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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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FPIs extend buying
Jan 20,2017

Foreign portfolio investors (FPIs) bought stocks worth a net Rs 247.08 crore from the secondary equity markets on 19 January 2017, as compared with net inflow of Rs 336.58 crore during the preceding trading session on 18 January 2017. The net inflow of Rs 247.08 crore on 19 January 2017 was a result of gross purchases of Rs 4099.83 crore and gross sales of Rs 3852.75 crore. On that day, the Sensex rose 50.96 points or 0.19% to settle at 27,308.60, its highest closing level since 10 November 2016.

There was a net inflow of Rs 226.54 crore into the category primary market & others on 19 January 2017, which was a result of gross purchases of Rs 226.54 crore and nil gross sales.

FPIs have sold stocks worth a net Rs 3324.36 crore in January 2017 so far (till 19 January 2017). They had sold stocks worth a net Rs 8960.36 crore into the secondary equity markets in December 2016. FPIs had purchased shares worth a net Rs 12094.42 crore from the secondary equity markets in calendar year 2016.

There has been a net inflow of Rs 69.33 crore from FPIs from the category primary market & others in January 2017 so far (till 19 January 2017). There was a net inflow of Rs 784.07 crore from FPIs into the category primary market & others in December 2016. The net inflow from FPIs into category primary markets & others had totaled Rs 8471.76 crore in calendar year 2016.

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Board of Bharat Seats approves change in nominee director
Jan 20,2017

The Board of Directors of Bharat Seats at their meeting held on 20 January 2017 has approved the appointment of Toshiya Miki as an Additional Non Executive Director of the Company with effect from 20 January 2017 . Miki is appointed as a Nominee of Suzuki Motor Corporation, Japan, Promoters of Bharat Seats in place of Akio Sano, who resigned on 19 January 2017.

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Board of Panafic Industrials to consider December quarter results
Jan 20,2017

Panafic Industrials announced that a meeting of Board of Directors of the Company will be held on 10 February 2017, inter alia, to approve the Unaudited Financial Results of the Company for the quarter ended on 31 December 2016.

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Board of Oil India to consider Q3 results
Jan 20,2017

Oil India announced that a meeting of the Board of Directors of the Company will be held on 31 January 2017, inter alia, to approve Unaudited Financial Results for the Quarter and nine months ended 31 December 2016 (Q3) on standalone basis.

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Blue Dart Express to announce Q3 results
Jan 20,2017

Blue Dart Express announced that the Meeting of the Board of Directors of the Company will be held on 07 February 2017, inter alia, to take on record the Un-Audited Financial Results for the quarter ended 31 December 2016 (Q3).

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Majesco to announce Q3 and 9M results
Jan 20,2017

Majesco announced that a Meeting of the Board of Directors of the Company is scheduled to be held on 01 February 2017, inter alia, to consider and take on record the unaudited financial results for the third quarter and nine months ended on 31 December 2016.

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Anna Infrastructures to consider December quarter result
Jan 20,2017

Anna Infrastructures announced that the meeting of Board of Directors of the Company is scheduled to be held on 27 January 2017, to consider, approve and take on record the Un-Audited Financial Results for the Quarter ended on 31 December 2016.

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Board of Alkali Metals accepts resignation of company secretary and compliance officer
Jan 20,2017

Alkali Metals announced that the Board of Directors of the Company at its meeting held on 20 January 2017, inter alia, has considered and approved the following items:

- Resignation of M. Karunakar Reddy, as Company Secretary and Compliance Officer of the Company with effect from 21 January 2017.

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National Plywood Industries to announce Q3 results
Jan 20,2017

National Plywood Industries announced that the meeting of the Board of Directors of the Company will be held on 31 January 2017, inter alia, to consider and take on record the Third Un-audited Quarterly Financial Result for the quarter ended 31 December 2016 of the Company.

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International Data Management Board to consider December quarter results
Jan 20,2017

International Data Management announced that the Meeting of the Board of Directors of the Company is scheduled to be held on 02 February 2017, inter alia, to consider and approve the Un-audited Financial Results for the quarter ended 31 December 2016.

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Board of Devhari Exports (India) accepts resignation of CEO
Jan 20,2017

Devhari Exports (India) announced that the Board of Directors of the Company, in their meeting held on 19 January 2017 inter alia approved;

- Resignation of Narendrasinh Manubha Zala, Chief Executive Officer of the Company with immediate effect.

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Board of Williamson Magor & Company to consider December quarter results
Jan 20,2017

Williamson Magor & Company announced that a Meeting of the Board of Directors of the Company will be held 03 February 2017, inter alia, to consider and approve the Unaudited Financial Results of the Company for the quarter ended 31 December 2016.

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Board of Polycon International to consider December quarter results
Jan 20,2017

Polycon International 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 Un-audited Financial Results of the Company for the Quarter ended 31 December 2016.

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Ishwarshakti Holdings & Traders to announce December quarter results
Jan 20,2017

Ishwarshakti Holdings & Traders announced that a meeting of the Board of Directors of the Company for the financial year 2016-2017 is scheduled to be held on 30 January 2017, inter alia, to consider and approve the Un-Audited Financial Results of the Company for the quarter ended 31 December 2016.

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Board of M K Exim (India) to announce December quarter results
Jan 20,2017

M K Exim (India) announced that a meeting of the Board of Directors of the Company will be held on 30 January 2017, inter alia, to consider the un audited stand alone financial results for the quarter ended 31 December 2016.

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