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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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Board of Kewal Kiran Clothing recommends final dividend
Apr 26,2017

Kewal Kiran Clothing announced that the Board of Directors of the Company at its meeting held on 25 April 2017, inter alia, have recommended the final dividend of Rs 1.5 per equity Share (i.e. 15%) , subject to the approval of the shareholders.

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Board of IDFC Bank recommends final dividend
Apr 26,2017

IDFC Bank announced that the Board of Directors of the Company at its meeting held on 25 April 2017, inter alia, have recommended the final dividend of Rs 0.75 per equity Share (i.e. 7.5%) , subject to the approval of the shareholders.

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ICICI Bank allots 104,400 equity shares
Apr 26,2017

ICICI Bank has allotted 104,400 equity shares under ESOS on 24 April 2017.

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Board of Mahindra & Mahindra Financial Serv. recommends final dividend
Apr 26,2017

Mahindra & Mahindra Financial Serv. announced that the Board of Directors of the Company at its meeting held on 25 April 2017, inter alia, have recommended the final dividend of Rs 2.4 per equity Share (i.e. 120%) , subject to the approval of the shareholders.

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Bombay Rayon Fashions to hold EGM
Apr 26,2017

Bombay Rayon Fashions announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 20 May 2017 .

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Board of Kewal Kiran Clothing recommends dividend
Apr 26,2017

Kewal Kiran Clothing announced that the Board of Directors of the Company at its meeting held on 25 April 2017, inter alia, have recommended the dividend of Rs 7 per equity Share (i.e. 70%) , subject to the approval of the shareholders.

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Acrow India to hold AGM
Apr 26,2017

Acrow India announced that the Annual General Meeting (AGM) of the company will be held on 20 September 2017.

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Board of ICICI Prudential Life Insurance Co. recommends special dividend
Apr 26,2017

ICICI Prudential Life Insurance Co. announced that the Board of Directors of the Company at its meeting held on 25 April 2017, inter alia, have recommended the special dividend of Rs 1.2 per equity Share (i.e. 12%) , subject to the approval of the shareholders.

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Board of ICICI Prudential Life Insurance Co. recommends final dividend
Apr 26,2017

ICICI Prudential Life Insurance Co. announced that the Board of Directors of the Company at its meeting held on 25 April 2017, inter alia, have recommended the final dividend of Rs 2.3 per equity Share (i.e. 23%) , subject to the approval of the shareholders.

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Mahindra & Mahindra Financial Serv. to hold AGM
Apr 26,2017

Mahindra & Mahindra Financial Serv. announced that the Annual General Meeting (AGM) of the company will be held on 24 July 2017.

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Kotak Mahindra Bank allots 1,30,376 equity shares
Apr 26,2017

Kotak Mahindra Bank has allotted 1,30,376 equity shares of Rs 5 each under ESOP schemes.

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Simplex Projects announces resignation of company secretary and compliance officer
Apr 26,2017

Simplex Projects announced that Abirlal DasGupta, Company Secretary and Compliance Officer has resigned from the post with effect from 17 March 2017.

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Ramco Systems allots 7,283 equity shares
Apr 26,2017

Ramco Systems announced that the Allotment Committee of the Board of Directors of the Company at its meeting held on 26 April 2017 has approved an allotment of 7,283 equity shares of Rs.10/- each, being the exercise of 1,125 equity stock options under the Employee Stock Option Scheme, 2009 Plan A (ESOS 2009 - Plan A), 3,907 equity stock options under the Employee Stock Option Scheme, 2009 - Plan B (ESOS 2009 - Plan B) and 2,251 equity stock options under the Employee Stock Option Scheme, 2013 (ESOS 2013). Consequent to this, the paid up equity share capital has increased from 30,405,339 equity shares of Rs. 10/- each to 30,412,622 equity shares of Rs. 10/- each.

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Government takes pro-active step towards improving the Quality of Mobile Services
Apr 26,2017

In order to obtain direct feedback from subscribers about Quality of Mobile Services, the Department of Telecommunications (DoT) launched an Integrated Voice Response System (IVRS) in a phased manner between December 2016 and March 2017 covering all states in the country, through which, subscribers received an IVRS call from short code 1955 and were asked a few questions on the Quality of Mobile Services including problem of call drop, if any. The subscribers have been facilitated by the system to send a toll-free SMS to the same short code 1955, containing the name of city/town/village, where they face frequent call drops.

Since its launch, the IVRS system has made 26.97 lakh calls to subscribers of all Telecom Service Providers (TSPs) across the country, out of which 3.56 lakh subscribers (about 13%) participated in the survey. Remaining 87% subscribers, who did not participate, were either not willing or did not have problem of frequent call drops. Among those who participated, 2.15 lakh (about 60%) subscribers have reported experiencing frequent call drops. From the feedback it has been observed that the complaint is mostly indoors. The feedback is shared with the TSPs to take corrective action in a time bound manner and submit the action taken report (ATR) to DoT Task Force every fortnight. TSPs contact each subscriber, who has reported frequent call drops, through telephonic calls and SMS in English and local languages to collect further details required for resolution of the complaint.

On cumulative basis, since launch of IVRS, TSPs have resolved 13,631 cases related to call drop problem and also resolved another 7975 cases which were reported as frequent call drop problem but were found to be having other issues related to data, roaming, billing, MNP, mobile device etc. Out of these,1406 cases were resolved through optimization, rectifying hardware/power problems, through field visits etc. during the fortnight 15-31March 2017.

The results obtained through the IVRS platform and follow up efforts of DoT & TSPs are quite encouraging. The call drops reported by subscribers have dropped from 64% in Dec-2016 to 57% at the end of Mar-2017, a drop of nearly 7% in 3 months. In addition, the said initiatives of the Government have facilitated TSPs to identify black spots and plan new sites/ infrastructure to improve their services. TSPs have planned 987 new sites/boosters out of which 109 have been already installed and commissioned (Airtel-11, Idea-29, Reliance Jio - 69).

The Ministry of Communications regularly reviews the efficacy of the system and suggests further areas of improvements. This system has provided a win-win situation for all stakeholders.

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Mahindra & Mahindra Financial Services standalone net profit declines 36.78% in the March 2017 quarter
Apr 26,2017

Net profit of Mahindra & Mahindra Financial Services declined 36.78% to Rs 234.07 crore in the quarter ended March 2017 as against Rs 370.27 crore during the previous quarter ended March 2016. Sales rose 9.17% to Rs 1825.45 crore in the quarter ended March 2017 as against Rs 1672.10 crore during the previous quarter ended March 2016.

For the full year,net profit declined 40.50% to Rs 400.23 crore in the year ended March 2017 as against Rs 672.60 crore during the previous year ended March 2016. Sales rose 5.48% to Rs 6173.91 crore in the year ended March 2017 as against Rs 5853.16 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales1825.451672.10 9 6173.915853.16 5 OPM %58.8373.84 -56.0462.64 - PBDT377.36581.14 -35 666.081079.08 -38 PBT363.82570.61 -36 620.061038.19 -40 NP234.07370.27 -37 400.23672.60 -40

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