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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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G G Automotive Gears standalone net profit rises 106.67% in the June 2017 quarter
Jul 27,2017

Net profit of G G Automotive Gears rose 106.67% to Rs 0.31 crore in the quarter ended June 2017 as against Rs 0.15 crore during the previous quarter ended June 2016. Sales rose 45.42% to Rs 8.10 crore in the quarter ended June 2017 as against Rs 5.57 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales8.105.57 45 OPM %12.7210.77 - PBDT0.780.51 53 PBT0.370.18 106 NP0.310.15 107

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Supreme Petrochem standalone net profit declines 77.40% in the June 2017 quarter
Jul 27,2017

Net profit of Supreme Petrochem declined 77.40% to Rs 10.31 crore in the quarter ended June 2017 as against Rs 45.61 crore during the previous quarter ended June 2016. Sales declined 4.49% to Rs 694.77 crore in the quarter ended June 2017 as against Rs 727.42 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales694.77727.42 -4 OPM %2.6810.62 - PBDT20.6077.48 -73 PBT15.4771.73 -78 NP10.3145.61 -77

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Agro Tech Foods standalone net profit rises 11.49% in the June 2017 quarter
Jul 27,2017

Net profit of Agro Tech Foods rose 11.49% to Rs 6.50 crore in the quarter ended June 2017 as against Rs 5.83 crore during the previous quarter ended June 2016. Sales declined 2.92% to Rs 187.16 crore in the quarter ended June 2017 as against Rs 192.78 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales187.16192.78 -3 OPM %7.817.26 - PBDT14.4312.93 12 PBT10.118.87 14 NP6.505.83 11

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Ion Exchange (India) standalone net profit declines 10.22% in the June 2017 quarter
Jul 27,2017

Net profit of Ion Exchange (India) declined 10.22% to Rs 7.29 crore in the quarter ended June 2017 as against Rs 8.12 crore during the previous quarter ended June 2016. Sales rose 2.87% to Rs 208.05 crore in the quarter ended June 2017 as against Rs 202.25 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales208.05202.25 3 OPM %5.716.28 - PBDT14.3514.87 -3 PBT11.1212.30 -10 NP7.298.12 -10

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Acil Cotton Industries reports standalone nil net profit/loss in the June 2017 quarter
Jul 27,2017

Acil Cotton Industries reported no net profit/loss in the quarter ended June 2017 as against net profit of Rs 0.01 crore during the previous quarter ended June 2016. Sales declined 11.45% to Rs 1.16 crore in the quarter ended June 2017 as against Rs 1.31 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales1.161.31 -11 OPM %00.76 - PBDT00.01 -100 PBT00.01 -100 NP00.01 -100

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Infibeam Incorporation reverses recent rally on profit booking
Jul 27,2017

Meanwhile, the S&P BSE Sensex was up 0.84 points, at 32,383.30. The S&P BSE Mid-Cap index was off 84.10 points, or 0.55% at 15,255.66.

On the BSE, 2.78 lakh shares were traded on the counter as against the average daily volumes of 1.53 lakh shares in the past one quarter. The stock had hit high of Rs 1,431.80 and a low of Rs 1,290. The stock had hit a record high of Rs 1,447.55 on 22 February 2017 and a 52-week low of Rs 657.50 on 27 July 2016.

The mid-cap company has equity capital of Rs 54.28 crore. Face value per share is Rs 10.

Infibeam Incorporations consolidated net profit spurted 468.5% to Rs 13.53 crore on 61.2% growth in net sales to Rs 120.51 crore in Q4 March 2017 over Q4 March 2016.

Infibeam Incorporation is an e-commerce company, focused on developing successful e-commerce platforms and ecosystems.

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Board of Wintac appoints directors
Jul 27,2017

The Board of Wintac has appointed K.M.Ganga and Dr.K.Paranjothy as Additional Directors on the Board.

