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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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GAIL (India) to consider bonus issue and private placement of bonds
Jan 19,2017

GAIL (India) announced that a meeting of the Board of Directors of the Company is scheduled on 25 January 2017, inter alia, to consider issuance of bonus shares and fund raising by issuance of bonds on private placement basis.

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Hindustan Copper jumps on bargain hunting
Jan 19,2017

Meanwhile, the BSE Sensex was up 64.15 points, or 0.24%, to 27,321.79.

On the BSE, so far 4.87 lakh shares were traded in the counter, compared with average daily volumes of 3.13 lakh shares in the past one quarter. The stock had hit a high of Rs 69.40 and a low of Rs 65.25 so far during the day.

The stock hit a 52-week high of Rs 73.60 on 22 August 2016. The stock hit a 52-week low of Rs 42.30 on 19 February 2016. The stock had outperformed the market over the past 30 days till 18 January 2017, rising 11.66% compared with the 3.61% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 9.87% as against Sensexs 3.10% decline.

The mid-cap company has equity capital of Rs 462.61 crore. Face value per share is Rs 5.

Shares of Hindustan Copper fell 6.26% in four trading sessions to settle at Rs 65.10 yesterday, 18 January 2017, from its close of Rs 69.45 on 12 January 2017.

The board of directors of Hindustan Copper (HCL) approved proposal for increasing borrowing from the consortium banks/other banks by way of overdraft or cash credit, working capital demand loan, bill discounting, other working capital arrangements from existing Rs 250 crore to Rs 550 crore. The announcement was made during trading hours on Monday, 16 January 2017. Shares of HCL fell 1.10% to settle at Rs 67.45 on that day.

Hindustan Coppers net profit fell 8.6% to Rs 6.77 crore on 20.1% decline in net sales to Rs 161.85 crore in Q2 September 2016 over Q2 September 2015.

Hindustan Copper (HCL) is a vertically integrated copper producing company encompassing mining, beneficiation, smelting, refining and casting of refined copper metal. The Government of India holds 82.948% stake in Hindustan Copper (as per shareholding pattern as on 31 December 2016).

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Board of PS IT Infrastructure & Services to consider change in registered office
Jan 19,2017

PS IT Infrastructure & Services announced that the meeting of the Board of Directors of the Company shall be held on 21 January 2017, inter alia, to transact the following business:

- To Change the Registered Office of the Company from Office No-612, Shivai Plaza, Near Marol Industrial Co-Op Society, Marol, Andheri (E), Mumbai - 400059, Maharashtra, India To Office No-308, B2B Agarwal Centre, Near Malad Industrial Estate, Kanchpada, Malad West - 400064.

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Board of Finolex Industries to consider Q3 and 9M results
Jan 19,2017

Finolex Industries announced that a meeting of the Board of Directors of the Company will be held on 04 February 2017, inter alia, to consider and approve, the unaudited financial results for the quarter and nine months ended 31 December 2016 (Q3).

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Sahyadri Industries to consider December quarter results
Jan 19,2017

Sahyadri Industries announced that the meeting of Board of Directors of the Company will be held on 27 January 2017, inter alia, to consider and approve unaudited Financial Results for the quarter ended 31 December 2016.

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Board of K P R Mill to consider December quarter results
Jan 19,2017

K P R Mill announced that a Meeting of the Board of Directors of the Company is scheduled to be held on 25 January 2017, to consider, amongst other subjects, Un-Audited Financial Results for the Quarter ended 31 December 2016.

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Board of Esha Media Research to consider December quarter results
Jan 19,2017

Esha Media Research announced that a meeting of the Board of Directors of the Company will be held on 10 February 2017, to consider and approve the unaudited financial results of the Company for the quarter ended 31 December 2016.

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Outcome of board meeting of Chpl Industries
Jan 19,2017

Chpl Industries announced that the Board of Directors of the Company at its meeting held on 18 January 2017, have decided the following -

To issue and allot 40,00,000 Equity Shares of Rs.10/- each at a price to be determined in accordance with the pricing formula prescribed under Chapter VII-Preferential issue of SEBI [ICDR] Regulations 2009 for cash to the person belonging to the Promoter and/or Non promoter Category, subject to the approval of Members by way of Postal Ballot;

