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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 Panasonic Carbon India Company to consider Q3 results
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Panasonic Carbon India Company announced that a meeting of the Board of Directors of the Company is scheduled to be held on 31 January 2017, inter alia, to consider and approve the unaudited financial results for the third quarter ended 31 December 2016.

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Rupee tumbles
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Rupee closed lower below 68-mark at 68.20/21 per dollar on Monday (09 January 2017), versus its previous close of 67.9509/9700 per dollar.

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Torrent Power to announce Q3 results
Jan 09,2017

Torrent Power announced that a meeting of the Board of Directors of the Company is scheduled to be held on 09 February 2017, inter alia, to consider the unaudited Financial Results for the quarter and nine months ended 31 December 2016(Q3).

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Cold wave spell over plains of northwest India
Jan 09,2017

With the eastward movement of the current Western Disturbance as an upper air cyclonic circulation lying over north Pakistan & neighbourhood, dry northwesterly cold winds at lower & middle levels very likely to prevail over plains of northwest India from 10th night to 13th January morning.

Under these circumstances, the prevailing minimum temperatures over plains of northwest India are very likely to fall further by 2-4n++C till 13th morning.

Cold Wave Warning:

n++ Cold wave at a few places with severe cold wave conditions at isolated places are most likely to prevail over Punjab, Haryana and northern parts of Rajasthan from tomorrow, the 10th night to 13th morning.

n++ Cold wave conditions at isolated places are also most likely to prevail over West Uttar Pradesh from 11th morning to 13th morning.

Ground Frost Warning:

n++ Considering the trends in minimum temperatures from 10th morning to 13th morning, ground frost conditions are also very likely to occur at isolated pockets over Punjab, Haryana and north Rajasthan during the same period.

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Board of Lakshmi Vilas Bank to consider Q3 results
Jan 09,2017

Lakshmi Vilas Bank announced that a meeting of Board of Directors is scheduled to be held on 19 January 2017, to consider the Un-Audited Financial Results of the Bank for the Third Quarter ended 31 December 2016.

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Board of SVC Superchem to consider December quarter results
Jan 09,2017

SVC Superchem announced that the 136th Meeting of the Board of Directors of the Company will be held on 25 January 2017 at 2.30 P.M, inter alia, to consider and take on record status of the project for the quarter ended 31 December, 2016.

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Salzer Electronics allots equity shares
Jan 09,2017

Salzer Electronics announced that the Sub-Committee of the Board at its Meeting held on 08 January 2017 approved the allotment of 3,61,000 Equity Shares of Rs. 10/- each with a premium of Rs. 241.45 per share to the following allottees forming part of the Promoters Group, upon conversion of similar quantum of share warrants issued at price of Rs. 251.45 per warrant under Chapter VII (Preferential Issue) of SEBI (Issue of Capital and Disclosure Requirements) Regulations 2009.

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Dynamic Archistructures to announce Q3 results
Jan 09,2017

Dynamic Archistructures announced that a meeting of Board of Directors of the Company will be held on 23 January 2017, inter alia, to consider and approve Unaudited Financial Results of the Company for the Third Quarter ended on 31 December 2016.

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Board of Yes Bank to consider Q3 results
Jan 09,2017

Yes Bank announced that a meeting of the Board of Directors of the Bank will be held on 19 January 2017, inter alia, to consider and approve the Unaudited Financial Results of the Bank for the quarter and nine months ended 31 December 2016 (Q3).

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Board of Ahluwalia Contracts (India) consider preferential issue of equity shares
Jan 09,2017

The Board of Directors of Ahluwalia Contracts (India) at its meeting held on 09 January 2017 decided for preferential allotment of equity shares to one of the promoter of the company for a value not exceeding Rs 30 crore.

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Bombay Potteries & Tiles to announce December quarter results
Jan 09,2017

Bombay Potteries & Tiles announced that the Board of Directors meeting will be held on 31 January 2017 to consider the unaudited results of the Company for the quarter ended 31 December 2016.

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Board of Kaira Can Company to consider Q3 and 9M results
Jan 09,2017

Kaira Can Company announced that the meeting of the Board of Directors of the Company will be held on 27 January 2017, inter alia, to consider the following:

- Un-Audited Financial Results of the Company for the Third quarter and Nine months ended 31 December 2016.

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Board of The Ramco Cements to consider Q3 results
Jan 09,2017

The Ramco Cements announced that the Companys Board Meeting will be held on 07 February 2017, inter alia, to consider the Unaudited Financial Results for the quarter and nine months ending 31 December 2016 (Q3).

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Chemo Pharma Laboratories to announce Q3 results
Jan 09,2017

Chemo Pharma Laboratories announced that the Meeting of the Board of Directors of the Company will be held on 23 January 2017, to transact the following business:

1. To consider and approve the Un-Audited Financial Results for the quarter ended 31 December 2016.

2. To place and take on record the Limited Review Report on Un-Audited Financial Results for the quarter ended 31 December 2016.

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FPIs step-up selling
Jan 09,2017

Foreign portfolio investors (FPIs) sold stocks worth a net Rs 316.62 crore into the secondary equity markets on 6 January 2017, higher than their net outflow of Rs 39.14 crore during the preceding trading session on 5 January 2017. The net outflow of Rs 316.62 crore on 6 January 2017 was a result of gross purchases of Rs 3510.82 crore and gross sales of Rs 3827.44 crore. On that day, the Sensex fell 119.01 points or 0.44% to settle at 26,759.23, its lowest closing level since 4 January 2017.

There was a net outflow of Rs 1.88 crore from the category primary market & others on 6 January 2017, which was a result of gross purchases of Rs 0.20 crore and gross sales of Rs 2.08 crore.

FPIs have sold stocks worth a net Rs 2469.24 crore in January 2017 so far (till 6 January 2017). They sold stocks worth a net Rs 8960.36 crore into the secondary equity markets in December 2016. FPIs had purchased shares worth a net Rs 12094.42 crore from the secondary equity markets in calendar year 2016.

There has been a net outflow of Rs 153.74 crore from FPIs from the category primary market & others in January 2017 so far (till 6 January 2017). There was a net inflow of Rs 784.07 crore from FPIs into the category primary market & others in December 2016. The net inflow from FPIs into category primary markets & others had totaled Rs 8471.76 crore in calendar year 2016.

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