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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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Dhoot Industrial Finance to announce Quarterly Result
Jul 24,2017

Dhoot Industrial Finance will hold a meeting of the Board of Directors of the Company on 1 August 2017, for considering and approving inter alia, the Un-Audited Financial Results of the Company for the quarter ended 30th June 2017.

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Hindustan Zinc AGM scheduled
Jul 24,2017

Hindustan Zinc announced that the 51st Annual General Meeting (AGM) of the company will be held on 18 August 2017.

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LT Foods schedules board meeting
Jul 24,2017

LT Foods will hold a meeting of the Board of Directors of the Company on 10 August 2017, to approve the Unaudited Financial Results of the Company for the quarter ended 30th June 2017.

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Syndicate Bank declares Quarterly Result
Jul 24,2017

Syndicate Bank will hold a meeting of the Board of Directors of the Company on 5 August 2017, for considering and approving the unaudited Financial Results of the Bank for the First Quarter (of the Current Financial Year 2017-2018) ended 30th June 2017.

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Shyam Telecom declares Quarterly Result
Jul 24,2017

Shyam Telecom will hold a meeting of the Board of Directors of the Company on 4 August 2017, to consider, approve and take on records the unaudited financial results of the Company for the quarter ended 30th June 2017.

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ADC India Communications to conduct board meeting
Jul 24,2017

ADC India Communications will hold a meeting of the Board of Directors of the Company on 4 August 2017, to consider and approve the Unaudited Financial Results of the Company for the quarter ended 30 June 2017.

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Oseaspre Consultants to convene board meeting
Jul 24,2017

Oseaspre Consultants will hold a meeting of the Board of Directors of the Company on 31 July 2017, to inter alia consider and approve the Unaudited Financial Results of the Company for the first quarter ended 30th June 2017.

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Munjal Showa to declare Quarterly Result
Jul 24,2017

Munjal Showa will hold a meeting of the Board of Directors of the Company on 9 August 2017, to consider and approve the Un-audited Financial Results for the quarter ended 30 June 2017

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RIL advances after launching JioPhone for free
Jul 24,2017

The outcome of the AGM was disclosed to the stock exchanges after market hours on Friday, 21 July 2017.

Meanwhile, the S&P BSE Sensex was up 188.33 points or 0.59% at 32,217.22.

High volumes were witnessed on the counter. On the BSE, 7.07 lakh shares were traded on the counter so far as against the average daily volumes of 4.14 lakh shares in the past one quarter. The stock had hit a high of Rs 1,624.80 in intraday trade, which is also a 52-week high for the stock. The stock had hit a low of Rs 1,586.20 so far during the day. The stock had hit a 52-week low of Rs 932 on 9 November 2016.

The stock had outperformed the market over the past one month till 21 July 2017, gaining 11.85% compared with 2.38% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 13.32% as against Sensexs 9.07% rise. The scrip had also outperformed the market in past one year, surging 57.56% as against Sensexs 15.58% rise.

The large-cap company has equity capital of Rs 3251.74 crore. Face value per share is Rs 10.

Reliance Industries (RIL) held its 40th annual general meeting (AGM) on Friday, 21 July 2017. RIL Chairman Mukesh Ambani announced the launch of JioPhone, which is a 4G VoLTE-enabled feature phone.

Reliance Jio JioPhone will hit the shelves starting the first week of September, and pre-orders begin 24 August 2017, he said. Reliance Jio has close to 100 million paid customers, added Ambani. Reliance Jio Infocomm (Jio) is a telecom subsidiary of RIL.

RILs consolidated net profit rose 28.3% to Rs 9079 crore on 28.4% to Rs 83471 crore in Q1 June 2017 over Q1 June 2016.

RIL is Indias largest private sector company. RILs activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and telecommunications.

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Zee Entertainment Enterprises provides update on composite scheme of arrangement
Jul 24,2017

Zee Entertainment Enterprises announced that the Composite Scheme of Arrangement among Reliance Big Broadcasting; and Big Magic; and Azalia Broadcast; and Zee Entertainment Enterprises and their respective Shareholders and Creditors has become effective from 21 July 2017 after filing of the certified copy of the Order of the Scheme by all entities forming part of the Scheme with Registrar of Companies, Mumbai.

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Amtek Auto schedules AGM
Jul 24,2017

Amtek Auto announced that the Annual General Meeting (AGM) of the company will be held on 29 September 2017.

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Swarnsarita Gems to discuss results
Jul 24,2017

Swarnsarita Gems will hold a meeting of the Board of Directors of the Company on 26 July 2017, to take a note on resignation of Mr. Sunil G. Jain the Whole Time Director of the Company from the Directorship of the company w.e.f. 26th July 2017.

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Gallantt Ispat to table results
Jul 24,2017

Gallantt Ispat will hold a meeting of the Board of Directors of the Company on 1 August 2017, to consider and approve the Unaudited Financial Results for the Quarter ended 30th June 2017.

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Gallantt Metal schedules board meeting
Jul 24,2017

Gallantt Metal will hold a meeting of the Board of Directors of the Company on 1 August 2017, to consider and approve the Unaudited Financial Results for the Quarter ended 30th June 2017.

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Dishman Pharmaceuticals and Chemicals provides update on subsidiary - Carbogen Amcis
Jul 24,2017

Dishman Pharmaceuticals and Chemicals announced that the Companys wholly owned subsidiary namely CARBOGEN AMCIS AG., Switzerland has successfully completed the Swissmedic Inspection which resulted in the renewal of the GMP-certificates, granted for its all three sites situated at - Bubendorf, Aarau and Neuland.

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