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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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Blue Pearl Texspin to hold board meeting
Jul 18,2017

Blue Pearl Texspin will hold a meeting of the Board of Directors of the Company on 14 August 2017.

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Orient Cement to hold board meeting
Jul 18,2017

Orient Cement will hold a meeting of the Board of Directors of the Company on 26 July 2017 Accounts

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Peoples Investment to hold board meeting
Jul 18,2017

Peoples Investment will hold a meeting of the Board of Directors of the Company on 27 July 2017.

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Galada Finance to hold board meeting
Jul 18,2017

Galada Finance will hold a meeting of the Board of Directors of the Company on 29 July 2017, to consider, approve and take on record the Unaudited Financial Results for the quarter and year ended 30th June, 2017.

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PNB Gilts to hold board meeting
Jul 18,2017

PNB Gilts will hold a meeting of the Board of Directors of the Company on 26 July 2017, to consider and approve the unaudited financial results of the Company for the quarter ended June 30, 2017

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Apcotex Industries to hold AGM
Jul 18,2017

Apcotex Industries announced that the 31st Annual General Meeting (AGM) of the company will be held on 17 August 2017.

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Godrej Properties allots 1,00,175 equity shares
Jul 18,2017

Godrej Properties has allotted 1,00,175 Equity Shares of Rs.5/- per Equity Share to the option grantees in terms of the GPL ESGS on 17 July 2017.

Consequently, with effect from 17 July 2017, the issued, subscribed and paid up capital of the Company stands increased to Rs. 1,08,23,52,230/- consisting of 21,64,70,446 equity shares of Rs. 5/- each.

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Mahanagar Telephone Nigam to hold board meeting
Jul 18,2017

Mahanagar Telephone Nigam will hold a meeting of the Board of Directors of the Company on 14 August 2017.

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Royal India Corporation to hold board meeting
Jul 18,2017

Royal India Corporation will hold a meeting of the Board of Directors of the Company on 29 July 2017 Quarterly Results

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G G Automotive Gears to hold board meeting
Jul 18,2017

G G Automotive Gears will hold a meeting of the Board of Directors of the Company on 26 July 2017 Quarterly Results

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Vista Pharmaceuticals to hold board meeting
Jul 18,2017

Vista Pharmaceuticals will hold a meeting of the Board of Directors of the Company on 21 July 2017.

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Rs. 834.71 crores has been allocated for NFSM-Pulses
Jul 18,2017

For the year 2017-18, an amount of Rs.1720.00 crores (Government of India Share) has been earmarked for National Food Security Mission (NFSM), out of which an amount of Rs.834.71 crores has been allocated, so far, for NFSM-Pulses to States for increasing the production of pulses in the country. An amount of Rs.169.28 crores has been released so far to States for implementation of the pulses programme.

In order to create awareness among the farming community with regard to cultivation of pulses, Government of India has been taking steps like organization of cluster/cropping system based demonstrations on latest crop production technology, cropping system based training, etc. through State Governments and Indian Council of Agricultural Research (ICAR). Besides, seed production of pulses through seed-hubs has also been taken up by ICAR Institutes/Krishi Vigyan Kendras (KVKs)/State Agricultural Universities (SAUs).

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D S Kulkarni Developers director resigns
Jul 18,2017

D S Kulkarni Developers announced the resignation of Uma Anil Panse, Independent Director of the Company w.e.f. 18 July, 2017.

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ICAR set target for achieving the goal of doubling farmers income
Jul 18,2017

