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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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Zenith Health Care to announce December quarter results
Jan 28,2017

Zenith Health Care announced that a Meeting of the Board of Directors of the Company will be held on 10 February 2017, inter alia, to transact the following business;

- To consider and approve the unaudited financial results of the Company for the quarter ended on 31 December 2016.

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Jan 28,2017

Larsen & Toubro announced that the Board of Directors of the Company at its meeting held on 28 January 2017 approved the scheme of amalgamation between the Company and Spectrum Infotech, a wholly owned subsidiary of the Company and their respective shareholders and creditors.

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Larsen & Toubro allots 2,88,859 equity shares
Jan 28,2017

Larsen & Toubro has allotted 2,88,859 (Two Lakh Eighty Eight Thousand Eight Hundred Fifty Nine) shares on 28 January 2017 to those grantees who had exercised their options under the Companys Employee Stock Ownership / Option Schemes.

The said shares will rank pari-passu with the existing shares of the Company in all respects.

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Jan 28,2017

Haryana Capfin 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 Unaudited Financial Results of the Company for the quarter ended 31 December 2016.

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Bharat Forge wins prestigious TIME India Global Manufacturer for the Year 2017 award
Jan 28,2017

Bharat Forge announced that Time Inc. awarded Bharat Forge with the prestigious TIME India Global Manufacturer for the Year 2017 at the second annual TIME India Awards.

The awards recognizing Leadership in Indian Manufacturing were presented on 27th January 2017 at the Confederation of India Industrys Partnership Summit in Andhra Pradesh

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Autoriders Finance Board to consider December quarter results
Jan 28,2017

Autoriders Finance announced that the meeting of the Board of Directors of the Company is scheduled to be held on 13 February 2017 inter alia, to consider the following:

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

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Board of Kapil Cotex to consider Q3 and 9M results
Jan 28,2017

Kapil Cotex announced that the Board Meeting of the Board of Directors of the Company will be held on 14 February 2017, inter alia, to consider the following:

- To consider and approve Un-audited Financial Result for the quarter and nine Months ended on 31 December 2016.

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Board of Mazda Properties to consider December quarter results
Jan 28,2017

Mazda Properties announced that a meeting of Board of Directors of the Company is scheduled to be held on 14 February 2017 for the purpose to consider and take on record the Unaudited Financial Results for the quarter ended on 31 December 2016.

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Exdon Trading Company to announce December quarter results
Jan 28,2017

Exdon Trading Company announced the meeting of the Board of Directors of the Company will be held on 11 February 2017, inter alia, to consider the unaudited financial results of the Company for quarter and year ending 31 December 2016.

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Board of Hindustan Wires to consider December quarter results
Jan 28,2017

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Shiva Suitings announced that a Meeting of the Board of Directors of the Company is scheduled to be held on 10 February 2017, to consider the Unaudited Financial Results for the quarter ended 31 December 2016.

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Elpro International to announce December quarter results
Jan 28,2017

Elpro International announced that the meeting of the Board of Directors of the Company is scheduled to be held on 06 February 2017, inter alia, to consider and approve unaudited Financial Results of the Company for the quarter ended on 31 December 2016.

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Board of Manaksia Coated Metals & Industries to consider Q3 and 9M results
Jan 28,2017

Manaksia Coated Metals & Industries announced that the meeting of Board of Directors of the Company will be held on 07 February 2017, inter alia, to consider, approve and take on record the Un-audited Financial Results (both Standalone & Consolidated) of the Company for the quarter and nine months ended 31 December 2016.

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Golden Legand Leasing & Finance to announce December quarter results
Jan 28,2017

Golden Legand Leasing & Finance announced that the meeting of the Board of Directors of the Company will be held on 11 February 2017, inter alia, to consider the unaudited financial results of the company for quarter and year ending 31 December 2016.

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Board of Manaksia to consider Q3 and 9M results
Jan 28,2017

Manaksia announced that the meeting of Board of Directors of the Company will be held on 08 February 2017, inter alia, to consider, approve and take on record the Un-audited Financial Results (both Standalone & Consolidated) of the Company for the quarter and nine months ended 31 December 2016.

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