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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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Minister of Railways Releases Third Party Audit Report on Station Cleanliness
May 18,2017

Minister of Railways, Shri Suresh Prabhakar Prabhu released Third Party Audit Report on Station Cleanliness and Inaugurated Swachh Rail Portal. Vishakhapatnam in Andhra Pradesh and Beas in Punjab is the Cleanest Station in A1, A Category Stations Respectively. Khammam station Comes 2nd Rank in Station Cleanliness in A Category from 285 Rank previous Year.

Minister of Railways dedicated a SWACHH RAIL PORTAL to showcase rankings of stations and trains, methodology adopted for rankings and stations/trains specific dashboards.n++ This web portal will also be leveraged to seek passenger feedback on cleanliness on a continual basis.

Speaking on the occasion, Minister of Railways Shri Suresh Prabhu said that Indian Railways started third party Cleanliness Index of Stations since last year. Railways have accomplished a significant improvement in cleanliness at station. This index instils competitive spirit among the stations. The biggest challenge for cleanliness at the platforms is visitors along with the passengers, even the toilets are used by large number of visitors who are not Railway travellers. However, Railways have to move forward. The focus is on Platform cleanliness, coach cleanliness, toilets cleanliness in the coach & track cleanliness. Railways have introduced Clean My Coach services which is getting overwhelming response of the passengers, Four green corridors have been marked which are free from discharge of human waste. I urge the municipal corporation of the cities which have encroachments to come forward and cooperate in eliminating human waste from the tracks. He said that Vishakhapatnam has emerged as the winner in Cleanliness Index by securing Ist position in A1 category, Beas has emerged as Ist winner in A category station. Guwahati, Varanasi, Mughalsarai&HazratNizamuddin Station have shown tremendous improvements, He said that lot of NGOs, Students group have come forward to clean and beautify their stations. He also thanked & dedicated this achievement to the people in respective areas,

Background:

Indian Railways is the third largest rail network with 66,000 route kilometre stretch covering more than 8000 stations. Consequent to the launch of Swachh Bharat Abhiyan on 2nd Oct2014 by Honble Prime Minister Shri Narendra Modi, Indian Railways had also launched Swachh Rail Swachh Bharat Abhiyan to achieve the vision of Clean India by 2nd Oct 2019, which shall be the 150th Birthday of father of the Nation Mahatma Gandhi.

In the Rail Budget presented in Feb2015, 2016 and 2017, series of measures to improve the cleanliness of stations were announced to take forward the momentum of Swachh Rail Swachh Bharat. One of the measures given in Feb2016 Budget is ranking of A1 and A category stations based on regular periodic third party audit and feedback from passengers, with a view to identify unclean spots/gaps and to improve cleanliness standards and also to propel healthy competition among railway stations. Ministry of Railway (Environment and Housekeeping Management Directorate, Railway Board) commissioned a passenger feedback survey on cleanliness at major railway stations. The task of survey was entrusted to Indian Railway Catering and Tourism Corporation (IRCTC).

First survey conducted by IRCTC in 2016 by conducting interviews of passengers at the stations on various parameters of cleanliness and rating them on these basis. The second survey has been conducted by Quality Council of India (QCI) who with the help of their partners have conducted the survey of 407 major railway stations (75 A1 category and 332 A category stations) of Indian Railways.

The parameters adopted for conducting the survey are: Evaluation of Process of cleanliness in Parking, main entry area, main platform, waiting room,(33.33%) direct observation by QCI assessors of cleanliness in these areas (33.33%) and passenger feedback(33.33%). A 24x7 control room was set upn++ and images were geo-tagged to monitor progress.

The survey was conducted through interviews with respondents on the questionnaire on cleanliness indicators, which was done face to face by survey teams by visiting each of the 407 stations across 16 Zonal Railways. Every passenger was asked to rate the cleanliness of stations objectively on 40 different cleanliness parameters.

Purely based on the survey on the cleanliness of stations and the analysis thereof, 407 major stations have been given rankings in this Report submitted by the survey agency to Ministry of Railways for scrutiny and further action. Final report is expected to be submitted by QCI shortly, which will include specific actionable items for each division. Ministry of Railways will take further action for improving the cleanliness standards at major stations of Indian Railways thereupon.

