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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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Shares of Captain Technocast get listed
Aug 01,2017

The equity shares of Captain Technocast (Scrip Code: 540652) are listed effective 01 August and admitted to dealings on the Exchange in the list of M Group Securities.

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Balrampur Chini Mills fixes record date for interim dividend
Aug 01,2017

Balrampur Chini Mills has fixed 10 August 2017 as the Record Date for the purpose of Payment of Interim Dividend.

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InterGlobe Aviation gains after good Q1 earnings
Aug 01,2017

The result was announced after market hours yesterday, 31 July 2017.

Meanwhile, the S&P BSE Sensex was down 7.41 points, or 0.02% to 32,507.53.

On the BSE, 1.56 lakh shares were traded in the counter so far, compared with average daily volumes of 52,222 shares in the past one quarter. The stock had hit a high of Rs 1,334 so far during the day, which is also a 52-week high for the counter. The stock had hit a low of Rs 1,270 so far during the day. The stock hit a 52-week low of Rs 790 on 11 August 2016.

The stock had outperformed the market over the past one month till 31 July 2017, rising 10.80% compared with 5.15% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 14.75% as against Sensexs 8.67% rise. The scrip had also outperformed the market in past one year, rising 32.53% as against Sensexs 16.11% rise.

The large-cap low-cost airliner has equity capital of Rs 361.68 crore. Face value per share is Rs 10.

InterGlobe Aviation said it reported the highest quarterly profit ever. The companys EBITDAR (earnings before finance income and cost, tax, depreciation, amortization and aircraft and engine rentals) rose 26.3% to Rs 19618 crore in Q1 June 2017 over Q1 June 2016.

The airline has a fleet of 135 planes including 22 A32neos and operates about 937 daily flights.

IndiGo said it has a cash balance of about Rs 10185 crore and free cash of about Rs 5189 crore. It had an aircraft debt of about Rs 2524 crore.

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RBI imposes penalty on Union Bank of India
Aug 01,2017

Union Bank of India announced that the Reserve Bank of India has imposed a penalty of Rs. 2 crore on the Bank for non-compliance with the directions issued by RBI on Know Your Customer (KYC) norms on examination of certain accounts with substantial transactions.

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Trent hits record high after strong Q1 earnings
Aug 01,2017

The result was announced after market hours yesterday, 31 July 2017.

Meanwhile, the S&P BSE Sensex was down 18.33 points, or 0.06% at 32,496.61. The S&P BSE Mid-Cap index was up 59.49 points, or 0.39% at 15,449.06.

High volumes were witnessed on the counter. On the BSE, 1.53 lakh shares were traded on the counter so far as against the average daily volumes of 19,812 shares in the past one quarter. The stock had hit a high of Rs 299.95 so far during the day, which is also its record high. The stock hit a low of Rs 276.05 so far during the day. The stock had hit a 52-week low of Rs 176.80 on 2 December 2016.

The stock had outperformed the market over the past one month till 31 July 2017, advancing 13.21% compared with the Sensexs 5.15% rise. The scrip had, however, underperformed the market over the past one quarter advancing 6.67% as against the Sensexs 8.68% rise. The scrip had, however, outperformed the market over the past one year advancing 46.74% as against the Sensexs 15.91% rise.

The mid-cap company has equity capital of Rs 33.23 crore. Face value per share is Rs 1.

Trent, a retail arm of the Tata group, operates retail chain Westside and bookstore chain Landmark in various locations of India. Trent also operates the hypermarket Star Bazaar in major cities.

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NTPC announces cessation of director
Aug 01,2017

NTPC announced that Anil Kumar Jha has ceased to be the Director (Technical) of NTPC on attaining superannuation on 31 July 2017 (A/N).

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Nikkei India Manufacturing PMI dips sharply in July 2017
Aug 01,2017

PMI survey data indicated that the introduction of the goods & services tax (GST) weighed heavily on the Indian manufacturing industry in July. New orders and output decreased for the first time since the demonetisation-related downturn recorded in December last year, with rates of contraction the steepest since February 2009 in both cases. Consequently, companies purchased fewer quantities of inputs for use in the production process, leading to an overall decline in holdings of raw materials and semi-finished items. Cost burdens increased further, but factory gate charges were lowered as firms attempted to win new business.

At 47.9 in July, down from 50.9 in June, the Nikkei India Manufacturing Purchasing Managers Index (PMI) was at its lowest mark since February 2009 and highlighted the first deterioration in business conditions in 2017 so far. The downturn was widespread across the three broad areas of manufacturing, with intermediate goods producers the worst affected.

Incoming new work dropped for the first time in the year-to-date and at the steepest pace since early- 2009. Anecdotal evidence indicated that the GST launch hampered demand. Different to the trend for total order books, new export orders continued to rise in July. That said, the rate of expansion softened from Junes eight-month high.

Lower sales triggered an overall accumulation in stocks of finished goods. The rise in holdings of manufactured products was marginal, but interrupted a two-year period of ongoing depletion.

