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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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Meghmani Organics announces cessation of CFO
Feb 06,2017

Meghmani Organics announced that Upen Shah, Chief Financial Officer (CFO) & Key Managerial Personnel (KMP) of the Company has resigned and he will be relieved at the Close of business hours on 09 February 2017.

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NBCC (India) provides update on Rs 96.92 crore project for development of tourist facilities
Feb 06,2017

NBCC (India) secured total work amounting to Rs 1117.34 crore in the month of September 2016 which included the implementation of Integrated Development of Tourist Facilities at Gulmarg - Baramulla - Kupwara - Leh valuing Rs 96.92 crore.

A tripartite MoU for the said project has been signed on 06 February 2017 between Ministry of Tourism, NBCC and State Government of Jammu & Kashmir.

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Bank of Maharashtra revises MCLR rates
Feb 06,2017

Bank of Maharashtra has revised the MCLR rates with effect from 07 February 2017 as under -

Overnight - 8.55%
One month - 8.70%
Three month - 8.70%
Six month - 8.75%
One year - 8.75%

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Board of Poly Medicure declares interim dividend and recommends bonus issue of 1:1
Feb 06,2017

Poly Medicure announced that the Board of Directors of the Company at its meeting held on 06 February 2017, inter alia, has transacted the following:

1. Board of Directors of the Company have declared Interim dividend of Re. 1 per equity share having face value of Rs. 5 each.

2. Board of Directors have recommended Bonus of 1:1 on existing paid up Equity Share Capital of the Company subject to approval of the shareholders.

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Board of Poly Medicure declares interim dividend and recommends bonus issue of 1:1
Feb 06,2017

Poly Medicure announced that the Board of Directors of the Company at its meeting held on 06 February 2017, inter alia, has transacted the following:

1. Board of Directors of the Company have declared Interim dividend of Re. 1 per equity share having face value of Rs. 5 each.

2. Board of Directors have recommended Bonus of 1:1 on existing paid up Equity Share Capital of the Company subject to approval of the shareholders.

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Poly Medicure fixes record date for 2nd interim dividend
Feb 06,2017

Poly Medicure has fixed 16 February 2017 as the Record Date for the purpose of payment of Second Interim Dividend.

Further, the said Interim Dividend will be paid to the shareholders after 17 February 2017.

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Board of Tube Investments of India declares interim dividend and approves setting up greenfield manufacturing plant
Feb 06,2017

Tube Investments of India announced that at the meeting held on 06 February 2017, the Board of Directors of the Company have approved the following:

1. Declaration of Interim Dividend:

Payment of an Interim Dividend at Rs. 1.25/- (Rupee One and paise twenty five only) per equity share of the face value of Rs. 2/- each of the Company for the financial year ending 31 March 2017.

The Interim Dividend will be paid on 24 February 2017.

2. Setting up of a greenfield tube manufacturing plant at Rajpura, Punjab:

The Board of Directors approved the proposal for setting up of a greenfield project for manufacturing Cold Rolled Welded (CDW) tubes at Sandharsi Village of Rajpura Tehsil, Patiala District, Punjab as part of the long-term strategy aimed at capability enhancement and regional balancing, at an estimated capital expenditure of about Rs. 77 crore.

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Tube Investments of India fixes record date for interim dividend
Feb 06,2017

Tube Investments of India has fixed 20 February 2017 as the Record Date for the purpose of Payment of Interim Dividend.

The Interim Dividend will be paid on 24 February 2017.

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Kriti Nutrients standalone net profit rises 108.70% in the December 2016 quarter
Feb 06,2017

Net profit of Kriti Nutrients rose 108.70% to Rs 2.40 crore in the quarter ended December 2016 as against Rs 1.15 crore during the previous quarter ended December 2015. Sales rose 9.07% to Rs 90.29 crore in the quarter ended December 2016 as against Rs 82.78 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales90.2982.78 9 OPM %5.353.49 - PBDT4.202.29 83 PBT3.581.72 108 NP2.401.15 109

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Zen Technologies reports standalone net profit of Rs 13.81 crore in the December 2016 quarter
Feb 06,2017

Net profit of Zen Technologies reported to Rs 13.81 crore in the quarter ended December 2016 as against net loss of Rs 2.66 crore during the previous quarter ended December 2015. Sales rose 655.96% to Rs 33.64 crore in the quarter ended December 2016 as against Rs 4.45 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales33.644.45 656 OPM %46.08-82.02 - PBDT16.04-2.90 LP PBT15.41-3.37 LP NP13.81-2.66 LP

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Sri Amarnath Finance reports standalone net profit of Rs 0.06 crore in the December 2016 quarter
Feb 06,2017

Net profit of Sri Amarnath Finance reported to Rs 0.06 crore in the quarter ended December 2016 as against net loss of Rs 0.03 crore during the previous quarter ended December 2015. Sales reported to Rs 0.81 crore in the quarter ended December 2016. There were no Sales reported during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales0.810 0 OPM %14.810 - PBDT0.12-0.03 LP PBT0.07-0.03 LP NP0.06-0.03 LP

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JK Agri Genetics reports standalone net loss of Rs 5.00 crore in the December 2016 quarter
Feb 06,2017

Net Loss of JK Agri Genetics reported to Rs 5.00 crore in the quarter ended December 2016 as against net loss of Rs 5.64 crore during the previous quarter ended December 2015. Sales rose 22.74% to Rs 19.00 crore in the quarter ended December 2016 as against Rs 15.48 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales19.0015.48 23 OPM %-29.11-37.86 - PBDT-7.49-8.59 13 PBT-8.21-9.31 12 NP-5.00-5.64 11

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Winsome Textile Industries standalone net profit rises 287.50% in the December 2016 quarter
Feb 06,2017

Net profit of Winsome Textile Industries rose 287.50% to Rs 7.44 crore in the quarter ended December 2016 as against Rs 1.92 crore during the previous quarter ended December 2015. Sales rose 5.03% to Rs 164.22 crore in the quarter ended December 2016 as against Rs 156.36 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales164.22156.36 5 OPM %15.3812.96 - PBDT12.756.65 92 PBT7.441.92 288 NP7.441.92 288

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SIL Investments standalone net profit rises 317.65% in the December 2016 quarter
Feb 06,2017

Net profit of SIL Investments rose 317.65% to Rs 2.13 crore in the quarter ended December 2016 as against Rs 0.51 crore during the previous quarter ended December 2015. Sales rose 12.90% to Rs 4.55 crore in the quarter ended December 2016 as against Rs 4.03 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales4.554.03 13 OPM %91.2171.96 - PBDT2.681.18 127 PBT2.651.14 132 NP2.130.51 318

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Pulsar International reports standalone net loss of Rs 0.03 crore in the December 2016 quarter
Feb 06,2017

Net Loss of Pulsar International reported to Rs 0.03 crore in the quarter ended December 2016 as against net loss of Rs 0.02 crore during the previous quarter ended December 2015. Sales rose 25.00% to Rs 0.05 crore in the quarter ended December 2016 as against Rs 0.04 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales0.050.04 25 OPM %-60.00-25.00 - PBDT-0.03-0.01 -200 PBT-0.03-0.02 -50 NP-0.03-0.02 -50

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