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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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Chemo Pharma Laboratories to announce Q3 results
Jan 09,2017

Chemo Pharma Laboratories announced that the Meeting of the Board of Directors of the Company will be held on 23 January 2017, to transact the following business:

1. To consider and approve the Un-Audited Financial Results for the quarter ended 31 December 2016.

2. To place and take on record the Limited Review Report on Un-Audited Financial Results for the quarter ended 31 December 2016.

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FPIs step-up selling
Jan 09,2017

Foreign portfolio investors (FPIs) sold stocks worth a net Rs 316.62 crore into the secondary equity markets on 6 January 2017, higher than their net outflow of Rs 39.14 crore during the preceding trading session on 5 January 2017. The net outflow of Rs 316.62 crore on 6 January 2017 was a result of gross purchases of Rs 3510.82 crore and gross sales of Rs 3827.44 crore. On that day, the Sensex fell 119.01 points or 0.44% to settle at 26,759.23, its lowest closing level since 4 January 2017.

There was a net outflow of Rs 1.88 crore from the category primary market & others on 6 January 2017, which was a result of gross purchases of Rs 0.20 crore and gross sales of Rs 2.08 crore.

FPIs have sold stocks worth a net Rs 2469.24 crore in January 2017 so far (till 6 January 2017). They sold stocks worth a net Rs 8960.36 crore into the secondary equity markets in December 2016. FPIs had purchased shares worth a net Rs 12094.42 crore from the secondary equity markets in calendar year 2016.

There has been a net outflow of Rs 153.74 crore from FPIs from the category primary market & others in January 2017 so far (till 6 January 2017). There was a net inflow of Rs 784.07 crore from FPIs into the category primary market & others in December 2016. The net inflow from FPIs into category primary markets & others had totaled Rs 8471.76 crore in calendar year 2016.

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Prime Capital Market to announce Q3 results for FY 2017
Jan 09,2017

Prime Capital Market announced that the meeting of Board of Directors of the Company will be held on 14 February 2017, to consider Un-Audited Financial Results (Provisional) for the 3rd quarter ended on 31 December 2016 (Q-lll) for the financial year ended on 31 March 2017.

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Board of Phoenix Lamps to consider Q3 results
Jan 09,2017

Phoenix Lamps announced that the Meeting of Board of Directors of the Company is scheduled to be held on 11 February 2017, to take on record the Un-Audited Financial Results for the Quarter ended 31 December 2016.

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Board of JMD Telefilms Industries to consider December quarter results
Jan 09,2017

JMD Telefilms Industries announced that the meeting of Board of Directors of the Company will be held on 13 February 2017, to consider Un-Audited Financial Results (Provisional) for the 3rd quarter ended on 31 December 2016 (Q-lll) for the financial year ended on 31 March 2017.

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V B Industries to announce Q3 results
Jan 09,2017

V B Industries announced that the meeting of Board of Directors of the Company will be held on 13 February 2017, to consider Un-Audited Financial Results (Provisional) for the 3rd quarter ended on 31 December 2016 (Q3) for the financial year ended on 31 March 2017.

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Board of Warner Multimedia to consider Q3 results
Jan 09,2017

Warner Multimedia announced that the meeting of Board of Directors of the Company will be held on 14 February 2017, to consider Un-Audited Financial Results (Provisional) for the 3rd quarter ended on 31 December 2016 (Q3) for the financial year ended on 31 March 2017.

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No additional levy on use of cards at petrol stations says Petroleum Minister
Jan 09,2017

MoS (I/C) for Petroleum and Natural Gas, Shri Dharmendra Pradhan said neither the customers nor petrol pump dealers will bear additional charges on digital transactions at petrol stations. He said that the Government had issued guidelines in February 2016 stating that the Merchant Discount Rate (MDR) charge will not be passed on to the consumers and that the stakeholders will take appropriate steps to absorb the MDR charges.

The Government has stepped in after the issue on levy on digital transaction at petrol stations was raised by association of petrol pump dealers. Shri Pradhan said that there will be no additional levy on digital transaction at petrol stations even after 13 January, 2017. He also said that the Petrol pump transaction fee is a business model between the banks & oil marketing companies which they will resolve.

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Stanrose Mafatlal Investment & Finance to announce Q3 and 9M results
Jan 09,2017

Stanrose Mafatlal Investment & Finance announced that the next Meeting of the Board of Directors of the Company will be held on 18 January 2017, inter alia, to consider the Unaudited Financial Results for the Third Quarter and nine months ended 31 December 2016.

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Board of Unisys Software and Holding Industries to consider Q3 results
Jan 09,2017

Unisys Software and Holding Industries announced that the meeting of Board of Directors of the Company will be held on 14 February 2017, to consider Un-Audited Financial Results (Provisional) for the 3rd quarter ended on 31 December 2016 (Q3) for the financial year ended on 31 March 2017.

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Board of Sankhya Infotech approves change in company secretary
Jan 09,2017

Sankhya Infotech announced that Neha Panmani, Company Secretary of the Company has resigned from the services of the Company w.e.f. 09 January 2017 to pursue future career objectives. The Board of Directors at its meeting held on 09 January 2017 relived her w.e.f. 09 January 2017, the Company places its appreciation for services rendered by Neha Panmani during her association with the Company. Consequent to her resignation as Company Secretary Neha Panmani also ceases to be the Compliance officer of the Company.

Further the Board of Directors at its meeting held on 09 January 2017 appointed Kishwar Fatima as Company Secretary and Compliance Officer of the Company with effect from January 09, 2017 pursuant to the section 203 of Companies Act, 2013 and Regulation 6(1) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

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Board of Tuni Textile Mills to consider Q3 results
Jan 09,2017

Tuni Textile Mills announced that the meeting of Board of Directors of the Company will be held on 01 February 2017, to consider Un-Audited Financial Results (Provisional) for the 3rd quarter ended on 31 December 2016 (Q3) for the financial year ended on 31 March 2017.

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Outcome of board meeting of Kitex Garments
Jan 09,2017

Kitex Garments announced that the Board of Directors at its meeting held on 09 January 2017, has transacted the following:

1. Approved availing an additional Term Loan of Rs. 17 crore under A-TUFS with a tenure of 5 years

2. Approved further investment upto $ 1,000,000 in the Capital of Kitex USA LLC during the 4th Quarter of 2016-17.

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Board of Sudarshan Chemical Industries to consider Q3 and 9M results
Jan 09,2017

Sudarshan Chemical Industries announced that a meeting of the Board of Directors of the Company will be held on 10 February 2017, to approve the Unaudited Financial Results of the Company for the quarter and nine months ended 31 December 2016,

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Ferro Alloys Corporation to announce December quarter results
Jan 09,2017

Ferro Alloys Corporation announced that the meeting of the Board of Directors of the Company will be held on 09 February 2017, inter alia, to approve the Un-audited Financial Results of the Company for the quarter ended 31 December 2016.

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