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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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Ratnamani Metals & Tubes to announce September quarter results
Nov 15,2016

Ratnamani Metals & Tubes announced that the Meeting of the Board of Directors of the Company will be scheduled to be held on 30 November 2016, inter alia, to consider Unaudited Financial Results (Standalone) and Statement of Assets & Liabilities for the period ended on 30 September 2016.

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Integra Telecommunication & Software announces change in registered office
Nov 15,2016

Integra Telecommunication & Software announced that the Companys registered office has been shifted from 2283, Sector-D, Pocket-2, Vasant Kunj, New Delhi-110070 to 108/9, Kishan Garh Village, Vasant Vihar, New Delhi-110070.

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Lesha Industries appoints director
Nov 15,2016

Lesha Industries announced that Payal Makani has been appointed as additional, Independent Non-Executive, Director of the Company with effect from 14 November 2016.

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Sandur Manganese & Iron Ores fixes record date for interim dividend
Nov 15,2016

Sandur Manganese & Iron Ores announced that the Company has fixed 26 November 2016 as the Record Date for the purpose of Payment of Interim Dividend.

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Board of Welspun India approves capital investment of Rs 600 cr
Nov 15,2016

Welspun India announced that the Board of the Company at its Board Meeting held on 15 November 2016, had approved the capital investment of Rs. 600 crore in flooring solutions i.e., manufacturing of world class carpets, rugs etc. This investment will benefit from synergies arising from the Companys existing product line and customer base. The capex will be done over 18 months spread over FY18 & FY19.

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Outcome of board meeting of Uttam Value Steels
Nov 15,2016

Uttam Value Steels announced that the following decisions have been taken at the Meeting of the Board of Directors held on 14 November 2016:-

- the Board have noted the SDR invoked by the Lender in their Meeting of Joint Lender Forum.

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Sun Pharma provides update on its CSR initiative
Nov 15,2016

Sun Pharma announced the signing of tri-party agreement between Indian Council of Medical Research, Govt of Madhya Pradesh and Foundation for Disease Elimination and Control of India (FDECINDIA)to launch the Malaria Free India demonstration project in Mandla district of Madhya Pradesh.

The Foundation for Disease Elimination and Control of India (FDEC-INDIA) has been established by Sun Pharma for disease elimination and control initiatives as part of its CSR programme.

According to the Agreement signed, NIRTH, Govt of MP and FDEC-India will jointly accomplish the goals of malaria elimination from Mandla district and prevent re-introduction by use of vector control (Indoor residual spray and/or use of insecticide treated long-lasting bednets (LLINs) and case management (rapid on-the-spot diagnosis and prompt treatment) as per national and/or WHO norms of malaria elimination efforts. FDEC-India will be responsible for implementation of the Project in an independent manner in collaboration with NIRTH/ICMR, Govt of MP and all appropriate stakeholders. It will execute the malaria elimination project over a span of 3 to 5 years covering 1,233 villages in Mandla district. The Malaria Free India demonstration project in Mandla is expected to be launched by January 2017.

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TTI Enterprise appoints director
Nov 15,2016

TTI Enterprise announced that the Board of Directors at their meeting held on 14 November 2016, appointed Paraj Mehta as an Additional Director of the Company w.e.f. 14 November 2016.

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Outcome of board meeting of Sumuka Agro Industries
Nov 15,2016

The Board of Sumuka Agro Industries approved the following -

Resignation of Suman Choudhary from the post of Company Secretary and Compliance Officer with effect from 03 November 2016.

Appointment of Shweta Singh as Company Secretary with effect from 15 November 2016.

Approved shifting of corporate office of the Company to F-122, Raj Arcade, Mahavir Nagar, Kandivali (West), Mumbai - 400 067.

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Suzlon Energy jumps after turnaround Q2 show
Nov 15,2016

The result was announced after market hours on Friday, 11 November 2016.

Meanwhile, the BSE Sensex was down 431.48 points, or 1.61%, to 26,387.34.

