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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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Hinduja Ventures standalone net profit rises 2.33% in the March 2017 quarter
May 13,2017

Net profit of Hinduja Ventures rose 2.33% to Rs 14.51 crore in the quarter ended March 2017 as against Rs 14.18 crore during the previous quarter ended March 2016. Sales declined 68.68% to Rs 29.36 crore in the quarter ended March 2017 as against Rs 93.75 crore during the previous quarter ended March 2016.

For the full year,net profit rose 2.31% to Rs 102.91 crore in the year ended March 2017 as against Rs 100.59 crore during the previous year ended March 2016. Sales declined 39.32% to Rs 201.74 crore in the year ended March 2017 as against Rs 332.47 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales29.3693.75 -69 201.74332.47 -39 OPM %87.5034.86 -86.1649.27 - PBDT16.4522.98 -28 129.54125.43 3 PBT16.1622.67 -29 128.35124.11 3 NP14.5114.18 2 102.91100.59 2

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Titan Company standalone net profit rises 7.40% in the March 2017 quarter
May 13,2017

Net profit of Titan Company rose 7.40% to Rs 200.71 crore in the quarter ended March 2017 as against Rs 186.88 crore during the previous quarter ended March 2016. Sales rose 43.41% to Rs 3429.70 crore in the quarter ended March 2017 as against Rs 2391.49 crore during the previous quarter ended March 2016.

For the full year,net profit rose 9.22% to Rs 761.86 crore in the year ended March 2017 as against Rs 697.57 crore during the previous year ended March 2016. Sales rose 13.81% to Rs 12614.54 crore in the year ended March 2017 as against Rs 11084.05 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales3429.702391.49 43 12614.5411084.05 14 OPM %7.938.73 -9.488.52 - PBDT291.13224.21 30 1223.02975.52 25 PBT268.71201.29 33 1129.79888.40 27 NP200.71186.88 7 761.86697.57 9

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Integra Engineering India standalone net profit rises 911.11% in the March 2017 quarter
May 13,2017

Net profit of Integra Engineering India rose 911.11% to Rs 0.91 crore in the quarter ended March 2017 as against Rs 0.09 crore during the previous quarter ended March 2016. Sales rose 32.44% to Rs 9.84 crore in the quarter ended March 2017 as against Rs 7.43 crore during the previous quarter ended March 2016.

For the full year,net profit rose 60.77% to Rs 2.09 crore in the year ended March 2017 as against Rs 1.30 crore during the previous year ended March 2016. Sales rose 22.10% to Rs 30.77 crore in the year ended March 2017 as against Rs 25.20 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales9.847.43 32 30.7725.20 22 OPM %4.572.56 -0.681.39 - PBDT1.690.76 122 3.742.69 39 PBT1.480.58 155 2.931.93 52 NP0.910.09 911 2.091.30 61

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Oriental Hotels standalone net profit rises 6750.00% in the March 2017 quarter
May 13,2017

Net profit of Oriental Hotels rose 6750.00% to Rs 6.85 crore in the quarter ended March 2017 as against Rs 0.10 crore during the previous quarter ended March 2016. Sales rose 4.83% to Rs 92.89 crore in the quarter ended March 2017 as against Rs 88.61 crore during the previous quarter ended March 2016.

For the full year,net profit reported to Rs 1.54 crore in the year ended March 2017 as against net loss of Rs 17.85 crore during the previous year ended March 2016. Sales rose 7.76% to Rs 333.49 crore in the year ended March 2017 as against Rs 309.48 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales92.8988.61 5 333.49309.48 8 OPM %20.9716.44 -14.289.39 - PBDT16.389.56 71 26.554.28 520 PBT9.543.53 170 1.57-19.66 LP NP6.850.10 6750 1.54-17.85 LP

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Piramal Enterprises standalone net profit declines 96.11% in the March 2017 quarter
May 13,2017

Net profit of Piramal Enterprises declined 96.11% to Rs 11.39 crore in the quarter ended March 2017 as against Rs 292.88 crore during the previous quarter ended March 2016. Sales declined 11.59% to Rs 923.94 crore in the quarter ended March 2017 as against Rs 1045.01 crore during the previous quarter ended March 2016.

