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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 Precision Containeurs to consider September quarter and half year results
Nov 09,2016

Precision Containeurs announced that the meeting of the Board of Directors of the Company is scheduled to be held on 14 November 2016, inter alia, to consider and approve the Unaudited Financial Results for the Quarter and Half Year ended on 30 September 2016.

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Board of Shreenath Investment Company to consider September quarter results
Nov 09,2016

Shreenath Investment Company announced that a Meeting of the Board of Directors of the Company is scheduled to be held on 14 November 2016, to consider, approve and take on record of Un-audited Financial Result together with Limited Review Report for the quarter ended 30 September 2016.

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Board of Shreenath Investment Company to consider September quarter results
Nov 09,2016

Shreenath Investment Company announced that a Meeting of the Board of Directors of the Company is scheduled to be held on 14 November 2016, to consider, approve and take on record of Un-audited Financial Result together with Limited Review Report for the quarter ended 30 September 2016.

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Hindalco Industries skids on equity dilution concerns
Nov 09,2016

The announcement was made during market hours today, 9 November 2016.

Meanwhile, the S&P BSE Sensex was down 947.46 points or 3.43% at 26,643.68.

On BSE, so far 7.72 lakh shares were traded in the counter as against average daily volume of 13.42 lakh shares in the past one quarter. The stock hit a high of Rs 163.40 and a low of Rs 151.05 so far during the day. The stock had hit a 52-week high of Rs 172.25 on 8 November 2016. The stock had hit a 52-week low of Rs 58.85 on 12 February 2016. The stock outperformed the market over the past one month till 8 November 2016, gaining 6.17% compared with the Sensexs 1.67% fall. The scrip also outperformed the market in past one quarter, gaining 12.54% as against the Sensexs 2.1% decline.

The large-cap company has equity capital of Rs 206.52 crore. Face value per share is Rs 1.

Hindalco Industries announced that a meeting of the board of directors of the company is scheduled on 12 November 2016 to consider among other items, approval of raising of funds by issue of equity shares, global depository receipts/American depository receipts/, foreign currency convertible bonds/, fully convertible debentures/partly convertible debentures/ preference shares convertible into equity shares, and/or any other financial instruments convertible into equity shares (including warrants, or otherwise, in registered or bearer form) and/or any security convertible into equity shares, combination of any of the aforementioned securities by way of one or more public and/or private offerings, qualified institutions placement and/or on preferential allotment basis or any combination thereof or any other method as may be permitted under applicable law, subject to such approvals as may be required.

Hindalco Industries net profit jumped 381.3% to Rs 294.07 crore on 11.9% decline in net sales to Rs 7501.39 crore in Q1 June 2016 over Q1 June 2015. The company is scheduled to announce Q2 September 2016 results on 12 November 2016.

A part of the Aditya Birla Group, Hindalco Industries is the worlds largest aluminium rolling company and one of the biggest producers of primary aluminium in Asia. Its copper smelter is amongst the largest single location custom smelter globally.

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Prabhat Telecoms (India) announces change in directorate
Nov 09,2016

Prabhat Telecoms (India) announced that Atul Dattatray Bhatkhalkar, Independent Director of the Company has resigned and Board of Directors at its Meeting held on 08 November 2016 has accepted his resignation and accordingly Atul Dattatray Bhatkhalkar ceases to be Independent Director of the Company with effect from 07 November 2016.

Further, the Company in its Board Meeting held on 08 November 2016, Atul Arvind Singh has been appointed as Additional Director of the Company effective from 08 November 2016 by the Board of Directors and shall hold office until the conclusion of next Annual General Meeting.

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Prabhat Telecoms (India) announces change in directorate
Nov 09,2016

Prabhat Telecoms (India) announced that Atul Dattatray Bhatkhalkar, Independent Director of the Company has resigned and Board of Directors at its Meeting held on 08 November 2016 has accepted his resignation and accordingly Atul Dattatray Bhatkhalkar ceases to be Independent Director of the Company with effect from 07 November 2016.

Further, the Company in its Board Meeting held on 08 November 2016, Atul Arvind Singh has been appointed as Additional Director of the Company effective from 08 November 2016 by the Board of Directors and shall hold office until the conclusion of next Annual General Meeting.

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Board of Rolcon Engineering Company appoints directors
Nov 09,2016

Rolcon Engineering Company announced that the Board of Directors of the Company approved the appointment of Ashokbhai Parikh and Anilbhai Gandhi as Additional Directors.

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Board of Rolcon Engineering Company appoints directors
Nov 09,2016

Rolcon Engineering Company announced that the Board of Directors of the Company approved the appointment of Ashokbhai Parikh and Anilbhai Gandhi as Additional Directors.

