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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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NBCC (India) signs Memorandum of Business Exploration with BOLIX SA, Poland
Apr 18,2017

NBCC (India) has signed Memorandum of Business Exploration (MOBE) on 17 April 2017 with BOLIX SA, Poland for Joint Cooperation to promote External Thermal Insulation and Composite System (ETICS) for construction of energy efficient and environment friendly Green Buildings.

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ICICI Bank allots 64,200 equity shares
Apr 18,2017

ICICI Bank has allotted 64,200 equity shares under ESOS on 17 April 2017.

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JMG Corporation announces cessation of director
Apr 18,2017

JMG Corporation announced that Akansha Mishra has resigned from the position of Woman Director of the Company with effect from 17 April 2017.

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Hatsun Agro Product fixes record date for second interim dividend
Apr 18,2017

Hatsun Agro Product has fixed 08 May 2017 as record date for second interim dividend for FY 2016-17. The second interim dividend will be paid on or before 16 May 2017.

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VST Industries to pay final dividend
Apr 18,2017

VST Industries announced that final dividend will paid on 31 August 2017, subject to approval of shareholders.

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Board of Kamron Laboratories approves change in CFO
Apr 18,2017

Kamron Laboratories has informed BSE that the Board of Directors of the Company has appointed Sohan K. Laskari as Chief Financial Officer of the Company w.e.f. 17 April 2017. The Board of Directors has also taken note of resignation of Harshadkumar M. Nasit as Chief Financial Officer of the Company.

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Outcome of board meeting of Srestha Finvest
Apr 18,2017

Srestha Finvest announced that the Board of Directors of the Company at its meeting held on 18 April 2017 has transacted the following -

a) The Board of Directors have decided to publish the Audited Results for the Quarter/year ended 31 March 2017 on or before 30 May 2017. (b) The Board considered and approved the compliances relating to quarter ended 31 March 2017. Also, discussed and reviewed the ongoing business propositions. (c) The Board decided to continue its listing at The Metropolitan Stock Exchange of India (MSEI) and has withdrawn the Application for Delisting from the exchange.

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Board of Insecticides India appoints company secretary and compliance officer
Apr 18,2017

Insecticides India announced that the Board of Directors has appointed Sandeep Kumar as Company Secretary and Compliance Officer of the Company, w.e.f. 18 April 2017.

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Board of Sumeet Industries approves change in directorate
Apr 18,2017

Sumeet Industries announced that the Board of Directors at its meeting held on 18 April 2017 has considered and approved inter-alia the following:

1. Shankarlal Somani will now designated as Non-Executive Chairman of the company w.e.f. 01 April 2017.

2. Sumeet Kumar Somani, Executive Director of the company will act as Managing Director of the Company w.e.f. 01 April 2017 subject to approval of the Shareholders.

3. Abhishek Gupta, Chartered Accountant has appointed as CFO of the company.

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Outcome of board meeting of Yuvraaj Hygiene Products a
Apr 18,2017

Yuvraaj Hygiene Products announced that the Board of Directors at its meeting held on 18 April 2017 has approved the following -

Allotment of 74,38,000 warrants convertible into equity shares of Re 1 each of the Company at an issue price of Re 1 per share to Benu Kampani, Promoter of the Company, on preferential basis.

Allotment of 35,23,000 equity shares of Re 1 each at par to Benu Kampani, Promoter upon conversion of 35,23,000 warrants issued on preferential basis upon part conversion of outstanding loan payable to her equivalent to balance 75% of the issue price of the said warrants.

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Board of Navigant Corporate Advisors accepts resignation of directors
Apr 18,2017

The Board of Navigant Corporate Advisors at its meeting held on 18 April 2017 has accepted the resignation of Amit Lahoti and Anita Lahoti from the office of Non Executive Non Independent Directors of the company.

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Monsoon Seasonal Rainfall likely to be 96% of the Long Period Average
Apr 18,2017

The first stage forecastn++ of Southwest monsoon seasonal rainfall was issued by Indian Meteorological Department(IMD) in New Delhi today.n++ IMD has forecast that quantitatively, the monsoon seasonal rainfall is likely to be 96% of the Long Period Average (LPA) with an error of n++ 5%. Forecast assessment suggests 38% of probability for near normal monsoon rainfall.

n++IMD issues various monthly and seasonal forecasts of rainfall for the southwest monsoon season (June to September). Operational forecasts for the southwest monsoon season rainfall are issued in two stages. The first stage forecast has been issued today and the second stage forecast will be issued in June. These forecasts are prepared using state-of-the-art Statistical Ensemble Forecasting system (SEFS) that is critically reviewed and improved regularly through in-house research activities. Since 2012, IMD has been using the dynamical global climate forecasting system (CFS) model, which was developed under the Monsoon Mission. The original coupled ocean-atmospheric model framework of CFS was adopted from the National Centres for Environmental Prediction (NCEP), USA. The CFS model was further modified to provide improved rainfall forecasts over the Indian monsoon region through research efforts taken up under the Monsoon Mission.

The forecast for 2017 southwest monsoon rainfall over the country as a whole based on both the SEFS and the Monsoon Mission Climate Forecasting System (MMCFS) are as follows. IMDs SEFS model for the April forecast uses the following 5 predictors that require data monitored up to March.

