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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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Bhagyanagar India intimates of High Court sanction for scheme of arrangement
Nov 23,2016

Bhagyanagar India announced that the Honble High Court of Hyderabad has sanctioned the scheme of arrangement on 21 November 2016 between Bhagyanagar India (demerged company) and Surana Telecom and Power (1st results company) and Bhagyanagar Properties (2nd resulting company) and their respectively shareholders and creditors.

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Sun Pharmaceutical Industries announces resignation of CFO
Nov 23,2016

Sun Pharmaceutical Industries announced that the Company have received a letter intimating to the Company from the Companys Chief Financial Officer (CFO), Uday Baldota that he would be tendering his resignation as the CFO of Sun Pharmaceutical Industries to be effective with effect from in and around April, 2017 due to his shifting to United States of America in and around April, 2017 to look after the business of Taro Pharmaceutical Industries, a subsidiary of Sun Pharmaceutical Industries as its Chief Executive Officer.

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Sun Pharma gains after acquisition in Russia
Nov 23,2016

The announcement was made before trading hours today, 23 November 2016.

Meanwhile, the BSE Sensex was up 4.56 points, or 0.02%, to 25,965.34.

On BSE, so far 48,000 shares were traded in the counter, compared with average daily volume of 3.49 lakh shares in the past one quarter. The stock hit a high of Rs 696.65 and a low of Rs 691.55 so far during the day. The stock hit a 52-week high of Rs 898 on 23 February 2016. The stock hit a 52-week low of Rs 572.40 on 9 November 2016. The stock had outperformed the market over the past 30 days till 22 November 2016, falling 7.68% compared with the 7.87% decline in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 10.50% as against Sensexs 7.48% decline.

The large-cap company has equity capital of Rs 240.68 crore. Face value per share is Re 1.

Sun Pharmaceutical Industries (Sun Pharma) announced the execution of definitive agreements by its wholly owned subsidiary, for the acquisition of 85.1% of JSC Biosintez, a Russian pharmaceutical company engaged in manufacture and marketing of pharmaceutical products in Russia and CIS region. The equity consideration for the 85.1% stake is $24 million. Sun Pharma would also assume a debt of approximately $36 million as part of this transaction. Biosintez is a Russian pharmaceutical company focusing on the hospital segment with annual revenues of approximately $52 million for 2015. It has a manufacturing facility in Penza region with capabilities to manufacture a wide variety of dosage forms including pharmaceuticals for injections, blood substitutes, blood preservatives, ampoules, tablets, ointment, creams, gels, suppositories, active pharmaceutical ingredients (APIs), etc.

The transaction, expected to be completed by end of 2016, is subject to approval of the Russian Federal AntiMonopoly Service and other closing conditions. As per IMS (MAT September 2016), the Russian pharmaceutical market recorded sales of approximately $10 billion. The market recorded a growth of 7.4% in local currency terms as per IMS.

In a separate announcement after market hours yesterday, 22 November 2016, Sun Pharma said it received a letter from the Chief Financial Officer (CFO), Uday Baldota that he would be tendering his resignation as the CFO of Sun Pharmaceutical Industries to be effective with effect from in and around April 2017 due to his shifting to United States of America in and around April 2017 to look after the business of Taro Pharmaceutical Industries, a subsidiary of Sun Pharmaceutical Industries as its Chief Executive Officer.

On a consolidated basis, Sun Pharmaceutical Industries net profit surged 117.25% to Rs 2235.14 crore on 13.21% rise in net sales to Rs 7764.03 crore in Q2 September 2016 over Q2 September 2015.

Sun Pharmaceutical Industries is the worlds fifth largest specialty generic pharmaceutical company and Indias top pharmaceutical company.

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Surana Telecom and Power gets High Court approval for scheme of arrangement
Nov 23,2016

Surana Telecom and Power announced that the Honble High Court of Hyderabad has sanctioned the scheme of arrangement between Bhagyanagar India (demerged company) and Surana Telecom and Power (1st results company) and Bhagyanagar Properties (2nd resulting company) and their respectively shareholders and creditors.

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Bharti Airtel gains after completing acquisition of rights to use spectrum for AP circle
Nov 23,2016

The announcement was made after market hours yesterday, 22 November 2016.

Meanwhile, the S&P BSE Sensex was up 55.66 points or 0.21% at 26,016.44

On BSE, so far 15,000 shares were traded in the counter as against average daily volume of 3.14 lakh shares in the past one quarter. The stock hit a high of Rs 308 and a low of Rs 304 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 30 days till 22 November 2016, falling 0.8% compared with the 7.87% decline in the Sensex. The scrip, however, underrperformed the market in past one quarter, sliding 13.77% as against Sensexs 7.48% decline.

