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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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PTC Industries announces change in directorate
Nov 11,2016

PTC Industries announced that the Board of Directors of the Company at its meeting held on 11 November 2016 has re-designated Sachin Agarwal, MD as Chairman & MD with effect from 11 November 2016 on sad demise of Satish Chandra Agarwal, Chairman of the Company on 07 October 2016.

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Bronze Trading announces change in registered office
Nov 11,2016

Bronze Trading announced that the Registered office of the Company has Shifted from SCO 2, Madhya Marg, Sector 26, Chandigarh - 160019 to 12/2, Ajanta Commercial Centre, A wing, 4th Floor, Income Tax, Ahmedabad - 380014.

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Tata Teleservices (Maharashtra) announces total subscriber numbers
Nov 11,2016

Tata Teleservices (Maharashtra) reported total subscribers at 96,06,900 as on 31 October 2016. These included 34,18,954 subscribers in Mumbai and 63,87,946 subscribers in Maharashtra.

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North Eastern Carrying Corporation consolidated net profit rises 3.03% in the September 2016 quarter
Nov 11,2016

Net profit of North Eastern Carrying Corporation rose 3.03% to Rs 1.70 crore in the quarter ended September 2016 as against Rs 1.65 crore during the previous quarter ended September 2015. Sales declined 3.07% to Rs 124.24 crore in the quarter ended September 2016 as against Rs 128.18 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales124.24128.18 -3 OPM %3.713.87 - PBDT3.123.30 -5 PBT2.502.41 4 NP1.701.65 3

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Zenith Exports director resigns
Nov 11,2016

Zenith Exports announced that Raj Kumar Loyalka has been resigned from the post of Director of the Company, w.e.f. 10 November 2016.

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Lovable Lingerie standalone net profit rises 5.01% in the September 2016 quarter
Nov 11,2016

Net profit of Lovable Lingerie rose 5.01% to Rs 4.61 crore in the quarter ended September 2016 as against Rs 4.39 crore during the previous quarter ended September 2015. Sales rose 10.80% to Rs 53.25 crore in the quarter ended September 2016 as against Rs 48.06 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales53.2548.06 11 OPM %8.9415.56 - PBDT5.637.44 -24 PBT4.896.79 -28 NP4.614.39 5

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Gayatri BioOrganics reports standalone net loss of Rs 19.95 crore in the September 2016 quarter
Nov 11,2016

Net loss of Gayatri BioOrganics reported to Rs 19.95 crore in the quarter ended September 2016 as against net profit of Rs 0.28 crore during the previous quarter ended September 2015. Sales declined 71.53% to Rs 7.35 crore in the quarter ended September 2016 as against Rs 25.82 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales7.3525.82 -72 OPM %-8.7113.94 - PBDT-2.560.81 PL PBT-3.090.28 PL NP-19.950.28 PL

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Shristi Infrastructure Development Corporation standalone net profit declines 30.16% in the September 2016 quarter
Nov 11,2016

Net profit of Shristi Infrastructure Development Corporation declined 30.16% to Rs 0.44 crore in the quarter ended September 2016 as against Rs 0.63 crore during the previous quarter ended September 2015. Sales rose 8.40% to Rs 22.84 crore in the quarter ended September 2016 as against Rs 21.07 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales22.8421.07 8 OPM %41.9022.78 - PBDT0.710.95 -25 PBT0.650.93 -30 NP0.440.63 -30

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Sagar Productions reports standalone net profit of Rs 0.04 crore in the September 2016 quarter
Nov 11,2016

Net profit of Sagar Productions reported to Rs 0.04 crore in the quarter ended September 2016 as against net loss of Rs 0.02 crore during the previous quarter ended September 2015. Sales reported to Rs 1.65 crore in the quarter ended September 2016. There were no Sales reported during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales1.650 0 OPM %2.420 - PBDT0.04-0.02 LP PBT0.04-0.02 LP NP0.04-0.02 LP

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PG Foils standalone net profit declines 61.53% in the September 2016 quarter
Nov 11,2016

Net profit of PG Foils declined 61.53% to Rs 4.69 crore in the quarter ended September 2016 as against Rs 12.19 crore during the previous quarter ended September 2015. Sales rose 16.78% to Rs 57.15 crore in the quarter ended September 2016 as against Rs 48.94 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales57.1548.94 17 OPM %10.347.62 - PBDT7.293.64 100 PBT6.142.99 105 NP4.6912.19 -62

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Kovai Medical Center & Hospital standalone net profit rises 59.42% in the September 2016 quarter
Nov 11,2016

Net profit of Kovai Medical Center & Hospital rose 59.42% to Rs 17.01 crore in the quarter ended September 2016 as against Rs 10.67 crore during the previous quarter ended September 2015. Sales rose 17.16% to Rs 136.36 crore in the quarter ended September 2016 as against Rs 116.39 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales136.36116.39 17 OPM %24.4820.59 - PBDT32.0021.75 47 PBT26.1716.71 57 NP17.0110.67 59

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Outcome of board meetin of Gujarat Alkalies & Chemicals
Nov 11,2016

Gujarat Alkalies & Chemicals announced that the Board of Directors of the Company at its meeting held on 10 November 2016 has considered the revised Draft Project Report due to change in location of the project to D -II/9, Dahej and approved the establishment of a 266667 MTPA Caustic Soda Plant along with 130 ME Captive Power plant at a revised project cost of Rs 1936.90 crore. The Board also approved the setting up of caustic pumping and transfer facility along with procurement of wagons under Liberalised Wagon Investment Scheme of India Railways for transportation of Caustic Soda to Nalco-Damanjodi site at a total cost of Rs 62.70 crore in the JV Company. Thus, the total cost of the project would be 1999.60 crore.

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Outcome of board meeting of Gujarat Alkalies & Chemicals
Nov 11,2016

Gujarat Alkalies & Chemicals announced that the Board of Directors of the Company at its meeting held on 10 November 2016 has considered the revised Draft Project Report due to change in location of the project to D -II/9, Dahej and approved the establishment of a 266667 MTPA Caustic Soda Plant along with 130 ME Captive Power plant at a revised project cost of Rs 1936.90 crore. The Board also approved the setting up of caustic pumping and transfer facility along with procurement of wagons under Liberalised Wagon Investment Scheme of India Railways for transportation of Caustic Soda to Nalco-Damanjodi site at a total cost of Rs 62.70 crore in the JV Company. Thus, the total cost of the project would be 1999.60 crore.

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Board of Gujarat Alkalies & Chemicals approves to put up solar power plant
Nov 11,2016

Gujarat Alkalies & Chemicals announced that the Board of Directors of the Company at its meeting held on 10 November 2016 has approved to put up a 15 MW Solar Power Plant on EPC basis at an estimated project cost of Rs. 100 crore.

The project cost shall be funded from internal accruals / surplus generated from internal operations and need based gap, if any, shall be met from External Commercial Borrowings (ECB) or Rupee Term Loans.

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Sanguine Media announces change in registered office
Nov 11,2016

Sanguine Media announced that the Company has changed its registered office address From - Plaza Center Suit No.329, No. 129, G.N. Chetty Road, Chennai, Tamil Nadu - 600 006 To - Plaza Center, 4th Floor, Suit No. 349, No. 129, G.N Chetty Road, Chennai, Tamil Nadu - 600006.

The Companys new Telephone number is +91 044 - 28231258

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