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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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Jobs gap closes but recovery remains uneven-OECD
Jun 15,2017

The job market continues to improve in the OECD area, with the employment rate finally returning to pre-crisis levels. But people on low and middle incomes have seen their wages stagnate and the share of middle-skilled jobs has fallen, contributing to rising inequality and concerns that top earners are getting a disproportionate share of the gains from economic growth, according to a new OECD report.

The OECD Employment Outlook 2017 finds that the employed share of the population aged 15 to 74 years rose for the third consecutive year. It is expected to reach 61.5% by the end of 2018, above its peak of 60.9% in the fourth quarter of 2007.

Growing occupational polarisation has also contributed to rising discontent with globalisation, as those with lower or declining wages feel that the benefits from openness and interconnection are being reaped by a few. But the Outlook reveals that more than trade integration, job polarisation has been driven by pervasive and skill-biased technological changes. Between 1995 and 2015, the middle-skill share of employment fell by 9.5 percentage points in the OECD area, while the shares of high- and low-skill occupations rose by 7.6 and 1.9 percentage points, respectively.

n++While the jobs gap is closing, many people do not feel the benefits as they are facing stagnant wages and no career prospects: we need an inclusive labour market that reconnects the benefits of our economic model with those who work in it,n++ said OECD Secretary-General Angel Gurrn++a, launching the report in Berlin with the German Minister for Labour and Social Affairs, Andrea Nahles. n++It is essential to ensure that the benefits of globalisation and growth are widely shared and that our policies are future-proofed to help workers grasp the new opportunities but also respond to the challenges of a rapidly changing world of work.n++

The Outlook projects that the labour market will continue to improve until at least the end of 2018, with nearly 47 million more people employed than at the end of 2007.

Unemployment in the OECD area has fallen by 12 million people since peaking in the first quarter of 2010 and youth unemployment is down by 3.8 million. The OECD average unemployment rate is projected to further inch downwards from 6.1% at the end of the first quarter of 2017 - 38 million unemployed - to 5.7% in at the end of 2018 - 36 million unemployed.

But significant challenges persist. The labour market recovery remains highly uneven. The employment rate is likely to be only 1% above its pre-crisis level by the end of 2018. Large jobs deficits will persist in some countries, notably in Southern Europe. Even in countries where employment has recovered, wage growth remains subdued.

About one-third of overall polarisation in the OECD labour market is due to shifts in jobs from manufacturing to services, with factory workers who have lost their jobs often being forced to take up lower-paid work in the services sector. The remaining two-thirds reflect rising polarisation within industries. These widespread shifts in employment are largely explained by the demand for labour concentrating in high-skilled jobs as well as low-skilled ones with a hollowing of the middle.

To address this, governments must help workers build the right skills, and give them the opportunities to upskill and reskill throughout their working lives. Countries should also better assess changing skill needs, adapt curricula and guide students towards choices that open up labour market opportunities. In all OECD countries, high skilled workers have two to three times as many opportunities to participate in on-the-job training as their low-skilled counterparts.

Social protection and labour market policies must also adapt to evolving forms of employment. More than one-half of independent workers in Europe are not covered by unemployment benefits. Providing social protection for all is key. Countries should take steps to ensure entitlements are portable from one job to the next, and make it easier to cumulate contributions from multiple jobs.

‌The Outlook includes a new scoreboard comparing the labour market performance of countries based on the quantity and quality of employment, as well as the inclusiveness of the job market. It shows that only a few OECD countries do well in all three areas, including Nordic countries, Germany, the Netherlands and Switzerland.

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Aarti Industries spurts after winning contract
Jun 15,2017

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

Meanwhile, the S&P BSE Sensex was down 44.89 points, or 0.14% to 31,111.02.

On the BSE, 43,000 shares were traded in the counter so far, compared with average daily volumes of 23,915 shares in the past one quarter. The stock had hit a high of Rs 1,024.95 so far during the day, which is also a record high for the counter. The stock had hit a low of Rs 874.40 so far during the day. The stock hit a 52-week low of Rs 482 on 24 June 2016.

The stock had underperformed the market over the past one month till 14 June 2017, falling 8.20% compared with 1.87% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 10.54% as against Sensexs 5.31% rise. The scrip had also outperformed the market in past one year, rising 75.28% as against Sensexs 16.57% rise.

