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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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Power Grid Corporation of India announces appointment of directors
Feb 21,2017

Power Grid Corporation of India announced that Ministry of Power has vide Order dt. 16 February 2017 conveyed the appointment of Tse Ten Dorji and Jyotika Kalra as part-time non-official Directors on the Board of POWERGRID for a period of three years from the date of notification of their appointment, or until further orders, whichever is earlier.

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State Bank of Travancore intimates of bank strike
Feb 21,2017

State Bank of Travancore announced that the United Forum of Bank Unions (UFBU) has called for an All India Bank Strike on 28 February 2017 raising various issues. In the event of the strike taking place, the normal Banking operations in our Bank may get affected on 28 February 2017.

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Tech Mahindra allots 255484 equity shares
Feb 21,2017

Tech Mahindra announced that the resolution passed by the Securities Allotment Committee of the Board of Directors of the Company on 20 February 2017 for issue and allotment of a total of 255484 equity shares of Rs. 5/- each under various ESOPs.

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Info Edge (India) fixes record date for 2nd interim dividend
Feb 21,2017

Info Edge (India) has fixed 06 March 2017 as the Record Date for the purpose of payment of 2nd Interim Dividend.

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Ambuja Cements drops in early trade
Feb 21,2017

Meanwhile, the S&P BSE Sensex was up 14.56 points or 0.05% at 28,676.14.

On the BSE, 70,000 shares were traded on the counter so far as against the average daily volumes of 1.12 lakh shares in the past one quarter. The stock had hit a high of Rs 238.50 and a low of Rs 232.25 so far during the day.

The stock had hit a 52-week high of Rs 282 on 31 August 2016 and a 52-week low of Rs 185 on 29 February 2016. The stock had outperformed the market over the past one month till 20 February 2017, surging 10.07% compared with the Sensexs 6.02% rise. The scrip had also outperformed the market over the past one quarter, gaining 20.33% as against the Sensexs 9.6% rise.

The large-cap company has equity capital of Rs 397.13 crore. Face value per share is Rs 2.

Ambuja Cements consolidated net profit surged 85.24% to Rs 205.70 crore on 102.41% growth in total income to Rs 4993.30 crore in Q4 December 2016 over Q4 December 2015.

The companys consolidated net profit rose 38.77% to Rs 1121.13 crore on 112.12% growth in total income to Rs 20861.97 crore in the year ended December 2016 over the year ended December 2015.

In its outlook, the company said that it expects good cement growth in 2017, supported by the governments continued focus on housing and infrastructure development and anticipate volume effects from demonetisation to be reduced by the end of Q1 March 2017. The announcement of interest subsidy schemes and an interest rate cut, the recent announcement in the Union Budget for infrastructure development, including the award of infrastructure status to affordable housing and the increased budget allocation for roads, railways and irrigation will be key drivers for cement demand, it added.

Ambuja Cements is engaged in manufacturing and marketing cement and clinker for both domestic and exports. The company sells cement under the Ambuja Cement brand.

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Vishal Fabrics fixes record date for rights issue
Feb 21,2017

Vishal Fabrics has fixed 03 March 2017 as the Record Date for the purpose of Rights Issue.

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Firstobject Technologies receives order from Andhra Pradesh Residential Educational Institutions Society
Feb 21,2017

Firstobject Technologies received an order from Andhra Pradesh Residential Educational Institutions Society (APREIS) to implement A.P. State Board content in its 50 Institutions. Firstobject has to implement A. P. State Board English Medium digital content for classes V -X in its Institutions.

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RBL Bank announces appointment of Executive Director
Feb 21,2017

RBL Bank announced that the Bank has received the approval from Reserve Bank of India (RBI) for appointment of Rajeev Ahuja, Head - Strategy, Retail, Transaction Banking and Financial Inclusion as Executive Director (ED) of the Bank for a period of three years from the date of his taking charge as ED.

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NDMA to conduct mock exercises on earthquake preparedness in Uttarakhand
Feb 21,2017

The National Disaster Management Authority (NDMA) will conduct two mock exercises on earthquake preparedness in this week covering all districts of Uttarakhand. The exercises, to be conducted in collaboration with the State Government, will assess the readiness of various stakeholder departments in the event of a high-intensity earthquake.

The first exercise will be held today (21 February) and cover Dehradun, Tehri Garhwal, Haridwar, Uttarkashi, Chamoli, Pauri Garhwal and Rudraprayag districts. In this connection, a coordination conference and a table-top exercise were held today through video-conferencing. Senior officials from all stakeholder departments such as NDRF, Health, Police, Education, Firefighting, Civil Defense, Public Relations, Transport, etc. attended these preparatory meetings.

