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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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NESCO plans sub-division of equity shares
May 19,2017

NESCO has plans for sub-division of the face value of equity shares of the Company. The Board of Directors will consider the proposal at meeting on 29 May 2017.

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VRL Logistics appoints director
May 19,2017

VRL Logistics announced the appointment of N Umesh as a whole time director subject to approval of Shareholders at the ensuing Annual General Meeting of the Company

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Laurus Labs receives EIR for API facility of Unit 2
May 19,2017

Laurus Labs announced that the API facility of the Unit 2 has completed successful USFDA inspection without any 483 and the formulations unit in the same facility received EIR (Establishment Inspection Report) on 18 May 2017

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Board of Mahindra Holidays & Resorts India recommends bonus issue
May 19,2017

Mahindra Holidays & Resorts India announced that the Board of Directors of the Company at its meeting held on 19 May 2017, inter alia, has:

1. Recommended a dividend of Rs. 5/- (Rupees Five only) per equity share of Rs.10/- each for the financial year ended 31 March 2017.

2. Recommended issue of Bonus Shares in the proportion of 1:2 i.e. 1 (One) bonus equity share of Rs. 10/- each for 2 (Two) fully paid-up equity shares of Rs. 10/- each held as on the Record Date, subject to the approval of the Members of the Company. The Record Date for this purpose is being informed separately.

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Titagarh Wagons reports standalone net profit of Rs 7.01 crore in the March 2017 quarter
May 19,2017

Net profit of Titagarh Wagons reported to Rs 7.01 crore in the quarter ended March 2017 as against net loss of Rs 9.79 crore during the previous quarter ended March 2016. Sales rose 31.08% to Rs 98.35 crore in the quarter ended March 2017 as against Rs 75.03 crore during the previous quarter ended March 2016.

For the full year,net profit reported to Rs 19.28 crore in the year ended March 2017 as against net loss of Rs 8.98 crore during the previous year ended March 2016. Sales rose 12.10% to Rs 349.18 crore in the year ended March 2017 as against Rs 311.48 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales98.3575.03 31 349.18311.48 12 OPM %4.401.32 -5.14-1.11 - PBDT12.458.59 45 37.8717.76 113 PBT8.044.63 74 26.315.63 367 NP7.01-9.79 LP 19.28-8.98 LP

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Jain Studios standalone net profit declines 2.08% in the March 2017 quarter
May 19,2017

Net profit of Jain Studios declined 2.08% to Rs 1.41 crore in the quarter ended March 2017 as against Rs 1.44 crore during the previous quarter ended March 2016. Sales declined 43.48% to Rs 2.86 crore in the quarter ended March 2017 as against Rs 5.06 crore during the previous quarter ended March 2016.

For the full year,net profit reported to Rs 0.43 crore in the year ended March 2017 as against net loss of Rs 0.85 crore during the previous year ended March 2016. Sales declined 19.55% to Rs 8.23 crore in the year ended March 2017 as against Rs 10.23 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales2.865.06 -43 8.2310.23 -20 OPM %23.7814.62 -1.34-0.59 - PBDT0.730.53 38 0.40-0.26 LP PBT0.530.32 66 -0.45-1.15 61 NP1.411.44 -2 0.43-0.85 LP

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M M Forgings fixes record date for dividend
May 19,2017

M M Forgings has fixed record date of 02 June 2017 for payment of dividend. The dividend will be paid on or before 15 June 2017.

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Sintex Industries fixes record date for Scheme of Arrangement
May 19,2017

Sintex Industries has fixed 26 May 2017 as the Record Date for the purpose of determination of entitlement for allotment equity shares as per the Composite Scheme of Arrangement.

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Cholamandalam Investment & Finance Company allots 4659 equity shares
May 19,2017

Cholamandalam Investment & Finance Company has allotted 4,659 equity shares of Rs.10/- each to the option grantees who have exercised their Stock Options.

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Board of Simplex Trading & Agencies considers change in registered office
May 19,2017

The Board of Directors of Simplex Trading & Agencies considered change in registered office of the Company from 3rd-1 Complex, Basement Office No.5, Cabin No. 2, Panchwati Circle, C.G. Road, Ahmedabad. Gujarat to A-1113, Siddhivinayak Complex, Makarba, Vejalpur, Ahmedabad -380051 with effect from 19 May 2017.

