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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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DMRL AND JSHL Sign Licensing Agreement for Transfer of Technology of High Nitrogen Steel
Mar 01,2017

Defence Metallurgical Research Laboratory (DMRL), Hyderabad, a premier research laboratory of Defence Research and Development Organization (DRDO) and Jindal Stainless (Hisar) (JSHL) signed the Licensing Agreement for Transfer of Technology of High Nitrogen Steel (HNS) for armour applications. Speaking on the occasion the Minister of State for Defence, Dr. Subhash Bhamre congratulated DMRL and DRDO for their outstanding achievement in developing a breakthrough technology for armour applications and complimented JSHL for partnering with DRDO. The Minister noted that HNS technology is a step forward towards Armys quest for lighter and high performance armouring material compared to the currently used materials. He said, it has also the potential for a number of civilian applications and for exports as well. Dr. Bhamre asserted that this is a major step towards achieving the Prime Minister Shri Narendra Modis vision of Make in India and wished the team a great success in future endeavours. The Minister called upon both public as well as private Industries and Ordnance Factories to use this material extensively in their products.

Chairman DRDO and Secretary DD (R&D) Dr. S Christopher complimented the scientists of DMRL for this achievement which comes as a giant leap forward, towards DRDOs quest for stronger and high performance defence material. He further said that the Transfer of Technology from defence R&D to industry is aligned with the Make in India policy to foster conducive environment for industrys potential growth in the strategic sectors.

Dr. Satish Chandra Sati, Director General (Naval Systems & Materials), while addressing the gathering applauded the DMRL scientists for developing many varieties of steel including HNS which would be of great importance to the industry. Dr. S. Guruprasad, CC R&D (PC &SI) in his welcome address stated that the HNS being a dream material for any researcher should find wide applications for the industry. DMRL has developed and established a number of frontline and path breaking technologies in the areas of metallurgy and material science. HNS is not only tough but also has good strength. In addition to being non magnetic as well as corrosion resistant, the HNS cost is about 40 percent less compared to Rolled Homogenous Armour Steel (RHA). Very few countries in the world have developed this technology of HNS. This material has potential for a number of defence and civil applications like armouring, mine trawls, oil industries etc.

JSHL is a stainless steel manufacturer, with state-of-the-art facility at Hisar (Haryana), backed with strong production facilities including the triplex refining route, which is used for production of HNS.

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Goa Carbon to hold board meeting
Mar 01,2017

Goa Carbon will hold a meeting of the Board of Directors of the Company on 11 April 2017, to consider and approve Audited Financial Results of the Company consisting of Balance Sheet, Profit & Loss Account and Cash Flow Statements for the 12 months period ending on 31st March, 2017, as also to decide recommendation of final dividend on equity shares for the said period, if any.

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Yantra Natural Resources to hold board meeting
Mar 01,2017

Yantra Natural Resources will hold a meeting of the Board of Directors of the Company on 9 March 2017, to consider and adopt the Ind-AS as per SEBI circular dt. July 05, 2016, inter alia, the Unaudited Financial Results for the quarter ended 31 December 2016.

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Sanguine Media to hold board meeting
Mar 01,2017

Sanguine Media will hold a meeting of the Board of Directors of the Company on 4 March 2017, for appointment & resignation of Director of the Company.

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Ambica Agarbathies Aroma& Industries to hold board meeting
Mar 01,2017

Ambica Agarbathies Aroma& Industries will hold a meeting of the Board of Directors of the Company on 5 March 2017, to consider further issue of shares on preferential basis

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Welspun Corp to hold EGM
Mar 01,2017

Welspun Corp announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 24 March 2017 .

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Board of Phillips Carbon Black recommends dividend
Mar 01,2017

Phillips Carbon Black announced that the Board of Directors of the Company at its meeting held on 1 March 2017, inter alia, have recommended the dividend of Rs 6 per equity Share (i.e. 60%) , subject to the approval of the shareholders.

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TeamF1 Networks partners with Reliance Jio Infocomm
Mar 01,2017

TeamF1 Networks, a subsidiary of D-Link India announced its partnership with Reliance Jio Infocomm, a subsidiary of Reliance Industries for delivering a state-of-the-art home gateway solution, joint reference solutions for seamless n++connected-homen++ experience for Media, Television (IPTV, STB), Telephone (VoIP), Gaming, and Internet.

