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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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Adani Transmission receives LoI for three transmission projects
Apr 03,2017

Adani Transmission has received three LOIs from RVPN (Rajasthan Rajya Vidyut Prasaran Nigam Limited) to construct, own, operate and maintain three transmission projects in the state of Rajasthan. The projects namely Hadoti Transmission Company Limited (PPP-8), Barmer Transmission Company Limited (PPP 9), and Thar Transmission Company Limited (PPP-10) collectively have approximately 350 Ckt kms of lines and 16 substations with transformation capacity of approx. 600 MVA at voltage level of 132/220 KV.

These assets were awarded through a Tariff Based Competitive BiddingProcess. With these Projects, ATL will strengthen its existent significantpresence in Rajasthan with 2 operational transmission projects (i.e. Aravali & Maru transmission company Ltd) and Suratgarh Bikaner project, which is under construction.

With completion of all ongoing projects and acquisition of Reliance InfrasOPERATIONAL Transmission Assets along with these three projects, thenetwork of ATL is expected to surpass 11000 ckt kms.

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Asian Paints indirect subsidiary - Berger International acquires CPLPL, Sri Lanka
Apr 03,2017

Asian Paints announced that its indirect subsidiary, Berger International, Singapore has completed the transaction of acquisition of CPLPL, Sri Lanka for a consideration of LKR 9050 million (approx. Rs 386.75 crore).

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ICRA announces closure of buyback of equity shares
Apr 03,2017

ICRA has bought back 96,720 equity shares at an average price of Rs 4135.54 per equity share. Accordingly, the Company has deployed Rs 39.99 crore, which represents 99.97% of the Maximum Buyback Size. Consequently, ICRA announced the closure of buyback with effect from 03 April 2017.

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JSW Steel marches ahead on good crude steel production in March
Apr 03,2017

The announcement was made on Sunday, 2 April 2017.

Meanwhile, the S&P BSE Sensex was up 288.10 points, or 0.97% to 29,908.60.

On the BSE, 2.85 lakh shares were traded in the counter so far, compared with average daily volumes of 7.97 lakh shares in the past one quarter. The stock had hit a high of Rs 192.25 and a low of Rs 187.10 so far during the day.

The stock had hit a record high of Rs 201.40 on 31 January 2017. The stock had hit a 52-week low of Rs 124 on 5 April 2016.

JSW Steels crude steel production rose 15% to 1.45 million tonnes in March 2017 over March 2016. The production of flat rolled products rose 16% to 1.05 million tonnes in March 2017 over March 2016. The production of long rolled products fell 4% to 0.27 million tonnes in March 2017 over March 2016.

On a consolidated basis, JSW Steel reported net profit of Rs 730.05 crore in Q3 December 2016 as against net loss of Rs 709.09 crore in Q3 December 2015. Net sales rose 61% to Rs 13797.50 crore in Q3 December 2016 over Q3 December 2015.

JSW Steel is the leading integrated steel company in India.

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Fortis Healthcare vaults after large bulk deal
Apr 03,2017

Meanwhile, the S&P BSE Sensex was up 231.95 points, or 0.78%, to 29,852.45

Bulk deal boosted volume on the scrip. On BSE, so far 32.49 lakh shares were traded in the counter, compared with an average volume of 10 lakh shares in the past one quarter. The stock hit a high of Rs 190.70 and a low of Rs 181.10 so far during the day.

The stock hit a record high of Rs 205 on 11 January 2017. The stock hit a 52-week low of Rs 142.60 on 9 November 2016. The stock had underperformed the market over the past 30 days till 31 March 2017, falling 3.17% compared with the Sensexs 2.71% rise. The scrip had also underperformed the market over the past one quarter, sliding 0.25% as against the Sensexs 11.24% rise.

The mid-cap company has an equity capital of Rs 517.73 crore. Face value per share is Rs 10.

On a consolidated basis, Fortis Healthcare reported net profit of Rs 453.29 crore in Q3 December 2016 as compared to net loss of Rs 29.16 crore in Q3 December 2015. Net sales rose 8% to Rs 109193 crore in Q3 December 2016 over Q3 December 2015.

Fortis Healthcare is a leading integrated healthcare delivery service provider in India. The healthcare verticals of the company primarily comprise hospitals, diagnostics and day care specialty facilities.

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Steel Strips Wheels advances after strong turnover in March
Apr 03,2017

The announcement was made during market hours today, 3 April 2017.

Meanwhile, the S&P BSE Sensex was up 249.36 points or 0.84% at 29,870.16. The S&P BSE Small-Cap index was up 169.41 points or 1.17% to 14,603.27.

On the BSE, 5,976 shares were traded on the counter so far as against the average daily volumes of 4,597 shares in the past one quarter. The stock had hit a high of Rs 849.85 in intraday trade, which is also a record high for the stock. The stock had hit a low of Rs 814.30 so far during the day.

The stock had hit 52-week low of Rs 338 on 31 March 2016. The stock had outperformed the market over the past one month till 31 March 2017, gaining 14.86% compared with 3.05% rise in the Sensex. The scrip had also outperformed the market in past one quarter, jumping 34.01% as against Sensexs 11.24% gains.

