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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 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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Proposed Regulation to Ensure that Pilots Adhere to Flight Duty Assignments
Nov 07,2016

Cases often come to the notice of DGCA where some pilots employed with air transport undertakings do not adhere to their assigned flight duties, at times reporting sick. This has a bearing on flight safety and public interest, leading to last minute flight delays or cancellation, thereby causing inconvenience and harassment to the passengers. Against this background, DGCA has proposed a regulation under the provision of Rule 39A(2) of the Aircraft Rules, 1937.

As per the proposed regulation, any act on the part of pilots wherein they are found to falsely report illness to escape flight duty, report late to the aircraft, do not undertake the flight even after reporting for flight duty or are unwilling to follow the dynamic roster well within the FDTL, which results in last minute flight disruptions and may imperil safety of aircraft operations, would be treated as an act against public interest, and the pilots would be liable for enforcement action against them. The 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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Titaanium Ten Enterprise Board to consider September half yearly results
Nov 07,2016

Titaanium Ten Enterprise announced that the meeting of the Board of Director of the Company will be held on 14 November 2016. The following business will be transacted at the meeting:

- To consider and approve half yearly Un-Audited Financial Results for period ended on 30 September 2016.

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Titaanium Ten Enterprise Board to consider September half yearly results
Nov 07,2016

Titaanium Ten Enterprise announced that the meeting of the Board of Director of the Company will be held on 14 November 2016. The following business will be transacted at the meeting:

- To consider and approve half yearly Un-Audited Financial Results for period ended on 30 September 2016.

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Blue Coast Hotels to consider September quarter and half year results
Nov 07,2016

Blue Coast Hotels announced that a meeting of Board of Directors of the Company scheduled on 14 November 2016 inter alia, to consider, approve and take on record the un-audited Financial Results of the Company for the quarter and half year ended 30 September 2016.

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Blue Coast Hotels to consider September quarter and half year results
Nov 07,2016

Blue Coast Hotels announced that a meeting of Board of Directors of the Company scheduled on 14 November 2016 inter alia, to consider, approve and take on record the un-audited Financial Results of the Company for the quarter and half year ended 30 September 2016.

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G R Cables to consider September quarter results
Nov 07,2016

G R Cables announced that a meeting of Board of Directors of the Company will be held on14 November 2016, inter alia, to consider and to take on record the Un-Audited Financial Results for the quarter ended 30 September 2016.

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G R Cables to consider September quarter results
Nov 07,2016

G R Cables announced that a meeting of Board of Directors of the Company will be held on14 November 2016, inter alia, to consider and to take on record the Un-Audited Financial Results for the quarter ended 30 September 2016.

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Radhika Jeweltech to hold board meeting
Nov 07,2016

Radhika Jeweltech will hold a meeting of the Board of Directors of the Company on 12 November 2016 to consider, approve & take on record the Unaudited Financial Results of the Company for the half year ended on 30 September, 2016.

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Radhika Jeweltech to hold board meeting
Nov 07,2016

Radhika Jeweltech will hold a meeting of the Board of Directors of the Company on 12 November 2016 to consider, approve & take on record the Unaudited Financial Results of the Company for the half year ended on 30 September, 2016.

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Thakkers Developers to hold board meeting
Nov 07,2016

Thakkers Developers will hold a meeting of the Board of Directors of the Company on 14 November 2016 to take on record of Unaudited Financial Results for the Quarter ended 30 September, 2016.

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Sky Industries to hold board meeting
Nov 07,2016

Sky Industries will hold a meeting of the Board of Directors of the Company on 14 November 2016 to consider the un-audited Financial Results of the company for the quarter ended 30 September, 2016.

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Karnavati Finance to hold board meeting
Nov 07,2016

Karnavati Finance will hold a meeting of the Board of Directors of the Company on 14 November 2016 to consider, approve & take on record the Unaudited Financial Results of the Company for the half year ended on 30 September, 2016.

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Yuvraaj Hygiene Products to hold board meeting
Nov 07,2016

Yuvraaj Hygiene Products will hold a meeting of the Board of Directors of the Company on 14 November 2016.

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Megh Mayur Infra to hold board meeting
Nov 07,2016

Megh Mayur Infra will hold a meeting of the Board of Directors of the Company on 14 November 2016 to consider and approve the Unaudited Financial Results of the Company for the Second Quarter and Half year ended on 30 September, 2016 for the F.Y. 2016-2017.

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