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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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NK Industries to hold AGM
May 10,2017

NK Industries announced that the Annual General Meeting (AGM) of the company will be held on 22 July 2017.

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Response Informatics to hold board meeting
May 10,2017

Response Informatics will hold a meeting of the Board of Directors of the Company on 30 May 2017, to consider audited financial results of the company for the quarter ending, 31st March,2017 and financial year ending 31st March,2017.

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Indag Rubber to hold AGM
May 10,2017

Indag Rubber announced that the Annual General Meeting (AGM) of the company will be held on 19 June 2017.

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Board of Pokarna recommends final dividend
May 10,2017

Pokarna announced that the Board of Directors of the Company at its meeting held on 8 May 2017, inter alia, have recommended the final dividend of Rs 3 per equity Share (i.e. 30%) , subject to the approval of the shareholders.

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Board of Benares Hotels recommends final dividend
May 10,2017

Benares Hotels announced that the Board of Directors of the Company at its meeting held on 8 May 2017, inter alia, have recommended the final dividend of Rs 15 per equity Share (i.e. 150%) , subject to the approval of the shareholders.

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Tata Consultancy Services partners with South Africas Mercantile Bank
May 10,2017

Tata Consultancy Services announced that Mercantile Bank, South Africa, has successfully transformed its banking operations with TCS BaNCS Digital. With this modernisation of technology, the Bank has significantly elevated customer touch points of browser, mobile and tablets into seamless digital immersive experience.

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Nelco declines after weak Q4 results
May 10,2017

The result was announced after market hours yesterday, 9 May 2017.

Meanwhile, the S&P BSE Sensex was up 242.13 points, or 0.81% at 30,175.38. The S&P BSE Small-cap index was up 108.89 points, 0.7% at 15,653.52.

On the BSE, 47,000 shares were traded on the counter so far as against the average daily volumes of 34,490 shares in the past one quarter. The stock had hit a high of Rs 88.80 and a low of Rs 85.70 so far during the day.

The stock had hit a 52-week high of Rs 109.70 on 8 June 2016 and a 52-week low of Rs 68.40 on 22 November 2016. The stock had outperformed the market over the past one month till 9 May 2017, advancing 8.61% compared with the Sensexs 0.76% rise. The scrip had also outperformed the market over the past one quarter advancing 8.81% as against the Sensexs 5.66% rise.

The small-cap company has equity capital of Rs 22.82 crore. Face value per share is Rs 10.

Nelco offers solutions in the areas of integrated security & surveillance, VSAT connectivity (Tatanet VSAT), managed services, satcom projects and meteorological solutions. The company offers a range of innovative and customized solutions for businesses and government institutions under one roof.

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Fitch: Global Growth Recovery on Track
May 10,2017

The pick-up in global growth remains on track, with disappointing first-quarter US GDP data offset by better-than-expected numbers in China, and sustained growth in the eurozone and Japan, says Fitch Ratings in its Global Economic Update report.

Weaker 1Q US growth was explained by consumption and looks to have been affected by temporary factors. Falling unemployment, wealth gains, improved consumer confidence and the prospect of income tax cuts should support a recovery in consumption from 2Q17. In China, the impact of earlier policy stimulus on activity has proved more powerful than anticipated and the slowdown in the housing market has taken longer to materialise than expected, said Brian Coulton, Fitchs Chief Economist.

The resilience and breadth of the eurozone recovery continues, with the region posting its eighth consecutive quarter of steady growth at an annual pace of 1.5%-2%.

Rising bank credit to the private sector and strengthening housing markets suggest accommodative monetary policies are gaining traction in the eurozone, while a mild easing of fiscal policy since 2015 and strong job growth have also helped, added Coulton.

Fitch expects world growth to rise to 2.9% in 2017 from 2.5% in 2016 and has slightly revised up its 2018 forecast to 3.1% from 3.0% in March. The US growth forecast for 2017 has been revised down slightly but this has been offset by a better outlook for China and Japan.

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Larsen & Toubro Infotech consolidated net profit rises 11.52% in the March 2017 quarter
May 10,2017

Net profit of Larsen & Toubro Infotech rose 11.52% to Rs 254.50 crore in the quarter ended March 2017 as against Rs 228.20 crore during the previous quarter ended March 2016. Sales rose 7.66% to Rs 1677.20 crore in the quarter ended March 2017 as against Rs 1557.90 crore during the previous quarter ended March 2016.

For the full year,net profit rose 16.07% to Rs 970.90 crore in the year ended March 2017 as against Rs 836.50 crore during the previous year ended March 2016. Sales rose 11.19% to Rs 6500.90 crore in the year ended March 2017 as against Rs 5846.40 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales1677.201557.90 8 6500.905846.40 11 OPM %19.0118.08 -18.9217.53 - PBDT369.10334.30 10 1413.701208.70 17 PBT327.50291.10 13 1235.801034.70 19 NP254.50228.20 12 970.90836.50 16

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Elgi Equipments consolidated net profit declines 0.19% in the March 2017 quarter
May 10,2017

Net profit of Elgi Equipments declined 0.19% to Rs 20.84 crore in the quarter ended March 2017 as against Rs 20.88 crore during the previous quarter ended March 2016. Sales declined 7.64% to Rs 372.49 crore in the quarter ended March 2017 as against Rs 403.30 crore during the previous quarter ended March 2016.

