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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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The Hi-Tech Gears fixes record date for interim dividend
Feb 10,2017

The Hi-Tech Gears has fixed 24 February 2017, as the Record Date for the purpose of Payment of Interim Divided.

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SRF to pay interim dividend
Feb 10,2017

SRF announced that interim dividend will be paid on 28 February 2017.

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Board of SRF declares interim dividend
Feb 10,2017

SRF announced that the Board of Directors at its meeting held on 10 February 2017 has declared interim dividend @ 60% i.e. Rs. 6 per share on the paid-up equity share capital of the Company.

The date of payment of interim dividend will be 28 February 2017.

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Water Level of 91 Major Reservoirs of the country goes down by one per cent
Feb 10,2017

The Water storage available in 91 major reservoirs of the country for the week ending on February 9, 2017 was 74.977 BCM, which is 48% of total storage capacity of these reservoirs. This was 48% of the week ending 02 February 2017, 127% of the storage of corresponding period of last year and 102% of storage of average of last ten years.

The total storage capacity of these 91 reservoirs is 157.799 BCM which is about 62% of the total storage capacity of 253.388 BCM which is estimated to have been created in the country. 37 Reservoirs out of these 91 have hydropower benefit with installed capacity of more than 60 MW.

REGION WISE STORAGE STATUS:-

NORTHERN REGION

The northern region includes States of Himachal Pradesh, Punjab and Rajasthan. There are 6 reservoirs under CWC monitoring having total live storage capacity of 18.01 BCM. The total live storage available in these reservoirs is 6.41 BCM which is 36% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 39% and average storage of last ten years during corresponding period was 41% of live storage capacity of these reservoirs. Thus, storage during current year is less than the corresponding period of last year and is also less than the average storage of last ten years during the corresponding period.

EASTERN REGION

The Eastern region includes States of Jharkhand, Odisha, West Bengal and Tripura. There are 15 reservoirs under CWC monitoring having total live storage capacity of 18.83 BCM. The total live storage available in these reservoirs is 13.05 BCM which is 69% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 51% and average storage of last ten years during corresponding period was 56% of live storage capacity of these reservoirs. Thus, storage during current year is better than the corresponding period of last year and is also better than the average storage of last ten years during the corresponding period.

WESTERN REGION

The Western region includes States of Gujarat and Maharashtra. There are 27 reservoirs under CWC monitoring having total live storage capacity of 27.07 BCM. The total live storage available in these reservoirs is 16.63 BCM which is 61% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 34% and average storage of last ten years during corresponding period was 56% of live storage capacity of these reservoirs. Thus, storage during current year is better than the storage of last year and is also better than the average storage of last ten years during the corresponding period.

CENTRAL REGION

The Central region includes States of Uttar Pradesh, Uttarakhand, Madhya Pradesh and Chhattisgarh. There are 12 reservoirs under CWC monitoring having total live storage capacity of 42.30 BCM. The total live storage available in these reservoirs is 25.64 BCM which is 61% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 48% and average storage of last ten years during corresponding period was 42% of live storage capacity of these reservoirs. Thus, storage during current year is better than the storage of last year and is also better than the average storage of last ten years during the corresponding period.

SOUTHERN REGION

The Southern region includes States of Andhra Pradesh, Telangana, AP&TG (Two combined projects in both states) Karnataka, Kerala and Tamil Nadu. There are 31 reservoirs under CWC monitoring having total live storage capacity of 51.59 BCM. The total live storage available in these reservoirs is 13.26 BCM which is 26% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 25% and average storage of last ten years during corresponding period was 43% of live storage capacity of these reservoirs. Thus, storage during current year is better than the corresponding period of last year but is less than the average storage of last ten years during the corresponding period.

States having better storage than last year for corresponding period are Punjab, Rajasthan, Jharkhand, Odisha, West Bengal, Gujarat, Maharashtra, Uttar Pradesh, Madhya Pradesh, Chhattisgarh, AP&TG (Two combined projects in both states), Telangana and Karnataka. States having lesser storage than last year for corresponding period are Himachal Pradesh, Tripura, Uttarakhand, Andhra Pradesh, Kerala and Tamil Nadu.

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Sun TV Network declares interim dividend
Feb 10,2017

Sun TV Network announced that the Board of Directors at its meeting held on 10 February 2017, inter alia, has Declared an Interim Dividend of Rs. 5/- per equity share of Rs. 5/- each (i.e. 100%) for the financial year 2016-17.

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Board of Techno Electric & Engineering Company approves buyback of shares upto Rs 60 crore
Feb 10,2017

Techno Electric & Engineering Company announced that the Board of Directors of the Company at their meeting held on 10 February 2017 have, inter-alia, approved a proposal for Buy-back of upto 15,00,000 (Fifteen Lakhs) equity shares (Buy-back) from all the existing shareholders of the Company on a proportionate basis through the Tender Offer method in accordance with the provisions of Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 1998 (the Buy-back Regulations as amended) and the Companies Act, 2013 and rules made thereunder at a price of Rs. 400/-(Rupees Four Hundred Only) per equity share, aggregating to an amount of Rs. 60,00,00,000/-(Rupees Sixty Crores Only), excluding any expenses incurred or to be incurred in relation to the Buy-back viz. brokerage, applicable taxes such as securities transaction tax, service tax, stamp duty, advisors fees, printing and despatch expenses and other incidental and related expenses. The maximum shares proposed to be bought back represent 1.31% of the total paid up equity shares of the Company and the aggregate consideration for proposed buyback represent 7.71% of the aggregate of the paid up equity share capital and free reserves as per the audited financial statements of the Company for the financial year ended 31 March 2016.

