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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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Bombay Dyeing & Manufacturing Company reports standalone net loss of Rs 32.71 crore in the June 2017 quarter
Aug 10,2017

Net Loss of Bombay Dyeing & Manufacturing Company reported to Rs 32.71 crore in the quarter ended June 2017 as against net loss of Rs 43.58 crore during the previous quarter ended June 2016. Sales rose 30.95% to Rs 592.43 crore in the quarter ended June 2017 as against Rs 452.40 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales592.43452.40 31 OPM %11.3113.65 - PBDT-19.22-17.11 -12 PBT-26.71-24.76 -8 NP-32.71-43.58 25

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Tata Teleservices (Maharashtra) records 75.18 lakh subscribers
Aug 10,2017

Tata Teleservices (Maharashtra) announced that total subscribers as on 31 July 2017 stood at 75,18,322 nos. These included 8.66 lakh wireline subscribers, 1.01 lakh FWT subscribers and 65.60 lakh mobile subscribers.

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PPAP Automotive gets revision in credit ratings for bank facilities
Aug 10,2017

PPAP Automotive announced that CRISIL has upgraded the credit rating of the Company on the long-term bank facilities to CRISIL A+/Stable from CRISIL A/Positive and reaffirmed the short-term bank facilities at CRISIL A1.

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FPIs turn sellers
Aug 10,2017

Foreign portfolio investors (FPIs) sold stocks worth a net Rs 813.15 crore from the secondary equity markets yesterday, 9 August 2017, compared with net inflow of Rs 1619.59 crore on 8 August 2017. On 9 August 2017, the Sensex dropped 216.35 points or 0.68% to settle at 31,797.84, its lowest closing level since 18 July 2017.

The net outflow of Rs 813.15 crore on 9 August 2017 was a result of gross purchases of Rs 3249.22 crore and gross sales of Rs 4062.37 crore.

There was a net inflow of Rs 384.41 crore into the category primary market & others on 9 August 2017, which was a result of gross purchases of Rs 395.09 crore and gross sales of Rs 10.68 crore.

FPIs have sold stocks worth a net Rs 1729.61 crore into the secondary equity markets in August 2017 (till 9 August 2017). They have bought stocks worth a net Rs 4199.62 crore from the secondary equity markets in July 2017.

FPIs have purchased shares worth a net Rs 41014 crore from the secondary equity markets in calendar year 2017 so far (till 9 August 2017). They had purchased shares worth a net Rs 12094.42 crore from the secondary equity markets in calendar year 2016.

FPIs have bought stocks worth a net Rs 649.63 crore into the category primary market & others in August 2017 (till 9 August 2017). They have bought stocks worth a net Rs 972.54 crore from the category primary market & others in July 2017.

FPIs have purchased shares worth a net Rs 16421.03 crore from the category primary markets & others in calendar year 2017 so far (till 9 August 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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UCO Bank allots 30.71 crore to GOI
Aug 10,2017

UCO Bank has allotted 30,71,58,119 equity shares of Rs 10 each to Government of India at an issue price of Rs 37.44 per share on preferential basis.

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Board of Great Eastern Shipping Company approves termination of GDR programme
Aug 10,2017

The Board of Directors of Great Eastern Shipping Company at its meeting held on 10 August 2017 has approved the termination of Global Depositary Receipts (GDR) programme and its subsequent delisting from Euro MTF Market of the Luxembourg Stock Exchange.

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MTEF projections provide a focus to the spending Departments and also give a general direction to the Fiscal Management
Aug 10,2017

The Medium-term Expenditure Framework Statement (MTEF) was laid in Parliament in national capital today. The MTEF Statement sets forth a three-year rolling target for the expenditure indicators with specification of underlying assumptions and risks involved. The MTEF is essentially a vertical expansion of the aggregates of the expenditure projections in the fiscal framework presented along with the Annual Financial Statement and Demands for Grants.

The objective of the MTEF is to provide closer integration between Budget and the FRBM Statements. It provides medium term perspective to the fiscal management and furthers the Governments commitment towards fiscal consolidation. In FY 2016-17, an additional Statement giving demand wise revenue-capital breakup of expenditure over medium-term was annexed to the MTEF. To give a focus to the expenditure pattern and projections of the Government a scheme-wise projection in respect of some selected schemes which include all Centrally Sponsored Schemes and some Central Sector Schemes is also annexed with this years MTEF statement. It is expected that these projections will provide a focus to the spending departments and also give a general direction to the fiscal management of the entire country.

Section 3 of the Fiscal Responsibility and Budget Management (FRBM) Act, 2003 requires the Government to place three Statements of Fiscal Policy viz., the Medium-term Fiscal Policy Statement, the Fiscal Policy Strategy Statement and the Macroeconomic Framework Statement in both the Houses of Parliament along with Annual Financial Statement and Demands for Grants. This Section was amended to require the Government to lay a Fourth Statement viz., the Medium Term Expenditure Framework (MTEF) Statement in both the Houses of Parliament, immediately following the Session of the Parliament in which the Budget has been presented.

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PM Telelinnks schedules AGM
Aug 10,2017

PM Telelinnks announced that the Annual General Meeting (AGM) of the company will be held on 29 September 2017.

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Gajra Bevel Gears to conduct AGM
Aug 10,2017

Gajra Bevel Gears announced that the Annual General Meeting (AGM) of the company will be held on 28 September 2017.

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Gujchem Distillers India to convene AGM
Aug 10,2017

Gujchem Distillers India announced that the Annual General Meeting (AGM) of the company will be held on 1 September 2017.

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Shentracon Chemicals to declare Quarterly Result
Aug 10,2017

Shentracon Chemicals will hold a meeting of the Board of Directors of the Company on 14 August 2017, to consider and approve the Audited Financial Results for the 1st quarter ended 30th June, 2017, & to fix the Book Closure of the Company and to fix the date for conducting the Annual General Meeting of the Members of the Company for the Year ended 31-03-2017

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Royale Manor Hotels & Industries to conduct board meeting
Aug 10,2017

Royale Manor Hotels & Industries will hold a meeting of the Board of Directors of the Company on 14 August 2017.

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Bridge Securities to conduct board meeting
Aug 10,2017

Bridge Securities will hold a meeting of the Board of Directors of the Company on 14 August 2017, to consider and approve, the Unaudited Financial Results of the Company for the Quarter ended 30th June, 2017

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Insilco to conduct board meeting
Aug 10,2017

Insilco will hold a meeting of the Board of Directors of the Company on 5 September 2017, to consider and approve the Un-audited Financial Results of the Company for the quarter ended 30th June 2017.

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Ahluwalia Contracts (India) to table results
Aug 10,2017

Ahluwalia Contracts (India) will hold a meeting of the Board of Directors of the Company on 22 August 2017, to consider, approve, inter-alia and take on record, the un-Audited Financial Results (Standalone) with limited review by the Statutory Auditor of the Company for the quarter ended 30th, June 2017

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