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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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Intellect Design Arena allots 6100 equity shares
Feb 03,2017

Intellect Design Arena announced that the Members of the Stakeholders Relationship Committee of the Company vide its Circular Resolution dated 03 February 2017 has approved the allotment of 6,100 shares to Four (4) associates under ASOP 2011 Scheme.

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UltraTech Cement allots 3694 equity shares
Feb 03,2017

UltraTech Cement announced that the Nomination, Remuneration and Compensation Committee has on 02 February 2017 allotted 3,694 equity shares of Rs. 10/- of the Company to Option Grantees upon exercise of stock options under the Companys Employee Stock Option Scheme.

On allotment, the equity share capital of the Company stands increased to 27,44,84,508 equity shares of Rs. 10/- each aggregating to Rs. 2,74,48,45,080/-.

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UltraTech Cement grants stock options
Feb 03,2017

UltraTech Cement announced that the Nomination, Remuneration and Compensation Committee of the Board of Directors of the Company has approved grant of 29,369 Stock Options at an exercise price of Rs. 3,681/- per stock option exercisable into the same number of equity shares of Rs. 10/- each and 10,374 Restricted Stock Units at an exercise price of Rs. 10/- each exercisable into the same number of equity shares of Rs. 10/- each to eligible employees of the Company under the Employee Stock Option Scheme - 2013 (ESOS-2013).

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Granules India surges after completing re-inspection by Portugal agency
Feb 03,2017

The announcement was made after market hours yesterday, 2 February 2017.

Meanwhile, the S&P BSE Sensex was down 13.50 points or 0.05% at 28,213.11.

On the BSE, 4.36 lakh shares were traded on the counter so far as against the average daily volumes of 1.76 lakh shares in the past one quarter. The stock had hit a high of Rs 127.85 and a low of Rs 116.20 so far during the day.

The stock had hit a 52-week high of Rs 151.15 on 14 July 2016 and a 52-week low of Rs 91.45 on 9 November 2016. The stock had outperformed the market over the past one month till 2 February 2017, advancing 7.64% compared with the Sensexs 6.13% rise. The scrip had, however, underperformed the market over the past one quarter, declining 0.9% as against the Sensexs 2.54% rise.

The small-cap company has equity capital of Rs 22.12 crore. Face value per share is Rs 1.

Portugal agency InstitutoNacional da Farmacia E Do Medicamento (INFARMED) had in January 2017 conducted a renewal inspection of Granules Indias Gagillapur facility in Telangana. After the company submitted its responses to the audit observation, re-inspection of this facility was conducted by INFARMED from 31 January to 2 February 2017 and it was completed successfully.

On a consolidated basis, Granules Indias net profit rose 33.8% to Rs 39.06 crore on 10.6% growth in net sales to Rs 359.24 crore in Q3 December 2016 over Q3 December 2015.

Granules India is a vertically integrated pharmaceutical company, headquartered in Hyderabad, India. It manufactures active pharmaceutical ingredients (APIs), pharmaceutical formulation intermediates (PFIs) and finished dosages (FDs).

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Subros secured new order
Feb 03,2017

Subros has received an order of 306 kits from Indian Railways - Diesel Locomotive Works, Varanasi for which supplies are to be executed.

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Board of Kennametal India appoints company secretary and compliance officer
Feb 03,2017

Kennametal India announced that at the meeting of the Board of Directors held on 02 February 2017, the Board, on recommendation of the Nomination and Remuneration Committee, has appointed T. V. Thulsidass as Company Secretary and Compliance Officer of the Company with effect from 13 February 2017. The term of appointment is as per the service conditions applicable to the employees of the Company.

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Zee Learn allots 2 lakh shares
Feb 03,2017

Zee Learn announced that the ESOP Allotment Sub-Committee of the Company at its meeting held on 02 February 2017 has approved allotment of total 2,00,000 Equity Shares of Re.1/- at an exercise price of Rs. 31.80 per Equity Share under the ZLL ESOP 2010 - AMENDED 2015 Scheme.

Consequent to the above allotment, the paid up share capital of the Company has increased from 321,021,408 equity shares of Re. 1/- each aggregating Rs. 321,021,408/- to 321,221,408 equity shares of Re. 1/- each aggregating Rs. 321,221,408/-.

