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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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DCB Bank tumbles after weak Q4 results
Apr 17,2017

The result was announced on Friday, 14 April 2017. The market was shut on Friday, 14 April 2017, on account of public holiday.

Meanwhile, the S&P BSE Sensex was down 2.24 points, or 0.01% to 29,459.21.

On the BSE, 2.63 lakh shares were traded in the counter so far, compared with average daily volumes of 3.07 lakh shares in the past one quarter. The stock had hit a high of Rs 174 and a low of Rs 167.60 so far during the day. The stock hit a record high of Rs 183.40 on 12 April 2017. The stock hit a 52-week low of Rs 87.40 on 24 May 2016.

The stock had outperformed the market over the past one month till 13 April 2017, rising 9.34% compared with 0.22% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 45% as against Sensexs 8.16% rise.

The mid-cap company has equity capital of Rs 285.36 crore. Face value per share is Rs 10.

DCB Banks net profit rose 2.65% to Rs 199.68 crore on 21.2% rise in total income to Rs 2325.60 crore in the year ended March 2017 over the year ended March 2016.

The banks gross non-performing assets (NPAs) stood at Rs 254.20 crore as on 31 March 2017 as against Rs 227.93 crore as on 30 December 2016 and Rs 197.38 crore as on 31 March 2016.

The ratio of gross NPAs to gross advances stood at 1.59% as on 31 March 2017 as against 1.55% as on 31 December 2016 and 1.51% as on 31 March 2016.

The ratio of net NPAs to net advances stood at 0.79% as on 31 March 2017 as against 0.74% as on 31 December 2016 and 0.75% as on 31 March 2016.

The banks provisions and contingencies (excluding tax provisions) rose 24.51% to Rs 33.93 crore in Q4 March 2017 over Q4 March 2016.

DCB Bank is a new generation private sector bank with 262 branches across 18 states and 2 union territories.

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US stocks drop for third consecutive day
Apr 17,2017

US stocks fell on Thursday, 13 April 2017 to close at session lows, cementing a three-day losing streak and a decline for the holiday-shortened week as investors dealt with the start of earnings season and intensifying geopolitical jitters. The U.S. dropping the largest nonnuclear weapon in its arsenal on a complex of caves in Afghanistan did little to encourage traders into a buying mood, with stocks extending losses after reports of the bombing mission.

The Dow Jones Industrial Average fell 138.61 points, or 0.7%, to close at its session low at 20,453.25. The Nasdaq Composite fell 31.01 points, or 0.5%, to close at a session low of 5,805.15. The S&P 500 index dropped 15.98 points, or 0.7%, to its session low of 2,328.95. For the week, the Dow fell 1%, the S&P 500 dropped 1.1%, and the Nasdaq fell 1.2%.

11 of the indexs sectors finished lower, with energy and financial stocks among the largest decliners. Shares of Chevron and Caterpillar led declines.

JPMorgan Chase, Citigroup and Wells Fargo kicked off the earnings season on Thursday morning with some better than expected results. All three companies beat earnings expectations. Wells Fargos revenue fell short of forecasts, and the bank remains stuck in the spotlight for its recent sales-practices scandal. In the end, the financial sector finished the day solidly lower, but it was not the worst performing sector.

In recent days, trading has also been marked by concerns over the crisis in Syria and heightened tensions between the U.S. and North Korea.

In the latest economic data, weekly first-time jobless claims fell slightly in the latest week, dropping to 234,000. Separately, the producer-price index fell 0.1% in March, though core PPIn++which excludes food, energy, and traden++was up 0.1%.

Separately, a preliminary reading of consumer sentiment from the University of Michigan also came in at a reading of 98 in April from 96.9 in March, better than Wall Street expectations.

Bullion prices ended higher at Comex on Thursday, 13 April 2017. Gold and silver prices notched their third straight session climb on Thursday, bolstered as the U.S. dollar fell.

June gold advanced by $10.40, or 0.8%, to settle at $1,288.50 an ounce, with prices ending at their highest level since Nov. 4. For the week, the yellow metal gained roughly 2.5%, based on last Fridays settlement. Silver for May delivery climbed 21 cents, or 1.2%, to $18.51 an ounce.

Those prices were pulled higher, while the U.S. dollar was pushed down against most rivals late Wednesday after President Trump reportedly told that the U.S. currency n++is getting too strongn++ and he would prefer the Federal Reserve to keep interest rates low. The dollar touched a five-month low against the yen. The ICE Dollar declined to a roughly two-week low after Trumps comment, though pared some of those losses by the time gold settled.

