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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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Hero MotoCorp skids after weak sales in December
Jan 03,2017

The announcement was made before market hours today, 3 January 2017.

Meanwhile, the BSE Sensex was down 41.44 points, or 0.16% to 26,550.23.

On the BSE, so far 1,476 shares were traded in the counter, compared with average daily volumes of 27,493 shares in the past one quarter. The stock had hit a high of Rs 3,005.70 and a low of Rs 2,966 so far during the day.

Hero MotoCorps manufacturing facilities at Gurgaon, Neemrana and Haridwar were closed from 26-31 December 2016 on account of annual maintenance.

The companys sales rose 4.3% to 67.62 lakh units in calendar year 2016 over calendar year 2015. It was the highest ever sales in a calendar year.

Net profit of Hero MotoCorp rose 27.7% to Rs 1004.22 crore on 14.2% rise in net sales to Rs 7669.53 crore in Q2 September 2016 over Q2 September 2015.

Hero MotoCorp is the worlds largest two-wheeler manufacturer in terms of production capacity.

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Hero MotoCorp announces sales figures
Jan 03,2017

Hero MotoCorp sold 3,30,202 units in December 2016 compared to 4,99,655 units in December 2015.

The cumulative sales for the period April-December 2016, has risen to 50,24,129 units.

Hero MotoCorp achieved sales of a record 67,62,980 units of two wheelers in the period January - December 2016, recording a growth of 4.3% over the corresponding period of previous year when the Company sold 64,86,103 two-wheeler units.

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Shares of New Light Apparels get listed
Jan 03,2017

The equity shares of New Light Apparels (Scrip Code: 540243) are listed effective 03 January 2017 and admitted to dealings on the Exchange in the list of XT Group Securities.

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Government Constitutes a Committee for Improvement in National Sports Development Code and Functioning of National Sports Federations
Jan 03,2017

In the wake of IOA episode, the Minister of State (I/C) for Youth Affairs and Sports Shri Vijay Goel has decided to constitute a Committee headed by Secretary (Sports) to suggest improvements in the National Sports Development Code and functioning of Sports Federations etc. The committee will give its report within one month.

In the recent past the Ministry has already held meetings with the various stakeholders such as the National Sports Federations, Sports Ministers and Secretaries from different States, Olympians, Arjun Awardees, Dronacharya Awardees, NGOs, field officers of the Sports Authority of India etc. on issues of good governance and transparency.

The new Committee will suggest improvements in the present National Sports Development Code on the basis of suggestions and feedback given in these meetings and submit a report within a month so that Sports Bodies work as per the public expectations for the promotion of sports in the country.

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Hero MotoCorp may drop on weak sales in December
Jan 03,2017

Hero MotoCorp announced before market hours today, 3 January 2017 that sales fell 33.91% to 3.3 lakh units in December 2016 over December 2015. The companys manufacturing facilities at Gurgaon, Neemrana and Haridwar were closed from 26-31 December 2016 on account of annual maintainence.

ICICI Bank announced that it has reduced Marginal Cost of funds based Lending Rate (MCLR) by 0.7% across various maturities with effect from 3 January 2017. The announcement was made after market hours yesterday, 2 January 2017.

HDFC announced the addendum - issue of secured redeemable non-convertible debentures of Rs 1 crore each under shelf disclosure document dated 5 August 2016 aggregating to Rs 35000 crore prepared as per the provisions of SEBI (Issue and Listing of Debt Securities) Regulations, 2008. The announcement was made after market hours yesterday, 2 January 2017.

Tata Motors said its passenger and commercial vehicle total sales rose 2% to 40,944 units in December 2016 over December 2015. The companys domestic sales of Tata commercial and passenger vehicles rose 1% to 35,825 units in December 2016 over December 2015. Exports surged 12% to 5,119 units in December 2016 over December 2015. The sales figures were announced after market hours yesterday, 2 January 2017.

SML Isuzus total sales rose 16.4% to 1,021 units in December 2016 over December 2015. The sales figures were announced after market hours yesterday, 2 January 2017.

Power Grid Corporation of India announced that in terms of Government of India communication on 23 September 2016, on receipt of purchase consideration of Rs 81.21 crore, the company has transferred 3.06 crore equity shares of Rs 10 each of Power System Operation Corporation Limited (POSOCO) to Government of India. The announcement was made after market hours yesterday, 2 January 2017.

Insilco after market hours yesterday, 2 January 2017, said that the company will continue plant shut down due to high inventory and low sales volume and restart in the evening of 4 January 2017. The company had on 19 December 2016, announced shut down of its plant from 19 December 2016 to 2 January 2017.

