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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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HBL Power Systems reports standalone net profit of Rs 10.64 crore in the March 2017 quarter
May 26,2017

Net profit of HBL Power Systems reported to Rs 10.64 crore in the quarter ended March 2017 as against net loss of Rs 7.17 crore during the previous quarter ended March 2016. Sales rose 27.54% to Rs 442.24 crore in the quarter ended March 2017 as against Rs 346.75 crore during the previous quarter ended March 2016.

For the full year,net profit rose 407.15% to Rs 34.74 crore in the year ended March 2017 as against Rs 6.85 crore during the previous year ended March 2016. Sales rose 9.61% to Rs 1529.86 crore in the year ended March 2017 as against Rs 1395.71 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales442.24346.75 28 1529.861395.71 10 OPM %6.498.52 -8.509.69 - PBDT29.3119.99 47 101.0479.50 27 PBT20.027.40 171 52.8629.15 81 NP10.64-7.17 LP 34.746.85 407

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Maharashtra Seamless standalone net profit rises 4.46% in the March 2017 quarter
May 26,2017

Net profit of Maharashtra Seamless rose 4.46% to Rs 39.15 crore in the quarter ended March 2017 as against Rs 37.48 crore during the previous quarter ended March 2016. Sales rose 38.99% to Rs 450.50 crore in the quarter ended March 2017 as against Rs 324.13 crore during the previous quarter ended March 2016.

For the full year,net profit rose 362.41% to Rs 145.52 crore in the year ended March 2017 as against Rs 31.47 crore during the previous year ended March 2016. Sales rose 40.71% to Rs 1423.04 crore in the year ended March 2017 as against Rs 1011.32 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales450.50324.13 39 1423.041011.32 41 OPM %16.0314.73 -15.493.52 - PBDT82.5977.87 6 295.09123.71 139 PBT65.4261.29 7 225.7154.15 317 NP39.1537.48 4 145.5231.47 362

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Meenakshi Steel Industries reports standalone nil net profit/loss in the March 2017 quarter
May 26,2017

Meenakshi Steel Industries 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 reported to Rs 0.02 crore in the quarter ended March 2017. There were no Sales reported during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 0.04 crore in the year ended March 2017 as against net profit of Rs 0.03 crore during the previous year ended March 2016. Sales declined 57.14% to Rs 0.03 crore in the year ended March 2017 as against Rs 0.07 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales0.020 0 0.030.07 -57 OPM %00 --166.6757.14 - PBDT00 0 -0.040.05 PL PBT00 0 -0.040.05 PL NP0-0.01 100 -0.040.03 PL

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Super Forgings & Steels reports standalone net profit of Rs 0.04 crore in the March 2017 quarter
May 26,2017

Net profit of Super Forgings & Steels reported to Rs 0.04 crore in the quarter ended March 2017 as against net loss of Rs 0.07 crore during the previous quarter ended March 2016. Sales declined 22.43% to Rs 10.55 crore in the quarter ended March 2017 as against Rs 13.60 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 1.20 crore in the year ended March 2017 as against net loss of Rs 1.06 crore during the previous year ended March 2016. Sales declined 19.81% to Rs 47.23 crore in the year ended March 2017 as against Rs 58.90 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales10.5513.60 -22 47.2358.90 -20 OPM %-4.08-14.63 --7.92-8.47 - PBDT-0.88-2.27 61 -4.78-6.06 21 PBT-0.99-2.53 61 -5.55-6.84 19 NP0.04-0.07 LP -1.20-1.06 -13

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INEOS Styrolution India standalone net profit rises 11.83% in the March 2017 quarter
May 26,2017

Net profit of INEOS Styrolution India rose 11.83% to Rs 29.69 crore in the quarter ended March 2017 as against Rs 26.55 crore during the previous quarter ended March 2016. Sales rose 5.02% to Rs 397.65 crore in the quarter ended March 2017 as against Rs 378.63 crore during the previous quarter ended March 2016.

For the full year,net profit rose 8.54% to Rs 69.28 crore in the year ended March 2017 as against Rs 63.83 crore during the previous year ended March 2016. Sales declined 6.41% to Rs 1482.35 crore in the year ended March 2017 as against Rs 1583.90 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales397.65378.63 5 1482.351583.90 -6 OPM %11.559.37 -8.615.97 - PBDT45.1234.05 33 125.5687.46 44 PBT38.8127.31 42 100.2960.25 66 NP29.6926.55 12 69.2863.83 9

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Housing Development & Infrastructure Ltd to hold board meeting
May 26,2017

Housing Development & Infrastructure Ltd will hold a meeting of the Board of Directors of the Company on 30 May 2017, to consider and approve Audited Consolidated Financial Results of the Company and its subsidiaries for the Fourth quarter and financial year ended as on March 31, 2017, to consider and approve Issue of Warrants on Preferential Basis to Promoter of the Company and to consider and approve fund raising programme of the Company.

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Cords Cable Industries to hold board meeting
May 26,2017

Cords Cable Industries will hold a meeting of the Board of Directors of the Company on 30 May 2017, to consider and approve, inter alia, the Audited Financial Results along with Auditors Report for the Fourth Quarter/ Financial Year ended on March 31, 2017 and the Statement of Assets and Liabilities for the half year ended on March 31, 2017 and other items as per the Agenda.

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KGN Enterprises to hold board meeting
May 26,2017

KGN Enterprises will hold a meeting of the Board of Directors of the Company on 30 May 2017, to inter-alia consider the Audited Financial Results for the quarter and year ended March 31, 2017 and Any other business with the consent of the Chair.

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Sonal Mercantile to hold board meeting
May 26,2017

Sonal Mercantile will hold a meeting of the Board of Directors of the Company on 30 May 2017, to consider, approve and take on record Audited Financial Results for the quarter and financial year ended 31st March 2017.

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Raj Oil Mills to hold board meeting
May 26,2017

Raj Oil Mills will hold a meeting of the Board of Directors of the Company on 30 May 2017, to consider and approve the Standalone Audited Financial Results for the quarter and year ended March 31, 2017.

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Hind Commerce to hold board meeting
May 26,2017

Hind Commerce will hold a meeting of the Board of Directors of the Company on 30 May 2017, to consider, approve and take on record the audited annual financial results of the Company for the quarter and year ended March 31, 2017 along with Audit Report, and to transact other business of the Company.

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Celestial Biolabs to hold board meeting
May 26,2017

Celestial Biolabs will hold a meeting of the Board of Directors of the Company on 30 May 2017, to consider and take on record the audited financial results of the Company for the quarter / year ended 31.03.2017.

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Magnanimous Trade & Finance to hold board meeting
May 26,2017

Magnanimous Trade & Finance will hold a meeting of the Board of Directors of the Company on 30 May 2017, to inter alia consider and Approve Financial Results of the Company for the Quarter and Year ended on 31.03.2017.

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Grandma Trading & Agencies to hold board meeting
May 26,2017

Grandma Trading & Agencies will hold a meeting of the Board of Directors of the Company on 30 May 2017, to inter alia consider and Approve Financial Results of the Company for the Quarter and Year ended on 31.03.2017.

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SMS Pharmaceuticals to hold board meeting
May 26,2017

SMS Pharmaceuticals will hold a meeting of the Board of Directors of the Company on 30 May 2017, to consider and approve the Unaudited Standalone Quarterly results for Quarter ended on March 31, 2017, to consider and approve Standalone and Consolidated Annual Audited Financial Statements for the financial year ended on March 31, 2017, and to consider, recommend dividend, if any for the financial year 2016-2017.

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