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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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Choksi Laboratories appoints director
May 29,2017

Choksi Laboratories announced that the Board of Directors of the Company at its meeting held on 29 May 2017 has appointed Himika Choksi as Whole Time Director of the Company.

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CSCs To Function As GST Suvidha Providers
May 29,2017

A workshop on n++CSCs as GST Suvidha Providern++ to train the top performing VLEs and the State level representatives of CSC SPV for enabling implementation of GST scheme especially in rural India through CSC was organized here today. Common Services Centers are proposed to act as a GST Suvidha Provider. CSCs have been identified to facilitate the roll out of GST especially in rural India. CSCs will help merchants registration, filing returns and support them in fulfilling various requirements under GST. They will mobilize, conduct training and create advocacy of GST implementation across the country.

The Union Minister for Electronics & IT and Law Justice, Shri Ravi Shankar Prasad inaugurated the event, appreciated the efforts of the enterprising VLEs in providing key services to the grassroots. He Said the Village Level Entrepreneurs are Rapid Action Force for Digital India and hoped they will truly be the harbingers of digital revolution in India and enable us to create digitally and financially inclusive society. India does not want to miss the digital revolution and, in fact, aims to become the leader of the revolution and CSCs will lead us in this endeavor.

He said VLEs are important component of Governments strategy to provide all services at village level and the day is not far off when even private entrepreneurs would approach CSCs for reaching the unreached customers. Talking about employment potential of the initiative he said at present 2,50,000 CSCs are employing nearly 10 lac persons. The number is likely to touch 25 lac mark in the near future as more services from both private and public sectors are put in their basket.

The Hon Minister said, n++GST means one nation, one tax. He said that GST Suvidha Provider service that is being rolled out today is a big opportunity for VLEs.n++ He hoped that the VLEs would rise to the occasion and help the government in reaching out to the merchants.

He said, n++CSC is a big army in this country. In Prime Minister housing scheme, Government has received 4.5 lakh applications for housing through CSC. I have suggested to Smt. Sushma Swaraj, Honble Minister of External Affairs that CSCs should do the work of verification of e-Sanad certificates. Apart from this, CSCs will help to provide legal services to the poor.n++ He added, n++I always say that companies should use the vast network of CSCs. In the Digital era, the role of CSCs is tremendous. Today, 2 crore people have downloaded BHIM App. CSCs should make it popular in their community. In the digital economy, the demand of CSCs services will become tremendous. Every VLEs should train one woman from tribal and backward communities.n++

Honble Minister also inaugurated the Bharat Bill Payment Operating Unit service through CSCs. Bharat Bill Payment Operating Unit is an authorized operational unit working as per the standards set by BBPS. BBPOUs will onboard billers, aggregators and payment gateways to handle bill payments through different delivery channels.

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Volumes jump at Siti Networks counter
May 29,2017

Siti Networks clocked volume of 1.04 crore shares by 13:50 IST on BSE, a 541.3-times surge over two-week average daily volume of 19,000 shares. The stock rose 1.11% to Rs 31.80.

Thyrocare Technologies notched up volume of 1.52 lakh shares, a 61.82-fold surge over two-week average daily volume of 2,000 shares. The stock rose 0.52% at Rs 711.

Mahindra & Mahindra Financial Services saw volume of 31.22 lakh shares, a 39.05-fold surge over two-week average daily volume of 80,000 shares. The stock was up 5.31% at Rs 329.40.

PC Jeweller clocked volume of 7.47 lakh shares, a 17.98-fold surge over two-week average daily volume of 42,000 shares. The stock jumped 15.84% at Rs 521.50.

Modi Naturals saw volume of 4.55 lakh shares, a 12.46-fold rise over two-week average daily volume of 37,000 shares. The stock jumped 10% at Rs 154.05.

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DGT announces Introduction of Diploma Courses
May 29,2017

The Directorate General of Training (DGT), Ministry of Skill Development and Entrepreneurship (MSDE) has announced the launch of five high end diploma courses in the skill ecosystem for the academic year 2017. The five courses in Welding Technology, Industrial Electronics and Automation, Manufacturing Technology, Automotive Technology and IT, Networking and Cloud Computing were cleared today at the Sub-Committee meeting of NCVT .The need for advance level courses/ specialized courses has been long felt in the vocational training landscape in the country.

The courses are of two years duration and will be introduced from August/September 2017 at Advanced Training Institutes (ATIs). These courses would enable trainees to acquire cutting edge training by providing an opportunity to sharpen their n++hands-on skillsn++ in specialized areas such as computerized pneumatic control (CNC) machining, automotive technology, welding, mechatronics, industrial electronics and automation. This would also extend the skill pyramid beyond current vocational training set up. Over and above this, one fourth of the training period is dedicated for on-the-job training in the form of an industrial attachment.

