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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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Ginni Filaments reports standalone net profit of Rs 5.05 crore in the September 2016 quarter
Nov 16,2016

Net profit of Ginni Filaments reported to Rs 5.05 crore in the quarter ended September 2016 as against net loss of Rs 1.50 crore during the previous quarter ended September 2015. Sales declined 3.25% to Rs 182.32 crore in the quarter ended September 2016 as against Rs 188.44 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales182.32188.44 -3 OPM %13.198.32 - PBDT16.165.68 185 PBT8.78-1.76 LP NP5.05-1.50 LP

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IL&FS Investment Managers standalone net profit rises 33.02% in the September 2016 quarter
Nov 16,2016

Net profit of IL&FS Investment Managers rose 33.02% to Rs 12.73 crore in the quarter ended September 2016 as against Rs 9.57 crore during the previous quarter ended September 2015. Sales declined 24.91% to Rs 14.71 crore in the quarter ended September 2016 as against Rs 19.59 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales14.7119.59 -25 OPM %96.7460.54 - PBDT16.5513.02 27 PBT16.4112.90 27 NP12.739.57 33

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SRM Energy reports standalone net loss of Rs 0.09 crore in the September 2016 quarter
Nov 16,2016

Net Loss of SRM Energy reported to Rs 0.09 crore in the quarter ended September 2016 as against net loss of Rs 0.15 crore during the previous quarter ended September 2015. There were no Sales reported in the quarter ended September 2016 and during the previous quarter ended September 2015.

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IST standalone net profit declines 25.52% in the September 2016 quarter
Nov 16,2016

Net profit of IST declined 25.52% to Rs 2.13 crore in the quarter ended September 2016 as against Rs 2.86 crore during the previous quarter ended September 2015. Sales rose 134.84% to Rs 7.28 crore in the quarter ended September 2016 as against Rs 3.10 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales7.283.10 135 OPM %21.299.35 - PBDT3.334.68 -29 PBT2.814.15 -32 NP2.132.86 -26

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Samtel (India) reports standalone net loss of Rs 0.03 crore in the September 2016 quarter
Nov 16,2016

Net Loss of Samtel (India) reported to Rs 0.03 crore in the quarter ended September 2016 as against net loss of Rs 0.03 crore during the previous quarter ended September 2015. There were no Sales reported in the quarter ended September 2016 and during the previous quarter ended September 2015.

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VMS Industries consolidated net profit rises 190.48% in the September 2016 quarter
Nov 16,2016

Net profit of VMS Industries rose 190.48% to Rs 0.61 crore in the quarter ended September 2016 as against Rs 0.21 crore during the previous quarter ended September 2015. Sales rose 31.41% to Rs 43.84 crore in the quarter ended September 2016 as against Rs 33.36 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales43.8433.36 31 OPM %3.652.07 - PBDT1.050.48 119 PBT0.960.30 220 NP0.610.21 190

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Brigade Enterprises consolidated net profit declines 25.08% in the September 2016 quarter
Nov 16,2016

Net profit of Brigade Enterprises declined 25.08% to Rs 28.67 crore in the quarter ended September 2016 as against Rs 38.27 crore during the previous quarter ended September 2015. Sales declined 5.36% to Rs 427.77 crore in the quarter ended September 2016 as against Rs 451.99 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales427.77451.99 -5 OPM %30.0528.47 - PBDT75.1288.63 -15 PBT46.2263.12 -27 NP28.6738.27 -25

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Commex Technology reports consolidated net loss of Rs 0.89 crore in the September 2016 quarter
Nov 16,2016

Net loss of Commex Technology reported to Rs 0.89 crore in the quarter ended September 2016 as against net profit of Rs 0.42 crore during the previous quarter ended September 2015. There were no Sales reported in the quarter ended September 2016 as against Rs 1.10 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales01.10 -100 OPM %011.82 - PBDT-0.770.63 PL PBT-0.890.42 PL NP-0.890.42 PL

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Bharat Financial Inclusion issues Commercial Paper aggregating Rs 25 cr
Nov 16,2016

Bharat Financial Inclusion announced that the Company issued Commercial Papers of an aggregate amount of Rs. 25 crore on 15 November 2016, which have been rated A1+ by a leading rating agency. Instruments with the aforesaid rating are considered to have a very strong degree of safety regarding timely payment of financial obligations. Such instruments carry the lowest credit risk.

