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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 jumps on bargain hunting
Jul 05,2017

Meanwhile, the S&P BSE Sensex was up 33.93 points, or 0.11% to 31,243.72.

On the BSE, 1.02 crore shares were traded in the counter so far, compared with average daily volumes of 92.95 lakh shares in the past one quarter. The stock had hit a high of Rs 21.35 and a low of Rs 19.45 so far during the day. The stock hit a 52-week high of Rs 23.42 on 29 June 2017. The stock hit a 52-week low of Rs 6.71 on 25 November 2016.

The stock had outperformed the market over the past one month till 4 July 2017, rising 52.55% compared with 0.32% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 36.88% as against Sensexs 4.12% rise. The scrip had also outperformed the market in past one year, rising 67.38% as against Sensexs 14.88% rise.

The mid-cap company has equity capital of Rs 486.49 crore. Face value per share is Rs 2.

Shares of Jaiprakash Associates fell 14.32% in three trading sessions to settle at Rs 19.45 yesterday, 4 July 2017, from its close of Rs 22.70 on 29 June 2017.

Jaiprakash Associates reported net loss of Rs 1882.40 crore in Q4 March 2017 as against net loss of Rs 1387.30 crore in Q4 March 2016. Net sales declined 9.2% to Rs 1720.45 crore in Q4 March 2017 over Q4 March 2016.

Jaiprakash Associates is a diversified infrastructure company.

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Punjab Alkalies & Chemicals announces change in directorate
Jul 05,2017

Punjab Alkalies & Chemicals announced following changes in directorate -

Appointment of Rakesh Kumar Verma as Director & Chairman with effect from 30 June 2017.

Cessation of D P Reddy as Chairman & Director on the Board of the Company with effect from 30 June 2017.

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McNally Bharat Engineering surges after new order win
Jul 05,2017

The announcement was made after market hours yesterday, 4 July 2017.

Meanwhile, the S&P Sensex was up 41.22 points or 0.13% at 31,251.01. The S&P Small-Cap index was up 116.03 points or 0.75% at 15,682.96.

On the BSE, 53,000 shares were traded on the counter so far as against the average daily volumes of 1.28 lakh shares in the past one quarter. The stock had hit a high of Rs 60 and a low of Rs 57.20 so far during the day. The stock had hit a 52-week high of Rs 79.30 on 9 September 2016 and a 52-week low of Rs 37.60 on 22 November 2016.

The small-cap company has equity capital of Rs 53.59 crore. Face value per share is Rs 10.

McNally Bharat Engineering Company said that the company has received an order for construction of entry/exit structure of Elamkulam station and balance works in the main station building at Elamkulam from Delhi Metro Rail Corporation for a value of Rs 43.49 crore (approximately).

McNally Bharat Engineering Company reported net profit of Rs 483.92 crore in Q4 March 2017, as compared with net loss of Rs 78.05 crore in Q4 March 2016. Net sales fell 8.6% to Rs 689.47 crore in Q4 March 2017 over Q4 March 2016.

McNally Bharat Engineering Company is a engineering company engaged in providing turnkey solutions in the areas of power, steel, aluminum, material handling, mineral beneficiation, pyroprocessing, pneumatic handling of powdered materials including fly ash handling and high concentrate disposal, coal washing, port cranes, cement, oil & gas, civic and industrial water supply etc.

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Kirloskar Industries announces change in directorate
Jul 05,2017

Kirloskar Industries announced the following change in directorate as under -

Vinesh Kumar Jairath (holding DIN 00391684) and Ashit Parekh (holding DIN 00821577), have been co-opted as Additional Independent Directors of the Company with effect from 4 July 2017.

Pursuant to the applicable provisions of the Companies Act, 2013, the Board of Directors of the Company has approved the appointment of Mahesh Chhabria (holding DIN 00166049), as the Managing Director of the Company, for a period of 5 (five) years with effect from 4 July 2017, subject to the approval of the members of the Company. Consequently, he ceased to be an Independent Director.

The Board of Directors has also approved the appointment of Mahesh Chhabria, Managing Director of the Company, as the Key Managerial Personnel of the Company with effect from 4 July 2017.

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KPIT Technologies to hold board meeting
Jul 05,2017

KPIT Technologies will hold a meeting of the Board of Directors of the Company on 19 July 2017.

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Ind-Agiv Commerce to hold board meeting
Jul 05,2017

Ind-Agiv Commerce will hold a meeting of the Board of Directors of the Company on 10 July 2017.

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Monnet Ispat & Energy to hold board meeting
Jul 05,2017

Monnet Ispat & Energy will hold a meeting of the Board of Directors of the Company on 11 July 2017.

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Bhansali Engineering Polymers to hold board meeting
Jul 05,2017

Bhansali Engineering Polymers will hold a meeting of the Board of Directors of the Company on 14 July 2017.

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SRS to hold board meeting
Jul 05,2017

SRS will hold a meeting of the Board of Directors of the Company on 12 July 2017.

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Colgate-Palmolive (India) to hold board meeting
Jul 05,2017

Colgate-Palmolive (India) will hold a meeting of the Board of Directors of the Company on 3 August 2017.

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EIH to hold board meeting
Jul 05,2017

EIH will hold a meeting of the Board of Directors of the Company on 1 August 2017.

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Jubilant Life Sciences to hold board meeting
Jul 05,2017

Jubilant Life Sciences will hold a meeting of the Board of Directors of the Company on 18 July 2017.

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Global Infratech & Finance to hold board meeting
Jul 05,2017

Global Infratech & Finance will hold a meeting of the Board of Directors of the Company on 12 July 2017.

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Hybrid Financial Services to hold board meeting
Jul 05,2017

Hybrid Financial Services will hold a meeting of the Board of Directors of the Company on 21 July 2017.

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Bajaj Corp to hold board meeting
Jul 05,2017

Bajaj Corp will hold a meeting of the Board of Directors of the Company on 12 July 2017.

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