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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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National Aluminium Company to consider Q2 results
Dec 05,2016

National Aluminium Company announced that the Meeting of Board of Directors of the Company is scheduled to be held on 14 December 2016 to consider inter-alia the unaudited financial results for the second quarter and half year ended 30 September 2016 (Q2).

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Hong Kong Stocks end lower after Italian PM quits
Dec 05,2016

The Hong Kong stock market finished session lower on Monday, 05 December 2016, as investors assessed the implications of the resignation of Italian Prime Minister Matteo Renzi after he suffered a humiliating defeat in a referendum over constitutional reforms. Investors largely shrugged off launch of the long-awaited Shenzhen-Hong Kong Stock Connect today, which will give mainland investors access to Hong Kong-listed stocks, and allow international investors to trade Shenzhen-listed stocks. The Hang Seng Index ended down 0.26%, or 59.27 points, to 22,505.55, while the Hang Seng China Enterprises index declined 0.71%, or 69.43 points, to 9,711.80. Turnover decreased to HK$68.8 billion from HK$80.9 billion on Friday.

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Nikkei falls on eurozone uncertainty
Dec 05,2016

The Japan share market closed session in negative territory on Monday, 05 December 2016, as investors kept to the sidelines after Italian voters rejected constitutional changes, raising questions over whether Italy will stay in the European Union and keep using the euro. Investors largely shrugged off data released Friday that showed the US unemployment rate at a nine-year low in November, all but guaranteeing an interest rate hike before the end of the year. Total 26 out of 33 TSE industry category on the main section lost ground, with Banks, Real Estate, Services, Construction, Insurance, Air Transportation, Electric Power & Gas, and Mining issues being major losers. The 225-issue Nikkei average lost 151.09 points, or 0.82 percent, to close at 18,274.99. The Topix index of all first-section issues finished down 11.02 points, or 0.75%, at 1,466.96.

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China Stocks fall as regulator warns against barbaric share acquisitions
Dec 05,2016

Mainland China stock market ended sharp down on Monday, 05 December 2016, with the blue-chip stocks suffered heavy fall after Chinas top securities regulator warned against barbaric share acquisitions, though small-caps were firm as the Shenzhen-Hong Kong investment link went live. The broader market sentiment was also cautious as investors and Europes politicians fear Italian Prime Minister Matteo Renzis resignation represents a fresh blow to the European Union. The Shanghai Composite Index dropped 1.2%, to 3,204.71, while the Shenzhen Composite Index, which tracks stocks on Chinas second exchange, fell 0.78% to 2,068.17. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, rose 0.02% to close at 2,143.88 points.

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Australia Market slips on euro-zone uncertainty
Dec 05,2016

Australian share market closed session in red terrain on Monday, 05 December 2016, as risk sentiments undermined after Italian Prime Minister Matteo Renzi indicated he would resign following heavy defeat on constitutional referendum, raising political uncertainty in the euro zone. Renzis decision to quit deals a fresh blow to the European Union at a time when Italy, the euro zones heavily indebted third-largest economy, is struggling to overcome a raft of crises. His defeat also prompts fresh ructions in markets, especially in the banking sector which has lost almost half its value this year on the Milan bourse, on fears over its huge exposure to bad loans accumulated during years of economic downturn. Most of the ASX sectors declined, with healthcare, consumer staples, consumer discretionary, industrials, energy, and financial issues being notable losers. At the closing bell, the benchmark S&P/ASX 200 index fell 43.60 points, or 0.8%, to 5400.40, while the broader All Ordinaries index declined 44.60 points, or 0.81%, to close at 5458.

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Outcome of board meeting of Pil Italica Lifestyle
Dec 05,2016

Pil Italica Lifestyle announced that the Board of Directors of the Company in their meeting held on 05 December 2016, interalia, has approved the Offer Letter for issue of 2,50,00,000 Warrants on preferential basis to Promoters and Non Promoters.

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Board of Amsons Apparels to consider migration to main board of BSE
Dec 05,2016

Amsons Apparels announced that the Next Board Meeting of the Company is scheduled to be held on 08 December 2016, inter alia, to consider and approve the following:

- Migration of the Company from SME Plateform of BSE to Main Board of BSE in terms of Chapter XB of SEBI (ICDR) Regulations, 2009.

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Parsvnath Developers jumps as net loss narrows in Q2
Dec 05,2016

The result was announced after market hours on Friday, 2 December 2016.

Meanwhile, the S&P BSE Sensex was up 117.70 points or 0.45% at 26,348.36.

On the BSE, 96,000 shares were traded on the counter so far as against the average daily volumes of 1.26 lakh shares in the past one quarter. The stock had hit a high of Rs 13.30 and a low of Rs 12.70 so far during the day.

The stock had hit a 52-week high of Rs 30 on 7 December 2015 and a record low of Rs 10.90 on 15 November 2016. It had underperformed the market over the past one month till 2 December 2016, sliding 10.7% compared with the Sensexs 4.71% fall. The scrip had also underperformed the market in the past one quarter, declining 25.95% as against the Sensexs 8.07% fall.

The small-cap company has equity capital of Rs 217.59 crore. Face value per share is Rs 5.

The companys revenue declined 8.3% to Rs 55 crore in Q2 September 2016 over Q2 September 2015. Earnings before interest, taxation, depreciation, and amortization (EBITDA) rose 22.2% to Rs 11 crore. EBITDA margin edged higher to 20% in Q2 September 2016, from 15% registered a year ago.

Pradeep Jain, Chairman, Parsvnath Group, said, he sees a huge opportunity for the real estate sector as the move of demonetisation of Rs 500 and Rs 1000 notes will enhance liquidity of the banks and in turn enable banks to lower interest rates on home loans by a minimum 2% thereby bringing it to 7-8% from existing 9.5-10%.

Parsvnath Developers is a real estate and infrastructure development company. The companys diversified business portfolio comprises of residential, commercial (office and retail), DMRC projects, hotels, SEZs, IT parks and third party construction.

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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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