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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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Eastern Treads wins two orders for supplying tyre retreading material
Jan 16,2017

Eastern Treads has won the tender for supplying the Tyre retreading materials to Karnataka State Road Transport Corporation & Rajasthan State Road Transport Corporation.

The Company obtained order to supply 200 MT and 90 MT of Tyre retreading materials respectively from Rajasthan State Road Transport Corporation and Karnataka State Road Transport Corporation to meet their 6 months tyre retreading requirements.

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Khemani Distributors & Marketing fixes record date for stock split
Jan 16,2017

Khemani Distributors & Marketing announced that the Company has fixed 03 February 2017 as the Record Date for the purpose of Sub-division of 1 (one) Equity Share of face value of Rs. 10/- (Rupees Ten only) each into 2 (Two) Equity Shares of Rs. 5/- (Rupees Five only) each.

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Outcome of board meeting of Dewan Housing Finance Corporation
Jan 16,2017

Dewan Housing Finance Corporation announced that the Board of Directors of the Company at its meeting held on 16 January 2017 has approved the issuance of non-convertible secured/ unsecured debentures up to an amount of Rs 5000 crore and non-convertible subordinated debentures upto an amount of Rs 1000 crore on private placement basis for the quarter.

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Board of Netlink Solutions (India) to consider Q3 results
Jan 16,2017

Netlink Solutions (India) announced that a meeting of the Board of Directors of the Company is scheduled to be held on 30 January 2017, inter alia, to consider and approve, the following:

1. Unaudited Financial Results for the Third Quarter ended 31 December 2016.

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Hindustan Copper Board approves proposal for increase in borrowings to Rs 550 cr
Jan 16,2017

Hindustan Copper announced that the Board of Directors of the Company at its meeting held on 16 January 2017 has considered and approved proposal for increase in borrowing from the consortium banks / other banks by way of overdraft or cash credit, working capital demand loan, bill discounting, other working capital arrangements from existing Rs 250 crore to Rs 550 crore.

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Ministry of Earth Sciences Commissions Higher Resolution Weather Prediction Model
Jan 16,2017

The Ministry of Earth Sciences (MoES) has commissioned a very high resolution (12 km) global deterministic weather prediction model for generating operational weather forecasts. The model has been on trial since September 2016. It has shown significant improvements in skill of daily weather forecasts. This model has been made operational from January 16, 2017.

The present model replaces the earlier version which had a horizontal resolution of 25 km. It was very helpful, especially in predicting the track and the intensity of the recent Very Severe Cyclonic Storm Vardah and the cold wave over the northern parts of India.

MoESs operational Ensemble Prediction System (EPS) will also be upgraded to 12 km. For this the High Performance Computing (HPC) system resources available with MoES is to be augmented to 10 Peta Flops from the current 1.2 Peta Flops. The operational EPS currently has a horizontal resolution of about 25 km.

The EPS is adopted to overcome the problem of uncertainties in the forecasts. It involves the generation of multiple forecasts using slightly varying initial conditions. The EPS also help generate probabilistic forecasts and quantify the uncertainties.

The Ministry of Earth Sciences (MoES) provides Weather, Climate and Hydrological Services to various users round the year and 24/7. Both operational and research aspects for these services are implemented through its constituent units India Meteorological Department (IMD), National Centre for Medium Range Weather Forecasting (NCMRWF), Indian Institute of Tropical Meteorology (IITM) and Indian National Centre for Ocean Information System (INCOIS).

In general, during the last five years, the skill of weather and climate forecasts in India has improved. The improvement is noted especially in general public weather forecasts, monsoon forecasts, heavy rainfall warnings and tropical cyclone warnings and alerts. The successes in predicting the Tropical Cyclones Phailin/Hudhud, heavy rainfall event in Chennai during December 2015, deficient rainfall during monsoon season of 2015 are the best examples for the improvement in prediction capability during the recent years.

Focused research and development activities have been carried out at IITM, NCMRWF and IMD on weather prediction model development and data assimilation methods. Data from the International and Indian satellites are being assimilated in the weather prediction models.

The communication of forecasts to the stake holders on time and in proper language is very important in the effective use of weather and climate forecasts and minimizing the loss and damages due to severe weather. IMD has established an effective mechanism for dissemination of weather and climate forecasts to different stake holders using different communication channels.

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Key Corp standalone net profit declines 22.86% in the December 2016 quarter
Jan 16,2017

Net profit of Key Corp declined 22.86% to Rs 0.27 crore in the quarter ended December 2016 as against Rs 0.35 crore during the previous quarter ended December 2015. Sales declined 24.53% to Rs 0.40 crore in the quarter ended December 2016 as against Rs 0.53 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales0.400.53 -25 OPM %65.0066.04 - PBDT0.260.36 -28 PBT0.260.35 -26 NP0.270.35 -23

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Reliance Industries standalone net profit rises 9.95% in the December 2016 quarter
Jan 16,2017

Net profit of Reliance Industries rose 9.95% to Rs 8022.00 crore in the quarter ended December 2016 as against Rs 7296.00 crore during the previous quarter ended December 2015. Sales rose 9.26% to Rs 61806.00 crore in the quarter ended December 2016 as against Rs 56567.00 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales61806.0056567.00 9 OPM %17.1618.11 - PBDT12698.0011892.00 7 PBT10621.009724.00 9 NP8022.007296.00 10

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LIC Housing Finance standalone net profit rises 19.18% in the December 2016 quarter
Jan 16,2017

Net profit of LIC Housing Finance rose 19.18% to Rs 499.26 crore in the quarter ended December 2016 as against Rs 418.90 crore during the previous quarter ended December 2015. Sales rose 13.24% to Rs 3512.53 crore in the quarter ended December 2016 as against Rs 3101.76 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales3512.533101.76 13 OPM %95.2196.26 - PBDT768.02648.48 18 PBT765.60646.02 19 NP499.26418.90 19

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Dr Agarwals Eye Hospital to announce December quarter results
Jan 16,2017

Dr Agarwals Eye Hospital announced that a meeting of the Board of Directors of the Company is scheduled to be held on 28 January 2017, to consider, approve and take on record the unaudited financial results for the Quarter and Nine months ended 31 December 2016.

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Ravindra Energys Board to consider December quarter results
Jan 16,2017

Ravindra Energy announced that a Meeting of the Board of Directors of the Company will be held on 09 February 2017, inter alia, to consider, approve and take on records the Un-audited Financial Results for the quarter/nine months ended 31 December 2016.

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Board of Titan Securities to consider December quarter results
Jan 16,2017

Titan Securities announced that a meeting of the Board of Directors of Company will be held on 28 January 2017, inter-alia, to consider unaudited financial results of the Company for the quarter ended on 31 December 2016.

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Pasari Spinning Mills to hold board meeting for December quarter results
Jan 16,2017

Pasari Spinning Mills announced that the Board Meeting for consideration and approval of quarterly results for the quarter ending 31 December 2016 shall be held on 27 January 2017.

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Titan Biotech to announce December quarter results
Jan 16,2017

Titan Biotech announced that a meeting of the Board of Directors of Company will be held on 28 January 2017, inter-alia, to consider unaudited financial results of the Company for the quarter ended on 31 December 2016.

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Bengal Tea & Fabrics to hold board meeting for December quarter results
Jan 16,2017

Bengal Tea & Fabrics announced that the meeting of the Board of Directors of the Company is scheduled to be held on 04 February 2017, inter-alia, to consider and take on record the Unaudited Financial Results of the Company for the quarter ended 31 December 2016.

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