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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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Taparia Tools schedules board meeting
Aug 03,2017

Taparia Tools will hold a meeting of the Board of Directors of the Company on 11 August 2017, for considering the re-appointment of Whole-time Director, Notice for 51st Annual General Meeting and other matters.

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Volumes jump at Tube Investments of India counter
Aug 03,2017

Tube Investments of India clocked volume of 8.86 lakh shares by 13:35 IST on BSE, a 59-times surge over two-week average daily volume of 15,000 shares. The stock fell 1.33% to Rs 762.70

TCS notched up volume of 4.44 lakh shares, a 10.94-fold surge over two-week average daily volume of 41,000 shares. The stock rose 0.96% to Rs 2,491.05.

Bata India saw volume of 6.05 lakh shares, a 9.43-fold surge over two-week average daily volume of 64,000 shares. The stock surged 6.38% to Rs 620.70.

Fortis Healthcare clocked volume of 64.42 lakh shares, a 6.85-fold surge over two-week average daily volume of 9.40 lakh shares. The stock jumped 6.11% to Rs 162.35.

Phillips Carbon Black saw volume of 2.58 lakh shares, a 6.39-fold rise over two-week average daily volume of 40,000 shares. The stock spurted 7.66% to Rs 632.

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Reliance Communications biggest loser on BSEs A group
Aug 03,2017

Meanwhile, the S&P BSE Sensex was down 154 points, or 0.47% at 32,322.74.

Reliance Communications (RCom) slipped 6.59% at Rs 23.40. The stock topped the losers in A group. On the BSE, 33.99 lakh shares were traded on the counter so far as against the average daily volumes of 27.55 lakh shares in the past two weeks.

Jindal Steel & Power declined 5.75% at Rs 149.05. The stock was the second biggest loser in A group. On the BSE, 19.96 lakh shares were traded on the counter so far as against the average daily volumes of 13.98 lakh shares in the past two weeks.

National Aluminium Company (Nalco) fell 3.95% at Rs 66.85. The stock was the third biggest loser in A group. On the BSE, 2.85 lakh shares were traded on the counter so far as against the average daily volumes of 3.62 lakh shares in the past two weeks.

Unitech skid 3.41% at Rs 7.94. The stock was the fourth biggest loser in A group. On the BSE, 52.58 lakh shares were traded on the counter so far as against the average daily volumes of 96.83 lakh shares in the past two weeks.

Union Bank of India tumbled 3.53% at Rs 144.75. The stock was the fifth biggest loser in A group. On the BSE, 5.02 lakh shares were traded on the counter so far as against the average daily volumes of 4.28 lakh shares in the past two weeks.

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Narayana Hrudayalaya drops after poor Q1 earnings
Aug 03,2017

The result was announced after market hours yesterday, 2 August 2017.

Meanwhile, the S&P BSE Sensex was down 123.95 points, or 0.38%, to 32,352.79. The S&P BSE Mid-Cap index was up 55.12 points, or 0.36%, to 15,467.08.

On BSE, so far 5,969 shares were traded in the counter as against average daily volume of 55,225 shares in the past one quarter. The stock hit a high of Rs 305 and a low of Rs 297.25 so far during the day. The stock had hit a record high of Rs 375 on 10 November 2016. The stock had hit a 52-week low of Rs 286.80 on 6 July 2017.

The stock had underperformed the market over the past one month till 2 August 2017, falling 2.01% compared with 4.06% rise in the Sensex. The scrip had underperformed the market in past one quarter, falling 1.78% as against Sensexs 7.80% rise. The scrip had also underperformed the market in past one year, declining 3.94% as against Sensexs 17.26% rise.

The mid-cap company has equity capital of Rs 204.36 crore. Face value per share is Rs 10.

Consolidated earnings before interest, taxation, depreciation and amortization (EBITDA) stood at Rs 55.60 crore in Q1 June 2017, reflecting a margin of 10.7% as against Rs 55.90 crore in Q1 June 2016.

Ashutosh Raghuvanshi, Vice Chairman, Managing Director and Group CEO, Narayana Hrudayalaya said that while there has been an impact due to curb on cardiac stent pricing along with commissioning of new facility in Mumbai, the company remains on-track to deliver affordable quality healthcare to all with distinguished business model.

Narayana Hrudayalaya is one of the leading healthcare service providers in India, operating a chain of multispecialty, tertiary and primary healthcare facilities. The company has a network of 23 hospitals and 7 heart centres across India and a single hospital overseas at Cayman Islands with close to 5,800 operational beds across all its centres and potential to reach a capacity of 7,000 beds.

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Zenlabs Ethica announces change in company secretary
Aug 03,2017

Zenlabs Ethica announced that Harmilan Kaur is appointed as a Compliance officer and Company Secretary of the company in place of Satish Kumar, Director who has tendered his resignation from the post of compliance officer with effect from 03 August, 2017.

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Cabinet approves construction of doubling of line with electrification between Thiruvananthapuram and Kanniyakumari
Aug 03,2017

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has approved the construction of double line with electrification between Thiruvananthapuram in Kerala and Kanniyakumari in Tamil Nadu.

The total length of the line will be 86.56 km. The estimated cost of the Project will be Rs.1431.90 crore and completion cost of Rs.1552.94 crore with 5% escalation per annum.

The project is likely to be completed in four years by 2020-21. The project will generate direct employment during construction for 20.77 lakh mandays.

The project would not only speed up the operation of goods and coaching trains, but also provide additional capacity for meeting the increase in traffic in future.

