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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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China Stocks fall on profit booking, softer PPI data
Apr 12,2017

The Mainland China equity market closed lower on Wednesday, 12 April 2017, as investors elected to book recent gains after softer producer inflation data raised questions on the sustainability of the countrys economic recovery and some shares that had rallied on plans for a new economic zone lost steam. The Shanghai Composite Index dropped 0.5% to 3,273.8 while the CSI 300, which tracks large companies listed in Shanghai and Shenzhen, was down 0.2 cent to 3,509.4. The Shenzhen Component index lost 0.6% to 10,587.3 while the Nasdaq-style ChiNext was down 1.1% to 1,897.5.

Chinas producer price inflation (PPI) cooled for the first time in seven months in March as iron ore and coal prices tumbled, pressured by fears that the countrys steel production is outweighing demand and threatening a glut of the metal this year. The Producer Price Index, which measures costs for goods at the factory gate, rose 7.6%, 0.2 percentage points slower than Februarys 7.8%, which was a eight-year record.Meanwhile, consumer inflation warmed up slightly in March. The Consumer Price Index, a main gauge of inflation, rose 0.9% year on year in March, 0.1 percentage points higher than February, the National Bureau of Statistics said today.

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Hong Kong Stocks gain as concerns over North Korea abate
Apr 12,2017

The Hong Kong stock market closed session higher after recouping losses during late afternoon trade on Wednesday, 12 April 2017, on easing concerns about geopolitical tensions in North Korea after Chinas President reportedly called for a peaceful resolution of the North Korean security crisis in a phone call to his American counterpart Donald Trump on Wednesday. The benchmark index opened down 19 points at 24,068. It fell as much as 94 points to an intra-day low of 23,994. But buying orders of market heavyweights help push the market higher in afternoon session. The Hang Seng Index ended up 225 points or 0.9% to 24,313. The H-share index rose 42 points or 0.4% to 10,208. Turnover decreased to HK$71.8 billion from HK$76.8 billion on Tuesday.

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KDDL announces ratings assigned to line of credit of Ethos (subsidiary)
Apr 12,2017

KDDL announced that ICRA has assigned the credit rating of Ethos, a subsidiary of KDDL for long term rating of ICRA BBB, with a stable outlook and short term rating of ICRA A3+ to the line of credit of Rs 60 crore.

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JSW Steel allots fixed rate senior secured notes
Apr 12,2017

JSW Steel has raised USD 500 million by allotment of fixed rate senior secured notes. The notes will be listed on Singapore Exchange Securities Trading.

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Yash Papers to hold board meeting
Apr 12,2017

Yash Papers will hold a meeting of the Board of Directors of the Company on 27 May 2017, to consider and take on record the Audited Financial Results of the Company for the 4th quarter and year ended 31st March 2017.

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Clutch Auto seeks resolution from NCLT, Delhi
Apr 12,2017

Clutch Auto has approached National Company Law Tribunal, Delhi seeking revival/resolution of the Company pursuant to repeal of the Board of Financial and Industrial Reconstruction (BIFR).

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NLC India announces appointment of director
Apr 12,2017

NLC India announced that pursuant to 21/9/2013-ASO(part II) dated 29 March 2017 of Ministry of Coal, Government of India, Vikram Kapur, Principal Secretary to Government of Tamilnadu, Energy Department, has been appointed as a Part-time Official Director of the Company with effect from 29 March 2017.

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Board of Saksoft appoints company secretary
Apr 12,2017

The Board of Directors of Saksoft at its meeting on 12 April 2017 has appointed S.Muthukrishnan as Company Secretary and Compliance Officer of the Company with effect from 10 April 2017

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Medicamen Biotech announces change in directorate
Apr 12,2017

Medicamen Biotech has appointed Prakash as whole Time Director of the Company and taken note of resignation filed by Ashok Babu Jha.

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Rupee retreats
Apr 12,2017

Rupee closed lower at 64.7650/7800 per dollar on Wednesday (12 April 2017), versus its previous close of 64.6300/6450 per dollar.

