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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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Den Networks leads gainers on BSEs A group
Jan 16,2017

Den Networks rose 6.87% at Rs 86.30. The stock topped the gainers in A group. On the BSE, 3.99 lakh shares were traded on the counter so far as against the average daily volumes of 63,000 shares in the past two weeks.

Manappuram Finance rose 6.05% at Rs 78. The stock was the second biggest gainer in A group. On the BSE, 6.84 lakh shares were traded on the counter so far as against the average daily volumes of 4.54 lakh shares in the past two weeks.

JK Tyre & Industries rose 5.37% at Rs 134.45. The stock was the third biggest gainer in A group. On the BSE, 5.65 lakh shares were traded on the counter so far as against the average daily volumes of 3.08 lakh shares in the past two weeks.

Housing Development & Infrastructure (HDIL) rose 5.20% at Rs 65.80. The stock was the fourth biggest gainer in A group. On the BSE, 30.56 lakh shares were traded on the counter so far as against the average daily volumes of 17.45 lakh shares in the past two weeks.

DLF rose 4.71% at Rs 129.95. The stock was the fifth biggest gainer in A group. On the BSE, 13.98 lakh shares were traded on the counter so far as against the average daily volumes of 11.58 lakh shares in the past two weeks.

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Ester Industries provides business update
Jan 16,2017

Ester Industries has filed another Patent application under PCT (Patent Cooperation Treaty) for Master Batch to produce Speciality polyester yarn. The Company has till now filed Patents for 9 products in Speciality Polymer business.

The Company is also planning to set up R&D and Innovation centre at Gurgaon at an approximate cost of Rs. 50 crore.

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Board of Purshottam Investofin to consider December quarter results
Jan 16,2017

Purshottam Investofin announced that the meeting of the Board of Directors of Company has been scheduled to be held on 25 January 2017, inter alia, to consider and approve the Unaudited Financial Results of the Company for the Quarter ended on 31 December 2016.

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Niwas Spinning Mills Board to consider December quarter results
Jan 16,2017

Niwas Spinning Mills announced that a Meeting of Board of Directors of the Company is proposed to be held on 30 January 2017, inter alia, the following subject will be considered at this meeting :

- To take on record un-audited Limited reviewed financial results for the quarter ended 31 December 2016.

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Shreyas Shipping & Logistics to announce December quarter results
Jan 16,2017

Shreyas Shipping & Logistics announced that the meeting of the Board of Directors of the Company will be held on 11 February 2017, inter alia, to consider and approve unaudited financial results of the Company for the quarter ended 31 December 2016.

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Gartner Says More Than 40 Percent of Data Science Tasks Will Be Automated by 2020
Jan 16,2017

More than 40 percent of data science tasks will be automated by 2020, resulting in increased productivity and broader usage of data and analytics by citizen data scientists, according to Gartner, Inc.

Gartner defines a citizen data scientist as a person who creates or generates models that use advanced diagnostic analytics or predictive and prescriptive capabilities, but whose primary job function is outside the field of statistics and analytics.

According to Gartner, citizen data scientists can bridge the gap between mainstream self-service analytics by business users and the advanced analytics techniques of data scientists. They are now able to perform sophisticated analysis that would previously have required more expertise, enabling them to deliver advanced analytics without having the skills that characterize data scientists.

With data science continuing to emerge as a powerful differentiator across industries, almost every data and analytics software platform vendor is now focused on making simplification a top goal through the automation of various tasks, such as data integration and model building.

Making data science products easier for citizen data scientists to use will increase vendors reach across the enterprise as well as help overcome the skills gap, said Alexander Linden, research vice president at Gartner. The key to simplicity is the automation of tasks that are repetitive, manual intensive and dont require deep data science expertise.

Mr. Linden said the increase in automation will also lead to significant productivity improvements for data scientists. Fewer data scientists will be needed to do the same amount of work, but every advanced data science project will still require at least one or two data scientists.

Gartner also predicts that citizen data scientists will surpass data scientists in the amount of advanced analysis produced by 2019. A vast amount of analysis produced by citizen data scientists will feed and impact the business, creating a more pervasive analytics-driven environment, while at the same time supporting the data scientists who can shift their focus onto more complex analysis.

