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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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NBCC gets stronger after successful e-auction of commercial space
Jun 02,2017

The announcement was made after market hours yesterday, 1 June 2017.

Meanwhile, the S&P BSE Sensex was up 132.79 points, or 0.43% to 31,270.38.

On the BSE, 69,525 shares were traded in the counter so far, compared with average daily volumes of 2.17 lakh shares in the past one quarter. The stock had hit a high of Rs 198.25 and a low of Rs 194.90 so far during the day. The stock had hit a record high of Rs 205.75 on 28 April 2017. The stock hit a 52-week low of Rs 117.67 on 24 June 2016.

The stock fell 3.4% over the past one month till 1 June 2017, underperforming the Sensexs 4.08% rise. The scrip had, however, outperformed the market in past one quarter, rising 16.62% as against Sensexs 7.43% rise. The scrip had outperformed the market in past one year, gaining 49% as against Sensexs 16.56% rise.

The large-cap company has equity capital of Rs 180 crore. Face value per share is Rs 2.

NBCC (India) said that it has successfully launched and e-auctioned upcoming commercial and office space in one tower having ten floors of 2.83 lakh square feet of super built up area at Nauroji Nagar, New Delhi which would inflow around Rs 1100 crore in stages as per agreement.

NBCC had been engaged as implementing and marketing agency for re-development of three general pool residential accommodation (GRPA) colonies, Nauroji Nagar, Netaji Nagar and Sarojini Nagar on self sustainable finance model.

NBCC (India) is a blue-chip Government of India (GoI) Navratna Enterprise under the Ministry of Urban Development, in construction sector. The GoI held 75% stake in the firm (as per shareholding pattern as on 31 March 2017).

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Outcome of board meeting of Dwarikesh Sugar Industries
Jun 02,2017

Dwarikesh Sugar Industries at the board meeting held on 02nd June 2017 approved the sub-division of face value of equity shares from Rs 10 each to Re 1 each, sub-division of Authorised share capital of the company from 2,25,00,000 equity shares of Rs 10 each into 22,50,00,000 equity shares of Re 1 each and consequently subdivision of Issued, Subscribed & Paid up capital of 1,88,30,147 Equity shares from Rs 10 each fully paid up into 18,83,01,470 Equity shares of Rs 1 each fully paid up and subsequent alteration of capital clause of Memorandum of Association of the company, approval for conducting postal ballot for the consideration of the same.

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GHCL to hold AGM
Jun 02,2017

GHCL announced that the 34th Annual General Meeting of the Company will be held on 29 June 2017.

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MT Educare drops on profit booking
Jun 02,2017

Meanwhile, the S&P BSE Sensex was up 136.87 points, or 0.44% at 31,274.46. The S&P BSE Small-Cap index was up 90.53 points, or 0.59% at 15,324.77.

On the BSE, 19,000 shares were traded on the counter so far as against the average daily volumes of 1.26 lakh shares in the past one quarter. The stock had hit a high of Rs 68.50 and a low of Rs 65.55 so far during the day. The stock had hit a 52-week high of Rs 189.60 on 1 June 2016 and hit a 52-week low of Rs 58.95 on 23 May 2017.

The stock had underperformed the market over the past one month till 1 June 2017, declining 15.47% compared with the Sensexs 4.08% rise. The scrip had also underperformed the market over the past one quarter declining 30.98% as against the Sensexs 7.43% rise. The scrip had also underperformed the market over the past one year declining 62.48% as against the Sensexs 16.56% rise.

The small-cap company has equity capital of Rs 39.82 crore. Face value per share is Rs 10.

MT Educare had rallied 11.42% in the preceding one trading session to settle at Rs 68.30 yesterday, 1 June 2017, from its closing of Rs 61.30 on 31 May 2017.

MT Educares consolidated net profit fell 51.9% to Rs 2.38 crore on 20.2% decrease in net sales to Rs 33.96 crore in Q4 March 2017 over Q4 March 2016.

MT Educare is one of the leading education support and coaching services provider in school, science and commerce streams across Maharashtra and has operations in other states like Tamil Nadu, Kerala, Andhra Pradesh, Telangana, Karnataka, Punjab, Haryana, Assam, Uttar Pradesh and Gujarat.

