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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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Rasoya Proteins announces resignation of company secretary
Feb 01,2017

Rasoya Proteins announced that Sneha Shrivastava, Company Secretary and Compliance Officer of the Company has resigned from the post with effect from 01 February 2017.

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Rasoya Proteins announces resignation of company secretary
Feb 01,2017

Rasoya Proteins announced that Sneha Shrivastava, Company Secretary and Compliance Officer of the Company has resigned from the post with effect from 01 February 2017.

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Apar Industries intimates of commencement of production at Petroleum Speciality FZE
Feb 01,2017

Apar Industries announced that Petroleum Speciality FZE situated at Hamriyah Free Zone, Sharjah, UAE, which is 100% Subsidiary of Petroleum Speciality, Singapore (PSPL), has started production. PSPL is a 100% subsidiary of the Company.

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Apar Industries intimates of commencement of production at Petroleum Speciality FZE
Feb 01,2017

Apar Industries announced that Petroleum Speciality FZE situated at Hamriyah Free Zone, Sharjah, UAE, which is 100% Subsidiary of Petroleum Speciality, Singapore (PSPL), has started production. PSPL is a 100% subsidiary of the Company.

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Mahindra & Mahindra announces tractor sales figures
Feb 01,2017

Mahindra & Mahindras farm equipment sector business reported total sales of 15909 tractors in January 2017 compared to 15065 tractors in January 2016, recording a growth of 6%. Total sales included domestic sales of 14776 tractors and exports of 1133 tractors, recording growth of 3% and 71% respectively over January 2016. Cumulative sales stood higher by 23% at 228648 tractors compared to corresponding period of previous year.

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Mahindra & Mahindra announces sales figures
Feb 01,2017

Mahindra & Mahindra reported total sales at 39303 units in January 2017 compared to 43789 units in January 2016, recording a decline of 10%. Total sales included domestic sales at 37042 units and exports at 2261 units, declining 9% and 27% respectively over January 2015. For the period April-January, total sales stood at 407880 units, recording a growth of 3% over corresponding period of previous year.

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Supreme Holdings & Hospitality announces resignation of director
Feb 01,2017

Supreme Holdings & Hospitality announced that RGN Swamy, Chairman and Independent Director of the Company has resigned from the Board of Directors of the Company with effect from 01 February 2017. RGN Swamy has cited ill-health as the reason for his stepping down.

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FPIs in selling mode
Feb 01,2017

Foreign portfolio investors (FPIs) sold stocks worth a net Rs 444.19 crore into the secondary equity markets yesterday, 31 January 2017, compared with their net inflow of Rs 650.19 crore during the preceding trading session on 30 January 2017.

The net outflow of Rs 444.19 crore on 31 January 2017 was a result of gross purchases of Rs 4646.64 crore and gross sales of Rs 5090.83 crore. On that day, the Sensex lost 193.60 points or 0.70% to settle at 27,655.96, its lowest closing level since 24 January 2017.

There was a net inflow of Rs 895.26 crore into the category primary market & others on 31 January 2017, which was a result of gross purchases of Rs 895.84 crore and gross sales of Rs 0.58 crore.

FPIs have sold stocks worth a net Rs 1315.13 crore in January 2017. They had sold stocks worth a net Rs 8960.36 crore into the secondary equity markets in December 2016. 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 138.53 crore from FPIs into the category primary market & others in January 2017. There was a net inflow of Rs 784.07 crore from FPIs into the category primary market & others in December 2016. The net inflow from FPIs into category primary markets & others had totaled Rs 8471.76 crore in calendar year 2016.

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Kalyani Forge
Feb 01,2017

For the quarter ended Dec16, Kalyani Forge registered a 2% increase in net sales to Rs 56.05 crore. OPM was higher by 80 bps to 8.5% resulting in a 13% increase in OP to Rs 4.77 crore. Other income was up by 2% to Rs 1.01 crore. Interest costs was lower by 20% to Rs 0.87 crore and depreciation was lower by 13% to Rs 2.51 crore. PBT stood at Rs 2.40 crore, up by 95%. After paying total tax of Rs 0.68 crore, up by 66% YoY, PAT for the Dec16 quarter stood at Rs 1.72 crore, up by 110% YoY.