RankA1 Category Station
(Out of 75)
A Category Station
(Out of 332)
Railway Zone
(Out of 16)

1

Vishakhapatnam,
East Coast Railway,
Andhra Pradesh

Beas, Northern Railway, Punjab

South East Central Railway

2

Secunderabad, South Central Railway, Telangana

Khammam, South-Central Railway, Telangana

East Coast Railway

3

Jammu Tawi, Northern Railway, Jammu Kashmir

Ahmednagar, Central Railway, Maharashtra

Central Railway

4

Vijayawada, South Central Railway, Andhra Pradesh

Durgapur, Eastern Railway, West Bengal

South Central Railway

5

Anand Vihar Terminal, Northern Railway, Delhi

Mancherial, South Central Railway, Telangana

Western Railway

6

Lucknow, Northern Railway, Uttar Pradesh

Badnera,Central Railway, Maharashtra

South Western Railway

7

Ahmedabad, Western Railway, Gujarat

Rangn++n++ iya Junction, North Frontier Railway, Assam

North Eastern Railway

8

Jaipur, North Western Railway, Rajasthan

Warangal, South Central Railway, Telangana

North Western Railway

9

Pune, Central Railway, Maharashtra

Damoh,West Central Railway. Madhya Pradesh

Southern Railway

IOB declines after reporting Q4 numbers
May 18,2017

The result was announced after market hours yesterday, 17 May 2017.

Meanwhile, the S&P BSE Sensex was down 177.92 points or 0.58% at 30,480.85. The S&P BSE Mid-Cap index was down 197.97 points or 1.31% at 14,879.

On the BSE, 2.24 lakh shares were traded on the counter so far as against the average daily volumes of 4.05 lakh shares in the past one quarter. The stock had hit a high of Rs 29 and a low of Rs 28.35 so far during the day.

The stock had hit a 52-week high of Rs 32.25 on 5 May 2017 and a 52-week low of Rs 21.10 on 9 November 2016. It had outperformed the market over the past one month till 17 May 2017, advancing 6.67% compared with the Sensexs 4.23% rise. The scrip had also outperformed the market over the past one quarter, gaining 11.28% as against the Sensexs 7.69% rise.

The mid-cap public sector bank has equity capital of Rs 2454.73 crore. Face value per share is Rs 10.

The banks total income declined 8.1% to Rs 5661.70 crore in Q4 March 2017 over Q4 March 2016.

The banks gross non-performing assets (NPAs) stood at Rs 35098.25 crore as on 31 March 2017 as against Rs 34502.13 crore as on 31 December 2016 and Rs 30048.63 crore as on 31 March 2016.

The ratio of gross NPAs to gross advances stood at 22.39% as on 31 March 2017 as against 22.42% as on 31 December 2016 and 17.4% as on 31 March 2016. The ratio of net NPAs to net advances stood at 13.99% as on 31 March 2017 as against 14.32% as on 31 December 2016 and 11.89% as on 31 March 2016.

The banks provisions and contingencies declined 32.9% to Rs 1789.74 crore in Q4 March 2017 over Q4 March 2016.

Government of India holds 79.56% stake in Indian Overseas Bank as per the shareholding pattern as on 31 March 2017.

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Board of Hindustan Copper approves issue of fresh equity
May 18,2017

The Board of Directors of Hindustan Copper on 17 May 2017 has recommended issue of fresh equity shares through further public offer or IPP or QIP or combination of the routes as per extant guidelines, to the extend of 9,25,21,800 equity shares (i.e. 10% of the existing paid up capital) for necessary government approvals.

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Duncan Engineering announces change in CFO
May 18,2017

Duncan Engineering announced that the Board of Directors on 17 May 2017 appointed Chandresh Taunk as Chief Financial Officer w.e.f 17 May 2017. Also be informed that Anurag Jain resigned as Chief Financial Officer of the Company w.e.f 17 May 2017.

