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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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Allahabad Bank standalone net profit declines 63.28% in the September 2016 quarter
Nov 04,2016

Net profit of Allahabad Bank declined 63.28% to Rs 65.03 crore in the quarter ended September 2016 as against Rs 177.10 crore during the previous quarter ended September 2015. Total Operating Income declined 8.85% to Rs 4422.46 crore in the quarter ended September 2016 as against Rs 4851.77 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Total Operating Income4422.464851.77 -9 OPM %58.7966.38 - PBDT155.93455.67 -66 PBT155.93455.67 -66 NP65.03177.10 -63

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Jindal Saw standalone net profit declines 34.87% in the September 2016 quarter
Nov 04,2016

Net profit of Jindal Saw declined 34.87% to Rs 47.32 crore in the quarter ended September 2016 as against Rs 72.65 crore during the previous quarter ended September 2015. Sales rose 1.88% to Rs 1343.53 crore in the quarter ended September 2016 as against Rs 1318.79 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales1343.531318.79 2 OPM %16.0712.76 - PBDT163.8686.75 89 PBT105.4530.49 246 NP47.3272.65 -35

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TRF reports standalone net loss of Rs 12.61 crore in the September 2016 quarter
Nov 04,2016

Net loss of TRF reported to Rs 12.61 crore in the quarter ended September 2016 as against net profit of Rs 5.17 crore during the previous quarter ended September 2015. Sales declined 15.62% to Rs 103.17 crore in the quarter ended September 2016 as against Rs 122.27 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales103.17122.27 -16 OPM %-1.1213.50 - PBDT-11.586.60 PL PBT-12.615.36 PL NP-12.615.17 PL

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Gujarat Pipavav Port standalone net profit declines 32.08% in the September 2016 quarter
Nov 04,2016

Net profit of Gujarat Pipavav Port declined 32.08% to Rs 59.42 crore in the quarter ended September 2016 as against Rs 87.48 crore during the previous quarter ended September 2015. Sales rose 17.79% to Rs 163.95 crore in the quarter ended September 2016 as against Rs 139.19 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales163.95139.19 18 OPM %60.1354.80 - PBDT110.3086.05 28 PBT82.3163.33 30 NP59.4287.48 -32

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Precot Meridian reports standalone net profit of Rs 0.76 crore in the September 2016 quarter
Nov 04,2016

Net profit of Precot Meridian reported to Rs 0.76 crore in the quarter ended September 2016 as against net loss of Rs 11.65 crore during the previous quarter ended September 2015. Sales declined 6.75% to Rs 160.18 crore in the quarter ended September 2016 as against Rs 171.78 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales160.18171.78 -7 OPM %7.943.74 - PBDT9.28-2.03 LP PBT0.76-11.65 LP NP0.76-11.65 LP

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EIH Associated Hotels reports standalone net profit of Rs 1.64 crore in the September 2016 quarter
Nov 04,2016

Net profit of EIH Associated Hotels reported to Rs 1.64 crore in the quarter ended September 2016 as against net loss of Rs 0.21 crore during the previous quarter ended September 2015. Sales rose 15.76% to Rs 49.52 crore in the quarter ended September 2016 as against Rs 42.78 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales49.5242.78 16 OPM %13.5511.57 - PBDT6.143.50 75 PBT2.56-0.32 LP NP1.64-0.21 LP

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Amrit Corp standalone net profit declines 58.03% in the September 2016 quarter
Nov 04,2016

Net profit of Amrit Corp declined 58.03% to Rs 2.09 crore in the quarter ended September 2016 as against Rs 4.98 crore during the previous quarter ended September 2015. Sales rose 8.78% to Rs 11.15 crore in the quarter ended September 2016 as against Rs 10.25 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales11.1510.25 9 OPM %-10.04-6.15 - PBDT2.484.93 -50 PBT2.104.56 -54 NP2.094.98 -58

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Max Financial Services reports standalone net loss of Rs 13.12 crore in the September 2016 quarter
Nov 04,2016