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Realty stocks tank on Govts black money crackdown
Nov 09,2016

Indiabulls Real Estate (down 22.48%), Housing Development & Infrastructure (down 21.09%), DLF (down 20.92%), Lancor Holdings (down 15.82%), Oberoi Realty (down 13.64%), Unitech (down 13.18%), Kolte-Patil Developers (down 12.56%), D B Realty (down 12.5%), Brigade Enterprises (down 12.32%), Prestige Estates Projects (down 12.05%), Puravankara Projects (down 9.31%), Sobha (down 8.45%), Godrej Properties (down 2.94%) and Omaxe (down 2.74%) edged lower.

The S&P BSE Realty index tanked 210.65 points or 14.27% at 1,265.14. It underperformed the Sensex which was down 956.49 points or 3.47% at 26,634.65.

The S&P BSE Realty index had underperformed the market over the past one month till 8 November 2016, sliding 6.21% compared with 1.67% fall in the Sensex. The index had also underperformed the market in past one quarter, declining 9.59% as against Sensexs 2.1% fall.

In a historical move that will add record strength in the fight against corruption, black money, money laundering, terrorism and financing of terrorists as well as counterfeit notes, the Government of India (GoI) decided that the five hundred and one thousand rupee notes will no longer be legal tender from midnight of 8 November 2016. The GoI accepted the recommendations of the Reserve Bank of India (RBI) to issue two thousand rupee notes and new notes of five hundred rupees will also be placed in circulation. Notes of one hundred, fifty, twenty, ten, five, two and one rupee will remain legal tender and will remain unaffected by the decision. The Prime Minister said the steps taken by GoI would strengthen the hands of the common citizens in the fight against corruption, black money and counterfeit notes.

Persons holding old notes of five hundred or one thousand rupees can deposit these notes in bank or post offices from 10 November 2016 onwards till 30 December 2016, the Prime Minister announced yesterday, 8 November 2016, evening.

Analysts expect that a lot of property purchases may get deferred in the short term in the wake of the governments latest measures to curb black money. Reports suggested that luxury real estate and land prices could correct near term, though it may be a positive over the long run.

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Board of Rotographics (India) to consider September quarter results
Nov 09,2016

Rotographics (India) announced that the next meeting of the Board of Directors of the Company will be held on 14 November 2016, inter-alia, to consider, approve and take on record the Unaudited Financial Results of the company for the quarter ended 30 September 2016.

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Board of Rotographics (India) to consider September quarter results
Nov 09,2016

Rotographics (India) announced that the next meeting of the Board of Directors of the Company will be held on 14 November 2016, inter-alia, to consider, approve and take on record the Unaudited Financial Results of the company for the quarter ended 30 September 2016.

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Board of Williamson Financial Services approve delisting form Calcutta Stock Exchange
Nov 09,2016

Williamson Financial Services announced that the Board of Directors of the Company at its Meeting held on 08 November 2016 passed a Resolution for application for delisting of the Companys Shares from The Calcutta Stock Exchange pursuant to Regulations 6 and 7 of the SEBI (Delisting of Equity Shares) Regulations, 2009.

The Companys Shares will continue to remain listed on BSE Limited being a recognised Stock Exchange having nationwide trading in terms of Regulation 6(a) of the SEBI (Delisting of Equity Shares) Regulations, 2009 read with the Explanation thereof.

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Board of Williamson Financial Services approve delisting form Calcutta Stock Exchange
Nov 09,2016

Williamson Financial Services announced that the Board of Directors of the Company at its Meeting held on 08 November 2016 passed a Resolution for application for delisting of the Companys Shares from The Calcutta Stock Exchange pursuant to Regulations 6 and 7 of the SEBI (Delisting of Equity Shares) Regulations, 2009.

The Companys Shares will continue to remain listed on BSE Limited being a recognised Stock Exchange having nationwide trading in terms of Regulation 6(a) of the SEBI (Delisting of Equity Shares) Regulations, 2009 read with the Explanation thereof.

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Vedavaag Systems Board to consider September quarter and half year results
Nov 09,2016

Vedavaag Systems announced that the meeting of the Board of Directors of the company will be held on 14 November 2016, inter alia, to transact the following business.

To consider and approve the Unaudited financial statements/results for the quarter and half year ended 30 September 2016.

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Vedavaag Systems Board to consider September quarter and half year results
Nov 09,2016

Vedavaag Systems announced that the meeting of the Board of Directors of the company will be held on 14 November 2016, inter alia, to transact the following business.

To consider and approve the Unaudited financial statements/results for the quarter and half year ended 30 September 2016.

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