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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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Mukand reports standalone net loss of Rs 60.27 crore in the March 2017 quarter
May 24,2017

Net loss of Mukand reported to Rs 60.27 crore in the quarter ended March 2017 as against net profit of Rs 6.02 crore during the previous quarter ended March 2016. Sales rose 1.37% to Rs 688.42 crore in the quarter ended March 2017 as against Rs 679.11 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 41.81 crore in the year ended March 2017 as against net profit of Rs 1.62 crore during the previous year ended March 2016. Sales declined 1.23% to Rs 2697.41 crore in the year ended March 2017 as against Rs 2730.99 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales688.42679.11 1 2697.412730.99 -1 OPM %7.2713.18 -12.2112.21 - PBDT-12.8426.92 PL 77.3976.13 2 PBT-31.068.33 PL 6.432.14 200 NP-60.276.02 PL -41.811.62 PL

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Bayer CropScience reports standalone net loss of Rs 36.10 crore in the March 2017 quarter
May 24,2017

Net loss of Bayer CropScience reported to Rs 36.10 crore in the quarter ended March 2017 as against net profit of Rs 19.40 crore during the previous quarter ended March 2016. Sales declined 52.06% to Rs 215.30 crore in the quarter ended March 2017 as against Rs 449.10 crore during the previous quarter ended March 2016.

For the full year,net profit declined 7.65% to Rs 291.00 crore in the year ended March 2017 as against Rs 315.10 crore during the previous year ended March 2016. Sales rose 1.22% to Rs 2802.80 crore in the year ended March 2017 as against Rs 2769.00 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales215.30449.10 -52 2802.802769.00 1 OPM %-26.994.56 -14.7615.70 - PBDT-44.2035.20 PL 476.80506.30 -6 PBT-52.3028.90 PL 447.90481.60 -7 NP-36.1019.40 PL 291.00315.10 -8

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Adani Ports & Special Economic Zone to hold EGM
May 24,2017

Adani Ports & Special Economic Zone announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 27 June 2017 .

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Board of Welcast Steels recommends final dividend
May 24,2017

Welcast Steels announced that the Board of Directors of the Company at its meeting held on 22 May 2017, inter alia, have recommended the final dividend of Rs 2 per equity Share (i.e. 20%) , subject to the approval of the shareholders.

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Rupee reverts losses
May 24,2017

Rupee closed higher at 64.7650/7725 per dollar on Wednesday (24 May 2017), versus its previous close of 64.9450/9475 per dollar.

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Board of Viaan Industries approves acquisition in UK
May 24,2017

The Board of Directors of Viaan Industries in its meeting held on 24 May 2017 have approved an acquisition in London, United Kingdon

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Outcome of board meeting of Dish TV India
May 24,2017

Dish TV India announced that the Board of Directors of the Company at its meeting held on 24 May 2017 have approved the allotment of 28,290 fully paid up equity shares of Re.1/- each to 1 (One) eligible Employee, pursuant to the ESOP - 2007 Scheme of the Company. The Board also approved investment in and incorporation of a wholly owned subsidiary to initiate the OTT business.

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Board of Shalimar Paints approves change in directorate
May 24,2017

Shalimar Paints announced the induction of Alok Perti as Independent Director of the company and resignation of Rajiv Rajvanshi from directorship of the company. The Board accepted the change in directorate at meeting held on 24 May 2017.

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Amara Raja Batteries to pay dividend
May 24,2017

Amara Raja Batteries announced that dividend, if approved by the shareholders at the ensuing annual general meeting of the Company scheduled to be held on 07 August 2017, shall be paid on or before 31 August 2017.

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Sona Koyo Steering Systems to pay dividend
May 24,2017

Sona Koyo Steering Systems announced that dividend on Equity Shares, if declared, at the forthcoming Annual General Meeting scheduled to be held on 22 August 2017, will be dispatched to the shareholders of the Company between 29 August 2017 to 02 September 2017.

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FPIs in selling mode
May 24,2017

Foreign portfolio investors (FPIs) sold stocks worth a net Rs 343.56 crore into the secondary equity markets on 23 May 2017, compared with net inflow of Rs 888.53 crore on 22 May 2017. On that day, the Sensex had lost 205.72 points or 0.67% to settle at 30,365.25, its lowest closing level since 15 May 2017.

The net outflow of Rs 343.56 crore on 23 May 2017 was a result of gross purchases of Rs 5779.65 crore and gross sales of Rs 6123.21 crore.

There was a net outflow of Rs 22.52 crore from the category primary market & others on 23 May 2017, which was a result of gross purchases of Rs 2.85 crore and gross sales of Rs 25.37 crore.

FPIs have purchased stocks worth a net Rs 2722.04 crore from the secondary equity markets in May 2017 so far (till 23 May 2017). They sold stocks worth a net Rs 1645.32 crore in April 2017.

FPIs have purchased shares worth a net Rs 37564.19 crore from the secondary equity markets in calendar year 2017 so far (till 23 May 2017). They had purchased shares worth a net Rs 12094.42 crore from the secondary equity markets in calendar year 2016.

FPIs have purchased stocks worth a net Rs 5136.88 crore from the category primary market & others in May 2017 so far (till 23 May 2017). They had bought stocks worth a net Rs 4039.81 crore from the category primary market & others in April 2017.

FPIs have purchased shares worth a net Rs 12320.80 crore from the category primary markets & others in calendar year 2017 so far (till 23 May 2017). The net inflow from FPIs into the category primary markets & others had totaled Rs 8471.76 crore in calendar year 2016.

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India Cements fixes record date for scheme of amalgamation and arrangement
May 24,2017

India Cements announced that the Board of Directors of the Company have fixed 09 June 2017 as record date for determining the Shareholders of Trinetra Cement (First Transferor Company) and Trishul Concrete Products (Second Transferor Company), entitled to receive the equity shares of The India Cements (Transferee Company), under the Scheme sanctioned by the Honble National Company Law Tribunal, Division Bench, Chennai (NCLT), vide its Orders dated 13 April 2017 and 20 April 2017.

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Board of Sundram Fasteners approves scheme of amalgamation
May 24,2017

Sundram Fasteners announced that the Board of Directors of the Company at its meeting held on 24 May 2017 has approved the scheme of amalgamation between Sundram Precision Components, a wholly owned subsidiary with Sundram Fasteners and their respective shareholders.

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Board of Allcargo Logistics recommends dividend
May 24,2017

Allcargo Logistics announced that the Board of Directors of the Company at its meeting held on 22 May 2017, inter alia, have recommended the dividend of Rs 2 per equity Share (i.e. 100%) , subject to the approval of the shareholders.

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Board of Precision Camshafts recommends final dividend
May 24,2017

Precision Camshafts announced that the Board of Directors of the Company at its meeting held on 22 May 2017, inter alia, have recommended the final dividend of Rs 1.5 per equity Share (i.e. 15%) , subject to the approval of the shareholders.

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