Great Eastern Shipping Company (G E Shipping) has signed contracts to buy two Suezmax Crude Carriers of about 157,000 dwt each. The 2010 and 2011 built vessels are expected to join the companys fleet in Q4 FY 17. The companys current fleet stands at 38 vessels, comprising 24 tankers (7 crude carriers, 15 product tankers, 2 LPG carriers) and 14 dry bulk carriers (1 Capesize, 7 Kamsarmaxes, 6 Supramaxes) with an average age of 9.89 years aggregating 2.94 million dwt.

Additionally, the company has 2 Secondhand Aframaxes, 1 Secondhand Suezmax and 1 Newbuilding Kamsarmax on order. After delivery of these 6 contracted vessels, the company will have a fleet of 44 vessels. The announcement was made after market hours yesterday, 2 January 2017.

Aban Offshore announced that it has completed the sale of 59% equity shares held by Aban Offshore in Aban Green Power Private Limited and Radhapuram Wintech Private Limited - subsidiaries of Aban Offshore Limited.The company also completed the acquisition of 49% equity shares in Aban Drilling Services Private Limited. The announcement was made after market hours yesterday, 2 January 2017.

Lakshmi Vilas Bank announced that the bank has launched Pradhan Mantri Garib Kalyan Deposit Scheme, 2016 pursuant to the RBI notification dated 16 December 2016. The announcement was made after market hours yesterday, 2 January 2017.

TVS Motor Companys sales fell 8.47% to 1.84 lakh units in December 2016 over December 2015. The announcement was made after market hours yesterday, 2 January 2017.

Zicom Electronic Security Systems announced that Zicom SaaS Private Limited, a wholly owned subsidiary of the company, has launched managed security services in Hyderabad under Make Hyderabad Safe Initiative. The announcement was made after market hours yesterday, 2 January 2017.

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Board of International Paper APPM to review Q3 and 9M results
Jan 02,2017

International Paper APPM announced that a Meeting of the Board of Directors of the Company will be held on 18 January 2017 to consider and approve, inter alia, the Unaudited Financial Results of the Company for the quarter and nine months ended 31 December 2016.

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Kansai Nerolac Paints to announce Q3 results
Jan 02,2017

Kansai Nerolac Paints announced that a meeting of the Board of Directors of the Company will be held on 31 January 2017, inter alia to consider and approve the unaudited financial results for the quarter ended 31 December 2016 (Q3).

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Board of Anjani Synthetics approves change in registered office
Jan 02,2017

The Board of Directors of Anjani Synthetics at its meeting held on 02 January 2017 approved the change in registered office to 221 (Maliya), New Cloth Market, O/S Raipur Gate, Ahmedabad - 380002, Gujarat, India.

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Outcome of board meeting of Veronica Production
Jan 02,2017

Veronica Production announced that the Board of Directors in its meeting held on 02 January 2017, has decided the following matters:

1. Change the face value of equity shares of the Company from Re. 1/- to Rs. 10/- per share.

2. To hold the Shareholders meeting in due course.

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December quarter results of Syngene International
Jan 02,2017

Syngene International announced that the meeting of the Board of Directors of the Company will be held on 24 January 2017, inter alia, to approve and take on record the un-audited financial results for the quarter ended on 31 December 2016.

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Board of CMI to consider preferential issue of securities
Jan 02,2017

CMI announced that the meeting of Board of Directors of the Company will be held on 16 January 2017 to interalia consider issue of equity shares / warrants / convertible securities on Preferential basis to Promoters, Promoter group and associates and to decide the relevant date for the purpose of preferential issue.

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ADC India Communications to announce December quarter results
Jan 02,2017

ADC India Communications announced that a meeting of the Board of Directors of the Company will be held on 27 January 2017, to consider and approve the unaudited financial results of the Company for the Quarter ended 31 December 2016.

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Gaekwar Mills to consider Q3 and 9M results
Jan 02,2017

Gaekwar Mills announced that a Meeting of the Board of Directors of the Company is scheduled to be held on 12 January 2017, inter alia, to consider 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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Board of GHCL to consider December results
Jan 02,2017

GHCL announced that a Board Meeting of the Company, is scheduled to be held on 31 January 2017, inter alia, to consider the reviewed un-audited financial results of the Company for the quarter ended 31 December 2016.

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Thermax to announce Q3 and segment-wise results
Jan 02,2017

Thermax announced that a meeting of the Board of Directors of the Company has been scheduled on 08 February 2017, inter alia, to consider and approve the consolidated unaudited financial results for the quarter and nine months ended 31 December 2016 (Q3) along with related segment-wise financial results.

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