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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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Outcome of board meeting of Network 18 Media & Investments
Apr 19,2017

Network 18 Media & Investments announced that the Board of Directors of the company at its meeting held on 19 April 2017 has given in-principle approval to sell/ transfer/ otherwise dispose off or transfer BURRP to any other entity including a related party/ getting a strategic investor.

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Board of Galore Prints Industries approves change in registered office
Apr 19,2017

Galore Prints Industries announced that the Board of Directors of the Company at its meeting held on 18 April 2017 has decided to change the registered office to H-54, Naveen Shahdara, Delhi- 110032 with effect from 18 April 2017.

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Board of NTPC approves upsizing of MTN programme upto USD 6 billion
Apr 19,2017

The Board of Directors of NTPC in its Meeting held on 19 April 2017, has accorded approval for updating and upsizing the USD 4 billion MTN programme upto USD 6 billion for raising debt from international markets to part finance the capital expenditure on new / ongoing projects, coal mining projects, renovation and modernization of power stations and for other permissible end uses subject to compliance of the provisions of the Companies Act, 2013, the ECB guidelines of the RBI.

The Board of Directors, in the aforesaid Meeting, has approved the proposal to issue Notes up to Rs 5000 crore (Rupee denominated bonds) and/or upto USD 750 million equivalent (foreign currency bonds other than INR denominated) in the international markets either under the MTN programme or on standalone basis, in one or more tranches on the terms and conditions as may be agreed with the prospective investor(s) to finance the capital expenditure of new / ongoing projects, coal mining projects, renovation and modernization of power stations and/or for such other purposes as permissible under the ECB guidelines of the RBI.

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Zenith Exports gets ratings affirmation for short term bank limits
Apr 19,2017

Zenith Exports announced that ICRA has retained existing rating of ICRA A4 for short term bank limits.

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JMT Auto director resigns
Apr 19,2017

JMT Auto announced the resignation of Ashok Mittal as Independent Director from the Board with immediate effect.

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Tamil Nadu Newsprint & Papers director resigns
Apr 19,2017

Tamil Nadu Newsprint & Papers announced that N Kumaravelu, Independent Director has resigned from the Company with immediate effect.

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Ballarpur Industries gets downgrade in ratings for NCDs
Apr 19,2017

Ballarpur Industries has received from India Rating and Research a downgrade in rating for non convertible debentures to IND D owning to stressed liquidity position of the Company.

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Reliance Industries successfully completes its Ethane Project in record time
Apr 19,2017

Reliance Industries announced the successful and flawless completion of its Ethane project including commissioning of its ethane receipt and handling facilities and ethane cracking at its Dahej manufacturing facility in Gujarat in a record time of less than 3 years.

Reliance was the first company globally to conceptualize large scale imports of ethane from North America as feedstock for its cracker portfolio in India. The project involved seamless integration of several elements across a complex infrastructure value chain. This includes securing ethane refrigeration capacity in the US Gulf coast, delivery of dedicated Very Large Ethane Carriers (VLECs) to carry ethane from the US Gulf Coast to the West Coast of India, construction of ethane receipt and handling facilities, pipelines and upgrade of crackers (to receive ethane) at Dahej, Hazira and Nagothane Manufacturing facilities.

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Dwekam Industries fixes record date for sub-division of equity shares
Apr 19,2017

Dwekam Industries has fixed 02 May 2017 as a Record Date for the purpose of Sub Division of equity shares of the Company from Rs. 10/- each into Rs. 1/- each.

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India Cements gets NCLT approval for scheme of amalgamation and arrangement
Apr 19,2017

India Cements announced that the Honble National Company Law Tribuna, Chennai Bench vide its order dated 13 April 2017, has approved the scheme of amalgamation and arrangement between Trinetra Cement (first transferor company) and Trishul Concrete Products (second transferor company) with The India Cements (transferee company) and their respectively shareholders.

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TV18 Broadcast consolidated net profit declines 89.87% in the March 2017 quarter
Apr 19,2017

Net profit of TV18 Broadcast declined 89.87% to Rs 8.39 crore in the quarter ended March 2017 as against Rs 82.86 crore during the previous quarter ended March 2016. Sales declined 7.52% to Rs 278.92 crore in the quarter ended March 2017 as against Rs 301.59 crore during the previous quarter ended March 2016.

