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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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K-Lifestyle & Industries reports standalone net loss of Rs 15.39 crore in the June 2017 quarter
Aug 11,2017

Net Loss of K-Lifestyle & Industries reported to Rs 15.39 crore in the quarter ended June 2017 as against net loss of Rs 14.57 crore during the previous quarter ended June 2016. Sales rose 209.29% to Rs 35.29 crore in the quarter ended June 2017 as against Rs 11.41 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales35.2911.41 209 OPM %2.159.03 - PBDT-8.70-7.88 -10 PBT-15.39-14.57 -6 NP-15.39-14.57 -6

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Media Matrix Worldwide standalone net profit declines 61.76% in the June 2017 quarter
Aug 11,2017

Net profit of Media Matrix Worldwide declined 61.76% to Rs 0.13 crore in the quarter ended June 2017 as against Rs 0.34 crore during the previous quarter ended June 2016. Sales declined 15.56% to Rs 0.76 crore in the quarter ended June 2017 as against Rs 0.90 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales0.760.90 -16 OPM %13.1650.00 - PBDT0.180.49 -63 PBT0.180.49 -63 NP0.130.34 -62

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Indsil Hydro Power & Manganese to declare Quarterly Result
Aug 11,2017

Indsil Hydro Power & Manganese will hold a meeting of the Board of Directors of the Company on 23 August 2017, to consider, amongst the other things the unaudited financial results of the Company for the quarter ended 30th June, 2017.

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Steps to Promote use of clean fuels in Indian Railways
Aug 11,2017

Railways are taking the following steps to promote use of clean fuels and reduce carbon emissions:

(i) Use of B5 (5% Bio-Diesel) blends of bio diesel in the diesel locomotives.

(ii) Use of Compressed Natural Gas (CNG) based dual fuel system on DEMU trains to achieve 20% substitution of Diesel with gas.

(iii) Development of CNG based dual fuel system with 40% substitution of diesel for high economy and environmental benefit.

(iv) Process to establish two bio diesel manufacturing plants with 30 Ton Per Day (TPD) capacity owned by Railways.

(v) Promote use of LNG/CNG as environment friendly industrial gas in place of Liquid Petroleum Gas (LPG) and Acetylene in Railway workshops.

(vi) Promote and install roof top based solar power generation system in railways workshops and production units.

Railways are installing solar and wind power plants mostly through developer mode wherein investment will be made by the developer and Railways will procure power on long term Power Purchase Agreement (PPA).

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Sri Nachammai Cotton Mills announces board meeting date
Aug 11,2017

Sri Nachammai Cotton Mills will hold a meeting of the Board of Directors of the Company on 6 September 2017, to consider the Unaudited Financial Results of the companyfor the Quarter ended 30th June 2017.

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Ganesh Benzoplast to conduct board meeting
Aug 11,2017

Ganesh Benzoplast will hold a meeting of the Board of Directors of the Company on 18 August 2017, to consider the Change in designation of Mr Ramesh Punjabi from Non-Executive Independent Director to Non-Executive Non-Independent Director, liable to retire by rotation

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Safety Measures At Unmanned Level Crossings
Aug 11,2017

Following two trial projects are in progress for ensuring safety at unmanned level crossings:-

(i) Development and implementation of Satellite based system for warning at unmanned level crossing gates of Indian Railways has been undertaken by Research Designs & Standards Organisation (RDSO)/Ministry of Railways and Space Applications Centre/Indian Space Research Organisation (SAC/ISRO).

(ii) Development and implementation of a n++Suitable and Viable Vandal-Proof Advance Warning Systemn++ (Radio & Radio Frequency Identification based) to Pre-warn road users against approaching train at unmanned level crossing gate was undertaken by RDSO in association with IIT/Kanpur at one LC gate. Based on the report submitted, RDSO is now conducting extended field trials at 10 unmanned LC gates in association with IIT/Kanpur to check the efficacy of the system.

Based on the extended trial report, the adoption of the technologies shall be considered.

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Board of CG Power & Industrial Solutions accepts binding offer for sale of Hungary business
Aug 11,2017

CG Power & Industrial Solutions announced that as part of the Companys stated strategy of geography/ product wise divestment with the objective of debt reduction and focus on core operations and core market in India, the Board of Directors of the Company has accepted the binding offer for sale of assets and shares of the Companys business in Hungary (excluding switchgear business) for an enterprise value of Euro 38 million from the prospective buyers to comprise of Ganz Villamossagi Zrt. and Alester Holdings.