For the full year,net profit declined 21.99% to Rs 776.78 crore in the year ended March 2017 as against Rs 995.70 crore during the previous year ended March 2016. Sales rose 11.28% to Rs 3766.21 crore in the year ended March 2017 as against Rs 3384.35 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales923.941045.01 -12 3766.213384.35 11 OPM %21.8045.70 -48.7438.65 - PBDT47.69242.81 -80 1014.42993.01 2 PBT23.05219.67 -90 919.93913.46 1 NP11.39292.88 -96 776.78995.70 -22

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Modella Woollens reports standalone net loss of Rs 0.07 crore in the March 2017 quarter
May 13,2017

Net Loss of Modella Woollens reported to Rs 0.07 crore in the quarter ended March 2017 as against net loss of Rs 0.09 crore during the previous quarter ended March 2016. There were no Sales reported in the quarter ended March 2017 and during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 0.39 crore in the year ended March 2017 as against net loss of Rs 0.48 crore during the previous year ended March 2016. There were no Sales reported in the year ended March 2017 and during the previous year ended March 2016.

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International Combustion (India) standalone net profit rises 673.33% in the March 2017 quarter
May 13,2017

Net profit of International Combustion (India) rose 673.33% to Rs 1.16 crore in the quarter ended March 2017 as against Rs 0.15 crore during the previous quarter ended March 2016. Sales rose 50.02% to Rs 31.52 crore in the quarter ended March 2017 as against Rs 21.01 crore during the previous quarter ended March 2016.

For the full year,net profit reported to Rs 0.81 crore in the year ended March 2017 as against net loss of Rs 0.51 crore during the previous year ended March 2016. Sales rose 5.98% to Rs 96.78 crore in the year ended March 2017 as against Rs 91.32 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales31.5221.01 50 96.7891.32 6 OPM %10.22-4.28 -3.041.55 - PBDT2.84-0.09 LP 6.132.10 192 PBT1.51-1.12 LP 1.06-1.78 LP NP1.160.15 673 0.81-0.51 LP

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Rane (Madras) provides business update
May 13,2017

Rane (Madras) has received an official communication from Nexteer cancelling the LOI, due to their customer, General Motor having sold their Opel Brand to PSA in Europe.

The order was for manufacture and supply of steering gears for Passenger Vehicles from Nexteer Automotive Poland Sp.z.o.o.

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RBI initiates Prompt corrective Action for UCO Bank
May 13,2017

UCO Bank announced that the Reserve Bank of India (RBI), vide their letter dated 05 May 2017, has initiated Prompt corrective Action for UCO Bank in view of high net NPA and negative RoA. These measures aim at improving performance of the Bank and to strengthen internal controls of the Bank. These measures will not adversely impact performance of the Bank. The Board of directors at its meeting held on 12 May 2017 took note of the measures taken by the RBI.

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ADF Foods appoints director
May 13,2017

ADF Foods has appointed Naresh L. Kothari (DIN: 00012523) as an additional Director (Independent Director) on the Board of Directors of the Company at Board meeting held on 12 May 2017.

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Outcome of board meeting of Premier Explosives
May 13,2017

Premier Explosives announced that the Board of Directors of the company at its meeting held on 12 May 2017 approved funds raising through Preferential Issue of total 1,38,000 warrants and 6,13,000 equity shares to promoters & non promoters.

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Board of Astro Bio Systems appoints company secretary
May 13,2017

Astro Bio Systems announced that the Board of Directors S.N. Madhavan FCS has been appointed as Company Secretary of the Company by the Board of Directors with effect from 12 May 2017.

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Board of APM Industries recommends final dividend
May 13,2017

APM Industries 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 0.5 per equity Share (i.e. 25%) , subject to the approval of the shareholders.

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Board of Valiant Organics recommends final dividend
May 13,2017

Valiant Organics announced that the Board of Directors of the Company at its meeting held on 10 May 2017, inter alia, have recommended the final dividend of Rs 5 per equity Share (i.e. 50%) , subject to the approval of the shareholders.

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Presha Metallurgical to hold board meeting
May 13,2017

Presha Metallurgical will hold a meeting of the Board of Directors of the Company on 25 May 2017.

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