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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 Siemens approves sale and transfer of SLWP Business
Dec 05,2016

Siemens announced that the Board of Directors of the Company at its meeting held on 05 December 2016 has approved the sale and transfer of the Companys business of engineering, design and development services for global wind power business (hereinafter referred to as SLWP Business) to a subsidiary (to be incorporated) of Siemens Wind HoldCo Sociedad Limitada (SA), Spain, which in turn is a subsidiary of Siemens AG, Germany (SAG), as going concern on a slump sale basis with effect from 01 January 2017 for a cash consideration of Rs 7.5 crore. The said transaction is subject to requisite approvals from statutory and regulatory approvals.

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McNally Bharat Engineering Company to announce September quarter results
Dec 05,2016

McNally Bharat Engineering Company announced that a Meeting of the Board of Directors of the Company will be held on 14 December 2016 to take on record the Unaudited Financial Result for the quarter ended 30 September 2016 of the Company.

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MSP Steel & Power to announces Q2 and HY results
Dec 05,2016

MSP Steel & Power announced that a meeting of the Board of Directors of the Company is scheduled to be held on 14 December 2016, inter alia, to consider, approve, and take on record the Unaudited Standalone Financial Results of the Company for the second quarter and half year ended on 30 September 2016.

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Board of Surana Corporation to consider Q2 and HY results
Dec 05,2016

Surana Corporation announced that a meeting of the Board of Directors of the Company is scheduled to be held on 12 December 2016, inter-alia to consider and approve the Unaudited financial results for the 2nd Quarter and Six Months ended 30 September 2016.

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A2Z Infra Engg advances after bagging contract
Dec 05,2016

The announcement was made after market hours on Friday, 2 December 2016.

Meanwhile, the S&P BSE Sensex was up 73.64 points or 0.28% at 26,304.30.

On the BSE, 2.37 lakh shares were traded on the counter so far as against the average daily volumes of 2.88 lakh shares in the past one quarter. The stock had hit a high of Rs 41.60 and a low of Rs 40.50 so far during the day.

The stock had hit a 52-week high of Rs 51.65 on 1 November 2016 and a 52-week low of Rs 16.50 on 12 February 2016. It had underperformed the market over the past one month till 1 December 2016, sliding 16.82% compared with the Sensexs 4.72% fall. The scrip had, however, outperformed the market in past one quarter, advancing 5.61% as against the Sensexs 6.56% fall.

The small-cap company has equity capital of Rs 129.62 crore. Face value per share is Rs 10.

A2Z Infra Engineering said that contract is for construction of 132 KV S/S Pakhanjur and associates extra high voltage (EHV) line on turnkey basis TR-16/05 for value of Rs 35.25 crore.

A2Z Infra Engineering reported net loss of Rs 16.65 crore in Q2 September 2016, higher than net loss of Rs 8.40 crore in Q2 September 2015. The companys net sales declined 42.7% to Rs 149.38 crore in Q2 September 2016 over Q2 September 2015. The result was announced before market hours on Friday, 2 December 2016.

A2Z Infra Engineering (formerly known as A2Z Maintenance & Engineering Services) is a fast growing, fully integrated electrical business group (EBG) in India catering to the needs of domestic and international power sector clients in building distribution and transmission infrastructure.

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Board of Sita Shree Food Products approves QIP issue of upto Rs 20 crore
Dec 05,2016

Sita Shree Food Products announced that a meeting of the Board of Directors of the Company is held on 05 December 2016, the board have approved raising of funds through Qualified-Institutions Placement of equity shares / Convertible securities or such other securities in one or more tranches upto Rs. 20 crore subject to approval of members in general meeting and in compliance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements] Regulations, 2009 and the Companies Act, 2013 and the rules made thereunder.

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Board of Rohit Ferro Tech to consider September quarter results
Dec 05,2016

Rohit Ferro Tech announced that a meeting of the Board of Directors of the Company will be held on 14 December 2016, inter alia, to consider and approve the Un-audited Financial Results of the Company for the Quarter ended 30 September 2016.

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SSWL gains after bagging repeat caravan wheels order
Dec 05,2016

The announcement was made during market hours today, 5 December 2016.

Meanwhile, the S&P BSE Sensex was up 116.29 points or 0.44% at 26,346.95.

On the BSE, 8,632 shares were so far traded in the counter as against average daily volume of 11,097 shares in the past one quarter. The stock had hit a high of Rs 630 and a low of Rs 612 so far during the day. The stock had hit a record high of Rs 775 on 14 October 2016. The stock had hit a 52-week low of Rs 284 on 17 February 2016.

The stock had underperformed the market over the past one month till 2 December 2016, falling 8.05% compared with Sensexs 4.71% fall. The scrip had, however, outperformed the market in past one quarter, gaining 6.47% as against Sensexs 8.07% drop.

