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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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Sagar Cements standalone net profit declines 41.25% in the December 2016 quarter
Jan 25,2017

Net profit of Sagar Cements declined 41.25% to Rs 1.78 crore in the quarter ended December 2016 as against Rs 3.03 crore during the previous quarter ended December 2015. Sales rose 7.71% to Rs 121.28 crore in the quarter ended December 2016 as against Rs 112.60 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales121.28112.60 8 OPM %12.9512.32 - PBDT10.6511.25 -5 PBT3.565.01 -29 NP1.783.03 -41

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Shree Digvijay Cement Co. reports standalone net loss of Rs 10.80 crore in the December 2016 quarter
Jan 25,2017

Net loss of Shree Digvijay Cement Co. reported to Rs 10.80 crore in the quarter ended December 2016 as against net profit of Rs 6.47 crore during the previous quarter ended December 2015. Sales declined 27.96% to Rs 62.74 crore in the quarter ended December 2016 as against Rs 87.09 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales62.7487.09 -28 OPM %-5.9312.78 - PBDT-5.509.30 PL PBT-10.806.47 PL NP-10.806.47 PL

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Saregama India standalone net profit declines 66.57% in the December 2016 quarter
Jan 25,2017

Net profit of Saregama India declined 66.57% to Rs 1.10 crore in the quarter ended December 2016 as against Rs 3.29 crore during the previous quarter ended December 2015. Sales rose 0.69% to Rs 54.19 crore in the quarter ended December 2016 as against Rs 53.82 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales54.1953.82 1 OPM %4.417.86 - PBDT3.306.28 -47 PBT2.224.22 -47 NP1.103.29 -67

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VRL Logistics standalone net profit declines 16.15% in the December 2016 quarter
Jan 25,2017

Net profit of VRL Logistics declined 16.15% to Rs 21.75 crore in the quarter ended December 2016 as against Rs 25.94 crore during the previous quarter ended December 2015. Sales rose 4.97% to Rs 448.30 crore in the quarter ended December 2016 as against Rs 427.08 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales448.30427.08 5 OPM %13.2515.68 - PBDT56.4162.58 -10 PBT32.5440.16 -19 NP21.7525.94 -16

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IIFL Holdings standalone net profit declines 67.79% in the December 2016 quarter
Jan 25,2017

Net profit of IIFL Holdings declined 67.79% to Rs 25.91 crore in the quarter ended December 2016 as against Rs 80.45 crore during the previous quarter ended December 2015. Sales declined 55.87% to Rs 36.17 crore in the quarter ended December 2016 as against Rs 81.97 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales36.1781.97 -56 OPM %95.1998.84 - PBDT32.8479.60 -59 PBT32.6779.58 -59 NP25.9180.45 -68

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Tata Consultancy Services to collaborate with Gfi Infromatique on smart city technology
Jan 25,2017

Tata Consultancy Services announced a Proof of Concept for the City of Belfort, France using big data analytics to optimise urban bus transport. The solution is a collaboration between the Citys Board of Public Transport, Gfi Informatique and TCS. It will support Belforts smart city strategy, which aims to help local authorities deploy digital transformation projects.

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Inox Leisure opens Multiplex Cinema Theatre in Aurangabad
Jan 25,2017

Inox Leisure has commenced the Commercial Operations of a Multiplex Cinema Theatre, taken on Leave & License basis, and located at Reliance Mega Mall, Gajanan Maharaj Mandir Road, Garkheda, Aurangabad - 431 009 with effect from 25 January 2017.

The said Multiplex Cinema Theatre has 3 screens and 880 seats.

INOX is now present in 57 cities with 114 Multiplexes, 449 screens and a total seating capacity of 1,14,171 seats across India.

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National Fertilizer gets ratings assigned for various credit facilities
Jan 25,2017

National Fertilizer has been assigned the following ratings by India Ratings & Research -

Fund based working capital - IND AA/ Stable / IND A1+

Non-fund based working capital - IND A1+

Long term loans -Ammonia Feedstock Conversion Project - IND AA/ Stable

Long term loans -External Commercial Borrowings - IND AA/ Stable

Proposed long term loans - Provisional IND AA/ Stable

Commercial Paper - IND A1+

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Great Eastern Shipping Company takes delivery of vessel
Jan 25,2017

Great Eastern Shipping Company took delivery of a second hand Aframax Crude Carrier Jag Laxmi (2012 Built) of about 105,525 dwt. The company had contracted to buy the vessel in November 2016.

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Chemfab Alkalis gets accreditation for chemical testing at its QA Laboratory at Puducherry
Jan 25,2017

Chemfab Alkalis announced that Companys Quality Assurance (QA) Laboratory at Puducherry Plant has been granted Accreditation for Chemical Testing in accordance with ISO 17025-2005 by National Accreditation Board for testing & calibration laboratories (NABL).

NABL is an autonomous Institution under the Department of Science and Technology, Government of India.

Companys QA Laboratory is the first laboratory in India and the Chlor-alkali sector to be given this accreditation for analysis of chlor-alkali related samples.

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Tata Steel to acquire majority stake in Creative Port Development
Jan 25,2017

Tata Steel has executed definitive agreements with Creative PortDevelopment (CPDPL) and their promoters for the proposed development of n++Subarnarekha Portn++ at Chaumukh village of Balasore district in Odisha.

As per the agreements, TSL will acquire majority equity stake in CPDPL, and the port development is envisaged through a wholly-owned subsidiary, Subarnarekha Port (SPPL). The acquisition and development is subject to certain conditions precedent, detailed technical assessments and financial closure.

CPDPL, promoted by two technoprenuers, Ramani Ramaswamy and Ramaswamy Rangarajan, had entered into a Concession Agreement with the Government of Odisha in January 2008 to develop the Subarnarekha Port as an allweather deep-draft facility. Detailed engineering study to arrive at the configuration and the project cost will be undertakensoon.

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Havells India to launch range of personal grooming product
Jan 25,2017

Havells India is extending its current product range of small domestic appliances with the addition of personal grooming products.

The relevant disclosures prescribed under the captioned regulation are given hereunder:-

a) Name of the product - Personal Grooming Products such as Trimmers, Shavers, Hair dryer, Epilator, Straightener etc.

b) Date of launch - Formal launch expected in early February, 2017

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Aro Granite Industries director resigns
Jan 25,2017

Aro Granite Industries announced that Kasturi Lal Arora has resigned from the Board of the Company with immediate effect.

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Tech Mahindra to announce Q3 results
Jan 25,2017

Tech Mahindra will announced its Third Quarter FY 2017 results on 30 January 2017.

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Tech Mahindra to announce Q3 results
Jan 25,2017

Tech Mahindra will announced its Third Quarter FY 2017 results on 30 January 2017.

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