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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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Mahindra & Mahindra announces production, sales and export figures
Apr 05,2017

Mahindra & Mahindra announced the production, sales and export figure for month of March 2017 as under -

Production
March 2017 - 50711 units
March 2016 - 53196 units

Sales
March 2017 - 53322 units
March 2016 - 48967 units

Export
March 2017 - 2709 units
March 2016 - 3751 units

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Bank of Baroda reviews MCLR rates
Apr 05,2017

Bank of Baroda has reviewed its MCLR rates effective 07 April 2017 as under -

Overnight - 8.10%
One month - 8.15%
Three month - 8.20%
Six month - 8.30%
One year - 8.35%
Three year - 8.50%
Five year - 8.65%

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V-Guard Industries to hold board meeting
Apr 05,2017

V-Guard Industries will hold a meeting of the Board of Directors of the Company on 19 May 2017 Accounts,Quarterly Results

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India and the UK announce joint UK-India Fund, namely a Green Growth Equity Fund
Apr 05,2017

India and the UK announced the launch of an Early Market Engagement for the joint UK-India Fund, namely a Green Growth Equity Fund which aims to leverage private sector investment from the City of London to invest in green infrastructure projects in India.

Both governments reaffirmed their commitment to anchor invest up to n++120 million each (i.e. totally n++ 240 million) in the joint fund which will be established under the NIIF framework. To begin with, the fund aims to raise around n++500 million, with the potential to unlock much more in future. This was announced at the bilateral meeting between Shri Arun Jaitley, the Honble Minister of Finance, Defence and Corporate Affairs, Government of India, and Rt Hon Philip Hammond MP, Chancellor of the Exchequer, Government of UK in Delhi yesterday. The two Finance Ministers announced that initial investments will focus on Indias rapidly growing green energy and renewable market and that a Fund Manager is expected to be selected in the next few months. Progress will be accelerated through early market engagement via the publication of a blueprint, with the aim to identify additional and complementary sectors for fund investments.

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Reliance Industries allots 55,970 equity shares
Apr 05,2017

Reliance Industries has allotted 55,970 equity shares of Rs.10/- each, on 03 April 2017 pursuant to the Employees Stock Option Scheme

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Volumes jump at Cholamandalam Investment and Finance Company counter
Apr 05,2017

Cholamandalam Investment and Finance Company clocked volume of 7.86 lakh shares by 12:40 IST on BSE, a 31.05-times surge over two-week average daily volume of 25,000 shares. The stock rose 0.89% to Rs 979.55.

Titan Company notched up volume of 5.24 lakh shares, a 9.39-fold surge over two-week average daily volume of 56,000 shares. The stock surged 5.79% to Rs 487.05.

Centrum Capital saw volume of 63.02 lakh shares, a 8.29-fold surge over two-week average daily volume of 7.6 lakh shares. The stock jumped 15.57% to Rs 40.45.

Prakash Industries clocked volume of 15.32 lakh shares, a 6.64-fold surge over two-week average daily volume of 2.31 lakh shares. The stock surged 6.33% to Rs 85.65.

Crompton Greaves Consumer Electricals saw volume of 31.08 lakh shares, a 6.62-fold rise over two-week average daily volume of 4.69 lakh shares. The stock dropped 1.58% to Rs 221 after a bulk deal of 20.09 lakh shares was executed on the scrip at Rs 221 per share at 10:19 IST on BSE.

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SVOGL Oil Gas & Energy to hold board meeting
Apr 05,2017

SVOGL Oil Gas & Energy will hold a meeting of the Board of Directors of the Company on 7 April 2017 to consider and Approve the following Unpublished price sensitive information : Change in Company Secretary/Compliance Officer/Key Managerial personnel Further, pursuant to the SEBI (Prohibition of Insider Trading) Regulations 2015.

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Arshiya to hold EGM
Apr 05,2017

Arshiya announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 29 April 2017 .

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Shrenuj & Company to hold AGM
Apr 05,2017

Shrenuj & Company announced that the th Annual General Meeting(AGM) of the company on 24 April 2017.

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NMDC crawls up after keeping iron ore prices flat for April
Apr 05,2017

The announcement was made after market hours on Monday, 3 April 2017.

Meanwhile, the S&P BSE Sensex was up 32.81 points or 0.11% at 29,943.03.

On the BSE, 1.5 lakh shares were traded on the counter so far as against the average daily volumes of 3.22 lakh shares in the past one quarter. The stock had hit a high of Rs 136.80 and a low of Rs 134.50 so far during the day. The stock had hit a 52-week high of Rs 152.50 on 2 March 2017 and a 52-week low of Rs 85.30 on 2 June 2016.

The stock had underperformed the market over the past one month till 3 April 2017, falling 8.62% compared with the Sensexs 3.74% rise. The scrip had also underperformed the market over the past one quarter, gaining 2.57% as against the Sensexs 12.26% rise.

The large-cap company has equity capital of Rs 316.39 crore. Face value per share is Re 1.

NMDC said that its lump ore prices were kept constant at Rs 2425 per wet metric tonne (WMT) in April 2017. Price of fine iron ore kept unchanged at Rs 2185 per WMT for April 2017.

