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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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NITI Aayog approves Rs 18K crore investment for 200 kmph rail projects for 2 major routes, says Suresh Prabhu
Jul 24,2017

The premiere think-tank of the Government of India, NITI Aayog has approved investments worth Rs 18,000 crore for high-speed rail projects for major routes of Delhi-Mumbai and Delhi-Kolkata, Union Minister for Railways, Mr Suresh Prabhu said at an ASSOCHAM event.

n++We are working on Gatiman Express which is Indias fastest train at 180 km per hour and trying for Mumbai-Delhi and Delhi-Kolkata which are major routes with a speed of maximum 200 km per hour (kmph) and that will be an investment of Rs 18,000 crore which has already been approved by the NITI Aayog,n++ said Mr Prabhu. n++When we proposed it, they were apprehensive but now everybody realises importance of it as it is a least-cost option, so we are trying to do that, you can imagine the trains can go at that speed from Delhi to Mumbai and how much travel time will be reduced,n++ he said.

He also said that Railways Ministry is working with many countries to increase the speed of operations, including France.

n++There are a lot of studies which are going on and they are in a very advanced stage, so we will start implementing that in the next few months time,n++ the Union Minister said.

He added that the Government is working towards introducing cutting-edge technology of future in all aspects of railways with it not only being imported but being co-developed in India.

n++We already had about 6-8 months ago, a programme in which we called all the major technology developers who had not yet fully developed, commercialized the technology which can take the speed of railways to more than 600 kmph and we are already working with them, companies like Hyperloop,n++ said Mr Prabhu.

Talking about the use of high-end technology on safety front, he said that self-propelled detection of tracks together with use of ultrasonic machines and geo-spatial technology to alert about unmanned railway crossings are underway.

On laying of railway tracks, he said that automatic track laying machines which are already being used on Dedicated Freight Corridor will now be tried all over the country.

n++This has already resulted in increasing the speed of putting the track which was only three kms. per day to almost eight kms. per day and the target is to take it to 20 kms. per day in the next three years and definitely we are on track for doing that,n++ said Mr Prabhu.

He said considering that capital expenditure needed for optimal technology has gone from Rs 30,000 crore a year to almost Rs 2,75,000 crore in the last 2.5 years shows the commitment of the Government.

On the rolling stock, he said that two major locomotives are already in use with one from French transport giant Alstom. n++It is going to bring in the best cutting edge technology, environment friendly, speed will be good, least fuel consumption and that will available in the next months time and that is going to be manufactured in India.n++

He said that another locomotive factory would be set up in West Bengal, n++We are yet to finalise the bid, but it will already be happening. That again will begin the best technology in fact, all the top global players are vying for it.n++

Highlighting that the Government is taking all these steps in a very transparent manner, the Union Minister said that companies like Siemens have made a consortium in this regard. n++So you can imagine how serious they are because otherwise they would have come on their own.n++

Mr Prabhu also informed that Railway Ministry has started working on revamping, refurbishing and retrofitting of 40,000 outdated coaches.

n++We have already stopped manufacturing non-LHB coaches from April 1, next year and all the LHB coaches will be manufactured, so you can imagine the technological up-gradation that is happening at all levels,n++ he said.

He said that Railway Ministry has also completely revamped the ticket-booking mobile application with many services being made available on one single application. n++This is going to bring in a completely different experience for the traveller because he can book it completely on his palm literally, not only booking but anything to do with railways.n++

Talking about the recently held huge roundtable conference on technology, he said that Railway Ministry was engaging with all the top global players that had participated in the same.

n++I think we have already taken very serious steps, to modernise and optimise the capacity of railway operations and the biggest other technology tool that we will be using and we have already started work on is rail cloud,n++ said Mr Prabhu.

He said that Railway Ministry has also started working on enterprise resource planning (ERP) which has the potential to save up to Rs 70,000 crore.

n++We are also using technology for each and every aspect of railways, including managerial practices which includes our internal processes to ensure that efficiency is allowed and in fact we will try to plug every possible area where there is a leakage, hoodwinking possible and the system will be made foolproof,n++ said the Union Railway Minister.

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Lupin may advance as Goa facility clears US FDA inspection
Jul 24,2017

Lupin announced the successful completion of a PAI inspection (Prior Approval Inspection) carried out by the United States Food and Drug Administration (USFDA) at its Goa manufacturing facility without any observations. The announcement was made after market hours on Friday, 21 July 2017.

