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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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Tata Communications consolidated net profit rises 1175.85% in the December 2016 quarter
Jan 24,2017

Net profit of Tata Communications rose 1175.85% to Rs 1412.88 crore in the quarter ended December 2016 as against Rs 110.74 crore during the previous quarter ended December 2015. Sales declined 3.54% to Rs 4360.05 crore in the quarter ended December 2016 as against Rs 4520.06 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales4360.054520.06 -4 OPM %13.0512.31 - PBDT1972.18555.84 255 PBT1504.4986.54 1638 NP1412.88110.74 1176

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Emkay Global Financial Services partners with DBS Bank
Jan 24,2017

Emkay Global Financial Services has signed an agreement in Singapore with DBS Bank on 23 January 2017 to collaborate on research expertise.

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Emkay Global Financial Services partners with DBS Bank
Jan 24,2017

Emkay Global Financial Services has signed an agreement in Singapore with DBS Bank on 23 January 2017 to collaborate on research expertise.

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Gujarat Industries Power Co commissions 16.80MW Kucchdi Wind Farm
Jan 24,2017

Gujarat Industries Power Co has commissioned 16.80 MW (8 WTGs x 2.1 MW) of the Kucchdi Wind Farm, Ta & District : Porbandar for which certificate of commissioning has been issued by Gujarat Energy Development Agency (GEDA).

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Gujarat Industries Power Co commissions 16.80MW Kucchdi Wind Farm
Jan 24,2017

Gujarat Industries Power Co has commissioned 16.80 MW (8 WTGs x 2.1 MW) of the Kucchdi Wind Farm, Ta & District : Porbandar for which certificate of commissioning has been issued by Gujarat Energy Development Agency (GEDA).

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Punjab National Bank announces cessation of director
Jan 24,2017

Punjab National Bank announced that Gautam Premnath Khandelwal, part-time Non Official Director, ceased to be Director on the Board of the Bank w.e.f. 24 January 2017 on completion of his tenure on 23 January 2017.

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Veto Switchgears & Cables secures order worth Rs 19 crore
Jan 24,2017

Veto Switchgears & Cables announced that the Company had participated in the tender with Energy Efficiency Services (EESL) in respect of the following project Design, Manufacture, Supply, of Self-ballasted 9 Watt LED Bulbs on PAN-India basis, with 3 Years warranty and other Related Works under NIT/Bid Document No. EESL/06/2016-17/Supply-9W LED Bulbs/1617039 (The Tender) jointly through execution of a consortium agreement with Rudai Lighting.

Further, the Company has been awarded an order of Rs. 19 crore for supply of the same.

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Cera Sanitaryware to consider Q3 and 9M results
Jan 24,2017

Cera Sanitaryware announced that the meeting of Board of Directors of the Company will be held on 07 February 2017, inter alia, for considering the Unaudited Financial Results for the quarter and nine months ended 31 December 2016.

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Pradip Overseas to announce Q3 and 9M results
Jan 24,2017

Pradip Overseas announced that a meeting of the Board of Directors of the Company will be held on 13 February 2017, inter alia, to approve unaudited financial results of the Company for the Quarter and nine months ended 31 December 2016.

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Board of Samtel Color to consider December quarter results
Jan 24,2017

Samtel Color announced that the Meeting of the Board of Directors of the Company shall be held on 07 February 2017, to consider and approve Un-audited Financial Results for the quarter ended 31 December 2016.

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Bharat Heavy Electricals bags landmark order from PGCIL
Jan 24,2017

Bharat Heavy Electricals has secured a landmark order from Power Grid Corporation of India. BHELs scope of work is valued at Rs 1360 crore, for setting up a + 800 kV, 6,000 MW HVDC Link between the Western Region Grid (Raigarh, Chattisgarh) and the Southern Region Grid (Pugalur, Tamil Nadu).

Significantly, this is the second Ultra High Voltage Direct Current (UHVDC) transmission project contract for BHEL. The Company is currently executing the North-East Agra + 800 kV, 6,000 MW Multi Terminal HVDC link, jointly with ABB.

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ICICI Bank allots 20,500 equity shares
Jan 24,2017

ICICI Bank has allotted 20,500 equity shares of face value of Rs. 2/- each on 23 January 2017 under the Employees Stock Option Scheme, 2000 (ESOS).

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CNI Research to consider December quarter results
Jan 24,2017

CNI Research announced that a meeting of Board of Directors of the Company will be held on 01 February 2017 to consider and take on record the unaudited financial results of the Company for quarter ended 31 December 2016.

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ACI Infocom to announce Q3 results
Jan 24,2017

ACI Infocom announced that the meeting of the Board of Directors of the Company is scheduled to be held on 10 February 2017, inter alia, to consider the following business:

- To approve the Un-audited Financial Results along with Limited Review Report of the Company for the third quarter ended on 31 December 2016.

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Nocil gains after good Q3 results
Jan 24,2017

The result was announced after market hours yesterday, 23 January 2017.

Meanwhile, the S&P BSE Sensex was up 121.28 points or 0.45% at 27,238.62.

On the BSE, 3.10 lakh shares were traded on the counter so far as against the average daily volumes of 3.22 lakh shares in the past one quarter. The stock had hit a high of Rs 77.20 and a low of Rs 74.50 so far during the day.

The stock had hit a 52-week high of Rs 82.35 on 20 October 2016 and a 52-week low of Rs 37.65 on 12 February 2016. The stock had outperformed the market over the past one month till 23 January 2017, advancing 13.42% compared with the Sensexs 4.13% rise. The scrip had also outperformed the market over the past one quarter, declining 3.3% as against the Sensexs 3.42% fall.

The small-cap company has equity capital of Rs 163.58 crore. Face value per share is Rs 10.

Nocil manufactures basic organic chemicals.

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