Performance for the 9 months ended Dec16

For the 9 months ended Dec16, net sales stood at Rs 172.14 crore down by 2% YoY. OPM stood at 9.4% up by 140 bps resulting in a 14% increase in OP to Rs 16.10 crore. Other income was lower by 26% to Rs 1.41 crore. Interest cost is lower by 13% to Rs 3.01 crore. Depreciation was lower by 11% to Rs 7.86 crore. PBT was higher by 77% to Rs 6.64 crore. Total tax stood at Rs 2.11 crore up by 52%. PAT for 9 months ended Dec16 stood at Rs 4.53 crore.

Kalyani Forge : Standalone Results

 1612(03)1512(03)Var. (%)1612(09)1512(09)Var. (%)1603(12)1503(12)Var. (%)Net Sales56.0554.942172.14176.09-2230.93242.08-5OPM (%)8.5%7.7%9.4%8.0%6.6%6.3%Operating Profits4.774.221316.1014.151415.3315.161Other Income1.010.9921.411.91-262.830.78263PBDIT5.785.211117.5116.06918.1615.9414Interest0.871.09-203.013.47-134.455.82-24PBDT4.914.121914.5012.591513.7110.1235Depreciation2.512.89-137.868.84-1111.6713.10-11PBT before EO2.401.23956.643.75772.04-2.98LPEO 0.000.0000.000.0000.000.000PBT after EO2.401.23956.643.75772.04-2.98LPTax Expense0.680.41662.111.39520.94-0.72PLPAT1.720.821104.532.36921.10-2.26LPEPS* (Rs.)####3.0-*Annualised on Equity Share Capital Rs 3.64 crore; Face value Rs 10
# EPS not annualised due to seasonality of business
EO: Extraordinary items
EPS is calculated after excluding EO and relevant tax
PL: Profit to Loss, LP: Loss to Profit
Figures in crore, Source: Capitaline Database

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Wipro joins the Industrial Internet Consortium
Feb 01,2017

Wipro announced that it has joined the Industrial Internet Consortium, the global, member supported organisation that promotes the accelerated growth of the Industrial Internet of Things. This membership provides Wipro the opportunity to engage and innovate with multi-partner testbeds and adopt the best practices to drive digital transformation for customers.

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Kandagiri Spinning Mills completes sale of its wind assets
Feb 01,2017

Kandagiri Spinning Mills announced that in continuation of the approval obtained from shareholders by passing special resolution through postal ballot for sale of Wind Energy Generators and part of remaining assets of the Company and further obtaining other necessary approvals, sale of Companys Wind Energy Generators (situated at Tirunelveli district and having capacity of 9.9 MW electricity generation) completed on 31 January 2017 for total sale consideration of Rs. 27.10 crore to the buyers viz., Kumaran Filaments, Nagercoil, Arul Steels, Coimbatore, Raju & Co., Coimbatore, Saravana Spinning Mills, Dindigul, PKP Wind Power, Palladam, RAN Energy, Coimbatore and the buyers do not belong to promoter/promoter group/group companies.

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SML ISUZU announces sales figures
Feb 01,2017

SML ISUZU reported total sales of 1002 units in January 2017 compared to 838 units in January 2016, a growth of 19.6%. For the period April - January, total sales rose 19% to 11945 units compared to corresponding period of previous year.

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Viceroy Hotels announces resignation of company secretary
Feb 01,2017

Viceroy Hotels announced that Yedlapati Karuna Priyadarshini, Company Secretary of the Company has resigned from the position of Company Secretary effective from closing hours of 31 January 2017 and consequent to her resignation she ceased to be the Compliance officer of the Company.

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Apar Industries standalone net profit rises 54.44% in the December 2016 quarter
Feb 01,2017

Net profit of Apar Industries rose 54.44% to Rs 43.29 crore in the quarter ended December 2016 as against Rs 28.03 crore during the previous quarter ended December 2015. Sales declined 4.63% to Rs 1125.98 crore in the quarter ended December 2016 as against Rs 1180.64 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales1125.981180.64 -5 OPM %9.447.13 - PBDT77.3652.37 48 PBT66.0742.84 54 NP43.2928.03 54

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Kaya reports standalone net loss of Rs 5.45 crore in the December 2016 quarter
Feb 01,2017

Net Loss of Kaya reported to Rs 5.45 crore in the quarter ended December 2016 as against net loss of Rs 1.84 crore during the previous quarter ended December 2015. Sales declined 4.75% to Rs 45.67 crore in the quarter ended December 2016 as against Rs 47.95 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales45.6747.95 -5 OPM %-12.09-4.46 - PBDT-2.740.64 PL PBT-5.45-1.84 -196 NP-5.45-1.84 -196

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