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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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T.V. Today Network CEO resigns
Jul 31,2017

T.V. Today Network announced that Ashish Kumar Bagga has resigned from the position of Chief Executive Officer of the Company due to personal reasons with effect from 31 July 2017.

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Board of Board of Tayo Rolls approves change in directorate
Jul 31,2017

The Board of Tayo Rolls at its meeting held on 31 July 2017 has accepted the resignation of K. Shankar Marar (DIN: 06656658) as the Director and Managing Director with effect from closure of the business hours of 31 July 2017.

The Board also appointed Purushottam Das Mundhra as Chief Executive Officer and Key Managerial Personnel of the Company with effect from 01 August 2017.

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Board of Tayo Rolls approves shifting of registered office
Jul 31,2017

Tayo Rolls announced that the Board of Directors of the Company at its meeting held on 31 July 2017 have approved shifting of Registered office of the Company from - Annex-2, General Office, Tata Steel, P.O. & P.S.- Bistupur, Jamshedpur 831 001 Dist: East Singhbhum, Jharkhand to - 3 Circuit House Area (North East), Road No. 11, P.O. & P.S. Bistupur, Jamshedpur-831 001, Dist: East Singhbhum, Jharkhand.

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Varun Mercantile CFO resigns
Jul 31,2017

Varun Mercantile announced that Akshay Vyas, CFO of the Company has resigned with effect from 31 July 2017.

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Brigade Enterprises announces change in CFO
Jul 31,2017

Brigade Enterprises announced that Suresh K has resigned from the post of CFO with effect from 31 July 2017. The Company has appointed K P Pradeep as CFO and KMP with effect from 04 August 2017.

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Future Consumer allots 29,476,462 equity shares
Jul 31,2017

Future Consumer announced that Srishti Mall Management Company has been allotted 29,476,462 equity shares of Rs. 6/- each, on 31 July, 2017, pursuant to exercise of its right to convert the warrants issued and allotted on preferential basis.

Consequent to allotment of equity shares as aforesaid, the paid-up share capital of the Company stands increased to Rs. 10,151,812,200/- comprising of 1,691,968,700 equity shares of Rs. 6/- each.

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EPFOs tie-up with Banks to collect EPFO dues & to make payments of PF withdrawals, pension & insurance to EPFO beneficiaries
Jul 31,2017

Employees Provident Fund Organisation (EPFO) has tied up/entered into arrangement agreement with ten banks to collect EPFO dues and to make payments of Provident Fund (PF) withdrawals, pension and insurance to EPFO beneficiaries. These banks are State Bank of India, Punjab National Bank, Indian Bank, Allahabad Bank, Union Bank of India, Bank of Baroda, HDFC Bank, ICICI Bank, Axis Bank and Kotak Mahindra Bank.

The main objective of the multi banking arrangement is to provide more options to the employers to remit the Employees Provident Fund (EPF) contribution directly from their bank accounts. This will not only make them cost effective but also ensure real time transfer of funds through net banking.

In order to provide social security benefits to the workers in the unorganised sector, the Government has enacted the Unorganised Workers Social Security Act, 2008. The said Act stipulates formulation of suitable welfare schemes for unorganised workers on matters relating to: (i) life and disability cover, (ii) health and maternity benefits, (iii) old age protection and (iv) any other benefit as may be determined by the Central Government through the National Social Security Board. In this regard, various schemes have been formulated by the line Ministries at the Centre to provide social security cover to the unorganized workers.

The review of various welfare initiatives is an ongoing process like revision in the threshold limit for coverage under the Payment of Bonus Act, 1965 and Employees State Insurance Act, 1948, enhancement of the benefit payable under the Employees Deposit Linked Insurance Scheme, revision of minimum wages in the Central sphere, enhancement of paid maternity leave, etc.

