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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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Cipla allots 39,601 equity shares
Apr 26,2017

Cipla has allotted 39,601 equity shares of Rs 2 each under ESOS. Consequently, the issued share capital has increased to 80,55,53,070 equity shares of Rs 2 each and paid up and subscribed share capital has increased to Rs 80,45,49,675 equity shares of Rs 2 each.

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Uni Abex Alloy Products director resigns
Apr 26,2017

Uni Abex Alloy Products has received an intimation from K M Elavia, Independent Director of the Company, that he has stepped down from the Board and its committees with effect from 25 April 2017.

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Vikas Ecotech announces resignation of director
Apr 26,2017

Vikas Ecotech announced that Purushottam Dass Bhoot, Chairman cum Independent Director of the Company has resigned from directorship and chairmanship of the Company w.e.f 25 April 2017.

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Escorts Finance appoints director
Apr 26,2017

Escorts Finance announced that Pritam Narang has been appointed as the Whole-Time Director of the Company for a period of 5 years (26 April 2017 to 25 April 2022) in the Board Meeting of the Company held on 26 April 2017.

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Future Enterprises allots NCDs aggregating Rs 45 crore
Apr 26,2017

Future Enterprises has allotted 450, 9.28% Secured Redeemable Non-Convertible Debentures (NCDs) of Rs. 10 lakh each (NCD Series XVII - A) aggregating to Rs.45 crore, on private placement basis.

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Sterlite Technologies standalone net profit declines 10.12% in the March 2017 quarter
Apr 26,2017

Net profit of Sterlite Technologies declined 10.12% to Rs 49.71 crore in the quarter ended March 2017 as against Rs 55.31 crore during the previous quarter ended March 2016. Sales rose 10.57% to Rs 636.15 crore in the quarter ended March 2017 as against Rs 575.32 crore during the previous quarter ended March 2016.

For the full year,net profit declined 22.42% to Rs 140.74 crore in the year ended March 2017 as against Rs 181.42 crore during the previous year ended March 2016. Sales rose 11.28% to Rs 2256.38 crore in the year ended March 2017 as against Rs 2027.72 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales636.15575.32 11 2256.382027.72 11 OPM %20.2721.31 -18.6021.30 - PBDT112.88105.16 7 336.47354.63 -5 PBT74.1571.83 3 197.98247.61 -20 NP49.7155.31 -10 140.74181.42 -22

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Suraj standalone net profit declines 97.41% in the March 2017 quarter
Apr 26,2017

Net profit of Suraj declined 97.41% to Rs 0.03 crore in the quarter ended March 2017 as against Rs 1.16 crore during the previous quarter ended March 2016. Sales rose 18.06% to Rs 45.50 crore in the quarter ended March 2017 as against Rs 38.54 crore during the previous quarter ended March 2016.

For the full year,net profit rose 10.26% to Rs 0.43 crore in the year ended March 2017 as against Rs 0.39 crore during the previous year ended March 2016. Sales rose 24.58% to Rs 189.33 crore in the year ended March 2017 as against Rs 151.97 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales45.5038.54 18 189.33151.97 25 OPM %12.4010.90 -8.4510.87 - PBDT3.022.28 32 6.987.56 -8 PBT0.250.98 -74 0.700.51 37 NP0.031.16 -97 0.430.39 10

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Dhruv Estates reports standalone net profit of Rs 0.01 crore in the March 2017 quarter
Apr 26,2017

Net profit of Dhruv Estates remain constant at Rs 0.01 crore in the quarter ended March 2017 and also during the previous quarter ended March 2016. There were no Sales reported in the quarter ended March 2017 and during the previous quarter ended March 2016.

For the full year,net profit remain constant at Rs 0.01 crore in the year ended March 2017 and also during the previous year ended March 2016. There were no Sales reported in the year ended March 2017 and during the previous year ended March 2016.

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Tata Sponge Iron consolidated net profit rises 62.08% in the March 2017 quarter
Apr 26,2017

Net profit of Tata Sponge Iron rose 62.08% to Rs 21.20 crore in the quarter ended March 2017 as against Rs 13.08 crore during the previous quarter ended March 2016. Sales rose 19.08% to Rs 167.17 crore in the quarter ended March 2017 as against Rs 140.39 crore during the previous quarter ended March 2016.

