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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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AcroPetal Technologies to hold board meeting
Feb 09,2017

AcroPetal Technologies will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider and approve the Un audited Financial Results of the Company for the quarter and nine months period ended 31 December 2016, both on stand alone and on consolidated basis.

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Board of Jyoti Structures appoints company secretary
Feb 09,2017

The Board of Directors of Jyoti Structures at the meeting held on 09 February 2017 has approved the appointment of Sanjeevlata Samdani as Company Secretary and Compliance Officer of the Company with effect from 9 February 2017.

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Board of Veronica Production approves change in registered office
Feb 09,2017

The Board of Directors of Veronica Production has approved to change the registered office of the Company to 130 Silver Chamber, Tagore Road, Opp Atul Motors, Rajkot - 360002.

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Rupee sustains momentum
Feb 09,2017

Rupee closed higher at 66.8425/8525 per dollar on Thursday (09 February 2017), versus its previous close of 67.1950/2050 per dollar.

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Edelweiss Financial Services fixes record date for interim dividend
Feb 09,2017

Edelweiss Financial Services has fixed 21 February 2017 as the Record Date for the purpose Payment of Interim Dividend.

The said Interim Dividend will be credited/dispatched between 28 February 2017 and 07 March 2017.

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Tata Consultancy Services Certified as a Top Employer in North America 2017
Feb 09,2017

Tata Consultancy Services announced that it has been certified as a Top Employer in North America 2017 by the Top Employers Institute. This is the third consecutive year TCS has been certified in the U.S. and the second consecutive year for TCS in Canada.

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Beneficiaries under NFSA not yet enrolled for Aadhaar, require to make application for Aadhaar enrolment by 30 June 2017
Feb 09,2017

The use of Aadhaar as identity document for delivery of services or benefits or subsidies simplifies the Government delivery processes, brings in transparency and efficiency, and enables beneficiaries to get their entitlements directly in a convenient and seamless manner and Aadhaar obviates the need for producing multiple documents to prove ones identity. Aadhaar Act interalia provides that the Central/State Govt while making expenditure from Consolidated fund of India for any subsidy, may require such individual to furnish proof of possession of Aadhaar number or undergo authentication.

Since, subsidized foodgrains under PDS and Cash Transfer of Food Subsidy under NFSA etc. involves recurring expenditure from the Consolidated Fund of India, the Ministry Consumer Affairs, Food and Public Distribution has issued a Notification under Aadhaar Act on 8-2-2017 which requires individual beneficiaries having Ration Cards under NFSA to furnish proof of possession of Aadhaar number or undergo Aadhaar authentication to receive subsidies under NFSA [ i.e. subsidised food grains or Cash Transfer of Food Subsidy under NFSA]. This condition will also be applicable for all the new beneficiaries. This notification shall come into effect from 08-2-2017 in all States and Union Territories except the States of Assam, Meghalaya and Jammu and Kashmir.

Beneficiaries under NFSA who do not possess the Aadhaar Number or are not yet enrolled for Aadhaar, but are desirous of availing subsidies under NFSA are required to make application for Aadhaar enrolment by 30 June, 2017 and may visit any Aadhaar enrolment centre (list available at www.uidai.gov.in) to get enrolled for Aadhaar.

Till the Aadhaar is assigned to the beneficiaries of subsidises under NFSA, the entitlements shall be given to such individuals on production of Ration Card and either Aadhaar Enrolment ID slip or copy of his/her request made to State Govt for Aadhaar Enrolment alongwith any of the 8 documents i.e. Voter ID Card, PAN, Passport, Driving License, Certificate of Identity with photo issued by Gazetted Officer/Tehsildar on official letter head, Address card having Name and Photo issued by Deptt of Posts, Kisan Photo Passbook and any other document as specified by State/UT Govts. Beneficiaries can make their request for Aadhaar enrolment by giving their name, address, mobile number with Ration Card number and other details with their fair price shop owners or through the web portal provided for the purpose by State /UT Governments.

The Food Department of State/UT Government, shall make wide publicity through media and individual notices through the district food supply office or fair price shops, etc., to make the beneficiaries aware of the requirement of Aadhaar under the scheme. The State /UT Govt shall also advise beneficiaries to get themselves enrolled at the nearest enrolment centres available in their areas by 30th June, 2017 and a list of locally available enrolment centres shall be made available to them. State Govt shall also offer enrolment facilities for the beneficiaries and in case there is no Aadhaar enrolment centre located in the respective Block or Taluka or Tehsil, the State/UT Govt is required to provide enrolment facilities at convenient locations in coordination with the UIDAI or the existing Registrars of UIDAI or by becoming UIDAI registrar themselves.

