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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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Man Industries (India) standalone net profit declines 54.16% in the September 2016 quarter
Dec 14,2016

Net profit of Man Industries (India) declined 54.16% to Rs 9.30 crore in the quarter ended September 2016 as against Rs 20.29 crore during the previous quarter ended September 2015. Sales declined 22.40% to Rs 247.85 crore in the quarter ended September 2016 as against Rs 319.41 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales247.85319.41 -22 OPM %7.1211.31 - PBDT22.7740.39 -44 PBT13.0030.78 -58 NP9.3020.29 -54

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PVP Ventures appoints CFO
Dec 14,2016

PVP Ventures announced that the Board of Directors of the Company at its meeting held on 14 December 2016, inter alia, have appointed D. Krishnamoorthy as Chief Financial Officer of the Company.

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Board of Foods & Inns to consider conversion of loan
Dec 14,2016

Foods & Inns announced that a meeting of the Board of Directors will be held on 17 December 2016, inter alia, to consider and approve the following business:

1. To consider raising capital by way of conversion of loan into equity shares and further issuance of equity shares to investors on a private placement basis.

2. Approve draft notice of extra-ordinary general meeting for obtaining shareholders approval on the above matter.

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Outcome of board meeting of McNally Bharat Engineering Company
Dec 14,2016

McNally Bharat Engineering Company announced that the Board of Directors of the Company at its meeting held on 14 December 2016 has appointed Srinivash Singh as the Managing Director of the Company with immediate effect. The Board also appointed Partha S Bhattacharya as an Independent Director of the Company with immediate effect and accepted resignation of S R Dasgupta as Independent Director with immediate effect.

The Board also decided to not go ahead with merger proposal of EMC, McNally Bharat Engineering Company and McNally Sayaji Engineering with Kilburn Engineering.

The Board has decided to consider infusion of fresh equity into the company up to an amount of Rs 600 crore to further recapitalise the company.

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L&T Technology Services announces resignation of director
Dec 14,2016

L&T Technology Services announced that the Whole Time Director and Chief Operating Officer, Kumar Prabhas, has expressed his intention to pursue his interests outside the Company.

Kumar Prabhas will be relieved from the services of the Company w.e.f. close of working hours on 21 January 2017.

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TCS recognised as Leader in Magic Quadrant for Application Testing Services
Dec 14,2016

Tata Consultancy Services announced that it has been recognised by Gartner Inc. as a Leader for the third consecutive year in its Magic Quadrant for Application Testing Services, Worldwide, report.

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Mindtree allots equity shares
Dec 14,2016

Mindtree has allotted 8,856 equity shares of Rs. 10/- each, pursuant to the exercise of granted shares under Mindtree Employee Restricted Stock Purchase Plan 2012 (Program VIII) (ESPS) of the Company.

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Jagran Prakashan to redeem NCDs aggregating Rs 29 crore
Dec 14,2016

Jagran Prakashan announced that the Board of Directors has decided to redeem 2,900 unlisted unsecured non-convertible debentures of Rs. 1 lakh each aggregating to Rs. 29 crore, held by Jagran Media Network Investment, holding Company of the Company, along with redemption premium at coupon rate of 6.5% p.a.

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Edelweiss Financial Services allots equity shares
Dec 14,2016

Edelweiss Financial Services announced that the Share Allotment Committee has allotted 10,06,187 Equity Shares of the face value of Re. 1/- each under Edelweiss Employee Stock Option Scheme(s) of the Company.

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Sujana Towers reports standalone net loss of Rs 103.93 crore in the September 2016 quarter
Dec 14,2016

Net Loss of Sujana Towers reported to Rs 103.93 crore in the quarter ended September 2016 as against net loss of Rs 15.25 crore during the previous quarter ended September 2015. Sales declined 96.31% to Rs 11.16 crore in the quarter ended September 2016 as against Rs 302.13 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales11.16302.13 -96 OPM %0.1826.09 - PBDT-72.3319.19 PL PBT-95.43-4.77 -1901 NP-103.93-15.25 -582

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MBL Infrastructures reports standalone net loss of Rs 122.79 crore in the September 2016 quarter
Dec 14,2016

Net loss of MBL Infrastructures reported to Rs 122.79 crore in the quarter ended September 2016 as against net profit of Rs 17.68 crore during the previous quarter ended September 2015. Sales declined 8.41% to Rs 371.93 crore in the quarter ended September 2016 as against Rs 406.10 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales371.93406.10 -8 OPM %-48.3711.65 - PBDT-203.7325.82 PL PBT-208.2721.58 PL NP-122.7917.68 PL

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Unity Infraprojects reports standalone net loss of Rs 109.39 crore in the September 2016 quarter
Dec 14,2016

Net Loss of Unity Infraprojects reported to Rs 109.39 crore in the quarter ended September 2016 as against net loss of Rs 112.10 crore during the previous quarter ended September 2015. Sales rose 13.96% to Rs 58.36 crore in the quarter ended September 2016 as against Rs 51.21 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales58.3651.21 14 OPM %-131.34-86.90 - PBDT-135.34-107.32 -26 PBT-139.00-112.10 -24 NP-109.39-112.10 2

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Gammon Infrastructure Projects reports standalone net profit of Rs 2.83 crore in the September 2016 quarter
Dec 14,2016

Net profit of Gammon Infrastructure Projects reported to Rs 2.83 crore in the quarter ended September 2016 as against net loss of Rs 0.72 crore during the previous quarter ended September 2015. Sales declined 55.49% to Rs 26.98 crore in the quarter ended September 2016 as against Rs 60.62 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales26.9860.62 -55 OPM %2.3016.64 - PBDT3.66-0.02 LP PBT3.62-0.72 LP NP2.83-0.72 LP

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PVP Ventures standalone net profit rises 2625.00% in the September 2016 quarter
Dec 14,2016

Net profit of PVP Ventures rose 2625.00% to Rs 1.09 crore in the quarter ended September 2016 as against Rs 0.04 crore during the previous quarter ended September 2015. Sales declined 10.59% to Rs 7.09 crore in the quarter ended September 2016 as against Rs 7.93 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales7.097.93 -11 OPM %70.2462.55 - PBDT1.240.19 553 PBT1.090.05 2080 NP1.090.04 2625

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MBL Infrastructures reports consolidated net loss of Rs 121.84 crore in the September 2016 quarter
Dec 14,2016

Net loss of MBL Infrastructures reported to Rs 121.84 crore in the quarter ended September 2016 as against net profit of Rs 18.88 crore during the previous quarter ended September 2015. Sales declined 8.14% to Rs 378.99 crore in the quarter ended September 2016 as against Rs 412.56 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales378.99412.56 -8 OPM %-45.6912.97 - PBDT-196.0529.18 PL PBT-204.3023.22 PL NP-121.8418.88 PL

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