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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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Adani Ports & Special Economic Zone to acquire TM Harbour Services
Dec 07,2016

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Escorts announces completion of divestment of OEM & Export business of Auto Products
Dec 07,2016

Escorts announced that it has completed the transfer of OEM & Export business of Auto Products to Badve Engineering, Pune on 06 December 2016.

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GTL Infrastructure allots equity shares
Dec 07,2016

GTL Infrastructure announced that the Committee of the Company at its meeting held on 07 December 2016 has considered allotment of 19,259,458 equity shares consequent to conversion of 3,550 FCCBs of US$ 1,000/- each (Series A Bonds) at a conversion price of Rs. 10/- per share, in terms of the Offering Circular dated 17 October 2012 for issue of US$ 111,740,000 Zero Coupon Compulsorily Convertible Bonds due 2017 (Series A Bonds).

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JK Paper allots equity shares
Dec 07,2016

JK Paper announced that the Committee of Directors of the Company at its Meeting held on 07 December 2016, has allotted 74,28,240 Equity Shares of Rs.10/- each of the Company to the holders of such FCCBs.

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Hindustan Petroleum Corporation signs Consortium Agreement
Dec 07,2016

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Divis Laboratories provides update on USFDA inspection
Dec 07,2016

Divis Laboratories announced that the Companys Unit-II at Visakhapatnam, Andhra Pradesh has had an inspection by the US-FDA from 29 November 2016 to 06 December 2016. The Company have been issued a form 483 with 5 observations and these shall be responded within the time permitted.

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Board of Regent Enterprises appoints director
Dec 07,2016

Regent Enterprises announced that the Board of Directors of the Company, at its meeting held on 07 December 2016, has appointed Praveen Kumar Jha as an additional cum independent director of the Company with effect from 07 December 2016.

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Gujarat Industries Power Co signs PPA with Gujarat Urja Vikas Nigam
Dec 07,2016

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Outcome of board meeting of Khemani Distributors & Marketing
Dec 07,2016

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Caprihans India standalone net profit declines 32.23% in the September 2016 quarter
Dec 07,2016

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ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales53.6760.62 -11 OPM %5.505.20 - PBDT3.845.05 -24 PBT2.934.25 -31 NP1.852.73 -32

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RattanIndia Infrastructure reports standalone net loss of Rs 1.61 crore in the September 2016 quarter
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Subex reports standalone net profit of Rs 3.21 crore in the September 2016 quarter
Dec 07,2016

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ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales75.0572.67 3 OPM %7.20-2.28 - PBDT4.68-14.68 LP PBT4.01-15.34 LP NP3.21-18.32 LP

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ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales563.09434.21 30 OPM %3.345.38 - PBDT8.2510.64 -22 PBT1.193.13 -62 NP0.356.38 -95

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Surya Roshni standalone net profit rises 1.47% in the September 2016 quarter
Dec 07,2016

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ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales740.34696.97 6 OPM %7.148.17 - PBDT30.7432.98 -7 PBT17.1617.51 -2 NP13.1012.91 1

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DCW standalone net profit rises 65.56% in the September 2016 quarter
Dec 07,2016

Net profit of DCW rose 65.56% to Rs 8.94 crore in the quarter ended September 2016 as against Rs 5.40 crore during the previous quarter ended September 2015. Sales declined 13.46% to Rs 299.36 crore in the quarter ended September 2016 as against Rs 345.91 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales299.36345.91 -13 OPM %15.1111.10 - PBDT31.7425.28 26 PBT12.798.17 57 NP8.945.40 66

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