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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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Board of Oracle Credit to consider Q3 and 9M results
Jan 27,2017

Oracle Credit announced that a meeting of the Board of Directors is proposed to be held on 06 February 2017, inter alia, to consider and approve Unaudited Financial Results of the Company for the quarter and nine months ended 31 December 2016.

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Loyal Textile Mills to consider December quarter results
Jan 27,2017

Loyal Textile Mills announced that the meeting of the Board of Directors of the Company is scheduled to be held on 09 February 2017, to consider the unaudited financial results for the Quarter ended 31 December 2016.

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Board of Lumax Industries approves capital expenditure up to Rs 100 crore
Jan 27,2017

Lumax Industries announced that the Board of Directors in their meeting held on 25 January 2017, has approved a Capital Expenditure Plan upto Rs. 100 crore (rounded off) to be done over a period of 12 months for expanding existing manufacturing facilities in Sanand and future expansion for supply of Automotive lighting products to its customers.

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Compuage Infocom fixes record date for stock split
Jan 27,2017

Compuage Infocom has fixed 17 February 2017 as the Record Date for purpose of subdivision of 1 (One) Equity Share of Rs.10/- (Rupees Ten only) each of the Company into 5 (Five) Equity Shares of face value of Rs.2/- (Rupee Two only) each.

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Board of IIFL Holdings declares interim dividend
Jan 27,2017

IIFL Holdings announced that the Board of Directors of the Company at its meeting held on 25 January 2017, inter alia, has declared an interim dividend of Rs. 4.50 per equity shares of the face value of Rs. 2/- each for the financial year 2016-17.

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Wipro fixes record date for interim dividend
Jan 27,2017

Wipro has fixed record date of 03 February 2017 for interim dividend of Rs 2 per share. The payment of interim dividend will be made on or before 10 February 2017.

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Board of Wipro approves interim dividend
Jan 27,2017

Wipro announced that the Board of Directors of the Company at its meeting held on 25 January 2017, inter alia, have considered and approved an interim dividend of Rs.2/- per equity share of par value Rs.2/- each to the members of the Company whose names appear in the Register of Members of the Company as on 03 February 2017, being the Record Date.

Further, the payment of interim dividend will be made on or before 10 February 2017.

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VRL Logistics to pay interim dividend
Jan 27,2017

VRL Logistics announced that interim dividend would be paid on or before 13 February 2017.

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Board of VRL Logistics approves interim dividend
Jan 27,2017

VRL Logistics announced that the Board of Directors of the Company at its meeting held on 25 January 2017, inter alia, has approved payment of interim dividend at the rate of 40% (Rs. 4/- per equity shares of Rs.10/-). The said Dividend would be paid on or before 13 February 2017.

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Orbit Exports to pay interim dividend
Jan 27,2017

Orbit Exports announced that an Interim Dividend will be paid to the equity shareholders of the Company on or before 22 February 2017.

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Board of Orbit Exports declares interim dividend
Jan 27,2017

Orbit Exports announced that at the Board Meeting held on 25 January 2017, the Directors have declared an Interim Dividend of Rs.2/- per Equity Share of Rs.10/- i.e. 20% each of the Company.

Further, an Interim Dividend will be paid to the equity shareholders of the Company on or before 22 February 2017.

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Board of Cholamandalam Investment & Finance Company approves interim dividend
Jan 27,2017

Cholamandalam Investment & Finance Company announced that the Board of Directors at their meeting held on 25 January 2017, inter alia, have approved the following:

- Payment of an interim dividend on the equity shares of the Company at the rate of 35% being Rs.3.50/- per equity share of Rs.10/- each for the year ending 31 March 2017.

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Mphasis gains as board plans to consider share buyback
Jan 27,2017

The announcement was made after market hours on Wednesday, 25 January 2017. The stock market had remained closed yesterday, 26 January 2017, on account of Republic Day holiday.

Meanwhile, the S&P BSE Sensex was up 187.24 points or 0.68% at 27,892.78.

On the BSE, 11,786 shares were traded in the counter so far as against average daily volume of 16,050 shares in the past one quarter. The stock had hit a high of Rs 564.60 and a low of Rs 550 so far during the day. The stock had hit a 52-week high of Rs 621.75 on 27 June 2016. The stock had hit a 52-week low of Rs 404.15 on 17 February 2016.

The stock had underperformed the market over the past one month till 25 January 2017, falling 3.65% compared with 6.4% gains in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 5.07% as against Sensexs 1.36% fall.

The large-cap company has equity capital of Rs 210.19 crore. Face value per share is Rs 10.

Mphasis consolidated net profit rose 3.12% to Rs 210.73 crore on 0.06% rise in net sales to Rs 1517.65 crore in Q2 September 2016 over Q1 June 2016.

Mphasis is an IT solutions provider offering applications, business process outsourcing (BPO) and infrastructure services globally through a combination of technology knowhow, domain and process expertise.

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Cholamandalam Investment & Finance Company fixes record date for interim dividend
Jan 27,2017

Cholamandalam Investment & Finance Company announced that the Company has fixed 07 February 2017 as the Record Date for the purpose of payment of Interim Dividend.

The interim dividend will be paid within 10 days from the Record Date (i.e. on or before 17 February 2017).

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Orbit Exports fixes record date for interim dividend
Jan 27,2017

Orbit Exports has fixed 14 February 2017 as the Record Date for the purpose of Payment of Interim Dividend.

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