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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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Quick Heal Tech declines on reverse turnaround in Q1
Aug 14,2017

The result was announced after market hours on Friday, 11 August 2017.

Meanwhile, the S&P BSE Sensex was up 254.13 points or 0.81% at 31,467.72. The S&P BSE Small-Cap index was up 315.14 points or 2.1% at 15,351.47.

On the BSE, 57,641 shares were traded in the counter so far as against average daily volume of 50,689 shares in the past one quarter. The stock had hit a low of Rs 172.75 so far during the day, which is also a record low for the stock. The stock had hit a high of Rs 189.30 in intraday trade. The stock had hit a 52-week high of Rs 295.85 on 9 December 2016.

The stock has dropped 13.27% in five sessions to its ruling price, from a close of Rs 212 on 7 August 2017.

The stock had underperformed the market over the past one month till 11 August 2017, declining 15.16% compared with the Sensexs 1.68% decline. The stock had also underperformed the market over the past one quarter, dropping 22.01% as against the Sensexs 3.18% rise. The scrip had also underperformed the market over the past one year, dropping 20.9% as against the Sensexs 12.04% rise.

The small-cap company has equity capital of Rs 70.19. crore. Face value per share is Rs 10.

Quick Heal Technologies total income fell 64.01% to Rs 35.19 crore in Q1 June 2017 over Q4 March 2017.

Kailash Katkar, Managing Director and Chief Executive Officer of the company said that the performance in Q1 June 2017 was adversely impacted by the transition of economy to the GST regime from 1 July 2017.

The decline in retail segment revenues was primarily on account of delay in stocking of products by the distributors who were waiting for commencement of the GST regime. July witnessed good pickup in demand from the distributors who had held back their purchases in Q1 June 2017, he added.

Quick Heal Technologies is one of the leading providers of security software products and solutions in India.

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TVS Electronics advances after turnaround in Q1
Aug 14,2017

The result was announced after market hours on Friday, 11 August 2017.

Meanwhile, the S&P BSE Sensex was up 240.14 points, or 0.77% at 31,453.73. The S&P BSE Small-Cap index was up 309.94 points, or 2.06% at 15,346.27.

On the BSE, 36,000 shares were traded on the counter so far as against the average daily volumes of 29,331 shares in the past one quarter. The stock had hit a high of Rs 190 and a low of Rs 178.10 so far during the day. The stock had hit a 52-week high of Rs 231.90 on 13 December 2016 and a 52-week low of Rs 87.65 on 29 August 2016.

The stock had underperformed the market over the past one month till 11 Aug 2017, declining 10.92% compared with the Sensexs 1.68% fall. The scrip had also underperformed the market over the past one quarter declining 10.22% as against the Sensexs 3.18% rise. The scrip had, however, outperformed the market over the past one year advancing 84.84% as against the Sensexs 12.04% rise.

The small-cap company has equity capital of Rs 18.61 crore. Face value per share is Rs 10.

TVS Electronics net sales surged 725.3% to Rs 883.29 crore in Q1 June 2017 over Q1 June 2016.

TVS Electronics is engaged in manufacturing of computer printers, trading of computer printers, keyboards and telecommunication parts, distribution of mobile phones, and offering services.

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Goldstone Infratech outcome of board meeting
Aug 14,2017

The Board of Goldstone Infratech on 14th August 2017 has approved the issue of equity shares upto 1,41,00,000 of Rs 4 each at a price of Rs 80.10 (including premium of Rs 76.10) to Non Promoters Group on a preferential basis, Issue of convertible warramts upto 54,00,000 at a price of Rs 80.10 (including Premium of Rs 76.10) to M/s Goldstone Power Private Limited (belonging to the Promoter group of the Company) on preferential basis and Goldstone Infratech Limited Employee Stock Option Plan - 2017.

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Gruh Finance allots equity shares
Aug 14,2017

Gruh Finance on 14th August 2017 has allotted 170,455 equity shares of Rs 2 each pursuant to the exercise of stock options by employees/directors.

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Jindal Worldwide appoints Director
Aug 14,2017

Jindal Worldwide has appointed Ms. Maneesha Jha Thakur as an Additional Director under the category of the Independent Director of the Company w.e.f. 11th August , 2017 to hold office forterm of 1(One) year.

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Appu Marketing & Manufacturing fixes record date for Final Dividend
Aug 14,2017

Appu Marketing & Manufacturing has fixed 18th September 2017 as the Record Date for the purpose of Final Dividend.

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Dwitiya Trading appoints Director
Aug 14,2017

Dwitiya Trading has appointed Mr. Saurav Sonthalia as an Additional - Non-Executive Independent Director of the Company for a period of five years from August 12, 2017 to August 11, 2022, subject to the approval of the shareholders of the Company at the forthcoming General Meeting.

