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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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Pioneer Distilleries commences operations at MENA plant in Balapur
Jan 31,2017

Pioneer Distilleries announced that it has recommenced the operations of the 100 Kilo Liters Per Day (KLPD) Molasses Based Extra Neutral Alcohol (MENA) plant at the factory located at Balapur (V), Dharmabad (Taluk), Nanded District, Maharashtra with effect from 30 January 2017.

The company had temporarily stopped manufacturing activities of the said MENA plant account of shortage in water availability due to less rains during monsoon season in the region and overhauling of the boilers and the dryer.

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V-Mart Retail appoints company secretary & compliance officer
Jan 31,2017

V-Mart Retail announced Megha Tandon has been appointed as Company Secretary & Compliance Officer w.e.f. 30 January 2017.

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Alankit fixes record date for interim dividend
Jan 31,2017

Alankit has fixed 09 February 2017 as the Record Date for the purpose of Payment of Interim Dividend.

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SRF fixes record date for 2nd interim dividend
Jan 31,2017

SRF has fixed 20 February 2017, as the Record Date for the purpose of Payment of Second Interim Dividend.

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Motilal Oswal Financial Services to pay interim dividend for FY 2017
Jan 31,2017

Motilal Oswal Financial Services announced that interim dividend of Rs 2.50 per share for FY 2017 would be paid to all the equity shareholders of the Company on or before 23 February 2017.

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Board of Motilal Oswal Financial Services declares interim dividend for FY 2017
Jan 31,2017

Motilal Oswal Financial Services announced that the Board of Directors of the Company at its Meeting held on 30 January 2017, inter alia,, considered and approved the following matters:-

- declaration of Interim Dividend, for the financial year ending 31 March 2017 at the rate of Rs. 2.50 per share on the face value of Re. 1 each, out of the profits of the Company.

The said Interim Dividend would be paid to all the equity shareholders of the Company on or before 23 February 2017.

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Tech Mahindra may gain after posting strong Q3 results
Jan 31,2017

Tech Mahindras consolidated profit after tax rose 32.77% to Rs 856 crore on 5.44% growth in revenue to Rs 7557.50 crore in Q3 December 2016 over Q2 September 2016. The result was announced at the fag end of the trading session yesterday, 30 January 2017.

The companys consolidated profit after tax rose 30.8% to $126.3 million on 4.1% growth in revenue at $1116.1 million in Q3 December 2016 over Q2 September 2016. EBITDA rose 9.2% to $175 million in Q3 December 2016 over Q2 September 2016.Cash and cash equivalent stood at Rs 4951 crore as of 31 December 2016.

Vineet Nayyar, Vice Chairman, Tech Mahindra said that the strong deal wins and business momentum during the quarter reaffirm that the company is on the right track to capitalize on the opportunities from the global digital transformation, and see measurable benefits from that.

Maruti Suzuki India inaugurated its 200th NEXA showroom in Hyderabad. The announcement was made after market hours yesterday, 30 January 2017. Launched in July 2015, NEXA, the premium automotive retail channel of Maruti has enabled the company to attract newer categories of customers.

Tata Power Company announced that Welspun Renewables Energy Private Limited (WREPL), a wholly-owned step down subsidiary of the company which has been recently acquired, has successfully issued and allotted guaranteed, redeemable, rated, taxable, non-cumulative, non-convertible debentures of face value of Rs 10 lakh each, aggregating to Rs 1200 crore on a private placement basis. The announcement was made after market hours yesterday, 30 January 2017.

Bajaj Auto, ICICI Bank, Indian Oil Corporation and ONGC will announce Q3 results today, 31 January 2017.

Thyrocare Technologies said that the board of directors of the company has decided to discontinue, with immediate effect, the existing arrangement with companys wholly-owned subsidiary, Nueclear Healthcare (NHL), by which the company was sourcing PET-CT business for them against a fee of 20% of the amount charged by them. The announcement was made after market hours yesterday, 30 January 2017.

Pfizers net profit rose 4.37% to 62.37 crore on 2.58% fall in total income to 536.75 in Q3 December 2016 over Q3 December 2015. The announcement was made after market hours yesterday, 30 January 2017.

