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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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Mahindra & Mahindra Financial drops on weak Q4 results
Apr 26,2017

The result was announced after market hours yesterday, 25 April 2017.

Meanwhile, the S&P BSE Sensex was up 135.24 points or 0.45% at 30,078.48.

On the BSE, 98,054 shares were traded in the counter so far as against average daily volume of 1.95 lakh shares in the past one quarter. The stock had hit a high of Rs 347.75 and a low of Rs 336.10 so far during the day. The stock had hit a record high of Rs 405 on 4 October 2016. The stock had hit a 52-week low of Rs 244.35 on 27 December 2016.

The stock had outperformed the market over the past one month till 25 April 2017, gaining 6.24% compared with the Sensexs 1.77% rise. The scrip had also outperformed the market in past one quarter, surging 19.16% as against Sensexs 8.07% rise.

The large-cap company has equity capital of Rs 113.75 crore. Face value per share is Rs 2.

During the quarter ended 31 March 2017, the total value of asset financed was Rs 8376 crore as against Rs 6811 crore during the quarter ended 31 March 2016, a value growth of 23%.

Mahindra & Mahindra Financial Services, part of the Mahindra Group, is one of Indias leading non-banking finance companies.

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EID Parry (India) provides update on scheme of amalgamation
Apr 26,2017

EID Parry (India) announced that following NCLT sanctioning the scheme of amalgamation of the Companys subsidiary, Parrys Sugar Industries with EID Parry (India ), the Company has filed on 25 April 2017 e-form No INC 28 with the Registrar of Companies, Chennai along with the Certified True Copy of the sanction Order. As Parrys Sugar Industries has also filed the e-form No INC 28 with the Registrar of Companies, Bengaluru, the Scheme has become effective from 25 April 2017 with the appointed date of 01 April 2016.

Consequent to the Scheme becoming effective, the authorized share capital of the Company stands increased from Rs 2,62,50,00,000/- (Rupees Two Hundred and Sixty Two Crores Fifty Lakhs Only) to Rs 4,37,50,00,000/-. The increase represents the authorized share capital of the Transferor Company, Parrys Sugar Industries. This has been effected in clause v of the memorandum of association of the Company.

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Va Tech Wabag provides update on subsidiary
Apr 26,2017

Va Tech Wabag announced that VA Tech Wabag (Spain) S.L.U, Spain, the Companys wholly owned subsidiary is liquidated.

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PFRDA smoothens the Process of Registration of Retirement Advisers
Apr 26,2017

In order to smoothen the process of registration of Retirement Advisers, Pension Fund Regulatory and Development Authority (PFRDA) has transformed the process of submitting application from physical mode to online mode.

The applicants can now submit their application online and upload scanned images of all the required documents. This will reduce the application processing time. PFRDA is registering Retirement Advisers for widening the coverage of NPS by facilitating on boarding of the subscribers and also providing advisory services to them for allocating assets under NPS and choosing Pension Fund Managers.

n++Retirement Advisern++ can be any individual, registered partnership firm, body corporate, or any registered trust or society, which desires to engage in the activity of providing advice on National Pension System or other pension schemes regulated by PFRDA to prospects / existing subscribers or other persons or group of persons and is registered as such under the PFRDA (Retirement Advisers) Regulations.

NISM and FPSB India are providing necessary certification in order to become eligible for registration as Retirement Adviser. However, Investment Advisers registered with SEBI are exempted from the requirement of such certifications and they can directly submit their application to PFRDA for registration.

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Mahindra & Mahindra intimates of new subsidiary - Mahindra Automotive North America Inc., USA
Apr 26,2017

Mahindra & Mahindra announced that Mahindra Overseas Investment Company (Mauritius), a wholly owned subsidiary of the Company, has acquired 100% of the Equity Share Capital of Mahindra Automotive North America Inc. (MANA) in USA. In view of this, MANA has become a wholly owned subsidiary of MOICML and in turn, of the Company with effect from 25 April 2017.

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Wipro climbs up after reporting good Q4 results
Apr 26,2017

The result was announced after market hours yesterday, 25 April 2017. The result was announced as per International Financial Reporting Standards.

Meanwhile, the S&P BSE Sensex was up 104.09 points, or 0.35%, to 30,047.33.

On the BSE, so far 2.95 lakh shares were traded in the counter, compared with average daily volumes of 4.3 lakh shares in the past one quarter. The stock had hit a high of Rs 513 and a low of Rs 497.50 so far during the day. The stock had hit a 52-week high of Rs 577.50 on 13 July 2016. The stock had hit a 52-week low of Rs 410 on 9 November 2016.

Abidali Z. Neemuchwala, Chief Executive Officer and Member of the Board, said that the company is confident that the recovery in energy and utilities and demonstrated strength in digital will help improve growth trajectory during the course of the current financial year.

In its outlook, Wipro expects revenues from its IT services business to be in the range of $1915 million to $1955 million for the Q1 June 2017.

The board recommended 1:1 bonus issue.

Wipro is a leading information technology, consulting and business process services company that delivers solutions to enable its clients do business better.

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Brigade Enterprises opens QIP issue
Apr 26,2017

Brigade Enterprises announced that the Committee of Directors of the Company on 25 April 2017 has passed the following resolutions -

Authorising the opening of QIP on 25 April 2017.

