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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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Ador Multi Products reports consolidated net profit of Rs 1.74 crore in the December 2016 quarter
Feb 09,2017

Net profit of Ador Multi Products reported to Rs 1.74 crore in the quarter ended December 2016 as against net loss of Rs 0.19 crore during the previous quarter ended December 2015. Sales rose 38.14% to Rs 1.63 crore in the quarter ended December 2016 as against Rs 1.18 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales1.631.18 38 OPM %-15.34-9.32 - PBDT1.81-0.14 LP PBT1.74-0.19 LP NP1.74-0.19 LP

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Elecon Engineering Company reports consolidated net loss of Rs 9.48 crore in the December 2016 quarter
Feb 09,2017

Net loss of Elecon Engineering Company reported to Rs 9.48 crore in the quarter ended December 2016 as against net profit of Rs 7.16 crore during the previous quarter ended December 2015. Sales declined 13.42% to Rs 284.32 crore in the quarter ended December 2016 as against Rs 328.38 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales284.32328.38 -13 OPM %9.165.97 - PBDT2.5827.51 -91 PBT-11.5811.50 PL NP-9.487.16 PL

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Apunka Invest Commercial reports standalone net profit of Rs 0.02 crore in the December 2016 quarter
Feb 09,2017

Net profit of Apunka Invest Commercial reported to Rs 0.02 crore in the quarter ended December 2016 as against net loss of Rs 0.02 crore during the previous quarter ended December 2015. Sales declined 42.31% to Rs 0.15 crore in the quarter ended December 2016 as against Rs 0.26 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales0.150.26 -42 OPM %13.33-7.69 - PBDT0.02-0.02 LP PBT0.02-0.02 LP NP0.02-0.02 LP

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Board of Chokhani Securities approves change in CEO
Feb 09,2017

Chokhani Securities announced that the Board of Directors of the Company at its meeting held on 09 February 2017 approved the appointment of Sunil Sharma as CEO of the Company with effect from 09 February 2017. The Board accepted the resignation of Prashant Solanki as CEO with effect from 09 February 2017.

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Edelweiss Financial Services declares interim dividend
Feb 09,2017

Edelweiss Financial Services announced that the Board of Directors of the Company at their meeting held on 09 February 2017, inter alia, have declared an interim dividend of Re. 1/- per equity share of the face value of Re. 1/- each.

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National Fittings declares interim dividend
Feb 09,2017

National Fittings announced that the Board of Directors of the Company at its meeting held on 09 February 2017, inter alia, has declared an interim dividend of Rs. 2/- per equity share of Rs. 10/- each.

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Cabinet approves MoU between India and Senegal in the field of Health and Medicine
Feb 09,2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval for signing a Memorandum of Understanding (MoU) between India and Senegal in the field of Health and Medicine.

The main areas of cooperation between the Parties will include the following:

i. Integrated Disease Surveillance

ii. Medical Research

iii. Emergency Relief

iv. Hospital Management

v. Drugs and Pharmaceutical products/hospital equipments

vi. Traditional Medicine

vii. AIDS Control

viii. Any other areas of mutual interest

A Working Group will be set up to further elaborate the details of cooperation and to oversee the implementation of this MoU.

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Castrol India to hold board meeting
Feb 09,2017

Castrol India will hold a meeting of the Board of Directors of the Company on 21 February 2017, to consider and approve the Audited Financial Results of the Company for the year ended 31 December 2016 & To consider dividend

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Akar Tools to hold board meeting
Feb 09,2017

Akar Tools will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider the Unaudited Financial Results of the Company for the Quarter ended on 31 December 2016

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Kavveri Telecom Products to hold board meeting
Feb 09,2017

Kavveri Telecom Products will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider, approve and authenticate the Un-Audited financial results of the Company for the Third quarter ended on 31 December 2016.

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Varun Beverages to hold board meeting
Feb 09,2017

Varun Beverages will hold a meeting of the Board of Directors of the Company on 20 February 2017, to consider and approve the Annual audited financial results, both on standalone and consolidated basis, of the Company for the Financial Year ended on 31 December 2016, Issue of Debt Securities.

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Gopala Polyplast to hold EGM
Feb 09,2017

Gopala Polyplast announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 25 March 2017.

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Padmalaya Telefilms to hold board meeting
Feb 09,2017

Padmalaya Telefilms will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider, approve and authenticate the Un-Audited financial results of the Company for the Third quarter ended on 31 December 2016.

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Salguti Industries to hold board meeting
Feb 09,2017

Salguti Industries will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider, approve and authenticate the Un-Audited financial results of the Company for the Third quarter ended on 31 December 2016.

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Gammon India to hold board meeting
Feb 09,2017

Gammon India will hold a meeting of the Board of Directors of the Company on 15 February 2017, to consider and approve the Unaudited Financial Results of the Company for the quarter ended 31 December 2016.

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