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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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Lupin intimates of successful PAI USFDA inspection of Goa facility
Jul 21,2017

Lupin announced the successful completion of a PAI inspection (Prior Approval Inspection) carried out by the USFDA at its Goa manufacturing facility without any observations. The inspection which started on 17 July 2017 concluded on 21 July 2017.

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Insilco continues with shutdown of plant
Jul 21,2017

Insilco announced that the Plant will continue to remain shut down till 28 July 2017 due to high inventory & low sales volume and will restart on 29 July 2017.

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Water storage level of 91 major reservoirs of the country goes up by five per cent
Jul 21,2017

The water storage available in 91 major reservoirs of the country for the week ending on July 20, 2017 was 43.732 BCM, which is 28% of total storage capacity of these reservoirs. This percentage was at 23 for the week ending on July 13, 2017. The level of July 20, 2017 was 81% of the storage of corresponding period of last year and 86% of storage of average of last ten years.

The total storage capacity of these 91 reservoirs is 157.799 BCM which is about 62% of the total storage capacity of 253.388 BCM which is estimated to have been created in the country. 37 Reservoirs out of these 91 have hydropower benefit with installed capacity of more than 60 MW.

REGION WISE STORAGE STATUS:-

NORTHERN REGION

The northern region includes States of Himachal Pradesh, Punjab and Rajasthan. There are six reservoirs under Central Water Commission (CWC) monitoring having total live storage capacity of 18.01 BCM. The total live storage available in these reservoirs is 7.94 BCM which is 44% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 33% and average storage of last ten years during corresponding period was 41% of live storage capacity of these reservoirs. Thus, storage during current year is better than the corresponding period of last year and is also better than the average storage of last ten years during the corresponding period.

EASTERN REGION

The Eastern region includes States of Jharkhand, Odisha, West Bengal and Tripura. There are 15 reservoirs under CWC monitoring having total live storage capacity of 18.83 BCM. The total live storage available in these reservoirs is 4.75 BCM which is 25% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 26% and average storage of last ten years during corresponding period was 26% of live storage capacity of these reservoirs. Thus, storage during current year is less than the corresponding period of last year and is also less than the average storage of last ten years during the corresponding period.

WESTERN REGION

The Western region includes States of Gujarat and Maharashtra. There are 27 reservoirs under CWC monitoring having total live storage capacity of 27.07 BCM. The total live storage available in these reservoirs is 8.53 BCM which is 31% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 31% and average storage of last ten years during corresponding period was 32% of live storage capacity of these reservoirs. Thus, storage during current year is equal to the storage of last year but is less than the average storage of last ten years during the corresponding period.

CENTRAL REGION

The Central region includes States of Uttar Pradesh, Uttarakhand, Madhya Pradesh and Chhattisgarh. There are 12 reservoirs under CWC monitoring having total live storage capacity of 42.30 BCM. The total live storage available in these reservoirs is 13.88 BCM which is 33% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 48% and average storage of last ten years during corresponding period was 28% of live storage capacity of these reservoirs. Thus, storage during current year is less than the storage of last year but is better than the average storage of last ten years during the corresponding period.

SOUTHERN REGION

The Southern region includes States of Andhra Pradesh, Telangana, AP&TG(Two combined projects in both states) Karnataka, Kerala and Tamil Nadu. There are 31 reservoirs under CWC monitoring having total live storage capacity of 51.59 BCM. The total live storage available in these reservoirs is 8.64 BCM which is 17 % of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 28% and average storage of last ten years during corresponding period was 35% of live storage capacity of these reservoirs. Thus, storage during current year is less than the corresponding period of last year and is also less than the average storage of last ten years during the corresponding period.

States having better storage than last year for corresponding period are Himachal Pradesh, Punjab, West Bengal, Tripura, Gujarat, Maharashtra, Uttar Pradesh and Chhattisgarh. States having lesser storage than last year for corresponding period are Rajasthan, Jharkhand, Odisha, Uttarakhand, Madhya Pradesh, AP&TG (Two combined projects in both states), Andhra Pradesh, Telangana Karnataka, Kerala, and Tamil Nadu.

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Coffee Day Enterprises provides update on subsidiaries
Jul 21,2017

Coffee Day Enterprises announced that step-down subsidiary of the Company Way2wealth Securities has divested 47,499 [95.00 %] shares in its subsidiary Way2wealth Reality Advisors.

