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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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Viksit Engineering announces change in company secretary and compliance officer
Dec 01,2016

Viksit Engineering announced that Anuj Nema has resigned from the position of Company Secretary and Compliance Officer of the Company w.e.f. closing working hours of 30 November 2016.

Further, Sumit Shivhare, a qualified Company Secretary, has joined the Company as Company Secretary and Compliance Officer w.e.f. 01 December 2016.

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Andhra Bank announces cessation of director
Dec 01,2016

Andhra Bank announced that K. Thamaraiselvan, Workmen Employee Director of the Bank have completed his term on 24 November 2016 and ceased to be Director on the Board of the Bank forthwith.

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Escorts announces tractor sales
Dec 01,2016

Escorts Agri Machinery segment sold 4,806 tractors in November 2016 compared to 4,706 tractors in November 2015, recording a growth of 2.1%. Total sales comprised of domestic sales of 4698 tractors and export of 108 tractors. For the period April - November 2016, total sales stood at 45,621 tractors compared to 36,881 units in the corresponding period of previous year.

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M&M slides after poor auto, tractor sales in November
Dec 01,2016

The announcement was made during market hours today, 1 December 2016.

Meanwhile, the S&P BSE Sensex was down 83.74 points or 0.31% at 26,569.07.

On the BSE, 1.22 lakh shares were traded on the counter so far as against the average daily volumes of 76,841 shares in the past one quarter. The stock had hit a high of Rs 1,193.60 and a low of Rs 1,157 so far during the day.

The stock had hit a record high of Rs 1,508.80 on 9 August 2016 and a 52-week low of Rs 1,092 on 12 February 2016. It had underperformed the market over the past one month till 30 November 2016, sliding 10.02% compared with the Sensexs 4.57% fall. The scrip had also underperformed the market in the past one quarter, declining 17.44% as against the Sensexs 5.96% fall.

The large-cap company has equity capital of Rs 310.55 crore. Face value per share is Rs 5.

Mahindra & Mahindras (M&M) total auto sales declined 22% to 32,499 units in November 2016 over November 2015. Total domestic sales fell 24% to 29,814 units in November 2016 over November 2015. Total exports rose 22% to 2,685 units in November 2016 over November 2015.

The companys total tractor sales fell 21% to 17,262 units in November 2016 over November 2015. Domestic sales declined 24% to 15,918 units in November 2016 over November 2015. Exports surged 50% to 1,344 units in November 2016 over November 2015.

M&Ms net profit rose 27.1% to Rs 1163.27 crore on 13.8% growth in net sales to Rs 10411.67 crore in Q2 September 2016 over Q2 September 2015.

M&M enjoys a leadership position in tractors and utility vehicles in India.

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Ashok Leyland announces sales figures
Dec 01,2016

Ashok Leyland reported total sales of 9,574 units in November 2016 compared to 8,971 units in November 2015, recording a growth of 7%. For the period April 2016- November 2016, total sales rose 3% at 86,714 units compared to 84,309 units in the corresponding period of previous year.

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Gartner Survey Shows That Mobile Device Adoption in the Workplace Is Not Yet Mature
Dec 01,2016

Mobile device adoption in the workplace is not yet mature, found a recent survey from Gartner, Inc. Although 80 percent of workers surveyed received one or more corporate-issued devices, desktops are still the most popular corporate device among businesses, with more than half of workers receiving corporate-issued desktop PCs.

The survey findings are based on the 2016 Gartner Personal Technologies Study, which was conducted from June to August 2016 among 9,592 respondents in the U.S., the U.K. and Australia.

Thirty-six percent of workers received laptops, including convertible laptops. Adoption of convertible laptops as a corporate-issued device is still very low, but has been gradually increasing. Gartner analysts expect that more employees will receive convertible laptops in the next three years, driven by the Windows 10 refresh that can enhance the user experience with touch-based input. Adding desktops and laptops (including convertible laptops) together, 75 percent of workers will receive at least one PC-type device in mature countries.

In contrast to the high numbers of corporate-issued PCs in the workplace, relatively few workers receive mobile devices. The majority of smartphones used in the workplace are personally owned devices n++ only 23 percent of employees surveyed are given corporate-issued smartphones.

The low adoption of corporate-issued mobile devices underlines the fact that large numbers of personally owned mobile devices are used in the workplace, said Mikako Kitagawa, principal research analyst at Gartner. In fact, more than half of employees who used smartphones at work rely solely on their personally owned smartphones.

The usage rate of personally owned tablets lags behind that of personally owned smartphones. Only 21 percent of employees use tablets n++ regardless of whether they are corporate issued or personally owned.