The State/UT Government shall link the Aadhaar number of beneficiary with the Ration Card or with Bank Account for Cash Transfer of Food Subsidy within thirty days after receiving the same.

Provision has also been made that any member of eligible household listed in the Ration Card shall be entitled to receive the entire quantity of entitled subsidised food grains or Cash Transfer of Food Subsidy under NFSA, if any one member of the household in the Ration Card fulfils the identification conditions in case Aadhaar number is not yet assigned to all such members of the household.

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Mercantile Ventures announces resignation of director
Feb 09,2017

Mercantile Ventures announced that M Rajamani, Director vide his letter dated 08 February 2017 has resigned from the Board of the Company.

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Regency Trust reports standalone net profit of Rs 0.01 crore in the December 2016 quarter
Feb 09,2017

Net profit of Regency Trust reported to Rs 0.01 crore in the quarter ended December 2016. There were no net profit/loss reported during the previous quarter ended December 2015. Sales declined 30.00% to Rs 0.07 crore in the quarter ended December 2016 as against Rs 0.10 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales0.070.10 -30 OPM %14.290 - PBDT0.010 0 PBT0.010 0 NP0.010 0

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Supertex Industries standalone net profit rises 400.00% in the December 2016 quarter
Feb 09,2017

Net profit of Supertex Industries rose 400.00% to Rs 0.10 crore in the quarter ended December 2016 as against Rs 0.02 crore during the previous quarter ended December 2015. Sales rose 8.02% to Rs 24.25 crore in the quarter ended December 2016 as against Rs 22.45 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales24.2522.45 8 OPM %2.681.56 - PBDT0.220.13 69 PBT0.100.02 400 NP0.100.02 400

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ABB India standalone net profit rises 13.44% in the December 2016 quarter
Feb 09,2017

Net profit of ABB India rose 13.44% to Rs 146.79 crore in the quarter ended December 2016 as against Rs 129.40 crore during the previous quarter ended December 2015. Sales rose 2.39% to Rs 2440.95 crore in the quarter ended December 2016 as against Rs 2384.00 crore during the previous quarter ended December 2015.

For the full year,net profit rose 25.47% to Rs 376.25 crore in the year ended December 2016 as against Rs 299.88 crore during the previous year ended December 2015. Sales rose 6.24% to Rs 8515.56 crore in the year ended December 2016 as against Rs 8015.15 crore during the previous year ended December 2015.

ParticularsQuarter EndedYear Endedn++Dec. 2016Dec. 2015% Var.Dec. 2016Dec. 2015% Var. Sales2440.952384.00 2 8515.568015.15 6 OPM %11.5511.04 -8.778.89 - PBDT262.94253.19 4 727.00634.38 15 PBT224.09209.00 7 576.05474.59 21 NP146.79129.40 13 376.25299.88 25

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Hinduja Global Solutions standalone net profit rises 30.33% in the December 2016 quarter
Feb 09,2017

Net profit of Hinduja Global Solutions rose 30.33% to Rs 30.34 crore in the quarter ended December 2016 as against Rs 23.28 crore during the previous quarter ended December 2015. Sales rose 13.58% to Rs 418.52 crore in the quarter ended December 2016 as against Rs 368.47 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales418.52368.47 14 OPM %14.4115.61 - PBDT66.6959.47 12 PBT47.1934.13 38 NP30.3423.28 30

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Inventure Growth & Securities reports standalone net loss of Rs 4.26 crore in the December 2016 quarter
Feb 09,2017

Net loss of Inventure Growth & Securities reported to Rs 4.26 crore in the quarter ended December 2016 as against net profit of Rs 5.88 crore during the previous quarter ended December 2015. Sales declined 29.23% to Rs 2.76 crore in the quarter ended December 2016 as against Rs 3.90 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales2.763.90 -29 OPM %-128.62137.95 - PBDT-2.995.97 PL PBT-3.205.74 PL NP-4.265.88 PL

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Danlaw Technologies India standalone net profit rises 52.17% in the December 2016 quarter
Feb 09,2017

Net profit of Danlaw Technologies India rose 52.17% to Rs 0.35 crore in the quarter ended December 2016 as against Rs 0.23 crore during the previous quarter ended December 2015. Sales rose 27.07% to Rs 2.91 crore in the quarter ended December 2016 as against Rs 2.29 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales2.912.29 27 OPM %6.192.18 - PBDT0.450.39 15 PBT0.400.34 18 NP0.350.23 52

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Triton Corp. reports standalone net loss of Rs 0.13 crore in the December 2016 quarter
Feb 09,2017

Net Loss of Triton Corp. reported to Rs 0.13 crore in the quarter ended December 2016 as against net loss of Rs 0.33 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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