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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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Triveni Enterprises to hold board meeting
May 22,2017

Triveni Enterprises will hold a meeting of the Board of Directors of the Company on 29 May 2017, for approving Audited Financial Results For The Quarter & Year Ended 31St March, 2017.

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Shiv Om Investment & Consultancy to hold board meeting
May 22,2017

Shiv Om Investment & Consultancy will hold a meeting of the Board of Directors of the Company on 30 May 2017, to take on record the audited financial result of the Company for the quarter and year ended 31st March, 2017 and any other matter with the permission of the Chair.

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Trans Freight Containers to hold board meeting
May 22,2017

Trans Freight Containers will hold a meeting of the Board of Directors of the Company on 30 May 2017, among other things, to approve the Audited Financial Results for the fourth Quarter and Financial Year ended 31st March, 2017.

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Joy Realty to hold board meeting
May 22,2017

Joy Realty will hold a meeting of the Board of Directors of the Company on 29 May 2017, to approve Audited Financial Result for the quarter and year ended 31st March, 2017 and other agendas.

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Nilkanth Engineering to hold board meeting
May 22,2017

Nilkanth Engineering will hold a meeting of the Board of Directors of the Company on 26 May 2017, to consider and approve the Audited Financial Result for the Quarter and year ended 31st March, 2017.

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Meenakshi Steel Industries to hold board meeting
May 22,2017

Meenakshi Steel Industries will hold a meeting of the Board of Directors of the Company on 26 May 2017, to consider and approve the Audited Financial Results for Quarterly and year ended 31st March, 2017.

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Board of Electrosteel Castings recommends final dividend
May 22,2017

Electrosteel Castings announced that the Board of Directors of the Company at its meeting held on 19 May 2017, inter alia, have recommended the final dividend of Rs 0.5 per equity Share (i.e. 50%) , subject to the approval of the shareholders.

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Indiabulls Asset Reconstruction Company gets CoR from RBI
May 22,2017

Indiabulls Asset Reconstruction Company (ARC), a wholly owned subsidiary of Indiabulls Ventures, has been granted the Certificate of Registration (CoR) by the Reserve bank of India (RBI) under Section 3 of the SARFAESI Act, 2002.

Indiabulls Ventures (IVL) is the sole sponsor of the ARC and owns 100% equity stake in the company. IVL has already infused Rs 100 crore equity in the ARC and is fully compliant with the requisite criteria laid down by RBI vide its latest guidelines.

The company intends to start its operations shortly.

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M&M advances on plans to invest in high-end electric powertrain tech
May 22,2017

The announcement was made on Sunday, 21 May 2017.

Meanwhile, the S&P BSE Sensex was up 176.15 points or 0.58% at 30,641.07.

On the BSE, 1,597 shares were traded on the counter so far as against the average daily volumes of 1.55 lakh shares in the past one quarter. The stock had hit a high of Rs 1,341 and a low of Rs 1,333.55 so far during the day.

Mahindra & Mahindra (M&M) announced that it has plans to invest directly and/or through its subsidiaries in high-end electric powertrain technology as part of its plan for the future of mobility; and electrification of some of its existing and future products.

The investments will also be utilised towards increasing the capacity for electric powertrains and electric vehicles. The high end electric powertrains will be used for the Groups future line up of electric vehicles. As the pioneers of electric vehicles in the country, the Group is committed towards making electric vehicles more accessible in order to build a clean and green tomorrow.

The companys announcement is in line with its efforts to accelerate the transformation as well as be in-sync with the Government of Indias thrust on promoting hybrid and electric mobility in the country, through the ambitious National Electric Mobility Mission Plan 2030.

M&Ms net profit rose 33.3% to Rs 1112.27 crore on 0.3% decline in net sales to Rs 10860.05 crore in Q3 December 2016 over Q3 December 2015.

M&M enjoys a leadership position in tractors and utility vehicles in India.