A weaker greenback tends to lift prices for dollar-denominated commodities as it makes them cheaper for holders of other currencies to buy.

Oil prices posted a slight gain on Thursday, 13 April 2017 at Nymex notching a third consecutive weekly advance, as traders continued to weigh the prospects and timing for a balance between supply and demand in the market.

On Thursday, data revealed that the number of active U.S. oil rigs has climbed for a 13th week in a row, feeding concerns over growth in domestic crude output.

Crude oil for May delivery rose 7 cents, or 0.1%, to settle at $53.18 a barrel on the New York Mercantile Exchange. It settled 1.8% above last Fridays finish. Brent for June added 3 cents, or less than 0.1%, to $55.89 a barreln++up about 1.2% for the week. Still, prices spent much of Thursday wavering between slight losses and gains.

Trading volumes were light on Thursday, in advance of market closures in observance of Good Friday, and ahead of Easter.

On Monday, participants will receive April Empire Manufacturing at 8:30 ET, the April NAHB Housing Price Index at 10:00 ET, and April Net Long-Term TIC Flows at 16:00 ET.

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Rs.236.66 Crores Loans Sanctioned To 65 SC Entrepreneurs Under Venture Capital Fund Scheme FOR SCS Till Date
Apr 17,2017

The scheme of Venture Capital Fund for Scheduled Castes was launched in 2014-15 with unique feature of higher level of loans from Rs.50 lakhs to Rs.15 crores for SC entrepreneurs. Till date Loans amounting to Rs.236.66 crores to 65 Scheduled Caste entrepreneurs has been sanctioned in different areas including Solar Energy, Water treatment plants, Food processing and Beverages, Hotel etc. In 9 projects, beneficiaries have started repayment and the Scheme is also having multiplying effect on other SC entrepreneurs.

So far as the Skill Development is concerned, Training is undertaken by all State Governments under the Scheduled Caste Sub Plan and by National Scheduled Caste Finance and Development Corporation (NSFDC), National Safai Karamcharis Finance and Development Corporation (NSKFDC) and National Backward Classes Finance and Development Corporation (NBCFDC) given to 1.5 lakh beneficiaries from 2014-15 to 2016-17. 48.42% got wage/self-employment.

Under Entrepreneurship, over 17 lakh people have benefitted from subsidy given for loan taken for economic activities in the last three years under Scheduled Caste Sub Plan. Over 8.12 lakh beneficiaries have been given loans by the Corporations for entrepreneurships in the last three years.

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Reliance Power gains after Q4 results
Apr 17,2017

The result was announced on Friday, 14 April 2017. The stock market was shut on Friday, 14 April 2017, on account of public holiday.

Meanwhile, the S&P BSE Sensex was down 39.44 points, or 0.13% to 29,422.01.

On the BSE, 5.35 lakh shares were traded in the counter so far, compared with average daily volumes of 64.56 lakh shares in the past one quarter. The stock had hit a high of Rs 48.60 and a low of Rs 47.20 so far during the day.

The stock hit a 52-week high of Rs 56.45 on 26 July 2016. The stock hit a 52-week low of Rs 38.20 on 24 November 2016.

The stock had outperformed the market over the past one month till 13 April 2017, rising 0.96% compared with 0.22% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 5.81% as against Sensexs 8.16% rise.

The large-cap company has equity capital of Rs 2805.13 crore. Face value per share is Rs 10.

The companys consolidated net profit rose 23.31% to Rs 1104.16 crore on 0.94% rise in net sales to Rs 10395.65 crore in the year ended March 2017 over the year ended March 2016.

Reliance Power on its own and through its subsidiaries has a large portfolio of power generation capacity, both in operation as well as capacity under development.

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Andhra Bank reviews MCLR rates
Apr 17,2017

Andhra Bank has reviewed the MCLR rates effective 15 April 2017 as under -

Overnight - 8.45%
One month - 8.50%
Three month - 8.55%
Six month - 8.60%
One year - 8.65%

Base rate and BMPLR are as follows -
Base Rate - 9.70%
BMPLR - 13.95%

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Bullions shine
Apr 17,2017

Bullion prices ended higher at Comex on Thursday, 13 April 2017. Gold and silver prices notched their third straight session climb on Thursday, bolstered as the U.S. dollar fell.

