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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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PHD Chamber urges the Government to rationalise 28% GST on white goods
Nov 07,2016

While welcoming the GST rate structure of 5%, 12%, 18% and 28% announced by the Union Finance Minister, the President, PHD Chamber of Commerce and Industry, Dr. Mahesh Gupta said 28 per cent tax on white goods is not in sync with the present tax reforms.

Dr. Mahesh Gupta said that high tax rate will have a cascading impact on the consumer goods segment and hit to consumer demand majorly in the rural segments of the economy as demand is primarily emerging for the rural sectors of the economy.

I strongly believe that the impact of GST would be a major game changer for the economy for accelerating the economic growth and generating more and more employment opportunities, said Dr. Mahesh Gupta.

The lowest tax rate of 5 percent is suggested to be levied on items of mass consumption such as spices, mustard oil etc. which are used particularly by common people is a welcome step. The standard tax rate of 12 and 18 percent would accommodate most of the goods and services including processed foods, soaps, oil, smart phones etc. is also good.

We appreciate the pre emptive measures to keep inflation under check as essential items including food, which presently constitute roughly half of the consumer inflation basket, will be taxed at zero rate, said Dr. Gupta.

Undoubtedly, the interest of common man has been duly taken care of which is evident from finalisation of 5% tax rate on common use items, as against 6% proposed earlier. Further, zero rating of necessities is also a welcome move in the beneficial interest of the common man, said Dr. Mahesh Gupta

The fourth slab of 28 percent will imply to white goods and cars while an additional cess will be collected along with the higher tax rate of 28 percent on Luxury cars, which the industry says is counterproductive to the ongoing tax reforms in the country as it will have impact on demand and make in India programme and consequently on manufacturing and employment, said Dr. Gupta.

The Chamber urges the government to look into GST rate for white goods and to reduce the same to maintain a rational rate in line with the initial aims of GST implementation. The chamber awaits the rates for gold and precious metals which will be announced today during the GST council meet today, he said.

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Mangalam Cement moves north after turnaround in Q2
Nov 07,2016

The result was announced on Saturday, 5 November 2016.

Meanwhile, the S&P BSE Sensex was up 233.07 points or 0.85% at 27,507.22.

On BSE, so far 26,000 shares were traded in the counter as against average daily volume of 21,395 shares in the past one quarter. The stock hit a high of Rs 341 and a low of Rs 322.30 so far during the day. The stock had hit a record high of Rs 375.15 on 23 August 2016. The stock had hit a 52-week low of Rs 151.10 on 25 February 2016. The stock had underperformed the market over the past one month till 4 November 2016, sliding 9.24% compared with 3.74% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, advancing 15.26% as against Sensexs 1.59% fall.

The small-cap company has equity capital of Rs 26.69 crore. Face value per share is Rs 10.

The companys net sales declined 5.2% to Rs 189.45 crore in Q2 September 2016 over Q2 September 2015.

Mangalam Cement is a cement manufacturing company.

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Rajesh Exports gains after opening new retail showroom
Nov 07,2016

The announcement was made during market hours today, 7 November 2016.

Meanwhile, the BSE Sensex was up 244.51 points, or 0.9%, to 27,518.66.

On BSE, so far 47,073 shares were traded in the counter, compared with an average volume of 1.16 lakh shares in the past one quarter. The stock hit a high of Rs 461 and a low of Rs 455 so far during the day. The stock hit a record high of Rs 745.50 on 18 February 2016. The stock hit a 52-week low of Rs 422.50 on 24 June 2015. The stock underperformed the market over the past one month till 4 November 2016, falling 3.99% compared with the Sensexs 3.74% fall. The scrip, however, outperformed the market in the past one quarter gaining 4.64% as against the Sensexs 1.59% decline.

The large-cap company has an equity capital of Rs 29.53 crore. Face value per share is Re 1.

