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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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Dena Bank gets ratings revised
Aug 16,2017

Dena Banks Long term debt instruments, Lower Tier II Bonds (BAsel II Compliant) and Tier II Bonds (Basel III Compliant) were revised from CARE AA- Negative to CARE A+ Negative.

The Banks Additional Tier I Perpetual Bonds (Basel III Com pliant) and Perpetual Bonds (Basel II Compliant) were reaffirmed CARE BBB+ and CARE A respectively.

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PC Jewellers gets rating upgradation
Aug 16,2017

PC Jewellers has announced that the lon-term rating on the bank loan facilities of the Company is upgraded to CRISIL A+/Stable from CRISIL A/Stable and the short-term rating remains affirmed at CRISIL A1.

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Adhiraj Distributors to go for voluntary delisting
Aug 16,2017

The Board of Adhiraj Distributors at their meeting held on 16th August 2017 has recommended for Voluntary Delisting of the securities of the Company from SME- Institutional Trading Platform of the Bombay Stock Exchange.

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Volumes jump at Info Edge (India) counter
Aug 16,2017

Info Edge (India) clocked volume of 5.82 lakh shares by 13:59 IST on BSE, a 457.03-times surge over two-week average daily volume of 1,000 shares. The stock declined 1.93% at Rs 956.70.

VA Tech Wabag notched up volume of 3.1 lakh shares, a 22.2-fold surge over two-week average daily volume of 14,000 shares. The stock advanced 1.69% at Rs 633.60.

GTPL Hathway saw volume of 7.58 lakh shares, a 16.41-fold surge over two-week average daily volume of 46,000 shares. The stock was up 3.78% at Rs 147.

Gujarat Pipavav Port clocked volume of 10.01 lakh shares, a 9.65-fold surge over two-week average daily volume of 1.04 lakh shares. The stock rose 0.25% at Rs 140.60.

Gitanjali Gems saw volume of 9.65 lakh shares, a 9.52-fold rise over two-week average daily volume of 1.01 lakh shares. The stock advanced 2.67% at Rs 63.50.

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LKP Securities director resigns
Aug 16,2017

LKP Securities has announced that Mrs. Sangeeta Jhaveri an Independent Woman Director has resigned from the Board of the Company with effect from 14th August 2017.

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Vikas WSP gets first trial export order
Aug 16,2017

Vikas WSP has bagged an trial export order for US$.10,36,800.00 of newly developed Guar Gum binder for enhancing water stability of aquatic feeds to prevent fast disintegration of feed pallets.

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Godfrey Phillips India leads gainers on BSEs A group
Aug 16,2017

Godfrey Phillips India jumped 8.61% at Rs 991, with the stock jumping with other shares of tea companies. The stock topped the gainers in A group. On the BSE, 56,000 shares were traded on the counter so far as against the average daily volumes of 16,000 shares in the past two weeks.

Granules India surged 8.54% at Rs 126.40. The stock was the second biggest gainer in A group. On the BSE, 4.92 lakh shares were traded on the counter so far as against the average daily volumes of 1.67 lakh shares in the past two weeks.

Torrent Pharmaceuticals jumped 8.22% at Rs 1,318. The stock was the third biggest gainer in A group. On the BSE, 27,000 shares were traded on the counter so far as against the average daily volumes of 7,964 shares in the past two weeks.

National Aluminium Company rose 5.67% at Rs 69.90. The stock was the fourth biggest gainer in A group. On the BSE, 3.73 lakh shares were traded on the counter so far as against the average daily volumes of 6.02 lakh shares in the past two weeks.

Tata Global Beverages rose 6.41% at Rs 190.15 after the company said that the premium natural mineral water brand Himalayan will enter the USA market in a phased manner. The announcement was made on Tuesday, 15 August 2017, when market remained closed for holiday. The stock was the fifth biggest gainer in A group. On the BSE, 19.99 lakh shares were traded on the counter so far as against the average daily volumes of 3.28 lakh shares in the past two weeks.

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Majestic Research Services and Solutions updates on Acquisition
Aug 16,2017

Majestic Research Services and Solutions has completed the acquisition of 100% stake in Singapore based market research company i.e. Market Probe Asia Pacific Pte Ltd.

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Gartner Says Worldwide Information Security Spending Will Grow 7 Percent to Reach $86.4 Billion in 2017
Aug 16,2017

Worldwide spending on information security products and services will reach $86.4 billion in 2017, an increase of 7 percent over 2016, with spending expected to grow to $93 billion in 2018, according to the latest forecast from Gartner, Inc.

Within the infrastructure protection segment, Gartner forecasts fast growth in the security testing market (albeit from a small base) due to continued data breaches and growing demands for application security testing as part of DevOps. Spending on emerging application security testing tools, particularly interactive application security testing (IAST), will contribute to the growth of this segment through 2021.

Security services will continue to be the fastest growing segment, especially IT outsourcing, consulting and implementation services. However, hardware support services will see growth slowing, due to the adoption of virtual appliances, public cloud and software as a service (SaaS) editions of security solutions, which reduces the need for attached hardware support overall.

Rising awareness among CEOs and boards of directors about the business impact of security incidents and an evolving regulatory landscape have led to continued spending on security products and services, said Sid Deshpande, principal research analyst at Gartner.

However, improving security is not just about spending on new technologies. As seen in the recent spate of global security incidents, doing the basics right has never been more important. Organizations can improve their security posture significantly just by addressing basic security and risk related hygiene elements like threat centric vulnerability management, centralized log management, internal network segmentation, backups and system hardening, said Mr. Deshpande.

