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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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Axis Bank reduces MCLR rates
Jan 13,2017

Axis Bank announced that the Bank has reduces MCLRs by 65-70 bps across tenors with effect from 18 January 2017. The One year MCLR stands at 8.25% after the review.

Overnight - 7.90%
One month - 7.90%
Three month- 8.05%
Six month - 8.15%
One year - 8.25%
Two year - 8.30%
Three year - 8.35%

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Rabi Crops Sowing Crosess 616 Lakh Hactare
Jan 13,2017

As per preliminary reports received from the States, the total area sown under Rabi crops as on 13th January 2017 stands at 616.21 lakh hectares as compared to 581.95 lakh hectare this time in 2016.

Wheat has been sown/transplanted in 309.60 lakh hectares, rice in 14.92 lakh hectares, pulses in 155.35 lakh hectares, coarse cereals in 54.87 lakh hectares and area sown under oilseeds is 81.47 lakh hectares.

The area sown so far and that sown during last year this time is as follows:n++

Lakhn++hectare

CropArea sown in 2016-17Area sown in 2015-16Wheat309.60289.07Rice14.9219.48Pulses155.35139.93Coarse Cereals54.8758.40Oilseeds81.4775.06Total616.21581.95

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Indias services exports up 11% in November 2016
Jan 13,2017

As per the data released by the Reserve Bank of India, Indias services exports declined 11.0% to US$ 13.34 billion in November 2016 over November 2015. Meanwhile, Indias services imports moved up 46.4% to US$ 8.32 billion in November 2016.

Indias services trade surplus narrowed 20.8% to US$ 5.02 billion in November 2016 from US$ 6.33 billion in November 2015.

Indias services trade surplus fell 8.4% to US$ 42.81 billion in April-November 2016 over a year ago, with 11.8% rise in services imports to US$ 63.26 billion. Indias services exports rose mere 2.7% to US$ 106.07 billion in April-November 2016.

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Government Decides to Revoke The Suspension of Deemed Recognition of IOA with immediate Effect
Jan 13,2017

Government has decided to revoke the suspension of deemed recognition of IOA with immediate effect in the light of the corrective action taken by them in reversing its earlier decision making Shri Abhay Singh Chautala and Shri Suresh Kalmadi, Life Presidents of IOA. Since IOA has admitted the faux pas committed and regretted the inconvenience and embarrassment caused to all concerned, it is expected of IOA that it will uphold the highest standard of probity and ethics in its functioning in future.

In the light of the above developments and keeping in view the larger interest of promotion and development of sports in the country, the Minister of State (Independent Charge), Ministry of Youth Affairs and Sports has revoked the suspension of deemed recognition of IOA, imposed on 30 December 2016, with immediate effect.

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Rabi crops sowing crosses 616 lakh hactare
Jan 13,2017

As per preliminary reports received from the States, the total area sown under Rabi crops as on 13 January 2017 stands at 616.21 lakh hectares as compared to 581.95 lakh hectare this time in 2016. The Rabi crop sowing has increased 5.9% above last year level.

Wheat has been sown/transplanted in 309.6 lakh hectares as on 13 January 2017, up 7.1% compared with sowing of 289.07 lakh hectares same time last season. The area under pulses also moved up 11% to 155.35 lakh hectares, while that under oil seeds also increased 8.5% to 81.47 lakh hectares.

However, the area under rice has declined 23.4% to 14.92 lakh hectares, while that under coarse cereals also fell 6% to 54.87 lakh hectares as on 13 January 2017 over a year ago.

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IL&FS Transportation Networks reports standalone net profit of Rs 55.66 crore in the December 2016 quarter
Jan 13,2017

Net profit of IL&FS Transportation Networks reported to Rs 55.66 crore in the quarter ended December 2016 as against net loss of Rs 19.42 crore during the previous quarter ended December 2015. Sales declined 23.80% to Rs 763.00 crore in the quarter ended December 2016 as against Rs 1001.29 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales763.001001.29 -24 OPM %49.2413.03 - PBDT38.37-29.99 LP PBT35.80-32.28 LP NP55.66-19.42 LP

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Universal Credit & Securities reports standalone nil net profit/loss in the December 2016 quarter
Jan 13,2017

Universal Credit & Securities reported no net profit/loss in the quarter ended December 2016 as against net profit of Rs 0.01 crore during the previous quarter ended December 2015. Sales declined 42.31% to Rs 0.30 crore in the quarter ended December 2016 as against Rs 0.52 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales0.300.52 -42 OPM %01.92 - PBDT00.01 -100 PBT00.01 -100 NP00.01 -100

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Goa Carbon reports standalone net loss of Rs 1.09 crore in the December 2016 quarter
Jan 13,2017

Net Loss of Goa Carbon reported to Rs 1.09 crore in the quarter ended December 2016 as against net loss of Rs 0.90 crore during the previous quarter ended December 2015. Sales declined 19.92% to Rs 71.89 crore in the quarter ended December 2016 as against Rs 89.77 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales71.8989.77 -20 OPM %2.270.26 - PBDT-1.15-0.71 -62 PBT-1.63-1.19 -37 NP-1.09-0.90 -21

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GRUH Finance standalone net profit rises 19.17% in the December 2016 quarter
Jan 13,2017

