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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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Winy Commercial & Fiscal Services to hold board meeting
Jul 17,2017

Winy Commercial & Fiscal Services will hold a meeting of the Board of Directors of the Company on 28 July 2017 Audited Financial Results (Standalone) for the 1st Quarter(Q1) and financial year ended on 30th June, 2017.

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Transwarranty Finance to hold AGM
Jul 17,2017

Transwarranty Finance announced that the 23th Annual General Meeting(AGM) of the company on 10 August 2017.

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BNK Capital Markets to hold board meeting
Jul 17,2017

BNK Capital Markets will hold a meeting of the Board of Directors of the Company on 31 July 2017 to consider among other things the Un-Audited Financial Results for the 1st quarter ended on 30th June, 2017.

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Hindustan Media Ventures to hold AGM
Jul 17,2017

Hindustan Media Ventures announced that the th Annual General Meeting(AGM) of the company on 20 September 2017.

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United Credit to hold board meeting
Jul 17,2017

United Credit will hold a meeting of the Board of Directors of the Company on 11 August 2017 Unaudited Financial Results for the quarter ended 30th June, 2017

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Hong Kong Market climbs to new two-year high
Jul 17,2017

The Hong Kong stock market rose to a new two-year high on Monday, 17 July 2017, with sentiment aided by robust China economic growth data and signs Chinese money inflows are accelerating. Most sectors rose, with financials leading gains. The Hang Seng Index rose slightly by 0.3% on Monday, or 81.35 to a new two-year high 26,470.58 and marking the sixth day of increases. The Hang Seng China Enterprises Index, also known as the H-share index of Chinese companies listed in the city, added 0.5%, or 55.12 points, to 10,783.19. Turnover increased to HK$93.2 billion from HK$77.5 billion on Friday.

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China Stocks fall most in seven months on Black Monday
Jul 17,2017

The Mainland China equity market finished session down on Monday, 17 July 2017, as top policy makers emphasised on curbing financial risks, stoking concerns about increased scrutiny of the financial system, triggering a decline of nearly 500 stocks by their daily limit of 10%. The Shanghai Composite Index fell 1.4%, or 45.95 points, to 3,176.47 after dropping by as much as 2.2%, while the CSI 300 - which tracks the large caps listed in Shanghai and Shenzhen - dropped 1.1% or 39.53 points, to 3,663.56. The Nasdaq-style ChiNext tumbled 5.1% or 89.14 points to 1,656.43, the lowest since January 2015 and the Shenzhen Composite Index tumbled 4.3%, or 80.47 points, to 1,800.54

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Japan markets closed for Marine Day
Jul 17,2017

Japan markets were closed for Marine Day on Monday, 17 July 2017.

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ITC declines on fears of increase in cess on tobacco
Jul 17,2017

Meanwhile, the S&P BSE Sensex was up 85.05 points or 0.27% at 32,105.80.

On the BSE, 12.89 lakh shares were traded on the counter so far as against the average daily volumes of 10.64 lakh shares in the past one quarter. The stock had hit a high of Rs 335 and a low of Rs 326.75 so far during the day. The stock had hit a record high of Rs 353.20 on 3 July 2017 and a 52-week low of Rs 222.05 on 26 December 2016.

The stock had outperformed the market over the past one month till 14 July 2017, advancing 12.49% compared with the Sensexs 2.78% rise. The stock had also outperformed the market over the past one quarter, gaining 20.54% as against the Sensexs 8.69% rise. The scrip had also outperformed the market over the past one year, advancing 35.5% as against the Sensexs 14.6% rise.

The large-cap company has equity capital of Rs 1216.18 crore. Face value per share is Rs 1.

According to reports, the Goods and Services Tax (GST) Council is likely to meet today, 17 July 2017, to consider a cess on tobacco. After the rollout of GST, excise duty has automatically been removed on tobacco products. Now only GST and cess are levied on these products. GST and cess combined on cigarettes is currently 6-8% lower than pre-GST regime.

ITCs net profit rose 12.1% to Rs 2669.47 crore on 14% growth in net sales to Rs 11125.54 crore in Q4 March 2017 over Q4 March 2016.

ITC is a diversified company, with presence in cigarettes, hotels, paperboards & specialty papers, packaging, agri-business, packaged foods & confectionery, information technology, branded apparel, personal care, stationery and other FMCG products. ITC is a market leader in cigarettes.

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Dion Global Solutions bags two awards
Jul 17,2017

Dion Global Solutions has won two accolades at the Systems in the City Awards in London - Best Innovation Solution and the Companys Global Head Pre-Sales, Suman Rao, won the award for Best Product Manager in the Industry.

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Australia Market ends softer
Jul 17,2017

Australian equity market finished session down on Monday, 17 July 2017, as weakness in the financial sector amid concerns over APRAs new capital rules outweighed gains in energy and material stocks. The S&P/ASX 200 index dropped 0.2%, or 9.619 points, to 5,755.5 at the close of trade.

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RIL jumps 12.51% in eleven sessions
Jul 17,2017

Meanwhile, the S&P BSE Sensex was up 75.86 points or 0.24% at 32,096.61.

On the BSE, 1.99 lakh shares were traded on the counter so far as against the average daily volumes of 3.99 lakh shares in the past one quarter. The stock had hit a high of Rs 1,588.80, which is also a 52-week high for the stock. The stock had hit a low of Rs 1,534.30 so far during the day. The stock had hit a 52-week low of Rs 932 on 9 November 2016.

Shares of Reliance Industries (RIL) have risen 12.51% in eleven trading sessions to its current market price, from its close of Rs 1,380.25 on 30 June 2017.

The stock had outperformed the market over the past one month till 14 July 2017, gaining 12.92% compared with 2.78% gains in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 12.22% as against Sensexs 8.69% gains. The scrip had also outperformed the market in past one year, jumping 52.12% as against Sensexs 14.6% rise.

The large-cap company has equity capital of Rs 3251.74 crore. Face value per share is Rs 10.

RIL stock has surpassed Rs 5 lakh crore market capitalization for the first time in history.

RILs telecom subsidiary Reliance Jio Infocomm (Jio) had announced on 11 July 2017 that Jio Prime Members can enjoy unlimited services for 3 months with Rs 399 plan. The earlier launched Rs 309 plan will provide 2 months of unlimited Jio services.

The company will announce its Q1 results on 20 July 2017. On a consolidated basis, net profit of RIL rose 11.5% to Rs 8053 crore on 42.1% rise in net sales to Rs 84823 crore in Q4 March 2017 over Q4 March 2016.

RIL is Indias largest private sector company. RILs activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and telecommunications.

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Jai Corp to hold board meeting
Jul 17,2017

Jai Corp will hold a meeting of the Board of Directors of the Company on 9 August 2017 to consider and take on record the un-audited standalone financial results of the Company for the quarter ended 30th June, 2017.

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Tribhovandas Bhimji Zaveri to hold board meeting
Jul 17,2017

Tribhovandas Bhimji Zaveri will hold a meeting of the Board of Directors of the Company on 2 August 2017 to consider and approve the unaudited standalone financial results of the Company for the quarter ended 30th June, 2017; and to consider any other business with the permission of the Chair.

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Sri Ramakrishna Mills (Coimbatore) to hold board meeting
Jul 17,2017

Sri Ramakrishna Mills (Coimbatore) will hold a meeting of the Board of Directors of the Company on 28 July 2017 Accounts

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