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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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Panacea Biotec reports standalone net loss of Rs 25.49 crore in the March 2017 quarter
Jun 02,2017

Net loss of Panacea Biotec reported to Rs 25.49 crore in the quarter ended March 2017 as against net profit of Rs 72.15 crore during the previous quarter ended March 2016. Sales declined 17.78% to Rs 167.02 crore in the quarter ended March 2017 as against Rs 203.15 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 86.25 crore in the year ended March 2017 as against net profit of Rs 0.87 crore during the previous year ended March 2016. Sales declined 18.06% to Rs 530.09 crore in the year ended March 2017 as against Rs 646.90 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales167.02203.15 -18 530.09646.90 -18 OPM %28.6027.49 -12.9417.39 - PBDT30.5740.06 -24 19.4723.07 -16 PBT14.5223.03 -37 -46.24-48.25 4 NP-25.4972.15 PL -86.250.87 PL

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Senbo Industries reports standalone net loss of Rs 0.05 crore in the March 2017 quarter
Jun 02,2017

Net Loss of Senbo Industries reported to Rs 0.05 crore in the quarter ended March 2017 as against net loss of Rs 0.45 crore during the previous quarter ended March 2016. There were no Sales reported in the quarter ended March 2017 and during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 0.32 crore in the year ended March 2017 as against net loss of Rs 0.64 crore during the previous year ended March 2016. There were no Sales reported in the year ended March 2017 and during the previous year ended March 2016.

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Skyline Ventures India reports standalone nil net profit/loss in the March 2017 quarter
Jun 02,2017

Skyline Ventures India reported no net profit/loss in the quarter ended March 2017 as against net profit of Rs 0.13 crore during the previous quarter ended March 2016. There were no Sales reported in the quarter ended March 2017 as against Rs 7.85 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 0.06 crore in the year ended March 2017. There were no net profit/loss reported during the previous year ended March 2016. Sales declined 78.77% to Rs 7.27 crore in the year ended March 2017 as against Rs 34.25 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales07.85 -100 7.2734.25 -79 OPM %02.17 --0.830 - PBDT00.17 -100 -0.060 0 PBT00.17 -100 -0.060 0 NP00.13 -100 -0.060 0

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Auto Pins (India) reports standalone net profit of Rs 0.06 crore in the March 2017 quarter
Jun 02,2017

Net profit of Auto Pins (India) reported to Rs 0.06 crore in the quarter ended March 2017 as against net loss of Rs 0.07 crore during the previous quarter ended March 2016. Sales rose 90.11% to Rs 5.38 crore in the quarter ended March 2017 as against Rs 2.83 crore during the previous quarter ended March 2016.

For the full year,net profit reported to Rs 0.17 crore in the year ended March 2017 as against net loss of Rs 0.38 crore during the previous year ended March 2016. Sales rose 62.80% to Rs 13.48 crore in the year ended March 2017 as against Rs 8.28 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales5.382.83 90 13.488.28 63 OPM %5.02-19.08 -3.93-8.94 - PBDT0.19-0.01 LP 0.44-0.23 LP PBT0.10-0.05 LP 0.21-0.36 LP NP0.06-0.07 LP 0.17-0.38 LP

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Seven MoUs/Agreements signed on the sidelines of the 18th India-Russia Annual Summit (June 02, 2017)
Jun 02,2017

List of MoUs/Agreements signed on the sidelines of the 18th India-Russia Annual Summit (June 02, 2017)

1. Protocol No.2 to the Agreement dated December 5, 2008 between the Government of the Republic of India and the Government of the Russian Federation

2. Agreement between Heavy Engineering Corporation Limited and Joint Stock Company Cascade - Technologiesn++ for setting up of a Special Purpose Vehicle for railways

3. Memorandum of Understanding between SREI Infrastructure Finance Limited and State Corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank) on Russian export support and participation in the development of India-Russia capital goods financing/leasing business

4. Agreement on Cooperation between JITF Urban Infrastructure Services Limited (Republic of India), Jindal Rail Infrastructure Limited (Republic of India), Joint Stock Company Russian Export Centre (Russian Federation), and Limited Liability Company Management Company RailTransHolding (Russian Federation)

5. Memorandum of Understanding between National Investment Promotion Agency Invest India and the Business Council for Cooperation with India concerning the promotion of investment in India and Russia

6. Cooperation Agreement between National Investment Promotion Agency Invest India and the Roscongress Foundation

7. Memorandum of Understanding between Sun Group Private Limited and Joint Stock Company Pribor

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Hong Kong Stocks up near two-year high
Jun 02,2017

The Hong Kong stock market finished session at a near two-year high on Friday, 02 June 2017, buoyed by fresh record closing highs of all the three major US benchmarks overnight, with casino operators leading rally after Macaus gaming revenues beat market expectations. The Hang Seng Index gained 0.4%, or 114.83 points, to close at 25,924.05, the highest finish since July 3, 2015. The Hang Seng China Enterprises Index, which tracks the performance of Chinese companies listed in Hong Kong, also added 0.4%, or 46.55 points, to end at 10,666.43. Turnover increased slightly to HK$85.2 billion from HK$84.6 billion on Thursday. For the week, the Hang Seng Index advanced 1.1%.