Net Loss of Max Financial Services reported to Rs 13.12 crore in the quarter ended September 2016 as against net loss of Rs 13.07 crore during the previous quarter ended September 2015. Sales rose 39.04% to Rs 5.20 crore in the quarter ended September 2016 as against Rs 3.74 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales5.203.74 39 OPM %-258.08-116.58 - PBDT-12.63-4.25 -197 PBT-13.12-4.78 -174 NP-13.12-13.07 0

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Ponni Sugars (Erode) standalone net profit rises 1107.50% in the September 2016 quarter
Nov 04,2016

Net profit of Ponni Sugars (Erode) rose 1107.50% to Rs 9.66 crore in the quarter ended September 2016 as against Rs 0.80 crore during the previous quarter ended September 2015. Sales rose 24.97% to Rs 69.96 crore in the quarter ended September 2016 as against Rs 55.98 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales69.9655.98 25 OPM %22.475.72 - PBDT15.512.34 563 PBT14.100.93 1416 NP9.660.80 1108

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Gangotri Textiles reports standalone net loss of Rs 1.12 crore in the September 2016 quarter
Nov 04,2016

Net Loss of Gangotri Textiles reported to Rs 1.12 crore in the quarter ended September 2016 as against net loss of Rs 12.77 crore during the previous quarter ended September 2015. Sales declined 99.49% to Rs 0.06 crore in the quarter ended September 2016 as against Rs 11.71 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales0.0611.71 -99 OPM %-1866.67-74.12 - PBDT-1.12-15.00 93 PBT-1.12-9.83 89 NP-1.12-12.77 91

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Aditya Spinners standalone net profit rises 72.73% in the September 2016 quarter
Nov 04,2016

Net profit of Aditya Spinners rose 72.73% to Rs 0.38 crore in the quarter ended September 2016 as against Rs 0.22 crore during the previous quarter ended September 2015. Sales rose 20.60% to Rs 13.99 crore in the quarter ended September 2016 as against Rs 11.60 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales13.9911.60 21 OPM %8.227.50 - PBDT0.760.52 46 PBT0.380.22 73 NP0.380.22 73

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Sri Chakra Cements standalone net profit declines 60.67% in the September 2016 quarter
Nov 04,2016

Net profit of Sri Chakra Cements declined 60.67% to Rs 5.51 crore in the quarter ended September 2016 as against Rs 14.01 crore during the previous quarter ended September 2015. Sales declined 10.74% to Rs 43.40 crore in the quarter ended September 2016 as against Rs 48.62 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales43.4048.62 -11 OPM %15.6230.85 - PBDT6.8914.85 -54 PBT5.5114.01 -61 NP5.5114.01 -61

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Titan Company standalone net profit rises 23.51% in the September 2016 quarter
Nov 04,2016

Net profit of Titan Company rose 23.51% to Rs 180.76 crore in the quarter ended September 2016 as against Rs 146.35 crore during the previous quarter ended September 2015. Sales declined 0.69% to Rs 2636.44 crore in the quarter ended September 2016 as against Rs 2654.66 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales2636.442654.66 -1 OPM %10.487.60 - PBDT276.35206.88 34 PBT250.39182.88 37 NP180.76146.35 24

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Rabi Crops Sowing Crosess 81 Lakh Hactare
Nov 04,2016

As per preliminary reports received from the States, the total area sown under Rabi crops as on 4th November, 2016 stands at 81.55 lakh hectares as compared to 88.92 lakh hectare this time in 2015.

             Wheat has been sown/transplanted in 4.28 lakh hectares, rice in 9.51 lakh hectares, pulses in 24.16 lakh hectares, coarse cereals in 13.84 lakh hectares and area sown under oilseeds is 29.79 lakh hectares.

 The area sown so far and that sown during last year this time is as follows: 

Lakh hectare 

CropArea sown in 2016-17Area sown in 2015-16Wheat4.282.76Rice9.516.25Pulses24.1630.07Coarse Cereals13.8429.92Oilseeds29.7919.91Total81.5888.92

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Rupee settles steady
Nov 04,2016

Rupee closed almost steady at 66.7499/7600 per dollar on Friday (04 November 2016), versus its previous close of 66.74/75 per dollar.

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