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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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RIL declines after reports of govt slapping $264 million penalty
Aug 16,2017

Meanwhile, the S&P BSE Sensex was up 99.91 points or 0.32% at 31,548.94.

On the BSE, 1.19 lakh shares were traded on the counter so far as against the average daily volumes of 4.01 lakh shares in the past one quarter. The stock had hit a high of Rs 1,573 and a low of Rs 1,550.55 so far during the day. The stock had hit a record high of Rs 1,665 on 3 August 2017. The stock had hit a 52-week low of Rs 932 on 9 November 2016.

The stock had outperformed the market over the past one month till 14 August 2017, rising 2.75% compared with the Sensexs 1.79% decline. The stock had also outperformed the market over the past one quarter, gaining 16.46% as against the Sensexs 4.18% rise. The scrip had also outperformed the market over the past one year, rising 52% as against the Sensexs 11.71% rise.

The large-cap company has equity capital of Rs 3251.90 crore. Face value per share is Rs 10.

The government has reportedly disallowed Reliance Industries and partners to recover $264 million of cost of developing KG-D6 fields for 2015-16 as the output from the field fell short of the target.

Reliance and partners BP Plc and Niko Resources are engaged in an arbitration with the government over dispute related to the amount that can be recovered as cost before the profit could be shared from KG-D6 fields between the companies and the state. Companies contend that the contract doesnt provide for government disallowing cost for shortfall in targets.

The output from KG-D6 fields has remained far short of the targeted 80 million standard cubic metres a day (mmscmd) for years, and has now fallen to under 4 mmscmd. This has prompted the government to direct companies to not account for certain costs each year beginning April 2010.

Adding the $264 million disallowed as cost in 2015-16 to similar restrictions imposed in previous five years, the total cost recovery disallowed by the government comes to $3.02 billion. The government had disallowed $457 million of cost for 2010-11, $548 million for 2011-12, $792 million for 2012-13, $579 million for 2013-14 and $380 million for 2014-15. The amount for 2016-17 has not yet been calculated.

Disallowing such cost recovery results in enlarging the pie of profit available for sharing between the company and the government, report added.

RILs consolidated net profit rose 28.3% to Rs 9079 crore on 28.4% to Rs 83471 crore in Q1 June 2017 over Q1 June 2016.

RIL is Indias largest private sector company. RILs activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and telecommunications.

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Alexander Stamps And Coin recommends Bonus Issue
Aug 16,2017

The Board of Alexander Stamps And Coin at the meeting held on 14th August 2017 has recommended for the issue of fully paid bonus shares in the ratio of 1:5 (One new bonus equity share of Rs. 10/- each for every existing Five Equity Shares of Rs. 10/- each.).

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Omkar Speciality zooms after good Q1 earnings
Aug 16,2017

The result was announced after market hours on Monday, 14 August 2017.

Meanwhile, the S&P BSE Sensex was up 67.50 points, or 0.21% at 31,516.53. The S&P BSE Small-Cap index was up 80.10 points, or 0.53% at 15,172.72.

On the BSE, 74,000 shares were traded on the counter so far as against the average daily volumes of 87,272 shares in the past one quarter. The stock had hit a high of Rs 89.80 and a low of Rs 84 so far during the day. The stock had hit a record high of Rs 120.05 on 14 July 2017 and a 52-week low of Rs 63.13 on 9 November 2016.

The stock had underperformed the market over the past one month till 14 Aug 2017, declining 30.59% compared with the Sensexs 1.79% fall. The scrip had also underperformed the market over the past one quarter declining 13.28% as against the Sensexs 4.18% rise. The scrip had also underperformed the market over the past one year advancing 9.77% as against the Sensexs 11.71% rise.

The small-cap company has equity capital of Rs 20.58 crore. Face value per share is Rs 10.

Omkar Speciality Chemicals is primarily engaged in the manufacture and sale of specialty chemicals and intermediates for chemical and allied industries.

