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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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Asia Pacific Market: Stocks end mixed
Nov 17,2016

Asia Pacific share market closed mixed on Thursday, 17 November 2016, pausing for breath, as the US dollar hovered near 14-year highs and on caution ahead of inflation, jobs and exports data expected from the U.S. and testimony from Federal Reserve Chairwoman Janet Yellen on the economic outlook to Congress later in the day.

Later in the U.S. on Thursday, data on October consumer prices, weekly jobless claims and export sales are due. But the market will be focused on congressional testimony from Ms. Yellen. New York Fed President William Dudley and Fed Board Governor Lael Brainard will also be speaking at public events.

The US dollar hovered near 14-year highs, boosted by rising U.S. bond yields. The ICE Dollar Index, which tracks the greenback against a basket of six currencies, rose to 100.57 earlier in the session, its highest level since April 2003. It was last trading 0.2% down at 100.23.

Among Asian bourses

Australia Stocks end tad higher

Australian share market ended marginally higher, as gains in telecom, utilities, realty, and healthcare stocks were more than offset fall in bullion, energy, and financial players. At the closing bell, the benchmark S&P/ASX 200 index rose 10.80 points, or 0.2%, to 5,338.50, while the broader All Ordinaries index increased 9.30 points, or 0.17%, to 5,408.90.

Telecom sector was biggest gainer of the ASX sectoral group, led by Telstra, rising 2.8% to A$4.84, after the telecommunications giant said it expects a A$1 billion reduction in core fixed costs by fiscal year 2021. The healthcare and utilities sectors also advanced. CSL and Scentre Group were up 1.9% and 1.2% respectively.

Shares of energy companies declined as global oil prices eased overnight and in early Asian trade. Santos dropped 1.3% to A$3.95, while Woodside Petroleum advanced 0.8% to A$29.27 and Origin Energy added 2.6% to A$5.64.

James Hardie was up 4.5% to A$20.40 despite the building products company posting a 24% fall in half year profit to $US144.1 million.

OFX, the former OZForex, was up 6.5% to A$1.54, making up lost ground from yesterday when the currency transfer group posted a 14% fall in net profit to A$9.66 million for the six months to September.

Nikkei closes flat

The Japan share market closed steady after recovering from an early falls, as a rally fuelled by a weaker yen lost steam. Stocks met with selling to lock in profits at the beginning of Thursdays trading after the 30-issue Dow Jones industrial average snapped its seven session winning streak on Wednesday. In particular, financial issues and export-oriented names took a beating, as investors grew worry after the two sectors led the recent market surge. But the Nikkei average turned higher in midmorning trading, as the dollar retook 109 yen after the Bank of Japan offered to buy Japanese government bonds at designated yields for the first time since it introduced the fixed-rate JGB buying operation in September. In the afternoon, the key market gauge fluctuated around the previous days closing level, with its downside supported by the dollars stable moves around 109 yen. The benchmark Nikkei 225 index gained 0.42 point to 17,862.63, the best level since early February, while the broader Topix index of all first-section issues was up 0.1%, or 1.43 points, at 1,423.08.

Domestic demand-oriented issues, such as daily goods maker Kao, Nippon Telegraph and Telephone and railway operator JR East, were buoyant. Other major winners included mobile phone carrier SoftBank Group, airline ANA, game producer Nintendo and oil company Inpex. By contrast, mega-banks Mitsubishi UFJ, Mizuho and Sumitomo Mitsui, insurer Dai-ichi Life and brokerage firm Nomura were downbeat.

China Stocks edge up

Mainland China stock market closed edge higher, snapping a two-session losing streak, as gains for big-cap infrastructure stocks offset a weak resources sector. But gains were capped on concerns over strength in the U.S. dollar and worries over capital outflows. The benchmark Shanghai Composite Index added 0.1% to close at 3,208.45 points. The CSI 300 index closed 0.2% higher at 3,436.54 points.

A strong US dollar and worries over capital outflows also curbed investor appetites. With the dollar index still hovering near a 13-1/2 year high against a basket of currencies, there are persistent fears of yuan depreciation, as global investors continue to bet US President-elect Donald Trumps policies will result in higher inflation and stronger US economic growth.

Shares in infrastructure companies and those related to the Belt and Road initiative picked up. Metallurgical Corp of China jumped the daily cap of 10%, and Power Construction Corp of China was up more than 4%.

Gree Electric Appliances, Chinas largest air conditioner manufacturer, gained 2% after the company scrapped plans to acquire a lithium battery producer.

Hong Kong Stocks close lower

The Hong Kong stock market closed a shade down, as stocks met with selling after the 30-issue Dow Jones industrial average snapped its seven session winning streak on Wednesday. The Hang Seng Index ended down 0.08%, or 17.65 points, to 22,262.88 and the Hang Seng China Enterprises index lost 0.38%, or 36 points, to 9,326.54. Turnover increased slightly to HK$62.3 billion from HK$65.9 billion on Wednesday.

