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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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Oriental Veneer Products to convene AGM
Aug 21,2017

Oriental Veneer Products announced that the Annual General Meeting (AGM) of the company will be held on 27 September 2017.

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ACE EduTrend to convene board meeting
Aug 21,2017

ACE EduTrend will hold a meeting of the Board of Directors of the Company on 25 August 2017.

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Board of Sanwaria Agro Oils recommends final dividend
Aug 21,2017

Sanwaria Agro Oils announced that the Board of Directors of the Company at its meeting held on 18 August 2017, inter alia, have recommended the final dividend of Rs 0.05 per equity Share (i.e. 5%) , subject to the approval of the shareholders.

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KG Denim to announce Quarterly Result
Aug 21,2017

KG Denim will hold a meeting of the Board of Directors of the Company on 2 September 2017, to approve the Un-audited Financial Results of the Company along with the Limited Review Report for the Quarter ended June 30, 2017.

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RTS Power Corporation schedules board meeting
Aug 21,2017

RTS Power Corporation will hold a meeting of the Board of Directors of the Company on 14 September 2017, to approve the Unaudited Standalone Financial Results of the Company for the Quarter and three months ended on 30th June, 2017

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Axtel Industries to convene AGM
Aug 21,2017

Axtel Industries announced that the Annual General Meeting (AGM) of the company will be held on 28 September 2017.

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Dynavision to discuss results
Aug 21,2017

Dynavision will hold a meeting of the Board of Directors of the Company on 30 August 2017, to approve the Un-audited Financial Results of the Company for the quarter ended 30th June 2017

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Artillegence Bio-Innovations to conduct AGM
Aug 21,2017

Artillegence Bio-Innovations announced that the Annual General Meeting (AGM) of the company will be held on 11 August 2017.

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Sterling Powergensys to conduct AGM
Aug 21,2017

Sterling Powergensys announced that the Annual General Meeting (AGM) of the company will be held on 28 September 2017.

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Ashiana Agro Industries schedules AGM
Aug 21,2017

Ashiana Agro Industries announced that the Annual General Meeting (AGM) of the company will be held on 28 September 2017.

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ETP Corporation to convene AGM
Aug 21,2017

ETP Corporation announced that the Annual General Meeting (AGM) of the company will be held on 25 September 2017.

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Esquire Money Guarantees to convene AGM
Aug 21,2017

Esquire Money Guarantees announced that the Annual General Meeting (AGM) of the company will be held on 26 September 2017.

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Stock Net International to conduct AGM
Aug 21,2017

Stock Net International announced that the Annual General Meeting (AGM) of the company will be held on 26 September 2017.

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V-Mart Retail scales record high after stellar Q1 outcome
Aug 21,2017

The result was announced after market hours on Friday, 18 August 2017.

Meanwhile, the S&P BSE Sensex was down 24.51 points or 0.08% at 31,500.17. The S&P BSE Small-Cap index was up 18.75 points or 0.12% at 15,636.70.

On the BSE, 26,000 shares were traded on the counter so far as against the average daily volumes of 11,933 shares in the past one quarter. The stock hit a high of Rs 1,458.80 in intraday trade so far, which is record high for the counter. The stock had hit a low of Rs 1,326 so far during the day. The stock had hit a 52-week low of Rs 440 on 8 September 2016.

The stock had outperformed the market over the past one month till 18 August 2017, rising 1.48% compared with the Sensexs 0.59% fall. The scrip also outperformed the market over the past one quarter, gaining 29.32% as against the Sensexs 3.58% rise. The scrip had also outperformed the market over the past one year, surging 139.33% as against the Sensexs 12.09% rise.

The small-cap company has equity capital of Rs 18.10 crore. Face value per share is Rs 10.

V-Mart Retail CMD Lalit Agarwal attributed good Q1 June 2017 performance to longer marriage season and preponement of Eid festivities from the second quarter. During the quarter, the company has opened eight new stores taking its total store-count to 149 across 126 cities achieving same store sales growth of 23% in value terms and 27% in quantity terms.

In its outlook, V-Mart Retail said that the company has been investing in building capabilities and capacities. In Q2 September 2017, V-Marts focus will revolve around increasing depth of business i.e. increasing the quantity and unique product options across size range besides increasing the contribution of private labels, investing in technology and building up the organization across functions to offer more value to the customers.

V-Mart Retail is a medium-sized hypermarket format retail chain based in New Delhi. It is a multi-brand family retail store offering apparels, general merchandise and kirana.

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Passengers carried by domestic airlines registers a growth of 17.18% during January-July 2017
Aug 21,2017

Passengers carried by domestic airlines during January-July 2017 were 657.21 lakhs as against 560.87 lakhs during the corresponding period of previous year thereby registering a growth of 17.18%.

The passenger load factor in the month of July 2017 has shown declining trend compared to previous month primarily due to the end of tourist season.

The overall cancellation rate of scheduled domestic airlines for the month of Jul 2017 has been 0.79%.

During July 2017, a total of 678 passenger related complaints had been received by the scheduled domestic airlines. The number of complaints per 10,000 passengers carried for the month of July 2017 has been around 0.71.

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