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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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Tata Power Companys Strategic Engineering Division secures order worth over Rs 200 cr
Dec 05,2016

Tata Power Companys Strategic Engineering Division has received an order from Ministry of Defence, Government of India, for supply of one regiment of Command Post and Launcher of Pinaka Multi Rocket Launcher System to Indian Army. The order worth over Rs 200 crore includes supply of 20 launchers and 8 command posts.

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Wipro grants stock options
Dec 05,2016

Wipro has granted 44,38,000 (forty four lakhs and thirty eight thousand) Restricted Stock Units (RSUs) including ADS RSUs under Companys Restricted Stock Unit Plan 2007 and ADS Restricted Stock Unit Plan 2004 to its identified employees. This grant is effective from 01 December 2016.These shall vest as per the vesting schedule approved by the Board Governance, Nomination and Compensation Committee of the Board and can be exercised over the exercise period as approved by the Committee.

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Goa Carbon temporarily shuts down Bilaspur unit
Dec 05,2016

Goa Carbon announced that the operations at the Companys Bilaspur Plant located at 34-40, Sector B, Sirgitti Industrial Area, Bilaspur (Chattisgarh) has been temporarily shut down from Saturday, 03 December 2016.

There would not be any financial impact due to the temporary shutdown of the Companys Bilaspur Unit as there is sufficient inventory to service the orders in hand.

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Oracle Financial Services Software provides business update
Dec 05,2016

Oracle Financial Services Software announced that due to significant devaluation of Egyptian Pound post the recent liberalization of the exchange rates by the Egypt Government, the Company is estimating a charge of Rs 60 crore on its receivables from customers in Egypt during the current quarter.

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Board of Bhartiya International appoints director
Dec 05,2016

Bhartiya International announced that the Board of Directors have, vide circular resolution dated 05 December 2016, appointed Sanjay Baweja as an Additional Director (Non-executive, Independent) with effect from 05 December 2016, to hold office upto the date of the ensuing Annual General Meeting of the Company.

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BGR Energy Systems standalone net profit rises 35.44% in the September 2016 quarter
Dec 05,2016

Net profit of BGR Energy Systems rose 35.44% to Rs 10.70 crore in the quarter ended September 2016 as against Rs 7.90 crore during the previous quarter ended September 2015. Sales declined 0.40% to Rs 824.66 crore in the quarter ended September 2016 as against Rs 827.98 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales824.66827.98 0 OPM %9.139.16 - PBDT23.0417.57 31 PBT16.3511.85 38 NP10.707.90 35

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Supreme Infrastructure India reports standalone net loss of Rs 43.39 crore in the September 2016 quarter
Dec 05,2016

Net loss of Supreme Infrastructure India reported to Rs 43.39 crore in the quarter ended September 2016 as against net profit of Rs 1.11 crore during the previous quarter ended September 2015. Sales declined 41.84% to Rs 194.05 crore in the quarter ended September 2016 as against Rs 333.65 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales194.05333.65 -42 OPM %5.4518.05 - PBDT-37.129.63 PL PBT-43.391.86 PL NP-43.391.11 PL

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Future Enterprises reports standalone net loss of Rs 33.85 crore in the September 2016 quarter
Dec 05,2016

Net loss of Future Enterprises reported to Rs 33.85 crore in the quarter ended September 2016 as against net profit of Rs 32.48 crore during the previous quarter ended September 2015. Sales declined 69.33% to Rs 935.25 crore in the quarter ended September 2016 as against Rs 3048.94 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales935.253048.94 -69 OPM %25.269.00 - PBDT123.26174.11 -29 PBT-33.2738.27 PL NP-33.8532.48 PL

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India Glycols standalone net profit rises 571.91% in the September 2016 quarter
Dec 05,2016

Net profit of India Glycols rose 571.91% to Rs 11.96 crore in the quarter ended September 2016 as against Rs 1.78 crore during the previous quarter ended September 2015. Sales rose 34.01% to Rs 713.52 crore in the quarter ended September 2016 as against Rs 532.42 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales713.52532.42 34 OPM %7.4511.85 - PBDT22.8034.62 -34 PBT9.0816.33 -44 NP11.961.78 572

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D S Kulkarni Developers standalone net profit declines 97.46% in the September 2016 quarter
Dec 05,2016

Net profit of D S Kulkarni Developers declined 97.46% to Rs 0.31 crore in the quarter ended September 2016 as against Rs 12.22 crore during the previous quarter ended September 2015. Sales declined 2.66% to Rs 52.30 crore in the quarter ended September 2016 as against Rs 53.73 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales52.3053.73 -3 OPM %8.1632.37 - PBDT2.7716.82 -84 PBT1.3416.15 -92 NP0.3112.22 -97

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GE Power India reports standalone net loss of Rs 97.10 crore in the September 2016 quarter
Dec 05,2016

Net Loss of GE Power India reported to Rs 97.10 crore in the quarter ended September 2016 as against net loss of Rs 48.02 crore during the previous quarter ended September 2015. Sales declined 9.78% to Rs 477.65 crore in the quarter ended September 2016 as against Rs 529.43 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales477.65529.43 -10 OPM %-24.19-20.21 - PBDT-119.17-52.52 -127 PBT-133.09-73.07 -82 NP-97.10-48.02 -102

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Rattanindia Power reports standalone net loss of Rs 50.73 crore in the September 2016 quarter
Dec 05,2016

Net Loss of Rattanindia Power reported to Rs 50.73 crore in the quarter ended September 2016 as against net loss of Rs 82.82 crore during the previous quarter ended September 2015. Sales declined 57.42% to Rs 261.14 crore in the quarter ended September 2016 as against Rs 613.35 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales261.14613.35 -57 OPM %75.3535.58 - PBDT1.61-9.29 LP PBT-50.73-82.82 39 NP-50.73-82.82 39

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Gokak Textiles reports standalone net loss of Rs 10.72 crore in the September 2016 quarter
Dec 05,2016

Net Loss of Gokak Textiles reported to Rs 10.72 crore in the quarter ended September 2016 as against net loss of Rs 8.41 crore during the previous quarter ended September 2015. Sales declined 85.43% to Rs 10.98 crore in the quarter ended September 2016 as against Rs 75.35 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales10.9875.35 -85 OPM %-50.46-3.89 - PBDT-9.01-7.15 -26 PBT-10.92-8.97 -22 NP-10.72-8.41 -27

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Kolte Patil Developers standalone net profit rises 97.42% in the September 2016 quarter
Dec 05,2016

Net profit of Kolte Patil Developers rose 97.42% to Rs 9.20 crore in the quarter ended September 2016 as against Rs 4.66 crore during the previous quarter ended September 2015. Sales rose 57.33% to Rs 63.78 crore in the quarter ended September 2016 as against Rs 40.54 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales63.7840.54 57 OPM %8.1820.89 - PBDT11.018.10 36 PBT9.757.02 39 NP9.204.66 97

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Parsvnath Developers reports standalone net loss of Rs 6.22 crore in the September 2016 quarter
Dec 05,2016

Net Loss of Parsvnath Developers reported to Rs 6.22 crore in the quarter ended September 2016 as against net loss of Rs 12.27 crore during the previous quarter ended September 2015. Sales declined 0.12% to Rs 48.16 crore in the quarter ended September 2016 as against Rs 48.22 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales48.1648.22 0 OPM %10.49-4.89 - PBDT-6.13-16.94 64 PBT-8.25-19.40 57 NP-6.22-12.27 49

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