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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 continues buying
May 18,2017

Foreign portfolio investors (FPIs) bought stocks worth a net Rs 1160.63 crore from the secondary equity markets on 17 May 2017, higher than net inflow of Rs 817.31 on 16 May 2017.

The net inflow of Rs 1160.63 crore on 17 May 2017 was a result of gross purchases of Rs 6308.52 crore and gross sales of Rs 5147.89 crore.

There was a net inflow of Rs 2.35 crore into the category primary market & others on 17 May 2017, which was a result of gross purchases of Rs 2.35 crore and nil gross sales.

FPIs have purchased stocks worth a net Rs 2920.20 crore into the secondary equity markets in May 2017 so far (till 17 May 2017). They sold stocks worth a net Rs 1645.32 crore in April 2017.

FPIs have purchased shares worth a net Rs 37762.35 crore from the secondary equity markets in calendar year 2017 so far (till 17 May 2017). They had purchased shares worth a net Rs 12094.42 crore from the secondary equity markets in calendar year 2016.

FPIs have purchased stocks worth a net Rs 877.55 crore from the category primary market & others in May 2017 so far (till 17 May 2017). They had bought stocks worth a net Rs 4039.81 crore from the category primary market & others in April 2017.

FPIs have purchased shares worth a net Rs 8061.47 crore from the category primary markets & others in calendar year 2017 so far (till 17 May 2017). The net inflow from FPIs into the category primary markets & others had totaled Rs 8471.76 crore in calendar year 2016.

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Punctual Trading to hold board meeting
May 18,2017

Punctual Trading will hold a meeting of the Board of Directors of the Company on 27 May 2017, for adoption of Audited Results for year ended 31.03.2017.

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Bodal Chemicals to hold board meeting
May 18,2017

Bodal Chemicals will hold a meeting of the Board of Directors of the Company on 25 May 2017, to consider and approve Audited Financial Results/Accounts (Standalone and Consolidated) for the Financial Year ended 31-03-2017.

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Orchid Pharma to hold board meeting
May 18,2017

Orchid Pharma will hold a meeting of the Board of Directors of the Company on 26 May 2017, for approval of Audited financial results for the year April 01,2016 to March 31,2017.

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Satyam Silk Mills to hold board meeting
May 18,2017

Satyam Silk Mills will hold a meeting of the Board of Directors of the Company on 29 May 2017, for adoption of audited result for year ended on 31.03.2017..

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Parth Industries to hold board meeting
May 18,2017

Parth Industries will hold a meeting of the Board of Directors of the Company on 27 May 2017, to consider, adopt and approve Audited Financial Results for the quarter ended on 31st March, 2017, and any other business with the permission of the Chair..

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Gujarat Toolroom to hold board meeting
May 18,2017

Gujarat Toolroom will hold a meeting of the Board of Directors of the Company on 24 May 2017, to consider and approve the audited financial results of the Company for the quarter and year ended on 31st March, 2017, and other businesses.

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International Housing Finance Corpn. to hold board meeting
May 18,2017

International Housing Finance Corpn. will hold a meeting of the Board of Directors of the Company on 25 May 2017, to consider and approve, inter-alia, the Annual Audited Financial Results for the financial year ended 31st March, 2017.

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Scooters India to hold board meeting
May 18,2017

Scooters India will hold a meeting of the Board of Directors of the Company on 25 May 2017, to inter-alia consider and approve the Audited Financial Results for quarter and year ended at March 31, 2017.

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Kisan Mouldings to hold board meeting
May 18,2017

Kisan Mouldings will hold a meeting of the Board of Directors of the Company on 29 May 2017, to approve and take on record the Audited Financial Results for the year ended 31st March, 2017.

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Abacus Computers to hold board meeting
May 18,2017

Abacus Computers will hold a meeting of the Board of Directors of the Company on 25 May 2017, to consider, adopt and approve Audited Financial Results for the quarter ended on 31st March, 2017, and any other business with the permission of the Chair.

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Ajcon Global Services to hold board meeting
May 18,2017

Ajcon Global Services will hold a meeting of the Board of Directors of the Company on 30 May 2017, to consider and approve the standalone and consolidated audited Financial Results of the Company for the quarter and year ended 31st March, 2017.

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Vaarad Ventures to hold board meeting
May 18,2017

Vaarad Ventures will hold a meeting of the Board of Directors of the Company on 27 May 2017, to Consider the Audited Financial Results for the quarter and financial year ended 31st March, 2017.

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Urja Global to hold board meeting
May 18,2017

Urja Global will hold a meeting of the Board of Directors of the Company on 25 May 2017, apart from deliberating other businesses, the Board will also take on record the Audited Financial results for the quarter and year ended on 31st March, 2017.

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Super Bakers (India) to hold board meeting
May 18,2017

Super Bakers (India) will hold a meeting of the Board of Directors of the Company on 30 May 2017, to consider and approve the Standalone Audited Financial Results of the Company for the financial year 2016 17 ended on 31st March, 2017.

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