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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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G G Automotive Gears announces demise of director
Nov 12,2016

G G Automotive Gears announced the sad demise of Ram Gajra, Chairman and Managing Director of the Company.

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Associated Stone Industries (Kotah) appoints director
Nov 12,2016

Associated Stone Industries (Kotah) announced that the Board of Directors of the Company at its meeting held on 12 November 2016 approved the appointment of Tushya Jatia as Whole Time Director of the Company with effect from 12 November 2016.

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Board of EMCO to consider Q2 and HY results
Nov 12,2016

EMCO announced that the Meeting of the Board of Directors of the Company is scheduled to be held on 22 November 2016, inter alia, to consider and approve Un-audited Financial Results of the Company for the Second Quarter and Half Year ended on 30 September 2016.

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Outcome of board meeting of Indovation Technologies
Nov 12,2016

Indovation Technologies announced that the Board of Directors of the Company at its meeting held on 11 November 2016 approved the resignation of G Madhava Rao with immediate effect. The board also took note of agreement entered with MIC Electronics, for implementation of CCMS project in Andhra Pradesh.

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Board of Gujchem Distillers India defers decision of delisting from Ahmedabad Stock Exchange
Nov 12,2016

Gujchem Distillers India announced that the board of Directors of the Company at their meeting held on 11 November 2016, inter alia, had considered and approved the following:

- The Board considered the proposal of Delisting of Equity Shares of the Company from Ahmedabad Stock Exchange pursuant to SEBI (Delisting of Equity Shares) Regulations, 2009 as amended from time to time. The Board after due discussion had thought it advisable to defer the agenda.

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Board of Calcom Vision to consider conversion of bonds
Nov 12,2016

Calcom Vision announced that meeting of the Board of Directors of the Company is scheduled to be held on 14 November 2016, to consider and approve the Conversion of Bonds into Equity Shares of the Company as per Scheme approved by Honble Board for Industrial and Financial Reconstruction (BIFR).

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India Home Loan gets National Housing Board approval and No Objection
Nov 12,2016

India Home Loan announced that the National Housing Board vide its letter dated 09 November 2016 gave its regulatory approval and No Objection for:

1. Disposal of equity shares by Anant Bhalotia and Rishabh Siroya.

2. Proposed preferential issue of equity shares by India Home Loan.

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Metkore Alloys & Industries reports standalone net loss of Rs 1.75 crore in the September 2016 quarter
Nov 12,2016

Net Loss of Metkore Alloys & Industries reported to Rs 1.75 crore in the quarter ended September 2016 as against net loss of Rs 2.41 crore during the previous quarter ended September 2015. Sales declined 81.22% to Rs 1.54 crore in the quarter ended September 2016 as against Rs 8.20 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales1.548.20 -81 OPM %-88.31-4.39 - PBDT-1.49-2.12 30 PBT-1.75-2.41 27 NP-1.75-2.41 27

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Smart Finsec reports standalone net profit of Rs 0.11 crore in the September 2016 quarter
Nov 12,2016

Net profit of Smart Finsec reported to Rs 0.11 crore in the quarter ended September 2016 as against net loss of Rs 0.02 crore during the previous quarter ended September 2015. Sales rose 3550.00% to Rs 0.73 crore in the quarter ended September 2016 as against Rs 0.02 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales0.730.02 3550 OPM %12.33-150.00 - PBDT0.170.01 1600 PBT0.15-0.03 LP NP0.11-0.02 LP

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Rose Merc. reports standalone net loss of Rs 0.02 crore in the September 2016 quarter
Nov 12,2016

Net Loss of Rose Merc. reported to Rs 0.02 crore in the quarter ended September 2016 as against net loss of Rs 0.02 crore 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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Sunil Healthcare standalone net profit rises 61.32% in the September 2016 quarter
Nov 12,2016

Net profit of Sunil Healthcare rose 61.32% to Rs 1.71 crore in the quarter ended September 2016 as against Rs 1.06 crore during the previous quarter ended September 2015. Sales rose 52.09% to Rs 25.87 crore in the quarter ended September 2016 as against Rs 17.01 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales25.8717.01 52 OPM %16.7417.52 - PBDT3.492.37 47 PBT2.401.54 56 NP1.711.06 61

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Ravi Leela Granites standalone net profit declines 60.00% in the September 2016 quarter
Nov 12,2016

Net profit of Ravi Leela Granites declined 60.00% to Rs 0.70 crore in the quarter ended September 2016 as against Rs 1.75 crore during the previous quarter ended September 2015. Sales rose 26.93% to Rs 12.68 crore in the quarter ended September 2016 as against Rs 9.99 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales12.689.99 27 OPM %9.5416.62 - PBDT0.831.86 -55 PBT0.701.75 -60 NP0.701.75 -60

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Dynacons Systems & Solutions standalone net profit rises 36.36% in the September 2016 quarter
Nov 12,2016

Net profit of Dynacons Systems & Solutions rose 36.36% to Rs 0.30 crore in the quarter ended September 2016 as against Rs 0.22 crore during the previous quarter ended September 2015. Sales rose 32.11% to Rs 37.73 crore in the quarter ended September 2016 as against Rs 28.56 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales37.7328.56 32 OPM %3.023.64 - PBDT0.510.44 16 PBT0.380.28 36 NP0.300.22 36

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Alchemist Realty reports standalone net loss of Rs 3.30 crore in the September 2016 quarter
Nov 12,2016

Net loss of Alchemist Realty reported to Rs 3.30 crore in the quarter ended September 2016 as against net profit of Rs 3.72 crore 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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CitiPort Financial Services reports standalone nil net profit/loss in the September 2016 quarter
Nov 12,2016

CitiPort Financial Services reported no net profit/loss in the quarter ended September 2016 and during the previous quarter ended September 2015. Sales remain constant at Rs 0.04 crore in the quarter ended September 2016 and also during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales0.040.04 0 OPM %00 - PBDT00 0 PBT00 0 NP00 0

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