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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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Engineers India to hold board meeting
Mar 15,2017

Engineers India will hold a meeting of the Board of Directors of the Company on 20 March 2017.

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Infosys to hold board meeting
Mar 15,2017

Infosys will hold a meeting of the Board of Directors of the Company on 13 April 2017.

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Prakash Industries allots 1218951 equity shares
Mar 15,2017

Prakash Industries announced that the Committee of the Board of Directors of the Company in its meeting held on 15 March 2017 has allotted 1218951 equity shares on conversion of FCCBs.

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Prakash Industries allots 1218951 equity shares
Mar 15,2017

Prakash Industries announced that the Committee of the Board of Directors of the Company in its meeting held on 15 March 2017 has allotted 1218951 equity shares on conversion of FCCBs.

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BHEL commences commercial operations of first 800 MW coal based STPP
Mar 15,2017

Bharat Heavy Electricals has commenced commercial operations of its first 800 MW - highest rating coal based supercritical thermal power plant. The milestone was achieved for the first unit of the 2x800 MW Yeramarus thermal power station of Raichur Power Corporation, in Raichur district of Karnataka.

Significantly, the commercial operation of this unit also marks BHELs foray as a developer into the field of power generation. Karnataka Power Corporation and BHEL are the main equity partners of RPCL, the owner and operator of this power plant.

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BHEL commences commercial operations of first 800 MW coal based STPP
Mar 15,2017

Bharat Heavy Electricals has commenced commercial operations of its first 800 MW - highest rating coal based supercritical thermal power plant. The milestone was achieved for the first unit of the 2x800 MW Yeramarus thermal power station of Raichur Power Corporation, in Raichur district of Karnataka.

Significantly, the commercial operation of this unit also marks BHELs foray as a developer into the field of power generation. Karnataka Power Corporation and BHEL are the main equity partners of RPCL, the owner and operator of this power plant.

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Gujarat Containers appoints director
Mar 15,2017

Gujarat Containers announced the appointment of Sanjay Shah as an Additional Independent Director of the Company with effect from 06 March 2017 for a term of Consecutive 5 years, subject to approval of shareholders in General Meeting of the Company.

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JSW Steel gains after good steel production in February
Mar 15,2017

The announcement was made during trading hours today, 15 March 2017.

Meanwhile, the S&P BSE Sensex was down 20.67 points, or 0.07% to 29,421.96.

On the BSE, 1.54 lakh shares were traded in the counter so far, compared with average daily volumes of 4.05 lakh shares in the past one quarter. The stock had hit a high of Rs 184.60 and a low of Rs 180.30 so far during the day.

The stock hit a record high of Rs 201.40 on 31 January 2017. The stock hit a 52-week low of Rs 117.25 on 15 March 2016.

The stock had underperformed the market over the past one month till 14 March 2017, falling 3.43% compared with 3.85% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 11.20% as against Sensexs 10.67% rise.

The large-cap company has equity capital of Rs 241.72 crore. Face value per share is Re 1.

JSW Steel said its total production of flat-rolled steel products rose 23% to 8.96 lakh tonnes in February 2017 over February 2016. Total production of long-rolled steel products rose 8% to 2.50 lakh tonnes in February 2017 over February 2016.

On a consolidated basis, JSW Steel reported net profit of Rs 730.05 crore in Q3 December 2016 as against net loss of Rs 709.09 crore in Q3 December 2015. Net sales rose 61% to Rs 13797.50 crore in Q3 December 2016 over Q3 December 2015.

JSW Steel is the leading integrated steel company in India with an installed steel-making capacity of 18 million tonnes per annum (MTPA).

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Dilip Buildcon announces incorporation of subsidiary
Mar 15,2017

Dilip Buildcon has incorporates a wholly owned subsidiary - JALPA DEVI ENGINEERING. This company will be manufacturing manganese castings for stone crushing equipment and fabrication of girders, road furniture.

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Oracle Financial Services Software allots 25,107 equity shares
Mar 15,2017

Oracle Financial Services Software announced that ESOP Allotment Committee of the Company at its meeting held on 15 March 2017 allotted 25,107 equity shares of face value of Rs.5/- each to the eligible Employees of the Company who have exercised their stock options under the Employee Stock Option Scheme 2010, Employee Stock Option Scheme 2011 and OFSS Stock Plan 2014. These shares rank pari passu with the existing equity shares of the Company in all respects. In this allotment, no shares are allotted to Directors of the Company.

With this allotment, the paid up capital of the Company has increased to Rs. 425,532,030.00 divided into 85,106,406 equity shares of face value of Rs.5/- each.

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ICICI Bank allots 85,200 equity shares
Mar 15,2017

ICICI Bank has allotted 85,200 equity shares under ESOS on 14 March 2017.

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JSW Steel announces production figures
Mar 15,2017

JSW Steel has reported crude steel production at 12.56 lakh tonnes for February 2017, recording a growth of 25% over 10.13 lakh tonnes production achieved in February 2016.

Production of flat rolled products rose 23% and long rolled products rose 8% at 8.96 lakh tonnes and 2.50 lakh tonnes respectively in February 2017 over February 2016.

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Bajaj Corp commences commercial production at new plant in Assam
Mar 15,2017

Bajaj Corp has commenced commercial production with effect from 15 March 2017 at its newly set-up plant at Plot No. 63-64, Brahmaputra Industrial Area, Village Silla, Mouza Sila Sinduri Ghopa, Assam - 781 031.

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Rubfila International provides operations update
Mar 15,2017

Rubfila International announced successful commissioning of the expanded capacity of fifth line for manufacturing Heat Resistant Latex Rubber Thread.

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RCom gains as proposed wireless biz merger gets Sebi nod
Mar 15,2017

The announcement was made during trading hours today, 15 March 2017.

Meanwhile, the S&P BSE Sensex was up 11.24 points, or 0.04% to 29,453.87.

On the BSE, 24.45 lakh shares were traded in the counter so far, compared with average daily volumes of 27.34 lakh shares in the past one quarter. The stock had hit a high of Rs 38.15 and a low of Rs 36.25 so far during the day.

The stock hit a 52-week high of Rs 60.45 on 28 April 2016. The stock hit a record low of Rs 30.65 on 25 January 2017.

The stock had outperformed the market over the past one month till 14 March 2017, rising 7.89% compared with 3.85% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 1.12% as against Sensexs 10.67% rise.

The mid-cap company has equity capital of Rs 1244.49 crore. Face value per share is Rs 5.

Reliance Communications (RCom) said it received approval of the Securities and Exchange Board of India (Sebi), BSE and National Stock Exchange of India (NSE) for the proposed scheme of arrangement for demerger of the wireless division of the company into Aircel and Dishnet Wireless.

As per the scheme, RCom has filed an application with National Company Law Tribunal (NCLT), Mumbai Bench, for approval of the proposed scheme. The proposed transaction is subject to other necessary approvals. Post closing, the company and the present shareholders of Aircel will hold 50% each in Aircel.

On a consolidated basis, RCom reported net loss of Rs 531 crore in Q3 December 2016 as against net profit of Rs 303 crore in Q3 December 2015. Net sales declined 10.33% to Rs 4820 crore in Q3 December 2016 over Q3 December 2015.

Reliance Communications (RCom) is an integrated telecommunications service provider. The company has a customer base of nearly 95 million including over 2.6 million individual overseas retail customers.

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