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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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Econo Trade India to take on record appointment of MD
Jan 19,2017

Econo Trade India announced that the meeting of Board of Directors of the Company will be held on 27 January 2017, to consider and take on record the appointment of Vikash Bagaria as Managing Director of the Company.

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Board of Dazzel Confindive to consider December quarter results
Jan 19,2017

Dazzel Confindive announced that meeting of the Board of Directors of the Company will be held on 06 February 2017 for consideration of unaudited results of the Company for qtr. Ended on 31 December 2016.

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Orient Bell to announce Q3 and 9M results
Jan 19,2017

Orient Bell announced that the next Meeting of Board of Directors of the Company is scheduled to be held on 28 January 2017, inter alia, to consider and approve Un-audited Financial Results of the Company for the quarter and nine months ended 31 December 2016.

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Board of Just Dial to consider Q3 results and allotment of shares under ESOP
Jan 19,2017

Just Dial announced that a meeting of the Board of Directors of the Company will be held on 27 January 2017, inter alia, to consider the following business as under:-

1. To consider, approve and take on record the Unaudited Financial Results of the Company along with the Limited Review Report for the 3rd quarter ended 31 December 2016(Q3).

2. To consider allotment of equity shares of the Company each having a face value of Rs. 10/- to certain employees of the Company, upon exercise of options by such employees under the relevant Employee Stock Option Schemes.

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Board of Shivkrupa Machineries & Engineering Services to consider preferential issue of shares
Jan 19,2017

Shivkrupa Machineries & Engineering Services announced that the meeting of the Board of Directors of the Company will be held on 23 January 2017, inter alia, to consider and discuss the following items:

- To consider issue and allot, subject to approval of the Shareholders and Stock Exchanges where the Shares of the Company are Listed, equity Shares on Preferential Basis for consideration other than cash and for cash as per SEBI (ICDR) Regulations and also decide the matters consequential thereto.

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Agro Tech Foods spurts after strong Q3 outcome
Jan 19,2017

The result was announced after market hours yesterday, 18 January 2017.

Meanwhile, the BSE Sensex was up 17.74 points, or 0.07%, to 27,275.38.

On the BSE, so far 28,000 shares were traded in the counter, compared with average daily volumes of 1,302 shares in the past one quarter. The stock had hit a high of Rs 521.50 and a low of Rs 458 so far during the day.

The stock hit a 52-week high of Rs 560 on 30 August 2016. The stock hit a 52-week low of Rs 422.05 on 23 December 2016. The stock had underperformed the market over the past 30 days till 18 January 2017, rising 2.87% compared with the 3.61% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 10.29% as against Sensexs 3.10% decline.

The small-cap company has equity capital of Rs 24.37 crore. Face value per share is Rs 10.

Agro Tech Foods is engaged in the business of marketing food and food ingredients to consumers. It is affiliated to ConAgra Foods, Inc. of USA, which is one the worlds largest food companies.

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Sunflag Iron & Steel Company to consider Q3 results
Jan 19,2017

Sunflag Iron & Steel Company announced that the Meeting of the Board of Directors of the Company will be held on 28 January 2017, inter alia, to note, review, consider and take on record (approval), the Statement of Un-Audited Financial Results (Standalone) of the Company for the Third Quarter (Q-3) ended 31 December 2016.

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Board of Gujarat Meditech to consider December quarter results
Jan 19,2017

Gujarat Meditech announced that a meeting of the board of directors of the Company will be held on 06 February 2017, for consideration of unaudited results of the Company for qtr. Ended on 31 December 2016.

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Oberoi Realty to announce December quarter results
Jan 19,2017

Oberoi Realty announced that a meeting of the Board of Directors of the Company will be held on 25 January 2017, inter alia, to consider and approve the un-audited financial results of the Company for the quarter ended 31 December 2016.

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PMAY(Urban) housing approvals cross 15 lakh mark with an investment of Rs.82,708 cr
Jan 19,2017

Ministry of Housing & Urban Poverty Alleviation has asked all the States and Union Territories to submit proposals for construction of affordable houses for urban poor at the earliest so that the Housing For All target in urban areas could be met by 2022 as envisaged. This was conveyed by Dr. Nandita Chatterjee, Secretary(HUPA) during a meeting of the Central Screening and Monitoring Committee (CSMC). She urged the States and UTs to expedite submission of proposals as per the latest demand assessment undertaken by them.

