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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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State/UT-wise number of beneficiaries of ESIC increased by 5% in 2015-16 over the same period in 2014-15
Nov 21,2016

The State/UTs-wise number of beneficiaries of Employees State Insurance Corporation (ESIC) increased by 5% in 2015-16 over the same period in 2014-2015. The number of beneficiaries of ESIC during the years 2013-14, 2014-2015 & 2015-2016 is given below in table.

For the organised sector, the ESIC has decided to fully cover 393 partially implemented districts. It has also decided to extend the coverage to remaining non-implemented districts by 31.03.2017. As regards, un-organised sector, the ESIC has already launched/approved two separate schemes to provide medical facilities to selected category of self-employed workers like Auto-rickshaw drivers and Domestic workers and their family members on pilot basis at Delhi & Hyderabad. A Committee, under the chairpersonship of Secretary (Labour & Employment) has also been set up to bring various Scheme workers like Anganwadi, ASHA and Mid-day Meal workers under Social Security net through ESIC/EPFO.

For extending the coverage, the survey has already been started and final estimates are not available.

The ESIC has decided to upgrade its dispensaries into six bedded hospitals in a phased manner. For Uttar Pradesh and Delhi, approval is already given as per details below in table.

Total no. of beneficiaries for the year 2013-14, 2014-15 & 2015-16S.No.State/U.T2013-142014-152015-161Andhra Pradesh6135716

 

6387994

 

24436632Telangana44708083Assam, Meghalaya, Nagaland, Sikkim & Tripura4724685362946177354Bihar4590435072325572075Chandigarh U.T.3832284008044242396Chhattisgarh972794105408010547787Delhi4766347459609249687678Goa6200246427616618509Gujarat34932803752076399674910Haryana56455166080309650684011H.P.83055388611491311912J & K31210734213836068513Jharkhand95242495176497244414Karnataka83240748636919925705915Kerala29593153007000299617516Madhya Pradesh18800921985124212158417Maharashtra90999199125216931312518Odisha13677391467688155037019Puducherry39370438563339288920Punjab31509093116803312118821Rajasthan26467032890173306442422Tamil-Nadu10220036109088521135687623Uttar Pradesh46926275063982512229824Uttrakhand14054141458143160837625West Bengal466073447535825030847Total758447667893677382884095

 

 

Sl. No.

Name of DispensaryState/UT1ESIC Dispensary, Factory Road, Sarojini NagarDelhi2ESIC Dispensary, DwarkaDelhi3ESIC Dispensary, MangolpuriDelhi4ESIC Dispensary, Nand NagariDelhi5ESIC Dispensary, JwalapuriDelhi6ESI Dispensary, Nawabganj, Kanpur

Board of Vivid Global Industries approves preferential issue of shares to promoter
Nov 21,2016

Vivid Global Industries announced that the Board of Directors in its meeting held on 21 November 2016, inter alia, approved the following resolutions to be passed by Postal ballot. These resolutions were already duly passed by the shareholders in the Last Annual General Meeting held on 29 September 2016. the Company is once again passing these resolutions by postal ballot:

1. The Preferential issue of 90,000 (Ninety Thousand) fully paid Equity Shares of Rs. 5/- of the Company to Meena S. Mody, Promoter of the Company.

2. Appointment of Pankaj & Associates, Company Secretary in Practice, as the Scrutinizer for conducting the said Postal Ballot & E-voting process.

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Rupee loses
Nov 21,2016

Rupee closed lower at 68.1550/1650 per dollar on Monday (21 November 2016), versus its previous close of 68.13/14 per dollar last Friday.

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Board of Integrated Capital Services to consider scheme of merger
Nov 21,2016

Integrated Capital Services announced that the meeting of Board of Directors of the Company is scheduled to be held on 30 November 2016 to consider, amongst other businesses, the Scheme of Merger of Deora Associates with the Company.

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According to the estimates of the year 2015-16 there was about Rs. 1 lakh crore value fish production in the country: Shri Radha Mohan Singh
Nov 21,2016

The Union Agriculture and Farmers Welfare Minister Shri Radha Mohan Singh has said that due to rapid increase in fisheries and aquaculture, the income of fish farmers and farmers is constantly increasing and in the coming days it will benefit fish farmers and farmers at a large scale.

