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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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Lakshmi Automatic Loom Works standalone net profit rises 23.08% in the September 2016 quarter
Nov 10,2016

Net profit of Lakshmi Automatic Loom Works rose 23.08% to Rs 0.48 crore in the quarter ended September 2016 as against Rs 0.39 crore during the previous quarter ended September 2015. Sales rose 15.28% to Rs 0.83 crore in the quarter ended September 2016 as against Rs 0.72 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales0.830.72 15 OPM %46.9948.61 - PBDT0.560.51 10 PBT0.480.43 12 NP0.480.39 23

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Devinsu Trading reports standalone net loss of Rs 0.01 crore in the September 2016 quarter
Nov 10,2016

Net Loss of Devinsu Trading reported to Rs 0.01 crore in the quarter ended September 2016 as against net loss of Rs 0.01 crore during the previous quarter ended September 2015. There were no Sales reported in the quarter ended September 2016 and during the previous quarter ended September 2015.

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Bhansali Engineering Polymers standalone net profit rises 65.52% in the September 2016 quarter
Nov 10,2016

Net profit of Bhansali Engineering Polymers rose 65.52% to Rs 8.64 crore in the quarter ended September 2016 as against Rs 5.22 crore during the previous quarter ended September 2015. Sales rose 33.88% to Rs 163.31 crore in the quarter ended September 2016 as against Rs 121.98 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales163.31121.98 34 OPM %9.507.37 - PBDT14.236.69 113 PBT12.885.57 131 NP8.645.22 66

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Himatsingka Seide standalone net profit rises 25.28% in the September 2016 quarter
Nov 10,2016

Net profit of Himatsingka Seide rose 25.28% to Rs 44.11 crore in the quarter ended September 2016 as against Rs 35.21 crore during the previous quarter ended September 2015. Sales rose 10.27% to Rs 276.88 crore in the quarter ended September 2016 as against Rs 251.09 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales276.88251.09 10 OPM %24.6424.92 - PBDT67.7054.98 23 PBT58.2745.21 29 NP44.1135.21 25

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Bombay Oxygen Corporation standalone net profit rises 1153.33% in the September 2016 quarter
Nov 10,2016

Net profit of Bombay Oxygen Corporation rose 1153.33% to Rs 3.76 crore in the quarter ended September 2016 as against Rs 0.30 crore during the previous quarter ended September 2015. Sales rose 9.35% to Rs 4.56 crore in the quarter ended September 2016 as against Rs 4.17 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales4.564.17 9 OPM %-13.82-62.35 - PBDT5.300.71 646 PBT4.600.07 6471 NP3.760.30 1153

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Jay Shree Tea & Industries standalone net profit declines 27.59% in the September 2016 quarter
Nov 10,2016

Net profit of Jay Shree Tea & Industries declined 27.59% to Rs 23.36 crore in the quarter ended September 2016 as against Rs 32.26 crore during the previous quarter ended September 2015. Sales declined 28.58% to Rs 153.31 crore in the quarter ended September 2016 as against Rs 214.66 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales153.31214.66 -29 OPM %19.8618.84 - PBDT26.9236.59 -26 PBT23.3632.26 -28 NP23.3632.26 -28

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Elecon Engineering Company reports standalone net loss of Rs 3.03 crore in the September 2016 quarter
Nov 10,2016

Net loss of Elecon Engineering Company reported to Rs 3.03 crore in the quarter ended September 2016 as against net profit of Rs 5.86 crore during the previous quarter ended September 2015. Sales declined 13.24% to Rs 183.04 crore in the quarter ended September 2016 as against Rs 210.97 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales183.04210.97 -13 OPM %9.9016.33 - PBDT5.8422.47 -74 PBT-6.668.59 PL NP-3.035.86 PL

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Elecon Engineering Company reports consolidated net loss of Rs 7.43 crore in the September 2016 quarter
Nov 10,2016

