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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 Maithan Alloys recommends final dividend
May 12,2017

Maithan Alloys announced that the Board of Directors of the Company at its meeting held on 9 May 2017, inter alia, have recommended the final dividend of Rs 25 per equity Share (i.e. 2.5%) , subject to the approval of the shareholders.

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Pennar Engineered Building Systems drops after weak Q4 earnings
May 12,2017

The result was announced after market hours yesterday, 11 May 2017.

Meanwhile, the S&P BSE Sensex was down 62.55 points, or 0.21% at 30,188.43. The S&P BSE Small-cap index was down 68.75 points, 0.44% at 15,584.65.

On the BSE, 6,521 shares were traded on the counter so far as against the average daily volumes of 5,311 shares in the past one quarter. The stock had hit a high of Rs 145 and a low of Rs 132.85 so far during the day.

The stock had hit a record high of Rs 204 on 6 September 2016 and a record low of Rs 105 on 14 March 2017. The stock had outperformed the market over the past one month till 11 May 2017, advancing 8.68% compared with the Sensexs 1.55% rise. The scrip had also outperformed the market over the past one quarter advancing 11.27% as against the Sensexs 6.76% rise.

The small-cap company has equity capital of Rs 34.27 crore. Face value per share is Rs 10.

Pennar Engineered Building Systems is one of the leading custom designed building systems solutions providers in India. Its products and services include pre-engineered buildings, design and engineering services, solar module mounting structures, cold form buildings and structural steel products.

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Neuland Laboratories to hold EGM
May 12,2017

Neuland Laboratories announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 10 June 2017 .

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Mahindra & Mahindra to hold EGM
May 12,2017

Mahindra & Mahindra announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 13 June 2017 .

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Board of La Opala RG recommends final dividend
May 12,2017

La Opala RG announced that the Board of Directors of the Company at its meeting held on 9 May 2017, inter alia, have recommended the final dividend of Rs 2 per equity Share (i.e. 100%) , subject to the approval of the shareholders.

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Force Motors decelerates after weak Q4 result
May 12,2017

The result was announced after market hours yesterday, 11 May 2017.

Meanwhile, the S&P BSE Sensex was down 35.78 points or 0.12% at 30,215.20. The S&P BSE Mid-Cap index was down 59.90 points, or 0.4%, to 14,897.23.

On the BSE, 43,000 shares were traded on the counter so far as against the average daily volumes of 62,883 shares in the past one quarter. The stock had hit a high of Rs 4,600 and a low of Rs 4,475.25 so far during the day.

The stock had hit a record high of Rs 4,839 on 27 October 2016 and a 52-week low of Rs 2,801 on 24 June 2016.

The stock had underperformed the market over the past one month till 11 May 2017, falling 0.11% compared with 2.05% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 9.63% as against Sensexs 6.76% rise.

The mid-cap company has equity capital of Rs 13.18 crore. Face value per share is Rs 10.

Force Motors is a fully, vertically integrated automobile company, with expertise in design, development and manufacture of the full spectrum of automotive components, aggregates and vehicles.

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Rama Steel Tubes allots 6 lakh equity shares
May 12,2017

Rama Steel Tubes announced that the Board of Directors of the Company at its meeting held on 12 May 2017 has allotted 6 lakh equity shares of Rs 5 each pursuant to conversion of 6 lakh convertible warrants.

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Endurance Technologies to pay interim dividend
May 12,2017

Endurance Technologies announced that the dividend, if declared by the shareholders at the 18th Annual General Meeting , shall be paid on or after 01 August 2017.

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Mold-Tek Technologies allots 20,000 equity shares
May 12,2017

Mold-Tek Technologies has allotted 20,000 equity shares of Rs 2 each under Employees Stock Option Scheme 2015.

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Indosolar intimates of assignment of facilities to Asset Reconstruction Company
May 12,2017

Indosolar announced that various facilities availed by Indosolar from Indian Bank, New Delhi Main Branch, has been assigned and transferred to Asset Reconstruction Company (India).

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Board of Visa Steel accepts resignation of director
May 12,2017

The Board of Directors of Visa Steel has accepted the resignation of Puja Sondhi as Independent Director of the Company with effect from 09 May 2017.

