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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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Kalpa Commercial to hold board meeting
Oct 27,2016

Kalpa Commercial will hold a meeting of the Board of Directors of the Company on 14 November 2016 To consider, Discuss and if thought fit to approve un-audited financial results for quarter ended on September 30, 2016.

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Vidli Restaurants to hold board meeting
Oct 27,2016

Vidli Restaurants will hold a meeting of the Board of Directors of the Company on 8 November 2016 to consider and approve the Unaudited Financial Results for the half year and period ended on September 30, 2016.

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Kuwer Industries to hold board meeting
Oct 27,2016

Kuwer Industries will hold a meeting of the Board of Directors of the Company on 10 November 2016 To consider, Discuss and if thought fit to approve un-audited financial results for quarter ended on September 30, 2016

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OnMobile Global to hold board meeting
Oct 27,2016

OnMobile Global will hold a meeting of the Board of Directors of the Company on 11 November 2016 to consider and approve the unaudited financial results of the Company for the quarter/half year ended September 30, 2016.

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Silverpoint Infratech to hold board meeting
Oct 27,2016

Silverpoint Infratech will hold a meeting of the Board of Directors of the Company on 1 November 2016 To consider and take on record the Unaudited Standalone and Consolidated Financial Result along with Limited Review Report issued by the Statutory Auditors of the Company for the Second Quarter and half year ended September 30, 2016.

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Zylog Systems to hold board meeting
Oct 27,2016

Zylog Systems will hold a meeting of the Board of Directors of the Company on 14 November 2016 To adopt and approve the Unaudited Standalone and consolidated Financial Statement for quarter & half yearly ended September 2016.

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Abhijit Trading Company to hold board meeting
Oct 27,2016

Abhijit Trading Company will hold a meeting of the Board of Directors of the Company on 9 November 2016 to consider and take on record the Unaudited Quarterly Financial Results as per Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 of the Company for the Quarter ended on September 30, 2016.

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Reliance Capital acquires voting rights in iMonitor Solutions India
Oct 27,2016

Reliance Capital has acquired more than 5% voting rights in iMonitor Solutions India. The company is engaged in home automation remote monitoring (Internet of Things).

Reliance Capital has committed to make an investment of upto an amount of Rs 2.90 crore. The investment comprises of 235990 Compulsorily Convertible Preference Shares (CCPS), both at a price of Rs 123.49 per share. Upon allotment of 235990 CCPS, the voting right of Reliance Capital in iMonitor Solutions India on fully diluted basis is 19.94%.

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Mardia Samyoung Capillary Tubes Co. to hold board meeting
Oct 27,2016

Mardia Samyoung Capillary Tubes Co. will hold a meeting of the Board of Directors of the Company on 8 November 2016 to consider and to take on record the unaudited financial results for the quarter ended September 30, 2016.

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Medi Caps to hold board meeting
Oct 27,2016

Medi Caps will hold a meeting of the Board of Directors of the Company on 11 November 2016 To consider & approve the Standalone Un-Audited Financial Results of the Company for the Quarter ended September 30, 2016.

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Shreenath Investment Company to hold board meeting
Oct 27,2016

Shreenath Investment Company will hold a meeting of the Board of Directors of the Company on 25 October 2016.

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Surana Solar to hold board meeting
Oct 27,2016

Surana Solar will hold a meeting of the Board of Directors of the Company on 7 November 2016 to consider the Un-Audited Financial Results of the Company for the Quarter and Half year ended September 30, 2016.

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WW Technology Holdings to hold board meeting
Oct 27,2016

WW Technology Holdings will hold a meeting of the Board of Directors of the Company on 11 November 2016 To consider and adopt the Un-Audited Financial Accounts for the Quarter and half year ended on September 30, 2016.

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Cummins India slips after weak Q2 results
Oct 27,2016

The result was announced after market hours yesterday, 26 October 2016.

Meanwhile, the BSE Sensex was down 121.81 points, or 0.44%, to 27,714.70.

On BSE, so far 12,000 shares were traded in the counter, compared with average daily volume of 39,229 shares in the past one quarter. The stock hit a high of Rs 883.80 and a low of Rs 837 so far during the day. The stock hit a 52-week high of Rs 1,099.50 on 4 November 2015. The stock hit a 52-week low of Rs 746.80 on 26 May 2016. The stock had underperformed the market over the past 30 days till 26 October 2016, falling 2.82% compared with 1.37% decline in the Sensex. The scrip had, however, outperformed the market in past one quarter, falling 0.76% as against Sensexs 1.32% decline.

The large-cap company has equity capital of Rs 55.44 crore. Face value per share is Rs 2.

Cummins Indias gross sales rose 5% to Rs 1331 crore in Q2 September 2016 over Q2 September 2015. Domestic sales grew by 8% to Rs 885 crore in Q2 September 2016 over Q2 September 2015. Exports grew by 1% to Rs 446 crore in Q2 September 2016 over Q2 September 2015.

Anant J. Talaulicar, Chairman & Managing Director (CMD) of Cummins India said that the companys exports continue to face headwinds due to the macroeconomic situation. The company continues to make inroads and gain market share domestically, Anant said. Government led investments in roadways and railways continued to drive Cummins sales growth in the industrial engine segment, the CMD added. Despite exports revenues remaining depressed, the companys strong focus on cost optimization and efficiency improvement has helped it sustain its profitability, Anant said. Cummins remains committed to investing in customer-centric, fit-for-market products and technologies as well as in leadership and diverse talent development to continue delivering profitable growth in the future, Anant said.

Cummins India is a leading manufacturer of diesel and natural gas engines for power generation, industrial and automotive markets.

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Southern Online Bio Technologies to hold board meeting
Oct 27,2016

Southern Online Bio Technologies will hold a meeting of the Board of Directors of the Company on 10 November 2016 to consider and take note of Un-Audited financial Results of the Company for the second quarter and half year ended September 30, 2016.

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