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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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Bharti Airtel consolidated net profit declines 58.38% in the June 2017 quarter
Jul 26,2017

Net profit of Bharti Airtel declined 58.38% to Rs 617.70 crore in the quarter ended June 2017 as against Rs 1484.20 crore during the previous quarter ended June 2016. Sales declined 14.05% to Rs 21958.10 crore in the quarter ended June 2017 as against Rs 25546.50 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales21958.1025546.50 -14 OPM %35.3337.37 - PBDT6300.807886.90 -20 PBT1481.602846.70 -48 NP617.701484.20 -58

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L&T Technology Services standalone net profit declines 12.98% in the June 2017 quarter
Jul 26,2017

Net profit of L&T Technology Services declined 12.98% to Rs 103.90 crore in the quarter ended June 2017 as against Rs 119.40 crore during the previous quarter ended June 2016. Sales rose 1.79% to Rs 779.10 crore in the quarter ended June 2017 as against Rs 765.40 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales779.10765.40 2 OPM %16.3920.39 - PBDT155.90178.40 -13 PBT142.70161.80 -12 NP103.90119.40 -13

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ICICI Prudential Life Insurance Company standalone net profit rises 74.69% in the June 2017 quarter
Jul 26,2017

Net profit of ICICI Prudential Life Insurance Company rose 74.69% to Rs 396.52 crore in the quarter ended June 2017 as against Rs 226.99 crore during the previous quarter ended June 2016. Sales rose 37.38% to Rs 4820.23 crore in the quarter ended June 2017 as against Rs 3508.79 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales4820.233508.79 37 OPM %8.435.93 - PBDT422.68227.41 86 PBT422.68227.41 86 NP396.52226.99 75

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Bharti Airtel standalone net profit declines 80.34% in the June 2017 quarter
Jul 26,2017

Net profit of Bharti Airtel declined 80.34% to Rs 280.60 crore in the quarter ended June 2017 as against Rs 1427.50 crore during the previous quarter ended June 2016. Sales declined 11.22% to Rs 14506.50 crore in the quarter ended June 2017 as against Rs 16339.70 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales14506.5016339.70 -11 OPM %33.7740.45 - PBDT3605.205364.00 -33 PBT426.302376.30 -82 NP280.601427.50 -80

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Tata Metaliks standalone net profit declines 11.09% in the June 2017 quarter
Jul 26,2017

Net profit of Tata Metaliks declined 11.09% to Rs 30.62 crore in the quarter ended June 2017 as against Rs 34.44 crore during the previous quarter ended June 2016. Sales rose 22.99% to Rs 387.12 crore in the quarter ended June 2017 as against Rs 314.75 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales387.12314.75 23 OPM %12.7919.24 - PBDT50.7552.83 -4 PBT39.1445.15 -13 NP30.6234.44 -11

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Kirloskar Industries standalone net profit declines 7.91% in the June 2017 quarter
Jul 26,2017

Net profit of Kirloskar Industries declined 7.91% to Rs 5.47 crore in the quarter ended June 2017 as against Rs 5.94 crore during the previous quarter ended June 2016. Sales declined 67.36% to Rs 0.47 crore in the quarter ended June 2017 as against Rs 1.44 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales0.471.44 -67 OPM %-329.79-57.64 - PBDT7.908.21 -4 PBT7.657.99 -4 NP5.475.94 -8

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Hero MotoCorp standalone net profit rises 3.50% in the June 2017 quarter
Jul 26,2017

Net profit of Hero MotoCorp rose 3.50% to Rs 914.04 crore in the quarter ended June 2017 as against Rs 883.09 crore during the previous quarter ended June 2016. Sales rose 7.74% to Rs 7971.58 crore in the quarter ended June 2017 as against Rs 7398.91 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales7971.587398.91 8 OPM %16.2616.63 - PBDT1426.031348.95 6 PBT1293.081233.71 5 NP914.04883.09 4

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New Post Offices will be opened in this fiscal-Manoj Sinha
Jul 26,2017

The Government has planned to open 81 Sub-Post Offices and 100 Branch Post Offices during the current financial year 2017-18 under the Scheme - n++Rural Business & Access to Postal Networkn++. Minister of Communications Shri Manoj Sinha said that the Department of Posts has also planned to open 66 Branch Post Offices by creation of new posts in 32 worst affected Left Wing Extremism (LWE) districts in the country under the aforesaid scheme in the current financial year.

