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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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Gagan Gases to hold board meeting
May 24,2017

Gagan Gases will hold a meeting of the Board of Directors of the Company on 30 May 2017.

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ACI Infocom to hold board meeting
May 24,2017

ACI Infocom will hold a meeting of the Board of Directors of the Company on 26 May 2017.

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Autolite (India) to hold board meeting
May 24,2017

Autolite (India) will hold a meeting of the Board of Directors of the Company on 30 May 2017.

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Overseas Synthetics to hold board meeting
May 24,2017

Overseas Synthetics will hold a meeting of the Board of Directors of the Company on 29 May 2017.

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Novartis India drops after weak Q4 earnings
May 24,2017

The result was announced after market hours yesterday, 23 May 2017.

Meanwhile, the S&P BSE Sensex was up 99.38 points, 0.33% at 30,464.63. The S&P BSE Small-Cap index was up 54.25 points, 0.37% at 14,824.11.

On the BSE, 15,000 shares were traded on the counter so far as against the average daily volumes of 13,133 shares in the past one quarter. The stock had hit a high of Rs 649 and a low of Rs 630.20 so far during the day.

The stock had hit a 52-week high of Rs 855 on 25 May 2016 and hit a 52-week low of Rs 629.95 on 16 November 2016. The stock had underperformed the market over the past one month till 23 May 2017, declining 8.67% compared with the Sensexs 3.41% rise. The scrip had also underperformed the market over the past one quarter sliding 2.43% as against the Sensexs 5.1% rise.

The small-cap company has equity capital of Rs 15.98 crore. Face value per share is Rs 5.

Novartis Indias board recommended a dividend of Rs 10 per equity share for the year ended March 2017.

Novartis India has core businesses in pharmaceuticals, vaccines, consumer health, generics, and eye care. Novartis AG holds 73.4% stake in Novartis India (as per the shareholding pattern as on 31 March 2017).

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Twinstar Industries Ltd. to hold board meeting
May 24,2017

Twinstar Industries Ltd. will hold a meeting of the Board of Directors of the Company on 30 May 2017, to consider and approve the Audited Financial Results for the Quarter and Financial Year ended 31St March, 2017.

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Intellect Design climbs up after winning client
May 24,2017

The announcement was made during market hours today, 24 May 2017.

Meanwhile, the S&P BSE Sensex was up 137.91 points or 0.45% at 30,503.16. The S&P BSE Small-Cap index was up 71.68 points or 0.49% at 14,841.54.

On the BSE, 56,993 shares were traded on the counter so far as against the average daily volumes of 1.6 lakh shares in the past one quarter. The stock had hit a high of Rs 121.50 and a low of Rs 115.80 so far during the day.

The stock had hit a 52-week high of Rs 233 on 28 July 2016 and a 52-week low of Rs 107.75 on 15 February 2017.

The stock had underperformed the market over the past one month till 23 May 2017, falling 6.18% compared with Sensexs 3.41% gains. The scrip had also underperformed the market in past one quarter, advancing 1.84% as against Sensexs 5.1% rise.

The small-cap company has equity capital of Rs 50.90 crore. Face value per share is Rs 5.

Intellect Design Arena said that it has signed a ten year deal with one of Australias Big Four, banking firm to implement its integrated trade finance, treasury and retail remittance solution for the banks corporate and retail customers in one of its offshore regions.

The bank has also entrusted Intellect with solutions maintainence and technical support-beginning a ten year relationship between the two firms.

Intellect Design Arena reported net loss of Rs 24.93 crore in Q4 March 2017, compared with net loss of Rs 21.59 crore in Q3 December 2016. Net sales rose 8.88% to Rs 135.99 crore in Q4 March 2017 over Q3 December 2016.

Intellect Design Arena is a digital technology product solutions provider to the banking and insurance industry.

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Magnum Ventures to hold board meeting
May 24,2017

Magnum Ventures will hold a meeting of the Board of Directors of the Company on 29 May 2017, for the Consideration and Approval of Audited Financial Results for the Quarter and year ended on 31st March, 2017.

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Vishal Bearings to hold board meeting
May 24,2017

Vishal Bearings will hold a meeting of the Board of Directors of the Company on 30 May 2017, to consider and approve Audited Financial Result for the half year ended on March 31, 2017, to consider and approve Audited Financial Result for the year ended on March 31, 2017, and to transact any other business with the permission of the Board.

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Parag Milk Foods to hold board meeting
May 24,2017

Parag Milk Foods will hold a meeting of the Board of Directors of the Company on 29 May 2017, to approve the audited standalone and consolidated financial Results of the Company for the Quarter and year ended March 31, 2017 along with the Audit Reports of the Statutory Auditors thereon, and to consider and recommend Final Dividend, if any.

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Vapi Enterprise to hold board meeting
May 24,2017

Vapi Enterprise will hold a meeting of the Board of Directors of the Company on 30 May 2017, to consider inter-alia approval of financial results of the Company for the quarter and year ended 31st March 2017.

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Padmalaya Telefilms to hold board meeting
May 24,2017

Padmalaya Telefilms will hold a meeting of the Board of Directors of the Company on 30 May 2017, to Consider, approve and authenticate the quarterly & year to date financial results of the Company for the fourth quarter and Year ended on March 31, 2017, and to Consider and approve the proposal for voluntary delisting of the Company from the National Stock Exchange of India Limited, Mumbai.

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Satya Miners & Transporters to hold board meeting
May 24,2017

Satya Miners & Transporters will hold a meeting of the Board of Directors of the Company on 29 May 2017, to adopt and approve the Audited Financial Results of the company for quarter and year ended 31st March 2017, and to consider and approve the Auditors Report on the Audited Financial Results for the year ended 31st March,2017.

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Bombay Rayon Fashions to hold board meeting
May 24,2017

Bombay Rayon Fashions will hold a meeting of the Board of Directors of the Company on 30 May 2017, to consider, approve and take on record, among other items of the agenda, the Audited Financial Results for the year ended March 31, 2017.

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Nuway Organic Naturals India to hold board meeting
May 24,2017

Nuway Organic Naturals India will hold a meeting of the Board of Directors of the Company on 30 May 2017, to consider, inter alia, Audited Financial Results of the Company for the Quarter and the Financial Year ended on 31st March, 2017.

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