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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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Den Networks tumbles on profit booking
Apr 17,2017

Meanwhile, the S&P BSE Sensex was down 30.05 points, or 0.1% at 29,431.40. The S&P BSE Small-cap index was up 63.27 points, 0.43% at 14,944.43.

High volumes were witnessed on the counter. On the BSE, 17.06 lakh shares were traded on the counter so far as against the average daily volumes of 58,568 shares in the past one quarter. The stock had hit a high of Rs 98 and a low of Rs 87.10 so far during the day.

The stock had hit a 52-week high of Rs 103.40 on 13 April 2017 and a 52-week low of Rs 60.85 on 30 November 2016. The stock had outperformed the market over the past one month till 13 April 2017, advancing 18.56% compared with the Sensexs 1.78% rise. The scrip had also outperformed the market over the past one quarter advancing 19.44% as against the Sensexs 8.16% rise.

The small-cap company has equity capital of Rs 194.03 crore. Face value per share is Rs 10.

Den Networks had rallied 7.94% in the preceding four trading sessions to settle at Rs 96.45 on Thursday, 13 April 2017, from its closing of Rs 89.35 on 7 April 2017. The stock market was closed on Friday, 14 April 2017, for a holiday.

Den Networks reported consolidated net loss of Rs 45.10 crore in Q3 December 2016, as against net loss of Rs 87.39 crore in Q3 December 2015. Net sales rose 30.3% to Rs 286.83 crore in Q3 December 2016 over Q3 December 2015.

Den Networks is Indias leading cable TV distribution company.

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Pradhan Mantri Mudra Yojana (PMMY) crosses the target of Rs. 1.8 lakh crore for 2016-17
Apr 17,2017

Loans extended under the Pradhan Mantri Mudra Yojana (PMMY) during 2016-17 have crossed the target of Rs. 1,80,000 crore for 2016-17. Sanctions currently stand at Rs. 1,80,087 crore with final data still awaited from some of the smaller non-banking lenders. Of this amount, Rs. 1,23,000 crore was lent by banks while non-banking institutions lent about Rs. 57,000 crore. Data compiled so far indicates that the number of borrowers this year were over 4 crore, of which over 70% were women borrowers. About 20% of the borrowers were from the Scheduled Caste Category, 5% from the Scheduled Tribe Category, while Other Backward Classes accounted for almost 35% of the borrowers.

The achievements of both public sector banks and private banks have been extremely encouraging. The robust growth in bank loans to unfunded and underfunded segments is an indication of the emergence of this category of borrowers as a key driver of demand for credit.

The Union Budget has announced a target of Rs. 2.44 lakh crore for Mudra Loans during 2017-18. There would be a special focus within the Mudra Scheme on convergence with other government schemes, deepening connect with borrowers and meeting credit requirements of trainees completing skilling course.

Mudra Loans are available for non-agricultural activities upto Rs. 10 lakh and activities allied to agriculture such as Dairy, Poultry, Bee Keeping etc, are also covered. Mudras unique features include a Mudra Card which permits access to Working Capital through ATMs and Card Machines. Evaluation studies show that banks have been proactive in identifying and disbursing loans to first time borrowers thereby weaning them away from money lenders. Borrowers particularly value three attributes of Mudra Loans viz, non-insistence on guarantor or collateral, simple documentation and quick processing.

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Bharat Heavy Electrical commissions two 270 MW units
Apr 17,2017

Bharat Heavy Electrical has commissioned two units of 270 MW at RattanIndia Nasik Powers 5x270 MW thermal power project, located at Sinnar in Nasik District of Maharashtra.

With this, BHEL has commissioned eight sets for RattanIndia in Maharashtra - 3 sets at Nasik and 5 sets at Amravati. In addition, two more 270 MW units are presently in advanced stages of completion at Nasik.

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Board of Bhansali Engineering Polymers recommends final dividend
Apr 17,2017

Bhansali Engineering Polymers announced that the Board of Directors of the Company at its meeting held on 16 April 2017, inter alia, have recommended the final dividend of Rs 0.2 per equity Share (i.e. 20%) , subject to the approval of the shareholders.

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Bhansali Engineering Polymers to hold AGM
Apr 17,2017

Bhansali Engineering Polymers announced that the 33rd Annual General Meeting (AGM) of the company will be held on 15 July 2017.

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Samrat Pharmachem to hold board meeting
Apr 17,2017

Samrat Pharmachem will hold a meeting of the Board of Directors of the Company on 30 May 2017, to approve the Audited Financial Results for the year ended 31 March 2017.

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Miven Machine Tools to hold board meeting
Apr 17,2017

Miven Machine Tools will hold a meeting of the Board of Directors of the Company on 20 April 2017, to consider the Appointment of Managing Director.

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Premier Explosives to hold EGM
Apr 17,2017

Premier Explosives announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 12 May 2017 .

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SIP Industries to hold board meeting
Apr 17,2017

SIP Industries will hold a meeting of the Board of Directors of the Company on 25 April 2017.

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SVC Superchem to hold board meeting
Apr 17,2017

SVC Superchem will hold a meeting of the Board of Directors of the Company on 3 May 2017 Accounts

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Crestchem to hold board meeting
Apr 17,2017

Crestchem will hold a meeting of the Board of Directors of the Company on 30 May 2017, to Consider And Approve Audited Results Of The Company For The Quarter Ended On 31 March 2016 & Change in Auditors & Directors

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Pact Industries to hold board meeting
Apr 17,2017

Pact Industries will hold a meeting of the Board of Directors of the Company on 22 April 2017, to approve Increase in Authorised Capital.

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Blue Dart Express to hold board meeting
Apr 17,2017

Blue Dart Express will hold a meeting of the Board of Directors of the Company on 5 May 2017, to approval for Audited Financial Results for the year ended 31 March 2017; to recommend dividend on Equity Shares for the year ended 31 March 2017.

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Astra Microwave Products to hold board meeting
Apr 17,2017

Astra Microwave Products will hold a meeting of the Board of Directors of the Company on 29 April 2017, to take on record the Audited Financial Results for the fourth quarter and year ended 31 March 2017, & to recommend payment of equity dividend for the year ended 31 March 2017

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Ramkrishna Forgings to hold board meeting
Apr 17,2017

Ramkrishna Forgings will hold a meeting of the Board of Directors of the Company on 19 May 2017, to consider and approve the Audited Financial Results for the year ended 31st March 2017.

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