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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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Synthiko Foils to hold board meeting
May 19,2017

Synthiko Foils will hold a meeting of the Board of Directors of the Company on 31 May 2017.

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ATV Projects India to hold board meeting
May 19,2017

ATV Projects India will hold a meeting of the Board of Directors of the Company on 25 May 2017.

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Board of Geecee Ventures does not recommend final dividend
May 19,2017

Geecee Ventures announced that the Board of Directors of the Company at its meeting held on 18 May 2017 has not recommended any final dividend on the equity shares of the Company. The Board has appointed Ashish Ranka as CFO of the Company with effect from 18 May 2017. The Board has appointed Ashwin Kothari and Harisingh Shyamsukha as Whole Time Directors of the Company with effect from 18 May 2017.

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Outcome of board meeting of Manaksia Coated Metals & Industries
May 19,2017

Manaksia Coated Metals & Industries announced that the Board of Directors of the company at its meeting held on 18 May 2017 has approved the following -

(i). Appointment of Sailja Gupta as Company Secretary of the Company with immediate effect.
(ii). Considered, approved and adopted the Audited Financial Statements (both Standalone and Consolidated) for the year ended on 31 March, 2017.
(iii). Considered, approved and adopted the Audited Financial Results (both Standalone and Consolidated) for the quarter and year ended on 31 March, 2017.

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Board of Ashok Alco-Chem accepts resignation of director
May 19,2017

The Board of Directors of Ashok Alco-Chem at its meeting held on 18 May 2017 has approved the resignation of Umesh Kulkarni from the post of Independent Director of the Company with effect from 12 May 2017.

The Board has also recommended final dividend @10%, subject to approval of shareholder.

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Subex provides update on its overseas subsidiary - Subex Americas Inc.
May 19,2017

Subex announced that Subex Americas Inc., an overseas subsidiary of the Company incorporated in Canada, has repaid the principal amounts of loans availed by it aggregating to USD 12,000,000.

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Shares of Housing & Urban Development Corporation get listed
May 19,2017

The equity shares of Housing & Urban Development Corporation (Scrip Code: 540530) are listed effective 19 May 2017 and admitted to dealings on the Exchange in the list of B Group Securities

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Board of Vinyl Chemicals (I) recommends final dividend
May 19,2017

Vinyl Chemicals (I) announced that the Board of Directors of the Company at its meeting held on 17 May 2017, inter alia, have recommended the final dividend of Rs 1.8 per equity Share (i.e. 180%) , subject to the approval of the shareholders.

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Board of Rane Brake Lining recommends final dividend
May 19,2017

Rane Brake Lining announced that the Board of Directors of the Company at its meeting held on 17 May 2017, inter alia, have recommended the final dividend of Rs 9 per equity Share (i.e. 90%) , subject to the approval of the shareholders.

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Sunshine Capital to hold board meeting
May 19,2017

Sunshine Capital will hold a meeting of the Board of Directors of the Company on 27 May 2017, to consider and take on record Audited Quarterly Financial Results of the Company for the Quarter and Financial Year ended on 31st March, 2017

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Board of Sicagen India recommends final dividend
May 19,2017

Sicagen India announced that the Board of Directors of the Company at its meeting held on 17 May 2017, inter alia, have recommended the final dividend of Rs 0.6 per equity Share (i.e. 6%) , subject to the approval of the shareholders.

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Triveni Turbine to pay final dividend
May 19,2017

Triveni Turbine announced that final dividend for FY 2017, if approved by the shareholders at the AGM, will be paid on and from 25 August 2017.

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TCS in focus after collaboration with Qualcomm
May 19,2017

TCS announced that it collaborated with Qualcomm incorporated through its Qualcomm Wireless Reach initiative and FHI 360 to implement a digital solution that enriches lives of the fishing community in Senegal, leveraging the transformative power of wireless technologies. The announcement was made after market hours yesterday, 18 May 2017.

Strides Shasun anounced that it inked a pact with Vivimed Labs to set up two joint venture (JV) firms. The first JV -- a 50:50 joint venture company in India will own a US Food and Drug Administration (USFDA) approved formulation facility in Alathur, Chennai, Strides Shasun said in a regulatory filing. The second JV firm would come up in Singapore and will own various approved abbreviated new drug applications (ANDAs) and product pipeline, it added. The exercise provides additional capacity and de-risks manufacturing infrastructure, the company said. The transaction is expected to close on 31 May 2017. The announcement was made after market hours yesterday, 18 May 2017.

TD Power Systems consolidated net profit spurted 24323.17% to Rs 8.01 crore on 8.41% rise in net total income from operations to Rs 128.63 crore in Q4 March 2017 over Q4 March 2016. The announcement was made after market hours yesterday, 18 May 2017.

Coral India Finance & Housing announced that the meeting of board of directors of the company is scheduled to be held on 5 June 2017 to consider stock split. The announcement was made after market hours yesterday, 18 May 2017.

TeamLease Services consolidated net profit spurted 320% to Rs 38.4 crore on 23% rise in total revenue to Rs 822.5 crore in Q4 March 2017 over Q4 March 2016. The announcement was made after market hours yesterday, 18 May 2017. Net profit was positively impacted by the tax benefits availed under section 80JJAA of the Income Tax Act, 1961 and deferred tax benefits availed from the recently acquired subsidiaries.

Earnings before interest, tax, depreciation and amortization (EBITDA) rose 77% to Rs 14.7 crore in Q4 March 2017 over Q4 March 2016. This was achieved by way of margin expansion in general staffing and contribution from IT staffing during FY 2017.

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Outcome of board meeting of Alfa Transformers
May 18,2017

Alfa Transformers announced that the Board of Directors of the Company at its meeting held on 18 May 2017 approved the following -

Allotment of 6,49,412 Equity Shares of face value of Rs. 10/- each, pursuant to conversion of Fully Convertible Warrants.

The proposal of making Preferential issue of upto 4,40,000 Fully Convertible Warrants each to the persons belonging to Promoter Category and Non- Promoter Category.

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Outcome of board meeting of Sunil Healthcare
May 18,2017

The Board of Directors of Sunil Healthcare in their meeting held on 18 May 2017 has approved the plan for expansion of production capacity of Empty Hard Gelatin Capsule from 11 billion to 13 billion (appox) p.a. for the financial year 2017-18. In preparation for this expansion the company will undertake a partial shutdown of few of its manufacturing lines for a short period on Q1 F.Y. 2017-18.

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