The Board noted the intention of the Promoter of the Company NOT to participate in the proposed Buy-back. The Buy-back offer does not require approval of the shareholders of the Company.

The public announcement setting out the process, timelines and other requisite details that be released in due course in accordance with Buy-back Regulations.

The Board has constituted a Buy-back Committee and delegated its powers to the Committee to do all the acts, deeds and things as it may at its absolute discretion deemed necessary and expedient for proper implementation of the decision of the Board relating to Buy-back.

The Board has appointed N. Brahma, Company Secretary as the Compliance Officer for the purposes of Buy-back.

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Board of Power Grid Corporation of India accords Rs 6675.28 cr worth investment approval for 8 projects
Feb 10,2017

Power Grid Corporation of India announced that the Board of Directors of the company at its meeting held on 09 February 2017 have accorded investment approval aggregating Rs 6675.28 crore for 8 projects.

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Hinduja Ventures standalone net profit rises 4.90% in the December 2016 quarter
Feb 10,2017

Net profit of Hinduja Ventures rose 4.90% to Rs 35.99 crore in the quarter ended December 2016 as against Rs 34.31 crore during the previous quarter ended December 2015. Sales declined 99.57% to Rs 0.75 crore in the quarter ended December 2016 as against Rs 174.93 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales0.75174.93 -100 OPM %6608.0044.74 - PBDT37.6049.60 -24 PBT37.3049.29 -24 NP35.9934.31 5

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G-Tech Info Training reports standalone net profit of Rs 0.01 crore in the December 2016 quarter
Feb 10,2017

Net profit of G-Tech Info Training remain constant at Rs 0.01 crore in the quarter ended December 2016 and also during the previous quarter ended December 2015. Sales remain constant at Rs 0.03 crore in the quarter ended December 2016 and also during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales0.030.03 0 OPM %33.3333.33 - PBDT0.010.01 0 PBT0.010.01 0 NP0.010.01 0

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BSEL Infrastructure Realty standalone net profit rises 1012.50% in the December 2016 quarter
Feb 10,2017

Net profit of BSEL Infrastructure Realty rose 1012.50% to Rs 1.78 crore in the quarter ended December 2016 as against Rs 0.16 crore during the previous quarter ended December 2015. There were no Sales reported in the quarter ended December 2016 and during the previous quarter ended December 2015.

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Vantage Corporate Services reports standalone net profit of Rs 0.05 crore in the December 2016 quarter
Feb 10,2017

Net profit of Vantage Corporate Services remain constant at Rs 0.05 crore in the quarter ended December 2016 and also during the previous quarter ended December 2015. Sales remain constant at Rs 0.10 crore in the quarter ended December 2016 and also during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales0.100.10 0 OPM %80.0080.00 - PBDT0.070.07 0 PBT0.070.07 0 NP0.050.05 0

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Kilburn Chemicals standalone net profit declines 79.17% in the December 2016 quarter
Feb 10,2017

Net profit of Kilburn Chemicals declined 79.17% to Rs 0.05 crore in the quarter ended December 2016 as against Rs 0.24 crore during the previous quarter ended December 2015. There were no Sales reported in the quarter ended December 2016 and during the previous quarter ended December 2015.

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HMT reports standalone net loss of Rs 70.41 crore in the December 2016 quarter
Feb 10,2017

Net Loss of HMT reported to Rs 70.41 crore in the quarter ended December 2016 as against net loss of Rs 23.88 crore during the previous quarter ended December 2015. Sales declined 63.06% to Rs 4.03 crore in the quarter ended December 2016 as against Rs 10.91 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales4.0310.91 -63 OPM %-925.56-219.89 - PBDT-9.76-23.20 58 PBT-10.35-23.88 57 NP-70.41-23.88 -195

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Hindustan Zinc standalone net profit rises 26.11% in the December 2016 quarter
Feb 10,2017

Net profit of Hindustan Zinc rose 26.11% to Rs 2319.90 crore in the quarter ended December 2016 as against Rs 1839.58 crore during the previous quarter ended December 2015. Sales rose 46.04% to Rs 4943.89 crore in the quarter ended December 2016 as against Rs 3385.19 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales4943.893385.19 46 OPM %56.3043.66 - PBDT3326.432064.92 61 PBT2867.571885.18 52 NP2319.901839.58 26

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Himalchuli Food Products reports standalone net profit of Rs 0.01 crore in the December 2016 quarter
Feb 10,2017

Net profit of Himalchuli Food Products reported to Rs 0.01 crore in the quarter ended December 2016. There were no net profit/loss reported during the previous quarter ended December 2015. There were no Sales reported in the quarter ended December 2016 and during the previous quarter ended December 2015.

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