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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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Board of Merck to consider December quarter results and dividend for 2016
Jan 31,2017

Merck announced that a meeting of the Board of Directors of the Company will be held on 24 February 2017, inter alia, to consider and approve the audited financial results for the year ended 31 December 2016 and to consider recommendation of dividend for the year 2016.

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Oil India to pay interim dividend for FY 2017
Jan 31,2017

Oil India announced that Interim Dividend of Rs. 9.50 per share (i.e. 95 %) for the year 2016-17 is payable on and from 15 February 2017. Payment will be completed on and before 02 March 2017.

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Board of Oil India declares interim dividend
Jan 31,2017

Oil India announced that the Board in its meeting held on 31 January 2017 has inter-alia declared Interim Dividend of Rs. 9.50 per share (i.e. 95 %) for the year 2016-17.

Further, Dividend is payable on and from 15 February 2017. Payment will be completed on and before 02 March 2017.

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NEPC Textiles reports standalone nil net profit/loss in the December 2016 quarter
Jan 31,2017

NEPC Textiles reported no net profit/loss in the quarter ended December 2016 as against net loss of Rs 0.01 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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Sylph Technologies reports standalone net loss of Rs 0.06 crore in the December 2016 quarter
Jan 31,2017

Net Loss of Sylph Technologies reported to Rs 0.06 crore in the quarter ended December 2016 as against net loss of Rs 0.05 crore during the previous quarter ended December 2015. Sales rose 42.14% to Rs 1.99 crore in the quarter ended December 2016 as against Rs 1.40 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales1.991.40 42 OPM %-6.03-5.71 - PBDT-0.05-0.04 -25 PBT-0.06-0.05 -20 NP-0.06-0.05 -20

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Pasari Spinning Mills reports standalone net loss of Rs 0.06 crore in the December 2016 quarter
Jan 31,2017

Net Loss of Pasari Spinning Mills reported to Rs 0.06 crore in the quarter ended December 2016 as against net loss of Rs 0.08 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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Procal Electronics India reports standalone net loss of Rs 0.01 crore in the December 2016 quarter
Jan 31,2017

Net Loss of Procal Electronics India reported to Rs 0.01 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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NEPC India reports standalone net profit of Rs 0.01 crore in the December 2016 quarter
Jan 31,2017

Net profit of NEPC India reported to Rs 0.01 crore in the quarter ended December 2016. There were no net profit/loss reported 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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Amalgamated Electricity Company reports standalone net loss of Rs 0.02 crore in the December 2016 quarter
Jan 31,2017

Net loss of Amalgamated Electricity Company reported to Rs 0.02 crore in the quarter ended December 2016 as against net profit of Rs 0.07 crore during the previous quarter ended December 2015. There were no Sales reported in the quarter ended December 2016 as against Rs 0.09 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales00.09 -100 OPM %077.78 - PBDT-0.020.07 PL PBT-0.020.07 PL NP-0.020.07 PL

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Hindustan Hardy Spicer reports standalone net loss of Rs 0.49 crore in the December 2016 quarter
Jan 31,2017

Net loss of Hindustan Hardy Spicer reported to Rs 0.49 crore in the quarter ended December 2016 as against net profit of Rs 0.26 crore during the previous quarter ended December 2015. Sales declined 36.22% to Rs 8.24 crore in the quarter ended December 2016 as against Rs 12.92 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales8.2412.92 -36 OPM %-1.585.88 - PBDT-0.320.53 PL PBT-0.540.26 PL NP-0.490.26 PL

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Texmaco Infrastructure & Holdings standalone net profit rises 18.07% in the December 2016 quarter
Jan 31,2017

Net profit of Texmaco Infrastructure & Holdings rose 18.07% to Rs 2.81 crore in the quarter ended December 2016 as against Rs 2.38 crore during the previous quarter ended December 2015. Sales rose 11.91% to Rs 3.57 crore in the quarter ended December 2016 as against Rs 3.19 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales3.573.19 12 OPM %32.4949.22 - PBDT3.843.81 1 PBT3.213.18 1 NP2.812.38 18

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Shree Cement standalone net profit rises 0.72% in the December 2016 quarter
Jan 31,2017

Net profit of Shree Cement rose 0.72% to Rs 235.43 crore in the quarter ended December 2016 as against Rs 233.75 crore during the previous quarter ended December 2015. Sales rose 2.24% to Rs 1843.35 crore in the quarter ended December 2016 as against Rs 1802.96 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales1843.351802.96 2 OPM %25.4425.44 - PBDT563.51536.84 5 PBT245.89260.23 -6 NP235.43233.75 1

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Volumes jump at Vardhman Textiles counter
Jan 31,2017

Vardhman Textiles clocked volume of 1.51 lakh shares by 14:05 IST on BSE, a 56.30-times surge over two-week average daily volume of 3,000 shares. The stock rose 1.52% at Rs 1,281.

