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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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Foreign Exchange Earnings (In Rupee and US $ Terms) Through Tourism in India in March 2017
Apr 20,2017

Ministry of Tourism estimates monthly Foreign Exchange Earnings (FEEs) through Tourism in India, both in rupee and dollar terms. Based on the credit data of Travel Head from Balance of Payments of RBI.

The highlights of the estimates of FEEs from Tourism in India for March 2017 are as below:

Foreign Exchange Earnings (FEEs) through Tourism (in Rs. terms)

n++ FEEs during the month of March 2017 were Rs.14, 953 crore as compared to Rs. 13,115 crore in March 2016 and `11,133 crore in March 2015.

n++ The growth rate in FEEs in rupee terms in March 2017 over March 2016 was 14.0% compared to positive growth of 17.8% in March 2016 over March 2015.

n++ FEEs during the period January- March 2017 were Rs. 46,310 crore with a growth of 14.6%, as compared to the FEE of Rs. 40,411 crore with a growth of 15.9% in January- March 2016 over January- March 2015.

Foreign Exchange Earnings (FEEs) through Tourism (in US $ terms)

n++ FEEs in US$ terms during the month of March 2017 were US$ 2.268 billion as compared to FEEs of US$ 1.958 billion during the month of March 2016 and US$ 1.783 billion in March 2015.

n++ The growth rate in FEEs in US$ terms in March 2017 over March 2016 was 15.8% compared to a positive growth of 9.8% in March 2016 over March 2015.

n++ FEEs during the period January-March 2017 were US$ 6.907 billion with a growth of 15.4% as compared to the FEE of US$ 5.986 billion with a growth of 6.8% in January- March 2016 over January- March 2015.

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TCS wins Oracle Integrated Cloud Partner of the Year award
Apr 20,2017

Tata Consultancy Services has been recognised by Oracle as its Integrated Cloud Partner of the Year in UK & Ireland.

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Purshottam Investofin announces resignation of director
Apr 20,2017

Purshottam Investofin announced that Paresh Rajde, Additional Director has resigned from the Company with effect from 18 April 2017.

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Sprayking Agro Equipment to hold board meeting
Apr 20,2017

Sprayking Agro Equipment will hold a meeting of the Board of Directors of the Company on 29 April 2017, to consider, approve and take on record the audited Financial Results of the Company for the half-year and year ended on 31 March 2017

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Board of Jay Bharat Maruti recommends final dividend
Apr 20,2017

Jay Bharat Maruti announced that the Board of Directors of the Company at its meeting held on 19 April 2017, inter alia, have recommended the final dividend of Rs 2.5 per equity Share (i.e. 50%) , subject to the approval of the shareholders.

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Prima Agro to hold board meeting
Apr 20,2017

Prima Agro will hold a meeting of the Board of Directors of the Company on 28 April 2017, for approval of Quarterly Results for 4th Quarter ending 31 March 2017.

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Housing Development & Infrastructure launches The Nest residential project in Mumbai
Apr 20,2017

Housing Development & Infrastructure has launched a new project The Nest at Mulund, Mumbai, under the affordable housing brand Budget Homes , having 263 units open for Sale in phase 1 of the project.

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PVR announces cessation of Chief Business Development Officer
Apr 20,2017

PVR announced that the employment of Vijay Kapoor who was employed as Chief Business Development Officer of the Company has been terminated with effect from 20 April, 2017 on disciplinary grounds.

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Gammon India provides update on scheme of arrangement
Apr 20,2017

Gammon India announced that it have received the certified true copy of the order of the National Company Law Tribunal, Mumbai Bench on 18 April 2017 approving the Scheme of Arrangement between Gammon India (GIL or the Transferor Company) and Transrail Lighting (TLL or the Transferee Company) and their respective shareholders and creditors (the Scheme). A copy of the said order has been filed with the Registrar of Companies (ROC) Mumbai, on 19 April 2017. The Scheme of Arrangement has come into effect upon filing of the copy of order with the ROC.

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FPIs on selling spree
Apr 20,2017

Foreign portfolio investors (FPIs) sold stocks worth a net Rs 629.14 crore into the secondary equity markets on 19 April 2017, compared with net outflow of Rs 834.25 crore on 18 April 2017. On that day, the Sensex rose 17.47 points or 0.06% to settle at 29,336.57, its highest level since 17 April 2017.

The net outflow of Rs 629.14 crore on 19 April 2017 was a result of gross purchases of Rs 3772.18 crore and gross sales of Rs 4401.32 crore.

