3 December 2015.

Axis Bank is one of the biggest private sector banks in India.

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Bombay Burmah Trading Corporation redeems Commercial Paper aggregating Rs 50 crore
Feb 03,2017

Bombay Burmah Trading Corporation announced that Commercial paper issued by the Corporation on 04 November 2016 for Rs.50 crore with Maturity date of 02 February 2017 has been redeemed.

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Bombay Burmah Trading Corporation redeems Commercial Paper aggregating Rs 50 crore
Feb 03,2017

Bombay Burmah Trading Corporation announced that Commercial paper issued by the Corporation on 04 November 2016 for Rs.50 crore with Maturity date of 02 February 2017 has been redeemed.

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Board of Cravatex approves acquisition of Cravatex Brands and business transfer agreement
Feb 03,2017

Cravatex announced that the Board of Directors of the Company at its meeting held on 02 February 2017 transacted the following -

Approved acquisition of 100% equity stake (3000 equity shares) of Cravatex Brands by the Company, resulting in Cravatex Brands becoming a wholly owned subsidiary of the Company.

Approved the sale and transfer of Companys business of import, marketing and distribution and servicing of fitness equipment as well as through licensing arrangements with global brands the marketing, distribution and retail of footwear, apparel and sporting goods to Cravatex Brands for a lump sum consideration of Rs 32.68 crore. The said lump sum will be discharged by Cravatex Brands by issue and allotment to the Company 32.68 lakh equity shares of Cravatex Brands.

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Parag Milk Foods launches new product Avataar Absolute Whey Protein
Feb 03,2017

Parag Milk Foods has launched new product Absolute Whey Protein with the brand name Avataar on 01 February 2017. The product is available in Double Chocolate flavour in pack sizes of 2 LBS and 5 LBS.

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Shares of Raideep Industries get listed
Feb 03,2017

The equity shares of Raideep Industries (Scrip Code: 540270) are listed effective 03 February 2017 and admitted to dealings on the Exchange in the list of XT Group Securities.

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Axis Bank may gain on fund raising plans
Feb 03,2017

Axis Bank announced that the board of directors of the bank has passed a resolution approving the allotment of 3 years senior floating rate notes aggregating to $10 million under the banks MTN Programme through its Dubai International Financial Centre (DIFC) branch. The announcement was made after market hours yesterday, 2 February 2017.

ACC announces Q4 results today, 3 February 2017.

Glenmark Pharmaceuticals consolidated net profit rose 143.16% to Rs 477.03 crore on 43.2% increase in total income to Rs 2549.57 crore in Q3 December 2016 over Q3 December 2015. The result was announced after market hours yesterday, 2 February 2017.

Shares of Tata Power Company and Nelco will be in focus after Tata Power Company said that the company has completed the formalities for purchase of defence business of unattended ground sensors (UGS) of Nelco. The announcement was made after market hours yesterday, 2 February 2017. Tata Power Company had on 28 January 2015 entered into a binding understanding with Nelco to purchase its defence business of UGS.

Essel Propacks consolidated net profit fell 7.62% to Rs 37.95 crore on 16.98% increase in total income to Rs 607.50 crore in Q3 December 2016 over Q3 December 2015. The result was announced after market hours yesterday, 2 February 2017.

BSE will be in focus. Shares of BSE will be listed on the bourses today, 3 February 2017. The issue price of initial public offer (IPO) of BSE was set at Rs 806 per share. The IPO of BSE had received bids for 55.3 crore shares compared to 1.07 crore shares on offer, as per the NSE data. The IPO was subscribed 51.22 times. The issue opened for bidding on 23 January 2017 and closed on 25 January 2017. BSE owns and operates the BSE exchange platform (formerly the Bombay Stock Exchange), the first stock exchange in Asia, formed on 9 July 1875.

Tinplate Company of Indias net profit fell 80.64% to Rs 4.46 crore on 6.13%rise in gross total income from operations to Rs 222.44 crore in Q3 December 2016 over Q3 December 2015. The result was announced after market hours yesterday, 2 February 2017.

Stylam Industries announced that the company has proposed to sale of commercial space having covered area of 13,500 square meter facing Golf Course, IT Park, Panchkula. This has been decided by board of directors to focus on its core business of the company. The announcement was made after market hours yesterday, 2 February 2017.

Aegis Logistics consolidated net profit rose 25.53% to Rs 37.56 crore on 136% rise in net total income from operations to Rs 1248.05 crore in Q3 December 2016 over Q3 December 2015. The result was announced after market hours yesterday, 2 February 2017.

Transport Corporation of Indias net profit rose 44.7% to Rs 16.9 crore on 16.2% rise in total revenues to Rs 451.90 crore in Q3 December 2016 over Q3 December 2015. The result was announced after market hours yesterday, 2 February 2017.

Subros announced that it has won a major order from Indian Railways, Diesel Locomotive Works, Varanasi for which supplies are to be executed. The announcement was made after market hours yesterday, 2 February 2017.

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TVS Motor Company announces sales performance
Feb 02,2017

TVS Motor Company posted sales of 207,059 units in the month of January 2017 as against 208,485 units recorded in the month of January 2016.

Total two-wheelers registered sales of 202,209 units in January 2017 as against 201,233 units in January 2016. Domestic two-wheelers recorded sales of 172,101 units in January 2017 as against 172,162 units recorded in January 2016.

Scooters sales grew by 12 % from 62,552 units in the month of January 2016 to 70,049 units in the month of January 2017. Motorcycles recorded sales of 60,275 units in January 2017 as against 83,374 units registered in the month of January 2016.

Three-wheeler of the Company registered sales of 4,850 units in January 2017 as against 7,252 units in January 2016.

The Companys total exports registered sales of 34,110 units in the month of January 2017 as against 34,823 units recorded in the month of January 2016. Two-wheeler exports registered sales of 30,108 units in January 2017 as against 29,071 units in January 2016.

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Surya Roshni bags order worth Rs 80.30 crore
Feb 02,2017

Surya Roshni has obtained orders through competitive e-bidding for 2.86 lakh LED street lights amounting to Rs 80.30 crore under all India SLNP (Steet Lighting National Programme) for Pan India from Energy Efficiency Services.

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IDFC Bank announces appointment of nominee director
Feb 02,2017

IDFC Bank announced that Anindita Sinharay has been appointed as a Nominee Director, representing Government of India, on the Board of IDFC Bank (the Bank) w.e.f. 01 February 2017.

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Strides Shasun receives tentative approval for Fingolimod Capsules
Feb 02,2017

Strides Shasun announced that its subsidiary, Strides Shasun Global, Singapore has received tentative approval from the USFDA for its Para IV filing of Fingolimod Capsules, 0.5 mg. The can be launched on generic market formation expected in February 2019, with a potential 180 day exclusivity.

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Advance Metering Technology announces resignation of CFO
Feb 02,2017

Advance Metering Technology announced that Ravinder Singh has resigned from the post of Chief Financial Officer (CFO) of the Company w.e.f. 31 January 2017.

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