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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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Rupee sustains gains
Jan 30,2017

Rupee on Monday sustained its gains to close higher at 67.9247/9447 per dollar, versus its previous close of 68.0329/0480 per dollar last Friday.

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Japan Stocks down on stronger yen, Trump immigration curbs
Jan 30,2017

The Japan share market settled down on Monday, 30 January 2017, due to yen ascent against greenback while sentiment was also hit by Donald Trumps weekend executive order temporarily freezing refugee and migration from some countries and travel ban on people from several predominantly Muslim countries. Investors were adjusting their positions following the recent gain amid concerned about uncertain elements such as Trumps policies. The 225-issue Nikkei average declined 98.55 points, or 0.51%, to end at 19,368.85. The Topix index of all first-section issues dropped 5.48 points, or 0.35%, at 1,543.77.

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Australia Equities slide 0.9%
Jan 30,2017

Australian equity market ended steep lower on Monday, 30 January 2017, as investors flew away from riskier equities on following a lacklustre performance on Wall Street on last Friday and US President Donald Trumps weekend executive order temporarily freezing refugee and migration from some countries and travel ban on people from several predominantly Muslim countries. Mr Trump sparked a backlash in the United States and abroad after he put a 120-day hold on allowing refugees into the country, an indefinite ban on refugees from Syria and a 90-day bar on citizens from Iran, Iraq, Libya, Somalia, Sudan, Syria and Yemen. At the closing bell, the benchmark S&P/ASX 200 index slid 52.50 points, or 0.92%, to 5661.50, while the broader All Ordinaries index sank 51.30 points, or 0.89%, to close at 5714.30.

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Prithvi Softech announces resignation of company secretary and compliance officer
Jan 30,2017

Prithvi Softech announced that that Megha Somani, Company Secretary and Compliance officer of the company has resigned from the post with effect from the closing hours of 31 January 2017.

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Shri Dinesh Mills announces resignation of CFO
Jan 30,2017

Shri Dinesh Mills announced the resignation of M B Thummar as Chief Financial Officer (CFO) of the Company with effect from 31 January 2017.

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NILE gets upgradation in credit facilities
Jan 30,2017

NILE announced that India Ratings and Research has upgraded the Companys long term issuer ratings to IND A- from IND BBB+. The outlook is Stable.

Fund based working capital facility (Rs 40 crore) - IND A-; Stable (upgraded from IND BBB+; Stable)

Non-fund based working capital facility (Rs 15 crore) - IND A2+ (upgraded from IND A2).

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Reduce customs duty on chilled & frozen sea food and poultry to 10% & 20% respectively: ASSOCHAM plea
Jan 30,2017

Apex industry body ASSOCHAM has urged the Union Government to reduce customs duty on chilled and frozen sea food from present level of 30 per cent to 10 per cent to bring down food inflation and satiate high demand for sea food in India.

n++Local fisheries will not get affected by imports because sea food availability in India is much lower than its demand,n++ highlighted ASSOCHAM in its pre-budget memorandum (indirect taxes) submitted to the Centre.

n++High import duty makes it unviable to bring-in a variety of sea food products available globally which shall reduce food inflation tremendously and provide much-needed proteins to Indians at cheap cost,n++ said Mr D.S. Rawat, secretary general of ASSOCHAM.

The chamber has also suggested the Union Government to reduce customs duty on chilled and frozen poultry meat (chicken) to 20 per cent for whole chicken and that in parts as it is unlikely to destabilise the Rs 40,000 crore Indian poultry industry because majority of Indian market prefers live poultry over frozen food.

n++Though chicken is a basic non-vegetarian food, but import duty on chicken products is as high as 100 per cent on its parts as such India is not able to import chicken,n++ highlighted the ASSOCHAM pre-budget recommendation.

Considering that prices of chicken produced in India are mostly much higher than that in rest of the world as its cost is decided upon its production, ASSOCHAM has appealed that it should be based on international prices.

n++This shall have huge impact on food inflation,n++ it said.

