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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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Jaiprakash Associates leads gainers on BSEs A group
Jun 22,2017

Jaiprakash Associates jumped 13.16% at Rs 17.37 at 13:50 IST. The stock topped the gainers in A group. On the BSE, 1.79 crore shares were traded on the counter so far as against the average daily volumes of 86.47 lakh shares in the past two weeks.

Amtek Auto surged 9.95% at Rs 30.95 with the stock extending recent rally on media reports that the company has received expressions of interest (EoIs) from 21 investors, including Bain Capital, TPG Capital, DA Capital, Piramal Enterprises, AION Capital, Deccan Value Investors and Edelweiss Asset Reconstruction Company which will place financial bids over the next three months for a stake in the debt-ridden auto component maker. The stock was the second biggest gainer in A group. On the BSE, 29.27 lakh shares were traded on the counter so far as against the average daily volumes of 14 lakh shares in the past two weeks.

However, Amtek Auto in a clarification issued to the stock exchanges after market hours yesterday, 21 June 2017 said that presently it does not have any information which is required to be disclosed to stock exchanges.

GVK Power & Infrastructure spurted 7.93% at Rs 7.08. The stock was the third biggest gainer in A group. On the BSE, 54.78 lakh shares were traded on the counter so far as against the average daily volumes of 10.16 lakh shares in the past two weeks.

Reliance Defence and Engineering rose 6.42% at Rs 60.5 after the company successfully delivered yet another 73,500 dead weight tonne (DWT) new-built Ice-class Panamax Bulk Carrier viz. Golden Opal on 21 June 2017 to an international customer. The announcement was made after market hours yesterday, 21 June 2017. The stock was the fourth biggest gainer in A group. On the BSE, 12.83 lakh shares were traded on the counter so far as against the average daily volumes of 3.59 lakh shares in the past two weeks.

Unitech rose 5.57% at Rs 5.31. The stock was the fifth biggest gainer in A group. On the BSE, 53.16 lakh shares were traded on the counter so far as against the average daily volumes of 21.64 lakh shares in the past two weeks.

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Volumes jump at Power Mech Projects counter
Jun 22,2017

Power Mech Projects clocked volume of 95,000 shares by 13:45 IST on BSE, a 118.46-times surge over two-week average daily volume of 1,000 shares. The stock lost 0.77% at Rs 589.95.

IFB Industries notched up volume of 95,000 shares, a 73.49-fold surge over two-week average daily volume of 1,000 shares. The stock surged 12.36% at Rs 752.65.

Oracle Financial Services Software saw volume of 26,000 shares, a 47.05-fold surge over two-week average daily volume of 1,000 shares. The stock was up 0.72% at Rs 3,682.

DFM Foods clocked volume of 3.41 lakh shares, a 31.98-fold surge over two-week average daily volume of 11,000 shares. The stock rose 1.45% at Rs 1,420.

Marico saw volume of 16.97 lakh shares, a 28.81-fold rise over two-week average daily volume of 59,000 shares. The stock lost 0.73% at Rs 313.90.

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Essel Propack fixes record date of payment of dividend
Jun 22,2017

Essel Propack has fixed 05 July 2017 as the Record Date for the purpose of Payment of Dividend & Annual General Meeting (AGM) of the Company to be held on 12 July 2017.

The Dividend, if declared at the AGM, will be paid by way of direct credit or dispatch of warrants/demand drafts on or after 14 July 2017.

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City Union Bank fixes record date for bonus issue
Jun 22,2017

City Union Bank has fixed 15 July 2017 as record date for bonus issue in ratio of 1:10.

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IDFC heads north after RBI removes foreign investment curbs
Jun 22,2017

Meanwhile, the S&P BSE Sensex was up 180.31 points or 0.58% at 31,463.95. The S&P BSE Mid-Cap index rose 48.54 points or 0.33% at 14,899.28.

On the BSE, 7.81 lakh shares were traded on the counter so far as against the average daily volumes of 14.53 lakh shares in the past one quarter. The stock had hit a high of Rs 59.25 and a low of Rs 57.95 so far during the day. The stock had hit a 52-week high of Rs 71.20 on 26 October 2016 and a 52-week low of Rs 46.60 on 24 June 2016.

The stock had underperformed the market over the past one month till 21 June 2017, sliding 6.14% compared with the Sensexs 2.69% rise. The stock had also underperformed the market over the past one quarter, advancing 5.04% as against the Sensexs 6.1% rise. The scrip had underperformed the market over the past one year, gaining 13.35% as against the Sensexs 16.67% rise.

