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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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Australia Market climbs as miners rally
Jan 16,2017

Australian share market closed higher on Monday, 16 January 2017, boosted by materials and resources stocks, thanks to rise in iron ore and base metal prices. At the closing bell, the benchmark S&P/ASX 200 index inclined 27.30 points, or 0.48%, to 5748.40, while the broader All Ordinaries index added 26.20 points, or 0.45%, to close at 5803.

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Bhel commissions 500 MW II unit of Sagardighi Thermal Power Station Phase II project
Jan 16,2017

Bharat Heavy Electrical has commissioned another 500 MW thermal unit in the State of West Bengal. The unit was the second 500 MW set to be commissioned at Sagardighi Thermal Power Station Phase II project in Musrshidabad district in West Bengal. The project is being set up by the state owned West Bengal Power Development Corporation.

The first unit of the 1000 MW project was commissioned earlier by Bhel in December 2015.

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Board of Aayush Food And Herbs to consider resignation of directors
Jan 16,2017

Aayush Food And Herbs has received letters of resignation effective from 24 January 2017 from the Directors of the Company, namely- Ashish Mittal - Managing Director, Sunil Mittal - Director and Neena Mittal - Director due to their pre-occupations.

In this regard, the Board shall conduct a meeting on 24 January 2017 to consider and take note of the same.

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Suzlon Energy achieves 10,000 MW installed wind energy milestone
Jan 16,2017

Suzlon Energy achieved the 10,000 MW cumulative wind energy installation in India. Suzlons 10,000 MW of wind installations is capable of powering over 5 million households per annum and offset 21.5 million tonnes of carbon dioxide emission annually which is equivalent to planting over 1500 million trees.

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Kashyap Tele-Medicines intimates of cancellation of registration as Non-Banking Financial Institution
Jan 16,2017

Kashyap Tele-Medicines announced that RBI vide its letter Dated: 26 December 2016 has cancelled Certificate of Registration to carry on the business of Non-Banking Financial Institution.

In this matter, Company in its Annual General Meeting held on 25 September 1999 altered its object clause and discontinue its business in leasing and financing and same was intimated to RBI for revocation of Certificate. Presently the Company is engaged under the business segment of Information Technology and its solution, 100% of income is generated from same segment.

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Hil commences commercial production at its new Dry Mix manufacturing facility
Jan 16,2017

Hil announced that the Company on 14 January 2017 has commenced the commercial production at its newly established Dry Mix manufacturing facility at Jhajjar, Haryana with an installed capacity of 72,000 MT (i.e 44,000 MT of Wall Putty and 28,000 MT of Cement Based Grey Mortar) per annum.

The above products will be marketed under its Brand name Aerocon, which is one of the most trusted name for building products in the Country. The Companys Jhajjar Dry Mix Plant shall cater to the growing market in Haryana and other states of the Country.

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Quadrant Televentures decides to close its GSM Business operations
Jan 16,2017

Quadrant Televentures has decided to close its GSM Business Operations with effect from 15 February 2017. As per the requirements of Unified Access Services License granted by the Department of Telecommunications, the Company has served on 16 January 2017 a prior intimation/ notice of 30 days through SMS to its existing GSM Customers, regarding closure/ discontinuation of GSM Services of the Company with effect from 15 February 2017.

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Knitworth Exports appoints director
Jan 16,2017

Knitworth Exports has appointed Deepa Hakani as Additional Director of the Company with effect from 14 January 2017.

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Delta Corp to commence Casino operations in Gangtok, Sikkim
Jan 16,2017

Delta Corp on 16 January 2017 has been issued a licence for operations of a Casino in Gangtok, Sikkim, under the Sikkim Casino (Control &Tax) Act, 2002.

The Company is fully ready to commence its Casino operations and will do so immediately.

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APL Apollo Tubes completes acquisition of Blue Ocean Projects
Jan 16,2017

APL Apollo Tubes has completed the acquisition of Blue Ocean Projects by acquiring all the shares (100%) of Blue Ocean Projects on 14 January 2017 and consequently, Blue Ocean Projects has now become a wholly owned subsidiary of the Company w.e.f 14 January 2017.

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DCB Bank standalone net profit rises 24.51% in the December 2016 quarter
Jan 16,2017

Net profit of DCB Bank rose 24.51% to Rs 51.30 crore in the quarter ended December 2016 as against Rs 41.20 crore during the previous quarter ended December 2015. Total Operating Income rose 28.00% to Rs 550.20 crore in the quarter ended December 2016 as against Rs 429.85 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Total Operating Income550.20429.85 28 OPM %64.5866.42 - PBDT78.7263.30 24 PBT78.7263.30 24 NP51.3041.20 25

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Triumph International Finance India reports standalone nil net profit/loss in the December 2016 quarter
Jan 16,2017

Triumph International Finance India reported no net profit/loss in the quarter ended December 2016 and during the previous quarter ended December 2015. There were no Sales reported in the quarter ended December 2016 as against Rs 0.01 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales00.01 -100 OPM %00 - PBDT00 0 PBT00 0 NP00 0

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Multi Commodity Exchange of India standalone net profit rises 93.83% in the December 2016 quarter
Jan 16,2017

Net profit of Multi Commodity Exchange of India rose 93.83% to Rs 33.94 crore in the quarter ended December 2016 as against Rs 17.51 crore during the previous quarter ended December 2015. Sales rose 27.34% to Rs 63.43 crore in the quarter ended December 2016 as against Rs 49.81 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales63.4349.81 27 OPM %30.3640.25 - PBDT50.3840.32 25 PBT45.8833.90 35 NP33.9417.51 94

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Hil reports standalone net profit of Rs 8.06 crore in the December 2016 quarter
Jan 16,2017

Net profit of Hil reported to Rs 8.06 crore in the quarter ended December 2016 as against net loss of Rs 3.89 crore during the previous quarter ended December 2015. Sales declined 7.44% to Rs 198.59 crore in the quarter ended December 2016 as against Rs 214.55 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales198.59214.55 -7 OPM %5.422.91 - PBDT21.764.60 373 PBT11.67-5.32 LP NP8.06-3.89 LP

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Network 18 Media & Investments reports consolidated net loss of Rs 79.79 crore in the December 2016 quarter
Jan 16,2017

Net loss of Network 18 Media & Investments reported to Rs 79.79 crore in the quarter ended December 2016 as against net profit of Rs 50.37 crore during the previous quarter ended December 2015. Sales declined 7.24% to Rs 371.94 crore in the quarter ended December 2016 as against Rs 400.98 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales371.94400.98 -7 OPM %-2.439.17 - PBDT-53.4565.51 PL PBT-76.8150.60 PL NP-79.7950.37 PL

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