Friday, 22 September 2017

Reliance Home Finance Locked At 5% Upper Circuit

The stock traded with volumes of 6.24 lakh shares on the National Stock Exchange.

The company was hived off from the umbrella of Reliance Capital with September 6 as record date. As part of the process, investors must have received one share of Reliance Home Finance for every share of Reliance Capital held.

The move is expected to unlock value for the existing shareholders of the firm, Reliance Capital said in a statement.

After the demerger, Reliance Capital will continue to hold a 51 percent stake in Reliance Home Finance.

The transfer was earlier approved by an overwhelming majority of 99.59 per cent votes in favour of the scheme of arrangement at the Tribunal-convened general shareholders meeting held in July.

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The Reliance Home Finance Scrip Made A Stellar Debut In Trade Today

The Reliance Home Finance scrip made a stellar debut in trade today.

"The company is looking to grow is loan book at 50 percent CAGR over the next three-to-four years," Ravindra Sudhalkar, CEO, Reliance Home Finance said in an interview to CNBC-TV18.

He further said it is looking to maintain its net interest margin at 3.5 percent and grow its housing finance business to 60 percent by FY20.

The housing finance company is targeting return of assets of 1.5 percent by FY20, he added.

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Thursday, 21 September 2017

Equity Benchmarks Slipped Into Red In Morning Trade As The Sensex

Equity benchmarks slipped into red in morning trade as the Sensex fell 173.37 points to 32,227.14 and the Nifty dropped 58.50 points to 10,082.65.

The market breadth was weak as about two shares declined for every share rising on the BSE.

The drug firm informed exchanges that it has received an establishment inspection report from the US FDA, for Formulation Srikakulam Plant Unit II, Andhra Pradesh.

The audit of this facility by the US Food and Drug Administration had completed with zero observations on May 25.

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Stocks In The News: RIL, SBI, ITC, Rel Cap, SMS Pharma, Om Metal

CSL Finance
-Aadi Financials Advisors have been allotted 3.8 lakh shares via preferential allotment
-Akash Bhansali is one of the directors

-Gets letter of intent for Rs 3,200 crore project in Mumbai from Finance Ministry
-To develop a residential-cum-office complex in Mumbai

-To raise up to USD 39 million with upside option up to USD 54.5 million via QIP
-Granules sets floor price at Rs 121.25 per share

Reliance Industries: Reuters
-Reliance plans to expand capacity at Jamnagar oil refiner complex by 40 percent
-Reliance Industries plans to expand Jamnagar capacity to 2 mbpd by 2030

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Wednesday, 20 September 2017

Nifty Midcap Was Up 0.4 Percent, Outperforming Benchmarks

Tata Motors, ICICI Bank, BPCL, Cipla, Coal India, Ambuja Cements, NTPC and Wipro were also under pressure in early trade.

Reliance Industries rallied 4 percent, followed by L&T, ONGC, HDFC Bank, ITC, Tata Power and Yes Bank.

Nifty Midcap was up 0.4 percent, outperforming benchmarks.

JK Tyre, Apollo Tyres, Ceat, Divis Labs, Kamat Hotels, Adani Transmission, Bombay Dyeing, HEG, Graphite India, Goa Carbon, Rain Industries, Shreyas Shipping and Cadila Healthcare gained up to 10 pecent.

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Equity Benchmarks Opened Mildly Higher On Wednesday

Equity benchmarks opened mildly higher on Wednesday, led by support from index heavyweight Reliance Industries.

The 30-share BSE Sensex was up 63.74 points at 32,466.11 and the 50-share NSE Nifty gained 11.90 points at 10,159.45.

Telecom stocks - Bharti Airtel, Idea Cellular and Reliance Communications fell 3-6 percent after telecom regulator TRAI slashed mobile call connection charge to 6 paise per minute from 14 paise currently, effective October 1.

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Friday, 15 September 2017

Ujaas Energy Rises 10% On Orders Win From Oil India

Share price of Ujaas Energy advanced 10 percent intraday Friday on the back orders win.

The company has received letter of award of contract from WBREDA for installation and commissioning of 150 rooftop grid connected solar PV power plants each in array capacity of 10Kwp at various locations of West Bengal.

The company also received letter of award from Oil India for EPC contract for solar energy generation project of 500 KW at pump station of Oil India at Jorhat in the state of Assam.

It has received letter of allocation from SECI for an aggregate capacity of 20.03 MW for implementation of grid connected rooftop solar PV system scheme for government building in different states/union territory of India.

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