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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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Board of Rajshree Sugars & Chemicals recommends final dividend
Jun 05,2017

Rajshree Sugars & Chemicals announced that the Board of Directors of the Company at its meeting held on 29 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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Board of Shashijit Infraprojects recommends final dividend
Jun 05,2017

Shashijit Infraprojects announced that the Board of Directors of the Company at its meeting held on 29 May 2017, inter alia, have recommended the final dividend of Rs 1.25 per equity Share (i.e. 1.25%) , subject to the approval of the shareholders.

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Board of Parag Milk Foods recommends final dividend
Jun 05,2017

Parag Milk Foods announced that the Board of Directors of the Company at its meeting held on 29 May 2017, inter alia, have recommended the final dividend of Rs 0.5 per equity Share (i.e. 5%) , subject to the approval of the shareholders.

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Board of Tamil Nadu Newsprint & Papers recommends final dividend
Jun 05,2017

Tamil Nadu Newsprint & Papers announced that the Board of Directors of the Company at its meeting held on 29 May 2017, inter alia, have recommended the final dividend of Rs 7.5 per equity Share (i.e. 75%) , subject to the approval of the shareholders.

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Board of Ucal Fuel Systems recommends final dividend
Jun 05,2017

Ucal Fuel Systems announced that the Board of Directors of the Company at its meeting held on 30 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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Rupee gains
Jun 05,2017

Rupee closed higher at 64.54/55 per dollar on Monday (05 June 2017), versus its previous close of 64.6350/6400 per dollar last Friday.

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Peninsula Land announces appointment of director
Jun 05,2017

Peninsula Land has appointed Sajit Suvarna as an Additional Director in the category of an Independent Director of the Company.

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Board of Vijay Shanthi Builders approves resignation of company secretary and director
Jun 05,2017

The Board of Directors of Vijay Shanthi Builders at its meeting held on 02 June 2017 has approved the resignation of Company Secretary / Compliance Officer, R. K. Swathi Lakshmi Rao. The board also accepted the resignation of Director, Revathi Ramakrishna.

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Network provides update on scheme of reduction of share capital
Jun 05,2017

Network plans to issue Equity Shares of Rs. 2/- each in lieu of the Equity Shares of Rs. 10/- each, in terms of scheme of Reduction of Share Capital duly approved by the National Company Law Tribunal, New Delhi. The Board will consider the proposal on 14 June 2017.

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Board of Pentokey Organy (India) decides to delist shares from Ahmedabad Stock Exchange
Jun 05,2017

Pentokey Organy (India) announced that the Board of Directors of the Company at its meeting held on 05 June 2017, decided to delist Equity Shares of the Company from Ahmedabad Stock Exchange (ASE), in view of non-trading of Equity Shares of the Company on ASE since last many years. The Company will continue listing of Equity Shares of the Company with BSE.

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Mahaveer Infoway reports consolidated net loss of Rs 0.48 crore in the March 2017 quarter
Jun 05,2017

Net loss of Mahaveer Infoway reported to Rs 0.48 crore in the quarter ended March 2017 as against net profit of Rs 0.03 crore during the previous quarter ended March 2016. Sales declined 25.40% to Rs 3.26 crore in the quarter ended March 2017 as against Rs 4.37 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 0.37 crore in the year ended March 2017 as against net profit of Rs 0.26 crore during the previous year ended March 2016. Sales declined 53.18% to Rs 14.52 crore in the year ended March 2017 as against Rs 31.01 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales3.264.37 -25 14.5231.01 -53 OPM %-6.445.03 -2.413.10 - PBDT-0.450.04 PL -0.250.36 PL PBT-0.460.03 PL -0.320.28 PL NP-0.480.03 PL -0.370.26 PL

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DIL reports consolidated net loss of Rs 3.55 crore in the March 2017 quarter
Jun 05,2017

Net Loss of DIL reported to Rs 3.55 crore in the quarter ended March 2017 as against net loss of Rs 2.96 crore during the previous quarter ended March 2016. Sales rose 6.58% to Rs 42.93 crore in the quarter ended March 2017 as against Rs 40.28 crore during the previous quarter ended March 2016.

For the full year,net profit reported to Rs 10.10 crore in the year ended March 2017 as against net loss of Rs 1.13 crore during the previous year ended March 2016. Sales rose 7.93% to Rs 160.33 crore in the year ended March 2017 as against Rs 148.55 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales42.9340.28 7 160.33148.55 8 OPM %10.3711.42 -7.7713.60 - PBDT2.341.98 18 2.5715.31 -83 PBT-0.43-0.70 39 -7.856.96 PL NP-3.55-2.96 -20 10.10-1.13 LP

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Virat Leasing reports standalone net loss of Rs 1.10 crore in the March 2017 quarter
Jun 05,2017

Net Loss of Virat Leasing reported to Rs 1.10 crore in the quarter ended March 2017 as against net loss of Rs 0.42 crore during the previous quarter ended March 2016. Sales rose 1140.00% to Rs 3.10 crore in the quarter ended March 2017 as against Rs 0.25 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 0.07 crore in the year ended March 2017. There were no net profit/loss reported during the previous year ended March 2016. Sales rose 2568.94% to Rs 35.23 crore in the year ended March 2017 as against Rs 1.32 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales3.100.25 1140 35.231.32 2569 OPM %-35.16-164.00 --0.140.76 - PBDT-1.10-0.41 -168 -0.070.01 PL PBT-1.10-0.41 -168 -0.070.01 PL NP-1.10-0.42 -162 -0.070 0

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Euro Ceramics standalone net profit rises 975.11% in the March 2017 quarter
Jun 05,2017

Net profit of Euro Ceramics rose 975.11% to Rs 71.28 crore in the quarter ended March 2017 as against Rs 6.63 crore during the previous quarter ended March 2016. Sales declined 67.66% to Rs 3.89 crore in the quarter ended March 2017 as against Rs 12.03 crore during the previous quarter ended March 2016.

For the full year,net profit reported to Rs 52.18 crore in the year ended March 2017 as against net loss of Rs 12.27 crore during the previous year ended March 2016. Sales declined 57.51% to Rs 10.69 crore in the year ended March 2017 as against Rs 25.16 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales3.8912.03 -68 10.6925.16 -58 OPM %-20.05-44.72 --116.84-44.36 - PBDT26.09-3.59 LP 21.82-7.41 LP PBT21.23-8.61 LP 2.13-27.51 LP NP71.286.63 975 52.18-12.27 LP

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Jyothi Infraventures reports standalone nil net profit/loss in the March 2017 quarter
Jun 05,2017

Jyothi Infraventures reported no net profit/loss in the quarter ended March 2017 as against net loss of Rs 0.01 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 0.03 crore in the year ended March 2017 as against net loss of Rs 0.03 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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