Net loss of Elecon Engineering Company reported to Rs 7.43 crore in the quarter ended September 2016 as against net profit of Rs 7.63 crore during the previous quarter ended September 2015. Sales declined 12.89% to Rs 246.78 crore in the quarter ended September 2016 as against Rs 283.29 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales246.78283.29 -13 OPM %7.2915.11 - PBDT3.0325.71 -88 PBT-11.289.80 PL NP-7.437.63 PL

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Inditrade Capital consolidated net profit declines 80.91% in the September 2016 quarter
Nov 10,2016

Net profit of Inditrade Capital declined 80.91% to Rs 1.43 crore in the quarter ended September 2016 as against Rs 7.49 crore during the previous quarter ended September 2015. Sales rose 34.36% to Rs 9.58 crore in the quarter ended September 2016 as against Rs 7.13 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales9.587.13 34 OPM %12.53-1.82 - PBDT3.1114.77 -79 PBT2.8014.53 -81 NP1.437.49 -81

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Sequent Scientific reports consolidated net loss of Rs 5.15 crore in the September 2016 quarter
Nov 10,2016

Net loss of Sequent Scientific reported to Rs 5.15 crore in the quarter ended September 2016 as against net profit of Rs 5.35 crore during the previous quarter ended September 2015. Sales rose 58.60% to Rs 248.91 crore in the quarter ended September 2016 as against Rs 156.94 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales248.91156.94 59 OPM %8.2112.34 - PBDT14.3316.92 -15 PBT-2.157.62 PL NP-5.155.35 PL

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Himatsingka Seide consolidated net profit rises 51.71% in the September 2016 quarter
Nov 10,2016

Net profit of Himatsingka Seide rose 51.71% to Rs 46.09 crore in the quarter ended September 2016 as against Rs 30.38 crore during the previous quarter ended September 2015. Sales declined 3.21% to Rs 499.81 crore in the quarter ended September 2016 as against Rs 516.37 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales499.81516.37 -3 OPM %18.1114.57 - PBDT73.1253.51 37 PBT60.2535.72 69 NP46.0930.38 52

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Pincon Spirit announces resignation of company secretary
Nov 10,2016

Pincon Spirit announced that Aditya Karwa, Company Secretary and Compliance Officer of the Company has resigned from his position. The Board has accepted the resignation of Company Secretary with immediate effect from 10 November 2016.

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Old demonitised 500 & 1000 rupee notes will be accepted for making payments towards fees, charges, taxes and penalties payable to the Central & State
Nov 10,2016

The Central Government has taken a decision that old 500 & 1000 rupee notes will be accepted for making payments towards fees, charges, taxes and penalties payable to the Central and State Governments including Municipal and Local Bodies. Such old notes will also be accepted for making payment of utility charges for water & electricity etc. However, these facilities will be available only till midnight of 11th November,2016.

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Shoppers Stop intimates of closure of 2 Shoppers Stop stores in Pune & Mumbai
Nov 10,2016

Shoppers Stop announced that the Company has closed Shoppers Stop stores at Inorbit Mall-Pune and Nirmal Lifestyle-Mulund, due to lower than expected businesses and its low profitability.

During the last financial year, sales from Inorbit Mall-Pune was Rs. 24.91 crore which is 0.66% of the turnover of the Company and sales from Nirmal Lifestyle - Mulund was Rs. 1,6.67 crore which is 0.44% of the turnover of the Company.

With these closures, the Company has now 81 n++Shoppers Stopn++ (including six airport stores) stores under its operations.

And also, inform that our 51% Subsidiary Company; Hypercity Retail (India); has closed n++Hypercityn++ store at Inorbit Mall-Pune due to lower than expected business and its low profitability. The sale from this store for the last financial year was Rs. 13.27 crore which is 1.40% of the turnover of the Hypercity. With the closing of this store, there are now 19 Hypercity stores.

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Thermax appoints director
Nov 10,2016

Thermax announced that the Board of Directors of the Company at its meeting held on 10 November 2016, has approved the appointment of Harsh Mariwala as an Additional Director in the capacity of Non-Executive Independent Director of the Company with effect from 10 November 2016.

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