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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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Nirvan Commercial Company intimates of change in its stake holding in Kilburn Chemicals
May 19,2017

Nirvan Commercial Company announced that it has been allotted 5 lakh equity shares by Kilburn Chemicals on conversion of warrants. Post the allotment, the shareholding of the company stands at 1154465 equity shares representing 9.74% of the expanded capital of Kilburn Chemicals.

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Maitri Enterprises to hold board meeting
May 19,2017

Maitri Enterprises will hold a meeting of the Board of Directors of the Company on 29 May 2017, to consider and approve the audited financial results of the Company for the quarter and year ended on March 31, 2017, appointment of M/s Khandelwal Devesh & Associates, Company Secretaries as a Secretarial Auditor of the Company for the F.Y. 2017-18, and appointment of M/s A R Prajapati & Co., Chartered Accountants as a Internal Auditor of the Company for the F.Y 2017-18.

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Nava Bharat Ventures to hold board meeting
May 19,2017

Nava Bharat Ventures will hold a meeting of the Board of Directors of the Company on 27 May 2017, to consider the following agenda: a) the audited Balance Sheet (Standalone and Consolidated) as at 31.03.2017 and Statement of Profit and Loss (Standalone and Consolidated) for the year 2016-17; b) the Audited financial results (Standalone & Consolidated) for the quarter and year ended 31-03-2017.

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Inter Globe Finance to hold board meeting
May 19,2017

Inter Globe Finance will hold a meeting of the Board of Directors of the Company on 29 May 2017, to consider and approve Audited Financial Results of the Company for the quarter and financial year ended March 31, 2017.

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Golechha Global Finance to hold board meeting
May 19,2017

Golechha Global Finance will hold a meeting of the Board of Directors of the Company on 29 May 2017, to Consider and approve the Audited Financial results of the Company for the year and quarter and Year ended March 31, 2017.

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Spectra Industries to hold board meeting
May 19,2017

Spectra Industries will hold a meeting of the Board of Directors of the Company on 30 May 2017, to consider and approve the Audited Financial Statements for the year ended 31 March 2017, and the Audited Financial Results for the quarter and year ended 31 March 2017.

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Trans Financial Resources to hold board meeting
May 19,2017

Trans Financial Resources will hold a meeting of the Board of Directors of the Company on 29 May 2017, to consider and approve the audited financial results for the quarter and year ended 31st March 2017.

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NCC Blue Water Products to hold board meeting
May 19,2017

NCC Blue Water Products will hold a meeting of the Board of Directors of the Company on 30 May 2017, for considering and approving among others the Audited Financial results/Audited Financial Statements for 4th Quarter and Financial year ended 31st March, 2017.

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Pazel International to hold board meeting
May 19,2017

Pazel International will hold a meeting of the Board of Directors of the Company on 26 May 2017, to consider and take on record the Standalone Audited Financial Results of the Company for the Quarter and Financial Year ended 31st March, 2017.

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ISL Consulting to hold board meeting
May 19,2017

ISL Consulting will hold a meeting of the Board of Directors of the Company on 26 May 2017, to consider and approve the Standalone Audited financial Results of the company for the quarter and year ended March 31,2017.

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Cityman to hold board meeting
May 19,2017

Cityman will hold a meeting of the Board of Directors of the Company on 30 May 2017, to consider and approve among other things, the audited financial results of the company for the year ended 31 March 2017.

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Sandesh to hold board meeting
May 19,2017

Sandesh will hold a meeting of the Board of Directors of the Company on 27 May 2017, to consider, approve and take on record the standalone and consolidated Audited Financial Results of the Company for the year ended March 31, 2017.

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PVP Ventures to hold board meeting
May 19,2017

PVP Ventures will hold a meeting of the Board of Directors of the Company on 30 May 2017, to consider and approve the Audited financial results of the company for the quarter and year ended March 31, 2017.

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Bajaj Finance allots NCDs aggregating Rs 250 crore
May 19,2017

Bajaj Finance has allotted 2500 secured redeemable NCDs of face value of Rs 10 lakh each aggregating Rs 250 crore on private placement basis on 19 May 2017.

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FPIs extend buying
May 19,2017

Foreign portfolio investors (FPIs) bought stocks worth a net Rs 141 crore from the secondary equity markets on 18 May 2017, lower than net inflow of Rs 1160.63 crore on 17 May 2017.

The net inflow of Rs 141 crore on 18 May 2017 was a result of gross purchases of Rs 5751.17 crore and gross sales of Rs 5610.17 crore.

There was a net inflow of Rs 218.72 crore into the category primary market & others on 18 May 2017, which was a result of gross purchases of Rs 218.72 crore and nil gross sales.

FPIs have purchased stocks worth a net Rs 3061.20 crore into the secondary equity markets in May 2017 so far (till 18 May 2017). They sold stocks worth a net Rs 1645.32 crore in April 2017.

FPIs have purchased shares worth a net Rs 37903.35 crore from the secondary equity markets in calendar year 2017 so far (till 18 May 2017). They had purchased shares worth a net Rs 12094.42 crore from the secondary equity markets in calendar year 2016.

FPIs have purchased stocks worth a net Rs 1096.27 crore from the category primary market & others in May 2017 so far (till 18 May 2017). They had bought stocks worth a net Rs 4039.81 crore from the category primary market & others in April 2017.

FPIs have purchased shares worth a net Rs 8280.19 crore from the category primary markets & others in calendar year 2017 so far (till 18 May 2017). The net inflow from FPIs into the category primary markets & others had totaled Rs 8471.76 crore in calendar year 2016.

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