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Vinati Organics gains as board approves buyback
Aug 14,2017

The announcement was made after market hours on Friday, 11 August 2017.

Meanwhile, the S&P BSE Sensex was up 236.05 points, or 0.76%, to 31,449.64. The S&P BSE Mid-Cap index was up 270.03 points, or 1.83%, to 14,996.30.

On BSE, so far 5,922 shares were traded in the counter as against average daily volume of 6,739 shares in the past one quarter. The stock hit a high of Rs 1,024.15 and a low of Rs 944.60 so far during the day. The stock hit a record high of Rs 1,122 on 8 August 2017. The stock hit a 52-week low of Rs 511 on 9 November 2016.

The mid-cap company has equity capital of Rs 10.32 crore. Face value per share is Rs 2.

Vinati Organics board at its meeting held on 11 August 2017, approved buyback of upto 2 lakh shares or 0.39% equity share capital of the company from all the shareholders on a proportionate basis through the tender offer route using the stock exchange mechanism at Rs 1,200 per share.

Vinati Organics net profit fell 12.96% to Rs 31.10 crore on 12.98% rise in net sales to Rs 184.42 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours on Friday, 11 August 2017.

Vinati Organics manufactures isobutyl benzene, the prime raw material for the manufacture of ibuprofen, a vital bulk drug.

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Prime Property Development Corporation fixes record date
Aug 14,2017

Prime Property Development Corporation has fixed 22nd September 2017 as the record date for the purpose of payment of dividend, if approved by the members in the Annual General Meeting.

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Dwitiya Trading fixes record date for Final Dividend
Aug 14,2017

Dwitiya Trading has fixed 18th September 2017 as the record date for the purpose of determining the name of members eligible for receipt of the final dividend.

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Santosh Fine-Fab director resigns
Aug 14,2017

Santosh Fine-Fab announced that Mr Mahesh R Maheshwari, an independent director since 3rd August 2017 has resigned vide letter dated the same date and the same has been approved by the Board.

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PVV Infra changes directorate
Aug 14,2017

PVV Infra has appointed Shri K Kiran Kumar as Additional Director ofthe company. The Board also approved the cessation of Mr. Chanakya Bellam, Mr.Ajay Yadav and Mr. Srikanth Gummalla as Directorsof the company.

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Trident appoints director
Aug 14,2017

Trident on 12th August 2017 has appointed Mr Dinesh Kumar Mittal as an Additional Director in the capacity Independent Director of the Company.

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BPCL retracts on disappointing Q1 results
Aug 14,2017

The result was announced after market hours on Friday, 11 August 2017.

Meanwhile, the S&P BSE Sensex was up 256.20 points or 0.82% at 31,469.79.

On the BSE, 78,605 shares were traded on the counter so far as against the average daily volumes of 1.78 lakh shares in the past one quarter. The stock had hit a high of Rs 485.15 and a low of Rs 465.75 so far during the day. The stock had hit a record high of Rs 530 on 8 August 2017. The stock had hit a 52-week low of Rs 375.64 on 12 September 2016.

The stock had outperformed the market over the past one month till 11 August 2017, gaining 7.17% compared with the Sensexs 1.68% decline. The stock had, however, underperformed the market over the past one quarter, declining 0.35% as against the Sensexs 3.18% rise. The scrip had, however, outperformed the market over the past one year, gaining 21.99% as against the Sensexs 12.04% rise.

The large-cap company has equity capital of Rs 2169.25 crore. Face value per share is Rs 10.

BPCLs average gross refining margin (GRM) fell to $4.88 per barrel in Q1 June 2017 from $6.09 per barrel in Q1 June 2016.

The company has accounted compensation towards sharing of under-recoveries on sale of sensitive petroleum products of Rs 196.75 crore by way of subsidy for Q1 June 2017 compared to Rs 307.28 crore in Q1 June 2016 accounted as revenue from operations.

The net under-recovery absorbed by the corporation on sale of sensitive petroleum products is nil in Q1 June 2017 and Q1 June 2016.

BPCL is a state-run oil refining-cum-marketing company. The Government of India held 54.93% stake in BPCL (as per the shareholding pattern as on 30 June 2017).

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Reliance Power gets credit rating revised
Aug 14,2017

ICRA Ratings has revised its long term ratings on Reliance Powers Rs 6015 Crore Line of Credit to [ICRA] BBB (pronounced ICRA triple B) and the short-term rating to [ICRA] A2 (pronounced ICRA A two). The Company however disagrees with views of ICRA stating that ICRA has not appropriately factored in the above measures taken by the Company while assigning the rating.

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