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Comfort Commotrade announces resignation of director
Jul 21,2017

Comfort Commotrade announced that Himisha Patel has resigned from the post of Company Secretary & Compliance Officer of the Company with effect from 21 July 2017.

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Persistent Systems consolidated net profit rises 2.46% in the June 2017 quarter
Jul 21,2017

Net profit of Persistent Systems rose 2.46% to Rs 75.09 crore in the quarter ended June 2017 as against Rs 73.29 crore during the previous quarter ended June 2016. Sales rose 3.74% to Rs 728.02 crore in the quarter ended June 2017 as against Rs 701.78 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales728.02701.78 4 OPM %14.3315.07 - PBDT141.13131.08 8 PBT101.9496.80 5 NP75.0973.29 2

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Persistent Systems standalone net profit declines 5.72% in the June 2017 quarter
Jul 21,2017

Net profit of Persistent Systems declined 5.72% to Rs 75.11 crore in the quarter ended June 2017 as against Rs 79.67 crore during the previous quarter ended June 2016. Sales rose 2.38% to Rs 427.24 crore in the quarter ended June 2017 as against Rs 417.30 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales427.24417.30 2 OPM %18.9022.71 - PBDT118.34119.53 -1 PBT103.07104.09 -1 NP75.1179.67 -6

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Aurum Soft Systems reports standalone nil net profit/loss in the June 2017 quarter
Jul 21,2017

Aurum Soft Systems reported no net profit/loss in the quarter ended June 2017 as against net profit of Rs 0.04 crore during the previous quarter ended June 2016. There were no Sales reported in the quarter ended June 2017 as against Rs 1.64 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales01.64 -100 OPM %01.83 - PBDT00.08 -100 PBT00.08 -100 NP00.04 -100

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Onward Technologies standalone net profit declines 26.88% in the June 2017 quarter
Jul 21,2017

Net profit of Onward Technologies declined 26.88% to Rs 0.68 crore in the quarter ended June 2017 as against Rs 0.93 crore during the previous quarter ended June 2016. Sales rose 21.79% to Rs 27.00 crore in the quarter ended June 2017 as against Rs 22.17 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales27.0022.17 22 OPM %7.6311.01 - PBDT1.922.26 -15 PBT0.821.42 -42 NP0.680.93 -27

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Duke Offshore standalone net profit declines 83.72% in the June 2017 quarter
Jul 21,2017

Net profit of Duke Offshore declined 83.72% to Rs 0.07 crore in the quarter ended June 2017 as against Rs 0.43 crore during the previous quarter ended June 2016. Sales rose 44.03% to Rs 1.93 crore in the quarter ended June 2017 as against Rs 1.34 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales1.931.34 44 OPM %44.0448.51 - PBDT0.570.72 -21 PBT0.070.43 -84 NP0.070.43 -84

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Uttam Value Steels reports standalone net loss of Rs 79.17 crore in the June 2017 quarter
Jul 21,2017

Net Loss of Uttam Value Steels reported to Rs 79.17 crore in the quarter ended June 2017 as against net loss of Rs 106.80 crore during the previous quarter ended June 2016. Sales declined 19.55% to Rs 723.23 crore in the quarter ended June 2017 as against Rs 899.03 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales723.23899.03 -20 OPM %0.44-1.72 - PBDT-42.92-70.58 39 PBT-79.17-106.80 26 NP-79.17-106.80 26

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Keltech Energies standalone net profit rises 139.25% in the June 2017 quarter
Jul 21,2017

Net profit of Keltech Energies rose 139.25% to Rs 2.56 crore in the quarter ended June 2017 as against Rs 1.07 crore during the previous quarter ended June 2016. Sales rose 15.49% to Rs 53.76 crore in the quarter ended June 2017 as against Rs 46.55 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales53.7646.55 15 OPM %10.627.00 - PBDT5.062.57 97 PBT3.831.59 141 NP2.561.07 139

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Meera Industries fixes record date for dividend
Jul 21,2017

Meera Industries has fixed 14 August 2017 as record date for dividend.

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Karnataka Bank targets export credit business of Rs 2500 cr
Jul 21,2017

Karnataka Bank aims to achieve export credit target of Rs 2500 crore in FY 2017-18.

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Ramco Systems allots 12,489 equity shares
Jul 21,2017

Ramco Systems has allotted 12,489 equity shares of Rs.10/- each under ESOP. Consequent to this, the paid up equity share capital has increased from 3,04,35,058 equity shares of Rs. 10/- each to 3,04,47,547 equity shares of Rs. 10/- each.

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