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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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Hindustan Media Ventures standalone net profit declines 1.48% in the June 2017 quarter
Jul 17,2017

Net profit of Hindustan Media Ventures declined 1.48% to Rs 47.98 crore in the quarter ended June 2017 as against Rs 48.70 crore during the previous quarter ended June 2016. Sales declined 0.99% to Rs 236.84 crore in the quarter ended June 2017 as against Rs 239.20 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales236.84239.20 -1 OPM %21.5423.79 - PBDT73.6172.29 2 PBT68.2967.30 1 NP47.9848.70 -1

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Board of Decillion Finance appoints company secretary and compliance officer
Jul 17,2017

The Board of Directors of Decillion Finance at its meeting held on 17 July 2017 has appointed Archana Mishra as Company Secretary and Compliance Officer with effect from 17 July 2017.

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Prakash Industries standalone net profit rises 323.15% in the June 2017 quarter
Jul 17,2017

Net profit of Prakash Industries rose 323.15% to Rs 59.41 crore in the quarter ended June 2017 as against Rs 14.04 crore during the previous quarter ended June 2016. Sales rose 12.96% to Rs 650.47 crore in the quarter ended June 2017 as against Rs 575.83 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales650.47575.83 13 OPM %16.629.74 - PBDT88.8039.44 125 PBT61.7314.04 340 NP59.4114.04 323

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Jubilant Foodworks standalone net profit rises 25.47% in the June 2017 quarter
Jul 17,2017

Net profit of Jubilant Foodworks rose 25.47% to Rs 23.84 crore in the quarter ended June 2017 as against Rs 19.00 crore during the previous quarter ended June 2016. Sales rose 11.48% to Rs 678.82 crore in the quarter ended June 2017 as against Rs 608.92 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales678.82608.92 11 OPM %11.729.48 - PBDT82.5660.83 36 PBT36.3528.22 29 NP23.8419.00 25

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Virtual Global Education standalone net profit rises 98.86% in the June 2017 quarter
Jul 17,2017

Net profit of Virtual Global Education rose 98.86% to Rs 1.75 crore in the quarter ended June 2017 as against Rs 0.88 crore during the previous quarter ended June 2016. Sales rose 75.40% to Rs 15.26 crore in the quarter ended June 2017 as against Rs 8.70 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales15.268.70 75 OPM %12.7811.49 - PBDT1.890.99 91 PBT1.750.88 99 NP1.750.88 99

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Wellesley Corporation reports standalone net loss of Rs 0.06 crore in the June 2017 quarter
Jul 17,2017

Net Loss of Wellesley Corporation reported to Rs 0.06 crore in the quarter ended June 2017 as against net loss of Rs 0.05 crore during the previous quarter ended June 2016. Sales rose 100.00% to Rs 0.02 crore in the quarter ended June 2017 as against Rs 0.01 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales0.020.01 100 OPM %-300.00-500.00 - PBDT-0.06-0.05 -20 PBT-0.06-0.05 -20 NP-0.06-0.05 -20

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Outcome of board meeting of Ashapura Intimates Fashion
Jul 17,2017

The Board of Directors of Ashapura Intimates Fashion at is meeting held on 17 July 2017 has approved the notice of the Postal Ballot to issue of Preferential Warrants to Hindustan Times and enabling resolution for issue of Non-Convertible Debentures through Postal Ballot and E-voting.

In view of the ongoing merger of Ashapura Intimates Fashion and Momai Apparels the Board of the Company proposed to extend the Annual General Meeting of the Company for the Financial Year 2016-17 as per section 96 of the Companies act, 2013.

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Zenith Exports to hold board meeting
Jul 17,2017

Zenith Exports will hold a meeting of the Board of Directors of the Company on 25 July 2017 Purchase/Sale of Equity shares of the Company by Directors/Designated Officers

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Chennai Petroleum Corporation to hold board meeting
Jul 17,2017

Chennai Petroleum Corporation will hold a meeting of the Board of Directors of the Company on 4 August 2017 to consider the Un-Audited Financial Results for the quarter ended 30th Jun, 2017.

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Sunil Agro Foods to hold board meeting
Jul 17,2017

Sunil Agro Foods will hold a meeting of the Board of Directors of the Company on 28 July 2017 Quarterly Results

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Magna Eletrocasting to hold board meeting
Jul 17,2017

Magna Eletrocasting will hold a meeting of the Board of Directors of the Company on 9 August 2017 to consider and approve, inter alia, unaudited financial results of the Company for the quarter ended 30th June, 2017

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Modern India to hold board meeting
Jul 17,2017

Modern India will hold a meeting of the Board of Directors of the Company on 8 August 2017 to consider and approve the Un-audited Financial Results for 1st Quarter ended 30th June, 2017.

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ST Services to hold board meeting
Jul 17,2017

ST Services will hold a meeting of the Board of Directors of the Company on 29 July 2017 Unaudited Financial Results (standalone) for the 1st Quarter ended on 30th June, 2017.

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Specular Marketing & Financing to hold AGM
Jul 17,2017

Specular Marketing & Financing announced that the 33th Annual General Meeting(AGM) of the company on 10 August 2017.

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NHPC proposes to raise Rs 494 crore by way of bond issue
Jul 17,2017

NHPC proposes to raise funds amounting to Rs 494 crore through issuance of W series corporate bonds on private placement basis. The proposed issue is out of Rs 4500 crore already approved by the shareholders in their 40th Annual General Meeting held on 22 September 2016. The Board will consider the proposal on 27 July 2017.

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