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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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Shalimar Paints to hold board meeting
Jun 23,2017

Shalimar Paints will hold a meeting of the Board of Directors of the Company on 29 June 2017.

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UV Boards to hold board meeting
Jun 23,2017

UV Boards will hold a meeting of the Board of Directors of the Company on 26 June 2017.

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Stampede Capital to hold board meeting
Jun 23,2017

Stampede Capital will hold a meeting of the Board of Directors of the Company on 27 June 2017.

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Sky Industries to hold board meeting
Jun 23,2017

Sky Industries will hold a meeting of the Board of Directors of the Company on 29 June 2017.

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Bullions turn bright
Jun 23,2017

Bullion prices ended higher at Comex on Thursday, 22 June 2016. Gold tallied back-to-back session on Thursday, as the precious metal tried to clamber off five-week lows struck earlier this week.

August gold added $3.60, or 0.3%, to settle at $1,249.40 an ounce after tacking on about 0.2% a day earlier. That was the highest settlement since Friday and it comes just three days after the contract finished Tuesday at its lowest since May 16. ,

July silver gained 13.5 cents, or 0.8%, to $16.509 an ounce.

The closely watched dollar index traded little changed as gold prices closed, lessening the currency-related headwind for commodities priced in the currency, including gold. A stronger dollar tends to make assets pegged to the buck more expensive to buyers using other monetary units. U.S. equities, meanwhile, traded mostly higher after an earlier struggle for direction.

Gold came under pressure earlier in the week, and that downbeat tone continues to cloud the market, as recent comments from Federal Reserve officials raised expectations for further increases in interest rates this year. Higher rates dull the demand for gold in favor of investments that do offer a yield.

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Reliance Defence extends gains
Jun 23,2017

Meanwhile, the S&P BSE Sensex was down 74.46 points or 0.24% at 31,216.28. The S&P BSE Mid-Cap index declined 197.39 points or 1.34% at 14,565.68.

On the BSE, 6.37 lakh shares were traded on the counter so far as against the average daily volumes of 6.67 lakh shares in the past one quarter. The stock had hit a high of Rs 62.85 and a low of Rs 61 so far during the day. The stock had hit a 52-week high of Rs 72.85 on 1 August 2016 and a 52-week low of Rs 48.40 on 22 November 2016.

The stock had underperformed the market over the past one month till 22 June 2017, sliding 5.51% compared with the Sensexs 2.35% rise. The stock had also underperformed the market over the past one quarter, gaining 2.21% as against the Sensexs 7.28% rise. The scrip had also underperformed the market over the past one year, sliding 4.99% as against the Sensexs 16.91% rise.

The mid-cap company has equity capital of Rs 737.59 crore. Face value per share is Rs 10.

Shares of Reliance Defence and Engineering have risen 7.65% in two trading sessions to its ruling price, from its closing of Rs 56.85 on 21 June 2017 after the company announced after market hours on 21 June 2017 that it has successfully delivered a bulk carrier to an international customer. The stock had risen 5.54% to settle at Rs 60 yesterday, 22 June 2017.

Reliance Defence and Engineering successfully delivered a 73,500 dead weight tonne (DWT) new-built Ice-class Panamax Bulk Carrier to an international customer on 21 June 2017.

Reliance Defence and Engineering reported net loss of Rs 139.92 crore in Q4 March 2017, compared with net profit of Rs 102.44 crore in Q4 March 2016. Net sales rose 140.6% to Rs 227.89 crore in Q4 March 2017 over Q4 March 2016.

Reliance Defence and Engineering (RDEL) has a large ship building/repair infrastructure in India. It has one of the largest dry docks in the world.

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Coromandel International allots 81,150 equity shares
Jun 23,2017

Coromandel International has allotted 81,150 equity shares under ESOP.

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Indian Metals & Ferro Alloys intimates of reinstatement of Consent to Operate for its mines
Jun 23,2017

Indian Metals & Ferro Alloys announced that the State Pollution Control Board has reinstated the Consent to Operate for both its Sukinda and Mahagiri Mines with immediate effect and valid as before until March 2021.

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Deep Industries advances after winning contract
Jun 23,2017

The announcement was made during market hours today, 23 June 2017.

Meanwhile, the S&P BSE Sensex was down 53.84 points, or 0.17% at 31,236.90. The S&P BSE Small-Cap index was down 195.05 points or 1.25% at 15,414.44.

On the BSE, 4,943 shares were traded on the counter so far as against the average daily volumes of 1.77 lakh shares in the past one quarter. The stock had hit a high of Rs 285 and a low of Rs 280.05 so far during the day. The stock had hit a record high of Rs 343.70 on 30 March 2017 and a 52-week low of Rs 162.05 on 24 June 2016.

The stock had dropped 8.68% in four sessions to Rs 278.15 yesterday, 22 June 2017 from a close of Rs 304.60 on 16 June 2017.

The stock had underperformed the market over the past one month till 22 June 2017, falling 9.07% compared with Sensexs 2.35% gains. The scrip had also underperformed the market in past one quarter, dropping 15.08% as against Sensexs 7.28% rise. The scrip had, however, outperformed the market in past one year, gaining 58.76% as against Sensexs 16.91% rise.

The small-cap company has equity capital of Rs 32 crore. Face value per share is Rs 10.

Deep Industries said that the contract is for securing the services of 30 tons workover rig to be deployed in ONGC coal bed methane (CBM) asset, Bokaro. The tenure of the contract is one year and the total estimated value of the contract is Rs 3.72 crore.

