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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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ITC standalone net profit rises 10.50% in the September 2016 quarter
Oct 26,2016

Net profit of ITC rose 10.50% to Rs 2500.03 crore in the quarter ended September 2016 as against Rs 2262.50 crore during the previous quarter ended September 2015. Sales rose 9.61% to Rs 9535.47 crore in the quarter ended September 2016 as against Rs 8699.36 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales9535.478699.36 10 OPM %38.0738.88 - PBDT4094.663764.98 9 PBT3826.223506.78 9 NP2500.032262.50 10

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International Paper APPM reports standalone net loss of Rs 21.07 crore in the September 2016 quarter
Oct 26,2016

Net Loss of International Paper APPM reported to Rs 21.07 crore in the quarter ended September 2016 as against net loss of Rs 6.46 crore during the previous quarter ended September 2015. Sales declined 7.57% to Rs 239.36 crore in the quarter ended September 2016 as against Rs 258.97 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales239.36258.97 -8 OPM %3.566.07 - PBDT1.577.82 -80 PBT-15.94-8.84 -80 NP-21.07-6.46 -226

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Exide Industries fixes record date for interim dividend
Oct 26,2016

Exide Industries has fixed 04 November 2016 as the Record Date for the purpose of Payment of Interim Dividend.

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Graviss Hospitality reports consolidated net loss of Rs 2.83 crore in the September 2016 quarter
Oct 26,2016

Net Loss of Graviss Hospitality reported to Rs 2.83 crore in the quarter ended September 2016 as against net loss of Rs 2.97 crore during the previous quarter ended September 2015. Sales declined 0.43% to Rs 9.20 crore in the quarter ended September 2016 as against Rs 9.24 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales9.209.24 0 OPM %-11.74-14.61 - PBDT-1.57-1.70 8 PBT-2.83-2.97 5 NP-2.83-2.97 5

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Asian Granito India consolidated net profit rises 56.33% in the September 2016 quarter
Oct 26,2016

Net profit of Asian Granito India rose 56.33% to Rs 9.63 crore in the quarter ended September 2016 as against Rs 6.16 crore during the previous quarter ended September 2015. Sales rose 6.04% to Rs 264.15 crore in the quarter ended September 2016 as against Rs 249.10 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales264.15249.10 6 OPM %11.848.75 - PBDT21.0814.82 42 PBT12.037.88 53 NP9.636.16 56

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Cadila Healthcare consolidated net profit declines 28.93% in the September 2016 quarter
Oct 26,2016

Net profit of Cadila Healthcare declined 28.93% to Rs 337.60 crore in the quarter ended September 2016 as against Rs 475.00 crore during the previous quarter ended September 2015. Sales rose 3.08% to Rs 2336.30 crore in the quarter ended September 2016 as against Rs 2266.40 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales2336.302266.40 3 OPM %22.0926.95 - PBDT520.90617.70 -16 PBT434.50545.20 -20 NP337.60475.00 -29

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PC Jewellers inaugurates 1st showroom in Agra
Oct 26,2016

PC Jewellers inaugurated its 11th showroom in Uttar Pradesh. This showroom is the first one to be opened in Agra on 25 October 2016. With this, the company has a total of 68 showrooms in 54 cities in India.

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Phoenix Township announces resignation of company secretary
Oct 26,2016

Phoenix Township announced that Dipika Agarwal resigned from the post of Company Secretary of the Company with effect from 01 October 2016.

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Sun Techno Overseas announces resignation of company secretary
Oct 26,2016

Sun Techno Overseas announced that Ankita Dineshbhai Soni has resigned from the post of Company Secretary of the Company w.e.f. 10 September 2016.

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National Aluminium Company announces appointment of director
Oct 26,2016

National Aluminium Company announced that Subhash Chandra, Joint Secretary, Ministry of Mines has been appointed as a Part-time Official Director on the Board of the Company vide Order dated 20 October 2016 of Ministry of Mines, Government of India.

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Board of Oriental Hotels take on record cessation of director
Oct 26,2016

Oriental Hotels announced that the Board of Directors of the Company at its meeting held on 26 October 2016, has taken on record the following:

1. Resignation of D R Kaarthikeyan, an Independent Director who had resigned from the Board to adhere to the upper age criteria prescribed under the Companys Governance Guidelines for Board effectiveness.

