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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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Bajaj Steel Industries reports standalone net loss of Rs 2.34 crore in the September 2016 quarter
Nov 10,2016

Net loss of Bajaj Steel Industries reported to Rs 2.34 crore in the quarter ended September 2016 as against net profit of Rs 5.07 crore during the previous quarter ended September 2015. Sales declined 15.66% to Rs 68.55 crore in the quarter ended September 2016 as against Rs 81.28 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales68.5581.28 -16 OPM %3.1911.97 - PBDT0.438.70 -95 PBT-2.345.66 PL NP-2.345.07 PL

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Jamna Auto Industries consolidated net profit rises 37.25% in the September 2016 quarter
Nov 10,2016

Net profit of Jamna Auto Industries rose 37.25% to Rs 21.00 crore in the quarter ended September 2016 as against Rs 15.30 crore during the previous quarter ended September 2015. Sales declined 13.40% to Rs 270.56 crore in the quarter ended September 2016 as against Rs 312.43 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales270.56312.43 -13 OPM %12.8811.46 - PBDT38.0633.96 12 PBT26.9122.18 21 NP21.0015.30 37

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Apprehensions on Trump to prove wrong; India Inc hails his victory: ASSOCHAM
Nov 10,2016

With his sober, very fair sounding and statesman like demeanor promising a fair deal with the rest of the world, ASSOCHAM expressed confidence that apprehensions linked to Donald Trump would certainly prove wrong even as India Inc looks forward to taking the bilateral economic engagement to a greater level under the new administration.

n++We saw a different Trump who as President elect of the United States of America sounded so conciliatory and sober promising a fair deal with the rest of the world. His words appeared so convincing that the financial markets which were nervous in the beginning recovered quite a ground rightly hoping that the Republican inmate of the White House has a great plan for America up his sleeven++, ASSOCHAM President Sunil Kanoria said in a statement.

He said India Inc can join hands with the Trump Administration in building of the US infrastructure projects. The Indian industry has always been a great companion for the US industries in terms of enhancing value even to the American jobs. A great number of Indian companies servicing the US have been employing the local Americans even as they add to the value proposition in their businesses.

Some of the losses in the Sensex and the currency volatility have also been made up as the world would digest rather happily the new fast changing US political landscape. n++To that extent, we Indians have to enhance our soft power and be counted as a country which complements the US. Change is the name of the game and status quo is getting challenged all over. The key lies in adapting it fast,n++ the ASSOCHAM President said.

As for the local factors having an impact on the financial markets, Kanoria expressed hope that the disruptions to the trade would settle once the banks are geared up to meet the demand for currency swap.

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Larsen & Toubro Infotech announces change in directorate and company secretary
Nov 10,2016

Larsen & Toubro Infotech announced change in directorate approved at the Board meeting on 09 November 2016 -

Sanjeev Aga appointed as Non Executive Independent Director with effect from 09 November 2016.

Sudhir Chaturvedi appointed as Whole Time Director with effect from 09 November 2016.

Aftab Ziad Ullah appointed as Whole Time Director with effect from 09 November 2016.

Appointed Rajesh S Narang as Company Secretary with effect from 10 November 2016 in place of Subramanya Bhatt who resigned as Company Secretary.

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Bosch rides higher on the back of stellar Q2 show
Nov 10,2016

The result was announced after market hours yesterday, 9 November 2016.

Meanwhile, the S&P BSE Sensex was up 308.44 points or 1.13% at 27,560.97.

On BSE, so far 452 shares were traded in the counter as against average daily volume of 1,776 shares in the past one quarter. The stock hit a high of Rs 22,310 and a low of Rs 21,685 so far during the day. The stock had hit a 52-week high of Rs 25,649.95 on 10 August 2016. The stock had hit a 52-week low of Rs 15,752.65 on 12 February 2016. The stock underperformed the market over the past one month till 9 November 2016, dropping 7.96% compared with the Sensexs 2.88% fall. The scrip also underperformed the market in past one quarter, declining 15.93% as against the Sensexs 2.96% decline.

The large-cap company has equity capital of Rs 31.40 crore. Face value per share is Rs 10.

Bosch announced that the board of directors yesterday, 9 November 2016, approved with effect from 1 January 2017, resignation of Dr. Steffen Berns, Managing Director consequent to assuming new position in Robert Bosch, Germany. The board redesignated Soumitra Bhattacharya, Joint Managing Director as Managing Director of the company from 1 January 2017 to 20 June 2020.

In India, Bosch is a leading supplier of technology and services in the areas of mobility solutions, industrial technology, consumer goods, and energy and building technology. Bosch is the flagship company of the Bosch Group in India. Robert Bosch GMBH holds 70.49% stake in the firm as on 28 October 2016.

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Advance Syntex to announce HY results
Nov 10,2016

Advance Syntex announced that the Meeting of the Board of Directors of the Company is scheduled to be held on 14 November 2016, to consider and approve Unaudited Financial Results for the Half Year ended 30 September 2016.