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Aptech sells Karjat land for Rs 16.5 crore
Jul 27,2017

Aptech announced that as part of Companys strategy of divesting non-core assets, the Company has on 26 July 2017, sold its rights in the land situated at Karjat, District Raigad at a consideration of Rs. 16.50 crore.

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Board of Tata Elxsi appoints CFO
Jul 27,2017

The Board of Tata Elxsi at its meeting held on 27 July 2017 has appointed H V Muralidharan as CFO of the Company with immediate effect.

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Dr Reddys drops after weak Q1 outcome
Jul 27,2017

The announcement was made during market hours today, 27 July 2017.

Meanwhile, the S&P BSE Sensex was up 12.88 points or 0.04% at 32,395.34

On the BSE, 76,000 shares were traded on the counter so far as against the average daily volumes of 32,560 shares in the past one quarter. The stock had hit a high of Rs 2,725 and a low of Rs 2,633.20 so far during the day. The stock had hit a 52-week high of Rs 3,516.95 on 26 July 2016 and a 52-week low of Rs 2,382.05 on 29 May 2017.

The stock had underperformed the market over the past one month till 26 July 2017, rising 2.12% compared with the Sensexs 4% rise. The stock also underperformed the market over the past one quarter, rising 4.52% as against the Sensexs 7.46% rise. The scrip, however, underperformed the market over the past one year, sliding 9.3% as against the Sensexs 15.75% rise.

The large-cap company has equity capital of Rs 82.91 crore. Face value per share is Rs 5.

Dr Reddys Laboratories consolidated earnings before interest, taxation, depreciation and amortization (EBITDA) declined 15.56% to Rs 336 crore in Q1 June 2017 over Q1 June 2016. EBITDA margin contracted to 10.1% in Q1 June 2017, from 12.3% in Q1 June 2016.

Commenting on the results, Dr Reddys Laboratories Co-Chairman and CEO G V Prasad said that while headwinds in the form of price erosion due to US customer consolidation continue, a lower contribution from new product launches in the US and GST implementation in India also impacted the companys performance.

Dr Reddys Laboratories is an integrated global pharmaceutical company.

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Board of Wintac approves rights issue
Jul 27,2017

Wintac announced that the Board of Directors of the Company have at their meeting held on 27 July 2017, has considered and approved the proposal, subject to all necessary approvals, for issue of 66,82,828 Equity Shares on Rights basis to the existing shareholders of the company in the ratio of 3 : 2 i.e., 2 (two) shares for every 3 (three) shares held at a price of Rs. 100/- per share (Rs.10 face value + Rs. 90 premium per share) aggregating to Rs. 66.83 crores. The funds raised would be utilised to meet the capital expenditure on construction of New Manufacturing Facility and other corporate funds requirements and also to augment the long term working capital of the Company. If the Rights Issue is fully subscribed, the Company may not avail the ECB which was earlier proposed to part finance the project.

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Board of Maruti Suzuki India appoints director
Jul 27,2017

The Board of Maruti Suzuki India at its meeting held on 27 July 2017 has appointed Renu Sud Karnad as Independent Director in place of Late Amal Ganguli with effect from 27 July 2017.

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Pfizer to pay dividend
Jul 27,2017

Pfizer announced that dividend, if approved by the members at the ensuing Annual General Meeting will be paid on 14 September 2017.

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Board of SQS India BFSI appoints 2250 equity shares under ESOP
Jul 27,2017

The Board of SQS India BFSI has allotted 2,250 Equity Shares to 1 Employee of the Company under Thinksoft - Employee Stock Option Scheme 2011 at its meeting held on 27 July 2017.

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Board of SQS India BFSI allots 2250 equity shares under ESOP
Jul 27,2017

The Board of SQS India BFSI has allotted 2,250 Equity Shares to 1 Employee of the Company under Thinksoft - Employee Stock Option Scheme 2011 at its meeting held on 27 July 2017.

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