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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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Vijaya Bank standalone net profit rises 337.71% in the December 2016 quarter
Feb 02,2017

Net profit of Vijaya Bank rose 337.71% to Rs 230.28 crore in the quarter ended December 2016 as against Rs 52.61 crore during the previous quarter ended December 2015. Total Operating Income rose 3.59% to Rs 3137.07 crore in the quarter ended December 2016 as against Rs 3028.29 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Total Operating Income3137.073028.29 4 OPM %61.3672.89 - PBDT271.48125.42 116 PBT271.48125.42 116 NP230.2852.61 338

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Future Enterprises reports standalone net loss of Rs 41.64 crore in the December 2016 quarter
Feb 02,2017

Net loss of Future Enterprises reported to Rs 41.64 crore in the quarter ended December 2016 as against net profit of Rs 220.88 crore during the previous quarter ended December 2015. Sales declined 71.08% to Rs 944.73 crore in the quarter ended December 2016 as against Rs 3266.32 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales944.733266.32 -71 OPM %24.569.48 - PBDT118.44386.69 -69 PBT-42.22231.48 PL NP-41.64220.88 PL

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Take Solutions consolidated net profit rises 34.26% in the December 2016 quarter
Feb 02,2017

Net profit of Take Solutions rose 34.26% to Rs 32.21 crore in the quarter ended December 2016 as against Rs 23.99 crore during the previous quarter ended December 2015. Sales rose 38.45% to Rs 343.05 crore in the quarter ended December 2016 as against Rs 247.78 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales343.05247.78 38 OPM %18.8120.29 - PBDT62.0047.81 30 PBT38.7429.04 33 NP32.2123.99 34

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Redington India consolidated net profit rises 5.65% in the December 2016 quarter
Feb 02,2017

Net profit of Redington India rose 5.65% to Rs 118.23 crore in the quarter ended December 2016 as against Rs 111.91 crore during the previous quarter ended December 2015. Sales rose 21.73% to Rs 10960.83 crore in the quarter ended December 2016 as against Rs 9004.27 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales10960.839004.27 22 OPM %2.062.33 - PBDT199.91172.98 16 PBT185.72161.51 15 NP118.23111.91 6

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Rupee widens gains
Feb 02,2017

Rupee closed higher at 67.3675/3775 per dollar on Thursday (02 February 2017), versus its previous close of 67.4750/4800 per dollar.

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Heritage Foods wins IMAGES Most Admired Food & Grocery Retailer of the Year - Regional Supermarket
Feb 02,2017

Heritage Foods announced that its Retail Division has been awarded IMAGES Most Admired Food & Grocery Retailer of the Year - Regional Supermarket at the 10th annual mega congregation of Indian Food Forum on 20 January 2017, the Coca Cola Golden Spoon Awards. Heritage Foods won this award in 2015 and 2016 as well.

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FPIs make small purchases of shares
Feb 02,2017

Foreign portfolio investors (FPIs) bought stocks worth a net Rs 44.73 crore from the secondary equity markets yesterday, 1 February 2017, compared with their net outflow of Rs 444.19 crore during the preceding trading session on 31 January 2017.

The net inflow of Rs 44.73 crore on 1 February 2017 was a result of gross purchases of Rs 5446.01 crore and gross sales of Rs 5401.28 crore. On that day, the Sensex jumped 485.68 points or 1.76% to settle at 28,141.64, its highest closing level since 24 October 2016.

There was a net inflow of Rs 30.05 crore into the category primary market & others on 1 February 2017, which was a result of gross purchases of Rs 30.35 crore and gross sales of Rs 0.30 crore.

FPIs have sold stocks worth a net Rs 1714.59 crore in calendar year 2017 so far (till 1 February 2017). They sold stocks worth a net Rs 1315.13 crore in January 2017. FPIs had purchased shares worth a net Rs 12094.42 crore from the secondary equity markets in calendar year 2016.

There has been a net inflow of Rs 1063.84 crore from FPIs into the category primary market & others in calendar year 2017 so far (till 1 February 2017). There was a net inflow of Rs 138.53 crore from FPIs into the category primary market & others in January 2017. The net inflow from FPIs into category primary markets & others had totaled Rs 8471.76 crore in calendar year 2016.

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Board of IKAB Securities & Investment to consider December quarter results
Feb 02,2017

IKAB Securities & Investment announced that the meeting of the Board of Directors is being convened on 13 February 2017, inter alia, to transact, the following business:

- Consideration of unaudited Financial Results for the last quarter ended 31 December 2016.

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Board of Oasis Securities to consider December quarter results
Feb 02,2017

Oasis Securities announced that the meeting of the Board of Directors is being convened on 13 February 2017, inter alia, to transact, the following business:

- Consideration of unaudited Financial Results for the last quarter ended 31 December 2016.

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Saffron Industries to announce December quarter results
Feb 02,2017

Saffron Industries announced that the Meeting of the Board of Directors of the Company is convened on 14 February 2017, inter alia, to approve and take on record the Unaudited Financial Results (Provisional) of the Company for the quarter ended 31 December 2016.

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Involvement of Private Sector in Nuclear Power Generation
Feb 02,2017

Proposals for setting up of ten indigenous Pressurised Heavy Water Reactors each of 700 MW and two Light Water Reactors each of 1000 MW (Kudankulam Units-5&6) with foreign cooperation have been prepared and finalised. These are presently under consideration of the Government for accord of administrative approval and financial sanction.

Presently two Central Public Sector Enterprises viz. Nuclear Power Corporation of India (NPCIL) and Bharatiya Nabhikiya Vidyut Nigam (BHAVINI) are involved in nuclear power generation. In addition, the Government has amended the Atomic Energy Act, 1962 to facilitate establishment of Joint Venture Companies (JVC) by NPCIL with other Central Public Sector Undertakings to set up nuclear power plants.

Government does not propose to allow private sector to enter into the nuclear power sector.

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Balurghat Technologies to consider December quarter results
Feb 02,2017

Balurghat Technologies announced that a meeting of the Board of Directors of the Company will be held on 13 February 2017, inter alia, to consider and take on record the unaudited financial results for the quarter ended 31 December 2016.

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Board of Anjani Portland Cement to consider Q3 and 9M results
Feb 02,2017

Anjani Portland Cement announced that a Meeting of the Board of Directors of the Company is scheduled to be held on 14 February 2017, inter alia, to consider and approve the Unaudited Financial Results of the Company for the quarter and nine months ended on 31 December 2016.

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Board of Hisar Spinning Mills to consider Q3 and 9M results
Feb 02,2017

Hisar Spinning Mills announced that a meeting of the Board of Directors of the Company will be held on 14 February 2017, inter alia, to consider and approve the un-audited financial results of the Company for the quarter & nine months ended on 31 December 2016.

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Board of Ravikumar Distilleries to consider Q3 and 9M results
Feb 02,2017

Ravikumar Distilleries announced that the Meeting of the Board of Directors of the Company will be held on 11 February 2017, inter alia, to transact the following business:

- To consider and approve the Un-Audited Financial Results of the company for the quarter and nine months ended 31 December 2016 along with the Limited Review Report.

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