2. Resignation of Anil P Goel, a Non-Executive Director on the Board representing The Indian Hotels Co.(IHCL) on account of his retirement from the services of IHCL with effect from 15 October 2016.

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Centre Constitutes Committee for monitoring Bird Flu
Oct 26,2016

The Centre has constituted a Committee headed by Joint Commissioner, Department of Animal Husbandry, Dairy and Fisheries (DADF) to maintain constant vigil on the situation arising out of avian influenza (H5N8). The Committee will have representatives from Ministry of Health, Ministry of Environment, Forests and Climate Change and Department of Agriculture Research and Extension (DARE) and representative of the Delhi Government. Besides, monitoring the situation, the Committee will assist the State Government in taking steps to contain the spread of Avian Influenza.

The National High Security lab for animal diseases - NIHSAD - the world body OIE recognised facility for disease diagnosis in South Asia and the Four Regional Laboratories, and the Central lab at IVRI have been instructed to give all assistance to the State Governments and get sample tested in an emergency response manner. In fact all 45 samples obtained from Delhi government at the Bhopal lab have been tested within the stipulated 72 hour time frame as per Bio-security level -4 requirements and 13 cases have tested positive for H5N8. Similarly test results have been given for other cases in Kerala, Punjab and MP. As per available reports from other states, the disease incidence is in control.

The Animal Husbandry, Dairy and Fisheries Department of the States have issued guidelines for maintaining cleanliness in the zoological parks housing wild birds, water bodies as well as meat / poultry market areas where meat is sold. Necessary precautions for human beings coming in the contact with poultry have also been reinforced although as per WHO observations, the transmission of H5N8 virus is very low. Also there will be no trade impact of the incidence as per global OIE criteria.

All bird sanctuaries and areas where there are lakes have been advised to keep a close watch on the situation and in case of any suspicious death of birds, the State Government and the Centre may be notified. No further test results are presently required by Delhi government to continue with its bio-security measures for implementing the National Action Plan for Control and Containment of the Avian Influenza, 2015 guidelines. Full support of the government of India health department, urban development department, environment department apart from animal husbandry department under the ministry of agriculture & farmers welfare is being provided and there is full communication with the Delhi government on the on-going steps to contain and control the disease incidence.

Daily meetings are being held at the Animal Husbandry Commissioner level in DADF to advise the State Governments in case of emergency.

It may recalled that on 17 October 2016 some birds had died in the Delhi Zoological Park and thereafter birds had died in six other areas. A sample was sent on 17.10.2016 to NIHSAD, and on the same day it was confirmed that the birds had died of H5NH8 virus. A close watch is being maintained and necessary advisories have been issued to all states to keep a vigil on areas frequented by birds both domestic and migratory. Secretary DADF, Shri Devendra Chaudhry is himself keeping close watch and is in constant touch with the chief secretaries of affected states including specially Delhi.

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Resonance Specialities announces resignation of directors
Oct 26,2016

Resonance Specialities announced that pursuant to Section 168 of Companies Act, 2013 read with Rule 15 of the Companies (Appointment of Directors) Rules, 2014 and Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015,

1. Urvi Gupta has resigned from the position of Directors of the Company with effect from 27 September 2016.

2. Satish Chander Mathur, has resigned from the position of Director (Whole time Director) on 29 September 2016 subject to ratification by the Board of Directors in the forthcoming Board meeting.

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Hindustan Copper announces change in directorate
Oct 26,2016

Hindustan Copper announced that the Ministry of Mines, Government of India vide Order dated 25 October 2016 has nominated T C A Kalyani, Joint Secretary & Financial Adviser, Ministry of Mines vice Sujata Prasad, former Joint Secretary & Financial Adviser, Ministry of Mines as part time Official Director on the Board of Hindustan Copper with immediate effect and until further orders.

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Hindustan Unilever to pay interim dividend
Oct 26,2016

Hindustan Unilever announced that interim dividend of Rs 7 per share for FY 2017 will be paid on or after 15 November 2016.

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