The mid-company has equity capital of Rs 1595.95 crore. Face value per share is Rs 10.

The Reserve Bank of India (RBI) yesterday, 21 June 2017 notified that the foreign shareholding by foreign institutional investors (FIIs)/foreign portfolio investors (FPIs) in IDFC have gone below the prescribed FII/FPI investment limit. Hence, the restrictions placed on the purchase of shares by FII/FPI of IDFC are withdrawn with immediate effect.

On consolidated basis, IDFCs net profit rose 3.3% to Rs 134.80 crore on 22.7% growth in total income to Rs 2577.88 crore in Q4 March 2017 over Q4 March 2016.

Post the demerger and transfer of the financing undertaking to IDFC Bank with effect from 1 October 2015, IDFC is mainly an investment company with minimal operations.

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Graphite India hits record high on recent rally
Jun 22,2017

Meanwhile, the S&P BSE Sensex was up 181.63 points, or 0.58% at 31,465.27. The S&P BSE Small-Cap index was up 83.46 points, or 0.53% at 15,779.73.

High volumes were witnessed on the counter. On the BSE, 3.15 lakh shares were traded on the counter so far as against the average daily volumes of 61,603 shares in the past one quarter. The stock had hit a high of Rs 160.20 so far during the day, which is also its record high. The stock hit a low of Rs 149.25 so far during the day. The stock had hit a 52-week low of Rs 70.10 on 30 September 2016.

The stock had outperformed the market over the past one month till 21 June 2017, advancing 31.12% compared with the Sensexs 2.69% rise. The scrip had also outperformed the market over the past one quarter advancing 32.82% as against the Sensexs 6.1% rise. The scrip had also outperformed the market over the past one year advancing 98.2% as against the Sensexs 16.67% rise.

The small-cap company has equity capital of Rs 39.08 crore. Face value per share is Rs 2.

Shares of Graphite India surged 33.76% in eight trading sessions to its current ruling price of Rs 157.10, from a close of Rs 117.45 on 12 June 2017.

Graphite Indias net profit spurted 117% to Rs 61.97 crore on 7.2% increase in net sales to Rs 366.22 crore in Q4 March 2017 over Q4 March 2016.

Graphite India is engaged in the manufacture of graphite electrodes including carbon and graphite specialty products.

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Tata Elxsi selected as strategic design partner by Airports Authority of India
Jun 22,2017

Tata Elxsi announced that announced that it has been selected by the Airports Authority of India (AAI) out of a competitive global bid to improve passenger experience for all AAI managed airports.

AAI, a mainstay in Civil Aviation sector in the country, is entrusted with the responsibility of creating, upgrading, maintaining and managing civil aviation infrastructure on both ground and airspace for India.

As a strategic design partner, Tata Elxsi will help AAI to provide a seamless passenger travel experience. Tata Elxsi will be primarily responsible to set the wayfinding and information design guidelines for all AAI airports coming up in the future.

Tata Elxsi will also enable AAI to set a team and create a process to design and implement world-class, customer-centric information and wayfinding system. This will cover the entire passenger journey right from parking to boarding the plane, to making the spaces efficientand user-friendly. The design will be in line with the global standards and Tata Elxsi will set the guidelines / standards for all future airports.

Tata Elxsi has already started the work on creating an intuitive, customer-centric wayfinding system and developing a unique image for several airport terminals.

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IBREL IBL Scheme Trust sells 3.3 crore shares of Indiabulls Real Estate
Jun 22,2017

Indiabulls Real Estate announced that IBREL IBL Scheme Trust, of which Indiabulls Real Estate is the sole beneficiary, has sold 3.3 crore shares of the Company, on 22 June 2017 at the stock exchanges, and has realised approx. Rs 662.83 crore at an average price of about Rs 200.85 per share. The sale proceeds would be used for meeting Companys funding requirements for its ongoing businesses and general corporate purposes or any other purposes as may be approved by its Board.

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Mindtree advances after introducing new IT service
Jun 22,2017

The announcement was made after market hours yesterday, 21 June 2017.

Meanwhile, the S&P BSE Sensex was up 207.85 points, or 0.66%, to 31,491.49. The S&P BSE Mid-Cap index was up 81.97 points, or 0.55%, to 14,932.71.

On the BSE, 7,916 shares were traded in the counter so far, compared with average daily volume of 53,649 shares in the past one quarter. The stock had hit a high of Rs 529.95 and a low of Rs 519 so far during the day. The stock had hit a 52-week high of Rs 681.50 on 5 July 2016. The stock had hit a 52-week low of Rs 400 on 9 November 2016.

