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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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Ravindra Energy to hold board meeting
Oct 25,2016

Ravindra Energy will hold a meeting of the Board of Directors of the Company on 11 November 2016 to consider, approve and take on records the Un-audited Financial Results for the quarter/half year ended September 30, 2016.

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Kkalpana lndustries (India) to hold board meeting
Oct 25,2016

Kkalpana lndustries (India) will hold a meeting of the Board of Directors of the Company on 14 November 2016 to consider and approve the Un-audited Financial Results along with Limited Review Report of the Statutory Auditors thereon of the company for the 02nd quarter ended on September 30, 2016.

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Siddha Ventures to hold board meeting
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Siddha Ventures will hold a meeting of the Board of Directors of the Company on 4 November 2016.

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KGN Industries to hold board meeting
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KGN Industries will hold a meeting of the Board of Directors of the Company on 27 October 2016 To appoint Mr. Ismail Memon as an Additional Director of the Company.

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Vantage Corporate Services to hold board meeting
Oct 25,2016

Vantage Corporate Services will hold a meeting of the Board of Directors of the Company on 11 November 2016 to consider and approve the Un-audited Financial Results for the quarter ended and six months ended September 30, 2016.

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Modipon to hold board meeting
Oct 25,2016

Modipon will hold a meeting of the Board of Directors of the Company on 3 November 2016 to consider, to take on record the Unaudited Financial Results for the quarter ended September 30, 2016.

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GlaxoSmithkline Consumer Healthcare to hold board meeting
Oct 25,2016

GlaxoSmithkline Consumer Healthcare will hold a meeting of the Board of Directors of the Company on 7 November 2016 to consider and take on record the Unaudited Financial Results for the quarter ended September 30, 2016 (Q2) with Limited Review by Statutory Auditors.

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Cil Securities to hold board meeting
Oct 25,2016

Cil Securities will hold a meeting of the Board of Directors of the Company on 12 November 2016 to consider the Un-audited Financial Results of the Company for the Second Quarter ended on September 30, 2016

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CSL Finance to hold board meeting
Oct 25,2016

CSL Finance will hold a meeting of the Board of Directors of the Company on 3 November 2016 to consider and take on record the Un-Audited Financial Results for the quarter ended on September 30, 2016

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Khator Fibre & Fabrics to hold board meeting
Oct 25,2016

Khator Fibre & Fabrics will hold a meeting of the Board of Directors of the Company on 14 November 2016 Approve and take on record the Un-Audited Financial Results for the quarter and half year ended September 30, 2016.

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Pulsar International to hold board meeting
Oct 25,2016

Pulsar International will hold a meeting of the Board of Directors of the Company on 11 November 2016 to take on record the Unaudited Financial Results for the Quarter ended September 30, 2016.

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Rico Auto Industries to hold board meeting
Oct 25,2016

Rico Auto Industries will hold a meeting of the Board of Directors of the Company on 9 November 2016 to consider, the Unaudited Financial Results for the quarter and half year ended September 30, 2016.

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Kalpena Plastiks to hold board meeting
Oct 25,2016

Kalpena Plastiks will hold a meeting of the Board of Directors of the Company on 14 November 2016 to consider and approve the Un-audited Financial Results along with Limited Review Report of the Statutory Auditors thereon of the Company for the 02nd quarter ended on September 30, 2016.

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Nava Bharat Ventures jumps after stake sale in subsidiary companies
Oct 25,2016

The announcement was made after market hours yesterday, 24 October 2016.

Meanwhile, the BSE Sensex was down 110.23 points, or 0.39%, to 28,068.85.

On BSE, so far 2.64 lakh shares were traded in the counter, compared with average daily volume of 1.55 lakh shares in the past one quarter. The stock hit a high of Rs 144.50 and a low of Rs 139.50 so far during the day. The stock hit a 52-week high of Rs 145.60 on 5 October 2016. The stock hit a 52-week low of Rs 64 on 12 February 2016. The stock had outperformed the market over the past 30 days till 24 October 2016, rising 15.42% compared with 1.71% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 11.55% as against Sensexs 0.72% rise.

The small-cap company has equity capital of Rs 35.72 crore. Face value per share is Rs 2.

Nava Bharat Ventures said it successfully completed sale of 100% of the shares of Nava Bharat Lao Energy (NBLE) and thereby its 70% shareholding in Namphak Power Co (NPCL), by Nava Bharat (Singapore) (NBS), Nava Bharat Ventures (NBVL) said in a BSE filing.

NBS has entered into a sale and purchase agreement with Chaleun Sekong Group Sole Co., a company registered and existing under the Laws of the Lao PDR, to sell 100% equity stake in NBLE (wholly owned subsidiary of NBS) and thereby its 70% equity stake in NPCL which has been developing the 150 megawatts (MW) Hydel Power Project in Lao PDR.

According to the statement, NBLE and NPCL have ceased to be the subsidiaries of NBS and Nava Bharat Ventures with immediate effect.

The company said that the transaction was profitable and it not required to invest any more.

On a consolidated basis, net profit of Nava Bharat Ventures declined 32.05% to Rs 29.21 crore on 9.32% decline in net sales to Rs 313.72 crore in Q2 June 2016 over Q2 June 2015.

Nava Bharat Ventures (NBV) is a diversified organization with interests in power generation, ferro alloys, mining and agri-business. The company is in business for nearly four decades and operates in different geographies spanning across India and Africa.

Nava Bharat (Singapore) (NBS), a wholly owned subsidiary of NBV, is the overseas investment arm in various business verticals and geographies.

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Country Club Hospitality & Holidays to hold board meeting
Oct 25,2016

Country Club Hospitality & Holidays will hold a meeting of the Board of Directors of the Company on 3 November 2016 To approve the Sale of certain non-core assets of the Company, subject to the approval of members through Postal Ballot.

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