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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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Cambridge Technology Enterprises consolidated net profit rises 32.14% in the September 2016 quarter
Nov 08,2016

Net profit of Cambridge Technology Enterprises rose 32.14% to Rs 3.70 crore in the quarter ended September 2016 as against Rs 2.80 crore during the previous quarter ended September 2015. Sales rose 63.88% to Rs 25.32 crore in the quarter ended September 2016 as against Rs 15.45 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales25.3215.45 64 OPM %22.3117.28 - PBDT5.832.95 98 PBT4.891.56 213 NP3.702.80 32

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EID Parry (India) reports consolidated net profit of Rs 126.15 crore in the September 2016 quarter
Nov 08,2016

Net profit of EID Parry (India) reported to Rs 126.15 crore in the quarter ended September 2016 as against net loss of Rs 4.00 crore during the previous quarter ended September 2015. Sales rose 6.47% to Rs 4598.11 crore in the quarter ended September 2016 as against Rs 4318.80 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales4598.114318.80 6 OPM %9.935.74 - PBDT398.73194.47 105 PBT336.52130.31 158 NP126.15-4.00 LP

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Cambridge Technology Enterprises standalone net profit declines 57.83% in the September 2016 quarter
Nov 08,2016

Net profit of Cambridge Technology Enterprises declined 57.83% to Rs 1.05 crore in the quarter ended September 2016 as against Rs 2.49 crore during the previous quarter ended September 2015. Sales rose 29.05% to Rs 9.24 crore in the quarter ended September 2016 as against Rs 7.16 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales9.247.16 29 OPM %15.1522.35 - PBDT1.801.99 -10 PBT1.571.25 26 NP1.052.49 -58

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Surya Industrial Corporation standalone net profit rises 75.00% in the September 2016 quarter
Nov 08,2016

Net profit of Surya Industrial Corporation rose 75.00% to Rs 0.14 crore in the quarter ended September 2016 as against Rs 0.08 crore during the previous quarter ended September 2015. Sales rose 96.30% to Rs 25.46 crore in the quarter ended September 2016 as against Rs 12.97 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales25.4612.97 96 OPM %0-0.39 - PBDT0.140.08 75 PBT0.140.08 75 NP0.140.08 75

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Universal Credit & Securities standalone net profit rises 100.00% in the September 2016 quarter
Nov 08,2016

Net profit of Universal Credit & Securities rose 100.00% to Rs 0.02 crore in the quarter ended September 2016 as against Rs 0.01 crore during the previous quarter ended September 2015. Sales declined 38.78% to Rs 0.30 crore in the quarter ended September 2016 as against Rs 0.49 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales0.300.49 -39 OPM %6.674.08 - PBDT0.020.02 0 PBT0.020.02 0 NP0.020.01 100

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Palred Technologies reports consolidated net loss of Rs 2.77 crore in the September 2016 quarter
Nov 08,2016

Net Loss of Palred Technologies reported to Rs 2.77 crore in the quarter ended September 2016 as against net loss of Rs 5.36 crore during the previous quarter ended September 2015. Sales rose 20.79% to Rs 10.11 crore in the quarter ended September 2016 as against Rs 8.37 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales10.118.37 21 OPM %-33.43-87.34 - PBDT-3.04-6.72 55 PBT-3.21-6.83 53 NP-2.77-5.36 48

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Varun Beverages slips below issue price on debut
Nov 08,2016

Meanwhile, the S&P BSE Sensex was down 13.02 points or 0.05% at 27,445.97.

On BSE, so far 13.69 lakh shares were traded in the counter. The stock made its debut on the bourses at Rs 430, a discount of 3.37% compared with its initial public offer (IPO) of Rs 445 per share. The stock hit a high of Rs 444 and a low of Rs 417.10 so far during the day.

The IPO of Varun Beverages saw moderate response from investors. The IPO was subscribed 1.86 times. The issue price was fixed at top end of the price band of Rs 440 to Rs 445 per share.

Promoted by Ravi Kant Jaipuria, Varun Beverages is one of the largest franchisee in the world (outside USA) of carbonated soft drinks (CSD) and noncarbonated beverages (NCB) sold under trademarks owned by PepsiCo. It produces and distributes a wide range of CSD as well as a large selection of NCB including packaged drinking water.

On a consolidated basis, Varun Beverages reported a 22.09% rise in net profit at Rs 213.50 crore on 13.34% growth in net sales to Rs 2529.70 crore in the six months ended June 2016 over the corresponding previous period.

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DebtFX: US Presidential Elections in Focus
Nov 08,2016

Both global and domestic markets are likely to be singularly focused on the outcome of US presidential elections, to be held on 8 November 2016, says India Ratings and Research (Ind-Ra). Domestically, currency and debt markets are likely to take cues from global developments, amid this otherwise data-light week. The 10-year G-sec yield could trade at 6.78%-6.89% (6.82% at close on 4 November 2016). The rupee is likely to trade at 66.50/USD-67.30/USD (66.71/USD at close on 4 November 2016).

Risk-Off Sentiments Trigger Market Correction: The keenly awaited US elections will set the tone for the markets this week. In the run-up to elections, both equity and debt markets have corrected as both lead candidates have close possibilities to win the elections. Additionally, uncertainties over timeline and modalities of Brexit have kept investors sentiments cautious. This is evident in the recent appreciation of Swiss franc and Japanese yen, which are largely viewed by investors as a safe haven to hedge against the US dollar volatilities.

