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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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Tata Chemicals to hold EGM
Nov 28,2016

Tata Chemicals announced that the EGM of the Company will be held on 23 December 2016 to transact the following business -

Removal of C P Mistry as Director
Removal of Nusli N Wadia as Director
Appointment of Bhaskar Bhat as a Director of the Company
Appointment of S Padmanabhan as a Director of the Company.

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Board of Amtek Auto to consider proposal for infusion of fresh equity
Nov 28,2016

Amtek Auto announced that a meeting of the Board of Directors of the Company will be held on 30 November 2016, to consider the proposal of infusion of fresh equity by the new investors and restructuring of the Company as proposed by investors.

Simultaneously, a joint meeting of Board of Directors of Amtek Auto , Metalyst Forgings, Castex Technologies and ARGL is also being convened to discuss the outcome of the individual Board Meeting and deliberate on the infusion of fresh equity by the new investors and restructuring as proposed by investors.

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Strides Shasun gains after acquisition
Nov 28,2016

The announcement was made after market hours on Friday, 25 November 2016.

Meanwhile, the BSE Sensex was down 67.76 points, or 0.26%, to 26,248.58.

On BSE, so far 9,778 shares were traded in the counter, compared with average daily volume of 67,539 shares in the past one quarter. The stock hit a high of Rs 1,100 and a low of Rs 1,077 so far during the day. The stock hit a 52-week high of Rs 1,400 on 10 December 2015. The stock hit a 52-week low of Rs 848 on 29 February 2016. The stock had outperformed the market over the past 30 days till 25 November 2016, rising 14.98% compared with the 5.73% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 13.44% as against Sensexs 5.28% decline.

The mid-cap company has equity capital of Rs 89.37 crore. Face value per share is Rs 10.

Strides Shasun announced that its wholly-owned subsidiary Strides Arcolab International, UK has entered into an agreement with Moberg Pharma, Sweden to acquire the PediaCare brand for a total consideration of $5 million plus inventory value at closing.

PediaCare is an established paediatric cough, cold and allergy brand with annual sales of approximately $6 million. PediaCare will form an important part of Strides expanding consumer health care portfolio and brings with it expertise in the paediatric segment as well as a strong brand name with global potential.

Strides Shasuns consolidated net profit rose 106.90% to Rs 74.09 crore on 36.26% rise in net sales to Rs 922.17 crore in Q2 September 2016 over Q2 September 2015.

Strides Shasun is a vertically integrated global pharmaceutical company headquartered inBangalore.

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Board of Castex Technologies to consider proposal for infusion of fresh equity
Nov 28,2016

Castex Technologies announced that a meeting of the Board of Directors of the Company is scheduled to be held on 30 November 2016, to consider the proposal of infusion of fresh equity by the new investors and restructuring of the company as proposed by investors.

Simultaneously, a joint meeting of Board of Directors of Amtek Auto , Metalyst Forgings, Castex Technologies and ARGL is also being convened to discuss the outcome of the individual Board Meeting and deliberate on the infusion of fresh equity by the new investors and restructuring as proposed by investors.

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Bharti Airtel heads north after completing a stake acquisition in Airtel Nigeria
Nov 28,2016

The announcement was made on Saturday, 26 November 2016.

Meanwhile, the S&P BSE Sensex was down 28.16 points or 0.11% at 26,288.18.

On BSE, so far 25,000 shares were traded in the counter as against average daily volume of 3.15 lakh shares in the past one quarter. The stock hit a high of Rs 307.80 and a low of Rs 301 so far during the day. The stock had hit a 52-week high of Rs 384.90 on 28 April 2016. The stock had hit a 52-week low of Rs 282.30 on 29 January 2016. The stock had outperformed the market over the past one month till 25 November 2016, declining 3.28% compared with the Sensexs 6.32% fall. The scrip had, however, underperformed the market in past one quarter, sliding 13.09% as against the Sensexs 5.46% fall.

The large-cap company has equity capital of Rs 1998.70 crore. Face value per share is Rs 5.

