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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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Wires & Fabriks (S.A) standalone net profit declines 6.82% in the December 2016 quarter
Feb 10,2017

Net profit of Wires & Fabriks (S.A) declined 6.82% to Rs 0.41 crore in the quarter ended December 2016 as against Rs 0.44 crore during the previous quarter ended December 2015. Sales rose 3.15% to Rs 25.52 crore in the quarter ended December 2016 as against Rs 24.74 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales25.5224.74 3 OPM %17.2813.22 - PBDT3.412.33 46 PBT0.420.41 2 NP0.410.44 -7

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The Hi-Tech Gears standalone net profit declines 42.28% in the December 2016 quarter
Feb 10,2017

Net profit of The Hi-Tech Gears declined 42.28% to Rs 3.29 crore in the quarter ended December 2016 as against Rs 5.70 crore during the previous quarter ended December 2015. Sales declined 14.69% to Rs 91.72 crore in the quarter ended December 2016 as against Rs 107.52 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales91.72107.52 -15 OPM %10.9513.13 - PBDT10.7314.43 -26 PBT4.768.80 -46 NP3.295.70 -42

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Hindustan Fluoro Carbons reports standalone net loss of Rs 1.52 crore in the December 2016 quarter
Feb 10,2017

Net Loss of Hindustan Fluoro Carbons reported to Rs 1.52 crore in the quarter ended December 2016 as against net loss of Rs 1.83 crore during the previous quarter ended December 2015. Sales declined 9.78% to Rs 8.03 crore in the quarter ended December 2016 as against Rs 8.90 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales8.038.90 -10 OPM %-3.99-12.81 - PBDT-1.14-1.50 24 PBT-1.52-1.83 17 NP-1.52-1.83 17

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SRF standalone net profit rises 11.35% in the December 2016 quarter
Feb 10,2017

Net profit of SRF rose 11.35% to Rs 88.88 crore in the quarter ended December 2016 as against Rs 79.82 crore during the previous quarter ended December 2015. Sales rose 5.98% to Rs 891.50 crore in the quarter ended December 2016 as against Rs 841.19 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales891.50841.19 6 OPM %21.4522.52 - PBDT176.07173.66 1 PBT111.96111.85 0 NP88.8879.82 11

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Andhra Cements reports standalone net loss of Rs 24.55 crore in the December 2016 quarter
Feb 10,2017

Net Loss of Andhra Cements reported to Rs 24.55 crore in the quarter ended December 2016 as against net loss of Rs 22.95 crore during the previous quarter ended December 2015. Sales declined 4.56% to Rs 86.10 crore in the quarter ended December 2016 as against Rs 90.21 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales86.1090.21 -5 OPM %14.5111.48 - PBDT-14.61-13.50 -8 PBT-24.65-23.56 -5 NP-24.55-22.95 -7

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Board of Neuland Laboratories accepts resignation of CFO
Feb 10,2017

Neuland Laboratories announced that the Board of Directors of the Company at its meeting held on 10 February 2017 has approved the resignation of CFO with effect from 28 February 2017.

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Outcome of board meeting of Usha Martin
Feb 10,2017

Usha Martin announced that the Board of Directors of the Company at its meeting held on 10 February 2017 has appointed a consultant to evaluate the possibility of sale of the Wire and Wire Rope business of the Company.

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Outcome of board meeting of Usha Martin
Feb 10,2017

Usha Martin announced that the Board of Directors of the Company at its meeting held on 10 February 2017 has appointed a consultant to evaluate the possibility of sale of the Wire and Wire Rope business of the Company.

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Board of Maithan Alloys accepts resignation of director
Feb 10,2017

Maithan Alloys announced that the Board of Directors at its meeting held on 10 February 2017 has taken on record the resignation of Shrigopal Jhunjhunwala, Independent Director of the Company.

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Board of SRF approves change in directorate
Feb 10,2017

The Board of Directors of SRF at its meeting held on 10 February 2017 approved the resignation of K Ravichandra, Director (Safety & Environment) with effect from 31 March 2017. The Board appointed Pramod Gujarathi as Director (Safety & Environment) with effect from 1 April 2017.

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Board of Camlin Fine Sciences approves acquisition of shares of Chemolutions Chemicals
Feb 10,2017

Camlin Fine Sciences announced that the Board of Directors of the Company at its meeting held on 10 February 2017 has approved to subscribe to 62,67,003 equity shares on preferential basis of Chemolutions Chemicals amounting to Rs 9.40 crore.

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Shri Keshav Cements & Infra appoints company secretary and compliance officer
Feb 10,2017

Shri Keshav Cements & Infra announced Santosh Shadadal has been appointed as Company Secretary and Compliance Officer of the Company with effect from 19 January 2017 pursuant to Section 203 of the Companies Act, 2013 and Regulation 6(1) of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

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Shri Keshav Cements & Infra announces resignation of company secretary
Feb 10,2017

Shri Keshav Cements & Infra announced Rajesh Lakkar, a member of Institute of Company Secretaries of India, who was working as Company Secretary of the Company, has submitted his resignation letter with effect from 19 January 2017.

Board of Directors have taken on record his resignation on 10 February 2017 Board Meeting.

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HCL Technologies recognised as Top Employer in United Kingdom
Feb 10,2017

HCL Technologies has been named a Top Employer in the United Kingdom for the eleventh consecutive year in recognition of its best-in-class employee engagement and people practices. The Top Employers Institute assessed HCL Technologies employee practices across various criteria such as talent strategy, workforce planning, on-boarding, learning & development, performance management, leadership development, career & succession management, benefits and culture.

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Amber Fabrics reports standalone net profit of Rs 0.01 crore in the December 2016 quarter
Feb 10,2017

Net profit of Amber Fabrics remain constant at Rs 0.01 crore in the quarter ended December 2016 and also during the previous quarter ended December 2015. Sales declined 40.00% to Rs 0.06 crore in the quarter ended December 2016 as against Rs 0.10 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales0.060.10 -40 OPM %16.6710.00 - PBDT0.010.01 0 PBT0.010.01 0 NP0.010.01 0

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