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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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Future Consumer gets reaffirmation of credit ratings for bank facilities / NCDs
Dec 22,2016

Future Consumer announced that CARE has reaffirmed/ assigned the following ratings in respect of the Companys bank facilities and Non-Convertible Debentures issued by the Company -

Long term bank facilities (fund based Rs 240 crore) - CARE A; Stable (Reaffirmed)

Short term bank facilities (fund based Rs 20 crore) - CARE A1 (Reaffirmed)

Short term bank facilities (Non-fund based -Rs 40 crore) - CARE A1 (Reaffirmed)

Long /short term bank facilities (fund based Rs 40 crore) - CARE A; Stable/ CARE A1 (Reaffirmed)

Long term bank facilities (term loan Rs 27 crore) - CARE A; Stable (Assigned)

Non Convertible Debentures (Rs 100 crore) - CARE A; Stable (Reaffirmed)

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Karnataka Bank opens branch in Thane
Dec 22,2016

Karnataka Bank opened its 738th branch at Thakurli (East), Thane District on 22 December 2016.

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Raj Rayon Industries temporarily shuts down commercial production
Dec 22,2016

Raj Rayon Industries announced that the Companys commercial production has been temporarily shut down as sales has decreased considerably after demonetization and presently there is very less demand for our products. The plant will be restarted again once the situation improves.

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City Union Bank allots equity shares
Dec 22,2016

City Union Bank announced that pursuant to exercise of options by the eligible employees under City Union Bank Employees Stock Option Scheme 2008, the Remuneration and Compensation Committee of the Board of Directors at its meeting held on 22 December 2016, inter-alia considered and allotted 28,73,602 equity shares in the following manner at a face value of Re. 1/- each.

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Sanguine Media announces change in directorate
Dec 22,2016

Sanguine Media announced that the Company has appointed Akshay V. Nawale & Sanjay S Meena as additional director of the Company. The Board of Directors of the Company will meet on 30 December 2016 to appoint Managing Director of the Company in place of Kumar Raichand Madan, Managing Director of the Company who has expired on 08 October 2016.

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Kilburn Engineering secures new orders
Dec 22,2016

Kilburn Engineering has received new orders worth Rs 43.15 crore. These include an order for instrument & utility gas package for offshore platforms of ONGC worth Rs 16.99 crore.

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Titan Company drops after large bulk deal
Dec 22,2016

Meanwhile, the S&P BSE Sensex was down 294.86 points or 1.12% at 25,947.52

Bulk deal boosted volume on the scrip. On the BSE, 1.15 crore shares were traded on the counter so far as against the average daily volumes of 1.44 lakh shares in the past one quarter. The stock had hit a high of Rs 323.05 and a low of Rs 309 so far during the day.

The stock had hit a 52-week low of Rs 296.30 on 21 November 2016. The stock had hit a 52-week high of Rs 445 on 7 September 2016. The stock had outperformed the market over the past 30 days till 21 December 2016, rising 4.09% compared with the 1.08% rise in the Sensex. The scrip, however, underperformed the market in past one quarter, falling 22.94% as against Sensexs 8.80% decline.

The large-cap company has equity capital of Rs 88.78 crore. Face value per share is Re 1.

Titan Companys net profit rose 23.5% to Rs 180.76 crore on 0.86% decline in total income to Rs 2664.09 crore in Q2 September 2016 over Q2 September 2015.

Titan Companys main business lines are watches, jewellery and eyewear.

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Oberoi Realty bucks trend on bargain hunting
Dec 22,2016

Meanwhile, the BSE Sensex was down 286.83 points, or 1.09%, to 25,955.55.

On the BSE, so far 1.41 lakh shares were traded in the counter, compared with average daily volumes of 89,442 shares in the past one quarter. The stock had hit a high of Rs 310 and a low of Rs 302.50 so far during the day.

The stock hit a 52-week high of Rs 377.85 on 3 November 2016. The stock hit a 52-week low of Rs 210.15 on 12 February 2016.

Shares of Oberoi Realty fell 7.52% in three trading sessions to settle at Rs 303.95 yesterday, 21 December 2016, from its close of Rs 328.65 on 16 December 2016.

On a consolidated basis, net profit of Oberoi Realty rose 12.45% to Rs 83.72 crore on 32.62% rise in net sales to Rs 250.85 crore in Q2 September 2016 over Q2 September 2015.

