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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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V-Guard declines after muted Q4 numbers
May 22,2017

The result was announced after market hours on Friday, 19 May 2017.

Meanwhile, the S&P BSE Sensex was up 164.25 points or 0.54% at 30,629.17. The S&P BSE Mid-Cap index was up 1.84 points or 0.01% at 14,645.84.

On the BSE, 88,000 shares were traded on the counter so far as against the average daily volumes of 95,372 shares in the past one quarter. The stock had hit a high of Rs 203.80 and a low of Rs 192 so far during the day.

The stock had hit a record high of Rs 220.75 on 16 May 2017 and a 52-week low of Rs 84.34 on 19 May 2016. It had outperformed the market over the past one month till 19 May 2017, advancing 13.02% compared with the Sensexs 3.85% rise. The scrip had also outperformed the market over the past one quarter, gaining 34.37% as against the Sensexs 7.01% rise.

The mid-cap company has equity capital of Rs 42.47 crore. Face value per share is Rs 1.

V-Guard Industries makes consumer electrical and electronics products. The companys product range includes voltage stabilizer, digital UPS, inverter and inverter batteries, electric water heaters, solar water heaters, domestic pumps, agricultural pumps, industrial motors, domestic switch gears, distribution boards, wiring cables, industrial cables, induction cooktops, mixer grinders and fans.

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Board of Zuari Agro Chemicals approves integrated revamp of Ammonia Urea plants
May 22,2017

Zuari Agro Chemicals announced that the Board of Directors of the company at its meeting held on 19 May 2017 has considered and approved the Integrated Revamp of Ammonia-Urea plants at a cost of approx Rs. 1300 crore. Consequently the urea capacity will increase from 1350 MTPD to 1800 MTPD and Energy per tonne of Urea will be 5.39 Gcal as against existing 6.67 Gcal.

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Sanguine Media to hold board meeting
May 22,2017

Sanguine Media will hold a meeting of the Board of Directors of the Company on 29 May 2017, to consider and take on record, inter alia, the Audited Financial Results for the quarter and year ended 31st March, 2017.

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Suryakrupa Finance to hold board meeting
May 22,2017

Suryakrupa Finance will hold a meeting of the Board of Directors of the Company on 27 May 2017, to consider, approve and take on record the Audited financial results of the Company for the Financial year/period ended on 31st March, 2017.

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Allied Computers Intl. (Asia) to hold board meeting
May 22,2017

Allied Computers Intl. (Asia) will hold a meeting of the Board of Directors of the Company on 30 May 2017, to consider and take on record, inter alia, the Audited Financial Results for the quarter and year ended 31st March, 2017.

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S&S Power Switchgear to hold board meeting
May 22,2017

S&S Power Switchgear will hold a meeting of the Board of Directors of the Company on 29 May 2017, to consider, approve and take on record the Audited Standalone and Consolidated Financial Results of the Company for the Quarter and financial year ended 31st March 2017.

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Triveni Enterprises to hold board meeting
May 22,2017

Triveni Enterprises will hold a meeting of the Board of Directors of the Company on 29 May 2017, for approving Audited Financial Results For The Quarter & Year Ended 31St March, 2017.

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Shiv Om Investment & Consultancy to hold board meeting
May 22,2017

Shiv Om Investment & Consultancy will hold a meeting of the Board of Directors of the Company on 30 May 2017, to take on record the audited financial result of the Company for the quarter and year ended 31st March, 2017 and any other matter with the permission of the Chair.

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Trans Freight Containers to hold board meeting
May 22,2017

Trans Freight Containers will hold a meeting of the Board of Directors of the Company on 30 May 2017, among other things, to approve the Audited Financial Results for the fourth Quarter and Financial Year ended 31st March, 2017.

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Joy Realty to hold board meeting
May 22,2017

Joy Realty will hold a meeting of the Board of Directors of the Company on 29 May 2017, to approve Audited Financial Result for the quarter and year ended 31st March, 2017 and other agendas.

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Nilkanth Engineering to hold board meeting
May 22,2017

Nilkanth Engineering will hold a meeting of the Board of Directors of the Company on 26 May 2017, to consider and approve the Audited Financial Result for the Quarter and year ended 31st March, 2017.

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Meenakshi Steel Industries to hold board meeting
May 22,2017

Meenakshi Steel Industries will hold a meeting of the Board of Directors of the Company on 26 May 2017, to consider and approve the Audited Financial Results for Quarterly and year ended 31st March, 2017.

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Board of Electrosteel Castings recommends final dividend
May 22,2017

Electrosteel Castings announced that the Board of Directors of the Company at its meeting held on 19 May 2017, inter alia, have recommended the final dividend of Rs 0.5 per equity Share (i.e. 50%) , subject to the approval of the shareholders.

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Indiabulls Asset Reconstruction Company gets CoR from RBI
May 22,2017

Indiabulls Asset Reconstruction Company (ARC), a wholly owned subsidiary of Indiabulls Ventures, has been granted the Certificate of Registration (CoR) by the Reserve bank of India (RBI) under Section 3 of the SARFAESI Act, 2002.

Indiabulls Ventures (IVL) is the sole sponsor of the ARC and owns 100% equity stake in the company. IVL has already infused Rs 100 crore equity in the ARC and is fully compliant with the requisite criteria laid down by RBI vide its latest guidelines.

The company intends to start its operations shortly.

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M&M advances on plans to invest in high-end electric powertrain tech
May 22,2017

The announcement was made on Sunday, 21 May 2017.

Meanwhile, the S&P BSE Sensex was up 176.15 points or 0.58% at 30,641.07.

On the BSE, 1,597 shares were traded on the counter so far as against the average daily volumes of 1.55 lakh shares in the past one quarter. The stock had hit a high of Rs 1,341 and a low of Rs 1,333.55 so far during the day.

Mahindra & Mahindra (M&M) announced that it has plans to invest directly and/or through its subsidiaries in high-end electric powertrain technology as part of its plan for the future of mobility; and electrification of some of its existing and future products.

The investments will also be utilised towards increasing the capacity for electric powertrains and electric vehicles. The high end electric powertrains will be used for the Groups future line up of electric vehicles. As the pioneers of electric vehicles in the country, the Group is committed towards making electric vehicles more accessible in order to build a clean and green tomorrow.

The companys announcement is in line with its efforts to accelerate the transformation as well as be in-sync with the Government of Indias thrust on promoting hybrid and electric mobility in the country, through the ambitious National Electric Mobility Mission Plan 2030.

M&Ms net profit rose 33.3% to Rs 1112.27 crore on 0.3% decline in net sales to Rs 10860.05 crore in Q3 December 2016 over Q3 December 2015.

M&M enjoys a leadership position in tractors and utility vehicles in India.

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