Bayer CropScience notched up volume of 40,000 shares, a 36.32-fold surge over two-week average daily volume of 1,000 shares. The stock lost 0.53% at Rs 4,081.

Aditya Birla Fashion and Retail saw volume of 15.57 lakh shares, a 26.14-fold surge over two-week average daily volume of 60,000 shares. The stock was up 0.87% at Rs 150.10.

Crompton Greaves Consumer Electricals clocked volume of 18.88 lakh shares, a 15.12-fold surge over two-week average daily volume of 1.25 lakh shares. The stock advanced 3.42% at Rs 191.80.

Tech Mahindra saw volume of 6.42 lakh shares, a 7.33-fold rise over two-week average daily volume of 88,000 shares. The stock declined 4.39% at Rs 451. The companys consolidated profit after tax rose 32.77% to Rs 856 crore on 5.44% growth in revenue to Rs 7557.50 crore in Q3 December 2016 over Q2 September 2016. The result was announced at the fag end of the trading session yesterday, 30 January 2017.

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V-Guard Industries strengthens on good Q3 results; bonus issue
Jan 31,2017

The result was announced after market hours yesterday, 30 January 2017.

Meanwhile, the S&P BSE Sensex was down 76.81 points or 0.28% at 27,772.75.

High volumes were witnessed on the counter. On the BSE, 1.88 lakh shares were traded in the counter so far as against average daily volume of 59,024 shares in the past one quarter. The stock had hit a high of Rs 208 and low of Rs 200 so far during the day. The stock had hit a record high of Rs 226 on 26 October 2016. The stock had hit a 52-week low of Rs 78.66 on 12 February 2016.

The stock had outperformed the market over the past 30 days till 30 January 2017, gaining 18.97% compared with 4.59% gains in the Sensex. The scrip had, however, underperformed the market in past one quarter, dropping 8.37% as against Sensexs 0.29% fall.

The mid-cap company has equity capital of Rs 30.22 crore. Face value per share is Rs 1.

V-Guard Industries said that pumps have driven growth for the Q3 December 2016 along with fans and solar water heaters.

The board commemorating the 40th foundation day of the company, recommended bonus issue of 2 equity shares for every 5 shares held by capitalizing free reserves of the company.

Commenting on the companys performance, Mr. Mithun. K. Chittilappilly, Managing Director, V-Guard Industries said that the company was able to perform reasonably well in a market condition which was affected by various economic decisions. Demonetization had some impact on some product segment and sales growth of some of the products had come down from earlier quarters. The company proactively introduced various facilities such as arranging finance through NBFC and installing card machines, cash discount facilities to channel partners etc.

Sales in Tamil Nadu Region was affected due to the socioeconomic situation prevalent in the state and because OJ cyclone affecting many parts of Chennai and suburban areas.

The business outlook remains positive considering upcoming summer season. The company would lookat expanding to newer cities, launch newer products that resonate with the younger generation, he added.

V-Guard Industries makes consumer electrical and electronics products. The companys product range includes voltage stabilizer, digital UPS, inverter and inverter batteries, electric water heaters, solar water heaters, domestic pumps, agricultural pumps, industrial motors, domestic switch gears, distribution boards, wiring cables, industrial cables, induction cooktops, mixer grinders and fans.

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Wintac announces change in directorate
Jan 31,2017

Wintac announced that the tenure of Managing Director of the company, S.Jayaprakash Mady, ended on 31 January 2017 as per the terms of appointment and that S.Jayaprakash Mady has informed the Board that, owing to certain personal reasons, he would not be available for re-appointment as the Managing Director of the company for another term.

However, S.Jayaprakash Mady would continue as Non-Executive Director on the Companys Board.

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