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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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Zicom Electronic Security Systems appoints director
Jan 12,2017

Zicom Electronic Security Systems announced that on 12 January 2017 the Board of Directors have passed a circular resolution for appointing Tanvi Sanjiv Joshi as an Additional Director of the Company w.e.f. 12 January 2017 pursuant to Section 161 and other applicable provisions of the Companies Act, 2013 read with Rules thereunder and Article 114 of the Articles of Association of the Company.

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Wipro allots 7064 equity shares
Jan 12,2017

Wipro has allotted 7064 equity shares under ADS RSU Plan 2004 to the employees on 11 January 2017 pursuant to exercise of ESOPs.

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JSW Energy reschedules board meeting for considering Q3 results and private placement of NCD
Jan 12,2017

JSW Energy announced that the Meeting of the Board of Directors of the Company inter alia, to consider and approve the Unaudited Standalone and Consolidated Financial Results of the Company for the quarter and nine months ended 31 December 2016 (Q3) and to consider raising of long term funds through the issuance of Non-Convertible Debentures by way of a Private Placement has been rescheduled to 23 January 2017.

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Wipro to announce Q3 results
Jan 12,2017

Wipro will announced its results for third quarter ended 31 December 2016 on 25 January 2017 after stock market trading hours in India.

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Cyient standalone net profit rises 19.14% in the December 2016 quarter
Jan 12,2017

Net profit of Cyient rose 19.14% to Rs 72.15 crore in the quarter ended December 2016 as against Rs 60.56 crore during the previous quarter ended December 2015. Sales rose 10.72% to Rs 329.77 crore in the quarter ended December 2016 as against Rs 297.84 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales329.77297.84 11 OPM %25.2922.06 - PBDT107.4489.55 20 PBT93.2974.54 25 NP72.1560.56 19

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Bajaj Corp standalone net profit rises 17.22% in the December 2016 quarter
Jan 12,2017

Net profit of Bajaj Corp rose 17.22% to Rs 57.80 crore in the quarter ended December 2016 as against Rs 49.31 crore during the previous quarter ended December 2015. Sales declined 4.75% to Rs 186.40 crore in the quarter ended December 2016 as against Rs 195.70 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales186.40195.70 -5 OPM %32.8534.64 - PBDT74.7475.56 -1 PBT73.4874.44 -1 NP57.8049.31 17

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MoUs worth Rs. 8,835 crore signed in textile sector during Vibrant Gujarat 2017
Jan 12,2017

Union Textiles Minister Smt. Smriti Zubin Irani said that given the entrepreneurial spirit of Gujaratis & the investment inflow, the textile story of Gujarat has just begun. She said that as an area with one of the largest concentrations of textiles in India, Gujarat is a one-point sourcing hub for all kinds of textiles. The Minister also said that there are huge possibilities in textile education in Gujarat. She said that the skill development programme in textile sector conducted at 28 ITIs of Gujarat running the Textiles courses has recorded a placement figure of 75%. The Minister said that two major institutes of Gujarat, namely, NIFT and NID, and various engineering colleges offer degrees in textile technology, textile processing and textile engineering.

The Minister witnessed signing of MoUs worth Rs. 8,835 crore in textile sector. MoUs have been signed in different sectors such as textile parks, textile processing, machinery, carpet development, etc. The Textiles Minister said that Gujarat produces 29% of Indias total cotton production; she said this indicates the trust of textile industries in the prospects of the state. Smt. Irani assured the support of her Ministry to the development of the textile value chain of Gujarat and to explore possibilities in technical textiles and research.

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Hindusthan Urban Infrastructure gets revision in credit ratings
Jan 12,2017

Hindusthan Urban Infrastructure has received revision in ratings for bank facilities of the company from Credit Analysis & Research as under -

Long term bank facilities - CARE BBB-; Negative (Revised from CARE BBB)

Long term/ short term bank facilities - CARE BBB-; Negative / CARE A3 (Revised from CARE BBB/ CARE A2)

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ITC slips after bulk deal
Jan 12,2017

Meanwhile, the S&P BSE Sensex was up 100.26 points, or 0.37%, to 27,240.67

Bulk deal boosted volume on the scrip. On BSE, so far 12.45 lakh shares were traded in the counter, compared with average daily volume of 10.47 lakh shares in the past one quarter. The stock hit a high of Rs 247.60 and a low of Rs 243.65 so far during the day.

The stock hit a 52-week high of Rs 266 on 8 September 2016. The stock hit a 52-week low of Rs 178.67 on 29 February 2016. The stock had outperformed the market over the past 30 days till 11 January 2017, rising 5.18% compared with 1.66% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 3.49% as against Sensexs 1.82% fall.

The large-cap company has an equity capital of Rs 1212.14 crore. Face value per share is Re 1.

ITCs net profit rose 10.5% to Rs 2500.03 crore on 10.28% increase in total income to Rs 10136.06 crore in Q2 September 2016 over Q2 September 2015.

ITC is a diversified company, with presence in cigarettes, hotels, paperboards & specialty papers, packaging, agri-business, packaged foods & confectionery, information technology, branded apparel, personal care, stationery and other FMCG products. ITC is a market leader in cigarettes.

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Poona Dal and Oil Industries gets revision in credit ratings
Jan 12,2017

Poona Dal and Oil Industries has received revision in credit ratings from ICRA as under -

Long term bank facilities - ICRA A-/Stable (Revised from ICRA BBB+)
Short term non-fund based facilities - ICRA A2+ (Revised from ICRA A2)

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Alok Industries announces withdrawal of nominee director
Jan 12,2017

Alok Industries announced that IFCI has withdrawn the nomination of Sudhir Garg from the Board of Directors of the Company with effect from 27 December 2016.

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Bombay Dyeing & Manufacturing Company director resigns
Jan 12,2017

Bombay Dyeing & Manufacturing Company announced that Sheela Bhide, Non-Executive Independent Director of the Company, vide her letter dated 31 December 2016 has resigned with immediate effect due to her other commitments.

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Kewal Kiran Clothing wins award for Excellence in Financial Reporting for FY 2016
Jan 12,2017

Kewal Kiran Clothing announced that the Institute of Chartered Accountants of India has awarded the Company the Golden Shield Award for Excellence in Financial Reporting for the financial year 2015-16.

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Zee Learn vaults after reporting strong Q3 results
Jan 12,2017

The result was announced during market hours today, 12 January 2017.

Meanwhile, the BSE Sensex was up 110.33 points, or 0.41%, to 27,250.74.

High volumes were witnessed on the counter. On the BSE, 4.08 lakh shares were traded in the counter so far compared with average daily volume of 66,111 shares in the past one quarter. The stock had hit a high of Rs 49.30 so far during the day, which is a 52-week high for the stock. The stock hit a low of Rs 45 so far during the day. The stock had hit a 52-week low of Rs 26.50 on 24 June 2016.

The small-cap company has an equity capital of Rs 32.06 crore. Face value per share is Re 1.

A part of Essel Group, Zee Learn is one of the leading companies in the education sector.

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Idea Cellular plans to raise Rs 500 crore
Jan 12,2017

Idea Cellular announced that the Company is proposing to issue Unsecured Redeemable Non-Convertible Debentures (NCDs) amounting to Rs. 500 crores on private placement basis.

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