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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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Sovereign Diamonds reports standalone net loss of Rs 0.07 crore in the December 2016 quarter
Feb 11,2017

Net Loss of Sovereign Diamonds reported to Rs 0.07 crore in the quarter ended December 2016 as against net loss of Rs 0.01 crore during the previous quarter ended December 2015. Sales declined 20.76% to Rs 7.48 crore in the quarter ended December 2016 as against Rs 9.44 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales7.489.44 -21 OPM %6.826.46 - PBDT0.050.13 -62 PBT-0.07-0.01 -600 NP-0.07-0.01 -600

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Waterbase reports standalone net profit of Rs 0.17 crore in the December 2016 quarter
Feb 11,2017

Net profit of Waterbase reported to Rs 0.17 crore in the quarter ended December 2016 as against net loss of Rs 11.37 crore during the previous quarter ended December 2015. Sales declined 3.91% to Rs 54.13 crore in the quarter ended December 2016 as against Rs 56.33 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales54.1356.33 -4 OPM %3.956.85 - PBDT1.074.07 -74 PBT0.553.62 -85 NP0.17-11.37 LP

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Brady & Morris Engineering Company standalone net profit rises 166.67% in the December 2016 quarter
Feb 11,2017

Net profit of Brady & Morris Engineering Company rose 166.67% to Rs 0.08 crore in the quarter ended December 2016 as against Rs 0.03 crore during the previous quarter ended December 2015. Sales rose 22.13% to Rs 10.10 crore in the quarter ended December 2016 as against Rs 8.27 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales10.108.27 22 OPM %7.337.38 - PBDT0.330.31 6 PBT0.080.03 167 NP0.080.03 167

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Ecoboard Industries reports standalone net loss of Rs 1.37 crore in the December 2016 quarter
Feb 11,2017

Net Loss of Ecoboard Industries reported to Rs 1.37 crore in the quarter ended December 2016 as against net loss of Rs 7.34 crore during the previous quarter ended December 2015. Sales declined 42.58% to Rs 3.52 crore in the quarter ended December 2016 as against Rs 6.13 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales3.526.13 -43 OPM %1.70-36.54 - PBDT-1.08-2.99 64 PBT-1.37-3.34 59 NP-1.37-7.34 81

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Jaysynth Dyestuff (India) standalone net profit declines 76.47% in the December 2016 quarter
Feb 11,2017

Net profit of Jaysynth Dyestuff (India) declined 76.47% to Rs 0.20 crore in the quarter ended December 2016 as against Rs 0.85 crore during the previous quarter ended December 2015. Sales declined 3.83% to Rs 27.88 crore in the quarter ended December 2016 as against Rs 28.99 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales27.8828.99 -4 OPM %2.046.07 - PBDT0.821.84 -55 PBT0.361.30 -72 NP0.200.85 -76

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Board of Selan Exploration Technology declares interim dividend
Feb 11,2017

Selan Exploration Technology announced that the Board of Directors in their meeting held on 11 February 2017, inter alia, have approved the following items:

- Declaration of an Interim Dividend of 50% (i.e. Rs. 5.00/- per equity share) for the Financial Year 2016-17.

Further, the said dividend shall be paid / dispatched within 30 days of declaration of Interim Dividend.

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Board of Banswara Syntex approves change in company secretary
Feb 11,2017

Banswara Syntex announced that the Board of Directors, at its meeting held on 10 February 2017, has appointed H.P. Kharwal as the Company Secretary cum Compliance Officer of the Company in place of J.K. Jain with effect from 10 February 2017.

Further, J.K. Jain will continue as Chief Financial Officer of the Company.

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Palsoft Infosystems appoints compliance officer
Feb 11,2017

Palsoft Infosystems that the Board of Directors of the Company has appointed Poonam Jangid, Company Secretary as a Compliance Officer w.e.f. 01 February 2017.

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Board of Fineotex Chemical declares interim dividend
Feb 11,2017

Fineotex Chemical announced that the Board of Directors of the Company at its meeting held on 10 February 2017, has declared Interim Dividend @5% i.e. Rs. 0.10 on Equity Shares of Face Value Rs. 2 each.

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Fineotex Chemical fixes record date for interim dividend
Feb 11,2017

Fineotex Chemical has fixed 22 February 2017 as the Record Date for the purpose of Payment of Interim Dividend.

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Dhampur Sugar Mills fixes record date for interim dividend
Feb 11,2017

Dhampur Sugar Mills has fixed 22 February 2017 as the Record Date for the purpose of Payment of Interim dividend.

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Board of Sudarshan Chemical Industries recommends dividend
Feb 11,2017

Sudarshan Chemical Industries 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. 125%) , subject to the approval of the shareholders.

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Board of SRF recommends dividend
Feb 11,2017

SRF 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 6 per equity Share (i.e. 60%) , subject to the approval of the shareholders.

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Arihant Avenues & Credit to hold EGM
Feb 11,2017

Arihant Avenues & Credit announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 10 March 2017.

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Board of Balkrishna Industries declares 3rd interim dividend
Feb 11,2017

Balkrishna Industries announced that in the meeting of the Board of Directors held on 10 February 2017, the Board inter-alia took the following decisions:

1. The Board has declared 3rd interim dividend of Rs. 2/- per Equity Share (100%) on the Equity Shares of Rs. 2/- each (face value) for the financial year 2016-2017.

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