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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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India would need to bring 88 km2 land under waste disposal by 2050: Study
Jul 03,2017

Considering the present scenario of waste management in India, where most of the waste is dumped without treatment, it would require an estimated 88 square kilometer (km2) of precious land to be brought under waste disposal through landfilling by 2050, which is equivalent to the size of area under administration of New Delhi Municipal Council (NDMC), noted a recent joint study by ASSOCHAM and PwC.

n++This will eventually render the land unfit for any other use for as long as a half century before it can be stabilised for other uses,n++ said the report jointly conducted by ASSOCHAM and global consulting firm PwC (PricewaterhouseCoopers).

As such it is imperative to relook into present systems of waste management in the country, suggested the ASSOCHAM-PwC study.

As per a previous estimate, by 2050 about 50 per cent of Indias population will be living in urban areas, and the volume of waste generation will grow by five per cent per year.

Accordingly, the expected waste quantity we are looking at for the year 2021, 2031, and 2050 are 101 million metric tonnes (MMT) per year, 164 MMT, and 436 MMT per year respectively.

The report noted that waste generation of Class I cities (with population between 0.1 million to five million) in India has been estimated to be around 80 per cent of countrys total waste generation.

Highlighting the concerns about per capita waste generation rate, the study said that presently it is about 300-400 gm/capita for medium cities and 400-600 gm/capita for large cities. n++This is going to increase with the present trend of urbanisation and consumption patterns.n++

On the need for proper waste treatment to generate environmental and monetary benefits, the study said that poorly managed waste has direct implications to urban environment, leading to air, water, and soil pollution, together with long-term health impacts, while it has indirect implications to our economy and growth prospects.

However, improper planning for waste management, complex institutional setup, constraints in capacity for waste management using modern techniques and best practices, and limited funds with urban local bodies (ULBs) are some of the reasons waste management in India has become an area of concern.

It also said that though private sector can play a critical and greater role in waste management in India, there are a various issues and bottlenecks on different fronts that have made it challenging to successfully implement projects - policy and regulatory, financing, project conceptualisation and structuring, technology and capacity.

The ASSOCHAM-PwC study has recommended the government to accord industry status to waste management sector to provide it necessary boost and regulatory adherence with dedicated monitoring and compliance cell.n++

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India would need to bring 88 sq. km land under waste disposal by 2050: Study
Jul 03,2017

Considering the present scenario of waste management in India, where most of the waste is dumped without treatment, it would require an estimated 88 square kilometer (sq. km) of precious land to be brought under waste disposal through landfilling by 2050, which is equivalent to the size of area under administration of New Delhi Municipal Council (NDMC), noted a recent joint study by ASSOCHAM and PwC.

n++This will eventually render the land unfit for any other use for as long as a half century before it can be stabilised for other uses,n++ said the report jointly conducted by ASSOCHAM and global consulting firm PwC (PricewaterhouseCoopers).

As such it is imperative to relook into present systems of waste management in the country, suggested the ASSOCHAM-PwC study.

As per a previous estimate, by 2050 about 50 per cent of Indias population will be living in urban areas, and the volume of waste generation will grow by five per cent per year.

Accordingly, the expected waste quantity we are looking at for the year 2021, 2031, and 2050 are 101 million metric tonnes (MMT) per year, 164 MMT, and 436 MMT per year respectively.

The report noted that waste generation of Class I cities (with population between 0.1 million to five million) in India has been estimated to be around 80 per cent of countrys total waste generation.

Highlighting the concerns about per capita waste generation rate, the study said that presently it is about 300-400 gm/capita for medium cities and 400-600 gm/capita for large cities. n++This is going to increase with the present trend of urbanisation and consumption patterns.n++

On the need for proper waste treatment to generate environmental and monetary benefits, the study said that poorly managed waste has direct implications to urban environment, leading to air, water, and soil pollution, together with long-term health impacts, while it has indirect implications to our economy and growth prospects.

However, improper planning for waste management, complex institutional setup, constraints in capacity for waste management using modern techniques and best practices, and limited funds with urban local bodies (ULBs) are some of the reasons waste management in India has become an area of concern.

It also said that though private sector can play a critical and greater role in waste management in India, there are a various issues and bottlenecks on different fronts that have made it challenging to successfully implement projects - policy and regulatory, financing, project conceptualisation and structuring, technology and capacity.

The ASSOCHAM-PwC study has recommended the government to accord industry status to waste management sector to provide it necessary boost and regulatory adherence with dedicated monitoring and compliance cell.n++

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Automotive Stampings & Assemblies to hold AGM
Jul 03,2017

Automotive Stampings & Assemblies announced that the 27th Annual General Meeting(AGM) of the company on 28 July 2017.

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Relicab Cable Manufacturing to hold EGM
Jul 03,2017

Relicab Cable Manufacturing announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 26 July 2017 .

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KEC International to hold AGM
Jul 03,2017

KEC International announced that the 12th Annual General Meeting(AGM) of the company on 26 July 2017.

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Multibase India to hold AGM
Jul 03,2017

Multibase India announced that the 26th Annual General Meeting(AGM) of the company on 25 July 2017.

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RattanIndia Power leads gainers in A group
Jul 03,2017

RattanIndia Power jumped 8.96% to Rs 7.30 at 13:40 IST. The stock topped the gainers in the BSEs A group. On the BSE, 10.48 lakh shares were traded on the counter so far as against the average daily volumes of 3.36 lakh shares in the past two weeks.