NMDCs net profit rose 41.33% to Rs 595.16 crore on 64.6% growth in net sales to Rs 2497.86 crore in Q3 December 2016 over Q3 December 2015.

NMDC is Indias largest public sector iron ore producer. As per the shareholding pattern, Government of India (GoI) holds 74.94% stake in NMDC as on 31 December 2016.

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Gufic Biosciences jumps as board approves amalgamation of Gufic Lifesciences
Apr 05,2017

The announcement was made after market hours on Monday, 3 April 2017.

Meanwhile, the S&P Sensex was up 23.82 points, or 0.08% at 29,934.04. The S&P BSE Small-cap index was up 152.47 points, or 1.04% at 14,772.70.

On the BSE, 92,000 shares were traded on the counter so far as against the average daily volumes of 1.24 lakh shares in the past one quarter. The stock had hit a high of Rs 70.95 and a low of Rs 67.70 so far during the day.

The stock had hit a record high of Rs 72.50 on 28 March 2017 and a 52-week low of Rs 33.30 on 29 September 2016. The stock had outperformed the market over the past one month till 3 April 2017, advancing 20.07% compared with the Sensexs 3.74% rise. The scrip had also outperformed the market over the past one quarter advancing 18.17% as against the Sensexs 12.26% rise.

The small-cap company has equity capital of Rs 7.74 crore. Face value per share is Rs 1.

Gufic Biosciences announced that its board at a meeting held on Monday, 3 April 2017, approved the amalgamation of Gufic Lifesciences with the company. The share exchange ratio shall be approved by the board of directors based on the valuation report of an expert to be obtained in due course and the effective date of amalgamation shall also be decided by the board.

Gufic Biosciences net profit rose 28.1% to Rs 3.10 crore on 15.9% increase in net sales to Rs 64.97 crore in Q3 December 2016 over Q3 December 2015.

Gufic Biosciences is engaged in the manufacture of pharmaceuticals, medicinal chemicals and botanical products.

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Cipla rises in volatile trade after getting approval for Epzicom
Apr 05,2017

The announcement was made on Tuesday, 4 April 2017, when the stock markets were shut on account of local holiday.

Meanwhile, the S&P BSE Sensex was up 16.44 points, or 0.05%, to 29,926.66

On the BSE, so far 1.08 lakh shares were traded in the counter, compared with average daily volumes of 1.16 lakh shares in the past one quarter. The stock had hit a high of Rs 600.55 and a low of Rs 593.25 so far during the day.

The stock was volatile. The stock hit a 52-week high of Rs 621.90 on 6 February 2017. The stock hit a 52-week low of Rs 458.25 on 25 May 2016. The stock had underperformed the market over the past 30 days till 3 April 2017, gaining 0.71% compared with Sensexs 3.74% rise. The scrip also underperformed the market in past one quarter, rising 3.07% as against Sensexs 12.26% gain.

The large-cap pharmaceutical company has equity capital of Rs 160.90 crore. Face value per share is Rs 2.

Cipla announced that the company has received final approval for its Abbreviated New Drug Application (ANDA) for Abacavir and Lamivudine Tablets USP, 600 mg/300 mg, from the United States Food and Drug Administration(USFDA).

Abacavir and Lamivudine Tablets are AB-rated generic equivalents to the reference listed drug (RLD), Epzicom Tablets of ViiV Healthcare Company and are indicated in combination with other antiretroviral agents for the treatment of HIV-1 infection.

Epzicom Tablets had US sales of about $346.3 million for the 12 month period ended February 2017, according to IMS Health. The product will cater to the US market and will be commercially available shortly, Cipla said.

Ciplas consolidated net profit rose 43.85% to Rs 374.83 crore on 15.64% rise in net sales to Rs 3550.02 crore in Q3 December 2016 over Q3 December 2015.

Cipla is a global pharmaceutical company. Its portfolio includes over 1000 products across wide range of therapeutic categories.

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Container Corporation of India provides performance update
Apr 05,2017

Container Corporation of India announced that it has loaded approx. 36 million tons of traffic in 2016-17, registering a growth of 7.8% over 33.39 million tons in 2015-16.

There has been a growth of 9.2% in EXIM from 27.28 mt to 29.8 mt and growth of 1.5% in Domestic from 6.11 mt to 6.20 mt. The growth is primarily due to various initiatives taken by CONCOR viz reduction in dwell time at JNPT, time tabled trains and strategic ties with ports and private terminal operators.

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IFCI gets revision in credit ratings
Apr 05,2017

IFCI announced that Brickwork Ratings India has revised the ratings of the Companys borrowings as under -

Long term debt instruments - BWR A+ (Revised from BWR AA-)

The outlook on these long term ratings have been revised from Stable to Negative.

The ratings for long term structured debt instruments has been reaffirmed at BWR AA+(SO) with Stable outlook.

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K E C International secures new orders
Apr 05,2017

K E C International has secured new orders worth Rs 1781 crore. The orders were receives under the following segments -

Transmission & distribution business - Rs 1702 crore
Cable & solar business - Rs 79 crore

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