Shri Sinha said that out of 25,350 post offices in the States of the Country, 25,348 are computerised. He said that the Department of Posts takes action, from time to time, to induct technology and upgrade the system to cater to the growing market requirements and to increase revenue earnings. The Minister said that the increase or revision of rates of postal products and services is an ongoing exercise carried out from time to time and that there is no proposal to increase the rates of premium Business Development products at present.

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Yes Bank vaults after good Q1 result, stock-split plan
Jul 26,2017

The result was announced during market hours today, 26 July 2017.

Meanwhile, the S&P BSE Sensex was up 157.57 points or 0.49% at 32,385.84

On the BSE, 7.96 lakh shares were traded on the counter so far as against the average daily volumes of 2.37 lakh shares in the past one quarter.

The stock hit a high of Rs 1,722.80 in intraday trade so far, which is 52-week high for the counter. The stock hit a low of Rs 1,606.30 so far during the day. The stock had hit a 52-week low of Rs 1,091.25 on 26 December 2016.

The large-cap bank has equity capital of Rs 457.64 crore. Face value per share is Rs 10.

Yes Bank banks board at its meeting held today, 26 July 2017 approved a 5-for-1 stock split of equity shares.

Yes Banks gross non-performing assets (NPAs) stood at Rs 1364.38 crore as on 30 June 2017 as against Rs 2018.56 crore as on 31 March 2017 and Rs 844.56 crore as on 30 June 2016.

The ratio of gross NPAs to gross advances stood at 0.97% as on 30 June 2017 as against 1.52% as on 31 March 2017 and 0.79% as on 30 June 2016. The ratio of net NPAs to net advances stood at 0.39% as on 30 June 2017 as against 0.81% as on 31 March 2017 and 0.29% as on 30 June 2016.

The banks Net Interest Income (NII) grew by 44% to Rs 1808.90 crore in Q1 June 2017 over Q1 June 2016. Net interest margin expanded to 3.7% in Q1 June 2017 from 3.6% in Q1 June 2016.

Commenting on the results and financial performance, Rana Kapoor, Managing Director & CEO, Yes Bank said that the bank continues to garner market share in its various corporate and MSME businesses while maintaining superior asset quality parameters.

Yes Bank is one of the leading private sector banks in India. The banks branch network stood at 1,020 branches and ATM network stood at 1,796 as on 30 June 2017.

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L T Foods gets revision in credit ratings
Jul 26,2017

L T Foods announced that CRISIL has upgraded the existing Long Term Rating of LT Foods from CRISIL BBB+ (STABLE) to CRISIL BBB+ (POSITIVE) and has reaffirmed the existing Short Term Rating of CRISIL A2 .

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Board of Yes Bank approves sub-division of shares
Jul 26,2017

Yes Bank announced that the Board of Directors meeting held on 26 July 2017 have approved the following -

1. Sub-division of existing 1 (one) Equity Share of face value of Rs. 10/- each fully paid up into 5 (five) Equity Shares of Rs. 2/- each fully paid up, subject to approval of Reserve Bank of India and Shareholders or any other applicable statutory and regulatory approvals.

2. Consequential alteration to the Capital Clause of Memorandum of Association.

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REC slips after bulk deal
Jul 26,2017

Meanwhile, the S&P BSE Sensex was up 156.30 points, or 0.48% to 32,384.57

Bulk deal boosted volume on the scrip. On the BSE, 82.51 lakh shares were traded in the counter so far, compared with average daily volumes of 6.06 lakh shares in the past one quarter. The stock had hit a high of Rs 179.60 and a low of Rs 175.60 so far during the day. The stock hit a 52-week high of Rs 223.80 on 9 May 2017. The stock hit a 52-week low of Rs 99.45 on 22 July 2016.

The stock rose 0.97% over the past one month till 25 July 2017, underperforming the Sensexs 3.5% rise. The scrip had also underperformed the market in past one quarter, declining 13.12% as against Sensexs 7.63% rise. The scrip, however, outperformed the market in past one year, surging 66.64% as against Sensexs 14.71% rise.

The large-cap company has equity capital of Rs 1974.92 crore. Face value per share is Rs 10.

Rural Electrification Corporations (REC) net profit rose 13.72% to Rs 1319.23 crore on 1.73% decline in total income to Rs 5979.33 crore in Q4 March 2017 over Q4 March 2016.

REC, a Navratna Central Public Sector Enterprise under Ministry of Power, provides financial assistance to state electricity boards, state government departments and rural electric co-operatives for rural electrification projects. The Government of India holds 58.86% stake in the company, as per the shareholding pattern as at 30 June 2017.

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HDFC edges lower after posting weak Q1 results
Jul 26,2017

The company announced its Q1 results during market hours today, 26 July 2017.