Approving and adopting the preliminary placement document dated 25 April 2017 in connection with the QIP.

Approval of the floor price for the QIP.

Relevant data for QIP is 25 April 2017. Floor price is Rs 239.20 per equity share.

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Dilip Buildcon incorporates three SPV companies
Apr 26,2017

Dilip Buildcon has incorporated three separate SPV companies for the respective projects of National Highways Authority of India in a single stretch in the state of Maharashtra.

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Wipro may gain on good Q4 results
Apr 26,2017

Wipros consolidated net profit rose 7.2% to Rs 2267 crore on 4.86% rise in total income to Rs 15033.80 crore in Q4 March 2017 over Q3 December 2016. The result was announced after market hours yesterday, 25 April 2017.

Abidali Z. Neemuchwala, Chief Executive Officer and Member of the Board said that the company is confident that the recovery in energy and utilities and demonstrated strength in digital will help improve growth trajectory during the course of the current financial year.

LIC Housing Finances net profit rose 18.12% to Rs 529.18 crore on 11.85% rise in total revenue to Rs 3661.86 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 25 April 2017.

Axis Bank announces Q4 results today, 26 April 2017.

Mahindra & Mahindra (M&M) annoucned that Mahindra Overseas Investment Company (Mauritius) (MOICML), a wholly owned subsidiary of the company, has acquired 100% of the equity share capital of Mahindra Automotive North America Inc. (MANA) in USA. In view of this, MANA has become a wholly owned subsidiary of MOICML and in turn, of the company with effect from 25 April 2017. The announcement was made after market hours yesterday, 25 April 2017.

Adani Ports and Special Economic Zone (APSEZ), achieved a new milestone in the ports infrastructure industry in India, with a strategic collaboration with CMA Terminals (CMAT) - part of the France based CMA CGM group, owner of one of the worlds leading Container Carriers and port operators.

Pursuant to a joint venture agreement signed in July 2014 between APSEZ and CMAT, now marked a watershed moment, when these two conglomerates operationalised the new container terminal named Adani CMA Mundra Terminal Private Limited (ACMTPL).

The establishment of this brand new state-of-the-art container terminal offers Indias trade with another world class facility on the West coast of India, strategically located in closer proximity to the vast North and Central Indian hinterlands. The relatively advantageous location has made Mundra port ideally poised to position itself as the major gateway port forthe Indias western coast.

This new container terminal, which is now operational has been commissioned three months ahead of schedule, will serve to showcase the strengthening national ties between Indian and French economies and is a great initiative between a leading India conglomerate and global shipping and ports company. The announcement was made after market hours yesterday, 25 April 2017.

Seshasayee Paper and Boards informed that revenue officials of the Tirunelveli District, Tamil Nadu, have temporally suspended drawal of water from River Thamirabharani for industrial use including the companys unit at Tirunelveli from 1 May 2017. The announcement was made after market hours yesterday, 25 April 2017.

Dilip Buildcon announced that three separate special purpose vehicles (SPV) companies have been incorporated for the respective projects after the receipt of letter of award from the National Highways Authority of India (Ministry of Road Transport & Highways, Government of India) for three projects in a single stretch in Maharashtra as announced in March. The announcement was made before market hours today, 26 April 2017.

VA Tech Wabag announced that VA Tech Wabag (Spain) S.L.U, Spain, the companys wholly owned subsidiary is liquidated. The announcement was made after market hours yesterday, 25 April 2017.

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Indian Hotels Co announces resignation of director
Apr 25,2017

Indian Hotels Co announced that Shapoor Mistry has resigned as a Director of the Company with immediate effect.

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HCL Technologies allots 39,240 equity shares
Apr 25,2017

HCL Technologies has allotted 39,240 Equity Shares of Rs.2/- each, bearing distinctive No(s). 1,42,69,05,345 to 1,42,69,44,584 under the 2004 Stock Option Plan of the Company on 25 April 2017. Consequent to the said allotment, the paid-up share capital of the Company has gone up to 1,42,69,44,584 equity shares of Rs.2/- each aggregating to Rs. 2,85,38,89,168 /-.

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Tata Consultancy Services fixes record date for buyback of shares
Apr 25,2017

Tata Consultancy Services has fixed 08 May 2017 as record date for the purpose of determining the entitlement and the names of the Equity Shareholders who shall be eligible to participate in the buyback offer of the Company.

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Kewal Kiran Clothing to pay interim dividend
Apr 25,2017

Kewal Kiran Clothing announced that interim dividend will be paid on 12 May 2017.

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Kewal Kiran Clothing fixes record date for interim dividend
Apr 25,2017

Kewal Kiran Clothing has fixed 08 May 2017 as record date for interim dividend for FY 2017-18.

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Rajkumar Forge gets ratings assigned for bank facilities
Apr 25,2017

Rajkumar Forge has been assigned the following ratings to the Companys bank facilities by India Ratings and Research -

Fund based working capital facilities (Rs 5 crore) - IND A-(SO)/ Stable
Post Shipment demand loan (Rs 5 crore) - IND A-(SO)/ Stable
Non fund based working capital facilities (Rs 2.75 crore) - IND A2+(SO)
Term loan (Rs 2.25 crore) - IND A-(SO)/ Stable

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