Macau gaming counters rose. Galaxy Entertainment (00027) and Sands China (01928) surged 4.3% and 5.2% to HK$34.95 and HK$36.35. Melco International (00200) rose 2.6% to HK$11.08. S&P Global Ratings yesterday forecast Macaus gaming revenue will be flat to 10% higher in 2017.

Shipping counters were higher as Baltic Dry Index (BDI) jumped again. Pacific Basin Shipping (02343) surged 3.9% to HK$1.35. China Shipping Container Lines (02866) jumped 4% to HK$1.77. China COSCO Holdings (01919) soared 6.5% to HK$3.12. Singamas Container (00716) shot up 6.8% to HK$0.94.

Tencent (00700) slipped 1% to HK$194.8 after the internet giant reported its 9-month earnings growth of 41%, with 3Qs growth of 43%. Research houses were mixed on its report.

Sensex slides over 4% in four sessions

Telecom, IT sector stocks and index heavyweight HDFC Bank led small losses for key benchmark indices in a volatile trading session. The barometer index, the S&P BSE Sensex, fell 71.07 points or 0.27% to settle at 26,227.62. The Nifty 50 index fell 31.65 points or 0.39% to settle at 8,079.95.

Bharti Airtel fell 4.26% to Rs 296.35. The company announced the completion of the merger of its subsidiary Airtel Bangladesh with Robi Axiata, a unit ofAxiata Group Berhad. The merger was completed following the fulfilment of the condition precedents to the agreement and filing of the merger order with the registrar of joint stock companies and firms of Bangladesh Court. Post the merger, Axiata will hold 68.7% stake in the combined entity, while Airtel will hold 25%. The remaining 6.3% stake will be held by NTT DoCoMo.

Reliance Communications (RCom) fell 0.26% to Rs 38.40. RCom, through its wholly-owned subsidiary Reliance Globalcom Services Inc, acquired a newly incorporated company named Onyx NewCo LLC (ONL), a Delaware Registered Company, on 15 November 2016. Delaware is a state located in the United States. ONL will be a telecommunications company, which is yet to commence its business operations.

Elsewhere in the Asia Pacific region: New Zealands NZX50 added 0.6% to 6856.18. Indonesias Jakarta Composite index rose 0.15% to 5193. Taiwans Taiex added 0.4% to 8995.26. South Koreas KOSPI index declined 0.5% to 1970.74. Malaysias KLCI was down 0.1% to 1626.77. Singapores Straits Times index rose 0.7% to 2813.48.

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Hong Kong Stocks close lower
Nov 17,2016

The Hong Kong stock market closed a shade down on Thursday, 17 November 2016, as stocks met with selling after the 30-issue Dow Jones industrial average snapped its seven session winning streak on Wednesday. The Hang Seng Index ended down 0.08%, or 17.65 points, to 22,262.88 and the Hang Seng China Enterprises index lost 0.38%, or 36 points, to 9,326.54. Turnover increased slightly to HK$62.3 billion from HK$65.9 billion on Wednesday.

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HPL Electric & Power standalone net profit declines 85.67% in the September 2016 quarter
Nov 17,2016

Net profit of HPL Electric & Power declined 85.67% to Rs 1.96 crore in the quarter ended September 2016 as against Rs 13.68 crore during the previous quarter ended September 2015. Sales declined 34.87% to Rs 198.27 crore in the quarter ended September 2016 as against Rs 304.43 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales198.27304.43 -35 OPM %13.3112.36 - PBDT7.5920.84 -64 PBT2.3116.30 -86 NP1.9613.68 -86

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Birdhi Chand Pannalal Agencies standalone net profit rises 3371.43% in the September 2016 quarter
Nov 17,2016

Net profit of Birdhi Chand Pannalal Agencies rose 3371.43% to Rs 2.43 crore in the quarter ended September 2016 as against Rs 0.07 crore during the previous quarter ended September 2015. Sales declined 82.64% to Rs 2.51 crore in the quarter ended September 2016 as against Rs 14.46 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales2.5114.46 -83 OPM %96.810.48 - PBDT2.430.07 3371 PBT2.430.07 3371 NP2.430.07 3371

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Bronze Trading standalone net profit rises 100.00% in the September 2016 quarter
Nov 17,2016

Net profit of Bronze Trading rose 100.00% to Rs 0.02 crore in the quarter ended September 2016 as against Rs 0.01 crore during the previous quarter ended September 2015. Sales rose 466.67% to Rs 0.34 crore in the quarter ended September 2016 as against Rs 0.06 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales0.340.06 467 OPM %2.9416.67 - PBDT0.020.01 100 PBT0.020.01 100 NP0.020.01 100

