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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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Oil Country Tubular reports standalone net loss of Rs 9.27 crore in the September 2016 quarter
Nov 10,2016

Net Loss of Oil Country Tubular reported to Rs 9.27 crore in the quarter ended September 2016 as against net loss of Rs 6.55 crore during the previous quarter ended September 2015. Sales declined 86.86% to Rs 1.24 crore in the quarter ended September 2016 as against Rs 9.44 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales1.249.44 -87 OPM %-709.68-44.39 - PBDT-8.210.44 PL PBT-14.08-5.33 -164 NP-9.27-6.55 -42

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GEE standalone net profit declines 24.14% in the September 2016 quarter
Nov 10,2016

Net profit of GEE declined 24.14% to Rs 1.10 crore in the quarter ended September 2016 as against Rs 1.45 crore during the previous quarter ended September 2015. Sales rose 1.58% to Rs 47.44 crore in the quarter ended September 2016 as against Rs 46.70 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales47.4446.70 2 OPM %7.448.97 - PBDT2.412.68 -10 PBT1.601.75 -9 NP1.101.45 -24

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Deepak Spinners standalone net profit rises 29.82% in the September 2016 quarter
Nov 10,2016

Net profit of Deepak Spinners rose 29.82% to Rs 3.70 crore in the quarter ended September 2016 as against Rs 2.85 crore during the previous quarter ended September 2015. Sales rose 8.73% to Rs 112.04 crore in the quarter ended September 2016 as against Rs 103.04 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales112.04103.04 9 OPM %10.409.39 - PBDT8.787.75 13 PBT4.804.36 10 NP3.702.85 30

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West Coast Paper Mills standalone net profit rises 762.37% in the September 2016 quarter
Nov 10,2016

Net profit of West Coast Paper Mills rose 762.37% to Rs 25.44 crore in the quarter ended September 2016 as against Rs 2.95 crore during the previous quarter ended September 2015. Sales rose 8.41% to Rs 443.89 crore in the quarter ended September 2016 as against Rs 409.46 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales443.89409.46 8 OPM %17.9613.67 - PBDT66.7738.38 74 PBT39.379.75 304 NP25.442.95 762

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Orient Abrasives standalone net profit declines 66.71% in the September 2016 quarter
Nov 10,2016

Net profit of Orient Abrasives declined 66.71% to Rs 2.87 crore in the quarter ended September 2016 as against Rs 8.62 crore during the previous quarter ended September 2015. Sales declined 27.18% to Rs 47.56 crore in the quarter ended September 2016 as against Rs 65.31 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales47.5665.31 -27 OPM %13.9023.41 - PBDT5.8915.34 -62 PBT3.9212.57 -69 NP2.878.62 -67

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Gujarat Petrosynthese reports standalone net loss of Rs 0.19 crore in the September 2016 quarter
Nov 10,2016

Net Loss of Gujarat Petrosynthese reported to Rs 0.19 crore in the quarter ended September 2016 as against net loss of Rs 0.49 crore during the previous quarter ended September 2015. Sales rose 83.77% to Rs 4.19 crore in the quarter ended September 2016 as against Rs 2.28 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales4.192.28 84 OPM %-17.90-20.18 - PBDT-0.70-0.42 -67 PBT-0.76-0.49 -55 NP-0.19-0.49 61

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Gujarat Alkalies & Chemicals standalone net profit rises 90.37% in the September 2016 quarter
Nov 10,2016

Net profit of Gujarat Alkalies & Chemicals rose 90.37% to Rs 87.42 crore in the quarter ended September 2016 as against Rs 45.92 crore during the previous quarter ended September 2015. Sales rose 9.31% to Rs 518.62 crore in the quarter ended September 2016 as against Rs 474.45 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales518.62474.45 9 OPM %23.5415.09 - PBDT142.0488.73 60 PBT114.3462.46 83 NP87.4245.92 90

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Almondz Global Securities announces change in CFO
Nov 10,2016

Almondz Global Securities announced that as a measure of succession planning and also giving opportunity to the new generation and in house talent of the organisation, the present Chief Financial Officer (CFO) and the Key Managerial Person (KMP) of the Company, Govind Prasad Agrawal has offered himself to step down from his position and accordingly, tendered his resignation which has been approved by the Board in its meeting held on 10 November 2016. Aggarwal will be relieved from his duties with effect from the end of business hours of 10 November 2016. Agrawal has stepped down only from the position of CFO and KMP however, he shall remain associated with the Company as an Executive Director.

