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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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Continental Securities to hold board meeting
May 26,2017

Continental Securities will hold a meeting of the Board of Directors of the Company on 29 May 2017.

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Quasar India to hold board meeting
May 26,2017

Quasar India will hold a meeting of the Board of Directors of the Company on 30 May 2017, to consider, approve and adopt the Audited Financial Results of the company for the Quarter and financial year ended March 31, 2017.

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Vantage Knowledge Academy to hold board meeting
May 26,2017

Vantage Knowledge Academy will hold a meeting of the Board of Directors of the Company on 30 May 2017, to consider and take on record the Audited Financial Results of the Company for the Quarter and Year ended 31st March 2017.

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Sirohia & Sons to hold board meeting
May 26,2017

Sirohia & Sons will hold a meeting of the Board of Directors of the Company on 29 May 2017, to consider, approve and adopt the Audited Financial Results of the company for the Quarter and financial year ended March 31, 2017.

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After GST regime, telecom companies would be required to re-work their costing and credits availability and re-jig their prices
May 26,2017

Telecommunication services presently attract Service Tax of 14% along with Swachh Bharat Cess (SBC) of 0.5% and Krishi Kalyan Cess (KKC) of 0.5%. While Service Tax is a pure value added tax, the above mentioned cesses are not. This is the reason that while no ITC (Input Tax Credit) of SBC is available, the ITC of KKC is allowed to be set-off only against KKC. Therefore, both the cesses are turn-over tax.

As against the above, the Telecommunication Services will attract GST of 18% in the GST regime, which is a pure Value Added Tax because full ITC of Inputs and Input Services used in the course or furtherance of business by the telecommunication service providers would be available.

Moreover, presently Telecom Service providers are neither eligible for credit of VAT paid on goods nor of Special Additional Duty (SAD) paid on imported goods/equipments. However, under GST, Telecom Service Providers would avail credit of IGST paid on domestically procured goods as also imported goods. As per some estimates, this additional Input Tax Credit would be as much as 2% of the turnover of the telecom industry. Further, ITC of Service Tax paid on assignment of spectrum by the Government in 2016 is presently allowed to be availed of by the telecommunication companies over a period of 3 years. In the GST regime, the entire credit can be taken in the same year. Resultantly, the balance two-third credit of the previous year would be admissible in the Current Financial Year itself. All of these would reduce the telecom companies liability to pay GST through cash to about 87% of what they paid in the last fiscal.

Thus, the telecom companies are required to re-work their costing and credits availability and re-jig their prices and ensure that the increased availability of credit is passed on to the customers by lowering their costs.

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Sunstar Realty Development to hold board meeting
May 26,2017

Sunstar Realty Development will hold a meeting of the Board of Directors of the Company on 30 May 2017, to take on record the Audited Financial Results for the Half year and Financial Year ended March, 31st 2017.

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Haria Apparels to hold board meeting
May 26,2017

Haria Apparels will hold a meeting of the Board of Directors of the Company on 30 May 2017, to take on record the Audited Financial Results for the 4th Quarter/Twelve months ended March, 31st 2017.

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RJ Bio-Tech to hold board meeting
May 26,2017

RJ Bio-Tech will hold a meeting of the Board of Directors of the Company on 30 May 2017, to take on record the Audited Financial Results for the Half year March, 31st 2017.

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Board of Cinerad Communications does not declare dividend
May 26,2017

Cinerad Communications announced that the Board of Directors of the Company at its meeting held on 26 May 2017 have not declared dividend and there was no decision to buy back of shares of the Company.

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CHL reports consolidated net loss of Rs 7.82 crore in the March 2017 quarter
May 26,2017

Net loss of CHL reported to Rs 7.82 crore in the quarter ended March 2017 as against net profit of Rs 1.14 crore during the previous quarter ended March 2016. Sales rose 69.52% to Rs 22.02 crore in the quarter ended March 2017 as against Rs 12.99 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 23.69 crore in the year ended March 2017 as against net loss of Rs 13.84 crore during the previous year ended March 2016. Sales rose 15.57% to Rs 75.93 crore in the year ended March 2017 as against Rs 65.70 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales22.0212.99 70 75.9365.70 16 OPM %21.3938.72 -17.349.10 - PBDT0.431.86 -77 -2.51-7.58 67 PBT-6.032.81 PL -20.01-21.76 8 NP-7.821.14 PL -23.69-13.84 -71

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Swagtam Trading & Services reports standalone net profit of Rs 0.05 crore in the March 2017 quarter
May 26,2017