The aggregate amount of Commercial Papers outstanding as on date is Rs. 475 crore.

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South Indian Bank gets RBI approval to open overseas branch
Nov 16,2016

South Indian Bank announced that RBI has given its approval vide letter dated 08 November 2016 to open a representative office of the Bank in Dubai, UAE.

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LafargeHolcim increases stake in Ambuja Cement and ACC
Nov 16,2016

ACC announced that LafargeHolcims subsidiary Holderind Investments has increased its shareholding in Ambuja Cement by 39,100,000 shares to 1253156361 shares (63.11% of total Ambuja shares) and in ACC, a subsidiary of Ambuja, by 7870000 shares to 8411000 shares (4.48% of total ACC shares).

The Purchase Price will be paid in INR. The impact of LarfargeHolcims net debt is CHF 325 million. This investment was not included in the Groups net debt objective of around CHF 13 billion at the end of 2016 which should be adjusted accordingly.

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Shares of Salem Erode Investments get listed
Nov 16,2016

The equity shares of Salem Erode Investments (Scrip Code: 540181) are listed effective 16 November 2016 and admitted to dealings on the Exchange in the list of XT Group Securities.

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GAIL (India) rises after strong Q2 outcome
Nov 16,2016

The result was announced after market hours yesterday, 15 November 2016.

Meanwhile, the S&P BSE Sensex was up 297.15 points or 1.13% at 26,601.78

On BSE, so far 13,000 shares were traded in the counter as against average daily volume of 2 lakh shares in the past one quarter. The stock hit a high of Rs 444.95 and a low of Rs 437.50 so far during the day. The stock had hit a 52-week high of Rs 455.70 on 10 November 2016. The stock had hit a 52-week low of Rs 277 on 16 November 2015.

The large-cap company has equity capital of Rs 1268.48 crore. Face value per share is Rs 10.

GAIL (India)s net profit was boosted by a turnaround in its petrochemical business and reduction in interest costs. The companys profit before tax (PBT) surged 151% to Rs 1375 crore in Q2 September 2016 over Q2 September 2015. The companys net profit rose 9% to Rs 924.65 crore in Q2 September 2016 over Q1 June 2016 (excluding the gains from stake sale in Mahanagar Gas), largely on account of better performance in natural gas transmission and petrochemical segment.

During the Q2 September 2016, GAIL (India)s petrochemical business has seen a turnaround with sales jumping 61% on year-on-year basis. This has resulted increase in revenue in this segment by 53% to Rs 1358 crore and the profit stood at Rs 104 crore in Q2 September 2016 as against loss of Rs 364 crore in Q2 September 2015. The increase in net profit during Q2 September 2016 on year on year basis, was also supported by increase in natural gas marketing & transmission volumes by 8% and 12% respectively and liquid hydrocarbon sales by 9%.

State-run GAIL (India) is Indias largest natural gas company with a market share of over 80% in natural gas transmission. Apart from natural gas transmission, distribution and processing, GAIL has diversified business interests in LPG transmission, petrochemicals, city gas projects and exploration and production activities. Government of India (GoI) holds 56.11% stake in GAIL (as per shareholding pattern as on 30 June 2016).

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Cabinet approves Status-cum-Progress Report and constitution of n++Special Committee for Inter-Linking of Riversn++
Nov 16,2016

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval to the Status-cum-Progress Report and constitution of n++Special Committee for Inter-Linking of Riversn++ in compliance of Supreme Court judgment dated 27 February 2012 in the matter of Writ Petition (Civil) 512 of 2002: Networking of Rivers along with Writ Petition No. 668 of 2002.