During the CSMC meeting, the Ministry of HUPA has approved construction of 78,703 affordable houses for the benefit of Economically Weaker Sections in the States of Tamil Nadu, Kerala and West Bengal with an investment of Rs.2,956.32 cr. Central assistance of Rs.1,180.54 cr has been approved for construction of these houses.

With yesterdays approvals, the total number of houses approved for the benefit of urban poor under Pradhan Mantri Awas Yojana (Urban), launched in June last year reached 15,48,846. Total investment approved for construction of these houses is Rs.82,708 cr with central assistance of Rs.21,125.36 cr.

The Ministry approved 52,336 more houses for EWS in Tamil Nadu with an investment of Rs.1,942.24 cr and central assistance of Rs.785.04 cr. With this, the total number of houses approved for Tamil Nadu under PMAY(Urban) has gone up to Rs.2,26,572 with an investment of Rs.8,144 cr and central assistance of Rs.3,461 cr.

The approvals include 2,992 more houses for Chennai, 1,384 for Tiruppur, 1,088 for Madurai, 1,025 for Edanganasalai, 965 for Marakkanam, 931 for Kottakuppam, 905 for Coimbattore, 700 for Thanjavur, 450 for Namagiripettai and 437 for Vadalur.

West Bengal today got 21,285 more houses with an investment of Rs.861.62 cr and central assistance of Rs.319.27 cr. with this, total number of affordable houses approved for the State under PMAY (Urban) has increased to 1,44,016 with an investment of Rs.5,835 cr and central assistance of Rs.2,168 cr.

The approvals include, Bidhannagar-6,067 houses, Uluberia-5,899, Siliguri-2,000, Jalpaiguri-1,945, Jangipur-1,415, New Barrackpore-797, Dinhata-715, Ranaghat-594. Coochbehar-517 and Mathabhanga-439.

The Ministry of HUPA approved 5,082 houses for the benefit of urban poor in Kerala with an investment of Rs.152.46 cr and central assistance of Rs.76.23 cr. Total number of houses approved for the State so far has gone up to 22,467 with an investment of Rs.755 cr and central assistance of Rs.363 cr.

The approvals include; Kochi-1,528 houses, Nedumangadu-850, Manjeri-530, Chavakkad-355, Thiruvalla-361, Kayamkulam-305, Vatakara-270, Tripunithura-240, Mallapuram-229, Thalassery-210 and Thrissur-204.

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Board of Infibeam Incorporation to consider fund raising by preferential issue of convertible securities
Jan 19,2017

Infibeam Incorporation announced that the meeting of the Board of Directors of the Company will be held on 24 January 2017, to consider and approve the fund raising by way of preferential issue of warrants and /or any other convertible securities, subject to approval of members of the Company and other necessary permissions, sanctions etc., as may be necessary, under the applicable provisions of the Companies Act, 2013, read with rules made thereunder, along with applicable SEBI (ICDR) Regulations, 2009, as amended, SEBI (LODR) Regulations, 2015, as amended, and other applicable SEBI Rules & Regulations and other laws.

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Board of Vedavaag Systems approves preferential issue of convertible warrants
Jan 19,2017

Vedavaag Systems announced that the Board of Directors of the Company at its meeting held on 18 January 2017 have approved the allotment of One crore warrants convertible into equity shares at an issue price of Rs 39 (including premium of Rs 29 per share) on receipt of requisite amount to the promoters and others on preferential basis.

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Boston Bio Systems to consider December quarter results
Jan 19,2017

Boston Bio Systems announced that a meeting of the board of directors of the Company will be held on 06 February 2017, for consideration of unaudited results of the Company for quarter ended on 31 December 2016.

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HCL Technologies gets High Court approval for proposed composite scheme of arrangement and amalgamation
Jan 19,2017

HCL Technologies has received the sanction from Honble High Court of Delhi for the proposed Composite Scheme of Arrangement and Amalgamation (Scheme) amongst Geometric (the Demerged Company/ Transferor Company), HCL Technologies (Transferee Company No. 1) and 3D PLM Software Solutions (Transferee Company No. 2) vide order dated 18 January 2017.

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Board of TIL to consider Q3 and 9M results
Jan 19,2017

TIL announced that a meeting of the Board of Directors of the Company is scheduled to be held on 30 January 2017, inter-alia, to consider and approve the Unaudited Financial Results of the Company for the third quarter and nine months period ended on 31 December 2016, subject to Limited Review by the Statutory Auditors.

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