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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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Board of 63 Moons Technologies appoints MD & CEO
Feb 10,2017

63 Moons Technologies announced that the Board of Directors of the company at its meeting held on 09 February 2017 have appointed S Rajendra as MD & CEO in place of Prashant Desai with effect from 10 February 2017.

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PGCIL moves higher after good Q3 result
Feb 10,2017

The result was announced after market hours yesterday, 9 February 2017.

Meanwhile, the S&P BSE Sensex was up 37.45 points or 0.13% at 28,367.15

On BSE, so far 1.10 lakh shares were traded in the counter as against average daily volume of 3.82 lakh shares in the past one quarter. The stock hit a high of Rs 206 and a low of Rs 200.80 so far during the day. The stock had hit a record high of Rs 208.85 on 31 January 2017. The stock had hit a 52-week low of Rs 129.25 on 29 February 2016.

The large-cap company has equity capital of Rs 5231.59 crore. Face value per share is Rs 10.

Power Grid Corporation of India is a state run electric power transmission utility company. The Government of India holds 57.9% stake in the firm as at 31 December 2016.

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Board of ITI approves allotment of 8 crore equity shares to President of India
Feb 10,2017

ITI announced that the Board of Directors in its meeting held on 09 February 2017, considered and approved the issue and allotment of 8,00,00,000 equity shares of Rs. 10 each at par amounting to Rs. 80,00,00,000 to President of India. The said allotment of equity shares is made pursuant to BIFR order dated 08 January 2013, sanctioning the revival scheme of the Company.

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Board of ITI approves allotment of 8 crore equity shares to Government of India
Feb 10,2017

ITI announced that the Board of Directors in its meeting held on 09 February 2017, considered and approved the issue and allotment of 8,00,00,000 equity shares of Rs. 10 each at par amounting to Rs. 80,00,00,000 to President of India. The said allotment of equity shares is made pursuant to BIFR order dated 08 January 2013, sanctioning the revival scheme of the Company.

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Cosmo Films drops after Q3 result disappoints
Feb 10,2017

The result was announced after market hours yesterday, 9 February 2017.

Meanwhile, the S&P BSE Sensex was up 49.70 points, or 0.18%, to 28,379.40.

On the BSE, 12,000 shares were traded on the counter so far as against the average daily volumes of 12,793 shares in the past one quarter. The stock had hit a high of Rs 364 and a low of Rs 352 so far during the day.

The stock had hit a record high of Rs 431 on 20 October 2016 and a 52-week low of Rs 212.50 on 29 February 2016.

The mid-cap company has equity capital of Rs 19.44 crore. Face value per share is Rs 10.

Cosmo Films is one of the global leaders and manufacturers of biaxially oriented polypropylene (BOPP) films used for packaging, labels and lamination applications. The company is the largest exporter of BOPP films from India and is also the largest producer of thermal lamination films in the world with plant cum distribution centres in India, Japan, Korea and the US along with global channel partners in more than fifty countries.

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3M India falls after poor Q3 financial performance
Feb 10,2017

The result was announced after market hours yesterday, 9 February 2017.

Meanwhile, the S&P BSE Sensex was up 61.25 points, or 0.22%, to 28,390.95

On BSE, so far 198 shares were traded in the counter as against average daily volume of 1,645 shares in the past one quarter. The stock hit a high of Rs 11,863 and a low of Rs 11,600 so far during the day. The stock hit a record high of Rs 15,200 on 26 July 2016. The stock hit a 52-week low of Rs 10,325.20 on 12 February 2016.

The large-cap companys equity capital is Rs 11.27 crore. Face value per share is Rs 10.

3M India provides industrial, automotive, electrical, telecom and safety products.

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Board of ICRA approves buyback of shares for an aggregate upto Rs 40 crore
Feb 10,2017

ICRA announced that the Board of Directors of the Company at its meeting held on 09 February 2017 approved the proposal for buyback of the Companys equity shares for a total amount not exceeding Rs 40 crore and at a price not exceeding Rs 4500 per equity share.

At the maximum buyback price and maximum buyback size, the indicative number of equity shares bought back would be 88,888 equity shares (comprising around 0.889% of the existing paid up share capital of the company).

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Ind-Swift Laboratories intimates of fire incident
Feb 10,2017

Ind-Swift Laboratories announced that a fire broke out in one of the manufacturing block of the Company situated at Derabassi Punjab. There was no causality but loss of goods for which the company is assessing the value of the loss.

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GPT Infraprojects secured order worth Rs 217 crore
Feb 10,2017

GPT Infraprojects has bagged an order valued at Rs 217 crore from Rail Vikas Nigam for construction of important and major steel girder bridges, along with foundation, substructure and related protection works in connection with Mathura Jhasi third line in Agra and Jhasi Division of North Central Railway in the State of U.P., M.P and Rajasthan.

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Mahalaxmi Seamless to hold board meeting
Feb 10,2017

Mahalaxmi Seamless will hold a meeting of the Board of Directors of the Company on 10 February 2017 to take on record the Unaudited/Audited Financial Results for the 3rd Quarter ended December 31, 2016.

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Next Mediaworks to hold board meeting
Feb 10,2017

Next Mediaworks will hold a meeting of the Board of Directors of the Company on 15 February 2017, to consider and approve issue of equity shares, on preferential basis, to Ferari Investments And Trading Company Private Limited (Promoter Group entity) for an amount not exceeding Rs. 3.50 Crores.

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Sreechem Resins to hold board meeting
Feb 10,2017

Sreechem Resins will hold a meeting of the Board of Directors of the Company on 14 February 2017.

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Piramal Enterprises to hold board meeting
Feb 10,2017

Piramal Enterprises will hold a meeting of the Board of Directors of the Company on 13 February 2017.

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Bhagawati Gas to hold board meeting
Feb 10,2017

Bhagawati Gas will hold a meeting of the Board of Directors of the Company on 14 February 2017.

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Jain Studios to hold board meeting
Feb 10,2017

Jain Studios will hold a meeting of the Board of Directors of the Company on 14 February 2017.

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