The mid-cap speciality chemicals company has equity capital of Rs 41.66 crore. Face value per share is Rs 5.

Aarti Industries announced that it has entered into a multi-year contract with a global agriculture company to supply a high value agrochemical intermediary.

The contract entails supply of a high value agrochemical intermediary, for use in herbicides, over a 10 year period. The supplies are expected to commence from the financial year ending March 2020 and will generate expected revenues of approximately Rs 4000 crore (approximately $620 million) over the contract term. The project will entail investment of about Rs 400 crore (approximately $62 million) by Aarti Industries.

The speciality chemicals market has been growing at 14% over the last five years and the market size is expected to touch $70 billion by 2020, the company said in a statement.

Net profit of Aarti Industries rose 6.8% to Rs 74.33 crore on 12.2% rise in net sales to Rs 834.35 crore in Q4 March 2017 over Q4 March 2016.

Aarti Industries is Indias leading producer of Benzene-based basic and intermediate chemicals in India. It is one of the leading supplier to global manufacturers of dyes, pigments, agrochemicals, pharmaceuticals & rubber chemicals.

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Plastiblends India advances after fixing record date for bonus shares
Jun 15,2017

The announcement was made after market hours yesterday, 14 June 2017.

Meanwhile, the S&P BSE Sensex was down 24.15 points, or 0.08% at 31,131.76. The S&P BSE Small-Cap index was up 78.86 points, or 0.51% at 15,667.54.

On the BSE, 1,138 shares were traded on the counter so far as against the average daily volumes of 1,365 shares in the past two weeks. The stock had hit a high of Rs 529 and a low of Rs 513 so far during the day. The stock had hit a record high of Rs 579 on 3 November 2016 and a 52-week low of Rs 399 on 27 March 2017.

The stock had underperformed the market over the past one month till 14 June 2017, declining 4% compared with the Sensexs 3.21% rise. The scrip had, however, outperformed the market over the past one quarter advancing 8.88% as against the Sensexs 5.82% rise. The scrip had also outperformed the market over the past one year advancing 18.96% as against the Sensexs 18.03% rise.

The small-cap company has equity capital of Rs 6.50 crore. Face value per share is Rs 5.

Plastiblends India announced that the company has fixed Tuesday, 4 July 2017 as the record date to eligible shareholders for issuance of bonus equity shares in the ratio 1:1 i.e. one bonus share for every one held.

Plastiblends Indias net profit fell 4.2% to Rs 9.02 crore on 6.6% increase in net sales to Rs 155.43 crore in Q4 March 2017 over Q4 March 2016.

Plastiblends India is engaged in the manufacturing of masterbatches.

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Board of Lahoti Overseas recommends final dividend
Jun 15,2017

Lahoti Overseas announced that the Board of Directors of the Company at its meeting held on 29 May 2017, inter alia, have recommended the final dividend of Rs 0.4 per equity Share (i.e. 20%) , subject to the approval of the shareholders.

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Board of BDH Industries recommends final dividend
Jun 15,2017

BDH Industries announced that the Board of Directors of the Company at its meeting held on 29 May 2017, inter alia, have recommended the final dividend of Rs 2 per equity Share (i.e. 20%) , subject to the approval of the shareholders.

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Board of Zen Technologies recommends final dividend
Jun 15,2017

Zen Technologies announced that the Board of Directors of the Company at its meeting held on 29 May 2017, inter alia, have recommended the final dividend of Rs 0.15 per equity Share (i.e. 15%) , subject to the approval of the shareholders.

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Repco Home Finance moves higher on fund raising
Jun 15,2017

The announcement was made after market hours yesterday, 14 June 2017.

Meanwhile, the S&P BSE Sensex was down 24.72 points or 0.08% at 31,131.19. The S&P BSE Mid-Cap index rose 7.50 points or 0.05% at 14,806.91.

On the BSE, 28,000 shares were traded on the counter so far as against the average daily volumes of 33,000 shares in the past two weeks. The stock had hit a high of Rs 918.80 and a low of Rs 883.55 so far during the day. The stock had hit a record high of Rs 923 on 13 June 2017 and a 52-week low of Rs 499.50 on 20 December 2016.

