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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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Gartner Says Worldwide PC Shipments Declined 4.3 Percent in Second Quarter of 2017
Jul 13,2017

Worldwide PC shipments totaled 61.1 million units in the second quarter of 2017, a 4.3 percent decline from the second quarter of 2016, according to preliminary results by Gartner, Inc. The PC industry is in the midst of a 5 year slump, and this is the 11th straight quarter of declining shipments. Shipments in the second quarter of this year were the lowest quarter volume since 2007.

Higher PC prices due to the impact of component shortages for DRAM, solid state drives (SSDs) and LCD panels had a pronounced negative impact on PC demand in the second quarter of 2017, said Mikako Kitagawa, principal analyst at Gartner The approach to higher component costs varied by vendor. Some decided to absorb the component price hike without raising the final price of their devices, while other vendors transferred the costs to the end-user price.

However, in the business segment, vendors could not increase the price too quickly, especially in large enterprises where the price is typically locked in based on the contract, which often run through the quarter or even the year, Ms. Kitagawa said. In the consumer market, the price hike has a greater impact as buying habits are more sensitive to price increases. Many consumers are willing to postpone their purchases until the price pressure eases.

HP Inc. reclaimed the top position from Lenovo in the worldwide PC market in the second quarter of 2017. HP Inc. has achieved five consecutive quarters of year-over-year growth. Shipments grew in most regions, and it did especially well in the U.S. market where its shipments growth far exceeded the regional average.

Lenovos global shipments declined 8.4 percent in the second quarter of 2017, after two quarters of growth. Lenovo recorded year-over-year shipment declines in all key regions. Ms. Kitagawa said the 2Q17 results could reflect Lenovos strategic shift from unit share gains to margin protection. The strategic balance between share gain and profitability is a challenge for all PC vendors.

Dell achieved five consecutive quarters of year-on-year global shipment growth, as shipments increased 1.4 percent in 2Q17. Dell has put a high priority on PCs as a strategic business. Among the top three vendors, Dell is the only vendor which can supply the integrated IT needs to businesses under the Dell Technologies umbrella of companies.

In the U.S., PC shipments totaled 14 million units in the second quarter of 2017, a 5.7 percent decline from the second quarter of 2016 (see Table 2). The U.S. market declined due to weak consumer PC demand. The business market has shown some consistent growth, while early indicators suggest that spending in the public sector was on track with normal seasonality as the second quarter is typically the peak PC procurement season. However, the education market was under pressure from strong Chromebook demand.

The Chromebook market has been growing much faster than the overall PC market. Gartner does not include Chromebook shipments within the overall PC market, but it is moderately impacting the PC market. Worldwide Chromebook shipments grew 38 percent in 2016, while the overall PC market declined 6 percent.

The Chromebook is not a PC replacement as of now, but it could be potentially transformed as a PC replacement if a few conditions are met going forward, Ms. Kitagawa said. For example, infrastructure of general connectivity needs to improve; mobile data connectivity needs to become more affordable; and it needs to have more offline capability.

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GTL Infrastructure allots 4,88,268 equity shares
Jul 13,2017

GTL Infrastructure announced that the Committee of the Company at its meeting held on 13 July 2017 has considered allotment of 4,88,268 equity shares consequent to conversion of 90 FCCBs of US$ 1000 each (Series B Bonds) at a conversion price of Rs 10 per share, in terms of the Offering Circular dates 17 October 2012 for issue of USD 207,546,000 interest brearing convertible bonds due 2017.

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Niyogin Fintech to hold board meeting
Jul 13,2017

Niyogin Fintech will hold a meeting of the Board of Directors of the Company on 18 July 2017.

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Olympic Management & Financial Serv. to hold board meeting
Jul 13,2017

Olympic Management & Financial Serv. will hold a meeting of the Board of Directors of the Company on 11 August 2017.

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Shilp Gravures to hold board meeting
Jul 13,2017

Shilp Gravures will hold a meeting of the Board of Directors of the Company on 22 July 2017.

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KZ Leasing & Finance to hold board meeting
Jul 13,2017

KZ Leasing & Finance will hold a meeting of the Board of Directors of the Company on 25 July 2017.

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Astral Poly Technik to hold AGM
Jul 13,2017

Astral Poly Technik announced that the Annual General Meeting (AGM) of the company will be held on 8 August 2017.

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Grasim Industries allots 2,915 equity shares
Jul 13,2017

Grasim Industries informed the Exchange that the Stakeholders Relationship Committee of the Board of Directors of the Company has approved allotment of 2,915 Equity shares of Rs. 2 each of the Company upon exercise of restricted stock units under the Companys Employee Stock Option Scheme, 2013.

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Lypsa Gems & Jewellery to hold board meeting
Jul 13,2017

Lypsa Gems & Jewellery will hold a meeting of the Board of Directors of the Company on 11 August 2017, to Take on Record the Unaudited Results for the Quarter Ended June 30 2017 (Q1).

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Crescent Leasing to hold board meeting
Jul 13,2017

Crescent Leasing will hold a meeting of the Board of Directors of the Company on 14 August 2017, to consider Un-Audited Financial Results (Provisional) for the 1st quarter / three months ended on 30th June 2017 (Q-I) for the financial year ended on 31st March 2018.

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Kewal Kiran Clothing to hold board meeting
Jul 13,2017

Kewal Kiran Clothing will hold a meeting of the Board of Directors of the Company on 28 July 2017, to approve the Audited Financial Results of the company for the quarter ended June 30 2017.

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Kilburn Chemicals to hold board meeting
Jul 13,2017

Kilburn Chemicals will hold a meeting of the Board of Directors of the Company on 14 August 2017, to approve the un-audited financial results of the company for the quarter ended 30th June2017

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NCL Research and Financial Services to hold board meeting
Jul 13,2017

NCL Research and Financial Services will hold a meeting of the Board of Directors of the Company on 14 August 2017, to approve the Un-Audited Financial Results (Provisional) for the 1st quarter / three months ended on 30th June 2017 (Q-I)

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JK Cements to hold board meeting
Jul 13,2017

JK Cements will hold a meeting of the Board of Directors of the Company on 12 August 2017, to consider, approve and take on record Unaudited Financial Results of the Company for the 1st Quarter Ended on 30th June 2017.

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Thirdwave Financial Intermediaries to hold board meeting
Jul 13,2017

Thirdwave Financial Intermediaries will hold a meeting of the Board of Directors of the Company on 10 August 2017.

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