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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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Va Tech Wabag gains after securing order
Jul 27,2017

The announcement was made after market hours yesterday, 26 July 2017.

Meanwhile, the S&P BSE Sensex was up 207.91 points, or 0.64% at 32,590.37. The S&P BSE Mid-Cap index was up 79.55 points or 0.52% at 15,419.31.

On the BSE, 10,000 shares were traded on the counter so far as against the average daily volumes of 24,008 shares in the past one quarter. The stock had hit a high of Rs 613.90 and a low of Rs 606.20 so far during the day. The stock had hit a 52-week high of Rs 749 on 21 June 2017 and a 52-week low of Rs 449.95 on 23 December 2016.

The stock had underperformed the market over the past one month till 26 July 2017, declining 14.95% compared with the Sensexs 4% rise. The scrip had also underperformed the market over the past one quarter declining 11.42% as against the Sensexs 7.46% rise. The scrip had also underperformed the market over the past one year advancing 2.94% as against the Sensexs 15.75% rise.

The mid-cap company has equity capital of Rs 10.92 crore. Face value per share is Rs 2.

Va Tech Wabag said that the company has won a Rs 386 crore order from Bangalore Water Supply and Sewerage Board (BWSSB) for a 150 MLD Sewage Treatment Plant (STP) at K&C Valley in Bengaluru. Post construction of the STP, WABAG will also operate and maintain for a period of 10 years.

Pankaj Sachdeva, CEO - India Cluster said, it is very heartening to win repeat orders and this repeat order from BWSSB is another feather in its cap showcasing the company technological prowess and the customers confidence in the company, he said.

Va Tech Wabags consolidated net sales rose 16.3% to Rs 75.73 crore on 33.3% increase in net sales to Rs 1131.74 crore in Q4 March 2017 over Q4 March 2016.

VA Tech Wabag is engaged in water treatment field. The company principal activities include design, supply, installation, construction and operational management of drinking water, waste water treatment, industrial water treatment and desalination plants.

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