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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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Market Creators reports standalone net profit of Rs 0.39 crore in the June 2017 quarter
Jul 22,2017

Net profit of Market Creators reported to Rs 0.39 crore in the quarter ended June 2017 as against net loss of Rs 0.17 crore during the previous quarter ended June 2016. Sales rose 20.31% to Rs 1.54 crore in the quarter ended June 2017 as against Rs 1.28 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales1.541.28 20 OPM %48.0517.19 - PBDT0.42-0.13 LP PBT0.39-0.17 LP NP0.39-0.17 LP

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Thirumalai Chemicals consolidated net profit rises 64.08% in the June 2017 quarter
Jul 22,2017

Net profit of Thirumalai Chemicals rose 64.08% to Rs 33.21 crore in the quarter ended June 2017 as against Rs 20.24 crore during the previous quarter ended June 2016. Sales rose 47.55% to Rs 323.27 crore in the quarter ended June 2017 as against Rs 219.09 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales323.27219.09 48 OPM %19.1117.89 - PBDT58.5235.66 64 PBT51.3429.33 75 NP33.2120.24 64

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Vijaya Bank standalone net profit rises 57.55% in the June 2017 quarter
Jul 22,2017

Net profit of Vijaya Bank rose 57.55% to Rs 254.69 crore in the quarter ended June 2017 as against Rs 161.66 crore during the previous quarter ended June 2016. Total Operating Income declined 1.78% to Rs 3005.01 crore in the quarter ended June 2017 as against Rs 3059.56 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Total Operating Income3005.013059.56 -2 OPM %62.7472.96 - PBDT329.35190.91 73 PBT329.35190.91 73 NP254.69161.66 58

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Thirumalai Chemicals standalone net profit rises 85.04% in the June 2017 quarter
Jul 22,2017

Net profit of Thirumalai Chemicals rose 85.04% to Rs 29.81 crore in the quarter ended June 2017 as against Rs 16.11 crore during the previous quarter ended June 2016. Sales rose 54.10% to Rs 258.89 crore in the quarter ended June 2017 as against Rs 168.00 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales258.89168.00 54 OPM %19.8016.90 - PBDT49.4726.99 83 PBT46.9024.47 92 NP29.8116.11 85

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Quess Corp consolidated net profit rises 34.18% in the June 2017 quarter
Jul 22,2017

Net profit of Quess Corp rose 34.18% to Rs 33.13 crore in the quarter ended June 2017 as against Rs 24.69 crore during the previous quarter ended June 2016. Sales rose 19.89% to Rs 1188.11 crore in the quarter ended June 2017 as against Rs 990.96 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales1188.11990.96 20 OPM %5.345.32 - PBDT51.3744.24 16 PBT44.6838.24 17 NP33.1324.69 34

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Tata Sponge Iron consolidated net profit rises 189.76% in the June 2017 quarter
Jul 22,2017

Net profit of Tata Sponge Iron rose 189.76% to Rs 30.57 crore in the quarter ended June 2017 as against Rs 10.55 crore during the previous quarter ended June 2016. Sales rose 62.18% to Rs 175.02 crore in the quarter ended June 2017 as against Rs 107.92 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales175.02107.92 62 OPM %22.057.55 - PBDT48.4017.17 182 PBT45.2314.12 220 NP30.5710.55 190

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Quess Corp standalone net profit rises 18.66% in the June 2017 quarter
Jul 22,2017

Net profit of Quess Corp rose 18.66% to Rs 25.31 crore in the quarter ended June 2017 as against Rs 21.33 crore during the previous quarter ended June 2016. Sales rose 10.67% to Rs 896.86 crore in the quarter ended June 2017 as against Rs 810.42 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales896.86810.42 11 OPM %5.235.53 - PBDT38.5837.96 2 PBT34.1234.02 0 NP25.3121.33 19

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Lee & Nee Software (Exports) standalone net profit rises 100.00% in the June 2017 quarter
Jul 22,2017

Net profit of Lee & Nee Software (Exports) rose 100.00% to Rs 0.02 crore in the quarter ended June 2017 as against Rs 0.01 crore during the previous quarter ended June 2016. Sales rose 37.50% to Rs 0.55 crore in the quarter ended June 2017 as against Rs 0.40 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales0.550.40 38 OPM %1.82-10.00 - PBDT0.030.01 200 PBT0.020.01 100 NP0.020.01 100

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Tata Sponge Iron standalone net profit rises 190.22% in the June 2017 quarter
Jul 22,2017

Net profit of Tata Sponge Iron rose 190.22% to Rs 30.56 crore in the quarter ended June 2017 as against Rs 10.53 crore during the previous quarter ended June 2016. Sales rose 62.18% to Rs 175.02 crore in the quarter ended June 2017 as against Rs 107.92 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales175.02107.92 62 OPM %22.057.55 - PBDT48.3917.15 182 PBT45.2214.10 221 NP30.5610.53 190

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Mangalore Refinery And Petrochemicals standalone net profit declines 67.43% in the June 2017 quarter
Jul 22,2017

Net profit of Mangalore Refinery And Petrochemicals declined 67.43% to Rs 234.01 crore in the quarter ended June 2017 as against Rs 718.49 crore during the previous quarter ended June 2016. Sales rose 21.75% to Rs 10262.41 crore in the quarter ended June 2017 as against Rs 8428.82 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales10262.418428.82 22 OPM %5.6814.48 - PBDT495.711304.21 -62 PBT331.981133.96 -71 NP234.01718.49 -67

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DIC India reports standalone net loss of Rs 5.24 crore in the June 2017 quarter
Jul 22,2017

Net loss of DIC India reported to Rs 5.24 crore in the quarter ended June 2017 as against net profit of Rs 6.85 crore during the previous quarter ended June 2016. Sales rose 0.91% to Rs 182.59 crore in the quarter ended June 2017 as against Rs 180.95 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales182.59180.95 1 OPM %0.287.06 - PBDT0.9114.01 -94 PBT-2.9910.23 PL NP-5.246.85 PL

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Ferro Alloys Corporation appoints CFO & KMP
Jul 22,2017

Ferro Alloys Corporation has appointed Yashpal Mehta as the CFO & KMP with effect from 01 July 2017.

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SE Investments appoints director
Jul 22,2017

SE Investments has appointed Gauri Shankar, as an Additional Non Executive Independent Director effective from 22 July 2017 and shall hold office till the forthcoming Annual General Meeting (AGM) and shall be eligible for appointment at the AGM.

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Reliance Industries announces cessation of director
Jul 22,2017

Reliance Industries announced the cessation of Dr D V Kapur as Director of the Company effective 21 July 2017 on expiry of his present term of office.

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Reliance Industries appoints director
Jul 22,2017

Reliance Industries has appointed Dr Shumeet Banerjee as independent director of the Company on 22 July 2017.

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