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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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NHPC leads gainers in A group
Jan 12,2017

NHPC jumped 8.94% to Rs 29.85 at 14:41 IST. The stock topped the gainers in the BSEs A group. On the BSE, 77.95 lakh shares were traded on the counter so far as against the average daily volumes of 2.80 lakh shares in the past two weeks.

AIA Engineering surged 8.46% to Rs 1,424.50. The stock was the second biggest gainer in A group. On the BSE, 19,000 shares were traded on the counter so far as against the average daily volumes of 1,068 lakh shares in the past two weeks.

SJVN gained 6.32% at Rs 31.95. The stock was the third biggest gainer in A group. On the BSE, 6.58 lakh shares were traded on the counter so far as against the average daily volumes of 33,000 shares in the past two weeks.

Tata Communications advanced 4.93% at Rs 667.70. The stock was the fourth biggest gainer in A group. On the BSE, 1.15 lakh shares were traded on the counter so far as against the average daily volumes of 33,000 shares in the past two weeks.

NTPC rose 4.9% to Rs 172.45. The stock was the fifth biggest gainer in A group. On the BSE, 8.55 lakh shares were traded on the counter so far as against the average daily volumes of 1.70 lakh shares in the past two weeks.

NTPC said that the company has signed a non-binding memorandum of understanding (MoU) with Rajasthan Rajya Vidyut Utpadan and Rajasthan Urja Vikas Nigam for take-over of Chhabra thermal power plant stage-I (4x 250 MW) and stage-II (2x660 MW) of Rajasthan Urja Vikas Nigam. The announcement was made during market hours today, 12 January 2017.

In a separate announcement made after market hours yesterday, 11 January 2017, NTPC said that the companys board of directors has accorded investment approval for Dulanga coal mining project having rated production capacity of 7 MTPA at an appraised estimated cost of Rs 1053.41 crore.

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Bajaj Corp fixes record date for interim dividend
Jan 12,2017

Bajaj Corp has fixed 24 January 2017 as the Record Date for the purpose of payment of Interim Dividend.

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Bajaj Corp to pay interim dividend
Jan 12,2017

Bajaj Corp announced that interim dividend of Rs 11.50 per share will be credited / dispatched to die Equity Shareholders of the Company from 01 February 2017 onwards.

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Board of Bajaj Corp recommends interim dividend
Jan 12,2017

Bajaj Corp announced that the meeting of the Board of Directors of the Company held on 12 January 2017, inter alia, the Board of Directors have:

1. Recommended an Interim Dividend at the rate of 1150% i.e. Rs. 11.50 per share of Re. 1/- each of the Company.

2. The aforesaid dividend will be credited / dispatched to die Equity Shareholders of the Company from 01 February 2017 onwards.

3. Approved and adopted Business Responsibility Policy in compliance of Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) (Amendment) Regulation, 2015.

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IP Rings fixes record date for rights issue
Jan 12,2017

IP Rings has fixed 17 January 2017 as the Record Date for the purpose of Rights Issue.

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Board of NHPC declares interim dividend for FY 2017
Jan 12,2017

NHPC announced that the Board of Directors of the Company in its meeting held on 12 January 2017 has declared an interim dividend @ 17% of the face value of Rs. 10 per share (Rs. 1.70 per equity share) on the paid up equity share capital of the Company for the financial year 2016-17. The dividend shall be paid/dispatched within the period as stipulated in Companies Act, 2013.

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Board of Gorani Industries to consider Q3 results
Jan 12,2017

Gorani Industries announced that the meeting of the Board of Directors of the company will be held on 31 January 2017, to consider and adopt the unaudited quarterly results (provisional) for the third quarter ended as on 31 December 2016.

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IP Rings surges after fixing record date for rights issue
Jan 12,2017

The announcement was made during market hours today, 12 January 2017.

Meanwhile, the S&P BSE Sensex was up 63.77 points or 0.23% at 27,204.18.

More than usual volumes were seen traded on the counter. On the BSE, 16,034 shares were traded on the counter so far as against the average daily volumes of 4,892 shares in the past one quarter. The stock had hit a high of Rs 255 so far during the day, which is a record high for the counter. The stock had hit a low of Rs 233.20 so far during the day. The stock had hit a 52-week low of Rs 105 on 21 March 2016.

The stock had outperformed the market over the past one month till 11 January 2017, rising 15.88% compared with the Sensex 1.47% gains. The scrip had also outperformed the market in past one quarter, rising 15.71% as against Sensexs 3.35% decline.

The small-cap company has equity capital of Rs 7.04 crore. Face value per share is Rs 10.

IP Rings announced after market hours yesterday, 11 January 2017, that rights issue sub-committee of the company at a meeting held on that day, fixed 23 January 2017 as the rights issue opening date and 6 February 2017 as its closing date.

IP Rings board of directors on 4 January 2017 had approved rights issue in the ratio of four rights equity shares for every five equity shares held on the record date. The rights issue price was fixed at Rs 88.75 per share.

