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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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Kshitij Investments standalone net profit declines 80.00% in the March 2017 quarter
May 31,2017

Net profit of Kshitij Investments declined 80.00% to Rs 0.01 crore in the quarter ended March 2017 as against Rs 0.05 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,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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Duropack standalone net profit declines 13.33% in the March 2017 quarter
May 31,2017

Net profit of Duropack declined 13.33% to Rs 0.13 crore in the quarter ended March 2017 as against Rs 0.15 crore during the previous quarter ended March 2016. Sales rose 25.74% to Rs 3.81 crore in the quarter ended March 2017 as against Rs 3.03 crore during the previous quarter ended March 2016.

For the full year,net profit rose 5.77% to Rs 0.55 crore in the year ended March 2017 as against Rs 0.52 crore during the previous year ended March 2016. Sales rose 13.63% to Rs 12.09 crore in the year ended March 2017 as against Rs 10.64 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales3.813.03 26 12.0910.64 14 OPM %5.778.25 -7.538.08 - PBDT0.250.25 0 0.970.90 8 PBT0.220.18 22 0.740.64 16 NP0.130.15 -13 0.550.52 6

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Ashnoor Textile Mills reports standalone net profit of Rs 0.38 crore in the March 2017 quarter
May 31,2017

Net profit of Ashnoor Textile Mills reported to Rs 0.38 crore in the quarter ended March 2017 as against net loss of Rs 2.51 crore during the previous quarter ended March 2016. Sales declined 10.11% to Rs 20.10 crore in the quarter ended March 2017 as against Rs 22.36 crore during the previous quarter ended March 2016.

For the full year,net profit rose 144.54% to Rs 2.91 crore in the year ended March 2017 as against Rs 1.19 crore during the previous year ended March 2016. Sales declined 15.46% to Rs 73.87 crore in the year ended March 2017 as against Rs 87.38 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales20.1022.36 -10 73.8787.38 -15 OPM %19.95-6.22 -12.895.81 - PBDT3.47-1.16 LP 8.304.51 84 PBT2.53-2.11 LP 5.672.39 137 NP0.38-2.51 LP 2.911.19 145

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Uflex consolidated net profit rises 25.63% in the March 2017 quarter
May 31,2017

Net profit of Uflex rose 25.63% to Rs 98.19 crore in the quarter ended March 2017 as against Rs 78.16 crore during the previous quarter ended March 2016. Sales rose 10.86% to Rs 1660.99 crore in the quarter ended March 2017 as against Rs 1498.28 crore during the previous quarter ended March 2016.

For the full year,net profit rose 11.03% to Rs 348.46 crore in the year ended March 2017 as against Rs 313.84 crore during the previous year ended March 2016. Sales rose 2.27% to Rs 6362.86 crore in the year ended March 2017 as against Rs 6221.75 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales1660.991498.28 11 6362.866221.75 2 OPM %13.1712.71 -13.7412.93 - PBDT173.67162.31 7 707.98663.65 7 PBT89.1790.65 -2 390.44378.12 3 NP98.1978.16 26 348.46313.84 11

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Board of Apollo Hospitals Enterprise recommends final dividend
May 31,2017

Apollo Hospitals Enterprise announced that the Board of Directors of the Company at its meeting held on 30 May 2017, inter alia, have recommended the final dividend of Rs 6 per equity Share (i.e. 120%) , subject to the approval of the shareholders.

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Board of Berger Paints India recommends final dividend
May 31,2017

Berger Paints India announced that the Board of Directors of the Company at its meeting held on 30 May 2017, inter alia, have recommended the final dividend of Rs 1.75 per equity Share (i.e. 175%) , subject to the approval of the shareholders.

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Apollo Hospitals Enterprise to hold AGM
May 31,2017

Apollo Hospitals Enterprise announced that the Annual General Meeting (AGM) of the company will be held on 20 September 2017.

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Board of eClerx Services recommends final dividend
May 31,2017

eClerx Services announced that the Board of Directors of the Company at its meeting held on 30 May 2017, inter alia, have recommended the final dividend of Rs 1 per equity Share (i.e. 10%) , subject to the approval of the shareholders.

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Board of Bharat Petroleum Corporation recommends final dividend
May 31,2017

Bharat Petroleum Corporation announced that the Board of Directors of the Company at its meeting held on 29 May 2017, inter alia, have recommended the final dividend of Rs 1 per equity Share (i.e. 10%) , subject to the approval of the shareholders.