Deep Industries net profit spurted 81.2% to Rs 23.23 crore on 36.5% increase in net sales to Rs 74.90 crore in Q4 March 2017 over Q4 March 2016.

Deep Industries is engaged in business of oil and gas services, exploration and production.

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Biocon to pay dividend
Jun 23,2017

Biocon announced that dividend will be paid on or before 04 August 2017.

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DFM Foods declines after recent sharp rally
Jun 23,2017

Meanwhile, the S&P BSE Sensex was down 57.88 points, or 0.18% at 31,232.86. The S&P BSE Small-Cap index was down 194.63 points, or 1.25% at 15,414.86.

On the BSE, 1,627 shares were traded on the counter so far as against the average daily volumes of 9,106 shares in the past one quarter. The stock had hit a high of Rs 1,430 and a low of Rs 1,375.60 so far during the day. The stock had hit a 52-week high of Rs 2,355 on 1 July 2016 and a 52-week low of Rs 1,122 on 7 June 2017.

The stock had underperformed the market over the past one month till 22 June 2017, declining 10.88% compared with the Sensexs 2.35% rise. The scrip had also underperformed the market over the past one quarter declining 16.25% as against the Sensexs 7.28% rise. The scrip had also underperformed the market over the past one year declining 34.59% as against the Sensexs 16.91% rise.

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

Shares of DFM Foods had rallied 17.87% in the preceding five trading sessions to settle at Rs 1,416.90 yesterday, 22 June 2017, from its close of Rs 1,202.15 on 15 June 2017.

ABG Capital sold 52,000 shares of the company at Rs 1,400.58 per share in a bulk deal on the BSE yesterday, 22 June 2017. ABG Capital sold 75,282 shares of the company at Rs 1,401.08 per share in a bulk deal on the NSE yesterday, 22 June 2017. ABG Capital held 1.57% stake in DFM Foods end March 2017.

LTR Focus Fund sold 1.24 lakh shares of the company at Rs 1,400.15 per share in a bulk deal on the BSE yesterday, 22 June 2017. LTR Focus Fund held 1.52% stake in DFM Foods end March 2017.

Steadview Capital Mauritius sold 1.27 lakh shares of the company at Rs 1,400.15 per share in a bulk deal on the BSE yesterday, 22 June 2017. Steadview Capital Mauritius sold 1.18 lakh shares of the company at Rs 1,404.74 per share in a bulk deal on the NSE yesterday, 22 June 2017. Steadview Capital Mauritius held 3.05% stake in DFM Foods end March 2017.

DFM Foods net profit fell 68.5% to Rs 3.66 crore on 24.2% decrease in net sales to Rs 93.17 crore in Q4 March 2017 over Q4 March 2016.

DFM Foods is engaged in manufacturing and marketing of snack foods.

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Aban Offshore intimates of contract with Brunei Shell Petroleum Company
Jun 23,2017

Aban Offshore announced that a step down subsidiary of the Company has entered into a contract with Brunei Shell Petroleum Company Sdn Bhd for deployment of the jack-up rig Deep Driller 5 offshore Brunei Darussalam for a firm period of 5 years followed by 3 optional periods of one year each. The deployment is likely to commence during the last quarter of calendar year 2017.

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Deep Industries secures contract from ONGC
Jun 23,2017

Deep Industries announced that the Company has been awarded a contract from ONGC. The contract is for securing the services of 30 Tons Workover Rig to be deployed in ONGC CBM Asset, Bokaro. The tenure of the contract is 1 year and the total estimated value of the said contract is Rs. 3.72 crore.

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Axis Bank plans to raise funds
Jun 23,2017

Axis Bank proposes to raise funds by issuing Unsecured, Subordinated, Perpetual, Additional Tier 1, Basel III compliant Non-Convertible Debentures (Series - 28) of the face value of Rs. 10 lakh each for cash at par aggregating to Rs. 3,500 crore. The Board of Directors of the Bank will consider the proposal to issue and allot the above Securities through Circular Resolution.

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Graphite India slips on profit booking
Jun 23,2017

Meanwhile, the S&P BSE Sensex was down 63.68 points or 0.2% at 31,227.06. The S&P BSE Small-Cap index declined 209.74 points or 1.34% at 15,399.75.

On the BSE, 87,000 shares were traded on the counter so far as against the average daily volumes of 67,279 shares in the past one quarter. The stock had hit a high of Rs 160.80 so far during the day, which is also its record high. The stock hit a low of Rs 150.70 so far during the day. The stock had hit a 52-week low of Rs 70.10 on 30 September 2016.

The stock had outperformed the market over the past one month till 22 June 2017, advancing 40.32% compared with the Sensexs 2.35% rise. The stock had also outperformed the market over the past one quarter, gaining 41.4% as against the Sensexs 7.28% rise. The scrip had also outperformed the market over the past one year, advancing 108.31% as against the Sensexs 16.91% rise.

The small-cap company has equity capital of Rs 39.08 crore. Face value per share is Rs 2.

Shares of Graphite India had surged 32.31% in the preceding eight trading sessions to settle at Rs 155.40 yesterday, 22 June 2017, from its close of Rs 117.45 on 12 June 2017.

Graphite Indias net profit spurted 117% to Rs 61.97 crore on 7.2% increase in net sales to Rs 366.22 crore in Q4 March 2017 over Q4 March 2016.

Graphite India is engaged in the manufacture of graphite electrodes including carbon and graphite specialty products.

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