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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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Indag Rubber to hold board meeting
Jul 06,2017

Indag Rubber will hold a meeting of the Board of Directors of the Company on 14 August 2017 to consider, the financial results for the quarter and three months ended 30th June, 2017.

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Super Sales India to hold board meeting
Jul 06,2017

Super Sales India will hold a meeting of the Board of Directors of the Company on 4 August 2017 Quarterly Results

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Betala Global Securities reports standalone net profit of Rs 0.01 crore in the June 2017 quarter
Jul 06,2017

Net profit of Betala Global Securities reported to Rs 0.01 crore in the quarter ended June 2017. There were no net profit/loss reported during the previous quarter ended June 2016. Sales remain constant at Rs 0.01 crore in the quarter ended June 2017 and also during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales0.010.01 0 OPM %100.000 - PBDT0.010 0 PBT0.010 0 NP0.010 0

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Kore Foods reports standalone net loss of Rs 0.22 crore in the June 2017 quarter
Jul 06,2017

Net Loss of Kore Foods reported to Rs 0.22 crore in the quarter ended June 2017 as against net loss of Rs 0.32 crore during the previous quarter ended June 2016. There were no Sales reported in the quarter ended June 2017 as against Rs 0.20 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales00.20 -100 OPM %0-135.00 - PBDT-0.20-0.29 31 PBT-0.22-0.32 31 NP-0.22-0.32 31

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Ravindra Energy receives commissioning certificate from KPTC
Jul 06,2017

Ravindra Energy has received Commissioning Certificate from Karnataka Power Transmission Commission that the following four Limited Liability Partnerships in which the Company is a Partner have commissioned Ground Mounted Solar Power Projects of the aggregate capacity of 8 MW -

Hunsankodilli Solar Power Project LLP
Chennamanagathihalli Solar Power Project LLP
Marakka Solar Power Project LLP

Kulagoda Solar Power Project LLP

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Hindustan Wires to hold AGM
Jul 06,2017

Hindustan Wires announced that the 57th Annual General Meeting(AGM) of the company on 1 September 2017.

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Keltech Energies to hold board meeting
Jul 06,2017

Keltech Energies will hold a meeting of the Board of Directors of the Company on 21 July 2017 Financial Results (provisional) for the quarter ended, 30th June, 2017.

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Kashyap Tele-Medicines to hold board meeting
Jul 06,2017

Kashyap Tele-Medicines will hold a meeting of the Board of Directors of the Company on 6 July 2017.

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Aqua Pumps Infra Ventures to hold board meeting
Jul 06,2017

Aqua Pumps Infra Ventures will hold a meeting of the Board of Directors of the Company on 13 July 2017 This is to inform you that pursuant to Regulation 29 & 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the meeting of the Board of Directors of the Company has been scheduled to be held on Thursday, 13th July 2017, inter alia, to consider and approve the Un-audited Financial Results of the Company for the quarter ended 30th June, 2017 and also hereby give the intimation for closure of Trading window.

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Tata Motors reduces prices of commercial vehicles
Jul 06,2017

Tata Motors announced that following roll out of GST, the Company has decided to pass on the benefits to its customers in the ex-showroom prices. The Company has reduced the prices of commercial vehicles (cargo) in the range of 0.3% to 4.21% and prices of commercial vehicles (passenger transport) are reduced in the range of 0.6% to 8.2%.

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Natco Economicals appoints company secretary and compliance officer
Jul 06,2017

Natco Economicals announced the appointment of Shipra Mapara as company secretary & compliance officer of the Company with effect from 06 July 2017.

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UltraTech Cement to hold board meeting
Jul 06,2017

UltraTech Cement will hold a meeting of the Board of Directors of the Company on 18 July 2017 to consider and approve the un-audited financial results of the Company for the quarter ended 30th June, 2017.

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Karuturi Global to hold board meeting
Jul 06,2017

Karuturi Global will hold a meeting of the Board of Directors of the Company on 12 July 2017 Approval of AGM,Directors report,appointment of Scrutinizer,ratification of auditors,any other matter with permission of Chairman.

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Megasoft to hold AGM
Jul 06,2017

Megasoft announced that the 17th Annual General Meeting(AGM) of the company on 28 July 2017.

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National Fertilizers jumps after achieving record sale of fertilizers
Jul 06,2017

The announcement was made during market hours today, 6 July 2017.

Meanwhile, the S&P BSE Sensex was up 115.39 points, or 0.37% to 31,360.95. The S&P BSE Mid-Cap index was up 27.32 points, or 0.18% to 14,929.31.

On the BSE, 5.95 lakh shares were traded in the counter so far, compared with average daily volumes of 1.60 lakh shares in the past one quarter. The stock had hit a high of Rs 81.35 and a low of Rs 73.35 so far during the day. The stock hit a 52-week high of Rs 89.50 on 11 May 2017. The stock hit a 52-week low of Rs 29.65 on 22 November 2016.

The stock had underperformed the market over the past one month till 5 July 2017, sliding 10.88% compared with 0.18% rise in the Sensex. The scrip also underperformed the market in past one quarter, falling 5.14% as against Sensexs 4.40% rise. The scrip, however, outperformed the market in past one year, advancing 101.94% as against Sensexs 15.01% rise.

The mid-cap company has equity capital of Rs 490.58 crore. Face value per share is Rs 10.

National Fertilizer said that the company has achieved record sale of fertilizers, close to one million tons in the first quarter of the current financial year ending 31 March 2018 (FY 2018), witnessing a growth of more than 30% over the corresponding period of previous year.

Net profit of National Fertilizer surged 224.97% to Rs 89.01 crore on 13.41% rise in net sales to Rs 1863.13 crore in Q4 March 2017 over Q4 March 2016.

National Fertilizers is the second largest producer of urea in the country with a total share of 15.5% and largest urea producer amongst public sector urea producing companies. The company is engaged in producing and marketing of Neem Coated Urea, Bio-Fertilizers (solid & liquid) and other allied Industrial products like Ammonia, Nitric Acid, Ammonium Nitrate, Sodium Nitrite and Sodium Nitrate.

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