As the successor of the position of Agrawal, Rajeev Kumar has been appointed as the Chief Financial Officer and Key Managerial Person of the Company w.e.f. 11 November 2016.

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Board of Amrutanjan Health Care declares 1st interim dividend
Nov 10,2016

Amrutanjan Health Care announced that the Board of Directors of the Company at its meeting held on 10 November 2016, inter alia, has declared 1st Interim Dividend of Rs. 1.10/- per share for the year 2016-2017 on the Equity Shares of the Company.

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Minda Industries standalone net profit rises 42.68% in the September 2016 quarter
Nov 10,2016

Net profit of Minda Industries rose 42.68% to Rs 33.06 crore in the quarter ended September 2016 as against Rs 23.17 crore during the previous quarter ended September 2015. Sales rose 17.35% to Rs 433.53 crore in the quarter ended September 2016 as against Rs 369.42 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales433.53369.42 17 OPM %9.4610.92 - PBDT53.2341.95 27 PBT41.5229.11 43 NP33.0623.17 43

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Shreyas Shipping & Logistics standalone net profit declines 87.25% in the September 2016 quarter
Nov 10,2016

Net profit of Shreyas Shipping & Logistics declined 87.25% to Rs 1.78 crore in the quarter ended September 2016 as against Rs 13.96 crore during the previous quarter ended September 2015. Sales rose 21.70% to Rs 92.36 crore in the quarter ended September 2016 as against Rs 75.89 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales92.3675.89 22 OPM %8.1125.34 - PBDT6.9117.10 -60 PBT2.2714.37 -84 NP1.7813.96 -87

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Symbiox Investment & Trading Co standalone net profit declines 88.89% in the September 2016 quarter
Nov 10,2016

Net profit of Symbiox Investment & Trading Co declined 88.89% to Rs 0.01 crore in the quarter ended September 2016 as against Rs 0.09 crore during the previous quarter ended September 2015. Sales rose 247.37% to Rs 0.66 crore in the quarter ended September 2016 as against Rs 0.19 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales0.660.19 247 OPM %4.5568.42 - PBDT0.030.13 -77 PBT0.030.13 -77 NP0.010.09 -89

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Eros International Media standalone net profit declines 19.72% in the September 2016 quarter
Nov 10,2016

Net profit of Eros International Media declined 19.72% to Rs 47.59 crore in the quarter ended September 2016 as against Rs 59.28 crore during the previous quarter ended September 2015. Sales declined 0.39% to Rs 439.73 crore in the quarter ended September 2016 as against Rs 441.47 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales439.73441.47 0 OPM %18.6523.12 - PBDT74.6796.41 -23 PBT73.6995.07 -22 NP47.5959.28 -20

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Outcome of board meeting of Aceel Transmatic
Nov 10,2016

The Board of Accel Transmatic at its meeting held on 10 November 2016 has co-opted Dr M Ayyappan and Dr C N Ramchand as Additional Directors of the Company.

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Sugar stocks are enough in the country, Government is keeping a close watch on prices - Ram Vilas Paswan
Nov 10,2016

Union Minister of Consumer Affairs, Food & Public Distribution, Shri Ram Vilas Paswan reviewed prices and availability of sugar in the country in a meeting with senior officials of his Ministry. After review he said that the Government has taken necessary steps to maintain sufficient stocks in the country and keep the sugar prices under check.

He has said that during the current Sugar Season 2016-17, the country has started with a carryover stock of 7.71 million MT (mMT) of sugar. The production of sugar has been estimated at about 22.52 mMT in the current sugar season. While the domestic consumption is estimated at about 25.5 mMT, the stock position at the close of the current sugar season (Sept. 2017) is likely to be at 4.73 mMT which will be carried forward for the next sugar season 2017-18.

Thus the total availability of sugar in the country would be sufficient to meet the domestic consumption.

Further, the sugar production in the next sugar season (2017-18) is expected to be good and is likely to start early and therefore there will be no shortage of domestically produced sugar in India. By November 2017, another 2 mMT would be available from early crushing.

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