IP Rings reported net loss of Rs 1.40 crore in Q2 September 2016, higher than net loss of Rs 0.45 crore in Q2 September 2015. Net sales rose 56.8% to Rs 42.27 crore in Q2 September 2016 over Q2 September 2015.

IP Rings is an automotive components manufacturer.

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Coral Newsprints reports standalone net loss of Rs 0.12 crore in the December 2016 quarter
Jan 12,2017

Net loss of Coral Newsprints reported to Rs 0.12 crore in the quarter ended December 2016 as against net profit of Rs 0.05 crore during the previous quarter ended December 2015. Sales rose 9.17% to Rs 3.81 crore in the quarter ended December 2016 as against Rs 3.49 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales3.813.49 9 OPM %-2.102.58 - PBDT-0.080.09 PL PBT-0.120.05 PL NP-0.120.05 PL

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S I Capital & Financial Services reports standalone net loss of Rs 0.01 crore in the December 2016 quarter
Jan 12,2017

Net loss of S I Capital & Financial Services reported to Rs 0.01 crore in the quarter ended December 2016. There were no net profit/loss reported during the previous quarter ended December 2015. Sales rose 33.68% to Rs 2.58 crore in the quarter ended December 2016 as against Rs 1.93 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales2.581.93 34 OPM %-0.39-3.11 - PBDT00 0 PBT-0.010 0 NP-0.010 0

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PALCO reports standalone net loss of Rs 0.01 crore in the December 2016 quarter
Jan 12,2017

Net Loss of PALCO reported to Rs 0.01 crore in the quarter ended December 2016 as against net loss of Rs 0.12 crore 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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South Indian Bank standalone net profit rises 9.59% in the December 2016 quarter
Jan 12,2017

Net profit of South Indian Bank rose 9.59% to Rs 111.38 crore in the quarter ended December 2016 as against Rs 101.63 crore during the previous quarter ended December 2015. Total Operating Income rose 5.07% to Rs 1478.96 crore in the quarter ended December 2016 as against Rs 1407.66 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Total Operating Income1478.961407.66 5 OPM %65.8171.35 - PBDT170.34156.68 9 PBT170.34156.68 9 NP111.38101.63 10

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Tata Power gains after subsidiary commissions renewable projects
Jan 12,2017

The announcement was made during market hours today, 12 January 2017.

Meanwhile, the S&P BSE Sensex was up 92.57 points or 0.34% at 27,232.98.

On the BSE, 5.16 lakh shares were traded on the counter so far as against the average daily volumes of 3.25 lakh shares in the past one quarter. The stock had hit a high of Rs 79.80 and a low of Rs 77.05 so far during the day. The stock had hit a 52-week high of Rs 84.45 on 24 October 2016 and a 52-week low of Rs 55 on 12 February 2016.

The stock had underperformed the market over the past one month till 11 January 2017, declining 0.13% compared with the Sensex 1.47% gains. The scrip had also underperformed the market in past one quarter, falling 4.76% as against Sensexs 3.35% decline.

The large-cap company has equity capital of Rs 270.46 crore. Face value per share is Re 1.

Tata Power Company said that its wholly owned subsidiary Tata Power Renewable Energy (TPREL) announced the commissioning of 36 megawatts (MW) wind capacity of a 100 MW wind farm, which is under construction at Nimbagallu in Andhra Pradesh, and 49 MW solar plant at Kayathar, Tamil Nadu, under Welspun Renewable Energy (WREPL).

With these, the operating renewable energy capacity of TPREL grew to 1,876 MW, comprising 841 MW wind, 915 MW solar, and 120 MW waste heat recovery capacity. In FY 2016, TPREL increased its operational capacity by 1,169 MW.

TPREL completed the acquisition of WREPL last year to become the largest renewable energy company in lndia. In 2016, TPREL has won 320 MW of solar bids, which are under development and will be commissioned in 2017. The company has also added 304 MW wind capacity in 2016, which are under development and construction in Gujarat, Andhra Pradesh, Madhya Pradesh and Karnataka.

On a consolidated basis, Tata Power reported net profit of Rs 336.24 crore in Q2 September 2016, as against net loss of Rs 95.87 crore in Q2 September 2015. Net sales declined 5.6% to Rs 7190.54 crore in Q2 September 2016 over Q2 September 2015.

Tata Power is Indias largest integrated power company with a growing international presence.

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Sulabh Engineers & Services to announce December quarter results
Jan 12,2017

Sulabh Engineers & Services announced that a meeting of the Board of Directors of the Company will be held on 21 January 2017, inter alia, to consider and approve the unaudited financial results (Stand alone) for the quarter ended on 31 December 2016, and to transact such other business as may be required.

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Sumeet Industries Board to consider December quarter results
Jan 12,2017

Sumeet Industries announced that a meeting of the Board of Directors of the Company will be held on 23 January 2017, inter alia, to consider and take on record the Standalone and Consolidated Un-Audited Financial Results of the Company for the quarter/nine months ended on December, 2016.

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