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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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Anukaran Commercial Enterprises reports standalone nil net profit/loss in the December 2016 quarter
Feb 10,2017

Anukaran Commercial Enterprises reported no net profit/loss in the quarter ended December 2016 as against net profit of Rs 0.02 crore during the previous quarter ended December 2015. There were no Sales reported in the quarter ended December 2016 and during the previous quarter ended December 2015.

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Hindustan Foods reports standalone net profit of Rs 0.23 crore in the December 2016 quarter
Feb 10,2017

Net profit of Hindustan Foods reported to Rs 0.23 crore in the quarter ended December 2016 as against net loss of Rs 0.40 crore during the previous quarter ended December 2015. Sales rose 32.45% to Rs 4.98 crore in the quarter ended December 2016 as against Rs 3.76 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales4.983.76 32 OPM %15.264.79 - PBDT0.57-0.06 LP PBT0.23-0.40 LP NP0.23-0.40 LP

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Parabolic Drugs reports standalone net loss of Rs 45.40 crore in the December 2016 quarter
Feb 10,2017

Net Loss of Parabolic Drugs reported to Rs 45.40 crore in the quarter ended December 2016 as against net loss of Rs 178.64 crore during the previous quarter ended December 2015. Sales rose 20.52% to Rs 24.26 crore in the quarter ended December 2016 as against Rs 20.13 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales24.2620.13 21 OPM %5.19-668.21 - PBDT-31.24-161.55 81 PBT-44.62-178.64 75 NP-45.40-178.64 75

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Libord Finance reports consolidated net loss of Rs 0.01 crore in the December 2016 quarter
Feb 10,2017

Net loss of Libord Finance reported to Rs 0.01 crore in the quarter ended December 2016 as against net profit of Rs 0.04 crore during the previous quarter ended December 2015. Sales declined 44.83% to Rs 0.16 crore in the quarter ended December 2016 as against Rs 0.29 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales0.160.29 -45 OPM %-56.2520.69 - PBDT-0.030.06 PL PBT-0.040.06 PL NP-0.010.04 PL

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Unimers India reports standalone net loss of Rs 0.21 crore in the December 2016 quarter
Feb 10,2017

Net Loss of Unimers India reported to Rs 0.21 crore in the quarter ended December 2016 as against net loss of Rs 2.07 crore during the previous quarter ended December 2015. There were no Sales reported in the quarter ended December 2016 and during the previous quarter ended December 2015.

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Kisan Mouldings reports standalone net loss of Rs 4.90 crore in the December 2016 quarter
Feb 10,2017

Net Loss of Kisan Mouldings reported to Rs 4.90 crore in the quarter ended December 2016 as against net loss of Rs 1.99 crore during the previous quarter ended December 2015. Sales declined 10.84% to Rs 96.71 crore in the quarter ended December 2016 as against Rs 108.47 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales96.71108.47 -11 OPM %8.466.03 - PBDT0.14-0.34 LP PBT-3.27-3.65 10 NP-4.90-1.99 -146

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BPCL drops on profit booking after declaring good Q3 result
Feb 10,2017

Meanwhile, the S&P BSE Sensex was up 4.55 points or 0.02% at 28,334.25

On the BSE, 97,000 shares were traded on the counter so far as against the average daily volumes of 1.40 lakh shares in the past one quarter. The stock hit a high of Rs 735 in intraday trade so far, which is record high for the counter. The stock had hit a low of Rs 711.05 so far during the day. The stock had hit a 52-week low of Rs 366.10 on 23 February 2016.

The large-cap company has equity capital of Rs 1446.17 crore. Face value per share is Rs 10.

Shares of Bharat Petroleum Corporation (BPCL) had gained 3.73% in the preceding four trading sessions to settle at Rs 725.25 yesterday, 9 February 2017, from its close of Rs 699.20 on 3 February 2017.

BPCLs net profit rose 47.04% to Rs 2271.94 crore on 15.55% increase in total income to Rs 54093.75 crore in Q3 December 2016 over Q3 December 2015. The result was announced after trading hours yesterday, 9 February 2017.

BPCL is a state-run oil refining-cum-marketing company. The Government of India held 54.93% stake in BPCL (as per the shareholding pattern as on 31 December 2016).

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Oil & Natural Gas Corpn announces appointment of director
Feb 10,2017

Oil & Natural Gas Corpn announced that Ministry of Petroleum and Natural Gas (MoP&NG), Govt. of India vide letter dated 06 February 2017 has appointed Dr. Santrupt Misra as Non-official Independent Director on the Board of Oil & Natural Gas Corpn (ONGC) for a period of three years with effect from the date of Notification i.e. 06 February 2017 or until further orders, whichever is earlier. The Board of Directors have approved the appointment of Dr. Santrupt Misra as Non-official Independent Director on the Board of the ONGC with effect from 06 February 2017. His profile is attached for information of stakeholders.

