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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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Outcome of board meeting of Polo Hotels
Nov 16,2016

Polo Hotels announced that the Board of Directors of the Company at its meeting held on 14 November 2016 approved and allotted 88,88,889 equity shares of Rs 10 each at a premium of Rs1.25 per share to Promoters of the Company.

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Rupee plunges further
Nov 16,2016

Rupee settled lower at 68.0259/0410 per dollar on Wednesday (16 November 2016), versus its previous close of 67.7299/7800 per dollar.

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Inditrade Capital gets fresh SEBI Registration Certificate
Nov 16,2016

Inditrade Capital announced that a fresh SEBI Registration Certificate as a Stock Broker has been received pursuant to change in control and management in the Company.

The new Registration Number allotted is INZ000093831.

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Greenply Industries to be included in MSCI Global Small Cap Indexes
Nov 16,2016

Greenply Industries announced that MSCI has announced the changes to constituents for the MSCI Global Small Cap Indexes and as part of change, Greenply industries will be added to the said Index.

Change in constituents for the MSCI Global Small Cap Indexes will take place as of the close of 30 November 2016.

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Board of Riga Sugar Company appoints director
Nov 16,2016

Riga Sugar Company announced that following decision was taken at the meeting of the Board of Directors of the Company held on 10 November 2016.

- N.K.Parasramka has been appointed as Additional Director of the Company with immediate effect.

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Gujarat State Petronet announces change in directorate
Nov 16,2016

Gujarat State Petronet announced that the Company has nominated Anil Mukim, IAS as a Director on the Board of the Company. The appointment of Anil Mukim, IAS w.e.f 11 November 2016 was approved by the Board of Directors of the Company by passing Resolution by Circulation.

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Advanced Micronic Devices to announce September quarter results
Nov 16,2016

Advanced Micronic Devices announced that a Meeting of the Board of Directors of the Company will be held on 24 November 2016 inter alia to consider the un-audited Financial Results of the Company for the quarter and period ended 30 September 2016.

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Board of Manpasand Beverages to consider Q2 & HY results
Nov 16,2016

Manpasand Beverages announced that the Meeting of Board of Directors of the Company is scheduled to be held on 24 November 2016 inter alia, to consider the following business:-

To consider and approve Un-audited Financial Results along with Limited Review Report for the Second Quarter and Half year ended on 30 September 2016.

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Opto Circuits (India) to announce September quarter results
Nov 16,2016

Opto Circuits (India) announced that a Meeting of the Board of Directors of the Company will be held on 24 November 2016 inter alia to consider the un-audited Financial Results of the Company for the quarter and period ended September 30, 2016.

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Board of Seshasayee Paper & Boards approves change in directorate
Nov 16,2016

Seshasayee Paper & Boards announced that the Board of Directors of the Company at their meeting held on 04 November 2016, has appointed:

1. Md. Nasimuddin, IAS, Principal Secretary / Chairman & Managing Director, The Tamilnadu Industrial Investment Corporation, Chennai, as a Nominee Director of the Company in the place of Mrs Supriya Sahu, IAS and

2. Atulya Misra, IAS, Principal Secretary to Government, Environment and Forests Department, representing Government of Tamilnadu, as a Director of the Company in the place of Hans Raj Verma, IAS.

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Advance Metering Technology shifts registered office
Nov 16,2016

Advance Metering Technology announced that arising out of the proceedings of the Meeting of the Board of Directors of the Company held on 14 November 2016, the Company hereby intimate Shifting of the Registered Office of the Company from present address to the following location within the local limits of the city w.e.f. 01 December 2016:

New Registered Office Location:

15th Floor, Eros Corporate Tower, Nehru Place, New Delhi - 110019.

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Board of Ushdev International to consider financial results & proposal for stock split
Nov 16,2016

Ushdev International announced that the Board may also consider the split of the Equity shares of the Company from the face value of Rs. 10/- to a lower face value along with unaudited financial result at its meeting scheduled on 22 November 2016.

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Board of Lakshmi Energy & Foods to consider hiving off of Power Division
Nov 16,2016

Lakshmi Energy & Foods announced that a meeting of the Board of Directors of the Company is scheduled to be held on 21 November 2016, inter alia, to consider and approve the proposed hiving off of the Power Division (Energy Business) to its subsidiary - Lakshmi Green Power.

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Tamil Nadu Newsprint & Papers to consider September quarter results
Nov 16,2016

Tamil Nadu Newsprint & Papers announced that a meeting of the Board of Directors of the Company will be held on 29 November 2016, inter alia, to take on record the Unaudited Financial Results (Standalone) for the quarter and half year ended 30 September 2016.

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Almondz Global Securities intimates of receipt of Merchant Banking registration certification
Nov 16,2016

Almondz Global Securities announced that Almondz Global Securities has received the Certificate of permanent Registration in terms of SEBI (Merchant Bankers) Regulations, 1992 to carry on the activities as aMerchant Banker.

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