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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 Advani Hotels & Resorts (India) declares 2nd interim dividend
Jan 27,2017

Advani Hotels & Resorts (India) announced that the Board of Directors of the Company at its meeting held on 27 January 2017, inter alia, has approved the following :

- Declared second interim dividend of 20% (40 paise per Equity Share of Rs. 2/- each) for the year ending 31 March 2017.

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Advani Hotels & Resorts (India) fixes record date for 2nd interim dividend
Jan 27,2017

Advani Hotels & Resorts (India) announced that the Company has fixed 08 February 2017 as the Record Date for the purpose of payment of Second Interim Dividend.

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Surana Telecom and Power to announce December quarter results
Jan 27,2017

Surana Telecom and Power announced that a meeting of the Board of Directors of the Company is scheduled to be held on 10 February 2017, inter alia, to consider the Un-Audited Financial Results of the Company for the Quarter ended 31 December 2016.

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Omaxe to consider December quarter results
Jan 27,2017

Omaxe announced that a meeting of the Board of Directors of the Company is scheduled to be held on 09 February 2017, inter alia, to consider and approve the Standalone and Consolidated Unaudited Financial Results of the Company for the Quarter and Nine Months ended on 31 December 2016 at the recommendation of the Audit Committee which will consider and review the Financial Results in its meeting scheduled to be held on the same day, prior to the Board Meeting.

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Surana Solar to announce December quarter results
Jan 27,2017

Surana Solar announced a meeting of the Board of Directors of the Company is scheduled to be held on 10 February 2017, inter alia, to consider the Un-Audited Financial Results of the Company for the Quarter ended 31 December 2016.

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Board of Gujarat Foils to consider Q3 results
Jan 27,2017

Gujarat Foils announced that a meeting of the Board of Directors of the Company will be held on 07 February 2017, inter alia, to consider and approve the Unaudited Financial Results of the Company for the Third Quarter on 31 December 2016.

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Board of Mystic Electronics approves change in directorate
Jan 27,2017

Mystic Electronics announced that the meeting of the Board of Directors of the Company held on 27 January 2017, wherein the following matters were considered and approved:

1. The appointment of Manisha Swami as Company secretary of the Company with immediate effect i.e. from 27 January 2017.

2. The resignation of Madhumati Gawade as women Director of the company with the immediate effect i.e. from 27 January 2017.

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City Union Bank to announce Q3 results
Jan 27,2017

City Union Bank announced that a meeting of the Board of Directors of the Bank will be held on 08 February 2017, inter alia, to consider the Un-audited Financial Results of the Bank for the quarter ended 31 December 2016 (Q3), subject to a limited review by the Statutory Auditors.

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Orient Beverages to consider December quarter results
Jan 27,2017

Orient Beverages announced that a meeting of the Board of Director of the Company will be held on 13 February 2017, inter alia, to consider and approve the Unaudited Financial Results of the Company for the quarter ended 31 December 2016.

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ABM Knowledgeware to announce December quarter results
Jan 27,2017

ABM Knowledgeware announced that the Meeting of the Board of Directors of the Company will be held on 04 February 2017, to consider and take on record the Unaudited Financial results for the quarter ended 31 December 2016.

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Larsen & Toubro secures new orders
Jan 27,2017

Larsen & Toubro announced that its construction arm has won orders worth Rs 1286 crore across its various business segments. These orders include among others, an order for the Ahmedabad metro project; construction of an iron ore berth in Paradip, Odisha; and construction of paint manufacturing facility in Vizag.

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Jindal Stainless (Hisar) to announce December quarter results
Jan 27,2017

Jindal Stainless (Hisar) announced that the meeting of the Board of Directors of the Company will be held on 08 February 2017, inter alia, to consider and approve the unaudited standalone financial results of the Company for the quarter / period ended 31 December 2016.

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Colgate-Palmolive declines after poor Q3 numbers
Jan 27,2017

The result was announced during market hours today, 27 January 2017.

Meanwhile, the S&P BSE Sensex was up 164.40 points or 0.59% at 27,872.54.

On the BSE, 73,000 shares were traded on the counter so far as against the average daily volumes of 24,771 shares in the past one quarter. The stock had hit a high of Rs 924 and a low of Rs 877 so far during the day.

The stock had hit a 52-week high of Rs 1,032.85 on 8 August 2016 and a 52-week low of Rs 787.60 on 24 May 2016. The stock had underperformed the market over the past one month till 25 January 2017, declining 0.56% compared with the Sensexs 6.4% rise. The scrip had also underperformed the market over the past one quarter, sliding 4.87% as against the Sensexs 1.36% fall.

The large-cap company has equity capital of Rs 27.20 crore. Face value per share is Rs 1.

Colgate-Palmolive (India) makes oral care products.

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Rander Corporation announces resignation of director
Jan 27,2017

Rander Corporation announced that Arup Kumar Chattaraj, Executive Director of the Company, has resigned from the Board of Directors of the Company.

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L&T slips amid intraday volatility
Jan 27,2017

Meanwhile, the S&P BSE Sensex was up 190.44 points or 0.69% at 27,898.58.

On the BSE, 1.02 lakh shares were traded on the counter so far as against the average daily volumes of 2.22 lakh shares in the past one quarter. The stock was volatile. The stock lost as much as 0.53% at the days low of Rs 1,441.70 so far during the day. The stock rose as much as 1.38% at the days high of Rs 1,469.50 so far during the day.

The stock had hit a 52-week high of Rs 1,615 on 27 July 2016 and a 52-week low of Rs 1,016.60 on 12 February 2016. The stock had outperformed the market over the past one month till 25 January 2017, gaining 8.41% compared with the Sensexs 6.4% rise. The scrip had, however, underperformed the market over the past one quarter, sliding 2.35% as against the Sensexs 1.36% fall.

The large-cap company has equity capital of Rs 186.54 crore. Face value per share is Rs 2.

L&T during market hours today, 27 January 2017 said its construction division has secured orders worth Rs 1286 crore across its various business segments.

On a consolidated basis, L&Ts net profit jumped 84.3% to Rs 1434.63 crore on 8.5% growth in net sales to Rs 24923.98 crore in Q2 September 2016 over Q2 September 2015. The company is scheduled to announce Q3 December 2016 results tomorrow, 28 January 2017.

L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with $16 billion in revenue. L&T Construction is a brand of L&T.

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