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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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Ardi Investments & Trading Company announces board meeting date
Aug 07,2017

Ardi Investments & Trading Company will hold a meeting of the Board of Directors of the Company on 14 August 2017, to consider and approve, inter alia, the unaudited Financial Results of the Company for the quarter ended 30th June, 2017.

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Dynamatic Technologies bags contract for supply of Front Fuselage Assembly
Aug 07,2017

Dynamatic Technologies has been chosen as the supplier for the Front Fuselage assembly from HAL - LCA Division.

This LIGHT COMBAT AIRCRAFT (LCA) project is a long term contract which includes manufacturing of detail parts & Assemblies along with the jigs & fixture requirements.

Dynamatic is already a single source for the Sukhoi program on the major control surfaces. With the HAL-LCA program, Dynamatic will be providing expertise on the Fuselage as well.

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Raideep Industries to conduct board meeting
Aug 07,2017

Raideep Industries will hold a meeting of the Board of Directors of the Company on 12 August 2017, to approve the unaudited financial results of the Company for the quarter ended June 30, 2017

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Suryaamba Spinning Mills to conduct AGM
Aug 07,2017

Suryaamba Spinning Mills announced that the Annual General Meeting (AGM) of the company will be held on 2 September 2017.

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Crane Infrastructure to announce Quarterly Result
Aug 07,2017

Crane Infrastructure will hold a meeting of the Board of Directors of the Company on 12 August 2017, to consider & Approve the Un Audited Financial results For the Quarter Ended On 30-06-2017

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Strides Shasun schedules board meeting
Aug 07,2017

Strides Shasun will hold a meeting of the Board of Directors of the Company on 11 August 2017.

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Advik Capital to convene board meeting
Aug 07,2017

Advik Capital will hold a meeting of the Board of Directors of the Company on 11 August 2017, to approve the un-audited Financial results of the Company for Quarter ended 30th June, 2017

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Oasis Tradelink to hold board meeting
Aug 07,2017

Oasis Tradelink will hold a meeting of the Board of Directors of the Company on 14 August 2017, to approve the unaudited Financial Results of the Company for the quarter ended 30th June, 2017.

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Electrosteel Steels to hold board meeting
Aug 07,2017

Electrosteel Steels will hold a meeting of the Board of Directors of the Company on 12 August 2017, to consider the un-audited financial results of the Company for the quarter ended June 30, 2017

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Relaxo Footwears jumps after Q1 results
Aug 07,2017

The result was announced on Saturday, 5 August 2017.

Meanwhile, the S&P BSE Sensex was down 52.28 points or 0.16% at 32,273.13. The S&P BSE Small-Cap index rose 165.97 points or 1.04% at 16,092.60.

On the BSE, 7,146 shares were traded on the counter so far as against the average daily volumes of 4,343 shares in the past one quarter. The stock had hit a high of Rs 495.45 and a low of Rs 457 so far during the day. The stock had hit a 52-week high of Rs 554.90 on 4 July 2017 and a 52-week low of Rs 373 on 9 November 2016.

The stock had underperformed the market over the past one month till 4 August 2017, sliding 16.43% compared with the Sensexs 3.57% rise. The stock had also underperformed the market over the past one quarter, declining 7.15% as against the Sensexs 7.3% rise. The scrip had also underperformed the market over the past one year, sliding 4.14% as against the Sensexs 16.64% rise.

The small-cap company has equity capital of Rs 12.01 crore. Face value per share is Rs 1.

Relaxo Footwears earnings before interest, taxation, depreciation and amortization (EBITDA) rose 1% to Rs 71 crore in Q1 June 2017 over Q1 June 2016.

The companys Managing Director Ramesh Kumar Dua said that with a strong start of the year, the management is confident of a better future performance on back of strong distribution reach created over the years, well balanced product portfolio addressing larger audience base and its focus on continuously improving manufacturing efficiencies.

Relaxo Footwears is a footwear maker.

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RDB Rasayans to discuss results
Aug 07,2017

RDB Rasayans will hold a meeting of the Board of Directors of the Company on 14 August 2017, to consider and approve the Unaudited Financial Results of the Company for the quarter ended 30th June, 2017.

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Eros International Media to declare Quarterly Result
Aug 07,2017

Eros International Media will hold a meeting of the Board of Directors of the Company on 11 August 2017, to consider and approve the Unaudited Standalone and Consolidated Financial Results of the Company for the quarter and three months ended on June 30, 2017.

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Tarmat announces board meeting date
Aug 07,2017

Tarmat will hold a meeting of the Board of Directors of the Company on 14 August 2017, to consider and fix the date, time and venue of 32nd Annual General Meeting, approval of Boards Report, Notice of Annual General Meeting

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BFL Developers to conduct AGM
Aug 07,2017

BFL Developers announced that the Annual General Meeting (AGM) of the company will be held on 11 September 2017.

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Baron Infotech to declare Quarterly Result
Aug 07,2017

Baron Infotech will hold a meeting of the Board of Directors of the Company on 16 August 2017, to consider, approve and take on record the Unaudited Financial Results for the Quarter ended 30th June, 2017

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