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Board of UFO Moviez India approves purchase of additional shares in Scrabble
May 18,2017

The Board of Directors of UFO Moviez India on 17 May 2017 has approved purchase of 66,609 equity shares of Scrabble Entertainment (Scrabble) a subsidiary company of the Company, from the existing equity shareholder of Scrabble at a total consideration of Rs.14.54 crore.

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Dolphin Offshore Enterprises (India) announces change in Chairman
May 18,2017

Dolphin Offshore Enterprises (India) announced the appointment of Sabyasachi Hajara as Chairman in place of Rear Admiral Kirpal Singh at board meeting held on 17 May 2017.

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Moodys Liquidity-Stress Index set to decline again in May; markets remain favorable to US spec-grade companies
May 18,2017

Moodys Liquidity-Stress Index (LSI) declined again through mid-May, extending its improving trend to just over a year, the rating agency says in its most recent edition of SGL Monitor. The index dipped to 4.6% in mid-May from 4.9% in April as US speculative-grade company liquidity positions continue to be bolstered by earnings and good access to credit markets.

Moodys Liquidity-Stress Index falls when corporate liquidity appears to improve and rises when it appears to weaken.

The LSI is benefiting from fundamental strengths, including steady-to-growing corporate earnings and strong investor appetite for yield, said Senior Vice President John Puchalla. Importantly, despite new issue volume easing in April from the first quarters blistering pace, new issuance continues at a healthy overall clip.

Thus far in May, upgrades of Moodys speculative-grade liquidity (SGL) ratings outpaced downgrades by six to one, Puchalla says. SGL rating activity reflects easing volatility, mainly as energy-related woes continue to ebb. With oil prices and production increasing, the fortunes of companies that supply the industry are also rebounding, including those of frack sand suppliers Fairmount Santrol and Hi-Crush Partners, which both saw their liquidity ratings upgraded to SGL-3 from SGL-4 in May.

Meanwhile, Moodys Covenant-Stress Index slipped to 3.2% in April from 3.5% in March. The index, which has been below its 5.8% long-term average since June last year, indicates that US speculative-grade companies continue to run a very low risk of violating their debt covenants.

Moodys forecasts that the US speculative-grade default rate will decline to 3.0% in April 2018 from 4.5% today, against a long-term average of 6.8%.

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Rajkumar Forge announces resignation of company secretary & compliance officer
May 18,2017

Rajkumar Forge announced the resignation of Shruti Khandelwal from the post of Company Secretary and Compliance Officer of the Company.

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Nucleus Software Exports partners with Essel Home Loans
May 18,2017

Nucleus Software Exports announced that Essel Home Loans, the new housing finance subsidiary of Essel Finance, has signed a deal for FinnOne Neo Cloud. This solution will facilitate end to end digitization of the entire loan lifecycle for Essel Home Loans.

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JK Lakshmi Cement tumbles after weak Q4 results
May 18,2017

The result was announced after market hours yesterday, 17 May 2017.

Meanwhile, the S&P BSE Sensex was down 143.94 points, or 0.47% to 30,514.83.

On the BSE, 15,000 shares were traded in the counter so far, compared with average daily volumes of 22,622 shares in the past one quarter. The stock had hit a high of Rs 504.95 and a low of Rs 478.55 so far during the day. The stock hit a record high of Rs 535 on 17 May 2017. The stock hit a 52-week low of Rs 326.75 on 21 November 2016.

The stock had outperformed the market over the past one month till 17 May 2017, rising 13.80% compared with 4.57% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 32.69% as against Sensexs 8.33% rise.

The mid-cap company has equity capital of Rs 58.84 crore. Face value per share is Rs 5.

JK Lakshmi Cement reported a net profit of Rs 82 crore in the year ended March 2017 compared with net loss of Rs 6.56 crore in the year ended March 2016. Net sales rose 11.1% to Rs 2910.41 crore in the year ended March 2017 over the year ended March 2016.

Meanwhile, the company said that its board approved raising upto Rs 500 crore by issuing securities, convertible/non-convertible, with or without warrant by any of public and/or private offerings and/or qualified institutions placement or any combination thereof, subject to requisite approval of the shareholders in the ensuing annual general meeting of the company.

JK Lakshmi Cement is a cement manufacturer. It caters to infrastructure and construction sectors.

