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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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Manvijay Development Company will hold a meeting of the Board of Directors of the Company on 11 November 2016, to consider and approve the Unaudited Financial Results of the Company for half year ended 30 September 2016.

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RGF Capital Markets will hold a meeting of the Board of Directors of the Company on 14 November 2016, to consider the unaudited accounts of the Company for the quarter & half ended on 30 September 2016.

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Mahaveer Infoway will hold a meeting of the Board of Directors of the Company on 11 November 2016.

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Sanmit Infra will hold a meeting of the Board of Directors of the Company on 11 November 2016, to consider the un-audited Financial Results of the company for the quarter ended 30 September 2016.

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Trio Mercantile & Trading will hold a meeting of the Board of Directors of the Company on 13 November 2016, to consider and to take on record the unaudited financial results of the Company for the quarter and half year ended on 30 September 2016.

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Suryachakra Power Corp. will hold a meeting of the Board of Directors of the Company on 14 November 2016, to consider and approve the Un-Audited Financial Results of the Company for the quarter ended 30 September 2016.

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Chadha Papers will hold a meeting of the Board of Directors of the Company on 11 November 2016, to consider and approve the Un-Audited Standalone Financial Results of the Company for the quarter ended on 30 September 2016.

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Water Level of 91 Major Reservoirs of the Country goes down by One Per cent
Nov 04,2016

The water storage available in 91 major reservoirs of the country for the week ending on November 03, 2016 was 113.034 BCM, which is 72% of total storage capacity of these reservoirs. This was 130% of the storage of corresponding period of last year and 99% of storage of average of last ten years.

The total storage capacity of these 91 reservoirs is 157.799 BCM which is about 62% of the total storage capacity of 253.388 BCM which is estimated to have been created in the country. 37 Reservoirs out of these 91 have hydropower benefit with installed capacity of more than 60 MW.

REGION WISE STORAGE STATUS:-

NORTHERN REGION

The northern region includes States of Himachal Pradesh, Punjab and Rajasthan. There are 6 reservoirs under Central Water Commission (CWC) monitoring having total live storage capacity of 18.01 BCM. As per Reservoir Storage Bulletin dated 03.11.2016, the total live storage available in these reservoirs is 12.06 BCM which is 67% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 77% and average storage of last ten years during corresponding period was 76% of live storage capacity of these reservoirs. Thus, storage during current year is less than the corresponding period of last year and is also less than the average storage of last ten years during the corresponding period.

EASTERN REGION

The Eastern region includes States of Jharkhand, Odisha, West Bengal and Tripura. There are 15 reservoirs under CWC monitoring having total live storage capacity of 18.83 BCM. As per Reservoir Storage Bulletin dated 03.11.2016, the total live storage available in these reservoirs is 15.77 BCM which is 84% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 64% and average storage of last ten years during corresponding period was 74% of live storage capacity of these reservoirs. Thus, storage during current year is better than the corresponding period of last year and is also better than the average storage of last ten years during the corresponding period.

WESTERN REGION

The Western region includes States of Gujarat and Maharashtra. There are 27 reservoirs under CWC monitoring having total live storage capacity of 27.07 BCM. As per Reservoir Storage Bulletin dated 03.11.2016, the total live storage available in these reservoirs is 23.14 BCM which is 85% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 56% and average storage of last ten years during corresponding period was 78% of live storage capacity of these reservoirs. Thus, storage during current year is better than the storage of last year and is also better than the average storage of last ten years during the corresponding period.

CENTRAL REGION

The Central region includes States of Uttar Pradesh, Uttarakhand, Madhya Pradesh and Chhattisgarh. There are 12 reservoirs under CWC monitoring having total live storage capacity of 42.30 BCM. As per Reservoir Storage Bulletin dated 03.11.2016, the total live storage available in these reservoirs is 37.80 BCM which is 89% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 69% and average storage of last ten years during corresponding period was 68% of live storage capacity of these reservoirs. Thus, storage during current year is better than the storage of last year and is also better than the average storage of last ten years during the corresponding period.

SOUTHERN REGION

The Southern region includes States of Andhra Pradesh, Telangana, AP&TG (Two combined projects in both states) Karnataka, Kerala and Tamil Nadu. There are 31 reservoirs under CWC monitoring having total live storage capacity of 51.59 BCM. As per Reservoir Storage Bulletin dated 03.11.2016, the total live storage available in these reservoirs is 24.26 BCM which is 47% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 32% and average storage of last ten years during corresponding period was 72% of live storage capacity of these reservoirs. Thus, storage during current year is better than the corresponding period of last year but is less than the average storage of last ten years during the corresponding period.

States having better storage than last year for corresponding period are Punjab, Rajasthan, Jharkhand, Odisha, West Bengal, Gujarat, Maharashtra, Uttar Pradesh, Madhya Pradesh, Chhattisgarh, AP&TG (Two combined projects in both states), Andhra Pradesh, Telangana and Karnataka. State having equal storage than last year for corresponding period is Uttarakhand. States having lesser storage than last year for corresponding period are Himachal Pradesh, Tripura, Kerala and Tamil Nadu.

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