June gold advanced by $10.40, or 0.8%, to settle at $1,288.50 an ounce, with prices ending at their highest level since Nov. 4. For the week, the yellow metal gained roughly 2.5%, based on last Fridays settlement.

Silver for May delivery climbed 21 cents, or 1.2%, to $18.51 an ounce.

Those prices were pulled higher, while the U.S. dollar was pushed down against most rivals late Wednesday after President Trump reportedly told that the U.S. currency n++is getting too strongn++ and he would prefer the Federal Reserve to keep interest rates low. The dollar touched a five-month low against the yen. The ICE Dollar declined to a roughly two-week low after Trumps comment, though pared some of those losses by the time gold settled.

A weaker greenback tends to lift prices for dollar-denominated commodities as it makes them cheaper for holders of other currencies to buy.

In the latest economic data, weekly first-time jobless claims fell slightly in the latest week, dropping to 234,000. Separately, the producer-price index fell 0.1% in March, though core PPIn++which excludes food, energy, and traden++was up 0.1%.

Separately, a preliminary reading of consumer sentiment from the University of Michigan also came in at a reading of 98 in April from 96.9 in March, better than Wall Street expectations.

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Dr Reddys Lab advances as USFDA completes audit of plant
Apr 17,2017

The announcement was made on Friday, 14 April 2017. The market was shut on Friday, 14 April 2017, on account of public holiday.

Meanwhile, the S&P BSE Sensex was down 62.23 points or 0.21% at 29,399.22.

On the BSE, 30,000 shares were traded on the counter so far as against the average daily volumes of 43,992 shares in the past one quarter. The stock had hit a high of Rs 2,721.95 and a low of Rs 2,696.15 so far during the day.

The stock had hit a 52-week high of Rs 3,689 on 20 July 2016 and a 52-week low of Rs 2,560 on 22 March 2017. It had underperformed the market over the past one month till 13 April 2017, sliding 2.88% compared with the Sensexs 1.78% rise. The scrip had also underperformed the market over the past one quarter declining 11.45% as against the Sensexs 8.16% rise.

The large-cap company has equity capital of Rs 82.87 crore. Face value per share is Rs 5.

Dr Reddys Laboratories (DRL) announced that the audit of its API Srikakulam plant in Andhra Pradesh by the US Food and Drug Administration (USFDA) was completed on Friday, 14 April 2017, with no observations.

Dr Reddys Laboratories consolidated net profit fell 15.9% to Rs 492.30 crore on 6.6% fall in net sales to Rs 3706.50 crore in Q3 December 2016 over Q3 December 2015.

Dr Reddys Laboratories is an integrated global pharmaceutical company.

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Western India Shipyard allots shares and warrants to Bermaco Energy
Apr 17,2017

Western India Shipyard announced that the Share Allotment Committee approved the allotment of 9,25,00,000 equity shares of the Company to Bermaco Energy at face value of Rs. 2 (at par) each fully paid-up, for which the Company has received an amount of Rs.18.50 crore.

The Share Allotment Committee also approved the allotment of 3,25,00,000 warrants of the Company to Bermaco Energy at face value of Rs.2 (at par) each, aggregating to Rs.6.50 crore, convertible into equivalent number of equity shares within a period of 18 months, for which the Company has received an amount of Rs.1.62 crore, being 25% of the aggregate consideration towards the warrants. The shares issued and the shares arising on conversion of the warrants are subject to lock in of one year from the date of allotment of the shares. dated 31 March 2017 received from BSE.

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Bhansali Engineering Polymers fixes record date for final dividend
Apr 17,2017

Bhansali Engineering Polymers has fixed record date of 08 July 2017 for payment of final dividend.

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Board of Indiabulls Real Estate considers proposal for restructuring of business
Apr 17,2017

Indiabulls Real Estate announced that the Companys Board in its meeting on 17 April 2017 considered the possibility of streamlining its existing residential, commercial and leasing businesses by segregating commercial & leasing business carried on by itself and/or through its SPVs and vesting the same into Indiabulls Commercial Assets (ICAL) and restructuring/reorganizing its businesses by either (i) restructuring by way of placing ICAL as a separate holding co under the Company to hold its assets and investments relating to commercial & leasing business segment and to undertake the business & operations of commercial & leasing business segment and/or explore opportunities to bring in strategic investments; or (ii) by reorganizing its existing businesses by way of a demerger of the undertakings, business, activities & operations pertaining to its commercial & leasing business segments.

