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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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Sanco Trans to hold board meeting
Nov 01,2016

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

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Asutosh Enterprises to hold board meeting
Nov 01,2016

Asutosh Enterprises will hold a meeting of the Board of Directors of the Company on 8 November 2016 to consider and take on record the Unaudited Financial Results of the Company, subject to a Limited Review of the Statutory Auditors, for the quarter ended September 30, 2016.

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Neptune Exports to hold board meeting
Nov 01,2016

Neptune Exports will hold a meeting of the Board of Directors of the Company on 7 November 2016 to consider and take on record the Unaudited Financial Results of the Company, subject to a Limited Review of the Statutory Auditors, for the quarter ended September 30, 2016.

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Mold-Tek Technologies to hold board meeting
Nov 01,2016

Mold-Tek Technologies will hold a meeting of the Board of Directors of the Company on 9 November 2016 Un-Audited Standalone and Consolidated Financial Results of the Company for the Quarter ended on September 30, 2016.

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APM Industries to hold board meeting
Nov 01,2016

APM Industries will hold a meeting of the Board of Directors of the Company on 11 November 2016 Unaudited Financial Results for the quarter and half year ended September 30, 2016 and to consider Interim Dividend for the Financial Year 2016 - 2017, if any.

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Cipla to hold board meeting
Nov 01,2016

Cipla will hold a meeting of the Board of Directors of the Company on 9 November 2016 to consider and approve unaudited financial results (standalone and consolidated) for the quarter and half year ended September 30, 2016 (Q2).

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Jamna Auto Industries to hold board meeting
Nov 01,2016

Jamna Auto Industries will hold a meeting of the Board of Directors of the Company on 9 November 2016 to consider, approve and take on record the Un-Audited Financial Results for the quarter ended September 30, 2016 and to consider declaration of Interim Dividend, if any, for the FY 2016-17 along with other matters.

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Northern Project to hold board meeting
Nov 01,2016

Northern Project will hold a meeting of the Board of Directors of the Company on 8 November 2016 to consider and take on record the Unaudited Financial Results of the Company, subject to a Limited Review of the Statutory Auditors, for the quarter ended September 30, 2016.

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Tea Time to hold board meeting
Nov 01,2016

Tea Time will hold a meeting of the Board of Directors of the Company on 7 November 2016 to consider and take on record the Unaudited Financial Results of the Company, subject to a Limited Review of the Statutory Auditors, for the quarter ended September 30, 2016.

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Atul Auto gains on decent sales growth in October
Nov 01,2016

The company announced the monthly sales volume data during market hours today, 1 November 2016.

Meanwhile, the S&P BSE Sensex was down 5.63 points or 0.02% at 27,924.58.

On BSE, so far 29,000 shares were traded in the counter as against average daily volume of 10,809 shares in the past one quarter. The stock hit a high of Rs 512 and a low of Rs 485 so far during the day. The stock had hit a 52-week high of Rs 581 on 6 January 2016. The stock had hit a 52-week low of Rs 392 on 10 August 2016. The stock had outperformed the market over the past one month till 30 October 2016, advancing 1.84% compared with 0.23% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 3.57% as against Sensexs 0.43% fall.

The small-cap company has equity capital of Rs 10.97 crore. Face value per share is Rs 5.

Atul Autos net profit fell 29.4% to Rs 5.01 crore on 12.7% decline in net sales to Rs 92.45 crore in Q1 June 2016 over Q1 June 2015.

Atul Auto manufactures three wheeler auto vehicles.

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Ujaas Energy bags order from AAI
Nov 01,2016

Ujaas Energy has bagged an order from the Airport Authority of India for n++Design, manufacture, supply, erection, testing and commissioning of Rooftop Grid connected solar PV system of 158 Kwp for Airport at Port Blair, Andaman & Nicobar.

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Tata Chemicals changes directorate
Nov 01,2016

Tata Chemicals has announced that Nirmalya Kumar, Non-Executive Director, has resigned from the Board of the Company with effect from 31 October 2016.

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Bharti Infratel gains on reports foreign investors eyeing major stake
Nov 01,2016

Meanwhile, the BSE Sensex was up 60.81 points, or 0.22%, to 27,991.02.