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Board of Plastiblends India approves bonus issue
May 12,2017

Plastiblends India announced that the Board of Directors of the Company at its meeting held on 11 May 2017, inter alia, has

1. Recommended dividend of Rs. 2.50 per share.

2. Issue of Bonus shares in the proportion of 1:1 i.e. One equity share of Rs. 5/- each for every One fully paid up equity share held as on the record date, subject to approval of members of the Company. The record date for reckoning eligible shareholders entitled to receive bonus shares will be fixed in due course.

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Income Tax (IT) Department simplifies linking PAN with Aadhaar for taxpayers using Income Tax India website
May 12,2017

No need to login or be registered on the E-filing website for linking The Income Tax (IT) Department has made it easy for taxpayers to link their PAN with Aadhaar. Responding to grievances of taxpayers regarding difficulties in linking PAN with Aadhaar as their names did not match in both systems (e.g., names with initials in one and expanded initials in another), the IT Department has come out with a simple solution now.

In case of any minor mismatch in Aadhaar name provided by taxpayer when compared to the actual data in Aadhaar, a One Time Password (Aadhaar OTP) will be sent to the mobile registered with Aadhaar. Taxpayers should ensure that the date of birth and gender in PAN and Aadhaar are exactly same. In a rare case where Aadhaar name is completely different from name in PAN, then the linking will fail and taxpayer will be prompted to change the name in either Aadhaar or in PAN database.

There is no need to login or be registered on E-filing website. This facility can be used by anyone to link their Aadhaar with PAN.

This facility is also available after login on the e-filing website under Profile settings and choose Aadhaar linking. The details as per PAN will be pre-populated. Enter Aadhaar number and ENTER NAME EXACTLY AS GIVEN IN AADHAAR CARD (avoid spelling mistakes) and Submit.

Taxpayers are requested to use the simplified process to complete the linking of Aadhaar with PAN immediately. This will be useful for E-Verification of Income Tax returns using OTP sent to their mobile registered with Aadhaar.

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Endurance Technologies announces voluntary separation scheme
May 12,2017

Endurance Technologies announced another voluntary separation scheme for all its eligible permanent workmen employed on the rolls of its four plants located in Chakan, Dist. Pune.

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TVS Motor gains after tie-up with Guatemalan firm
May 12,2017

The announcement was made after market hours yesterday, 11 May 2017.

Meanwhile, the S&P BSE Sensex was down 31.10 points, or 0.10% to 30,219.88.

On the BSE, 20,000 shares were traded in the counter so far, compared with average daily volumes of 99,738 shares in the past one quarter. The stock had hit a high of Rs 505.50 and a low of Rs 498.75 so far during the day. The stock hit a record high of Rs 518.95 on 27 April 2017. The stock hit a 52-week low of Rs 280.30 on 24 June 2016.

The stock had outperformed the market over the past one month till 11 May 2017, rising 5.22% compared with 2.05% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 21.44% as against Sensexs 6.76% rise.

The large-cap company has equity capital of Rs 47.51 crore. Face value per share is Re 1.

TVS Motor Company announced its alliance with MASESA (Mayor Servicios Socieda Anonima), a Guatemala-based company that is a leader in the commercialization of motorcycles and Tuk Tuks in the Central American region.

This alliance is in line with the companys plan to expand and strengthen its presence in Central Amn++rica, LATAM, South East Asia and Middle East. In this alliance, MASESA will develop exclusive TVS Motor Company concessionaires in Guatemala, El Salvador, Honduras, Nicaragua and Costa Rica.

MASESA currently operates through a network of 500 touch points throughout the region, which are managed by an extraordinary team, who will manage a wide catalog of parts and service centers duly equipped, guaranteeing the adequate support of the brand and making this alliance one of the most important ones of the industry in recent years in the region.

In the first phase of this association, 5 emblematic exhibition and sales rooms will be installed in the region, which will also offer the entire range of spare parts and technical service, in turn the products of TVS Motor Company will be available in the 500 dealers Masesa has throughout Central America.

Net profit of TVS Motor Company declined 6.8% to Rs 126.77 crore on 1.7% rise in net sales to Rs 2844.50 crore in Q4 March 2017 over Q4 March 2016.

TVS Motor Company is a leading two and three-wheeler manufacturer, and is the flagship company of the TVS Group.

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