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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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State Trading Corporation of India reports standalone net loss of Rs 2.96 crore in the September 2016 quarter
Nov 11,2016

Net loss of State Trading Corporation of India reported to Rs 2.96 crore in the quarter ended September 2016 as against net profit of Rs 1.02 crore during the previous quarter ended September 2015. Sales declined 87.62% to Rs 607.24 crore in the quarter ended September 2016 as against Rs 4903.11 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales607.244903.11 -88 OPM %5.190.70 - PBDT-0.84-0.05 -1580 PBT-4.77-3.57 -34 NP-2.961.02 PL

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Chambal Breweries & Distilleries reports standalone net profit of Rs 0.01 crore in the September 2016 quarter
Nov 11,2016

Net profit of Chambal Breweries & Distilleries remain constant at Rs 0.01 crore in the quarter ended September 2016 and also 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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Standard Shoe Sole & Mould India reports standalone net loss of Rs 0.04 crore in the September 2016 quarter
Nov 11,2016

Net Loss of Standard Shoe Sole & Mould India reported to Rs 0.04 crore in the quarter ended September 2016 as against net loss of Rs 0.04 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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Finkurve Financial Services reports standalone net profit of Rs 0.04 crore in the September 2016 quarter
Nov 11,2016

Net profit of Finkurve Financial Services reported to Rs 0.04 crore in the quarter ended September 2016 as against net loss of Rs 0.09 crore during the previous quarter ended September 2015. Sales rose 37.08% to Rs 2.44 crore in the quarter ended September 2016 as against Rs 1.78 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales2.441.78 37 OPM %94.6795.51 - PBDT0.05-0.07 LP PBT0.04-0.09 LP NP0.04-0.09 LP

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Suryalata Spinning Mills standalone net profit rises 34.16% in the September 2016 quarter
Nov 11,2016

Net profit of Suryalata Spinning Mills rose 34.16% to Rs 2.71 crore in the quarter ended September 2016 as against Rs 2.02 crore during the previous quarter ended September 2015. Sales rose 1.83% to Rs 90.25 crore in the quarter ended September 2016 as against Rs 88.63 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales90.2588.63 2 OPM %9.068.50 - PBDT6.155.09 21 PBT4.103.06 34 NP2.712.02 34

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Ruby Mills standalone net profit declines 50.66% in the September 2016 quarter
Nov 11,2016

Net profit of Ruby Mills declined 50.66% to Rs 5.99 crore in the quarter ended September 2016 as against Rs 12.14 crore during the previous quarter ended September 2015. Sales rose 2.71% to Rs 49.25 crore in the quarter ended September 2016 as against Rs 47.95 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales49.2547.95 3 OPM %26.7035.04 - PBDT12.4820.54 -39 PBT8.5716.05 -47 NP5.9912.14 -51

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Pee Cee Cosma Sope standalone net profit declines 95.24% in the September 2016 quarter
Nov 11,2016

Net profit of Pee Cee Cosma Sope declined 95.24% to Rs 0.02 crore in the quarter ended September 2016 as against Rs 0.42 crore during the previous quarter ended September 2015. Sales declined 9.53% to Rs 16.62 crore in the quarter ended September 2016 as against Rs 18.37 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales16.6218.37 -10 OPM %1.935.50 - PBDT0.230.83 -72 PBT0.050.63 -92 NP0.020.42 -95

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Moser Baer (India) reports standalone net loss of Rs 223.63 crore in the September 2016 quarter
Nov 11,2016

Net Loss of Moser Baer (India) reported to Rs 223.63 crore in the quarter ended September 2016 as against net loss of Rs 284.98 crore during the previous quarter ended September 2015. Sales rose 10.14% to Rs 151.91 crore in the quarter ended September 2016 as against Rs 137.92 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales151.91137.92 10 OPM %-3.94-21.53 - PBDT-56.78-76.87 26 PBT-75.62-98.11 23 NP-223.63-284.98 22

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Indo National standalone net profit rises 20.10% in the September 2016 quarter
Nov 11,2016

Net profit of Indo National rose 20.10% to Rs 6.87 crore in the quarter ended September 2016 as against Rs 5.72 crore during the previous quarter ended September 2015. Sales rose 2.99% to Rs 91.82 crore in the quarter ended September 2016 as against Rs 89.15 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales91.8289.15 3 OPM %13.6612.17 - PBDT11.8010.86 9 PBT10.529.57 10 NP6.875.72 20

