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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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Dhanlaxmi Cotex standalone net profit declines 79.88% in the December 2016 quarter
Feb 16,2017

Net profit of Dhanlaxmi Cotex declined 79.88% to Rs 0.34 crore in the quarter ended December 2016 as against Rs 1.69 crore during the previous quarter ended December 2015. Sales declined 43.96% to Rs 2.32 crore in the quarter ended December 2016 as against Rs 4.14 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales2.324.14 -44 OPM %16.3843.00 - PBDT0.341.69 -80 PBT0.341.69 -80 NP0.341.69 -80

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Pasupati Spinning & Weaving Mills reports standalone net profit of Rs 0.10 crore in the December 2016 quarter
Feb 16,2017

Net profit of Pasupati Spinning & Weaving Mills reported to Rs 0.10 crore in the quarter ended December 2016 as against net loss of Rs 0.38 crore during the previous quarter ended December 2015. Sales declined 32.76% to Rs 32.26 crore in the quarter ended December 2016 as against Rs 47.98 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales32.2647.98 -33 OPM %8.494.40 - PBDT1.210.44 175 PBT0.15-0.57 LP NP0.10-0.38 LP

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Fluidomat standalone net profit rises 23.91% in the December 2016 quarter
Feb 16,2017

Net profit of Fluidomat rose 23.91% to Rs 0.57 crore in the quarter ended December 2016 as against Rs 0.46 crore during the previous quarter ended December 2015. Sales rose 1.47% to Rs 5.54 crore in the quarter ended December 2016 as against Rs 5.46 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales5.545.46 1 OPM %14.6212.45 - PBDT1.060.85 25 PBT0.880.67 31 NP0.570.46 24

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Prime Focus reports consolidated net profit of Rs 22.68 crore in the December 2016 quarter
Feb 16,2017

Net profit of Prime Focus reported to Rs 22.68 crore in the quarter ended December 2016 as against net loss of Rs 11.40 crore during the previous quarter ended December 2015. Sales rose 8.86% to Rs 506.12 crore in the quarter ended December 2016 as against Rs 464.92 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales506.12464.92 9 OPM %21.9313.89 - PBDT89.7247.82 88 PBT24.41-9.36 LP NP22.68-11.40 LP

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BLS International Services consolidated net profit rises 30.34% in the December 2016 quarter
Feb 16,2017

Net profit of BLS International Services rose 30.34% to Rs 16.67 crore in the quarter ended December 2016 as against Rs 12.79 crore during the previous quarter ended December 2015. Sales rose 10.82% to Rs 162.80 crore in the quarter ended December 2016 as against Rs 146.91 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales162.80146.91 11 OPM %17.269.54 - PBDT26.4714.20 86 PBT20.9312.75 64 NP16.6712.79 30

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Kaycee Industries reports standalone net profit of Rs 0.04 crore in the December 2016 quarter
Feb 16,2017

Net profit of Kaycee Industries reported to Rs 0.04 crore in the quarter ended December 2016 as against net loss of Rs 0.06 crore during the previous quarter ended December 2015. Sales rose 5.68% to Rs 5.40 crore in the quarter ended December 2016 as against Rs 5.11 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales5.405.11 6 OPM %1.480.20 - PBDT0.130.03 333 PBT0.05-0.06 LP NP0.04-0.06 LP

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Jaykay Enterprises standalone net profit declines 18.00% in the December 2016 quarter
Feb 16,2017

Net profit of Jaykay Enterprises declined 18.00% to Rs 0.41 crore in the quarter ended December 2016 as against Rs 0.50 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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Universal Arts reports consolidated net loss of Rs 0.13 crore in the December 2016 quarter
Feb 16,2017

Net Loss of Universal Arts reported to Rs 0.13 crore in the quarter ended December 2016 as against net loss of Rs 0.21 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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Gajra Bevel Gears reports standalone net loss of Rs 0.17 crore in the December 2016 quarter
Feb 16,2017

Net Loss of Gajra Bevel Gears reported to Rs 0.17 crore in the quarter ended December 2016 as against net loss of Rs 0.07 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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Board of Nestle India recommends final dividend
Feb 16,2017

Nestle India announced that the Board of Directors of the Company at its meeting held on 15 January 2017, inter alia, have recommended the final dividend of Rs 23 per equity Share (i.e. 230%) , subject to the approval of the shareholders.

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Cabinet approves acquisition of subsidiary banks of State Bank of India
Feb 16,2017

The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi has approved the acquisition by the State Bank of India of its subsidiary banks namely State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank of Travancore.

The Cabinet also approved the introduction of a Bill in Parliament to repeal the State Bank of India (Subsidiary Banks) Act, 1959 and the State Bank of Hyderabad Act, 1956.

