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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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The existing customers of Subsidiary Banks will have access to SBI global network which has presence in all the time zones
Mar 18,2017

The Cabinet in its meeting on 15th February, 2017 has approved the proposal of acquisition of subsidiary banks of State Bank of India (SBI) i.e. State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank of Travancore with State Bank of India. It shall come into effect on 1st April, 2017. The merger is aimed at economies of scale and operational efficiency leading to improved supervision process, compliance and productivity in addition to better risk management.

Detailed plans have been chalked out for re-organisation of SBI network including branches of the Associate Banks.

The aggregation of credit exposures by six entities and its oversight by one entity, post merger, imparts focus and helps in better management of the overall credit portfolio especially stressed assets.

Unified operations and efficiency improves productivity, customer service and profitability.

The existing customers of Subsidiary Banks will have access to SBI global network which has presence in all the time zones.

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A total of 3590 hospitals and 25,732 Dispensaries provide AYUSH medical treatment in the country
Mar 18,2017

A total of 3590 hospitals providing AYUSH medical treatment in the country were functional as on 01.04.2016. These include 2820 hospitals of Ayurveda, 256 of Unani, 273 Siddha hospitals, 7 of Yoga, 30 of Naturopathy and 203 homoeopathy hospitals. The number of AYUSH dispensaries in the country as on 01.04.2016 were 25,732. The number of AYUSH registered practitioners in the country as on 01.01.2016 were 7,71,468.

The Central Government, through Centrally Sponsored Scheme of National AYUSH Mission (NAM), extends support for promotion of AYUSH healthcare to the States/UTs for co-location of AYUSH facilities at Primary Health Centres (PHCs), Community Health Centres (CHCs) and District Hospitals (DHs) for development of infrastructure, purchase of equipment & furniture and supply of essential AYUSH medicines. NAM also extends support for development of AYUSH educational institution, Quality control of Ayurveda, Siddha, Unani & Homoeopathy (ASU & H) drugs and Medicinal Plants. Further, under National Health Mission (NHM), support is provided to States/UTs for strengthening their healthcare systems including for mainstreaming of AYUSH based on the requirements posed by the States/UTs in their Programme Implementation Plans (PIPs). These supports also include support for engagement of AYUSH doctors/paramedics in public health facilities.

The AYUSH Ministry has set up National Institutes and Research Centres in a few States which will be extended to other states gradually. Post Graduate courses in AYUSH medicine have been started in these National institutes to meet the demand for good quality professionals, the Minister explained. Shri Shripad Naik also said that the AYUSH Ministry is working with the Ministry of Health & Family Welfare to provide AYUSH Medicines at the 3000 Government medical stores across the country.

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Narendra Investments (Delhi) to hold board meeting
Mar 18,2017

Narendra Investments (Delhi) will hold a meeting of the Board of Directors of the Company on 5 April 2017, to approve the Audited Financial Results of the Company for the quarter and year ending 31st March, 2017 and to recommend a dividend, if any, for the financial year ending 31st March, 2017

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Five Universities identified by UGC for Yoga department and courses from academic year 2016-17
Mar 18,2017

There are 03 institutions under the Ministry of AYUSH, which are imparting education in Yoga and Naturopathy including Yoga and Naturopathy in the country :-

(a) Central Council for Research in Yoga & Naturopathy (CCRYN), 61-65, Institutional Area, Janakpuri, New Delhi - 110 058

(b) Morarji Desai National Institute of Yoga (MDNIY), 68, Ashok Road, New Delhi -110 001

(c) National Institute of Naturopathy (NIN), Bapu Bhavan, Tadiwala Road, Pune, Maharashtra - 411001

Further, University Grants Commission (UGC) identified the following Central Universities to start the Yoga Department and courses on Yoga from the academic session 2016-17:

a. Hemwati Nandan Bahuguna Garhwal University

b. Visva Bharati, Shantiniketan

c. Central University of Rajasthan

d. Central University of Kerala

e. Indira Gandhi National Tribal University

f. Manipur University

There are 08 OPDs run by CCRYN, which provide Yoga therapy to the patients. National Institute of Naturopathy is conducting a Naturopathy & Yoga OPD at its HQ office. Apart from this, they are also running a Sanatorium for HIV+ve persons as an IPD at Panchagani, Dist. Satara.

CCRYN is in the process of establishing Yoga and Naturopathy institutions in the country; which are as under :-

(1). Establishment of 02 Post Graduate Institutes of Yoga and Naturopathy Education and Research (PGIYNER) with 200 bedded Yoga and Naturopathy hospital at Jhajjar, Haryana and Nagmangala, Karnataka.

(2). Establishment of 5 CRIs in different States of the country along with 100 bedded indoor hospital facilities to carry out in depth research studies to establish the efficacy of Yoga and Naturopathy in various remedies.