Approval of the Union Cabinet will help in monitoring of the precious Inter-linking of River Projects to be carried out under National Perspective Plan 1980 of Government of India. The Status-cum-Progress Report of Special Committee for Inter-linking of Rivers will be submitted bi-annually for information of Cabinet, which will facilitate faster and appropriate decisions in the interest of the country as expeditiously as possible.

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GAIL (India) may advance after strong Q2 results
Nov 16,2016

GAIL (India)s net profit surged 179.84% to Rs 924.65 crore on 15.54% decline in total income to Rs 12194.25 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 15 November 2016. Net profit was boosted by a turnaround in its petrochemical business and reduction in interest costs. The companys profit before tax (PBT) surged 151% to Rs 1375 crore in Q2 September 2016 over Q2 September 2015. The companys net profit rose 9% to Rs 924.65 crore in Q2 September 2016 over Q1 June 2016 (excluding the gains from stake sale in Mahanagar Gas), largely on account of better performance in natural gas transmission and petrochemical segment.

During the quarter, GAIL (India)s petrochemical business has seen a turnaround with sales jumping 61% on year-on-year basis. This has resulted increase in revenue in this segment by 53% to Rs 1358 crore and the profit stood at Rs 104 crore in Q2 September 2016 as against loss of Rs 364 crore in Q2 September 2015. The increase in net profit during Q2 September 2016 on year on year basis, was also supported by increase in natural gas marketing & transmission volumes by 8% and 12% respectively and liquid hydrocarbon sales by 9%.

Shares of public sector oil marketing companies (PSU OMCs) will be in focus after Indian Oil Corporation (IOCL) announced reduction in selling price of petrol by Rs 1.46 per litre (excluding state levies) and reduction in selling price of diesel by Rs 1.53 per litre (excluding state levies) with effect from midnight of 15/16 November 2016. The announcement was made after market hours yesterday, 15 November 2016. The current level of international product prices of petrol and diesel and INR-USD exchange rate warrant decrease in selling price of petrol and diesel, the impact of which is being passed on to the consumers with this price revision, IOCL said. The movement of prices in the international oil market and INR-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes, the company said.

ABB India announced after market hours yesterday, 15 November 2016, that ABB has won an order from Alstom to supply 1600 traction transformers for 800 new electric freight locomotives in India. The transformers will be manufactured locally in ABBs Vadodara facility in Gujarat, supporting the governments Make in India initiative to encourage manufacturing in the country. ABB will supply 25 kilovolt (kV)/50 hertz (Hz) underframe traction transformers for the 800 locomotives (2 units per locomotive). The compact transformers are designed for the most demanding conditions, including extreme temperatures and voltage fluctuations. They will support heavy freight loads over long distance haulage under rigorous conditions, including steep inclines.

HDFC announced after market hours yesterday, 15 November 2016, that it intends to raise Rs 2000 crore from issue of non-convertible debentures on private placement basis. The debentures will carry a coupon rate of 7.72% per annum and will have a tenor of 10 years.

Wipro and ASG Technologies, a global provider of information access, management and control solutions, announced an expanded partnership that integrates the offerings of Wipros Data Management Centre of Excellence (CoE) with ASGs Enterprise Data Intelligence solution to improve compliance for the global financial services companies. The announcement was made after market hours yesterday, 15 November 2016.

Wheels India said that the company has entered into a technology transfer agreement with FLUITECNIK, S.An++ Spain for the manufacture of hydraulic components for supply to wind mill manufacturers in India. The announcement was made after market hours yesterday, 15 November 2016.

Tata Global Beverages consolidated net profit surged 60.10% to Rs 139.62 crore on 2.69% fall in total income to Rs 1656.91 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 15 November 2016.

Shree Renuka Sugars reported net profit of Rs 2.50 crore in Q2 September 2016 as compared with net loss of Rs 151.20 crore in Q2 September 2015. Total income jumped 110.03% to Rs 2033.10 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 15 November 2016.

Vardhman Textiles net profit surged 231.35% to Rs 454.01 crore on 22.88% rise in total income to Rs 1815.90 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 15 November 2016.

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