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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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JM Financial to pay interim dividend for FY 2016-17
Jan 23,2017

JM Financial announced that the interim dividend of Re 0.65 per share for FY 2016-17 shall be paid on and from 06 February 2017.

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Board of JM Financial declares interim dividend
Jan 23,2017

JM Financial announced that the Board of Directors of the Company at its meeting held on 23 January 2017, inter alia, has declared an interim dividend of Re. 0.65 per share for the financial year 2016-17. The said interim dividend, will be paid on and from 06 February 2017.

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PTL Enterprises provides update on scheme of demerger
Jan 23,2017

PTL Enterprises has submitted to BSE the certified copy of the order dated 16 December 2016 issued by the Honble High Court of Kerala on 20 January 2017 approving scheme of demerger of Medicare and Healthcare Undertaking of PTL Enterprises into Artemis Global Life Sciences (formerly known as PTL Projects)(Scheme).

The Scheme was listed before the Delhi High Court on 18 January 2017 wherein it was directed that the matter shall stand transferred to the National Company Law Tribunal for hearing on 15 February 2017.

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Board of Jayant Agro Organics to consider Q3 results and 3rd interim dividend
Jan 23,2017

Jayant Agro Organics announced that the meeting of the Board of Directors of the Company is scheduled on 04 February 2017, inter alia, to take on record, the unaudited financial results (Provisional) for the quarter and nine months ended 31 December 2016 and to consider the declaration of 3rd Interim Dividend on equity shares, if any, for the financial year 2016-17.

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Surana Telecom and Power provides update on scheme of arrangement
Jan 23,2017

Surana Telecom and Power announced that the Company had submitted certified true copy of the above Order of Honble High Court sanctioning the Scheme of Arrangement with Registrar of Companies vide e-form on 23 January 2017. Consequently, the scheme has become effective from 23 January 2017.

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Motilal Oswal Financial Services to consider December quarter results and interim dividend
Jan 23,2017

Motilal Oswal Financial Services announced that the Meeting of the Board of Directors of the Company will be held on 30 January 2017, inter alia, to consider the following matters:-

1. The unaudited financial results (provisional) of the Company for the third quarter and nine months ended 31 December 2016;

2. The unaudited consolidated financial results (provisional) of the Company and its subsidiaries for the third quarter and nine months ended 31 December 2016;

3. The Limited Review Report of the Statutory Auditors of the Company for the third quarter and nine months ended on 31 December 2016 for the aforesaid unaudited standalone and consolidated financial results; and

4. Declaration of Interim Dividend, if any, for the financial year ending 31 March 2017 and fix record date for the purpose.

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Bhagyanagar India provides update on scheme of arrangement
Jan 23,2017

Bhagyanagar India announced that that the Company had submitted certified true copy of the Order of Honble High Court sanctioning the Scheme of arrangement with Registrar of Companies vide e-form on 23 January 2017. Consequently, the scheme has become effective from 23 January 2017.

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DIC India to consider December quarter results
Jan 23,2017

DIC India announced that the meeting of the Board of Directors of the Company has been convened to be held on 08 February 2017, inter alia, to consider and take on record the Audited Financial Results for the year ended 31 December 2016 and declaration of dividend, if any.

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JM Financial fixes record date for interim dividend
Jan 23,2017

JM Financial has fixed 03 February 2017 as the Record Date for the purpose of payment of Interim Dividend.

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Board of Alankit to consider Q3 results and interim dividend
Jan 23,2017

Alankit announced that a meeting of the Board of Directors of the Company is scheduled to be held on 30 January 2017, inter alia, to consider and take on record the followings:

1. To consider and adopt Unaudited Standalone Financial results and Limited Review Report (under Ind-AS) of the Company for the 3rd quarter ended 31 December 2016.

2. To ratify the appointment of Preeti Chadha as Company Secretary and to take note of her Change in Designation.

3. To Consider the Declaration of Interim Dividend.

4. To Constitute the Corporate Social responsibility Committee of the Board.

5. To consider the purchase of shares of Alankit Global Resources DMCC.

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Board of Ashoka Buildcon declares interim dividend
Jan 23,2017

Ashoka Buildcon announced that the Board of Directors of the Company at its meeting held on 23 January 2017, inter alia, has declared Interim Dividend for FY 2016-17 @ 0.80 per equity share of Rs. 5/- each fully paid.

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Ashoka Buildcon fixes record date for interim dividend
Jan 23,2017

Ashoka Buildcon has fixed 03 February 2017 as the Record Date for the purpose of Interim Dividend and the payment of dividend / dispatch of dividend warrants will be completed within 30 days of declaration of interim dividend i.e. on or before 22 February 2017.

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Board of Punit Commercials to consider Q3 and 9M results
Jan 23,2017

Punit Commercials announced that the Meeting of the Board of Directors of the Company is scheduled to be held on 10 February 2017, inter-alia, to consider and approve the following:

1. Approve and take on record the Un-Audited Financial Results for the quarter and nine months ended 31 December 2016.

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Excel Industries to consider Q3 and 9M results
Jan 23,2017

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

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Board of RTCL to consider December quarter
Jan 23,2017

RTCL announced that a Meeting of Board of Directors of the Company is scheduled to be held on, 14 February 2017, inter alia, to consider and take on record the Unaudited Financial Results of the Company for the quarter ended 31 December 2016.

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