Net profit of GRUH Finance rose 19.17% to Rs 64.04 crore in the quarter ended December 2016 as against Rs 53.74 crore during the previous quarter ended December 2015. Sales rose 17.76% to Rs 381.02 crore in the quarter ended December 2016 as against Rs 323.55 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales381.02323.55 18 OPM %85.8488.38 - PBDT97.3582.55 18 PBT96.6581.82 18 NP64.0453.74 19

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National Steel & Agro Industries standalone net profit rises 264.41% in the December 2016 quarter
Jan 13,2017

Net profit of National Steel & Agro Industries rose 264.41% to Rs 4.30 crore in the quarter ended December 2016 as against Rs 1.18 crore during the previous quarter ended December 2015. Sales rose 14.45% to Rs 964.15 crore in the quarter ended December 2016 as against Rs 842.39 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales964.15842.39 14 OPM %4.054.15 - PBDT11.035.50 101 PBT6.821.80 279 NP4.301.18 264

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Per capita availability of milk in India is 337 gram/day as compared to the average world per capita availability of 229 gram/day
Jan 13,2017

Union Minister of Agriculture and Farmers Welfare, Shri Radha Mohan Singh has said that milk production has become a major economic activity amongst rural households and farmers are adopting dairying along with agriculture for augmenting their incomes.

Shri Radha Mohan Singh said that about 70 million rural households are engaged in milk production. The small and marginal farmers & landless labourer produce about one to three litres of milk per day and are responsible for production of most of the milk for the country. About 78 percent farmers in India are small and marginal, who own about 75 percent of female bovine but own only 40 percent farm land. Milk contributes to one third of gross income of rural households and in case of landless its contribution is half in their gross income.

Agriculture Minister said that India continues to hold the number one position among milk producing nations of the world since 1998. India has largest bovine population in the world (18.4 percent share). Milk production in India has increased from 22 million tonne in 1970 to 156 million tonne in 2015-16, which shows a growth of 700 percent during last 46 years. As a result, the per capita availability of milk in India is 337 gram/day as compared to average world per capita availability of 229 gram/day.

Shri Singh said that during last two years 2014-16, milk production has registered a growth rate of 6.28 percent, which is more than last year growth rate of about 4 percent and more than three times higher than the world growth average of 2.2 percent. If wheat and paddy is combined together, even then, in Gross Value Addition (GVA) of Rs.4.92 crore in 2014-15, the contribution of milk is more than 37 percent. About 54 percent of milk produced in the country is surplus, out of which about 38 percent is handled by the organized sector. The Co-operatives and private dairy organisations have equal share in it. Shri Singh said that women participation in dairying is about 70 per cent.

Union Agriculture Minister said that in order to encourage the farmers for increasing milk production, it is imperative that milk collection facilities need to be upgraded and farmers be given remunerative price for their produce. This is possible only when an effective management system is in place to link the farmers to the market. Shri Singh said that BPL households, small and marginal farmers will be encouraged to rear descript indigenous breeds.

Shri Radha Mohan Singh said that the National Bovine Breeding and Dairy Development Programme (NPBBDD) has been started in 2014-15 converging four existing programmes. The objective of this programme is to prepare a comprehensive and scientific programme to meet the increasing demand for milk. The programme has two components - National Bovine Breeding programme (NPBB) and National Dairy Development Programme (NPDD). The NPBB focusses on expanding field coverage for artificial insemination network, monitoring of programmes for indigenous breed development and conservation in the breeding areas. The NPDD is focusing on creating and strengthening of infrastructure for milk unions/federations for production, procurement, processing & marketing of milk and training of dairy farmers and extension.

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BSNL partners with Tata Communications
Jan 13,2017

Bharat Sanchar Nigam has partnered with Tata Communications to deliver a high-quality mobile experience and accelerate how its subscribers use Wi-Fi internationally. In an industry first, BSNL hasdeployed Tata Communications Wi-Fi+, Wi-Fin++ cloud communication solution, giving its subscribers seamless access to 44 million Wi-Fi hotspots in more than 100 countries including international flights and rail systems.

Wi-fi+ allows BSNL subscribers access to the single largest global Wi-Fi network in the world while travelling outside India. Typically accessing Wi-fi hotspots is very cumbersome and requires the user to remember multiple passwords. With Wi-fi+, BSNL users will have to register just once to automatically connect to the closest participating Wi-Fin++ hotspot, even if they travel to a different city, country or continent.

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Maruti Suzuki India launches premium urban compact vehicle - IGNIS
Jan 13,2017

Maruti Suzuki India launched the much awaited premium urban compact vehicle for the millennials, IGNIS on 13 January 2017.

IGNIS is built on a new generation rigid platform embodying Suzuki Total Effective Control Technology (TECT) for occupant protection. The Company, alongwith its suppliers, has invested over Rs 950 crore towards development of IGNIS. IGNIS comes with 98.5% localization.

IGNIS ex-showroom (Delhi) introductory price starts from Rs 4.59 lakh onwards for Sigma variant (petrol manual).

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Alankit enters into agreement with NSDL e-governance Infrastructure
Jan 13,2017

Alankit has entered into an agreement with NSDL e-governance Infrastructure (NSDL e-Gov) to act as a facilitation centre (TWFC) for collecting and forwarding specified data required for CDRS, established on behalf of the National Handloom Development Corporation (NHDC), Ministry of Textiles, Govt. of India (MOT).

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Goa Carbon fixes record date for interim dividend
Jan 13,2017

Goa Carbon announced that the Company has fixed 25 January 2017 as the Record Date for the purpose of payment of interim dividend. Interim dividend shall be paid / dispatched on or before 08 February 2017.

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