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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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Ramco Systems allits equity shares
Nov 25,2016

Ramco Systems on 25th November 2016 has allotted 10,413 equity shares of Rs 10 each being the exercise of 2,644 equity stock options under the Employee Stock Option Scheme, 2009 - Plan A, (ESOS 2009 - Plan A), 4,993 equity stock options under the Employee Stock Option Scheme, 2009 - Plan B (ESOS 2009 - Plan B) and 2,776 equity stock options under the Employee Stock Option Scheme, 2013 (ESOS 2013).

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Farm produce worth Rs 3.8K crore traded through e-NAM till 16 November: Radha Mohan Singh
Nov 25,2016

Farm produce worth Rs 3,841 crore has been traded through electronic-National Agriculture Market (e-NAM) till 16 November in 250 wholesale markets connected to this platform, Union Agriculture and Farmers Welfare Minister, Mr Radha Mohan Singh said at an ASSOCHAM event.

n++About 5.5 lakh farmers have sold their produce, while 54,000 traders have made purchases and 28,000 commission agents have registered themselves till about eight days before today,n++ said Mr Singh while inaugurating an ASSOCHAM conference on Linking farmers with market.

n++We had started it on a pilot project basis and have tried to remove all the anomalies related to both hardware and software and it is now moving very fast towards empowering farmers to allow them to sell their produce,n++ said the Union Minister.

He informed that the Agriculture and Farmers Welfare Ministry is working towards setting up hub centres for providing milk, eggs, fruits, vegetables, flowers and other such things near metros as part of the online trading platform.

n++Chinese capital has population twice as much that of Delhi but everything is available within a radius of 150 kilometres, while in Delhi milk comes from Andhra Pradesh and vegetables from Kolkata,n++ said Mr Singh.

n++As such we are going to make provision under the mandi laws and we have conducted 3-4 meetings in NCR (National Capital Region) to make Gurgaon a hub for flowers, while Sonepat and Panipat would be made hub for vegetables and Karnal for indigenous cows milk and we are also in talks with UP (Uttar Pradesh) in this regard,n++ he added.

He also informed that laboratories are also being set up in electronic wholesale markets to check quality of the farmers produce so that any trader or farmer can purchase or sell the same across India.

n++These facilities are already available within the states but now we are working towards making it feasible inter-state and the GST (goods and services tax) will play a significant role in this regard,n++ informed Mr Singh.

He said that the government will also work towards improving the mandi laws and try to establish them in private sector by improving marketing related laws.

n++We have made amendments in marketing related laws in about 22 states and licenses are being issued to set up mandis in the private sector,n++ said the Minister.

Talking about impact of demonetisation on agriculture sector, he said that the Centres move to ban 500 and 1,000 notes has not affected sowing of rabi crops.

n++It is such a huge decision that some inconvenience being caused is quite natural, opposition to demonetisation is equivalent to supporting black money, terrorism and fake currency as such people should refrain from taking political benefit of this issue,n++ said Mr Singh.

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Golkonda Aluminium Extrusions to hold AGM
Nov 25,2016

The Annual General Meeting of Golkonda Aluminium Extrusions will be held on 19 December 2016.

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LT Foods gains over 4% in two sessions
Nov 25,2016

The announcement was made during trading hours yesterday, 24 November 2016. Shares of LT Foods rose 2.43% to Rs 257 on that day. The stock has risen 4.76% in two sessions from its close of Rs 250.90 on 23 November 2016.

Meanwhile, the BSE Sensex was up 276.63 points, or 1.07%, to 26,136.80.

On BSE, so far 4,566 shares were traded in the counter, compared with average daily volume of 2,139 shares in the past one quarter. The stock hit a high of Rs 267.15 and a low of Rs 260 so far during the day. The stock hit a record high of Rs 319.20 on 20 July 2016. The stock hit a 52-week low of Rs 180 on 12 February 2016. The stock had outperformed the market over the past 30 days till 24 November 2016, falling 5.53% compared with the 7.10% decline in the Sensex. The scrip had, however, outperformed the market in past one quarter, falling 11.32% as against Sensexs 6.92% decline.

The small-cap company has equity capital of Rs 26.66 crore. Face value per share is Rs 10.

