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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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AXISCADES Engineering Technologies consolidated net profit declines 53.01% in the September 2016 quarter
Nov 15,2016

Net profit of AXISCADES Engineering Technologies declined 53.01% to Rs 3.43 crore in the quarter ended September 2016 as against Rs 7.30 crore during the previous quarter ended September 2015. Sales declined 0.64% to Rs 93.55 crore in the quarter ended September 2016 as against Rs 94.15 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales93.5594.15 -1 OPM %8.5114.76 - PBDT9.0013.76 -35 PBT6.3311.22 -44 NP3.437.30 -53

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Ajel reports consolidated net profit of Rs 0.04 crore in the September 2016 quarter
Nov 15,2016

Net profit of Ajel remain constant at Rs 0.04 crore in the quarter ended September 2016 and also during the previous quarter ended September 2015. Sales rose 7.75% to Rs 4.31 crore in the quarter ended September 2016 as against Rs 4.00 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales4.314.00 8 OPM %1.391.75 - PBDT0.040.04 0 PBT0.040.04 0 NP0.040.04 0

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JK Paper to allot equity shares
Nov 15,2016

JK Paper announced that the Company is in receipt of Conversion Notices from Foreign Currency Convertible Bonds (FCCBs) Holders, seeking conversion of their FCCBs (Series 2) aggregating to Euro 65,00,000 into about 74 lakh Equity Shares of Rs. 10/- each of the Company.

Accordingly, the Company, upon completion of requisite procedural formalities, will be holding a meeting of Committee of Directors to allot the said Equity Shares upon conversion of such FCCBs.

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Board of L T Foods approves sub-division of equity shares
Nov 15,2016

The Board of L T Foods has approved sub-division of equity shares of the Company from one existing share of Rs 10 to 10 equity shares of Re 1 each.

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Somany Ceramics announces demise of Founder
Nov 15,2016

Somany Ceramics announced Hiralall Ji Somany - Founder of the Company passed away peacefully on 14 November 2016, at the age of 96.

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Smartlink Network Systems invests in wholly owned subsidiaries
Nov 15,2016

Smartlink Network Systems announced that the Company has made following investment in its Wholly Owned Subsidiaries on 15 November 2016.

1. In Digisol Systems (Digisol)

- Rs. 30,00,00,000/- (Rupees Thirty Crores Only) as subscription amount paid towards Non-Convertible Debentures (unlisted) and

- Rs. 5,00,00,000/- (Rupees Five Crores Only) paid as subscription amount towards Equity Shares.

2. In Synegra EMS (Synegra)

- Rs. 3,50,00,000/- (Rupees Three Crores Fifty Lakhs Only) as subscription amount towards Equity Shares.

Further, the Company has informed that:

3. Digisol Systems will be paying Smartlink Network Systems (Smartlink) Rs. 19.00 crore as lumpsum consideration towards Slump Sale.

4. Synegra EMS will be paying Smartlink Network Systems (Smartlink) Rs. 3.30 crore as lumpsum consideration towards Slump Sale.

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Edelweiss Financial Services allots equity shares
Nov 15,2016

Edelweiss Financial Services announced that the Share Allotment Committee has allotted 13,35,725 Equity Shares of the face value of Re. 1/- each under Edelweiss Employee Stock Option Scheme(s) of the Company.

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Integrated Capital Services director resigns
Nov 15,2016

Integrated Capital Services announced that R L Kaura, Director Finance of the Company has resigned with effect from 14 November 2016.

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Rupee flutters
Nov 15,2016

A broad gain of the US Dollar against a basket of currencies led to a free fall in rupee value. Rupee closed at 67.7299/7800 per dollar on Tuesday (15th November 2016), versus its previous close of 67.3799/3900 per dollar on Friday.