On BSE, so far 31,000 shares were traded in the counter, compared with average daily volume of 1.76 lakh shares in the past one quarter. The stock hit a high of Rs 358 and a low of Rs 348.10 so far during the day. The stock hit a 52-week high of Rs 436.40 on 30 December 2015. The stock hit a 52-week low of Rs 302.10 on 24 June 2016. The stock had underperformed the market over the past 30 days till 30 October 2016, sliding 4.71% compared with 0.23% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 12.23% as against Sensexs 0.26% decline.

The large-cap company has equity capital of Rs 1896.67 crore. Face value per share is Rs 10.

Private equity heavyweight KKR and pension giant Canada Pension Plan Investment Board (CPPIB) are reportedly in talks with Sunil Mittal led Bharti Airtel to acquire a significant stake in its listed tower arm Bharti Infratel.

Last week, Bharti Airtel announced that the board of directors of the company at its meeting held on 25 October 2016, has authorised a committee of directors to evaluate options for monetization of a significant stake in Bharti Infratel, in accordance with applicable regulations. The final outcome of this exercise will be placed before the board for approval, before any final decision is taken. Bharti Airtel has also requested Bharti Infratel to allow sharing of any information with any prospective buyer, subject to customary confidentiality arrangements. There is no certainty of any transaction until such time the board reviews and approves the final proposal. The announcement was made after market hours on 25 October 2016.

Bharti Infratel, Indias leading telecom tower infrastructure provider, is a significant subsidiary of Bharti Airtel. Bharti Airtel has, in the past, divested stakes in Bharti Infratel to a clutch of private equity investors led by Temasek, KKR and other high quality investors in 2008. This was followed by an initial public offering (IPO) in the year 2012 and block sales in the stock market in 2014 and 2015. As on date Airtel holds 71.96% stake in Bharti Infratel.

On a consolidated basis, net profit of Bharti Infratel rose 30.80% to Rs 773.80 crore on 9.01% rise in net sales to Rs 1496.30 crore in Q2 September 2016 over Q2 September 2015.

Bharti Infratel is Indias leading provider of tower and related infrastructure and it deploys, owns and manages telecom towers and communication structures, for various mobile operators.

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SML Isuzu inches up after good monthly sales
Nov 01,2016

The company announced the monthly sales volume data during market hours today, 1 November 2016.

Meanwhile, the S&P BSE Sensex was up 85.48 points or 0.31% at 28,015.69.

On BSE, so far 25,000 shares were traded in the counter as against average daily volume of 17,875 shares in the past one quarter. The stock hit a high of Rs 1,363 and a low of Rs 1,317.05 so far during the day. The stock had hit a 52-week high of Rs 1,433.85 on 31 August 2016. The stock had hit a 52-week low of Rs 645.50 on 29 February 2016. The stock had outperformed the market over the past one month till 30 October 2016, advancing 4.6% compared with 0.23% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 5.37% as against Sensexs 0.43% fall.

The small-cap company has equity capital of Rs 14.47 crore. Face value per share is Rs 10.

SML Isuzus net profit rose 41.5% to Rs 41.12 crore on 21.1% rise in net sales to Rs 461.64 crore in Q1 June 2016 over Q1 June 2015.

SML Isuzu is a commercial vehicle manufacturer. Sumitomo Corporation, Japan and Isuzu Motors, Japan respectively held 43.96% and 15% stake in SML Isuzu (as per the shareholding pattern as on 30 June 2016).

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Volumes jump at NESCO counter
Nov 01,2016

NESCO clocked volume of 56,000 shares by 13:22 IST on BSE, a 58.65-times surge over two-week average daily volume of 951 shares. The stock fell 0.92% to Rs 1,949.95.

Thermax notched up volume of 60,000 shares, a 34.73-fold surge over two-week average daily volume of 2,000 shares. The stock fell 0.89% to Rs 855.80.

Container Corporation of India saw volume of 63,000 shares, a 21.72-fold surge over two-week average daily volume of 3,000 shares. The stock fell 0.31% to Rs 1,370.

MphasiS clocked volume of 1.02 lakh shares, a 17.92-fold surge over two-week average daily volume of 6,000 shares. The stock rose 0.84% to Rs 516.50.

Vimta Labs saw volume of 5.16 lakh shares, a 14.13-fold rise over two-week average daily volume of 37,000 shares. The stock rose 14.72% to Rs 122.

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