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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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Dr Reddys gets healthier after USFDA clears plant after audit
May 26,2017

The announcement was made after market hours yesterday, 25 May 2017.

Meanwhile, the S&P BSE Sensex was up 179.53 points, or 0.63% to 30,945.12.

The stock had dropped 11.15% in six sessions to Rs 2,427.30 yesterday, 25 May 2017 from a close of Rs 2,731.95 on 17 May 2017.

On the BSE, 24,482 shares were traded in the counter so far, compared with average daily volumes of 40,962 shares in the past one quarter.

At the days high of Rs 2,548.75 hit in early trade, the stock had jumped 5%. The stock had hit a low of Rs 2,431.15 so far during the day. The stock had hit a 52-week high of Rs 3,689 on 20 July 2016 and a 52-week low of Rs 2,400 yesterday, 25 May 2017.

The stock had underperformed the market over the past one month till 25 May 2017, dropping 8.25% compared with 2.69% rise in the Sensex. The scrip also underperformed the market in past one quarter, declining 16.01% as against Sensexs 6.43% rise.

The large-cap drug major has equity capital of Rs 82.87 crore. Face value per share is Rs 5.

Dr Reddys Laboratories said that the United States Food & Drug Administration (USFDA) completed the audit of its formulations Srikakulum plant (SEZ) unit II, in Andhra Pradesh on 25 May 2017 with zero observations.

Dr Reddys Laboratories consolidated net profit rose 175.4% to Rs 337.60 crore on 5.4% decline in net sales to Rs 3554.20 crore in Q4 March 2017 over Q4 March 2016.

Dr Reddys Laboratories is an integrated global pharmaceutical company.

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SI Capital & Financial Services to hold board meeting
May 26,2017

SI Capital & Financial Services will hold a meeting of the Board of Directors of the Company on 29 May 2017, to consider, approve and take on record the Audited Financial Results of the company for the quarter and year ended 31st March 2017.

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SFL International to hold board meeting
May 26,2017

SFL International will hold a meeting of the Board of Directors of the Company on 30 May 2017, to consider, approve and sign the Standalone Audited Financial Results of the Company, for the last quarter and financial ended on 31st day of March, 2017, and others.

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Shri Krishna Devcon to hold board meeting
May 26,2017

Shri Krishna Devcon will hold a meeting of the Board of Directors of the Company on 30 May 2017, to consider and approve Audited Financial Results for the Quarter and Year ended on 31st March, 2017.

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Fortune International to hold board meeting
May 26,2017

Fortune International will hold a meeting of the Board of Directors of the Company on 30 May 2017, to consider and approve standalone audited financial results of the company.

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Vibros Organics to hold board meeting
May 26,2017

Vibros Organics will hold a meeting of the Board of Directors of the Company on 29 May 2017, to consider and approve Audited Financial Results for the year ended on 31st March, 2017 .

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Ashoka Refineries to hold board meeting
May 26,2017

Ashoka Refineries will hold a meeting of the Board of Directors of the Company on 30 May 2017, to consider, approve and sign the Standalone Audited Financial Results of the Company, for the last quarter and financial ended on 31st day of March, 2017, and others.

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Laurel Organics to hold board meeting
May 26,2017

Laurel Organics will hold a meeting of the Board of Directors of the Company on 30 May 2017, to consider and approve standalone audited financial results of the company, and Standalone Financial Results (standalone) of the Company for the quarter and year ended on 31st March 2017.

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Info-Drive Software to hold board meeting
May 26,2017

Info-Drive Software will hold a meeting of the Board of Directors of the Company on 30 May 2017, to consider and approve the Stand-Alone and Consolidated Audited Financial Results of the Company for the quarter and year ended March 31, 2017 and Auditors Report thereon.

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Rajeswari Infrastructure to hold board meeting
May 26,2017

Rajeswari Infrastructure will hold a meeting of the Board of Directors of the Company on 30 May 2017, to consider audited financial results for the quarter /year ended 31.03.2017.

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Padmanabh Industries to hold board meeting
May 26,2017

Padmanabh Industries will hold a meeting of the Board of Directors of the Company on 26 May 2017, to consider and approve the audited financial results of the Company for the quarter and year ended on 31st March,2017, Appointment of Vishwas Sharma & Associates as a Secretarial Auditor for the F.Y 2016-17, Appointment of Hemant Vora & Co. as a Internal Auditor for the F.Y 2017-18, Any other item with the permission of the Chair and Majority of Directors, and Issue of Equity shares on the preferential basis.

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Vardhaman Laboratories to hold board meeting
May 26,2017

Vardhaman Laboratories will hold a meeting of the Board of Directors of the Company on 30 May 2017, to consider, approve and take on record Audited Financial Results of the Company for the quarter and Financial Year ended 31st March, 2017.

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ISF to hold board meeting
May 26,2017

ISF will hold a meeting of the Board of Directors of the Company on 30 May 2017, to consider and approve the audited Financial Results for the Quarter ended on 31 March 2017 and Annual Accounts for the year ended on that date, and Other matters.

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Jainco Projects (India) to hold board meeting
May 26,2017

Jainco Projects (India) will hold a meeting of the Board of Directors of the Company on 30 May 2017, to consider and take on record the audited financial results of the company for the year ended 31st March, 2017.

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Board of Nelcast recommends final dividend
May 26,2017

Nelcast announced that the Board of Directors of the Company at its meeting held on 24 May 2017, inter alia, have recommended the final dividend of Rs 0.9 per equity Share (i.e. 45%) , subject to the approval of the shareholders.

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