Yet another round of a coordination conference and a table-top exercise will be held on Wednesday. This will be followed by the second mock exercise on Thursday covering Pithoragarh, Bageshwar, Champawat, Almora, Nainital and Udham Singh Nagar districts.

These exercises will deal with simulated scenarios of earthquakes wherein the participants will be trained on key aspects of Disaster Management such as the formation of Incident Response Teams and Emergency Operation Centres (EOC), coordination among various participating agencies, evacuation and medical preparedness.

Aimed at enhancing the preparedness and response mechanism of key stakeholders, these exercises will also help to highlight areas that need improvements. NDMA expert Major General V.K. Datta (Retd.), who will lead the exercises, said, Mock exercises help in filling gaps and ensuring better communication thus improving coordination among various agencies in real-life situations. He further emphasised on the need for regularly conducting such exercises in Uttarakhand as the entire hill State falls either in the Seismic Zone V or IV and has experienced many high-intensity earthquakes in the past.

After the drills, post-exercise analyses will also be carried out to discuss the shortcomings, challenges and ways to improve them.

NDMA regularly conducts such mock exercises across the country in its efforts to improve preparedness and response mechanisms for various disasters. NDMA has conducted more than 500 mock exercises in different States and Union Territories. Next month, it will conduct a mock exercise on flood and tsunami preparedness in Puducherry.

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Datamatics Global Services provides update on Datamatics Global Services FZ-LLC
Feb 21,2017

Datamatics Global Services announced that Datamatics Global Services FZ-LLC, wholly owned subsidiary Company has incorporated a new entity namely, Datamatics Global Services Corp. in Philippines.

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Ambuja Cements in spotlight after Q4 earnings
Feb 21,2017

Ambuja Cements consolidated net profit surged 85.24% to Rs 205.70 crore on 102.41% growth in total income to Rs 4993.30 crore in Q4 December 2016 over Q4 December 2015. The announcement was made after market hours yesterday, 20 February 2017.

TCS announced at the fag end of the trading session yesterday, 20 February 2017, that the board of directors of the company at a meeting held on 20 February 2017, approved a proposal to buyback up to 5.61 crore shares of the company for an aggregate amount not exceeding Rs 16000 crore, being 2.85% of the total paid up equity share capital, at Rs 2,850 per share. The buyback price was at a premium of 13.7% over yesterdays closing price.

The buyback is proposed to be made from the shareholders of the company on a proportionate basis under the tender offer route using the stock exchange mechanism.

Meanwhile, TCS after market hours yesterday, 20 February 2017 announced that Rajesh Gopinathan would be taking over as Chief Executive Officer and Managing Director from N. Chandrasekaran, with effect from 21 February 2017. The term of his appointment is for a period of 5 years. N. Ganapathy Subramaniam would assume the office of Chief Operating Officer and Executive Director, with effect from 21 February 2017. The term of his appointment is for a period of 5 years. Subramaniam is the brother of N. Chandrasekaran. The board of directors appointed V. Ramakrishnan as the Chief Financial Officer (CFO) of the company with effect from 21 February 2017.

N. Chandrasekaran has been appointed as the Chairman of Tata Sons, the promoter firm of many of the operating Tata group firms.

Siemens and Siemens Rail Automation Ltd. S.A.U Spain have jointly won an order worth Rs 287 crore, out of which Siemens share is Rs 146 crore (all inclusive). Siemens is to supply state-of-the-art signaling technology for the first two metro lines of the Nagpur Metro i.e. the North-South and the East-West corridors. The announcement was made after market hours yesterday, 20 February 2017.

The project comprises the deployment and installation of the Siemens communications-based train control (CBTC) solution Trainguard MT for 38.2 kilometers of double track with 36 stations and two depots, as well as onboard equipment for 23 three-cars trains.

Karnataka Bank announced that it has entered into a memorandum of understanding (MoU) with Daimler India Commercial Vehicles (DICV) for extending finance facilities to customers to purchase commercial vehicles manufactured by Daimler. The announcement was made after market hours yesterday, 20 February 2017.

Ashoka Buildcon announced that with reference to its wholly owned subsidiary viz. Viva Highways (VHL), implementing the Indore-Sanawad-Khandwa-Burhanpur -Edlabad Road Project SH-27 in Madhya Pradesh on build-operate and transfer (BOT basis) with toll rights, Madhya Pradesh Road Development Corporation, Bhopal (authority) has taken over the project on 18 February 2017 at midnight, after the expiry of the concession period as per the terms of the concession agreement. VHL will continue to pursue its claims on the project with the authority. The announcement was made after market hours yesterday, 20 February 2017.

