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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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BASF India transfers its industrial coating business to Akzo Noble India
Dec 15,2016

BASF India announced that the parent company, BASF SE, Germany has completed the sale of global industrial coatings business to AkzoNobel. Consequently, the industrial coatings business of the Company would stand transferred to Akzo Noble India with effect from 14 December 2016. The Company has received an aggregate sum of Rs 11.17 crore from Akzo Noble India toward the consideration for the sale of the said business.

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BASF India transfers its industrial coating business to Akzo Noble India
Dec 15,2016

BASF India announced that the parent company, BASF SE, Germany has completed the sale of global industrial coatings business to AkzoNobel. Consequently, the industrial coatings business of the Company would stand transferred to Akzo Noble India with effect from 14 December 2016. The Company has received an aggregate sum of Rs 11.17 crore from Akzo Noble India toward the consideration for the sale of the said business.

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Sonata Software announces US patent for Halosys Mobility Platform
Dec 15,2016

Sonata Software announced that its Unified Enterprise Mobility Platform Halosys has been granted a patent for its innovation on rule based notifications. This patent has far reaching implications beyond web and mobile, to automate systems that can trigger responses based on events in enterprise systems like ERP, CRM enabling more intelligent and automated apps and bots applications to be deployed for digital business innovation.

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Sonata Software announces US patent for Halosys Mobility Platform
Dec 15,2016

Sonata Software announced that its Unified Enterprise Mobility Platform Halosys has been granted a patent for its innovation on rule based notifications. This patent has far reaching implications beyond web and mobile, to automate systems that can trigger responses based on events in enterprise systems like ERP, CRM enabling more intelligent and automated apps and bots applications to be deployed for digital business innovation.

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National Aluminium Company leads losers in A group
Dec 15,2016

National Aluminium Company slumped 5.82% to Rs 62.35 at 12:30 IST. The stock topped the losers in the BSEs A group. On the BSE, 5.78 lakh shares were traded on the counter so far as against the average daily volumes of 12.25 lakh shares in the past two weeks.

Muthoot Finance slipped 3.06% at Rs 271. The stock was the second biggest loser in A group. On the BSE, 21,000 shares were traded on the counter so far as against the average daily volumes of 97,000 shares in the past two weeks.

Unitech fell 2.75% to Rs 4.61 after the company reported consolidated net loss of Rs 13 crore in Q2 September 2016 compared with consolidated net loss of Rs 65.70 crore in Q2 September 2015. Unitechs total income dropped 42.27% to Rs 385.94 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 14 December 2016.

The stock was the third biggest loser in A group. On the BSE, 21.18 lakh shares were traded on the counter so far as against the average daily volumes of 27.67 lakh shares in the past two weeks.

HPCL declined 2.25% to Rs 424.90. The stock was the fourth biggest loser in A group. On the BSE, 2.38 lakh shares were traded on the counter so far as against the average daily volumes of 2.28 lakh shares in the past two weeks.

Balrampur Chini Mills dropped 2.03% at Rs 117.95. The stock was the fifth biggest loser in A group. On the BSE, 1 lakh shares were traded on the counter so far as against the average daily volumes of 77,000 shares in the past two weeks.

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Sita Shree Food Products reports standalone net loss of Rs 63.89 crore in the September 2016 quarter
Dec 15,2016

Net loss of Sita Shree Food Products reported to Rs 63.89 crore in the quarter ended September 2016 as against net profit of Rs 0.92 crore during the previous quarter ended September 2015. Sales declined 69.94% to Rs 56.81 crore in the quarter ended September 2016 as against Rs 188.98 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales56.81188.98 -70 OPM %-97.943.86 - PBDT-62.382.65 PL PBT-63.801.19 PL NP-63.890.92 PL

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Ankit Metal & Power reports standalone net loss of Rs 58.33 crore in the September 2016 quarter
Dec 15,2016

Net Loss of Ankit Metal & Power reported to Rs 58.33 crore in the quarter ended September 2016 as against net loss of Rs 71.96 crore during the previous quarter ended September 2015. There were no Sales reported in the quarter ended September 2016 as against Rs 290.85 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales0290.85 -100 OPM %0-7.85 - PBDT-48.24-54.56 12 PBT-58.33-71.96 19 NP-58.33-71.96 19

