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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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Interactive Financial Services announces change in registered office
Nov 30,2016

Interactive Financial Services announced that the registered office of the Company has been changed to A-1006, Premium house, B/h Handloom house, Ashram Road, Ahmedabad - 380009.

Tel No: 91-79-26582851
Fax No: 91-79-26582328

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Board of Centum Electronics approves proposal for further investment in Adetel Group SA
Nov 30,2016

Centum Electronics announced that the Board of Directors of the Company at its meeting held on 29 November 2016 approved the proposal for further investment in Adetel Group SA. With the proposed investment, Centum Electronics stake in Adetel Group will increase from 51% to 54%. Further, the above investment will be done through the wholly owned subsidiary company, Centum Electronics UK.

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Eros International advances on fund raising plans
Nov 30,2016

The announcement was made after market hours yesterday, 29 November 2016.

Meanwhile, the BSE Sensex was up 115.17 points, or 0.44%, to 26,509.66.

On the BSE, 7,267 shares were traded so far in the counter, compared with average daily volume of 43,372 shares in the past one quarter. The stock had hit a high of Rs 174.90 and a low of Rs 170.10 so far during the day. The stock had hit a 52-week high of Rs 274 on 4 December 2015. The stock had hit a 52-week low of Rs 125.90 on 29 February 2016. The stock had underperformed the market over the past one month till 29 November 2016, falling 12.25% compared with 5.54% fall in the Sensex. The scrip had also underperformed the market in past one quarter, falling 21.39% as against Sensexs 5.41% decline.

The small-cap company has equity capital of Rs 93.71 crore. Face value per share is Rs 10.

Eros International Media said that the meeting of board of directors of the company will be held on 2 December 2016, to consider and approve the proposal to raise funds through issue and offer of secured/unsecured, redeemable, non convertible debentures on public/private placement basis, in one or more tranches, upto the limit as may be decided by the board.

On a consolidated basis, net profit of Eros International Media fell 32.9% to Rs 62.99 crore on 5.2% decline in net sales to Rs 478.79 crore in Q2 September 2016 over Q2 September 2015.

Eros International Media operates in the Indian film entertainment industry. It acquires, co-produces and distributes Indian films across all available formats such as cinema, television and digital new media.

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Lupin gets final approval for Generic Nuvigiln++ Tablets
Nov 30,2016

Lupin announced that its subsidiary, Lupin Pharmaceuticals Inc. has received final approval for its Armodafinil Tablets 50 mg, 150 mg, 200 mg and 250 mg from the United States Food and Drug Administration to market a generic version of Cephalon Incs Nuvigil Tablets mg, 150 mg, 200 mg and 250 mg. Lupin Pharmaceutical shall commence promoting the product in the US shortly.

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HCC nudges higher on mulling preferential share allotment
Nov 30,2016

The announcement was made after market hours yesterday, 29 November 2016.

Meanwhile, the S&P BSE Sensex was up 131.10 points or 0.5% at 26,525.11.

On the BSE, 3.95 lakh shares were traded on the counter so far as against the average daily volumes of 28.59 lakh shares in the past one quarter. The stock had hit a high of Rs 34.70 and a low of Rs 34.25 so far during the day. The stock had hit a 52-week high of Rs 41.90 on 14 September 2016. The stock had hit a 52-week low of Rs 16.60 on 12 February 2016. The stock had underperformed the market over the past one month till 29 November 2016, declining 7.02% compared with the Sensexs 5.54% fall. The scrip had, however, outperformed the market in past one quarter, surging 46.96% as against the Sensexs 5.41% fall.

The small-cap company has equity capital of Rs 77.92 crore. Face value per share is Rs 1.

Hindustan Construction Companys (HCC) board at its proposed board meeting on 2 December 2016, would consider issue of equity shares representing 24.44% of the expanded capital and also optionally convertible debentures (OCDs) on preferential basis, to be allotted collectively to the individual lenders. In this context, the company plans to convene an extraordinary general meeting (EGM) for seeking shareholders approval.

HCCs net profit fell 42.8% to Rs 23.08 crore on 8.2% decline in net sales to Rs 759.03 crore in Q2 September 2016 over Q2 September 2015.

HCC is into infrastructure development in transportation, power and water segments.

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Gillette India appoints company secretary and compliance officer
Nov 30,2016

Gillette India announced that Flavia Machado has been appointed as Company Secretary & Compliance Officer of the Company effective 30 November 2016.

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Board of India Home Loans to consider preferential issue of shares
Nov 30,2016

India Home Loans announced that a Board meeting has been scheduled on 2 December 2016 to consider the preferential issue and allotment of 29,11,755 equity shares of the Company to following investors - JM Financial Products, Chetan R Shah (HUF), Shailaja C Shah and Sonal M Shah.

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Board of Ovobel Foods appoints company secretary
Nov 30,2016

Ovobel Foods announced that the Board of Directors of the Company at its meeting held on 29 November 2016 has approved the appointment of Ritu Singh as Company Secretary and Compliance Officer with effect from 29 November 2016.

