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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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Brigade Enterprises leases office space to TCS
May 16,2017

Tata Consultancy Services has signed a deal for office space in Brigade Bhuwalka Icon, a 3.75 lakh sq. ft development strategically located on Whitefield main road. The office space will house more than 4,000 IT professionals and the office is expected to start operations in around 4 months.

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Future Lifestyle Fashions hits record high after strong Q4 earnings
May 16,2017

The result was announced after market hours yesterday, 15 May 2017.

Meanwhile, the S&P BSE Sensex was up 123.51 points, or 0.41% at 30,445.63. The S&P BSE Mid-cap index was up 1.89 points, 0.01% at 15,042.36.

On the BSE, 1.39 lakh shares were traded on the counter so far as against the average daily volumes of 1.26 lakh shares in the past one quarter. The stock had hit a high of Rs 321.25 so far during the day, which is also its record high. The stock hit a low of Rs 291 so far during the day.

The stock had hit a 52-week low of Rs 103 on 16 May 2016. The stock had underperformed the market over the past one month till 15 May 2017, advancing 2.47% compared with the Sensexs 2.92% rise. The scrip had, however, outperformed the market over the past one quarter advancing 53.89% as against the Sensexs 7.69% rise.

The mid-cap company has equity capital of Rs 38.03 crore. Face value per share is Rs 2.

Future Lifestyle Fashions earnings before interest, tax, depreciation and amortization (EBITDA) increased by 10.23% to Rs 97 crore in Q4 March 2017 over Q4 March 2016.

EBITDA margin decreased to 9.8% in Q4 March 2017, from 10.3% in Q4 March 2016.

Future Lifestyle Fashions is engaged in the business of fashion. The company offers textiles, wearing apparel, shoes, jewelry, furniture and other fashion goods/accessories.

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Vaibhav Global hits 52-week high
May 16,2017

The result was announced after market hours yesterday, 15 May 2017.

Meanwhile, the S&P BSE Sensex was up 109.80 points or 0.36% at 30,431.92. The BSE Small-Cap index was up 33.91 points or 0.22% at 15,684.28.

On the BSE, 4,047 shares were traded on the counter so far as against the average daily volumes of 2,749 shares in the past one quarter. The stock had hit a high of Rs 512.15 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 501 so far during the day.

The stock had hit a 52-week low of Rs 236 on 23 May 2016. It had outperformed the market over the past one month till 15 May 2017, advancing 14.78% compared with the Sensexs 2.92% rise. The scrip had also outperformed the market over the past one quarter, gaining 17.16% as against the Sensexs 7.69% rise.

The small-cap company has equity capital of Rs 32.55 crore. Face value per share is Rs 10.

Vaibhav Global is an electronic retailer of discount fashion jewelry and lifestyle accessories.

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Indo Count Industries increases capacity
May 16,2017

Indo Count Industries announced that the capacity of the Company has increased from 68 million meters to 90 million meters.

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Bright day for precious metals
May 16,2017

Bullion prices ended higher at Comex on Monday, 15 May 2017. Gold settled at a nearly two-week high on Monday after more show of nuclear strength from North Korea finding traction after weekend comments from China about a boost in infrastructure projects.

Gold for June rose by $2.30, or 0.2%, to settle at $1,230 an ounce. That was the highest finish since 3 May 2017.

July silver rose 20.1 cents or 1.2%, to $16.603 an ounce.

North Korea said Monday it had successfully conducted a newly developed mid- to long-range missile test on Sunday aimed at verifying the capability to carry a n++large scale heavy nuclear warhead,n++.

Gold was also supported as the ICE U.S. Dollar Index which measures the greenbacks value versus euro, yen and four other major currencies, was down 0.3%.

Gold is highly sensitive to rising rates, which increases the opportunity cost of holding assets such as bullion, which dont bear a yield, while boosting the dollar, in which it is priced.

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Shreyans Industries to pay dividend
May 16,2017

Shreyans Industries announced that dividend, if declared, shall be paid on or after 12 September 2017.

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Honda Siel Power Products to pay dividend
May 16,2017

Honda Siel Power Products announced that dividend will be paid to shareholders on 01 September 2017.

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Glenmark Pharmaceuticals to initiate clinical study of GBR 1342
May 16,2017

Glenmark Pharmaceuticals announced that the USFDA cleared the companys Investigational New Drug (IND) application to initiate a Phase 1 study of GBR 1342, a humanized, bispecific monoclonal antibody (bsAb)being studied for the treatment of multiple myeloma in patients who have received prior therapies. GBR 1342 is designed to activate the patients immune system by redirecting immune cells towards tumor tissue, whichmay lead to targeted destruction of tumors. It is based on Glenmarks proprietary BEATn++ (Bispecific Engagement by Antibodies based on the T cell receptor) technology platform.

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Jain Irrigation Systems completes acquisition of US based micro irrigation dealers
May 16,2017

Jain Irrigation Systems through its multi generation wholly owned in the United States of America has completed the acquisition of 80% stake in two of the United States largest micro-irrigation dealers - Agri Valley Irrigation, LLC and Irrigation Design and Construction, LLC.

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Kapil Cotex to hold board meeting
May 16,2017

Kapil Cotex will hold a meeting of the Board of Directors of the Company on 31 May 2017.

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Interworld Digital to hold board meeting
May 16,2017

Interworld Digital will hold a meeting of the Board of Directors of the Company on 29 May 2017.

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AMD Industries to hold board meeting
May 16,2017

AMD Industries will hold a meeting of the Board of Directors of the Company on 29 May 2017.

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Skipper surges after strong Q4 earnings
May 16,2017

The result was announced after market hours yesterday, 15 May 2017.

Meanwhile, the S&P BSE Sensex was up 155.80 points or 0.51% at 30,477.92. The BSE Small-Cap index was up 70.24 points or 0.45% at 15,720.61.

On the BSE, 41,000 shares were traded on the counter so far as against the average daily volumes of 22,228 shares in the past one quarter. The stock had hit a high of Rs 214 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 206 so far during the day.

The stock had hit a 52-week low of Rs 125.25 on 15 November 2016. It had outperformed the market over the past one month till 15 May 2017, advancing 5.87% compared with the Sensexs 2.92% rise. The scrip had also outperformed the market over the past one quarter, gaining 34.16% as against the Sensexs 7.69% rise.

The small-cap company has equity capital of Rs 10.23 crore. Face value per share is Rs 1.

The companys operating earnings before interest, taxation, depreciation and amortization (EBITDA) rose 1.98% to Rs 74.87 crore in Q4 March 2017 over Q4 March 2016. EBITDA margin dropped to 13.3% in Q4 March 2017, from 14% in Q4 March 2016.

Skippers Director Sharan Bansal said that the companys top line growth has been improving on the expected lines. Its international orders clearly affirm its efforts to diversify the geographical spread of its order book. Skipper is confident of maintaining its growth targets on the back of its robust order book and consistent focus on strengthening the bottom line.

Skipper is one of the leading companies in the power transmission & distribution and the polymer products segment.

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Torrent Power to hold board meeting
May 16,2017

Torrent Power will hold a meeting of the Board of Directors of the Company on 23 May 2017, to consider and approve, inter-alia, the Annual Audited Financial Results for the financial year ended 31st March 2017.

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Synergy Cosmetics (Exim) to hold board meeting
May 16,2017

Synergy Cosmetics (Exim) will hold a meeting of the Board of Directors of the Company on 30 May 2017.

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