Most organizations dont have enough data scientists consistently available throughout the business, but they do have plenty of skilled information analysts that could become citizen data scientists, said Joao Tapadinhas, research director at Gartner. Equipped with the proper tools, they can perform intricate diagnostic analysis and create models that leverage predictive or prescriptive analytics. This enables them to go beyond the analytics reach of regular business users into analytics processes with greater depth and breadth.

According to Gartner, the result will be access to more data sources, including more complex data types; a broader and more sophisticated range of analytics capabilities; and the empowering of a large audience of analysts throughout the organization, with a simplified form of data science.

Access to data science is currently uneven, due to lack of resources and complexity not all organizations will be able leverage it, said Mr. Tapadinhas. For some organizations, citizen data science will therefore be a simpler and quicker solution their best path to advanced analytics.

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Board of Punjab Communications to consider December quarter results
Jan 16,2017

Punjab Communications announced that the 189th meeting of the Board of Directors of the Company is proposed to be convened on 14 February 2017, to take on record the Un-audited (Provisional) Quarterly Financial Results of the Company for the quarter ended on 31 December 2016.

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Board of Vikas EcoTech approves preferential issue of 2 crore new shares
Jan 16,2017

Vikas EcoTech announced that the Board of Directors of the Company at its meeting held on 16 January 2017 passed the resolution subject to approval of shareholders, to issue 2 crore new shares to Jayant Chheda, Chairman, Prince Pipes and Fittings on preferential basis. After this allotment, Jayant Chhedas stake in the Company will exceed 8%. He already owns 1.26% stake in the Company through an investment made in July 2016. His company Prince Pipes and Fittings is a long term and strategic customer of Vikas EcoTech. The total funds of Rs 34 crore will be utilised for expansion of R&D facilities, setting up new manufacturing plants and strengthening marketing efforts for both domestic and export markets.

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Board of Panama Petrochem to consider Q3 and 9M results
Jan 16,2017

Panama Petrochem announced that the meeting of the Board of Directors of the Company will be held on 11 February 2017, inter-alia, to consider and approve the standalone and consolidated unaudited financial results of the Company for the third quarter / nine months ended 31 December 2016.

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Board of Oriental Veneer Products to consider Q3 results
Jan 16,2017

Oriental Veneer Products announced that the meeting of the Board of Directors of our Company is scheduled to be held on 27 January 2017, inter alia, to transact the following business:

1. To consider and approve the un-audited financial results of the Company for the third quarter ended 31 December 2016 as prescribed under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

2. To consider the Limited Review Report for the third quarter ended 31 December 2016.

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Board of Srikalahasthi Pipes to consider Q3 and 9M results
Jan 16,2017

Srikalahasthi Pipes announced that a Meeting of the Board of Directors of the Company will be held on 04 February 2017, inter alia, to consider and approve Un-audited Financial Results of the Company for the quarter and nine months period ended 31 December 2016.

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V-Mart Retail announces resignation of company secretary and compliance officer
Jan 16,2017

V-Mart Retail announced that Sudhir Kumar has resigned from the Company as Company Secretary & Compliance Officer w.e.f. closing of business hours on 13 January 2017.

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Outcome of board meeting of CMI
Jan 16,2017

CMI announced that the Board of Directors of the Company at its meeting held on 16 January 2017 approved the following -

Issue of a maximum of 5 lakh equity shares to promoters / promoter group on preferential basis. The equity shares shall be issued at an issue price of Rs 300 (including Rs 290 towards premium) per share.

The Board has taken note of additional working capital facilities from Rs 100 crore to Rs 150 crore provided by Syndicate Bank. The enhanced limits shall be released by the bank in January 2017.

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NHPC shuts down of TLDP-III (4x33) 132 MW Power Station in West Bengal
Jan 16,2017

NHPC announced that TLDP-III (4 X 33) 132 MW Power Station in West Bengal shall be under complete shutdown w.e.f. 16 January 2017 to 23 January 2017 for restoration work of GIS (Line-I Bay).

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Modern India to announce Q3 results
Jan 16,2017

Modern India announced that a Meeting of the Board of Directors of the Company will be held on 02 February 2017, inter-alia, to consider and approve the Unaudited Financial Results for 3rd Quarter ended 31 December 2016.

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