In the era of mobility, it comes as something of a surprise that corporate usage of smartphones and tablets is not as high as PCs, even when the use of personally owned devices is taken into account, said Ms. Kitagawa. While its true that the cost of providing mobile devices can quickly escalate, proper usage of mobile devices can increase productivity, which can easily justify the extra costs.

When employees are provided with corporate-issued devices, they are generally happy with the devices that they receive. Less than 20 percent of respondents said they were dissatisfied with their employer-provided devices. The satisfaction level is higher with tablets and smartphones compared with desktop and laptops.

Usage of personally owned devices in the workplace is nothing new, but the survey results confirm that this trend has become a new workplace standard. Two-thirds of survey respondents said that they use a personally owned device or devices for work, said Ms. Kitagawa. Smartphones and phablets are the most popular personally owned devices used for work, with 39 percent of employees using them, compared with just 10 percent who are only using corporate-issued smartphones and phablets.

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Gillette India gains after strong Q1 earnings
Dec 01,2016

The result was announced during trading hours today, 1 December 2016.

Meanwhile, the BSE Sensex was down 54.81 points, or 0.21%, to 26,598.

On BSE, so far 4,125 shares were traded in the counter, compared with average daily volume of 546 shares in the past one quarter. The stock hit a high of Rs 4,526.80 and a low of Rs 4,320.05 so far during the day. The stock hit a 52-week high of Rs 4,888 on 9 August 2016. The stock hit a 52-week low of Rs 3,805 on 12 February 2016. The stock had outperformed the market over the past 30 days till 30 November 2016, rising 2.17% compared with the 4.39% decline in the Sensex. The scrip had also outperformed the market in past one quarter, falling 1.69% as against Sensexs 6.23% decline.

The large-cap company has equity capital of Rs 32.59 crore. Face value per share is Rs 10.

Gillette India (GIL) said it benefited from portfolio optimization, even as it continues to focus on productivity and cost efficiency.

The company said its sales in grooming segment grew 12% in Q1 September 2016 over Q1 September 2015, driven by strong brand fundamentals and product portfolio.

The company said its sales in oral care segment declined 6% in Q1 September 2016 over Q1 September 2015, behind portfolio optimization to enable profitability.

Gillette India is one of Indias well-known FMCG companies that deals in some of the world leading brands, Gillette and Oral-B.

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Ashok Leyland slips after muted sales growth in November
Dec 01,2016

The announcement was made during trading hours today, 1 December 2016.

Meanwhile, the BSE Sensex was down 51.52 points, or 0.19%, to 26,601.29.

On BSE, so far 20.80 lakh shares were traded in the counter, compared with average daily volume of 12.70 lakh shares in the past one quarter. The stock hit a high of Rs 80 and a low of Rs 77.35 so far during the day. The stock hit a 52-week high of Rs 112.80 on 13 April 2016. The stock hit a 52-week low of Rs 73.60 on 22 November 2016. The stock had underperformed the market over the past 30 days till 30 November 2016, falling 11.71% compared with the 4.39% decline in the Sensex. The scrip had, however, outperformed the market in past one quarter, falling 5.07% as against Sensexs 6.23% decline.

The large-cap company has equity capital of Rs 284.59 crore. Face value per share is Re 1.

Ashok Leylands sales of light commercial vehicles (LCV) fell 1% to 2,646 units in November 2016 over November 2015. Sales of medium & heavy commercial vehicles (M&HCV) rose 10% to 6,928 units in November 2016 over November 2015.

Ashok Leylands net profit jumped 71% to Rs 294.41 crore on 7.7% drop in net sales to Rs 4503.17 crore in Q2 September 2016 over Q2 September 2015.

Ashok Leyland is one of the leading manufacturers of medium and heavy commercial vehicles in India.

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Apollo Hospitals advances after receiving investment from World Banks arm
Dec 01,2016

The announcement was made during market hours today, 1 December 2016.

Meanwhile, the S&P BSE Sensex was down 41.70 points or 0.16% at 26,611.11.

On the BSE, 33,000 shares were traded on the counter so far as against the average daily volumes of 13,020 shares in the past one quarter. The stock had hit a high of Rs 1,220.95 and a low of Rs 1,188 so far during the day. The stock had hit a record high of Rs 1,544 on 2 March 2016. The stock had hit a 52-week low of Rs 1,147 on 21 November 2016. The stock had underperformed the market over the past one month till 30 November 2016, sliding 10.63% compared with the Sensexs 4.57% fall. The scrip had also underperformed the market in past one quarter, declining 10.92% as against the Sensexs 5.96% fall.

The large-cap company has equity capital of Rs 69.56 crore. Face value per share is Rs 5.

