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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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Tata Power Company provides update on Tata Power Renewable Energy
Feb 23,2017

Tata Power Company announced that its subsidiary, Tata Power Renewable Energy, has synchronised its 15 MW solar plant at Belampally in Telangana, thereby starting its commercial operations. The project has been won by TRPEL in phase 1 bidding process in Telangana. With this development, Tata Powers total installed operating capacity has crossed 10,500 MW mark.

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Akme Star Housing Finance fixes record date for bonus issue
Feb 23,2017

Akme Star Housing Finance has fixed 08 March 2017 as the record date for the issuance of Bonus Shares by capitalizing the Securities Premium Account, to the extent that the holder of 1 Equity Share of the Company shall be entitled to 1 Bonus Equity Share (i.e. in the ratio of 1:1).

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Indiabulls Ventures allots 8,90,518 equity shares
Feb 23,2017

Indiabulls Ventures announced that on 23 February 2017, Indiabulls Ventures (formerly Indiabulls Securities) (n++the Companyn++), has issued and allotted 8,90,518 (Eight Lac Ninety Thousand Five Hundred Eighteen) Equity shares of face value Rs. 2/- each, to eligible employees upon exercise of options vested in their favour under -Indiabulls Ventures Limited Employees Stock Option Scheme - 2008.

Consequent to the said allotment, the paid-up Equity share capital of the Company stands increased to Rs. 58,86,13,840/- divided into 29,43,06,920 Equity shares of face value Rs. 2/- each.

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Rupee reverses losses
Feb 23,2017

Rupee closed higher at 66.8300/8325 per dollar on Thursday (23 February 2017), versus its previous close of 66.9775/9800 per dollar.

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Stovec Industries standalone net profit declines 6.30% in the December 2016 quarter
Feb 23,2017

Net profit of Stovec Industries declined 6.30% to Rs 4.76 crore in the quarter ended December 2016 as against Rs 5.08 crore during the previous quarter ended December 2015. Sales rose 17.10% to Rs 54.52 crore in the quarter ended December 2016 as against Rs 46.56 crore during the previous quarter ended December 2015.

For the full year,net profit rose 9.01% to Rs 22.39 crore in the year ended December 2016 as against Rs 20.54 crore during the previous year ended December 2015. Sales rose 19.95% to Rs 186.30 crore in the year ended December 2016 as against Rs 155.32 crore during the previous year ended December 2015.

ParticularsQuarter EndedYear Endedn++Dec. 2016Dec. 2015% Var.Dec. 2016Dec. 2015% Var. Sales54.5246.56 17 186.30155.32 20 OPM %15.0816.34 -19.0321.16 - PBDT9.008.77 3 39.1036.23 8 PBT7.687.54 2 33.9731.07 9 NP4.765.08 -6 22.3920.54 9

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Sagar Tourist Resorts reports standalone net loss of Rs 0.10 crore in the December 2016 quarter
Feb 23,2017

Net Loss of Sagar Tourist Resorts reported to Rs 0.10 crore in the quarter ended December 2016 as against net loss of Rs 0.02 crore during the previous quarter ended December 2015. Sales declined 31.03% to Rs 0.20 crore in the quarter ended December 2016 as against Rs 0.29 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales0.200.29 -31 OPM %-35.003.45 - PBDT-0.070.01 PL PBT-0.10-0.02 -400 NP-0.10-0.02 -400

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Lords Chloro Alkali standalone net profit declines 86.21% in the December 2016 quarter
Feb 23,2017

Net profit of Lords Chloro Alkali declined 86.21% to Rs 0.36 crore in the quarter ended December 2016 as against Rs 2.61 crore during the previous quarter ended December 2015. Sales rose 16.23% to Rs 27.79 crore in the quarter ended December 2016 as against Rs 23.91 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales27.7923.91 16 OPM %6.0512.59 - PBDT1.423.57 -60 PBT0.252.91 -91 NP0.362.61 -86