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China Stocks edge up
Jun 02,2017

The Mainland China equity market closed marginally higher on Friday, 02 June 2017, as liquidity concern crippled trading sentiment. Market gains were, however, capped as Chinese investors were worried about tightening liquidity and uncertainty over economic recovery. The benchmark Shanghai Composite Index edged up 0.1% to 3,105.54 and turnover shrank to 15.4 billion yuan

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Nikkei ends at 22-month high
Jun 02,2017

The Japan share market finished session at 22-months high on Friday, 02 June 2017, as risk sentiments buoyed up by tracking fresh highs for major Wall Street indexes overnight and yens weakening against the dollar. The markets advance was also attributed to stronger economic growth in Japan and in the United States, as well as improved corporate profits. The 225-issue Nikkei jumped 1.60%, or 317.25 points, to close at 20,177.28, the first time it has crossed 20,000 since December 2015 and the highest since August that year. The broader Topix index of all first-section shares gained 1.64%, or 26.06 points, to end at 1,612.20. Rising stocks outnumbered declining ones on the Tokyo Stock Exchange by 2153 to 934 and 289 ended unchanged. The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was down 1.58% to 13.68 a new 5-year low.

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Australia Stocks gain for fourth day
Jun 02,2017

Australian equity market ended stronger for fourth straight session on Friday, 02 June 2017, on tracking positive lead from Wall Street overnight, reasonable economic data and expectations central banks will remain benign. Most of ASX sectors were stronger, with banks stocks being major gainers on bargain hunting after heavy selling in May, although energy stocks were held back by continued weakness in oil prices in Asian trading and utilities were pulled down by a fall in AGL Energy shares after Macquarie lowered its recommendation to underperform from neutral. At the close, the benchmark S&P/ASX 200 Index inclined 0.87% to 5788.10 and the broader All Ordinaries Index added 0.84% to 5821.10. Rising stocks outnumbered declining ones on the Australia Stock Exchange by 637 to 454 and 345 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 3.67% to 11.473 a new 1-month low.

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India - EAEU FTA Negotiations to be Launched Soon: Secretary, DIPP
Jun 02,2017

The Government of India as well as the governments of the Eurasian Economic Union (EAEU) member countries have decided to launch negotiations for an India-EAEU free trade agreement (FTA) shortly, said Mr. Ramesh Abhishek, Secretary, Department of Industrial Policy and Promotion, Ministry of Commerce and Industry.

The Secretary observed that Indias trade with the EAEU Region is barely USD 8.4 billion and this is well below potential. It is for this reason that India and the EAEU had decided to set up a Joint Feasibility Study Group on the India - EAEU FTA at SPIEF in 2015. This report has since been finalized and accepted by the Government of India and governments of the individual EAEU countries following which negotiations on the FTA are to be launched.

He stated there was a need to promote connectivity between India and the EAEU region and the International North South Transport Corridor would be extremely critical for this purpose. Mr. Abhishek also highlighted the role being played by the n++Green Corridorn++ in promoting trade facilitation between India and Russia. He felt that this Corridor could be extended to the other EAEU countries in due course.

Ms. Veronika Nikishina, Minister for Trade, Eurasian Economic Commission, stated that the EAEU has so far only concluded one FTA with Vietnam and India would be the second. This demonstrates the importance being placed on India by the EAEU.

Ms. Shobana Kamineni, President, CII, noted that a strong FTA between India and the EAEU will help strengthen the India - EAEU strategic Partnership.

Mr. Chandrajit Banerjee, Director General, CII, stated that the potential India EAEU FTA is just one part of the strategic partnership. It will provide a foundation for further deepening of ties between India and members of the EAEU.

The opportunities would open up in areas such as infrastructure development, energy, pharmaceuticals, banking and finance, IT and transportation among others.

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Corporate Courier and Cargo approves Scheme of Arrangement
Jun 02,2017

The Board of Corporate Courier and Cargo at the meeting on 02nd June 2017 has approved the Composite Scheme of Arrangement involving the Demerger of Real Estate Undertaking of the Company with Mahesh Developers Private Limited and demerger of Engineering Services undertaking with Harish Textile Engineers Private Limited.

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RBL Bank allots equity shares
Jun 02,2017

RBL Bank has allotted 284,564 equity shares of face value Rs. 10 each on June 2, 2017 under the ESOP Schemes of the Bank. Consequent to the above allotment, the paid up share capital of the Bank has increased from 376,163,023 equity shares of Rs. 10 each aggregating Rs. 3,761,630,230 to 376,447,587 equity shares of Rs. 10 each aggregating Rs. 3,764,475,870.

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Suzlon Energy updates on Scheme of Amalgamation and Arrangement
Jun 02,2017

Suzlon Energy has announced that the Order received from the National Company Law Tribunal, Ahmedabad Bench approving the Scheme of Scheme of Amalgamation and Arrangement between SE Blades Limited, SE Electricals Limited, Suzlon Wind International Limited and Suzlon Structures Limited (now known as Suzlon Global Services Limited) with Suzlon Energy Limited and their respective shareholders and creditors has become effective from 17th June 2017.

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Chennai Petroleum Corporation Chairman ceases
Jun 02,2017

Chennai Petroleum Corporation announced that B Ashok the Non-Executive Chairman has ceased from his position subject to attainment of superannuation on 31 May 2017.

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DCB Bank allots equity shares
Jun 02,2017

DCB Bank has allotted 85,070 equity shares of Rs.10/- each on June 01, 2017, pursuant to the terms of the Employee Stock Option Plan (ESOP) of the Bank.

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