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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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Shares of Vishvesham Investments & Trading get listed
Mar 24,2017

The equity shares of Vishvesham Investments & Trading (Scrip Code: 540385) are listed effective 24 March 2017 and admitted to dealings on the Exchange in the list of XT Group Securities

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Tata Power Company announces cessation of director
Mar 24,2017

Tata Power Company announced the cessation of Ashok Basu as an Independent Director from the Companys Board upon completion of 75 years of age, as per the guidelines adopted by the Company for retirement of Non-Executive Directors, effective 24 March 2017.

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Steps taken for revival of Ratnagiri Gas and Power Limited
Mar 24,2017

Ratnagiri Gas and Power Pvt. Limited (RGPPL) has started generation of power under the scheme of Utilization of gas based power generation capacity for the year 2015-16 and 2016-17. Total Debt of RGPPL is approximately Rs. 8906 Crs. Railways have agreed to continue to purchase 500 MW power from RGPPL power plant w.e.f 01.04.2017 for a period of five years. Govt. of Maharashtra has agreed, in principle, for granting waiver of State transmission charges and transmission losses and also waiver of VAT on gas purchase by the RGPPL.

Government has taken following steps for revival of RGPPL:

(i) Decided to demerge the Power Block and Liquefied Natural Gas (LNG) terminal into two separate entities.

(ii) Banks/Financial Institutions have agreed to restructure the debt.

(iii) Gas supply to RGPPL at a firm price for the five year period has been agreed by GAIL.

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Bharti Airtel moves higher on pact to acquire Tikonas 4G biz
Mar 24,2017

The announcement was made after market hours yesterday, 23 March 2017.

Meanwhile, the S&P BSE Sensex was up 43.85 points or 0.15% at 29,376.01.

On the BSE, 60,000 shares were traded on the counter so far as against the average daily volumes of 17.89 lakh shares in the past two weeks. The stock had hit a high of Rs 348 and a low of Rs 341.15 so far during the day.

The stock had hit a 52-week high of Rs 400.65 on 23 February 2017 and a 52-week low of Rs 283.95 on 9 November 2016. The stock had underperformed the market over the past one month till 23 March 2017, sliding 7.55% compared with the Sensexs 1.52% rise. The scrip had, however, outperformed the market over the past one quarter, gaining 14.52% as against the Sensexs 12.64% rise.

The large-cap company has equity capital of Rs 1998.70 crore. Face value per share is Rs 5.

Bharti Airtel announced that it has entered into a definitive agreement with Tikona Digital Networks (Tikona) to acquire Tikonas 4G business including broadband wireless access (BWA) spectrum and 350 sites, in five telecom circles for about Rs 1600 crore. The acquisition will be funded in the way of cash and debt.

The indicative time period for the completion of the acquisition is up to 60 days. Airtel plans to roll-out high speed 4G services on the newly acquired spectrum in the five circles immediately after the closure of the transaction.

Bharti Airtels consolidated net profit fell 54.5% to Rs 503.70 crore on 3% decline in net sales to Rs 23335.70 crore in Q3 December 2016 over Q3 December 2015.

Bharti Airtel is a leading global telecommunications company with operations in 17 countries across Asia and Africa.

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Siemens rises after winning order
Mar 24,2017

The announcement was made after market hours yesterday, 23 March 2017.

Meanwhile, the S&P BSE Sensex was up 51.25 points, or 0.17% to 29,383.41.

On the BSE, 2,798 shares were traded in the counter so far, compared with average daily volumes of 24,489 shares in the past one quarter. The stock had hit a high of Rs 1,255 and a low of Rs 1,239.55 so far during the day.

The stock hit a 52-week high of Rs 1,355.40 on 25 July 2016. The stock hit a 52-week low of Rs 1,011 on 9 November 2016.

The stock had outperformed the market over the past one month till 23 March 2017, 1.95% compared with 1.62% rise in the Sensex. The scrip had also outperformed the market in past one quarter, 15.71% as against Sensexs 12.64% rise.

The large-cap company has equity capital of Rs 71.22 crore. Face value per share is Rs 2.

Siemens said the project includes construction of new 33/11 kV Air Insulated Switchgear substations in Dhaka, Chittagong and Sylhet. Bangladesh Rural Electrification Board (BREB) is an electricity distribution provider under the Government of Bangladesh responsible for providing electricity to the rural parts of Bangladesh. All the products and solutions delivered for the project have been manufactured in factories at Siemens India.

Siemens net profit rose 43.8% to Rs 160.01 crore on 1.4% decline in net sales to Rs 2234.38 crore in Q1 December 2016 over Q1 December 2015.

Siemens focuses on the areas of electrification, automation and digitalization. As on 31 December 2016, Siemens AG held 75% stake in Siemens.

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Bharti Airtel in focus on pact to acquire Tikonas 4G biz
Mar 24,2017

Bharti Airtel announced that it has entered into a definitive agreement with Tikona Digital Networks (Tikona) to acquire Tikonas 4G business including broadband wireless access (BWA) spectrum and 350 sites, in five telecom circles for about Rs 1600 crore.

The acquisition will be funded in the way of cash and debt. The indicative time period for the completion of the acquisition is up to 60 days. Airtel plans to roll-out high speed 4G services on the newly acquired spectrum in the five circles immediately after the closure of the transaction. The announcement was made after market hours yesterday, 23 March 2017.