Bharti Airtel announced that Bharti Airtel International (Netherlands) BV through its wholly owned subsidiary (Airtel), has completed the acquisition of Econet Wireless entire 4.2% shareholding in Airtel Nigeria. As a result, Airtels overall holding in Airtel Nigeria has increased to 83.25%.

On consolidated basis, Bharti Airtels net profit declined 4.9% to Rs 1460.70 crore on 3.4% growth in net sales to Rs 24651.50 crore in Q2 September 2016 over Q2 September 2015.

Bharti Airtel is a leading global telecommunications company with operations in 18 countries across Asia and Africa.

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Board of Metalyst Forgings to consider proposal for infusion of fresh equity
Nov 28,2016

Metalyst Forgings announced that a meeting of the Board of Directors of the Company will be held on 30 November 2016, to consider the proposal of infusion of fresh equity by the new investors and restructuring of the Company as proposed by investors.

Simultaneously, a joint meeting of Board of Directors of Amtek Auto, Metalyst Forgings, Castex Technologies and ARGL is also being convened to discuss the outcome of the individual Board Meeting and deliberate on the infusion of fresh equity by the new investors and restructuring as proposed by investors.

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Astral Poly Technik allots equity shares
Nov 28,2016

Astral Poly Technik has allotted 16,282 equity shares of Re.1/- each pursuant to exercise of options under Astral Poly Technik Limited Employee Stock Option Scheme 2015 on 26 November 2016.

These shares shall rank pari passu, in all respects with the existing equity shares of the Company. After allotment of aforesaid equity shares, the share capital of the Company stands increased from Rs. 11,97,50,283/- to Rs. 11,97,66,565/-.

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ARSS Infrastructure Projects secures Railways work order worth Rs 51.44 crore
Nov 28,2016

ARSS Infrastructure Projects announced that a work order amounting to Rs. 51.44 crore namely Construction of Major Bridges (07 Nos.) and Earthwork in approaches, including protection and other ancillary works in Bina-Lalitpur Section (62.66Km) in connection with Bina-Jhansi 3rd Line Project (Zone-A) has been awarded in favour of one of the Companys Joint Venture (JV) named ARSS-SIPS (JV) by North Central Railway, Office of the Dy. Chief Engineer (Const.), Jhansi on 21 November 2016 copy of which was received by the Company on 25 November 2016.

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Trident receives award for Outstanding Contribution to Social Welfare 2016
Nov 28,2016

Trident has been awarded with the prestigious Award for Outstanding Contribution to Social Welfare for the year 2016 by PHD Chamber at PHD Annual Award for Excellence 2016.

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Hathway Cable & Datacom tumbles after poor Q2 performance
Nov 28,2016

The result was announced after market hours on Friday, 25 November 2016.

Meanwhile, the BSE Sensex was down 64.25 points, or 0.24%, to 26,252.09.

On BSE, so far 26,000 shares were traded in the counter, compared with average daily volume of 69,878 shares in the past one quarter. The stock hit a high of Rs 33.50 and a low of Rs 32.25 so far during the day. The stock hit a 52-week high of Rs 48 on 4 December 2015. The stock hit a 52-week low of Rs 24 on 30 September 2016. The stock had outperformed the market over the past 30 days till 25 November 2016, rising 11.61% compared with the 5.73% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 16.11% as against Sensexs 5.28% decline.

The small-cap company has equity capital of Rs 166.10 crore. Face value per share is Rs 2.

Hathway Cable & Datacoms net sales rose 18.59% to Rs 318.84 crore in Q2 September 2016 over Q2 September 2015.

EBITDA (earnings before interest, taxes, depreciation and amortization) rose 12% to Rs 54.90 crore in Q2 September 2016 over Q2 September 2015. EBITDA margin stood at 17% in Q2 September 2016 compared with 18% in Q2 September 2015.

The companys revenue from the broadband business rose 67% to Rs 120.30 crore in Q2 September 2016 over in Q2 September 2015.

The companys net debt stood at Rs 1636 crore in Q2 September 2016 compared with net debt of Rs 1564.80 crore Q1 June 2016.

Hathway Cable & Datacom offers cable television services across 140 cities and towns and high-speed cable broadband services across 21 cities.

