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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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Cabinet apprised of Framework Agreement between India and Vietnam on cooperation in exploration and uses of outer space for peaceful purposes
Feb 09,2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has been apprised of the Framework Agreement between India and Vietnam on cooperation in the exploration and uses of outer space for peaceful purposes. The Framework Agreement has been signed on September 03, 2016.

The Framework Agreement will enable pursuing the potential interest areas of cooperation such as space science, technology and applications including remote sensing of the earth; satellite communication and satellite-based navigation; space science and planetary exploration; use of spacecraft and space systems and ground system; and application of space technology.

Cooperation with Vietnam through this Framework Agreement would lead to development of joint activity in the field of application of space technologies for the benefit of humanity.

The Framework Agreement will provide impetus to explore newer research activities and application possibilities in the field of remote sensing of the earth; satellite communication; satellite navigation; space science and exploration of outer space.

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Cabinet apprised of Framework Agreement between India and Vietnam on cooperation in exploration and uses of outer space for peaceful purposes
Feb 09,2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has been apprised of the Framework Agreement between India and Vietnam on cooperation in the exploration and uses of outer space for peaceful purposes. The Framework Agreement has been signed on September 03, 2016.

The Framework Agreement will enable pursuing the potential interest areas of cooperation such as space science, technology and applications including remote sensing of the earth; satellite communication and satellite-based navigation; space science and planetary exploration; use of spacecraft and space systems and ground system; and application of space technology.

Cooperation with Vietnam through this Framework Agreement would lead to development of joint activity in the field of application of space technologies for the benefit of humanity.

The Framework Agreement will provide impetus to explore newer research activities and application possibilities in the field of remote sensing of the earth; satellite communication; satellite navigation; space science and exploration of outer space.

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SKF India gains as board to consider share buyback proposal
Feb 09,2017

The announcement was made after market hours yesterday, 8 February 2017.

Meanwhile, the S&P BSE Sensex was up 172.09 points or 0.61% at 28,462.01

On BSE, so far 271 shares were traded in the counter as against average daily volume of 4,532 shares in the past one quarter. The stock hit a high of Rs 1,410.05 and a low of Rs 1,388.70 so far during the day. The stock had hit a record high of Rs 1,550 on 2 November 2016. The stock had hit a 52-week low of Rs 1,040 on 12 February 2016.

The mid-cap company has equity capital of Rs 52.73 crore. Face value per share is Rs 10.

SKF Indias net profit rose 20.42% to Rs 60.26 crore on 10% growth in total income to Rs 683.30 crore in Q2 September 2016 over Q2 September 2015.

SKF India is a global supplier of bearings, seals, mechatronics, lubrication systems and services which include technical support, maintenance and reliability services, engineering consulting and training.

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Cipla, Hero MotoCorp in focus after declaring Q3 results
Feb 09,2017

Ciplas consolidated net profit rose 44% to Rs 374.83 crore on 18.08% rise in total income to Rs 3800.70 crore in Q3 December 2016 over Q3 December 2015. The result was announced after market hours yesterday, 8 February 2017.

Hero MotoCorps net profit fell 2.55% to Rs 772.05 crore on 10.98% drop in total income to Rs 7030.57 crore in Q3 December 2016 over Q3 December 2015. The result was announced after market hours yesterday, 8 February 2017.

Union Bank of Indias net profit rose 32.41% to Rs 104 crore on 8.94% rise in total income to Rs 9589.45 crore in Q3 December 2016 over Q3 December 2015. The result was announced after market hours yesterday, 8 February 2017.

Among corporate news, BPCL, Lupin and Power Grid Corporation of India will declare their Q3 results today, 9 February 2017.

Thermaxs consolidated net profit fell 30.3% to Rs 54.77 crore on 11.83% drop in total income to Rs 998 crore in Q3 December 2016 over Q3 December 2015. The result was announced after market hours yesterday, 8 February 2017.

Indraprastha Gass net profit rose 36.81% to Rs 144.81 crore on 2.29% rise in total income to Rs 961.98 crore in Q3 December 2016 over Q3 December 2015. The result was announced after market hours yesterday, 8 February 2017.

Reliance Powers consolidated net profit rose 14.37% to Rs 275.70 crore on 16.73% rise in total income to Rs 2984.56 crore in Q3 December 2016 over Q3 December 2015. The result was announced after market hours yesterday, 8 February 2017.

SKF India scheduled a board meeting on 13 February 2017, to consider a proposal for buyback of equity shares. The announcement was made after market hours yesterday, 8 February 2017.

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Board of Venus Remedies allots convertible warrants to promoters
Feb 08,2017

Venus Remedies announced that the Board of Directors of the Company at its meeting held on 08 February 2017, has allotted 9,00,000 warrants fully convertible into equity shares to promoters on preferential basis.

