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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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Himachal Futuristic Communications to announce Q2 and HY results
Nov 18,2016

Himachal Futuristic Communications announced that a meeting of the Board of Directors of the Company will be held on 28 November 2016, inter alia, to consider and approve; the Un-audited Standalone as well as Consolidated Financial Results of the Company for the second quarter and half year ended 30 September 2016.

Further, the Board will also consider the declaration of first interim dividend on Cumulative Redeemable Preference shares (CRPS) for financial year 2016-2017.

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Punj Lloyd lights up after subsidiary signs agreements to co-develop solar assets
Nov 18,2016

The announcement was made after market hours yesterday, 17 November 2016.

Meanwhile, the BSE Sensex was down 42.47 points, or 0.16%, to 26,185.15.

On BSE, so far 1.2 lakh shares were traded in the counter, compared with average daily volume of 8.5 lakh shares in the past one quarter. The stock hit a high of Rs 19.75 and a low of Rs 19.35 so far during the day. The stock hit a 52-week high of Rs 31.65 on 5 January 2016. The stock hit a record low of Rs 16.90 on 9 November 2016. The stock underperformed the market over the past one month till 17 November 2016, sliding 14.89% compared with 4.73% decline in the Sensex. The scrip, however, outperformed the market in past one quarter, remaining unchanged as against Sensexs 6.35% decline.

The small-cap company has equity capital of Rs 66.42 crore. Face value per share is Rs 2.

Punj Lloyd said that its wholly-owned subsidiary, Punj Lloyd Infrastructure (PLIL), has executed definitive agreements with India Power Green Utility (IPGUPL) to co-develop 30 megawatts (MW) of solar assets in Uttarakhand. The agreements are in respect of three solar power projects, each of 10 MW capacity won by PLIL under the tariff based competitive bidding process in October 2015 to be executed by its wholly owned subsidiaries (WOS) namely, PL Surya Vidyut, PL Sunrays Power, and PL Solar Renewable.

As per the transaction, PLIL will divest 49% of its shareholding in its three subsidiaries viz. PL Surya Vidyut, PL Sunrays Power and PL Solar Renewable. The special purpose vehicles (SPVs) have signed 25 years power purchase agreements with Uttarakhand Power Corporation. The company shall be responsible for the entire engineering, procurement and commissioning of the above projects. The transaction is expected to be completed once customary closing conditions and approvals are obtained.

Punj Lloyd reported net loss of Rs 211.39 crore in Q1 June 2016, lower than net loss of Rs 581.84 crore in Q1 June 2015. Net sales rose 36% to Rs 887.57 crore in Q1 June 2016 over Q1 June 2015.

Punj Lloyd is a diversified international conglomerate offering engineering procurement construction (EPC) services in energy and infrastructure along with engineering and manufacturing capabilities in the defence sector.

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Board of IP Rings to consider September quater results
Nov 18,2016

IP Rings announced that a Meeting of the Board of Directors of the Company will be held on 07 December 2016, to consider and take on record the Un-audited Financial Results of the Company for the quarter ended 30 September 2016.

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RIL gains after forming global partnership with GE
Nov 18,2016

The announcement was made after market hours yesterday, 17 November 2016.

Meanwhile, the BSE Sensex was down 19.85 points, or 0.08%, to 26,207.77.

On BSE, so far 27,200 shares were traded in the counter, compared with average daily volume of 4.15 lakh shares in the past one quarter. The stock hit a high of Rs 988.25 and a low of Rs 982.90 so far during the day. The stock hit a 52-week high of Rs 1,128.90 on 26 September 2016. The stock hit a 52-week low of Rs 888.50 on 12 February 2016. The stock underperformed the market over the past one month till 17 November 2016, sliding 7.44% compared with 4.73% decline in the Sensex. The scrip, however, outperformed the market in past one quarter, falling 3.22% as against Sensexs 6.35% decline.

The large-cap company has equity capital of Rs 3243.25 crore. Face value per share is Rs 10.

