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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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TPL Plastech to table quarterly results
Jul 20,2017

TPL Plastech will hold a meeting of the Board of Directors of the Company on 10 August 2017.

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Sterlite Tech surges 23.33% in two sessions post Q1 results
Jul 20,2017

The stock had catapulted 8.98% to Rs 172.30 yesterday, 19 July 2017 after the company announced Q1 results during market hours on that day. The stock jumped 23.33% in two sessions to its current price, from a close of Rs 158.10 on 18 July 2017.

Meanwhile, the S&P BSE Sensex was up 19.83 points, or 0.06% to 31,975.18. The S&P BSE Mid-Cap index was down 17.65 points, or 0.12% to 15,241.18.

A sharp jump in volumes was witnessed on the counter. On the BSE, 17.89 lakh shares were traded in the counter so far as against average daily volume of 1.8 lakh in the past one quarter. The stock had hit a high of Rs 196 in intraday trade, which is also a record high for the stock. The stock had hit a low of Rs 174.40 so far during the trading session. The stock had hit 52-week low of Rs 73.85 on 30 September 2016.

The stock had outperformed the market over the past one month till 19 July 2017, gaining 14.6% compared with Sensexs 2.06% rise. The scrip had also outperformed the market in past one quarter, rising 19.53% as against Sensexs 8.93% rise. The scrip had also outperformed the market in past one year, surging 93.49% as against Sensexs 15% rise.

The mid-cap company has equity capital of Rs 79.93 crore. Face value per share is Rs 2.

Sterlite Technologies consolidated net profit fell 4.82% to Rs 60.59 crore on 5.76% rise in total income to Rs 751.19 crore in Q1 June 2017 over Q4 March 2017.

The companys consolidated net profit surged 61% to Rs 61 crore on 23% rise in revenues to Rs 744 crore in Q1 June 2017 over Q1 June 2016.

Sterlite Tech reported highest ever quarterly revenues in Q1 June 2017, driven by strong order book and export sales. The company reported the highest ever quarterly export sales of Rs 320 crore and highest order book of Rs 3140 crore at the end of Q1 June 2017.

With positive shifts in technology, national policies and consumption patterns for the creation of smarter broadband infrastructure, Q1 June 2017 saw optical fibre demand showing a consistent upward trend in the global markets. This reflected with healthy increase in exports at 43% of revenues.

Sterlite Technologies is a global technology leader that designs, builds and manages smarter digital networks.

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Munoth Financial Services to hold board meeting
Jul 20,2017

Munoth Financial Services will hold a meeting of the Board of Directors of the Company on 31 July 2017.

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Dynemic Products to hold board meeting
Jul 20,2017

Dynemic Products will hold a meeting of the Board of Directors of the Company on 29 July 2017.

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Euro Leder Fashion to discuss results
Jul 20,2017

Euro Leder Fashion will hold a meeting of the Board of Directors of the Company on 31 July 2017.

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UPL to convene board meeting
Jul 20,2017

UPL will hold a meeting of the Board of Directors of the Company on 31 July 2017.

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Shakti Pumps (India) to discuss quarterly results
Jul 20,2017

Shakti Pumps (India) will hold a meeting of the Board of Directors of the Company on 28 July 2017.

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Munoth Communication schedules board meeting
Jul 20,2017

Munoth Communication will hold a meeting of the Board of Directors of the Company on 31 July 2017.

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Vantage Corporate Services to convene board meeting
Jul 20,2017

Vantage Corporate Services will hold a meeting of the Board of Directors of the Company on 31 July 2017.

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Ushdev International to take up quarterly results
Jul 20,2017

Ushdev International will hold a meeting of the Board of Directors of the Company on 26 July 2017.

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Savita Oil Technologies schedules board meeting
Jul 20,2017

Savita Oil Technologies will hold a meeting of the Board of Directors of the Company on 28 July 2017.

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Hindustan Petroleum Corporation to convene board meeting
Jul 20,2017

Hindustan Petroleum Corporation will hold a meeting of the Board of Directors of the Company on 4 August 2017.

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Progressive Extractions & Exports to hold board meeting
Jul 20,2017

Progressive Extractions & Exports will hold a meeting of the Board of Directors of the Company on 26 July 2017.

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CHL to hold board meeting
Jul 20,2017

CHL will hold a meeting of the Board of Directors of the Company on 4 August 2017.

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Sunil Healthcare to convene board meeting
Jul 20,2017

Sunil Healthcare will hold a meeting of the Board of Directors of the Company on 10 August 2017.

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