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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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Glaxosmithkline Pharma standalone net profit rises 3.45% in the September 2016 quarter
Oct 27,2016

Net profit of Glaxosmithkline Pharma rose 3.45% to Rs 98.85 crore in the quarter ended September 2016 as against Rs 95.55 crore during the previous quarter ended September 2015. Sales rose 11.85% to Rs 782.86 crore in the quarter ended September 2016 as against Rs 699.95 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales782.86699.95 12 OPM %17.9818.30 - PBDT158.82159.44 0 PBT152.24154.11 -1 NP98.8595.55 3

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Elgi Rubber Company reports consolidated net loss of Rs 2.19 crore in the September 2016 quarter
Oct 27,2016

Net Loss of Elgi Rubber Company reported to Rs 2.19 crore in the quarter ended September 2016 as against net loss of Rs 1.59 crore during the previous quarter ended September 2015. Sales declined 6.93% to Rs 90.41 crore in the quarter ended September 2016 as against Rs 97.14 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales90.4197.14 -7 OPM %6.027.48 - PBDT3.334.63 -28 PBT-1.94-0.35 -454 NP-2.19-1.59 -38

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Dishman Pharmaceuticals and Chemicals consolidated net profit rises 97.19% in the September 2016 quarter
Oct 27,2016

Net profit of Dishman Pharmaceuticals and Chemicals rose 97.19% to Rs 54.68 crore in the quarter ended September 2016 as against Rs 27.73 crore during the previous quarter ended September 2015. Sales rose 14.49% to Rs 426.94 crore in the quarter ended September 2016 as against Rs 372.89 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales426.94372.89 14 OPM %27.1225.21 - PBDT104.5375.94 38 PBT73.6442.38 74 NP54.6827.73 97

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Redington India consolidated net profit rises 3.13% in the September 2016 quarter
Oct 27,2016

Net profit of Redington India rose 3.13% to Rs 100.21 crore in the quarter ended September 2016 as against Rs 97.17 crore during the previous quarter ended September 2015. Sales rose 16.05% to Rs 9725.42 crore in the quarter ended September 2016 as against Rs 8380.69 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales9725.428380.69 16 OPM %1.962.18 - PBDT149.72149.21 0 PBT136.26137.35 -1 NP100.2197.17 3

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Cybertech Systems & Software consolidated net profit rises 643.64% in the September 2016 quarter
Oct 27,2016

Net profit of Cybertech Systems & Software rose 643.64% to Rs 4.09 crore in the quarter ended September 2016 as against Rs 0.55 crore during the previous quarter ended September 2015. Sales rose 20.80% to Rs 21.08 crore in the quarter ended September 2016 as against Rs 17.45 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales21.0817.45 21 OPM %16.187.39 - PBDT6.391.87 242 PBT5.310.99 436 NP4.090.55 644

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Piramal Enterprises consolidated net profit rises 30.18% in the September 2016 quarter
Oct 27,2016

Net profit of Piramal Enterprises rose 30.18% to Rs 306.36 crore in the quarter ended September 2016 as against Rs 235.33 crore during the previous quarter ended September 2015. Sales rose 29.70% to Rs 1936.40 crore in the quarter ended September 2016 as against Rs 1493.04 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales1936.401493.04 30 OPM %38.4029.83 - PBDT330.76276.81 19 PBT257.48219.39 17 NP306.36235.33 30

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Board of Dalmia Bharat Sugar & Industries appoints company secretary & compliance officer
Oct 27,2016

Dalmia Bharat Sugar and Industries announced that the Board of Directors at its Meeting held on 27 October 2016 inter alia has appointed Isha Kalra, a qualified Company Secretary as the Company Secretary and the Compliance officer of the Company with immediate effect.

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Mahindra & Mahindra provides update on subsidiary
Oct 27,2016

Mahindra & Mahindra announced that the Board of its subsidiary - Mahindra Lifespace Developers, at its meeting held on 27 October 2016 has approved raising of funds by way of issue of equity shares to the existing shareholders of the Company on a rights basis upto Rs 300 crore.

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Orient Paper & Industries provides update on proposed demerger
Oct 27,2016

Orient Paper & Industries announced that the credit rating for Term loans / Bank facilities and Commercial paper of the Company has been placed on credit watch by Credit Analysis & Research (CARE) in view of the proposed demerger of the Companys Consumer Electric Business into its Wholly Owned Subsidiary Company, Orient Electric.

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Star Ferro & Cement incorporates subsidiary - Star Century Global Cement
Oct 27,2016

Star Ferro & Cement has incorporated a wholly owned subsidiary by the name of Star Century Global Cement in Myanmar. The subsidiary has been incorporated to render engineering, technical, financial, management and skilled and other services to prospecting and exploration of mines and minerals in Myanmar and to provide technical consultancy services in explorations, mining, process, engineering, operating data and all other related areas.

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Gokaldas Exports allots equity shares
Oct 27,2016

Gokaldas Exports announced that the Board Meeting of the Company at its meeting held on 27 October 2016, has allotted 3,334 equity shares of the face value of Rs. 5/- each in accordance with the terms of Employees Stock Options Schemes (ESOS) 2010.

The Paid Up Share Capital of the Company will accordingly increase from 3,49,24,328 equity shares of Rs. 5/- each to 3,49,27,662 equity shares of Rs. 5/- each.

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Shriram City Union Finance fixes record date for interim dividend
Oct 27,2016

Shriram City Union Finance has fixed 09 November 2016 as the Record Date for the purpose of payment of interim dividend. The Dividend shall be paid/dispatchedon or before 18 November 2016.

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Rupee stable
Oct 27,2016

Rupee closed almost stable at 66.8579/8730 per dollar on Thursday (27 October 2016), versus its previous close of 66.8599/8700 per dollar.

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Universal Prime Aluminium to hold board meeting
Oct 27,2016

Universal Prime Aluminium will hold a meeting of the Board of Directors of the Company on 7 November 2016 to consider, approve and take on record the Un-audited Financial Results of the Company together with the Limited Review Report for the quarter ended September 30, 2016.

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National Plastic Industries to hold board meeting
Oct 27,2016

National Plastic Industries will hold a meeting of the Board of Directors of the Company on 9 November 2016 to consider Un-audited financial results of the Company for the quarter and half year ended September 30, 2016.

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