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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 Kridhan Infra appoints director
Nov 15,2016

The Board of Kridhan Infra appointed Amar Fadia as an Additional Director on the Board of the Company with effect from 14 November 2016.

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PM takes certain decisions to further activate the dispensing of cash through the networks of BCs, Post Offices, ATMs, Banks & E-payment systems
Nov 15,2016

The Prime Minister Shri Narendra Modi reviewed the supply and availability of currency notes till late evening on 13 November2016.

The Meeting took stock of the current status of supply of cash and took certain decisions to further activate the dispensing of cash through the networks of Banking Correspondents, Post Offices, ATMs, Banks and E-payment systems. Following decisions were also taken keeping in view the convenience of the public.

Banking Correspondents (BCs) Network :

1. Banks will increase the cash holding limit of BCs to at least Rs.50,000/- each. Banks will also allow higher limits in appropriate cases.

2. Banks will replenish the cash with BCs multiple times in a day as per requirement of the BCs.

BCs have wide presence in the rural areas. Totally there are 1.2 lakh BCs in the country. The above decisions will facilitate wider reach in the rural areas for exchange and withdrawal of cash from Bank Accounts.

Postal Network :

3. There are about 1.3 lakh Branch Post Offices in the country. It has been decided to enhance the supply of cash to Branch Post Offices to facilitate cash withdrawals from Postal Accounts.

It may be noted that with 1.2 lakh BCs and 1.3 lakh branch Post Offices getting further activated, a total number of 2.5 lakh points in rural areas will be available to disburse cash and facilitate cash withdrawals from Bank Accounts.

ATM Network :

4. To expedite the process of recalibration of ATMs, a Task Force is being set up under Deputy Governor, RBI consisting of representatives of Banks and Finance Ministry. This Task Force will draw up action plan and ensure implementation of this action plan for quick recalibration of the ATMs to enable them to dispense new Bank notes of Rs.500/- and Rs.2000/-.

5. In the meantime, Micro ATMs will be deployed to dispense cash against Debit/Credit cards up to the cash limits applicable for ATMs. The handheld Micro ATMs have the facility of mobility and deployment at the required places.

Network and Reach of the Banks :

6. The withdrawal limit of Rs.20,000/- per week has been enhanced to Rs.24,000/-. The withdrawal limit of Rs.10,000/- per day has been removed.

7. The limit of Rs.4000/- for over the counter exchange against old Rs.500/- and Rs.1000/- notes has been increased to Rs.4500/-. This will enable the Banks to give lower denomination notes for Rs.500/- while dispensing the remaining Rs.4000/- through Rs.2000/- notes.

8. The ATMs are progressively getting recalibrated. As and when they are recalibrated, the cash limit of such ATMs will stand enhanced to Rs.2500/- per withdrawal. This will enable dispensing of lower denomination currency notes for about Rs.500/- per withdrawal. Other ATMs which are yet to be recalibrated, will continue to dispense Rs.2000/- till they are recalibrated.

9. Business entities having Current Accounts which are operational for last three months or more will be allowed to draw Rs.50,000/-per week. This can be done in a single transaction or multiple transactions. This will enable the small business entities to pay wages to their workers and make sundry payments.

10. Adequate cash will be made available with District Central Cooperative Banks (DCCBs) to facilitate withdrawal from existing accounts. The cash withdrawal limits for Banks will apply in case of DCCBs also.

The above measures would substantially enhance the reach of the banking system to exchange notes and facilitate cash withdrawal from bank accounts.

E-Payments :

11. All Central Government Departments and Public Sector Enterprises are being instructed to use the method of e-payments to the maximum extent possible.

12. RBI has advised National Payments Corporation of India (NPCI) to waive its transaction charges on transactions settled through National Financial Switch(NFS) till 31st December, 2016.

13. Banks are also being advised to waive similar charges currently levied by them.

Arrangements for public convenience :

14. Banks have been advised to arrange separate queues in their branches for senior citizens and divyang persons; customers for transactions against accounts held with the Bank; and exchange of notes. There will, therefore be, three or more separate queues in every branch.

15. Pensioners are required to submit Annual Life Certificate during the month of November. This time limit has been extended up to 15th January, 2017.

16. The existing exemptions for acceptance of old Rs.500/- and Rs.1000/- notes for certain types of transactions are being extended beyond 14th November, 2016 midnight up to 24th November, 2016 mid night.

There is enough cash in the system to meet the requirement. Members of the public are, therefore, advised not to have any sense of panic.

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Tata Motors in focus after declaring turnaround Q2 outcome
Nov 15,2016

Tata Motors reported consolidated net profit of Rs 848.16 crore in Q2 September 2016 as compared with net loss of Rs 1740.20 crore in Q2 September 2015. Total income rose 7% to Rs 66,106.96 crore in Q2 September 2016 over Q2 September 2015. The result was announced on Monday, 14 November 2016, when the stock market was closed for a public holiday.

GAIL (India) will announce its Q2 September 2016 results today, 15 November 2016.

