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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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Rajkamal Synthetics to hold board meeting
Feb 08,2017

Rajkamal Synthetics will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider Quarterly Financial Results for the quarter ended 31 December 2016.

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Future Lifestyle Fashions to hold board meeting
Feb 08,2017

Future Lifestyle Fashions will hold a meeting of the Board of Directors of the Company on 13 February 2017, to consider and approve the Unaudited Financial Results for the quarter ended 31 December 2016.

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Mobile Telecommunications to hold board meeting
Feb 08,2017

Mobile Telecommunications will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider and approve the unaudited financial results along with Limited Review Report of the Company for the quarter ended 31 December 2016.

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Venmax Drugs & Pharmaceuticals to hold board meeting
Feb 08,2017

Venmax Drugs & Pharmaceuticals will hold a meeting of the Board of Directors of the Company on 16 February 2017, to consider and take note of the unaudited financial results for the quarter ended 31 December 2016.

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Thambbi Modern Spinning Mills to hold board meeting
Feb 08,2017

Thambbi Modern Spinning Mills will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider and approve the unaudited financial results for the quarter ended 31 December 2016 subject to the limited review by the statutory auditors of the Company.

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Sterling Spinners to hold board meeting
Feb 08,2017

Sterling Spinners will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider and approve the unaudited financial results along with Limited Review Report of the Company for the quarter ended 31 December 2016.

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Unipro Technologies to hold board meeting
Feb 08,2017

Unipro Technologies will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider and take on record the Un Audited Financial Results for the Quarter ended 31 December 2016.

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Lippi Systems to hold board meeting
Feb 08,2017

Lippi Systems will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider Un-Audited financial results for the quarter ended 31 December 2016.

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Pazel International to hold board meeting
Feb 08,2017

Pazel International will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider and take on record the Unaudited Financial Results of the Company for the Quarter and half year ended December 31, 2017.

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Indo Euro Indchem to hold board meeting
Feb 08,2017

Indo Euro Indchem will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider and approve the Unaudited Financial results for Quarter ended 31 December 2016.

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Aarvee Denims & Exports intimates of fire accident
Feb 08,2017

Aarvee Denims & Exports announced that on 06 February 2017, approx 04:00 p.m., there was a fire broke out at Narol unit situated at 188/2, Ranipur Village, Opp. CNI Church, Narol, Ahmedabad - 382 405 at Finishing & Packing Department.

The fire was quickly brought under control by the Fire Fighters. Due to fire stocks, ceiling and other areas of fire places were damaged. The stock was fully insured and the Company has already informed to Insurance Company about the fire incidence.

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Thomas Cook (India) provides update on subsidiary - Quess Corp
Feb 08,2017

Thomas Cook (India) announced that Quess Corp (Formerly known as IKYA Human Capital Solutions), a subsidiary of Thomas Cook (India), has entered into definitive agreements for acquiring Comtel Solutions, Singapore on 06 February 2017.

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Protection of consumers interests in digital mode of payment
Feb 08,2017

Instructions have been issued on Merchant Discount Rate (MDR) Structure on June 28, 2012 capping the MDR @ 0.75% for payment made through debit cards upto Rs. 2000/- and @ not exceeding 1 % for transaction value above Rs. 2000/-. Further, in order to facilitate wider acceptance of card payments, following temporary measures have been introduced for the period from Jan 1, 2017 applicable till March 31, 2017:

i. For transactions upto Rs. 1000/- MDR shall be capped at 0.25% of the transaction value.

ii. For transactions above Rs. 1000/- and upto Rs. 2000/-, MDR shall be capped at 0.5% of the transaction value.

Reserve Bank of India has been continuously striving to promote electronic transactions by making it safe, secure accessible and efficient. Toward this end, a number of measures have been taken on n++Security and Risk Mitigation Measures for Securing Electronic Payment Transactionsn++ which can broadly be put in to 4 categories.

i. Securing Card Present Transactions

ii. Securing Card not Present Transactions/On line card not present transactions.

iii. Securing Payments through Internet banking /Electronic Payments-RBI has required banks to introduce additional measures to secure electronic mode of payments like RTGS, NEFT and IMPS.

iv. On line alerts for all type of card transactions - RBI instructed banks to send on line alerts to customers for all type of card transactions

Honble Finance Minister in Budget Speech 2017-18 has proposed to create a Payments Regulatory Board in the Reserve Bank of India by replacing the existing Board for Regulation and Supervision of Payment and Settlement Systems. Necessary amendments are proposed to this effect in the Finance Bill 2017.

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Kopran hits 52-week high after robust Q3 earnings
Feb 08,2017

The result was announced after market hours yesterday, 7 February 2017.

Meanwhile, the S&P BSE Sensex was down 18.05 points, or 0.06%, to 28,353.21.

On the BSE, 7.96 lakh shares were traded on the counter so far as against the average daily volumes of 78,607 shares in the past one quarter. The stock had hit a high of Rs 71.65 so far during the day, which is also its 52-week high. The stock hit a low of Rs 65.65 so far during the day.

The stock had hit a 52-week low of Rs 40.65 on 29 February 2016.

The small-cap company has equity capital of Rs 43.25 crore. Face value per share is Rs 10.

Kopran is an integrated pharmaceutical company manufacturing a large range of products. It manufactures both active pharmaceutical ingredients and finished dosage forms.

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Mukesh Babu Financial Services to hold board meeting
Feb 08,2017

Mukesh Babu Financial Services will hold a meeting of the Board of Directors of the Company on 13 February 2017.

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