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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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Approval of Industrial Parks in Andhra Pradesh
Aug 10,2017

Department of Industrial Policy and Promotion (DIPP) under Ministry of Commerce and Industry has approved two projects under GÿModified Industrial Infrastructure Upgradation Scheme (MIIUS) for development of industrial clusters at Hindupur andn++ Bobbili in the respective districts of Ananatapur and Vizianagaram of Andhra Pradesh. Details of the projects are given below:

Sl. No.Name of projectDate of ApprovalRs. in croreProject CostCentral GrantReleased central grant 1.Upgradation of Hindupur Growth Centre & IP Gollapuram, Anantpur District01.03.201654.2014.934.482.Upgradation of industrial Growth Centre, Bobbili, Vizianagaram District01.03.201630.618.682.60

The objective ofn++ the above projects is to provide quality and reliable infrastructure to industrial units located in these clusters; specifically these projects aim to providen++ road network, drainage, power and water supply networks and some other common services liken++ health centres, canteens, creches, dormitories, parking areas, etc. These projects are likely to be functional by 31st March, 2018.

These projectsn++ have employment potential of about 5500 persons (direct) and 8500 persons (indirect).

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MMTC gains after turnaround Q1 show
Aug 10,2017

The result was announced after trading hours yesterday, 9 August 2017.

Meanwhile, the S&P BSE Sensex was down 82.97 points, or 0.26% to 31,714.87.

On the BSE, 2.01 lakh shares were traded in the counter so far, compared with average daily volumes of 2.57 lakh shares in the past one quarter. The stock had hit a high of Rs 59.80 and a low of Rs 58.50 so far during the day. The stock hit a 52-week high of Rs 73.85 on 12 January 2017. The stock hit a 52-week low of Rs 40 on 9 November 2016.

The stock had underperformed the market over the past one month till 9 August 2017, falling 3.62% compared with 0.16% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 12.14% as against Sensexs 5.11% rise. The scrip had outperformed the market in past one year, rising 34.11% as against Sensexs 14.48% rise.

The mid-cap company has equity capital of Rs 100 crore. Face value per share is Re 1.

MMTCs net sales surged 125.7% to Rs 6320.08 crore in Q1 June 2017 over Q1 June 2016.

MMTC is the largest international trading company in India. Government of India (GoI) held 89.93% stake in MMTC (as per the shareholding pattern as on 30 June 2017).

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Goodyear India declines after poor Q1 numbers
Aug 10,2017

The result was announced after market hours yesterday, 9 August 2017.

Meanwhile, the S&P BSE Sensex was down 75.38 points, or 0.24% at 31,722.46. The S&P BSE Small-Cap index was down 149.98 points, or 0.96% at 15,484.52.

On the BSE, 8,252 shares were traded on the counter so far as against the average daily volumes of 19,818 shares in the past one quarter. The stock had hit a high of Rs 839 and a low of Rs 810 so far during the day. The stock had hit a record high of Rs 944.75 on 25 April 2017 and a 52-week low of Rs 525.50 on 12 August 2016.

The stock had underperformed the market over the past one month till 9 Aug 2017, declining 7.82% compared with the Sensexs 1.39% rise. The scrip had also underperformed the market over the past one quarter declining 1% as against the Sensexs 6.23% rise. The scrip had, however, outperformed the market over the past one year advancing 55.37% as against the Sensexs 13.22% rise.

The small-cap company has equity capital of Rs 23.07 crore. Face value per share is Rs 10.

Goodyear India is engaged in the manufacturing and trading of tires, tubes and flaps. The company supplies tires to a range of original equipment manufacturers.

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Board of Bharat Forge recommends bonus issue of 1:1
Aug 10,2017

The Board of Bharat Forge has recommended issue of Bonus Shares to holders of equity shares of the Company in the ratio of 1:1 (i.e. One bonus equity share of Rs.2/- each fully paid up for every one fully paid-up equity shares of Rs.2/- each held) subject to approval of the shareholders of the Company through postal ballot.

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Chambal Fertilisers & Chemicals delivers ship Ratna Shruti to buyer
Aug 10,2017

Chambal Fertilisers & Chemicals announced that pursuance of the Memorandum of Agreement dated 20 May 2017, the Company has delivered the ship - Ratna Shruti to the Campanella Shipping (Buyer) on 09 August 2017.

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Kavita Fabrics announces board meeting date
Aug 10,2017

Kavita Fabrics will hold a meeting of the Board of Directors of the Company on 14 August 2017.

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Satya Miners & Transporters announces board meeting date
Aug 10,2017

Satya Miners & Transporters will hold a meeting of the Board of Directors of the Company on 14 August 2017.

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Banas Finance schedules board meeting
Aug 10,2017

Banas Finance will hold a meeting of the Board of Directors of the Company on 14 August 2017.

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Gayatri Sugars to declare Quarterly Result
Aug 10,2017

Gayatri Sugars will hold a meeting of the Board of Directors of the Company on 14 August 2017.

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STG Lifecare to convene board meeting
Aug 10,2017

STG Lifecare will hold a meeting of the Board of Directors of the Company on 14 August 2017.

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Apex Buildsys schedules board meeting
Aug 10,2017

Apex Buildsys will hold a meeting of the Board of Directors of the Company on 14 August 2017.

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Kausambi Vanijya to conduct board meeting
Aug 10,2017

Kausambi Vanijya will hold a meeting of the Board of Directors of the Company on 14 August 2017.

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OCL Iron & Steel schedules board meeting
Aug 10,2017

OCL Iron & Steel will hold a meeting of the Board of Directors of the Company on 14 August 2017.

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Creative Merchants to convene board meeting
Aug 10,2017

Creative Merchants will hold a meeting of the Board of Directors of the Company on 14 August 2017.

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Ayepee Lamitubes announces board meeting date
Aug 10,2017

Ayepee Lamitubes will hold a meeting of the Board of Directors of the Company on 14 August 2017.

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