BPCL announced that the board of directors have declared second interim special dividend of Rs 12 per share for the year ending 31 March 2017 (FY 2017). The board fixed 27 March 2017 as record date to determine the eligibility of the shareholders to receive the second interim special dividend. The announcement was made after market hours yesterday, 23 March 2017.

Yes Bank announced that its capital raising committee yesterday, 23 March 2017, passed resolutions approving and adopting the preliminary placement document dated 23 March 2017, in connection with the qualified institutional placement (QIP) and authorizing the opening of the QIP on 23 March 2017. The floor price for the QIP is fixed at Rs 1,498.95 per equity share.

The bank may at its discretion offer a discount of up to 5% on the floor price in the QIP. The capital raising committee of the board of directors of the bank on 29 March 2017, would consider and determine the price for equity share of the bank to be issued in the QIP. The announcement was made after market hours yesterday, 23 March 2017.

Siemens announced that it has won an order worth about Rs 187.4 crore from Bangladesh Rural Electrification Board (BREB), Dhaka. The project includes construction of new 33/11 kV Air Insulated Switchgear substations in Dhaka, Chittagong and Sylhet. BREB is an electricity distribution provider under the Government of Bangladesh responsible for providing electricity to the rural parts of Bangladesh.

All the products and solutions delivered for the project have been manufactured in factories at Siemens India. The announcement was made after market hours yesterday, 23 March 2017.

Adani Power said it has allotted 1.73 crore equity shares upon partial conversion of the convertible warrants as earlier allotted on preferential basis to promoter group entities. The shares were allotted at Rs 32.54 per share. Subsequent to this allotment, the shareholding of the promoter and promoter group has increased to 68.08% of the enhanced paid up equity share capital of the company. The announcement was made after market hours yesterday, 23 March 2017.

Can Fin Homes announced that the board of directors of the company at a meeting held on 23 March 2017 renewed/revalidated the approval/authorizations for borrowing upto Rs 3000 crore by way of issue of non-convertible debentures on private placement basis. The announcement was made after market hours yesterday, 23 March 2017.

Himachal Futuristic Communications announced that the meeting of the debentures allotment committee of the board of directors will be held on 28 March, 2017 to consider and approve the allotment of non-convertible debentures (NCDs) aggregating to Rs 29.49 crore on private placement basis by way of conversion of outstanding right of recompense amount payable to the banks. The announcement was made after market hours yesterday, 23 March 2017.

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Khemani Distributors & Marketing announces resignation of company secretary and compliance officer
Mar 23,2017

Khemani Distributors & Marketing announced that Nilesh Kalsariya has resigned from the post of Company Secretary and Compliance Officer of the Company with effect from 23 March 2017.

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Ujaas Energy receives order from Indraprastha Power Generation Co.
Mar 23,2017

Ujaas Energy has received an order from Indraprastha Power Generation Co. for implementation of Grid connected Rooftop Solar PV System of 669 Kwp under Capex Model in selected GNCTD schools & schools and other Govt. Buildings in Delhi.

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Centralised Digital Online Platform VAHAN and SARATHI to Curb Corruption
Mar 23,2017

The Provisions regarding issue of learners licence and driving licence are contained in Chapter II of Motor Vehicles Act, 1988(MV Act) and Chapter II of Central Motor Vehicles Rules, 1989(CMVRs). The Ministry of Road Transport and Highways has introduced online based citizen centric application VAHAN 4.0 and SARATHI 4.0 under digitization to ease out the processes and curb corruption. 85 Road Transport offices under VAHAN4.0 and 235 Road Transport offices under SARATHI 4.0 have been brought to the centralised platform. Implementation of provisions of Motor Vehicles Act, 1988 (MV Act) and Central Motor Vehicles Rules, 1989 (CMVRs) comes under the purview of State Governments. Further, Ministry has issued notification GSR 1096(E) dated 28.11.2016 vide which fitness certificate for renewal of a motor vehicle can be obtained from a State/Union territory other than the State/Union territory where the vehicle is registered.

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Yes Bank launches QIP issue
Mar 23,2017

Yes Bank announced that the Capital Raising Committee of the Bank has on 23 March 2017 transacted the following -

Approved and adopted the preliminary placement document dated 23 March 2017 in connection with the QIP,

Authorised the opening of QIP on 23 March 2017

Fixed the floor price at Rs 1498.95 per equity share.

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Aryaman Financial Services provides update on subsidiary
Mar 23,2017

Aryaman Financial Services announced that its subsidiary- Escorp Asset Management is coming with Initial Public Offering of 21.60 lakh equity shares at fixed price of Rs 15 per share. The IPO issue opens on 31 March 2017 and closed on 06 April 2017.

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Adani Power allots 1,73,72,381 equity shares
Mar 23,2017

Adani Power has allotted 1,73,72,381 equity shares of Rs 10 each upon partial conversion of convertible warrants to promoter group entities.

Up on allotment of these shares, the total paid up equity share capital has increased to 3,85,69,38,941 equity shares of Rs 10 each aggregating Rs 3856.93 crore and shareholding of promoter and promoter group has increased to 68.08%.

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Saregama India announces demise of director
Mar 23,2017

Saregama India announced that Pradipta. Kr. Mohapatra, Director of the Company has expired on 13 March 2017.

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SKF India fixes record date for buyback of shares
Mar 23,2017

SKF India has fixed 07 April 2017 as record date for buyback of shares of the Company.

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Shares of Intense Technologies get listed on NSE
Mar 23,2017

Shares of Intense Technologies get listed on National Stock Exchange from 23 March 2017 under INTENTECH ticker.

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