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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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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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Southern Petrochemicals Industries Corporation standalone net profit declines 78.50% in the December 2016 quarter
Feb 23,2017

Net profit of Southern Petrochemicals Industries Corporation declined 78.50% to Rs 3.95 crore in the quarter ended December 2016 as against Rs 18.37 crore during the previous quarter ended December 2015. Sales declined 22.88% to Rs 431.53 crore in the quarter ended December 2016 as against Rs 559.55 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales431.53559.55 -23 OPM %3.866.47 - PBDT11.7725.59 -54 PBT3.9518.22 -78 NP3.9518.37 -78

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Spacenet Enterprises India reports consolidated net loss of Rs 0.86 crore in the December 2016 quarter
Feb 23,2017

Net Loss of Spacenet Enterprises India reported to Rs 0.86 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 98.16% to Rs 0.03 crore in the quarter ended December 2016 as against Rs 1.63 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales0.031.63 -98 OPM %-2800.00-55.83 - PBDT-0.84-0.89 6 PBT-0.86-0.90 4 NP-0.86-0.90 4

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CBEC launches a Mobile Application for GST to inform the taxpayers of the latest updates on GST among others
Feb 23,2017

In step with the Governments Digital India initiative, the Central Board of Excise and Customs (CBEC) has launched a mobile application for Goods and Services Tax.

Taxpayers can readily access a host of GST information such as:

n++ Migration to GST-Approach and guidelines for migration

n++ Draft Law-Model GST Law, IGST Law and GST Compensation Law

n++ Draft Rules-Rules related to Registration, Returns, Payment, Refund and Invoice

n++ Frequently Asked Questions (FAQs) on GST

n++ Various resources on GST such a videos, articles etc.

n++ Related Website Links

n++ Helpdesk/Email Contact

The Mobile Application enables taxpayers to be well informed of the latest updates on GST. Taxpayers can also provide feedback and contact CBECs 24x7 helpdesk n++CBEC Mitran++ through a toll-free number or email, at the touch of a button.

The mobile application can be downloaded free of cost on Android platforms. The iOS version will be made available shortly.

With its elegant and easy-to-use interface, the GST Mobile Application is a yet another initiative by CBEC towards improving ease of doing business and providing outstanding taxpayer services.

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Tata Consultancy Services partners with Community Savings Bank Association
Feb 23,2017

Tata Consultancy Services announced that Community Savings Bank Association has selected TCS BaNCS on the Cloud as the core banking solution for its member banks across the entire United Kingdom.

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Roopa Industries announces resignation of director
Feb 23,2017

Roopa Industries announced that Kadiyala Suneetha, who is Independent Woman Director of the Company has resigned, with immediate effect, as director of the Company vide her letter dated 25 January 2017. The Board of Directors of the Company has taken note of the resignation of Kadiyala Suneetha in their meeting held on 01 February 2017.

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Wipro allots 8700 equity shares
Feb 23,2017

Wipro has allotted 8700 equity shares under ADS RSU Plan 2004 and 336 equity shares under RSU Plan 2007 to the employees on 22 February 2017 pursuant to exercise of ESOPs.

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Winsome Textile Industries gets upgradation in credit ratings
Feb 23,2017

Winsome Textile Industries has received upgrade in its credit ratings from Credit Analysis & Research for the Companys bank facilities -

Long term bank facilities (Rs 159.75 crore) - CARE BBB-; Stable
Short term bank facilities (Rs 160.25 crore) - CARE A3

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Board of Radha Madhav Corporation allots convertible warrants
Feb 23,2017

Radha Madhav Corporation announced that the Board of Directors at its meeting held on 23 February 2017 has approved the allotment of 2 crore convertible warrants of a price of Rs 10 each on preferential basis.

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