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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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Control Print announces resignation of company secretary
Nov 07,2016

Control Print announced that Shama Pawar has tendered her resignation from the post of Company Secretary and Compliance Officer of the Company w.e.f. 05 November 2016.

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GTL Infrastructure to consider allotment of shares on conversion of FCCBs
Nov 07,2016

GTL Infrastructure announced that a Meeting of the Committee will be held on 08 November 2016, to consider allotment of Equity Shares consequent to conversion notices received for conversion of FCCBs at a conversion price of Rs. 10 per share, in terms of the Offering Circular dated 17 October 2012.

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ITI announces change in directorate
Nov 07,2016

ITI announced that Lt General A. R. Prasad, VSM, ADC, Signal Officer in-chief, Ministry of Defence, is appointed as Government Director on the Board of the Company in place of Lt General Nitin Kohli, VSM, SO-in-C (since retired) vide Government of India order dated 07 November 2016 with immediate effect.

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Dhar Textile Mills announces resignation of director
Nov 07,2016

Dhar Textile Mills announced that Pankaj Sinahal, an Independent Director of the Company has vide his letter dated 05 November 2016 has resigned from the Company w.e.f. 05 November 2016 due to his pre-occupation.

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Visa Steel director resigns
Nov 07,2016

Visa Steel announced that Shiv Dayal Kapoor has resigned as an Independent Director of the Company w.e.f. 04 November 2016.

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Proposed Regulation on Criteria for Leasing of Foreign Registered Aircraft by Indian Operators for Operation by Indian Crew
Nov 07,2016

To boost the growth of the civil aviation sector and in particular the regional air connectivity scheme, DGCA has proposed a new regulation on criteria for leasing of foreign registered aircraft by Indian operators for operation by Indian crew. This regulation will enable operators to import foreign registered aircrafts and operate them on foreign registration with Indian crew. This will also make the aircraft leasing environment user friendly.

The proposed regulations lay emphasis on airworthiness, training, operation and safety oversight aspects. Before such arrangement would be permitted, both the State of Operator and the State of Registry would have to sign a Memorandum of Understanding on oversight responsibility. This proposal is at a draft stage and is being put up for public consultation. It is likely to be finalized by the second week of Dec 2016.

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Canara Bank gets ratings assigned for proposed issue of Tier I Bonds
Nov 07,2016

Canara Bank has received ratings from the following Credit Rating Agencies for the proposed issue of Basel III Compliant Tier I Bonds aggregating Rs 2500 crore:

CRISIL : has assigned a CRISIL AA/Negative (pronounced CRISIL Double A rating with Negative outlook).

India Ratings & Research : has assigned the IND AA rating with Stable Outlook.

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Canara Bank gets ratings assigned for proposed issue of Tier I Bonds
Nov 07,2016

Canara Bank has received ratings from the following Credit Rating Agencies for the proposed issue of Basel III Compliant Tier I Bonds aggregating Rs 2500 crore:

CRISIL : has assigned a CRISIL AA/Negative (pronounced CRISIL Double A rating with Negative outlook).

India Ratings & Research : has assigned the IND AA rating with Stable Outlook.

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Amrutanjan Health Care to consider September quarter results and interim dividend
Nov 07,2016

Amrutanjan Health Care announced that a meeting of the Board of Directors is scheduled to be held on 10 November 2016, inter alia, to consider and approve the following:

1. Unaudited Standalone Financial Results together with Limited Review Report of the Auditors for the quarter/half yearly ending 30 September 2016;

2. Declaration of Interim Dividend on quarterly basis & approval of 1st Interim Dividend for the year 2016-17.

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Amrutanjan Health Care to consider September quarter results and interim dividend
Nov 07,2016

Amrutanjan Health Care announced that a meeting of the Board of Directors is scheduled to be held on 10 November 2016, inter alia, to consider and approve the following:

1. Unaudited Standalone Financial Results together with Limited Review Report of the Auditors for the quarter/half yearly ending 30 September 2016;

2. Declaration of Interim Dividend on quarterly basis & approval of 1st Interim Dividend for the year 2016-17.

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Amrutanjan Health Care fixes record date for 1st interim dividend
Nov 07,2016

Amrutanjan Health Care has fixed 18 November 2016 as the Record Date for the purpose of Payment of First Interim Dividend, if approved.

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Board of Gujarat Metallic Coal & Coke to consider September quarter results
Nov 07,2016

Gujarat Metallic Coal & Coke announced that a meeting of the Board of Directors of the Company would be held on 14 November 2016, inter alia, to consider and take on record un-audited financial result of the Company for the quarter ended 30 September 2016.

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Board of Gujarat Metallic Coal & Coke to consider September quarter results
Nov 07,2016

Gujarat Metallic Coal & Coke announced that a meeting of the Board of Directors of the Company would be held on 14 November 2016, inter alia, to consider and take on record un-audited financial result of the Company for the quarter ended 30 September 2016.

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Board of N2N Technologies to consider financial results for FY 2016 & September quarter
Nov 07,2016

N2N Technologies announced that a meeting of the Board of Directors of the Company will be held on 12 November 2016, inter alia,

- to consider & approve the Audited consolidated financial results for the financial year ended 31 March 2016

- to consider & approve the Unaudited standalone financial results for the quarter ended 30 September 2016

- To convene the Annual General Meeting of the company

For the above purpose, as per Companys code of conduct for a prevention of insider trading, the trading window for dealing in the securities of the Company shall remain closed for all the directors / designated employees / relatives of designated persons/auditors / consultants of the Company from 05 November 2016 to 14 November 2016 (both days inclusive).

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Board of N2N Technologies to consider financial results for FY 2016 & September quarter
Nov 07,2016

N2N Technologies announced that a meeting of the Board of Directors of the Company will be held on 12 November 2016, inter alia,

- to consider & approve the Audited consolidated financial results for the financial year ended 31 March 2016

- to consider & approve the Unaudited standalone financial results for the quarter ended 30 September 2016

- To convene the Annual General Meeting of the company

For the above purpose, as per Companys code of conduct for a prevention of insider trading, the trading window for dealing in the securities of the Company shall remain closed for all the directors / designated employees / relatives of designated persons/auditors / consultants of the Company from 05 November 2016 to 14 November 2016 (both days inclusive).

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