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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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Tata Motors announces sales performance
May 02,2017

Tata Motors announced that in April 2017, Tata Motors passenger vehicles, in the domestic market, continued its growth momentum at 12,827 nos., a growth of 23%, over April 2016, due to an encouraging response for its recently launched lifestyle UV, Tata HEXA and its latest Styleback, the Tata TIGOR. The Tata TIAGO continues to maintain good order pipeline.

Tata Motors commercial vehicles were affected by the Supreme Court judgement announced on 29 March 2017, with the ban on BS3 sales, leading to the need for a higher quantity of BS4 stock for April sales. The higher demand at short notice, was not met in production, as vendors struggled to meet with the higher demand, especially in the MHCV segments. Moreover, after the strong pre-buying of BS3 vehicles in March, and the price increase of BS4 vehicles (especially in the MHCV and Buses at 8-10%), demand for BS4 vehicles was also weak. The commercial vehicles sales in April 2017, in the domestic market, were at 16,017 nos., lower by 36% over April 2016. This is an unusual decline, in exceptional circumstances.

Tata Motors expects production, wholesales and retails to pick up in May and June.

Tata Motors passenger and commercial vehicle total sales (including exports) in April 2017 were at 30,972 vehicles, a degrowth of 21% over 39,389 vehicles sold in April 2016. The companys domestic sales of Tata commercial and passenger vehicles for April 2017 were at 28,844 nos., lower by 19%, over 35,604 nos., in April 2016.

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GAIL (India) provides update on Kerala natural gas pipeline project
May 02,2017

GAIL (India) has awarded contracts for pipeline laying works of Kochi-Koottanad-Mangaluru pipeline for another 131 kilometre section at a cost of approximately Rs 200 crore. With this, over 75% of the pipeline project will be in the construction phase.

The balance 111 kilometres stretch will be awarded by July 2017. GAIL (India) is targeting to complete the entire project by December 2018.

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Central Board of Direct Taxes (CBDT) signs two Unilateral Advance Pricing Agreements (APAs) with Indian taxpayers
May 02,2017

The Central Board of Direct Taxes (CBDT) has entered into two Unilateral Advance Pricing Agreements (APAs) with Indian taxpayers, strengthening the Governments commitment to foster a non-adversarial tax regime. Both the agreements also have a n++Rollbackn++ provision in them.

The 2 APAs signed yesterday pertain to Information Technology and Banking & Finance sectors of the economy. The international transactions covered in these agreements include Software Development services, IT enabled services and KPO services.

With these, the total number of APAs entered into by the CBDT has reached 154, which includes 11 bilateral APAs and 143 unilateral APAs. The CBDT expects more APAs to be concluded and signed in the near future. The approach and functioning of the officers in the APA teams have been appreciated and acknowledged by the industry in India and abroad.

The APA Scheme was introduced in the Income-tax Act in 2012 and the Rollback provisions were introduced in 2014. The scheme endeavours to provide certainty to taxpayers in the domain of transfer pricing by specifying the methods of pricing and determining the arms length price of international transactions in advance for the maximum of five future years. Further, the taxpayer has the option to rollback the APA for four preceding years. Since its inception, the APA scheme has attracted tremendous interest among Multi National Enterprises (MNEs) and that has resulted in more than 800 applications (both unilateral and bilateral) having been filed in just five years.

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Steel Strips Wheels announces sales performance
May 02,2017

Steel Strips Wheels has achieved total wheel rim sales of 11.50 lakh compared to 11.93 lakh in April 2017, representing a YoY drop of 3.6%. The drop was majorly due to the commercial vehicle volume adjustment for BS-IV, which is expected to pick up in May 2017 onwards, the production started picking up from mid April 2017.

In terms of value, net turnover stood at Rs 102.14 crore in April 2017 compared to Rs 109.62 crore in April 2016, recording a drop of 6.8%.

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Eicher Motors announces sales performance of subsidiary - VE Commercial Vehicles
May 02,2017

Eicher Motors announced the sales performance of its subsidiary, VE Commercial Vehicles for the month of April 2017.

Total sales stood at 3089 units in April 2017 compared to 5365 units in April 2016.

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Escorts announces appointment of Group HR Head
May 02,2017

Escorts has appointed Amanppreet Singh Bhatia as Group HR Head with immediate effect in place of Ishan Mehta.

