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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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SBI slips after raising funds from additional tier-1 bonds
Oct 26,2016

The announcement was made after market hours yesterday, 25 October 2016.

Meanwhile, the S&P BSE Sensex was down 223.32 points or 0.79% at 27,867.07

On BSE, so far 1.94 lakh shares were traded in the counter as against average daily volume of 27.90 lakh shares in the past one quarter. The stock hit a high of Rs 261.30 and a low of Rs 257.95 so far during the day. The stock had hit a 52-week high of Rs 271.55 on 8 September 2016. The stock had hit a 52-week low of Rs 148.30 on 12 February 2016. The stock had outperformed the market over the past 30 days till 25 October 2016, rising 3.83% compared with 0.72% decline in the Sensex. The scrip also outperformed the market in past one quarter, gaining 14.28% as against Sensexs 0.24% rise.

The large-cap state-run bank has equity capital of Rs 776.28 crore. Face value per share is Re 1.

State Bank of India (SBI) said that the bank has issued and allotted 25,000 additional tier-1 (AT1) Basel III compliant non-convertible, perpetual, subordinated, unsecured debt instrument in the nature of debenture, of face value Rs 10 lakh each at par through private placement bearing coupon at 8.39% per annum payable annually with call option after 5 years or any coupon payment date thereafter aggregating to Rs 2500 crore in third tranche.

SBIs net profit fell 31.7% to Rs 2520.96 crore on 9.4% rise in net sales to Rs 48928.60 crore in Q1 June 2016 over Q1 June 2015.

SBI is Indias biggest bank in terms of branch network. The Government of India currently holds 60.18% stake in SBI (as per the shareholding pattern as on 30 September 2016).

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Bharti Infratel slips as Bharti Airtel mulls stake sale
Oct 26,2016

Meanwhile, the BSE Sensex was down 227.73 points, or 0.81%, to 27,863.69.

On BSE, so far 21,000 shares were traded in the counter, compared with average daily volume of 2 lakh shares in the past one quarter. The stock hit a high of Rs 382 and a low of Rs 370.20 so far during the day. The stock hit a 52-week high of Rs 436.40 on 30 December 2015. The stock hit a 52-week low of Rs 302.10 on 24 June 2016. The stock had outperformed the market over the past 30 days till 25 October 2016, rising 3.65% compared with 0.72% decline in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 0.16% as against Sensexs 0.24% rise.

The large-cap company has equity capital of Rs 1,896.67 crore. Face value per share is Rs 10.

Bharti Airtel announced after market hours yesterday, 25 October 2016, that its board of directors authorised a committee of directors to evaluate options for monetization of a significant stake in Bharti Infratel, in accordance with applicable regulations. The final outcome of this exercise will be placed before the board for approval, before any final decision is taken. Bharti Airtel has also requested Bharti Infratel to allow sharing of any information with any prospective buyer, subject to customary confidentiality arrangements. There is no certainty of any transaction until such time the board reviews and approves the final proposal.

Bharti Infratel, Indias leading telecom tower infrastructure provider, is a significant subsidiary of Bharti Airtel. Bharti Airtel has, in the past, divested stakes in Bharti Infratel to a clutch of private equity investors led by Temasek, KKR and other high quality investors in 2008. This was followed by an initial public offering (IPO) in the year 2012 and block sales in the stock market in 2014 and 2015. Bharti Airtel holds 71.96% stake in Bharti Infratel (as on 30 September 2016).

On a consolidated basis, net profit of Bharti Infratel rose 30.80% to Rs 773.80 crore on 9.01% rise in net sales to Rs 1496.30 crore in Q2 September 2016 over Q2 September 2015.

Bharti Infratel is Indias leading provider of tower and related infrastructure and it deploys, owns and manages telecom towers and communication structures, for various mobile operators.

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P I Industries scales record high after strong Q2 outcome
Oct 26,2016

The result was announced after market hours yesterday, 25 October 2016.