For the full year,net profit rose 45.30% to Rs 74.00 crore in the year ended March 2017 as against Rs 50.93 crore during the previous year ended March 2016. Sales declined 2.19% to Rs 1370.11 crore in the year ended March 2017 as against Rs 1400.82 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales372.49403.30 -8 1370.111400.82 -2 OPM %10.739.93 -10.308.93 - PBDT42.4841.16 3 143.52122.01 18 PBT29.6928.66 4 98.8878.43 26 NP20.8420.88 0 74.0050.93 45

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Thyrocare Technologies consolidated net profit rises 35.94% in the March 2017 quarter
May 10,2017

Net profit of Thyrocare Technologies rose 35.94% to Rs 18.95 crore in the quarter ended March 2017 as against Rs 13.94 crore during the previous quarter ended March 2016. Sales rose 34.75% to Rs 87.67 crore in the quarter ended March 2017 as against Rs 65.06 crore during the previous quarter ended March 2016.

For the full year,net profit rose 37.01% to Rs 70.97 crore in the year ended March 2017 as against Rs 51.80 crore during the previous year ended March 2016. Sales rose 27.32% to Rs 306.81 crore in the year ended March 2017 as against Rs 240.97 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales87.6765.06 35 306.81240.97 27 OPM %37.8437.78 -38.5838.80 - PBDT33.7826.85 26 127.46100.04 27 PBT28.8521.83 32 109.4281.80 34 NP18.9513.94 36 70.9751.80 37

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Geefcee Finance reports standalone net profit of Rs 0.05 crore in the March 2017 quarter
May 10,2017

Net profit of Geefcee Finance reported to Rs 0.05 crore in the quarter ended March 2017. There were no net profit/loss reported during the previous quarter ended March 2016. Sales rose 33.33% to Rs 2.00 crore in the quarter ended March 2017 as against Rs 1.50 crore during the previous quarter ended March 2016.

For the full year,no net profit/loss reported in the year ended March 2017 and during the previous year ended March 2016. Sales rose 13.14% to Rs 8.01 crore in the year ended March 2017 as against Rs 7.08 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales2.001.50 33 8.017.08 13 OPM %2.500 -00 - PBDT0.050 0 00 0 PBT0.050 0 00 0 NP0.050 0 00 0

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Bharat Immunological & Biological Corporation standalone net profit rises 325.00% in the March 2017 quarter
May 10,2017

Net profit of Bharat Immunological & Biological Corporation rose 325.00% to Rs 4.08 crore in the quarter ended March 2017 as against Rs 0.96 crore during the previous quarter ended March 2016. Sales rose 3.98% to Rs 61.34 crore in the quarter ended March 2017 as against Rs 58.99 crore during the previous quarter ended March 2016.

For the full year,net profit reported to Rs 6.68 crore in the year ended March 2017 as against net loss of Rs 6.21 crore during the previous year ended March 2016. Sales declined 3.00% to Rs 124.19 crore in the year ended March 2017 as against Rs 128.03 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales61.3458.99 4 124.19128.03 -3 OPM %11.172.90 -8.99-5.69 - PBDT6.001.21 396 9.81-8.31 LP PBT5.991.43 319 9.50-8.96 LP NP4.080.96 325 6.68-6.21 LP

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Peninsula Land reports standalone net loss of Rs 114.75 crore in the March 2017 quarter
May 10,2017

Net loss of Peninsula Land reported to Rs 114.75 crore in the quarter ended March 2017 as against net profit of Rs 25.98 crore during the previous quarter ended March 2016. Sales rose 458.98% to Rs 210.68 crore in the quarter ended March 2017 as against Rs 37.69 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 143.10 crore in the year ended March 2017 as against net profit of Rs 17.40 crore during the previous year ended March 2016. Sales rose 140.69% to Rs 264.57 crore in the year ended March 2017 as against Rs 109.92 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales210.6837.69 459 264.57109.92 141 OPM %-40.65-33.93 --44.15-58.81 - PBDT-94.219.09 PL -97.68-2.42 -3936 PBT-95.237.92 PL -102.03-6.63 -1439 NP-114.7525.98 PL -143.1017.40 PL

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Elgi Equipments reports standalone net profit of Rs 19.11 crore in the March 2017 quarter
May 10,2017

Net profit of Elgi Equipments reported to Rs 19.11 crore in the quarter ended March 2017 as against net loss of Rs 38.24 crore during the previous quarter ended March 2016. Sales declined 5.04% to Rs 251.95 crore in the quarter ended March 2017 as against Rs 265.33 crore during the previous quarter ended March 2016.

For the full year,net profit rose 628.22% to Rs 68.38 crore in the year ended March 2017 as against Rs 9.39 crore during the previous year ended March 2016. Sales rose 3.01% to Rs 891.71 crore in the year ended March 2017 as against Rs 865.62 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales251.95265.33 -5 891.71865.62 3 OPM %13.7111.18 -12.5612.85 - PBDT37.1632.45 15 125.11121.22 3 PBT27.1221.91 24 88.2784.27 5 NP19.11-38.24 LP 68.389.39 628

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