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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 DCM Shriram recommends dividend
Feb 13,2017

DCM Shriram announced that the Board of Directors of the Company at its meeting held on 13 February 2017, inter alia, have recommended the dividend of Rs 2.8 per equity Share (i.e. 140%) , subject to the approval of the shareholders.

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Board of AIA Engineering recommends dividend
Feb 13,2017

AIA Engineering announced that the Board of Directors of the Company at its meeting held on 13 February 2017, inter alia, have recommended the dividend of Rs 4 per equity Share (i.e. 200%) , subject to the approval of the shareholders.

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Prajay Engineers Syndicate to hold EGM
Feb 13,2017

Prajay Engineers Syndicate announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 8 March 2017 .

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Board of NRB Bearings recommends dividend
Feb 13,2017

NRB Bearings announced that the Board of Directors of the Company at its meeting held on 13 February 2017, inter alia, have recommended the dividend of Rs 1.4 per equity Share (i.e. 70%) , subject to the approval of the shareholders.

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Tree House Education & Accessories to hold board meeting
Feb 13,2017

Tree House Education & Accessories will hold a meeting of the Board of Directors of the Company on 13 February 2017, to consider and approve appointment of Mr. Deepak Valecha as an Additional Independent Non-Executive Director.

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Cheviot Company to hold board meeting
Feb 13,2017

Cheviot Company will hold a meeting of the Board of Directors of the Company on 20 February 2017, to discuss the Scheme of Amalgamation between Harsh Investments Private Limited (Transferor Company) and Cheviot Company Limited (Transferee Company) and their respective shareholders against which BSE Limited had issued an observation letter dated January 18, 2017.

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Ishan Dyes & chemicals to hold board meeting
Feb 13,2017

Ishan Dyes & chemicals will hold a meeting of the Board of Directors of the Company on 17 February 2017, to consider and approve the issue and allotment of 37,54,900 Bonus Equity Shares of Rs. 10/- each to the Equity Shareholders who are entitled thereto as on Record date fixed by the Company i.e. February 15, 2017 in the proportion of 1 (One) new Bonus Equity Share of Rs. 10/- (Rupees Ten only) each fully paid up for every 2 (Two) existing Ordinary Equity Shares of Rs. 10/- (Rupees Ten only) each fully paid up of the Company.

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Huhtamaki PPL to hold board meeting
Feb 13,2017

Huhtamaki PPL will hold a meeting of the Board of Directors of the Company on 21 February 2017, to consider and approve the Audited Financial Results of the Company for the Financial Year/Quarter ended 31 December 2016 and dividend, if any, to be recommended.

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CLIO Infotech to hold EGM
Feb 13,2017

CLIO Infotech announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 9 March 2017 .

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Board of Megh Mayur Infra appoints directors
Feb 13,2017

Megh Mayur Infra announced that the Board of Directors vide its Circular Resolution dated 13 February 2017 have inter alia approved the following:

1. Appointment of Forum Shah as an Additional Director in the Category of Non-Executive, Independent Director of the Company with effect from 13 February 2017 in accordance with the provisions of law.

2. Appointment of Rupal Shah as an Additional Director in the Category of Non-Executive, Women Director of the Company with effect from 13 February 2017 in accordance with the provisions of law.

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Edelweiss Financial Services allots 251,500 equity shares
Feb 13,2017

Edelweiss Financial Services announced that the Share Allotment Committee has allotted 2,51,500 Equity Shares of the face value of Re. 1/- each under Edelweiss Employee Stock Option Scheme(s) of the Company.

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Cords Cable Industries standalone net profit rises 131.25% in the December 2016 quarter
Feb 13,2017

Net profit of Cords Cable Industries rose 131.25% to Rs 1.11 crore in the quarter ended December 2016 as against Rs 0.48 crore during the previous quarter ended December 2015. Sales rose 23.15% to Rs 78.04 crore in the quarter ended December 2016 as against Rs 63.37 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales78.0463.37 23 OPM %10.8110.64 - PBDT3.192.08 53 PBT1.710.72 138 NP1.110.48 131

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GTN Textiles reports standalone net loss of Rs 0.82 crore in the December 2016 quarter
Feb 13,2017

Net Loss of GTN Textiles reported to Rs 0.82 crore in the quarter ended December 2016 as against net loss of Rs 1.98 crore during the previous quarter ended December 2015. Sales declined 24.90% to Rs 27.56 crore in the quarter ended December 2016 as against Rs 36.70 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales27.5636.70 -25 OPM %11.323.41 - PBDT0.98-0.93 LP PBT-0.01-1.98 99 NP-0.82-1.98 59

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Rajputana Investment & Finance reports standalone nil net profit/loss in the December 2016 quarter
Feb 13,2017

Rajputana Investment & Finance reported no net profit/loss in the quarter ended December 2016 as against net profit of Rs 0.01 crore during the previous quarter ended December 2015. Sales declined 32.35% to Rs 0.23 crore in the quarter ended December 2016 as against Rs 0.34 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales0.230.34 -32 OPM %02.94 - PBDT00.01 -100 PBT00.01 -100 NP00.01 -100

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Adhunik Industries reports standalone net profit of Rs 0.23 crore in the December 2016 quarter
Feb 13,2017

Net profit of Adhunik Industries reported to Rs 0.23 crore in the quarter ended December 2016 as against net loss of Rs 3.55 crore during the previous quarter ended December 2015. Sales declined 14.29% to Rs 84.18 crore in the quarter ended December 2016 as against Rs 98.21 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales84.1898.21 -14 OPM %5.360.56 - PBDT1.23-3.35 LP PBT0.24-4.18 LP NP0.23-3.55 LP

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