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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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CMI bags order worth Rs 36.24 crore from GETCO
May 08,2017

CMI has been awarded an order worth Rs 36.24 crore by Gujarat Energy Transmission Corporation for supply of 66 KV XLPE cables. The order is revene accretive and will be delivered within two quarters of 2017-18.

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Tech Mahindra allots 29800 equity shares
May 08,2017

Tech Mahindra has allotted 29800 equity shares of Rs 5 each of the Company under ESOP.

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International Pumps and Projects renamed as Kotia Enterprises
May 08,2017

International Pumps and Projects announced that the Companys name has been changed to Kotia Enterprises with effect from 31 January 2017.

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Board of Procter & Gamble Hygiene &Healthcare recommends special dividend
May 08,2017

Procter & Gamble Hygiene &Healthcare announced that the Board of Directors of the Company at its meeting held on 5 May 2017, inter alia, have recommended the special dividend of Rs 362 per equity Share (i.e. 3620%) , subject to the approval of the shareholders.

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Board of Dai-ichi Karkaria recommends final dividend
May 08,2017

Dai-ichi Karkaria announced that the Board of Directors of the Company at its meeting held on 5 May 2017, inter alia, have recommended the final dividend of Rs 3 per equity Share (i.e. 30%) , subject to the approval of the shareholders.

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Dai-ichi Karkaria to hold AGM
May 08,2017

Dai-ichi Karkaria announced that the Annual General Meeting (AGM) of the company will be held on 17 July 2017.

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Maternity Benefit (Amendment) Act,2017 relating to crn++che facility {Section 4(1)} would come into force from 01 July 2017
May 08,2017

Clarification on Recently Notified Maternity Benefit (Amendment) Act,2017 The Government has notified the Maternity Benefit (Amendment) Act,2017 on 28th March,2017 and the provisions of the Amendment Act have come into force with effect from 1st April,2017, except those relating to crn++che facility {Section 4(1)} which would come into force from 01 July 2017.

Keeping in view queries received from various quarters, the Ministry of Labour & Employment, on 12 April 2017, had issued certain clarifications on various provisions of Maternity Benefit (Amendment) Act, 2017. One of the clarifications issued by the Ministry stated that the enhanced maternity benefit, as modified by the Maternity Benefit (Amendment) bill, 2016 can be extended to women who are already under maternity leave at the time of enforcement of this Amendment Act.

Having received further queries and to remove doubts, it is further clarified that it is mandatory on the part of employers to extend the benefit of enhanced maternity leave to those women workers who were already on maternity leave on the date of enforcement of the Maternity Benefit (Amendment) Act,2017 i.e. as on 01 April 2017.

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Maternity Benefit (Amendment) Act,2017 relating to crn++che facility {Section 4(1)} would come into force from 01 July 2017
May 08,2017

Clarification on Recently Notified Maternity Benefit (Amendment) Act,2017 The Government has notified the Maternity Benefit (Amendment) Act,2017 on 28th March,2017 and the provisions of the Amendment Act have come into force with effect from 1st April,2017, except those relating to crn++che facility {Section 4(1)} which would come into force from 01 July 2017.

Keeping in view queries received from various quarters, the Ministry of Labour & Employment, on 12 April 2017, had issued certain clarifications on various provisions of Maternity Benefit (Amendment) Act, 2017. One of the clarifications issued by the Ministry stated that the enhanced maternity benefit, as modified by the Maternity Benefit (Amendment) bill, 2016 can be extended to women who are already under maternity leave at the time of enforcement of this Amendment Act.

Having received further queries and to remove doubts, it is further clarified that it is mandatory on the part of employers to extend the benefit of enhanced maternity leave to those women workers who were already on maternity leave on the date of enforcement of the Maternity Benefit (Amendment) Act,2017 i.e. as on 01 April 2017.

