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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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Board of Chambal Breweries & Distilleries to consider December quarter results
Jan 13,2017

Chambal Breweries & Distilleries announced that a meeting of the Board of Directors of the Company will be held on 25 January 2017 inter alia to transact the following businesses:-

1. To consider and approve the Unaudited Financial Results of the Company for the quarter ended on 31 December 2016:

2. To take on record the Limited Review Report for the quarter ended on 31 December 2016;

3. To take note of Statements pertaining to Grievance Redressal pursuant to Regulation 13 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

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Lumax Industries drops on profit booking
Jan 13,2017

Meanwhile, the S&P BSE Sensex was down 9.10 points or 0.03% at 27,238.06

On BSE, 38,000 shares were traded in the counter as against average daily volume of 9,764 lakh shares in the past two weeks. The stock had hit a high of Rs 1,073 and a low of Rs 990. The stock had hit a record high of Rs 1,083.30 on 12 January 2017. The stock had hit a 52-week low of Rs 356.50 on 12 February 2016.

The small-cap company has equity capital of Rs 9.35 crore. Face value per share is Rs 10.

Lumax Industries consolidated net profit rose 38.53% to Rs 17.76 crore on 1.82% rise in total income to Rs 310.80 crore in Q2 September 2016 over Q2 September 2015.

Lumax Industries offers a wide array of complete automobile lighting systems and solutions, which includes; stellar quality head lamps and tail lamps, sundry and auxiliary lamps and other related products and accessories for four wheeler, two wheeler, trucks, buses, earth-movers, tractors and a variety of diverse applications.

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Board of IGC Foils appoints company secretary
Jan 13,2017

IGC Foils announced that at the meeting of the Board of Directors of the Company held on 13 January 2017, the following transactions had been approved in the board meeting:-

- Appointment of Ratan Kumar Sharma as Company Secretary of the Company w.e.f. 16 January 2017.

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Board of V2 Retail to consider December quarter results
Jan 13,2017

V2 Retail announced that the meeting of the Board of Directors of the Company will be held on 25 January 2017, for the purpose of considering and adopting the unaudited Financial Results along with limited review report for the quarter ended 31 December 2016.

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Seshasayee Paper & Boards to announce December quarter results
Jan 13,2017

Seshasayee Paper & Boards announced that a meeting of the Board of Directors of the Company will be held on 04 February 2017 to take on record the Un-audited Financial Results (Provisional) of the Company for the quarter ended 31 December 2016.

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Alka Diamond Industries Board to consider December quarter results
Jan 13,2017

Alka Diamond Industries announced that the meeting of the Board of Directors of the Company is scheduled to be held on 24 January 2017, inter alia, to consider, approve and take on record the Unaudited Financial Results for the quarter ended 31 December 2016.

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Choksi Imaging to announce Q3 and 9M results
Jan 13,2017

Choksi Imaging announced that a meeting of Board of Directors of the Company will be held on 24 January 2017 to consider inter alia the Unaudited (Provisional) Financial results subject to Limited review for the quarter and nine month ended 31 December 2016.

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EPF Statutory dues for the month of December can be paid by 20th January 2017
Jan 13,2017

Considering the issues arising out of stabilisation of the Unified Portal for employers with UAN Based simplified Electronic Challan cum Return filing system the remittance for the month of December 2016 can be paid by 20th January 2017.

The Portal was launched by EPFO on 23.12.2016, which helps in submission of UAN based returns and challans. It has been noticed that due to increased traffic on the portal, many employers have faced some difficulty in upfront allotment of UAN, connectivity/login issues, website slowing down and also unfamiliarity of the new processes. The Statutory dues are to be paid by 15th of every month.

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Board of Koffee Break Pictures to consider December quarter results
Jan 13,2017

Koffee Break Pictures announced that the Board of Directors meeting will be held on 23 January 2017 to consider and approve the unaudited financial results of the Company for the quarter ended 31 December 2016.

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Outcome of board meeting of National Steel & Agro Industries
Jan 13,2017

National Steel & Agro Industries announced that the Board of Directors of the Company at its meeting held on 13 January 2017 has taken on record launch of two new products Nationalume Corrugated Sheet - KAWACH and Colour Coated Profile Sheets - RANGOLI. The Board also appointed Shrikant S Tirpude as Nominee Director of IDBI Bank and accepted resignation of Munish Mohan as Nominee Director of IDBI Bank.

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Tata group stocks gain as N Chandra appointed as new Chairman of Tata Sons
Jan 13,2017

Trent (up 9.39%), Tata Metaliks (up 1.14%), Tata Global Beverages (up 2.6%), Tata Chemicals (up 0.55%), Tata Investment Corporation (up 0.36%), Tata Power Company (up 0.13%), Tata Sponge Iron (up 0.54%), Tata Teleservices (Maharashtra) (up 0.51%), Tata Coffee (up 5.97%) and Rallis India (up 1.81%) edged higher.

Tata Motors (down 0.77%), Tata Steel (down 0.26%), Tata Communications (down 0.11%) and Tinplate Company of India (down 0.24%) fell.

TCS lost 3.73% after consolidated net profit rose 2.9% to Rs 6778 crore on 1.5% increase in revenue to Rs 29735 crore in Q3 December 2016 over Q2 September 2016. The result was announced after market hours yesterday, 12 January 2017. The results are as per International Financial Reporting Standards (IFRS).

Meanwhile, the S&P BSE Sensex was down 8.04 points, or 0.03% at 27,239.12

TCS had after market hours yesterday, 12 January 2017 announced that Rajesh Gopinathan has been appointed as Chief Executive Officer (CEO) and Managing Director of the company. Gopinathan takes over from N Chandrasekaran who has been appointed as the Chairman of Tata Sons.

Earlier, Tata Sons had in October 2016 replaced Cyrus P. Mistry as chairman of Tata Sons. The board had named Ratan N. Tata as interim chairman of Tata Sons at that time. The board had constituted a selection committee to choose a new chairman. The committee was mandated to complete the selection process in four months.

Tata Sons is the promoter of the major operating Tata companies and holds significant shareholdings in most of these companies.

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Board of Farry Industries appoints company secretary
Jan 13,2017

The Board of Directors of Farry Industries at its meeting held on 13 January 2017 appointed Swati Dhanukaas as Company Secretary with effect from 16 January 2017.

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Board of Intellect Design Arena approves rights issue up to Rs 200 crore
Jan 13,2017

Intellect Design Arena announced that the Board of Directors of the Company at its meeting held on 13 January 2017 approved the following -

a) Raising of funds by way of issue of equity shares to the existing shareholders of the company on a rights basis (Rights Issue) upto Rs. 200 crore, subject to all applicable Statutory and Regulatory approvals

b) Adoption of Re-stated financial statements for the last five years

c) Stub-period financials for the half year ended 30 September 2016

d) Taking on record Draft Letter of Offer (DLOF) to be filed with SEBI.

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Board of Intellivate Capital Advisors to consider Q3 and 9M results
Jan 13,2017

Intellivate Capital Advisors announced that a meeting of the Board of Directors of the Company is scheduled to be held on 23 January 2017, inter alia, to consider and approve the Un-audited Financial Results of the Company for the Quarter and Nine Months ended 31 December 2016.

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Board of BNK Capital Markets to consider Q3 results
Jan 13,2017

BNK Capital Markets announced that the Meeting of the Board of Directors of the Company will be held on 28 January 2017 to consider among other things the Un-Audited Financial Results for the 3rd quarter ended on 31 December 2016.

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