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TechNVision Ventures consolidated net profit declines 19.05% in the December 2016 quarter
Feb 23,2017

Net profit of TechNVision Ventures declined 19.05% to Rs 0.17 crore in the quarter ended December 2016 as against Rs 0.21 crore during the previous quarter ended December 2015. Sales rose 21.03% to Rs 16.17 crore in the quarter ended December 2016 as against Rs 13.36 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales16.1713.36 21 OPM %2.479.28 - PBDT0.401.23 -67 PBT0.350.38 -8 NP0.170.21 -19

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Creative World Telefilms reports standalone nil net profit/loss in the December 2016 quarter
Feb 23,2017

Creative World Telefilms reported no net profit/loss in the quarter ended December 2016 and during the previous quarter ended December 2015. There were no Sales reported in the quarter ended December 2016 and during the previous quarter ended December 2015.

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Spacenet Enterprises India reports standalone net loss of Rs 0.11 crore in the December 2016 quarter
Feb 23,2017

Net Loss of Spacenet Enterprises India reported to Rs 0.11 crore in the quarter ended December 2016 as against net loss of Rs 0.60 crore during the previous quarter ended December 2015. There were no Sales reported in the quarter ended December 2016 and during the previous quarter ended December 2015.

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Sai Television reports standalone nil net profit/loss in the December 2016 quarter
Feb 23,2017

Sai Television reported no net profit/loss in the quarter ended December 2016 as against net loss of Rs 0.01 crore during the previous quarter ended December 2015. There were no Sales reported in the quarter ended December 2016 and during the previous quarter ended December 2015.

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Shriram Pistons & Rings standalone net profit rises 29.34% in the December 2016 quarter
Feb 23,2017

Net profit of Shriram Pistons & Rings rose 29.34% to Rs 22.79 crore in the quarter ended December 2016 as against Rs 17.62 crore during the previous quarter ended December 2015. Sales declined 1.23% to Rs 324.15 crore in the quarter ended December 2016 as against Rs 328.20 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales324.15328.20 -1 OPM %16.3818.28 - PBDT57.2758.72 -2 PBT34.2435.48 -3 NP22.7917.62 29

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NEPC Agro Foods standalone net profit declines 50.00% in the December 2016 quarter
Feb 23,2017

Net profit of NEPC Agro Foods declined 50.00% to Rs 0.01 crore in the quarter ended December 2016 as against Rs 0.02 crore during the previous quarter ended December 2015. Sales declined 33.33% to Rs 0.10 crore in the quarter ended December 2016 as against Rs 0.15 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales0.100.15 -33 OPM %-140.0013.33 - PBDT0.010.02 -50 PBT0.010.02 -50 NP0.010.02 -50

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Peria Karamalai Tea & Produce Company reports standalone net profit of Rs 0.37 crore in the December 2016 quarter
Feb 23,2017

Net profit of Peria Karamalai Tea & Produce Company reported to Rs 0.37 crore in the quarter ended December 2016 as against net loss of Rs 0.54 crore during the previous quarter ended December 2015. Sales rose 2.85% to Rs 9.73 crore in the quarter ended December 2016 as against Rs 9.46 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales9.739.46 3 OPM %9.76-2.54 - PBDT1.12-0.16 LP PBT0.42-0.54 LP NP0.37-0.54 LP

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Nicco Corporation reports standalone net loss of Rs 10.10 crore in the December 2016 quarter
Feb 23,2017

Net Loss of Nicco Corporation reported to Rs 10.10 crore in the quarter ended December 2016 as against net loss of Rs 12.23 crore during the previous quarter ended December 2015. There were no Sales reported in the quarter ended December 2016 as against Rs 1.86 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales01.86 -100 OPM %0-144.62 - PBDT-9.08-11.32 20 PBT-10.10-12.23 17 NP-10.10-12.23 17

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