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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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Elixir Capital to hold AGM
Jul 13,2017

Elixir Capital announced that the Annual General Meeting (AGM) of the company will be held on 26 August 2017.

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Shree Ram Urban Infrastructure to hold AGM
Jul 13,2017

Shree Ram Urban Infrastructure announced that the 80th Annual General Meeting (AGM) of the company will be held on 5 August 2017.

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Krishna Capital & Securities to hold AGM
Jul 13,2017

Krishna Capital & Securities announced that the 23rd Annual General Meeting (AGM) of the company will be held on 11 August 2017.

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Nagarjuna Agrichem to hold AGM
Jul 13,2017

Nagarjuna Agrichem announced that the 30th Annual General Meeting (AGM) of the company will be held on 5 August 2017.

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Gujarat Hotels to hold AGM
Jul 13,2017

Gujarat Hotels announced that the 35th Annual General Meeting (AGM) of the company will be held on 8 August 2017.

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Tata Coffee to hold board meeting
Jul 13,2017

Tata Coffee will hold a meeting of the Board of Directors of the Company on 27 July 2017, to consider the Financial Results of the Company for the quarter ended 30th June, 2017

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ADF Foods to hold board meeting
Jul 13,2017

ADF Foods will hold a meeting of the Board of Directors of the Company on 20 July 2017, to fix the date of dividend payment in respect of the final dividend on equity shares

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Apollo Finvest (India) to hold board meeting
Jul 13,2017

Apollo Finvest (India) will hold a meeting of the Board of Directors of the Company on 20 July 2017.

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Pentamedia Graphics to hold AGM
Jul 13,2017

Pentamedia Graphics announced that the 41st Annual General Meeting (AGM) of the company will be held on 23 August 2017.

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TCPL Packaging to hold board meeting
Jul 13,2017

TCPL Packaging will hold a meeting of the Board of Directors of the Company on 15 July 2017, to consider the proposal of raising funds through issue of equity shares on preferential allotment basis

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Elantas Beck India to hold board meeting
Jul 13,2017

Elantas Beck India will hold a meeting of the Board of Directors of the Company on 25 July 2017, to consider and approve the un-audited Financial Results of the Company for the quarter ended 30 June 2017.

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Kirloskar Industries to hold board meeting
Jul 13,2017

Kirloskar Industries will hold a meeting of the Board of Directors of the Company on 25 July 2017, to consider and take on record Standalone Un-audited Financial Results for the first quarter ended 30 June 2017.

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Anuh Pharma drops on profit booking
Jul 13,2017

Meanwhile, the S&P BSE Sensex was up 252.09 points or 0.79% at 32,056.91. The S&P BSE Small-Cap index rose 65.24 points or 0.41% at 15,962.25.

On the BSE, 6,872 shares were traded on the counter so far as against the average daily volumes of 8,407 shares in the past one quarter. The stock had hit a high of Rs 190 and a low of Rs 184 so far during the day. The stock had hit a 52-week high of Rs 290 on 20 September 2016 and a 52-week low of Rs 170 on 4 July 2017.

The stock had outperformed the market over the past one month till 12 July 2017, advancing 4.35% compared with the Sensexs 2.28% rise. The stock had, however, underperformed the market over the past one quarter, declining 7.72% as against the Sensexs 7.29% rise. The scrip had also underperformed the market over the past one year, sliding 12.83% as against the Sensexs 14.37% rise.

The small-cap company has equity capital of Rs 12.53 crore. Face value per share is Rs 5.

Shares of Anuh Pharma had surged 8.53% in the preceding six trading sessions to settle at Rs 188.25 yesterday, 12 July 2017, from its close of Rs 173.45 on 4 July 2017.

Anuh Pharmas net profit fell 11.1% to Rs 4.57 crore on 22% decline in net sales to Rs 54.70 crore in Q4 March 2017 over Q4 March 2016.

Anuh Pharma manufactures active pharmaceutical ingredients (APIs).