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Wintac announces resignation of directors
Aug 11,2017

Wintac announced that the Independent Directors Kavitha Krishnamoorthy and A.R.Thirumoorti have resigned as Independent Directors of the Company effective from 11 August 2017 due to personal reasons.

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Yes Bank allots 56,325 equity shares
Aug 11,2017

Yes Bank has allotted 56,325 equity shares of Rs 10 each on 10 August 2017 under ESOP. Post the allotment, the paid up share capital of the Company has increased to Rs 457.74 crore consisting of 45,77,41,415 equity shares of Rs 10 each.

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Technocraft Industries (India) gets reaffirmation in credit ratings
Aug 11,2017

Technocraft Industries (India) announced that CRISIL has re-affirmed the credit rating on Long Term Bank Loan facility and short term Bank Loan, which is as under:

(i) Rating on Long Term Bank Loan facility reaffirmed as CRISIL A+/Positive

(ii) Rating on Short Term Bank Loan reaffirmed as CRISIL A1+

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Pennar Industries to sell its stake in subsidiary Pennar Renewables
Aug 11,2017

Pennar Industries has agreed to enter into an agreement to sell its stake in its subsidiary Pennar Renewables to Greenko Solar Energy. Once the sale of transaction completes, debt of the company reduces by around Rs. 101 crore from its consolidated Balance Sheet. The proceeds from the sale of transaction will be used by the company to expand its product base and addressable markets.

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As per the National Family Health Survey (NFHS)-4 (2015-16), 35.7 per cent children below five years are underweight
Aug 11,2017

As per the National Family Health Survey (NFHS)-4 (2015-16), 35.7 per cent children below five years are underweight, 38.4 per cent are stunted and 21 per cent are wasted in the country. In the State of Madhya Pradesh 42.8 per cent children below five years are underweight, 42 per cent are stunted and 25.8 per cent are wasted.

The indicator n++Children under 5 years who are underweight (weight-for-age)n++ is one of the composite indicator for child malnutrition. As per NFHS-4 data, the national average of children under 5 years who are underweight has reduced from 42.5% as reported in NFHS-3(2005-06) to 35.7% in NFHS-4(2015-16) and in the State of Madhya Pradesh during the same period, underweight children under 5 years has gone down from 60%(NFHS-3) (2005-06) to 42.8%(NFHS-4). Further in the State of Madhya Pradesh the districts Barwani&Sheopur have reported highest (55%) of children under 5 years who are underweight during 2015-16 (NFHS-4).

Report on Medical Certification of Cause of Death (MCCD) gives statistics on Cause of death obtained through Civil Registration System under Registration of Births and Deaths Act 1969. It is published annually by Registrar General & Census Commissioner of India.

Central governments have initiated various programs like MAA (Mothers Absolute Affection) to promote exclusive breast feeding; PradhanMantriSurakshitMatritvaAbhiyan; and issued the following guidelines to the state governments including Madhya Pradesh to combat the challenges of malnutrition in the country.

i. Operational Guidelines on Facility Based Management of Children with Severe Acute Malnutrition (SAM).

ii. Guidelines for Management of Severe Acute Malnutrition (SAM) Children at Nutrition Rehabilitation Centre (NRC)

iii. Central government have also issued guidelines on India Newborn Action Plan (INAP) to all the state governments.

iv. National guidelines for enhancing optimal Infant and Young Child Feeding (IYCF) practices.

v. Operational guidelines on Home Based Newborn Care (HBNC) and Facility Based Newborn Care (FBNC).

vi. National Iron Plus Initiative (NIPI) for anaemia control among children from 6 to 60 months of age.

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Oil & Natural Gas Corpn announces appointment of nominee director
Aug 11,2017

Oil & Natural Gas Corpn announced that Rajiv Bansal, IAS, Additional Secretary & Financial Adviser, Ministry of Petroleum & Natural Gas, has been nominated as a Government Nominee Director on the Board of the Company.

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PPAP Automotive standalone net profit rises 67.51% in the June 2017 quarter
Aug 11,2017

Net profit of PPAP Automotive rose 67.51% to Rs 5.93 crore in the quarter ended June 2017 as against Rs 3.54 crore during the previous quarter ended June 2016. Sales rose 0.94% to Rs 81.41 crore in the quarter ended June 2017 as against Rs 80.65 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales81.4180.65 1 OPM %19.3015.23 - PBDT15.4711.23 38 PBT9.055.27 72 NP5.933.54 68

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