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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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V-Mart Retail gets revision in credit ratings
Mar 15,2017

V-Mart Retail announced that ICRA has revised the credit ratings for bank facilities as follows -

Long term bank facilities - ICRA A+; Stable (Revised from ICRA A+; Stable)

Short term bank facilities - ICRA A1+ (Revised from ICRA A1)

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PVR leads losers on BSEs A group
Mar 15,2017

PVR declined 5.55% at Rs 1,369.80. The stock topped the losers in A group. On the BSE, 19,000 shares were traded on the counter so far as against the average daily volumes of 39,000 shares in the past two weeks.

Bajaj Electricals fell 2.24% at Rs 308.25. The stock was the second biggest loser in A group. On the BSE, 89,000 shares were traded on the counter so far as against the average daily volumes of 2.07 lakh shares in the past two weeks.

Polaris Consulting & Services slipped 1.82% at Rs 180.95. The stock was the third biggest loser in A group. On the BSE, 10,000 shares were traded on the counter so far as against the average daily volumes of 87,000 shares in the past two weeks.

TCS skid 2.26% at Rs 2,504.45. The stock was the fourth biggest loser in A group. On the BSE, 35,000 shares were traded on the counter so far as against the average daily volumes of 1.18 lakh shares in the past two weeks.

Infosys slipped 2.17% at Rs 1,012.50. The stock was the fifth biggest loser in A group. On the BSE, 56,000 shares were traded on the counter so far as against the average daily volumes of 1.39 lakh shares in the past two weeks.

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Bhel gains after plant kicks off operation
Mar 15,2017

The announcement was made during trading hours today, 15 March 2017.

Meanwhile, the S&P BSE Sensex was down 15.23 points, or 0.05% to 29,427.40.

On the BSE, 6.31 lakh shares were traded in the counter so far, compared with average daily volumes of 7.74 lakh shares in the past one quarter. The stock had hit a high of Rs 166.60 so far during the day, which is also a 52-week high for the counter. The stock had hit a low of Rs 161.45 so far during the day. The stock hit a 52-week low of Rs 105.10 on 15 March 2016.

The stock had outperformed the market over the past one month till 14 March 2017, rising 4.03% compared with 3.85% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 28.91% as against Sensexs 10.67% rise.

The large-cap company has equity capital of Rs 489.52 crore. Face value per share is Rs 2.

Bharat Heavy Electricals (Bhel) said it has commenced commercial operation of its first 800 megawatts (MW) unit - highest-rating coal-based supercritical thermal power plant. The milestone was achieved for the first unit of the 2x800 MW Yeramarus thermal power station of Raichur Power Corporation (RPCL), in Raichur district of Karnataka.

Significantly, the commercial operation of this unit also marks Bhels foray as a developer into the field of power generation. Karnataka Power Corporation (KPCL) and Bhel are the main equity partners of RPCL, the owner and operator of this power plant.

Bhel did complete design, engineering, manufacture, supply, erection and commissioning of this state-of-the-art supercritical project on turnkey basis. It has supplied all the critical equipment like boiler, turbine & generators, electricals, key packages of Balance of Plant, and has also carried out the associated civil works. The major equipment for the project has been manufactured by BHEL at its Haridwar, Trichy, Bhopal, Ranipet, Hyderabad, Jhansi, Thirumayam and Bengaluru plants, while the construction of the plant was undertaken by the companys Power Sector- Southern Region.

Bhel has supplied and executed 4,010 MW of coal based sets for KPCL and its joint ventures, which account for 95% of the utilitys coal-based installed capacity. BHEL is also presently executing KPCLs first gas-based combined cycle power project of 370 MW capacity involving a fuel-efficient advanced-class gas turbine at Yelahanka, Bengaluru.

Bhel reported net profit of Rs 93.54 crore in Q3 December 2016 as against net loss of Rs 1084.96 crore in Q3 December 2015. Net sales rose 18.3% to Rs 6187.48 crore in Q3 December 2016 over Q3 December 2015.

Bhel is an integrated power plant equipment manufacturer and one of the largest engineering and manufacturing company of its kind in India engaged in the design, engineering, manufacture, construction, testing, commissioning and servicing of a wide range of products and services for core sectors of the economy, viz. power, transmission, industry, transportation (railways), renewable energy, oil & gas, water and defence with over 180 products offerings to meet the needs of these sectors. The Government of India currently holds 63.06% stake in Bhel (as per the shareholding pattern as on 31 December 2016).

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Bank of Baroda moves higher as board approves fund raising
Mar 15,2017

The announcement was made after market hours yesterday, 14 March 2017.

Meanwhile, the S&P Sensex was down 14.11 points or 0.05% at 29,428.52.

On the BSE, 7.11 lakh shares were traded on the counter so far as against the average daily volumes of 9.48 lakh shares in the past one quarter. The stock had hit a high of Rs 167.70 and a low of Rs 160.60 so far during the day.

The stock had hit a 52-week high of Rs 191.65 on 6 February 2017 and a 52-week low of Rs 128.40 on 24 May 2016. The stock had underperformed the market over the past one month till 14 March 2017, declining 4.65% compared with the Sensexs 3.89% rise. The scrip had also underperformed the market over the past one quarter advancing 1.74% as against the Sensexs 10.67% rise.

