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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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Kuwer Industries to announce December quarter results
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- To consider and discuss; un-audited financial results for quarter ended on 30 December 2016 and if thought Fit to approve the same.

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Saint-Gobain Sekurit India to announce Q3 and 9M results
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Saint-Gobain Sekurit India announced that a meeting of the Board of Directors of the Company will be held on 30 January 2017, inter-alia, to consider and approve the unaudited financial results for the quarter and nine months ended 31 December 2016.

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Board of Glenmark Pharmaceuticals to consider Q3 and 9M results
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- To approve Un-Audited Financial Results along with Limited Review Report for the quarter ended on 31 December 2016 pursuant to regulation 33 of Listing Obligation and Disclosure Requirement, 2015.

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Satra Properties (India) provides update on Satra Plaza project
Jan 17,2017

Satra Properties (India) announced that Navi Mumbai Municipal Corporation has cancelled Occupation Certificate (OC) including the Revised building permission (Commencement Certificate) of the Company in respect of Plot No.19 and 20, Sector No. 19 D, Vashi Navi Mumbai for its Project Satra Plaza completed in 2012.

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Kirloskar Ferrous Industries resumes Mini Blast Furnace after upgrade
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Jan 17,2017

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IDFC Bank allots 686,720 equity shares
Jan 17,2017

IDFC Bank announced that the Allotment and Share Transfer Committee of the Bank met on 17 January 2017 and allotted 686,720 fully paid up equity shares of Rs. 10 each to the employees in terms of IDFC Bank Employee Stock Option Scheme 2015 (IDFC Bank ESOS-2015) and pursuant to the resolution passed by the shareholders of the Bank at their meeting held on July 27, 2016. Further, IDFC Bank ESOS-2015 is in compliance with the SEBI (Share Based Employee Benefits) Regulations 2014. The total money realized by exercise of the aforesaid options is Rs. 34,088,894.

Post the aforesaid allotment, the Equity Share Capital of the Bank now stands at 3,396,569,645 equity shares of Rs. 10 each, aggregating to Rs. 33,965,696,450.

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YES FINTECH is inviting applications from across the global community till 03 February 2017 on its website www.yesfintech.com. The top 12 selected start ups will finally enroll in a 15 week dual destination program, split between Mumbai and Hyderabad.

Yes Bank has been collaborating with and supporting more than 100 fintech start ups in the country to provide innovative financial solutions to its corporate, SME and retail customer base as part of its Alliances, Relationships and Technology (A.R.T) approach to Digital Banking.

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Yes Bank launches Customizable Saving Bank Account
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