For the full year,net profit rose 84.00% to Rs 58.77 crore in the year ended March 2017 as against Rs 31.94 crore during the previous year ended March 2016. Sales declined 2.83% to Rs 557.31 crore in the year ended March 2017 as against Rs 573.53 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales167.17140.39 19 557.31573.53 -3 OPM %15.4310.77 -11.064.18 - PBDT34.9722.39 56 96.2756.30 71 PBT31.7519.33 64 83.5043.40 92 NP21.2013.08 62 58.7731.94 84

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LKP Securities reports standalone net profit of Rs 3.32 crore in the March 2017 quarter
Apr 26,2017

Net profit of LKP Securities reported to Rs 3.32 crore in the quarter ended March 2017 as against net loss of Rs 2.29 crore during the previous quarter ended March 2016. Sales rose 7.66% to Rs 16.17 crore in the quarter ended March 2017 as against Rs 15.02 crore during the previous quarter ended March 2016.

For the full year,net profit reported to Rs 2.33 crore in the year ended March 2017 as against net loss of Rs 1.43 crore during the previous year ended March 2016. Sales rose 12.49% to Rs 63.41 crore in the year ended March 2017 as against Rs 56.37 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales16.1715.02 8 63.4156.37 12 OPM %3.151.40 -9.153.02 - PBDT3.91-1.94 LP 3.740.21 1681 PBT3.60-2.29 LP 2.48-1.15 LP NP3.32-2.29 LP 2.33-1.43 LP

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Integra Capital Management standalone net profit rises 20.00% in the March 2017 quarter
Apr 26,2017

Net profit of Integra Capital Management rose 20.00% to Rs 0.06 crore in the quarter ended March 2017 as against Rs 0.05 crore during the previous quarter ended March 2016. Sales rose 2566.67% to Rs 0.80 crore in the quarter ended March 2017 as against Rs 0.03 crore during the previous quarter ended March 2016.

For the full year,net profit rose 75.00% to Rs 0.14 crore in the year ended March 2017 as against Rs 0.08 crore during the previous year ended March 2016. Sales rose 95.08% to Rs 1.19 crore in the year ended March 2017 as against Rs 0.61 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales0.800.03 2567 1.190.61 95 OPM %-1.25-100.00 --12.61-22.95 - PBDT0.060.05 20 0.140.11 27 PBT0.060.05 20 0.140.11 27 NP0.060.05 20 0.140.08 75

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Vishvprabha Trading reports standalone nil net profit/loss in the March 2017 quarter
Apr 26,2017

Vishvprabha Trading reported no net profit/loss in the quarter ended March 2017 as against net loss of Rs 0.01 crore during the previous quarter ended March 2016. There were no Sales reported in the quarter ended March 2017 and during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 0.04 crore in the year ended March 2017 as against net loss of Rs 0.04 crore during the previous year ended March 2016. There were no Sales reported in the year ended March 2017 and during the previous year ended March 2016.

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Apple Credit Corporation reports standalone net loss of Rs 0.22 crore in the March 2017 quarter
Apr 26,2017

Net Loss of Apple Credit Corporation reported to Rs 0.22 crore in the quarter ended March 2017 as against net loss of Rs 0.09 crore during the previous quarter ended March 2016. There were no Sales reported in the quarter ended March 2017 and during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 0.30 crore in the year ended March 2017 as against net loss of Rs 0.47 crore during the previous year ended March 2016. There were no Sales reported in the year ended March 2017 and during the previous year ended March 2016.

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KSB Pumps standalone net profit declines 20.83% in the March 2017 quarter
Apr 26,2017

Net profit of KSB Pumps declined 20.83% to Rs 13.34 crore in the quarter ended March 2017 as against Rs 16.85 crore during the previous quarter ended March 2016. Sales declined 2.23% to Rs 205.42 crore in the quarter ended March 2017 as against Rs 210.10 crore during the previous quarter ended March 2016.

ParticularsQuarter Endedn++Mar. 2017Mar. 2016% Var. Sales205.42210.10 -2 OPM %9.8812.68 - PBDT27.7133.65 -18 PBT20.3426.52 -23 NP13.3416.85 -21

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Tata Sponge Iron standalone net profit rises 62.20% in the March 2017 quarter
Apr 26,2017

Net profit of Tata Sponge Iron rose 62.20% to Rs 21.20 crore in the quarter ended March 2017 as against Rs 13.07 crore during the previous quarter ended March 2016. Sales rose 19.08% to Rs 167.17 crore in the quarter ended March 2017 as against Rs 140.39 crore during the previous quarter ended March 2016.

For the full year,net profit rose 84.20% to Rs 58.74 crore in the year ended March 2017 as against Rs 31.89 crore during the previous year ended March 2016. Sales declined 2.83% to Rs 557.31 crore in the year ended March 2017 as against Rs 573.53 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales167.17140.39 19 557.31573.53 -3 OPM %15.4310.78 -11.064.18 - PBDT34.9722.38 56 96.2456.25 71 PBT31.7519.32 64 83.4743.35 93 NP21.2013.07 62 58.7431.89 84

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