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Escorts announces tractors sales performance
May 02,2017

Escorts announced that Agri Machinery Segment (EAM) in April 2017 sold 4,760 tractors in domestic market growth of 18% against 4,048 tractors in April 2016.

Export for the month of April 2017 at 139 tractors up by 266 % against 38 tractors in April 2016.

Total (Domestic + Exports) tractor sales in April 2017 at 4,899 tractors up by 20% against 4,086 tractors in April 2016.

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Dabur India consolidated net profit rises 0.49% in the March 2017 quarter
May 02,2017

Net profit of Dabur India rose 0.49% to Rs 333.11 crore in the quarter ended March 2017 as against Rs 331.48 crore during the previous quarter ended March 2016. Sales declined 4.75% to Rs 1914.68 crore in the quarter ended March 2017 as against Rs 2010.06 crore during the previous quarter ended March 2016.

For the full year,net profit rose 2.06% to Rs 1276.94 crore in the year ended March 2017 as against Rs 1251.15 crore during the previous year ended March 2016. Sales declined 2.13% to Rs 7701.44 crore in the year ended March 2017 as against Rs 7868.77 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales1914.682010.06 -5 7701.447868.77 -2 OPM %21.8120.66 -19.5919.30 - PBDT470.94455.86 3 1753.261686.99 4 PBT431.40420.10 3 1610.401553.80 4 NP333.11331.48 0 1276.941251.15 2

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Maruti scales record high after good monthly sales
May 02,2017

The announcement was made on Monday, 1 May 2017, when domestic stock markets remained closed for a local holiday.

Meanwhile, the S&P BSE Sensex was up 111.72 points or 0.37% at 30,030.12.

On the BSE, 13,000 shares were traded on the counter so far as against the average daily volumes of 52,037 shares in the past one quarter. The stock hit a high of Rs 6,700 in intraday trade so far, which is record high for the counter. The stock hit a low of Rs 6,625 so far during the day. The stock had hit a 52-week low of Rs 3,730 on 29 April 2016.

The large-cap company has equity capital of Rs 151.04 crore. Face value per share is Rs 5.

Maruti Suzuki Indias domestic sales grew by 23.4% to 1.44 lakh units in April 2017 over April 2016. Exports declined 29.4% to 6,723 units in April 2017 over April 2016.

Maruti Suzuki Indias net profit rose 15.8% to Rs 1709 crore on 20.3% growth in net sales to Rs 18005.20 crore in Q4 March 2017 over Q4 March 2016. The result was announced during market hours on 27 April 2017.

Maruti Suzuki India is Indias biggest car maker in terms of market share. Japanese parent Suzuki Motor Corporation currently holds 56.21% stake in Maruti Suzuki India (as per the shareholding pattern as on 31 March 2017).

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VTM reports standalone net loss of Rs 0.34 crore in the March 2017 quarter
May 02,2017

Net Loss of VTM reported to Rs 0.34 crore in the quarter ended March 2017 as against net loss of Rs 0.25 crore during the previous quarter ended March 2016. Sales rose 8.51% to Rs 43.60 crore in the quarter ended March 2017 as against Rs 40.18 crore during the previous quarter ended March 2016.

For the full year,net profit rose 7.62% to Rs 10.03 crore in the year ended March 2017 as against Rs 9.32 crore during the previous year ended March 2016. Sales declined 3.96% to Rs 146.26 crore in the year ended March 2017 as against Rs 152.29 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales43.6040.18 9 146.26152.29 -4 OPM %1.812.96 -7.459.25 - PBDT9.313.52 164 26.0618.99 37 PBT6.962.23 212 18.7713.83 36 NP-0.34-0.25 -36 10.039.32 8

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Sky Industries consolidated net profit declines 9.80% in the March 2017 quarter
May 02,2017

Net profit of Sky Industries declined 9.80% to Rs 0.46 crore in the quarter ended March 2017 as against Rs 0.51 crore during the previous quarter ended March 2016. Sales declined 5.30% to Rs 12.69 crore in the quarter ended March 2017 as against Rs 13.40 crore during the previous quarter ended March 2016.