LT Foods, a global specialty foods company with leading consumer brands including Daawat, Royal, Devaaya among others in India as well as US, entered into a joint venture (JV) with Kameda Seika of Japan to manufacture and market rice based snacks in India.

Kameda is the global leader in rice based snacks and it commands about 30% market share in Japan and has a prominent presence in the gluten free cracker market in the United States. LT Foods and its partner Kameda believe the large and expanding urban middle-class in India are ripe for a healthy and tasty alternative to fried potatoes and wheat based snacks.

Through this partnership, the JV will introduce rice based snacks with proprietary Japanese technologies developed over 30 years. These products have been highly successful in South East Asia and the US. The joint venture plans to launch four different flavours customized for palate of Indian consumers. Once JV has cultivated and established a stable position enough in Indian market, the JV will look at exporting the product to regional markets in South Asia.

The JV will start manufacturing the snack range in Sonepat (Haryana) later in the next financial year. The JV will become pioneer in the rice based snack food category.

On consolidated basis, LT Foods net profit rose 9.36% to Rs 25.01 crore on 20.41% growth in net sales to Rs 829.24 crore in Q2 September 2016 over Q2 September 2015.

LT Foods has a diversified product portfolio of branded basmati rice, value-added staples and organic food. While Basmati rice remains its core proposition, the companys vision is to emerge as a global specialty food company, admired for its wide range of quality food products.

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Bannari Amman Sugars to hold AGM
Nov 25,2016

The Annual General Meeting of Bannari Amman Sugars will be held on 29th December 2016.

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Central Government takes various decisions relating to certain operational aspects of Scheme relating to cancellation of old Rs. 500 & Rs. 1000 notes
Nov 25,2016

The Central Government has been reviewing the issues related to the cancellation of legal tender character of old Rs. 500 and Rs. 1000 notes. The Government has also been receiving various suggestions in this regard. After due consideration of all relevant aspects, the following decisions relating to certain operational aspects of the Scheme have now been taken:

(i) It has been observed that over the counter exchange of the old currency notes of Rs. 500 and Rs. 1000 denomination has shown a declining trend. It has further been felt that people may be encouraged and facilitated to deposit their old Rs. 500 and Rs. 1000 notes in their bank accounts. This will encourage people who are still unbanked, to open new bank accounts. Consequently, there will be no over the counter exchange of old Rs. 500 and Rs. 1000 notes after midnight of 24.11.2016.

(ii) Government had also permitted various exemptions for certain transactions and activities wherein payment could be made through old Rs. 500 and Rs. 1000 notes. It has been decided that all these exemptions, with the additions and modifications as detailed below, may be continued for a further period from the midnight of 24 November 2016 up to and inclusive of 15 December 2016 :-

(a) Payments for the transactions under all the exempted categories will now be accepted only through old Rs. 500 notes;

(b) Payment of School fees up to Rs. 2000 per student in Central Government, State Government, Municipality and local body schools;

(c) Payment of fees in Central or State Government colleges;

(d) Payments towards pre paid mobile top-up to a limit of Rs. 500 per top-up;

(e) Purchase from Consumer Cooperative Stores will be limited to Rs. 5000 at a time;

(f) Payment of current and arrear dues to utilities will be limited to only water and electricity. This facility will continue to be available only for individuals and households;

(g) Considering that the Ministry of Road Transport and Highways have continued the toll free arrangement at the toll plazas up to 2 December 2016, it has been decided that toll payment at these toll plazas may be made through old Rs. 500 notes from 3 December 2016 to 15 December 2016.

(h) Foreign citizens will be permitted to exchange foreign currency up to Rs. 5000 per week. Necessary entry to this effect will be made in their passports. (Necessary instructions in this regard will be issued by the RBI.)

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Pennar builds up gains after making further investment in subsidiary
Nov 25,2016

The announcement was made after market hours yesterday, 24 November 2016.

Meanwhile, the S&P BSE Sensex was up 259.84 points or 1% at 26,120.01

On BSE, so far 14,000 shares were traded in the counter as against average daily volume of 80,918 shares in the past one quarter. The stock hit a high of Rs 42.90 and a low of Rs 41.90 so far during the day. The stock had hit a 52-week low of Rs 38.50 on 29 February 2016. The stock had hit a 52-week high of Rs 61.35 on 12 January 2016. The stock had underperformed the market over the past 30 days till 24 November 2016, sliding 19.49% compared with the 7.10% decline in the Sensex. The scrip, however, outperformed the market in past one quarter, falling 6.48% as against Sensexs 6.92% decline.

