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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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SQS India BFSI standalone net profit declines 48.65% in the December 2016 quarter
Feb 03,2017

Net profit of SQS India BFSI declined 48.65% to Rs 3.80 crore in the quarter ended December 2016 as against Rs 7.40 crore during the previous quarter ended December 2015. Sales declined 9.24% to Rs 60.90 crore in the quarter ended December 2016 as against Rs 67.10 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales60.9067.10 -9 OPM %12.1518.78 - PBDT7.5012.70 -41 PBT6.0011.60 -48 NP3.807.40 -49

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Next Mediaworks reports standalone net loss of Rs 0.66 crore in the December 2016 quarter
Feb 03,2017

Net Loss of Next Mediaworks reported to Rs 0.66 crore in the quarter ended December 2016 as against net loss of Rs 0.78 crore during the previous quarter ended December 2015. Sales remain constant at Rs 0.19 crore in the quarter ended December 2016 and also during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales0.190.19 0 OPM %-142.11-242.11 - PBDT-0.66-0.78 15 PBT-0.66-0.78 15 NP-0.66-0.78 15

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Excel Crop Care standalone net profit rises 48.07% in the December 2016 quarter
Feb 03,2017

Net profit of Excel Crop Care rose 48.07% to Rs 2.68 crore in the quarter ended December 2016 as against Rs 1.81 crore during the previous quarter ended December 2015. Sales rose 14.50% to Rs 173.42 crore in the quarter ended December 2016 as against Rs 151.46 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales173.42151.46 14 OPM %4.024.23 - PBDT7.976.57 21 PBT3.852.25 71 NP2.681.81 48

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Timex Group India reports standalone net loss of Rs 7.24 crore in the December 2016 quarter
Feb 03,2017

Net loss of Timex Group India reported to Rs 7.24 crore in the quarter ended December 2016 as against net profit of Rs 0.14 crore during the previous quarter ended December 2015. Sales rose 5.77% to Rs 53.86 crore in the quarter ended December 2016 as against Rs 50.92 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales53.8650.92 6 OPM %-11.253.55 - PBDT-6.741.08 PL PBT-7.240.14 PL NP-7.240.14 PL

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HSIL standalone net profit declines 33.59% in the December 2016 quarter
Feb 03,2017

Net profit of HSIL declined 33.59% to Rs 26.51 crore in the quarter ended December 2016 as against Rs 39.92 crore during the previous quarter ended December 2015. Sales rose 0.58% to Rs 476.02 crore in the quarter ended December 2016 as against Rs 473.26 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales476.02473.26 1 OPM %15.1820.17 - PBDT67.0489.63 -25 PBT39.8562.16 -36 NP26.5139.92 -34

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Next Mediaworks reports consolidated net loss of Rs 0.95 crore in the December 2016 quarter
Feb 03,2017

Net loss of Next Mediaworks reported to Rs 0.95 crore in the quarter ended December 2016 as against net profit of Rs 1.58 crore during the previous quarter ended December 2015. Sales declined 9.92% to Rs 20.25 crore in the quarter ended December 2016 as against Rs 22.48 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales20.2522.48 -10 OPM %19.2633.50 - PBDT1.635.49 -70 PBT-1.222.32 PL NP-0.951.58 PL

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KEI Industries gallops after posting robust Q3 results
Feb 03,2017

The result was announced after market hours yesterday, 2 February 2017.

Meanwhile, the BSE Sensex was down 62.83 points, or 0.22%, to 28,163.78.

A spurt in volumes was witnessed on the counter. On the BSE, so far 5.85 lakh shares were traded in the counter, compared with average daily volumes of 1.19 lakh shares in the past one quarter. The stock had hit a high of Rs 168.50, which is also a 52-week high for the stock. The stock hit a low of Rs 151.40 so far during the day. The stock had hit a 52-week low of Rs 86 on 29 February 2016.

The stock had outperformed the market over the past one month till 2 February 2017, rising 15.02% compared with 6.13% gains in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 20.33% as against Sensexs 2.54% gains.

The small-cap company has equity capital of Rs 15.56 crore. Face value per share is Rs 2.

KEI Industries said that pending order as on date is around Rs 3103 crore. Net profit margin has improved to 3.8% in Q3 December 2016 from 2.68% in Q3 December 2015.

KEI Industries is a cable manufacturing company. It offers high and low tension cables, control and instrumentation cables, house wires and stainless steel wires, and high-technology specialty cables.

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Sun TV soars as special CBI court gives clean chit to Marans in Aircel-Maxis case
Feb 03,2017

Meanwhile, the S&P BSE Sensex was down 16.55 points or 0.06% at 28,210.06.

On the BSE, 16.38 lakh shares were traded on the counter so far as against the average daily volumes of 1.63 lakh shares in the past one quarter. The stock had hit a high of Rs 699 so far during the day, which is a record high. The stock hit a low of Rs 607 so far during the day.

