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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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Caplin Point Laboratories to announce December quarter results
Jan 12,2017

Caplin Point Laboratories announced that the meeting of the Board of Directors of the Company is scheduled to be held on 06 February 2017 inter alia to consider, approve and take on record the Un-audited Financial Results for the quarter/nine months ended 31 December 2016.

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Board of IFGL Refractories to consider December quarter results
Jan 12,2017

IFGL Refractories announced that a meeting of the Board of Directors of the Company is scheduled to be held on 11 February 2017 for considering, amongst others, unaudited financial results, both on stand-alone and consolidated basis, of the Company for quarter ended on 31 December 2016.

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Hindustan Organic spurts on plans to sell some fixed assets
Jan 12,2017

The announcement was made after market hours yesterday, 11 January 2017.

Meanwhile, the S&P BSE Sensex was up 110.53 points or 0.41% at 27,250.94.

Huge volumes were witnessed on the counter. On the BSE, 4.42 lakh shares were traded in the counter so far as against average daily volume of 77,099 shares in past one quarter. The stock was locked at a high of Rs 25.80 in intraday trade. The stock had hit a low of Rs 24.10 so far during the day. The stock had hit a 52-week high of Rs 27.20 on 26 October 2016. The stock had hit a 52-week low of Rs 12.20 on 17 February 2016.

The stock had outperformed the market over the past one month till 11 January 2017, rising 6.97% compared with the Sensex 1.47% gains. The scrip had also outperformed the market in past one quarter, rising 6.7% as against Sensexs 3.35% decline.

The small-cap company has equity capital of Rs 67.17 crore. Face value per share is Rs 10.

Hindustan Organic Chemicals (HOCL) said that a meeting of the board of directors of the company will be held on 20 January 2017, to consider and to approve the proposal to sell part of the companys land at Rasayani to BPCL.

The board will also consider a proposal to sell land, plant & machinery of C.N.A plant at HOCL Rasayani to The Indian Space Research Organisation (ISRO) as per government of Indias directions.

The board will consider Q3 results on that day.

Hindustan Organic Chemicals reported a net loss of Rs 46 crore in Q2 September 2016, lower than net loss of Rs 48.08 crore in Q2 September 2015. Net sales dropped 0.4% to Rs 26.92 crore in Q2 September 2016 over Q2 September 2015.

Hindustan Organic Chemicals manufactures basic organic chemicals.

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Board of Trinity League India to consider December quarter results
Jan 12,2017

Trinity League India announced that meeting of the Board of Directors of the Company will be held on 24 January 2017, inter alia, to consider and approve the Un-audited Financial results of the Company for the quarter ended 31 December 2016.

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AksharChem (India) to announce Q3 and 9M results
Jan 12,2017

AksharChem (India) announced that a meeting of Board of Directors of the Company is schedule to be held on 23 January 2017 inter alia, to consider, approve and take on record Un-audited Financial Results for the quarter and nine months ended 31 December 2016.

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Board of Hawkins Cooker to consider December quarter results
Jan 12,2017

Hawkins Cooker announced that a meeting of the Board of Directors will be held on 31 January 2017, to approve and take on record the Unaudited Financial Results for the quarter ended 31 December 2016.

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MMTC provides update on Neelachal Ispat Nigam (JV of MMTC and Govt. of Orissa)
Jan 12,2017

MMTC announced that Neelachal Ispat Nigam (NINL) - the Joint Venture Company promoted jointly by MMTC and Government Orissa has signed a mining lease agreement on 11 January 2017 for Iron Ore, the basic raw material for operation of NINL.

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Godrej Industries to announce Q3 results
Jan 12,2017

Godrej Industries announced that a meeting of the Board of Directors of the Company will be held on 14 February 2017, inter alia, to consider and approve the unaudited financial results (Standalone & Consolidated) of the Company for the quarter ended 31 December 2016 (Q3).

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Biocon scales record high as USFDA accepts BLA for proposed biosimilar Trastuzumab
Jan 12,2017

The announcement was made after market hours yesterday, 11 January 2017.