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Mahindra & Mahindra plan to invest in high-end electric powertrain technology
May 22,2017

Mahindra & Mahindra announced that the Company plans to invest directly and/or through its subsidiary(ies) in -

- high-end electric powertrain technology as part of its plan for the future of mobility; and

- electrification of some of its existing and future products

The investments will also be utilised towards increasing the capacity for electric powertrains and electric vehicles.

The high end electric powertrains will be used for the Groups future line up of electric vehicles.

As the pioneers of electric vehicles in the country, the Group is committed towards making electric vehicles more accessible in order to build a clean and green tomorrow.

The Companys announcement is in line with its efforts to accelerate the transformation as well as be in-sync with the Government of Indias thrust on promoting hybrid and electric mobility in the country, through the ambitious National Electric Mobility Mission Plan 2030.

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L&T Technology Services positioned in Winners Circle in Industry 4.0 Services Blueprint Assessment
May 22,2017

L&T Technology Services announced that it has been positioned in the Winners Circle by HfS Research, The Services Research Company in its maiden Industry 4.0 Services Blueprint Assessment.

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M&M may gain on plans to invest in high-end electric powertrain technology
May 22,2017

Mahindra & Mahindra (M&M) announced that the company plans to invest directly and/or through its subsidiary(ies) in high-end electric powertrain technology as part of its plan for the future of mobility; and electrification of some of its existing and future products.

The investments will also be utilised towards increasing the capacity for electric powertrains and electric vehicles. The high end electric powertrains will be used for the Groups future line up of electric vehicles. As the pioneers of electric vehicles in the country, the Group is committed towards making electric vehicles more accessible in order to build a clean and green tomorrow.

The companys announcement is in line with its efforts to accelerate the transformation as well as be in-sync with the Government of Indias thrust on promoting hybrid and electric mobility in the country, through the ambitious National Electric Mobility Mission Plan 2030. The announcement was made on Sunday, 21 May 2017.

GAIL (India) announces Q4 results today, 22 May 2017.

Adani Ports and Special Economic Zone announced that Board of Directors at the meeting on 24 May 2017 will consider to raise funds by issue of equity shares/ convertible bonds through qualified institutional placement (QIP)/GDR/ADR/FCCBs/FCEBs/convertible securities.

The board will also consider issue secured/ unsecured redeemable non-convertible debentures on private placement basis.

The board will consider issue of bonds which may be issued in one or more tranches, in India or overseas, and that may be listed in any one or more stock exchanges in India or overseas, provided that the total amount does not exceed $1.5 billion on private placement basis or otherwise, to any persons, entities, bodies corporate, companies, banks, financial institutions and any other categories of eligible investors permitted to invest in the Bonds under applicable laws. The announcement was made on Saturday, 20 May 2017.

VRL Logistics net profit fell 29.72% to Rs 8.38 crore on 6.58% rise in total income to Rs 444.98 crore in Q4 March 2017 over Q4 March 2016. The announcement was made after market hours on Friday, 19 May 2017.

Bhushan Steel announced that it had participated in iron ore mine open bidding for the Kalmong West Block in Sundergarh district having a reserve of 92 million tonne and won the auction. The announcement was made after market hours on Friday, 19 May 2017.

Mahindra Holidays and Resorts Indias net profit rose 4.5% to Rs 31.8 crore on 26.3% rise in total income to Rs 315.7 crore in Q4 March 2017 over Q4 March 2016. The announcement was made after market hours on Friday, 19 May 2017.

The board approved 1 bonus issue of share for 2 shares held.

Camlin Fine Sciences board at a meeting held on 19 May 2017 has approved to raise funds not exceeding Rs 250 crore by way of QIP/ GDR/ADR/FCCB/ other securities linked to equity/ preference shares/ convertible securities, subject to approval of shareholders. The board has appointed Santosh Parab as CFO of the company with effect from 10 May 2017. The announcement was made after market hours on Friday, 19 May 2017.