Factors like growing affordability, rising health consciousness, increasing consumer awareness and with more women getting into jobs are together likely to boost demand for frozen chicken and sea food products.

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Board of Divyashakti Granites approves change in company secretary and compliance officer
Jan 30,2017

Divyashakti Granites announced that Board of Directors of the Company at their meeting held on 30 January 2017, have approved the resignation of Deepa Dutta from the post of Company Secretary and Compliance Officer and appointment of Priyanka Baldewa as Company Secretary and Compliance Officer of the Company.

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Mahindra Lifespace Developers consolidated net profit rises 48.05% in the December 2016 quarter
Jan 30,2017

Net profit of Mahindra Lifespace Developers rose 48.05% to Rs 35.22 crore in the quarter ended December 2016 as against Rs 23.79 crore during the previous quarter ended December 2015. Sales rose 9.84% to Rs 213.08 crore in the quarter ended December 2016 as against Rs 193.99 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales213.08193.99 10 OPM %6.927.92 - PBDT46.3333.46 38 PBT45.1832.39 39 NP35.2223.79 48

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Coral India Finance & Housing standalone net profit rises 59.69% in the December 2016 quarter
Jan 30,2017

Net profit of Coral India Finance & Housing rose 59.69% to Rs 3.13 crore in the quarter ended December 2016 as against Rs 1.96 crore during the previous quarter ended December 2015. Sales rose 31.23% to Rs 4.37 crore in the quarter ended December 2016 as against Rs 3.33 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales4.373.33 31 OPM %86.0475.08 - PBDT3.762.50 50 PBT3.682.46 50 NP3.131.96 60

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Shree Securities reports standalone net loss of Rs 0.36 crore in the December 2016 quarter
Jan 30,2017

Net loss of Shree Securities reported to Rs 0.36 crore in the quarter ended December 2016 as against net profit of Rs 0.01 crore during the previous quarter ended December 2015. Sales rose 2350.00% to Rs 1.96 crore in the quarter ended December 2016 as against Rs 0.08 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales1.960.08 2350 OPM %-18.3712.50 - PBDT-0.360.01 PL PBT-0.360.01 PL NP-0.360.01 PL

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Tivoli Construction reports standalone nil net profit/loss in the December 2016 quarter
Jan 30,2017

Tivoli Construction reported no net profit/loss in the quarter ended December 2016 and during the previous quarter ended December 2015. There were no Sales reported in the quarter ended December 2016 and during the previous quarter ended December 2015.

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Emami standalone net profit rises 6.80% in the December 2016 quarter
Jan 30,2017

Net profit of Emami rose 6.80% to Rs 140.07 crore in the quarter ended December 2016 as against Rs 131.15 crore during the previous quarter ended December 2015. Sales rose 1.20% to Rs 681.55 crore in the quarter ended December 2016 as against Rs 673.50 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales681.55673.50 1 OPM %38.0836.04 - PBDT254.95232.30 10 PBT174.18161.56 8 NP140.07131.15 7

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Sanghi Industries standalone net profit declines 80.46% in the December 2016 quarter
Jan 30,2017

Net profit of Sanghi Industries declined 80.46% to Rs 4.61 crore in the quarter ended December 2016 as against Rs 23.59 crore during the previous quarter ended December 2015. Sales rose 14.54% to Rs 272.05 crore in the quarter ended December 2016 as against Rs 237.52 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales272.05237.52 15 OPM %15.5921.30 - PBDT24.6440.12 -39 PBT6.2421.95 -72 NP4.6123.59 -80

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Nava Bharat Ventures standalone net profit rises 22.23% in the December 2016 quarter
Jan 30,2017

Net profit of Nava Bharat Ventures rose 22.23% to Rs 29.09 crore in the quarter ended December 2016 as against Rs 23.80 crore during the previous quarter ended December 2015. Sales rose 1.87% to Rs 255.67 crore in the quarter ended December 2016 as against Rs 250.98 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales255.67250.98 2 OPM %12.8811.69 - PBDT48.1939.24 23 PBT39.2930.67 28 NP29.0923.80 22

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