Rajesh Exports announced that it opened 81st retail showroom under its brand Shubh Jewellers at Bangalore. The company has completed its first phase of retail launch by launching 80 Shubh Jewellers showrooms. The company has now launched its second phase of retail expansion with the opening of this showroom, Rajesh Exports said. In the second phase of retail expansion, the company has finalised plans to launch series of retail showrooms in the four southern states of India. The second phase of retail expansion will span over the next four financial quarters.

Chairman of Rajesh Exports, Rajesh Mehta said that the company is confident that over a period of the next one year, the company would be able to substantially increase the retail business by launching new retail stores which would result in increased profit margin for the company as retail is a high margin business.

On a consolidated basis, net profit of Rajesh Exports rose 13.8% to Rs 269.91 crore on 289% jump in net sales to Rs 58916.76 crore in Q1 June 2016 over Q1 June 2015. The company will announce its Q2 results on 11 November 2016.

Rajesh Exports is largest processor of gold in the world. It processes 35% of gold produced in the world. It has a presence across the value chain of gold from mining till its own retail brand. It is also the largest refiner of gold in the world.

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Intercontinental Leasing & Fin. Co. to hold board meeting
Nov 07,2016

Intercontinental Leasing & Fin. Co. will hold a meeting of the Board of Directors of the Company on 12 November 2016 to consider and approve the unaudited financial results for the quarter ended September 30, 2016.

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Intercontinental Leasing & Fin. Co. to hold board meeting
Nov 07,2016

Intercontinental Leasing & Fin. Co. will hold a meeting of the Board of Directors of the Company on 12 November 2016 to consider and approve the unaudited financial results for the quarter ended September 30, 2016.

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Spaceage Products to hold board meeting
Nov 07,2016

Spaceage Products will hold a meeting of the Board of Directors of the Company on 12 November 2016 to consider and approve the unaudited financial results for the quarter ended September 30, 2016.

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Aanchal Ispat to hold board meeting
Nov 07,2016

Aanchal Ispat will hold a meeting of the Board of Directors of the Company on 14 November 2016 consider and approve the Unaudited Financial Results of the Company for the half year ended September 30, 2016.

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Apunka Invest Commercial to hold board meeting
Nov 07,2016

Apunka Invest Commercial will hold a meeting of the Board of Directors of the Company on 14 November 2016 to consider and approve the unaudited financial results of the company for the quarter and half year ended on September 30, 2016.

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Balgopal Commercial to hold board meeting
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Balgopal Commercial will hold a meeting of the Board of Directors of the Company on 14 November 2016 to consider the unaudited financial results of the company for the quarter and half year ended September 30, 2016.

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RDB Rasayans to hold board meeting
Nov 07,2016

RDB Rasayans will hold a meeting of the Board of Directors of the Company on 14 November 2016 Un-audited Financial Results of the Company for the quarter and half year ended September 30, 2016.

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Nov 07,2016

Zeal Aqua will hold a meeting of the Board of Directors of the Company on 12 November 2016 to consider and approve Un-audited Financial Results for half financial year ended on September 30, 2016.

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Nov 07,2016

K D Trend Wear will hold a meeting of the Board of Directors of the Company on 12 November 2016 to consider and approve the Unaudited Financial Results for the half year ended on September 30, 2016.

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Layla Textile & Traders to hold board meeting
Nov 07,2016

Layla Textile & Traders will hold a meeting of the Board of Directors of the Company on 14 November 2016 The unaudited financial results for the quarter and half year ended on September 30, 2016.

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Franklin Leasing & Finance to hold board meeting
Nov 07,2016

Franklin Leasing & Finance will hold a meeting of the Board of Directors of the Company on 12 November 2016 Halfyear ended on 30th september, 2016

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Mishka Exim to hold board meeting
Nov 07,2016

Mishka Exim will hold a meeting of the Board of Directors of the Company on 14 November 2016 to consider, approve and take on record among other items of the agenda the Un-Audited Financial Results (standalone & consolidated) and Limited Review Report by the Statutory Auditors for the half year ended on September 30, 2016.

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