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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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Fervent Synergies standalone net profit rises 35.56% in the December 2016 quarter
Jan 20,2017

Net profit of Fervent Synergies rose 35.56% to Rs 0.61 crore in the quarter ended December 2016 as against Rs 0.45 crore during the previous quarter ended December 2015. Sales rose 1998.88% to Rs 18.68 crore in the quarter ended December 2016 as against Rs 0.89 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales18.680.89 1999 OPM %5.1980.90 - PBDT0.870.71 23 PBT0.870.70 24 NP0.610.45 36

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Gallantt Ispat standalone net profit rises 13.95% in the December 2016 quarter
Jan 20,2017

Net profit of Gallantt Ispat rose 13.95% to Rs 9.31 crore in the quarter ended December 2016 as against Rs 8.17 crore during the previous quarter ended December 2015. Sales declined 19.78% to Rs 114.50 crore in the quarter ended December 2016 as against Rs 142.74 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales114.50142.74 -20 OPM %12.409.53 - PBDT12.8512.20 5 PBT9.678.71 11 NP9.318.17 14

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Mindtree standalone net profit declines 15.67% in the December 2016 quarter
Jan 20,2017

Net profit of Mindtree declined 15.67% to Rs 118.40 crore in the quarter ended December 2016 as against Rs 140.40 crore during the previous quarter ended December 2015. Sales rose 5.37% to Rs 1175.80 crore in the quarter ended December 2016 as against Rs 1115.90 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales1175.801115.90 5 OPM %15.1718.30 - PBDT187.40215.90 -13 PBT154.70181.70 -15 NP118.40140.40 -16

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Swasti Vinayaka Art & Heritage Corporation standalone net profit declines 30.77% in the December 2016 quarter
Jan 20,2017

Net profit of Swasti Vinayaka Art & Heritage Corporation declined 30.77% to Rs 0.27 crore in the quarter ended December 2016 as against Rs 0.39 crore during the previous quarter ended December 2015. Sales declined 12.02% to Rs 1.83 crore in the quarter ended December 2016 as against Rs 2.08 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales1.832.08 -12 OPM %38.2543.75 - PBDT0.490.68 -28 PBT0.400.58 -31 NP0.270.39 -31

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Sintex Industries tumbles after weak Q3 outcome
Jan 20,2017

The result was announced during trading hours today, 20 January 2017.

Meanwhile, the BSE Sensex was down 251.51 points, or 0.92%, to 27,057.09.

On the BSE, so far 14.76 lakh shares were traded in the counter, compared with average daily volumes of 5.64 lakh shares in the past one quarter. The stock had hit a high of Rs 90 and a low of Rs 81.95 so far during the day.

The stock hit a 52-week high of Rs 91.80 on 30 October 2016. The stock hit a 52-week low of Rs 62.36 on 12 February 2016.

Sintex Industries makes a range of building materials and composites at its 16 plants in India. The company also makes mens shirting in premium fashion category.

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Volumes jump at Navkar Corporation counter
Jan 20,2017

Navkar Corporation clocked volume of 7.01 lakh shares by 14:17 IST on BSE, a 223.31-times surge over two-week average daily volume of 3,000 shares. The stock shed 0.45% to Rs 175.55

Mafatlal Industries notched up volume of 1.54 lakh shares, a 92.38-fold surge over two-week average daily volume of 2,000 shares. The stock surged 6.13% to Rs 317.

Dr. Lal PathLabs saw volume of 2.59 lakh shares, a 84.85-fold surge over two-week average daily volume of 3,000 shares. The stock fell 1.49% to Rs 1,075.

Monsanto India clocked volume of 42,000 shares, a 37.55 surge over two-week average daily volume of 1,000 shares. The stock shed 0.17% to Rs 2,249.

Atul saw volume of 48,000 shares, a 22.88-fold rise over two-week average daily volume of 2,000 shares. The stock rose 1.52% to Rs 2,280.

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Adani Power slumps after dismal Q3 results
Jan 20,2017

The result was announced during trading hours today, 20 January 2017.