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Gartner Says Worldwide IT Spending Forecast to Grow 2.4 Percent in 2017
Jul 13,2017

Worldwide IT spending is projected to total $3.5 trillion in 2017, a 2.4 percent increase from 2016, according to Gartner, Inc. This growth rate is up from the previous quarters forecast of 1.4 percent, due to the U.S. dollar decline against many foreign currencies.

Digital business is having a profound effect on the way business is done and how it is supported, said John-David Lovelock, vice president and distinguished analyst at Gartner. The impact of digital business is giving rise to new categories; for example, the convergence of software plus services plus intellectual property. These next-generation offerings are fueled by business and technology platforms that will be the driver for new categories of spending. Industry-specific disruptive technologies include the Internet of Things (IoT) in manufacturing, blockchain in financial services (and other industries), and smart machines in retail. The focus is on how technology is disrupting and enabling business.

The Gartner Worldwide IT Spending Forecast is the leading indicator of major technology trends across the hardware, software, IT services and telecom markets. For more than a decade, global IT and business executives have been using these highly anticipated quarterly reports to recognize market opportunities and challenges, and base their critical business decisions on proven methodologies rather than guesswork.

The worldwide enterprise software market is forecast to grow 7.6 percent in 2017, up from 5.3 percent growth in 2016. As software applications allow more organizations to derive revenue from digital business channels, there will be a stronger need to automate and release new applications and functionality.

With the increased adoption of SaaS-based enterprise applications, there also comes an increase in acceptance of IT operations management (ITOM) tools that are also delivered from the cloud, said Mr. Lovelock. These cloud-based tools allow infrastructure and operations (I&O) organizations to more rapidly add functionality and adopt newer technologies to help them manage faster application release cycles. If the I&O team does not monitor and track the rapidly changing environment, it risks infrastructure and application service degradation, which ultimately impacts the end-user experience and can have financial as well as brand repercussions.

IT spending increased in 2016, but only two of the top 10 IT vendors posted organic revenue growth. With revenue sources still tied to the Nexus of Forces (the convergence of social, mobility, cloud and information), some of the top 10 vendors will fare better in 2017 due to strength in mobile phone sales. Worldwide spending on devices (PCs, tablets, ultramobiles and mobile phones) is projected to grow 3.8 percent in 2017, to reach $654 billion. This is up from the previous quarters forecast of 1.7 percent. Mobile phone growth will be driven by increased average selling prices (ASPs) for premium phones in mature markets due to the 10th anniversary of the iPhone and the increased mix of basic phones over utility phones. However, the tablet market continues to decline, as replacement cycles remain extended.

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Goa Carbon hits record high after strong Q1 earnings
Jul 13,2017

The result was announced during market hours today, 13 July 2017.

Meanwhile, the S&P BSE Sensex was up 236.08 points, or 0.74% at 32,040.90. The S&P BSE Small-Cap index was up 62.74 points, or 0.39% at 15,959.75.

High volumes were witnessed on the counter. On the BSE, 5.14 lakh shares were traded on the counter so far as against the average daily volumes of 1.90 lakh shares in the past one quarter. The stock had hit a high of Rs 383 so far during the day, which is also its record high. The stock hit a low of Rs 368.25 so far during the day. The stock had hit a 52-week low of Rs 85.10 on 21 November 2016.

The stock had outperformed the market over the past one month till 12 July 2017, advancing 133.06% compared with the Sensexs 2.28% rise. The scrip had also outperformed the market over the past one quarter gaining 142.51% as against the Sensexs 7.29% rise. The scrip had also outperformed the market over the past one year advancing 263.4% as against the Sensexs 14.37% rise.

The small-cap company has equity capital of Rs 9.15 crore. Face value per share is Rs 10.

Shares of Goa Carbon had witnessed a pre-result rally. The stock had surged 23.74% in three trading sessions to settle at Rs 364.85 yesterday, 12 July 2017, from a close of Rs 294.85 on 7 July 2017.

Goa Carbon is engaged in the business of manufacturing and marketing of calcined petroleum coke.

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