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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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Westlife Development reports consolidated net loss of Rs 1.71 crore in the December 2016 quarter
Feb 03,2017

Net loss of Westlife Development reported to Rs 1.71 crore in the quarter ended December 2016 as against net profit of Rs 0.23 crore during the previous quarter ended December 2015. Sales rose 13.20% to Rs 238.04 crore in the quarter ended December 2016 as against Rs 210.28 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales238.04210.28 13 OPM %5.907.06 - PBDT14.3114.44 -1 PBT-1.710.25 PL NP-1.710.23 PL

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Board of Norris Medicines appoints company secretary
Feb 03,2017

The Board of Directors of Norris Medicines at its meeting held on 03 February 2017 has approved appointment of Vinay Rana as Company Secretary and Compliance Officer with immediate effect.

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Board of Triton Valves appoints director
Feb 03,2017

Triton Valves announced that the Board of Directors of the Company at their meeting held on 03 February 2017 approved the appointment of Tamhant Jain as Independent Director with immediate effect subject to approval of shareholder in upcoming AGM.

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Board of Abhijit Trading Company accepts resignation of company secretary
Feb 03,2017

Abhijit Trading Company announced that the Board of Directors of the Company at its meeting held on 03 February 2017, inter alia, has considered and approved the following:

- The Board accepted the resignation of Vipul Kumar from the post of Company Secretary w.e.f. 09 January 2017.

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Outcome of board meeting of Vivid Global Industries
Feb 03,2017

Vivid Global Industries announced that the Board of Directors at its meeting held on 03 February 2017 has approved the following -

Proposal to produce new quality of speciality chemicals grade Tobias Acid 98% mainly applied for pigment dyes industry with a capacity of 180 MTPA which would commence from beginning of March 2017.

Increase in present capacity of existing production of Tobias Acid and Sulpho Tobias Acid from 65-70 MT per month to 85-90 MT per month by begining of March 2017.

Has dropped the proposal to allot equity shares on preferential basis.

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Gothi Plascon (India) appoints company secretary
Feb 03,2017

Gothi Plascon (India) announced that Megha Somani has been appointed as the Company Secretary of the Company with effect from 01 February 2017.

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PTC India announces appointment of nominee director
Feb 03,2017

PTC India announced that C. Gangopadhyay, has been appointed as Nominee Director of Power Finance Corporation (PFC) on the Board of PTC India w.e.f. 01 February 2017.

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Board of Mayur Uniquoters declares dividend
Feb 03,2017

Mayur Uniquoters announced that the Board of Directors of the Company in their meeting held on 03 February 2017, inter alia transacted the following matter:

- Declared Third interim Dividend @ 5% i.e., Rs. 0.25/- per equity share of Rs. 5/- each for the financial year 2016-17.

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Selan Explorations Technology fixes record date for interim dividend
Feb 03,2017

Selan Explorations Technology has fixed 18 February 2017 as the Record Date for the purpose of Payment of Interim Dividend, if declared.

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Rupee closes the week with gain
Feb 03,2017

Rupee closed higher on Friday (03 February 2017) at 67.31/32 per dollar, versus its previous close of 67.3675/3775 per dollar.

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Globe Industrial Resources reports standalone net profit of Rs 0.01 crore in the December 2016 quarter
Feb 03,2017

Net profit of Globe Industrial Resources remain constant at Rs 0.01 crore in the quarter ended December 2016 and also during the previous quarter ended December 2015. Sales rose 80.00% to Rs 0.09 crore in the quarter ended December 2016 as against Rs 0.05 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales0.090.05 80 OPM %11.1120.00 - PBDT0.010.01 0 PBT0.010.01 0 NP0.010.01 0

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Vardhman Special Steels standalone net profit rises 16.72% in the December 2016 quarter
Feb 03,2017

Net profit of Vardhman Special Steels rose 16.72% to Rs 3.70 crore in the quarter ended December 2016 as against Rs 3.17 crore during the previous quarter ended December 2015. Sales rose 5.53% to Rs 172.13 crore in the quarter ended December 2016 as against Rs 163.11 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales172.13163.11 6 OPM %8.478.16 - PBDT8.257.49 10 PBT3.703.17 17 NP3.703.17 17

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Vinayak Vanijya reports standalone net loss of Rs 0.01 crore in the December 2016 quarter
Feb 03,2017

Net loss of Vinayak Vanijya reported to Rs 0.01 crore in the quarter ended December 2016 as against net profit of Rs 0.01 crore during the previous quarter ended December 2015. There were no Sales reported in the quarter ended December 2016 as against Rs 0.01 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales00.01 -100 OPM %0100.00 - PBDT-0.010.01 PL PBT-0.010.01 PL NP-0.010.01 PL

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Sonata Software standalone net profit rises 25.31% in the December 2016 quarter
Feb 03,2017

Net profit of Sonata Software rose 25.31% to Rs 37.18 crore in the quarter ended December 2016 as against Rs 29.67 crore during the previous quarter ended December 2015. Sales rose 19.30% to Rs 148.60 crore in the quarter ended December 2016 as against Rs 124.56 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales148.60124.56 19 OPM %30.3427.70 - PBDT50.6140.82 24 PBT49.4539.77 24 NP37.1829.67 25

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Safal Securities reports standalone net loss of Rs 0.03 crore in the December 2016 quarter
Feb 03,2017

Net Loss of Safal Securities reported to Rs 0.03 crore in the quarter ended December 2016 as against net loss of Rs 0.74 crore during the previous quarter ended December 2015. There were no Sales reported in the quarter ended December 2016 as against Rs 0.76 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales00.76 -100 OPM %0-97.37 - PBDT-0.03-0.74 96 PBT-0.03-0.74 96 NP-0.03-0.74 96

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