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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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Board of Mahindra & Mahindra recommends final dividend
Apr 27,2017

Mahindra & Mahindra announced that the Board of Directors of the Company at its meeting held on 25 April 2017, inter alia, have recommended the final dividend of Rs 2.4 per equity Share (i.e. 120%) , subject to the approval of the shareholders.

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Mahindra & Mahindra to hold AGM
Apr 27,2017

Mahindra & Mahindra announced that the 27th Annual General Meeting (AGM) of the company will be held on 24 July 2017.

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Board of GIC Housing Finance recommends final dividend
Apr 27,2017

GIC Housing Finance announced that the Board of Directors of the Company at its meeting held on 26 April 2017, inter alia, have recommended the final dividend of Rs 5 per equity Share (i.e. 50%) , subject to the approval of the shareholders.

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Board of Tata Sponge Iron recommends final dividend
Apr 27,2017

Tata Sponge Iron announced that the Board of Directors of the Company at its meeting held on 26 April 2017, inter alia, have recommended the final dividend of Rs 11 per equity Share (i.e. 110%) , subject to the approval of the shareholders.

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Kushal Tradelink to hold board meeting
Apr 27,2017

Kushal Tradelink will hold a meeting of the Board of Directors of the Company on 1 May 2017 Others

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An additional annual production capacity of 75 LMT would be created making India self-reliant in meeting the annual domestic demand of fertilizer
Apr 27,2017

The revival of the fertilizer projects, Gorakhpur, Barauni, Sindri and Talcher, an additional annual production capacity of 75 LMT would be created making India self-reliant in meeting the annual domestic demand of around 320 LMT, from being a net importer currently. Financial allocations and the ground level work would start in 2017 and the five plants would become fully functional by 2020-21, said Union Minister for Chemicals & Fertilizers and Parliamentary Affairs, Shri Ananthkumar. He presided over a Joint review meeting on revival plans for closed fertilizer projects under Ministry of Chemicals and Fertilizers.

Shri Kumar said that for realising Prime Minister Shri Narendra Modis vision of Fertilizer Security for Food Security, the Ministry of Chemicals & Fertilizers, in coordination with Ministries of Petroleum & Natural Gas and Power & Coal, is following a two-pronged strategy. This strategy includes existing fertilizer capacity augmentation by increasing the efficiency of the plants and revival of closed fertilizer projects. Shri Kumar mentioned that there has been highest ever production of urea, 245 LMT, in the country in the previous year without incurring any additional cost and utilising the existing capacity. He further mentioned that the 100% Neem Coating Urea has increased the per granule efficiency of urea by decreasing demand by 10% and increasing the yield by 10%.

Ministry of Petroleum & Natural Gas in the revival plan, Shri Dharmendra Pradhan said that a massive investment to the tune of Rs. 50,000 crores is being undertaken for revival of closed fertilizer plants and setting up of gas pipeline network to connect Eastern India to the National Gas Grid. Production from these four major Fertilizer plants will ensure enhanced domestic fertilizer production and availability which will give an impetus to the vital agricultural sector there by aiding the Second Green Revolution, he added.

Shri Pradhan informed that the progress of the construction of the pipeline network in eastern India, including the 2,650 km Jagdishpur-Haldia & Bokaro-Dhamra Natural Gas Pipeline, popularly known as Pradhan Mantri Urja Ganga, and the 50 LMT Dhamra LNG terminal was reviewed in the meeting. A total investment of Rs. 13,000 crores for the pipeline and of Rs 6,000 crores for Dhamra LNG terminal is going to be undertaken, he added.

The Minister said that this pipeline network would provide uninterrupted feedstock linkage to the revived fertilizer plants, wherein Gorakhpur, Barauni and Sindri plants would be natural gas based and Talcher would be coal gasification technology based, for which coal linkages have already been provided. Shri Pradhan added that the foundation stones for the five fertilizer plants would be laid down post monsoon this year and would be completed by 2020-21.

