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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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Board of Indian Oil Corporation to consider Q3 results
Jan 12,2017

Indian Oil Corporation announced that a Board Meeting of the Company is scheduled on 31 January 2017, inter alia, to consider and approve the Unaudited Financial Results of the Company for the third quarter ended 31 December 2016 (Q3).

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Board of Sundaram Brake Linings to consider Q3 and 9M results
Jan 12,2017

Sundaram Brake Linings announced that a meeting of the Board of Directors of the Company is scheduled to be held on 02 February 2017, inter alia, to consider and approve the Unaudited Financial Results for the Quarter / Nine months ended 31 December 2016.

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Anjani Portland Cement commissions 16 MW captive power plant
Jan 12,2017

Anjani Portland Cement announced that the 16 MW coal based Captive Power Plant has been commissioned successfully at the Factorys cement plant in Telangana.

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NTPC plans to take over Chhabra Thermal Power Plant
Jan 12,2017

NTPC has signed a non-binding MoU with Rajasthan Rajya Vidyut Utpadan Nigam and Rajasthan Urja Vikas Nigam for take-over of Chhabra Thermal Power Plant Stage-I (4x 250 MW) and Stage-II (2x660 MW) of Rajasthan Urja Vikas Nigam by NTPC.

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Steel Strip Wheels bags export order
Jan 12,2017

Steel Strip Wheels has bagged another after market exports order for supply of Caravan Steel wheels for EU Trailer market. Total order covers supplies of 62,000 wheels in 3 months. Orders comprise of 13 steel wheels to be supplied from SSWL with shipments starting from February 2017.

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Board of Everest Organics approves allotment of shares on conversion of warrants
Jan 12,2017

Everest Organics announced that the Board of Directors of the Company at its meeting held on 12 January 2017, the following has been approved/ resolved :

- Allotment of 3,60,000 Equity Shares on conversion of 3,60,000 warrants.

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Board of Zydus Wellness to consider Q3 and 9M results
Jan 12,2017

Zydus Wellness announced that the meeting of the Board of Directors of the Company will be held on 30 January 2017 to consider apart from other agenda items to approve the unaudited financial results for the quarter / nine months ended on 31 December 2016.

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Indraprastha Medical Corporation to announce Q3 and 9M results
Jan 12,2017

Indraprastha Medical Corporation announced that a meeting of the Board of Directors of the Company will be held on 30 January 2017, to consider and approve the Unaudited Financial Results for the quarter and nine months ended 31 December 2016.

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Board of Rolcon Engineering Company to consider December quarter results
Jan 12,2017

Rolcon Engineering Company announced that a Meeting of the Board of Directors of the Company will be held on 27 January 2017, inter alia, to consider, take on record and approve the following:

1. To consider and approve the Unaudited financial Result of the company for the quarter ended on 31 December 2016.

2. To consider and approve other applicable Secretarial Compliances items.

3. To take note of the information Memoranda as per secretarial Standards.

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Ugar Sugar Works to announce December quarter and segment-wise results
Jan 12,2017

Ugar Sugar Works announced that the meeting of the Board of Directors of the Company will be held on 03 February 2017, to approve and take on record Un-Audited Financial Result and Segment-wise Revenue Result for the quarter ended 31 December 2016.

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Board of Gujarat Alkalies & Chemicals to consider Q3 and 9M results
Jan 12,2017

Gujarat Alkalies & Chemicals announced that the Board of Directors of the Company will meet on 27 January 2017, for considering Quarterly Un-audited (Provisional) Financial Results for the Third Quarter and Nine Months ended on 31 December 2016.

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Pharma stocks drop on Trumps rhetoric on drug pricing
Jan 12,2017

Meanwhile, the BSE Sensex was up 84.90 points, or 0.31%, to 27,225.31.

Glenmark Pharmaceuticals (down 1.18%), Aurobindo Pharma (down 2.36%), Cipla (down 0.15%), Dr Reddys Laboratories (down 1.58%), Cadila Healthcare (down 2.13%), Lupin (down 1.27%), Divis Laboratories (down 0.5%), Wockhardt (down 2.25%) and Sun Pharmaceutical Industries (down 1.5%) declined.

The BSE Healthcare index had underperformed the market over the past one month till 11 January 2017, falling 2.71% compared with the Sensex 1.47% gains. The index had also underperformed the market in past one quarter, declining 7.36% as against Sensexs 3.35% decline.