Meanwhile, the S&P BSE Sensex was up 91.67 points or 0.34% at 27,232.08

On the BSE, 1.64 lakh shares were traded on the counter so far as against the average daily volumes of 32,692 shares in the past one quarter. The stock hit a high of Rs 1,052.05 in intraday trade so far, which is record high for the counter. The stock hit a low of Rs 1,017.60 so far during the day. The stock had hit a 52-week low of Rs 430.80 on 12 February 2016.

The stock had outperformed the market over the past 30 days till 11 January 2017, rising 7.2% compared with 1.66% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 6.62% as against Sensexs 1.82% fall.

The large-cap company has equity capital of Rs 100 crore. Face value per share is Rs 5.

Biocon and Mylan N V announced that the US Food and Drug Administration (FDA) has accepted Mylans biologics license application (BLA) for MYL-1401O,a proposed biosimilar trastuzumab, for filing through the 351(k) pathway. This product is a proposed biosimilar to branded trastuzumab,which is indicated to treat certain HER2-positive breast cancers. The anticipated FDA goal date set under the Biosimilar User Fee Act(BsUFA) is 3 September 2017. Mylan and Biocons proposed biosimilar trastuzumab is also under review by the European Medicines Agency (EMA).

Mylan President Rajiv Malik commented that this is Mylan and Biocons first US regulatory submission through the 351(k) pathway and reinforces the strength of collaboration to increase access to a broad portfolio of high-quality, affordable biosimilars worldwide.

Dr Arun Chandavarkar, CEO and Joint Managing Director, Biocon, said it is a major milestone for the Mylan and Biocon collaboration since it is the first US regulatory submission through joint global biosimilars program.

Biocon reported consolidated net profit of Rs 146.70 crore in Q2 September 2016 as compared with net loss of Rs 10.60 crore in Q2 September 2015. Consolidated total income rose 21.3% to Rs 984.20 crore in Q2 September 2016 over Q2 September 2015.

Biocon is Indias largest and fully-integrated, innovation-led biopharmaceutical company.

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Board of Indian Oil Corporation to consider Q3 results
Jan 12,2017

Indian Oil Corporation announced that a Board Meeting of the Company is scheduled on 31 January 2017, inter alia, to consider and approve the Unaudited Financial Results of the Company for the third quarter ended 31 December 2016 (Q3).

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Board of Sundaram Brake Linings to consider Q3 and 9M results
Jan 12,2017

Sundaram Brake Linings announced that a meeting of the Board of Directors of the Company is scheduled to be held on 02 February 2017, inter alia, to consider and approve the Unaudited Financial Results for the Quarter / Nine months ended 31 December 2016.

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Anjani Portland Cement commissions 16 MW captive power plant
Jan 12,2017

Anjani Portland Cement announced that the 16 MW coal based Captive Power Plant has been commissioned successfully at the Factorys cement plant in Telangana.

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NTPC plans to take over Chhabra Thermal Power Plant
Jan 12,2017

NTPC has signed a non-binding MoU with Rajasthan Rajya Vidyut Utpadan Nigam and Rajasthan Urja Vikas Nigam for take-over of Chhabra Thermal Power Plant Stage-I (4x 250 MW) and Stage-II (2x660 MW) of Rajasthan Urja Vikas Nigam by NTPC.

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Steel Strip Wheels bags export order
Jan 12,2017

Steel Strip Wheels has bagged another after market exports order for supply of Caravan Steel wheels for EU Trailer market. Total order covers supplies of 62,000 wheels in 3 months. Orders comprise of 13 steel wheels to be supplied from SSWL with shipments starting from February 2017.

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Board of Everest Organics approves allotment of shares on conversion of warrants
Jan 12,2017

Everest Organics announced that the Board of Directors of the Company at its meeting held on 12 January 2017, the following has been approved/ resolved :

- Allotment of 3,60,000 Equity Shares on conversion of 3,60,000 warrants.

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