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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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Acrysil to hold board meeting
Mar 09,2017

Acrysil will hold a meeting of the Board of Directors of the Company on 15 March 2017, to consider Annual Operational Plan of the Company, and any other matter as the Board of Directors of the Company may decide during the course of the meeting.

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Fiberweb (India) to hold board meeting
Mar 09,2017

Fiberweb (India) will hold a meeting of the Board of Directors of the Company on 11 March 2017, to consider Issue Of 1800000 Convertible Equity Warrants Of Face Value Of Rs.10/ Each at a Issue Price Of Rs. 181/- (Including Premium Amount Of Rs. 171/- Per Convertible Equity Warrants)On Preferential Basis.

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Cyient partners with Liberty Global
Mar 09,2017

Cyient has been selected by Liberty Global to support its new GIGAWorld initiative to bring Gigabit broadband speeds to its operations in Europe.

Announced last November, Liberty Globals GIGAWorld initiative seeks to bring broadband speeds of one gigabit and more to tens of millions of households across Europe.

With capabilities in delivering FTTP (Fiber to the premise) and HFC (hybrid fiber coaxial) planning and design services, Cyient will support Liberty Global in its goal for faster provisioning of next generation broardband services to existing customers.

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Rama Phosphates gets revision in credit ratings
Mar 09,2017

Rama Phosphates has received revision in credit ratings for bank facilities (Rs 120 crore) from CRISIL.

Long term ratings - CRISIL BB+/ Stable (Upgraded from CRISIL BB/ Stable)

Short term rating - CRISIL A4+ (Reaffirmed)

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Shilpa Medicare fixes record date for interim dividend
Mar 09,2017

Shilpa Medicare has fixed 21 March 2017 as record date for payment of interim dividend and the payment will be made on 27 March 2017.

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Board of Solis Marketing approves change in directorate
Mar 09,2017

The Board of Directors of Solis Marketing at its meeting held on 27 February 2017 has appointed Rahul Kumar as Director on the Board of the Company in place of Kailash Chand Upreti with effect from 27 February 2017.

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Volumes jump at Reliance Industries counter
Mar 09,2017

Reliance Industries clocked volume of 39.66 crore shares by 13:26 IST on BSE, a 367.44-times surge over two-week average daily volume of 10.80 lakh shares. The stock fell 0.60% to Rs 1,284.20.

Borosil Glass Works notched up volume of 97,000 shares, a 70.54-fold surge over two-week average daily volume of 1,000 shares. The stock fell 1% to Rs 6,199.

Bajaj Holdings & Investment saw volume of 25,000 shares, a 17.76-fold surge over two-week average daily volume of 1,000 shares. The stock rose 0.02% to Rs 2,105.

Gateway Distriparks clocked volume of 2.03 lakh shares, a 15.55-fold surge over two-week average daily volume of 13,000 shares. The stock fell 0.59% to Rs 251.70.

Tata Chemicals saw volume of 3.93 lakh shares, a 9.33-fold rise over two-week average daily volume of 42,000 shares. The stock fell 0.41% to Rs 564.05.

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Shreyas Shipping & Logistics announces acquisition of vessel M.V. SSL Kolkata
Mar 09,2017

Shreyas Shipping & Logistics announced that the Company has taken delivery of vessel M.V. SSL Kolkata. The vessel is 1000 teus and shall be deployed on the Indian coast.

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Dr Reddys Laboratories intimates of completion of USFDA inspection of Duwada facility
Mar 09,2017

Dr Reddys Laboratories announced that the audit of Companys formulation manufacturing facilty at Duwada, Visakhapatnam, by the US FDA, has been completed on 08 March 2017. The Company have been issued a Form 483 with 13 observations, which the Company is addressing.

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V-Mart Retail reverses recent rally on profit booking
Mar 09,2017

Meanwhile, the S&P BSE Sensex was down 32.19 points or 0.11% at 28,869.75

On the BSE, 94,000 shares were traded on the counter so far as against the average daily volumes of 19,186 shares in the past one quarter. The stock hit a high of Rs 883.75 in intraday trade so far, which is record high for the counter. The stock had hit a low of Rs 801 so far during the day. The stock had hit a 52-week low of Rs 425 on 24 June 2016.

The small-cap company has equity capital of Rs 18.07 crore. Face value per share is Rs 10.

V-Mart Retail net profit rose 81.3% to Rs 27.21 crore on 23.2% growth in net sales to Rs 326.49 crore in Q3 December 2016 over Q3 December 2015.