US President-elect Donald Trump said in his first press conference late yesterday, 11 January 2017 that pharmaceutical companies were getting away with murder with respect to drug pricing and promised a complete turnaround, making healthcare less expensive and better.

He said that US is the largest buyer of drugs in the world, and yet, the country does not bid properly, prioritising bringing back drug industries back to the US. He added that US firms would start bidding and save billions.

Trump also said he would repeal and replace Obamacare-the countrys existing affordable healthcare legislation-shortly after price approvals, which could impact pharma companies.

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Dewan Housing Finance Corporation gains on plan to raise funds
Jan 12,2017

The announcement was made after market hours yesterday, 11 January 2017.

Meanwhile, the S&P BSE Sensex was up 132.89 points or 0.49% at 27,273.30.

On the BSE, 95,000 shares were traded on the counter so far as against the average daily volumes of 2.86 lakh shares in the past one quarter. The stock had hit a high of Rs 273.75 and a low of Rs 268.30 so far during the day.

The stock had hit a record high of Rs 337 on 20 October 2016 and a 52-week low of Rs 140.55 on 12 February 2016.

The mid-cap company has equity capital of Rs 313.13 crore. Face value per share is Rs 10.

Dewan Housing Finance Corporation said that a meeting of the board of directors of the company is scheduled on 16 January 2017, for raising funds by way of issue of preference shares.

Dewan Housing Finance Corporations net profit rose 29% to Rs 232.61 crore on 19.7% rise in operating income to Rs 2167.72 crore in Q2 September 2016 over Q2 September 2015.

Dewan Housing Finance Corporation provides loans for purchase or construction of residential houses.

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Atlanta gains after winning highway project from NHAI
Jan 12,2017

The announcement was made after market hours yesterday, 11 January 2017.

Meanwhile, the BSE Sensex was up 39.33 points, or 0.14%, to 27,179.74.

On the BSE, 1.97 lakh shares were traded in the counter so far, compared with an average volume of 1.37 lakh shares in the past one quarter. The stock had hit a high of Rs 83.50 and a low of Rs 79.40 so far during the day. The stock had hit a 52-week high of Rs 84.15 on 24 October 2016. The stock had hit a 52-week low of Rs 27.30 on 12 February 2016.

The stock had outperformed the market over the past one month till 11 January 2017, rising 14.71% compared with the Sensex 1.47% gains. The scrip had also outperformed the market in past one quarter, rising 9.83% as against Sensexs 3.35% decline.

The small-cap company has an equity capital of Rs 16.30 crore. Face value per share is Rs 2.

Atlanta said that it has been declared as a preferred bidder by the National Highways Authority of India (NHAI) for six laning of a section of national highway (NH)-8 in Gujarat under National Highways Development Project (NHDP) Phase V (Package-VI) on hybrid annuity mode. The total cost of the project is Rs 1292 crore.

The company will form a special purpose vehicle (SPV) for the implementation of the project.

Net profit of Atlanta jumped 1481.3% to Rs 12.57 crore on 53.3% rise in net sales to Rs 41.15 crore in Q2 September 2016 over Q2 September 2015.

Atlanta is engaged in the business of infrastructure development.

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Murudeshwar Ceramics gains as board to consider preferential issue of shares
Jan 12,2017

The announcement was made after market hours yesterday, 11 January 2017.

Meanwhile, the S&P BSE Sensex was up 104.66 points, or 0.39%, to 27,245.07

On the BSE, 34,000 shares were traded on the counter so far as against the average daily volumes of 32,692 shares in the past one quarter. The stock had hit a high of Rs 33 and a low of Rs 31.90 so far during the day.

The stock hit a 52-week high of Rs 40.95 on 28 September 2016. The stock hit a 52-week low of Rs 17.70 on 29 February 2016. The stock had outperformed the market over the past 30 days till 11 January 2017, rising 2.35% compared with 1.66% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 13.89% as against Sensexs 1.82% fall.

The small-cap company has equity capital of Rs 40.81 crore. Face value per share is Rs 10.

Murudeshwar Ceramics has steadily progressed to become one of Indian++s largest tile manufacturing company, producing the widest range of products in ceramic and vitrified tiles.

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