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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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Indias crude oil production rises 0.7% in May 2017
Jun 23,2017

Indias crude oil production rose 0.7% to 3.10 million tonnes (mt) in May 2017 over May 2016. Crude oil output of ONGC increased 2.5% to 1.93 mt, while that of Oil India also improved 6.1% to 0.29 mt. ONGCs offshore output moved up 2.1% to 1.42 mt, while onshore production increased 3.6% to 0.51 mt. However, the crude oil production of private and joint venture (JV) companies dipped 4.5% to 0.88 mt in May 2017.

Crude oil output rose 0.1% to 6.04 mt in April-May period of the fiscal year ending March 2018 (April-May 2017), snapping 2.8% fall recorded in the corresponding period of last year. Output of ONGC rose 2.5% to 3.78 mt, while that of Oil India moved up 5.3% to 0.56 mt. However, the crude oil production of private companies fell 6.5% to 1.70 mt in April-May 2017 over April-May 2016.

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Bharat Heavy Electricals records 14% growth in intellectual capital in FY 2017
Jun 23,2017

Bharat Heavy Electricals has recorded nearly 14% growth in its intellectual capital in FY 2016-17. During the year, a recorded 508 patents and copyrights were filed by the Company. With this, the Companys intellectual capital has gone up to 3915 patents and copyrights filed. During the period, Bhel has invested Rs 794 crore on R&D initiatives, which was 2.75% of its turnover.

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Shriram Transport Finance Company allots NCDs aggregating Rs 50 crore
Jun 23,2017

Shriram Transport Finance Company has allotted 500 Secured Redeemable Rated Listed Non-Convertible Debenture of face value of Rs.10,00,000/- (Rupees Ten Lakh only) each, aggregating to Rs. 50 crore on private placement basis.

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Hind Aluminium Industries announces resignation of director
Jun 23,2017

Hind Aluminium Industries announced that Narayan Das Mundhra, has resigned from the office of Independent Director of the Company due to his pre-occupation.

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Board of Indian Acrylics approves change in directorate
Jun 23,2017

The Board of Indian Acrylics approved the following changes in directorate -

Appointment of Raja Shivdev Inder Singh as Independent Director in place of Prof. Dr B B Tandon with effect from 01 July 2017 for a period of 5 years subject to approval of shareholders.

Nomination of Sanjeev Bajaj in place of Satish Dua.

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Nirav Commercials announces appointment of directors
Jun 23,2017

Nirav Commercials has been appointed Navinchandra Shah and Narayan Das Mundhra as Independent Directors of the Company & they will hold office as Independent Director upto the date of ensuing Annual General Meeting of the Company.

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B & A Packaging India announces resignation of CFO
Jun 23,2017

B & A Packaging India announced that Siddhartha Gupta has resigned from the post of Chief Financial Officer of the Company with effect from 22 June 2017.

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Mahindra & Mahindra Financial Services allots NCDs aggregating Rs 125 crore
Jun 23,2017

Mahindra & Mahindra Financial Services announced that the meeting of the duly authorised Committee was held on 23 June, 2017 approving the allotment of Secured Redeemable Non-Convertible Debentures (NCDs) of the face value of Rs. 10,00,000 each, at par, aggregating to Rs. 125 crore.

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Balkrishna Paper Mills to hold AGM
Jun 23,2017

Balkrishna Paper Mills announced that the 4th Annual General Meeting (AGM) of the company will be held on 19 July 2017.

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Ingersoll-Rand (India) to hold AGM
Jun 23,2017

Ingersoll-Rand (India) announced that the Annual General Meeting (AGM) of the company will be held on 3 August 2017.

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FPIs in buying mode
Jun 23,2017

Foreign portfolio investors (FPIs) bought stocks worth a net Rs 226.02 crore from the secondary equity markets on 22 June 2017, compared with net outflow of Rs 78.14 crore on 21 June 2017. On that day, the Sensex had risen 7.10 points or 0.02% to settle at 31,290.74, its highest closing level since 20 June 2017.

The net inflow of Rs 226.02 crore on 22 June 2017 was a result of gross purchases of Rs 6354.56 crore and gross sales of Rs 6128.54 crore.

There was a net inflow of Rs 282.70 crore into the category primary market & others on 22 June 2017, which was a result of gross purchases of Rs 283.79 crore and gross sales of Rs 1.09 crore.

FPIs have purchased stocks worth a net Rs 1395.23 crore from the secondary equity markets in June 2017 so far (till 22 June 2017). FPIs had bought stocks worth a net Rs 2807.24 crore in May 2017.

FPIs have purchased shares worth a net Rs 39044.62 crore from the secondary equity markets in calendar year 2017 so far (till 22 June 2017). They had purchased shares worth a net Rs 12094.42 crore from the secondary equity markets in calendar year 2016.

FPIs have bought stocks worth a net Rs 1887.12 crore from the category primary market & others in June 2017 so far (till 22 June 2017). FPIs had purchased stocks worth a net Rs 4904.17 crore from the category primary market & others in May 2017.

FPIs have purchased shares worth a net Rs 13975.21 crore from the category primary markets & others in calendar year 2017 so far (till 22 June 2017). The net inflow from FPIs into the category primary markets & others had totaled Rs 8471.76 crore in calendar year 2016.

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Shivalik Rasayan to hold EGM
Jun 23,2017

Shivalik Rasayan announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 17 July 2017 .

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Artson Engineering to hold board meeting
Jun 23,2017

Artson Engineering will hold a meeting of the Board of Directors of the Company on 18 July 2017, to approve the unaudited financial results of the Company for the first quarter ending 30th June, 2017.

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Pact Industries to hold AGM
Jun 23,2017

Pact Industries announced that the 24th Annual General Meeting (AGM) of the company will be held on 18 July 2017.

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Khaitan Chemicals & Fertilizers to hold AGM
Jun 23,2017

Khaitan Chemicals & Fertilizers announced that the Annual General Meeting (AGM) of the company will be held on 22 August 2017.

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