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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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TCI Express standalone net profit rises 74.39% in the June 2017 quarter
Aug 02,2017

Net profit of TCI Express rose 74.39% to Rs 12.12 crore in the quarter ended June 2017 as against Rs 6.95 crore during the previous quarter ended June 2016. Sales rose 15.67% to Rs 203.17 crore in the quarter ended June 2017 as against Rs 175.64 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales203.17175.64 16 OPM %9.096.72 - PBDT18.3811.58 59 PBT17.2110.59 63 NP12.126.95 74

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Reliance Defence & Engineering reports standalone net loss of Rs 230.42 crore in the June 2017 quarter
Aug 02,2017

Net Loss of Reliance Defence & Engineering reported to Rs 230.42 crore in the quarter ended June 2017 as against net loss of Rs 134.50 crore during the previous quarter ended June 2016. Sales rose 134.18% to Rs 164.72 crore in the quarter ended June 2017 as against Rs 70.34 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales164.7270.34 134 OPM %7.562.60 - PBDT-71.75-127.30 44 PBT-121.01-177.54 32 NP-230.42-134.50 -71

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Golden Legand Leasing & Finance reports standalone nil net profit/loss in the June 2017 quarter
Aug 02,2017

Golden Legand Leasing & Finance reported no net profit/loss in the quarter ended June 2017 and during the previous quarter ended June 2016. There were no Sales reported in the quarter ended June 2017 and during the previous quarter ended June 2016.

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Adinath Exim Resources standalone net profit declines 33.33% in the June 2017 quarter
Aug 02,2017

Net profit of Adinath Exim Resources declined 33.33% to Rs 0.02 crore in the quarter ended June 2017 as against Rs 0.03 crore during the previous quarter ended June 2016. Sales declined 85.71% to Rs 0.01 crore in the quarter ended June 2017 as against Rs 0.07 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales0.010.07 -86 OPM %-1100.0028.57 - PBDT0.020.04 -50 PBT0.020.04 -50 NP0.020.03 -33

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MFS Intercorp reports standalone nil net profit/loss in the June 2017 quarter
Aug 02,2017

MFS Intercorp reported no net profit/loss in the quarter ended June 2017 and during the previous quarter ended June 2016. There were no Sales reported in the quarter ended June 2017 and during the previous quarter ended June 2016.

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Board of Trivikrama Industries accepts resignation of CFO
Aug 02,2017

The Board of Trivikrama Industries at its meeting held on 02 August 2017 has approved the resignation of Suguna from the post of Chief Financial Officer w.e.f the closing hours of today.

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South Asian Enterprises director resigns
Aug 02,2017

South Asian Enterprises announced that Salik Chandra Agarwal (DIN: 00108493) has resigned as Director of the Company w.e.f. 02 August 2017.

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Shares of Fortune Financial Services (India) to trade on NSE
Aug 02,2017

Fortune Financial Services (India) announced that the Equity Shares of the company have been permitted to be traded on the platform of The National Stock Exchange of India w.e.f 2 August, 2017.

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Wipro partners with Tricentis
Aug 02,2017

Wipro and Tricentis announced a partnership in Quality Engineering. This partnership with Tricentis will strengthen Wipros Quality Engineering and Testing Services capabilities, by integrating Tricentis Tosca, a continuous testing platform, with Wipro AssureNXT, a managed services QA platform combined with the capabilities of Wipro HOLMES Artificial Intelligence Platform as a part of the broader automation ecosystem.

Along with this partnership agreement, Wipro Ventures, the strategic investment arm of Wipro, has made an investment in Tricentis, as part of their most recent funding round.

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Media Matrix Worldwide to divest entire stake in DigiCall Teleservices
Aug 02,2017

Media Matrix Worldwide announced that the Company on 02 August 2017 has signed Share Purchase Agreement subject to the approval of the shareholders of the Company to divest its entire stake in DigiCall Teleservices (DTPL), a wholly owned subsidiary of the Company to Karvy Data Management Services (KDMSL), pursuant to which (i) DTPL will cease to be a wholly owned subsidiary of the Company; and (ii) DigiCall Global, a wholly owned subsidiary of DTPL and a step down subsidiary of the Company, shall cease to be a subsidiary of the Company.

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Bank stocks edge lower after RBI policy
Aug 02,2017

The announcement of central banks policy decision was made during market hours today, 2 August 2017.

