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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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Matra Kaushal Enterprise reports standalone net loss of Rs 0.07 crore in the December 2016 quarter
Feb 25,2017

Net Loss of Matra Kaushal Enterprise reported to Rs 0.07 crore in the quarter ended December 2016 as against net loss of Rs 0.07 crore during the previous quarter ended December 2015. Sales rose 56.56% to Rs 3.46 crore in the quarter ended December 2016 as against Rs 2.21 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales3.462.21 57 OPM %-2.02-3.17 - PBDT-0.07-0.07 0 PBT-0.07-0.07 0 NP-0.07-0.07 0

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Ashirwad Steels & Industries standalone net profit declines 17.86% in the December 2016 quarter
Feb 25,2017

Net profit of Ashirwad Steels & Industries declined 17.86% to Rs 0.46 crore in the quarter ended December 2016 as against Rs 0.56 crore during the previous quarter ended December 2015. Sales reported to Rs 0.74 crore in the quarter ended December 2016. There were no Sales reported during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales0.740 0 OPM %-14.860 - PBDT0.620.72 -14 PBT0.460.56 -18 NP0.460.56 -18

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Marg Projects & Infrastructure reports standalone net loss of Rs 0.08 crore in the December 2016 quarter
Feb 25,2017

Net Loss of Marg Projects & Infrastructure reported to Rs 0.08 crore in the quarter ended December 2016 as against net loss of Rs 0.06 crore during the previous quarter ended December 2015. There were no Sales reported in the quarter ended December 2016 as against Rs 0.03 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales00.03 -100 OPM %033.33 - PBDT-0.010.04 PL PBT-0.09-0.07 -29 NP-0.08-0.06 -33

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Nuway Organic Naturals India reports standalone net loss of Rs 2.78 crore in the December 2016 quarter
Feb 25,2017

Net Loss of Nuway Organic Naturals India reported to Rs 2.78 crore in the quarter ended December 2016 as against net loss of Rs 0.12 crore during the previous quarter ended December 2015. Sales declined 71.12% to Rs 1.73 crore in the quarter ended December 2016 as against Rs 5.99 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales1.735.99 -71 OPM %-64.1628.71 - PBDT-1.811.00 PL PBT-2.78-0.12 -2217 NP-2.78-0.12 -2217

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Tantia Constructions reports standalone net loss of Rs 13.82 crore in the December 2016 quarter
Feb 25,2017

Net Loss of Tantia Constructions reported to Rs 13.82 crore in the quarter ended December 2016 as against net loss of Rs 4.18 crore during the previous quarter ended December 2015. Sales declined 46.04% to Rs 54.79 crore in the quarter ended December 2016 as against Rs 101.53 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales54.79101.53 -46 OPM %1.3313.53 - PBDT-11.95-1.78 -571 PBT-14.22-4.86 -193 NP-13.82-4.18 -231

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IL&FS Engineering & Construction Co issues 99,62,407 equity shares
Feb 25,2017

IL&FS Engineering & Construction Co announced that the Executive Committee of the Board of Directors of the Company in its meeting held on 25 February 2017 approved the issuance of 99,62,407 equity share at a price of Rs 53.20 per share (face value of Rs 10 and premium of Rs 43.40) on preferential basis to Infrastructure Leasing and Financial Services (Promoter) and IL&FS Financial Services (Promoter Group) for raising Rs 53 crore from the issue.

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PG Foils to hold board meeting
Feb 25,2017

PG Foils will hold a meeting of the Board of Directors of the Company on 6 March 2017.

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Western India Shipyard to hold board meeting
Feb 25,2017

Western India Shipyard will hold a meeting of the Board of Directors of the Company on 3 March 2017, to consider the report on the business operations of the Company.

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Aashee Infotech to hold board meeting
Feb 25,2017

Aashee Infotech will hold a meeting of the Board of Directors of the Company on 4 March 2017.

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Phillips Carbon Black to hold board meeting
Feb 25,2017

Phillips Carbon Black will hold a meeting of the Board of Directors of the Company on 1 March 2017, to consider a proposal for declaration of an Interim Dividend for the Financial Year ending March 31, 2017 and to fix Record Date for payment of the said Interim Dividend.

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Faze Three to hold EGM
Feb 25,2017

Faze Three announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 22 March 2017 .

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Bombay Rayon Fashions to hold board meeting
Feb 25,2017

Bombay Rayon Fashions will hold a meeting of the Board of Directors of the Company on 6 March 2017, to consider, approve and take on record, the Un-audited Financial Results for the quarter ended 31 December 2016.

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Stovec Industries to hold AGM
Feb 25,2017

Stovec Industries announced that the 43rd Annual General Meeting (AGM) of the company will be held on 11 May 2017.

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Coal India provides update on subsidiary - Northern Coalfields
Feb 25,2017

Coal India announced that the Board of Directors of Northern Coalfields (subsidiary of Coal India) at its meeting held on 24 February 2017 has considered and approved the buyback of 76,356 fully paid up equity shares of face value of Rs 1000 each from the members of NCL on a proportionate basis through tender offer (representing 4.2975% of the total number of equity shares in the paid up share capital of Northern Coalfields) for an aggregate amount not exceeding Rs 1244.1218 crore being 25% of the paid up equity shares capital and free reserves as per its limited reviewed unaudited financials for the period 01 April 2016 to 31 December 2016 at a price of Rs 1,62,937 per equity shares, payable in cash, subject to the approval of shareholders of Northern Coalfields.

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Solix Technologies partners with Taadin Data Technology
Feb 25,2017

TechNVision Ventures affiliate, Solix Technologies announced a partnership with Taadin Data Technology, a data management services and solutions company serving the MENA region, to provide comprehensive data management and archiving solutions.

Taadin Data Technology will offer the Solix Big Data Suite and Solix Enterprise Data Management Suite to its customers, providing support for enterprise archiving, application retirement and advance analytics on low-cost Apache Hadoop.

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