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

Bharti Airtel announced that it has successfully completed the acquisition of rights to use 20 MHz of spectrum in 2300 Band ( BWA) from Aircel, for Andhra Pradesh circle following the receipt of all necessary approvals and satisfying all the conditions (including conditions stated in the Spectrum Trading Guidelines). With this, Bharti Airtel has completed the transaction in all 8 telecom circles, the company said.

On a consolidated basis, Bharti Airtels net profit fell 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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EIH to delist GDRs from London Stock Exchange
Nov 23,2016

EIH announced that the Company has terminated the Depository Agreement with Bank of New York Mellon (Depositary), resulting in termination of GDR facility. The Company will delist its GDRs from the London Stock Exchange.

The termination of the deposit agreement is expected to occur on or about 23 February 2017and the listing and admission to trading of the GDRs on the London Stock Exchange will be cancelled with effect from the same date.

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Jammu and Kashmir Bank announces change in company secretary
Nov 23,2016

Jammu and Kashmir Bank announced that Mohammad Shafi Mir, FCS shall act as Company Secretary and Compliance officer of the Bank with immediate effect in place of Abdul Majid Bhat.

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Shares of Unipro Technologies get listed
Nov 23,2016

The equity shares of Unipro Technologies (Scrip Code: 540189) are listed effective 23 November 2016 and admitted to dealings on the Exchange in the list of XT Group Securities

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Sun Pharma to acquire stake in Russian pharma company
Nov 23,2016

Sun Pharmaceutical Industries announced that the Company (including its subsidiaries and/or associate companies), has entered into an agreement to acquire 85.1% of JSC Biosintez, a Russian pharmaceutical company engaged in manufacture and marketing of pharmaceutical products in Russia and CIS region.

The cash consideration for the acquisition includes approximately USD 24 million for equity consideration of shares. Sun Pharma would also assume a debt of approximately USD 36 million as part of the transaction. The acquisition is expected to complete by end 2016.

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Wockhardt provides update on step down subsidiary in UK - C P Pharmaceuticals
Nov 23,2016

Wockhardt announced that U.S. Food and Drug Administration (USFDA) has issued a Warning Letter to C P Pharmaceuticals, Wrexham, United Kingdom, a stepdown Subsidiary of the Company.

Currently, there is no business being conducted from C P Pharmaceuticals to the US Market. C P Pharmaceuticals has already initiated required steps to address the concerns raised by USFDA and will be responding to the Agency within the prescribed time.

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L&T gains after strong Q2 results
Nov 23,2016

The result was announced after market hours yesterday, 22 November 2016.

Meanwhile, the BSE Sensex was up 74.94 points, or 0.29%, to 26,035.72.

On BSE, so far 21,000 shares were traded in the counter, compared with average daily volume of 2.57 lakh shares in the past one quarter. The stock hit a high of Rs 1,374.40 and a low of Rs 1,353 so far during the day. The stock hit a 52-week high of Rs 1,615 on 27 July 2016. The stock hit a 52-week low of Rs 1,016.60 on 12 February 2016. The stock had underperformed the market over the past 30 days till 22 November 2016, falling 11.06% compared with the 7.87% decline in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 9.76% as against Sensexs 7.48% decline.

The large-cap engineering & construction major has equity capital of Rs 186.47 crore. Face value per share is Rs 2.

The companys consolidated profit after tax (PAT) before exceptional items rose 41% to Rs 1032 crore in Q2 September 2016 over Q2 September 2015. As a part of implementation of its strategic plan, the company has divested the General Insurance business. Gross revenue on consolidated basis rose 8.2% to Rs 25011 crore in Q2 September 2016 over Q2 September 2015. Consolidated order inflow increased by 11% year on year (YoY) to Rs 31119 crore in Q2 September 2016. International orders constituted 24% of the total order inflow. Consolidated order book stood at Rs 251773 crore as on 30 September 2016, higher by 4% on YoY basis. International order book constituted 29% of the total order book.

On the business outlook, L&T said, it has integrated range of comprehensive offerings in its various operating segments and is implementing its strategic plan of profitable growth and higher return on equity. On the international front, the company continues to strengthen its position and pursue select prospects in the core infrastructure and energy sector. L&T said, it is well placed to benefit from the emerging opportunities and sustain its leadership position across the sectors.

L&T is a major Indian multinational engaged in technology, engineering, construction, manufacturing and financial services. It operates in more than 30 countries worldwide.

