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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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Siyaram Silk Mills gains on stock-split plan
Jul 10,2017

The announcement was made after market hours on Friday, 7 July 2017.

Meanwhile, the S&P BSE Sensex was up 376.35 points, or 1.2% at 31,736.98. The S&P BSE Small-Cap index was up 80.89 points, or 0.51% at 15,911.56.

On the BSE, 719 shares were traded on the counter so far as against the average daily volumes of 722 shares in the past one quarter. The stock had hit a high of Rs 2,304.80 and a low of Rs 2,250.05 so far during the day. The stock had hit a record high of Rs 2,364 on 8 June 2017 and a 52-week low of Rs 994 on 2 August 2016.

The stock had outperformed the market over the past one month till 7 July 2017, advancing 1.83% compared with the Sensexs 0.29% rise. The scrip had also outperformed the market over the past one quarter advancing 30.92% as against the Sensexs 5.57% rise. The scrip had also outperformed the market over the past one year advancing 105.05% as against the Sensexs 15.29% rise.

The small-cap company has equity capital of Rs 9.37 crore. Face value per share is Rs 10.

Siyaram Silk Mills said that a meeting of the board of directors of the company is scheduled to be held on 26 July 2017, to consider and approve sub-division of equity shares of the company.

Siyaram Silk Mills net profit rose 57.1% to Rs 43.72 crore on 5.4% increase in net sales to Rs 529.27 crore in Q4 March 2017 over Q4 March 2016.

Siyaram Silk Mills manufactures and markets textiles, cotton, woollen synthetics and synthetic blends. The company is known for its polyester blended worsted fabrics.

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Moodys: Decentralized servicing means greater operational risks for Indian securitization deals
Jul 10,2017

Moodys Investors Service says that Indian securitization transactions that rely on decentralized servicing -- whereby repayments for the underlying loans are collected or paid in person -- are subject to greater levels of operational risk than where repayments are collected via centralized servicing through the countrys financial and payment system.

When servicing is decentralized, operation risks are higher because any failure on the part of the servicers to perform their duties would significantly disrupt the collection of loan payments.

The proportion of securitized portfolios requiring decentralized or centralized servicing generally varies between different asset classes in India. In the case of auto loan ABS, 40% to 70% of specific securitized portfolios may require decentralized servicing with repayments collected by servicers in person or paid in person by borrowers at local branch offices.

Furthermore, Moodys notes that the transfer of servicing duties from one provider to another would generally be more complex for securitization deals that rely on decentralized servicing, given the need to perform collections in person.

If a service provider is unable to perform its duties, the quick transfer of those duties to a new party is important to limit operational risk.

The presence of back-up servicer arrangements at the outset of Indian securitization transactions can reduce the operational risks faced by deals. If such arrangements are not in place from the outset and the servicer fails, it would be challenging to identify and to subsequently engage an effective replacement.

Nonetheless, although a back-up arrangement can reduce operational risks, it may not necessarily prevent losses from occurring if the replacement servicer fails to achieve the same level of loan collections as the original servicer.

At the same time, the current availability of effective third party servicers in India is limited, particularly in the case of decentralized servicing. For the alternate servicer to be effective, it should have a similar geographic reach and ability to service the portfolio requiring decentralized servicing.

In securitization transactions that rely on decentralized servicing, delinquencies can also increase significantly if there is a disruption in servicing, because borrowers may change their repayment behavior.

In such cases, very high levels of credit enhancement in securitization transactions that rely on decentralized servicing can provide significant coverage against the expected increase in losses upon servicing disruption.

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Lupin advances after receiving USFDA approval for generic drug
Jul 10,2017

The announcement was made during market hours today, 10 July 2017.

Meanwhile, the S&P BSE Sensex was up 393.73 points or 1.26% at 31,754.36.

On the BSE, 5.19 lakh shares were traded on the counter so far as against the average daily volumes of 1.44 lakh shares in the past one quarter. The stock had hit a high of Rs 1,156 and a low of Rs 1,119 so far during the day. The stock had hit a 52-week high of Rs 1,750 on 29 July 2016 and a 52-week low of Rs 1,036.80 on 5 July 2017.

The stock had underperformed the market over the past one month till 7 July 2017, sliding 3.23% compared with the Sensexs 0.29% rise. The stock had also underperformed the market over the past one quarter, declining 20.82% as against the Sensexs 5.57% rise. The scrip had also underperformed the market over the past one year, declining 32.62% as against the Sensexs 15.29% rise.

The large-cap company has equity capital of Rs 90.34 crore. Face value per share is Rs 2.

Lupin received final approval for its Flucytosine Capsules USP, 250 mg and 500 mg from the United States Food and Drug Administration (FDA) to market a generic version of Valeant Pharmaceuticals International Incs Ancobon Capsules, 250 mg and 500 mg.

Flucytosine Capsules USP, 250 mg and 500 mg are indicated for the treatment of serious infections caused by susceptible strains of Candida and/or Cryptococcus.