Meanwhile, the S&P BSE Sensex was up 129.42 points or 0.4% at 32,357.69.

High volumes were witnessed on the counter. On the BSE, 5.12 lakh shares were traded on the counter so far as against the average daily volumes of 3.38 lakh shares in the past one quarter. The stock had hit a high of Rs 1,645 and a low of Rs 1,620.65 so far during the day. The stock had hit a 52-week high of Rs 1,680.50 on 13 June 2017. The stock had hit a 52-week low of Rs 1,185 on 5 December 2016.

The stock declined 1.12% over the past one month till 25 July 2017, underperforming the Sensexs 3.5% rise. The scrip had also underperformed the market in past one quarter, rising 5.42% as against Sensexs 7.63% rise. The scrip had, however, outperformed the market in past one year, rising 18.28% as against Sensexs 14.71% rise.

The large-cap company has equity capital of Rs 318.58 crore. Face value per share is Rs 2.

HDFCs board of directors approved issue of secured, redeemable, non convertible debentures aggregating Rs 35000 crore on private placement basis.

HDFC is Indias first retail housing finance company and is currently one of the largest originators of housing loans in the country.

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GE T&D India leads gainers in A group
Jul 26,2017

GE T&D India jumped 16.57% to Rs 381.70 at 14:35 IST. The stock topped the gainers in the BSEs A group. On the BSE, 3.91 lakh shares were traded on the counter so far as against the average daily volumes of 11,000 shares in the past two weeks.

Jaiprakash Associates surged 8.74% to Rs 29.25. The stock was the second biggest gainer in A group. On the BSE, 2.37 crore shares were traded on the counter so far as against the average daily volumes of 1.54 crore shares in the past two weeks.

Sun Pharma Advanced Research Company gained 8.13% at Rs 354.60. The stock was the third biggest gainer in A group. On the BSE, 3.38 lakh shares were traded on the counter so far as against the average daily volumes of 66,000 shares in the past two weeks.

Jindal Steel & Power advanced 7.76% at Rs 150.70. The stock was the fourth biggest gainer in A group. On the BSE, 25.04 lakh shares were traded on the counter so far as against the average daily volumes of 11.16 lakh shares in the past two weeks.

Hindustan Copper rose 6.74% to Rs 70.50. The stock was the fifth biggest gainer in A group. On the BSE, 7.14 lakh shares were traded on the counter so far as against the average daily volumes of 84,000 shares in the past two weeks.

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The index of mineral production of mining and quarrying sector at 0.9% in May 2017 lower than in May 2016
Jul 26,2017

Mineral Production during May 2017 (Provisional) The index of mineral production of mining and quarrying sector for the month of May (new Series 2011-12=100) 2017 at 100.5, was 0.9% lower as compared to the level in the month of May 2016.

The total value of mineral production (excluding atomic & minor minerals) in the country during May 2017 was Rs. 19944 crore. The contribution of Coal was the highest at Rs. 7171 crore (36%). Next in the order of importance were: Petroleum (crude) Rs. 5634 crore, Iron ore Rs. 2551 crore, Natural gas (utilized) Rs. 2235 crore, Limestone Rs. 602 crore and Lignite Rs. 470 crore. These six minerals together contributed about 94% of the total value of mineral production in May 2017.

Production level of important minerals in May 2017 were: Coal 505 lakh tonnes, Lignite 30 lakh tonnes, Natural gas (utilized) 2701 million cu. m., Petroleum (crude) 31 lakh tonnes, Bauxite 1973 thousand tonnes, Chromite 254 thousand tonnes, Copper conc. 11 thousand tonnes, Gold 117 kg., Iron ore 160 lakh tonnes, Lead conc. 26 thousand tonnes, Manganese ore 237 thousand tonnes, Zinc conc. 123 thousand tonnes, Apatite & Phosphorite 50 thousand tonnes, Limestone 282 lakh tonnes, Magnesite 20 thousand tonnes and Diamond 1648 carat.

The production of important minerals showing positive growth during May 2017 over May 2016 include: Zinc conc. (96.9%), Copper conc. (52.0%), Lead conc. (47.4%), Gold (25.8%), Manganese ore (19.6%), Limestone (5.6%), Natural gas (utilized) (5.2%), Petroleum (crude) (0.7%) and Chromite (0.6%). The production of other important minerals showing negative growth are: Diamond [(-) 47.4%], Magnesite [(-) 31.8%], Bauxite [(-) 22.4%], Apatite & Phosphorite [(-) 10.4%], Lignite [(-) 6.3%], Iron ore [(-) 4.5%] and Coal [(-) 3.2%].

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