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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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Board of Dhampur Sugar Mills recommends dividend
Feb 11,2017

Dhampur Sugar Mills announced that the Board of Directors of the Company at its meeting held on 10 February 2017, inter alia, have recommended the dividend of Rs 2.5 per equity Share (i.e. 25%) , subject to the approval of the shareholders.

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Rajasthan Gases to hold board meeting
Feb 11,2017

Rajasthan Gases will hold a meeting of the Board of Directors of the Company on 14 February 2017.

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Board of Bosch recommends dividend
Feb 11,2017

Bosch announced that the Board of Directors of the Company at its meeting held on 10 February 2017, inter alia, have recommended the dividend of Rs 75 per equity Share (i.e. 750%) , subject to the approval of the shareholders.

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Associated Ceramics to hold board meeting
Feb 11,2017

Associated Ceramics will hold a meeting of the Board of Directors of the Company on 15 February 2017.

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Anil Special Steel Industries to hold board meeting
Feb 11,2017

Anil Special Steel Industries will hold a meeting of the Board of Directors of the Company on 14 February 2017.

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Spectacle Ventures to hold board meeting
Feb 11,2017

Spectacle Ventures will hold a meeting of the Board of Directors of the Company on 14 February 2017.

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Trijal Industries to hold board meeting
Feb 11,2017

Trijal Industries will hold a meeting of the Board of Directors of the Company on 14 February 2017.

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Industrial production declines 0.4% in December 2016
Feb 10,2017

Indias industrial production declined 0.4% in December 2016 over December 2015, snapping strong 5.7% growth recorded in November 2016. The manufacturing sectors production declined 2.0% in December 2016 contributing to the overall decline in industrial production. However, the mining output increased 5.2%, while the electricity generation also moved up 6.3% in December 2016.

In terms of industries, seventeen out of the twenty two industry groups in the manufacturing sector have shown negative growth during the month of December 2016 as compared to the corresponding month of the previous year.

The industrial production rose 0.3% in April-December 2016, compared with 4.2% growth in the corresponding period last year. The manufactured product sector output declined 0.5%, while the mining and electricity generation improved 0.9% and 5.1% in April-December 2016.

As per the use-based classification, the basic goods output improved 5.4% in December 2016 over a year ago, but the output of intermediate goods declined 1.2%. The consumer goods output dipped 6.9%, while the output of capital goods also fell 3% in December 2016. Within consumer goods, the production of consumer durables plunged 10.3%, while that of consumer non-durables also slipped 5% in December 2016.

The IIP growth in November 2016 has been retained nearly unchanged at 5.7% in the first revision compared with the figure reported provisionally. Meanwhile, the growth in September 2016 has been also maintained unchanged at 0.7% at the final revision from first revision as well as its provisional figure.

The industry group Office, accounting and computing machinery has shown the highest negative growth of (-) 23.9% followed by (-) 22.9% in Other transport equipment and (-) 14.4% in Luggage, handbags, saddlery, harness & footwear; tanning and dressing of leather products.

On the other hand, the industry group Basic metals has shown the highest positive growth of 11.1% followed by 9.8% in Radio, TV and communication equipment & apparatus and 3.0% in Coke, refined petroleum products and nuclear fuel.

Some important items that have registered high negative growth include Woollen Carpets (-) 51.3%), Three-Wheelers (including passenger and goods carrier) (-) 43.3%, Ayurvedic Medicaments (-) 39.6%, Molasses (-) 37.9%, Rice (-) 32.8%, Propylene (-) 28.5%, Scooter and Mopeds (-) 26.3%, Transformers (small) (-) 26.1%, Air Conditioner (Room) (-) 25.7%, Motor Cycles (-) 24.6%, Leather Garments (-) 23.2%, Conductor, Aluminium (-) 21.1% and Pressure cooker (-) 20.4%.