The stock had outperformed the market over the past one month till 14 June 2017, advancing 17.54% compared with the Sensexs 3.21% rise. The stock had also outperformed the market over the past one quarter, gaining 39% as against the Sensexs 5.82% rise. The scrip had also outperformed the market over the past one year, surging 21.25% as against the Sensexs 18.03% rise.

The mid-cap company has equity capital of Rs 62.56 crore. Face value per share is Rs 10.

Repco Home Finance announced that the securities allotment committee of the board of directors of the company approved the allotment of 2,720 secured, redeemable, non-convertible, non-cumulative debentures (SRNCD) aggregating to Rs 272 crore on private placement basis to International Finance Corporation.

Repco Home Finances net profit rose 19.8% to Rs 50.59 crore on 13.9% increase in total income to Rs 273.66 crore in Q4 March 2017 over Q4 March 2016.

Repco Home Finance (RHFL) is one of the leading housing finance companies in India.

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Repco Home Finance to allot NCDs aggregating Rs 100 crore
Jun 15,2017

Repco Home Finance announced that the Board vide Resolution passed by circulation on 15 June 2017, has inter alia approved the allotment of 1000 Secured, Redeemable, Non-Convertible, Non-Cumulative Debentures (SRNCD) of face value of Rs.10,00,000 each aggregating to Rs.100 crore on private placement basis.

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Aurobindo Pharma gallops after USFDA nod for generic drug
Jun 15,2017

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

Meanwhile, the S&P BSE Sensex was down 17.86 points, or 0.06% to 31,138.05.

On the BSE, 4.48 lakh shares were traded in the counter so far, compared with average daily volumes of 2.99 lakh shares in the past one quarter. The stock had hit a high of Rs 640.80 and a low of Rs 600.75 so far during the day. The stock hit a record high of Rs 895 on 6 October 2016. The stock hit a 52-week low of Rs 504 on 29 May 2017.

The stock had underperformed the market over the past one month till 14 June 2017, falling 2.12% compared with 1.87% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 12.48% as against Sensexs 5.31% rise. The scrip had also underperformed the market in past one year, falling 18.99% as against Sensexs 16.57% rise.

The large-cap company has equity capital of Rs 58.59 crore. Face value per share is Re 1.

Aurobindo Pharma announced that it has received final approval from the US Food & Drug Administration (USFDA) to manufacture Sevelamer Carbonate oral suspension, 0.8 gm and 2.4 gm. Sevelamer Carbonate oral suspension, a therapeutic equivalent generic version of Genzymes Renvela oral suspension. The product is being launched immediately.

Sevelamer Carbonate oral suspension is indicated for the control of serum phosphorus in patients with chronic kidney disease (CKD) on dialysis. The approved product has an estimated market size of $140 million in the US for the twelve months ending April 2017 according to IMS.

This is the 116th Abbreviated New Drug Application (ANDA) (including 19 tentative approvals) to be approved out of Unit VII formulation facility in Hyderabad, India used for manufacturing oral products. Aurobindo now has a total of 323 ANDA approvals (288 Final approvals including 16 from Aurolife Pharma LLC and 35 tentative approvals) from USFDA.

On a consolidated basis, net profit of Aurobindo Pharma declined 4.02% to Rs 532.45 crore on 2.50% decline in net sales to Rs 3582.13 crore in Q4 March 2017 over Q4 March 2016.

Aurobindo Pharma manufactures generic pharmaceuticals and active pharmaceutical ingredients.

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IndusInd Bank to pay dividend
Jun 15,2017

IndusInd Bank announced that dividend would be paid on or after 31 July 2017.

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Aarti Industries bags Rs 4000 crore multi-year contract
Jun 15,2017

Aarti Industries has entered into a Rs 4000 crore multi-year contract with a Global Agriculture Company for supply of a high value agrochemical intermediary.

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Ratnamani Metals & Tubes secures two orders
Jun 15,2017

Ratnamani Metals & Tubes has bagged two new orders aggregating to Rs.328.00 crores for supply of HSAW pipes of Rs.116.00 crore and supply of ERW pipes of Rs.212.00 crore for Oil and Gas Pipe lines to be completed by Dec 2017/Jan 2018.