The Ministry of AYUSH has approved a proposal to establish Naturopathy Hospital, Medical College, Research Unit and Gandhi Memorial at new site Kondhwa, Pune under NIN.

The Ministry has not made any assessment regarding the interest of people towards Naturopathy and Yoga. However, there is a general trend that there is an increase in the number of people registered for Yoga & Naturopathy during last three years. Further, the diseases like digestive disorders, respiratory disorders, skeleton muscular disorders, skin disorders, non-communicable diseases such as diabetes, hypertension, cardiovascular problems, etc. are treated through Naturopathy & Yoga.

National Curriculum Framework (NCF), National Council of Educational Research and Training (NCERT) 2005 recommended Yoga as an Integral Part of Health and Physical Education. Health and Physical Education is a compulsory subject from Class I to Class X and optional from Classes XI to XII. According to National Curriculum Framework 2005, n++the entire group Health and Physical Education and Yoga must be taken together as a comprehensive Health and Physical Education Curriculum, replacing the fragmentary approach current in schools today. As a core part of the curriculum, time allocated for games and for yoga must not be reduced or taken away under any circumstancesn++. Further, they have already developed integrated syllabi on Health and Physical Education from Class I to Class X. The syllabus is available on NCERT website www.ncert.nic.in. The content of Yoga has been included from Class VI onward. It also prepared separate syllabus on Yoga from Upper Primary to Secondary Stage.

NCERT has brought out the following two textual materials for Upper Primary (VI toVIII) and Secondary Stages (IX & X):

(i) Yoga: A Healthy Way of Living (Upper Primary stage) and

(ii) Yoga: A Healthy Way of Living (Secondary Stage)

NCERT organised Yoga Olympiad from school to National Level from 18 to 20 June, 2016.

Government has constituted a National Board for Promotion and Development of Yoga & Naturopathy (NBPDYN), which will also look into the standardization of education & practice of Yoga & Naturopathy.

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Future Lifesytle Fashions incorporates subsidiary - FLFL Lifestyle Brands
Mar 17,2017

Future Lifesytle Fashions has incorporated a subsidiary - FLFL Lifestyle Brands with effect from 17 March 2017.

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Sat Industries provides update on subsidiary - Sah Polymers
Mar 17,2017

Sat Industries announced that its subsidiary, Sah Polymers has been conferred with One Star Export House by Government of India.

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Praj Industries allots 211179 equity shares
Mar 17,2017

Praj Industries has allotted 211179 equity shares under ESOP 2005 on 17 March 2017.

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Mahabir Metallex renamed as SVP housing
Mar 17,2017

Mahabir Metallex has been renamed as SVP housing vide certificate dated 14 March 2017.

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Indian Hotels Co appoints CEO
Mar 17,2017

Indian Hotels Co announced that the Board of Directors of the Company approved the appointment of Giridhar Sanjeevi as the CEO of the Company with effect from 04 May 2017.

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Praj Industries allots 30,333 equity shares
Mar 17,2017

Praj Industries has allotted 30,333 equity shares Under ESOP 2011 on 17 March 2017.

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Inventure Growth & Securities announces change in directorate
Mar 17,2017

Inventure Growth & Securities announced that as the term of Nagji K. Rita as Chairman shall be over as on 31 March 2017, the board has appointed Kanji B. Rita Managing Director of the company as Chairman and Managing Director of the company with effect from 01 April 2017.

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Aditya Birla Fashion & Retail opens Forever 21 store
Mar 17,2017

Aditya Birla Fashion & Retail has inaugurated its first Forever 21 store in Siliguri, West Bengal. With this new store, the Foreever 21 brand has increased its store count to 16.

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Board of Marathon Nextgen Realty approves buyback of shares upto an aggregate Rs 149.52 cr
Mar 17,2017

Marathon Nextgen Realty announced that the Board of Directors at its meeting held on 17 March 2017 has approved a proposal to buy-back up to 54,37,345 Equity Shares of the Company for an aggregate amounting Rs. 149,52,69,875 (hereinafter referred to as the Buy-Back) being 19.12% of the total paid-up equity share capital, at Rs. 275/- (Rupees Two Hundred & Seventy Five only) per Equity Share (hereinafter referred to as the Buy-Back Price).

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Dena Bank to get capital infusion of Rs 600 crore
Mar 17,2017

Dena Bank announced that the Bank has received a communication from Government of India vide its letter dated 16 March 2017 informing inter alia capital allocation of Rs. 600 crore as part of turnaround linked infusion plan. The Board approval for raising of capital of the Bank through Issue of Equity Shares to Government of India, LIC of India and GIC of India on preferential basis, is being obtained.

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Indiabulls Housing Finance allots NCDs aggregating Rs 50 cr
Mar 17,2017

Indiabulls Housing Finance allotted its sixth tranche of Secured, Redeemable, Non-Convertible Debentures of face value Rs. 10 lakh each (NCDs) aggregating Rs. 50 crore on private placement basis on 17 March 2017.

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