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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 Sobha recommends final dividend
May 17,2017

Sobha announced that the Board of Directors of the Company at its meeting held on 16 May 2017, inter alia, have recommended the final dividend of Rs 2.5 per equity Share (i.e. 25%) , subject to the approval of the shareholders.

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Board of Tata Steel recommends final dividend
May 17,2017

Tata Steel announced that the Board of Directors of the Company at its meeting held on 16 May 2017, inter alia, have recommended the final dividend of Rs 10 per equity Share (i.e. 100%) , subject to the approval of the shareholders.

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Board of Salona Cotspin recommends final dividend
May 17,2017

Salona Cotspin announced that the Board of Directors of the Company at its meeting held on 15 May 2017, inter alia, have recommended the final dividend of Rs 0.6 per equity Share (i.e. 6%) , subject to the approval of the shareholders.

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Board of Rane (Madras) recommends final dividend
May 17,2017

Rane (Madras) announced that the Board of Directors of the Company at its meeting held on 16 May 2017, inter alia, have recommended the final dividend of Rs 4 per equity Share (i.e. 40%) , subject to the approval of the shareholders.

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Board of Standard Industries recommends final dividend
May 17,2017

Standard Industries announced that the Board of Directors of the Company at its meeting held on 16 May 2017, inter alia, have recommended the final dividend of Rs 0.75 per equity Share (i.e. 15%) , subject to the approval of the shareholders.

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Board of Poddar Housing & Development recommends final dividend
May 17,2017

Poddar Housing & Development announced that the Board of Directors of the Company at its meeting held on 16 May 2017, inter alia, have recommended the final dividend of Rs 1.5 per equity Share (i.e. 15%) , subject to the approval of the shareholders.

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Board of Shree Cement recommends final dividend
May 17,2017

Shree Cement announced that the Board of Directors of the Company at its meeting held on 16 May 2017, inter alia, have recommended the final dividend of Rs 24 per equity Share (i.e. 240%) , subject to the approval of the shareholders.

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Board of Symphony recommends final dividend
May 17,2017

Symphony announced that the Board of Directors of the Company at its meeting held on 16 May 2017, inter alia, have recommended the final dividend of Rs 1 per equity Share (i.e. 50%) , subject to the approval of the shareholders.

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Standard Industries to hold AGM
May 17,2017

Standard Industries announced that the Annual General Meeting (AGM) of the company will be held on 31 August 2017.

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Symphony to hold AGM
May 17,2017

Symphony announced that the Annual General Meeting (AGM) of the company will be held on 31 August 2017.

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Board of Tasty Bite Eatables recommends final dividend
May 17,2017

Tasty Bite Eatables announced that the Board of Directors of the Company at its meeting held on 16 May 2017, inter alia, have recommended the final dividend of Rs 2 per equity Share (i.e. 20%) , subject to the approval of the shareholders.

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Board of TCPL Packaging recommends final dividend
May 17,2017

TCPL Packaging announced that the Board of Directors of the Company at its meeting held on 16 May 2017, inter alia, have recommended the final dividend of Rs 6.25 per equity Share (i.e. 62.5%) , subject to the approval of the shareholders.

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Board of Orient Paper & Industries recommends final dividend
May 17,2017

Orient Paper & Industries announced that the Board of Directors of the Company at its meeting held on 16 May 2017, inter alia, have recommended the final dividend of Rs 0.5 per equity Share (i.e. 50%) , subject to the approval of the shareholders.

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FPIs steps up buying
May 17,2017

Foreign portfolio investors (FPIs) bought stocks worth a net Rs 817.31 crore from the secondary equity markets on 16 May 2017, higher than net inflow of Rs 383.90 on 15 May 2017.

The net inflow of Rs 817.31 crore on 16 May 2017 was a result of gross purchases of Rs 5541.76 crore and gross sales of Rs 4724.45 crore.

There was a net inflow of Rs 226.88 crore into the category primary market & others on 16 May 2017, which was a result of gross purchases of Rs 226.98 crore and gross sales of Rs 0.10 crore.

FPIs have purchased stocks worth a net Rs 1759.57 crore into the secondary equity markets in May 2017 so far (till 16 May 2017). They sold stocks worth a net Rs 1645.32 crore in April 2017.

FPIs have purchased shares worth a net Rs 36601.72 crore from the secondary equity markets in calendar year 2017 so far (till 16 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 875.20 crore from the category primary market & others in May 2017 so far (till 16 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 8059.12 crore from the category primary markets & others in calendar year 2017 so far (till 16 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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Cabinet approves proposal to establish Indian Agricultural Institute (IARI) in Assam
May 17,2017

The Cabinet Committee approved the proposal of DARE/ICAR scheme of the establishment of the Indian Agricultural Institute (IARI)- Assam with hundred percent outlay of central government on 587 acres of land provided by the government of Assam. Also, the proposal for 98 positions has been approved.

Agriculture and Farmers Welfare Minister, Shri Radha Mohan Singh said that IARI-Assam would be a Post-Graduate Institute of higher learning in Agricultural Education and it will have all the hallmark identities of IARI in New Delhi including all sectors of agriculture like field crops, horticulture crops, agroforestry, animal husbandry, fisheries, poultry, piggery, silk rearing, honey production, etc.

Shri Singh informed that IARI-Assam would work on the agrarian challenges and complexities of North Eastern India in coordination with all existing central and state government R&D Institutions and private sector enterprises for undertaking research, education, extension programs in its mission towards developing quality human resource, generation of farmer-friendly technologies to enhance productivity, quality, profitability, promote agro-based industries and generate employment opportunities for holistic and sustainable development of the agriculture sector in the North Eastern region. It will be an off campus of IARI, New Delhi and integrated multi-disciplinary research would be undertaken in school mode i.e. Schools of Crop Sciences, Natural Resource Management, and Animal Sciences & Fisheries.

Union Agriculture Minister said that after coming to the power, our Prime Minister Narendra Modiji had announced that for the growth of agriculture sector in the northeastern region, an IARI will be established in Assam. Six months ago, the State Government provided land for the project. Now, with the cabinets approval, the route is clear for this project.

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