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GIC Estimates Size Of Non-Life Insurance Growing Five Times By 2026, Says Its Secretary General
Nov 30,2016

Secretary General, General Insurance Council, Mr. R Chandrasekaran forecast the size of non-life and liability insurance would grow five times by next decade as non-life and liability insurance is gradually growing a risk mitigation exercise in India.

Inaugurating a Seminar on Financial Risks & Liability Insurance : Current Scenario and Way forward organized by the PHD Chamber of Commerce and Industry, Mr. Chandrasekaran emphasized that with proper policy, ongoing innovations and regulations in place, the non-life and liability insurance which is currently estimated at a size of 3%, however, will stay put at this number for another 4-5 years and subsequently frogleap.

According to him, a great deal of public exercise and campaigning is called for to arise public awakening for larger participation of stakeholders in this non-life segment to enable it realize its latent potential.

Supportive regulations and policies are also needed for the growth of non-life insurance which would come about as this is what has happened for life insurance to pick up in India in the past, indicated Mr. Chandrasekaran and also urged the PHD Chamber to carry such conferences across other Tier-1 and Tier-2 cities of India.

In his opening remarks, Vice President, PHD Chamber, Mr. Anil Khaitan also hoped that with changing India, its liability and non-life insurance will also grow faster than anticipated as the Chamber is confident of its estimated growth and diversification.

Speaking on the occasion, Chairman, Insurance Committee of the Chamber, Mr. Yogesh Lohiya also exuded confidence saying that with skilling, digital and Make in India picking required pace, the non-life insurance sector is poised for higher growth. What is required is a massive campaign to promote this branch of insurance.

Managing Director, Nilam Sharma, Ms. Nilam Sharma in her presentation detailed out her perception on Directors and Officers relating to non-life insurance and their role to diversify and expand this sector.

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Sarda Energy & Minerals spurts after restarting mining operations
Nov 30,2016

The announcement was made after trading hours yesterday, 30 November 2016.

Meanwhile, the BSE Sensex was up 92.11 points, or 0.35%, to 26,486.12.

On BSE, so far 59,000 shares were traded in the counter, compared with average daily volume of 86,198 shares in the past one quarter. The stock hit a high of Rs 256.65 and a low of Rs 235.50 so far during the day. The stock hit a 52-week high of Rs 296.60 on 1 November 2016. The stock hit a 52-week low of Rs 75.50 on 26 February 2016. The stock had underperformed the market over the past 30 days till 29 November 2016, falling 15.83% compared with the 5.50% decline in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 33.55% as against Sensexs 7.23% decline.

The small-cap company has equity capital of Rs 36.02 crore. Face value per share is Rs 10.

On 9 March 2016, Sarda Energy & Minerals announced temporary suspension of operation at its iron ore mine in Dongarbore (Chhattisgarh) after a naxalite attack on 7 March 2016, which caused death of one employee and damage of a few vehicles.

Net profit of Sarda Energy & Minerals rose 250.3% to Rs 12.54 crore on 2.7% decline in net sales to Rs 253 crore in Q2 September 2016 over Q2 September 2015.

Sarda Energy & Minerals (SEML) is one of the lowest cost producers of steel (sponge iron, billets, ingots, TMT bars) and one of the largest manufacturers and exporters of ferro alloys in India.

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Vivimed Labs spurts after unit successfully completes USFDA inspection
Nov 30,2016

The announcement was made after market hours yesterday, 29 November 2016.

Meanwhile, the S&P BSE Sensex was up 78.36 points or 0.3% at 26,472.37.

On the BSE, 3.78 lakh shares were traded on the counter so far as against the average daily volumes of 2.89 lakh shares in the past one quarter. The stock had hit a high of Rs 107.40 and a low of Rs 102 so far during the day. The stock had hit a record high of Rs 121.15 on 4 October 2016. The stock had hit a 52-week low of Rs 68 on 9 August 2016. The stock had underperformed the market over the past one month till 29 November 2016, declining 13.97% compared with the Sensexs 5.54% fall. The scrip had, however, outperformed the market in past one quarter, advancing 24.63% as against the Sensexs 5.41% fall.

The large-cap company has equity capital of Rs 16.20 crore. Face value per share is Rs 2.

The audit was conducted during the last week of November and concluded on 28 November 2016. Furthermore, Vivimed obtained abbreviated new drug application (ANDA) approval for Metronidazole and same is commercialised. During November 2016, the company acquired ANDA of Zolpidem and the file transfer has successfully been completed. It is expected to be commercialised by Q4 March 2017.

Vivimed is on track of its filing targets and has successfully completed 3 ANDA filings during the current financial year and expect one more filing to be completed by Q4 March 2017. These products provide vertical integration with the in-house active pharmaceutical ingredients (APIs).

Santosh Varalwar, Managing Director of Vivimed Labs, said the company is on track with its filings pipeline which are expected to bear fruits when these products start to commercialise over the next 18-24 months.

