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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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Safari Industries (India) to hold AGM
Jul 21,2017

Safari Industries (India) announced that the 37th Annual General Meeting (AGM) of the company will be held on 30 August 2017.

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Mangal Credit & Fincorp to hold board meeting
Jul 21,2017

Mangal Credit & Fincorp will hold a meeting of the Board of Directors of the Company on 27 July 2017.

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Dish TV India leads losers in A group
Jul 21,2017

Dish TV India slumped 6.1% to Rs 77.8 at 13:45 IST on profit booking after the stock gained 6.08% in three sessions to Rs 82.85 yesterday, 21 July 2017, from a close of Rs 78.10 on 17 July 2017. The stock topped the losers in the BSEs A group. On the BSE, 13.79 lakh shares were traded on the counter so far as against the average daily volumes of 3.34 lakh shares in the past two weeks.

Idea Cellular skidded 5.9% at Rs 89.25. The stock was the second biggest loser in A group. On the BSE, 34.66 lakh shares were traded on the counter so far as against the average daily volumes of 29.57 lakh shares in the past two weeks.

Ashok Leyland dropped 4.58% to Rs 101.10. The stock was the third biggest loser in A group. On the BSE, 20.58 lakh shares were traded on the counter so far as against the average daily volumes of 15.96 lakh shares in the past two weeks.

Dewan Housing Finance Corporation declined 4.27% at Rs 456.20. The stock was the fourth biggest loser in A group. On the BSE, 5.3 lakh shares were traded on the counter so far as against the average daily volumes of 2.09 lakh shares in the past two weeks.

DLF fell 4.01% to Rs 194.85. The stock was the fifth biggest loser in A group. On the BSE, 8.67 lakh shares were traded on the counter so far as against the average daily volumes of 7.54 lakh shares in the past two weeks.

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Volumes jump at Vesuvius India counter
Jul 21,2017

Vesuvius India clocked volume of 3.96 lakh shares by 13:44 IST on BSE, a 296.58-times surge over two-week average daily volume of 1,000 shares. The stock surged 7.12% at Rs 1,474.90.

Godrej Consumer Products notched up volume of 16.07 lakh shares, a 88.53-fold surge over two-week average daily volume of 18,000 shares. The stock advanced 1% at Rs 965.90.

3M India saw volume of 10,000 shares, a 51.24-fold surge over two-week average daily volume of 197 shares. The stock lost 0.27% at Rs 13,350.

HDFC clocked volume of 37.55 lakh shares, a 29.01-fold surge over two-week average daily volume of 1.29 lakh shares. The stock fell 0.76% at Rs 1,638.50.

Crompton Greaves Consumer Electricals saw volume of 7.62 lakh shares, a 12.65-fold rise over two-week average daily volume of 60,000 shares. The stock rose 1.31% at Rs 209.

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Indian accounting & finance professionals be given access to overseas market.: ASSOCHAM plea
Jul 21,2017

Apex industry body ASSOCHAM has suggested the Centre to conduct country-specific or geographic market-wise studies to ascertain job prospects for qualified Indian professionals in accountancy, finance, information technology (IT) and related services abroad.

n++Considering the demand and supply of professionals in these sectors, the number of memorandum of undertakings (MoUs) signed by India with several countries may be increased to conduct exchange programmes and exploring job market in favouring countries,n++ highlighted ASSOCHAM in a communication addressed to Union Ministry of Corporate Affairs.

The chamber said that based on the demand analysis, awareness programmes may be organised for professionals like CA/CS/CMA/CFA/MBA both within and outside India.

It added that the focus for awareness programmes should be on ensuring maximum participation of foreign diplomats and MNCs in India as well as Indian companies doing business abroad.

In its communication to the Corporate Affairs Ministry, ASSOCHAM has also said that considering the MBA course comes under purview of the Union Ministry of Human Resource Development (HRD), as such it should also be invited to hold collaborative awareness programs for exploring job opportunities outside India.

n++This will help in revamping the MBA institutions and help them in gaining substantially increased level of interest in MBA/PGDM like professional courses in future,n++ said Mr D.S. Rawat, secretary general of ASSOCHAM.

The chamber has also sought financial support from the Union Government for presenting promotional programmes, events and campaigns about the aforesaid issue.

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Indian Bank turns volatile after announcing Q1 numbers
Jul 21,2017

Meanwhile, the S&P BSE Sensex was up 64.12 points or 0.2% at 31,968.52.

