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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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NBCC (India) to announce September quarter results
Nov 10,2016

NBCC (India) announced that the meeting of the Board of Directors of the Company will be held on 18 November 2016, inter alia, to consider and approve standalone and consolidated un-audited financial results of the Company for the quarter and half year ended 30 September 2016.

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Board of Hind Syntex appoints director
Nov 10,2016

Hind Syntex announced that the Board of Directors of the Company at its meeting held on 10 November 2016, inter alia, has transacted the following;

- Approved the appointment of Hemant Vasant Ambekar as Additional Director on the Board of Directors of the Company w.e.f 10 November 2016 to hold the office of Additional Director upto the date of Annual General Meeting (AGM).

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Board of Orosil Smiths India appoints director
Nov 10,2016

Orosil Smiths India announced that the board of Directors in the meeting held on 09 November 2016 have appointed Karan Suri as a Additional Director of the Company in terms of Section 161 of companies Act, 2013 who shall hold office upto the date of next Annual General Meeting of the Company.

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Board of ICDS approves withdrawal of application for delisting from BSE
Nov 10,2016

ICDS announced that the Board of Directors of the Company at its meeting held on 10 November 2016, have approved to withdraw the Application of Voluntary Delisting from Bombay Stock Exchange (BSE). Further the Board of Directors has also decided to make an Application for Revocation of Suspension of trading of its Equity Shares from the Bombay Stock Exchange Limited (BSE) and have inter-alia considered the following:

Considered and taken on record the Resignation of Varsha Agrawal, Company Secretary and approved the proposal of Appointment of Veena Hegde Company Secretary and Compliance Officer with immediate effect.

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Board of Tirupati Fincorp to review September quarter results
Nov 10,2016

Tirupati Fincorp announced that the a meeting of the Board of Directors of the Company will be held on 14 November 2016, inter alia, to consider and approve the unaudited Financial Results along with the Limited Review Report of the Company for the quarter ended 30 September 2016.

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Board of Genus Power Infrastructures to consider September quarter results
Nov 10,2016

Genus Power Infrastructures announced that a meeting of the Board of Directors of the Company will be held on 26 November 2016, inter alia, to consider, approve and take on record the Unaudited Financial Results for the quarter and half-year ended 30 September 2016.

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Rupee retreats
Nov 10,2016

Rupee closed lower at 66.6079/6230 per dollar on Thursday (10 November 2016), versus its previous close of 66.4250/4350 per dollar.

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Camlin Fine Sciences reports consolidated net loss of Rs 0.80 crore in the September 2016 quarter
Nov 10,2016

Net loss of Camlin Fine Sciences reported to Rs 0.80 crore in the quarter ended September 2016 as against net profit of Rs 5.06 crore during the previous quarter ended September 2015. Sales declined 3.97% to Rs 109.14 crore in the quarter ended September 2016 as against Rs 113.65 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales109.14113.65 -4 OPM %16.3918.32 - PBDT10.7816.73 -36 PBT5.3112.57 -58 NP-0.805.06 PL

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Virat Industries standalone net profit declines 25.51% in the September 2016 quarter
Nov 10,2016

Net profit of Virat Industries declined 25.51% to Rs 0.73 crore in the quarter ended September 2016 as against Rs 0.98 crore during the previous quarter ended September 2015. Sales declined 17.44% to Rs 5.68 crore in the quarter ended September 2016 as against Rs 6.88 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales5.686.88 -17 OPM %19.1923.69 - PBDT1.271.75 -27 PBT1.001.47 -32 NP0.730.98 -26

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Shreyas Shipping & Logistics consolidated net profit declines 78.30% in the September 2016 quarter
Nov 10,2016

Net profit of Shreyas Shipping & Logistics declined 78.30% to Rs 3.24 crore in the quarter ended September 2016 as against Rs 14.93 crore during the previous quarter ended September 2015. Sales rose 27.80% to Rs 175.87 crore in the quarter ended September 2016 as against Rs 137.61 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales175.87137.61 28 OPM %6.6216.48 - PBDT10.1919.52 -48 PBT4.6416.15 -71 NP3.2414.93 -78

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Sun Pharmaceuticals Industries consolidated net profit rises 117.25% in the September 2016 quarter
Nov 10,2016

Net profit of Sun Pharmaceuticals Industries rose 117.25% to Rs 2235.14 crore in the quarter ended September 2016 as against Rs 1028.82 crore during the previous quarter ended September 2015. Sales rose 13.21% to Rs 7764.03 crore in the quarter ended September 2016 as against Rs 6858.16 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales7764.036858.16 13 OPM %40.8027.31 - PBDT3233.371830.00 77 PBT2929.541571.57 86 NP2235.141028.82 117

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Chankya Investments reports standalone nil net profit/loss in the September 2016 quarter
Nov 10,2016

Chankya Investments reported no net profit/loss in the quarter ended September 2016 and 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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Eros International Media consolidated net profit declines 32.87% in the September 2016 quarter
Nov 10,2016

Net profit of Eros International Media declined 32.87% to Rs 62.99 crore in the quarter ended September 2016 as against Rs 93.83 crore during the previous quarter ended September 2015. Sales declined 5.17% to Rs 478.79 crore in the quarter ended September 2016 as against Rs 504.91 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales478.79504.91 -5 OPM %18.6326.94 - PBDT88.50130.48 -32 PBT86.49128.26 -33 NP62.9993.83 -33

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Minda Industries consolidated net profit rises 47.37% in the September 2016 quarter
Nov 10,2016

Net profit of Minda Industries rose 47.37% to Rs 38.42 crore in the quarter ended September 2016 as against Rs 26.07 crore during the previous quarter ended September 2015. Sales rose 39.71% to Rs 901.20 crore in the quarter ended September 2016 as against Rs 645.05 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales901.20645.05 40 OPM %10.349.79 - PBDT87.1859.59 46 PBT52.7735.06 51 NP38.4226.07 47

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Stylam Industries standalone net profit rises 92.42% in the September 2016 quarter
Nov 10,2016

Net profit of Stylam Industries rose 92.42% to Rs 5.08 crore in the quarter ended September 2016 as against Rs 2.64 crore during the previous quarter ended September 2015. Sales rose 22.85% to Rs 74.02 crore in the quarter ended September 2016 as against Rs 60.25 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales74.0260.25 23 OPM %15.1912.33 - PBDT9.255.74 61 PBT7.934.57 74 NP5.082.64 92

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