Meanwhile, the S&P BSE Sensex was down 234.86 points or 0.84% at 27,856.56

On BSE, so far 23,000 shares were traded in the counter as against average daily volume of 8,250 shares in the past one quarter. The stock hit a high of Rs 892.55 so far during the day, which is also record high for the stock. The stock hit a low of Rs 856.15 so far during the day. The stock had hit a 52-week low of Rs 495.35 on 26 February 2016. The stock had underperformed the market over the past 30 days till 25 October 2016, faling 1.61% compared with 0.72% decline in the Sensex. The scrip, however, outperformed the market in past one quarter, rising 10.18% as against Sensexs 0.24% rise.

The large-cap company has equity capital of Rs 13.71 crore. Face value per share is Re 1.

P I Industries consolidated earnings before interest, taxation, depreciation and amortization (EBITDA) rose 53% to Rs 128 crore in Q2 September 2016 over Q2 September 2015 benefiting from a favorable product mix and better operating leverage.

P I Industries focuses on agri-input and custom synthesis.

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Suzlon Energy enters into agreement with Ostro Energy
Oct 26,2016

Suzlon Energy has signed Share Subscription and Shareholders Agreement with Ostro Energy (n++Ostron++) for setting-up of solar power project under Prathamesh Solarfarms (n++Prathameshn++), presently a wholly owned subsidiary of the Company, and eventually sale of Prathamesh.

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Government of India and World Bank Sign $650 Million Agreement for the Eastern Dedicated Freight Corridor Project
Oct 26,2016

The Government of India and the World Bank signed a $650 million agreement towards the third loan for the Eastern Dedicated Freight Corridor (a freight-only rail line) that will help faster and more efficient movement of raw materials and finished goods between the north and eastern parts of India. The project was approved by the World Bank Board on June 30, 2015.

The loan and guarantee agreement for the Eastern Dedicated Freight Corridor Project was signed by Raj Kumar, Joint Secretary, Department of Economic Affairs, Ministry of Finance, on behalf of the Government of India; M.K. Mittal, Director, Finance, Dedicated Freight Corridor Corporation(DFCCIL) and Hisham Abdo, Operations Manager and Acting Country Director, World Bank India, on behalf of the World Bank.

The Eastern Corridor is 1,840 km long and extends from Ludhiana to Kolkata. The World Bank is supporting the Eastern Dedicated Freight Corridor (EDFC) as a series of projects in which the three sections with a total route length of 1,193 km will be delivered sequentially, but with considerable overlap in their construction schedules. EDFC 3, approved by the Board on June 30, 2016, will build the 401 km Ludhiana-Khurja section which goes through Punjab, Haryana and Uttar Pradesh. The project will help increase the capacity of these freight-only lines by raising the axle-load limit from 22.9 to 25 ton axle-load (upgradable to 32.5 ton axle loads) and enable speeds of up to 100 km/hr. The DFC lines are being built to carry bulk freight trains of 6,000 to 12,000 gross tons. The project is also developing the institutional capacity of the DFCCIL to build and maintain the DFC infrastructure network.

n++The objective of the EDFC project is to augment railway freight carrying capacity along the Railway Corridor between Ludhiana and Kolkata. The project will benefit industries of Northern and Eastern India, which rely on railway network for transportation of material inputs and exports that would accelerate creation of jobs in the northern and eastern regions of the country,n++ said Raj Kumar, Joint Secretary, Department of Economic Affairs, Ministry of Finance.

The first loan of $975 million for the 343 km Khurja-Kanpur section in the EDFC program was approved by the World Bank Board in May 2011 and is already under implementation. The project has already awarded contracts worth Rs 5500 crore. The second loan of $1.1 billion for the 402 km Kanpur-Mughalsarai section was approved by the World Bank Board in April 2014 and is in the implementation phase. The major contracts for civil works and systems has been awarded with a total value of Rs, 6300 crore.

n++Implementing the Dedicated Freight Corridor program will provide India the opportunity to create one of the worlds largest freight operations. The corridor, which will pass through states like Uttar Pradesh, will benefit from the new rail infrastructure, bringing jobs and much-needed development to some of Indias poorest regions,n++ said Hisham Abdo, Operations Manager and Acting Country Director, World Bank India. n++Moving freight from road to rail will reduce the carbon footprint of freight,n++ he added.

