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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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Ashram Online.com reports standalone net loss of Rs 0.05 crore in the September 2016 quarter
Oct 31,2016

Net Loss of Ashram Online.com reported to Rs 0.05 crore in the quarter ended September 2016 as against net loss of Rs 0.11 crore during the previous quarter ended September 2015. There were no Sales reported in the quarter ended September 2016 and during the previous quarter ended September 2015.

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Prima Agro standalone net profit declines 68.85% in the September 2016 quarter
Oct 31,2016

Net profit of Prima Agro declined 68.85% to Rs 0.19 crore in the quarter ended September 2016 as against Rs 0.61 crore during the previous quarter ended September 2015. There were no Sales reported in the quarter ended September 2016 and during the previous quarter ended September 2015.

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Sundaram Finance standalone net profit declines 17.09% in the September 2016 quarter
Oct 31,2016

Net profit of Sundaram Finance declined 17.09% to Rs 127.68 crore in the quarter ended September 2016 as against Rs 153.99 crore during the previous quarter ended September 2015. Sales rose 1.33% to Rs 591.85 crore in the quarter ended September 2016 as against Rs 584.06 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales591.85584.06 1 OPM %80.1078.41 - PBDT204.75240.75 -15 PBT184.35219.84 -16 NP127.68153.99 -17

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Ashram Online.Com changes directorate and management
Oct 31,2016

Ashram Online.Com at the board meeting held on 31 October 2016 has approved the resignation of E. Subbarayan and M. Thadhalingam as directors of the company and appointed M. Palanivel and V. Ramasubramanian as Additional Directors of the company with immediate effect.

The Board also has approved the resignation of D. Hememalini as Chief Financial Officer of the Company and the appointment of M. Thadhalingam as Chief Financial Officer of the Company.

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Tatia Global Vennture changes directorate
Oct 31,2016

Tatia Global Vennture at the board meeting held on 31st October 2016 has accepted the resignation of its Director D. Hemamalini and approved the appointment of S. Shobha as the Additional Director of the company with effect from 31st October 2016. The Board has also approved the resignation of Subbarayan Ekambaram the Chief Financial Officer of the Company with immediate effect.

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Tata Steel gets ratings revised
Oct 31,2016

Brickwork ratings on 27th October 2016 has revised Tata Steels ratings for NCDs from BWR AA+ to BWR AA and BWR AA- from BWR AA for the Perpetual Debt with a negative outlook.

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M K Exim (India) standalone net profit rises 300.00% in the September 2016 quarter
Oct 31,2016

Net profit of M K Exim (India) rose 300.00% to Rs 0.08 crore in the quarter ended September 2016 as against Rs 0.02 crore during the previous quarter ended September 2015. Sales rose 181.02% to Rs 3.85 crore in the quarter ended September 2016 as against Rs 1.37 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales3.851.37 181 OPM %5.978.03 - PBDT0.130.06 117 PBT0.080.02 300 NP0.080.02 300

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Tatia Global Venture reports standalone net loss of Rs 0.12 crore in the September 2016 quarter
Oct 31,2016

Net Loss of Tatia Global Venture reported to Rs 0.12 crore in the quarter ended September 2016 as against net loss of Rs 0.15 crore during the previous quarter ended September 2015. There were no Sales reported in the quarter ended September 2016 and during the previous quarter ended September 2015.

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Yes Bank changes Directorate
Oct 31,2016

Ms. Radha Singh on successful completion of her tenure as Non-Executive Part-time Chairperson of Yes Bank has ceased to be Director on the Board of the Bank at the close of business on 29 October 2016 as per RBIs guidelines. Mr. Ashok Chawla, based on RBIs approval has taken over the charge as Non-Executive Part-time Chairman of the Bank with effect from 30 October 2016.

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Valiant Organics to hold board meeting
Oct 31,2016

Valiant Organics will hold a meeting of the Board of Directors of the Company on 9 November 2016, to Consider, approve and take on record Audited Financial Results and Accounts for the half year ended on 30 September 2016.

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Time Technoplast to hold board meeting
Oct 31,2016

Time Technoplast will hold a meeting of the Board of Directors of the Company on 12 November 2016, to consider and take on record the Un-audited Financial Results for the quarter ended 30 September 2016.

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Transformers & Rectifiers India to hold board meeting
Oct 31,2016

Transformers & Rectifiers India will hold a meeting of the Board of Directors of the Company on 10 November 2016, to consider and approve the Unaudited Standalone Financial Results of the Company for the quarter ended on 30 September 2016.

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Prakash Constrowell to hold board meeting
Oct 31,2016

Prakash Constrowell will hold a meeting of the Board of Directors of the Company on 10 November 2016, to Consider and Approve unaudited standalone financial results for the quarter ended 30 September 2016 as required under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

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SMS Pharmaceuticals to hold board meeting
Oct 31,2016

SMS Pharmaceuticals will hold a meeting of the Board of Directors of the Company on 5 November 2016, to consider and approve the Standalone Unaudited Financial Results for the quarter ended on 30 September 2016 along-with Limited Review Report thereon.

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Capital First to hold board meeting
Oct 31,2016

Capital First will hold a meeting of the Board of Directors of the Company on 9 November 2016, to consider and approve the Audited Financial Results for the quarter and half year ended 30 September 2016 and to transact other business, if any.

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