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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 Tanla Solutions approves conversion of warrants
May 19,2017

The Board of Directors of Tanla Solutions at its meeting held on 18 May 2017 has approved allotment of 19,68,310 equity shares of Re 1 each on conversion of warrants to the promoters.

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TD Power Systems jumps after strong Q4 results
May 19,2017

The announcement was made after market hours yesterday, 18 May 2017.

Meanwhile, the S&P BSE Sensex was up 238.82 points, or 0.78% to 30,673.61.

On the BSE, 50,000 shares were traded in the counter so far, compared with average daily volumes of 76,084 shares in the past one quarter. The stock had hit a high of Rs 262 and a low of Rs 251.20 so far during the day.

The stock hit a 52-week high of Rs 271 on 15 May 2017. The stock hit a record low of Rs 155 on 7 March 2017.

The stock had outperformed the market over the past one month till 18 May 2017, rising 12.78% compared with 3.74% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 54.74% as against Sensexs 6.91% rise.

The small-cap company has equity capital of Rs 33.24 crore. Face value per share is Rs 10.

TD Power Systems is one of the leading manufacturers of AC Generators in the world with products in the output range of 1 MW to 200 MW for prime movers, such as steam turbines, gas turbines, hydro turbines, diesel engines, gas and wind turbines.

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Outcome of board meeting of Rama Phosphates
May 19,2017

The Board of Directors of Rama Phosphates at its meeting held on 18 May 2017 has approved the appointment of H D Ramsinghani as Vice Chairman and Joint Managing Director for a period of three years with effect from 01 June 2017. The Board has recommended a dividend of Rs 1 per share for FY 2017, subject to approval of shareholders.

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Indian Hume Pipe hits record high after strong Q4 numbers
May 19,2017

The result was announced after market hours yesterday, 18 May 2017.

Meanwhile, the S&P BSE Sensex was up 265.56 points, or 0.87% at 30,700.35. The S&P BSE Small-cap index was up 186.04 points, 1.21% at 15,547.60.

High volumes were witnessed on the counter. On the BSE, 46,000 shares were traded on the counter so far as against the average daily volumes of 5,752 shares in the past one quarter. The stock had hit a high of Rs 470 so far during the day, which is also its record high. The stock hit a low of Rs 451.80 so far during the day.

The stock had hit a 52-week low of Rs 160.50 on 25 May 2016. The stock had outperformed the market over the past one month till 18 May 2017, advancing 5.06% compared with the Sensexs 3.81% rise. The scrip had, however, underperformed the market over the past one quarter advancing 3.97% as against the Sensexs 6.91% rise.

The small-cap company has equity capital of Rs 9.69 crore. Face value per share is Rs 2.

Indian Hume Pipe Companys board recommended a final dividend of Rs 2.40 per share for the financial year ended March 2017.

Indian Hume Pipe Company is engaged in the business of providing integrated water supply schemes including manufacturing, laying and jointing of pipelines of various pipe materials which provide infrastructure facility for development of water supply and irrigation projects.

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Kelvin Fincap to hold board meeting
May 19,2017

Kelvin Fincap will hold a meeting of the Board of Directors of the Company on 26 May 2017.

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Universal Credit & Securities to hold board meeting
May 19,2017

Universal Credit & Securities will hold a meeting of the Board of Directors of the Company on 26 May 2017.

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Jindal Cotex to hold board meeting
May 19,2017

Jindal Cotex will hold a meeting of the Board of Directors of the Company on 30 May 2017.

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Nagreeka Exports to hold board meeting
May 19,2017

Nagreeka Exports will hold a meeting of the Board of Directors of the Company on 25 May 2017.

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Ladderup Finance to hold board meeting
May 19,2017

Ladderup Finance will hold a meeting of the Board of Directors of the Company on 29 May 2017.

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Amit Securities to hold board meeting
May 19,2017

Amit Securities will hold a meeting of the Board of Directors of the Company on 30 May 2017.

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RR Securities to hold board meeting
May 19,2017

RR Securities will hold a meeting of the Board of Directors of the Company on 30 May 2017.

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GFL Financials India to hold board meeting
May 19,2017

GFL Financials India will hold a meeting of the Board of Directors of the Company on 26 May 2017.

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EPFO beneficiaries to get payment through electronic or digital fund transfer system
May 19,2017

The Ministry of Labour & Employment vide notification dated 4th May 2017 has provided for electronic or digital fund transfer / payment of EPF benefits, pension disbursement and insurance claim. For this purpose, suitable amendments have been made in all the three social security schemes administered by EPFO.

Such move is likely to benefit 4.5 crores EPF subscribers and around than 54 lakh pensioners. Now, payments will be made to the beneficiaries through electronic or digital fund transfer system only ensuring quick transfer of funds, easier tracking and reconciliation thereof.

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Great Eastern Shipping Company plans issue of NCDs upto Rs 150 crore
May 19,2017

Great Eastern Shipping Company plans to issue Unsecured Non-Convertible Debentures upto an amount not exceeding Rs. 150 crore by way of private placement. A meeting of the Debenture Issue Committee is scheduled to be held on Tuesday, 23 May 2017, to consider the proposal.

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Shalibhadra Finance to hold board meeting
May 19,2017

Shalibhadra Finance will hold a meeting of the Board of Directors of the Company on 31 May 2017.

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