Tata Steel reported consolidated net loss of Rs 49.38 crore in Q2 September 2016 compared with consolidated net profit of Rs 5609.43 crore in Q2 September 2015. Total income fell 0.01% to Rs 27579.57 crore in Q2 September 2016 over Q2 September 2015. The result was announced was announced after market hours on Friday, 11 November 2016.

Aurobindo Pharmas consolidated net profit rose 33.53% to Rs 605.64 crore on 12.03% rise in total income to Rs 3783.73 crore in Q2 September 2016 over Q2 September 2015. The result was announced on Monday, 14 November 2016.

Bharat Petroleum Corporations (BPCL) net profit rose 26.16% to Rs 1305.18 crore on 2.67% fall in total income to Rs 45715.06 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours on Friday, 11 November 2016.

Seperately BPCL after market hours on Friday, 11 November 2016 announced formation of Joint Venture with GAIL Gas for a City Gas Distribution (CGD). Consortium of BPCL and GAIL Gas has been awarded the authorization for laying, building, operating and expanding of a City Gas Distribution Network (CGD Network) in the geographical area of North Goa by the Petroleum and Natural Gas Regulatory Board established under the PNGRB Act, 2006. The board of directors of the company has approved the proposal to form a new Joint Venture Company (JVC) for this purpose, BPCL said. The proposed JVC shall have equal equity participation from BPCL and Gail Gas and with a provision for equity stake of up to 10% for government of Goa or its nominee. The authorization provides exclusively for laying gas pipelines and related infrastructure in the GA over the next 25 years and a marketing exclusivity for 5 years. The CGD Network shall cater to the demand of CNG and Piped Natural Gas to consumers in the domestic, commercial and industrial segments.

Hindalco Industries net profit surged 256.18% to Rs 439.74 crore on 1.28% rise in total income to Rs 9,494.40 crore in Q2 September 2016 over Q2 September 2015. The result was announced on Saturday, 12 November 2016.

Bank of Barodas net profit net profit jumped 343.54% to Rs 552.12 crore on 2.06% decline in total income to Rs 12046.60 crore in Q2 September 2016 over Q2 September 2015. The result was announced was announced after market hours on Friday, 11 November 2016.

IL&FS Transportation Networks said that IIPL USA LLC, a wholly owned subsidiary of the company has been declared as the preferred bidder for the maintenance of 4 project highways in Dallas County, Texas USA. The combined length of the highways to be maintained is 436 Miles (698 Km) for a period of 730 days at the total contract value of $1.75 million (approx. Rs 11.65 crore). This is in continuation to the Routine Maintenance Contract awarded for Tyler District, Texas in the amount of $5.25 million (approx. Rs 35 crore). The announcement was made after market hours on Friday, 11 November 2016.

Hikal said that credit rating agency ICRA has upgraded the companys long term rating from BBB to BBB+. The outlook on long term rating is stable. ICRA has reaffirmed the short term rating of A2. The announcement was made after market hours on Friday, 11 November 2016.

MOIL said that the board of directors of the company has approved Memorandum of Understanding (MoU) signed jointly with Government of Madhya Pradesh, Mineral Resources Department and Madhya Pradesh State Mining Corporation, a PSU under Govt, of Madhya Pradesh to conduct exploration and prospecting works in Madhya Pradesh. The announcement was made after market hours on Friday, 11 November 2016.

Kingfa Science & Technology (India) said that the Maharashtra Industrial Development Corporation has handed over the possession of Plot No. F-5/5 admeasuring 120000 sq mtr of the Chakhan Industrial Area Phase -II, Village Shinde & Vasuli Tal-Khed, District - Pune to the company, for manufacturing facility. The company also has signed the lease Agreement for the land. The result was announced on Monday, 14 November 2016, when the stock market was closed for a public holiday.

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Manaksia Industries reports standalone net profit of Rs 0.84 crore in the September 2016 quarter
Nov 15,2016

Net profit of Manaksia Industries reported to Rs 0.84 crore in the quarter ended September 2016 as against net loss of Rs 0.38 crore during the previous quarter ended September 2015. Sales declined 32.93% to Rs 16.01 crore in the quarter ended September 2016 as against Rs 23.87 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales16.0123.87 -33 OPM %18.867.92 - PBDT1.840.59 212 PBT0.87-0.51 LP NP0.84-0.38 LP

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Reliance Communications reports standalone net loss of Rs 864.00 crore in the September 2016 quarter
Nov 15,2016

Net Loss of Reliance Communications reported to Rs 864.00 crore in the quarter ended September 2016 as against net loss of Rs 361.00 crore during the previous quarter ended September 2015. Sales declined 9.20% to Rs 2212.00 crore in the quarter ended September 2016 as against Rs 2436.00 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales2212.002436.00 -9 OPM %2.0312.03 - PBDT-474.00-199.00 -138 PBT-882.00-683.00 -29 NP-864.00-361.00 -139