V-Mart Retail is a hypermarket format retail chain based in New Delhi. It is a multi-brand family retail store offering apparels, general merchandise and kirana.

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RIL slips after massive bulk deal
Mar 09,2017

Meanwhile, the S&P BSE Sensex was down 31.93 points or 0.11% at 28,870.01

Bulk deal boosted volume on the scrip. On the BSE, 39.64 crore shares were traded on the counter so far as against the average daily volumes of 4.66 lakh shares in the past one quarter. The stock had hit a high of Rs 1,298 and a low of Rs 1,281.70 so far during the day. The stock had hit a 52-week high of Rs 1,326.75 on 7 March 2017. The stock had hit a 52-week low of Rs 925.70 on 23 May 2016.

The large-cap company has equity capital of Rs 3243.98 crore. Face value per share is Rs 10.

It may be recalled that the promoter group entities of Reliance Industries (RIL) had proposed to restructure their shareholding in RIL by inter se transfer of shares among the promoter group entities. The disclosure was made after market hours on 2 March 2017.

The proposed inter se transfers will not result in any change in promoter group shareholding in RIL. As part of the rejig, the Mukesh Ambani promoter group, which owns a near-majority stake in RIL, plans to shrink the number of firms owning shares in the company.

The promoter group entities acquiring the stake are Devarshi Commercials LLP, Karuna Commercials LLP, Tattvam Enterprises LLP, Srichakra Commercials LLP, Svar Enterprises LLP, Vasuprada Enterprises LLP, Shreeji Comtrade LLP, and Shrikrishna Tradecom LLP. These eight promoter group companies of RIL will acquire around 119 crore shares, or 36.7%, from 15 other promoter group companies in an inter se transfer of shares, RIL had said on 2 March 2017.

The total promoter holding in RIL stood at 45.11% end December 2016. Mukesh Ambani, chairman and managing director of RIL, and his wife and board member Nita Ambani owned 0.11% each in RIL.

RILs consolidated net profit rose 3.6% to Rs 7506 crore on 17.6% growth in net sales to Rs 79408 crore in Q3 December 2016 over Q3 December 2015.

Reliance Industries (RIL) is Indias largest private sector company. RILs activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and telecommunications.

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TCI Industries allots preference shares to Promoter & Promoter Group entities
Mar 09,2017

TCI Industries announced that the Share Allotment Committee of the Board of Directors of the Company at its meeting held on 9 March 2017 has issued and allotted 44287, 0% Non-Convertible Redeemable Preference Shares (NCRPS) of Face Value of Rs. 100/- (Rupees Hundred only) each at a premium of Rs. 300/- (Rupees Three Hundred only) each to the entities belonging to the Promoter & Promoter Group of the Company.

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Outcome of board meeting of Padmanabh Industries
Mar 09,2017

Padmanabh Industries announced that the Board of Directors of the Company at its meeting held on 08 March 2017 has decided not to consider the proposal relating to issue of equity shares on preferential basis due to non-receipt of consent of prospective investors for size of the issue.

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Filatex India corrects on profit booking
Mar 09,2017

Meanwhile, the S&P BSE Sensex was down 8.96 points, 0.03% to Rs 28,892.98.

On the BSE, 1.99 lakh shares were traded on the counter so far as against the average daily volumes of 46,838 shares in the past one quarter. The stock had hit a high of Rs 107.80 so far during the day, which is also 52-week high for the counter. The stock hit a low of Rs 101 so far during the day. The stock had hit a 52-week low of Rs 34.55 on 9 March 2016.

The small-cap company has equity capital of Rs 43.50 crore. Face value per share is Rs 10.

Shares of Filatex India had rallied 56.58% in the preceding three trading sessions to settle at Rs 105.85 yesterday, 8 March 2017, from its closing of Rs 67.60 on 3 March 2017.

Filatex Indias net profit rose 25.4% to Rs 7.20 crore on 22.7% increase in net sales to Rs 366.59 crore in Q3 December 2016 over Q3 December 2015.

Filatex India is engaged in manufacture and trading of synthetic yarn and textiles. It manufactures polyester and polypropylene multifilament yarn, and polyester chips.

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Carborundum Universal allots 2500 equity shares
Mar 09,2017

Carborundum Universal has allotted 2,500 shares of Re.1/- each arising out of the exercise of stock options, granted to the option grantees of the Company under the Employees Stock Option Scheme 2007 on 08 March 2017. With this allotment the number of equity shares outstanding is 188,637,090 and the paid-up equity share capital is Rs.188,637,090/-.

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