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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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Siddhi Vinayak Shipping Corporation to announce September half year results
Nov 11,2016

Siddhi Vinayak Shipping Corporation announced that the Meeting of the Board of Directors of the Company will be held on 14 November 2016to inter alia consider and approve the unaudited financial result for the half year ended as on 30 September 2016.

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Maithan Alloys intimates of suspension of production at its Byrnihat Unit
Nov 11,2016

Maithan Alloys announced that captive power plant of the Companys Byrnihat Unit (Meghalaya) catering power requirement of the unit, had developed a snag resulting in stoppage of the production.

On inspection it has been ascertained that boiler tubes have leaked and it is estimated that production in the unit shall remain suspended for about a month.

The Byrnihat Unit contributes around 10% of the total revenue of the Company.

There is no insurance cover for the loss of production.

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Inventure Growth & Securities reports standalone net profit of Rs 3.42 crore in the September 2016 quarter
Nov 11,2016

Net profit of Inventure Growth & Securities reported to Rs 3.42 crore in the quarter ended September 2016 as against net loss of Rs 5.36 crore during the previous quarter ended September 2015. Sales rose 12.96% to Rs 3.05 crore in the quarter ended September 2016 as against Rs 2.70 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales3.052.70 13 OPM %158.36-211.85 - PBDT5.28-5.26 LP PBT5.07-5.48 LP NP3.42-5.36 LP

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Asit C Mehta Financial Services reports standalone net profit of Rs 0.04 crore in the September 2016 quarter
Nov 11,2016

Net profit of Asit C Mehta Financial Services reported to Rs 0.04 crore in the quarter ended September 2016 as against net loss of Rs 0.71 crore during the previous quarter ended September 2015. Sales rose 218.87% to Rs 1.69 crore in the quarter ended September 2016 as against Rs 0.53 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales1.690.53 219 OPM %76.9228.30 - PBDT0.38-0.63 LP PBT0.04-0.74 LP NP0.04-0.71 LP

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State Bank of India consolidated net profit declines 99.59% in the September 2016 quarter
Nov 11,2016

Net profit of State Bank of India declined 99.59% to Rs 20.70 crore in the quarter ended September 2016 as against Rs 4991.70 crore during the previous quarter ended September 2015. Total Operating Income rose 2.38% to Rs 56287.87 crore in the quarter ended September 2016 as against Rs 54977.28 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Total Operating Income56287.8754977.28 2 OPM %35.5057.43 - PBDT-190.677747.23 PL PBT-190.677747.23 PL NP20.704991.70 -100

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Haldyn Glass standalone net profit rises 632.50% in the September 2016 quarter
Nov 11,2016

Net profit of Haldyn Glass rose 632.50% to Rs 2.93 crore in the quarter ended September 2016 as against Rs 0.40 crore during the previous quarter ended September 2015. Sales rose 46.63% to Rs 46.38 crore in the quarter ended September 2016 as against Rs 31.63 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales46.3831.63 47 OPM %16.025.91 - PBDT7.211.95 270 PBT4.430.54 720 NP2.930.40 633

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Kandagiri Spinning Mills reports standalone net loss of Rs 4.30 crore in the September 2016 quarter
Nov 11,2016

Net Loss of Kandagiri Spinning Mills reported to Rs 4.30 crore in the quarter ended September 2016 as against net loss of Rs 1.81 crore during the previous quarter ended September 2015. Sales declined 59.18% to Rs 17.83 crore in the quarter ended September 2016 as against Rs 43.68 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales17.8343.68 -59 OPM %4.886.78 - PBDT-2.390.03 PL PBT-4.30-1.86 -131 NP-4.30-1.81 -138

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Eureka Industries reports standalone net loss of Rs 0.01 crore in the September 2016 quarter
Nov 11,2016

Net loss of Eureka Industries 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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Gujarat Cotex reports standalone net loss of Rs 0.01 crore in the September 2016 quarter
Nov 11,2016

Net Loss of Gujarat Cotex reported to Rs 0.01 crore in the quarter ended September 2016 as against net loss of Rs 0.02 crore during the previous quarter ended September 2015. Sales reported to Rs 3.97 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. Sales3.970 0 OPM %-0.250 - PBDT-0.01-0.02 50 PBT-0.01-0.02 50 NP-0.01-0.02 50

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State Bank of India standalone net profit declines 34.56% in the September 2016 quarter
Nov 11,2016

Net profit of State Bank of India declined 34.56% to Rs 2538.32 crore in the quarter ended September 2016 as against Rs 3879.07 crore during the previous quarter ended September 2015. Total Operating Income rose 4.09% to Rs 42318.85 crore in the quarter ended September 2016 as against Rs 40657.56 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Total Operating Income42318.8540657.56 4 OPM %53.8464.23 - PBDT3327.605905.29 -44 PBT3327.605905.29 -44 NP2538.323879.07 -35

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Bharat Agri Fert & Realty reports standalone net profit of Rs 0.60 crore in the September 2016 quarter
Nov 11,2016

Net profit of Bharat Agri Fert & Realty reported to Rs 0.60 crore in the quarter ended September 2016 as against net loss of Rs 1.01 crore during the previous quarter ended September 2015. Sales rose 5.84% to Rs 8.70 crore in the quarter ended September 2016 as against Rs 8.22 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales8.708.22 6 OPM %14.14-6.45 - PBDT1.18-0.47 LP PBT0.58-0.99 LP NP0.60-1.01 LP

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iStreet Network reports standalone net loss of Rs 0.83 crore in the September 2016 quarter
Nov 11,2016

Net Loss of iStreet Network reported to Rs 0.83 crore in the quarter ended September 2016 as against net loss of Rs 0.66 crore during the previous quarter ended September 2015. Sales rose 399.42% to Rs 17.23 crore in the quarter ended September 2016 as against Rs 3.45 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales17.233.45 399 OPM %-4.59-17.97 - PBDT-0.79-0.62 -27 PBT-0.83-0.66 -26 NP-0.83-0.66 -26

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Servalakshmi Paper reports standalone net loss of Rs 15.89 crore in the September 2016 quarter
Nov 11,2016

Net Loss of Servalakshmi Paper reported to Rs 15.89 crore in the quarter ended September 2016 as against net loss of Rs 12.96 crore during the previous quarter ended September 2015. Sales declined 99.16% to Rs 0.13 crore in the quarter ended September 2016 as against Rs 15.46 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales0.1315.46 -99 OPM %-984.62-20.31 - PBDT-13.19-10.38 -27 PBT-15.89-12.96 -23 NP-15.89-12.96 -23

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Board of Eureka Industries approves resignation of director
Nov 11,2016

Eureka Industries announced that the Board of Directors of the Company at its meeting held on 11 November 2016, inter alia, has transacted the following:

- Narayan B. Prajapati has resigned from the Board w.e.f. 11 November 2016, his resignation was approved by the Board.

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Board of Jindal Photo approves shifting of registered office
Nov 11,2016

The Board of Jindal Photo at its meeting held on 11 November 2016 approved the shifting of registered office of the Company from Union Territory of Dadra to 19th K.M., Hapur -Bulandshahr Road, P O Galaothi, District Bulandshahr, Uttar Pradesh.

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