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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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Hong Kong Financial market shut for the holiday
Dec 26,2016

Hong Kongs financial markets closed on Monday, 26 December 2016, for the holiday. The city financial market also shut again on Tuesday for the holiday. The Hang Seng Index has lost 5.3% in December and tumbled 7.4% in the fourth quarter. The index is down 1.6% this year.

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India received largest FDIs from Singapore in Fiscal 2015-16: PHD Chamber & KPMG
Dec 26,2016

India received the maximum FDI inflows from Singapore in fiscal 2015-16 followed by Mauritius, USA, Netherlands and Japan, respectively US $ 13.69 billion, 8.35 billion, 4.19 billion, 2.64 billion and 2.61 billion, according to a report on Foreign Direct Investment in India jointly prepared by PHD Chamber of Commerce and Industry and KPMG.

The report highlights the recent liberalization in FDI policies & regulations, and advocates for continued efforts by government to sustain the current momentum.

The 2 year period from October 2014 - September 2016 has recorded a 60% increase in FDI equity inflows, a notable achievement.

Emphasizing on sector specific FDI inflows, the report suggests that on an average between 2000 and 2016 approximately 40% of FDI inflows has gone into services, telecom, construction and computer software and hardware with pharmaceuticals, chemicals and automobile sectors each receiving close to 5% of the countrys total FDI inflows.

The PHD Chamber internal analysis indicates that FDIs are related to ease of doing business in India and therefore, in its federal structure, an effective project monitoring group need to be activated in all States and UTs to encourage the bureaucracy to adopt a progressive approach towards investment proposals so that India sees multiplication in them.

It is also highlighted in the report that Maharashtra, Delhi, Haryana, Karnataka, Tamil Nadu, Gujarat and Andhra Pradesh together attracted more that 70% of total FDI inflows to India in the last 15 years.

Maharashtra received FDI amounting to US$9.5 billion during April 2015 - March 2016 against US$6.36 billion in between April 2014 - March 2015. During April 2000 and September 2016, the state received cumulative FDI totaling US$92.84 billion, constituting 30% of the countrys FDI.

According to the report, Delhi received FDI inflows to the tune of US$12,743 million during April 2015 - March 2016 against US$6,875 million in April 2014 - March 2015. From April 2000 to September 2016, the state received FDI totaling US$65,652 million, constituting 21% of the countrys FDI and the second highest among states.

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L&T gains after construction arm wins orders
Dec 26,2016

The announcement was made during trading hours today, 26 December 2016.

Meanwhile, the BSE Sensex was down 158.26 points, or 0.61%, to 25,882.44.

On the BSE, so far 53,000 shares were traded in the counter, compared with average daily volumes of 2.33 lakh shares in the past one quarter. The stock had hit a high of Rs 1,342 and a low of Rs 1,319.50 so far during the day.

The stock hit a 52-week high of Rs 1,615 on 27 July 2016. The stock hit a 52-week low of Rs 1,016.60 on 12 February 2016. The stock had underperformed the market over the past 30 days till 23 December 2016, falling 1.15% compared with the 0.70% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 10.68% as against Sensexs 9.17% decline.

The large-cap company has equity capital of Rs 186.54 crore. Face value per share is Rs 2.

L&T said that under its construction arm, the water & effluent treatment business segment won orders worth Rs 1422 crore. The power transmission & distribution business segment secured major orders worth Rs 1036 crore. The heavy civil infrastructure business segment won an order worth Rs 359 crore. The metallurgical and material handling business segment bagged an order worth Rs 222 crore.

On a consolidated basis, L&Ts net profit jumped 84.31% to Rs 1434.63 crore on 8.48% growth in net sales to Rs 24923.98 crore in Q2 September 2016 over Q2 September 2015.

L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with $16 billion in revenue. L&T Construction is a brand of L&T.

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Board of Dhanuka Commercial approves change in CFO
Dec 26,2016

Dhanuka Commercial announced that the Board of Directors of the company at its meeting held on 26 December 2016 approved the following -

Approved change in name of company and apply for reservation of proposed name with RoC, NCT of Delhi and Haryana.

Accept resignation of Vinod Kumar Aggarwal as CFO of the Company with effect from 26 December 2016.

Approved appointment of Ravi Garg as CFO of the Company with effect from 27 December 2016.