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Maternity Benefit (Amendment) Act,2017 relating to crn++che facility {Section 4(1)} would come into force from 01 July 2017
May 08,2017

Clarification on Recently Notified Maternity Benefit (Amendment) Act,2017 The Government has notified the Maternity Benefit (Amendment) Act,2017 on 28th March,2017 and the provisions of the Amendment Act have come into force with effect from 1st April,2017, except those relating to crn++che facility {Section 4(1)} which would come into force from 01 July 2017.

Keeping in view queries received from various quarters, the Ministry of Labour & Employment, on 12 April 2017, had issued certain clarifications on various provisions of Maternity Benefit (Amendment) Act, 2017. One of the clarifications issued by the Ministry stated that the enhanced maternity benefit, as modified by the Maternity Benefit (Amendment) bill, 2016 can be extended to women who are already under maternity leave at the time of enforcement of this Amendment Act.

Having received further queries and to remove doubts, it is further clarified that it is mandatory on the part of employers to extend the benefit of enhanced maternity leave to those women workers who were already on maternity leave on the date of enforcement of the Maternity Benefit (Amendment) Act,2017 i.e. as on 01 April 2017.

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Maternity Benefit (Amendment) Act,2017 relating to crn++che facility {Section 4(1)} would come into force from 01 July 2017
May 08,2017

Clarification on Recently Notified Maternity Benefit (Amendment) Act,2017 The Government has notified the Maternity Benefit (Amendment) Act,2017 on 28th March,2017 and the provisions of the Amendment Act have come into force with effect from 1st April,2017, except those relating to crn++che facility {Section 4(1)} which would come into force from 01 July 2017.

Keeping in view queries received from various quarters, the Ministry of Labour & Employment, on 12 April 2017, had issued certain clarifications on various provisions of Maternity Benefit (Amendment) Act, 2017. One of the clarifications issued by the Ministry stated that the enhanced maternity benefit, as modified by the Maternity Benefit (Amendment) bill, 2016 can be extended to women who are already under maternity leave at the time of enforcement of this Amendment Act.

Having received further queries and to remove doubts, it is further clarified that it is mandatory on the part of employers to extend the benefit of enhanced maternity leave to those women workers who were already on maternity leave on the date of enforcement of the Maternity Benefit (Amendment) Act,2017 i.e. as on 01 April 2017.

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Maternity Benefit (Amendment) Act,2017 relating to crn++che facility {Section 4(1)} would come into force from 01 July 2017
May 08,2017

Clarification on Recently Notified Maternity Benefit (Amendment) Act,2017 The Government has notified the Maternity Benefit (Amendment) Act,2017 on 28th March,2017 and the provisions of the Amendment Act have come into force with effect from 1st April,2017, except those relating to crn++che facility {Section 4(1)} which would come into force from 01 July 2017.

Keeping in view queries received from various quarters, the Ministry of Labour & Employment, on 12 April 2017, had issued certain clarifications on various provisions of Maternity Benefit (Amendment) Act, 2017. One of the clarifications issued by the Ministry stated that the enhanced maternity benefit, as modified by the Maternity Benefit (Amendment) bill, 2016 can be extended to women who are already under maternity leave at the time of enforcement of this Amendment Act.

Having received further queries and to remove doubts, it is further clarified that it is mandatory on the part of employers to extend the benefit of enhanced maternity leave to those women workers who were already on maternity leave on the date of enforcement of the Maternity Benefit (Amendment) Act,2017 i.e. as on 01 April 2017.

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Maternity Benefit (Amendment) Act,2017 relating to crn++che facility {Section 4(1)} would come into force from 01 July 2017
May 08,2017

Clarification on Recently Notified Maternity Benefit (Amendment) Act,2017 The Government has notified the Maternity Benefit (Amendment) Act,2017 on 28th March,2017 and the provisions of the Amendment Act have come into force with effect from 1st April,2017, except those relating to crn++che facility {Section 4(1)} which would come into force from 01 July 2017.

Keeping in view queries received from various quarters, the Ministry of Labour & Employment, on 12 April 2017, had issued certain clarifications on various provisions of Maternity Benefit (Amendment) Act, 2017. One of the clarifications issued by the Ministry stated that the enhanced maternity benefit, as modified by the Maternity Benefit (Amendment) bill, 2016 can be extended to women who are already under maternity leave at the time of enforcement of this Amendment Act.

