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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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Orient Bell to acquire 26% stake in a ceramic tile manufacturing company
Aug 10,2017

Orient Bell has entered into an Agreement with a Ceramic Tile Manufacturing Company at Morbi (Gujarat) and its Promoters to acquire its equity stake of 26%.

The said company is setting up a new plant to manufacture about 5.2 million square meters of wall tiles per annum at Morbi (Gujarat) and likely to start Commercial Production by the end of March 2018.

This Strategic stake will give complete access to our company to procure and sell the substantial quantity of tiles to be manufactured by the said company.

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Board of Tasty Bite Eatables appoints director
Aug 10,2017

Tasty Bite Eatables announced that the Board of Directors of the Company at its meeting held on 10 August 2017 has approved the appointment of Sohel Shikari as Alternate Director to Ashok Vasudevan w.e.f. 11 August 2017

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Shankara Building Products opens its 113th store
Aug 10,2017

Shankara Building Products announced the opening of its 113thstore under the Shankara Buildpro brand , Jigani, Bangalore-560105.

With this new store, our retail presence spans across a total area of 4,04,833 sq. ft.

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Board of Manpasand Beverages approves bonus issue of 1:1
Aug 10,2017

Manpasand Beverages announced that the Board of Directors of the Company at its meeting held on 10 August 2017 has recommended bonus issue of 1:1.

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Equal pay for equal work in CPSUs
Aug 10,2017

Central Public Sector Enterprises (CPSEs) are under the administrative control of their respective Ministries / Departments and CPSEs are required to follow the various statutory provisions / Court orders / Government instructions including instructions on wage related issues of various categories of employees, wherever applicable. However, the responsibility to monitor the implementation of above said statutory provisions / court orders / Government instructions vests with the Board of CPSEs and the concerned administrative Ministry / Department. As such, no centralized information in this regard is maintained by Department of Public Enterprises (DPE) and accordingly no status report on implementation of Supreme Court verdict on equal pay for equal work with reference to the contractual and temporary employees in CPSEs is also maintained in Department of Public Enterprises.

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Bhel drops after reporting marginal rise in bottom line in Q1
Aug 10,2017

The result was announced during market hours today, 10 August 2017.

Meanwhile, the S&P BSE Sensex was down 169.04 points or 0.53% at 31,628.80.

On the BSE, 11.06 lakh shares were traded on the counter so far as against the average daily volumes of 6.57 lakh shares in the past one quarter. The stock had hit a high of Rs 135.15 and a low of Rs 126.55 so far during the day. The stock had hit a 52-week high of Rs 182.65 on 25 April 2017 and a 52-week low of Rs 116.15 on 27 December 2016.

The stock had underperformed the market over the past one month till 9 August 2017, sliding 1.59% compared with the Sensexs 1.39% rise. The stock had also underperformed the market over the past one quarter, declining 24.69% as against the Sensexs 6.23% rise. The scrip had also underperformed the market over the past one year, declining 4.65% as against the Sensexs 13.22% rise.

The large-cap company has equity capital of Rs 489.52 crore. Face value per share is Rs 2.

Bharat Heavy Electricals (Bhel) has an outstanding order book position of Rs 101380 crore as at 30 June 2017.

The Government of India currently holds 63.06% stake in Bhel (as per the shareholding pattern as on 31 March 2017).

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Guidelines for revised integrated housing scheme for workers
Aug 10,2017

Ministry of Labour & Employment has released guidelines for the Revised Integrated Housing Scheme (RIHS), 2016 for workers.

The scheme provides housing subsidy of Rs. 1,50,000/- per worker for construction of house to be paid in three installments directly into the bank account of the beneficiaries.

The workers engaged in Beedi/Iron Ore Mines, Manganese Ore & Chrome Ore Mines (IOMC)/Limestone Ore Mines, Dolomite Ore Mines (LSDM) /Mica Mines and Cine Industries, registered with the Labour Welfare Organisation (LWO).

Ministry provides housing subsidy to the workers for construction of houses. The fund allocated for this purpose in the Financial Year 2017-18 is Rs. 60,95,54,000/- and during current year 8000 houses are proposed to be sanctioned. The construction of houses in next financial year depends upon the allocation of budget.

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Board of Varun Beverages recommends dividend
Aug 10,2017

Varun Beverages announced that the Board of Directors of the Company at its meeting held on 9 August 2017, inter alia, have recommended the dividend of Rs 2.5 per equity Share (i.e. 25%) , subject to the approval of the shareholders.

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Alicon Castalloy to convene AGM
Aug 10,2017

Alicon Castalloy announced that the Annual General Meeting (AGM) of the company will be held on 26 September 2017.

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DE Nora India to conduct AGM
Aug 10,2017

DE Nora India announced that the Annual General Meeting (AGM) of the company will be held on 27 September 2017.

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Mac Charles (India) schedules AGM
Aug 10,2017

Mac Charles (India) announced that the Annual General Meeting (AGM) of the company will be held on 25 September 2017.

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Board of Accelya Kale Solutions recommends final dividend
Aug 10,2017

Accelya Kale Solutions announced that the Board of Directors of the Company at its meeting held on 9 August 2017, inter alia, have recommended the final dividend of Rs 40 per equity Share (i.e. 400%), subject to the approval of the shareholders.

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Centrum Capital rises on buying from ICICI Prudential MF
Aug 10,2017

Meanwhile, the S&P BSE Sensex was down 107.96 points or 0.34% at 31,689.88. The S&P BSE Small-Cap index fell 157.89 points or 1.01% at 15,476.61.

On the BSE, 38.52 lakh shares were traded on the counter so far as against the average daily volumes of 17.75 lakh shares in the past one quarter. The stock had hit a high of Rs 61.95 and a low of Rs 58.80 so far during the day. The stock had hit a record high of Rs 62.70 on 9 August 2017 and a 52-week low of Rs 20.10 on 25 August 2016.

The stock had outperformed the market over the past one month till 9 August 2017, advancing 22.76% compared with the Sensexs 1.39% rise. The stock had also outperformed the market over the past one quarter, gaining 18.55% as against the Sensexs 6.23% rise. The scrip had also outperformed the market over the past one year, advancing 155.65% as against the Sensexs 13.22% rise.

The small-cap company has equity capital of Rs 41.60 crore. Face value per share is Rs 1.

Centrum Capitals net profit jumped 1113.1% to Rs 30.45 crore on 382.3% growth in total income to Rs 99.17 crore in Q4 March 2017 over Q4 March 2016.

Centrum Capital is a Sebi registered category I merchant banker. It has expertise across equity & debt spectrum with capabilities in equity capital markets, M&A advisory, corporate finance & advisory, primary & secondary debt placement, project finance and corporate debt restructuring. Its retail arm provides integrated solutions for private wealth management, portfolio management, stock broking and foreign exchange.

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Incap to convene AGM
Aug 10,2017

Incap announced that the Annual General Meeting (AGM) of the company will be held on 23 September 2017.

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AVI Polymers to convene board meeting
Aug 10,2017

AVI Polymers will hold a meeting of the Board of Directors of the Company on 14 August 2017, to consider and approve the unaudited Financial Results for the quarter ended on 30th June, 2017

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