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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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Board of Banco Products (India) decideds to drop proposal for buyback of shares
Dec 08,2016

Banco Products (India) announced that the Board of Directors of the Company at its meeting held on 08 December 2016 decided to drop the proposal of buyback of equity shares of the Company and decided not to further proceed with the proposal of buyback of equity shares of the Company.

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Board of Banco Products (India) decides to drop proposal for buyback of shares
Dec 08,2016

Banco Products (India) announced that the Board of Directors of the Company at its meeting held on 08 December 2016 decided to drop the proposal of buyback of equity shares of the Company and decided not to further proceed with the proposal of buyback of equity shares of the Company.

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FPIs step up buying
Dec 08,2016

Foreign portfolio investors (FPIs) bought stocks worth a net Rs 229.95 crore from the secondary equity markets on 7 December 2016, compared with their net inflow of Rs 158.74 crore during the preceding trading session on 6 December 2016. The net inflow of Rs 229.95 crore on 7 December 2016 was a result of gross purchases of Rs 3968.96 crore and gross sales of Rs 3739.01 crore. On that day, the Sensex lost 155.89 points or 0.59% to settle at 26,236.87, its lowest closing level since 2 December 2016.

There was an inflow of Rs 124.45 crore from the category primary markets & others on 7 December 2016, which was a result of gross purchases of Rs 125.61 crore and gross sales of Rs 1.16 crore.

FPIs have sold stocks worth a net Rs 781.87 crore into the secondary equity markets in this month so far (till 7 December 2016). FPIs bought shares worth a net Rs 20116.27 crore from the secondary equity markets last month. FPIs have purchased shares worth a net Rs 20272.91 crore from the secondary equity markets in calendar year 2016 so far (till 7 December 2016). FPIs sold shares worth a net Rs 4863.71 crore into the secondary equity markets in calendar year 2015.

There has been a net inflow of Rs 177.23 crore from FPIs into the category primary markets & others in this month so far (till 7 December 2016). There was a net inflow of Rs 1872.02 crore from FPIs into the category primary markets & others last month. The net inflow from FPIs into category primary markets & others has totaled Rs 7864.92 crore in calendar year 2016 so far (till 7 December 2016). There was net inflow of Rs 22168.40 crore from FPIs into the category primary markets & others in calendar year 2015.

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Airlines to post another strong year of profits in 2017: IATA
Dec 08,2016

The International Air Transport Association (IATA) announced that it expects the global airline industry to make a net profit in 2017 of $29.8 billion. On forecast total revenues of $736 billion, that represents a 4.1% net profit margin. This will be the third consecutive year (and the third year in the industrys history) in which airlines will make a return on invested capital (7.9%) which is above the weighted average cost of capital (6.9%).

IATA revised slightly downward its outlook for 2016 airline industry profitability to $35.6 billion (from the June projection of $39.4 billion) owing to slower global GDP growth and rising costs. This will still be the highest absolute profit generated by the airline industry and the highest net profit margin (5.1%).

Airlines continue to deliver strong results. This year we expect a record net profit of $35.6 billion. Even though conditions in 2017 will be more difficult with rising oil prices, we see the industry earning $29.8 billion. Thats a very soft landing and safely in profitable territory. These three years are the best performance in the industrys history - irrespective of the many uncertainties we face. Indeed, risks are abundant - political, economic and security among them. And controlling costs is still a constant battle in our hyper-competitive industry, said Alexandre de Juniac, IATAs Director General and CEO.

We need to put this into perspective. Record profits for airlines means earning more than our cost of capital. For most other businesses that would be considered a normal level of return to investors. But three years of sustainable profits is a first for the airline industry. And after many years of hard work in restructuring and re-engineering the business the industry is also more resilient. We should also recognize that profits are not evenly spread with the strongest performance concentrated in North America, said de Juniac.

2017

While airline industry profits are expected to have reached a cyclical peak in 2016 of $35.6 billion, a soft landing in profitable territory is expected in 2017 with a net profit of $29.8 billion. 2017 is expected to be the eighth year in a row of aggregate airline profitability, illustrating the resilience to shocks that have been built into the industry structure. On average, airlines will retain $7.54 for every passenger carried.

Expected higher oil prices will have the biggest impact on the outlook for 2017. In 2016 oil prices averaged $44.6/barrel (Brent) and this is forecast to increase to $55.0 in 2017. This will push jet fuel prices from $52.1/barrel (2016) to $64.9/barrel (2017). Fuel is expected to account for 18.7% of the industrys cost structure in 2017, which is significantly below the recent peak of 33.2% in 2012-2013.

The demand stimulus from lower oil prices will taper off in 2017, slowing traffic growth to 5.1% (from 5.9% in 2016). Industry capacity expansion is also expected to slow to 5.6% (down from 6.2% in 2016). Capacity growth will still outstrip the increase in demand, thus lowering the global passenger load factor to 79.8% (from 80.2% in 2016).

The negative impact of a lower load factor is expected to be offset somewhat by a strengthening of global economic growth. World GDP is projected to expand by 2.5% in 2017 (up from 2.2% in 2016). Along with structural changes in the industry, this is expected to help stabilize yields for both the cargo and passenger businesses. This is a welcome development as yields (calculated in dollar terms) have fallen each year since 2012.