Further the Company has informed that, Dr. Santrupt Misra is not related in any manner with any of the Directors on the Board of ONGC.

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Paramount Printpackaging to hold board meeting
Feb 10,2017

Paramount Printpackaging will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider and approve, the Unaudited Financial Results of the Company for the quarter ended on 31 December 2016.

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SSPN Finance to hold board meeting
Feb 10,2017

SSPN Finance will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider adoption and approval of An Un-Audited Financial Results for the quarter ended on 31 December 2016.

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Seshachal Technologies to hold board meeting
Feb 10,2017

Seshachal Technologies will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider and approve, the Unaudited Financial Results of the Company for the quarter ended on 31 December 2016.

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Board of Bharat Petroleum Corporation recommends special dividend
Feb 10,2017

Bharat Petroleum Corporation announced that the Board of Directors of the Company at its meeting held on 9 February 2017, inter alia, have recommended the special dividend of Rs 4 per equity Share (i.e. 40%), subject to the approval of the shareholders.

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Praj Industries allots 2 lakh equity shares
Feb 10,2017

Praj Industries announced that pursuant to the provisions of the Praj Employee Stock Option Plan 2005, the option grantee has exercised 2,00,000 Stock grants equivalent to 2,00,000 Equity shares of face value Rs. 21- each of the Company.

Accordingly, the duly authorised Compensation & Share Allotment Committee of the Board of Directors of the Company has allotted 2,00,000 Equity shares on 10 February 2017 at an exercise price of Rs.72.70 per Equity share to the option grantee in terms of Praj Employee Stock Option Plan 2005.

Consequently, the issued, subscribed and paid- up share capital of the Company stands increased to 179,017,436 Equity shares of Rs.2/- each.

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Non-expansionary Budget, Unlikely to Catalyse Investment Demand in FY18
Feb 10,2017

Despite fiscal deficit pegged at 3.2% of GDP, a deviation from the target of 3% set out in the Medium Term Fiscal Policy of FY17, Ind-Ra opines that the Union Budget FY18 is non-expansionary. In fact, the total expenditure to GDP ratio at 12.7% for FY18 is lower than 13.4% for FY17 revised estimate (RE).

As the capital expenditure has remained at about 1.8% of GDP in both FY18 and FY17RE, lowering of total expenditure has been on account of compression in revenue expenditure. Revenue expenditure to GDP ratio, therefore, declined to 10.9% in FY18 as compared to 11.5% in FY17RE. This has also led to improvement in the quality of deficit which is measured as percentage of revenue deficit in fiscal deficit. Although the quality of fiscal deficit is still nowhere close to the levels attained before the global financial crisis, it has been estimated at 58.8% for FY18, down from 81.0% in FY10.

Ind-Ra, however, believes the target for debt sustainability should be primary deficit and not fiscal deficit. From the point of view of debt sustainability two items that are critical are - (i) primary deficit (fiscal deficit net of interest payment) and (ii) rate spread (difference between the nominal growth of the economy and average interest rate on debt stock). Since FY11, rate spreads have reduced and primary deficit has increased leading to escalation in debt to GDP ratio. Reduction in primary deficit with some support from a stable rate spread can help India achieve general government debt to GDP ratio of 60% over the next three years as recommended by the N. K. Singh Committee.

Although the net tax/GDP ratio in FY17 improved to 7.2% from 6.9% in FY16 and is budgeted to increase to 7.3% in FY18, it is still nowhere close to the pre-global financial crisis level of 8.8%.

The budgeted growth in excise duty and service tax collection for FY18 appears to be conservative. Ind-Ra believes this has been done to keep the headroom available to offset the shortfall, if any, arising out of other tax/non tax heads such as disinvestment and still meet the fiscal deficit target.

Despite budgeted 10.7% growth in governments capital expenditure in FY18, Ind-Ra feels investment demand will remain muted as the government capex share in total investment is just about 5%.

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Praj Industries allots 38910 equity shares
Feb 10,2017

Praj Industries announced that pursuant to the provisions of the Praj Employee Stock Option Plan 2011, some of the option grantees have exercised 38,910 Stock grants equivalent to 38,910 Equity shares of face value Rs. 2/- each of the Company.

Accordingly, the duly authorised Compensation & Share Allotment Committee of the Board of Directors of the Company has allotted 38,910 Equity shares on 10 February 2017 at an exercise price of Rs.55.75 per Equity share to the option grantees in terms of Praj Employee Stock Option Plan 2011.

Consequently, the issued, subscribed and paid- up share capital of the Company stands increased to 179,056,346 Equity shares of Rs.2/- each.

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