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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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Apollo Tyres consolidated net profit declines 7.15% in the September 2016 quarter
Nov 09,2016

Net profit of Apollo Tyres declined 7.15% to Rs 260.04 crore in the quarter ended September 2016 as against Rs 280.07 crore during the previous quarter ended September 2015. Sales rose 2.52% to Rs 3066.36 crore in the quarter ended September 2016 as against Rs 2990.90 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales3066.362990.90 3 OPM %14.3016.26 - PBDT455.04477.30 -5 PBT349.27369.77 -6 NP260.04280.07 -7

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Accelya Kale Solutions consolidated net profit rises 48.36% in the September 2016 quarter
Nov 09,2016

Net profit of Accelya Kale Solutions rose 48.36% to Rs 24.39 crore in the quarter ended September 2016 as against Rs 16.44 crore during the previous quarter ended September 2015. Sales rose 16.00% to Rs 92.53 crore in the quarter ended September 2016 as against Rs 79.77 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales92.5379.77 16 OPM %43.2335.43 - PBDT41.6128.76 45 PBT37.8825.35 49 NP24.3916.44 48

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Rural Electrification Corporation standalone net profit rises 8.16% in the September 2016 quarter
Nov 09,2016

Net profit of Rural Electrification Corporation rose 8.16% to Rs 1751.27 crore in the quarter ended September 2016 as against Rs 1619.19 crore during the previous quarter ended September 2015. Sales declined 1.22% to Rs 5755.86 crore in the quarter ended September 2016 as against Rs 5827.05 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales5755.865827.05 -1 OPM %99.4298.77 - PBDT2448.502270.19 8 PBT2446.672268.79 8 NP1751.271619.19 8

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Lupin consolidated net profit rises 57.76% in the September 2016 quarter
Nov 09,2016

Net profit of Lupin rose 57.76% to Rs 662.19 crore in the quarter ended September 2016 as against Rs 419.75 crore during the previous quarter ended September 2015. Sales rose 31.90% to Rs 4211.18 crore in the quarter ended September 2016 as against Rs 3192.61 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales4211.183192.61 32 OPM %24.4120.75 - PBDT1028.88696.35 48 PBT817.69580.86 41 NP662.19419.75 58

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Rico Auto Industries consolidated net profit rises 80.57% in the September 2016 quarter
Nov 09,2016

Net profit of Rico Auto Industries rose 80.57% to Rs 17.01 crore in the quarter ended September 2016 as against Rs 9.42 crore during the previous quarter ended September 2015. Sales rose 14.57% to Rs 270.27 crore in the quarter ended September 2016 as against Rs 235.90 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales270.27235.90 15 OPM %13.4011.36 - PBDT34.3825.42 35 PBT22.6413.73 65 NP17.019.42 81

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Board of Balrampur Chini Mills to consider Q2 results and buyback of shares
Nov 09,2016

Balrampur Chini Mills announced that a meeting of the Board of Directors of the Company has been scheduled on 15 November 2016, inter alia, to consider and approve the Unaudited Financial Results for the Quarter and Half-year ended 30 September 2016 (Q2). The Board of Directors shall also consider a proposal for buy back of Equity Shares of the Company and matters related/ incidental thereto.

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Sakthi Sugars announces change in nominee director
Nov 09,2016

Sakthi Sugars announced that Jigar Dalal, Vice President-Business Group VII, has been nominated by Asset Reconstruction Company (India) (ARCIL) as its Nominee Director on the Board of Directors of the Company in the place of P. S. Ravendernath, effective from 08 November 2016, vide ARCILs letter dated 08 November 2016.

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Kirloskar Brothers provides update on scheme of amalgamation
Nov 09,2016

Kirloskar Brothers announced that the Honorable High Court of the Judicature at Bombay has sanctioned the Scheme of Amalgamation between Kirloskar Systech and Kirloskar Brothers and their respective shareholders.

The certified copy of the said order was issued on 27 October 2016.

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Rupee shrugs off initial losses
Nov 09,2016

Rupee started the days trade with losses due to the uncertainty about the banking measures after the Governments move to withdraw larger banknotes from circulation coupled with U.S. Elections results.

The greenback later shrugged off its losses to close higher at 66.4250/4350 per dollar, versus its previous close of 66.6099/6200 per dollar as the investors looked the move as a positive sign for the economy.

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Board of AksharChem (India) to consider fund raising
Nov 09,2016

AksharChem (India) announced that a meeting of Board of Directors of the Company is scheduled to be held on 14 November 2016, inter alia, to consider, raising of funds through issue of securities.

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Jubilant Life Sciences issues commercial paper aggregating Rs 50 crore
Nov 09,2016

Jubilant Life Sciences has issued Commercial Papers of Rs. 50 crore on 09 November 2016, having maturity date of 29 December 2016, which have been rated IND A1 + by India Ratings & Research.

The aggregate amount of Commercial Papers outstanding as on date is Rs. 100 crore.

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Gandhinagar Leasing & Finance to announce September quarter results
Nov 09,2016

Gandhinagar Leasing & Finance announced that a meeting of Board of Directors is scheduled to be held on 14 November 2016, inter alia, to consider:

- The Unaudited Standalone Financial results for the Quarter ended as on 30 September 2016

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Gandhinagar Hotels to announce September quarter results
Nov 09,2016

Gandhinagar Hotels announced that a meeting of Board of Directors is scheduled to be held on 14 November 2016, inter alia, to consider:

- The Unaudited Standalone Financial results for the Quarter ended as on 30 September 2016.

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Board of Bajaj Steel Industries approves appointment of director
Nov 09,2016

Bajaj Steel Industries announced that the Board of Directors of the Company at its meeting held on 09 November 2016, inter alia, has considered and approved the following:

- Taken on record the appointment of Dr. Raja Iyer as an Additional Director (Independent) of the Company.

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Board of Sarda Energy & Minerals to consider financial results
Nov 09,2016

Sarda Energy & Minerals announced that a meeting of the Board of Directors of the Company is scheduled to be held on 18 November 2016, inter alia, to consider and approve:

1. the un-audited financial and segment wise standalone results for 2nd Quarter 2016-17.

2. issue and allotment of shares under ESOP

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