There was a net inflow of Rs 64.32 crore in the category primary market & others on 19 April 2017, which was a result of gross purchases of Rs 66.49 crore and gross sales of Rs 2.17 crore.

FPIs have sold stocks worth a net Rs 2853.87 crore in April 2017 (till 19 April 2017). FPIs had bought stocks worth a net Rs 29480.37 crore in March 2017.

FPIs have purchased shares worth a net Rs 33633.60 crore from the secondary equity markets in calendar year 2017 (till 19 April 2017). They had purchased shares worth a net Rs 12094.42 crore from the secondary equity markets in calendar year 2016.

There was a net inflow of Rs 4094.92 crore from FPIs into the category primary market & others in April 2017 so far (till 19 April 2017). FPIs had bought stocks worth a net Rs 1425.63 crore from the category primary market & others in March 2017.

FPIs have purchased shares worth a net Rs 7239.03 crore from the category primary markets & others in calendar year 2017 so far (till 19 April 2017). The net inflow from FPIs in the category primary markets & others had totaled Rs 8471.76 crore in calendar year 2016.

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Cyient consolidated net profit rises 15.81% in the March 2017 quarter
Apr 20,2017

Net profit of Cyient rose 15.81% to Rs 78.40 crore in the quarter ended March 2017 as against Rs 67.70 crore during the previous quarter ended March 2016. Sales rose 14.48% to Rs 933.90 crore in the quarter ended March 2017 as against Rs 815.80 crore during the previous quarter ended March 2016.

For the full year,net profit rose 5.62% to Rs 343.80 crore in the year ended March 2017 as against Rs 325.50 crore during the previous year ended March 2016. Sales rose 15.89% to Rs 3585.80 crore in the year ended March 2017 as against Rs 3094.10 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales933.90815.80 14 3585.803094.10 16 OPM %12.8112.31 -13.3113.38 - PBDT147.30122.80 20 553.20506.20 9 PBT121.8093.50 30 457.90417.40 10 NP78.4067.70 16 343.80325.50 6

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Cyient standalone net profit rises 137.70% in the March 2017 quarter
Apr 20,2017

Net profit of Cyient rose 137.70% to Rs 59.90 crore in the quarter ended March 2017 as against Rs 25.20 crore during the previous quarter ended March 2016. Sales rose 15.55% to Rs 328.50 crore in the quarter ended March 2017 as against Rs 284.30 crore during the previous quarter ended March 2016.

For the full year,net profit rose 1.46% to Rs 236.90 crore in the year ended March 2017 as against Rs 233.50 crore during the previous year ended March 2016. Sales rose 3.73% to Rs 1292.00 crore in the year ended March 2017 as against Rs 1245.60 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales328.50284.30 16 1292.001245.60 4 OPM %23.1413.01 -21.6820.09 - PBDT99.9055.50 80 361.10363.40 -1 PBT87.8032.90 167 307.10295.00 4 NP59.9025.20 138 236.90233.50 1

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Hindustan Zinc standalone net profit rises 42.37% in the March 2017 quarter
Apr 20,2017

Net profit of Hindustan Zinc rose 42.37% to Rs 3056.96 crore in the quarter ended March 2017 as against Rs 2147.22 crore during the previous quarter ended March 2016. Sales rose 95.63% to Rs 6756.15 crore in the quarter ended March 2017 as against Rs 3453.59 crore during the previous quarter ended March 2016.

For the full year,net profit rose 1.72% to Rs 8315.59 crore in the year ended March 2017 as against Rs 8175.36 crore during the previous year ended March 2016. Sales rose 21.57% to Rs 18797.99 crore in the year ended March 2017 as against Rs 15463.13 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales6756.153453.59 96 18797.9915463.13 22 OPM %55.4838.04 -51.8143.02 - PBDT4214.992048.82 106 12010.469398.50 28 PBT3682.881847.71 99 10199.248653.51 18 NP3056.962147.22 42 8315.598175.36 2

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TCS provides update on TCS Digital Software & Solutions Group
Apr 20,2017

Tata Consultancy Services announced that TCS Digital Software & Solutions Groups Customer Intelligence & Insights for Banking and Financial Services software is now certified on Cloudera Enterprise, the worlds most popular platform for machine learning and advanced analytics based on the latest open source technologies.

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Kingfa Science & Technology (India) allots 19,99,893 equity shares
Apr 20,2017

Kingfa Science & Technology (India) has allotted 19,99,893 Equity shares of face value of Rs.10/- each pursuant to issue of Rights Shares of the Company. Post the above allotment, the paid up equity share capital of the Company would stand at Rs 12.11 crore consisting of 121,10,461 equity shares of Rs 10 each.

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