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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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Triveni Turbine appoints director
Aug 14,2017

Triveni Turbine has appointed Dr. Santosh Pande s an Independent Director of the Company (not liable to retire by rotation) for a period of five years, with effect from 19th July 2017.

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Advent Computer Services shifts registered address
Aug 14,2017

Advent Computer Services announced that the registered address of the Company with effect from 16th August 2017 stands changed to K22, 7th Floor, Swathi Towers, Durgabai, Deshmukh Road, R A Puram, Chennai - 600028.

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Tata Power Company gets energized after posting strong Q1 results
Aug 14,2017

The result was announced during market hours today, 14 August 2017.

Meanwhile, the S&P BSE Sensex was up 298.08 points, or 0.93% to 31,504.84.

More than usual volumes were witnessed on the counter. On the BSE, 4.74 lakh shares were traded in the counter so far, compared with average daily volumes of 2.66 lakh shares in the past one quarter. The stock had hit a high of Rs 81.15 and a low of Rs 76.50 so far during the day. The stock had hit a 52-week high of Rs 91.25 on 3 April 2017. The stock had hit a 52-week low of Rs 67.10 on 9 November 2016.

The stock had fallen 7.2% in six sessions to settle at Rs 76.65 on 11 August 2017, from a close of Rs 82.60 on 3 August 2017.

The stock had underperformed the market over the past one month till 11 August 2017, falling 7.65% compared with the Sensexs 1.68% decline. The stock had also underperformed the market over the past one quarter, declining 7.03% as against the Sensexs 3.18% rise. The scrip had also underperformed the market over the past one year, gaining 2.96% as against the Sensexs 12.04% rise.

The large-cap company has equity capital of Rs 270.48 crore. Face value per share is Re 1.

Tata Power is Indias largest integrated power company with a significant international presence. The company has a presence in all the segments of the power sector viz generation (thermal, hydro, solar and wind), transmission, distribution and trading.

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Panama Petrochem approves bonus issue
Aug 14,2017

The Board of Directors at their meeting held on 14th August 2017 approved the issue of bonus share in the ratio of 1:2 i.e. 1(one) equity share of Rs. 2 each for every 2 (two) fully paid up equity shares held as on the record date, subject to approval of the members of the Company.

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Indias insurance sector is undergoing unprecedented modernization: Report
Aug 14,2017

Insurers must adapt to New-age customers needs, leverage on the explosion of data and digital footprint and the changing investment environment.

The CII - PWC report, titled Evolving Considerations for the Indian Insurance Industry discusses three key areas relevant to the current insurance sector - Simple Products and Low Cost Distribution, Digitization and Fraud Management and Broadening Investment Horizon.

Eco system for insurance in India is rapidly changing. Government of India initiatives such as demonetization, introduction of UPI, India Stack are accelerating the adoption of digital technologies. The Insurance Regulatory & Development Authority of India (IRDAI) is heralding change through its e-insurance initiative and financial literacy programs. Mobile adoption and internet trends under Digital India banner are bringing in a new generation of customers who are conversant and comfortable with using technology for their financial decisions. It is important to adapt to strategies that align with these changing trends to stay ahead of competition.

Some of the ways of achieving transformation in Indian Insurance Sector can be illustrated as follows. There needs be a simplification of products in the areas of policy benefit, wording of policy, application process and the claim process. The insurers could focus on One Need One Product scenario, where customers are provided simplified products that cater to their specific needs. Big Data technologies needs to be leveraged to enable augmentation of the traditional data with images, text, voice and IOT (telematics, wearables and drones). The Intelligence techniques could be encouraged which include machine learning from past experience and improve their prediction of fraud over time. The modern investment choices like private equity, property, derivative and digital for higher returns in the current low interest rate environment could be explored. Asset liability management that use qualitative and quantitative portfolio optimisation techniques can be leveraged to drive effective investment strategies.

Mr Chandrajit Banerjee, Director General, CII said, n++The Insurance Industry is at the threshold of a long period of growth. With the rapid change in technology and digitisation, the drivers of insurance business are changing. Those insurers who disrupt themselves continuously would be the ones who will succeed in the long run. All stakeholders - the industry, intermediaries, government and regulator need to work together in transforming customer experiencen++.

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Satin Creditcare Network grants options
Aug 14,2017

Satin Creditcare Network has approved the grant of 1,45,200 options to the Employees of the Satin Creditcare Network and its Subsidiaries at an exercise price of Rs. 160/- each, under the Satin ESOP Scheme, 2017 (ESOP Scheme, 2017).

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Ramchandra Leasing and Finance schedules AGM
Aug 14,2017

Ramchandra Leasing and Finance announced that the Annual General Meeting (AGM) of the company will be held on 26 September 2017.

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Sonal Mercantile to conduct AGM
Aug 14,2017

Sonal Mercantile announced that the Annual General Meeting (AGM) of the company will be held on 28 September 2017.

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Mather & Platt Fire Systems to convene AGM
Aug 14,2017

Mather & Platt Fire Systems announced that the Annual General Meeting (AGM) of the company will be held on 29 September 2017.

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Sanmit Infra schedules AGM
Aug 14,2017

Sanmit Infra announced that the Annual General Meeting (AGM) of the company will be held on 28 September 2017.

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Techno Electric surges after good Q1 earnings
Aug 14,2017

The result was announced on Saturday, 12 August 2017.

Meanwhile, the S&P BSE Sensex was up 281.56 points, or 0.9% at 31,495.15. The S&P BSE Mid-Cap index was up 348.82 points, or 2.37% at 15,075.09.

On the BSE, 6,255 shares were traded on the counter so far as against the average daily volumes of 8,385 shares in the past one quarter. The stock had hit a high of Rs 381.60 and a low of Rs 365 so far during the day. The stock had hit a record high of Rs on 438.95 on 8 June 2017 and a 52-week low of Rs 261.60 on 9 November 2016.

The stock had underperformed the market over the past one month till 11 Aug 2017, declining 7.6% compared with the Sensexs 1.68% fall. The scrip had also underperformed the market over the past one quarter declining 13.62% as against the Sensexs 3.18% rise. The scrip had also underperformed the market over the past one year advancing 6.06% as against the Sensexs 12.04% rise.

The mid-cap company has equity capital of Rs 22.54 crore. Face value per share is Rs 2.

Techno Electric & Engineering Company is a provider of engineering, procurement and construction (EPC) services to core sector industries in India.

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Mukta Arts to convene AGM
Aug 14,2017

Mukta Arts announced that the Annual General Meeting (AGM) of the company will be held on 13 September 2017.

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Shri Lakshmi Cotsyn schedules AGM
Aug 14,2017

Shri Lakshmi Cotsyn announced that the Annual General Meeting (AGM) of the company will be held on 19 September 2017.

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Panjon AGM scheduled
Aug 14,2017

Panjon announced that the Annual General Meeting (AGM) of the company will be held on 27 September 2017.

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Mudit Finlease to hold AGM
Aug 14,2017

Mudit Finlease announced that the Annual General Meeting (AGM) of the company will be held on 28 September 2017.

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