Reliance Industries (RIL) announced the signing of a global partnership agreement in the Industrial IOT (IIOT) space whereby RIL and GE will work together to build out joint applications on GEs Predix platform. The partnership marks the coming together of two of the worlds largest industrial conglomerates to provide Industrial IOT solutions to customers in oil & gas, fertilizer, power, healthcare, telecom and other industries.

GE, the worlds digital industrial company will provide its Predix cloud offering, Industrial Internet applications and data science expertise. RIL will develop solutions on Predix as an Independent Software Vendor (ISV), bringing to bear its over 30 years of data, process and operational expertise. RIL will also offer nationwide connectivity infrastructure to customers through a 4G network powered by Jio. GE would offer the security, availability and monitoring aspects of the platform to RIL and its customers. The potential for other revenue streams includes telecom, healthcare and agriculture. . According to Gartner, there exists a market opportunity of over $25 billion by 2022 for IIoT solutions across the four key industries of oil & gas, power, healthcare and transportation.

Reliance Industries consolidated net profit fell 22.9% to Rs 7206 crore on 8.3% increase in net sales to Rs 76161 crore in Q2 September 2016 over Q2 September 2015.

RIL is a diversified firm having presence in oil exploration, petrochemicals, retail and telecom sectors.

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Oberoi Realty allots equity shares
Nov 18,2016

Oberoi Realty announced that the Directors of the Company vide a resolution passed by-circulation on 17 November 2016 have allotted 30,383 Equity Shares of Rs. 10/- each to certain Option Grantee(s) pursuant to exercise by them of the Options granted to them under the Companys Employee Stock Option Scheme 2009 (ESOP 2009). The Exercise Price for the said Options is Rs. 260 per share.

Post the aforesaid allotment, the Equity Share Capital of the Company stands increased to 33,94,16,633 equity shares of Rs. 10/- each aggregating to Rs. 3,39,41,66,330.

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Tata Communications collaboration wins 2016 MEF Excellence Award
Nov 18,2016

Tata Communications announced that the Company along with Comcast Business, ECI, Sparkle and Viavi Solutions have collectively won one of two 2016 MEF Excellence Award for its Third Network Proof of Concept innovation. The companies collaborated on an orchestrated,multi-carrier, multi-platform demonstration as part of the Proof of Concept (PoC) Showcase at MEF16, November 7-9 in Baltimore, Maryland.

This award-winning collaboration was designed to showcase how a customer could gain access to flexible bandwidth and applications on-demand without human intervention - enabling unprecedented levels of network control for new and evolving types of cloud-centric applications,for network connectivity services within current network architectures as well as emerging SDN and NFV implementations. For service providers, additional upsides include the drastic reduction of service turn-up time.

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Astral Poly inches up after good Q2 outcome
Nov 18,2016

The announcement was made after market hours yesterday, 17 November 2016.

Meanwhile, the S&P BSE Sensex was down 37.47 points, or 0.14%, to 26,190.15

On BSE, so far 1,897 shares were traded in the counter, compared with an average daily volume of 12,101 shares in the past one quarter. The stock hit a high of Rs 415 and a low of Rs 397.45 so far during the day. The stock hit a 52-week high of Rs 526.35 on 27 July 2016. The stock hit a 52-week low of Rs 334.05 on 29 February 2016.

The mid-cap company has an equity capital of Rs 11.98 crore. Face value per share is Re 1.

Astral Poly Techniks consolidated earnings before interest, taxation, depreciation and amortization (EBITDA) rose 8.24% to Rs 565 crore in Q2 September 2016 over Q2 September 2015.

Astral Poly Technik is a diversified manufacturer of building products in India. Its piping product portfolio consists of plumbing, drainage, agriculture, industrial, fire sprinkler and electrical piping systems. Astrals adhesive product portfolio consists of construction chemicals, maintenance, wood care and automotive adhesives.

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PGCIL Seeks US$ 1,000 Million Loan for Green Energy Corridor From ADB
Nov 18,2016

Power Grid Corporation of India (PGCIL) has sought a loan assistance of US$ 1,000 million from the Asian Development Bank (ADB) comprising of Sovereign guaranteed loan of US$ 500 million and Non-Sovereign loan of US$ 500 million.