Having received further queries and to remove doubts, it is further clarified that it is mandatory on the part of employers to extend the benefit of enhanced maternity leave to those women workers who were already on maternity leave on the date of enforcement of the Maternity Benefit (Amendment) Act,2017 i.e. as on 01 April 2017.

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Maternity Benefit (Amendment) Act,2017 relating to crn++che facility {Section 4(1)} would come into force from 01 July 2017
May 08,2017

Clarification on Recently Notified Maternity Benefit (Amendment) Act,2017 The Government has notified the Maternity Benefit (Amendment) Act,2017 on 28th March,2017 and the provisions of the Amendment Act have come into force with effect from 1st April,2017, except those relating to crn++che facility {Section 4(1)} which would come into force from 01 July 2017.

Keeping in view queries received from various quarters, the Ministry of Labour & Employment, on 12 April 2017, had issued certain clarifications on various provisions of Maternity Benefit (Amendment) Act, 2017. One of the clarifications issued by the Ministry stated that the enhanced maternity benefit, as modified by the Maternity Benefit (Amendment) bill, 2016 can be extended to women who are already under maternity leave at the time of enforcement of this Amendment Act.

Having received further queries and to remove doubts, it is further clarified that it is mandatory on the part of employers to extend the benefit of enhanced maternity leave to those women workers who were already on maternity leave on the date of enforcement of the Maternity Benefit (Amendment) Act,2017 i.e. as on 01 April 2017.

Powered by Capital Market - Live News

Maternity Benefit (Amendment) Act,2017 relating to crn++che facility {Section 4(1)} would come into force from 01 July 2017
May 08,2017

Clarification on Recently Notified Maternity Benefit (Amendment) Act,2017 The Government has notified the Maternity Benefit (Amendment) Act,2017 on 28th March,2017 and the provisions of the Amendment Act have come into force with effect from 1st April,2017, except those relating to crn++che facility {Section 4(1)} which would come into force from 01 July 2017.

Keeping in view queries received from various quarters, the Ministry of Labour & Employment, on 12 April 2017, had issued certain clarifications on various provisions of Maternity Benefit (Amendment) Act, 2017. One of the clarifications issued by the Ministry stated that the enhanced maternity benefit, as modified by the Maternity Benefit (Amendment) bill, 2016 can be extended to women who are already under maternity leave at the time of enforcement of this Amendment Act.

Having received further queries and to remove doubts, it is further clarified that it is mandatory on the part of employers to extend the benefit of enhanced maternity leave to those women workers who were already on maternity leave on the date of enforcement of the Maternity Benefit (Amendment) Act,2017 i.e. as on 01 April 2017.

Powered by Capital Market - Live News

Maternity Benefit (Amendment) Act,2017 relating to crn++che facility {Section 4(1)} would come into force from 01 July 2017
May 08,2017

Clarification on Recently Notified Maternity Benefit (Amendment) Act,2017 The Government has notified the Maternity Benefit (Amendment) Act,2017 on 28th March,2017 and the provisions of the Amendment Act have come into force with effect from 1st April,2017, except those relating to crn++che facility {Section 4(1)} which would come into force from 01 July 2017.

Keeping in view queries received from various quarters, the Ministry of Labour & Employment, on 12 April 2017, had issued certain clarifications on various provisions of Maternity Benefit (Amendment) Act, 2017. One of the clarifications issued by the Ministry stated that the enhanced maternity benefit, as modified by the Maternity Benefit (Amendment) bill, 2016 can be extended to women who are already under maternity leave at the time of enforcement of this Amendment Act.

Having received further queries and to remove doubts, it is further clarified that it is mandatory on the part of employers to extend the benefit of enhanced maternity leave to those women workers who were already on maternity leave on the date of enforcement of the Maternity Benefit (Amendment) Act,2017 i.e. as on 01 April 2017.

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