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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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Raj Television Network to hold board meeting
Feb 08,2017

Raj Television Network will hold a meeting of the Board of Directors of the Company on 15 February 2017, to consider and take on record, the Un-audited financial result for the Third quarter and period ended 31 December 2016.

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Fischer Chemic to hold board meeting
Feb 08,2017

Fischer Chemic will hold a meeting of the Board of Directors of the Company on 14 February 2017, to approve Un-Audited Financial Results along with Limited Review Report for the Quarter and nine months period ended on 31 December 2016.

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Nutraplus India to hold board meeting
Feb 08,2017

Nutraplus India will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider and approve the Un-audited financial results for the quarter ended on 31 December 2016;

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Mahavir Industries to hold board meeting
Feb 08,2017

Mahavir Industries will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider and adopt the Un-Audited Financial Results for the quarter ended on 31 December 2016.

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Websol Energy System to hold board meeting
Feb 08,2017

Websol Energy System will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider, approve and take on record the unaudited Financial Results for the quarter ended 31 December 2016.

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Bharat Textiles& Proofing Industries to hold board meeting
Feb 08,2017

Bharat Textiles& Proofing Industries will hold a meeting of the Board of Directors of the Company on 13 February 2017, to consider and adopt the Un-Audited Financial Results for the quarter ended on 31 December 2016 appoint Mrs. Priyanka as their Company Secretary/Compliance officer.

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Transglobe Foods to hold board meeting
Feb 08,2017

Transglobe Foods will hold a meeting of the Board of Directors of the Company on 14 February 2017, to approve Un-Audited Financial Results along with Limited Review Report for the Quarter ended on 31 December 2016, To appoint Mr. Prabhakar Khakkhar as Chief Financial Officer of the Company.

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Kratos Energy & Infrastructure to hold board meeting
Feb 08,2017

Kratos Energy & Infrastructure 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.

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NRC to hold board meeting
Feb 08,2017

NRC 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.

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Morgan Ventures to hold board meeting
Feb 08,2017

Morgan Ventures will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider and approve the Un-audited Financial Results for Quarter ended 31 December 2016.

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Kajaria Ceramics announces resignation of director
Feb 08,2017

Kajaria Ceramics announced that Sandeep Singhal has tendered his resignation from the Board of the Company as the Independent Director with effect from 07 February 2017.

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SEAMEC provides business update
Feb 08,2017

SEAMEC announced that the Charter for vessel Revelation with Resolve Salvage and Fire (Asia) has been extended for a further period of 14 days with effect from 09 February 2017 till 22 February 2017 under the same terms and conditions.

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Power Finance Corporation announces appointment of director
Feb 08,2017

Power Finance Corporation announced the appointment of Sitaram Pareek as an Independent Director with effect from 06 February 2017.

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Global Offshore Services receives revision in credit ratings
Feb 08,2017

Global Offshore Services has received revision in credit ratings from Credit Analysis & Research as under -

Term loans - CARE D

Fund based limits - CARE D

Long term/ short term non fund based based limits - CARE D/ CARE D

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NTPC slips after poor Q3 result
Feb 08,2017

The result was announced during market hours today, 8 February 2017.

Meanwhile, the S&P BSE Sensex was up 5.67 points or 0.02% at 28,340.83

On BSE, so far 8.09 lakh shares were traded in the counter as against average daily volume of 3.57 lakh shares in the past one quarter. The stock hit a high of Rs 175.25 and a low of Rs 170.50 so far during the day. The stock had hit a 52-week low of Rs 116.80 on 25 February 2016. The stock had hit a 52-week high of Rs 177.80 on 27 January 2017.

The large-cap company has equity capital of Rs 8245.46 crore. Face value per share is Rs 10.

NTPC Groups commercial capacity increased by 2,480 megawatts (MW) to 48,028 MW as on 31 December 2016 from 45,548 MW as on 31 December 2015. Installed capacity rose by 1,710 MW to 41,062 MW as on 31 December 2016 from 39,352 MW as on 31 December 2015.

NTPC, Indias largest power company, has presence in the entire value chain of power generation business.

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