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India E-Commerce shifts registered office
Apr 12,2017

India E-Commerce has shifted its registered office to F-606/607, 6th Floor, Crystal Plaza Premises CHS Limited, New Link Road, Andheri West, Mumbai w.e.f. 12 April 2017

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Prime Securities reports standalone net loss of Rs 7.93 crore in the March 2017 quarter
Apr 12,2017

Net loss of Prime Securities reported to Rs 7.93 crore in the quarter ended March 2017 as against net profit of Rs 5.68 crore during the previous quarter ended March 2016. Sales declined 98.26% to Rs 0.10 crore in the quarter ended March 2017 as against Rs 5.75 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 1.56 crore in the year ended March 2017 as against net profit of Rs 14.05 crore during the previous year ended March 2016. Sales declined 55.52% to Rs 4.63 crore in the year ended March 2017 as against Rs 10.41 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales0.105.75 -98 4.6310.41 -56 OPM %-1410.0075.65 -25.4961.58 - PBDT-1.334.78 PL 3.315.36 -38 PBT-1.364.72 PL 3.184.73 -33 NP-7.935.68 PL -1.5614.05 PL

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Prime Securities consolidated net profit declines 62.72% in the March 2017 quarter
Apr 12,2017

Net profit of Prime Securities declined 62.72% to Rs 2.52 crore in the quarter ended March 2017 as against Rs 6.76 crore during the previous quarter ended March 2016. Sales rose 26.96% to Rs 7.30 crore in the quarter ended March 2017 as against Rs 5.75 crore during the previous quarter ended March 2016.

For the full year,net profit rose 41.69% to Rs 20.12 crore in the year ended March 2017 as against Rs 14.20 crore during the previous year ended March 2016. Sales rose 62.92% to Rs 16.96 crore in the year ended March 2017 as against Rs 10.41 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales7.305.75 27 16.9610.41 63 OPM %73.8472.52 -77.0657.35 - PBDT5.718.12 -30 15.677.46 110 PBT5.688.00 -29 15.546.61 135 NP2.526.76 -63 20.1214.20 42

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Reliance Defence & Engineering reports standalone net loss of Rs 139.92 crore in the March 2017 quarter
Apr 12,2017

Net loss of Reliance Defence & Engineering reported to Rs 139.92 crore in the quarter ended March 2017 as against net profit of Rs 102.44 crore during the previous quarter ended March 2016. Sales rose 140.57% to Rs 227.89 crore in the quarter ended March 2017 as against Rs 94.73 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 523.43 crore in the year ended March 2017 as against net loss of Rs 528.65 crore during the previous year ended March 2016. Sales rose 69.38% to Rs 518.75 crore in the year ended March 2017 as against Rs 306.26 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales227.8994.73 141 518.75306.26 69 OPM %2.20-13.18 -4.31-51.34 - PBDT-136.31-116.41 -17 -505.58-589.32 14 PBT-185.52-169.70 -9 -706.23-803.58 12 NP-139.92102.44 PL -523.43-528.65 1

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Piramal Phytocare reports standalone net loss of Rs 0.33 crore in the March 2017 quarter
Apr 12,2017

Net Loss of Piramal Phytocare reported to Rs 0.33 crore in the quarter ended March 2017 as against net loss of Rs 1.47 crore during the previous quarter ended March 2016. Sales rose 15.19% to Rs 0.91 crore in the quarter ended March 2017 as against Rs 0.79 crore during the previous quarter ended March 2016.

For the full year,net profit reported to Rs 0.19 crore in the year ended March 2017 as against net loss of Rs 3.24 crore during the previous year ended March 2016. Sales declined 34.65% to Rs 4.13 crore in the year ended March 2017 as against Rs 6.32 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales0.910.79 15 4.136.32 -35 OPM %-46.15-53.16 --1.4517.88 - PBDT-0.32-0.31 -3 0.231.39 -83 PBT-0.33-1.47 78 0.19-3.24 LP NP-0.33-1.47 78 0.19-3.24 LP

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