On the BSE, 2.53 lakh shares were traded on the counter so far as against the average daily volumes of 1.89 lakh shares in the past one quarter. The stock was volatile. The stock lost as much as 1.27% at the days low of Rs 326.25 so far during the day. The stock rose as much as 2.66% at the days high of Rs 339.25 so far during the day. The stock had hit a record high of Rs 364.80 on 16 May 2017 and a 52-week low of Rs 143.85 on 25 July 2016.

The stock had outperformed the market over the past one month till 20 July 2017, advancing 9.53% compared with the Sensexs 1.94% rise. The stock had also outperformed the market over the past one quarter, gaining 28.36% as against the Sensexs 8.44% rise. The scrip had also outperformed the market over the past one year, surging 113.88% as against the Sensexs 14.29% rise.

The large-cap state-run bank has equity capital of Rs 480.29 crore. Face value per share is Rs 10.

Indian Banks net profit rose 21.16% to Rs 372.40 crore on 3.79% growth in total income to Rs 4788.04 crore in Q1 June 2017 over Q1 June 2016. The result was announced during market hours today, 21 July 2017.

The banks gross non-performing assets (NPAs) stood at Rs 9653.01 crore as on 30 June 2017 as against Rs 9865.13 crore as on 31 March 2017 and Rs 8894.23 crore as on 30 June 2016.

The ratio of gross NPAs to gross advances stood at 7.21% as on 30 June 2017 as against 7.47% as on 31 March 2017 and 6.97% as on 30 June 2016. The ratio of net NPAs to net advances stood at 4.05% as on 30 June 2017 as against 4.39% as on 31 March 2017 and 4.48% as on 30 June 2016.

The banks provisions and contingencies surged 71.59% to Rs 715.55 crore in Q1 June 2017 over Q1 June 2016.

Government of India held 82.11% stake in Indian Bank (as on 30 June 2017).

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TCI Industries allots 2440 preference shares to Promoter
Jul 21,2017

TCI Industries has allotted 2440, 0% Non-Convertible Redeemable Preference Shares (NCRPS) of Face Value of Rs. 100 each at a premium of Rs. 300 each to Dharmpal Agarwal, Promoter of the Company.

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Board of Reliance Industries approves bonus issue of 1:1
Jul 21,2017

Reliance Industries announced that the Board of Directors of the Company at its meeting held on 21 July 2017, has, subject to approval of members of the Company through postal ballot, recommended issue of Bonus Shares to the members of the Company by capitalisation of its reserves in the ratio of 1 (one) bonus equity share of Rs. 10/- each fully paid-up for every 1 (one) existing equity share of Rs. 10/- each fully paid-up (that is in the ratio of 1:1) held by the members as on a record date to be fixed hereafter for the purpose.

The Company will also seek the approval of members of the Company through postal ballot inter alia for increase in authorised share capital of the Company.

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Bhagyanagar Properties to convene board meeting
Jul 21,2017

Bhagyanagar Properties will hold a meeting of the Board of Directors of the Company on 1 August 2017, to consider the Un-Audited Financial Results of the Company for the Quarter ended 30th June 2017.

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Vardhman Special Steels to conduct board meeting
Jul 21,2017

Vardhman Special Steels will hold a meeting of the Board of Directors of the Company on 29 July 2017, to consider and approve the Un-Audited Financial Results of the Company for the quarter ended 30th June 2017.

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Gammon Infrastructure Projects to discuss results
Jul 21,2017

Gammon Infrastructure Projects will hold a meeting of the Board of Directors of the Company on 27 July 2017, to consider and approve the un-audited financial results of the Company for the quarter ended June 30, 2017.

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Balaji Telefilms to convene EGM
Jul 21,2017

Balaji Telefilms announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 16 August 2017.

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Indo-City Infotech schedules board meeting
Jul 21,2017

Indo-City Infotech will hold a meeting of the Board of Directors of the Company on 28 July 2017, to consider and approve, interalia,the unaudited standalone financial results for the quarter ended 30th June 2017.

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TTI Enterprise to conduct board meeting
Jul 21,2017

TTI Enterprise will hold a meeting of the Board of Directors of the Company on 1 August 2017, to consider the Standalone Unaudited Financial Results for the First Quarter ended 30th June 2017.

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RTS Power Corporation to declare Quarterly Result
Jul 21,2017

RTS Power Corporation will hold a meeting of the Board of Directors of the Company on 1 August 2017, to approve the Directors Report for the Financial Year ended on 31st March, 2017, To fix the Date of next Annual General Meeting

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