Shri Radha Mohan Singh said that development of the livestock is the best strategy for doubling the farmers income. Due to this reason the budget for 2016-17 for this department is kept at Rs. 1700 crore, which is 21 % higher than the last year budget. The Union Minister said that it is the matter of pride that this year more than 72 % of the budget has been released for the development of the states, which has never happened in the past. Shri Singh said that now, it is the responsibility of the states to spend it properly and should not do fund parking.

The Union Minister said that fish farming will have three benefits firstly, increase in the farmers income secondly, there will be progress in the countrys export and GDP and thirdly it will ensure nutritional and food security in the country.

Shri Radha Mohan Singh told that from last six months, Department of Animal Husbandry, Dairying and Fishery is formulating many new schemes by its strenuous efforts. The department has launched n++Rashtriya Gokul Missionn++ for the breed improvement of indigenous cows and for cattle, goats and sheep higher breed development; it has launched n++National Livestock Missionn++. Shri Singh explained that for the year 2014-15, production of milk was Rs. 4.92 lakh crore which was more than 37% from paddy and wheat combined. Accordingly to the estimate for the year 2015-16, there was about Rs. 1 lakh crore value fisheries production within the country.

The Union Minister said that in fish production, India is constantly at the second position after China. Fisheries are a big sector in the country and around 150 lakh people are engaged in fisheries business. India has first place in the world in the area of shrimp fish and it is the largest exporter of shrimp fish. Shri said that taking all fisheries production together, there was estimated 10.8 million tones fish production in the country in year 2015-16, which is around 6.4 per cent of total fish production of the world. India is the second largest country in the world to produce fish from aquaculture (42.10 lakh tones). It contributes about 6.3 percent in global aquaculture. From the last decade, where the average annual growth rate of export of fish and fisheries production in the world remaining 7.5 per cent, Indian remain at the first place with an average annual growth rate of 14.8 per cent in the export of fisheries product.

Shri Singh said in the last two and half years, his government has constantly made new schemes in the interests of fisheries sector and farmers and has implemented them successfully throughout the country. Agriculture Minister said that success of fisheries is also a result of constant efforts of the government. World Fisheries Day is also being organized from the last two years after the formation of the government. The Minister said that Honble Prime Minister of India, Shri Narendra Modi has given the slogan and vision for the complete development of India-to double the income of the farmers. To achieve this target, government has laid emphasis on the development of the fisheries and its target is to double the income of the fishers, fishermen and farmers by 2022 through aquaculture and marine fisheries.

Shri Radha Mohan Singh told that with a fish production of 72.1 lakh tones from the Indian fisheries, India has second place in the world. India can achieve about 8 per cent growth rate in Indian fishery. The Minister said that looking at the large potential in the development of the fisheries, Honble Prime Minister Shri Narendra Modi has called for n++Blue Revolutionn++ in the field of fisheries. Thereafter, ministry has merged all the existing schemes and started a Rs. 3000 crore umbrella scheme n++Blue Revolution; Integrated Development and Management of Fisheriesn++. This scheme includes in land fisheries, aquaculture, marine fisheries comprising of deep sea fishing, mariculture and all the activities of national fisheries development board (NFDB).

Shri Singh informed that Department of Animal Husbandry, Dairying and Fisheries has prepared a National Fisheries Action Plan 2020 (NFAP) for the next five years to increase fish production and productivity and to achieve the target of blue revolution. In this Action Plan all the different fisheries resources of the country like ponds and tanks, wetlands, brackish water, cold water, lakes reservoirs, rivers and canals and marine sectors are included. All the states / UTs have been requested to prepare State Action Plan (SAP) for the next five years to achieve the objective of blue revolution according to NFAP 2020. The Minister said the aim of Blue Revolution scheme is to increase the fish production and productivity by 8 per cent annual growth rate and to reach 15 million tones mark by 2020. Efforts are being made to bring a n++National inland fisheries Policyn++ along with new n++National Marine Fisheries Policyn++, which will decide an overall and integrated growth frame work in the area of inland fisheries throughout the country.

Shri Radha Mohan Singh said that around 26.869 hectares area has been developed for the aquaculture which has benefited 63,372 fishermen. He said that during the last two years, under fishermen welfare, construction of 9,603 fishermen houses have been assisted whereas 20,705 fishermen have been trained and around 50 lakh fishermen have been provided with annual insurance assistance.