Oberoi Realty is Indias leading real estate development company, headquartered in Mumbai, focused on premium developments in the residential, office space, retail, hospitality and social infrastructure verticals.

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Board of Ishan Dyes & Chemicals to consider bonus issue
Dec 22,2016

Ishan Dyes & Chemicals announced that the meeting of the Board of Directors of the Company will be held on 29 December 2016, inter alia, to consider, discuss, recommend and approve the following:

1. Subject to shareholders approval to increase in Authorized Share Capital of the Company and consequently alteration in the Capital Clause of the Memorandum of Association of the Company.

2. Proposal for Issue of Bonus Equity Shares to the existing Shareholders of the Company.

3. Other related matters including fixing day and date for Extra Ordinary General Meeting of the Shareholders of the Company OR conducting of Postal Ballot.

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Metal shares witness selling pressure
Dec 22,2016

Hindalco Industries (down 4.38%), Vedanta (down 4.27%), National Aluminium Company (down 3.27%), Jindal Steel & Power (down 3.14%), Steel Authority of India (down 3.12%), Tata Steel (down 2.94%), Hindustan Copper (down 2.75%), NMDC (down 2.22%), Hindustan Zinc (down 2.21%), Bhushan Steel (down 2.17%) and JSW Steel (down 1.3%), edged lower.

The S&P BSE Metal index was down 2.83% at 10,015.33. It underperformed the Sensex, which was down 0.94% at 25,996.10.

The S&P BSE Metal index had outperformed the market over the past 30 days till 21 December 2016, rising 2.96% compared with the 1.08% rise in the Sensex. The index had also outperformed the market in past one quarter, rising 4.97% as against Sensexs 8.80% decline.

Meanwhile, copper price edged lower in the global commodities markets. High Grade Copper for March 2017 delivery was currently down 0.78% at $2.4775 per pound on the COMEX.

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Board of Inditalia Refcon to consider December quarter results
Dec 22,2016

Inditalia Refcon announced that the Board Meeting of the Company for approval of Financial results and Investor Grievance Report for the Quarter ended 31 December 2016 shall be held on 02 January 2017.

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Volumes jump at Centrum Capital counter
Dec 22,2016

Centrum Capital clocked volume of 2.22 crore shares by 14:22 IST on BSE, a 1050.36-times surge over two-week average daily volume of 21,000 shares. The stock jumped 8.99% to Rs 29.10.

United Breweries notched up volume of 12.06 lakh shares, a 133.76-fold surge over two-week average daily volume of 9,000 shares. The stock lost 3.06% to Rs 758.

Titan Company saw volume of 1.15 crore shares, a 107.34-fold surge over two-week average daily volume of 1.08 lakh shares. The stock dropped 2.4% to Rs 311.40.

Shriram Transport Finance Company clocked volume of 25.55 lakh shares, a 70.90-fold surge over two-week average daily volume of 36,000 shares. The stock fell 2.14% to Rs 792.

Jaiprakash Power Ventures saw volume of 1.69 crore shares, a 57.56-fold rise over two-week average daily volume of 2.95 lakh shares. The stock declined 2.29% to Rs 3.84.

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HCL Technologies recognised as Leader for Internet of Things Services
Dec 22,2016

HCL Technologies announced that Everest Group named IoT WoRKSTM by HCL among leaders for IoT services in its recent report titled n++Internet of Things Services - PEAK MatrixTM Assessment and Market Trendsn++.

16 IoT services providers were analyzed for this study, and the assessment was based on Everest Groups annual RFI process for the calendar year 2016, interaction with IoT service providers, client reference checks, and assessment of the IoT services market

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Coal India announces change in directorate
Dec 22,2016

Coal India announced that Ministry of Coal vide office order dated 19 December 2016 has appointed C. K. Dey, Director(Finance), CIL on the Board of CMPDIL one of the Subsidiary companies of Coal India and Shekhar Saran, Director (Tech.), CIL (Addl. charge) on the Board of BCCL one of the Subsidiary companies of Coal India as a part time Director with immediate effect and until further orders vice N. Kumar, Ex-Director(Tech.), CIL.

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Agenda for board meeting of Arnav Corporation
Dec 22,2016

Arnav Corporation announced that the meeting of the Board of Directors of the Company is scheduled to be held on 03 January 2017, inter alia, to transact the following business :

1. Appointment of New Director on the Board of the Company;

2. Shift Registered Office of the Company within the local municipal limit;

3. To consider, expansion into Broadcasting Industry.

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