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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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DCM Shriram Industries fixes record date for interim dividend
Nov 09,2016

DCM Shriram Industries has fixed 24 November 2016 as the Record Date for the purpose of Payment of Interim Dividend.

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IT stocks drop as Donald Trump slated to win US presidential elections
Nov 09,2016

Meanwhile, the S&P BSE Sensex was down 947.46 points or 3.43% at 26,643.68.

HCL Technologies (down 2.39%), TCS (down 5.17%), Infosys (down 3.24%), Tech Mahindra (down 4.6%) and Wipro (down 2.41%) edged lower.

The BSE IT index underperformed the market over the past one month till 8 November 2016, falling 2.33% compared with the Sensexs 1.67% fall. The index also underperformed the market in past one quarter, dropping 10.35% as against the Sensexs 2.1% decline.

So far, Trump won 264 votes and Hillary won 215 votes in a 270 Electoral College votes needed to win the White House. Trump is known to be in favour of protectionist measures, such as stricter visa norms to curtail jobs for Indian and other non-US employees. Trump has made outsourcing and liberal immigration laws a major campaign issue in this election in an effort to protect American jobs. IT firms profit margins are expected to come under pressure if Trump tightens immigration laws and take harsh measures to discourage outsourcing.

US is the biggest outsourcing market for the Indian IT firms.

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Apar Industries announces change in Chairman
Nov 09,2016

Apar Industries announced that the Board of Directors of the Company at its meeting held on 08 November 2016 appointed Kushal N Desai, Managing Director as Chairman of the Board in place of Dr Narendra D Desai who ceased to be Director due to his death.

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Hinduja Foundries slumps after dismal Q2 numbers
Nov 09,2016

The result was announced during market hours today, 9 November 2016.

Meanwhile, the S&P BSE Sensex was down 864.98 points or 3.13% at 26,726.16.

On BSE, so far 4,735 shares were traded in the counter as against average daily volume of 15,177 shares in the past one quarter. The stock hit a high of Rs 35 and a low of Rs 30 so far during the day. The stock had hit a 52-week low of Rs 27.30 on 12 February 2016. The stock had hit a 52-week high of Rs 65 on 7 July 2016. The stock had outperformed the market over the past one month till 8 November 2016, sliding 1.41% compared with 1.67% fall in the Sensex. The scrip had, however, underperformed the market in past one quarter, declining 36.39% as against Sensexs 2.1% fall.

The small-cap company has equity capital of Rs 207.05 crore. Face value per share is Rs 10.

Hinduja Foundries total income from operations declined 1.07% to Rs 155.57 crore in Q2 September 2016 over Q2 September 2015.

Hinduja Foundries is one of the Indias leading foundry group with the capacity to produce cylinder block and head ranging from 25 kilograms (kgs) to 500 kgs. From castings for automobiles and tractors to industrial engines, construction equipment and power generation equipment, Hinduja Foundries meets the stringent requirement of diverse segments. It even caters to the exceptionally high standards of defence applications.

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Board of Vas Infrastructure to review September quarter and half year results
Nov 09,2016

Vas Infrastructure announced that the meeting of the Board of Directors of the Company is scheduled to be held on 14 November 2016, inter alia, to consider following items:

1. To take on record/approve the Unaudited Financial Results for the Quarter and Half Year ended on 30 September 2016.

2. To take on record the Limited Review Report given by the Statutory Auditors on the Unaudited Financial Results for the Quarter and Half Year ended on 30 September 2016.

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Board of Vas Infrastructure to review September quarter and half year results
Nov 09,2016

Vas Infrastructure announced that the meeting of the Board of Directors of the Company is scheduled to be held on 14 November 2016, inter alia, to consider following items:

1. To take on record/approve the Unaudited Financial Results for the Quarter and Half Year ended on 30 September 2016.

2. To take on record the Limited Review Report given by the Statutory Auditors on the Unaudited Financial Results for the Quarter and Half Year ended on 30 September 2016.

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Golden Properties & Traders Board to review September quarter results
Nov 09,2016

Golden Properties & Traders announced that the Board Meeting for the purpose of Review of Unaudited Financial Results of the Company for the quarter ended 30 September 2016 shall be held on 14 November 2016.