There is some optimism over the prospects for the cargo business in 2017. The break in falling yields and a moderate uptick in demand (3.5%) will see cargo industry volumes reach a record high of 55.7 million tonnes (up from 53.9 million tonnes in 2016). Industry revenues are expected to rise slightly to $49.4 billion (still well below the $60 billion level of annual revenues experienced in 2010-2014). Trading conditions remain challenging.

Connectivity continues to set new records. We expect nearly 4 billion travelers and 55.7 million tonnes of cargo in the coming year. And almost 1% of global GDP is spent on air transport - some $769 billion. Air transport has made the world more accessible than ever and it is a critical enabler of the global economy, said de Juniac.

Governments, however, do not make aviations work easy. The global tax bill has ballooned to $123 billion. Over 60% of countries put visa barriers in the way of travel. And the total number of ticket taxes exceeds 230. Billions of dollars are wasted in direct costs and lost productivity as a result of inefficient infrastructure. These are only some of the hurdles which confront airlines. Our aim is to work in partnership to help governments better understand and fully maximize the social and economic benefits of efficient global air links, said de Juniac.

2017 Regional Analysis

North American carriers: The strongest financial performance is being delivered by airlines in North America. Net post-tax profits will be the highest at $18.1 billion next year, although down slightly from the $20.3 billion expected in 2016. The net margin for the regions carriers is also expected to be the strongest at 8.5% with an average profit of $19.58/passenger. In 2017 capacity offered by the regions carriers is expected to grow by 2.6%, slightly outpacing expected demand growth of 2.5%. Recent consolidation continues to underpin the regions strong profitability, even as the region faces upwards cost pressures which include the price of fuel.

European carriers: Airlines based in Europe are expected to post an aggregate net profit of $5.6 billion in 2017 which is below the $7.5 billion for 2016. Nonetheless, carriers there are forecast to generate a 2.9% net profit margin and a per passenger profit of $5.65. There remains a significant gap between the performance of the regions carriers and the performance of North American ones. Capacity in 2017 is expected to grow by 4.3%, ahead of demand growth which is forecast at 4.0%. The region is subject to intense competition and hampered by high costs, onerous regulation and high taxes. And terrorist threats remain a real risk, even if confidence is starting to return after the tragic incidents in recent times.

Asia-Pacific carriers: Airlines in the Asia-Pacific region are expected to generate a net profit of $6.3 billion in 2017 (down from $7.3 billion in 2016) for a net margin of 2.9%. On a per passenger basis average profits are anticipated to be $4.44. Capacity offered by the regions carriers is forecast to grow by 7.6%, ahead of a forecast growth in demand of 7.0%. Improved cargo performance is expected to offset rising fuel prices for many of the regions airlines. The expansion of new model airlines and progressive liberalization in the region is intensifying already strong competition. In addition profitability varies widely across the region.

Middle Eastern carriers: Middle Eastern airlines are forecast to generate a net profit of $0.3 billion for a net margin of 0.5% and an average profit per passenger of $1.56. This is below the $900 million profit expected in 2016. Average yields for the regions carriers are low but unit costs are even lower, partly driven by the strong capacity expansion, forecast at 10.1% this year, ahead of expected demand growth of 9.0%. Threats are emerging to the success story of the Gulf carriers, including increases in airport charges across the Gulf States and growing air traffic management delays.

Latin American carriers: Latin American airlines are expected to post a net profit of $200 million, which is slightly lower than the $300 million forecast for 2016. Profit per passenger is expected to be $0.76 with a net profit margin of 0.7%. Capacity offered by the regions carriers is forecast to grow by 4.8% which is ahead of ex

Dharamsi Morarji Chemical Co allots equity shares
Dec 08,2016

Dharamsi Morarji Chemical Co announced that the equity share allotment committee of the Company at its meeting held on 07 December 2016 passed the resolution for issue of 588,930 equity shares of Rs 10 each at price of Rs 101.88 per share on preferential basis.

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Ansal Properties & Infrastructure standalone net profit declines 91.02% in the September 2016 quarter
Dec 08,2016

Net profit of Ansal Properties & Infrastructure declined 91.02% to Rs 1.54 crore in the quarter ended September 2016 as against Rs 17.15 crore during the previous quarter ended September 2015. Sales declined 23.78% to Rs 114.28 crore in the quarter ended September 2016 as against Rs 149.93 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales114.28149.93 -24 OPM %7.87-1.40 - PBDT3.51-8.73 LP PBT2.55-10.04 LP NP1.5417.15 -91

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Ansal Properties & Infrastructure reports consolidated net loss of Rs 0.44 crore in the September 2016 quarter
Dec 08,2016

Net loss of Ansal Properties & Infrastructure reported to Rs 0.44 crore in the quarter ended September 2016 as against net profit of Rs 13.94 crore during the previous quarter ended September 2015. Sales declined 2.79% to Rs 176.90 crore in the quarter ended September 2016 as against Rs 181.98 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales176.90181.98 -3 OPM %13.0613.66 - PBDT6.349.95 -36 PBT1.696.07 -72 NP-0.4413.94 PL

