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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 Apollo Tyres to consider further fund raising
Jan 30,2017

Apollo Tyres announced that the board of directors of the Company at its upcoming meeting to be held on 01 February 2017, proposes to consider and recommend to the shareholders of the Company for their approval, further capital raising by the Company by way of issuance of equity shares, non-convertible debt instruments along with warrants and/or convertible securities other than warrants through a qualified institutions placement in accordance with applicable laws and subject to receipt of necessary approvals.

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Board of Sparc Systems to consider December quarter results
Jan 30,2017

Sparc Systems announced that meeting of the Board of Directors will be held on 14 February 2017, inter-alia, to consider and approve the Unaudited Financial Results for the quarter ended 31 December 2016 along with Limited Review Report.

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Board of Star Paper Mills to consider Q3 and 9M results
Jan 30,2017

Star Paper Mills announced that a meeting of the Board of Directors of Company is scheduled to be held on 10 February 2017 inter-alia, consider and approve the Unaudited financial results for the for the Quarter & Nine months ended on 31 December 2016.

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Board of Cosmo Ferrites to consider December quarter results
Jan 30,2017

Cosmo Ferrites announced that a meeting of Board of Directors of the Company is scheduled to be held on 07 February 2017, inter alia, to consider and approve the Audited Financial Results of the Company for the Quarter ended 31 December 2016.

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DCB Bank announces cessation of director
Jan 30,2017

DCB Bank announced Suhail Nathani, an Independent Director of the Bank, has ceased to be a Director of the Bank on 28 January 2017 after completing the term of eight consecutive years [the maximum permissible] as per the provisions of the Banking Regulation Act, 1949.

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Siyaram Silk Mills loses luster after reporting weak Q3 results
Jan 30,2017

The result was announced on Saturday, 28 January 2017.

Meanwhile, the S&P BSE Sensex was down 15.55 points or 0.06% at 27,866.91.

On BSE, so far 307 shares were traded in the counter as against average daily volume of 1,660 shares in the past one quarter. The stock had hit a high of Rs 1,405 and a low of Rs 1,372.75 so far during the day. The stock had hit a 52-week low of Rs 925 on 2 March 2016. The stock had hit a record high of Rs 1,690 on 1 November 2016.

It had outperformed the market over the past one month till 27 January 2017, gaining 19.86% compared with the Sensexs 6.37% rise. The scrip had, however, underperformed the market over the past one quarter declining 6.46% as against the Sensexs 0.12% fall.

The small-cap company has equity capital of Rs 9.37 crore. Face value per share is Rs 10.

Siyaram Silk Mills manufactures and markets textiles, cotton, woollen synthetics and synthetic blends. The company is known for its polyester blended worsted fabrics.

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Tata Coffee drops after weak Q3 results
Jan 30,2017

The result was announced after market hours on Friday, 27 January 2017.

Meanwhile, the S&P BSE Sensex was down 5.29 points or 0.02% at 27,877.17.

On the BSE, 37,000 shares were traded on the counter so far as against the average daily volumes of 69,258 shares in the past one quarter. The stock had hit a high of Rs 124.45 and a low of Rs 121.30 so far during the day.

The stock had hit a 52-week high of Rs 150.05 on 20 October 2016 and a 52-week low of Rs 81.70 on 17 February 2016. The stock had outperformed the market over the past one month till 27 January 2017, advancing 14.7% compared with the Sensexs 6.37% rise. The scrip had, however, underperformed the market over the past one quarter, sliding 0.24% as against the Sensexs 0.12% fall.

The small-cap company has equity capital of Rs 18.68 crore. Face value per share is Rs 1.

Commenting on the companys performance, Sanjiv Sarin, Managing Director, Tata Coffee said, the company continues to grow its instant coffee portfolio in a robust manner by focusing on enhanced sales in key geographies and strengthening customer relationships. The setting up of a state-of-the-art freeze dried coffee plant in Vietnam with an installed capacity of 5,000 million tonnes per annum will further strengthen Tata Coffees growth in the premium instant coffee segment thereby strengthening its global footprint.

Tata coffee is leading player in coffee business.

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Ashoka Buildcon secures Rs 116.72 crore power project in Bihar
Jan 30,2017

Ashoka Buildcon has received Letter of Award for the project viz. turnkey contracts for providing APL Services Connection with LT lines extension under State Plan (Mukhyamantri Vidhyut Sambandh Nischay Yojna) in 7 Circles under the jurisdiction of North Bihar Power Distribution Co., Patna in State of Bihar. The accepted contract value of the project is Rs 116.72 crore.