Approved notice to convene EGM on 21 January 2017.

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Board of Mipco Seamless Rings (Gujarat) to appoint company secretary
Dec 26,2016

Mipco Seamless Rings (Gujarat) announced that a meeting of the Board of Directors of the Company will be held on 04 January 2017 to consider the appointment of Srishti Agarwal as Company Secretary & Compliance Officer of the Company.

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Divis Laboratories leads losers in BSEs A group
Dec 26,2016

Divis Laboratories slumped 10.93% at Rs 771.45 at 13:37 IST. The stock topped the losers in A group. On the BSE, 15.81 lakh shares were traded on the counter so far as against the average daily volumes of 1.32 lakh shares in the past two weeks.

South Indian Bank slipped 5.72% at Rs 18.95. The stock was the second biggest loser in A group. On the BSE, 9.58 lakh shares were traded on the counter so far as against the average daily volumes of 8.10 lakh shares in the past two weeks.

MphasiS skid 5.37% at Rs 525. The stock was the third biggest loser in A group. On the BSE, 5,040 shares were traded on the counter so far as against the average daily volumes of 14,000 shares in the past two weeks.

Edelweiss Financial Services declined 5.36% at Rs 92.75. The stock was the fourth biggest loser in A group. On the BSE, 2.12 lakh shares were traded on the counter so far as against the average daily volumes of 3.86 lakh shares in the past two weeks.

Hindalco Industries fell 5.08% at Rs 151.30. The stock was the fifth biggest loser in A group. On the BSE, 7.30 lakh shares were traded on the counter so far as against the average daily volumes of 8.13 lakh shares in the past two weeks.

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DTC Bus Fare Likely To Fall Shortly: Imran Hussain
Dec 26,2016

In a bid to put a partial curb in overall pollution levels, the government of NCT of Delhi is likely to curtail existing bus fare rates under Delhi Transport Corporation (DTC) to maximize commuting in and around Delhi, according to the Minister of Environment & Forest, Food Supplies and Elections, Mr. Imran Hussain.

Mr. Hussain also said that the AAP Government would also intensify efforts for third party audit to combat pollution which would enhance plantation of additional trees.

According to him, n++the Delhi Government is likely to curtail the DTC bus fare shortly to encourage and motivate the commuting lot of four wheeler vehicles, beat car and any other such mode of transport to shift away to CNG buses that would be comfortable and even luxurious. This could be one measure that could contain the vehicular pollution in and around Delhin++.

The Minister, however, did not elaborate on this any further nor did he explain as to by when the bus fare would be reduced and to which extent.

Mr. Hussain also praised the initiative of the Road Transport and Highways Minister Mr. Nitin Gadkari as per which the state governments of Delhi, Haryana, Rajasthan and Punjab should put in collective efforts with the Central Government to combat the menace of rising pollution on finding out solution on the issue of stubble burning in these states since it causes and contributes a great deal to pm levels in air pollution.

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Volumes jump at Swiss Glascoat Equipments counter
Dec 26,2016

Swiss Glascoat Equipments clocked volume of 18.11 lakh shares by 13:25 IST on BSE, a 515.91-times surge over two-week average daily volume of 4,000 shares. The stock rose 6.29% to Rs 138.50.

Divis Laboratories notched up volume of 15.74 lakh shares, a 11.90-fold surge over two-week average daily volume of 1.32 lakh shares. The stock fell 10.92% to Rs 771.50.

Cairn India saw volume of 9.69 lakh shares, a 5.39-fold surge over two-week average daily volume of 1.80 lakh shares. The stock fell 2.73% to Rs 237.

State Trading Corporation of India clocked volume of 5.76 lakh shares, a 5.32-fold surge over two-week average daily volume of 1.08 lakh shares. The stock hit an upper circuit limit of 19.97% at Rs 172.10.

MMTC saw volume of 11.78 lakh shares, a 3.60-fold rise over two-week average daily volume of 3.27 lakh shares. The stock rose 4.37% to Rs 53.75.

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Polaris Consulting & Services allots equity shares
Dec 26,2016

Polaris Consulting & Services announced that the Stakeholders Relationship Committee of Directors of the Company vide their circular resolution dated 26 December 2016 has approved, the allotment of 9,550 numbers of Equity Shares of Rs. 5/- each to 3 (Three) Associates under ASOP 2011 Scheme.