The small-cap company has equity capital of Rs 60.17 crore. Face value per share is Rs 5.

Pennar Industries said that the company has invested initially Rs 2.9 lakh and acquired 29,411 shares in Pennar Renewables on 14 October 2015. Pursuant to the investment, Pennar Renewables became subsidiary of the company. Later on as per the understanding and terms of the investment, Pennar Industries has further invested Rs 49.5 crore for 49.80 lakh shares in Pennar Renewables.

Pennar Industries consolidated net profit rose 14.06% to Rs 10.14 crore on 12.05% growth in total income to Rs 380.69 crore in Q2 September 2016 over Q2 September 2015.

Pennar Industries is one of Indias leading industrial organizations offering specialized, engineered steel solutions.

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Aviva Industries CFO resigns
Nov 25,2016

Jignesh Rathod the Chief Financial Officer of Aviva Industries has tendered his resignation from his position with effect from the close of business hours of 24 November 2016.

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Vardhman Textiles gains after shareholders approve buyback
Nov 25,2016

The company made the announcement after market hours yesterday, 24 November 2016.

Meanwhile, the BSE Sensex was up 253.60 points, or 0.98%, to 26,113.77.

On BSE, so far 3,155 shares were traded in the counter, compared with average daily volume of 20,849 shares in the past one quarter. The stock hit a high of Rs 1,097.50 and a low of Rs 1,080.30 so far during the day. The stock hit a record high of Rs 1,159.75 on 28 October 2016. The stock hit a 52-week low of Rs 651.50 on 20 January 2016. The stock had outperformed the market over the past 30 days till 24 November 2016, falling 3.01% compared with the 7.10% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 6.93% as against Sensexs 6.92% decline.

The mid-cap company has equity capital of Rs 63.65 crore. Face value per share is Rs 10.

On 24 September 2016, the board of Vardhman Textiles approved the proposal to buyback the fully paid-up equity shares of the company. The company later sought shareholders approval through a postal ballot process. The shareholders voted in favor of the proposed buyback of shares. The result of postal ballot was declared on 24 November 2016.

The buyback shall be upto an aggregate amount not exceeding Rs 720 crore at a maximum price of Rs 1,175. At maximum buyback price, the buyback translates into approximately 61.27 lakh equity shares of the company.

On a consolidated basis, Vardhman Textiles net profit surged 231.35% to Rs 454.01 crore on 3.40% rise in net sales to Rs 1496.88 crore in Q2 September 2016 over Q2 September 2015.

Vardhman Group is a leading textile conglomerate in India. The group business portfolio includes yarn, greige and processed fabric, sewing thread, acrylic fibre and alloy steel.

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Coal India to hold board meeting
Nov 25,2016

Coal India will hold its board meeting on 13th December 2016, to consider, approve and take on record Un-Audited Half Yearly Financial Results of the Company (Standalone & Consolidated) for the 2nd Quarter and half year ended 30 September 2016 (Q2).

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Rubfila International to hold EGM
Nov 25,2016

Rubfila International will hold Extra-Ordinary General Meeting on 21st December 2016, to consider alteration of Articles of Association of the Company, to consider issue of equity shares on a preferential basis to Promoters and Person Acting in Concert, Issue of warrants convertible into equity shares on preferential basis to Promoters and Person Acting in Concert.

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Talwalkars flexes muscles after announcing demerger of gym business
Nov 25,2016

The announcement was made after market hours yesterday, 24 November 2016.

Meanwhile, the BSE Sensex was up 134.29 points, or 0.52%, to 25,996.46

On BSE, so far 15,000 shares were traded in the counter, compared with an average volume of 26,386 shares in the past one quarter. The stock hit a high of Rs 239.55 and a low of Rs 232.65 so far during the day. The stock hit a 52-week high of Rs 302.05 on 3 October 2016. The stock hit a 52-week low of Rs 182 on 29 March 2016. The stock had underperformed the market over the past 30 days till 24 November 2016, sliding 16.48% compared with the 7.10% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 12.84% as against Sensexs 6.92% decline.

