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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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Arbitration award passed against Jindal Drilling & Industries
Dec 02,2016

Jindal Drilling & Industries announced that an Arbitration Award has been passed against the Company to make payment towards principal outstanding and the following amounts.

1. Amount of USD 31,769,994.76 by way of damages.

2. Interest on the damages awarded accruing at the daily rate of US prime plus 1%, compounded quarterly until the date of payment and

3. Cost of arbitration and other expenses.

The Company is taking necessary steps to contest in relation to the Award.

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Binani Cement gets revision in ratings for bank facilities
Dec 02,2016

Binani Cement announced that Credit Analytics and Research has revised its rating of bank facilities aggregating Rs 474.93 crore from CARE B+ to CARE D.

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Clariant Chemicals (India) declines after weak Q2 earnings
Dec 02,2016

The result was announced after market hours yesterday, 1 December 2016.

Meanwhile, the BSE Sensex was down 238.39 points, or 0.90%, to 26,321.53.

On the BSE, so far 6,278 shares were traded in the counter, compared with average daily volumes of 3,772 shares in the past one quarter. The stock had hit a high of Rs 735.10 and a low of Rs 718.50 so far during the day.

The stock hit a 52-week high of Rs 838 on 10 October 2016. The stock hit a 52-week low of Rs 587.25 on 1 March 2016. The stock had underperformed the market over the past 30 days till 1 December 2016, falling 6.23% compared with the 3.51% decline in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 0.49% as against Sensexs 6.91% decline.

The small-cap specialty chemicals company has equity capital of Rs 23.08 crore. Face value per share is Rs 10.

Clariant Chemicals (India) is a manufacturer and seller of specialty chemicals.

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Board of Valecha Engineering approved proposal for conversion of FDs into equity shares
Dec 02,2016

Valecha Engineering announced that the Board of Directors of the Company on 01 December 2016 has decided to consider a scheme of arrangement with the fixed deposit holders of the Company u/s. 391-394 of the Companies Act, 1956 for conversion of outstanding fixed deposits into equity shares or any other securities of the Company, subject to approval (s)/ consent (s)/sanction (s) and permission (s) from Ministry of Corporate Affairs, SEBI, equity shareholders, specified fixed deposit holders and the lenders, if any.

The Board directed the management to complete the requisite documentation necessary to give effect to the above decision as also the procedures thereafter.

The process for preparation of documentation for the proposal will be completed in or about four weeks time.

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Prakash Industries to announce September quarter and half year results
Dec 02,2016

Prakash Industries announced that a meeting of the Board of Directors of the Company will be held on 14 December 2016, inter alia, to consider Unaudited Financial Results with Limited Review for the quarter / half year ended 30 September 2016.

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Quess Corp completes acquisition of 74% stake in Inticore VJP Advance Systems
Dec 02,2016

Quess Corp has completed the acquisition of 74% equity in Inticore VJP Advance Systems, on 01 December 2016.

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IndusInd Bank shrugs off fund raising proposal
Dec 02,2016

Meanwhile, the S&P BSE Sensex was down 223.24 points or 0.84% at 26,336.68.

On the BSE, 18,000 shares were traded on the counter so far as against the average daily volumes of 56,969 shares in the past one quarter. The stock had hit a high of Rs 1,073.45 and a low of Rs 1,053 so far during the day.

The stock had hit a record high of Rs 1,255.30 on 7 September 2016 and a 52-week low of Rs 799 on 11 February 2016.

The large-cap bank has equity capital of Rs 597.38 crore. Face value per share is Rs 10.

IndusInd Bank said it proposes to raise funds by issue and allotment of senior unsecured redeemable non-convertible long term bonds in the nature of debentures (infrastructure bonds) for cash aggregating to Rs 1500 crore on private placement basis.

The borrowing shall be within the overall borrowing limits of the bank as may be approved by the shareholders from time to time. The announcement was made after market hours yesterday, 1 December 2016.

IndusInd Banks net profit rose 25.8% to Rs 704.26 crore on 24% growth in total income to Rs 4439.72 crore in Q2 September 2016 over Q2 September 2015.

IndusInd Bank is a leading private sector bank in India.