Lakshmi Machine Works surged 6.36% to Rs 5,344.90. The stock was the second biggest gainer in A group. On the BSE, 5,425 shares were traded on the counter so far as against the average daily volumes of 991 shares in the past two weeks.

Ashok Leyland advanced 6.13% at Rs 99.60. The companys total sales rose 11% to 12,330 units in June 2017 over June 2016. The announcement was made during trading hours today, 3 July 2017. The stock was the fourth biggest gainer in A group. On the BSE, 33.72 lakh shares were traded on the counter so far as against the average daily volumes of 6.39 lakh shares in the past two weeks.

ITC rose 5.93% to Rs 343.05. The stock was the fifth biggest gainer in A group. On the BSE, 19.45 lakh shares were traded on the counter so far as against the average daily volumes of 14.07 lakh shares in the past two weeks.

IFCI gained 5.77% at Rs 25.65. The stock was the third biggest gainer in A group. On the BSE, 16 lakh shares were traded on the counter so far as against the average daily volumes of 8.12 lakh shares in the past two weeks.

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Board of JMC Projects (India) approves issue of NCDs aggregating Rs 150 crore
Jul 03,2017

JMC Projects (India) announced that the Board of Directors at its meeting held on 03 July 2017 has considered and approved raising of funds by way of issue of Secured / Unsecured Listed Non-Convertible Debentures (NCDs) for an aggregate amount up to Rs. 150 crore (Rupees One Hundred Fifty Crore only) in one or more series / tranches, on private placement basis, subject to the approval of the members at the ensuing Annual General Meeting.

The Board of Directors also approved the Notice convening 31st Annual General Meeting of the members of the Company scheduled to be held on 10 August 2017.

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Bajaj Auto slips after weak monthly sales
Jul 03,2017

The announcement was made before market hours today, 3 July 2017.

Meanwhile, the S&P BSE Sensex was up 319.44 points or 1.03% at 31,241.05

On the BSE, 13,000 shares were traded on the counter so far as against the average daily volumes of 23,330 shares in the past one quarter. The stock had hit a high of Rs 2,778.45 and a low of Rs 2,752 so far during the day. The stock had hit a record high of Rs 3,122 on 9 September 2016 and a 52-week low of Rs 2,510 on 15 November 2016.

The stock had underperformed the market over the past one month till 30 June 2017, falling 1.77% compared with the Sensexs 0.76% fall. The scrip had also underperformed the market over the past one quarter, declining 0.61% as against the Sensexs 4.3% rise. The scrip had also underperformed the market over the past one year, rising 4.56% as against the Sensexs 14.53% rise.

The large-cap company has equity capital of Rs 289.37 crore. Face value per share is Rs 10.

Bajaj Autos domestic sales dropped 34% to 1.26 lakh units in June 2017 over June 2016. Exports fell 4% to 1.17 lakh units in June 2017 over June 2016.

In a separate announcement during market hours today, 3 July 2017, Bajaj Auto announced that the company and KTM are celebrating the tenth anniversary of their partnership this year. To celebrate the occasion, the joint venture has announced that they will take the Husqvarna Motorcycles brand global with its production to commence in 2018.

Stefan Pierer, CEO of KTM AG and Rajiv Bajaj, Managing Director of Bajaj Auto, decided on the strategy to take Husqvarna Motorcycles brand global and scale up the business multiple times.

There will be an increase in production of KTM and Husqvarna branded motorcycles produced in India from expected 1 lakh units in 2017 to over 2 lakh units in the next years.

Husqvarna Motorcycles, founded in 1903, is the worlds second oldest motorcycle brand, for which KTM has secured a long-term license agreement in the year 2013. KTM is Europes biggest motorcycle producer based in Austria.

Bajaj Auto consolidated net profit fell 13.44% to Rs 862.25 crore on 7.26% decline in total income to Rs 5252.38 crore in Q4 March 2017 over Q4 March 2016.

Bajaj Auto manufactures motorcycles, three-wheelers and quadricycles. The company is the worlds third largest motorcycle manufacturer and is the largest three wheeler and quadricycle manufacturer.

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Datamatics Global Services set to acquire controlling stake in TechJini
Jul 03,2017

Datamatics Global Services has signed a definitive agreement to acquire acontrolling stake in TechJini, a boutique mobile and web application development company, headquartered in Bangalore. The objective of this acquisition is to further strengthen Datamatics mobility offerings through TechJinis range of smart technology solutions.

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Ashoka Refineries to hold AGM
Jul 03,2017

Ashoka Refineries announced that the 26th Annual General Meeting(AGM) of the company on 31 July 2017.

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Natura Hue Chem to hold AGM
Jul 03,2017

Natura Hue Chem announced that the 22th Annual General Meeting(AGM) of the company on 31 July 2017.

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Shree Karthik Papers to hold AGM
Jul 03,2017

Shree Karthik Papers announced that the th Annual General Meeting(AGM) of the company on 20 September 2017.

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GHCL to hold board meeting
Jul 03,2017

GHCL will hold a meeting of the Board of Directors of the Company on 29 July 2017 to consider, inter alia the reviewed un-audited financial results of the Company for the quarter ended June 30, 2017.

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Karnataka Bank to hold board meeting
Jul 03,2017

Karnataka Bank will hold a meeting of the Board of Directors of the Company on 15 July 2017 to consider, inter alia, the unaudited financial results for the quarter ended June 30, 2017.

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