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Zuari Agro Chemicals gains after strong Q3 outcome
Jan 30,2017

The result was announced after market hours on Friday, 27 January 2017.

Meanwhile, the S&P BSE Sensex was down 19.19 points, or 0.07%, to 27,901.65.

On the BSE, 33,000 shares were traded on the counter so far as against the average daily volumes of 47,597 shares in the past one quarter. The stock had hit a high of Rs 356.80 and a low of Rs 343 so far during the day.

The stock had hit a 52-week high of Rs 383.40 on 25 January 2017 and a 52-week low of Rs 118.20 on 29 February 2016. The stock had outperformed the market over the past one month till 27 January 2017, advancing 52.8% compared with the Sensexs 6.37% rise. The scrip had also outperformed the market over the past one quarter advancing 48.01% as against the Sensexs 0.12% fall.

The small-cap company has equity capital of Rs 42.06 crore. Face value per share is Rs 10.

Zuari Agro Chemicals produces complex fertilizers of various grades along with seeds, pesticides, micro nutrients and specialty fertilizers.

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Rajesh Exports launches more than 50 new product designs
Jan 30,2017

Rajesh Exports has launched more than 50 new product designs, across all their 81 retail outlets - Shubh Jewellers in Karnataka, India. This is to take advantage of the surge in the retail demand on the back ofthe upcoming Wedding Season. Karnataka is a key Gold market in India and witnesses huge surge in demand during the Wedding Seasons.

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Board of Snowman Logistics to consider December quarter and half year results
Jan 30,2017

Snowman Logistics announced that the meeting of the Board of Directors of the Company is scheduled to be held on 07 February 2017 inter alia, to approve the Unaudited Financial Results of the Company for the quarter and half year ended 31 December 2016.

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Board of Thyrocare Technologies approves interim dividend for FY 2017
Jan 30,2017

Thyrocare Technologies announced that the Board of Directors of the Company at their meeting held on 28 January 2017, inter alia, has decided to pay an interim dividend of Rs. 5/- (Rupees Five only) per share for the financial year 2016-17.

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Just Dial gains after reporting rise in profitability in Q3
Jan 30,2017

The result was announced on Saturday, 28 January 2017.

Meanwhile, the S&P BSE Sensex was up 17.93 points or 0.06% at 27,900.39.

On the BSE, 79,789 shares were traded on the counter so far as against the average daily volumes of 1.81 lakh shares in the past one quarter. The stock had hit a high of Rs 391 and a low of Rs 373.60 so far during the day.

The stock had hit a 52-week high of Rs 903 on 20 April 2016 and a record low of Rs 318.20 on 27 December 2016. It had outperformed the market over the past one month till 27 January 2017, gaining 14.49% compared with the Sensexs 6.37% rise. The scrip had, however, underperformed the market over the past one quarter declining 12.47% as against the Sensexs 0.12% fall.

The small-cap company has equity capital of Rs 70.57 crore. Face value per share is Rs 10.

Just Dial is a leading local search engine in India.

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Bharat Electronics hits record high after strong Q3 earnings, stock split
Jan 30,2017

The result was announced after market hours on Friday, 27 January 2017.

Meanwhile, the S&P BSE Sensex was down 5.79 points or 0.02% at 27,876.67.

On the BSE, 43,000 shares were traded on the counter so far as against the average daily volumes of 40,232 shares in the past one quarter. The stock had hit a high of Rs 1,604.95 so far during the day, which is a record high. The stock hit a low of Rs 1,580 so far during the day.

The stock had hit a 52-week low of Rs 1,009 on 1 March 2016. The stock had outperformed the market over the past one month till 27 January 2017, advancing 12.45% compared with the Sensexs 6.37% rise. The scrip had also outperformed the market over the past one quarter, gaining 22.37% as against the Sensexs 0.12% fall.

The large-cap company has equity capital of Rs 223.36 crore. Face value per share is Rs 10.

Bharat Electronics board at its meeting held on 27 January 2017, approved 10-for-1 stock split. The board also approved interim dividend of Rs 3 per share for FY 2017.

Bharat Electronics was established at Bangalore, India, by the Government of India under the Ministry of Defence in 1954 to meet the specialised electronic needs of the Indian defence services. Over the years, it has grown into a multi-product, multi-technology, multi-unit company servicing the needs of customers in diverse fields in India and abroad.

The Government of India held 74.41% stake in Bharat Electronics (as per the shareholding pattern as on 31 December 2016).

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Thyrocare Technologies fixes record date for interim dividend
Jan 30,2017

Thyrocare Technologies has fixed 09 February 2017 as the Record Date for the purpose of Payment of Interim Dividend.

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