Apollo Hospitals Enterprises wholly owned subsidiary Apollo Health and Lifestyle (AHLL) announced receiving investments of Rs 450 crore from International Finance Corporation (IFC) and IFC Asset Management Company. This investment will fuel AHLLs expansion plans and fulfill its vision of bringing healthcare of international standards within the reach of 20 million patients each year by 2020.

Sangita Reddy, Joint Managing Director, Apollo Hospitals Enterprise said, through this investment, the management endeavours to continue Apollo Groups legacy of setting industry benchmarks & contributing to elevate the standard of healthcare to the next level. Given the immense potential and the need for quality healthcare delivery at affordable prices, AHLL will continue to expand through both organic and in-organic means and is committed to enhancing the patient experience and medical care offered by the current network, Reddy said.

Commenting on the investment by IFC, Neeraj Garg, CEO - Apollo Health and Lifestyle said, AHLL operates across 7 verticals and it has multiplied its network and revenues over the past 3 years. In the next five years, the company is looking at growing its revenues significantly and expanding its network, particularly of Apollo Clinics, Apollo Diagnostics and Apollo Cradle. This investment is probably the largest ever private equity growth capital investment in the primary healthcare segment in India, Garg added.

IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets.

Apollo Hospitals Enterprises net profit rose 2.7% to Rs 91.99 crore on 15.9% growth in net sales to Rs 1634.10 crore in Q2 September 2016 over Q2 September 2015.

Apollo Hospitals is one of Asias largest healthcare groups.

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Maithan Alloys provides update on repairs for transformer at Visakhapatnam plant
Dec 01,2016

Maithan Alloys announced that said 132KV power transformer at the Companys Visakhapatnam plant is still under repair following damage due to heavy rains and floor in September 2016. The cost of repair is estimated to be around Rs 71.52 lakh. The transformer is likely to be received back from the repairer in January 2017.

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Maithan Alloys announces resumption of production at Byrnihat Unit
Dec 01,2016

Maithan Alloys announced that the production at Byrnihat Unit (Meghalaya) has commenced after repairing of Boiler Tubes of captive power plant catering power requirement of the said Unit.

There is no insurance coverage for the loss of production.

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Steel Strips Wheels spurts after good sales in November
Dec 01,2016

The announcement was made during trading hours today, 1 December 2016.

Meanwhile, the BSE Sensex was up 2.04 points, or 0.01%, to 26,654.85.

On BSE, so far 43,000 shares were traded in the counter, compared with average daily volume of 10,058 shares in the past one quarter. The stock hit a high of Rs 623.45 and a low of Rs 548.40 so far during the day. The stock hit a record high of Rs 775 on 14 October 2016. The stock hit a 52-week low of Rs 284 on 17 February 2016. The stock had underperformed the market over the past 30 days till 30 November 2016, falling 19.47% compared with the 4.39% decline in the Sensex. The scrip had, however, outperformed the market in past one quarter, falling 4.26% as against Sensexs 6.23% decline.

The small-cap company has equity capital of Rs 15.53 crore. Face value per share is Rs 10.

Steel Strips Wheels (SSWL) said the sales were heavily skewed towards the heavier wheels. Export volumes declined 24% in November 2016 over November 2015, due to a very high base of last year and it will normalise going ahead with many new exports orders starting from the month of December 2016.

In terms of value, SSWL recorded 22% growth in gross turnover to Rs 128.62 crore in November 2016 over November 2015. Net turnover rose 22% to Rs 115.25 crore in November 2016 over November 2015.

Net profit of SSWL rose 19.9% to Rs 18.02 crore on 2.8% decline in net sales to Rs 290.95 crore in Q2 September 2016 over Q2 September 2015.

SSWL designs and manufactures automotive steel wheels and is among the leading supplier to Indian and global automobile manufacturers.

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Mahindra & Mahindra announces total auto sales figures
Dec 01,2016

Mahindra & Mahindra achieved total auto sales of 32,499 vehicles in November 2016 compared to 41,590 vehicles in November 2015. Domestic sales stood at 29814 units in November 2016 compared to 39,383 units in November 2015. Exports for November 2016 stood at 2,685 units, registering a growth of 22% over November 2015. Passenger vehicle segment sold 13,217 vehicles in November 2016 compared to 19,662 vehicle in November 2015.

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Mahindra & Mahindra announces tractor sales
Dec 01,2016

Mahindra & Mahindra reported total tractor sales of 17,262 units in November 2016 compared to 21,717 units in November 2015. Domestic tractor sales stood at 15,918 units in November 2016 compared to 20,819 units in November 2015. Exports for the month stood at 1,344 units.

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Crest Ventures announces change in CFO
Dec 01,2016

Crest Ventures announced that Parag Shah has been appointed as the Chief Financial Officer and Key Managerial Personnel of the Company with effect from 01 December 2016 in place of Arvind Jain who has resigned with effect from 30 November 2016.

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