The EDFC is part of Indias first Dedicated Freight Corridor (DFC) initiative - being built on two main routes - the Western and the Eastern Corridors. These corridors will help India make a quantum leap in increasing the railways transportation capacity by building high-capacity, higher-speed dedicated freight corridors along the Golden Quadrilateral. Currently, the rail routes that form a Golden Quadrilateral connecting Delhi, Mumbai, Chennai and Kolkata, account for 16 percent of the railway networks route length, but carry more than 60 percent of Indias total rail freight.

Augmenting its transport systems is a crucial element of Indias trillion-dollar infrastructure agenda. Since the 1990s, road transport has advanced more rapidly than the railways, and now accounts for about 65 percent of the freight market and 90 percent of the passenger market in India, and those shares are growing.

n++The Indian Railways urgently needs to add freight routes to meet the growing freight traffic in India, which is projected to increase more than 7 percent annually. These freight lines will wholly transform the capacity, productivity, and service performance of Indias busiest rail freight corridors. At completion, it will be able to more than double its capacity to carry freight, with faster transit times, being more reliable and at lower cost,n++ said Ben L. J. Eijbergen, Program Leader, Economic Integration and the Task Team Leader for the Project.

Significant Green Impact: In addition to the efficiency improvement and other operational benefits, the project is expected to bring in significant reductions in Green House Gas (GHG) emissions.

A Green House Gas Emission Analysis was conducted by DFCCIL for the Eastern DFC Project. The analysis shows that the Eastern corridor is expected to generate about 10.48 million tons of GHG emissions up to 2041-42, as against 23.29 million of GHG emissions in the absence of EDFC - a 55 percent reduction in GHG emissions.

Economic opportunities are also being explored along the freight corridor. The government is planning to set up integrated manufacturing clusters using EDFC as the backbone. These clusters will be set up with an investment of about $1 billion on either side of EDFC.

The loan, from the International Bank for Reconstruction and Development (IBRD), has a 7-year grace period, and a maturity of 22 years.

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Southern Gas to hold board meeting
Oct 26,2016

Southern Gas will hold a meeting of the Board of Directors of the Company on 4 November 2016.

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Seven Hill Industries to hold board meeting
Oct 26,2016

Seven Hill Industries will hold a meeting of the Board of Directors of the Company on 25 October 2016.

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MIC Electronics to hold board meeting
Oct 26,2016

MIC Electronics will hold a meeting of the Board of Directors of the Company on 1 November 2016 Quarterly Results

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Nicco Parks & Resorts to hold board meeting
Oct 26,2016

Nicco Parks & Resorts will hold a meeting of the Board of Directors of the Company on 7 November 2016 to consider, approve and take on record the Audited Standalone Financial Results of the Company for the Half-Year & Second quarter ended on September 30, 2016.

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8K Miles Software Services to hold board meeting
Oct 26,2016

8K Miles Software Services will hold a meeting of the Board of Directors of the Company on 7 November 2016 to consider, approve and take on record the unaudited Financial Results of the Company for the quarter ended September 30, 2016.

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Emmbi Industries to hold board meeting
Oct 26,2016

Emmbi Industries will hold a meeting of the Board of Directors of the Company on 12 November 2016 to consider and approve the Unaudited Financial Results for the quarter and half year ended on September 30, 2016.

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Prithvi Softech to hold board meeting
Oct 26,2016

Prithvi Softech will hold a meeting of the Board of Directors of the Company on 12 November 2016.

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Hanung Toys & Textiles to hold board meeting
Oct 26,2016

Hanung Toys & Textiles will hold a meeting of the Board of Directors of the Company on 25 October 2016.

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Parth Aluminium to hold board meeting
Oct 26,2016

Parth Aluminium will hold a meeting of the Board of Directors of the Company on 9 November 2016 To consider and approve the unaudited financial results of the Company for the quarter ended on September 30, 2016.

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RR Securities to hold board meeting
Oct 26,2016

RR Securities will hold a meeting of the Board of Directors of the Company on 14 November 2016 Un-Audited Financial Results of the Company for the Quarter ended on September 30, 2016.

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