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Hindustan Copper surges after reporting strong Q4 numbers
May 18,2017

The result was announced after market hours yesterday, 17 May 2017.

Meanwhile, the S&P BSE Sensex was down 146.56 points, or 0.48% at 30,512.51. The S&P BSE Mid-cap index was down 150.84 points, 1% at 14,926.13.

High volumes were witnessed on the counter. On the BSE, 8.37 lakh shares were traded on the counter so far as against the average daily volumes of 1.48 lakh shares in the past one quarter. The stock had hit a high of Rs 71.50 and a low of Rs 68.05 so far during the day.

The stock had hit a 52-week high of Rs 73.60 on 22 August 2016 and a 52-week low of Rs 42.30 on 24 May 2016. The stock had underperformed the market over the past one month till 17 May 2017, advancing 0.98% compared with the Sensexs 4.23% rise. The scrip had also underperformed the market over the past one quarter sliding 1.33% as against the Sensexs 7.69% rise.

The mid-cap company has equity capital of Rs 462.61 crore. Face value per share is Rs 5.

Hindustan Copper (HCL) is a vertically integrated copper producing company encompassing mining, beneficiation, smelting, refining and casting of refined copper metal. The Government of India holds 82.88% stake in Hindustan Copper (as per shareholding pattern as on 31 March 2017).

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Dilip Buildcon hits record high
May 18,2017

The result was announced after market hours yesterday, 17 May 2017.

Meanwhile, the S&P BSE Sensex was down 146.18 points or 0.48% at 30,512.59. The S&P BSE Mid-Cap index was down 139.72 points or 0.93% at 14,937.25.

On the BSE, 1.16 lakh shares were traded on the counter so far as against the average daily volumes of 46,625 shares in the past one quarter. The stock had hit a high of Rs 529.45 so far during the day, which is a record high. The stock hit a low of Rs 509 so far during the day.

The stock had hit a record low of Rs 178.60 on 9 November 2016. It had outperformed the market over the past one month till 17 May 2017, surging 22.82% compared with the Sensexs 4.23% rise. The scrip had also outperformed the market over the past one quarter, gaining 79.53% as against the Sensexs 7.69% rise.

The mid-cap company has equity capital of Rs 136.77 crore. Face value per share is Rs 10.

Dilip Buildcon is a road-focused engineering procurement construction (EPC) contractor. The company develops infrastructure across the country in diverse areas such as roads & bridges, water sanitation & sewage, irrigation, industrial, commercial & residential buildings.

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Kotak Mahindra Bank announces hike in foreign investment limit
May 18,2017

Kotak Mahindra Bank has intimated of increase in ceiling limit on the total shareholding of Foreign Institutional Investors (FIIs)/ Foreign Portfolio Investors (FPIs) from the current limit of 42% to 43%.

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Sicagen India soars after robust Q4 results
May 18,2017

The result was announced after market hours yesterday, 17 May 2017.

Meanwhile, the S&P BSE Sensex was down 117.83 points, or 0.38% to 30,540.94.

On the BSE, 1.26 lakh shares were traded in the counter so far, compared with average daily volumes of 84,749 shares in the past one quarter. The stock had hit a high of Rs 46.35 and a low of Rs 42.20 so far during the day. The stock hit a 52-week high of Rs 47.25 on 9 May 2017. The stock hit a 52-week low of Rs 17 on 2 June 2016.

The stock had outperformed the market over the past one month till 17 May 2017, rising 25.84% compared with 4.57% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 52.83% as against Sensexs 8.33% rise.

The small-cap company has equity capital of Rs 39.57 crore. Face value per share is Rs 10.

On a consolidated basis, Sicagen Indias net profit jumped 598.11% to Rs 7.40 crore on 18.34% rise in net sales to Rs 710.86 crore in the year ended March 2017 over the year ended March 2016.

Sicagen Indias core business is trading of building materials such as steel pipes and fittings, construction and structural steel, stainless steel sheets, pipes and fittings, cables, PVC/HDPE pipes and fittings and cement.

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United Breweries to pay dividend for FY 2017
May 18,2017

United Breweries announced that dividend for FY 2017 shall be paid on or before 24 October 2017.

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