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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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Confidence Petroleum India standalone net profit declines 46.32% in the March 2017 quarter
Jun 01,2017

Net profit of Confidence Petroleum India declined 46.32% to Rs 0.51 crore in the quarter ended March 2017 as against Rs 0.95 crore during the previous quarter ended March 2016. Sales rose 76.44% to Rs 160.14 crore in the quarter ended March 2017 as against Rs 90.76 crore during the previous quarter ended March 2016.

For the full year,net profit rose 186.10% to Rs 5.35 crore in the year ended March 2017 as against Rs 1.87 crore during the previous year ended March 2016. Sales rose 38.60% to Rs 485.84 crore in the year ended March 2017 as against Rs 350.53 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales160.1490.76 76 485.84350.53 39 OPM %5.7316.36 -8.269.83 - PBDT6.7811.63 -42 30.1524.98 21 PBT0.701.39 -50 7.642.70 183 NP0.510.95 -46 5.351.87 186

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Industrial Investment Trust changes directorate
Jun 01,2017

Industrial Investment Trust has announced that Bhagyam Ramani has resigned from her position of director of the company w.e.f. 01st June 2017.

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Blue Chip Tex Industries appoints company secretary
Jun 01,2017

Blue Chip Tex Industries has appointed Hitesh Kavediya as a Whole-time Company Secretary of the Company in their Board meeting held on 25th May, 2017 w.e.f. 1st June, 2017.He will also be acting as the Compliance officer w.e.f. 1st June, 2017.

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CSL Finance gets nod for Scheme of Amalgamation
Jun 01,2017

CSL Finance has announced that the Honble National Company Law Tribunal, Principal Bench at New Delhi has passed the order sanctioning the Scheme of Arrangement between CSL Finance Limited and CSL Holdings Private Limited on 30th May, 2017 and the company has received the authenticated copy of the order with the scheme annexed from the NCLT Principal Bench. The company is in the process of filing the said order with the Registrar of Companies as required under the Companies Act, 2013.

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Hindustan Copper inaugurates Banwas Mine
Jun 01,2017

Hindustan Copper has on 31st May 2017 has inaugurated Banwas Mine located at Khetri Copper Complex, Rajasthan after completion of mine construction. The production capacity of the mine is 6 lakh tonne per annum of copper ore. The production will start from current financial year.

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Moodys: Diverging interest rates will widen profitability gap between US banks and global peers
Jun 01,2017

The profitability gap between US banks and global peers will widen over the next 12 to 18 months as US interest rates rise and persistently low or even negative rates in Europe and Japan intensify profitability pressures on their banks, says Moodys Investors Service in a report.

We expect the US Federal Reserve Bank to progressively increase interest rates over 2017/18, allowing US banks to earn higher interest on their lending activities and investment securities, says Michael Rohr, Vice President and Senior Credit Officer at Moodys. In contrast, we expect interest rates to continue to remain very low in Europe into 2017 and 2018, and pressures on profitability will likely grow as a result.

Rising rates will support US banks net interest margins and income due to the high share of interest-sensitive and largely variable-rate assets in US banks balance sheets contributing to their revenues and profitability. In addition, most commercial loans are generally linked to one- and three-month LIBOR and therefore highly reactive to changes in short-term interest rates.

For European banks, the continued downward re-pricing of loans, in a context of funding costs which have little room to reduce further, will intensify profitability pressures. Banks with a high share of net interest income as a percentage of their revenues and a low share of interest-sensitive wholesale funding, such as small, regional banks in Germany and Switzerland, are most at risk.

European banks that rely on both a high share of household deposit funding and a high share of revenues from net interest income will be most exposed to profitability pressures, explains Mr. Rohr. This is because these banks will be increasingly constrained in their ability to pass on extremely low or even negative interest rates to their non-corporate depositors, leading to a faster compression of their net interest income.

When short-term interest rates eventually rise in Europe, a scenario Moodys currently anticipates for the first half of 2019, some banks exposed to long-term fixed-rate assets would face a profit shock because their funding costs will rise much more rapidly than their lending rates. Germanys savings and co-operative banks, Frances mutualist groups and Switzerlands cantonal and regional banks would be more exposed to a reversal of interest rates, in Moodys view.

In Japan, too, the negative interest rate policy will continue to put pressure on domestic banks profitability because negative interest rates will adversely affect banks net interest income, Japanese banks main revenue source at 68% of total revenues.

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Rapid Investments reports standalone nil net profit/loss in the March 2017 quarter
Jun 01,2017

Rapid Investments reported no net profit/loss in the quarter ended March 2017 and 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,no net profit/loss reported in the year ended March 2017 and 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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Neelkanth Rockminerals standalone net profit declines 53.85% in the March 2017 quarter
Jun 01,2017

Net profit of Neelkanth Rockminerals declined 53.85% to Rs 0.06 crore in the quarter ended March 2017 as against Rs 0.13 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 0.03 crore in the year ended March 2017 as against net profit of Rs 0.05 crore during the previous year ended March 2016. Sales declined 88.24% to Rs 0.08 crore in the year ended March 2017 as against Rs 0.68 crore during the previous year ended March 2016.

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Fortune International reports standalone net loss of Rs 0.08 crore in the March 2017 quarter
Jun 01,2017

Net loss of Fortune International reported to Rs 0.08 crore in the quarter ended March 2017. There were no net profit/loss reported 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 0.31 crore in the year ended March 2017 as against net loss of Rs 0.02 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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Cadila Healthcare consolidated net profit declines 32.15% in the March 2017 quarter
Jun 01,2017

Net profit of Cadila Healthcare declined 32.15% to Rs 385.50 crore in the quarter ended March 2017 as against Rs 568.20 crore during the previous quarter ended March 2016. Sales rose 6.48% to Rs 2417.50 crore in the quarter ended March 2017 as against Rs 2270.30 crore during the previous quarter ended March 2016.

