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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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Filtra Consultants & Engineers to hold board meeting
May 23,2017

Filtra Consultants & Engineers will hold a meeting of the Board of Directors of the Company on 29 May 2017, to consider and approve the Annual Financial Statement of the Company for the financial year ended March 31, 2017, to consider and approve the Audited Financial Results of the Company for the half year ended and financial year ended March 31, 2017 , to consider recommendation of final dividend to the members of the Company, and to consider issue of bonus shares.

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Kapil Raj Finance to hold board meeting
May 23,2017

Kapil Raj Finance will hold a meeting of the Board of Directors of the Company on 30 May 2017, to consider and approve the Standalone Audited Financial Results of the Company for quarter and year ended March 31, 2017, and any other business.

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Bullish Bonds & Holdings to hold board meeting
May 23,2017

Bullish Bonds & Holdings will hold a meeting of the Board of Directors of the Company on 26 May 2017, to Consider, Approve and take on record the Audited Financial Results for the quarter and year ended March 31, 2017.

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Gaurav Mercantiles to hold board meeting
May 23,2017

Gaurav Mercantiles will hold a meeting of the Board of Directors of the Company on 29 May 2017, to approve the Audited Financial Results of the Company for the quarter and year ended 31st March, 2017 and to consider the other matter, if any.

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Parnav Sports Academy to hold board meeting
May 23,2017

Parnav Sports Academy will hold a meeting of the Board of Directors of the Company on 29 May 2017, to consider and approve the Audited Financial Results of the Company for the quarter and year-ended on March 31, 2017.

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Aryaman Capital Markets to hold board meeting
May 23,2017

Aryaman Capital Markets will hold a meeting of the Board of Directors of the Company on 29 May 2017, to discuss and approve, among other items, the Audited financial results for year ended March 31, 2017.

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Jigyasa Infrastructure to hold board meeting
May 23,2017

Jigyasa Infrastructure will hold a meeting of the Board of Directors of the Company on 29 May 2017, to consider and approve the Audited Financial Results of the Company for the quarter and year-ended on March 31, 2017.

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Aanchal Ispat to hold board meeting
May 23,2017

Aanchal Ispat will hold a meeting of the Board of Directors of the Company on 29 May 2017, to take on record the Standalone Audited Financial Results for the year ended 31st March, 2017.

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Sharda Cropchem nosedives after poor Q4 results
May 23,2017

The result was announced after market hours yesterday, 22 May 2017.

Meanwhile, the S&P BSE Sensex was down 139.52 points or 0.46% at 30,431.45. The S&P BSE Mid-Cap index was down 275.92 points or 1.91% at 14,191.18.

On the BSE, 13,000 shares were traded on the counter so far as against the average daily volumes of 6,250 shares in the past one quarter. The stock had hit a high of Rs 541.50 and a low of Rs 499 so far during the day.

The stock had hit a record high of Rs 567.80 on 19 May 2017 and a 52-week low of Rs 276 on 24 May 2016. It had outperformed the market over the past one month till 22 May 2017, advancing 5.44% compared with the Sensexs 4.11% rise. The scrip had also outperformed the market over the past one quarter, gaining 16.97% as against the Sensexs 5.91% rise.

The mid-cap company has equity capital of Rs 90.22 crore. Face value per share is Rs 10.

Sharda Cropchem is engaged in the manufacture of agrochemicals and conveyor belts.

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Navkar Corporation to hold board meeting
May 23,2017

Navkar Corporation will hold a meeting of the Board of Directors of the Company on 29 May 2017, to consider and approve Audited Financial Results of the Company for the quarter and year ended March 31, 2017 and raising of funds by issue of equity shares and/or such other securities convertible into equity shares.

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Munjal Auto Industries to pay dividend
May 23,2017

Munjal Auto Industries announced that divided, if declared at the ensuing AGM, will be paid by 30 July 2017.

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Future Consumer to hold board meeting
May 23,2017

Future Consumer will hold a meeting of the Board of Directors of the Company on 26 May 2017, to inter alia consider and approve the Audited Financial Results for the year ended 31st March, 2017.

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Akashdeep Metal Industries to hold board meeting
May 23,2017

Akashdeep Metal Industries will hold a meeting of the Board of Directors of the Company on 25 May 2017, to consider and approve the audited financial results for the year/quarter ending 31st March 2017.

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PC Jeweller to hold board meeting
May 23,2017

PC Jeweller will hold a meeting of the Board of Directors of the Company on 25 May 2017, to consider and approve the audited standalone and consolidated financial results of the Company for the financial year ended March 31, 2017, consider recommendation of dividend if any on the equity shares for the financial year 2016-17, and to consider recommendation for issue of bonus shares.

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Bharat Textiles& Proofing Industries to hold board meeting
May 23,2017

Bharat Textiles& Proofing Industries will hold a meeting of the Board of Directors of the Company on 27 May 2017, to consider and taken on record, inter alia , the Audited Financial Results of the Company for the financial year ended on 31st March, 2017 .

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