State Bank of Travancore announced revision in marginal cost of funds based lending rate (MCLR) to be applicable from 1 February 2017. The banks overnight marginal cost of funds based lending rate (MCLR) was fixed at 7.95%, one month MCLR was fixed at 8.15%, three month MCLR was fixed at 8.25%, six months MCLR was fixed at 8.4% and one year MCLR was fixed at 8.55%. MCLR on two-year loans will be 8.6% and for three-year loans the rate will be 8.65%. The announcement was made after market hours yesterday, 30 January 2017.

Pioneer Distilleries announced that it has re-commenced the operations of the 100 kilo liters per day (KLPD) molasses based extra neutral alcohol (MENA) plant(s) at the factory located at Balapur (V), Dharmabad (Taluka), Nanded District, Maharashtra, with effect from 30 January 2017. The announcement was made after market hours yesterday, 30 January 2017.

The company had earlier informed temporary stoppage of the manufacturing activities of the plant on account of shortage in water availability due to less rains during monsoon season in the region and overhauling of the boilers and the dryer.

Dilip Buildcon announced that it has been declared as the successful bidder (L-1) by the Ministry of Road Transport & Highways, Government of India for the recalled project of rehabilitation and up-gradation of Machilipatnam to Avanigadda section of road to two lane with paved shoulder in the state of Andhra Pradesh under NHDP-IV through an engineering, procurement and construction basis. The announcement was made after market hours yesterday, 30 January 2017.

The Ministry of Road Transport & Highways, Government of India had recalled this project because L-1 bid price is higher than the departmental estimate of Rs 222.90 crore.

NRB Bearings announced that a meeting of the board of directors of the company will be held on 8 February 2017, to consider adoption of unaudited financial results for the quarter ended 31 December 2016 and further issue of listed non convertible debentures (NCDs) not exceeding Rs 100 crore on private placement basis. The announcement was made after market hours yesterday, 30 January 2017.

Shriram City Union Finances net profit fell 9.49% to Rs 157.74 crore on 15.5% rise in total income to Rs 1156.33 crore in Q3 December 2016 over Q3 December 2015. The announcement was made after market hours yesterday, 30 January 2017.

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Motilal Oswal Financial Services fixes record date for interim dividend
Jan 31,2017

Motilal Oswal Financial Services has fixed Record Date as 09 February 2017 for the purpose of interim dividend.

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Board of Shyamkamal Investments to consider December quarter results
Jan 31,2017

Shyamkamal Investments announced that a meeting of Board of Directors of the Company is scheduled to be held on 09 February 2017, inter alia, to consider, approve and take on record the following:

Unaudited financial results for the quarter ended 31 December 2016 pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) regulations 2015.

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Board of M3 Global Finance to consider December quarter results
Jan 31,2017

M3 Global Finance announced that next Board Meeting of the Company is scheduled on 03 February 2017, to transact the following business:

1. To review the Financial Results of the Company for the Quarter ended 31 December 2016.

2. To appoint as the Internal Auditors of the Company.

3. To review the Promoter / Executive Management Presentation.

4. To review the Discussion/Questions around strategy and execution.

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CEAT to announce Q3 results
Jan 30,2017

CEAT announced that a meeting of the Board of Directors of the Company will be held on 07 February 2017, inter alia, to consider and approve the Un-audited Financial Results for the quarter ended 31 December 2016 (Q3).

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Board of MMTC approves appointment of director
Jan 30,2017

MMTC announced that Board of Directors of the Company in its meeting held on 30 January 2017, has approved the appointment of Rajnish Goenka, as a Part-Time Non-Official Director on the Board of MMTC for a period of 3 years from the date of issue of order by the Department of Commerce, Ministry of Commerce & Industry Govt of India i.e. w.e.f. 27 January 2017.

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Outcome of board meeting of Ador Fontech
Jan 30,2017

Ador Fontech announced that the Board of Directors of the Company vide its meeting dated 30 January 2017, has decided to exit from the Joint Venture - M/s. Dualrank Fontech (M) Sdn. Bhd.

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Sharad Fibres & Yarn Processors to announce December quarter results
Jan 30,2017

Sharad Fibres & Yarn Processors announced that a Meeting of the Board of Directors of the Company will be held on 14 February 2017, to consider approve unaudited financial results for the quarter ended 31 December 2016.

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Board of Morepen Laboratories to consider Q3 and 9M results
Jan 30,2017

Morepen Laboratories announced that a meeting of Board of Directors of the Company is scheduled to be held on 08 February 2017, inter alia, to consider, approve and take on record the Un-Audited Financial Results of the Company for the Quarter and Nine-months ended 31 December 2016.

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