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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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Oil Country Tubular reports standalone net loss of Rs 11.51 crore in the December 2016 quarter
Feb 09,2017

Net loss of Oil Country Tubular reported to Rs 11.51 crore in the quarter ended December 2016 as against net profit of Rs 2.20 crore during the previous quarter ended December 2015. Sales declined 94.16% to Rs 3.38 crore in the quarter ended December 2016 as against Rs 57.83 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales3.3857.83 -94 OPM %-48.8221.67 - PBDT-6.338.04 PL PBT-11.432.36 PL NP-11.512.20 PL

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Vardhman Textiles standalone net profit rises 34.76% in the December 2016 quarter
Feb 09,2017

Net profit of Vardhman Textiles rose 34.76% to Rs 181.06 crore in the quarter ended December 2016 as against Rs 134.36 crore during the previous quarter ended December 2015. Sales declined 2.68% to Rs 1397.85 crore in the quarter ended December 2016 as against Rs 1436.34 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales1397.851436.34 -3 OPM %25.2920.88 - PBDT334.07280.97 19 PBT252.42192.75 31 NP181.06134.36 35

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Rane Holdings standalone net profit rises 45.49% in the December 2016 quarter
Feb 09,2017

Net profit of Rane Holdings rose 45.49% to Rs 4.19 crore in the quarter ended December 2016 as against Rs 2.88 crore during the previous quarter ended December 2015. There were no Sales reported in the quarter ended December 2016 as against Rs 0.22 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales00.22 -100 OPM %02290.91 - PBDT5.444.46 22 PBT5.114.17 23 NP4.192.88 45

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MPIL Corporation reports standalone net loss of Rs 0.03 crore in the December 2016 quarter
Feb 09,2017

Net Loss of MPIL Corporation reported to Rs 0.03 crore in the quarter ended December 2016 as against net loss of Rs 0.04 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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Bata India standalone net profit declines 15.86% in the December 2016 quarter
Feb 09,2017

Net profit of Bata India declined 15.86% to Rs 37.71 crore in the quarter ended December 2016 as against Rs 44.82 crore during the previous quarter ended December 2015. Sales rose 2.42% to Rs 640.19 crore in the quarter ended December 2016 as against Rs 625.09 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales640.19625.09 2 OPM %11.8312.51 - PBDT94.1686.91 8 PBT77.9767.38 16 NP37.7144.82 -16

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Bajaj Electricals standalone net profit declines 17.47% in the December 2016 quarter
Feb 09,2017

Net profit of Bajaj Electricals declined 17.47% to Rs 29.71 crore in the quarter ended December 2016 as against Rs 36.00 crore during the previous quarter ended December 2015. Sales declined 6.89% to Rs 1046.45 crore in the quarter ended December 2016 as against Rs 1123.83 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales1046.451123.83 -7 OPM %6.427.41 - PBDT52.9564.22 -18 PBT45.1657.20 -21 NP29.7136.00 -17

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Ambalal Sarabhai Enterprises reports standalone net loss of Rs 2.33 crore in the December 2016 quarter
Feb 09,2017

Net Loss of Ambalal Sarabhai Enterprises reported to Rs 2.33 crore in the quarter ended December 2016 as against net loss of Rs 3.32 crore during the previous quarter ended December 2015. Sales declined 86.70% to Rs 0.25 crore in the quarter ended December 2016 as against Rs 1.88 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales0.251.88 -87 OPM %-1120.00-140.96 - PBDT-2.11-2.61 19 PBT-2.82-3.32 15 NP-2.33-3.32 30

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Board of Tata Chemicals approves setting up biotechnology unit in Nellore and a manufacturing plant in Gujarat
Feb 09,2017

Tata Chemicals announced that the Board of Directors of the company at its meeting held on 08 February 2017 transacted the following -

Approved an investment of Rs 270 crore in the Nutritional Solutions business for setting up a state of the art biotechnology unit in Nellore district of Andhra Pradesh for manufacturing of soluble dietary fibres with cutting edge health benefits.

Approved an investment of Rs 295 crore in setting up of a plant to manufacture precipitated highly dispersible silica in the state of Gujarat. This specialty chemical represents downstream value addition to the Companys soad ash business.

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E-Bidding Process To Select Operator Started for UDAN Scheme
Feb 09,2017

The Ministry of Civil Aviation (MoCA), Government of India launched the Regional Connectivity Scheme (RCS)-UDAN on 21st October, 2016. The e-bidding process has already been started to select airline operator for mounting RCS operations. A Regional Connectivity Fund (RCF) has been created to provide Viability Gap Funding (VGF) by the Government of India. The Central Government has imposed levy on some category of the scheduled domestic flights being operated in India to fund the RCF. No funds have been released to airline operator under the Scheme. Slot allocation is done as per Slot Allocation Policy.

The Airfare cap under RCS-UDAN for fixed wing aircraft ranges from Rs. 1420/- for 151 kilometers to Rs. 3500/- for >800 kilometers. MoCA has signed Memorandum of Understanding (MoU) on RCS-UDAN with 16 State Governments / UTs to provide concessions as mentioned in the Scheme. The bidding process has already been started to select airline operators for RCS operations. Directorate General of Civil Aviation (DGCA) has issued Civil Aviation Requirement (CAR) for Scheduled Commuter Operations.

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Board of Jumbo Bag approves setting up of manufacturing unit in Tamil Nadu
Feb 09,2017

The Board of Directors of Jumbo Bag at its meeting held on 09 February 2017 has transacted the following -

Approved setting up of a new manufacturing unit at Peruvoyal Village, Thiruvallur District in the State of Tamil Nadu which will take over the production that are outsourced to various satellite units.

Approved the appointment of Renuka Rao as an Additional Director of the Company with effect from 09 February 2017.

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Board of Tanfac Industries accepts resignation of Managing Director
Feb 09,2017

Tanfac Industries announced that the Board of Directors of the Company at its meeting held on 09 February 2017 has accepted the resignation of Lalit Naik as Managing Director of the Company and also on the Board with effect from 28 November 2016.

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Outcome of board meeting of Parabolic Drugs
Feb 09,2017

Parabolic Drugs announced that the Board of Directors of the Company at its meeting held on 09 February 2017 has taken note that ICICI Bank, IDBI Bank, SBI, State Bank of Hyderabad, State Bank of Patiala and UCO Bank have assigned their debt in favour of JM Financial Asset Reconstruction Company.

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Board of Talwalkars Better Value Fitness appoints CFO
Feb 09,2017

The Board of Directors of Talwalkars Better Value Fitness at its meeting held on 09 February 2017 appointed Girish Nayak as Chief Financial Officer of the Company.

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Pan Drugs to hold board meeting
Feb 09,2017

Pan Drugs will hold a meeting of the Board of Directors of the Company on 13 February 2017,to approve the Unaudited Quarterly Financial Results for the quarter (Q3) and nine months ended 31 December 2016.

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Board of Edelweiss Financial Services recommends dividend
Feb 09,2017

Edelweiss Financial Services announced that the Board of Directors of the Company at its meeting held on 9 February 2017, inter alia, have recommended the dividend of Rs 1 per equity Share (i.e. 100%) , subject to the approval of the shareholders.

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