Other assumptions behind Gartners latest information security market forecast include:

The EU General Data Protection Regulation (GDPR) has created renewed interest, and will drive 65 percent of data loss prevention buying decisions today through 2018.

The EU General Data Protection Regulation (GDPR) has caused an overall panic and unease among organizations in Europe, but will also have a global effect since multinationals will also need to adhere to the new law. While organizations are working toward strengthening their knowledge of the regulation, those with some form of data loss prevention (DLP) already implemented are determining what additional capabilities they need to invest in (specifically, integrated DLP such as data classification, data masking and data discovery). In addition, organizations that do not already have strong DLP in place are looking to increase their capabilities.

By 2020, 40 percent of all managed security service (MSS) contracts will be bundled with other security services and broader IT outsourcing (ITO) projects, up from 20 percent today.

To deal with the complexity of designing, building and operating a mature security program in a short space of time, many large organizations are looking to security consulting and ITO providers that offer customizable delivery components that are sold with the MSS. As ITO providers and security consulting firms improve the maturity of the MSS they offer, customers will have a much broader range of bundling and service packaging options through which to consume MSS offerings. The large contract sizes associated with ITO and security outsourcing deals will drive significant growth for the MSS market through 2020.

By 2021, more than 80 percent of large businesses in China will deploy network security equipment from a local vendor.

Chinas recently approved cybersecurity law will contribute to further displacement of U.S.-manufactured network security products with local Chinese vendors. Despite an increase of 24 percent in 2016, Gartner expects end-user spending growth in Asia/Pacific to return to single-digit yearly growth from 2018 onward, as a result of a decline in average selling prices (ASPs), due to the more competitive pricing of Chinese solutions.

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Gaekwar Mills approves sub-division of equity shares
Aug 16,2017

The Board of Directors of Gaekwar Mills at the meeting held on 14th August 2017 has approved the sub-division of equity shares from face value of Rs.100 to Rs.10 per share.

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Vinati Organics fixes record date for buyback
Aug 16,2017

Vinati Organics has fixed 1st September 2017 as the record date for the purpose of buyback of equity shares of the Company.

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States participating in UDAY take over targeted debt of Rs. 2.09 lakh crores of their DISCOMs
Aug 16,2017

Ujwal DISCOM Assurance Yojana (UDAY) was launched in November, 2015 and has completed more than one year of operation. Participating States of UDAY have taken over the targeted debt of Rs. 2.09 lakh crores of their DISCOMs under borrowing exemption from the FRBM Act given in UDAY for the years 2015-16 and 2016-17.

The process of States taking over the targeted debts and issuing them as SDL Bonds has now been completed. As of now, the participating DISCOMs have to issue Bonds worth approximately Rs. 37,000 crores, which would be done in due course. Rest of the debt with DISCOMs is mostly in the nature of CAPEX debt, which pays for itself, or Scheme based debt, which converts into grants fully or partially. Thus, they are not required to be taken over by the States.

As a result of the debt addressed as above, and other operational interventions, the participating DISCOMs have achieved net savings of approximately Rs. 15,000 Crores till March, 2017. Further, in the participating States, the Average Cost of Supply (ACS) - Average Revenue Realized (ARR) gaps have come down by almost 14 paise per Unit and the AT&C losses have reduced by almost 1% in FY 17.

As per the provisions of UDAY Scheme, the States would start taking over losses of DISCOMs in a graded manner from now on, starting with taking over 5% of the losses of FY17 from the current financial year. Continued, concerted and coordinated efforts by the Centre, States and DISCOMs, in the spirit of cooperative and competitive federalism, would help turn around the Distribution Sector by FY19.

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Ujaas Energy tumbles after uninspiring Q1 results
Aug 16,2017

The result was announced after market hours on Monday, 14 August 2017.

Meanwhile, the S&P BSE Sensex was up 137.59 points or 0.44% at 31,586.62. The S&P BSE Small-Cap index rose 138.07 points or 0.9% at 15,547.27.

On the BSE, 1.53 lakh shares were traded on the counter so far as against the average daily volumes of 1.63 lakh shares in the past one quarter. The stock had hit a high of Rs 25.40 and a low of Rs 23 so far during the day. The stock had hit a record high of Rs 52.25 on 16 December 2016 and a 52-week low of Rs 19.40 on 29 September 2016.

The stock had underperformed the market over the past one month till 14 August 2017, sliding 8.26% compared with the Sensexs 1.79% fall. The stock had also underperformed the market over the past one quarter, declining 33.38% as against the Sensexs 4.18% rise. The scrip had also underperformed the market over the past one year, advancing 3.38% as against the Sensexs 11.71% rise.

The small-cap company has equity capital of Rs 20 crore. Face value per share is Rs 1.

Ujaas Energy is engaged in solar power plant operation business, and manufacturing and sale of solar power system.

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Zydus receives final approval for Tiadylt ER Capsules & Azelastine Hydrochloride Nasal Spray
Aug 16,2017

Zydus Cadila has on 16 August 2017 got final approval from the USFDA to market Tiadylt ER Capsules in stregths of 120 mg, 180 mg, 240 mg, 300 mg, 360 mg and 420 mg, and also to market Azelastine Hydrochloride Nasal Spray 137 mg.

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RBL Bank completes capital raising
Aug 16,2017

RBL Bank on 14th august 2017 announced that pursuant to the approval from its Board of Directors and Shareholders has successfully completed the capital infusion of Rs. 1680 Crore from a set of marquee investors.

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