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Vikas EcoTech gets ratings assigned for bank facilities
Feb 08,2017

Vikas EcoTech announced that CRISIL has rated the bank facilities of the Company and has assigned CRISIL BBB for Companys long term borrowings and CRISIL A3+ for the short term borrowings with stable outlook.

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United Breweries (Holdings) ordered to be wound up
Feb 08,2017

United Breweries (Holdings) announced that the Honble High Court of Karnataka, Dharwad Bench by its Judgement and Order on 07 February 2017, pronounced through Video Conferencing from Dharwad at 2.40.p.m., has ordered the Company to be wound up and has appointed the Official Liquidator as the Liquidator of the Company.

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Uniworth announces change in company secretary and compliance officer
Feb 08,2017

Uniworth announced that Parinita Goenka has been appointed as Company Secretary and Neha Dugar has resigned as Company Secretary of the Company w.e.f. 08 February 2017 duly approved at the Board Meeting held on 08 February 2017.

Further the Company inform that she has also been appointed as Compliance Officer of the Company w.e.f. 08 February 2017.

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Allahabad Bank gets ratings assigned for proposed AT-I Bonds issue
Feb 08,2017

Allahabad Bank announced that Brickwork Ratings India have assigned BWR A : Outlook Stable rating to Banks proposed Basel-III compliant Additional Tier 1 Bonds aggregating to Rs. 1000.00 crore.

Further, Brickwork have also revised their outlook from Negative to Stable for Banks Outstanding Tier 2 Bonds.

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Quintegra Solutions reports standalone net profit of Rs 4.43 crore in the December 2016 quarter
Feb 08,2017

Net profit of Quintegra Solutions reported to Rs 4.43 crore in the quarter ended December 2016 as against net loss of Rs 0.13 crore during the previous quarter ended December 2015. There were no Sales reported in the quarter ended December 2016 and during the previous quarter ended December 2015.

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REIL Electricals India standalone net profit rises 5.00% in the December 2016 quarter
Feb 08,2017

Net profit of REIL Electricals India rose 5.00% to Rs 0.21 crore in the quarter ended December 2016 as against Rs 0.20 crore during the previous quarter ended December 2015. Sales rose 10.14% to Rs 4.02 crore in the quarter ended December 2016 as against Rs 3.65 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales4.023.65 10 OPM %9.459.59 - PBDT0.330.28 18 PBT0.260.20 30 NP0.210.20 5

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Soni Medicare standalone net profit declines 66.67% in the December 2016 quarter
Feb 08,2017

Net profit of Soni Medicare declined 66.67% to Rs 0.01 crore in the quarter ended December 2016 as against Rs 0.03 crore during the previous quarter ended December 2015. Sales rose 1.91% to Rs 3.74 crore in the quarter ended December 2016 as against Rs 3.67 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales3.743.67 2 OPM %8.291.91 - PBDT0.220.19 16 PBT0.030.04 -25 NP0.010.03 -67

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Union Bank of India standalone net profit rises 32.42% in the December 2016 quarter
Feb 08,2017

Net profit of Union Bank of India rose 32.42% to Rs 104.00 crore in the quarter ended December 2016 as against Rs 78.54 crore during the previous quarter ended December 2015. Total Operating Income rose 4.30% to Rs 8249.78 crore in the quarter ended December 2016 as against Rs 7909.37 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Total Operating Income8249.787909.37 4 OPM %60.0664.69 - PBDT181.1496.50 88 PBT181.1496.50 88 NP104.0078.54 32

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Surat Textile Mills standalone net profit rises 101.83% in the December 2016 quarter
Feb 08,2017

Net profit of Surat Textile Mills rose 101.83% to Rs 4.40 crore in the quarter ended December 2016 as against Rs 2.18 crore during the previous quarter ended December 2015. Sales rose 31.78% to Rs 41.51 crore in the quarter ended December 2016 as against Rs 31.50 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales41.5131.50 32 OPM %8.847.68 - PBDT4.532.45 85 PBT4.402.18 102 NP4.402.18 102

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Seasons Furnishings reports standalone net loss of Rs 0.42 crore in the December 2016 quarter
Feb 08,2017

Net Loss of Seasons Furnishings reported to Rs 0.42 crore in the quarter ended December 2016 as against net loss of Rs 0.01 crore during the previous quarter ended December 2015. Sales declined 45.90% to Rs 3.23 crore in the quarter ended December 2016 as against Rs 5.97 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales3.235.97 -46 OPM %-7.125.70 - PBDT-0.490.05 PL PBT-0.53-0.01 -5200 NP-0.42-0.01 -4100

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