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Linde India reports standalone net loss of Rs 5.48 crore in the September 2016 quarter
Nov 11,2016

Net loss of Linde India reported to Rs 5.48 crore in the quarter ended September 2016 as against net profit of Rs 0.34 crore during the previous quarter ended September 2015. Sales rose 15.72% to Rs 465.01 crore in the quarter ended September 2016 as against Rs 401.85 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales465.01401.85 16 OPM %16.0815.03 - PBDT45.0141.04 10 PBT-7.901.04 PL NP-5.480.34 PL

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Gujarat Narmada Valley Fertilizers & Chemicals standalone net profit rises 202.30% in the September 2016 quarter
Nov 11,2016

Net profit of Gujarat Narmada Valley Fertilizers & Chemicals rose 202.30% to Rs 165.48 crore in the quarter ended September 2016 as against Rs 54.74 crore during the previous quarter ended September 2015. Sales rose 18.86% to Rs 1456.41 crore in the quarter ended September 2016 as against Rs 1225.29 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales1456.411225.29 19 OPM %18.6912.54 - PBDT291.64133.38 119 PBT227.6570.11 225 NP165.4854.74 202

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Outcome of board meeting of Wockhardt
Nov 11,2016

Wockhardt announced that the Board of Directors of the Company, at their Meeting held on 10 November 2016, approved the acquisition of 100% stake in Wockhardt France (Holdings) S.A.S. (WFH) (an existing step down subsidiary of the Company) from Wockhardt Bio AG (WBG), a subsidiary of the Company. By virtue of the said acquisition, WFH shall become a direct wholly owned subsidiary of the Company from erstwhile step down subsidiary. WBG continues to be a direct subsidiary of the Company.

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Jain Irrigation Systems grows on turnaround Q2 results
Nov 11,2016

The result was announced after market hours yesterday, 10 November 2016.

Meanwhile, the S&P BSE Sensex was down 338.70 points or 1.23% at 27,110.37.

On BSE, so far 1.9 lakh shares were traded in the counter as against average daily volume of 9.84 lakh shares in the past one quarter. The stock hit a high of Rs 103 and a low of Rs 100.30 so far during the day. The stock had hit a 52-week high of Rs 109.25 on 30 October 2016. The stock had hit a 52-week low of Rs 47 on 17 February 2016. The stock outperformed the market over the past one month till 10 November 2016, advancing 2.31% compared with 2.01% fall in the Sensex. The scrip also outperformed the market in past one quarter, jumping 33.56% as against Sensexs 0.93% fall.

The mid-cap company has equity capital of Rs 92.03 crore. Face value per share is Rs 2.

Jain Irrigation Systems total income rose 8.69% to Rs 1464.60 crore in Q2 September 2016 over in Q2 September 2015. Revenue rose by registering positive growth in all the business divisions except other businesses.

Managing Director and CEO of the company Anil Jain said that double digit growth in micro irrigation and agro processing division in India coupled with strong growth in certain overseas markets for micro irrigation business helped to achieve good Q2 performance. On the back of adequate monsoon, company expects robust positive business conditions for the next few quarters. The company shall incrementally achieve much better working capital cycle in the second half of the year ending 31 March 2017 (FY 2017), he added.

Jain Irrigation Systems is engaged in manufacturing of micro irrigation systems, PVC pipes, HDPE pipes, plastic sheets, agro processed products, renewable energy solutions, tissue culture plants, financial services and other agricultural inputs.

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Board of AMD Industries approves installation of new machine for capacity addition
Nov 11,2016

AMD Industries announced that the Board of Directors of the Company at its meeting held on 10 November 2016, inter-alia, has proposed to enhance the production capacity by installing a new line of machine of single piece CSD closure to meet business requirement. The capacity of the machine would be around 60 crore pcs. per annum. It is proposed to start the production by the end of this financial year and the same is considered and approved by the Board.

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Laurel Organics announces change in company secretary & compliance officer
Nov 11,2016

The Board of Laurel Organics has accepted the resignation of Gaurav Kumar from post of Company Secretary and Compliance Officer of the Company and approved appointment of Pratibha Anand as Company Secretary and Compliance Officer with effect from 10 November 2016.

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