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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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Gujarat Ambuja Exports fixes record date for buyback of shares
Jan 31,2017

Gujarat Ambuja Exports announced that the Buyback Committee of the Board of Directors of the Company, at its meeting held on 31 January 2017, has fixed 10 February 2017 as the Record Date to determine:

(a) the entitlement and names of the shareholders who are eligible to participate; and

(b) the shareholders to whom the Letter of Offer and Tender Form will be delivered in relation to the Buyback.

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Genus Power Infrastructures fixes record date for interim dividend
Jan 31,2017

Genus Power Infrastructures has fixed 10 February 2017, as the Record Date for the purpose of payment of Interim Dividend.

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Board of Genus Power Infrastructures declares interim dividend
Jan 31,2017

Genus Power Infrastructures announced that the Board of Directors at its meeting held on 31 January 2017, inter alia, has:

- Approved the payment of interim dividend of Re.0.10 (Paisa Ten only) (i.e. at the rate of 10%) per share on the equity share of face value of Re. 1/- each for the financial year ended 31 March 2017. The said Interim dividend shall be paid/dispatched to the eligible shareholders on or before 25 February 2017.

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Greaves Cotton to consider Q3 results and interim dividend
Jan 31,2017

Greaves Cotton announced that a Meeting of the Board of Directors of the Company will be held on 14 February 2017, inter alia, to consider and approve the Unaudited Financial Results of the Company for the third quarter and nine months ended 31 December 2016. The Board of Directors will also consider the declaration of an Interim Dividend for the financial year 2016-17, at the said Meeting.

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Greaves Cotton fixes record date for interim dividend
Jan 31,2017

Greaves Cotton has fixed 24 February 2017 as the Record Date for the purpose of Payment of Interim Dividend, if declared.

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Cipla to announce Q3 results
Jan 31,2017

Cipla announced that a meeting of the Board of Directors of the Company is scheduled to be held on 08 February 2017, inter alia, to consider and approve unaudited financial results (standalone and consolidated) for the quarter and nine months ended 31 December 2016 (Q3).

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Board of Bajaj Holdings & Investment approves proposal to delist GDRs from LSE
Jan 31,2017

Bajaj Holdings & Investment announced that a proposal to delist the GDRs of the Company (161,190 as on 31 December 2016) from the London Stock Exchange has been approved by the Board of Directors at its meeting held on 31 January 2017, subject to compliance of various formalities required in this regard.

The underlying shares arising out of GDRs are listed with BSE and National Stock Exchange of India.

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Board of Arman Holdings to consider December quarter results
Jan 31,2017

Arman Holdings announced that the meeting of the Board of Directors of the Company will be held on 13 February 2017, inter alia, to transact the following:

- The unaudited financial results along with limited review for quarter and nine months ended as on 31 December 2016.

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Board of Avantel to consider Q3 results
Jan 31,2017

Avantel announced that a meeting of Board of Directors of the Company will be held on 09 February 2017, inter alia, to consider and approve the Unaudited Financial Results for the Third Quarter ended 31 December 2016.

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Board of Kamdhenu to consider December quarter results
Jan 31,2017

Kamdhenu announced that a Meeting of the 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 for the quarter ended 31 December 2016.

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Advik Laboratories appoints director
Jan 31,2017

Advik Laboratories announced that the Board of Directors in its meeting held on 31 January 2017, inter-alia, has appointed Madhu Sharma as an Independent Director of the Company w.e.f. 31 January 2017.

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PDS Multinational Fashions to consider December quarter results
Jan 31,2017

PDS Multinational Fashions announced that a Meeting of the Board of Directors of the Company is scheduled to be held on 13 February 2017, inter alia, to consider, approve and take on record the Un-audited Financial Results for the quarter ended 31 December 2016.

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Board of Bloom Industries to consider December quarter results
Jan 31,2017

Bloom Industries announced that the Meeting of the Board of Directors of the Company will be held on 13 February 2017, inter alia, took the following decisions:

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

2. To place and take on record the Limited Review Report on un-audited-financial results for the quarter ended 31 December 2016.

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Board of BCL Enterprises to consider December quarter results
Jan 31,2017

BCL Enterprises announced that a meeting of the Board of Directors of the Company is scheduled to be held on 10 February 2017, inter alia, to consider, approve and take on record the Unaudited Financial Results of the Company for the quarter ended on 31 December 2016.

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Board of Sri Lakshmi Saraswathi Textiles (Arni) to consider Q3 and 9M results
Jan 31,2017

Sri Lakshmi Saraswathi Textiles (Arni) announced that a Meeting of the Board of Directors of the Company will be held on 11 February 2017, to take on record unaudited results for the Third quarter and Nine months ended 31 December 2016.

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