Hindustan Copper has prepared a feasibility report for a project to manufacture copper cathode from sulphide copper concentrate through a State of the Art Hydro-Metallurgy technology. The capacity of the proposed plant is 1 lakh tonne per annum at an estimated cost of Rs 3025 crore. The company has initiated process to obtain investment approval from CCEA, Govt. of India. The announcement was made after market hours on Friday, 19 May 2017.

Sun Pharma Advanced Research Company said it has received a Complete Response Letter (CRL) from the USFDA for its New Drug Application (NDA) for Elepsia XRTM, Levetiracetam extended-release tablets 1000 mg and 1500 mg. The CRL references the recent inspection of the Sun Pharmaceutical Industries (SPIL)s Halol manufacturing site by USFDA and indicates that, satisfactory resolution of the deficiencies identified during the inspection is required before the final approval of Elepsia XRTM can be granted.

SPARC had out-licensed Elepsia XRTM to a subsidiary of Sun Pharmaceutical Industries in July 2016. As informed to the cmpany, SPIL is working with USFDA for resolving the cGMP deviations at the Halol facility and has taken several corrective measures. The announcement was made after market hours on Friday, 19 May 2017.

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Shaily Engineering Plastics standalone net profit rises 76.34% in the March 2017 quarter
May 20,2017

Net profit of Shaily Engineering Plastics rose 76.34% to Rs 7.23 crore in the quarter ended March 2017 as against Rs 4.10 crore during the previous quarter ended March 2016. Sales rose 22.86% to Rs 66.59 crore in the quarter ended March 2017 as against Rs 54.20 crore during the previous quarter ended March 2016.

For the full year,net profit rose 2.52% to Rs 15.88 crore in the year ended March 2017 as against Rs 15.49 crore during the previous year ended March 2016. Sales rose 9.24% to Rs 246.37 crore in the year ended March 2017 as against Rs 225.54 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales66.5954.20 23 246.37225.54 9 OPM %19.5116.96 -16.6717.30 - PBDT13.487.91 70 36.5531.68 15 PBT9.784.32 126 23.2021.42 8 NP7.234.10 76 15.8815.49 3

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Sumedha Fiscal Services standalone net profit rises 4500.00% in the March 2017 quarter
May 20,2017

Net profit of Sumedha Fiscal Services rose 4500.00% to Rs 1.38 crore in the quarter ended March 2017 as against Rs 0.03 crore during the previous quarter ended March 2016. Sales rose 146.12% to Rs 6.35 crore in the quarter ended March 2017 as against Rs 2.58 crore during the previous quarter ended March 2016.

For the full year,net profit rose 209.38% to Rs 2.97 crore in the year ended March 2017 as against Rs 0.96 crore during the previous year ended March 2016. Sales rose 35.92% to Rs 14.87 crore in the year ended March 2017 as against Rs 10.94 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales6.352.58 146 14.8710.94 36 OPM %18.434.65 -22.0611.24 - PBDT2.230.30 643 4.852.02 140 PBT2.110.18 1072 4.411.54 186 NP1.380.03 4500 2.970.96 209

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Lactose (India) reports standalone net profit of Rs 1.14 crore in the March 2017 quarter
May 20,2017

Net profit of Lactose (India) reported to Rs 1.14 crore in the quarter ended March 2017 as against net loss of Rs 0.12 crore during the previous quarter ended March 2016. Sales rose 23.68% to Rs 8.93 crore in the quarter ended March 2017 as against Rs 7.22 crore during the previous quarter ended March 2016.

For the full year,net profit declined 2.14% to Rs 2.74 crore in the year ended March 2017 as against Rs 2.80 crore during the previous year ended March 2016. Sales rose 3.55% to Rs 34.98 crore in the year ended March 2017 as against Rs 33.78 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales8.937.22 24 34.9833.78 4 OPM %42.6714.13 -32.6530.79 - PBDT2.741.07 156 7.757.22 7 PBT1.870.21 790 4.343.88 12 NP1.14-0.12 LP 2.742.80 -2

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