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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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Izmo to hold board meeting
Feb 07,2017

Izmo will hold a meeting of the Board of Directors of the Company on 13 February 2017, to consider unaudited financial results and the limited review report of Auditor for the 3rd quarter ended 31 December 2016;Further issue of share capital (preferential issue) & compliance thereto.

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MOIL to hold board meeting
Feb 07,2017

MOIL will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider and approve the Un-audited financial results of the Company for the quarter and nine months ended on December 131, 2016, declare Interim Dividend for Financial year 2016-17

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Virgo Global to hold board meeting
Feb 07,2017

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

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Samyak International to hold board meeting
Feb 07,2017

Samyak International will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider and approve unaudited financial results of the company for the quarter and nine months ended on 31 December 2016.

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Agarwal Industrial Corporation to hold EGM
Feb 07,2017

Agarwal Industrial Corporation announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 2 March 2017 .

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Gujarat Metallic Coal & Coke to hold board meeting
Feb 07,2017

Gujarat Metallic Coal & Coke will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider and take on record un-audited financial results of the Company for the Quarter ended 31 December 2016.

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Ramky Infrastructure to hold board meeting
Feb 07,2017

Ramky Infrastructure will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider and adopt the Unaudited Financial Results of the company for the Quarter ended 31 December 2016 amongst other matters.

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Vintage Securities to hold board meeting
Feb 07,2017

Vintage Securities will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider, approve and take on record the Un-Audited Financial Results of the Company for the quarter and nine months ended 31 December 2016.

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Dhanada Corporation to hold board meeting
Feb 07,2017

Dhanada Corporation will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider and approve the unaudited Financial Result of the Company for the Quarter ended 31 December 2016.

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Suvidha Infraestate Corporation to hold board meeting
Feb 07,2017

Suvidha Infraestate Corporation will hold a meeting of the Board of Directors of the Company on 13 February 2017, to consider and approve the unaudited Financial Result of the Company for the Quarter ended 31 December 2016.

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Thakkers Developers to hold board meeting
Feb 07,2017

Thakkers Developers will hold a meeting of the Board of Directors of the Company on 14 February 2017, to take on record of Unaudited Financial Results for the Quarter ended 31 December 2016.

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RCI Industries & Technologies to hold board meeting
Feb 07,2017

RCI Industries & Technologies will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider and approve Unaudited Standalone & Consolidated Financial Results along with Limited Review Report for the Quarter and Nine Months ended 31 December 2016.

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Value Industries to hold board meeting
Feb 07,2017

Value Industries will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider and take on record the Un-audited Financial Results for the quarter and period ended on 31 December 2016.

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PNB gains after strong Q3 results
Feb 07,2017

The result was announced during trading hours today, 7 February 2017.

Meanwhile, the BSE Sensex was down 154.38 points, or 0.54%, to 28,284.90.

On the BSE, so far 41.87 lakh shares were traded in the counter, compared with average daily volumes of 11.67 lakh shares in the past one quarter. The stock had hit a high of Rs 155.60 and a low of Rs 147.80 so far during the day.

The stock hit a 52-week high of Rs 164.30 on 11 November 2016. The stock hit a 52-week low of Rs 69.40 on 17 February 2016.

The large-cap state-run bank has equity capital of Rs 425.59 crore. Face value per share is Rs 2.

The Punjab National Banks gross non-performing assets (NPAs) stood at Rs 55627.51 crore as on 31 December 2016 as against Rs 56465.63 crore as on 30 September 2016 and Rs 34338.22 crore as on 31 December 2015.

The ratio of gross NPAs to gross advances stood at 13.70% as on 31 December 2016 as against 13.63% as on 30 September 2016 and 8.47% as on 31 December 2015.

The ratio of net NPAs to net advances stood at 9.09% as on 31 December 2016 as against 9.10% as on 30 September 2016 and 5.86% as on 31 December 2015.

The banks provisions and contingencies (excluding tax provisions) fell 22.24% to Rs 2935.86 crore in Q3 December 2016 over Q3 December 2015.

Provision coverage ratio of the bank was at 54.96% as on 31 December 2016.

Government of India holds 65.013% stake in Punjab National Bank (as on 31 December 2016).

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Housing Development & Infrastructure to hold board meeting
Feb 07,2017

Housing Development & Infrastructure will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider and approve Un-audited Financial Results of the Company for the Third Quarter and Nine Months ended 31 December 2016 (Q3)

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