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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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Automobile Products of India to consider Q3 results
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Automobile Products of India announced that a meeting of 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 Third Quarter ended 31 December 2016.

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Board of PG Electroplast to consider December quarter results
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PG Electroplast announced that a meeting of Board of Directors of the Company is scheduled to be held on 13 February 2017, to consider & approve Un-Audited Financial Results for the quarter ended on 31 December 2016.

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SQS India BFSI announced that Board of Directors of the Company at its meeting held on 02 February 2017 has allotted 5000 equity shares under Thinksoft - Employee Stock Option Scheme 2011.

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Savera Industries to consider December quarter results
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Savera Industries announced that a meeting of the Board of Directors of the Company is scheduled to be held on 13 February 2017, to consider and approve amongst other things, the unaudited financial results of the company for the quarter ended 31 December 2016.

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Hindustan Housing Company to consider December quarter results
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Hindustan Housing Company announced that a meeting of the Board of Directors of the Company will be held on 14 February 2017, for taking on record the Unaudited Financial Results of the Company for the Quarter ended on 31 December 2016.

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Board of Madhav Infra Projects to consider Q3 results
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Madhav Infra Projects announced that the meeting of Board of Directors of the Company is scheduled to be held on 14 February 2017, for the following businesses:

- To consider, approve & take on record the Standalone and Consolidated Un-Audited Financial Results of the Company along with Limited Review Report for the third quarter ended on 31 December 2016 as per Regulation 33 of the Listing Regulations.

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Anik Industries to consider December quarter results
Feb 02,2017

Anik Industries announced that a meeting of the Board of Directors of the Company is scheduled to be held on 14 February 2017, inter alia, to consider and approve the Unaudited Financial Results of the Company for the quarter ended on 31 December 2016.

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Board of Creative Castings to consider declaration of interim dividend
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Creative Castings announced that the Board of Directors of the Company may consider the declaration of Interim Dividend, if any, for the financial year 2016-17, in its Board Meeting scheduled to be held on 04 February 2017.

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Feb 02,2017

Fineotex Chemical announced that the meeting of the Board of Directors of the Company is convened on 10 February 2017, inter alia, to consider and approve the un-audited financial results for the quarter ended 31 December 2016, and to consider declaration of Interim Dividend for the financial year 2016-17 and affixation of the Record Date for the same, if declared amongst other matters.

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Board of Sharda Motor Industries declares interim dividend
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Sharda Motor Industries announced that the Board of directors in its meeting held on 02 February 2017, inter alia, has:

- Declared an interim dividend of Rs. 6.25 per equity share i.e. 62.50% of the paid equity share capital for the financial year 2016-17.

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Feb 02,2017

Control Print announced that a meeting of Board of Directors of the Company is scheduled to be held on 13 February 2017, inter alia, for the following items:

1. To consider and approve Un-audited Financial Results for the quarter and nine month ended 31 December 2016;

2. To consider and declare Interim Dividend, if any, for the financial year 2016-2017.

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Board of Symphony to consider December quarter results and 3rd interim dividend
Feb 02,2017

Symphony announced that the meeting of Board of Directors of the Company is scheduled to be held on 10 February 2017, inter alia, to consider and approve the following:

1. Unaudited Financial Results for the third quarter/nine months ended on 31 December 2016;

2. Consider and declare 3rd interim dividend on equity share, if any, for the year 2016-17;

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Sundaram Brake Linings tanks after reporting net loss in Q3
Feb 02,2017

The result was announced during market hours today, 2 February 2017.

Meanwhile, the S&P BSE Sensex was up 50.86 points or 0.18% at 28,192.50.

On the BSE, 18,000 shares were traded on the counter so far as against the average daily volumes of 1,649 shares in the past one quarter. The stock had hit a high of Rs 462 and a low of Rs 412.10 so far during the day.

The stock had hit a 52-week high of Rs 568.60 on 19 September 2016 and a 52-week low of Rs 214 on 12 February 2016. The stock had outperformed the market over the past one month till 1 February 2017, advancing 5.75% compared with the Sensexs 5.69% rise. The scrip had, however, underperformed the market over the past one quarter, sliding 11.52% as against the Sensexs 0.95% rise.

The small-cap company has equity capital of Rs 3.93 crore. Face value per share is Rs 10.

The companys total income from operations declined 9.74% to Rs 54.16 crore in Q3 December 2016 over Q3 December 2015.

Sundaram Brake Linings manufactures automotive, non-automotive, railways and industrial friction materials.

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Take Solutions announced that interim dividend shall be disbursed on or before 03 March 2017.

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