Discouraged by the downturn in factory orders, companies lowered production in July. The fall ended a six-month sequence of growth, and the rate of reduction was the most pronounced since the global financial crisis.

Fewer output requirements caused a reduction in purchasing activity. Although moderate, the contraction in buying levels was the quickest in eight-and-a-half years. Subsequently, inventories of inputs decreased.

According to Indian manufacturers, higher tax rates sparked greater cost burdens in July. However, the pace at which input costs rose was moderate and much weaker than its long-run average. Reflecting attempts to win new business in the face of a competitive environment, some companies lowered their selling prices. Overall, the rate of discounting was marginal. Prior to July, charges had increased for 16 months in succession.

After having increased in June, payroll numbers fell in the current reporting month. But, with the vast majority of panellists signalling unchanged headcounts, the rate of job shedding was marginal overall.

The 12-month outlook for output remained positive in July, with companies expecting more clarity regarding the GST to support growth. New projects in the pipeline and improved product quality were also mentioned as reasons underpinning positive sentiment. The level of confidence was at an 11-month high.

Commenting on the Indian Manufacturing PMI survey data, Pollyanna De Lima, Principal Economist at IHS Markit and author of the report, said: Manufacturing growth in India came to a halt in July, with the PMI down to its lowest mark in almost eight-and-a-half years amid widespread reports that the sector has been adversely affected by the implementation of the goods and services tax. The reductions in output, new orders and purchasing activity were all the steepest since early-2009.

The downturn was broad-based across all sub-sectors covered by the survey, with output scaled back among firms in the consumer, intermediate and investment goods categories amid falling order books.

The weakening trend for demand, relatively muted cost inflationary pressures and discounted factory gate charges provide powerful tools for monetary policy easing, which has the potential to revive economic growth.

Upcoming PMI releases will show whether underlying conditions remain on the downside or if Julys contraction was a temporary blip. Goods producers foresee the latter, with panellists widely commenting that a lack of clarity regarding tax rates caused confusion among suppliers and manufacturers themselves when agreeing on prices. As such, businesses expect GST information to become clearer in coming months.

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Vantage Knowledge Academy schedules AGM
Aug 01,2017

Vantage Knowledge Academy announced that the 4th Annual General Meeting (AGM) of the company will be held on 30 September 2017.

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Kalyani Steels to discuss results
Aug 01,2017

Kalyani Steels will hold a meeting of the Board of Directors of the Company on 11 August 2017, to consider and approve the Unaudited Standalone Financial Results for the quarter ended 30th June 2017.

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VIP Clothing heads north after filing draft letter for rights issue
Aug 01,2017

The announcement was made after market hours yesterday, 31 July 2017.

Meanwhile, the S&P BSE Sensex was up 37.30 points, or 0.11% to 32,552.24. The S&P BSE Small-Cap index was up 30.19 points, or 0.19% to 16,123.75.

On BSE, so far 5,826 shares were traded in the counter as against an average daily volume of 1.64 lakh shares in the past one quarter. The stock hit a high of Rs 64.25 and a low of Rs 63.80 so far during the day. The stock had hit a 52-week high of Rs 74.25 on 2 August 2016. The stock had hit a 52-week low of Rs 42.25 on 22 November 2016.

The small-cap company has an equity capital of Rs 13.22 crore. Face value per share is Rs 2.

VIP Clothing said that the company has filed draft letter of offer for rights issue yesterday, 31 July 2017 with Securities & Exchange Board of India (Sebi), BSE and National Stock Exchange of India (NSE). The companys board at its meeting held on 22 April 2017 approved raising upto Rs 50 crore by rights issue of equity shares.

VIP Clothing reported net profit of Rs 1.11 crore in Q4 March 2017 as compared with net loss of Rs 7.53 crore in Q4 March 2016. Total income rose 53.55% to Rs 59.44 crore in Q4 March 2017 over Q4 March 2016.

VIP Clothing (formerly Maxwell Industries) is engaged in manufacturing and marketing of innerwear. The companys brands include VIP Innerwear, Frenchie, Frenchie X, and VIP Feelings and all of their sub brands.

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Bafna Pharmaceuticals to announce Quarterly Result
Aug 01,2017

Bafna Pharmaceuticals will hold a meeting of the Board of Directors of the Company on 8 August 2017.

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Ledo Tea Company announces board meeting date
Aug 01,2017

Ledo Tea Company will hold a meeting of the Board of Directors of the Company on 10 August 2017.

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Koa Tools India to discuss results
Aug 01,2017

Koa Tools India will hold a meeting of the Board of Directors of the Company on 31 July 2017.

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Control Print to convene AGM
Aug 01,2017

Control Print announced that the 26th Annual General Meeting (AGM) of the company will be held on 15 September 2017.

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Tara Jewels to hold board meeting
Aug 01,2017

Tara Jewels will hold a meeting of the Board of Directors of the Company on 10 August 2017.

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