Net profit of Swagtam Trading & Services reported to Rs 0.05 crore in the quarter ended March 2017. There were no net profit/loss reported during the previous quarter ended March 2016. Sales rose 40.00% to Rs 0.07 crore in the quarter ended March 2017 as against Rs 0.05 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 0.03 crore in the year ended March 2017. There were no net profit/loss reported during the previous year ended March 2016. Sales declined 60.00% to Rs 0.16 crore in the year ended March 2017 as against Rs 0.40 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales0.070.05 40 0.160.40 -60 OPM %57.140 --18.755.00 - PBDT0.050 0 -0.020.02 PL PBT0.040 0 -0.040 0 NP0.050 0 -0.030 0

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Meenakshi Enterprises reports standalone net profit of Rs 2.11 crore in the March 2017 quarter
May 26,2017

Net profit of Meenakshi Enterprises reported to Rs 2.11 crore in the quarter ended March 2017 as against net loss of Rs 0.75 crore during the previous quarter ended March 2016. Sales rose 27.46% to Rs 1.81 crore in the quarter ended March 2017 as against Rs 1.42 crore during the previous quarter ended March 2016.

For the full year,net profit reported to Rs 0.16 crore in the year ended March 2017 as against net loss of Rs 0.68 crore during the previous year ended March 2016. Sales rose 34.47% to Rs 2.77 crore in the year ended March 2017 as against Rs 2.06 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales1.811.42 27 2.772.06 34 OPM %120.44-54.93 -9.03-32.04 - PBDT2.17-0.78 LP 0.24-0.66 LP PBT2.17-0.79 LP 0.22-0.68 LP NP2.11-0.75 LP 0.16-0.68 LP

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Canopy Finance reports standalone net loss of Rs 0.03 crore in the March 2017 quarter
May 26,2017

Net Loss of Canopy Finance reported to Rs 0.03 crore in the quarter ended March 2017 as against net loss of Rs 0.08 crore during the previous quarter ended March 2016. Sales declined 80.00% to Rs 0.02 crore in the quarter ended March 2017 as against Rs 0.10 crore during the previous quarter ended March 2016.

For the full year,net profit reported to Rs 0.02 crore in the year ended March 2017 as against net loss of Rs 0.10 crore during the previous year ended March 2016. Sales declined 58.93% to Rs 0.23 crore in the year ended March 2017 as against Rs 0.56 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales0.020.10 -80 0.230.56 -59 OPM %-150.00-80.00 -8.70-17.86 - PBDT-0.03-0.08 63 0.02-0.10 LP PBT-0.03-0.08 63 0.02-0.10 LP NP-0.03-0.08 63 0.02-0.10 LP

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West Leisure Resorts reports standalone net profit of Rs 0.01 crore in the March 2017 quarter
May 26,2017

Net profit of West Leisure Resorts reported to Rs 0.01 crore in the quarter ended March 2017 as against net loss of Rs 0.02 crore during the previous quarter ended March 2016. Sales declined 25.00% to Rs 0.03 crore in the quarter ended March 2017 as against Rs 0.04 crore during the previous quarter ended March 2016.

For the full year,net profit reported to Rs 0.02 crore in the year ended March 2017. There were no net profit/loss reported during the previous year ended March 2016. Sales declined 37.93% to Rs 0.18 crore in the year ended March 2017 as against Rs 0.29 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales0.030.04 -25 0.180.29 -38 OPM %0-75.00 -5.566.90 - PBDT0-0.03 100 0.010.02 -50 PBT0-0.03 100 0.010.02 -50 NP0.01-0.02 LP 0.020 0

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Asahi Songwon Colors standalone net profit rises 37.30% in the March 2017 quarter
May 26,2017

Net profit of Asahi Songwon Colors rose 37.30% to Rs 8.76 crore in the quarter ended March 2017 as against Rs 6.38 crore during the previous quarter ended March 2016. Sales rose 14.72% to Rs 70.47 crore in the quarter ended March 2017 as against Rs 61.43 crore during the previous quarter ended March 2016.

For the full year,net profit rose 19.26% to Rs 25.02 crore in the year ended March 2017 as against Rs 20.98 crore during the previous year ended March 2016. Sales rose 14.76% to Rs 257.84 crore in the year ended March 2017 as against Rs 224.67 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales70.4761.43 15 257.84224.67 15 OPM %15.2420.45 -18.2617.67 - PBDT12.8312.16 6 44.6138.10 17 PBT11.0310.45 6 37.4831.39 19 NP8.766.38 37 25.0220.98 19

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