Reliance Industries (RIL) held its 40th annual general meeting (AGM) on Friday, 21 July 2017. RIL Chairman Mukesh Ambani announced the launch of JioPhone, which is a 4G VoLTE-enabled feature phone. Reliance Jio JioPhone will hit the shelves starting the first week of September, and pre-orders begin 24 August 2017, he said. Reliance Jio has close to 100 million paid customers, added Ambani. The outcome of the AGM was disclosed to the stock exchanges after market hours on Friday, 21 July 2017.

Tata Motors said it is holding a meeting of its duly constituted committee of the board on 26 July 2017, to consider issue of non-convertible debentures (NCDs) aggregating to Rs 1000 crore in one or more tranches. The announcement was made after market hours on Friday, 21 July 2017.

State Bank of India (SBI) said that the executive committee of the central board (ECCB) of the bank at its meeting held on Friday, 21 July 2017, given approval for entering into a shareholder agreement with CA Rover Holdings (an affiliate of Carlyle Asia Partners IV), who will be the new partner in the banks Credit Card joint venture, and shall hold 26% stake in both the companies. The proposed transactions are subject to regulatory approvals. The announcement was made after market hours on Friday, 21 July 2017.

Among prominent earnings, Ambuja Cements, HDFC Bank, Indiabulls Housing Finance, Bharti Infratel and Zee Entertainment Enterprises are scheduled to announce April-June 2017 quarterly earnings today, 24 July 2017.

Avenue Supermarts net profit rose 47.56% to Rs 174.78 crore on 36.27% rise in total income to Rs 3620.96 crore in Q1 June 2017 over Q1 June 2016. The result was announced on Saturday, 22 July 2017.

Divis Laboratories net profit dropped 41.51% to Rs 176.54 crore on 17.67% fall in total income to Rs 850.88 crore in Q1 June 2017 over Q1 June 2016. The result was announced on Saturday, 22 July 2017.

Mangalore Refinery and Petrochemicals (MRPL) reported 67.43% fall in net profit to Rs 234.01 crore on 18.76% rise in total income to Rs 10282.85 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours on Friday, 21 July 2017.

Tata Sponge Iron reported 190.22% surge in net profit to Rs 30.56 crore on 57.7% rise in total income to Rs 185.27 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours on Friday, 21 July 2017.

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Lumax Industries consolidated net profit rises 17.79% in the June 2017 quarter
Jul 22,2017

Net profit of Lumax Industries rose 17.79% to Rs 15.16 crore in the quarter ended June 2017 as against Rs 12.87 crore during the previous quarter ended June 2016. Sales rose 15.04% to Rs 348.35 crore in the quarter ended June 2017 as against Rs 302.82 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales348.35302.82 15 OPM %7.047.71 - PBDT32.2025.26 27 PBT21.0215.06 40 NP15.1612.87 18

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IIFL Holdings consolidated net profit rises 44.02% in the June 2017 quarter
Jul 22,2017

Net profit of IIFL Holdings rose 44.02% to Rs 198.09 crore in the quarter ended June 2017 as against Rs 137.54 crore during the previous quarter ended June 2016. Sales rose 43.50% to Rs 1473.20 crore in the quarter ended June 2017 as against Rs 1026.63 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales1473.201026.63 43 OPM %64.9268.01 - PBDT390.14248.16 57 PBT375.28234.62 60 NP198.09137.54 44

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SE Investments consolidated net profit rises 2.15% in the June 2017 quarter
Jul 22,2017

Net profit of SE Investments rose 2.15% to Rs 17.60 crore in the quarter ended June 2017 as against Rs 17.23 crore during the previous quarter ended June 2016. Sales rose 15.64% to Rs 69.27 crore in the quarter ended June 2017 as against Rs 59.90 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales69.2759.90 16 OPM %68.7369.12 - PBDT21.4020.62 4 PBT20.0419.23 4 NP17.6017.23 2

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Avenue Supermarts standalone net profit rises 47.56% in the June 2017 quarter
Jul 22,2017

Net profit of Avenue Supermarts rose 47.56% to Rs 174.78 crore in the quarter ended June 2017 as against Rs 118.45 crore during the previous quarter ended June 2016. Sales rose 35.66% to Rs 3598.13 crore in the quarter ended June 2017 as against Rs 2652.39 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales3598.132652.39 36 OPM %8.438.85 - PBDT301.73211.54 43 PBT268.02182.79 47 NP174.78118.45 48

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IIFL Holdings standalone net profit rises 2384.81% in the June 2017 quarter
Jul 22,2017

