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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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Pratibha Industries reports consolidated net loss of Rs 71.36 crore in the September 2016 quarter
Dec 14,2016

Net loss of Pratibha Industries reported to Rs 71.36 crore in the quarter ended September 2016 as against net profit of Rs 11.71 crore during the previous quarter ended September 2015. Sales declined 62.10% to Rs 328.32 crore in the quarter ended September 2016 as against Rs 866.36 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales328.32866.36 -62 OPM %27.7721.14 - PBDT-56.8333.68 PL PBT-70.0419.97 PL NP-71.3611.71 PL

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MBL Infrastructures provides update on two road projects
Dec 14,2016

MBL Infrastructures announced that Madhya Pradesh Road Development Corporation (MPRDC) has illegally terminated BOT project of Development and Operation of Seoni - Katangi -Maharashtra border section of State Highway no. 54 by two laning on Design, Build, Finance, Operate and Transfer (DBFOT) basis being executed by the 100% subsidiary of the company MBL Highway Development Company and another BOT project for widening and upgrading of Garra - Waraseoni-Maharashtra border section of Major District Road (MDR) in the State of Madhya Pradesh through Public Private Partnership (PPP) on Design, Build, Finance, Operate and Transfer (DBFOT) basis being executed by the 100% subsidiary of the company MBL (MP) Road Nirman Company.

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Capital First allots equity shares to Caladium Investment
Dec 14,2016

Capital First announced that the Board of Directors of the Company vide Resolution passed by Circulation on 14 December 2016, inter-alia approved the allotment of 47,80,000 Equity Shares of Rs. 10/- each of the Company on a preferential basis, pursuant to receipt of subscription amount of Rs. 340.67 crore issued at a price of Rs. 712.70/- per Equity Share (face value of Rs. 10/- each and premium of Rs. 702.70/- per share) to Caladium Investment, which is indirectly wholly-owned by GIC (Ventures), a Singapores Sovereign Wealth Fund.

The said equity shares shall be listed on National Stock Exchange of India and BSE.

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Gorani Industries appoints company secretary
Dec 14,2016

Gorani Industries announced Suruchi Maheshwari, appointed as Whole-Time Company Secretary (Key Managerial Personnel) and Compliance officer of the Company pursuant to provision of Section 203 of the Companies Act 2013 and Rules made there under w.e.f 14 December 2016.

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Promoters hike stake in S H Kelkar and Company
Dec 14,2016

The promoters of S H Kelkar and Company, have increased their stakein the Company by 0.93% to 57.6%. They have purchased 1,348,757 shares at Rs.300 per share translating into a consideration of Rs. 40.46 crore.

The purchase was part of Private Equity Blackstone Groups 4% divestment in the Company. Post divestment, they currently hold 17.6% in the Company.

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Railway revenue rises 6.1% in November 2016
Dec 14,2016

The Indian Railway (IR) has recorded 6.1% growth in its revenues to Rs 13953.85 crore in November 2016 over November 2015, while snapping 4.1% decline to Rs 13146.91 crore in November 2015. The passenger earnings surged 11.3% to Rs 3887.50 crore in November 2016, against 10.3% growth recorded in November 2015. The earnings from freight traffic, accounting for 65.5% of the total revenue rose 1.1% to Rs 9137.62 crore in November 2016, after consistent decline for last 12 straight months. The other coaching revenue dipped 17.8% to Rs 333.09 crore, while the revenue from sundry activities zoomed 179.2% to Rs 595.64 crore in November 2016.

In April-November FY2017, the revenue earnings of IR declined 2.7% to Rs 104834.55 crore, while snapping 7.3% surge recorded in April-November FY2016. Further, the IR revenues have been below the budget target of Rs 117731.23 crore for the above mentioned period.

The goods revenue dipped 7.3% to Rs 66953.90 crore, while the passenger revenue rose at moderated pace of 4.4% to Rs 31492.70 crore in April-November FY2017. The other coaching revenue increased 2.4% to Rs 2956.49 crore, while the sundry earnings surged 44.5% to Rs 3431.46 crore in April-November FY2017.

The passenger traffic of IR increased 7.0% to 709.66 million in November 2016. Passenger traffic rose 1.0% to 5507.62 million in April-November FY2017. The passenger traffic is marginally higher than the budget estimate of 5472.07 million for April-November FY2017.

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Valecha Engineering announces resignation of director
Dec 14,2016

Valecha Engineering announced that Umesh H. Valecha, Whole-Time-Director having submitted his resignation, ceased to be the Director of the Company.

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Supreme Holdings & Hospitality provides financial update
Dec 14,2016

Supreme Holdings & Hospitality announced that the Company has fully repaid the Term Loan of Rs. 41,10,51,621 (Forty One Crore Ten Lakh Fifty One Thousand Six Hundred and Twenty One) availed from Oriental Bank of Commerce, Cuff Parade, Mumbai for its residential project at Pune.

