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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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Cabinet apprised of MoU between India and France in the field of Science, Technology and Innovation
Feb 09,2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has been apprised of the signing of the Memorandum of Understanding (MoU) of Cooperation between Technology Development Board (TDB), Department of Science & Technology, Govt. of India and Bpifrance, a Public Investment Bank, France.

The agreement will ensure exchange of best practices and setting up of coordinated measures to foster technological exchanges in the field of Science, Technology and Innovation through collaboration between companies, organizations and institutions of France and India.

The agreement aims to carry out activities related to exchange of best practices in the field of Science & Technology through the Technology Development Board and Bpifrance.

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Indraprastha Gas scales record high after robust Q3 results
Feb 09,2017

The result was announced after market hours yesterday, 8 February 2017.

Meanwhile, the S&P BSE Sensex was down 97.59 points, or 0.34%, to 28,192.33

On the BSE, 1.48 lakh shares were traded on the counter so far as against the average daily volumes of 58,102 shares in the past one quarter. The stock had hit a high of Rs 1,062 so far during the day, which is also its record high. The stock hit a low of Rs 1,021 so far during the day. The stock had hit a 52-week low of Rs 484.05 on 25 February 2016.

The large-cap company has equity capital of Rs 140 crore. Face value per share is Rs 10.

Indraprastha Gas retails CNG to automobiles and piped cooking gas to households in Delhi and adjoining cities of Ghaziabad, Noida and Greater Noida.

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Canara Bank fixes record date for rights issue
Feb 09,2017

Canara Bank announced that 20 February 2017 has been fixed as a Record Date for the purpose of determining the shareholders eligible to apply for Right Equity Shares in the Issue.

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Bajaj Finance allots NCDs aggregating Rs 363.30 crore
Feb 09,2017

Bajaj Finance has allotted 3663 secured redeemable non-convertible debentures aggregating Rs 363.30 crore on private placement basis on 08 February 2017.

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Ajanta Pharma provides update on USFDA inspection
Feb 09,2017

Ajanta Pharma announced that the Companys Paithan facility was recently inspected by US FDA and the Company has issued one procedural related 483. The Company is in process of responding to the same within the stipulated time prescribed by US FDA.

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Oberoi Realty allots 78,471 equity shares
Feb 09,2017

Oberoi Realty has allotted 78,471 equity shares of Rs 10 each under ESOP 2009. Post this allotment, the equity share capital stands increased to 339495581 equity shares of Rs 10 each aggregating Rs 339.49 crore.

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Hero MotoCorp trims early gains after muted Q3 outcome
Feb 09,2017

The result was announced after market hours yesterday, 8 February 2017.

Meanwhile, the S&P BSE Sensex was up 44.18 points, or 0.16%, to 28,334.10

On BSE, so far 14,000 shares were traded in the counter, compared with average daily volume of 27,522 shares in the past one quarter. The stock hit a high of Rs 3,312 and a low of Rs 3,228 so far during the day. The stock hit a record high of Rs 3,739.90 on 8 September 2016. The stock hit a 52-week low of Rs 2,440 on 17 February 2016.

The large-cap company has equity capital of Rs 39.94 crore. Face value per share is Rs 2.

Hero MotoCorps earnings before interest, taxes, depreciation and amortization (EBITDA) margin improved to 15.65% in Q3 December 2016 from 14.48% in Q3 December 2015.

Hero MotoCorp said that even in the midst of a volatile market environment, the company has been able to maintain a healthy operating margin, through the sustained success of Leap - the margin rationalisation programme. The company also utilised the softening of material costs during the period.

The companys sales fell 12.84% to 14.73 lakh units in Q3 December 2016 over Q3 December 2015.

Pawan Munjal, Chairman, Managing Director & Chief Executive Officer, Hero MotoCorp that Q3 December 2016 was historic, with the government taking an unprecedented and bold move to bring about digitization of the economy, higher tax compliance and creating a transparent and inclusive financial system. The industry did witness some negative sentiments during the quarter, but with the agility shown by the government in bringing about a slew of measures to aid the citizens at large, the market scenario has now begun improving.

Hero MotoCorp is the worlds largest two-wheeler manufacturer in terms of production capacity. The company has six manufacturing plants, including five in India including Dharuhera, Gurgaon, Haridwar, Neemrana and Halol and one in Colombia.

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Premier Energy & Infrastructure director resigns
Feb 09,2017

Premier Energy & Infrastructure announced that R. Kohila (Independent Director) has resigned from the Board from the post of Directorship with effect from 01 January 2017 by passing resolution by circulation on 08 February 2017.

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Yes Bank allots 1,18,190 equity shares
Feb 09,2017

Yes Bank has allotted 1,18,190 (One Lakh Eighteen Thousand One Hundred and Ninety) equity shares of face value of Rs. 10/- each on 08 February 2017 under the JESOP IV, JESOP V, PESOP I and PESOP II - 2010.

The paid up share capital of the Bank has accordingly been increased from Rs. 423,23,88,530/- consisting of 42,32,38,853 equity shares of Rs. 10/- each to Rs. 423,35,70,430/- consisting of 42,33,57,043 equity shares of Rs. 10/- each.

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Aarey Drugs & Pharmaceuticals to develop Caffeine drug as its new product
Feb 09,2017

Aarey Drugs & Pharmaceuticals announced that the Company after technical and financial analysis has along with its product development team planned to develop caffeine drug as its new product.

Caffeine is a central nervous system stimulant of methylaxnthine class, which is legal and unregulated in nearly all parts of the world.

The same is a forward integration step for one of its already existing products di methyl urea

Lab scale trials for the same have already been carried out successfully by the Company.

Further the Company is in the process of appointing a technical consultant for the process and plans to start commercial production in due course.

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Diamant Infrastructure to hold board meeting
Feb 09,2017

Diamant Infrastructure will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider & approve Un Audited Financial Results for the Quarter Ended 31 December 2016.

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Board of Manappuram Finance recommends dividend
Feb 09,2017

Manappuram Finance announced that the Board of Directors of the Company at its meeting held on 8 February 2017, inter alia, have recommended the dividend of Rs 0.5 per equity Share (i.e. 25%) , subject to the approval of the shareholders.

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Trilogic Digital Media to hold board meeting
Feb 09,2017

Trilogic Digital Media will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider and take on record the Unaudited Financial Results of the Company for the Quarter ended 31 December 2016.

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SVOGL Oil Gas & Energy to hold board meeting
Feb 09,2017

SVOGL Oil Gas & Energy will hold a meeting of the Board of Directors of the Company on 11 February 2017.

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Indian Extraction to hold board meeting
Feb 09,2017

Indian Extraction will hold a meeting of the Board of Directors of the Company on 14 February 2017.

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