On BSE, so far 1.57 crore shares were traded in the counter, compared with average daily volume of 40.24 lakh shares in the past one quarter. The stock hit a high of Rs 16.15 and a low of Rs 15.04 so far during the day. The stock hit a 52-week high of Rs 23.25 on 5 January 2016. The stock hit a 52-week low of Rs 12.47 on 9 November 2016. The stock had outperformed the market over the past 30 days till 11 November 2016, falling 1.09% compared with the 2.98% decline in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 12.02% as against Sensexs 4.74% decline.

The mid-cap company has equity capital of Rs 1004.88 crore. Face value per share is Rs 2.

On a consolidated basis, Suzlon Energy reported net profit of Rs 237.62 crore in Q2 September 2016 as against net loss of Rs 201.66 crore in Q2 September 2015. Net sales rose 57.30% to Rs 2746.18 crore in Q2 September 2016 over Q2 September 2015.

Consolidated net term debt (excluding foreign currency convertible bonds) was reported at Rs 6646 crore in Q2 September 2016, further reducing by Rs 230 crore over Q1 June 2016. The company said its order book stood at 1,136 megawatts (MW). The order book is valued at Rs 7165 crore.

In a separate announcement during trading hours today, 15 November 2016, the company said that credit ratings agency, CARE, has upgraded the investment grade credit rating of SE Forge, its wholly-owned subsidiary, to BBB from the earlier BBB-. The rating has been assigned to SE Forges outstanding banks facilities as well as for the proposed working capital enhancements.

Suzlon Energy is one of the leading renewable energy solutions providers in the world with an international presence across 19 countries in Asia, Australia, Europe, Africa and North and South America.

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Nitin Fire Protection Industries consolidated net profit declines 11.12% in the September 2016 quarter
Nov 15,2016

Net profit of Nitin Fire Protection Industries declined 11.12% to Rs 34.93 crore in the quarter ended September 2016 as against Rs 39.30 crore during the previous quarter ended September 2015. Sales rose 42.01% to Rs 632.87 crore in the quarter ended September 2016 as against Rs 445.65 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales632.87445.65 42 OPM %9.8812.14 - PBDT45.6146.38 -2 PBT36.2141.62 -13 NP34.9339.30 -11

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Ramsons Projects reports standalone nil net profit/loss in the September 2016 quarter
Nov 15,2016

Ramsons Projects reported no net profit/loss in the quarter ended September 2016 as against net loss of Rs 0.03 crore during the previous quarter ended September 2015. Sales rose 300.00% to Rs 0.08 crore in the quarter ended September 2016 as against Rs 0.02 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales0.080.02 300 OPM %0-150.00 - PBDT0-0.03 100 PBT0-0.03 100 NP0-0.03 100

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Godavari Drugs standalone net profit rises 42.86% in the September 2016 quarter
Nov 15,2016

Net profit of Godavari Drugs rose 42.86% to Rs 0.40 crore in the quarter ended September 2016 as against Rs 0.28 crore during the previous quarter ended September 2015. Sales rose 19.08% to Rs 20.60 crore in the quarter ended September 2016 as against Rs 17.30 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales20.6017.30 19 OPM %5.785.84 - PBDT0.760.58 31 PBT0.600.43 40 NP0.400.28 43

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Ishita Drugs & Industries standalone net profit rises 200.00% in the September 2016 quarter
Nov 15,2016

Net profit of Ishita Drugs & Industries rose 200.00% to Rs 0.03 crore in the quarter ended September 2016 as against Rs 0.01 crore during the previous quarter ended September 2015. Sales declined 25.60% to Rs 0.93 crore in the quarter ended September 2016 as against Rs 1.25 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales0.931.25 -26 OPM %6.453.20 - PBDT0.080.05 60 PBT0.040.01 300 NP0.030.01 200

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Sanwaria Agro Oils standalone net profit rises 6.46% in the September 2016 quarter
Nov 15,2016

Net profit of Sanwaria Agro Oils rose 6.46% to Rs 6.59 crore in the quarter ended September 2016 as against Rs 6.19 crore during the previous quarter ended September 2015. Sales rose 10.52% to Rs 669.94 crore in the quarter ended September 2016 as against Rs 606.17 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales669.94606.17 11 OPM %4.073.93 - PBDT9.819.48 3 PBT7.837.46 5 NP6.596.19 6

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