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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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Birla Transasia Carpets reports standalone net loss of Rs 0.30 crore in the March 2017 quarter
Jun 17,2017

Net Loss of Birla Transasia Carpets reported to Rs 0.30 crore in the quarter ended March 2017 as against net loss of Rs 0.22 crore during the previous quarter ended March 2016. Sales declined 29.41% to Rs 0.48 crore in the quarter ended March 2017 as against Rs 0.68 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 1.04 crore in the year ended March 2017 as against net loss of Rs 0.88 crore during the previous year ended March 2016. Sales declined 16.61% to Rs 2.26 crore in the year ended March 2017 as against Rs 2.71 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales0.480.68 -29 2.262.71 -17 OPM %-33.33-4.41 --14.60-10.33 - PBDT-0.23-0.10 -130 -0.61-0.56 -9 PBT-0.30-0.17 -76 -0.89-0.83 -7 NP-0.30-0.22 -36 -1.04-0.88 -18

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Panafic Industrials standalone net profit rises 66.67% in the March 2017 quarter
Jun 17,2017

Net profit of Panafic Industrials rose 66.67% to Rs 0.25 crore in the quarter ended March 2017 as against Rs 0.15 crore during the previous quarter ended March 2016. Sales rose 18.75% to Rs 0.57 crore in the quarter ended March 2017 as against Rs 0.48 crore during the previous quarter ended March 2016.

For the full year,net profit rose 250.00% to Rs 0.63 crore in the year ended March 2017 as against Rs 0.18 crore during the previous year ended March 2016. Sales rose 527.96% to Rs 5.84 crore in the year ended March 2017 as against Rs 0.93 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales0.570.48 19 5.840.93 528 OPM %75.4431.25 -13.8751.61 - PBDT0.250.15 67 0.630.26 142 PBT0.250.15 67 0.630.26 142 NP0.250.15 67 0.630.18 250

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Accel Frontline reports standalone net loss of Rs 9.58 crore in the March 2017 quarter
Jun 17,2017

Net Loss of Accel Frontline reported to Rs 9.58 crore in the quarter ended March 2017 as against net loss of Rs 89.06 crore during the previous quarter ended March 2016. Sales rose 18.08% to Rs 111.73 crore in the quarter ended March 2017 as against Rs 94.62 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 20.82 crore in the year ended March 2017 as against net loss of Rs 137.59 crore during the previous year ended March 2016. Sales rose 13.20% to Rs 365.05 crore in the year ended March 2017 as against Rs 322.49 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales111.7394.62 18 365.05322.49 13 OPM %-0.62-68.27 -2.76-28.10 - PBDT-6.47-69.23 91 -11.92-109.20 89 PBT-9.58-71.53 87 -20.82-117.66 82 NP-9.58-89.06 89 -20.82-137.59 85

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Aruna Hotels reports standalone net loss of Rs 1.23 crore in the March 2017 quarter
Jun 17,2017

Net loss of Aruna Hotels reported to Rs 1.23 crore in the quarter ended March 2017 as against net profit of Rs 0.96 crore during the previous quarter ended March 2016. There were no Sales reported in the quarter ended March 2017 and during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 5.17 crore in the year ended March 2017 as against net loss of Rs 0.07 crore during the previous year ended March 2016. There were no Sales reported in the year ended March 2017 and during the previous year ended March 2016.

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Kitex Garments wins Toy RUs Best Vendor award 2016
Jun 17,2017

Kitex Garments has received US Garments seller Toy RUs best vendor award for the year 2016 consecutively for 3rd time.

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Relaxo Footwears gets reaffirmation of credit ratings
Jun 17,2017

Relaxo Footwears announced that ICRA has reaffirmed the credit rating for the Company as under -

Fund based faciltiies - ICRA A+; Positive (Reaffirmed, Outlook upgraded from Stable)

Non fund based facilities - ICRA A1+ (Reaffirmed)

Commercial Paper - ICRA A1+

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Wipro allots 2,433,074,327 equity shares
Jun 17,2017

The Board of Wipro has allotted 2,433,074,327 equity shares of Rs. 2/- each as fully-paid up bonus equity shares, in the ratio of 1 equity share for every 1 equity share held, to eligible members whose names appear in the register of members/list of beneficiary owners as on 14 June 2017, being the record date fixed for this purpose.

Consequently, the paid-up equity share capital of the Company stands increased to Rs. 9,732,297,308/- consisting of 4,866,148,654 equity shares of Rs. 2/- each.

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Container Corporation Of India announces demise of director
Jun 17,2017

Container Corporation Of India announced that Maj. Gen. (Retd.) Raj Krishan Malhotra, Independent Director (DIN:07483272) ceased to be a director of CONCOR due to his sudden & untimely demise on 16 June 2017.

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Eastern Sugar & Industries to hold AGM
Jun 17,2017

Eastern Sugar & Industries announced that the th Annual General Meeting(AGM) of the company on 18 September 2017.

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Jaysynth Dyestuff (India) to hold AGM
Jun 17,2017

Jaysynth Dyestuff (India) announced that the 32th Annual General Meeting(AGM) of the company on 29 August 2017.

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Thermax to hold AGM
Jun 17,2017

Thermax announced that the 36th Annual General Meeting(AGM) of the company on 29 July 2017.

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Bharat Forge to pay dividend
Jun 17,2017

Bharat Forge announced the dividend, if approved at the 56th Annual General Meeting of the Company to be held on 10 August 2017 will be made on or before 16 August 2017.

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MFL India to hold board meeting
Jun 17,2017

MFL India will hold a meeting of the Board of Directors of the Company on 22 June 2017.

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Deepak Fertilizers & Petrochem. Corp to hold board meeting
Jun 17,2017

Deepak Fertilizers & Petrochem. Corp will hold a meeting of the Board of Directors of the Company on 30 June 2017.

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Uniworth Securities to hold board meeting
Jun 17,2017

Uniworth Securities will hold a meeting of the Board of Directors of the Company on 29 June 2017.

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