DARE/ICAR has developed 596 high yielding climate resilient crop varieties/ hybrids of field crops for cultivation in different agro-ecologies of the country during past 3 years. During 2016-17 alone record 313 field crop varieties, 51 horticultural crop varieties, 51 new farm implements, 3 vaccines, 15 diagnostic kits and breeding technology for two new fish species developed. Nutrient rich (zinc, iron, protein) varieties viz., DRR Dhan 45 (18.18 ppm Zinc) and CRR Dhan 310 (10.3% protein) of rice; WB-2 (42 PPM Zinc and 40 PPM Fe) and HPBW-01 (40.6 PPM Zinc and 40.6 Fe) of wheat, Pusa Mustard 30 (zero erucic acid) and Pusa Mustard 31 (Double zero) of Indian mustard have been developed. Rice variety IR-64 Drt-1 (DRR Dhan 42) resistant to drought and Samba Sub-1 tolerant to submergence has been developed. IPM 205-7 (Virat), an extra-early (52-55 days) maturing summer mungbean variety, first-of-its-kind globally, developed. Being short duration variety, it will help in increasing the cropping intensity and diversify the rice-wheat cropping system. Pusa Basmati 1609, Pusa Basmati 1509, Pusa Basmati 1637 and Pusa Basmati 1728 have been developed by using new biotechnological tools. Developed 51 new equipment/technologies/products and processes; 219 new prototypes for farm machinery/new farm implements; established 51 agro processing centres; and supplied 16500 units of multiplied prototypes, in the frontier areas of agricultural engineering with great potential to increase productivity, reduce cost of cultivation, reduce drudgery, improve value addition, conserve resources, provide alternate means for energy generation. Demonstrated production potential of new technologies of pulses, oilseed and other crops through 3.21 lakh frontline demonstrations in farmers field. Skill development of 40.9 lakh farmers and rural youth. Produced and provided 8.79 lakh quintal seed, 12.52 crore planting material and 9.09 crore livestock strains and fingerlings to farmers. Provided agro mobile advisory to 3.95 crore farmers for improved decision-making. Established 150 pulses seed hubs to produce quality seeds of important pulse crops and production of additional quantity of breeder seed of different pulses was undertaken to attain self-sufficiency in pulses. Established 38 on-station Integrated Farming System (IFS) models and refined 63 existing IFS in 14 agro-climatic regions. All these efforts complement the Governments efforts to double the farmers income by 2022.

DARE/ ICAR has set targets, both for short and long term for complementing the efforts of the Govt. by providing technology back up for achieving the goal of doubling farmers income. Targets for next 2 years include, evaluation of 20000 germplasm and breeding lines and conservation of 4000 Germplasm for long term storage, conservation of 200 microbial genetic resources, to identify 30 genotypes and register for unique traits, clone and characterize 10 genes, testing 2000 entries in AICRP multi-location trials, identification of 40 varieties including pulses and oilseeds by AICRP varietal identification committees, production of 56000 quintal Breeder seed, developing and testing 25 new technologies, conducting 10000 front line demonstrations and organizing 220 farmers trainings.

In horticulture sciences targets for next 2 years include, collection of 400 germplasms and characterization of 500 germplasms, development of 100 pre-breeding lines, Identification of 60 promising/elite breeding lines, release of 30 varieties/hybrids, standardization of 50 production technologies, organization of 155 frontline demonstrations, developing 167 modules for capacity building of farmers and other stakeholders, production of 2261 kg breeders/truthfully levelled seed, production of 2250 tonne breeders seed of tuber crops and production of 12.5 lakh quality planting materials and 5 lakh rooted cuttings.

Targets have also been set for soil inventory and characterization (1:10,000 scale), designing and developing of organic farming package of practices, designing, developing and demonstration of climate resilient technologies, designing and developing technologies for managing soil health and designing, developing and testing of 3 technologies for Irrigation water Management. Separate targets have been set for animal sciences, fisheries sciences, agricultural engineering, agricultural education and agricultural extension also.

All these targeted activities are likely to increase the production and productivity of agricultural crops and other enterprises, add value to the produce, reduce cost of production and increase profit margins for the farmers.

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Hong Kong Market climbs
Jul 18,2017

The Hong Kong stock market finished session higher on Tuesday, 18 July 2017, in lackluster trade following the mixed performance of the US equity markets overnight. The Hang Seng Index rose 0.2%, or 54.36 points, to 26,524.94. The Hang Seng China Enterprises Index, also known as the H-share gauge, lost 0.3%, or 27.91 points, to 10,755.28. Turnover decreased to HK$82.8 billion from HK$93.2 billion on Monday.

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