The small-cap company has equity capital of Rs 15.53 crore. Face value per share is Rs 10.

Steel Strips Wheels (SSWL) total wheel rim sales rose 3.5% to 12.68 lakhs in March 2017 over March 2016. The growth was largely driven by 2-digit growth in most profitable commercial vehicles & tractor segment wheels.

The company foresees a favorable impact on the overall profitability for this month based on the growth in most profitable segments. For the financial year ended 31 March 2017 (FY 2017), SSWL witnessed 10% volume growth, in line with the guidance given at the beginning of the year.

Jamshedpur plant (commercial wheel plant) recorded its highest production and sale in March 2017 and it operated at 110% utilization in March 2017.

Chennai plant recorded its highest production and sale in March 2017 and operated at highest capacity utilization of 85% in March 2017.

ln terms of value, the company has achieved gross turnover of Rs 143.45 crore in March 2017 as against Rs 127.48 crore in March 2016, there by recording growth of 13%. Net turnover rose 10% to Rs 126.55 crore in March 2017 over March 2016.

Net profit of Steel Strips Wheels fell 11.8% to Rs 13.68 crore on 19.2% rise in net sales to Rs 335.17 crore in Q3 December 2016 over Q3 December 2015.

Steel Strips Wheels designs and manufactures automotive steel wheels and is among the leading supplier to Indian and global automobile manufacturers.

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RCF drops on profit booking
Apr 03,2017

Meanwhile, the S&P BSE Sensex was up 246.48 points, or 0.83%, to 29,866.36

On BSE, so far 14.21 lakh shares were traded in the counter, compared with average daily volume of 8 lakh shares in the past one quarter. The stock hit a high of Rs 82.60 and a low of Rs 78.70 so far during the day. The stock hit a 52-week high of Rs 85.40 on 31 March 2017. The stock hit a 52-week low of Rs 38.30 on 31 March 2016.

The mid-cap company has an equity capital of Rs 551.69 crore. Face value per share is Rs 10.

Rashtriya Chemicals and Fertilizers (RCF) after net profit rose 36.59% to Rs 63.91 crore on 16.17% decline in total income to Rs 1699.12 crore in Q3 December 2016 over Q3 December 2015.

State-run Rashtriya Chemicals and Fertilizers (RCF) is one of the leading producers of urea in India. The Government of India (GoI) currently holds 80% stake in RCF (as per the shareholding pattern as on 31 December 2016).

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Bhel moves higher after commencing thermal power plant
Apr 03,2017

The announcement was made during market hours today, 3 April 2017.

Meanwhile, the S&P Sensex was up 255.61 points, 0.86% at 29,876.11.

On the BSE, 3.35 lakh shares were traded on the counter so far as against the average daily volumes of 4.24 lakh shares in the past two weeks. The stock had hit a high of Rs 167.60 and a low of Rs 163.10 so far during the day.

Bhel said that it has commissioned the 500 megawatts (MW) of NTPC Feroze Gandhi Unchahar thermal power plant (FGUTPP) in Uttar Pradesh. Bhel was awarded the contract for the manufacture, supply, erection and commissioning of boiler, turbine, generator, & associated auxiliaries, electrical switchyard and station controls & instrumentation.

The major equipment for the project has been manufactured by Bhel at its Haridwar, Trichy, Hyderabad, Bhopal, Ranipet and Bengaluru works, while the construction of the plant was undertaken by the companys power sector - Northern Region. The existing five units of 210 MW at FGUTPP, have also been commissioned earlier by Bhel.

Bhel has supplied and executed 33,000 megawatt coal-based power plants of NTPC and its joint ventures, which account for 80% of NTPCs coal based installed capacity.

Bharat Heavy Electricals reported net profit of Rs 93.54 crore in Q3 December 2016 as against net loss of Rs 1084.96 crore in Q3 December 2015. Net sales rose 18.3% to Rs 6187.48 crore in Q3 December 2016 over Q3 December 2015.

Bhel is an integrated power plant equipment manufacturer and one of the largest engineering and manufacturing company of its kind in India engaged in the design, engineering, manufacture, construction, testing, commissioning and servicing of a wide range of products and services for core sectors of the economy, viz. power, transmission, industry, transportation (railways), renewable energy, oil & gas, water and defence with over 180 products offerings to meet the needs of these sectors. The Government of India currently holds 63.06% stake in Bhel (as per the shareholding pattern as on 31 December 2016).

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Bajaj Electricals leads gainers in A group
Apr 03,2017

Bajaj Electricals jumped 15.52% to Rs 361.30 at 14:21 IST. The stock topped the gainers in the BSEs A group. On the BSE, 2.90 lakh shares were traded on the counter so far as against the average daily volumes of 63,000 shares in the past two weeks.

Network 18 Media & Investments surged 13.96% to Rs 40.40. The stock was the second biggest gainer in A group. On the BSE, 11.27 lakh shares were traded on the counter so far as against the average daily volumes of 2.83 lakh shares in the past two weeks.