The Loan would be utilized for funding of the following transmission projects including a project under Green Energy Corridor projects in next 3-4 years:

(i) HVDC Bipole link between Western Region (Raigarh, Chhattisgarh) and Southern Region (Pugalur, Tamil Nadu) - North Trichur (Kerala) - Scheme 1: Raigarh-Pugalur 6000 MW HVDC System.

(ii) HVDC Bipole link between Western Region (Raigarh, Chhattisgarh) and Southern Region (Pugalur, Tamil Nadu) - North Trichur (Kerala)- Scheme 3: Pugalur- Trichur 2000 MW VSC based HVDC System.

(iii) Real Time Measurement/ monitoring scheme.

(iv) Inter State Transmission System (ISTS) associated with Green Energy Corridor as under:

a) Ajmer(New) - Bikaner (New) 765 kV D/c

b) Bikaner(New) - Moga (PG) 765 kV D/c

c) LILO of one circuit of 400kV Bhadla- Bikaner (RVPN) line at Bikaner(New)

d) Establishment of 2x1500 MVA, 765/400 kV S/s at Bikaner (New)

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Mcleod Russel India gets reaffirmation of credit ratings for CP programme
Nov 18,2016

Mcleod Russel India announced that ICRA by their letter dated 17 November 2016 has revalidated / confirmed the rating [ICRA]A1+ (pronounced as ICRA A one plus) for Commercial Paper Programme of Rs 300 crore of the Company.

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India Home Loan announces resignation of directors
Nov 18,2016

India Home Loan announced that the Company is in receipt of resignation letters of Promoter Directors Anant Bhalotia and Rishabh Siroya from the Board of Directors of the Company. The Board by way of circulation accepted the resignation with effect from 17 November 2016.

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Max Ventures provides update on subsidiary - Max Speciality Films
Nov 18,2016

Max Ventures and Industries announced that Jaideep Wadhwa, Chief Executive Officer of Max Speciality Films (MSF), which is a subsidiary of the Company, vide an email dated 15 November 2016 has submitted his resignation from the services of the Company, to pursue other career interests. The Board of Directors of MSF has put in place an interim governance structure, inter-alia, by constituting a Management Committee consisting Senior Executive of MSF and the Company, for smooth transition and day-to-day affairs of MSF to achieve its business objective.

Max Ventures and Industries presently hold 99% equity share capital of MSF.

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HealthCare Global Enterprises provides update on subsidiaries
Nov 18,2016

HealthCare Global Enterprises announced that it is proposed to merge DKR Healthcare, a subsidiary of BACC Health Care, with BACC Health Care, being subsidiaries of the Company.

BACC Health Care is a direct subsidiary of the Company and DKR Healthcare is a wholly owned subsidiary of BACC Health Care.

The Board of Directors of the respective companies have approved the scheme of amalgamation for the merger of these companies.

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Astral Poly Technik to pay interim dividend
Nov 18,2016

Astral Poly Technik announced that interim dividend will be paid before 10 December 2016.

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Tata Power Company announces cessation fo director
Nov 18,2016

Tata Power Company announced about the expiry of term of office of Piyush G. Mankad, an Independent Director on the Companys Board, consequent upon his completing 75 years of age, as required by the guidelines adopted by the Company for retirement of Non-Executive Directors. Consequently, he has ceased to be a member of the Companys Board effective 18 November 2016.

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Dilip Buildcons JV awarded project at Nigahi OCP
Nov 18,2016

Dilip Buildcon announced that Northern Coalfields (M.P) has declared DBL-DECO (a joint venture of the Company) as the successful bidder (L1) for Excavation of Overburden of First Dig (Solid) and Re-handling by Mechnical Means at specified places at NIGAHI OCP of NCL at a project cost of Rs 1469.84 crore having Average lead 5.00km and quantity (BCM) completion 132460000 (the project).

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