The Company is in the process of releasing the charge created by the Oriental Bank of Commerce on Pune Land as a security for repayment of the Term Loan, since the entire amount of Term Loan availed is fully satisfied.

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Supreme Holdings & Hospitality provides financial update
Dec 14,2016

Supreme Holdings & Hospitality announced that the Company has fully repaid the Term Loan of Rs. 41,10,51,621 (Forty One Crore Ten Lakh Fifty One Thousand Six Hundred and Twenty One) availed from Oriental Bank of Commerce, Cuff Parade, Mumbai for its residential project at Pune.

The Company is in the process of releasing the charge created by the Oriental Bank of Commerce on Pune Land as a security for repayment of the Term Loan, since the entire amount of Term Loan availed is fully satisfied.

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Indias fuel product consumption jumps 12.3% in November 2016
Dec 14,2016

Indias fuel product consumption or sales increased 12.3% to 16.64 mt in November 2016 over a year ago. Diesel sales increased 10.6% to 6.75 mt, while petcoke sales moved up 38.3% to 1.91 mt, LPG 15.9% to 1.88 mt and petrol 14.2% to 2.03 mt. Consumption of bitumen also gained 23.6% to 0.53 mt, fuel oil 11.5% to 0.57 mt, and ATF 8.2% to 0.58 mt. Further, the consumption of lubes/greases increased 14.4% to 0.29 mt, naphtha 3.3% to 1.08 mt, others 4.8% to 0.58 mt, and LDO 51.5% to 0.04 mt. However, the consumption of kerosene dipped 31.8% to 0.39 mt in November 2016.

Consumption or sales of fuel product increased 9.7% to 130.00 mt in April-November 2016 over April-November 2015. Sales of petcoke increased 44.0%, diesel 4.1%, petrol 11.7%, and LPG 11.6%. Consumption of fuel oil also moved up 17.0%, ATF 12.0%, naphtha 3.0% and bitumen 7.1%. Further, the consumption of lubes/greases inched up 9.2%, others 3.5% and LDO 18.4%, but declined for kerosene 15.8% in April-November 2016.

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Housing Development & Infrastructure standalone net profit declines 35.83% in the September 2016 quarter
Dec 14,2016

Net profit of Housing Development & Infrastructure declined 35.83% to Rs 36.79 crore in the quarter ended September 2016 as against Rs 57.33 crore during the previous quarter ended September 2015. Sales declined 8.36% to Rs 214.88 crore in the quarter ended September 2016 as against Rs 234.48 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales214.88234.48 -8 OPM %51.3768.36 - PBDT38.9769.56 -44 PBT37.1167.58 -45 NP36.7957.33 -36

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Lakshmi Energy & Foods reports standalone net profit of Rs 24.05 crore in the September 2016 quarter
Dec 14,2016

Net profit of Lakshmi Energy & Foods reported to Rs 24.05 crore in the quarter ended September 2016 as against net loss of Rs 1.97 crore during the previous quarter ended September 2015. Sales rose 22.61% to Rs 304.44 crore in the quarter ended September 2016 as against Rs 248.29 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales304.44248.29 23 OPM %14.7512.49 - PBDT35.062.64 1228 PBT27.66-2.84 LP NP24.05-1.97 LP

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Hindustan Copper standalone net profit declines 11.04% in the September 2016 quarter
Dec 14,2016

Net profit of Hindustan Copper declined 11.04% to Rs 6.77 crore in the quarter ended September 2016 as against Rs 7.61 crore during the previous quarter ended September 2015. Sales declined 20.12% to Rs 161.85 crore in the quarter ended September 2016 as against Rs 202.61 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales161.85202.61 -20 OPM %5.329.08 - PBDT40.2731.40 28 PBT9.153.28 179 NP6.777.61 -11

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TVS Srichakra standalone net profit declines 1.61% in the September 2016 quarter
Dec 14,2016

Net profit of TVS Srichakra declined 1.61% to Rs 48.18 crore in the quarter ended September 2016 as against Rs 48.97 crore during the previous quarter ended September 2015. Sales rose 6.48% to Rs 515.13 crore in the quarter ended September 2016 as against Rs 483.77 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales515.13483.77 6 OPM %15.4116.98 - PBDT76.5579.86 -4 PBT64.2069.76 -8 NP48.1848.97 -2

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Gammon India reports standalone net loss of Rs 71.92 crore in the September 2016 quarter
Dec 14,2016

Net loss of Gammon India reported to Rs 71.92 crore in the quarter ended September 2016 as against net profit of Rs 553.29 crore during the previous quarter ended September 2015. Sales declined 61.62% to Rs 676.34 crore in the quarter ended September 2016 as against Rs 1762.34 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales676.341762.34 -62 OPM %5.2538.46 - PBDT-51.10636.82 PL PBT-80.35568.30 PL NP-71.92553.29 PL

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