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Karur Vysya Bank appoints MD & CEO
Aug 16,2017

Karur Vysya Bank vide the Reserve Bank of Indias approval has appointed Shri P R Seshadri as Managing Director & Chief Executive Officer of the Bank for a period of 3 years from the date of his taking charge.

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Infibeam Incorporation fixes Record Date for stock split
Aug 16,2017

Infibeam Incorporation has fixed 1st September 2017 as the record date for the purpose of Annual General Meeting and Split of Shares.

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Jubilant FoodWorks hits 52-week high
Aug 16,2017

Meanwhile, the S&P BSE Sensex was up 36.67 points or 0.12% at 31,485.70. The S&P BSE Mid-Cap index rose 65.14 points or 0.43% at 15,157.76.

On the BSE, 91,000 shares were traded on the counter so far as against the average daily volumes of 87,735 shares in the past one quarter. The stock had hit a high of Rs 1,444 so far during the day which is a 52-week high. The stock hit a low of Rs 1,387.15 so far during the day. The stock had hit a 52-week low of Rs 761 on 26 December 2016.

The stock had outperformed the market over the past one month till 14 August 2017, advancing 8.34% compared with the Sensexs 1.79% fall. The stock had also outperformed the market over the past one quarter, gaining 38.57% as against the Sensexs 4.18% rise. The scrip had also outperformed the market over the past one year, advancing 57.52% as against the Sensexs 11.71% rise.

The mid-cap company has equity capital of Rs 65.98 crore. Face value per share is Rs 10.

As per reports, the foreign brokerage has also raised the target PE multiple on Jubilant FoodWorks to 60, from 55.

Jubilant FoodWorks net profit rose 25.5% to Rs 23.84 crore on 11.5% growth in net sales to Rs 678.82 crore in Q1 June 2017 over Q1 June 2016.

Jubilant FoodWorks is part of Jubilant Bhartia group and Indias largest food service company with a network of Dominos Pizza restaurants pan India. The company & its subsidiary have the exclusive rights to develop and operate Dominos Pizza brand in India, Sri Lanka, Bangladesh and Nepal. The company also has exclusive rights for developing and operating Dunkin Donuts restaurants for India.

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Global Infratech & Finance fixes record date for Consolidation
Aug 16,2017

Global Infratech & Finance has fixed 25th August 2017 as the Record Date for the purpose of Consolidation of Shares.

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Motilal Oswal Financial Services updates on acquisition
Aug 16,2017

Motilal Oswal Financial Services has been allotted 6,03,44,826 equity shares of Aspire Home Finance Coporation and the companys subsidiaries Motilal Securities Limited and Motilal Oswal Investment Advisors Limited were allotted 5,17,24, 141 and 6,03,44,826 equity shares respectively. Post allotment the Company along with its wholly owned subsidiaries MOSL and MOIAL collectively holds 96.62% in AHFCL.

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Granules India fixes record date for dividend
Aug 16,2017

Granules India has fixed 25th August 2017 as the record date for the purpose of payment of first interim dividend for the financial year 2017-18.

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Kolte-Patil Developers grows after divestment of land parcel
Aug 16,2017

The announcement was made after market hours on Monday, 14 August 2017. The market was shut on 15 August 2017 on account of holiday.

Meanwhile, the S&P BSE Sensex was up 27.31 points or 0.09% at 31,476.34. The S&P BSE Small-Cap index was up 111.31 points, or 0.72% at 15,520.51.

On the BSE, 13,641 shares were traded in the counter so far, compared with an average volume of 33,083 shares in the past one quarter. The stock had hit a high of Rs 169.90 and a low of Rs 164.95 so far during the day. The stock had hit a 52-week high of Rs 204 on 26 April 2017. The stock hit a 52-week low of Rs 78.75 on 27 December 2016.

The stock has jumped 14.13% in three sessions to its ruling price from a close of Rs 145.75 on 10 August 2017.

The stock had underperformed the market over the past one month till 14 August 2017, falling 4.79% compared with the Sensexs 1.79% decline. The stock had also underperformed the market over the past one quarter, declining 10.78% as against the Sensexs 4.18% rise. The scrip had, however, outperformed the market over the past one year, gaining 26.78% as against the Sensexs 11.71% rise.