The large-cap bank has equity capital of Rs 460.83 crore. Face value per share is Rs 2.

Bank of Baroda (BoB) said that the capital raising committee of the board has approved yesterday, 14 March 2017, raising funds through issuance of Basel III compliant Additional Tier-I bonds (perpetual debt instrument) amounting to Rs 500 crore with green shoe option of Rs 500 crore.

The bank said the issuance will be on private placement basis depending on market conditions.

Bank of Baroda reported net profit of Rs 252.67 crore in Q3 December 2016, as compared with net loss of Rs 3342.04 crore in Q3 December 2015. Total income rose 3.9% to Rs 12181.04 crore in Q3 December 2016 over Q3 December 2015.

Government of India holds 59.24% stake in Bank of Baroda (as on 31 December 2016).

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SRG Housing Finance to hold board meeting
Mar 15,2017

SRG Housing Finance will hold a meeting of the Board of Directors of the Company on 16 March 2017 To consider allotment of 16,87,300 equity shares of Rs. 10/- each at an issue price of Rs. 90/- each aggregating to Rs. 15,18,57,000/- on preferential basis to non-promoters pursuant to approval of members of the Company obtained through postal ballot on March 14, 2017 and in-principle approval letter received from BSE Limited dated March 07, 2017

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Engineers India to hold board meeting
Mar 15,2017

Engineers India will hold a meeting of the Board of Directors of the Company on 20 March 2017.

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Infosys to hold board meeting
Mar 15,2017

Infosys will hold a meeting of the Board of Directors of the Company on 13 April 2017.

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Prakash Industries allots 1218951 equity shares
Mar 15,2017

Prakash Industries announced that the Committee of the Board of Directors of the Company in its meeting held on 15 March 2017 has allotted 1218951 equity shares on conversion of FCCBs.

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Prakash Industries allots 1218951 equity shares
Mar 15,2017

Prakash Industries announced that the Committee of the Board of Directors of the Company in its meeting held on 15 March 2017 has allotted 1218951 equity shares on conversion of FCCBs.

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BHEL commences commercial operations of first 800 MW coal based STPP
Mar 15,2017

Bharat Heavy Electricals has commenced commercial operations of its first 800 MW - highest rating coal based supercritical thermal power plant. The milestone was achieved for the first unit of the 2x800 MW Yeramarus thermal power station of Raichur Power Corporation, in Raichur district of Karnataka.

Significantly, the commercial operation of this unit also marks BHELs foray as a developer into the field of power generation. Karnataka Power Corporation and BHEL are the main equity partners of RPCL, the owner and operator of this power plant.

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BHEL commences commercial operations of first 800 MW coal based STPP
Mar 15,2017

Bharat Heavy Electricals has commenced commercial operations of its first 800 MW - highest rating coal based supercritical thermal power plant. The milestone was achieved for the first unit of the 2x800 MW Yeramarus thermal power station of Raichur Power Corporation, in Raichur district of Karnataka.

Significantly, the commercial operation of this unit also marks BHELs foray as a developer into the field of power generation. Karnataka Power Corporation and BHEL are the main equity partners of RPCL, the owner and operator of this power plant.

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Gujarat Containers appoints director
Mar 15,2017

Gujarat Containers announced the appointment of Sanjay Shah as an Additional Independent Director of the Company with effect from 06 March 2017 for a term of Consecutive 5 years, subject to approval of shareholders in General Meeting of the Company.

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Beardsell fixes record date for interim dividend
Mar 15,2017

Beardsell has fixed 23 March 2017 as the Record Date for the purpose of Payment of Interim Dividend.

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JSW Steel gains after good steel production in February
Mar 15,2017

The announcement was made during trading hours today, 15 March 2017.

Meanwhile, the S&P BSE Sensex was down 20.67 points, or 0.07% to 29,421.96.

On the BSE, 1.54 lakh shares were traded in the counter so far, compared with average daily volumes of 4.05 lakh shares in the past one quarter. The stock had hit a high of Rs 184.60 and a low of Rs 180.30 so far during the day.

The stock hit a record high of Rs 201.40 on 31 January 2017. The stock hit a 52-week low of Rs 117.25 on 15 March 2016.

The stock had underperformed the market over the past one month till 14 March 2017, falling 3.43% compared with 3.85% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 11.20% as against Sensexs 10.67% rise.

The large-cap company has equity capital of Rs 241.72 crore. Face value per share is Re 1.

JSW Steel said its total production of flat-rolled steel products rose 23% to 8.96 lakh tonnes in February 2017 over February 2016. Total production of long-rolled steel products rose 8% to 2.50 lakh tonnes in February 2017 over February 2016.

On a consolidated basis, JSW Steel reported net profit of Rs 730.05 crore in Q3 December 2016 as against net loss of Rs 709.09 crore in Q3 December 2015. Net sales rose 61% to Rs 13797.50 crore in Q3 December 2016 over Q3 December 2015.

JSW Steel is the leading integrated steel company in India with an installed steel-making capacity of 18 million tonnes per annum (MTPA).

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Dilip Buildcon announces incorporation of subsidiary
Mar 15,2017

Dilip Buildcon has incorporates a wholly owned subsidiary - JALPA DEVI ENGINEERING. This company will be manufacturing manganese castings for stone crushing equipment and fabrication of girders, road furniture.

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