Commenting on the development, Minister of State (I/C) for Skill Development and Entrepreneurship Shri Rajiv Pratap Rudy has said, n++Inclusion of five high end diploma courses in the skill ecosystem is our reaction to the great demand created by the industry, which says we do not have the workforce of what is required. Industries are demanding skilled workforce in specialized areas. With this development, Advanced Training Institutes will narrow the gap between demand and supply in the industry. These steps will take us close to our vision of making India the skill capital of the world.n++

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Board of Shilpi Cable Technologies appoints CFO
May 29,2017

The Board of Directors of Shilpi Cable Technologies has appointed Shailendra Kumar, as Chief Financial Officer and KMP of the Company with effect from 29 May 2017.

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Gravity grips IT stocks
May 29,2017

Tech Mahindra (down 11.94%), Larsen & Toubro Infotech (down 2.56%), L&T Technology Services (down 1.32%), Infosys (down 1.81%), TCS (down 0.44%), Wipro (down 1.35%), Persistent Systems (down 0.64%) and Hexaware Technologies (down 1.77%) edged lower.

HCL Technologies (up 0.14%), MindTree (up 0.06%), Oracle Financial Services Software (up 1.25%) and MphasiS (up 0.34%) edged higher.

The S&P BSE IT index was down 168.34 points, or 1.62% at 10,230.73. It underperformed the S&P BSE Sensex, which was up 47.19 points, or 0.15% at 31,075.40.

The S&P BSE IT index had outperformed the market over the past one month till 26 May 2017, rising 7.37% compared with 2.97% rise in the Sensex. The index, however, underperformed the market in past one quarter, gaining 0.2% as against Sensexs 7.39% gains.

IT stocks declined as investors sentiment for the sector dampened after Tech Mahindra reported weak Q4 earnings.

Tech Mahindras consolidated net profit dropped 31.2% to Rs 588 crore on 0.8% fall in revenue to Rs 7495 crore in Q4 March 2017 over Q3 December 2016. The result was announced after market hours on Friday, 26 May 2017.

Managing Director and CEO of the company CP Gurnani, said that the IT industry is going through a paradigm shift amid changing demand pattern from the clients, technological changes and requirement for significant skill enhancement. The company has responded to these changes proactively by reimagining the business, imbibing a culture of innovation, encouraging reskilling and retraining workforce wherever necessary, he added.

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Lupin allots 30060 equity shares
May 29,2017

Lupin has allotted 30060 fully paid up equity shares of Rs. 2/- each. These shares have been allotted upon exercising of options granted to the employees under Stock option plans of the Company.

In view of the above, the issued and paid up capital of the Company has been increased to Rs. 90,34,02,244 consisting 45,17,01,122 equity shares of Rs. 2/- each.

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Board of City Union Bank approves bonus issue of 1:1
May 29,2017

City Union Bank announced that the Board of Directors of the Bank at its meeting held on 29 May 2017 has approved issue of bonus shares in the ratio 1:1, subject to approval of members of the bank. The Board also declared a dividend of Re 0.30 per equity share, subject to requisite approvals.

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Advanced Enzyme Technologies consolidated net profit declines 15.38% in the March 2017 quarter
May 29,2017

Net profit of Advanced Enzyme Technologies declined 15.38% to Rs 19.80 crore in the quarter ended March 2017 as against Rs 23.40 crore during the previous quarter ended March 2016. Sales rose 6.91% to Rs 86.02 crore in the quarter ended March 2017 as against Rs 80.46 crore during the previous quarter ended March 2016.

For the full year,net profit rose 19.51% to Rs 90.65 crore in the year ended March 2017 as against Rs 75.85 crore during the previous year ended March 2016. Sales rose 12.80% to Rs 331.36 crore in the year ended March 2017 as against Rs 293.76 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales86.0280.46 7 331.36293.76 13 OPM %37.9949.11 -45.4746.83 - PBDT32.0738.37 -16 148.79131.00 14 PBT28.8736.10 -20 136.58122.28 12 NP19.8023.40 -15 90.6575.85 20

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Allied Digital Services reports consolidated net loss of Rs 4.80 crore in the March 2017 quarter
May 29,2017

Net Loss of Allied Digital Services reported to Rs 4.80 crore in the quarter ended March 2017 as against net loss of Rs 3.94 crore during the previous quarter ended March 2016. Sales declined 6.14% to Rs 51.50 crore in the quarter ended March 2017 as against Rs 54.87 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 0.35 crore in the year ended March 2017 as against net profit of Rs 4.17 crore during the previous year ended March 2016. Sales declined 9.18% to Rs 215.30 crore in the year ended March 2017 as against Rs 237.06 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales51.5054.87 -6 215.30237.06 -9 OPM %14.6613.67 -18.9117.37 - PBDT3.85-4.02 LP 26.8727.77 -3 PBT-1.76-9.31 81 5.456.02 -9 NP-4.80-3.94 -22 -0.354.17 PL

