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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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Gujarat Ambuja Exports announces change in registered office
Dec 06,2016

Gujarat Ambuja Exports announced that the Registered Office of the Company, shifted to a new location w.e.f. 05 December 2016. The Company new Registered and Corporate Office Address as below:

Gujarat Ambuja Exports Limited

Ambuja Towern++, Opp. Sindhu Bhavan,Sindhu Bhavan Road,Bodakdev, P.O. Thaltej,Ahmedabad - 380 059

Phone: +91 79 - 61556677, Fax: +91 79-61556678

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Adani Enterprises incorporates subsidiary - Adani Cementation
Dec 06,2016

Adani Enterprises announced that Company has incorporated a wholly owned subsidiary namely, Adani Cementation (ACL) on 06 December 2016.

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Indiabulls Housing Finance allots equity shares
Dec 06,2016

Indiabulls Housing Finance announced that, on 06 December 2016, the Company has issued and allotted 92,748 (Ninety Two Thousand Seven Hundred and Forty Eight only) Equity shares of face value Rs. 2/- each, to eligible employees upon exercise of options vested in their favour under different ESOP Schemes of the Company.

Consequent to the said allotment, the paid-up Equity Share Capita! of the Company stands increased to Rs. 84,68,88,240/- divided into 42,34,44,120 Equity Shares of face value Rs. 2/- each.

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Ramco Systems announces resignation of company secretary and compliance officer
Dec 06,2016

Ramco Systems announced that G Karthikeyan, Company Secretary and Compliance Officer has resigned and relieved from the services of the Company with effect from the closing hours of 05 December 2016.

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Vishal Bearings fixes record date for bonus issue
Dec 06,2016

Vishal Bearings announced that Board of Directors of the Company have fixed the record date as 16 December 2016 for the purpose of ascertaining list of eligible shareholders to issue and allotment of Bonus Share in proportion of 1 (one) bonus equity shares for every 4 (Four) fully paid-up equity shares held.

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Rupee Gains ahead of RBI meet
Dec 06,2016

Rupee closed higher at 67.8385 per Dollar on Tuesday (06 December 2016), versus its previous close of 68.2175 per Dollar.

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FCS Software Solutions to consider September quarter results
Dec 06,2016

FCS Software Solutions has informed BSE that the meeting of the Board of Directors of the Company is scheduled to be held on 14 December 2016, inter alia, to consider, approve and publish unaudited Financial Results of the Company for the quarter ended 30 September 2016.

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Orbit Corporation to announce September quarter results
Dec 06,2016

Orbit Corporation announced that a meeting of the Board of Directors of the Company will be held on 14 December 2016, inter alia, to adopt the Unaudited Financial Results for the quarter and half year ended 30 September 2016.

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Board of Lycos Internet to consider September quarter results
Dec 06,2016

Lycos Internet announced that a meeting of the Board of Directors of the Company will be held on 14 December 2016, inter alia, to consider and approve the Unaudited Financial Results of the Company for the second quarter ended 30 September 2016.

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Gitanjali Gems to announce September quarter and half year results
Dec 06,2016

Gitanjali Gems announced that the meeting of the Board of Directors of the Company is scheduled to be held on 14 December 2016, inter alia, to consider, approve and take on record the un-audited financial results for the quarter and half year ended 30 September 2016.

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Board of KSK Energy Ventures to consider September quarter results
Dec 06,2016

KSK Energy Ventures announced that the meeting of the Board of Directors of the Company is scheduled to be held on 13 December 2016, inter alia, to consider and approve the financial results of the Company for the quarter ended 30 September 2016.

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Outcome of board meeting of Skyline Millars
Dec 06,2016

Skyline Millars announced that the Board of Directors of the Company at its meeting held on 06 December 2016 extensively reviewed the operations of the Company and decided to stop production of precast pipes and manhole systems at the Companys manufacturing unit at Wada.

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Board of Hindustan Dorr-Oliver to consider September quarter results
Dec 06,2016

Hindustan Dorr-Oliver announced that a meeting of the Board of Directors of the Company is scheduled to be held on 14 December 2016, inter alia, for consideration of Un-Audited Financial Results of the Company for the quarter ended 30 September 2016.

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Country Club Hospitality & Holidays to consider September half year results
Dec 06,2016

Country Club Hospitality & Holidays announced that the Meeting of the Board of Directors of the Company will be held on 14 December 2016, inter alia, to consider matter mentioned below:

- To consider and approve the Un-Audited Financial Results for the Half Year ended 30 September 2016 along with the statements of Assets and Liabilities and Limited Review Report.

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ICICI Bank to consider fund raising through issue of debt instruments
Dec 06,2016

ICICI Bank announced that the Committee of Executive Directors of the Bank is scheduled to have a meeting on 09 December 2016, inter alia, to consider the following:

fund raising in single/multiple tranches in any currency through public/private placement by way of issuances of debt instruments etc. for the remaining period of Financial Year 2016-17.

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