Meanwhile, the BSE Sensex was down 248.06 points, or 0.91%, to 27,060.54.

On the BSE, so far 31.27 lakh shares were traded in the counter, compared with average daily volumes of 12.49 lakh shares in the past one quarter. The stock had hit a high of Rs 38.95 and a low of Rs 33.95 so far during the day.

The stock hit a 52-week high of Rs 38.95 on 20 January 2017. The stock hit a 52-week low of Rs 22.45 on 12 February 2016.

Adani Power reported net loss due to lower earnings before interest, tax, depreciation and amortization (EBITDA) and higher finance cost during the quarter. Consolidated total income fell 5.44% to Rs 5873 crore in Q3 December 2016 over Q3 December 2015, largely on account of lower plant load factor (PLF).

EBITDA fell 15.9% to Rs 1708 crore in Q3 December 2016 over Q3 December 2015, mainly due to lower merchant tariff and prior quarter income recognised in Q3 December 2015.

Finance cost increased 8.50% to Rs 1430 crore in Q3 December 2016 over Q3 December 2015, on account of higher working capital utilisation and impact of mark to market on foreign currency derivatives.

Adani Power is the largest private thermal power producer in India with an installed capacity of 10,480 megawatts.

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ABans Enterprises to announce December quarter result
Jan 20,2017

ABans Enterprises announced that the meeting of the Board of Directors will be held on 31 January 2017, inter alia, to consider and approve the Un-Audited Financial Results of the Company along with the limited review report for the Quarter ended 31 December 2016.

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Stellar Capital Services to hold EGM
Jan 20,2017

Stellar Capital Services announced that the Extra Ordinary General Meeting (EGM) of the Company will be held on 14 February 2017.

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J K Cement imposed with penalty of Rs 6.25 crore for alleged cartelization
Jan 20,2017

J K Cement has been imposed with a penalty of Rs 6.25 crore by Competition Commission of India vide Order dated 19 January 2017 in a reference filed by the Government of Haryana for alleged cartelization in 2012. The Company will file an appeal against the Order before the Competition Appellate Tribunal.

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Gagan Gases Board to meet for December quarter results
Jan 20,2017

Gagan Gases announced that the meeting of the Board of Directors of the Company will be held on 30 January 2017, to take on record unaudited financial results for the quarter ended 31 December 2016.

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SJ Corporation to announce December quarter results
Jan 20,2017

SJ Corporation announced that the meeting of the Board of Directors of the Company will be held on 04 February 2017, inter alia, to take on record the Unaudited (Provisional) Financial Results for the Quarter ended 31 December 2016.

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Adani Power drops on profit booking
Jan 20,2017

Meanwhile, the S&P BSE Sensex was down 206.81 points, or 0.76%, to 27,101.79

On BSE, so far 11.18 lakh shares were traded in the counter, compared with average daily volume of 12.49 lakh shares in the past one quarter. The stock hit a high of Rs 38.95 and a low of Rs 37.15 so far during the day. The stock hit a 52-week high of Rs 38.90 on 19 January 2017. The stock hit a 52-week low of Rs 22.45 on 12 February 2016.

The large-cap company has equity capital of Rs 3514.84 crore. Face value per share is Rs 10.

On a consolidated basis, Adani Power reported net loss of Rs 113.40 crore in Q2 September 2016, lower than net loss of Rs 404.74 crore in Q2 September 2015. Total income rose 1.49% to Rs 5869.90 crore in Q2 September 2016 over Q2 September 2015.

Adani Power is the largest private thermal power producer in India with an installed capacity of 10,480 megawatts (MW).

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Williamson Financial Services to announce Q3 and 9M results
Jan 20,2017

Williamson Financial Services announced that the Board of Directors of the Company at its Meeting to be held on 03 February 2017, will take into consideration the un-Audited Financial Results of the Company for the quarter and nine months ended 31 December 2016.

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Sanjivani Paranteral announces resignation of directors
Jan 20,2017

Sanjivani Paranteral announced that Mahendra Kalwankar and Narmdeshwar R Chaube, Directors of the Company have resigned as Directors w.e.f. 30 December 2016.

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