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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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Australia Stocks eke out marginal gains
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Australian equity market closed marginally higher after fluctuating in and out of the boundary line on Tuesday, 16 May 2017, as strength in resource stocks lifted by recovering commodity and metal prices were more than offset by weakness in bank stocks after National Australia Bank traded ex-dividend. The S&P/ASX 200 index perked up 0.2%, or 12.098 points, to 5,850.5 at the close of trade. For the day, 2.13 billion shares were traded with a value of A$6.77 billion.

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China Stocks up for 4th day in row
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The Mainland China equity market recouped early losses to finish higher on Tuesday, 16 May 2017, as risk sentiments got boosted by central bank efforts to boost liquidity in the financial system. Most sectors gained ground, led by consumer and material stocks, while banks shares were notable losers. The blue-chip CSI300 index rose 0.9%, to 3,428.65 points, while the Shanghai Composite Index gained 0.7% to 3,112.96 points.

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FPIs continues buying
May 16,2017

Foreign portfolio investors (FPIs) bought stocks worth a net Rs 383.90 crore from the secondary equity markets on 15 May 2017, lower than net inflow of Rs 914.38 on 12 May 2017.

The net inflow of Rs 383.90 crore on 15 May 2017 was a result of gross purchases of Rs 4729.96 crore and gross sales of Rs 4346.06 crore.

There was a net inflow of Rs 0.83 crore into the category primary market & others on 15 May 2017, which was a result of gross purchases of Rs 0.83 crore and nil gross sales.

FPIs have purchased stocks worth a net Rs 942.26 crore into the secondary equity markets in May 2017 so far (till 15 May 2017). They sold stocks worth a net Rs 1645.32 crore in April 2017.

FPIs have purchased shares worth a net Rs 35784.41 crore from the secondary equity markets in calendar year 2017 so far (till 15 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 648.32 crore from the category primary market & others in May 2017 so far (till 15 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 7832.24 crore from the category primary markets & others in calendar year 2017 so far (till 15 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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Josts Engineering Company announced that the Board of Directors of the Company at its meeting held on 15 May 2017, inter alia, have recommended the final dividend of Rs 1 per equity Share (i.e. 10%) , subject to the approval of the shareholders.

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Future Lifestyle Fashions announced that the Board of Directors of the Company at its meeting held on 15 May 2017, inter alia, have recommended the final dividend of Rs 0.8 per equity Share (i.e. 40%) , subject to the approval of the shareholders.

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May 16,2017

JK Cements announced that the Board of Directors of the Company at its meeting held on 13 May 2017, inter alia, have recommended the final dividend of Rs 8 per equity Share (i.e. 80%) , subject to the approval of the shareholders.

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Board of Bata India recommends final dividend
May 16,2017

Bata India announced that the Board of Directors of the Company at its meeting held on 15 May 2017, inter alia, have recommended the final dividend of Rs 3.5 per equity Share (i.e. 70%) , subject to the approval of the shareholders.

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Mangal Credit & Fincorp announced that the Board of Directors of the Company at its meeting held on 12 May 2017, inter alia, have recommended the final dividend of Rs 0.25 per equity Share (i.e. 2.5%) , subject to the approval of the shareholders.

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Gabriel India announced that the Board of Directors of the Company at its meeting held on 15 May 2017, inter alia, have recommended the final dividend of Rs 0.85 per equity Share (i.e. 85%) , subject to the approval of the shareholders.

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