For the full year,net profit declined 23.07% to Rs 1487.70 crore in the year ended March 2017 as against Rs 1933.90 crore during the previous year ended March 2016. Sales rose 1.63% to Rs 9219.80 crore in the year ended March 2017 as against Rs 9071.70 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales2417.502270.30 6 9219.809071.70 2 OPM %19.1824.23 -20.6525.69 - PBDT526.80573.70 -8 1987.202393.30 -17 PBT412.30497.30 -17 1612.202101.20 -23 NP385.50568.20 -32 1487.701933.90 -23

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Cranes Software International reports consolidated net loss of Rs 25.19 crore in the March 2017 quarter
Jun 01,2017

Net Loss of Cranes Software International reported to Rs 25.19 crore in the quarter ended March 2017 as against net loss of Rs 43.65 crore during the previous quarter ended March 2016. Sales declined 14.10% to Rs 82.41 crore in the quarter ended March 2017 as against Rs 95.94 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 86.10 crore in the year ended March 2017 as against net loss of Rs 112.06 crore during the previous year ended March 2016. Sales declined 16.13% to Rs 325.48 crore in the year ended March 2017 as against Rs 388.09 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales82.4195.94 -14 325.48388.09 -16 OPM %1.54-31.82 -1.32-7.94 - PBDT-28.50-36.00 21 -95.00-117.00 19 PBT-35.70-42.75 16 -125.42-149.10 16 NP-25.19-43.65 42 -86.10-112.06 23

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Rishi Laser reports consolidated net profit of Rs 1.52 crore in the March 2017 quarter
Jun 01,2017

Net profit of Rishi Laser reported to Rs 1.52 crore in the quarter ended March 2017 as against net loss of Rs 7.13 crore during the previous quarter ended March 2016. Sales declined 17.27% to Rs 26.20 crore in the quarter ended March 2017 as against Rs 31.67 crore during the previous quarter ended March 2016.

For the full year,net profit reported to Rs 0.92 crore in the year ended March 2017 as against net loss of Rs 8.14 crore during the previous year ended March 2016. Sales declined 7.91% to Rs 96.08 crore in the year ended March 2017 as against Rs 104.33 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales26.2031.67 -17 96.08104.33 -8 OPM %2.8613.32 -4.904.54 - PBDT0.393.42 -89 2.83-2.64 LP PBT-0.572.14 PL -1.18-8.77 87 NP1.52-7.13 LP 0.92-8.14 LP

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Viceroy Hotels reports consolidated net loss of Rs 9.75 crore in the March 2017 quarter
Jun 01,2017

Net loss of Viceroy Hotels reported to Rs 9.75 crore in the quarter ended March 2017 as against net profit of Rs 16.76 crore during the previous quarter ended March 2016. Sales declined 4.49% to Rs 31.09 crore in the quarter ended March 2017 as against Rs 32.55 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 14.58 crore in the year ended March 2017 as against net profit of Rs 10.19 crore during the previous year ended March 2016. Sales rose 3.46% to Rs 124.41 crore in the year ended March 2017 as against Rs 120.25 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales31.0932.55 -4 124.41120.25 3 OPM %28.1128.60 -23.0827.27 - PBDT1.141.79 -36 0.775.75 -87 PBT-1.50-1.85 19 -8.07-7.65 -5 NP-9.7516.76 PL -14.5810.19 PL

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Global Offshore Services reports consolidated net loss of Rs 55.35 crore in the March 2017 quarter
Jun 01,2017

Net Loss of Global Offshore Services reported to Rs 55.35 crore in the quarter ended March 2017 as against net loss of Rs 3.93 crore during the previous quarter ended March 2016. Sales declined 57.67% to Rs 36.21 crore in the quarter ended March 2017 as against Rs 85.54 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 125.34 crore in the year ended March 2017 as against net loss of Rs 11.26 crore during the previous year ended March 2016. Sales declined 57.37% to Rs 156.21 crore in the year ended March 2017 as against Rs 366.45 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales36.2185.54 -58 156.21366.45 -57 OPM %-109.1127.40 --28.2529.03 - PBDT-64.997.81 PL -106.4545.49 PL PBT-81.15-7.69 -955 -174.57-25.14 -594 NP-55.35-3.93 -1308 -125.34-11.26 -1013

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Goenka Diamond & Jewels reports standalone net profit of Rs 2.88 crore in the March 2017 quarter
Jun 01,2017

Net profit of Goenka Diamond & Jewels reported to Rs 2.88 crore in the quarter ended March 2017 as against net loss of Rs 37.29 crore during the previous quarter ended March 2016. Sales declined 97.86% to Rs 0.32 crore in the quarter ended March 2017 as against Rs 14.92 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 6.42 crore in the year ended March 2017 as against net loss of Rs 32.22 crore during the previous year ended March 2016. Sales declined 96.91% to Rs 2.83 crore in the year ended March 2017 as against Rs 91.45 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales0.3214.92 -98 2.8391.45 -97 OPM %-190.634.02 --90.112.62 - PBDT6.59-37.31 LP -2.21-31.01 93 PBT6.44-37.46 LP -2.80-31.63 91 NP2.88-37.29 LP -6.42-32.22 80

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