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States shortlisted by NITI for transformative change in Health and Education
Jun 15,2017

NITI Aayog has initiated a unique and novel initiative to catalyse transformational change in key Social Sectors. Under SATH (Sustainable Action for Transforming Human Capital), NITI Aayog and its knowledge partners will provide strategic, technical and implementation support to three states for each sector. A Committee comprising of Member, NITI Aayog , Sh Bibek Debroy, CEO, Amitabh Kant, Advisers of NITI Aayog and representatives of Health and Education Ministry spent two days assessing and vetting presentations by 14 States for each of the two social sectors. The States showcased the initiatives undertaken by them thus far, their willingness to accelerate improvement and justified why they should be selected for the institutional support being offered by NITI Aayog under the program.

Transformative change in social sector is challenging as the pace is slow, as compared to the infrastructure sector. The issues are multi-layered and complex, involving both governance and building capacity of human capital. NITI Aayog has taken up this challenge and has decided to deep dive into handholding the States through a time bound and outcome oriented process. After final selection of the States, a Program Management Unit to push for efficiency and efficacy in governance structures and service delivery will be available at the State level for a period of 30 months. It is expected that these 36 months of focussed attention and support from the premier think tank will lead to a marked transformation and will also provide a model for other States to replicate and adapt.

In Health sector, five States have been shortlisted as run up to the final selection of three. These are, Uttar Pradesh, Bihar, Assam, Karnataka and Gujarat. Similarly in Education, the shortlisted States are Madhya Pradesh, Odisha, Chhattisgarh, Jharkhand and Andhra Pradesh. In both sectors, the States have to commit to a time-bound focus, governance reforms and delivery of outcomes for final selection for the partnership. The proposed partnership of NITI Aayog, States and a knowledge partner is challenging and ambitious as the baseline of various indicators and parameters of education and health in the States are in public domain. All stakeholders will be under pressure from the day of signing of the MOU to initiate reforms or processes which will show improvement in education and learning outcomes.

The initiative is interesting on another theoretical level too, as it defines a new dimension for cooperative federalism, where NITI Aayog and its knowledge partner will actively aid implementation of their recommendations, in addition to just policy inputs. Depending on the promptness of the response of governance commitments posed to them, the final selection of the three States in each of the sectors is expected to be completed in July 2017.

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Lux Inds hits record high
Jun 15,2017

Meanwhile, the S&P BSE Sensex was up 8.41 points or 0.03% at 31,164.32. The S&P BSE Small-Cap index rose 82.85 points or 0.53% at 15,671.53.

On the BSE, 95,000 shares were traded on the counter so far as against the average daily volumes of 1.24 lakh shares in the past two weeks. The stock had hit a high of Rs 1,114 so far during the day, which is a record high. The stock hit a low of Rs 1,039.05 so far during the day. The stock had hit a 52-week low of Rs 570.45 on 18 August 2016.

The stock had outperformed the market over the past one month till 14 June 2017, advancing 26.96% compared with the Sensexs 3.21% rise. The stock had also outperformed the market over the past one quarter, gaining 59.65% as against the Sensexs 5.82% rise. The scrip had also outperformed the market over the past one year, surging 69.56% as against the Sensexs 18.03% rise.

The small-cap company has equity capital of Rs 5.05 crore. Face value per share is Rs 2.

Shares of Lux Industries have risen 20.37% in two trading sessions from its closing of Rs 901.35 on 13 June 2017, after the Reliance Mutual Fund purchased bulk shares of the company via bulk deal on Tuesday, 13 June 2017. The stock had spurted 15.64% to settle at Rs 1,042.35 yesterday, 14 June 2017.

Valuead Securities sold 5.62 lakh shares of apparel firm Lux Industries at Rs 901.64 per share in a bulk deal on the BSE on 13 June 2017. Reliance Mutual Fund bought 4.44 lakh shares at Rs 900.4 per share.

Valuead Securities held 2.23% stake in Lux Industries end March 2017.

Lux Industries net profit rose 26.9% to Rs 19.59 crore on 3.6% growth in net sales to Rs 279.57 crore in Q4 March 2017 over Q4 March 2016.

Lux Industries makes various kinds of hosiery products for men, women and children.

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Board of S Chand & Company recommends final dividend
Jun 15,2017

S Chand & Company announced that the Board of Directors of the Company at its meeting held on 12 June 2017, inter alia, have recommended the final dividend of Rs 1.25 per equity Share (i.e. 25%) , subject to the approval of the shareholders.

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