The Talcher Unit is being revived by a consortium of PSUs namely Rashtriya Chemicals & Fertilizers (RCF), Gas Authority of India (GAIL), Coal India Ltd. (CIL) and FCIL by investing Rs. 8,000 crores. Indian Oil Corporation Ltd. (IOCL), CIL & National Thermal Power Corporation (NTPC) have registered a Special Purpose Vehicle (SPV) by name Hindustan Urvarak & Rasayan Limited (HURL) for revival of closed urea plants of FCIL at Gorakhpur and Sindri and of Hindustan Fertilizer Corporation of India Ltd. (HFCL) at Barauni, by an investment of Rs. 20,000 crores. An Inter-Ministerial Committee (IMC) has also been constituted to oversee the revival process.

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Rupee falls
Apr 27,2017

Rupee closed flat at 64.3925/3950 per dollar on Thursday (27 April 2017), versus its previous close of 64.0225/0250 per dollar.

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Tata Elxsi standalone net profit rises 8.30% in the March 2017 quarter
Apr 27,2017

Net profit of Tata Elxsi rose 8.30% to Rs 44.50 crore in the quarter ended March 2017 as against Rs 41.09 crore during the previous quarter ended March 2016. Sales rose 10.92% to Rs 326.05 crore in the quarter ended March 2017 as against Rs 293.95 crore during the previous quarter ended March 2016.

For the full year,net profit rose 11.94% to Rs 173.29 crore in the year ended March 2017 as against Rs 154.81 crore during the previous year ended March 2016. Sales rose 14.68% to Rs 1233.04 crore in the year ended March 2017 as against Rs 1075.21 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales326.05293.95 11 1233.041075.21 15 OPM %23.2422.85 -23.7822.98 - PBDT73.6867.78 9 288.42258.94 11 PBT66.8661.85 8 261.50236.34 11 NP44.5041.09 8 173.29154.81 12

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Kotak Mahindra Bank consolidated net profit rises 33.08% in the March 2017 quarter
Apr 27,2017

Net profit of Kotak Mahindra Bank rose 33.08% to Rs 1404.34 crore in the quarter ended March 2017 as against Rs 1055.23 crore during the previous quarter ended March 2016. Total Operating Income rose 6.34% to Rs 5654.76 crore in the quarter ended March 2017 as against Rs 5317.46 crore during the previous quarter ended March 2016.

For the full year,net profit rose 42.83% to Rs 4940.43 crore in the year ended March 2017 as against Rs 3458.85 crore during the previous year ended March 2016. Total Operating Income rose 9.42% to Rs 22324.21 crore in the year ended March 2017 as against Rs 20401.64 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Total Operating Income5654.765317.46 6 22324.2120401.64 9 OPM %11.0334.69 -33.9143.71 - PBDT2033.681524.64 33 7069.104976.46 42 PBT1942.141436.47 35 6706.894631.95 45 NP1404.341055.23 33 4940.433458.85 43

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Maruti Suzuki India standalone net profit rises 15.77% in the March 2017 quarter
Apr 27,2017

Net profit of Maruti Suzuki India rose 15.77% to Rs 1709.00 crore in the quarter ended March 2017 as against Rs 1476.20 crore during the previous quarter ended March 2016. Sales rose 20.32% to Rs 18005.20 crore in the quarter ended March 2017 as against Rs 14964.70 crore during the previous quarter ended March 2016.

For the full year,net profit rose 36.79% to Rs 7337.70 crore in the year ended March 2017 as against Rs 5364.30 crore during the previous year ended March 2016. Sales rose 18.55% to Rs 66909.40 crore in the year ended March 2017 as against Rs 56441.20 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales18005.2014964.70 20 66909.4056441.20 19 OPM %14.2215.57 -15.4715.74 - PBDT2983.002847.40 5 12543.4010263.90 22 PBT2282.002087.50 9 9941.307443.70 34 NP1709.001476.20 16 7337.705364.30 37

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Libord Finance reports standalone net loss of Rs 0.11 crore in the March 2017 quarter
Apr 27,2017

Net Loss of Libord Finance reported to Rs 0.11 crore in the quarter ended March 2017 as against net loss of Rs 0.03 crore during the previous quarter ended March 2016. Sales rose 60.00% to Rs 0.16 crore in the quarter ended March 2017 as against Rs 0.10 crore during the previous quarter ended March 2016.