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Stylam Industries plans to sells its commercial space
Feb 03,2017

Stylam Industries plans to sell its commercial space having covered area of 13500 sq. meter facing Golf Course, IT Park, Panchkula.

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IndusInd Bank allots 24610 equity shares
Feb 03,2017

IndusInd Bank has allotted 24,610 (Twenty Four Thousand Six Hundred Ten) equity shares of Rs. 10/- (Rupees Ten Only) each on 02 February 2017 to those grantees who had exercised their option under the Companys Employee Stock Option Scheme.

The said shares will rank pari-passu with the existing shares of the Company in all respect.

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Essel Propack drops after reporting dismal Q3 results
Feb 03,2017

The result was announced after market hours yesterday, 2 February 2017.

Meanwhile, the S&P BSE Sensex was down 38.27 points or 0.14% at 28,188.34.

On the BSE, 222 shares were traded in the counter so far as against average daily volume of 17,858 shares in the past one quarter. The stock had hit a high of Rs 251.50 and a low of Rs 247.10 so far during the day. The stock had hit a record high of Rs 264.30 on 30 November 2016. The stock had hit a 52-week low of Rs 133.55 on 26 February 2016.

The stock had underperformed the market over the past one month till 2 February 2017, rising 1.56% compared with 6.13% gains in the Sensex. The scrip had also underperformed the market in past one quarter, gaining 1.39% as against Sensexs 2.54% gains.

The mid-cap company has equity capital of Rs 31.42 crore. Face value per share is Rs 2.

Essel Propacks Q3 results include 100% of the profit and loss of Essel Deutschland, Germany (EDG) operation, which was acquired effective 30 September 2016. To that extent the results are not comparable with previous year.

Overall, the quarter could have been much better, but for India growth stalling post demonetization. As the demand revives in India and EDG margin profile improves, the business should revert to healthy margin and profit growth in line with companys 20:20:20 strategy.

The reported consolidated results continuing business was impacted due to sharply reduced revenue growth in India operations on account of offtake contraction by FMCG customers following demonetization on 8th November 2016, which is estimated to cause revenue loss of Rs 27 crore and earning before interest and tax (EBIT) reduction of Rs 12 crore.

The one off expenses in connection with consolidation of India and Colombia units was to the extent of Rs 1.38 crore and impact of full consolidation of EDG effective 1 October 2016, on revenue of Rs 51.05 crore and EBIT loss of Rs 1.75 crore.

Essel Propack is the largest specialty packaging global company, manufacturing laminated plastic tubes catering to the FMCG and Pharma space.

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Godfrey Phillips India spurts after strong Q3 financial performance
Feb 03,2017

The result was announced after market hours yesterday, 2 February 2017.

Meanwhile, the S&P BSE Sensex was down 12.65 points, or 0.04%, to 28,213.96.

On the BSE, 27,000 shares were traded on the counter so far as against the average daily volumes of 29,312 shares in the past one quarter. The stock had hit a high of Rs 1,119 and a low of Rs 1,070 so far during the day.

The stock had hit a 52-week high of Rs 1,542 on 18 October 2016 and a 52-week low of Rs 795 on 5 May 2016.

The mid-cap company has equity capital of Rs 10.40 crore. Face value per share is Rs 2.

Godfrey Phillips India, a flagship company of the K.K. Modi Group, is one of Indias largest cigarette manufacturers.

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Control Print fixes record date for interim dividend
Feb 03,2017

Control Print announced that 23 February 2017 has been fixed as the Record Date for the purpose of Payment of Interim Dividend, if declared.

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Transport Corporation of India to pay 2nd interim dividend
Feb 03,2017

Transport Corporation of India announced that 2nd interim dividend will be paid on or before 03 March 2017.

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Board of Transport Corporation of India declares 2nd interim dividend
Feb 03,2017

Transport Corporation of India announced that the Board of Directors of the Company at its meeting held on 02 February 2017, inter alia, has:

- Declared payment of 2nd Interim Dividend @25% (Re. 0.50 per share of face value of Rs. 2/- each) to the Shareholders. The payment of dividend/dispatch of warrants will be completed within 30 days of declaration of Interim Dividend i.e. on or before 03 March 2017.

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Mahanagar Gas fixes record date for interim dividend
Feb 03,2017

Mahanagar Gas has fixed 20 February 2017 as the Record Date for the purpose of Payment of Interim Dividend, if approved.

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