The stock had hit a 52-week low of Rs 312 on 29 February 2016. The stock had outperformed the market over the past one month till 2 February 2017, advancing 10.01% compared with the Sensexs 6.13% rise. The scrip had also outperformed the market over the past one quarter, gaining 3.32% as against the Sensexs 2.54% rise.

The large-cap company has equity capital of Rs 197.04 crore. Face value per share is Rs 5.

As per reports, a special Central Bureau of Investigation (CBI) court dropped all charges brought by both the CBI and the Enforcement Directorate (ED) against the Maran brothers, Dayanidhi and Kalanithi, in the Aircel-Maxis case.

The Aircel-Maxis case is related to allegations that as telecom minister Dayanidhi Maran used his influence to coerce Aircel owner, C. Sivasankaran, into parting with his stake in the company to T. Ananda Krishnan-led Maxis Communications Berhad.

Promoter Kalanithi Maran held 75% stake in Sun TV Network as per the shareholding pattern as on 31 December 2016.

Meanwhile, media reports suggested that a slew of brokerages upgraded the Sun TV Network stock and increased its target price in the wake of the special CBI courts ruling.

Sun TV Networks net profit rose 21.7% to Rs 270.35 crore on 10.2% growth in net sales to Rs 625.49 crore in Q2 September 2016 over Q2 September 2015. The company is scheduled to announce Q3 December 2016 earnings on 10 February 2017.

Sun TV Network is one of the largest television broadcasters in India, operating satellite television channels across four languages of Tamil, Telugu, Kannada and Malayalam. It also operates FM radio stations across India.

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Tata Elxsi wins iF Design Awards for design excellence
Feb 03,2017

Tata Elxsi has won this years iF Design Awards, a world-renowned prize for design excellence. Tata Elxsi won this award for its exceptional work delivered for Kochi Metro Rail, in the Service Design discipline.

Tata Elxsi designed the comprehensive passenger experience design for Kochi Metro to help them develop Indias first seamless integrated transport system.

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Board of AstraZeneca Pharma India to appoints director and company secretary
Feb 03,2017

AstraZeneca Pharma India announced that the Board of Directors of the Company at its meeting held on 02 February 2017 has approved the following -

Kimsuka Narsimha has been appointed as Additional Director with immediate effect.

Pratap Rudra has been appointed as Company Secretary with immediate effect.

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Volumes jump at Orbit Exports counter
Feb 03,2017

Orbit Exports clocked volume of 21.83 lakh shares by 13:35 IST on BSE, a 1498.06-times surge over two-week average daily volume of 1,000 shares. The stock jumped 12.55% at Rs 336.70.

Shriram City Union Finance notched up volume of 3.02 lakh shares, a 260.64-fold surge over two-week average daily volume of 1,000 shares. The stock was up 1.67% at Rs 1,932.

GE Power India saw volume of 1.34 lakh shares, a 32.82-fold surge over two-week average daily volume of 4,000 shares. The stock rose 4.16% at Rs 644.

KEI Industries clocked volume of 6.68 lakh shares, a 19.85-fold surge over two-week average daily volume of 34,000 shares. The stock advanced 16.61% at Rs 167.40.

Sun TV Network saw volume of 15.85 lakh shares, a 18.42-fold rise over two-week average daily volume of 86,000 shares. The stock jumped 22.81% at Rs 677.70.

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Board of SREI Infrastructure Finance approve fund raising plan for FY 2017-18
Feb 03,2017

SREI Infrastructure Finance announced that the Board of Directors of the Company at its meeting held on 03 February 2017 has approved the following -

Public issue of secured redeemable NCDs aggregating upto Rs 2500 crore in one or more tranches during FY 2017-18.

Issue of secured and/or unsecured redeemable NCDs (including bonds)aggregating upto Rs 10000 crore outstanding during FY 2017-18 on private placement basis.

Issue of commercial paper aggregating up to Rs 5000 crore during FY 2017-18 on private placement basis.

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Board of Manpasand Beverages approves change in registered office
Feb 03,2017

Manpasand Beverages announced that the Board of Directors of the Company at its meeting held on 03 February 2017 has approved shifting of registered office of the Company within local limit of Village Savli, Vadodara.

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JK Paper gets ratings assigned for NCD programme and bank facilities
Feb 03,2017

JK Paper has received credit ratings for its NCD programme and additional bank facilities from India Ratings and Research as follows -

NCD programme Rs 200 crore - Provisional IND BBB+; Positive outlook
Fund based working capital limits Rs 35 crore - IND BBB+; Positive outlook; IND A2+

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Aadhaar Ventures India announces change in directorate
Feb 03,2017

Aadhaar Ventures India announced that the Company has appointed Veenu Devidas Chougule as Additional director on the Board of Directors of the Company w.e.f. 01 February 2017.

Further, the Company has informed that, Company has accepted the resignation of Naresh Madhukar Tambe and his cessation will be effective from 01 February 2017.

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