The small-cap company has equity capital of Rs 15.53 crore. Face value per share is Rs 10.

Steel Strips Wheels (SSWL) said that total order covers supplies of about 23,000 wheels in a period of four months. The orders comprise of mix of 13 inch and 14 inch steel wheels to be supplied from SSWLs Chennai plant with shipments starting from this month.

The order further augments SSWLs strong presence in the extremely competitive European Union (EU) caravan steel wheels market.

Net profit of Steel Strips Wheels rose 19.9% to Rs 18.02 crore on 2.8% decline in net sales to Rs 290.95 crore in Q2 September 2016 over Q2 September 2015.

SSWL designs and manufactures automotive steel wheels and is among the leading supplier to Indian and global automobile manufacturers.

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Volumes jump at Whirlpool of India counter
Dec 05,2016

Whirlpool of India clocked volume of 2.58 lakh shares by 14:22 IST on BSE, a 38.02-times surge over two-week average daily volume of 7,000 shares. The stock fell 3.22% at Rs 887.

Power Grid Corporation of India notched up volume of 42.92 lakh shares, a 11.08-fold surge over two-week average daily volume of 3.87 lakh shares. The stock was down 0.6% at Rs 182.75.

Jamna Auto Industries saw volume of 3.87 lakh shares, a 9.02-fold surge over two-week average daily volume of 43,000 shares. The stock declined 0.96% at Rs 169.70.

Healthcare Global Enterprises clocked volume of 2.62 lakh shares, a 7.23-fold surge over two-week average daily volume of 36,000 shares. The stock fell 0.1% at Rs 248.95.

Crompton Greaves saw volume of 15.99 lakh shares, a 6.6-fold rise over two-week average daily volume of 2.42 lakh shares. The stock slumped 8.67% at Rs 69.50.

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Crompton Greaves leads losers in A group
Dec 05,2016

Crompton Greaves slumped 8.61% to Rs 69.55 at 13:45 IST. The stock topped the losers in the BSEs A group. On the BSE, 13.53 lakh shares were traded on the counter so far as against the average daily volumes of 2.42 lakh shares in the past two weeks.

Unitech skidded 5.22% at Rs 4.54. The stock was second biggest loser in A group. On the BSE, 52.27 lakh shares were traded on the counter so far as against the average daily volumes of 28.68 lakh shares in the past two weeks.

BF Utilities lost 3.45% to Rs 413.05. The stock was third biggest loser in A group. On the BSE, 87,000 shares were traded on the counter so far as against the average daily volumes of 84,000 shares in the past two weeks.

PVR declined 3.2% at Rs 1,065. The stock was fourth biggest loser in A group. On the BSE, 2,640 shares were traded on the counter so far as against the average daily volumes of 8,114 shares in the past two weeks.

Jubilant FoodWorks fell 2.95% to Rs 848.10. The stock was fifth biggest loser in A group. On the BSE, 37,000 shares were traded on the counter so far as against the average daily volumes of 32,000 shares in the past two weeks.

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Colgate-Palmolive (India) to pay 2nd interim dividend
Dec 05,2016

Colgate-Palmolive (India) announced that the 2nd interim dividend for financial year ending 31 March 2017 will be paid on 27 December 2016.

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Board of Colgate-Palmolive (India) declares 2nd interim dividend
Dec 05,2016

Colgate-Palmolive (India) announced that the Board of Directors of the Company, at their Meeting held on 05 December 2016, declared a second interim dividend of Rs. 3/- (Rupees Three only) per equity share of Re. 1 / - (face value) for the financial year ending 31 March2017. The said interim dividend will be paid on the paid-up equity share capital of Rs. 27.20 crore involving a total pay-out of Rs.98.22 Crore [including dividend distribution tax].

Further, the said interim dividend declared by the Board at their Meeting held on 05 December 2016 will be paid on 27 December 2016.

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Galaxy Entertainment Corporation to announces Q2 and HY results
Dec 05,2016

Galaxy Entertainment Corporation announced that a meeting of the Board of Directors of the Company is scheduled to be held on 14 December 2016, inter alia, to consider and approve the un-audited financial results of the Company for the second quarter and half year ended 30 September 2016 of the financial year ending 31 March 2017.

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Future Market Networks to announces Q2 and HY results
Dec 05,2016

Future Market Networks announced that a meeting of the Board of Directors of the Company is scheduled to be held on 14 December 2016, inter alia, to consider and approve the un-audited financial results of the Company for the second quarter and half year ended 30 September 2016 of the financial year ending 31 March 2017.

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Board of JMT Auto to consider September quarter and half year results
Dec 05,2016

JMT Auto announced that a meeting of the Board of Directors of the Company shall be held on 12 December 2016, inter alia, to consider and approve the Un-audited Financial Results of the Company for the quarter/half-year ended 30 September 2016 in accordance with Regulation 29 and 33 read with Regulation 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015.

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