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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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Aarti Industries standalone net profit rises 21.61% in the December 2016 quarter
Feb 07,2017

Net profit of Aarti Industries rose 21.61% to Rs 73.84 crore in the quarter ended December 2016 as against Rs 60.72 crore during the previous quarter ended December 2015. Sales rose 3.40% to Rs 759.33 crore in the quarter ended December 2016 as against Rs 734.34 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales759.33734.34 3 OPM %19.7817.70 - PBDT120.32103.23 17 PBT90.8480.29 13 NP73.8460.72 22

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Kakatiya Cement Sugar & Industries standalone net profit declines 24.09% in the December 2016 quarter
Feb 07,2017

Net profit of Kakatiya Cement Sugar & Industries declined 24.09% to Rs 8.92 crore in the quarter ended December 2016 as against Rs 11.75 crore during the previous quarter ended December 2015. Sales rose 10.72% to Rs 76.94 crore in the quarter ended December 2016 as against Rs 69.49 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales76.9469.49 11 OPM %17.4019.40 - PBDT15.4214.65 5 PBT14.8414.02 6 NP8.9211.75 -24

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Nitta Gelatin India standalone net profit declines 29.96% in the December 2016 quarter
Feb 07,2017

Net profit of Nitta Gelatin India declined 29.96% to Rs 5.26 crore in the quarter ended December 2016 as against Rs 7.51 crore during the previous quarter ended December 2015. Sales declined 13.96% to Rs 78.35 crore in the quarter ended December 2016 as against Rs 91.06 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales78.3591.06 -14 OPM %13.1014.41 - PBDT10.7212.27 -13 PBT8.039.93 -19 NP5.267.51 -30

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Deltron reports standalone net loss of Rs 0.01 crore in the December 2016 quarter
Feb 07,2017

Net loss of Deltron reported to Rs 0.01 crore in the quarter ended December 2016 as against net profit of Rs 0.04 crore during the previous quarter ended December 2015. Sales declined 50.00% to Rs 0.07 crore in the quarter ended December 2016 as against Rs 0.14 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales0.070.14 -50 OPM %-171.43-85.71 - PBDT-0.010.04 PL PBT-0.010.04 PL NP-0.010.04 PL

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Astral Poly Technik consolidated net profit rises 56.36% in the December 2016 quarter
Feb 07,2017

Net profit of Astral Poly Technik rose 56.36% to Rs 32.68 crore in the quarter ended December 2016 as against Rs 20.90 crore during the previous quarter ended December 2015. Sales rose 11.81% to Rs 449.82 crore in the quarter ended December 2016 as against Rs 402.31 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales449.82402.31 12 OPM %14.1010.01 - PBDT58.0134.15 70 PBT44.7123.35 91 NP32.6820.90 56

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Allsec Technologies consolidated net profit rises 140.54% in the December 2016 quarter
Feb 07,2017

Net profit of Allsec Technologies rose 140.54% to Rs 16.79 crore in the quarter ended December 2016 as against Rs 6.98 crore during the previous quarter ended December 2015. Sales rose 52.68% to Rs 87.73 crore in the quarter ended December 2016 as against Rs 57.46 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales87.7357.46 53 OPM %18.3913.92 - PBDT18.519.52 94 PBT17.277.77 122 NP16.796.98 141

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Central Board of Direct Taxes (CBDT) signs four more unilateral Advance Pricing Agreements (APAs)
Feb 07,2017

The Central Board of Direct Taxes (CBDT),Department of Revenue, Ministry of Finance has entered into four more unilateral Advance Pricing Agreements (APAs).

The four APAs signed pertain to the Manufacturing, Financial and Information Technology sectors of the economy. The international transactions covered in these agreements include Contract Manufacturing, IT Enabled Services and Software Development Services.

With this, the total number of APAs entered into by the CBDT has reached 130. This includes 8 bilateral APAs and 122 Unilateral APAs. In the current financial year, a total of 66 APAs (5 bilateral APAs and 61 unilateral APAs) have already been entered into. The CBDT expects more APAs to be concluded and signed before the end of the current fiscal.

The APA Scheme was introduced in the Income-tax Act in 2012 and the n++Rollbackn++ provisions were introduced in 2014. The scheme endeavours to provide certainty to taxpayers in the domain of transfer pricing by specifying the methods of pricing and determining the prices of international transactions in advance. Since its inception, the APA scheme has evinced a lot of interest from taxpayers and that has resulted in more than 700 applications (both unilateral and bilateral) being filed so far in about five years.

The progress of the APA Scheme strengthens the Governments resolve of fostering a non-adversarial tax regime. The Indian APA program has been appreciated nationally and internationally for being able to address complex transfer pricing issues in a fair and transparent manner.

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GI Engineering Solutions to hold board meeting
Feb 07,2017

GI Engineering Solutions will hold a meeting of the Board of Directors of the Company on 14 February 2017, to approve and take on record the Un-audited Financial Results of the Company for the Third Quarter and Nine Months ended 31 December 2016, to approve the Unaudited Financial Results of the Company for the quarter and nine months ended 31 December 2016.

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Celebrity Fashions to hold board meeting
Feb 07,2017

Celebrity Fashions will hold a meeting of the Board of Directors of the Company on 13 February 2017, to consider and approve the Unaudited Financial Results of the Company for the quarter and nine months ended 31 December 2016.

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Mystic Electronics to hold board meeting
Feb 07,2017

Mystic Electronics will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider and approve the Un-Audited Financial Results of the Company for the quarter and nine months ended 31 December 2016.

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Fortis Healthcare to hold board meeting
Feb 07,2017

Fortis Healthcare will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider and approve the Un-audited Financial Results for the quarter and period ended on 31 December 2016 (Q3).

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Ram Minerals and Chemicals to hold board meeting
Feb 07,2017

Ram Minerals and Chemicals will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider and approve the unaudited financial results of the Company for the quarter ended on 31 December 2016.

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Rama Steel Tubes to hold EGM
Feb 07,2017

Rama Steel Tubes announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 3 March 2017.

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JHS Svendgaard Laboratories to hold board meeting
Feb 07,2017

JHS Svendgaard Laboratories will hold a meeting of the Board of Directors of the Company on 13 February 2017, to consider, approve and take on record the unaudited financial results of the Company for the third quarter ended 31 December 2016.

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Technocraft Industries (India) to hold board meeting
Feb 07,2017

Technocraft Industries (India) will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider and approve the Un-Audited Financial Results for the quarter and nine months ended 31 December 2016.

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