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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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Raymond advances after buying remaining stake in JK Ansell Company
Aug 18,2017

The announcement was made after market hours yesterday, 17 August 2017.

Meanwhile, the S&P BSE Sensex was down 222.71 points, or 0.7%, to 31,572.75. The S&P BSE Mid-Cap index was down 58.19 points, or 0.38%, to 15,170.33.

On the BSE, 31,606 shares were traded in the counter so far, compared with average daily volumes of 89,882 shares in the past one quarter. The stock had hit a high of Rs 764.80 and a low of Rs 750 so far during the day. The stock had hit a record high of Rs 839.80 on 6 July 2017. The stock had hit a 52-week low of Rs 398.15 on 23 August 2016.

The stock had underperformed the market over the past one month till 17 August 2017, falling 6.86% compared with the Sensexs 0.87% decline. The stock had also underperformed the market over the past one quarter, declining 4.76% as against the Sensexs 3.71% rise. The scrip had, however, outperformed the market over the past one year, jumping 74.73% as against the Sensexs 13.53% rise.

The mid-cap textile and apparel major has equity capital of Rs 61.38 crore. Face value per share is Rs 10.

Raymond said that, with the transaction, the sexual wellness and personal care business will continue to remain in JK Ansell which will become wholly owned subsidiary of JK Investo Trade (India) (JKIT), a Raymond Group company. As per the proposed deal, JKIT sells its stake in the non-core gloves business to Pacific Dunlop Holdings (Singapore), a Ansell Group Company.

The acquisition will pave the way for Raymond to further scale up the FMCG business and unlock the immense potential of brand Kamasutra globally. Raymond had announced the formation of its FMCG group last year, offering premium products for personal and home care categories.

On consolidated basis, Raymond reported net loss of Rs 5.87 crore in Q1 June 2017 compared with net loss of Rs 15.59 crore in Q1 June 2016. Net sales rose 13.2% to Rs 1196.88 crore in Q1 June 2017 over Q1 June 2016.

The Raymond Group was incorporated in 1925 and is a textiles manufacturer. The company makes finest fabrics - from wool to wool-blended worsted suiting to specialty ring denims as well as high value shirting.

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Four stocks drop ex-dividend
Aug 18,2017

Meanwhile, the S&P BSE Sensex was down 219.81 points or 0.69% at 31,575.65.

InterGlobe Aviation fell 2.21% to Rs 1,281.60 as the stock turned ex-dividend today, 18 August 2017, for dividend of Rs 34 per share for the year ended 31 March 2017. Before turning ex-dividend, the stock offered a dividend yield of 2.59% based on the closing price of Rs 1,310.50 on BSE yesterday, 17 August 2017.

Kaveri Seed Company lost 1.43% to Rs 540.75 as the stock turned ex-dividend today, 18 August 2017, for interim dividend of Rs 3 per share for the year ending 31 March 2018. Before turning ex-dividend, the stock offered a dividend yield of 0.55% based on the closing price of Rs 548.60 on BSE yesterday, 17 August 2017.

L&T Finance Holdings fell 1.25% to Rs 173.55 as the stock turned ex-dividend today, 18 August 2017, for dividend of Rs 0.80 per share for the year ended 31 March 2017. Before turning ex-dividend, the stock offered a dividend yield of 0.46% based on the closing price of Rs 175.75 on BSE yesterday, 17 August 2017.

Jubilant FoodWorks lost 0.77% to Rs 1,388.10 as the stock turned ex-dividend today, 18 August 2017, for dividend of Rs 2.50 per share for the year ended 31 March 2017. Before turning ex-dividend, the stock offered a dividend yield of 0.18% based on the closing price of Rs 1,398.90 on BSE yesterday, 17 August 2017.

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Talbros Engineering jumps as board recommends bonus issue
Aug 18,2017

The announcement was made after market hours yesterday, 17 August 2017.

Meanwhile, the S&P BSE Sensex was down 180.24 points or 0.57% at 31,615.22. The S&P BSE Small-Cap index was down 93.80 points or 0.6% at 15,600.73.

More than usual volumes were witnessed on the counter. On the BSE, 5,171 shares were traded on the counter so far as against the average daily volumes of 3,096 shares in the past one quarter. The stock had hit a high of Rs 570.05 in intraday trade, which is also a record high for the stock. The stock had hit a low of Rs 551 so far during the day. The stock had hit a 52-week low of Rs 192.20 on 16 August 2016.