For the full year,net profit declined 39.68% to Rs 0.76 crore in the year ended March 2017 as against Rs 1.26 crore during the previous year ended March 2016. Sales declined 6.06% to Rs 48.39 crore in the year ended March 2017 as against Rs 51.51 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales12.6913.40 -5 48.3951.51 -6 OPM %6.302.54 -7.966.66 - PBDT0.790.15 427 2.921.89 54 PBT0.56-0.07 LP 2.030.98 107 NP0.460.51 -10 0.761.26 -40

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Dabur India standalone net profit rises 5.26% in the March 2017 quarter
May 02,2017

Net profit of Dabur India rose 5.26% to Rs 302.23 crore in the quarter ended March 2017 as against Rs 287.14 crore during the previous quarter ended March 2016. Sales rose 0.13% to Rs 1434.80 crore in the quarter ended March 2017 as against Rs 1432.97 crore during the previous quarter ended March 2016.

For the full year,net profit rose 6.52% to Rs 998.33 crore in the year ended March 2017 as against Rs 937.26 crore during the previous year ended March 2016. Sales declined 0.97% to Rs 5369.84 crore in the year ended March 2017 as against Rs 5422.57 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales1434.801432.97 0 5369.845422.57 -1 OPM %24.9824.02 -20.7020.25 - PBDT413.55389.25 6 1369.781282.18 7 PBT392.23369.19 6 1294.351209.35 7 NP302.23287.14 5 998.33937.26 7

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Sree Rayalaseema Alkalies & Allied Chemicals standalone net profit rises 166.37% in the March 2017 quarter
May 02,2017

Net profit of Sree Rayalaseema Alkalies & Allied Chemicals rose 166.37% to Rs 5.94 crore in the quarter ended March 2017 as against Rs 2.23 crore during the previous quarter ended March 2016. Sales rose 11.11% to Rs 230.26 crore in the quarter ended March 2017 as against Rs 207.23 crore during the previous quarter ended March 2016.

For the full year,net profit declined 20.39% to Rs 19.44 crore in the year ended March 2017 as against Rs 24.42 crore during the previous year ended March 2016. Sales rose 13.93% to Rs 866.12 crore in the year ended March 2017 as against Rs 760.25 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales230.26207.23 11 866.12760.25 14 OPM %13.4512.53 -15.0414.06 - PBDT24.4215.72 55 89.1374.11 20 PBT12.456.43 94 42.5238.64 10 NP5.942.23 166 19.4424.42 -20

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Alicon Castalloy consolidated net profit rises 10.41% in the March 2017 quarter
May 02,2017

Net profit of Alicon Castalloy rose 10.41% to Rs 8.91 crore in the quarter ended March 2017 as against Rs 8.07 crore during the previous quarter ended March 2016. Sales rose 4.91% to Rs 203.15 crore in the quarter ended March 2017 as against Rs 193.65 crore during the previous quarter ended March 2016.

For the full year,net profit rose 16.73% to Rs 26.17 crore in the year ended March 2017 as against Rs 22.42 crore during the previous year ended March 2016. Sales rose 3.04% to Rs 764.42 crore in the year ended March 2017 as against Rs 741.89 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales203.15193.65 5 764.42741.89 3 OPM %12.3712.76 -11.3610.52 - PBDT19.4218.03 8 64.0658.90 9 PBT12.7712.02 6 36.7632.24 14 NP8.918.07 10 26.1722.42 17

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Indus Finance reports standalone net loss of Rs 0.25 crore in the March 2017 quarter
May 02,2017

Net loss of Indus Finance reported to Rs 0.25 crore in the quarter ended March 2017 as against net profit of Rs 0.12 crore during the previous quarter ended March 2016. Sales rose 103.08% to Rs 1.32 crore in the quarter ended March 2017 as against Rs 0.65 crore during the previous quarter ended March 2016.

For the full year,net profit declined 89.39% to Rs 0.07 crore in the year ended March 2017 as against Rs 0.66 crore during the previous year ended March 2016. Sales declined 22.37% to Rs 3.40 crore in the year ended March 2017 as against Rs 4.38 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales1.320.65 103 3.404.38 -22 OPM %-9.8553.85 -22.9465.30 - PBDT-0.63-0.18 -250 0.140.95 -85 PBT-0.64-0.18 -256 0.120.93 -87 NP-0.250.12 PL 0.070.66 -89

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