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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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GK Consultants will hold a meeting of the Board of Directors of the Company on 26 May 2017, to approve and take on record the Audited Financial Results for the Fourth Quarter and Financial Results for the financial year ended 31 March 2017.

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Baron Infotech will hold a meeting of the Board of Directors of the Company on 28 May 2017, to consider and take on record the Audited Financial Results for the quarter and financial year ended 31st March, 2017.

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Amrapali Capital & Finance Services to hold board meeting
May 19,2017

Amrapali Capital & Finance Services will hold a meeting of the Board of Directors of the Company on 25 May 2017, for consideration and Approval of Financial results for the quarter and year ended on 31st March,2017 along with Audit report.

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Sastasundar Ventures to hold board meeting
May 19,2017

Sastasundar Ventures will hold a meeting of the Board of Directors of the Company on 26 May 2017, to consider and approve the Audited Standalone and Consolidated Financial Results of the Company for the quarter and financial year ended 31st March, 2017.

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Texmo Pipes & Products will hold a meeting of the Board of Directors of the Company on 26 May 2017, to consider and take on record the Audited Financial Results for the quarter and year ended on 31st March, 2017.

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May 19,2017

Rodium Realty will hold a meeting of the Board of Directors of the Company on 26 May 2017, to consider, approve and take on record, among other items of business, the Standalone & Consolidated Audited Financial Results for the financial year ended March 31, 2017.

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KJMC Corporate Advisors (India) to hold board meeting
May 19,2017

KJMC Corporate Advisors (India) will hold a meeting of the Board of Directors of the Company on 27 May 2017, to consider the following business: 1. To approve Standalone and Consolidated Audited Financial Results of the Company for the quarter and Financial Year ended March 31, 2017.

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Eros International Media to hold board meeting
May 19,2017

Eros International Media will hold a meeting of the Board of Directors of the Company on 26 May 2017, to consider and approve the Audited Standalone and Consolidated Financial Results of the Company for the quarter and year ended on March 31, 2017 along with the statement of assets and liabilities as on that date and any other matter with permission of the Chair.

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May 19,2017

Satin Creditcare Network will hold a meeting of the Board of Directors of the Company on 26 May 2017, to approve the Audited (Standalone & Consolidated) financial results of the Company for the quarter/half-year/year ended March 31, 2017, and recommendation of Dividend on Preference Shares.

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JSW Energy to hold board meeting
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JSW Energy will hold a meeting of the Board of Directors of the Company on 20 May 2017, to consider raising of long term funds through the issuance of Bonds / Debentures.

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Automotive Axles hits 52-week high after strong Q4 results
May 19,2017

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

Meanwhile, the S&P BSE Sensex was up 174.42 points, or 0.57% at 30,609.21. The S&P BSE Small-cap index was up 132.67 points, 0.86% at 15,494.23.

High volumes were witnessed on the counter. On the BSE, 33,000 shares were traded on the counter so far as against the average daily volumes of 2,320 shares in the past one quarter. The stock had hit a high of Rs 803 so far during the day, which is also its 52-week high. The stock hit a low of Rs 737 so far during the day.

The stock had hit a 52-week low of Rs 582 on 22 December 2016. The stock had underperformed the market over the past one month till 18 May 2017, declining 4.28% compared with the Sensexs 3.81% rise. The scrip had, however, outperformed the market over the past one quarter advancing 8.05% as against the Sensexs 6.91% rise.

The small-cap company has equity capital of Rs 15.11 crore. Face value per share is Rs 10.

Automotive Axles manufactures drive axles, non-drive axles, front steer axles, specialty & defence axles and drum & disc brakes. It provides these products to the major domestic and global manufacturers of trucks & buses.

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IITL Projects to hold board meeting
May 19,2017

IITL Projects will hold a meeting of the Board of Directors of the Company on 29 May 2017, to consider and approve Audited Financial Results of the Company for the quarter/year ended March 31, 2017.

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Ajwa Fun World & Resort to hold board meeting
May 19,2017

Ajwa Fun World & Resort will hold a meeting of the Board of Directors of the Company on 30 May 2017, to consider the audited financial results for the 4th quarter/year ended on 31st March 2017, and any other business with the permission of the Chair.

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Salora International to hold board meeting
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Salora International will hold a meeting of the Board of Directors of the Company on 29 May 2017, to consider and approve Audited Financial Results of the Company for the 4th Quarter and financial year ended on 31st March, 2017.

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Rajesh Solvex will hold a meeting of the Board of Directors of the Company on 30 May 2017, to consider and approve Audited Financial Results of the Company for the fourth quarter and twelve Month ended on 31.03.2017.

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