The stock had outperformed the market over the past one month till 17 August 2017, gaining 14.99% compared with the Sensexs 0.87% decline. The stock had also outperformed the market over the past one quarter, gaining 74.39% as against the Sensexs 3.71% rise. The scrip had also outperformed the market over the past one year, jumping 159.37% as against the Sensexs 13.53% rise.

The small-cap company has equity capital of Rs 2.54 crore. Face value per share is Rs 10.

Talbros Engineerings net profit rose 58.04% to Rs 2.42 crore on 20.5% rise in total income to Rs 50.33 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 17 August 2017.

Talbros Engineering started making axle shafts in 1980. From humble beginnings the scale has moved to 5,000 axle shafts per day. The company makes only axle shafts.

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Aashee Infotech schedules AGM
Aug 18,2017

Aashee Infotech announced that the Annual General Meeting (AGM) of the company will be held on 21 September 2017.

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Petronet LNG provides update on dividend and bonus issue
Aug 18,2017

Petronet LNG announced that with reference to dividend of Rs 5 per share and bonus issue of 1:1 recommended by the Board on 09 May 2017, the Board of the Company has declared the dividend on pre- bonus issue share capital (i.e. Rs. 75,00,00,0440). Further, after bonus issue the paid up capital of Company has become Rs. 15,00,00,00,880. As a result the dividend shall be adjusted accordingly i.e. Rs. 2.5/- per share on current paid up capital.

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Cupid Trades & Finance announces registered office
Aug 18,2017

Cupid Trades & Finance announced its registered office as under -

122, 2nd Floor, Flox Chambers, 10/21 Tata Road No. 1, Opera House, Mumbai - 400 004, Maharashtra, India.

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Board of Shervani Industrial Syndicate approves buyback of shares
Aug 18,2017

The Board of Shervani Industrial Syndicate at its meeting held on 14 August 2017 has approved the buyback of 2,47,400 fully paid up ordinary shares of face value of Rs 10 each for an amount not exceeding Rs 5.07 crore representing 9.67% of the aggregate of the fully paid up ordinary share capital and free reserves.

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Wires & Fabriks (S.A) fixes record date for dividend
Aug 18,2017

Wires & Fabriks (S.A) has fixed 05 September 2017 as record date for dividend for FY 2017.

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Outcome of board meeting of Ganesh Benzoplast
Aug 18,2017

Ganesh Benzoplast announced that the Board of Directors of the Company at its meeting held on 18 August 2017 has transacted the following -

i. Considered and approved that a proposal to segregate the divisions of the Company either by Demerger or Slump Sale will be formulated and implemented immediately.

ii. The designation of Mr Ramesh Punjabi has been changed from Non-Executive Independent Director to Non-Executive Non-Independent Director, liable to retire by rotation, w.e.f 18 August 2017.

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B & A fixes record date for final dividend
Aug 18,2017

B & A has fixed 08 September 2017 as record date for final dividend for FY 2017.

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Oriental Veneer Products fixes record date for dividend
Aug 18,2017

Oriental Veneer Products announced that final Dividend of Rs. 2/- per Equity Share of Rs. 10/- each as recommended by the Board of Directors, if declared at the AGM will be paid before 26 October, 2017 to those shareholders whose names appear in the Register of Members/List of Beneficial Owners maintained by the Depositories as on Wednesday, 20 September, 2017.

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Punjab National Bank announces interest rate on Savings Balances
Aug 18,2017

Punjab National Bank has introduced two tier interest rate structure on Savings Fund deposit scheme with effect from 19 August 2017.

Savings Balance upto Rs 50 lakh - 3.50% p.a.
Savings Balance above Rs 50 lakh - 4% p.a.

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Board of Confidence Finance & Trading approves consolidation of shares
Aug 18,2017

The Board of Confidence Finance & Trading has approved to Consolidate the Face Value of Equity Shares from Re. 1/- to Rs. 10/- in Board Meeting held on 18 August, 2017.

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Board of Manaksia Industries approves setting up of three new subsidiaries
Aug 18,2017

The Board of Manaksia Industries at its meeting held on 16 August 2017 approved the following -

Setting up new subsidiaries in Bangladesh and Sri Lanka with investment of USD 200000 each for manufacturing of packaging products of different sizes for supply to pharmaceuticals, liquor and other industries.

Setting up new subsidiary in Georgia for medical business, metals, edible items by investment of USD 200000.

AGM to be held on 18 September 2017.

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United Bank of India announces change in nominee director
Aug 18,2017

United Bank of India announced the appointment of Sameer Kumar Khare as Government Nominee Director, in place of A K Dogra on the Board of the Bank with immediate effect.

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