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Dilip Buildcon standalone net profit declines 82.67% in the September 2016 quarter
Dec 02,2016

Net profit of Dilip Buildcon declined 82.67% to Rs 6.97 crore in the quarter ended September 2016 as against Rs 40.23 crore during the previous quarter ended September 2015. Sales rose 3.48% to Rs 915.66 crore in the quarter ended September 2016 as against Rs 884.89 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales915.66884.89 3 OPM %16.9820.58 - PBDT63.1691.39 -31 PBT9.2547.95 -81 NP6.9740.23 -83

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A2Z Infra Engineering reports standalone net loss of Rs 16.65 crore in the September 2016 quarter
Dec 02,2016

Net Loss of A2Z Infra Engineering reported to Rs 16.65 crore in the quarter ended September 2016 as against net loss of Rs 8.40 crore during the previous quarter ended September 2015. Sales declined 42.66% to Rs 149.38 crore in the quarter ended September 2016 as against Rs 260.50 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales149.38260.50 -43 OPM %10.377.96 - PBDT-9.82-5.02 -96 PBT-13.46-8.37 -61 NP-16.65-8.40 -98

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Hytone Texstyles standalone net profit rises 30.00% in the September 2016 quarter
Dec 02,2016

Net profit of Hytone Texstyles rose 30.00% to Rs 0.13 crore in the quarter ended September 2016 as against Rs 0.10 crore during the previous quarter ended September 2015. Sales rose 51.43% to Rs 0.53 crore in the quarter ended September 2016 as against Rs 0.35 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales0.530.35 51 OPM %33.9620.00 - PBDT0.210.15 40 PBT0.130.10 30 NP0.130.10 30

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Responsive Industries standalone net profit rises 16.08% in the September 2016 quarter
Dec 02,2016

Net profit of Responsive Industries rose 16.08% to Rs 5.56 crore in the quarter ended September 2016 as against Rs 4.79 crore during the previous quarter ended September 2015. Sales rose 1.53% to Rs 458.82 crore in the quarter ended September 2016 as against Rs 451.90 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales458.82451.90 2 OPM %7.748.98 - PBDT32.8438.77 -15 PBT8.076.99 15 NP5.564.79 16

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Clariant Chemicals (India) standalone net profit declines 86.10% in the September 2016 quarter
Dec 02,2016

Net profit of Clariant Chemicals (India) declined 86.10% to Rs 3.46 crore in the quarter ended September 2016 as against Rs 24.89 crore during the previous quarter ended September 2015. Sales rose 2.07% to Rs 227.62 crore in the quarter ended September 2016 as against Rs 223.01 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales227.62223.01 2 OPM %5.885.04 - PBDT15.2016.60 -8 PBT5.366.23 -14 NP3.4624.89 -86

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IFL Promoters reports standalone net profit of Rs 0.01 crore in the September 2016 quarter
Dec 02,2016

Net profit of IFL Promoters remain constant at Rs 0.01 crore in the quarter ended September 2016 and also during the previous quarter ended September 2015. Sales declined 78.13% to Rs 0.14 crore in the quarter ended September 2016 as against Rs 0.64 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales0.140.64 -78 OPM %14.291.56 - PBDT0.010.01 0 PBT0.010.01 0 NP0.010.01 0

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Srikalahasthi Pipes standalone net profit declines 24.30% in the September 2016 quarter
Dec 02,2016

Net profit of Srikalahasthi Pipes declined 24.30% to Rs 25.98 crore in the quarter ended September 2016 as against Rs 34.32 crore during the previous quarter ended September 2015. Sales declined 40.65% to Rs 174.90 crore in the quarter ended September 2016 as against Rs 294.69 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales174.90294.69 -41 OPM %20.2822.70 - PBDT44.3357.55 -23 PBT35.2848.95 -28 NP25.9834.32 -24

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Gillette India standalone net profit rises 63.46% in the September 2016 quarter
Dec 02,2016

Net profit of Gillette India rose 63.46% to Rs 54.84 crore in the quarter ended September 2016 as against Rs 33.55 crore during the previous quarter ended September 2015. Sales rose 6.77% to Rs 411.63 crore in the quarter ended September 2016 as against Rs 385.53 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales411.63385.53 7 OPM %19.5412.74 - PBDT88.2459.62 48 PBT80.7052.25 54 NP54.8433.55 63

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