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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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Jubilant Life Sciences consolidated net profit declines 2.63% in the December 2016 quarter
Feb 07,2017

Net profit of Jubilant Life Sciences declined 2.63% to Rs 119.78 crore in the quarter ended December 2016 as against Rs 123.01 crore during the previous quarter ended December 2015. Sales rose 8.65% to Rs 1438.81 crore in the quarter ended December 2016 as against Rs 1324.26 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales1438.811324.26 9 OPM %23.0623.09 - PBDT238.75220.04 9 PBT166.10145.38 14 NP119.78123.01 -3

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CEAT consolidated net profit declines 25.31% in the December 2016 quarter
Feb 07,2017

Net profit of CEAT declined 25.31% to Rs 83.83 crore in the quarter ended December 2016 as against Rs 112.23 crore during the previous quarter ended December 2015. Sales rose 5.38% to Rs 1385.89 crore in the quarter ended December 2016 as against Rs 1315.10 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales1385.891315.10 5 OPM %11.0814.29 - PBDT140.16173.30 -19 PBT105.04146.89 -28 NP83.83112.23 -25

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Ministry of Agriculture & Farmers Welfare constitutes a committee to achieve the target of doubling of income of farmers by March 2022
Feb 07,2017

To understand the impact of demonetization on farming sector, Indian Council of Agricultural Research (ICAR)-National Institute of Agricultural Economics and Policy Research (NIAP) conducted a short survey of farmers in few villages around Delhi under Mera Gaon Mera Gaurav (MGMG) initiative. Survey findings could not establish any significant adverse effect of demonetization on input availability, market arrivals of produce and area sown in Rabi season. As per preliminary reports received from the States, the total area sown under Rabi crops as on 27th January, 2017 stands at 637.34 lakh hectares as compared to 600.02 lakh hectares this time in 2016 indicating no significant impact of demonetization on Rabi sowing.

In order to achieve the target of doubling of income of farmers by March 2022, the Department of Agriculture, Cooperation and Farmers Welfare has constituted a Committee under the Chairmanship of Additional Secretary, for the following aspects:

i) To study the current income level of farmers/ agricultural labourers

ii) To measure the historical growth rate of the current income level

iii) To determine the needed growth rate to double the income of farmers/agricultural labourers by the year 2021-22

iv) To consider and recommend various strategies to be adopted to accomplish (iii) above

v) To recommend an institutional mechanism to review and monitor implementation to realise the goal

vi) To examine any other related issue.

The Committee has held five meetings so far to evolve a suitable strategy.

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D & H India announces cessation of director
Feb 07,2017

D & H India announced that Surjit Singh, tendered his resignation from the post of Independent Director of the Company and Board of Directors confirmed and approved the same on their meeting held on 07 February 2017 therefore Directorship in the Company has been changed due to resignation of Surjit Singh, Independent Director of the Company with effect from 07 February 2017.

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Bil Energy System to hold board meeting
Feb 07,2017

Bil Energy System will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider and approve Un-audited Financial Results for the quarter ended on 31 December 2016, To consider and approve appointment of Mr. Lalit Laxiram Agarwal as Managing Director of the Company;

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Shree Hanuman Sugar & Industries to hold board meeting
Feb 07,2017

Shree Hanuman Sugar & Industries will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider and approve the Unaudited Financial Results of the Company for the quarter and nine months ended 31 December 2016.

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Hasti Finance to hold board meeting
Feb 07,2017

Hasti Finance will hold a meeting of the Board of Directors of the Company on 14 February 2017, to approve the unaudited Financial Results for the Quarter and Nine months ended 31 December 2016.

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Shree Shaleen Textiles to hold board meeting
Feb 07,2017

Shree Shaleen Textiles will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider and approve the unaudited financial results of the Company for the quarter ended on 31 December 2016.

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Rainbow Foundations to hold board meeting
Feb 07,2017

Rainbow Foundations will hold a meeting of the Board of Directors of the Company on 14 February 2017, to approve the unaudited financial results of the Company for the Third Quarter ended on 31 December 2016.

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Frontier Informatics to hold board meeting
Feb 07,2017

Frontier Informatics will hold a meeting of the Board of Directors of the Company on 14 February 2017, to approve the Un-Audited financial Results for the Quarter ended 31 December 2016 and to take note on Limited Review Report for the quarter ended 31 December 2016.

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STEL Holdings to hold board meeting
Feb 07,2017

STEL Holdings will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider the Unaudited Financial Results of the Company for the quarter ended 31 December 2016.

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IG Petrochemicals to hold board meeting
Feb 07,2017

IG Petrochemicals will hold a meeting of the Board of Directors of the Company on 13 February 2017, to approve the Unaudited Financial Results for the 3rd quarter ended 31 December 2016.

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Trinity Tradelink to hold board meeting
Feb 07,2017

Trinity Tradelink will hold a meeting of the Board of Directors of the Company on 14 February 2017, to approve the Unaudited Financial Results along with Limited Review Certificate issued by the Statutory Auditors of the Company for the quarter and nine months ended 31 December 2016.

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Unison Metals to hold board meeting
Feb 07,2017

Unison Metals will hold a meeting of the Board of Directors of the Company on 14 February 2017, to approve the Unaudited Financial Results of the Company for the quarter ended on 31 December 2016.

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Orissa Minerals Development Company to hold board meeting
Feb 07,2017

Orissa Minerals Development Company will hold a meeting of the Board of Directors of the Company on 13 February 2017, to consider, approve and take on record the Unaudited Financial Results of the Company for the quarter ended 31 December 2016.

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