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Manaksia Steels reports standalone net profit of Rs 2.72 crore in the March 2017 quarter
May 19,2017

Net profit of Manaksia Steels reported to Rs 2.72 crore in the quarter ended March 2017 as against net loss of Rs 0.18 crore during the previous quarter ended March 2016. Sales rose 42.80% to Rs 111.61 crore in the quarter ended March 2017 as against Rs 78.16 crore during the previous quarter ended March 2016.

For the full year,net profit rose 80.32% to Rs 8.98 crore in the year ended March 2017 as against Rs 4.98 crore during the previous year ended March 2016. Sales rose 15.44% to Rs 334.01 crore in the year ended March 2017 as against Rs 289.33 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales111.6178.16 43 334.01289.33 15 OPM %7.231.52 -7.425.88 - PBDT6.280.47 1236 21.8915.71 39 PBT4.40-1.42 LP 14.308.22 74 NP2.72-0.18 LP 8.984.98 80

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S Kumars Online reports standalone net loss of Rs 0.07 crore in the March 2017 quarter
May 19,2017

Net Loss of S Kumars Online reported to Rs 0.07 crore in the quarter ended March 2017 as against net loss of Rs 0.21 crore during the previous quarter ended March 2016. Sales remain constant at Rs 0.13 crore in the quarter ended March 2017 and also during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 0.22 crore in the year ended March 2017 as against net loss of Rs 0.35 crore during the previous year ended March 2016. Sales rose 4.08% to Rs 0.51 crore in the year ended March 2017 as against Rs 0.49 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales0.130.13 0 0.510.49 4 OPM %-46.15-184.62 --25.49-61.22 - PBDT-0.05-0.19 74 -0.10-0.22 55 PBT-0.08-0.22 64 -0.22-0.35 37 NP-0.07-0.21 67 -0.22-0.35 37

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M M Forgings standalone net profit rises 16.23% in the March 2017 quarter
May 19,2017

Net profit of M M Forgings rose 16.23% to Rs 12.75 crore in the quarter ended March 2017 as against Rs 10.97 crore during the previous quarter ended March 2016. Sales declined 5.66% to Rs 115.56 crore in the quarter ended March 2017 as against Rs 122.49 crore during the previous quarter ended March 2016.

For the full year,net profit declined 13.32% to Rs 43.42 crore in the year ended March 2017 as against Rs 50.09 crore during the previous year ended March 2016. Sales declined 5.85% to Rs 460.43 crore in the year ended March 2017 as against Rs 489.06 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales115.56122.49 -6 460.43489.06 -6 OPM %20.4620.86 -20.1422.09 - PBDT23.5225.41 -7 94.07105.10 -10 PBT13.8416.60 -17 55.1469.29 -20 NP12.7510.97 16 43.4250.09 -13

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Kesar Enterprises reports standalone net profit of Rs 40.89 crore in the March 2017 quarter
May 19,2017

Net profit of Kesar Enterprises reported to Rs 40.89 crore in the quarter ended March 2017 as against net loss of Rs 1.43 crore during the previous quarter ended March 2016. Sales rose 157.34% to Rs 219.00 crore in the quarter ended March 2017 as against Rs 85.10 crore during the previous quarter ended March 2016.

For the full year,net profit reported to Rs 8.21 crore in the year ended March 2017 as against net loss of Rs 53.22 crore during the previous year ended March 2016. Sales rose 17.11% to Rs 372.97 crore in the year ended March 2017 as against Rs 318.48 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales219.0085.10 157 372.97318.48 17 OPM %24.7918.86 -17.235.57 - PBDT45.577.90 477 27.28-23.22 LP PBT40.892.74 1392 8.30-49.05 LP NP40.89-1.43 LP 8.21-53.22 LP

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K E C International consolidated net profit rises 90.50% in the March 2017 quarter
May 19,2017

Net profit of K E C International rose 90.50% to Rs 145.56 crore in the quarter ended March 2017 as against Rs 76.41 crore during the previous quarter ended March 2016. Sales rose 11.34% to Rs 2849.20 crore in the quarter ended March 2017 as against Rs 2558.93 crore during the previous quarter ended March 2016.

For the full year,net profit rose 106.11% to Rs 304.78 crore in the year ended March 2017 as against Rs 147.87 crore during the previous year ended March 2016. Sales rose 0.78% to Rs 8584.40 crore in the year ended March 2017 as against Rs 8517.80 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales2849.202558.93 11 8584.408517.80 1 OPM %10.579.11 -9.538.13 - PBDT248.86163.75 52 593.14423.20 40 PBT208.06120.18 73 463.45291.42 59 NP145.5676.41 90 304.78147.87 106

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