The small-cap company has an equity capital of Rs 75.77 crore. Face value per share is Rs 10.

Kolte-Patil Developers said that the strategic sale has been undertaken after evaluating the overall feasibility and is in line with the companys strategy of maintaining a lean balance sheet. The company will continue to explore strategic partnerships under asset light models to enhance its overall portfolio and position the company for sustained growth.

On a consolidated basis, Kolte-Patil Developers net profit rose 33.8% to Rs 25.38 crore on 37.1% rise in net sales to Rs 246.56 crore in Q1 June 2017 over Q1 June 2016.

Kolte-Patil Developers incorporated in 1991 is a leading real estate company with dominant presence in the Pune residential market.

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Amrutanjan Health Care fixes record date
Aug 16,2017

Amrutanjan Health Care has fixed 14th September 2017 as the Record Date for the purpose of Final Dividend, if approved by the shareholders.

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Simplex Infra jumps after strong Q1 results
Aug 16,2017

The result was announced after market hours on Monday, 14 August 2017.

Meanwhile, the S&P BSE Sensex was up 56.26 points, or 0.18% at 31,505.29. The S&P BSE Small-Cap index was up 121.41 points, or 0.79% at 15,530.61.

On the BSE, 2,598 shares were traded on the counter so far as against the average daily volumes of 5,123 shares in the past one quarter. The stock had hit a high of Rs 500.15 and a low of Rs 483.90 so far during the day. The stock had hit a 52-week high of Rs 590 on 13 June 2017 and a 52-week low of Rs 260 on 27 December 2016.

The stock had underperformed the market over the past one month till 14 Aug 2017, declining 11.55% compared with the Sensexs 1.79% fall. The scrip had, however, outperformed the market over the past one quarter advancing 14.05% as against the Sensexs 4.18% rise. The scrip had also outperformed the market over the past one year advancing 56.59% as against the Sensexs 11.71% rise.

The small-cap company has equity capital of Rs 9.89 crore. Face value per share is Rs 2.

Simplex Infrastructures earnings before interest, tax, depreciation and amortization (EBITDA) increased by 7% to Rs 198 crore in Q1 June 2017 over Q1 June 2016.

Simplex Infrastructures is the largest pure play civil construction & engineering contractors in India.

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Unitech advances as net loss narrows in Q1
Aug 16,2017

The result was announced after market hours on Monday, 14 August 2017.

Meanwhile, the S&P BSE Sensex was up 51.56 points or 0.16% at 31,500.59. The S&P BSE Small-Cap index rose 111.85 points or 0.73% at 15,521.05.

On the BSE, 24.56 lakh shares were traded on the counter so far as against the average daily volumes of 96 lakh shares in the past one quarter. The stock had hit a high of Rs 8.35 and a low of Rs 7.88 so far during the day. The stock had hit a 52-week high of Rs 9.87 on 26 July 2017 and a 52-week low of Rs 3.89 on 29 December 2016.

The stock had outperformed the market over the past one month till 14 August 2017, advancing 3.01% compared with the Sensexs 1.79% fall. The stock had also outperformed the market over the past one quarter, gaining 40.21% as against the Sensexs 4.18% rise. The scrip had also outperformed the market over the past one year, advancing 28.13% as against the Sensexs 11.71% rise.

The small-cap company has equity capital of Rs 523.26 crore. Face value per share is Rs 2.

Unitechs consolidated net sales fell 17.4% to Rs 402.78 crore in Q1 June 2017 over Q1 June 2016.

Unitech is one of Indias leading real estate players. It has a diversified product mix in real estate comprising of commercial complexes, IT/ITes parks, special economic zones (SEZs), integrated residential developments, schools, hotels, malls, golf courses and amusement parks.

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Pix Transmission to table results
Aug 16,2017

Pix Transmission will hold a meeting of the Board of Directors of the Company on 12 September 2017.

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Oasis Securities to convene board meeting
Aug 16,2017

Oasis Securities will hold a meeting of the Board of Directors of the Company on 14 August 2017.

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