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Golden Properties & Traders Board to review September quarter results
Nov 09,2016

Golden Properties & Traders announced that the Board Meeting for the purpose of Review of Unaudited Financial Results of the Company for the quarter ended 30 September 2016 shall be held on 14 November 2016.

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Yashraj Containeurs to announce September quarter and half year results
Nov 09,2016

Yashraj Containeurs announced that the meeting of the Board of Directors of the Company is scheduled to be held on 14 November 2016, inter alia, to consider and approve the Unaudited Financial Results for the Quarter and Half Year ended on 30 September 2016.

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Yashraj Containeurs to announce September quarter and half year results
Nov 09,2016

Yashraj Containeurs announced that the meeting of the Board of Directors of the Company is scheduled to be held on 14 November 2016, inter alia, to consider and approve the Unaudited Financial Results for the Quarter and Half Year ended on 30 September 2016.

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Board of Precision Containeurs to consider September quarter and half year results
Nov 09,2016

Precision Containeurs announced that the meeting of the Board of Directors of the Company is scheduled to be held on 14 November 2016, inter alia, to consider and approve the Unaudited Financial Results for the Quarter and Half Year ended on 30 September 2016.

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Board of Precision Containeurs to consider September quarter and half year results
Nov 09,2016

Precision Containeurs announced that the meeting of the Board of Directors of the Company is scheduled to be held on 14 November 2016, inter alia, to consider and approve the Unaudited Financial Results for the Quarter and Half Year ended on 30 September 2016.

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Board of Shreenath Investment Company to consider September quarter results
Nov 09,2016

Shreenath Investment Company announced that a Meeting of the Board of Directors of the Company is scheduled to be held on 14 November 2016, to consider, approve and take on record of Un-audited Financial Result together with Limited Review Report for the quarter ended 30 September 2016.

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Board of Shreenath Investment Company to consider September quarter results
Nov 09,2016

Shreenath Investment Company announced that a Meeting of the Board of Directors of the Company is scheduled to be held on 14 November 2016, to consider, approve and take on record of Un-audited Financial Result together with Limited Review Report for the quarter ended 30 September 2016.

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Hindalco Industries skids on equity dilution concerns
Nov 09,2016

The announcement was made during market hours today, 9 November 2016.

Meanwhile, the S&P BSE Sensex was down 947.46 points or 3.43% at 26,643.68.

On BSE, so far 7.72 lakh shares were traded in the counter as against average daily volume of 13.42 lakh shares in the past one quarter. The stock hit a high of Rs 163.40 and a low of Rs 151.05 so far during the day. The stock had hit a 52-week high of Rs 172.25 on 8 November 2016. The stock had hit a 52-week low of Rs 58.85 on 12 February 2016. The stock outperformed the market over the past one month till 8 November 2016, gaining 6.17% compared with the Sensexs 1.67% fall. The scrip also outperformed the market in past one quarter, gaining 12.54% as against the Sensexs 2.1% decline.

The large-cap company has equity capital of Rs 206.52 crore. Face value per share is Rs 1.

Hindalco Industries announced that a meeting of the board of directors of the company is scheduled on 12 November 2016 to consider among other items, approval of raising of funds by issue of equity shares, global depository receipts/American depository receipts/, foreign currency convertible bonds/, fully convertible debentures/partly convertible debentures/ preference shares convertible into equity shares, and/or any other financial instruments convertible into equity shares (including warrants, or otherwise, in registered or bearer form) and/or any security convertible into equity shares, combination of any of the aforementioned securities by way of one or more public and/or private offerings, qualified institutions placement and/or on preferential allotment basis or any combination thereof or any other method as may be permitted under applicable law, subject to such approvals as may be required.

Hindalco Industries net profit jumped 381.3% to Rs 294.07 crore on 11.9% decline in net sales to Rs 7501.39 crore in Q1 June 2016 over Q1 June 2015. The company is scheduled to announce Q2 September 2016 results on 12 November 2016.

A part of the Aditya Birla Group, Hindalco Industries is the worlds largest aluminium rolling company and one of the biggest producers of primary aluminium in Asia. Its copper smelter is amongst the largest single location custom smelter globally.

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