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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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Simplex Projects reports standalone net loss of Rs 8.69 crore in the September 2016 quarter
Dec 10,2016

Net Loss of Simplex Projects reported to Rs 8.69 crore in the quarter ended September 2016 as against net loss of Rs 21.19 crore during the previous quarter ended September 2015. Sales rose 7.40% to Rs 130.05 crore in the quarter ended September 2016 as against Rs 121.09 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales130.05121.09 7 OPM %0.224.56 - PBDT-5.55-13.35 58 PBT-9.64-18.37 48 NP-8.69-21.19 59

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Dhunseri Petrochem reports standalone net profit of Rs 4.31 crore in the September 2016 quarter
Dec 10,2016

Net profit of Dhunseri Petrochem reported to Rs 4.31 crore in the quarter ended September 2016 as against net loss of Rs 20.92 crore during the previous quarter ended September 2015. Sales declined 98.12% to Rs 9.90 crore in the quarter ended September 2016 as against Rs 526.49 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales9.90526.49 -98 OPM %75.66-3.17 - PBDT8.55-30.95 LP PBT8.46-44.14 LP NP4.31-20.92 LP

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Tara Jewels standalone net profit declines 85.05% in the September 2016 quarter
Dec 10,2016

Net profit of Tara Jewels declined 85.05% to Rs 0.64 crore in the quarter ended September 2016 as against Rs 4.28 crore during the previous quarter ended September 2015. Sales declined 12.07% to Rs 265.66 crore in the quarter ended September 2016 as against Rs 302.11 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales265.66302.11 -12 OPM %9.208.84 - PBDT6.0911.95 -49 PBT0.976.90 -86 NP0.644.28 -85

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Tara Jewels standalone net profit declines 85.05% in the September 2016 quarter
Dec 10,2016

Net profit of Tara Jewels declined 85.05% to Rs 0.64 crore in the quarter ended September 2016 as against Rs 4.28 crore during the previous quarter ended September 2015. Sales declined 12.07% to Rs 265.66 crore in the quarter ended September 2016 as against Rs 302.11 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales265.66302.11 -12 OPM %9.208.84 - PBDT6.0911.95 -49 PBT0.976.90 -86 NP0.644.28 -85

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Lanco Infratech reports standalone net loss of Rs 150.63 crore in the September 2016 quarter
Dec 10,2016

Net loss of Lanco Infratech reported to Rs 150.63 crore in the quarter ended September 2016 as against net profit of Rs 5.20 crore during the previous quarter ended September 2015. Sales declined 56.94% to Rs 478.50 crore in the quarter ended September 2016 as against Rs 1111.17 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales478.501111.17 -57 OPM %17.1321.96 - PBDT-127.0932.39 PL PBT-150.635.20 PL NP-150.635.20 PL

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Lanco Infratech reports standalone net loss of Rs 150.63 crore in the September 2016 quarter
Dec 10,2016

Net loss of Lanco Infratech reported to Rs 150.63 crore in the quarter ended September 2016 as against net profit of Rs 5.20 crore during the previous quarter ended September 2015. Sales declined 56.94% to Rs 478.50 crore in the quarter ended September 2016 as against Rs 1111.17 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales478.501111.17 -57 OPM %17.1321.96 - PBDT-127.0932.39 PL PBT-150.635.20 PL NP-150.635.20 PL

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Jaypee Infratech Director resigns
Dec 09,2016

Jaypee Infratech announced that Dr. Ramesh Chandra Vaish, has vide his letter dated 08 December 2016 resigned as Independent Director from the Board of Directors of the Company with immediate effect, due to personal reasons.

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PVR opens 5 screen multiplex in Vadodra, Gujarat
Dec 09,2016

PVR announced that it is opening a 5 screen multiplex at Eva Mall, Vadodra in Gujarat. With this launch, PVR now operates the largest multiplex network with 562 screens at 122 properties in 48 cities pan India. PVR Cinemas also becomes the largest player in Gujarat State with 12 properties and 53 screens.

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Zensar Technologies Positioned in the 2016 Gartner Magic Quadrant
Dec 09,2016

Zensar Technologies announced that it has been positioned by Gartner Inc. in the niche players quadrant of 2016 Magic Quadrant for Managed Mobility Services, Worldwide.

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Strides Shasun to acquire Perrigos US FDA approved API facility in India
Dec 09,2016

Strides Shasun has signed definitive agreements to acquire entire shareholding in Perrigo API India for Rs 100 crore. The transaction is subject customary closing conditions and expected to be closed by 31 December 2016.

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Somany Ceramics redeems Commercial Paper aggregating Rs 25 crore
Dec 09,2016

Somany Ceramics announced that Commercial Paper of Rs. 25.00 crore issued on 29 September 2016 with maturity date of 09 December 2016 has been redeemed.

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Board of State Bank of India approves divestment of 3.9% stake in SBI Life Insurance Company
Dec 09,2016

State Bank of India announcednthat the Executive Committee of the Central Board (ECCB) of the Bank at its meeting held on 09 December 2016 has approved divestment of 3,90,00,000 equity shares constituting 3.9% stake in SBI Life Insurance Company at a price of Rs. 460 per share, subject to all regulatory approvals.

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NLC India appoints director
Dec 09,2016

NLC India announced that R. Vikraman has assumed charge as Director (Human Resource) of the Company w.e.f. 09 December 2016.

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Edelweiss Financial Services gets ratings assigned for ST debt issue
Dec 09,2016

Edelweiss Financial Services announced that CRISIL has assigned the rating of CRISIL A1+ (CRISIL A one plus) to the proposed Short Term Debt Issue of Rs. 3000 crore of the Company.

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Gujarat Mineral Development Corporation reschedules board meeting
Dec 09,2016

Gujarat Mineral Development Corporation announced that the Government of Gujarat vide Notification dated 09 December 2016 has declared 12 December 2016 as a Public Holiday on account of festival of Id-e-Milad. In view of this, the date of the 290th Board Meeting of GMDC stands rescheduled as under:

Date : 13 December 2016
Time : 3.00 PM
Venue Committee Room, Industries and Mines Department, Block No. 5, 3rd Floor, New Sachivalaya Complex, Gandhinagar.

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