The Minister of State for Agriculture and Farmers Welfare Shri Sudarshan Bhagat, Secretary, Department of Animal Husbandry, Dairying and Fishery, Shri Devendra Chaudhry and other officers of various Ministries and Departments were also present on the occasion

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Alfavision Overseas to hold adjourned meeting of the Board
Nov 21,2016

Alfavision Overseas announced that pursuant to Article of Association of the Company, an Adjourned Meeting of the Board of Director (of Original Board Meeting held on 21 November 2016) of the Company is scheduled to held on 28 November 2016 at 4.00 Pm at 1-A Press Complex, A.B. Road, Indore-01, Inter alia, to review, consider the following:

1. To alter the Articles of Association of the Company for increase in Authorized Capital;

2. Alteration of the Articles of Association of the Company for inserting Article 14A after the existing Article 14 of the Articles of Association and be numbered as Article 14A for issue1 of Convertible Warrants.

3. To consider fund raising through Preferential Issue / Qualified Institutions Placement of Equity Shares/ Preference Shares / Convertible Securities / Warrants or such other Securities in one or more tranches in compliance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 and the Companies Act, 2013 and the rules made thereunder.

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Board of Ingersoll-Rand (India) approves change in directorate
Nov 21,2016

Ingersoll-Rand (India) announced that at the meeting of the Board of Directors (the Board) of the Company held on 21 November 2016, the Board has appointed Amar Kaul as the Chairman of the Board effective immediately. He replaces Roman Steinhoff who resigned from the Board in August 2016.

The Board had earlier appointed Amar Kaul as Managing Director of the Company effective 05 August 2016 and he will now take over as Chairman of the Board as well.

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Board of Ingersoll-Rand (India) declares interim dividend
Nov 21,2016

Ingersoll-Rand (India) announced that the Board of Directors of the Company at its meeting held on 21 November 2016, inter alia, declared an interim dividend of Rs. 3/- per equity share.

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Board of Medinova Diagnostic Services to consider raising equity capital
Nov 21,2016

Medinova Diagnostic Services announced that meeting of the Board of Directors of the Company will be held on 29 November 2016, inter alia, to transact the following:

- To consider and approve raising of additional equity capital by issuance and allotment of equity shares on preferential basis at such issue price per equity share as may be determined as per SEBI (ICDR) Regulations subject to approval of shareholders through postal ballot and other statutory authorities (if any).

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Ingersoll-Rand (India) fixes record date for interim dividend
Nov 21,2016

Ingersoll-Rand (India) has fixed 02 December 2016 as the Record Date for the purpose of Payment of Interim Dividend.

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Simplex Projects CFO resigns
Nov 21,2016

Simplex Projects announced Pradeep Kumar Mishra, Sr. Vice President (Finance) & Chief Financial Officer of the Company has resigned from his office and services of the Company, w.e.f. 13 November 2016.

The same has also been approved and ratified by the Board in their meeting held on 14 November 2016.

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Board of Kavit Industries approves change in compliance officer
Nov 21,2016

Kavit Industries announced that the Board of Directors of the Company at its meeting held on 21 November 2016 has accepted the resignation of Yogendra Parmar from post of Company Secretary and Compliance Officer with effect from 21 November 2016. The Board has appointed Jyoti Gohil as Compliance Officer of the Company with effect from 22 November 2016.

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Century Textiles & Industries allots NCDs aggregating Rs 700 crore
Nov 21,2016

Century Textiles & Industries announced that the Finance Committee of the Board of Directors at its meeting held on 21 November 2016 has allotted NCDs for Rs 700 crore on private placement basis.

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Brigade Enterprises provides update on its Brigade Real Estate Accelerator Program
Nov 21,2016

Brigade Enterprises announced that its Brigade Real Estate Accelerator Program has formed strategic partnership with Microsoft and Intel. The accelerator program will mentor startups whose products and services can be used in the real estate sector across various domains be it residential, office, retail and hospitality.

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Electrosteel Castings to announce September quarter and half year results
Nov 21,2016

Electrosteel Castings announced that a meeting of the Board of Directors of the Company will be held on 06 December 2016, inter alia, to consider and approve the Unaudited Standalone Financial Results of the Company for the quarter and half year ended 30 September 2016.

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