Delta Corp gained 12.57% at Rs 203.70. The stock was the third biggest gainer in A group. On the BSE, 37.46 lakh shares were traded on the counter so far as against the average daily volumes of 12.83 lakh shares in the past two weeks.

Dishman Pharmaceuticals and Chemicals advanced 8.48% at Rs 314.55. The stock was the fourth biggest gainer in A group. On the BSE, 12.09 lakh shares were traded on the counter so far as against the average daily volumes of 4.78 lakh shares in the past two weeks.

Wockhardt rose 6.54% to Rs 767.10. The stock was the fifth biggest gainer in A group. On the BSE, 5.76 lakh shares were traded on the counter so far as against the average daily volumes of 12.83 lakh shares in the past two weeks.

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Prakash Industries allots 34,97,861 equity shares
Apr 03,2017

Prakash Industries has allotted 34,97,861 equity shares on 03 April 2017 on conversion of FCCBs. Consequently, the paid up capital of the Company has increased from Rs 139.04 crore to 142.54 crore.

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Adani Transmission hits record high
Apr 03,2017

The announcement was made during market hours today, 3 April 2017.

Meanwhile, the S&P BSE Sensex was up 256.56 points or 0.87% at 29,877.06. The S&P BSE Mid-Cap index was up 88.55 points or 0.63% at 14,185.20.

Higher than usual volumes were witnessed on the counter. On the BSE, 3.54 lakh shares were traded in the counter so far as against average daily volume of 1.59 lakh shares in the past one quarter. The stock had hit a high of Rs 70.25, which is also a record high for the stock. The stock had hit a low of Rs 64.50 so far during the day. The stock had hit a 52-week low of Rs 28.35 on 20 May 2016.

The stock had outperformed the market over the past one month till 31 March 2017, gaining 3.87% compared with 3.05% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 13.89% as against Sensexs 11.24% gains.

The mid-cap company has equity capital of Rs 1099.81 crore. Face value per share is Rs 10.

Adani Transmission (ATL) has received the 3 letter of intents from RVPN (Rajasthan Rajya Vidyut Prasaran Nigam Limited) to construct, own, operate and maintain three transmission projects in the state of Rajasthan. The projects namely Hadoti Transmission Company (PPP-8), Barmer Transmission Company (PPP 9), and Thar Transmission Company (PPP-10) collectively have approximately 350 circuit kilometers (ckt kms) of lines and 16 substations with transformation capacity of approx. 600 MVA at voltage level of 132/220 KV.

These assets were awarded through a tariff based competitive bidding process. With these projects, ATL will strengthen its existent significant presence in Rajasthan with 2 operational transmission projects (i.e. Aravali & Maru transmission company) and Suratgarh Bikaner project, which is under construction.

With the completion of all the ongoing projects and acquisition of Reliance Infrastructures operational transmission assets along with these three projects, the network of ATL is expected to surpass 11000 ckt kms.

Adani Transmissions consolidated net profit jumped 32.8% to Rs 99.28 crore on 38.5% rise in net sales to Rs 729.22 crore in Q3 December 2016 over Q3 December 2015.

Adani Transmission is into power transmission business and is a part of business conglomerate Adani Group.

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Board of Amit Spinning Industries decides to seek regulatory approval for closure of yarn manufacturing unit
Apr 03,2017

Amit Spinning Industries announced that due to financial constraints, non-availability of working capital and non-receipt orders, the Board of Directors have approved to move an application to the Secretary, Industries, Energy and Labour Department, Government of Maharashtra for seeking permission for closure of Yarn Manufacturing Unit situated at Kolhapur in Maharashtra, so as to control the operational and other expenses.

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Aries Agro to hold board meeting
Apr 03,2017

Aries Agro will hold a meeting of the Board of Directors of the Company on 3 April 2017.

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Nicco Uco Alliance Credit announces cessation of director
Apr 03,2017

Nicco Uco Alliance Credit announced that Lakshmi Narain Kaul ceased to be Managing Director of the Company with effect from 31 March 2017 following his retirement.

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Volumes jump at Gujarat Industries Power Company counter
Apr 03,2017

Gujarat Industries Power Company clocked volume of 35.8 lakh shares by 13:45 IST on BSE, a 317.06-times surge over two-week average daily volume of 11,000 shares. The stock rose 3.04% to Rs 106.75.

The Byke Hospitality notched up volume of 26.42 lakh shares, a 38.2-fold surge over two-week average daily volume of 69,000 shares. The stock declined 2.96% to Rs 180.

Sundaram Fasteners saw volume of 10.6 lakh shares, a 30.92-fold surge over two-week average daily volume of 34,000 shares. The stock gained 3.47% to Rs 404.40.

Dhanuka Agritech clocked volume of 1.01 lakh shares, a 7.01-fold surge over two-week average daily volume of 14,000 shares. The stock rose 0.5% to Rs 801.25.

Marico saw volume of 34.95 lakh shares, a 6.75-fold rise over two-week average daily volume of 5.18 lakh shares. The stock rose 0.25% to Rs 295.10.

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