The Home Gateway Solution (HGW) is a comprehensive turnkey software package from TeamF1 enabling the next-generation of rich, auto-provisioned residential gateways and CPE routers deployed by Jio.

The partnership has evolved over the past 4+ years. TeamF1 solutions help in powering Jio devices across multiple OEMs/ODMs, silicon vendors.

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Escorts announces tractor sales figures
Mar 01,2017

Escorts announced that its Agri Machinery segment in February 2017 sold 4,247 tractors, recording a growth of 29.5% compared to 3,280 tractors sold in February 2016.

Domestic sales stood at 4,104 tractors, recording growth of 28.7% over February 2016. Exports for the month were higher by 59% at 143 tractors over February 2016.

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Phillips Carbon Black fixes record date for interim dividend
Mar 01,2017

Phillips Carbon Black has fixed 13 March 2017 as the Record Date for the purpose of Payment of Interim Dividend.

The said dividend will be paid on and from 17 March 2017.

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Phillips Carbon Black to pay interim dividend
Mar 01,2017

Phillips Carbon Black announced that interim dividend will be paid on and from 17 March 2017.

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NTPC announces cessation of company secretary and compliance officer
Mar 01,2017

NTPC announced that .K.Rastogi, Company Secretary & Compliance Officer has been released from the services of the Company w.e.f. 28 February 2017 consequent upon premature retirement.

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M&M moves higher after decent tractor sales growth in February
Mar 01,2017

Meanwhile, the S&P BSE Sensex was up 251.51 points or 0.88% at 28,994.83.

On the BSE, 2.55 lakh shares were traded on the counter so far as against the average daily volumes of 89,171 shares in the past one quarter. The stock had hit a high of Rs 1,351.60 and a low of Rs 1,299.75 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 1,141.80 on 2 December 2016. It had outperformed the market over the past one month till 28 February 2017, gaining 4.43% compared with the Sensexs 3.09% rise. The scrip had also outperformed the market over the past one quarter, advancing 12.29% as against the Sensexs 9.08% rise.

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

The companys domestic tractor sales grew by 9% to 13,834 units in February 2017 over February 2016. Exports surged 35% to 1,173 units in February 2017 over February 2016.

Mahindra & Mahindras (M&M) total auto sales declined 3% to 42,714 units in February 2017 over February 2016. Total domestic sales fell 2% to 40,414 units in February 2017 over February 2016. Exports dropped 13% to 2,300 units in February 2017 over February 2016. The company announced the monthly sales volume data during market hours today, 1 March 2017.

M&Ms net profit rose 33.3% to Rs 1112.27 crore on 0.3% decline in net sales to Rs 10860.05 crore in Q3 December 2016 over Q3 December 2015.

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

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Mahindra Lifespace Developers to hold board meeting
Mar 01,2017

Mahindra Lifespace Developers will hold a meeting of the Board of Directors of the Company on 28 April 2017.

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SML Isuzu accelerates after reporting decent sales in February
Mar 01,2017

The announcement was made during market hours today, 1 March 2017.

Meanwhile, the S&P BSE Sensex was up 271.42 points or 0.94% at 29,014.74.

Higher than usual volumes were witnessed on the counter. On the BSE, 11,519 shares were traded on the counter so far as against the average daily volumes of 5,671 shares in the past one quarter. The stock had hit a high of Rs 1,297.20 and a low of Rs 1,271 so far during the day. The stock had hit a 52-week high of Rs 1,433.85 on 31 August 2016 and a 52-week low of Rs 645.50 on 29 February 2016.

The stock had outperformed the market over the past one month till 28 February 2017, gaining 5.33% compared with 3.09% gains in the Sensex. The scrip had also outperformed the market in past one quarter, rising 14.12% as against Sensexs 9.08% rise.

The small-cap company has equity capital of Rs 14.47 crore. Face value per share is Rs 10.

SML Isuzu reported net profit of Rs 3.15 crore in Q3 December 2016 compared with net loss of Rs 0.93 crore in Q3 December 2015. Net sales rose 18.3% to Rs 228.12 crore in Q3 December 2016 over Q3 December 2015.

SML Isuzu is a commercial vehicle manufacturer. Sumitomo Corporation, Japan and Isuzu Motors, Japan respectively held 43.96% and 15% stake in SML Isuzu (as per the shareholding pattern as on 31 December 2016).

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