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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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Export of Oilmeals during January 2017 has jumped more than doubled
Feb 08,2017

The Solvent Extractors Association of India (SEA) has compiled the export data for export of oilmeals for the month of January 2017. The export of oilmeals during January 2017 has jumped more than doubled and reported at 165,980 tons compared to 71,890 tons i.e. up by 131%. The overall export of oilmeals during April 2016 to January 2017 is reported at 1,335,894 tons compared to 1,300,465 tons during the same period of last year.

SEA has revised export data from April16 onward for soybean meal and de-oiled rice bran with update data collected for export by surface transport to neighboring countries.

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Esaar (India) appoints compliance officer
Feb 08,2017

Esaar (India) announced that Nitesh Balaram Pandirkar, Whole Time Director of the Company has been appointed as the compliance officer of the Company.

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Orbit Exports fixes record date for interim dividend and bonus issue
Feb 08,2017

Orbit Exports has fixed record date of 15 February 2017 for the purpose of payment of Interim Dividend for Financial Year 2016-2017 and also for allotment of the Bonus shares in the proportion of 1 (One) Bonus Equity Shares of Rs. 10/- (Rupees Ten only) each for every 1 (One) fully paid - up Equity Shares of Rs. 10/- (Rupees Ten Only).

The Company had earlier fixed the record date of 14 February 2017 for payment of interim dividend.

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Havells India forays into personal grooming segment
Feb 08,2017

Havells India announced its foray into personal grooming segment with the launch of array of high quality personal care product like Electric Shavers, Beard Trimmers, Grooming kit n++] Precision nose and ear Trimmer, Hair Straighteners & Dryers, Bikini Trimmer. The company also, for the first time n the country, launched baby hair clippers. These exclusively designed products will be available in the price range of Rs 1000n++] Rs 7200.

The products would initially be available in all major cities of the country and over 400 exclusive Havells Galaxies where consumers can touch and feel products. The entire range would be available across the country by end of March, 2017. Apart from this, the company would be selling products through online en++]commerce platforms.

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Tata Elxsi partners with M-Star Semiconductor Inc.
Feb 08,2017

Tata Elxsi announced a global partnership with M-Star Semiconductor Inc., a leading global semiconductor company for display and digital home solutions, to provide a comprehensive suite of software for MStarsSystem-on-a-Chip (SoC) targeted at Set-Top Boxes (STB).

This partnership brings together industry leading MStar STB chipset solutions with Tata Elxsis solutions and professional services. Communication service providers, MSOs and OEMs are expected to gain from the partnership. As part of this partnership, Tata Elxsis n++RDK Primen++ suite is made available on MStar STB chipset products. The suite is optimized to exploit the functionality for next-generation application demands from end consumers.

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Snowman Logistics plunges after reverse turnaround in Q3
Feb 08,2017

The result was announced after market hours yesterday, 7 February 2017.

Meanwhile, the S&P BSE Sensex was down 39.01 points or 0.14% at 28,296.15

On BSE, so far 1.35 lakh shares were traded in the counter as against average daily volume of 1.65 lakh shares in the past one quarter. The stock hit a high of Rs 60.10 and a low of Rs 58.35 so far during the day. The stock had hit a record low of Rs 46.20 on 29 February 2016. The stock had hit a 52-week high of Rs 93.85 on 2 August 2016.

The small-cap company has equity capital of Rs 167.09 crore. Face value per share is Rs 10.

Snowman Logistics net sales declined 16.14% to Rs 47.61 crore in Q3 December 2016 over Q3 December 2015. Earnings before interest, taxation, depreciation and amortization (EBITDA) fell 3% to Rs 11.02 crore in Q3 December 2016 over Q3 December 2015.

Snowman Logistics is an integrated temperature controlled logistics services provider with an ability to service customers on a pan India basis.

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Jamna Auto Industries director resigns
Feb 08,2017

Jamna Auto Industries announced that C. K. Vohra has resigned from the Board of Directors of the Company. The Board of Directors vide resolution passed by circulation dated 07 February 2017 has accepted his resignation.

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Lords Chloro Alkali to hold board meeting
Feb 08,2017

Lords Chloro Alkali will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consideration, approval and publication of Un-audited Quarterly Financial Results for the quarter/period ended on 31 December 2016.

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Classic Global Finance & Capital to hold board meeting
Feb 08,2017

Classic Global Finance & Capital will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider and approve the Unaudited Financial Results of the Company for the quarter ended on 31 December 2016.

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VKJ Infradevelopers to hold board meeting
Feb 08,2017

VKJ Infradevelopers will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider and approve the Unaudited Financial Results of the Company for the quarter ended on 31 December 2016.

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Filatex Fashions to hold board meeting
Feb 08,2017

Filatex Fashions will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider Un-Audited financial results, inter alia, of the Company for the Quarter ended as on 31 December 2016.

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DLF to hold board meeting
Feb 08,2017

DLF will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider and approve the Unaudited Financial Results for the quarter and nine months ended 31 December 2016 (Q3).

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Satkar Finlease to hold board meeting
Feb 08,2017

Satkar Finlease will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider and approve the Unaudited Financial Results of the Company for the quarter ended on 31 December 2016.

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Negotium International Trade to hold board meeting
Feb 08,2017

Negotium International Trade will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider and approve the Unaudited Financial Results of the Company for the quarter ended on 31 December 2016.

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Bell Agromachina to hold board meeting
Feb 08,2017

Bell Agromachina will hold a meeting of the Board of Directors of the Company on 14 February 2017, to approve Un-Audited Financial Results along with Limited Review Report for the Quarter and nine months period ended on 31 December 2016.

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