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Bombay Rayon Fashions reports standalone net loss of Rs 53.56 crore in the September 2016 quarter
Dec 15,2016

Net loss of Bombay Rayon Fashions reported to Rs 53.56 crore in the quarter ended September 2016 as against net profit of Rs 20.69 crore during the previous quarter ended September 2015. Sales declined 1.19% to Rs 981.63 crore in the quarter ended September 2016 as against Rs 993.43 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales981.63993.43 -1 OPM %13.8223.27 - PBDT-38.0270.31 PL PBT-77.3031.64 PL NP-53.5620.69 PL

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Titagarh Wagons reports standalone net profit of Rs 5.25 crore in the September 2016 quarter
Dec 15,2016

Net profit of Titagarh Wagons reported to Rs 5.25 crore in the quarter ended September 2016 as against net loss of Rs 0.54 crore during the previous quarter ended September 2015. Sales rose 17.61% to Rs 95.89 crore in the quarter ended September 2016 as against Rs 81.53 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales95.8981.53 18 OPM %5.90-0.18 - PBDT10.013.19 214 PBT7.610.51 1392 NP5.25-0.54 LP

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City Union Bank opens new branch at Korattur, Chennai
Dec 15,2016

City Union Bank has inaugurated its 526th branch at Korattur, Chennai on 15 December 2016.

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Prakash Industries standalone net profit rises 1533.71% in the September 2016 quarter
Dec 15,2016

Net profit of Prakash Industries rose 1533.71% to Rs 14.54 crore in the quarter ended September 2016 as against Rs 0.89 crore during the previous quarter ended September 2015. Sales rose 0.62% to Rs 501.41 crore in the quarter ended September 2016 as against Rs 498.34 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales501.41498.34 1 OPM %11.138.63 - PBDT40.4626.13 55 PBT14.540.89 1534 NP14.540.89 1534

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Hindustan Dorr-Oliver reports standalone net loss of Rs 43.71 crore in the September 2016 quarter
Dec 15,2016

Net Loss of Hindustan Dorr-Oliver reported to Rs 43.71 crore in the quarter ended September 2016 as against net loss of Rs 46.17 crore during the previous quarter ended September 2015. Sales declined 54.55% to Rs 22.75 crore in the quarter ended September 2016 as against Rs 50.05 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales22.7550.05 -55 OPM %-28.35-14.03 - PBDT-43.58-46.02 5 PBT-43.71-46.17 5 NP-43.71-46.17 5

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IVRCL reports standalone net loss of Rs 354.47 crore in the September 2016 quarter
Dec 15,2016

Net Loss of IVRCL reported to Rs 354.47 crore in the quarter ended September 2016 as against net loss of Rs 306.55 crore during the previous quarter ended September 2015. Sales declined 21.77% to Rs 501.46 crore in the quarter ended September 2016 as against Rs 641.00 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales501.46641.00 -22 OPM %-36.00-24.07 - PBDT-337.67-309.41 -9 PBT-356.15-329.18 -8 NP-354.47-306.55 -16

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Asian Star Company standalone net profit rises 28.28% in the September 2016 quarter
Dec 15,2016

Net profit of Asian Star Company rose 28.28% to Rs 11.75 crore in the quarter ended September 2016 as against Rs 9.16 crore during the previous quarter ended September 2015. Sales rose 36.47% to Rs 680.12 crore in the quarter ended September 2016 as against Rs 498.37 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales680.12498.37 36 OPM %3.623.14 - PBDT21.2813.97 52 PBT17.2110.44 65 NP11.759.16 28

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Patel Engineering standalone net profit rises 289.75% in the September 2016 quarter
Dec 15,2016

Net profit of Patel Engineering rose 289.75% to Rs 37.65 crore in the quarter ended September 2016 as against Rs 9.66 crore during the previous quarter ended September 2015. Sales declined 10.92% to Rs 601.44 crore in the quarter ended September 2016 as against Rs 675.17 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales601.44675.17 -11 OPM %20.2814.74 - PBDT57.4727.15 112 PBT46.8214.99 212 NP37.659.66 290

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