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Board of AVT Natural Products recommends final dividend
May 31,2017

AVT Natural Products announced that the Board of Directors of the Company at its meeting held on 29 May 2017, inter alia, have recommended the final dividend of Rs 0.2 per equity Share (i.e. 20%) , subject to the approval of the shareholders.

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AVT Natural Products to hold AGM
May 31,2017

AVT Natural Products announced that the Annual General Meeting (AGM) of the company will be held on 10 August 2017.

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Board of Renaissance Jewellery approves buyback of shares
May 31,2017

Renaissance Jewellery announced that the Board of Directors of the Company at its meeting held on 30 May 2017, inter alia, has approved the buyback of up to 2,00,000 (Two Lacs Only) Equity Shares of the Company (the n++Equity Sharesn++) of the face value of Rs. 10 each at a price of Rs. 250/- per Equity Share aggregating to Rs. 5,00,00,000/- (Rupees Five Crore only) through the Tender Offer route as prescribed under the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 1998, as amended (the Buyback Regulations) on a proportionate basis from the shareholders as on the record date (to be decided later), subject to the regulatory approvals and compliances required under applicable laws.

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Board of Gujarat Fluorochemicals recommends final dividend
May 31,2017

Gujarat Fluorochemicals announced that the Board of Directors of the Company at its meeting held on 29 May 2017, inter alia, have recommended the final dividend of Rs 3.5 per equity Share (i.e. 350%) , subject to the approval of the shareholders.

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Board of Bharat Heavy Electricals recommends final dividend
May 31,2017

Bharat Heavy Electricals announced that the Board of Directors of the Company at its meeting held on 29 May 2017, inter alia, have recommended the final dividend of Rs 0.78 per equity Share (i.e. 39%) , subject to the approval of the shareholders.

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Rich brew for Tata Global Beverages after declaring Q4 result
May 31,2017

The result was announced after market hours yesterday, 30 May 2017.

Meanwhile, the S&P BSE Sensex was up 32.70 points or 0.1% at 31,192.10. The S&P BSE Mid-Cap index was up 125.85 points or 0.87% at 14,615.61.

On the BSE, 2.80 lakh shares were traded on the counter so far as against the average daily volumes of 2.45 lakh shares in the past one quarter. The stock had hit a high of Rs 151 and a low of Rs 147.80 so far during the day. The stock had hit a 52-week high of Rs 161.60 on 2 May 2017 and a 52-week low of Rs 114.50 on 15 November 2016.

The stock had underperformed the market over the past one month till 30 May 2017, sliding 4.84% compared with 4.15% gains in the Sensex. The scrip had also underperformed the market in past one quarter, rising 1.36% as against Sensexs 8.41% gains. The scrip, however, outperformed the market in past one year, advancing 23.49% as against Sensexs 16.59% gains.

The mid-cap company has equity capital of Rs 63.11 crore. Face value per share is Rs 1.

Tata Global Beverages consolidated total income rose 4.09% to Rs 1691.08 crore in Q4 March 2017 over Q4 March 2016. The results for Q4 March 2017 is reported under Ind(AS).

Profit before tax and exceptional items rose 19% to Rs 140 crore in Q4 March 2017 over Q4 March 2016 despite higher advertising spends. Group consolidated net profit is significantly higher than the prior year due to lower exceptional expenditure in the current year. The year saw strong focus on business growth through innovative product launches, impactful marketing campaigns and category expansion, Tata Global Beverages said.

It may be recalled that group consolidated net profit of the Q4 March 2016, as reported under previous GAAP, had profit from sale of non-core equity investments of Rs 328 crore, which under Ind AS have been accounted under retained earnings as opposed to it being reflected under Profit and Loss statement in the erstwhile GAAP.

Ajoy Misra, Managing Director and CEO of Tata Global Beverages said that the company is targeting growth by leveraging key trends such as health and wellness, premiumization and convenience.

Tata Global Beverages said that the board of directors of the company at its meeting held yesterday, 30 May 2017, has recommended a dividend of Rs 2.35 per share for the year ended 31 March 2017.

Tata Global Beverages is a global beverage business; its brands have presence in over 40 countries. The company has significant interests in tea, coffee and water and is the worlds second largest tea company. The company focuses on natural beverages and has a stable of innovative regional and global beverage brands, including: Tata Tea, Tetley, Himalayan natural mineral water, Tata Water Plus and Tata Gluco+, Good Earth tea, Grand Coffee and Eight Oclock coffee.

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