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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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Raymond standalone net profit rises 10.97% in the March 2017 quarter
Apr 29,2017

Net profit of Raymond rose 10.97% to Rs 37.54 crore in the quarter ended March 2017 as against Rs 33.83 crore during the previous quarter ended March 2016. Sales rose 1.64% to Rs 772.46 crore in the quarter ended March 2017 as against Rs 759.99 crore during the previous quarter ended March 2016.

For the full year,net profit declined 54.15% to Rs 33.82 crore in the year ended March 2017 as against Rs 73.76 crore during the previous year ended March 2016. Sales rose 1.08% to Rs 2822.18 crore in the year ended March 2017 as against Rs 2791.91 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales772.46759.99 2 2822.182791.91 1 OPM %11.0312.46 -5.778.70 - PBDT80.6982.07 -2 143.39204.18 -30 PBT52.7455.35 -5 53.02112.41 -53 NP37.5433.83 11 33.8273.76 -54

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IDFC standalone net profit declines 12.50% in the March 2017 quarter
Apr 29,2017

Net profit of IDFC declined 12.50% to Rs 4.20 crore in the quarter ended March 2017 as against Rs 4.80 crore during the previous quarter ended March 2016. Sales rose 138.84% to Rs 14.45 crore in the quarter ended March 2017 as against Rs 6.05 crore during the previous quarter ended March 2016.

For the full year,net profit reported to Rs 55.75 crore in the year ended March 2017 as against net loss of Rs 1162.14 crore during the previous year ended March 2016. Sales declined 28.96% to Rs 159.22 crore in the year ended March 2017 as against Rs 224.13 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales14.456.05 139 159.22224.13 -29 OPM %67.201.16 -54.58-804.01 - PBDT9.440.07 13386 84.18-1800.28 LP PBT8.13-1.23 LP 78.93-1805.24 LP NP4.204.80 -13 55.75-1162.14 LP

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Kesoram Industries reports standalone net loss of Rs 74.51 crore in the March 2017 quarter
Apr 29,2017

Net loss of Kesoram Industries reported to Rs 74.51 crore in the quarter ended March 2017 as against net profit of Rs 720.33 crore during the previous quarter ended March 2016. Sales declined 8.52% to Rs 969.52 crore in the quarter ended March 2017 as against Rs 1059.82 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 124.13 crore in the year ended March 2017 as against net profit of Rs 137.12 crore during the previous year ended March 2016. Sales declined 8.41% to Rs 3744.78 crore in the year ended March 2017 as against Rs 4088.51 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales969.521059.82 -9 3744.784088.51 -8 OPM %-3.58-25.59 --0.24-6.91 - PBDT-39.56-8.40 -371 -134.18-495.92 73 PBT-64.67-35.02 -85 -243.15-618.23 61 NP-74.51720.33 PL -124.13137.12 PL

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Ambuja Cements standalone net profit rises 360.74% in the March 2017 quarter
Apr 29,2017

Net profit of Ambuja Cements rose 360.74% to Rs 246.54 crore in the quarter ended March 2017 as against Rs 53.51 crore during the previous quarter ended March 2016. Sales rose 5.30% to Rs 2533.42 crore in the quarter ended March 2017 as against Rs 2405.97 crore during the previous quarter ended March 2016.

ParticularsQuarter Endedn++Mar. 2017Mar. 2016% Var. Sales2533.422405.97 5 OPM %15.5618.78 - PBDT458.33558.06 -18 PBT312.35175.10 78 NP246.5453.51 361

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Diamines & Chemicals standalone net profit rises 155.93% in the March 2017 quarter
Apr 29,2017

Net profit of Diamines & Chemicals rose 155.93% to Rs 1.51 crore in the quarter ended March 2017 as against Rs 0.59 crore during the previous quarter ended March 2016. Sales declined 3.43% to Rs 9.56 crore in the quarter ended March 2017 as against Rs 9.90 crore during the previous quarter ended March 2016.

For the full year,net profit rose 1612.00% to Rs 4.28 crore in the year ended March 2017 as against Rs 0.25 crore during the previous year ended March 2016. Sales declined 2.06% to Rs 34.77 crore in the year ended March 2017 as against Rs 35.50 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales9.569.90 -3 34.7735.50 -2 OPM %28.7716.06 -26.8012.56 - PBDT2.491.01 147 7.642.07 269 PBT2.110.53 298 5.790.08 7138 NP1.510.59 156 4.280.25 1612

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Vardhman Special Steels appoints MD and Vice Chairman
Apr 28,2017

Vardhman Special Steels has appointed Sachit Jain as MD and Vice Chairman of the Company with effect from 28 April 2017.

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Suyog Telematics recognised as Top 100 SMEs of India
Apr 28,2017

Suyog Telematics recognized as one of the Top 100 SMEs of India by the India SME Forum in Axis Bank presented India SME 100 Awards for the year 2015-2016.

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Aurobindo Pharma acquires Portuguese pharma company - Generis Farmaceutica S.A.
Apr 28,2017

Aurobindo Pharma has completed the acquisition of Generis Farmaceutica S.A., a Portuguese Pharmaceutical Company engaged in manufacture and marketing of pharmaceutical products in Portugal on 28 April 2017.

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Salem Erode Investments announces resignation of director
Apr 28,2017

Salem Erode Investments announced the resignation of Vishal Gupta, as Director of the Company.

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Andhra Bank announces change in directorate
Apr 28,2017

Andhra Bank announced that the Central Government, vide its Order dated 28 April, 2017 nominated Anjana Dube, Deputy Director General, Department of Financial Services as Government Nominee Director on the Board of the Bank with immediate effect and until further orders, in place of Anandrao Vishnu Patil. In view of the same, Anandrao Vishnu Patil ceased to be Director on the Board of the Bank with immediate effect

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Wipro recognised as Leader for Big Data & Analytics 2017
Apr 28,2017

Wipro has been positioned as a Leader in the NelsonHall Vendor Evaluation and Assessment Tool report for Big Data & Analytics 2017.

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Board of Punjab National Bank approves capital raising under Tier I & Tier II
Apr 28,2017

The Board of Directors of Punjab National Bank at its meeting held on 28 April 2017 has granted permission to raise Basel III Compliant Debt instrument - Perpetual Additional Tier I Capital bonds to the extent of Rs. 3000 crore and Tier - II bonds up to Rs. 3000 cror, subject to availability of headroom in one or more tranches.

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Thermax wins contracts valued at $157 million
Apr 28,2017

Thermax has won export contracts from a leading African conglomerate to supply 4 utility boilers, 8 heat recovery steam generators and 2 flue gas stem generators for its refinery and petrochemical project coming up in Nigerai. The order, won against global competition, is valued at approximately $157 million.

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Punjab & Sind Bank gets ratings assigned for proposed AT-I bond issue
Apr 28,2017

Punjab & Sind Bank announced that the proposed Basel III AT-1 Bonds upto Rs.1,000 crore have been rated as A+(Stable) by CARE and A+ (hyb) (Stable) by ICRA.

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Mahindra & Mahindra gets reaffirmation in credit ratings
Apr 28,2017

Mahindra & Mahindra announced that CARE has reaffirmed credit ratings for the Companys bank facilities as under -

Long term bank facilities (Rs 184 crore) - CARE AAA; Stable
Short term bank facilities (Rs 66 crore) - CARE A1

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