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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 CHPL Industries approves change in registered office
Jun 26,2017

The Board of CHPL Industries at its meeting held on 24 June 2017 approved change in registered office from House No:5-676/2,Plot #61, Bhavani Nagar Colony, Old Alwal, behind VBR gardens, Secunderabad -500010,Telangana to Shop No 136-137/ 8 & 9/ 3rd Floor, Empire Square, Baben, Ta - Bardoli, Dist - Surat, Gujrat-394602

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Amtek Auto announces appointment of President and Group CFO
Jun 26,2017

Amtek Auto announced that John Ernest Flintham and Sanjiv Bhasin have been appointed as President with immediate effect. The Company also appointed Kunal Sabharwal as the Group CFO, Amtek.

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Outcome of board meeting of Cosboard Industries
Jun 26,2017

Cosboard Industries announced that the Company have appointed New Independent Directors Non Executive and Acceptance of Resignation of Independent Directors Non Executive, and Appointment of Company Secretary in the Board Meeting held on 29 May 2017 as under;

1. Appointment of Independent Directors Non Executive
a. Inderpal Singh Pasricha
b. AbuA kram

2. Resignation of Independent Directors Non Executive
a. Mahadev Rathi
b. Lalit Narayan Sarda

3. Appointment of Company Secretary
a. Alka Jain

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ICICI Bank issues 582,984,544 equity shares
Jun 26,2017

ICICI Bank announced that that the Stakeholders Relationship Committee duly authorised and empowered by the Board of Directors of the Bank at its meeting held on 24 June 2017 has approved the below allotment:

582,984,544 equity shares of Rs.2/- each as fully paid-up bonus equity shares, in the ratio of 1:10 i.e. 1 (one) equity share of Rs.2/- each for every 10 (ten) fully paid-up equity shares of Rs.2/- each held (including shares underlying ADS) allotted to shareholders holding shares in electronic form as per the beneficiary position downloaded from the Depositories i.e. National Securities Depository and Central Depository Services on 21 June 2017 and to shareholders holding shares in physical form on 24 June 2017 after giving effect to all valid transfers received upto 21 June 2017 (Record Date).

Consequently, the total equity shares of the Bank stands increased to 6,412,829,984 equity shares of Rs.2/- each aggregating to Rs.12,825,659,968/-.

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Prakash Industries allots 2,64,989 equity shares
Jun 26,2017

Prakash Industries on 24 Jun 2017 has allotted 2,64,989 equity shares on conversion of FCCBs. Consequent to the aforesaid conversion, the paid up share capital of the Company has increased to Rs 148.95 crore.

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Ingersoll-Rand (India) to pay dividend
Jun 26,2017

Ingersoll-Rand (India) announced that dividend will be paid on 08 August 2017.

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Rajputana Investment & Finance fixes record date for bonus issue
Jun 26,2017

Rajputana Investment & Finance has fixed 14 July 2017 as record date for bonus issue.

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Board of Rajputana Investment & Finance approves bonus issue
Jun 26,2017

The Board of Directors of Rajputana Investment & Finance approved, subject to approval of shareholders, issue of fully Paid-up Equity (Bonus) Shares to the eligible shareholders in the ratio of 9 (Nine) bonus equity Shares of Rs. 10/- each for every 5 (Five) existing Equity Shares of Rs. 10/- each as on the record date of 14 July 2017 as fixed by the Board vide its meeting held on 24 June 2017.

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Outcome of board meeting of Meera Industries
Jun 26,2017

The Board of Meera Industries at its meeting held on 24 June 2017 has - (i) Approved the Audited Financial Statements for the year ended 31 March 2017

(ii) Recommended a Dividend of Re. 1/- (Rupee One only) per equity share of Rs. 10/- each for the financial year ended 31 March 2017 on enlarged share capital.

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Dhunseri Petrochem intimates of increase in stake holding in Global Foods
Jun 26,2017

Dhunseri Petrochem announced that 16,000 Optionally Convertible Debentures of SGD 100 each in the Companys associate Company Global Foods has been converted into 16,00,000 Equity Shares of SGD 1 (one) each on 23 June 2017. Accordingly, the Companys shareholding has increased from 32.5% to 74.04% in Global Foods and thus it has become the subsidiary of the Company.

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V-Mart Retail opens new store in Uttar Pradesh
Jun 26,2017

V-Mart Retail has opened a new store in the state of Uttar Pradesh. The store is a fashion store. With this the tally of Uttar Pradesh is 17 composite and 46 fashion stores. This takes the total number of stores to 149 stores in 126 cities across 14 states with 37 composite and 112 fashion stores with a total area of 12.61 lakhs sq.ft.

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CES announces resignation of director
Jun 26,2017

CES announced the resignation of Ram Kancharla From Office Directorship of CES limited w.e.f 24 June 2017.

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Outcome of board meeting of Sree Sakthi Paper Mills
Jun 26,2017

The Board of Sree Sakthi Paper Mills at its meeting held on 24 June 2017 has transacted the following -

Akhilesh Agarwal, was appointed as Additional Director of the Company.

The Board recorded the results of Postal Ballot as 99.99% of the votes were polled in favour of the resolutions permitting( i) the sale of Companys landed properties at Chalakkudy, Thrissur (ii) alter the object clause of the Memorandum of Association of the Company (iii) Issue of 11.25% of Non-Convertible Redeemable Preference Shares (RPS).

Board has allotted 11.25% of Non-Convertible Redeemable Preference shares to the promoter directors.

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Indian currency market closed for Holiday
Jun 26,2017

Indian currency market is closed for trading on account of public holiday in observance of Id-Ul-Fitr (Ramzan ID). The market will resume trading on Tuesday.

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Board of IDFC approves change in directorate
Jun 26,2017

The Board of IDFC at its meeting held on 24 June 2017 approved the following -

a. Acceptance of resignation of Vikram Limaye (DIN: 00488534) as Managing Director & CEO of the Company w.e.f. 15 July 2017. The Board placed on record, its sincere appreciation for the long association and valuable services rendered by Limaye during his tenure with the Company.

b. Appointment of Sunil Kakar (DIN: 03055561) as an Additional Director of the Company w.e.f. 16 July 2017, subject to the approval of the Shareholders at the ensuing AGM of the Company.

c. Appointment of Sunil Kakar (DIN: 03055561) as Managing Director & CEO of the Company for a period of 3 yrs w.e.f. 16 July 2017, subject to the approval of the shareholders at the ensuing AGM of the Company.

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