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Godrej Properties partners with Taj for luxury hotel in Vikhroli
Apr 17,2017

Godrej Properties has partnered with Taj Hotels Palaces Resorts Safaris to develop a world class Taj brand hotel at its flagship project, The Trees, in Vikhroli, Mumbai. The Taj at The Trees will offer approximately 150 guest rooms and suites along with world class dining, entertainment and conferencing facilities.

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Shares of Escorp Asset Management get listed
Apr 17,2017

The equity shares of Escorp Asset Management (Scrip Code: 540455) are listed effective 17 April 2017 and admitted to dealings on the Exchange in the list of M Group Securities

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Larsen & Toubro secures orders worth Rs 2694 crore
Apr 17,2017

The construction arm of Larsen & Toubro has secured orders worth Rs 2694 crore across various business segments.

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PSU OMCs in focus after fuel price hike
Apr 17,2017

Shares of public sector oil marketing companies (PSU OMCs) will be watched. Petrol price was increased by Rs 1.39 per litre while diesel was made expensive by Rs 1.04 per litre. The price of both fuels - petrol and diesel - exclude state levies - which means the actual increase in price will be more after taking into account local value-added tax (VAT) - and took effect from the midnight of 15 April and 15 April 2017.

Dr Reddys Laboratories announced that the audit of its API Srikakulam plant in Andhra Pradesh by the US Food and Drug Administration (USFDA) was completed on Friday, 14 April 2017, with no observations. The announcement was made on Friday, 14 April 2017. The market was shut on Friday, 14 April 2017, on account of public holiday.

Godrej Properties (GPL) announced that it has partnered with Taj Hotels Palaces Resorts Safaris to develop a Taj brand hotel at its flagship project, The Trees, in Vikhroli, Mumbai. The Taj at The Trees will offer approximately 150 guest rooms and suites along with dining, entertainment, and conferencing facilities. The announcement was made before trading hours today, 17 April 2017.

Aban Offshore said that Shema Renny Abraham, one of the companys promoters, sold 25,000 shares, or 0.04% equity, in the open market on 12 April 2017. Shema Renny Abraham now holds 3.90 lakh shares, or 0.67% equity, of Aban Offshore. The announcement was made after market hours on Thursday, 13 April 2017.

Net profit of Reliance Industrial Infrastructure rose 140.13% to Rs 7.30 crore on 4.70% rise in net sales to Rs 23.84 crore in Q4 March 2017 over Q4 March 2016. The result was announced on Friday, 14 April 2017. The market was shut on Friday, 14 April 2017, on account of public holiday.

On a consolidated basis, net profit of Reliance Power rose 250.77% to Rs 215.90 crore on 0.10% decline in net sales to Rs 2466.49 crore in Q4 March 2017 over Q4 March 2016. The result was announced on Friday, 14 April 2017. The market was shut on Friday, 14 April 2017, on account of public holiday.

Net profit of Bajaj Corp declined 2.93% to Rs 52.67 crore on 1.94% decline in net sales to Rs 204.21 crore in Q4 March 2017 over Q4 March 2016. The result was announced at the fag end of the trading session on Thursday, 13 April 2017. The market was shut on Friday, 14 April 2017, on account of public holiday.

Net profit of DCB Bank declined 23.98% to Rs 52.86 crore on 20.2% increase in operating income to Rs 612.64 crore in Q4 March 2017 over Q4 March 2016. The result was announced on Friday, 14 April 2017. The market was shut on Friday, 14 April 2017, on account of public holiday.

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DCB Bank standalone net profit declines 23.98% in the March 2017 quarter
Apr 15,2017

Net profit of DCB Bank declined 23.98% to Rs 52.86 crore in the quarter ended March 2017 as against Rs 69.53 crore during the previous quarter ended March 2016. Total Operating Income rose 22.53% to Rs 549.05 crore in the quarter ended March 2017 as against Rs 448.11 crore during the previous quarter ended March 2016.

For the full year,net profit rose 2.65% to Rs 199.68 crore in the year ended March 2017 as against Rs 194.52 crore during the previous year ended March 2016. Total Operating Income rose 22.24% to Rs 2076.15 crore in the year ended March 2017 as against Rs 1698.46 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Total Operating Income549.05448.11 23 2076.151698.46 22 OPM %63.1364.21 -64.3765.92 - PBDT81.4169.76 17 306.72261.12 17 PBT81.4169.76 17 306.72261.12 17 NP52.8669.53 -24 199.68194.52 3

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