Background:

The section is heavily passenger oriented which also serve the goods traffic from nearby ports. Operations from Vizhinjam port is likely to start by 2019 and 30% of its gateway traffic is likely to be handled by Railways. Present line capacity of Thiruvananthapuram-Nagarcoil section of this route has already saturated which is causing heavy detention to trains moving towards Kanniyakumari and Chennai. Line capacity of this route needs to be enhanced to meet the demands for additional trains and smooth movement of trains through the route. Hence, doubling of Thiruvananthapuram and Kanniyakumari line needs to be taken up.

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Kalpataru Power Transmission secures new orders
Aug 03,2017

Kalpataru Power Transmission has secured new orders / notification of award of Rs 1081 crore. These include -

Two order for laying of pipelines and associated EPC work totalling Rs 763 crore from GSPL India Transco and KKMP part IIA project of GAIL (India).

Railway electrification, signalling and telecommunication order of Rs 318 crore, to be completed in 30 months. The project is awarded to JV consortium of STS and KPTL.

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Board of Nelcast approves greenfield project for manufacture of iron castings
Aug 03,2017

The Board of Directors of Nelcast at its meeting held on 03 August 2017 has approved the setting up of a state-of-the-art greenfield project for manufacture of Iron Castings in Andhra Pradesh. The manufacturing facility is being set up over 42 acres of land with an investment of Rs 79 crore in its first phase. The capacity of the first phase would be about 18000 MT per annum. The overall capacity of the plant would be 54000 MT per annum and will be implemented in two phases. The commercial production of the first phase is expected by end of September 2018.

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GMM Pfaudler fixes record date for 1st interim dividend
Aug 03,2017

GMM Pfaudler has fixed 21 August 2017 as the Record Date for the purpose of Payment of First Interim Dividend.

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MphasiS allots 11,332 equity shares
Aug 03,2017

MphasiS has allotted 11,332 equity shares under Restricted Stock Units Plan.

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Navin Fluorine drops on profit booking
Aug 03,2017

Meanwhile, the S&P BSE Sensex was down 127.90 points, or 0.39% at 32,348.84. The S&P BSE Mid-Cap index was up 20.76 points, or 0.13% at 15,432.72.

On the BSE, 25,000 shares were traded on the counter so far as against the average daily volumes of 37,000 shares in the past two weeks. The stock had hit a high of Rs 764.75 and a low of Rs 720 so far during the day.

Shares of Navin Fluorine International had rallied 20.58% in the preceding six trading sessions to settle at Rs 758 yesterday, 2 August 2017, from its close of Rs 628.65 on 25 July 2017.

Navin Fluorine Internationals net profit rose 12.5% to Rs 49.11 crore on 38.5% increase in net sales to Rs 225.43 crore in Q1 June 2017 over Q1 June 2016.

Navin Fluorine International is the largest integrated specialty fluorochemical company in India.

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Cabinet approves construction of doubling of line with electrification between Madurai-Vanchi and Maniyachchi-Tuticorin
Aug 03,2017

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has approved the construction of double line with electrification between Madurai-Vanchi and Maniyachchi-Tuticorin in Tamil Nadu.

The total length of the line will be 160 km. The estimated cost of the Project will be Rs.1182.31 crore and completion cost of Rs.1272.51 crore with 5% escalation per annum.

The project is likely to be completed in four years by 2020-21. The project will generate direct employment during construction for 38.40 lakh mandays.

The project would not only speed up the operation of goods and coaching trains, but also provide additional capacity for meeting the increase in traffic in future.

Background:

Demands are being received for introduction of additional trains for this area to serve the local people, the ever increasing tourists desiring to visit the area and the traffic originating to/from Ports. Present Line Capacity utilisation of the section on trunk route is 106% which is likely to increase to 154% in next four years. This would cause detention to passenger and goods trains on trunk route and that originating to/from Tuticorin Port in future if double line is not provided on this 160 km section. Hence, doubling of Madurai-Vanchi Maniyachchi-Tuticorin with electrification needs to be taken up.

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Ponni Sugars (Erode) tumbles after weak Q1 numbers
Aug 03,2017

The result was announced after market hours yesterday, 2 August 2017.

Meanwhile, the S&P BSE Sensex was down 141.68 points, or 0.44% to 32,335.06.

On the BSE, 255 shares were traded in the counter so far, compared with average daily volumes of 692 shares in the past one quarter. The stock had hit a high of Rs 189.10 and a low of Rs 181.20 so far during the day. The stock hit a 52-week high of Rs 288 on 3 August 2016. The stock hit a 52-week low of Rs 174.10 on 31 May 2017.

The stock had outperformed the market over the past one month till 2 August 2017, rising 5.97% compared with 4.06% rise in the Sensex. The scrip had underperformed the market in past one quarter, falling 5.01% as against Sensexs 7.80% rise. The scrip had also underperformed the market in past one year, falling 24.42% as against Sensexs 17.26% rise.

The small-cap company has equity capital of Rs 8.60 crore. Face value per share is Rs 10.

Ponni Sugars (Erode) is engaged in the manufacturing and selling of sugar.

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Ratnamani Metals & Tubes secures export order of USD 29 mn
Aug 03,2017

Ratnamani Metals & Tubes has bagged new export order of USD 29 million (approx. Rs.184.00 crores for supply of Carbon Steel Coated Pipes to be completed by March / April, 2018.

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Purohit Construction announces board meeting date
Aug 03,2017

Purohit Construction will hold a meeting of the Board of Directors of the Company on 14 August 2017, to consider and approve the Unaudited Standalone Financial Results of the Company for the quarter ended on June 30, 2017.

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