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Board of Gayatri Projects approves sub-division of equity shares
Dec 26,2016

Gayatri Projects announced that in the meeting of the Board of Directors of the Company held on 26 December 2016, the following items of business were, inter-alia, transacted and approved, subject to the approval of the members to be sought by way of voting through postal ballot process:

1. Sub-division of Nominal Value of equity shares of Rs. 10/- per share to Rs. 2/- per share.

2. Alteration of Capital Clause in Memorandum of Association of the Company.

3. Postal ballot notice for seeking the approval of the members for the above items.

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Demonetization Will Lead To Wider Spread Of Technology Apps For Masses: PHD Chamber
Dec 26,2016

n++With introducing demonetization, Prime Minister Modi is emphasizing Indians to adopt technology and the products created by it particularly in Indias rural landscape for financial inclusion and banking transactions, fruits of which would be imminent shortlyn++ was the crux drawn out of a Seminar on Fin Tech Startups - Time to Unleash Potential under aegis of PHD Chamber of Commerce and Industry.

The Seminar objectively concluded that demonetization has also provided a unique opportunity for fin tech startups to unleash their potential to connect with rural India for financial inclusion as well as smother banking transactions.

Thirdly, it held that demonetization would amount to a major push without any fiscal incentives from the government for fin tech to sell off their products and apps to recalcitrant and disobedient user of technology with little training to rural folks to go digital with enthusiasm and happiness.

The Seminar concluded with a positive note that with a slight twist in our mindset can bring about a revolution for adoption of evolving technologies to apply their use in our day-to-day transactions on many front. It was also felt that the government needs to incentivise the fin tech startups, what it ought to do invest human resource on vigorous training to impart the knowledge to adopt and use technology.

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Gujarat Pipavav Port hits 52-week low
Dec 26,2016

Meanwhile, the S&P BSE Sensex was down 222.61 points or 0.85% at 25,818.09.

On the BSE, 21,000 shares were traded on the counter so far as against the average daily volumes of 71,556 shares in the past one quarter. The stock hit a low of Rs 121.20 so far during the day, which is also its 52-week low for the counter. The stock hit a high of Rs 129.60 so far during the day.

The stock had hit a 52-week high of Rs 197.35 on 9 September 2016. It had underperformed the market over the past one month till 23 December 2016, sliding 7.59% compared with the Sensexs 0.04% fall. The scrip had also underperformed the market in past one quarter, declining 24.48% as against the Sensexs 9.17% fall.

The mid-cap company has equity capital of Rs 483.44 crore. Face value per share is Rs 10.

Gujarat Pipavav Ports net profit fell 32.1% to Rs 59.42 crore on 17.8% growth in net sales to Rs 163.95 crore in Q2 September 2016 over Q2 September 2015.

Gujarat Pipavav Port is managed and operated by APM Terminals, the ports and terminals company of the maritime giant, the A.P. Moller-Maersk Group.

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Lupin allots equity shares
Dec 26,2016

Lupin announced that the Allotment Committee of Directors at its meeting held on 26 December 2016 has allotted 27020 fully paid up equity shares of Rs. 2/- each. These shares have been allotted upon exercising of options granted to the employees under Stock option plans of the Company.

In view of the above, the issued and paid up capital of the Company has been increased to Rs. 90,28,71,420 consisting 45,14,35,710 equity shares of Rs. 2/- each.

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NTPC commissions Unit- I of 800 MW of Kudgi STTP
Dec 26,2016

NTPC announced that the Unit-1 of 800 MW of Kudgi Super Thermal Power Project of NTPC has been commissioned on 25 December 2016. This is the first 800 MW unit commissioned by NTPC.

With this the total installed capacity of NTPC on standalone basis has become 41062 MW and that of NTPC group has become 48028 MW.

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L&T Construction secured new orders
Dec 26,2016

Larsen & Toubro announced that L&T Constructions has secured orders worth Rs 3039 crore across its various segments.

Water & effluent treatment business - Rs 1422 crore
Power transmission & distribution business - Rs 1036 crore
Heavy civil infrastructure business - Rs 359 crore
Metallurgical and material handling business - Rs 222 crore.

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