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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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Airtel and Axiata announce completion of merger in Bangladesh
Nov 16,2016

Bharti Airtel announced the completion of the merger of its subsidiary Aitel Bangladesh with Robi Axiata, a unit of Axiata Group Berhad. Post the merger, Axiata will hold 68.7% stake in the combined entity, while Airtel will hold 25%. The remaining 6.3% stake will be held by NTT DoCoMo.

The combined entity will be the second largest mobile operator in Bangladesh with approx. 32.2 million customers and will operate under the Robi Axiata brand.

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Board of Engineers India recommends bonus issue
Nov 16,2016

Engineers India announced that the Board of Directors of the Company at its meeting held on 16 November 2016, inter alia, has recommended the issue of Bonus Shares in the proportion of 1 (one) new equity share of Rs. 5/- each for every 1 (one) existing equity shares of Rs. 5/- each fully paid up of the Company, subject to the approval of shareholders.

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Reliance Communications provides update on subsidiary
Nov 16,2016

Reliance Communications announced that the Company through its wholly owned subsidiary Reliance Globalcom Services Inc, has acquired a newly incorporated Company named Onyx NewCo LLC, a Delaware Registered Company, on 15 November 2016.

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Shriram City Union Finance allots equity shares
Nov 16,2016

Shriram City Union Finance announced that the Banking and Securities Management Committee as empowered by the board of directors in its meeting held on 16 November 2016 allotted 200 (neglible % of paid up equity share capital) Equity Shares of Rs 35 each (including Rs 25 as premium) to two employees of the Company namely Anil Bhupal Mangaj and Parikshit Sureshrao Thakare who exercised their options under ESOP Scheme 2006. As intimated by the said employees, the Company intimate the allotment of shares made under regulation 7(2) under Chapter III of the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations 2015 and other applicable regulations.

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Gayatri Projects concludes construction of first 660 MW unit of SembCorp Gayatri Power
Nov 16,2016

Gayatri Projects announced that its second thermal power plant, the 1320 megawatt SembCorp Gayatri Power, has completed construction of its first 660 megawatt unit. The second unit of the 660 megawatts is expected to be completed in the first quarter of 2017.

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Navkar Corporation to announces September quarter results
Nov 16,2016

Navkar Corporation announced that a meeting of the Board of Directors of the Company is scheduled to be held on 25 November 2016, inter alia, to consider and take on record, the Unaudited Financial Results of the Company for the quarter ended 30 September 2016.

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Navkar Corporation to announce September quarter results
Nov 16,2016

Navkar Corporation announced that a meeting of the Board of Directors of the Company is scheduled to be held on 25 November 2016, inter alia, to consider and take on record, the Unaudited Financial Results of the Company for the quarter ended 30 September 2016.

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Board of Asian Hotels (North) to consider Q2 and HY results
Nov 16,2016

Asian Hotels (North) announced that a meeting of the Board of Directors of the Company is scheduled to be held on 05 December 2016, inter alia, to consider the Un-audited Financial Results for the second quarter / half year ended 30 September 2016.

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Board of Nilachal Refractories to consider alltoment of preference shares on conversion of loan
Nov 16,2016

Nilachal Refractories announced that a Meeting of the Board of Directors of the Company for the financial year 2016-17 will be held on 24 November 2016. The following matters will be discussed at the meeting :

- To consider, issue and approve allotment of 0% redeemable Preference Shares pursuant to shareholders approval for conversion of Unsecured Loan to 0% Redeemable Preference Shares, granted at the Annual General Meeting of the Company held on 28 September 2016.

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B A G Films & Media reports consolidated net profit of Rs 0.27 crore in the September 2016 quarter
Nov 16,2016

Net profit of B A G Films & Media reported to Rs 0.27 crore in the quarter ended September 2016 as against net loss of Rs 3.66 crore during the previous quarter ended September 2015. Sales rose 47.45% to Rs 36.79 crore in the quarter ended September 2016 as against Rs 24.95 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales36.7924.95 47 OPM %22.4015.79 - PBDT4.710.37 1173 PBT1.44-3.24 LP NP0.27-3.66 LP

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Neha International consolidated net profit declines 55.64% in the September 2016 quarter
Nov 16,2016

Net profit of Neha International declined 55.64% to Rs 0.59 crore in the quarter ended September 2016 as against Rs 1.33 crore during the previous quarter ended September 2015. Sales rose 14.17% to Rs 67.84 crore in the quarter ended September 2016 as against Rs 59.42 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales67.8459.42 14 OPM %3.645.55 - PBDT1.272.09 -39 PBT0.931.46 -36 NP0.591.33 -56

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D & H India reports consolidated nil net profit/loss in the September 2016 quarter
Nov 16,2016

D & H India reported no net profit/loss in the quarter ended September 2016 as against net profit of Rs 0.05 crore during the previous quarter ended September 2015. Sales declined 5.23% to Rs 15.21 crore in the quarter ended September 2016 as against Rs 16.05 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales15.2116.05 -5 OPM %6.115.17 - PBDT0.510.56 -9 PBT0.040.09 -56 NP00.05 -100

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Poddar Housing & Development consolidated net profit declines 87.80% in the September 2016 quarter
Nov 16,2016

Net profit of Poddar Housing & Development declined 87.80% to Rs 0.71 crore in the quarter ended September 2016 as against Rs 5.82 crore during the previous quarter ended September 2015. Sales declined 62.39% to Rs 10.02 crore in the quarter ended September 2016 as against Rs 26.64 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales10.0226.64 -62 OPM %-7.3923.27 - PBDT0.978.33 -88 PBT0.828.13 -90 NP0.715.82 -88

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DIL consolidated net profit rises 9133.33% in the September 2016 quarter
Nov 16,2016

Net profit of DIL rose 9133.33% to Rs 19.39 crore in the quarter ended September 2016 as against Rs 0.21 crore during the previous quarter ended September 2015. Sales rose 11.74% to Rs 40.18 crore in the quarter ended September 2016 as against Rs 35.96 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales40.1835.96 12 OPM %4.2816.41 - PBDT-1.014.73 PL PBT-3.672.82 PL NP19.390.21 9133

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Kashiram Jain & Co reports standalone nil net profit/loss in the September 2016 quarter
Nov 16,2016

Kashiram Jain & Co reported no net profit/loss in the quarter ended September 2016 as against net profit of Rs 0.01 crore during the previous quarter ended September 2015. Sales declined 37.50% to Rs 0.20 crore in the quarter ended September 2016 as against Rs 0.32 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales0.200.32 -38 OPM %06.25 - PBDT00.02 -100 PBT00.02 -100 NP00.01 -100

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