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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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Board of Manappuram Finance recommends dividend
May 29,2017

Manappuram Finance announced that the Board of Directors of the Company at its meeting held on 25 May 2017, inter alia, have recommended the dividend of Rs 0.5 per equity Share (i.e. 25%) , subject to the approval of the shareholders.

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Board of MEP Infrastructure Developers recommends final dividend
May 29,2017

MEP Infrastructure Developers announced that the Board of Directors of the Company at its meeting held on 25 May 2017, inter alia, have recommended the final dividend of Rs 0.15 per equity Share (i.e. 15%) , subject to the approval of the shareholders.

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Board of NBCC (India) recommends final dividend
May 29,2017

NBCC (India) announced that the Board of Directors of the Company at its meeting held on 26 May 2017, inter alia, have recommended the final dividend of Rs 1.1 per equity Share (i.e. 55%) , subject to the approval of the shareholders.

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Board of Morganite Crucible (India) recommends final dividend
May 29,2017

Morganite Crucible (India) announced that the Board of Directors of the Company at its meeting held on 25 May 2017, inter alia, have recommended the final dividend of Rs 8 per equity Share (i.e. 80%) , subject to the approval of the shareholders.

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Board of Johnson Contls.-HitachiAirCondtg.Ind. recommends final dividend
May 29,2017

Johnson Contls.-HitachiAirCondtg.Ind. announced that the Board of Directors of the Company at its meeting held on 23 May 2017, inter alia, have recommended the final dividend of Rs 1.5 per equity Share (i.e. 15%) , subject to the approval of the shareholders.

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Board of Jubilant Life Sciences recommends final dividend
May 29,2017

Jubilant Life Sciences announced that the Board of Directors of the Company at its meeting held on 23 May 2017, inter alia, have recommended the final dividend of Rs 3 per equity Share (i.e. 300%) , subject to the approval of the shareholders.

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Board of Ingersoll-Rand (India) recommends final dividend
May 29,2017

Ingersoll-Rand (India) announced that the Board of Directors of the Company at its meeting held on 23 May 2017, inter alia, have recommended the final dividend of Rs 3 per equity Share (i.e. 30%) , subject to the approval of the shareholders.

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Board of JB Chemicals & Pharamaceuticals recommends final dividend
May 29,2017

JB Chemicals & Pharamaceuticals announced that the Board of Directors of the Company at its meeting held on 23 May 2017, inter alia, have recommended the final dividend of Rs 1 per equity Share (i.e. 50%) , subject to the approval of the shareholders.

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Bihar is the top litchi producing State, about 300 thousand metric tonnes of litchi is being produced from 32 thousand hectare areas: Shri Radha Mohan
May 29,2017

Union Minister of Agriculture and Farmers Welfare, Shri Radha Mohan Singh said that the main objective of the Central Government is focused on research to develop new varieties and techniques of litchi farming to increase its production and to share information with the Extension Division.

Union Minister said that Bihar is the top litchi producing State in the country. In Bihar, about 300 thousand metric tonnes of litchi is being produced from 32 thousand hectares of area. Bihars contribution in the production of litchi is about 40 percent. Considering the importance of litchi, National Research Centre on Litchi was established on June 6, 2001.

Shri Singh said that the contribution of Muzaffarpur district in litchis production is impressive, but there is a need to increase the productivity of litchi, which is currently 8.0 tonne. For this, all the government institutions, cooperatives and farmers will have to come forward. Union Agriculture Minister said that it is a matter of immense pride that scientists at Bhabha Atomic Research Centre and National Research Centre on Litchi have succeeded in treating litchi and preserving it for 60 days at low temperature. One of its processing plants has also been developed. Shri Singh said that this technique will be useful for the litchi producers and businessmen. Shri Singh also said that to make this technique effective, litchi producers will have to produce superior quality fruits for which National Research Centre on Litchi has developed several techniques. The National Research Centre on Litchi is providing about 35-40 thousand plants every year to various institutions/states in the country. Union Agriculture Minister said that the National Research Centre on Litchi is working closely with other institutions of ICAR and agricultural universities of the state and the development centres of the Central and State Governments like National Horticulture Board, APEDA, National Horticulture Mission etc.

Shri Radha Mohan Singh said that our scientists are working day and night to develop advanced varieties and agricultural activities and that State Governments, KVKs and other institutions should take it to the masses. Through its limited resources, the centre has implemented ICARs Farmers First project in East Champaran district. As many as 1,000 families from 8 villages (Mehsi Block-Uzhilpur, Bakri Najir, Damodarpur Village, Chakia Block- Khairwa, Ramgarha, Jishnupura, Ojha Tola- Vaishah and Chintanpur-Malahi Tola village) are reaping the benefits of several new techniques. And the unique initiative by the council allows farmers to test advanced technology themselves. And now there is a need to create awareness about it. Through Mera Gaon- Mera Gaurav program, scientists have been successful in taking new techniques to some villages. The Centre has initiated Health Card scheme through which orchards are being examined and farmers are being sensitised. Not just Bihar, litchi fruit farming can be successfully done in other parts of the country too. Therefore, there is a need to promote research in these areas too.