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Reliance Power consolidated net profit declines 32.20% in the June 2017 quarter
Jul 31,2017

Net profit of Reliance Power declined 32.20% to Rs 230.85 crore in the quarter ended June 2017 as against Rs 340.49 crore during the previous quarter ended June 2016. Sales declined 1.62% to Rs 2635.24 crore in the quarter ended June 2017 as against Rs 2678.68 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales2635.242678.68 -2 OPM %44.1742.63 - PBDT514.96565.72 -9 PBT326.92419.01 -22 NP230.85340.49 -32

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Grovy India reports standalone net loss of Rs 0.07 crore in the June 2017 quarter
Jul 31,2017

Net Loss of Grovy India reported to Rs 0.07 crore in the quarter ended June 2017 as against net loss of Rs 0.01 crore during the previous quarter ended June 2016. There were no Sales reported in the quarter ended June 2017 as against Rs 0.63 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales00.63 -100 OPM %0-3.17 - PBDT-0.07-0.01 -600 PBT-0.07-0.01 -600 NP-0.07-0.01 -600

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Reliance Power standalone net profit declines 6.57% in the June 2017 quarter
Jul 31,2017

Net profit of Reliance Power declined 6.57% to Rs 17.07 crore in the quarter ended June 2017 as against Rs 18.27 crore during the previous quarter ended June 2016. Sales declined 1.69% to Rs 14.00 crore in the quarter ended June 2017 as against Rs 14.24 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales14.0014.24 -2 OPM %-93.21-52.18 - PBDT22.4822.42 0 PBT18.3418.27 0 NP17.0718.27 -7

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JK Paper standalone net profit rises 125.47% in the June 2017 quarter
Jul 31,2017

Net profit of JK Paper rose 125.47% to Rs 60.11 crore in the quarter ended June 2017 as against Rs 26.66 crore during the previous quarter ended June 2016. Sales rose 4.21% to Rs 632.07 crore in the quarter ended June 2017 as against Rs 606.51 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales632.07606.51 4 OPM %24.2118.81 - PBDT119.8368.64 75 PBT90.1938.82 132 NP60.1126.66 125

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Axtel Industries standalone net profit declines 50.72% in the June 2017 quarter
Jul 31,2017

Net profit of Axtel Industries declined 50.72% to Rs 1.02 crore in the quarter ended June 2017 as against Rs 2.07 crore during the previous quarter ended June 2016. Sales declined 11.16% to Rs 12.89 crore in the quarter ended June 2017 as against Rs 14.51 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales12.8914.51 -11 OPM %13.0317.44 - PBDT1.572.73 -42 PBT1.022.07 -51 NP1.022.07 -51

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Bharat Electronics standalone net profit rises 247.24% in the June 2017 quarter
Jul 31,2017

Net profit of Bharat Electronics rose 247.24% to Rs 125.32 crore in the quarter ended June 2017 as against Rs 36.09 crore during the previous quarter ended June 2016. Sales rose 98.36% to Rs 1694.55 crore in the quarter ended June 2017 as against Rs 854.30 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales1694.55854.30 98 OPM %9.64-4.58 - PBDT235.3492.05 156 PBT179.2748.59 269 NP125.3236.09 247

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Tech Mahindra consolidated net profit declines 0.60% in the June 2017 quarter
Jul 31,2017

Net profit of Tech Mahindra declined 0.60% to Rs 791.79 crore in the quarter ended June 2017 as against Rs 796.54 crore during the previous quarter ended June 2016. Sales rose 6.00% to Rs 7336.10 crore in the quarter ended June 2017 as against Rs 6920.93 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales7336.106920.93 6 OPM %12.7414.84 - PBDT1308.431245.21 5 PBT1061.591043.33 2 NP791.79796.54 -1

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Kilpest India consolidated net profit rises 1575.00% in the June 2017 quarter
Jul 31,2017

Net profit of Kilpest India rose 1575.00% to Rs 0.67 crore in the quarter ended June 2017 as against Rs 0.04 crore during the previous quarter ended June 2016. Sales rose 59.09% to Rs 4.20 crore in the quarter ended June 2017 as against Rs 2.64 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales4.202.64 59 OPM %26.1916.29 - PBDT0.940.28 236 PBT0.820.17 382 NP0.670.04 1575

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