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Dish TV India shifts registered office
Nov 10,2016

Dish TV India announced that regarding the update on shifting of registered office of the Company from National Capital Territory of Delhi to the State of Maharashtra.

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Government suspends payment of fees on all toll plazas on National Highways till midnight of 11 November 2016
Nov 10,2016

The government has decided to suspend payment of fees at toll plazas on all National Highways till the midnight of 11 November 2016. Instructions in this regard are being issued to all the concessionaries including BOT, OMT operators and other fee collection agencies. The decision has been taken in order to avoid difficulties that may be faced by the highway users following instructions by the Ministry of Finance yesterday that currency notes of the denominations of Rs. 500 and Rs. 1000 will no longer be legal tender from 09 November 12.00 am.

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SML ISUZU concludes executio of facility agreement for term loan
Nov 10,2016

SML ISUZU announced that it has concluded the execution of facility agreement for term loan by way of external commercial borrowings with the Bank of Tokyo-Mitsubishi UFJ, Japan.

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PGCIL inches up after strong Q2 results
Nov 10,2016

The result was announced after market hours yesterday, 9 November 2016.

Meanwhile, the S&P BSE Sensex was up 322.49 points or 1.18% at 27,575.02.

On BSE, so far 82,000 shares were traded in the counter as against average daily volume of 2.13 lakh shares in the past two weeks. The stock hit a high of Rs 184.70 and a low of Rs 181.25 so far during the day. The stock had hit a record high of Rs 187.70 on 6 September 2016. The stock had hit a 52-week low of Rs 126.70 on 9 November 2015. The stock had outperformed the market over the past one month till 9 November 2016, gaining 1.95% compared with 2.88% fall in the Sensex. The scrip had also outperformed the market in past one quarter, advancing 2.56% as against Sensexs 2.96% fall.

The large-cap company has equity capital of Rs 5231.59 crore. Face value per share is Rs 10.

Power Grid Corporation of India is a state run electric power transmission utility company. The Government of India holds 57.9% stake in the firm as at 30 September 2016.

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Snowman Logistics reports standalone net loss of Rs 8.32 crore in the September 2016 quarter
Nov 10,2016

Net loss of Snowman Logistics reported to Rs 8.32 crore in the quarter ended September 2016 as against net profit of Rs 2.87 crore during the previous quarter ended September 2015. Sales declined 15.07% to Rs 47.40 crore in the quarter ended September 2016 as against Rs 55.81 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales47.4055.81 -15 OPM %8.9519.51 - PBDT1.759.37 -81 PBT-8.322.15 PL NP-8.322.87 PL

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Shriram EPC reports standalone net loss of Rs 55.03 crore in the September 2016 quarter
Nov 10,2016

Net Loss of Shriram EPC reported to Rs 55.03 crore in the quarter ended September 2016 as against net loss of Rs 17.43 crore during the previous quarter ended September 2015. Sales declined 22.57% to Rs 80.09 crore in the quarter ended September 2016 as against Rs 103.44 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales80.09103.44 -23 OPM %2.1729.57 - PBDT-53.49-15.99 -235 PBT-55.03-17.43 -216 NP-55.03-17.43 -216

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Ramco Systems standalone net profit rises 555.02% in the September 2016 quarter
Nov 10,2016

Net profit of Ramco Systems rose 555.02% to Rs 13.69 crore in the quarter ended September 2016 as against Rs 2.09 crore during the previous quarter ended September 2015. Sales rose 16.93% to Rs 73.61 crore in the quarter ended September 2016 as against Rs 62.95 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales73.6162.95 17 OPM %40.2422.84 - PBDT29.0614.38 102 PBT17.413.03 475 NP13.692.09 555

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Power Grid Corporation of India standalone net profit rises 32.01% in the September 2016 quarter
Nov 10,2016

Net profit of Power Grid Corporation of India rose 32.01% to Rs 1872.00 crore in the quarter ended September 2016 as against Rs 1418.03 crore during the previous quarter ended September 2015. Sales rose 28.49% to Rs 6229.55 crore in the quarter ended September 2016 as against Rs 4848.16 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales6229.554848.16 28 OPM %89.8988.73 - PBDT4237.683246.57 31 PBT2360.821798.73 31 NP1872.001418.03 32

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Ansal Housing & Construction standalone net profit declines 58.72% in the September 2016 quarter
Nov 10,2016

Net profit of Ansal Housing & Construction declined 58.72% to Rs 1.61 crore in the quarter ended September 2016 as against Rs 3.90 crore during the previous quarter ended September 2015. Sales declined 39.69% to Rs 67.43 crore in the quarter ended September 2016 as against Rs 111.80 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales67.43111.80 -40 OPM %20.1116.57 - PBDT3.196.83 -53 PBT2.606.02 -57 NP1.613.90 -59

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