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Suryaamba Spinning Mills reports standalone net loss of Rs 0.42 crore in the March 2017 quarter
May 29,2017

Net loss of Suryaamba Spinning Mills reported to Rs 0.42 crore in the quarter ended March 2017 as against net profit of Rs 1.14 crore during the previous quarter ended March 2016. Sales rose 4.13% to Rs 38.32 crore in the quarter ended March 2017 as against Rs 36.80 crore during the previous quarter ended March 2016.

For the full year,net profit declined 39.73% to Rs 1.79 crore in the year ended March 2017 as against Rs 2.97 crore during the previous year ended March 2016. Sales declined 7.34% to Rs 133.78 crore in the year ended March 2017 as against Rs 144.38 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales38.3236.80 4 133.78144.38 -7 OPM %0.556.68 -4.636.30 - PBDT0.922.81 -67 6.788.12 -17 PBT-0.171.74 PL 2.734.50 -39 NP-0.421.14 PL 1.792.97 -40

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Integra Telecommunication & Software reports standalone net loss of Rs 0.03 crore in the March 2017 quarter
May 29,2017

Net Loss of Integra Telecommunication & Software reported to Rs 0.03 crore in the quarter ended March 2017 as against net loss of Rs 0.34 crore during the previous quarter ended March 2016. There were no Sales reported in the quarter ended March 2017 and during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 0.13 crore in the year ended March 2017 as against net loss of Rs 0.45 crore during the previous year ended March 2016. There were no Sales reported in the year ended March 2017 as against Rs 0.01 crore during the previous year ended March 2016.

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Allsoft Corporation reports standalone net loss of Rs 0.08 crore in the March 2017 quarter
May 29,2017

Net Loss of Allsoft Corporation reported to Rs 0.08 crore in the quarter ended March 2017 as against net loss of Rs 0.05 crore during the previous quarter ended March 2016. Sales declined 92.09% to Rs 0.14 crore in the quarter ended March 2017 as against Rs 1.77 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 0.23 crore in the year ended March 2017 as against net loss of Rs 0.17 crore during the previous year ended March 2016. Sales declined 87.67% to Rs 0.62 crore in the year ended March 2017 as against Rs 5.03 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales0.141.77 -92 0.625.03 -88 OPM %35.719.04 -41.947.36 - PBDT-0.020.05 PL -0.010.10 PL PBT-0.08-0.01 -700 -0.25-0.14 -79 NP-0.08-0.05 -60 -0.23-0.17 -35

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Baron Infotech reports standalone nil net profit/loss in the March 2017 quarter
May 29,2017

Baron Infotech reported no net profit/loss in the quarter ended March 2017 as against net loss of Rs 0.01 crore during the previous quarter ended March 2016. Sales remain constant at Rs 0.01 crore in the quarter ended March 2017 and also during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 0.01 crore in the year ended March 2017 as against net profit of Rs 0.76 crore during the previous year ended March 2016. Sales declined 76.00% to Rs 0.06 crore in the year ended March 2017 as against Rs 0.25 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales0.010.01 0 0.060.25 -76 OPM %0-100.00 --16.67-8.00 - PBDT0-0.01 100 -0.010.91 PL PBT0-0.01 100 -0.010.91 PL NP0-0.01 100 -0.010.76 PL

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Menon Pistons standalone net profit rises 165.22% in the March 2017 quarter
May 29,2017

Net profit of Menon Pistons rose 165.22% to Rs 1.22 crore in the quarter ended March 2017 as against Rs 0.46 crore during the previous quarter ended March 2016. Sales declined 3.69% to Rs 32.37 crore in the quarter ended March 2017 as against Rs 33.61 crore during the previous quarter ended March 2016.

For the full year,net profit rose 62.00% to Rs 6.95 crore in the year ended March 2017 as against Rs 4.29 crore during the previous year ended March 2016. Sales rose 1.70% to Rs 132.63 crore in the year ended March 2017 as against Rs 130.41 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales32.3733.61 -4 132.63130.41 2 OPM %9.087.77 -12.3510.45 - PBDT2.552.11 21 14.6311.15 31 PBT1.501.01 49 10.266.73 52 NP1.220.46 165 6.954.29 62

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Narendra Properties reports standalone net loss of Rs 0.19 crore in the March 2017 quarter
May 29,2017

Net loss of Narendra Properties reported to Rs 0.19 crore in the quarter ended March 2017 as against net profit of Rs 0.02 crore during the previous quarter ended March 2016. There were no Sales reported in the quarter ended March 2017 and during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 0.36 crore in the year ended March 2017 as against net profit of Rs 0.32 crore during the previous year ended March 2016. There were no Sales reported in the year ended March 2017 and during the previous year ended March 2016.

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