Net profit of IIFL Holdings rose 2384.81% to Rs 19.63 crore in the quarter ended June 2017 as against Rs 0.79 crore during the previous quarter ended June 2016. Sales rose 648.04% to Rs 34.41 crore in the quarter ended June 2017 as against Rs 4.60 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales34.414.60 648 OPM %92.4462.39 - PBDT30.241.30 2226 PBT30.041.22 2362 NP19.630.79 2385

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Jammu and Kashmir Bank standalone net profit rises 31.95% in the June 2017 quarter
Jul 22,2017

Net profit of Jammu and Kashmir Bank rose 31.95% to Rs 30.19 crore in the quarter ended June 2017 as against Rs 22.88 crore during the previous quarter ended June 2016. Total Operating Income rose 0.48% to Rs 1680.32 crore in the quarter ended June 2017 as against Rs 1672.35 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Total Operating Income1680.321672.35 0 OPM %56.4057.32 - PBDT89.8435.61 152 PBT89.8435.61 152 NP30.1922.88 32

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Aro Granite Industries standalone net profit declines 93.80% in the June 2017 quarter
Jul 22,2017

Net profit of Aro Granite Industries declined 93.80% to Rs 0.31 crore in the quarter ended June 2017 as against Rs 5.00 crore during the previous quarter ended June 2016. Sales declined 17.70% to Rs 55.25 crore in the quarter ended June 2017 as against Rs 67.13 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales55.2567.13 -18 OPM %4.8914.35 - PBDT2.638.65 -70 PBT0.486.47 -93 NP0.315.00 -94

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Shilp Gravures standalone net profit rises 21.05% in the June 2017 quarter
Jul 22,2017

Net profit of Shilp Gravures rose 21.05% to Rs 2.53 crore in the quarter ended June 2017 as against Rs 2.09 crore during the previous quarter ended June 2016. Sales rose 2.69% to Rs 18.68 crore in the quarter ended June 2017 as against Rs 18.19 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales18.6818.19 3 OPM %24.8423.14 - PBDT4.864.20 16 PBT3.302.74 20 NP2.532.09 21

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Vama Industries standalone net profit rises 5220.00% in the June 2017 quarter
Jul 22,2017

Net profit of Vama Industries rose 5220.00% to Rs 2.66 crore in the quarter ended June 2017 as against Rs 0.05 crore during the previous quarter ended June 2016. Sales rose 39.57% to Rs 8.36 crore in the quarter ended June 2017 as against Rs 5.99 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales8.365.99 40 OPM %22.976.01 - PBDT3.400.13 2515 PBT3.320.07 4643 NP2.660.05 5220

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Lumax Industries standalone net profit declines 5.49% in the June 2017 quarter
Jul 22,2017

Net profit of Lumax Industries declined 5.49% to Rs 9.29 crore in the quarter ended June 2017 as against Rs 9.83 crore during the previous quarter ended June 2016. Sales rose 15.04% to Rs 348.35 crore in the quarter ended June 2017 as against Rs 302.82 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales348.35302.82 15 OPM %7.047.71 - PBDT25.1421.61 16 PBT13.9611.41 22 NP9.299.83 -5

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Divis Laboratories standalone net profit declines 41.51% in the June 2017 quarter
Jul 22,2017

Net profit of Divis Laboratories declined 41.51% to Rs 176.54 crore in the quarter ended June 2017 as against Rs 301.81 crore during the previous quarter ended June 2016. Sales declined 19.27% to Rs 821.20 crore in the quarter ended June 2017 as against Rs 1017.19 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales821.201017.19 -19 OPM %29.8139.69 - PBDT274.01419.68 -35 PBT241.70389.56 -38 NP176.54301.81 -42

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Menon Pistons standalone net profit declines 27.40% in the June 2017 quarter
Jul 22,2017

Net profit of Menon Pistons declined 27.40% to Rs 1.51 crore in the quarter ended June 2017 as against Rs 2.08 crore during the previous quarter ended June 2016. Sales declined 9.72% to Rs 30.29 crore in the quarter ended June 2017 as against Rs 33.55 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales30.2933.55 -10 OPM %10.3713.29 - PBDT3.394.20 -19 PBT2.313.11 -26 NP1.512.08 -27

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SE Investments standalone net profit rises 1.31% in the June 2017 quarter
Jul 22,2017

Net profit of SE Investments rose 1.31% to Rs 16.99 crore in the quarter ended June 2017 as against Rs 16.77 crore during the previous quarter ended June 2016. Sales rose 14.10% to Rs 63.92 crore in the quarter ended June 2017 as against Rs 56.02 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales63.9256.02 14 OPM %70.8270.71 - PBDT20.4819.93 3 PBT19.1318.55 3 NP16.9916.77 1

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