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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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Salona Cotspin announces its foray into garment business
Feb 25,2017

Salona Cotspin has decided to enter into garment business within the textile sector apart from its existing business.

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Sundaram Multi Pap announces resignation of company secretary and compliance officer
Feb 25,2017

Sundaram Multi Pap announced that the Manik Makwana has resigned from the position of Company Secretary and Compliance Officer of the Company and his resignation has been accepted by the Company. He is relieved from the post of Company Secretary and Compliance Officer as of close of business hours i.e. 7.00 p.m. on 24 February 2017.

Further, Amrut P. Shah, Chairman and Managing Director be and is hereby appointed as Compliance Officer of the Company till another Qualified Company Secretary is appointed as Compliance Officer by the Company.

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Sundaram Multi Pap announces resignation of company secretary and compliance officer
Feb 25,2017

Sundaram Multi Pap announced that the Manik Makwana has resigned from the position of Company Secretary and Compliance Officer of the Company and his resignation has been accepted by the Company. He is relieved from the post of Company Secretary and Compliance Officer as of close of business hours i.e. 7.00 p.m. on 24 February 2017.

Further, Amrut P. Shah, Chairman and Managing Director be and is hereby appointed as Compliance Officer of the Company till another Qualified Company Secretary is appointed as Compliance Officer by the Company.

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Info Edge (India) fixes record date for 2nd interim dividend
Feb 25,2017

Info Edge (India) has fixed 06 March 2017 as the record date for payment of 2nd interim dividend. The dividend will be paid on or after 10 March 2017.

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Jain Irrigation Systems plans to issue FCCBs upto USD 75 million
Feb 25,2017

Jain Irrigation Systems announced that the meeting of Sub Committee of the Board of Directors of the Company was held on 25 February 2017 which considered and approved the following:

1. Issue of FCCBs upto USD 75 million to non-promoter entities.

2. To convene Extraordinary General Meeting of the Shareholders of the Company to be held at Jalgaon at 11.00 AM on 24 March 2017 for obtaining approval of Shareholders for the following special business;

a) Issue of FCCBs upto USD 75 million to non-promoter entities for redemption of FCCBs worth USD 50 million issued in 2012/ 2013 and balance USD 25 million fresh issue for permitted use.

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Jain Irrigation Systems plans to issue FCCBs upto USD 75 million
Feb 25,2017

Jain Irrigation Systems announced that the meeting of Sub Committee of the Board of Directors of the Company was held on 25 February 2017 which considered and approved the following:

1. Issue of FCCBs upto USD 75 million to non-promoter entities.

2. To convene Extraordinary General Meeting of the Shareholders of the Company to be held at Jalgaon at 11.00 AM on 24 March 2017 for obtaining approval of Shareholders for the following special business;

a) Issue of FCCBs upto USD 75 million to non-promoter entities for redemption of FCCBs worth USD 50 million issued in 2012/ 2013 and balance USD 25 million fresh issue for permitted use.

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Kothari Products divests entire stake held in subsidiary - Sukhdham Constructions & Developers
Feb 25,2017

Kothari Products has divested the entire stake in Sukhdham Constructions & Developers (a 100% subsidiary) to Innerline Realty, Mumbai.

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Toyam Industries to hold board meeting
Feb 25,2017

Toyam Industries will hold a meeting of the Board of Directors of the Company on 6 March 2017.

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VMS Industries to hold EGM
Feb 25,2017

VMS Industries announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 28 March 2017 .

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Symbiox Investment & Trading Co. to hold board meeting
Feb 25,2017

Symbiox Investment & Trading Co. will hold a meeting of the Board of Directors of the Company on 6 March 2017.

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Board of Info Edge (India) recommends dividend
Feb 25,2017

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

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MIC Electronics to hold EGM
Feb 25,2017

MIC Electronics announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 20 March 2017 .

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Lakshmi Precision Screws to hold EGM
Feb 25,2017

Lakshmi Precision Screws announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 14 April 2017 .

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Matra Kaushal Enterprise reports standalone net loss of Rs 0.07 crore in the December 2016 quarter
Feb 25,2017

Net Loss of Matra Kaushal Enterprise reported to Rs 0.07 crore in the quarter ended December 2016 as against net loss of Rs 0.07 crore during the previous quarter ended December 2015. Sales rose 56.56% to Rs 3.46 crore in the quarter ended December 2016 as against Rs 2.21 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales3.462.21 57 OPM %-2.02-3.17 - PBDT-0.07-0.07 0 PBT-0.07-0.07 0 NP-0.07-0.07 0

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Ashirwad Steels & Industries standalone net profit declines 17.86% in the December 2016 quarter
Feb 25,2017

Net profit of Ashirwad Steels & Industries declined 17.86% to Rs 0.46 crore in the quarter ended December 2016 as against Rs 0.56 crore during the previous quarter ended December 2015. Sales reported to Rs 0.74 crore in the quarter ended December 2016. There were no Sales reported during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales0.740 0 OPM %-14.860 - PBDT0.620.72 -14 PBT0.460.56 -18 NP0.460.56 -18

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