Some important items showing high positive growth during the current month over the same month in previous year include Fruit Pulp 120.1%, Electric sheets 99.9%, Cable, Rubber Insulated 55.5%, HR Coils/ Skelp 50.4%, Vitamins 37.4%, Aviation Turbine Fuel 32.7%, Ship Building and Repairs 31.2%, Sponge iron 28.9%, Plates 22.3% and Tractors complete 21.4%.

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Nakoda reports standalone net loss of Rs 18.34 crore in the December 2016 quarter
Feb 10,2017

Net Loss of Nakoda reported to Rs 18.34 crore in the quarter ended December 2016 as against net loss of Rs 21.20 crore during the previous quarter ended December 2015. Sales rose 195.08% to Rs 10.80 crore in the quarter ended December 2016 as against Rs 3.66 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales10.803.66 195 OPM %14.26-3.01 - PBDT1.77-0.06 LP PBT-18.34-21.20 13 NP-18.34-21.20 13

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Bhagyanagar India standalone net profit rises 92.11% in the December 2016 quarter
Feb 10,2017

Net profit of Bhagyanagar India rose 92.11% to Rs 1.46 crore in the quarter ended December 2016 as against Rs 0.76 crore during the previous quarter ended December 2015. Sales rose 3.63% to Rs 68.77 crore in the quarter ended December 2016 as against Rs 66.36 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales68.7766.36 4 OPM %5.77-0.30 - PBDT3.122.11 48 PBT1.820.84 117 NP1.460.76 92

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HB Stockholdings standalone net profit rises 228.05% in the December 2016 quarter
Feb 10,2017

Net profit of HB Stockholdings rose 228.05% to Rs 2.69 crore in the quarter ended December 2016 as against Rs 0.82 crore during the previous quarter ended December 2015. Sales rose 142.11% to Rs 3.68 crore in the quarter ended December 2016 as against Rs 1.52 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales3.681.52 142 OPM %79.3559.21 - PBDT2.920.90 224 PBT2.910.88 231 NP2.690.82 228

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Vindhya Telelinks standalone net profit declines 31.28% in the December 2016 quarter
Feb 10,2017

Net profit of Vindhya Telelinks declined 31.28% to Rs 10.70 crore in the quarter ended December 2016 as against Rs 15.57 crore during the previous quarter ended December 2015. Sales declined 16.79% to Rs 206.78 crore in the quarter ended December 2016 as against Rs 248.51 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales206.78248.51 -17 OPM %14.0014.59 - PBDT19.1826.55 -28 PBT16.0223.88 -33 NP10.7015.57 -31

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Gujarat Carbon & Industries reports standalone net loss of Rs 0.02 crore in the December 2016 quarter
Feb 10,2017

Net Loss of Gujarat Carbon & Industries reported to Rs 0.02 crore in the quarter ended December 2016 as against net loss of Rs 0.11 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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Pokarna consolidated net profit declines 16.58% in the December 2016 quarter
Feb 10,2017

Net profit of Pokarna declined 16.58% to Rs 17.36 crore in the quarter ended December 2016 as against Rs 20.81 crore during the previous quarter ended December 2015. Sales declined 5.47% to Rs 91.91 crore in the quarter ended December 2016 as against Rs 97.23 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales91.9197.23 -5 OPM %34.8538.74 - PBDT26.6831.34 -15 PBT21.6826.60 -18 NP17.3620.81 -17

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Uttam Sugar Mills reports standalone net profit of Rs 30.75 crore in the December 2016 quarter
Feb 10,2017

Net profit of Uttam Sugar Mills reported to Rs 30.75 crore in the quarter ended December 2016 as against net loss of Rs 16.40 crore during the previous quarter ended December 2015. Sales declined 4.81% to Rs 225.77 crore in the quarter ended December 2016 as against Rs 237.17 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales225.77237.17 -5 OPM %23.482.83 - PBDT38.41-9.91 LP PBT32.54-15.58 LP NP30.75-16.40 LP

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