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Refex Industries reports standalone net profit of Rs 0.73 crore in the September 2016 quarter
Nov 17,2016

Net profit of Refex Industries reported to Rs 0.73 crore in the quarter ended September 2016 as against net loss of Rs 1.01 crore during the previous quarter ended September 2015. Sales rose 662.32% to Rs 21.65 crore in the quarter ended September 2016 as against Rs 2.84 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales21.652.84 662 OPM %10.12-19.01 - PBDT0.92-0.52 LP PBT0.73-1.01 LP NP0.73-1.01 LP

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Universal Arts reports standalone net loss of Rs 0.11 crore in the September 2016 quarter
Nov 17,2016

Net Loss of Universal Arts reported to Rs 0.11 crore in the quarter ended September 2016 as against net loss of Rs 0.22 crore during the previous quarter ended September 2015. Sales reported to Rs 0.01 crore in the quarter ended September 2016. There were no Sales reported during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales0.010 0 OPM %-1200.000 - PBDT-0.11-0.21 48 PBT-0.11-0.22 50 NP-0.11-0.22 50

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Jain Marmo Industries standalone net profit declines 80.00% in the September 2016 quarter
Nov 17,2016

Net profit of Jain Marmo Industries declined 80.00% to Rs 0.01 crore in the quarter ended September 2016 as against Rs 0.05 crore during the previous quarter ended September 2015. Sales declined 3.23% to Rs 1.20 crore in the quarter ended September 2016 as against Rs 1.24 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales1.201.24 -3 OPM %5.0014.52 - PBDT0.060.13 -54 PBT0.010.08 -88 NP0.010.05 -80

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Seshachal Technologies reports standalone net loss of Rs 0.01 crore in the September 2016 quarter
Nov 17,2016

Net Loss of Seshachal Technologies reported to Rs 0.01 crore in the quarter ended September 2016 as against net loss of Rs 0.03 crore during the previous quarter ended September 2015. There were no Sales reported in the quarter ended September 2016 and during the previous quarter ended September 2015.

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Devhari Exports (India) reports standalone net loss of Rs 0.20 crore in the September 2016 quarter
Nov 17,2016

Net loss of Devhari Exports (India) reported to Rs 0.20 crore in the quarter ended September 2016. There were no net profit/loss reported during the previous quarter ended September 2015. Sales rose 1183.78% to Rs 4.75 crore in the quarter ended September 2016 as against Rs 0.37 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales4.750.37 1184 OPM %-4.420 - PBDT-0.200 0 PBT-0.200 0 NP-0.200 0

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Springform Technology reports standalone net profit of Rs 0.01 crore in the September 2016 quarter
Nov 17,2016

Net profit of Springform Technology remain constant at Rs 0.01 crore in the quarter ended September 2016 and also during the previous quarter ended September 2015. Sales rose 28.57% to Rs 0.09 crore in the quarter ended September 2016 as against Rs 0.07 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales0.090.07 29 OPM %22.2214.29 - PBDT0.020.01 100 PBT0.010.01 0 NP0.010.01 0

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Anka India reports standalone net loss of Rs 0.02 crore in the September 2016 quarter
Nov 17,2016

Net Loss of Anka India reported to Rs 0.02 crore in the quarter ended September 2016 as against net loss of Rs 0.02 crore during the previous quarter ended September 2015. There were no Sales reported in the quarter ended September 2016 and during the previous quarter ended September 2015.

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Asian Food Products reports standalone nil net profit/loss in the September 2016 quarter
Nov 17,2016

Asian Food Products reported no net profit/loss in the quarter ended September 2016 and during the previous quarter ended September 2015. There were no Sales reported in the quarter ended September 2016 and during the previous quarter ended September 2015.

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Sea Gold Aqua Farms reports standalone net loss of Rs 0.03 crore in the September 2016 quarter
Nov 17,2016

Net loss of Sea Gold Aqua Farms reported to Rs 0.03 crore in the quarter ended September 2016 as against net profit of Rs 0.07 crore during the previous quarter ended September 2015. Sales declined 94.51% to Rs 0.10 crore in the quarter ended September 2016 as against Rs 1.82 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales0.101.82 -95 OPM %-30.003.85 - PBDT-0.030.07 PL PBT-0.030.07 PL NP-0.030.07 PL

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Fortune Financial Services (India) reports standalone net profit of Rs 2.67 crore in the September 2016 quarter
Nov 17,2016

Net profit of Fortune Financial Services (India) reported to Rs 2.67 crore in the quarter ended September 2016 as against net loss of Rs 0.26 crore during the previous quarter ended September 2015. Sales rose 4.35% to Rs 0.48 crore in the quarter ended September 2016 as against Rs 0.46 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales0.480.46 4 OPM %150.00-56.52 - PBDT0.72-0.26 LP PBT0.71-0.27 LP NP2.67-0.26 LP

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