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NHAI initiates DPRS for Logistic Efficiency Enhancement Programme (LEEP) under Bharatmala Pariyojna
Nov 15,2016

Under a programme entitled Logistic Efficiency Enhancement Programme (LEEP) aimed to enhance the freight transportation in India through improving cost, time, tracking and transferability of consignments through infrastructure, procedural and Information Technology (IT) interventions, Consultants are being tasked to carry out critical examination of existing logistic infrastructure and destination of freight movement in the country, and 44 freight corridors (Economic Corridors), Inter corridors and feeder routes to reduce cost and time of freight movement. These are proposed to be developed by taking an end-to-end corridor view, rather than stretch-by-stretch road construction view to ensure consistent infrastructure along the corridor, as per discussion between NHAI and Government.

As a first step towards this task, preparation of Detailed Project Reports is being undertaken by NHAI. In the first phase, DPRs of identified 15000 km is proposed to be prepared. In LOT1, NHAI has invited bids for preparation of DPRs for 15,000 km of length in the country. Bids have been invited in 45 packages of about 300 Km length each.

In order to drastically reduce the time taken for conducting surveys, it has been decided to use latest technologies such as LiDAR, Satellite mapping and Ground Penetration Radar (GPR) in preparation of DPRs. This will also help to make data collection comprehensive with accurate measure points and increase the safety for project personnel.

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Maestros Electronics & Telecommunications Systems standalone net profit declines 38.24% in the September 2016 quarter
Nov 15,2016

Net profit of Maestros Electronics & Telecommunications Systems declined 38.24% to Rs 0.21 crore in the quarter ended September 2016 as against Rs 0.34 crore during the previous quarter ended September 2015. Sales rose 65.33% to Rs 3.29 crore in the quarter ended September 2016 as against Rs 1.99 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales3.291.99 65 OPM %10.3322.11 - PBDT0.400.51 -22 PBT0.310.34 -9 NP0.210.34 -38

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Shekhawati Poly-Yarn reports standalone net loss of Rs 7.95 crore in the September 2016 quarter
Nov 15,2016

Net Loss of Shekhawati Poly-Yarn reported to Rs 7.95 crore in the quarter ended September 2016 as against net loss of Rs 18.22 crore during the previous quarter ended September 2015. Sales declined 48.25% to Rs 24.05 crore in the quarter ended September 2016 as against Rs 46.47 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales24.0546.47 -48 OPM %1.91-25.22 - PBDT-5.39-15.82 66 PBT-7.83-18.46 58 NP-7.95-18.22 56

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AIA Engineering consolidated net profit rises 13.24% in the September 2016 quarter
Nov 15,2016

Net profit of AIA Engineering rose 13.24% to Rs 112.35 crore in the quarter ended September 2016 as against Rs 99.21 crore during the previous quarter ended September 2015. Sales rose 8.15% to Rs 514.78 crore in the quarter ended September 2016 as against Rs 476.00 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales514.78476.00 8 OPM %30.9730.07 - PBDT185.26161.93 14 PBT168.21145.44 16 NP112.3599.21 13

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Adinath Bio-Labs standalone net profit declines 75.00% in the September 2016 quarter
Nov 15,2016

Net profit of Adinath Bio-Labs declined 75.00% to Rs 0.01 crore in the quarter ended September 2016 as against Rs 0.04 crore during the previous quarter ended September 2015. Sales declined 27.27% to Rs 0.16 crore in the quarter ended September 2016 as against Rs 0.22 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales0.160.22 -27 OPM %25.0036.36 - PBDT0.040.08 -50 PBT0.010.04 -75 NP0.010.04 -75

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Rishi Laser reports consolidated net loss of Rs 0.70 crore in the September 2016 quarter
Nov 15,2016

Net Loss of Rishi Laser reported to Rs 0.70 crore in the quarter ended September 2016 as against net loss of Rs 3.23 crore during the previous quarter ended September 2015. Sales declined 16.32% to Rs 19.89 crore in the quarter ended September 2016 as against Rs 23.77 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales19.8923.77 -16 OPM %3.621.81 - PBDT0.25-2.00 LP PBT-0.68-3.13 78 NP-0.70-3.23 78

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