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Restile Ceramics reports standalone net loss of Rs 1.39 crore in the March 2017 quarter
May 29,2017

Net Loss of Restile Ceramics reported to Rs 1.39 crore in the quarter ended March 2017 as against net loss of Rs 2.42 crore during the previous quarter ended March 2016. Sales declined 85.71% to Rs 0.08 crore in the quarter ended March 2017 as against Rs 0.56 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 7.49 crore in the year ended March 2017 as against net loss of Rs 10.07 crore during the previous year ended March 2016. Sales declined 92.86% to Rs 0.22 crore in the year ended March 2017 as against Rs 3.08 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales0.080.56 -86 0.223.08 -93 OPM %-287.50-55.36 --454.55-55.19 - PBDT0.97-0.36 LP 0.20-1.75 LP PBT-0.76-2.32 67 -6.70-9.60 30 NP-1.39-2.42 43 -7.49-10.07 26

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C J Gelatine Products reports standalone net loss of Rs 0.33 crore in the March 2017 quarter
May 29,2017

Net loss of C J Gelatine Products reported to Rs 0.33 crore in the quarter ended March 2017 as against net profit of Rs 0.14 crore during the previous quarter ended March 2016. Sales declined 19.03% to Rs 4.00 crore in the quarter ended March 2017 as against Rs 4.94 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 2.01 crore in the year ended March 2017 as against net profit of Rs 0.13 crore during the previous year ended March 2016. Sales declined 26.65% to Rs 16.54 crore in the year ended March 2017 as against Rs 22.55 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales4.004.94 -19 16.5422.55 -27 OPM %15.2512.55 --0.677.54 - PBDT0.010.20 -95 -1.710.49 PL PBT-0.330.14 PL -2.050.19 PL NP-0.330.14 PL -2.010.13 PL

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Premier Explosives standalone net profit rises 143.82% in the March 2017 quarter
May 29,2017

Net profit of Premier Explosives rose 143.82% to Rs 8.29 crore in the quarter ended March 2017 as against Rs 3.40 crore during the previous quarter ended March 2016. Sales rose 23.06% to Rs 71.93 crore in the quarter ended March 2017 as against Rs 58.45 crore during the previous quarter ended March 2016.

For the full year,net profit rose 159.68% to Rs 14.75 crore in the year ended March 2017 as against Rs 5.68 crore during the previous year ended March 2016. Sales rose 24.41% to Rs 229.28 crore in the year ended March 2017 as against Rs 184.30 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales71.9358.45 23 229.28184.30 24 OPM %19.3111.87 -12.389.54 - PBDT12.666.06 109 24.6914.32 72 PBT11.755.23 125 21.2311.00 93 NP8.293.40 144 14.755.68 160

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Bharat Wire Ropes standalone net profit rises 14.58% in the March 2017 quarter
May 29,2017

Net profit of Bharat Wire Ropes rose 14.58% to Rs 0.55 crore in the quarter ended March 2017 as against Rs 0.48 crore during the previous quarter ended March 2016. Sales rose 61.62% to Rs 20.30 crore in the quarter ended March 2017 as against Rs 12.56 crore during the previous quarter ended March 2016.

For the full year,net profit rose 22.39% to Rs 1.64 crore in the year ended March 2017 as against Rs 1.34 crore during the previous year ended March 2016. Sales rose 6.80% to Rs 64.83 crore in the year ended March 2017 as against Rs 60.70 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales20.3012.56 62 64.8360.70 7 OPM %6.9517.68 -9.5613.54 - PBDT3.431.36 152 6.914.50 54 PBT1.210.79 53 3.022.21 37 NP0.550.48 15 1.641.34 22

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Sheshadri Industries reports standalone net loss of Rs 3.91 crore in the March 2017 quarter
May 29,2017

Net Loss of Sheshadri Industries reported to Rs 3.91 crore in the quarter ended March 2017 as against net loss of Rs 0.82 crore during the previous quarter ended March 2016. Sales declined 57.81% to Rs 9.96 crore in the quarter ended March 2017 as against Rs 23.61 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 16.55 crore in the year ended March 2017 as against net loss of Rs 2.84 crore during the previous year ended March 2016. Sales declined 45.27% to Rs 57.93 crore in the year ended March 2017 as against Rs 105.85 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales9.9623.61 -58 57.93105.85 -45 OPM %-28.92-4.40 --19.68-0.85 - PBDT-3.37-0.32 -953 -14.34-1.48 -869 PBT-3.91-0.58 -574 -16.55-2.60 -537 NP-3.91-0.82 -377 -16.55-2.84 -483

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