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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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Johnson Controls-Hitachi Air Condition. India reports standalone net loss of Rs 5.36 crore in the September 2016 quarter
Oct 24,2016

Net Loss of Johnson Controls-Hitachi Air Condition. India reported to Rs 5.36 crore in the quarter ended September 2016 as against net loss of Rs 10.73 crore during the previous quarter ended September 2015. Sales rose 15.97% to Rs 287.50 crore in the quarter ended September 2016 as against Rs 247.90 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales287.50247.90 16 OPM %-0.50-2.17 - PBDT-0.12-6.86 98 PBT-11.95-17.36 31 NP-5.36-10.73 50

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Navin Fluorine International standalone net profit rises 138.66% in the September 2016 quarter
Oct 24,2016

Net profit of Navin Fluorine International rose 138.66% to Rs 55.44 crore in the quarter ended September 2016 as against Rs 23.23 crore during the previous quarter ended September 2015. Sales rose 20.94% to Rs 182.33 crore in the quarter ended September 2016 as against Rs 150.76 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales182.33150.76 21 OPM %22.2821.03 - PBDT46.9139.76 18 PBT40.9235.16 16 NP55.4423.23 139

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Kingfa Science & Technology (India) standalone net profit rises 89.14% in the September 2016 quarter
Oct 24,2016

Net profit of Kingfa Science & Technology (India) rose 89.14% to Rs 4.18 crore in the quarter ended September 2016 as against Rs 2.21 crore during the previous quarter ended September 2015. Sales rose 29.54% to Rs 112.09 crore in the quarter ended September 2016 as against Rs 86.53 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales112.0986.53 30 OPM %6.038.85 - PBDT7.354.33 70 PBT6.413.79 69 NP4.182.21 89

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Gujarat State Fertilizers & Chemicals standalone net profit declines 12.05% in the September 2016 quarter
Oct 24,2016

Net profit of Gujarat State Fertilizers & Chemicals declined 12.05% to Rs 125.01 crore in the quarter ended September 2016 as against Rs 142.14 crore during the previous quarter ended September 2015. Sales declined 8.62% to Rs 1637.82 crore in the quarter ended September 2016 as against Rs 1792.24 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales1637.821792.24 -9 OPM %11.9211.46 - PBDT200.55222.29 -10 PBT173.88197.39 -12 NP125.01142.14 -12

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Board of Yash Papers approves change in registered office
Oct 24,2016

Yash Papers announced that the Board of Directors of the Company at its meeting held on 22 October 2016, has approved the change of place of Registered Office from 13/65, Parmat, Civil Lines, Kanpur - 208 001, Uttar Pradesh, India to Flat No.202, Preet Garden, 3A/172, Azad Nagar, Opposite Muskan Guest House, Kanpur Nagar, Kanpur - 208002, Uttar Pradesh, India w.e.f. 01 November 2016.

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Board of Sayaji Hotels accepts sanction of credit facility of Rs 24.5 cr
Oct 24,2016

Sayaji Hotels announced that the Board of Directors of the Company at its meeting held on 24 October 2016, inter alia, the following decisions were considered & approved:

- Acceptance of the sanction letter of Axis Bank for their credit facility of Rs 24.50 crore.

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Kanishk Steel Industries announces change in directorate
Oct 24,2016

Kanishk Steel Industries announced that:

1. Ravi Kumar Gupta resigned as the Chairman and Managing Director of the Company with effect from 24 October 2016.

2. Kanishk Gupta, Director has been designated as the Chairman and Managing Director of the Company with effect from 24 October 2016.

The Board of Directors of the Company approved the above appointment and resignation at the Meeting held on 24 October 2016.

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Board of Jointeca Education Solutions accepts resignation of directors
Oct 24,2016

Jointeca Education Solutions announced that the Board of Directors of the Company at its meeting held on 24 October 2016, (meeting commenced at 11:00am and concluded at 5:00 pm) inter alia, have approved the following:-

1. Accepted the resignation of Umesh Chand Sharma from Directorship of the Company.

2. Accepted the resignation of Alok Kumar Mittal from Directorship of the Company.

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Bharti Infratel consolidated net profit rises 30.80% in the September 2016 quarter
Oct 24,2016

Net profit of Bharti Infratel rose 30.80% to Rs 773.80 crore in the quarter ended September 2016 as against Rs 591.60 crore during the previous quarter ended September 2015. Sales rose 9.01% to Rs 1496.30 crore in the quarter ended September 2016 as against Rs 1372.60 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales1496.301372.60 9 OPM %46.0543.38 - PBDT1014.00846.00 20 PBT726.30558.90 30 NP773.80591.60 31

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Supreme Petrochem reports standalone net profit of Rs 28.63 crore in the September 2016 quarter
Oct 24,2016

Net profit of Supreme Petrochem reported to Rs 28.63 crore in the quarter ended September 2016 as against net loss of Rs 24.95 crore during the previous quarter ended September 2015. Sales declined 2.11% to Rs 624.44 crore in the quarter ended September 2016 as against Rs 637.88 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales624.44637.88 -2 OPM %7.89-3.00 - PBDT49.59-19.32 LP PBT43.72-25.04 LP NP28.63-24.95 LP

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Zensar Technologies provides update on its CSR initiative
Oct 24,2016

Zensar Technologies announced the opening of a Digi-Lab, Science Lab and Library at the Late Hambir Rao Moze School Complex in Chandan Nagar, Pune as part of its community development initiatives under ZenCSR.

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Bartronics India announces change in CEO
Oct 24,2016

Bartronics India announced that Pundarika Prasad Bibireddy, CEO of the Company, has tendered his resignation with a request to be relieved immediately. On the interim basis, K. Udai Sagar, Managing Director of the Company, will take charge of his responsibilities.

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Kirloskar Ferrous Industries announces resignation of director
Oct 24,2016

Kirloskar Ferrous Industries announced that S. N. Inamdar, Independent Director has tendered the resignation as a Director of the Company due to health reason and the Board of Directors has accepted his resignation with effect from 24 October 2016.

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Mahindra CIE Automotive appoints CFO
Oct 24,2016

Mahindra CIE Automotive announced that on the recommendation of the Nomination and Remuneration committee and the Audit committee, the Board of Directors of the Company at its meeting held on 24 October 2016 (commenced at 2.30 p.m. and concluded at 4.00 p.m.), appointed K. Jayaprakash as Chief Financial Officer of the Company with effect from 24 October 2016.

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Bodal Chemicals sells Unit V in Bharuch, Gujarat
Oct 24,2016

Bodal Chemicals announced that Unit - V of the Company situated at Plot No 6002/2B, G.I.D.C., Ankleshwar, Dist. Bharuch, Gujarat has been sold to the Makxan Products.

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