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Shares of CMI to be listed on NSE
Nov 28,2016

CMI has got listing approval (New Listing) for Equity Shares of the Company on National Stock Exchange of India (NSE) vide Ref Dated 25 November 2016. The securities of the Company will be admitted to deal on the National Stock Exchange (Capital Market Segment) with effect from 29 November 2016 and the designated security code is CMICABLES.

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Dilip Buildcon secures two road projects
Nov 28,2016

Dilip Buildcon has received letter of award for two road projects.

Rehabilitation and upgradation of NH-18 from Rayachoti-Kadapa section in the State of Andhra Pradesh under corridor approach through EPC basis of contract from Government of Andhra Pradesh, PWD Department dated 25 November 2016.

Rehabilitation and upgradation of NH-66 from Kalmath to Zarap section in the State of Maharashtra under NHDP-IV on Hybrid Annuity Mode from Government of India, Ministry of Road Transport & Highway dated 25 November 2016.

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Suzlon Energy secures repeat order for 50.40 MW wind power project
Nov 28,2016

Suzlon Energy has secured a fourth consecutive order for 50.40MW wind power project from a business house. The project consists of 24 units of S95 90m tubular tower with rated capacity of 2.1 MW. Located in the district of Anantapur, Andhra Pradesh, the project is scheduled for completion in March 2017. This takes the total current year order portfolio with the business house to 84 MW out of which 33.60 MW was announced earlier as part of order wins from SMEs.

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PTC India Financial Services announces cessation of director
Nov 28,2016

PTC India Financial Services announced that S. K. Tutjea has ceased to be the Independent Director from the Board of the PTC India Financial Services Limited (PFS) w.e.f. 26 November 2016 consequent to his resignation.

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Aurobindo Pharma inches up after pact with Teva in France
Nov 28,2016

The announcement was made after market hours on Friday, 25 November 2016.

Meanwhile, the S&P BSE Sensex was down 60.06 points or 0.23% at 26,256.28.

On BSE, so far 9,326 shares were traded in the counter as against average daily volume of 2.12 lakh shares in the past one quarter. The stock hit a high of Rs 748.45 and a hit a low of Rs 739 so far during the day. The stock had hit a record high of Rs 895 on 6 October 2016. The stock had hit a 52-week low of Rs 582 on 25 February 2016. The stock had underperformed the market over the past one month till 25 November 2016, declining 10.23% compared with the Sensexs 6.32% fall. The scrip had also underperformed the market in past one quarter, sliding 6.25% as against the Sensexs 5.46% fall.

The large-cap company has equity capital of Rs 58.52 crore. Face value per share is Rs 1.

Aurobindo Pharmas French subsidiary Arrow Generiques SAS (Arrow Generiques) will acquire the right, title and interest in products calcium and calcium vitamin D3, including the use of the OROCAL trademark. The transaction is subject to the approval of the European Commission. Following receipt of clearances from European authorities, Arrow Generiques will integrate these products with its existing commercial operations in France, and focus on maximizing their potential. Arrow Generiques and Teva intend to ensure continuity of the supply of the products to the market. This acquisition will enable Arrow Generiques to continue to increase its branded products portfolio and leverage its position as a key player in the drug market. Arrow Generiques is a pharmaceutical company with focus on selling generics on the retail and hospital markets in France since 2002.

On consolidated basis, Aurobindo Pharmas net profit rose 33.5% to Rs 605.64 crore on 12.1% growth in net sales to Rs 3713.58 crore in Q2 September 2016 over Q2 September 2015.

Aurobindo Pharma manufactures generic pharmaceuticals and active pharmaceutical ingredients. The companys manufacturing facilities are approved by several leading regulatory agencies like US FDA, UK MHRA, Japan PMDA, WHO, Health Canada, MCC South Africa, ANVISA Brazil. The companys robust product portfolio is spread over 7 major therapeutic/product areas encompassing Antibiotics, Anti-Retrovirals, CVS, CNS, Gastroenterological, Anti-Allergies and Anti-Diabetes, supported by an outstanding R&D set-up. The company is marketing these products globally in over 150 countries

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