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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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Roto Pumps director resigns
Feb 09,2017

Roto Pumps announced that Vijoy Kumar, Independent Director of the Company, has resigned from Directorship of the Company with immediate effect due to some personal reasons vide his letter dated 09 February 2017 and the same has been accepted by the Board.

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Roto Pumps director resigns
Feb 09,2017

Roto Pumps announced that Vijoy Kumar, Independent Director of the Company, has resigned from Directorship of the Company with immediate effect due to some personal reasons vide his letter dated 09 February 2017 and the same has been accepted by the Board.

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Board of Trent appoints director
Feb 09,2017

Trent announced that the Board of Directors of the Company at its meeting held on 09 February 2017, have approved the appointment of Sonia Singh as an Additional Director (Non-Executive) of the Company. Sonia Singh is also appointed as an Independent Director of the Company for a second term of 5 years w.e.f. 03 March 2017, subject to the approval of the shareholders at the forthcoming Annual General Meeting of the Company.

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Board of Trent appoints director
Feb 09,2017

Trent announced that the Board of Directors of the Company at its meeting held on 09 February 2017, have approved the appointment of Sonia Singh as an Additional Director (Non-Executive) of the Company. Sonia Singh is also appointed as an Independent Director of the Company for a second term of 5 years w.e.f. 03 March 2017, subject to the approval of the shareholders at the forthcoming Annual General Meeting of the Company.

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IndusInd Bank allots 49,520 equity shares
Feb 09,2017

IndusInd Bank has allotted 49,520 (Forty Nine Thousand Five Hundred Twenty) equity shares of Rs. 10/- (Rupees Ten Only) each on 09 February 2017 to those grantees who had exercised their option under the Companys Employee Stock Option Scheme.

The said shares will rank pari-passu with the existing shares of the Company in all respect.

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IndusInd Bank allots 49,520 equity shares
Feb 09,2017

IndusInd Bank has allotted 49,520 (Forty Nine Thousand Five Hundred Twenty) equity shares of Rs. 10/- (Rupees Ten Only) each on 09 February 2017 to those grantees who had exercised their option under the Companys Employee Stock Option Scheme.

The said shares will rank pari-passu with the existing shares of the Company in all respect.

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Dune Mercantile appoints director
Feb 09,2017

Dune Mercantile announced that Maksud Khan has appointed as an additional Director of the Company with effect from 09 February 2017.

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Dune Mercantile appoints director
Feb 09,2017

Dune Mercantile announced that Maksud Khan has appointed as an additional Director of the Company with effect from 09 February 2017.

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Persistent Systems partners with MuleSoft
Feb 09,2017

Persistent Systems announced its partnership with MuleSoft that will help customers speed their Digital Transformation. Utilizing MuleSofts Anypoint Platform, Persistent will help organisations rapidly integrate valuable enterprise data locked in silos, to create new revenue channels, improve customer experience and drive innovation.

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Persistent Systems partners with MuleSoft
Feb 09,2017

Persistent Systems announced its partnership with MuleSoft that will help customers speed their Digital Transformation. Utilizing MuleSofts Anypoint Platform, Persistent will help organisations rapidly integrate valuable enterprise data locked in silos, to create new revenue channels, improve customer experience and drive innovation.

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TVS Electronics gets reaffirmation of ratings for bank facilities
Feb 09,2017

TVS Electronics announced that Brickwork Ratings India have vide their letter dated 07 February 2017 have reaffirmed the ratings for the Bank Loan facilities of the Company.

Long term - BWR BBB+; Stable Outlook
Short term - BWR A3+

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TVS Electronics gets reaffirmation of ratings for bank facilities
Feb 09,2017

TVS Electronics announced that Brickwork Ratings India have vide their letter dated 07 February 2017 have reaffirmed the ratings for the Bank Loan facilities of the Company.

Long term - BWR BBB+; Stable Outlook
Short term - BWR A3+

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Board of Moongipa Capital Finance announces change in CFO and company secretary
Feb 09,2017

The Board of Directors of Moongipa Capital Finance at its meeting held on 09 February 2017 transacted the following -

Approved resignation of Rakesh Jain as Company Secretary and appointed Kumkum Gupta as new Company Secretary.

Approved resignation of Vikas Sharma as CFO and appointed Bharat Kumar as CFO of the Company.

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Board of Moongipa Capital Finance announces change in CFO and company secretary
Feb 09,2017

The Board of Directors of Moongipa Capital Finance at its meeting held on 09 February 2017 transacted the following -

Approved resignation of Rakesh Jain as Company Secretary and appointed Kumkum Gupta as new Company Secretary.

Approved resignation of Vikas Sharma as CFO and appointed Bharat Kumar as CFO of the Company.

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Board of Talbros Engineering appoints COO
Feb 09,2017

Talbros Engineering announced that the Board of Directors of the company at its meeting held on 09 February 2017 has accepted the resignation of Tarun Talwar from the post of CEO and KMP with effect from 01 February 2017 and approved his appointment as Chief Operating Officer (COO) with immediate effect.

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