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Hindustan Petroleum corporation fixed record date
Jun 02,2017

Hindustan Petroleum Corporation has fixed 12 July 2017 as the record date for the purpose of payment od Dividend and Bonus Issue.

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DCM Shriram gets ratings upgraded
Jun 02,2017

ICRA has upgraded the long-term rating assigned to the bank facilities of DCM Shriram from ICRA AA- to ICRA AA and outlook on the long term rating is Stable. However, the Short Term Rating and Commercial Paper ratings were re-affirmed at ICRA A1+. Fixed Deposit rating is affirmed at ICRA MAA+.

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Himachal Futuristic Communication approves allotment of NCDs
Jun 02,2017

Himachal Futuristic Communication has approved the allotment of 10.30%, 4,23,000 Secured Unlisted Non-convertible Debentures (NCDs) of the Company of Rs.100/- each aggregating to Rs.4,23,00,000/- on private placement basis by way of conversion of outstanding right of recompense amount payable to the State Bank of India.

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Volumes jump at JVL Agro Industries counter
Jun 02,2017

JVL Agro Industries clocked volume of 90.93 lakh shares by 12:30 IST on BSE, a 246.13-times surge over two-week average daily volume of 37,000 shares. The stock hit 20% upper circuit at Rs 21.60.

Rupa & Company notched up volume of 2.6 lakh shares, a 29.07-fold surge over two-week average daily volume of 9,000 shares. The stock jumped 16.12% at Rs 448.

Godrej Consumer Products clocked volume of 4.35 lakh shares, a 24.8-fold surge over two-week average daily volume of 18,000 shares. The stock rose 0.11% at Rs 1,818.55.

PI Industries saw volume of 3.81 lakh shares, a 15.6-fold surge over two-week average daily volume of 24,000 shares. The stock gained 0.22% at Rs 812.

Crompton Greaves Consumer Electricals saw volume of 9.17 lakh shares, a 12.64-fold rise over two-week average daily volume of 73,000 shares. The stock gained 4.58% at Rs 241.85.

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Board of KLRF recommends final dividend
Jun 02,2017

KLRF announced that the Board of Directors of the Company at its meeting held on 31 May 2017, inter alia, have recommended the final dividend of Rs 1 per equity Share (i.e. 10%) , subject to the approval of the shareholders.

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Board of Om Metals Infraprojects recommends final dividend
Jun 02,2017

Om Metals Infraprojects announced that the Board of Directors of the Company at its meeting held on 30 May 2017, inter alia, have recommended the final dividend of Rs 0.2 per equity Share (i.e. 20%) , subject to the approval of the shareholders.

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Board of Chemcrux Enterprises recommends final dividend
Jun 02,2017

Chemcrux Enterprises announced that the Board of Directors of the Company at its meeting held on 30 May 2017, inter alia, have recommended the final dividend of Rs 0.25 per equity Share (i.e. 2.5%) , subject to the approval of the shareholders.

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Board of The Hi-Tech Gears recommends final dividend
Jun 02,2017

The Hi-Tech Gears announced that the Board of Directors of the Company at its meeting held on 29 May 2017, inter alia, have recommended the final dividend of Rs 1.25 per equity Share (i.e. 12.5%) , subject to the approval of the shareholders.

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Board of CHD Chemicals recommends final dividend
Jun 02,2017

CHD Chemicals announced that the Board of Directors of the Company at its meeting held on 29 May 2017, inter alia, have recommended the final dividend of Rs 0.1 per equity Share (i.e. 1%) , subject to the approval of the shareholders.

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Board of Savera Industries recommends final dividend
Jun 02,2017

Savera Industries announced that the Board of Directors of the Company at its meeting held on 30 May 2017, inter alia, have recommended the final dividend of Rs 1.5 per equity Share (i.e. 15%) , subject to the approval of the shareholders.

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Board of Kolte Patil Developers recommends final dividend
Jun 02,2017

Kolte Patil Developers announced that the Board of Directors of the Company at its meeting held on 30 May 2017, inter alia, have recommended the final dividend of Rs 1.6 per equity Share (i.e. 16%) , subject to the approval of the shareholders.

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