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Oceanaa Biotek Industries to issue 33,65,275 equity shares
Feb 20,2017

Oceanaa Biotek Industries announced that the Committee constituted by the Board of Directors has now finalized issue of 33,65,275 equity shares of face value of Rs. 10/- each at an issue price of Rs. 60/- per equity share (including share premium of Rs. 50/- per equity share) aggregating to Rs. 20,19,16,500/- on preferential basis for consideration other than cash against taking over of existing operative Maturation and Hatchery facilities, subject to approval of the shareholders at the ensuing Extraordinary General Meeting and other Regulatory Authorities

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Tata Consultancy Services appoints CFO
Feb 20,2017

Tata Consultancy Services announced that the Board of Directors at its meeting held on 20 February 2017 appointed V. Ramakrishnan as the Chief Financial Officer of the Company with effect from 21 February 2017.

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Axis Bank allots 4,94,970 equity shares
Feb 20,2017

Axis Bank has allotted 4,94,970 equity shares of Rs. 2/- each on 20 February 2017, pursuant to exercise of options under its ESOP Scheme.

The paid up share capita! of the Bank will accordingly increase from Rs. 478,43,62,766 (239,21,81,383 equity shares of Rs. 2/- each) to Rs. 478,53,52,706 (239,26,76,353 equity shares of Rs. 2/- each).

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Health Secretary launches SAATHIYA Resource Kit and SAATHIYA SALAH Mobile App for Adolescents
Feb 20,2017

Shri C K Mishra, Secretary, Health and Family Welfare launched the SAATHIYA Resource Kit including Saathiya Salah Mobile App for adolescents, here today, as part of the Rashtriya Kishor Swasthya Karyakram (RKSK) program. One of the key interventions under the programme is introduction of the Peer Educators (Saathiyas) who act as a catalyst for generating demand for the adolescent health services and imparting age appropriate knowledge on key adolescent health issues to their peer groups. In order to equip the Saathiyas in doing so, the Health Ministry has launched the Saathiya Resource Kit (including Saathiya Salah Mobile App).

Introducing the Resource Kit and the Mobile App, Shri C K Mishra said that our country is home to 253 million adolescents which is largest in the world in terms of absolute numbers and when RMNCH programs were launched globally, India was the first country to add the +A i.e. adolescent component to the RMNCH, making it todays RMNCH+A program. He emphasized that adolescents are the critical mass of asset which in future would be the biggest dividends to the countrys economy; thereby their health and wellness are of utmost priority. To address and cater to the health and development needs of the countrys adolescents, Ministry of Health and Family Welfare launched Rashtriya Kishor Swasthya Karyakram (RKSK) in January 2014. RKSK identifies six strategic priorities for adolescents i.e. nutrition, sexual and reproductive health (SRH), non-communicable diseases (NCDs), substance misuse, injuries and violence (including gender-based violence) and mental health.

The most important component and driving force of RKSK program are its Peer Educators and this resource kit has been launched to enable them to communicate with the adolescents of their community, Shri Mishra stated. He specified that the kit is being launched to enable the 1.6 lakhs Peer Educators towards taking their job forward and answering all the queries in the minds of an adolescent in-spite of the plethora of media (Magazines, TV, internet etc.) available. The Peer Educators will be trained across the country in a phased manner, ensuring optimum use of the resource kit, which is a ready source of a range of communication material specially designed to help the Peer Educator to be recognized and respected as saathiya, a good friend for the adolescents.

This Resource Kit comprises i) Activity Book, ii) Bhranti-Kranti Game iii) Question-Answer Book and iv) Peer Educator Diary. In addition to the kit is the mobile app Saathiya Salah (downloadable from Google play-store) which acts as a ready information source for the adolescents in case they are unable to interact with the Peer Educators. The mobile app is also linked to another important piece of cost-effective information platform of a toll-free Saathiya Helpline (1800-233-1250) which will act as an e-counselor. While the short films will be played by the Peer Educators at their group meetings, the activity book and games will bring about discussion and resolve adolescent queries. Encashing on mobile technology, the shy adolescents or those unable to interact with the peer educators due to family reasons, can access the information through the free mobile app as well the toll free helpline.

Among senior officials of the Ministry at the launch, also present were the representatives of Development Partners (UNFPA, PFI) who contributed to development of the Resource Kit. Mr. Diega Polacios, Country Director,UNFPA stated that the Resource Kit has being designed to present the Peer Educators with key information on adolescent health, which would then enable them to communicate the same and help the adolescents at the grass root/village level. Further at the launch, demo of the Mobile App was conducted wherein a mock call was made to the Saathiya Helpline by Secretary (HFW).

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