On a consolidated basis, Vivimed Labs net profit rose 12.4% to Rs 26.85 crore on 11.5% decline in net sales to Rs 298.36 crore in Q2 September 2016 over Q2 September 2015.

Vivimed Labs is a niche specialty chemicals and pharmaceuticals company.

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Lupin gains after receiving USFDA approval for Armodafinil tablets
Nov 30,2016

The announcement was made after market hours yesterday, 29 November 2016.

Meanwhile, the BSE Sensex was up 67.23 points, or 0.25%, to 26,461.24.

On BSE, so far 25,000 shares were traded in the counter, compared with average daily volume of 99,927 shares in the past one quarter. The stock hit a high of Rs 1,545.55 and a low of Rs 1,526.90 so far during the day. The stock hit a 52-week high of Rs 1,911.55 on 9 February 2016. The stock hit a 52-week low of Rs 1,294.05 on 29 March 2016. The stock had outperformed the market over the past 30 days till 29 November 2016, falling 0.06% compared with the 5.50% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 2.25% as against Sensexs 7.23% decline.

The large-cap company has equity capital of Rs 90.27 crore. Face value per share is Rs 2.

Lupin announced that its US subsidiary Lupin Pharmaceuticals Inc (LPI) has received final approval from the United States Food and Drug Administration (USFDA) to market Armodafinil tablets 50mg, 150mg, 200mg and 250mg. LPI shall commence promoting the product in the US shortly. Lupins Armodafinil tablets are the AB rated generic equivalents of Cephalon, Incs Nuvigil tablets. Armodafinil tablets are indicated to improve wakefulness in adult patients with excessive sleepiness associated with obstructive sleep apnea (OSA), narcolepsy or shift work disorder (SWD). Nuvigil tablets had annual US sales of $515.6 million as per IMS MAT September 2016 data.

Lupins consolidated net profit jumped 57.8% to Rs 662.19 crore on 31.9% rise in net sales to Rs 4211.18 crore in Q2 September 2016 over Q2 September 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, central nervous system (CNS), GI, Anti-Infective and NSAID space and holds global leadership position in the Anti-TB segment.

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Tamil Nadu Newsprint & Papers standalone net profit rises 18.56% in the September 2016 quarter
Nov 30,2016

Net profit of Tamil Nadu Newsprint & Papers rose 18.56% to Rs 70.58 crore in the quarter ended September 2016 as against Rs 59.53 crore during the previous quarter ended September 2015. Sales rose 22.48% to Rs 667.05 crore in the quarter ended September 2016 as against Rs 544.63 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales667.05544.63 22 OPM %26.4525.34 - PBDT132.38110.90 19 PBT79.5176.42 4 NP70.5859.53 19

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Wanbury reports standalone net profit of Rs 7.07 crore in the September 2016 quarter
Nov 30,2016

Net profit of Wanbury reported to Rs 7.07 crore in the quarter ended September 2016 as against net loss of Rs 2.44 crore during the previous quarter ended September 2015. Sales rose 14.43% to Rs 120.86 crore in the quarter ended September 2016 as against Rs 105.62 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales120.86105.62 14 OPM %10.018.91 - PBDT9.45-0.21 LP PBT7.07-2.44 LP NP7.07-2.44 LP

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Government takes various steps to check prices of pulses
Nov 30,2016

In the Report of the Working Group on Foodgrains-Balancing Demand and Supply for the 12th Five Year Plan, the estimated demand of pulses in the year 2014-15, 2015-16 and 2016-17 are 22.68 MMT, 23.62 MMT and 24.61 MMT respectively. steps taken by the Government to reduce the prices of pulses are given below.

n++ Export of all pulses is banned except kabuli channa and up to 10,000 MTs in organic pulses and lentils.

n++ Import of pulses are allowed at zero import duty.

n++ Stock limit on pulses extended till 30.9.2017.

n++ MSP raised for kharif pulses of 2016-17 for Tur, Urad and Moong as well as for Rabi pulses of Gram and Masoor for season 2016-17.

n++ Government has approved creation of buffer stock of pulses for effective market intervention. Buffer of around 6.18 lakh MT of pulses has already been procured out of the target of 20 lakh tonnes.

n++ Government has released around 38,974 MT of pulses from the buffer stock (consisting of Tur and Urad) to States/UTs at subsidized rates for retailing by them at not more than Rs 120/- per kg to improve availability and stabilize prices. In addition, 6884 MT of Chana has been allocated to states at subsidized rate for retailing.

n++ Securities & Exchange Board of India (SEBI) has banned new contracts in Chana to dampen speculative activities in Chana and in respect of running contracts in Chana disallowed taking fresh positions to reduce speculative activities.

n++ Strict vigilance by Directorate of Revenue Intelligence to prevent importers from mis-using the facilities of Customs Bonded Warehouse facility.

n++ Setting up of a Group of Officers for regular monitoring and exchange of information on hoarding, cartelization etc.

n++ About 1.40 lakh tonnes pf pulses seized from 14612 raids and disposed of 1.28 lakh tonnes either by auction or other means permitted under EC Act, 1955.

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