Bond Yields to Remain Anchored: Governments upcoming repurchase auction (INR150bn) will alleviate some pressure on demand-supply dynamics in the debt market - as a combined gross supply of over INR410bn is scheduled this week in the form of both central and state government borrowings. Easy interbank liquidity conditions suggest limited need for durable liquidity injection, keeping scope for open market purchase operations dim in the near term. Incremental scope for yields to soften significantly from the current juncture is limited on account of two major factors (1) front-loaded open market operations by the Reserve Bank of India (2) global volatility as key events unfold.

Transmission of Global Risks to Keep Rupee under Radar: Notwithstanding the swings in major global currencies and initiation of FCNR (foreign currency non-resident) deposits redemption, the rupee has exhibited a relatively steady performance. A resurgence of risk-aversion sentiment globally will impact emerging market currencies, in general - exposing rupee to potential pressure. However, the impact is likely to be cushioned in the absence of any kneejerk and panic-selling pressure from foreign investors.

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Wipro gains after launching product
Nov 08,2016

The announcement was made after market hours yesterday, 7 November 2016.

Meanwhile, the BSE Sensex was up 47.78 points, or 0.17%, to 27,506.77.

On BSE, so far 15,648 shares were traded in the counter, compared with average daily volume of 2.09 lakh shares in the past one quarter. The stock hit a high of Rs 455.85 and a low of Rs 450.60 so far during the day. The stock hit a 52-week high of Rs 606.75 on 20 April 2016. The stock hit a 52-week low of Rs 444.25 on 11 April 2016. The stock underperformed the market over the past one month till 7 November 2016, falling 5.38% compared with Sensexs 2.15% decline. The scrip also underperformed the market in past one quarter, dropping 17.23% as against Sensexs 2.21% fall.

The large-cap company has equity capital of Rs 486.16 crore. Face value per share is Rs 2.

Wipro said that the Open application programming interface (API) platform will enable banks and financial institutions to launch Open Banking initiatives and create new forms of distribution channels and servicing capabilities, provide access to third-party application marketplaces, and comply with emerging regulatory norms through the standardization of APIs. Open Banking is an emerging trend in financial technology that uses Open APIs to enable third party developers build applications and services around a financial institution.

It facilitates greater financial transparency and helps financial institutions innovate and create new revenue models. Open Banking has been gaining significant momentum across the globe, especially in the European banking industry - driven by changing regulatory mandates. Revised Directive on Payment Services (PSD2), is one such regulatory mandate that aims to standardize, integrate and improve payment efficiency in the European Union.

Wipro expects a large number of banks and financial institutions to adopt Open Banking initiatives to conform with evolving banking regulations, meet customers digital expectations, and stay ahead in an increasingly competitive FinTech industry. These are transforming the way banks approach products and distribution, it added.

Wipros consolidated net profit rose 0.9% to Rs 2070.40 crore on 1.45% rise in net sales to Rs 13896.80 crore in Q2 September 2016 over Q1 June 2016.

Wipro is a leading information technology, consulting and business process services company that delivers solutions to enable its clients do business better.

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JSW Steel announces production figures
Nov 08,2016

JSW Steel reported crude steel production at 13.35 lakh tonnes in October 2016 compared to 10.22 lakh tonnes in October 2015, recording a growth of 31%.

Production of flat rolled products grew 30% to 9.58 lakh tonnes in October 2016 compared to 7.34 lakh tonnes in October 2015.

Production of long rolled products grew 36% to 2.79 lakh tonnes in October 2016 compared to 2.06 lakh tonnes in October 2015.

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JSW Steel announces production figures
Nov 08,2016

JSW Steel reported crude steel production at 13.35 lakh tonnes in October 2016 compared to 10.22 lakh tonnes in October 2015, recording a growth of 31%.

Production of flat rolled products grew 30% to 9.58 lakh tonnes in October 2016 compared to 7.34 lakh tonnes in October 2015.

Production of long rolled products grew 36% to 2.79 lakh tonnes in October 2016 compared to 2.06 lakh tonnes in October 2015.

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Rashtriya Chemicals & Fertilizers to announce Q2 and HY results
Nov 08,2016

Rashtriya Chemicals & Fertilizers announced that a meeting of the Board of Directors of the Company will be held on 18 November 2016, inter-alia, to consider and approve the Un-audited Financial Results (Standalone) for the 2nd quarter and half year ended 30 September 2016,

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Rashtriya Chemicals & Fertilizers to announce Q2 and HY results
Nov 08,2016

Rashtriya Chemicals & Fertilizers announced that a meeting of the Board of Directors of the Company will be held on 18 November 2016, inter-alia, to consider and approve the Un-audited Financial Results (Standalone) for the 2nd quarter and half year ended 30 September 2016,

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Outcome of board meeting of EID Parry (India)
Nov 08,2016

EID Parry (India) announced that the Board of Directors of the Company at its meeting held on 07 November 2016, inter alia, has approved the following:

a. Alteration to the Articles of Association (Articles) of the Company by replacing the existing Articles with a new Articles, to bring it in line with the provisions / requirement of the Companies Act, 2013, subject to approval of the Shareholders through postal ballot.

b. Employee Stock Option Plan 2016 (ESOP 2016) for grant of employee stock options to eligible employees pursuant to the provisions of SEBI (Share Based Employee Benefits) Regulations, 2014 subject to the approval of the shareholders through postal ballot.

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Modern Steels reports standalone net loss of Rs 2.83 crore in the September 2016 quarter
Nov 08,2016

Net Loss of Modern Steels reported to Rs 2.83 crore in the quarter ended September 2016 as against net loss of Rs 0.96 crore during the previous quarter ended September 2015. Sales rose 17.91% to Rs 81.42 crore in the quarter ended September 2016 as against Rs 69.05 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales81.4269.05 18 OPM %4.525.30 - PBDT-1.49-2.27 34 PBT-2.83-3.63 22 NP-2.83-0.96 -195

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