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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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Atlanta to hold EGM
Jan 19,2017

Atlanta announced that the Extra Ordinary General Meeting (EGM) of the Company will be held on 14 February 2017.

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Richa Industries wins award for n++Outstanding company in Pre Engineered Buildingn++
Jan 19,2017

Richa Industries has won the award for an n++Outstanding company in Pre Engineered Buildingn++ during 6th EPC World award for their exceptional contribution in the infrastructure and construction sector withexemplary works & projects delivered organised by EPC World Media Group.

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Board of Tamil Nadu Telecommunications to consider December quarter results
Jan 19,2017

Tamil Nadu Telecommunications announced that the next meeting of the Sub-Committee of the Board constituted for the purpose of considering and approving the quarterly un-audited financial results, is proposed to be held on 24 January 2017 to consider and approve the un-audited financial results of the Company for the quarter ended 31 December, 2016.

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GE Shipping gains after raising Rs 500 crore via NCDs
Jan 19,2017

The announcement was made before trading hours today, 19 January 2017.

Meanwhile, the BSE Sensex was up 10.12 points, or 0.04%, to 27,267.76.

On the BSE, so far 1,156 shares were traded in the counter, compared with average daily volumes of 16,246 shares in the past one quarter. The stock had hit a high of Rs 393 and a low of Rs 386.40 so far during the day.

The stock hit a 52-week high of Rs 397.60 on 1 November 2016. The stock hit a 52-week low of Rs 275 on 2 March 2016. The stock had outperformed the market over the past 30 days till 18 January 2017, rising 5.96% compared with the 3.61% rise in the Sensex. The scrip had also outperformed the market in past one quarter, falling 0.10% as against Sensexs 3.10% decline.

The mid-cap company has equity capital of Rs 150.78 crore. Face value per share is Rs 10.

Great Eastern Shipping Company said that the debenture issue committee, at its meeting held 16 January 2017, allotted 7.99% 5,000 unsecured non-convertible debentures of face value of Rs 10 lakhs each, aggregating to Rs 500 crore, in two tranches of Rs 250 crore each.

On a consolidated basis, net profit of GE Shipping declined 23.99% to Rs 268.75 crore on 21.12% decline in net sales to Rs 794.51 crore in Q2 September 2016 over Q2 September 2015.

GE Shipping has two main business: shipping and offshore. The shipping business is involved in transportation of crude oil, petroleum products, gas and dry bulk commodities. The offshore business services to the oil companies in carrying out offshore exploration and production activities, through its subsidiary Greatship (India).

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Jubilant Life Sciences to announce Q3 results
Jan 19,2017

Jubilant Life Sciences announced that a meeting of the Board of Directors of the Company will be held on 07 February 2017, inter alia, to consider Unaudited Financial Results of the Company for the quarter ended 31 December 2016 (Q3).

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Balkrishna Industries drops on profit booking
Jan 19,2017

Meanwhile, the S&P BSE Sensex was up 19.81 points, or 0.07%, to 27,277.45

On the BSE, so far 1,560 shares were traded in the counter, compared with average daily volumes of 15,793 shares in the past one quarter. The stock had hit a high of Rs 1,175.85 and a low of Rs 1,148.65 so far during the day.

The stock hit a record high of Rs 1,280 on 2 December 2016. The stock hit a 52-week low of Rs 551.35 on 26 February 2016. The stock had outperformed the market over the past 30 days till 18 January 2017, rising 5.34% compared with the 3.61% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 13.19% as against Sensexs 3.10% decline.

The large-cap company has equity capital of Rs 19.33 crore. Face value per share is Rs 2.

Net profit of Balkrishna Industries rose 128.67% to Rs 242.92 crore on 14% rise in net sales to Rs 912.15 crore in Q2 September 2016 over Q2 September 2015.

Balkrishna Industries is a leading manufacturer in the off-highway tire market. The company has focused on specialist segments such as agricultural, construction and industrial vehicles as well as earthmoving, port and mining, ATV, and gardening applications.

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Agenda for board meeting of Mega Nirman & Industries
Jan 19,2017

Mega Nirman & Industries announced that the Board of Directors of the Company will meet on 27 January 2017 to consider and approve unaudited financial results of the Company for the quarter ended 31 December 2016. The Board will also consider appointment of additional director. The Board will consider the proposal of investment in Saibollywood Filmcity India for setting up the Bollywood Filmcity Project at Vill- Dikwal Nandos, Malwan, Maharashtra. The Board will also review existing projects.

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WABCO India to consider December quarter results
Jan 19,2017

WABCO India announced that a meeting of the board of directors of the Company is being convened on 31 January 2017, inter alia, to consider and approve the unaudited financial results of the Company for the quarter and period ended 31 December 2016.

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Lakshmi Vilas Bank to grant stock options
Jan 19,2017

Lakshmi Vilas Bank announced that the Nomination Remuneration and Compensation Committee of the Board, in its meeting held on 18 January 2017 has resolved to grant 14,10,190 (Fourteen lakhs ten thousand one hundred and ninety only) options to eligible employees of the Bank. Further, the vesting period & exercise shall be governed by the LVB ESOP 2010 Scheme of the Bank.

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Tayo Rolls to consider allotment of preference shares
Jan 19,2017

Tayo Rolls announced that a meeting of the Committee of the Board will be held on 21 January 2017, for allotment of 7.17% Non-cumulative Redeemable Preference Shares.

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Dalmia Bharat to announce December quarter results
Jan 19,2017

Dalmia Bharat announced that the meeting of the Board of Directors of the Company to be held on 03 February 2017, inter alia, the Board will consider and approve the Unaudited Financial Results of the Company for the nine months/quarter ended on 31 December 2016.

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Board of Narbada Gems & Jewellery to consider issue of shares under scheme of reduction of capital
Jan 19,2017

Narbada Gems & Jewellery announced that the Board of Directors of the Company will meet on 24 January 2017 to consider the issue of 29,65,710 equity shares of Rs 10 each pursuant to scheme of reduction of share capital of the Company as approved by the Honble High Court of Hyderabad in the ratio of 55 share for every 100 shares held by members as on record date of 23 January 2017.

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Econo Trade India to take on record appointment of MD
Jan 19,2017

Econo Trade India announced that the meeting of Board of Directors of the Company will be held on 27 January 2017, to consider and take on record the appointment of Vikash Bagaria as Managing Director of the Company.

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Board of Dazzel Confindive to consider December quarter results
Jan 19,2017

Dazzel Confindive announced that meeting of the Board of Directors of the Company will be held on 06 February 2017 for consideration of unaudited results of the Company for qtr. Ended on 31 December 2016.

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Orient Bell to announce Q3 and 9M results
Jan 19,2017

Orient Bell announced that the next Meeting of Board of Directors of the Company is scheduled to be held on 28 January 2017, inter alia, to consider and approve Un-audited Financial Results of the Company for the quarter and nine months ended 31 December 2016.

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