For the full year,net profit declined 76.92% to Rs 0.06 crore in the year ended March 2017 as against Rs 0.26 crore during the previous year ended March 2016. Sales declined 12.50% to Rs 0.77 crore in the year ended March 2017 as against Rs 0.88 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales0.160.10 60 0.770.88 -13 OPM %-43.75-90.00 --5.1931.82 - PBDT-0.10-0.02 -400 0.090.36 -75 PBT-0.11-0.03 -267 0.070.34 -79 NP-0.11-0.03 -267 0.060.26 -77

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Kotak Mahindra Bank standalone net profit rises 40.34% in the March 2017 quarter
Apr 27,2017

Net profit of Kotak Mahindra Bank rose 40.34% to Rs 976.48 crore in the quarter ended March 2017 as against Rs 695.78 crore during the previous quarter ended March 2016. Total Operating Income rose 3.91% to Rs 4432.00 crore in the quarter ended March 2017 as against Rs 4265.41 crore during the previous quarter ended March 2016.

For the full year,net profit rose 58.46% to Rs 3311.50 crore in the year ended March 2017 as against Rs 2089.78 crore during the previous year ended March 2016. Total Operating Income rose 8.02% to Rs 17698.93 crore in the year ended March 2017 as against Rs 16384.19 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Total Operating Income4432.004265.41 4 17698.9316384.19 8 OPM %60.9863.77 -62.9661.01 - PBDT1434.63993.74 44 5048.073123.72 62 PBT1434.63993.74 44 5048.073123.72 62 NP976.48695.78 40 3311.502089.78 58

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Shriram Transport Finance Company standalone net profit rises 3.97% in the March 2017 quarter
Apr 27,2017

Net profit of Shriram Transport Finance Company rose 3.97% to Rs 149.63 crore in the quarter ended March 2017 as against Rs 143.92 crore during the previous quarter ended March 2016. Sales declined 7.43% to Rs 2711.92 crore in the quarter ended March 2017 as against Rs 2929.45 crore during the previous quarter ended March 2016.

For the full year,net profit rose 6.72% to Rs 1257.34 crore in the year ended March 2017 as against Rs 1178.20 crore during the previous year ended March 2016. Sales rose 5.27% to Rs 10828.75 crore in the year ended March 2017 as against Rs 10287.12 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales2711.922929.45 -7 10828.7510287.12 5 OPM %55.5456.94 -65.9766.78 - PBDT238.95226.38 6 1957.831817.74 8 PBT230.97217.22 6 1923.921781.43 8 NP149.63143.92 4 1257.341178.20 7

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Hil standalone net profit rises 30.51% in the March 2017 quarter
Apr 27,2017

Net profit of Hil rose 30.51% to Rs 5.86 crore in the quarter ended March 2017 as against Rs 4.49 crore during the previous quarter ended March 2016. Sales declined 0.85% to Rs 257.06 crore in the quarter ended March 2017 as against Rs 259.26 crore during the previous quarter ended March 2016.

For the full year,net profit rose 37.59% to Rs 54.57 crore in the year ended March 2017 as against Rs 39.66 crore during the previous year ended March 2016. Sales declined 3.89% to Rs 1053.59 crore in the year ended March 2017 as against Rs 1096.27 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales257.06259.26 -1 1053.591096.27 -4 OPM %6.287.72 -10.349.62 - PBDT17.0319.05 -11 121.26102.55 18 PBT6.478.06 -20 80.3162.81 28 NP5.864.49 31 54.5739.66 38

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Menon Bearings standalone net profit rises 36.56% in the March 2017 quarter
Apr 27,2017

Net profit of Menon Bearings rose 36.56% to Rs 5.79 crore in the quarter ended March 2017 as against Rs 4.24 crore during the previous quarter ended March 2016. Sales rose 7.74% to Rs 31.74 crore in the quarter ended March 2017 as against Rs 29.46 crore during the previous quarter ended March 2016.

For the full year,net profit rose 29.21% to Rs 19.24 crore in the year ended March 2017 as against Rs 14.89 crore during the previous year ended March 2016. Sales rose 10.77% to Rs 122.79 crore in the year ended March 2017 as against Rs 110.85 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales31.7429.46 8 122.79110.85 11 OPM %25.6128.41 -26.6125.77 - PBDT8.008.24 -3 32.8127.90 18 PBT7.117.04 1 27.6823.33 19 NP5.794.24 37 19.2414.89 29

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