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L&T in focus after strong Q2 results
Nov 23,2016

Engineering & construction major L&Ts consolidated net profit jumped 84.31% to Rs 1434.63 crore on 8.73% growth in total income to Rs 25491.96 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 22 November 2016.

The companys consolidated profit after tax (PAT) before exceptional items rose 41% to Rs 1032 crore in Q2 September 2016 over Q2 September 2015. As a part of implementation of its strategic plan, the company has divested the General Insurance business. Gross revenue on consolidated basis rose 8.2% to Rs 25011 crore in Q2 September 2016 over Q2 September 2015. Consolidated order inflow increased by 11% year on year (YoY) to Rs 31119 crore in Q2 September 2016. International orders constituted 24% of the total order inflow. Consolidated order book stood at Rs 251773 crore as on 30 September 2016, higher by 4% on YoY basis. International order book constituted 29% of the total order book.

On the business outlook, L&T said, it has integrated range of comprehensive offerings in its various operating segments and is implementing its strategic plan of profitable growth and higher return on equity. On the international front, the company continues to strengthen its position and pursue select prospects in the core infrastructure and energy sector. L&T said, it is well placed to benefit from the emerging opportunities and sustain its leadership position across the sectors.

Bharti Airtel after market hours yesterday, 22 November 2016 announced that it has successfully completed the acquisition of rights to use 20 MHz of spectrum in 2300 Band ( BWA) from Aircel, for Andhra Pradesh circle following the receipt of all necessary approvals and satisfying all the conditions (including conditions stated in the Spectrum Trading Guidelines). With this, Bharti Airtel has completed the transaction in all 8 telecom circles.

Sun Pharmaceutical Industries (Sun Pharma) announced before trading hours today, 23 November 2016, the execution of definitive agreements by its wholly owned subsidiary, for the acquisition of 85.1% of JSC Biosintez, a Russian pharmaceutical company engaged in manufacture and marketing of pharmaceutical products in Russia and CIS region. The equity consideration for the 85.1% stake is $24 million. Sun Pharma would also assume a debt of approximately $36 million as part of this transaction. Biosintez is a Russian pharmaceutical company focusing on the hospital segment with annual revenues of approximately $52 million for 2015. It has a manufacturing facility in Penza region with capabilities to manufacture a wide variety of dosage forms including pharmaceuticals for injections, blood substitutes, blood preservatives, ampoules, tablets, ointment, creams, gels, suppositories, APIs, etc.

The transaction, expected to be completed by end of 2016, is subject to approval of the Russian Federal AntiMonopoly Service and other closing conditions. As per IMS (MAT September 2016), the Russian pharmaceutical market recorded sales of approximately $10 billion. The market recorded a growth of 7.4% in local currency terms as per IMS.

In a separate announcement after market hours yesterday, 22 November 2016, Sun Pharma said it received a letter from the Chief Financial Officer (CFO), Uday Baldota that he would be tendering his resignation as the CFO of Sun Pharmaceutical Industries to be effective with effect from in and around April 2017 due to his shifting to United States of America in and around April 2017 to look after the business of Taro Pharmaceutical Industries, a subsidiary of Sun Pharmaceutical Industries as its Chief Executive Officer.

Gujarat Industries Power Company (GIPCL) announced that it has commissioned two more wind turbine generators (WTGs) of 2.1 megawatts (MW) each at the Nakhatrana wind farm site at Kutch district in Gujarat. Gujarat Energy Development Agency (GEDA) has issued Certificates of Commissioning of WTGs. With the commissioning of two WTGs, GIPCL has now commissioned all the ten WTGs of the 21 MW wind farm at Nakhatrana wind farm site. The announcement was made after market hours yesterday, 22 November 2016.

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A2Z Infra Engineering provides update on subsidiary
Nov 22,2016

A2Z Infra Engineering announced that the Companys subsidiary Company A2Z Green Waste Management (previously known as A2Z Infrastructure) (A2Z Green), has on 19 November 2016, agreed to a framework with one of its lenders for a settlement of its various debt obligation aggregating to INR 416.18 crore.

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Niraj Cement Structurals announces resignation of company secretary
Nov 22,2016

Niraj Cement Structurals announced Ravindra Kumar Rawal, Company Secretary of the Company resigned from the post of Company Secretary of the Company with effect from, 22 November, 2016. He will no longer associate with the affairs of the Company w. e. f. 22 November, 2016.

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Niraj Cement Structurals announces resignation of company secretary
Nov 22,2016

Niraj Cement Structurals announced Ravindra Kumar Rawal, Company Secretary of the Company resigned from the post of Company Secretary of the Company with effect from, 22 November, 2016. He will no longer associate with the affairs of the Company w. e. f. 22 November, 2016.

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