Ancobon Capsules had US sales of $46.6 million (IMS MAT March 2017).

On consolidated basis, Lupins net profit fell 49.2% to Rs 380.21 crore on 1.3% growth in net sales to Rs 4161.88 crore in Q4 March 2017 over Q4 March 2016.

Lupin is a transnational pharmaceutical company developing and delivering a wide range of branded & generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) globally.

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CARE Ratings leads gainers in A group
Jul 10,2017

CARE Ratings jumped 8.12% to Rs 1,704.10 at 13:45 IST. The stock topped the gainers in the BSEs A group. On the BSE, 1.11 lakh shares were traded on the counter so far as against the average daily volumes of 3.27 lakh shares in the past two weeks.

Divis Laboratories surged 7.32% at Rs 729.95. The stock was second biggest gainer in A group. On the BSE, 59.03 lakh shares were traded on the counter so far as against the average daily volumes of 91,000 shares in the past two weeks.

Reliance Communications advanced 6.37% to Rs 24.20. The stock was third biggest gainer in A group. On the BSE, 1.21 crore shares were traded on the counter so far as against the average daily volumes of 39.89 lakh shares in the past two weeks.

Punjab National Bank gained 5.2% at Rs 151.65. The stock was fourth biggest gainer in A group. On the BSE, 59.07 lakh shares were traded on the counter so far as against the average daily volumes of 7.23 lakh shares in the past two weeks.

Videocon Industries rose 4.93% to Rs 27.65. The stock was fifth biggest gainer in A group. On the BSE, 1.02 lakh shares were traded on the counter so far as against the average daily volumes of 13.81 lakh shares in the past two weeks.

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Jyoti Resins and Adhesives to hold AGM
Jul 10,2017

Jyoti Resins and Adhesives announced that the 24th Annual General Meeting (AGM) of the company will be held on 31 August 2017.

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Sharda Motor Industries to hold board meeting
Jul 10,2017

Sharda Motor Industries will hold a meeting of the Board of Directors of the Company on 17 July 2017, to consider and approve the revised audited consolidated financial results of the Company for the last quarter and year ended 31st March 2017.

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Sunrise Industrial Traders to hold board meeting
Jul 10,2017

Sunrise Industrial Traders will hold a meeting of the Board of Directors of the Company on 28 July 2017, to consider and approve the Un-audited Financial Results (Standalone) for the quarter ended 30th June 2017.

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Mukat Pipes to hold AGM
Jul 10,2017

Mukat Pipes announced that the 30th Annual General Meeting (AGM) of the company will be held on 7 August 2017.

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IEC Education to hold board meeting
Jul 10,2017

IEC Education will hold a meeting of the Board of Directors of the Company on 17 July 2017, to approve unaudited Quarterly Financial Results of the Company along with Limited Review Report for Quarter Year ended 30 June 2017

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Ruia Aquaculture Farms to hold board meeting
Jul 10,2017

Ruia Aquaculture Farms will hold a meeting of the Board of Directors of the Company on 14 July 2017, to appoint the Scrutinizer for e-Voting.

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STEL Holdings to hold AGM
Jul 10,2017

STEL Holdings announced that the 27th Annual General Meeting (AGM) of the company will be held on 3 August 2017.

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TCFC Finance to hold board meeting
Jul 10,2017

TCFC Finance will hold a meeting of the Board of Directors of the Company on 18 July 2017, to approve the Unaudited Financial Results of the Company for the quarter ended 30th June 2017.

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Yash Papers to hold board meeting
Jul 10,2017

Yash Papers will hold a meeting of the Board of Directors of the Company on 21 July 2017, to approve conversion of 2930000 warrants into 2930000 equity shares to be allotted to Mr. Ved Krishna, Managing Director (Promoter)

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Wonderla Holidays to hold AGM
Jul 10,2017

Wonderla Holidays announced that the 15th Annual General Meeting (AGM) of the company will be held on 9 August 2017.

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Volumes jump at Divis Laboratories counter
Jul 10,2017

Divis Laboratories clocked volume of 58.14 lakh shares by 13:34 IST on BSE, a 64.05-times surge over two-week average daily volume of 91,000 shares. The stock rose 7.31% to Rs 729.85.

TeamLease Services notched up volume of 39,000 shares, a 49.52-fold surge over two-week average daily volume of 1,000 shares. The stock rose 2.52% to Rs 1,483.

MT Educare saw volume of 12.10 lakh shares, a 41.16-fold surge over two-week average daily volume of 29,000 shares. The stock rose 18.05% to Rs 78.50.

Sasken Technologies clocked volume of 1.64 lakh shares, a 24.85-fold surge over two-week average daily volume of 7,000 shares. The stock rose 7.16% to Rs 499.80.

D B Corp saw volume of 3.03 lakh shares, a 24.27-fold rise over two-week average daily volume of 12,000 shares. The stock fell 0.56% to Rs 381.60.

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