Meanwhile, the S&P BSE Bankex was down 46.76 points or 0.16% to 28,356.31 It underperformed the S&P BSE Sensex, was down 98.43 points or 0.3% to 32,476.74.

The BSE Bankex had outperformed the market over the past one month till 1 August 2017, rising 7.82% compared with 4.34% rise in the Sensex. The index also outperformed the market in past one quarter, gaining 12.5% as against Sensexs 8.97% rise. The index had also outperformed the market in past one year, surging 32.88% as against Sensexs 16.42% rise.

Among public sector banks, Central Bank of India (down 1.72%), Corporation Bank (down 0.4%), State Bank of India (down 0.37%), Dena Bank (down 2.14%), Allahabad Bank (down 0.47%), Bank of India (down 0.34%), Union Bank of India (down 2.72%), Canara Bank (down 2.12%), IDBI Bank (down 0.92%), Andhra Bank (down 0.97%) and Syndicate Bank (down 0.68%) edged lower. Punjab National Bank (up 0.89%) and Bank of Baroda (up 0.03%) rose.

Among private sector banks, Kotak Mahindra Bank (down 1.39%), ICICI Bank (down 0.96%), Federal Bank (down 0.48%), IndusInd Bank (down 0.9%), RBL Bank (down 0.63%), Axis Bank (down 0.62%), HDFC Bank (down 0.3%) and Yes Bank (down 0.44%) edged lower.

On the basis of an assessment of the current and evolving macroeconomic situation at its meeting today, 2 August 2017, the Monetary Policy Committee (MPC) decided to reduce the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points to 6% from 6.25% with immediate effect. Consequently, the reverse repo rate under the LAF stands adjusted to 5.75%, and the marginal standing facility (MSF) rate and the Bank Rate to 6.25%.

The decision of the MPC is consistent with a neutral stance of monetary policy in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4% within a band of +/- 2%, while supporting growth, the RBI said.

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Tyre makers climb after crude oil slides
Aug 02,2017

Apollo Tyres (up 3.34%), CEAT (up 2.62%), JK Tyre & Industries (up 2.23%), MRF (up 1.70%), Goodyear India (up 0.82%) and Balkrishna Industries (up 0.32%), edged higher.

Meanwhile, the S&P BSE Sensex was down 105.93 points, or 0.33% to 32,469.24.

In the global commodities markets, Brent for October 2017 settlement was down 4 cents at $51.74 a barrel. The contract had fallen 94 cents to settle at $51.78 a barrel during the previous trading session.

There are two types of rubber used in manufacturing tires - natural and synthetic. Synthetic rubber is produced from petroleum waste. Price of natural rubber, a main raw material in making tyres, has strong correlation to crude oil prices.

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Federal Bank slips after large bulk deal
Aug 02,2017

Meanwhile, the S&P BSE Sensex was down 120.89 points or 0.37% at 32,454.28

Bulk deal boosted volume on the scrip. On the BSE, 59.86 lakh shares were traded on the counter so far as against the average daily volumes of 11.43 lakh shares in the past one quarter. The stock had hit a high of Rs 115.55 and a low of Rs 114.15 so far during the day. The stock had hit a record high of Rs 122.40 on 16 June 2017 and a 52-week low of Rs 61.50 on 4 August 2016.

The stock had underperformed the market over the past one month till 1 August 2017, rising 2.67% compared with 4.34% rise in the Sensex. The scrip also underperformed the market in past one quarter, rising 2.77% as against Sensexs 8.97% rise. The scrip had, however, outperformed the market in past one year, surging 81.85% as against Sensexs 16.42% rise.

The large-cap bank has equity capital of Rs 388.81 crore. Face value per share is Rs 2.

Federal Banks net profit rose 25.61% to Rs 210.15 crore on 17.2% growth in total income to Rs 2653.19 crore in Q1 June 2017 over Q1 June 2016.

Federal Bank is one of the leading private sector banks in India.

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Board of Simbhaoli Sugars approves change in directorate
Aug 02,2017

Simbhaoli Sugars announced that the Board of Directors of the Company at its meeting held on 02 August 2017 has accepted the resignation of S C Kumar (Non-Executive, Independent Director) from Directorship of the Company and appointed Gursimran Kaur Mann as the Managing Director of the Company with immediate effect

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Voltas appoints Chairman
Aug 02,2017

Voltas announced the appointment of Noel N Tata as Non Executive Chairman of the Board of Directors of the Company with effect from 01 September 2017.

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