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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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Board of Manappuram Finance recommends dividend
Aug 11,2017

Manappuram Finance announced that the Board of Directors of the Company at its meeting held on 10 August 2017, inter alia, have recommended the dividend of Rs 0.5 per equity Share (i.e. 25%) , subject to the approval of the shareholders.

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Sun Pharmaceuticals Industries allots 799 equity shares
Aug 11,2017

Sun Pharmaceuticals Industries has allotted 799 (Seven Hundred and Ninety Nine) equity shares of the Company of Re 1/- each, on exercise of stock options under the Sun Employee Stock Option Scheme - 2015.

Accordingly, post the above allotment the paid-up equity share capital of the Company is Rs. 2,39,93,06,980/- (Rupees Two Hundred and Thirty Nine Crores Ninety Three Lakhs Six Thousand Nine Hundred and Eighty Only) divided into 2,39,93,06,980/- (Two Hundred and Thirty Nine Crores Ninety Three Lakhs Six Thousand Nine Hundred and Eighty Only) equity shares of Re.1/- each.

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GSS Infotech to conduct AGM
Aug 11,2017

GSS Infotech announced that the 14th Annual General Meeting (AGM) of the company will be held on 30 September 2017.

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IOB declines after disappointing Q1 numbers
Aug 11,2017

The result was announced after market hour yesterday, 10 August 2017.

Meanwhile, the S&P BSE Sensex was down 193.66 points or 0.61% at 31,337.67. The S&P BSE Mid-Cap index rose 99.79 points or 0.68% at 14,855.64.

On the BSE, 97,000 shares were traded on the counter so far as against the average daily volumes of 1.95 lakh shares in the past one quarter. The stock had hit a high of Rs 22.80 and a low of Rs 21.65 so far during the day. The stock had hit a 52-week high of Rs 32.25 on 5 May 2017 and a 52-week low of Rs 21.10 on 9 November 2016.

The stock had underperformed the market over the past one month till 10 August 2017, sliding 10.64% compared with the Sensexs 0.58% fall. The stock had also underperformed the market over the past one quarter, declining 24.88% as against the Sensexs 4.24% rise. The scrip had also underperformed the market over the past one year, sliding 12.33% as against the Sensexs 13.52% rise.

The mid-cap bank has equity capital of Rs 2454.73 crore. Face value per share is Rs 10.

Indian Overseas Banks total income declined 11.8% to Rs 5174.50 crore in Q1 June 2017 over Q1 June 2016.

The banks gross non-performing assets (NPAs) stood at Rs 35453.12 crore as on 30 June 2017 as against Rs 35098.25 crore as on 31 March 2017 and Rs 33913.15 crore as on 30 June 2016.

The ratio of gross NPAs to gross advances stood at 23.6% as on 30 June 2017 as against 22.39% as on 31 March 2017 and 20.48% as on 30 June 2016.

The ratio of net NPAs to net advances stood at 14.97% as on 30 June 2017 as against 13.99% as on 31 March 2017 and 13.97% as on 30 June 2016.

The banks provisions and contingencies fell 24.8% to Rs 1607.88 crore in Q1 June 2017 over Q1 June 2016.

The Government of India held 79.56% stake in Indian Overseas Bank as per the shareholding pattern as on 30 June 2017.

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Ashok Leyland gains after winning contract
Aug 11,2017

The announcement was made during trading hours today, 11 August 2017.

Meanwhile, the S&P BSE Sensex was down 210.80 points, or 0.67% to 31,320.53.

On the BSE, 8.67 lakh shares were traded in the counter so far, compared with average daily volumes of 16.93 lakh shares in the past one quarter. The stock had hit a high of Rs 105.45 and a low of Rs 98.80 so far during the day. The stock hit a record high of Rs 114.25 on 8 August 2017. The stock hit a 52-week low of Rs 73.60 on 22 November 2016.

The stock had underperformed the market over the past one month till 10 August 2017, falling 2.91% compared with 0.86% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 20.75% as against Sensexs 4.45% rise. The scrip had also outperformed the market in past one year, rising 18.33% as against Sensexs 13.18% rise.

The large-cap company has equity capital of Rs 292.65 crore. Face value per share is Re 1.

Ashok Leyland will supply 500 fully-built trucks to Rivigo, Indias fastest growing logistics company.

Ashok Leylands net profit fell 61.7% to Rs 111.23 crore on 0.5% decline in net sales to Rs 4237.78 crore in Q1 June 2017 over Q1 June 2016.

Ashok Leyland is one of the leading manufacturers of medium and heavy commercial vehicles in India.

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Biocon incorporate subsidiary in Malaysia
Aug 11,2017

Biocon has incorporated a wholly owned subsidiary - Biocon Healthcare SDN.BHD in Malaysia, which is registered with the Registrar of Companies, Malaysia on 10 August 2017.

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Manappuram Finance fixes record date for interim dividend
Aug 11,2017

Manappuram Finance has fixed 23 August 2017 as the Record date for the purpose of Payment of Interim Dividend.

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Goldstone Infratech to announce Quarterly Result
Aug 11,2017

Goldstone Infratech will hold a meeting of the Board of Directors of the Company on 14 August 2017.

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Surana Corporation schedules board meeting
Aug 11,2017

Surana Corporation will hold a meeting of the Board of Directors of the Company on 12 August 2017.

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Websol Energy System to announce Quarterly Result
Aug 11,2017

Websol Energy System will hold a meeting of the Board of Directors of the Company on 21 August 2017.

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Bharat Electronics to announce Quarterly Result
Aug 11,2017

Bharat Electronics will hold a meeting of the Board of Directors of the Company on 10 August 2017.

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La Tim Metal & Industries to declare Quarterly Result
Aug 11,2017

La Tim Metal & Industries will hold a meeting of the Board of Directors of the Company on 14 September 2017.

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Noble Explochem to announce Quarterly Result
Aug 11,2017

Noble Explochem will hold a meeting of the Board of Directors of the Company on 14 August 2017.

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Gemini Communication to announce Quarterly Result
Aug 11,2017

Gemini Communication will hold a meeting of the Board of Directors of the Company on 14 August 2017.

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Asian Paints schedules EGM
Aug 11,2017

Asian Paints announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 14 September 2017 .

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