S. NoPredictorPeriod1

Then++ Sea Surface Temperature (SST) Gradient

December + January

between North Atlantic andn++ North Pacific2

Equatorial South Indian Ocean SST

February

3

East Asia Mean Sea Level Pressure

February + March

4

Northwest Europe Land Surface Air Temperature

January

5

Equatorial Pacific Warm Water Volume

February + March

Sea Surface Temperature (SST) Conditions in the equatorial Pacific & Indian Ocean

The weak La Nina conditions developed in the later part of the last monsoon season peaked in December 2016 and started weakening thereafter. Currently, neutral conditions are prevailing over the equatorial Pacific. The atmospheric conditions over the Pacific also reflect neutral El Nino conditions. The latest forecast from MMCFS indicates weak El Nino conditions to develop during the latter part of the monsoon season. However, there is no one to one relationship between El Nino and Indian Monsoon. For example, during 34% of El Nino years, monsoon season rainfall was normal or above normal.

At present, neutral Indian Ocean Dipole (IOD) conditions are prevailing over the Indian Ocean. The latest forecast from the MMCFS indicates weak positive IOD conditions are likely to develop during the middle of the monsoon season and to persist for some more months subsequently. Positive IOD conditions are likely to be favourable for a normal/above normal monsoon.

As the extreme sea surface temperature conditions over the Pacific particularly El Nino conditions over the Pacific (El Nino or La Nina) and positive IOD development over the equatorial Indian Ocean are known to have strong influence on the Indian summer monsoon, IMD is carefully monitoring the sea surface conditions over the Pacific and Indian oceans.

Forecast For the 2017 Southwest monsoon Season (June - Season) rainfall over the Country as a whole n++

n++ n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++ Monsoon Mission Coupled Forecasting System (MMCFS) based Assessment

For generating the forecast for the 2017 southwest Monsoon season rainfall, atmospheric and oceanic initial conditions during March 2017 were used. The forecast was computed as the average of the 44 ensemble members. The forecast based on the MMCFS suggests that the monsoon rainfall during the 2017 monsoon season (June to September) averaged over the country as a whole is likely to be 96% n++ 5%of the Long Period Average (LPA).

n++ n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++ Forecast Based on the Operational Statistical Ensemble Forecasting System (SEFS)

Quantitatively, the monsoon seasonal rainfall is likely to be 96% of the Long Period Average (LPA) with a model error of n++ 5%. Further, forecasts for the seasonal rainfall for the country suggest 38% probability for near normal rainfall scenario.

Summary of the Forecast for the 2017 southwest monsoon Rainfall

1. n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++ Quantitatively, the monsoon seasonal rainfall is likely to be 96% of the Long Period Average (LPA) with an error of n++ 5%.

2. n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++ Forecast assessment suggests 38% of probability for near normal monsoon rainfall

IMD will issue the update forecasts in early June, 2017as a part of the second stage long range forecast of monsoon rainfall. Along with the update forecast, separate forecasts for the monthly (July and August) rainfall over the country as a whole and seasonal (June-September) rainfall over various geographical regions of India will also be issued. By that time, more information on the evolution of El Nino and IOD will be available.

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Captain Polyplast inaugurates deal with IOC
Apr 18,2017

Captain Polyplast has inaugurated the deal with IOC as Del Credere Associates cum Consignment Stockist for Polymer marketing in Gujarat state.

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Tata Consultancy Services consolidated net profit rises 4.33% in the March 2017 quarter
Apr 18,2017

Net profit of Tata Consultancy Services rose 4.33% to Rs 6622.00 crore in the quarter ended March 2017 as against Rs 6347.00 crore during the previous quarter ended March 2016. Sales rose 4.19% to Rs 29642.00 crore in the quarter ended March 2017 as against Rs 28449.00 crore during the previous quarter ended March 2016.

For the full year,net profit rose 8.30% to Rs 26357.00 crore in the year ended March 2017 as against Rs 24338.00 crore during the previous year ended March 2016. Sales rose 8.58% to Rs 117966.00 crore in the year ended March 2017 as against Rs 108646.00 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales29642.0028449.00 4 117966.00108646.00 9 OPM %27.4327.79 -27.3928.24 - PBDT9121.008812.00 4 36500.0033728.00 8 PBT8616.008317.00 4 34513.0031840.00 8 NP6622.006347.00 4 26357.0024338.00 8

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Tata Consultancy Services standalone net profit rises 1.83% in the March 2017 quarter
Apr 18,2017

Net profit of Tata Consultancy Services rose 1.83% to Rs 5833.00 crore in the quarter ended March 2017 as against Rs 5728.00 crore during the previous quarter ended March 2016. Sales rose 5.16% to Rs 23406.00 crore in the quarter ended March 2017 as against Rs 22258.00 crore during the previous quarter ended March 2016.

For the full year,net profit rose 2.50% to Rs 23653.00 crore in the year ended March 2017 as against Rs 23075.00 crore during the previous year ended March 2016. Sales rose 7.95% to Rs 92693.00 crore in the year ended March 2017 as against Rs 85864.00 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales23406.0022258.00 5 92693.0085864.00 8 OPM %28.6930.09 -29.2231.51 - PBDT7765.007634.00 2 31641.0030798.00 3 PBT7366.007250.00 2 30066.0029339.00 2 NP5833.005728.00 2 23653.0023075.00 3

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