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Dhanada Corporation reports standalone net loss of Rs 0.94 crore in the September 2016 quarter
Nov 15,2016

Net Loss of Dhanada Corporation reported to Rs 0.94 crore in the quarter ended September 2016 as against net loss of Rs 0.78 crore during the previous quarter ended September 2015. Sales declined 6.04% to Rs 1.71 crore in the quarter ended September 2016 as against Rs 1.82 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales1.711.82 -6 OPM %5.2619.23 - PBDT-0.43-0.13 -231 PBT-0.94-0.78 -21 NP-0.94-0.78 -21

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SJ Corporation reports standalone net loss of Rs 0.02 crore in the September 2016 quarter
Nov 15,2016

Net loss of SJ Corporation reported to Rs 0.02 crore in the quarter ended September 2016 as against net profit of Rs 0.12 crore during the previous quarter ended September 2015. Sales declined 59.27% to Rs 3.25 crore in the quarter ended September 2016 as against Rs 7.98 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales3.257.98 -59 OPM %-2.771.38 - PBDT00.17 -100 PBT-0.020.15 PL NP-0.020.12 PL

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Manjeera Constructions standalone net profit declines 96.77% in the September 2016 quarter
Nov 15,2016

Net profit of Manjeera Constructions declined 96.77% to Rs 0.06 crore in the quarter ended September 2016 as against Rs 1.86 crore during the previous quarter ended September 2015. Sales declined 51.11% to Rs 2.86 crore in the quarter ended September 2016 as against Rs 5.85 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales2.865.85 -51 OPM %-29.37-11.79 - PBDT0.182.30 -92 PBT0.092.24 -96 NP0.061.86 -97

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Master Chemicals reports standalone net loss of Rs 0.01 crore in the September 2016 quarter
Nov 15,2016

Net loss of Master Chemicals reported to Rs 0.01 crore in the quarter ended September 2016. There were no net profit/loss reported during the previous quarter ended September 2015. There were no Sales reported in the quarter ended September 2016 and during the previous quarter ended September 2015.

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RCC Cements reports standalone net loss of Rs 0.03 crore in the September 2016 quarter
Nov 15,2016

Net Loss of RCC Cements reported to Rs 0.03 crore in the quarter ended September 2016 as against net loss of Rs 0.02 crore during the previous quarter ended September 2015. There were no Sales reported in the quarter ended September 2016 and during the previous quarter ended September 2015.

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Munoth Capital Markets reports standalone net loss of Rs 0.02 crore in the September 2016 quarter
Nov 15,2016

Net Loss of Munoth Capital Markets reported to Rs 0.02 crore in the quarter ended September 2016 as against net loss of Rs 0.08 crore during the previous quarter ended September 2015. Sales rose 25.00% to Rs 0.05 crore in the quarter ended September 2016 as against Rs 0.04 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales0.050.04 25 OPM %-100.00-150.00 - PBDT-0.02-0.07 71 PBT-0.02-0.08 75 NP-0.02-0.08 75

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Vipul standalone net profit rises 1192.31% in the September 2016 quarter
Nov 15,2016

Net profit of Vipul rose 1192.31% to Rs 1.68 crore in the quarter ended September 2016 as against Rs 0.13 crore during the previous quarter ended September 2015. Sales rose 60.66% to Rs 80.30 crore in the quarter ended September 2016 as against Rs 49.98 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales80.3049.98 61 OPM %10.6712.06 - PBDT3.250.44 639 PBT2.980.19 1468 NP1.680.13 1192

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Prism Medico & Pharmacy reports standalone net loss of Rs 0.01 crore in the September 2016 quarter
Nov 15,2016

Net Loss of Prism Medico & Pharmacy reported to Rs 0.01 crore in the quarter ended September 2016 as against net loss of Rs 0.03 crore during the previous quarter ended September 2015. There were no Sales reported in the quarter ended September 2016 and during the previous quarter ended September 2015.

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HRB Floriculture reports standalone net loss of Rs 0.15 crore in the September 2016 quarter
Nov 15,2016

Net Loss of HRB Floriculture reported to Rs 0.15 crore in the quarter ended September 2016 as against net loss of Rs 0.11 crore during the previous quarter ended September 2015. Sales reported to Rs 0.11 crore in the quarter ended September 2016. There were no Sales reported during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales0.110 0 OPM %-118.180 - PBDT-0.13-0.07 -86 PBT-0.15-0.11 -36 NP-0.15-0.11 -36

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Autolite (India) standalone net profit declines 7.32% in the September 2016 quarter
Nov 15,2016

Net profit of Autolite (India) declined 7.32% to Rs 0.38 crore in the quarter ended September 2016 as against Rs 0.41 crore during the previous quarter ended September 2015. Sales declined 6.89% to Rs 25.69 crore in the quarter ended September 2016 as against Rs 27.59 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales25.6927.59 -7 OPM %8.689.06 - PBDT1.060.98 8 PBT0.380.41 -7 NP0.380.41 -7

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