The small-cap company has equity capital of Rs 29.70 crore. Face value per share is Rs 10.

Talwalkars Better Value Fitness said that in order to achieve better management and to have clear focus on business operations, the management of the company has decided to demerge gym business, thereby transferring gym business of Talwalkars Better Value Fitness to Talwalkars Lifestyles, in the interests of maximizing overall shareholder value. The gym business offers a diverse suite of services including gyms, spas, aerobics, yoga and health counseling under the brand Talwalkars. As on 31 March 2016, the gym business has 176 fitness centers in 85 cities across India and Sri Lanka serving over 1.68 lakh members. The turnover of gym business stood at Rs 197.61 crore or 86.21% of total business of Talwalkars Better Value Fitness in the latest financial year.

The shareholders of Talwalkars Better Value Fitness will get one equity share of Talwalkars Lifestyles for each share held of Talwalkars Better Value Fitness. The shares of Talwalkars Lifestyles will be listed on the stock exchanges, after the effectiveness of the scheme, Talwalkars Better Value Fitness said.

On consolidated basis, Talwalkars Better Value Fitness net profit rose 18.23% to Rs 29.12 crore on 11.38% rise in net sales to Rs 91.59 crore in Q2 September 2016 over Q2 September 2015.

Talwalkars Better Value Fitness is a leading chain of health and fitness centers in India.

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Wipro gains after completing acquisition of Appirio
Nov 25,2016

The announcement was made after market hours yesterday, 24 November 2016.

Meanwhile, the BSE Sensex was up 163.11 points, or 0.63%, to 26,023.28.

On BSE, so far 37,000 shares were traded in the counter, compared with average daily volume of 1.81 lakh shares in the past one quarter. The stock hit a high of Rs 461.90 and a low of Rs 451.45 so far during the day. The stock hit a 52-week high of Rs 606.75 on 20 April 2016. The stock hit a 52-week low of Rs 410 on 9 November 2016. The stock had outperformed the market over the past 30 days till 24 November 2016, falling 4.54% compared with the 7.10% decline in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 7.96% as against Sensexs 6.92% decline.

The large-cap IT company has equity capital of Rs 486.17 crore. Face value per share is Rs 2.

Wipro announced that it has completed the acquisition of Appirio on 23 November 2016. As mentioned in the media presentation submitted as part of results for the quarter ended 30 September 2016, impact of the Appirio acquisition is expected to reflect in the financials of Wipro for the quarter ending 31 December 2016, the company said.

Wipros consolidated net profit rose 0.9% to Rs 2070.40 crore on 1.45% rise in net sales to Rs 13896.80 crore in Q2 September 2016 over Q1 June 2016.

Wipro is a leading information technology, consulting and business process services company that delivers solutions to enable its clients do business better.

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Sunil Hitech Engineers gains after setting record date for stock-split, bonus issue
Nov 25,2016

The announcement was made after market hours yesterday, 24 November 2016.

Meanwhile, the S&P BSE Sensex was up 157 points or 0.61% at 26,017.17

On BSE, so far 2.34 lakh shares were traded in the counter as against average daily volume of 3.20 lakh shares in the past one quarter. The stock hit a high of Rs 172.80 and a low of Rs 168.40 so far during the day. The stock had hit a record high of Rs 468.65 on 20 October 2016. The stock had hit a 52-week low of Rs 155 on 24 June 2016. The stock had underperformed the market over the past 30 days till 24 November 2016, sliding 59.85% compared with the 7.10% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 7.5% as against Sensexs 6.92% decline.

The small-cap company has equity capital of Rs 18.90 crore. Face value per share is Rs 10.

Sunil Hitech Engineers net profit rose 39.74% to Rs 14.84 crore on 19.6% growth in net sales to Rs 496.91 crore in Q2 September 2016 over Q2 September 2015.

Sunil Hitech Engineers is an engineering, procurement & construction (EPC) company.

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Crompton Greaves Consumer Electricals receives approval for shares reclassification
Nov 25,2016

Crompton Greaves Consumer Electricals has received approval from the National Stock Exchange of India for reclassification of shares held by its Promoter Category shareholders, Avantha Holdings Limited, Varun Prakashan Private Limited, and Avantha Realty Limited to Public Category. The Companys application with BSE Limited is under process.

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