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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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Board of D B Realty appoints director
Dec 12,2016

D B Realty announced that the meeting of the Board of Directors of the Company held on 09 December 2016 Sundaram Rajagopal has been appointed as Independent Director on the Board subject to approval and ratification by the members in the next General Meeting.

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Board of Infinite Computer Solutions India approves buyback price and offer
Dec 12,2016

Infinite Computer Solutions India announced that the Board of Directors of the Company at their meeting held on 09 December 2016, inter-alia approved the following:

1. Rs.265/- (Rupees Two Hundred Sixty Five Only) per share of face value Rs.10/- each as the final Buyback Price and the total number of equity shares to be bought back under the Buyback Offer would be 5,660,000 Fully Paid-up equity shares, representing 14.62% of the total Paid-up equity share capital of the company.

2. Rs. 149.99 crore (Rupees One Hundred Forty Nine Crores and Ninety Nine lacs Only) as the size of Buyback Offer, excluding transaction cost, viz., brokerage, applicable taxes such as securities transaction tax, service tax, stamp duty, etc., cost for the intermediaries appointed for the Buyback and other incidental costs, which is 24.77% of the Paid-up equity share capital and free reserves of the company for the Financial Year ended 31 March 2016.

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Lanco Infratech provides update on sale of solar power undertaking
Dec 12,2016

Lanco Infratech announced that the Board of Directors approved the sale of Solar Power Undertaking of the Company comprising 35MW by way of slump sale to its wholly owned subsidiary. The said transaction was proposed to be completed on or before 30 September 2016.

In this regard, the Company informed that the said Slump Sale Transaction is yet to be consummated due to pending approvals from Government Authorities and Lenders.

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Ellenbarrie Industrial Gases director resigns
Dec 12,2016

Ellenbarrie Industrial Gases announced that Anindita Guhamallick, Independent Director of the Company has resigned from the Board due to personal difficulty with effect from 04 October 2016.

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Maithan Alloys provides operations update
Dec 12,2016

Maithan Alloys has resumed production at full capacity at its Kalyaneshwari plant.

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Board of Toheal Pharmachem accept resignation of company secretary
Dec 12,2016

Toheal Pharmachem announced that the board of Directors of the Company at its meeting held on 10 December 2016 accepted the resignation of company secretary.

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Sabrimala Leasing And Holdings announces resignation of directors
Dec 12,2016

Sabrimala Leasing And Holdings announced that Directors of the Company, Ankur Garg, Arvind Kumar Singh and Seema Gupta have resigned from the Board w.e.f. 10 December 2016 due to their pre occupation.

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Tata Motors drops after group global wholesales rises slightly in November
Dec 12,2016

The announcement was made after market hours on Friday, 9 December 2016.

Meanwhile, the S&P BSE Sensex was down 141.16 points or 0.53% at 26,606.02.

On the BSE, 23,740 shares were traded on the counter so far as against the average daily volumes of 5.98 lakh shares in the past one quarter. The stock had hit a high of Rs 463.50 and a low of Rs 456.65 so far during the day. The stock had hit a 52-week high of Rs 598.60 on 7 September 2016 and a 52-week low of Rs 266 on 11 February 2016.

The stock had underperformed the market over the past one month till 9 December 2016, falling 13.16% compared with the Sensexs 1.85% fall. The scrip had also underperformed the market in past one quarter, declining 19.01% as against the Sensexs 7.12% fall.

The large-cap company has equity capital of Rs 577.44 crore. Face value per share is Rs 2.

Tata Motors said that global wholesales of all passenger vehicles rose 5% to 64,862 units in November 2016 over November 2015. Global wholesales of all Tata Motors commercial vehicles and Tata Daewoo range fell 7% to 26,970 units in November 2016 over November 2015.

Tata Motors reported consolidated net profit of Rs 848.16 crore in Q2 September 2016, compared with net loss of Rs 1740.20 crore in Q2 September 2015. Net sales rose 6.7% to Rs 65140.75 crore in Q2 September 2016 over Q2 September 2015.

Tata Motors is a market leader in commercial vehicles in India. The companys British unit JLR sells premium luxury cars.

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Hind Rectifiers provides update on change in promoter shareholder
Dec 12,2016

Hind Rectifiers announced that Suramya Nevada (belongs to promoter group) acquired 1423959 equity shares (9.46%) by way of transmission due to death of Uma Nevada, Promoter and Executive Vice Chairperson (Whole Time Director) of the Company.

After this transmission Suramya Nevadas total holding in the Company is 1716209 equity shares (11.40%).

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Hind Rectifiers provides update on change in promoter shareholding
Dec 12,2016

Hind Rectifiers announced that Suramya Nevada (belongs to promoter group) acquired 1423959 equity shares (9.46%) by way of transmission due to death of Uma Nevada, Promoter and Executive Vice Chairperson (Whole Time Director) of the Company.

After this transmission Suramya Nevadas total holding in the Company is 1716209 equity shares (11.40%).

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Board of Polyspin Exports to consider cessation of director
Dec 12,2016

Polyspin Exports announced that the Meeting of the Board Directors will be held on 17 December 2016, inter alia:

- To record the cessation of Director S. Renganthan who expired on 21 November 2016.

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Shares of Aditya Vision get listed
Dec 12,2016

The equity shares of Aditya Vision (Scrip Code: 540205) are listed effective 12 December 2016 and admitted to dealings on the Exchange in the list of M Group Securities.

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Board of Kings Infra Ventures allots equity shares on conversion of warrants
Dec 12,2016

The Board of Directors of Kings Infra Ventures at its meeting held on 10 December 2016 has allotted 2595000 equity shares on conversion of convertible warrants issue on preferential basis.

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Ideal Texbuild announces new corporate office
Dec 12,2016

Ideal Texbuild announced that the Company have resolved to make the following address as new corporate office address of the company:

Krishna bhavan,3rd Floor, Above Dena Bank,67,Nehru Road,Opp. Green Park Hotel,Ville parle,
Mumbai-400057

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Board of Gujarat NRE Coke approves reset of conversion price of FCCBs
Dec 12,2016

Gujarat NRE Coke announced that the Board of Directors of the Company at its meeting held on 10 December 2016, inter alia, has :

Pursuant to the approval of shareholders and bondholders, approved to reset the conversion price of 5.50% Foreign Currency Convertible Bonds (FCCBs) issued in 2012 from Rs. 22.50 per equity share to Rs. 12/- per equity share, subject to approval of other regulatory authorities.

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