For the full year,net profit declined 90.19% to Rs 19.07 crore in the year ended March 2017 as against Rs 194.39 crore during the previous year ended March 2016. Sales rose 5.89% to Rs 979.41 crore in the year ended March 2017 as against Rs 924.91 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales278.92301.59 -8 979.41924.91 6 OPM %9.4830.36 -3.1914.15 - PBDT39.9587.60 -54 52.19146.57 -64 PBT22.1678.50 -72 -4.19111.70 PL NP8.3982.86 -90 19.07194.39 -90

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TV18 Broadcast standalone net profit declines 5.34% in the March 2017 quarter
Apr 19,2017

Net profit of TV18 Broadcast declined 5.34% to Rs 52.45 crore in the quarter ended March 2017 as against Rs 55.41 crore during the previous quarter ended March 2016. Sales rose 3.46% to Rs 202.99 crore in the quarter ended March 2017 as against Rs 196.20 crore during the previous quarter ended March 2016.

For the full year,net profit declined 18.83% to Rs 101.46 crore in the year ended March 2017 as against Rs 125.00 crore during the previous year ended March 2016. Sales rose 6.49% to Rs 666.81 crore in the year ended March 2017 as against Rs 626.18 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales202.99196.20 3 666.81626.18 6 OPM %30.8330.01 -18.2719.67 - PBDT74.2857.88 28 140.40135.05 4 PBT67.9755.41 23 122.57125.00 -2 NP52.4555.41 -5 101.46125.00 -19

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Goa Carbon standalone net profit rises 1139.02% in the March 2017 quarter
Apr 19,2017

Net profit of Goa Carbon rose 1139.02% to Rs 5.08 crore in the quarter ended March 2017 as against Rs 0.41 crore during the previous quarter ended March 2016. Sales rose 13.89% to Rs 76.32 crore in the quarter ended March 2017 as against Rs 67.01 crore during the previous quarter ended March 2016.

For the full year,net profit reported to Rs 9.42 crore in the year ended March 2017 as against net loss of Rs 3.08 crore during the previous year ended March 2016. Sales declined 7.78% to Rs 290.93 crore in the year ended March 2017 as against Rs 315.46 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales76.3267.01 14 290.93315.46 -8 OPM %4.302.72 -5.222.21 - PBDT9.451.23 668 17.53-2.63 LP PBT8.980.76 1082 15.64-4.50 LP NP5.080.41 1139 9.42-3.08 LP

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Omax Autos reports standalone net loss of Rs 0.59 crore in the March 2017 quarter
Apr 19,2017

Net loss of Omax Autos reported to Rs 0.59 crore in the quarter ended March 2017 as against net profit of Rs 4.61 crore during the previous quarter ended March 2016. Sales declined 0.85% to Rs 258.61 crore in the quarter ended March 2017 as against Rs 260.84 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 1.63 crore in the year ended March 2017 as against net profit of Rs 7.91 crore during the previous year ended March 2016. Sales rose 1.49% to Rs 1042.22 crore in the year ended March 2017 as against Rs 1026.87 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales258.61260.84 -1 1042.221026.87 1 OPM %3.315.21 -3.385.14 - PBDT6.2111.91 -48 26.6543.97 -39 PBT-0.145.33 PL 0.1515.56 -99 NP-0.594.61 PL -1.637.91 PL

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Network 18 Media & Investments reports consolidated net loss of Rs 33.32 crore in the March 2017 quarter
Apr 19,2017

Net Loss of Network 18 Media & Investments reported to Rs 33.32 crore in the quarter ended March 2017 as against net loss of Rs 24.99 crore during the previous quarter ended March 2016. Sales declined 18.08% to Rs 387.67 crore in the quarter ended March 2017 as against Rs 473.24 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 233.44 crore in the year ended March 2017 as against net profit of Rs 25.42 crore during the previous year ended March 2016. Sales declined 2.37% to Rs 1491.04 crore in the year ended March 2017 as against Rs 1527.29 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales387.67473.24 -18 1491.041527.29 -2 OPM %5.3417.48 --9.253.40 - PBDT46.8345.54 3 -163.4083.77 PL PBT22.8430.76 -26 -243.3026.05 PL NP-33.32-24.99 -33 -233.4425.42 PL

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