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PNC Infratech standalone net profit rises 15.40% in the September 2016 quarter
Dec 08,2016

Net profit of PNC Infratech rose 15.40% to Rs 35.21 crore in the quarter ended September 2016 as against Rs 30.51 crore during the previous quarter ended September 2015. Sales declined 23.34% to Rs 359.91 crore in the quarter ended September 2016 as against Rs 469.49 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales359.91469.49 -23 OPM %12.8713.00 - PBDT50.5660.57 -17 PBT37.1445.81 -19 NP35.2130.51 15

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GMR Infrastructure reports standalone net loss of Rs 700.34 crore in the September 2016 quarter
Dec 08,2016

Net Loss of GMR Infrastructure reported to Rs 700.34 crore in the quarter ended September 2016 as against net loss of Rs 7.41 crore during the previous quarter ended September 2015. Sales rose 149.02% to Rs 62.23 crore in the quarter ended September 2016 as against Rs 24.99 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales62.2324.99 149 OPM %406.81957.14 - PBDT78.4378.90 -1 PBT74.3474.92 -1 NP-700.34-7.41 -9351

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Crompton Greaves reports consolidated net loss of Rs 10.41 crore in the September 2016 quarter
Dec 08,2016

Net loss of Crompton Greaves reported to Rs 10.41 crore in the quarter ended September 2016 as against net profit of Rs 10.58 crore during the previous quarter ended September 2015. Sales rose 4.61% to Rs 1495.16 crore in the quarter ended September 2016 as against Rs 1429.22 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales1495.161429.22 5 OPM %3.096.32 - PBDT51.8291.22 -43 PBT-4.8430.82 PL NP-10.4110.58 PL

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Prestige Estates Projects consolidated net profit declines 58.24% in the September 2016 quarter
Dec 08,2016

Net profit of Prestige Estates Projects declined 58.24% to Rs 64.51 crore in the quarter ended September 2016 as against Rs 154.47 crore during the previous quarter ended September 2015. Sales declined 29.97% to Rs 1137.07 crore in the quarter ended September 2016 as against Rs 1623.74 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales1137.071623.74 -30 OPM %21.0221.29 - PBDT183.73294.76 -38 PBT136.46264.74 -48 NP64.51154.47 -58

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PNC Infratech consolidated net profit rises 18.92% in the September 2016 quarter
Dec 08,2016

Net profit of PNC Infratech rose 18.92% to Rs 26.53 crore in the quarter ended September 2016 as against Rs 22.31 crore during the previous quarter ended September 2015. Sales declined 25.31% to Rs 499.45 crore in the quarter ended September 2016 as against Rs 668.70 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales499.45668.70 -25 OPM %31.1921.46 - PBDT89.3895.41 -6 PBT29.5938.29 -23 NP26.5322.31 19

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Crompton Greaves standalone net profit declines 11.09% in the September 2016 quarter
Dec 08,2016

Net profit of Crompton Greaves declined 11.09% to Rs 89.94 crore in the quarter ended September 2016 as against Rs 101.16 crore during the previous quarter ended September 2015. Sales rose 5.02% to Rs 1208.13 crore in the quarter ended September 2016 as against Rs 1150.33 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales1208.131150.33 5 OPM %7.308.09 - PBDT121.33159.00 -24 PBT98.14131.95 -26 NP89.94101.16 -11

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Inflow of Funds into Jan Dhan Accounts not alarming
Dec 08,2016

Since the time the Government has alerted people not to allow their accounts, particularly Jan Dhan accounts, to be used by others for the purpose of converting their black money, there has been a considerable decrease in the inflow of funds in Jan Dhan accounts. In the first week after the decision on currency notes was announced, i.e. 8th to 15th November, the total deposits received in Jan Dhan accounts was Rs.20,206 crores. In the second week, between 16th to 22nd November, the flow was Rs.11,347crores. And in the third week between 23rd to 30th November, it was reduced to Rs.4867 crores.

On 1st and 2nd December, the inflow into Jan Dhan account has now been reduced to Rs.410 crores and Rs.389 crores respectively. The average per account deposit in Jan Dhan accounts is Rs.13,113/- for this entire period from 8th November to 2nd December, which is not alarming, given the need to bring all cash to banks.

The Income Tax Department has identified the local clusters and Bank branches where the inflow of Jan Dhan deposits have been more than normal, in order to investigate money deposits in Jan Dhan accounts which belonged to somebody else. .

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IP Rings reports standalone net loss of Rs 1.40 crore in the September 2016 quarter
Dec 08,2016

Net Loss of IP Rings reported to Rs 1.40 crore in the quarter ended September 2016 as against net loss of Rs 0.45 crore during the previous quarter ended September 2015. Sales rose 56.79% to Rs 42.27 crore in the quarter ended September 2016 as against Rs 26.96 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales42.2726.96 57 OPM %7.1412.31 - PBDT0.711.29 -45 PBT-1.34-0.40 -235 NP-1.40-0.45 -211

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