The stock had outperformed the market over the past one month till 21 June 2017, gaining 4.47% compared with 2.69% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 9.41% as against Sensexs 6.1% gains. The scrip had, however, underperformed the market in past one year, dropping 20.76% as against Sensexs 16.67% gains.

The mid-cap company has equity capital of Rs 168.03 crore. Face value per share is Rs 10.

Mindtree said that the service combines next-practice methods and tools to tightly integrate infrastructure and applications into a unified foundation that provides up to 30% cost savings from traditional operating models.

Integrated Services is powered by Mindtree CAPE, a customizable plug-and-play platform that integrates the enterprise technology landscape and accelerates the automation journey. It is equipped with converged capabilities of DevOps and Agile along with technologies like robotic process automation and cognitive computing.

Mindtree had announced on 19 June 2017 that its company, Magnet 360 announced the release of ConsumerConnect 36, a Salesforce Fullforce Solution Accelerator for consumer goods brands.

Mindtrees consolidated net profit fell 5.72% to Rs 97.20 crore on 1.76% rise in net sales to Rs 1318.10 crore in Q4 March 2017 over Q3 December 2016.

Mindtree delivers digital transformation and technology services from ideation to execution, enabling Global 2000 clients to outperform the competition.

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Tayo Rolls allots 3.80 lakh preference shares to Tata Steel
Jun 22,2017

Tayo Rolls announced that the Committee of the Board at their meeting held on 22 June 2017 has allotted 3,80,000 7.17% Non Cumulative Redeemable Preference Shares of Rs 100 each aggregating to Rs 3.80 crore to Tata Steel, the Promoter on preferential basis.

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Amtek Auto extends recent rally
Jun 22,2017

Meanwhile, the S&P BSE Sensex was up 210.83 points or 0.67% at 31,494.47. The S&P BSE Small-Cap index rose 102.77 points or 0.65% at 15,799.04.

On the BSE, 29.13 lakh shares were traded on the counter so far as against the average daily volumes of 7.40 lakh shares in the past one quarter. The stock had hit a high of Rs 30.95 and a low of Rs 30 so far during the day. The stock had hit a 52-week high of Rs 56.20 on 26 July 2016 and a 52-week low of Rs 21.25 on 20 June 2017.

The stock had underperformed the market over the past one month till 21 June 2017, sliding 23.09% compared with the Sensexs 2.69% rise. The stock had also underperformed the market over the past one quarter, declining 20.48% as against the Sensexs 6.1% rise. The scrip had also underperformed the market over the past one year, sliding 22.45% as against the Sensexs 16.67% rise.

The small-cap company has equity capital of Rs 49.65 crore. Face value per share is Rs 2.

Shares of Amtek Auto rallied 31.98% in three trading sessions to its ruling price, from its closing of Rs 23.45 on 19 June 2017. The rally in the stock was triggered by media reports that the company has received expressions of interest (EoIs) from 21 investors, including Bain Capital, TPG Capital, DA Capital, Piramal Enterprises, AION Capital, Deccan Value Investors and Edelweiss Asset Reconstruction Company which will place financial bids over the next three months for a stake in the debt-ridden auto component maker.

However, Amtek Auto in a clarification issued to the stock exchanges after market hours yesterday, 21 June 2017 said that presently it does not have any information which is required to be disclosed to stock exchanges. The company cited its earlier disclosures dated 30 November 2016 and 30 May 2017 wherein it had stated that the secured lenders to the company had already initiated process to seek substantial investments from the potential investors in the company.

Total promoter holding in Amtek Auto stood at 52.4% as per the shareholding pattern as on 10 April 2017.

Amtek Auto reported net loss of Rs 307.57 crore in Q4 March 2017, lower than net loss of Rs 563 crore in Q4 March 2016. Net sales declined 31.8% to Rs 442.36 crore in Q4 March 2017 over Q4 March 2016.

Amtek Auto is one of the leading integrated auto component manufacturers.

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Ujjivan Financial Services to hold AGM
Jun 22,2017

Ujjivan Financial Services announced that the Annual General Meeting (AGM) of the company will be held on 4 August 2017.

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Reliance Capital to hold EGM
Jun 22,2017

Reliance Capital announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 24 July 2017 .

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Jayant Agro Organics to hold AGM
Jun 22,2017

Jayant Agro Organics announced that the 25th Annual General Meeting (AGM) of the company will be held on 9 August 2017.

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Electrex India to hold AGM
Jun 22,2017

Electrex India announced that the Annual General Meeting (AGM) of the company will be held on 30 September 2016.

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