To alter the main objects of the Company and amend the Memorandum of Association accordingly for change in its main object i.e. the business of undertake development of infrastructure work on build, operate and transfer basis as contracted form the Central Government, various State Governments, Union Territories, cantonments, local authorities, gram panchayats, autonomous bodies, and other Government departments and to develop, construct, run repair, maintain, decorate, improve, remodel, build, operate and manage roads, bridges, highways, railways, waterways, gas lines, airports, docks, ports, jetties, gardens, public places, buildings, and other structures, developments, utilities etc. and to operate and transfer the same to the Government as per agreement and to do all other acts and things as may be necessary from time to time & the business of builders, real estate-developers, contractors, sub-contractors, dealers and by advancing money to and enter into contracts and arrangements of all kinds with builders, tenants, occupiers and others, land development, service apartments ,serviced plots, constructions of residential and commercial premises including business centers and offices, securing lands, private or Government for formation and development of town ships, and to deal in and act as agents for lands, buildings, factories, houses, flats and other residential and commercial plots, and construct/maintain and alter residential, commercial, industrial plots and properties and sale or lease them out by providing with all modern amenities and development thereof and securing capital, funds and raising loans for construction and advancing to other organizations for similar purposes.

Considered and approved the Notice of Postal Ballot for Shifting of Registered office of the Company from the State of Telangana to the State of Gujarat

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Board of Union Quality Plastics forfeit 1,01,500 partly paid equity shares
Jan 19,2017

Union Quality Plastics announced that the Board of Director of the Company at its meeting held on 18 January 2017 have forfeited and cancelled 1,01,500 partly paid up Equity shares from the Equity Share Capital of the company for non receipt of allotment / call money within the stipulated time

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Oil & Natural Gas Corpn to consider Q3 results and 2nd interim dividend
Jan 19,2017

Oil & Natural Gas Corpn announced that a Meeting of the Board of Directors of the Company will be held on 31 January 2017, inter alia, to;

1. To consider and approve the Un-audited Financial Results of the Company for the Third Quarter ended on 31 December 2016 (Q3).

2. To declare second Interim Dividend, if any, for the Financial Year 2016-17

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J L Morison (India) to consider Q3 and 9M results
Jan 19,2017

J L Morison (India) announced that a meeting of the Board of Directors of the Company is scheduled to be held on 31 January 2017, inter alia, to consider and approve the Un-audited Financial Results of the Company for the quarter and nine months ended 31 December 2016.

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International Paper APPM appoints director
Jan 19,2017

International Paper APPM announced that the Board of Directors at the Meeting held on 18 January 2017, appointed William Michael Amick Jr. as Non-Executive Director effective 18 January 2017.

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Board of Shri Dinesh Mills announces Q3 and 9M results
Jan 19,2017

Shri Dinesh Mills announced that a Meeting of the Board of Directors of the Company will be held on 14 February 2017, inter alia, for considering Un-audited Financial Results for the quarter & nine months ended 31 December 2016.

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Tejnaksh Healthcare announces incorporation of subsidiary
Jan 19,2017

Tejnaksh Healthcare has formed subsidiary Tej Vedaant Healthcare in Mumbai, Maharashtra under the provisions of the Companies Act, 2013 vide Certificate of Incorporation issued by the Registrar of companies, Mumbai, Maharashtra.

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Orient Power gains on buzz of possible merger of wind energy assets with IL&FS
Jan 19,2017

Meanwhile, the BSE Sensex was up 26.33 points, or 0.10%, to 27,283.97.

On the BSE, so far 4.12 lakh shares were traded in the counter, compared with average daily volumes of 75,133 shares in the past one quarter. The stock had hit a high of Rs 11 and a low of Rs 10.26 so far during the day.

The stock hit a 52-week high of Rs 15.10 on 2 February 2016. The stock hit a record low of Rs 7.84 on 9 November 2016. The stock had underperformed the market over the past 30 days till 18 January 2017, rising 3.50% compared with the 3.61% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, falling 1.37% as against Sensexs 3.10% decline.

The small-cap company has equity capital of Rs 739.80 crore. Face value per share is Rs 10.

A media report indicated that Infrastructure Leasing and Financial Services (IL&FS) is in advanced talks to merge its wind energy assets with Chennai-based listed Orient Green Power.

The boards of IL&FS and Orient are expected to meet soon and discuss a merger proposal which, if cleared, will help the entity to acquire more wind energy assets. The plan is to consolidate and use stock and cash to acquire assets that will help scale up capacity to over 2,000 megawatts (MW) by financial year 2018, the report said.

On a consolidated basis, Orient Green Power Company reported net profit of Rs 82.88 crore in Q2 September 2016 as against net loss of Rs 21.32 crore in Q2 September 2015. Net sales rose 11.62% to Rs 154.81 crore in Q2 September 2016 over Q2 September 2015.

Orient Green Power Company an independent operator and developer of renewable energy power plants in India. Currently, the companys portfolio includes biomass, biogas, wind energy and small hydroelectric projects at various stages of development.

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