The merger is likely to result in recurring savings, estimated at more than Rs. 1,000 crore in the first year, through a combination of enhanced operational efficiency and reduced cost of funds. Existing customers of subsidiary banks will benefit from access to SBIs global network. The merger will also lead to better management of high value credit exposures through focused monitoring and control over cash flows instead of separate monitoring by six different banks.

The acquisition under Section 35 of the State Bank of India Act, 1955 will result in the creation of a stronger merged entity. This will minimize vulnerability to any geographic concentration risks faced by subsidiary banks. It will create improved operational efficiency and economies of scale. It will also result in improved risk management and unified treasury operations.

The acquisition of subsidiary banks of State Bank is an important step towards strengthening the banking sector through consolidation of public sector banks. It is in pursuance of the Indradhanush action plan of the Government and it is expected to strengthen the banking sector and improve its efficiency and profitability.

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South Indian Bank drops after twin bulk deals
Feb 16,2017

A bulk deal of 19.90 lakh shares was executed on the counter at Rs 19.90 per share at 11:19 IST on BSE. Another bulk deal of 19.96 lakh shares was executed on the scrip at Rs 19.90 per share at 11:20 IST on BSE.

Meanwhile, the S&P BSE Sensex was up 136.08 points or 0.48% at 28,291.64

Bulk deals boosted volume on the South Indian Bank scrip. On BSE, so far 88.80 lakh shares were traded in the counter as against average daily volume of 9.51 lakh shares in the past one quarter. The stock hit a high of Rs 20.15 and low of Rs 19.70 so far during the day. The stock had hit a record high of Rs 25.55 on 7 October 2016. The stock had hit a 52-week low of Rs 16.40 on 29 February 2016.

The mid-cap private sector bank has equity capital of Rs 135.21 crore. Face value per share is Re 1.

South Indian Banks net profit rose 9.59% to Rs 111.38 crore on 11.31% rise in total income to Rs 1737.47 crore in Q3 December 2016 over Q3 December 2015.

South Indian Bank is a private sector bank in India headquartered in Thrissur, Kerala.

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IIFL Holdings leads gainers on BSEs A group
Feb 16,2017

IIFL Holdings rose 9.74% at Rs 373. The stock topped the gainers in A group. On the BSE, 1.37 lakh shares were traded on the counter so far as against the average daily volumes of 16.17 lakh shares in the past two weeks.

Jaiprakash Associates rose 8.28% at Rs 13.08. The stock was the second biggest gainer in A group. On the BSE, 84.89 lakh shares were traded on the counter so far as against the average daily volumes of 91.22 lakh shares in the past two weeks.

Edelweiss Financial Services rose 5.59% at Rs 118.10. The stock was the third biggest gainer in A group. On the BSE, 1.39 lakh shares were traded on the counter so far as against the average daily volumes of 1.70 lakh shares in the past two weeks.

Welspun Corp rose 4.36% at Rs 82.65. The stock was the fourth biggest gainer in A group. On the BSE, 30,000 shares were traded on the counter so far as against the average daily volumes of 82,000 shares in the past two weeks.

Gujarat Mineral Development Corporation (GMDC) rose 3.95% at Rs 114.50. The stock was the fifth biggest gainer in A group. On the BSE, 42,000 shares were traded on the counter so far as against the average daily volumes of 1.16 lakh shares in the past two weeks.

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Board of CESC recommends dividend
Feb 16,2017

CESC announced that the Board of Directors of the Company at its meeting held on 15 February 2017, inter alia, have recommended the dividend of Rs 10 per equity Share (i.e. 100%) , subject to the approval of the shareholders.

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Reliance Infrastructure intimates of incorporation of Dassault Reliance Aerospace
Feb 16,2017

Reliance Infrastructure promoted Reliance Aerostructures Joint Venture (JV) with Dassault Aviation DASSAULT RELIANCE AEROSPACE (DRAL) has been incorporated.

Eric Trappier, Chairman of Dassault Aviation France, will be the Chairman, and Anil D Ambani, Chairman of Reliance Group, will be the Co-Chairman of DRAL.

Reliance Aerostructure (RAL) will have 51% shareholding in the JV, while Dassault Aviation (DA) will hold 49%.

On 23 September 2016, India and France signed a purchase agreement for supply of 36 Rafale fighter jets at a value of n++7.87 billion, or about Rs.60,000 crore. The contract includes a 50% offset obligation to the tune of approximately Rs. 30,000 crore, which is the largest ever offsetcontract in the history of India. DRAL will be a key player in the execution of offset obligations.

DRAL has finalized the Infrastructure requirements at Dhirubhai Aerospace Park at Mihan, Nagpur and the construction work for the greenfield facility will start in May 2017, and production by end-2017.

DRAL will execute the programs in phases, with Phase I resulting in the generation of more than 700 highly-skilled direct jobs and 2,800 indirect jobs.

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