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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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Bluechip Tex Industries standalone net profit declines 4.71% in the September 2016 quarter
Nov 24,2016

Net profit of Bluechip Tex Industries declined 4.71% to Rs 0.81 crore in the quarter ended September 2016 as against Rs 0.85 crore during the previous quarter ended September 2015. Sales rose 6.98% to Rs 37.39 crore in the quarter ended September 2016 as against Rs 34.95 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales37.3934.95 7 OPM %5.304.58 - PBDT1.551.47 5 PBT1.231.15 7 NP0.810.85 -5

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Samyak International standalone net profit declines 33.33% in the September 2016 quarter
Nov 24,2016

Net profit of Samyak International declined 33.33% to Rs 0.02 crore in the quarter ended September 2016 as against Rs 0.03 crore during the previous quarter ended September 2015. Sales rose 24.94% to Rs 5.06 crore in the quarter ended September 2016 as against Rs 4.05 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales5.064.05 25 OPM %0.790.99 - PBDT0.040.04 0 PBT0.020.03 -33 NP0.020.03 -33

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Orient Green Power Company reports standalone net loss of Rs 14.62 crore in the September 2016 quarter
Nov 24,2016

Net Loss of Orient Green Power Company reported to Rs 14.62 crore in the quarter ended September 2016 as against net loss of Rs 51.03 crore during the previous quarter ended September 2015. Sales declined 70.42% to Rs 0.21 crore in the quarter ended September 2016 as against Rs 0.71 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales0.210.71 -70 OPM %-3185.71-1792.96 - PBDT-9.56-14.84 36 PBT-13.04-18.53 30 NP-14.62-51.03 71

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Samyak International reports consolidated net profit of Rs 0.04 crore in the September 2016 quarter
Nov 24,2016

Net profit of Samyak International remain constant at Rs 0.04 crore in the quarter ended September 2016 and also during the previous quarter ended September 2015. Sales rose 4.43% to Rs 5.66 crore in the quarter ended September 2016 as against Rs 5.42 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales5.665.42 4 OPM %1.411.29 - PBDT0.080.07 14 PBT0.040.04 0 NP0.040.04 0

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Orient Green Power Company reports consolidated net profit of Rs 82.88 crore in the September 2016 quarter
Nov 24,2016

Net profit of Orient Green Power Company reported to Rs 82.88 crore in the quarter ended September 2016 as against net loss of Rs 21.32 crore during the previous quarter ended September 2015. Sales rose 11.62% to Rs 154.81 crore in the quarter ended September 2016 as against Rs 138.69 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales154.81138.69 12 OPM %90.2584.22 - PBDT80.1650.13 60 PBT38.486.39 502 NP82.88-21.32 LP

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Use of Alternate Material for Construction of National Highway
Nov 24,2016

The Ministry of Road Transport and highways encourages the use of alternative materials like waste plastic, rubber/polymer modified bitumen for National Highways construction, Municipal Solid Waste (MSW), fly ash and blast furnace slag etc. It is default mode to use waste plastic modified bitumen in periodical renewals on National Highways within 50 km periphery of urban areas having population more than five lakhs. Polymer/rubber modified bitumen is used for surfacing on National Highways subject to its availability and performance.

Solid waste is planned to be used on Delhi-Meerut Expressway after due processing and necessary clearances. Preliminary study was carried by the National Highways Authority of India (NHAI) through Central Road Research Institute (CRRI) at Ghazipur Dump Yard, East Delhi. The report submitted by CRRI found that suitable material from MSW can be processed for its use in construction of embankment..

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Rupee sags to touch record low
Nov 24,2016

Rupee closed lower at 68.7179/7330 per dollar on Thursday (24 November 2016), versus its previous close of 68.56/57 per dollar.

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CSIR Laboratories Instructed to Avoid Filing of Patents Without Appropriate Techno-Commercial Evaluation
Nov 24,2016

Council of Scientific and Industrial Research (CSIR) has sent out a message to all its laboratories to avoid filing of patents without appropriate techno-commercial evaluation.

In order to align the IP strategy of CSIR with the priorities of socio-economic development including escalating costs of patent filings, this message was sent to exercise utmost due diligence in filing of patents.

CSIR has taken following steps to put in place an appropriate system:

(i) Establishment of IP Directorate at CSIR to analyze IP (Intellectual Property) life cycle from generation to exploitation.

(ii) Preparation of standard operating procedures (SOP) and guidelines for evaluation of inventions in alignment with National IPR Policy.

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Prism Cement to hold board meeting
Nov 24,2016

The board meeting of Prism Cement will be held on 30 November 2016, to consider raising of funds through issue of Secured, Non-convertible Debentures on private placement basis.

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Sai Capital to hold board meeting
Nov 24,2016

The board meeting of Sai Capital will be held on 25 November 2016, to consider & approve change in Registered Office of the Company & issue of reminder to Share-Holders holding Partly-Paid Shares to deposit pending Allotment money.

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Khemani Distributors & Marketing to hold board meeting
Nov 24,2016

Khemani Distributors & Marketing has announced that the board meeting of the company will be held on 06 December 2016, to consider and approve sub-division of 1 (one) equity shares of face value of Rs. 10/- each into 2 (two) equity shares of face value of Rs. 5/- each, and to approve consequent amendment of Memorandum of Association of the Company.

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Ashoka Buildcon to hold board meeting
Nov 24,2016

Ashoka Buildcon will hold a board meeting on 02nd December 2016 to consider and approve the Unaudited Standalone Financial Results of the Company for the quarter and half year ended September 30, 2016.

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Requisite Technology Developed for Rice Fortification with Iron for addressing incidence of Anaemia
Nov 24,2016

The Department of Biotechnology (DBT) through R&D support to IIT, Kharagpur has developed the requisite technology on the fortification with Iron for addressing the incidence of anaemia. This involves production of Iron fortified rice premix through extrusion process using broken rice kernels. This iron fortified rice kernel premix matches with the normal rice kernel in shape and size, and when mixed with normal rice in the ratio of 1:100 provides 50% of recommended daily allowance (RDA) of Iron. This technology can also be used to fortify rice with other micro nutrients, as well. The incremental cost of fortification has been estimated by IIT-Kharagpur to be upto 80 paise per kg of rice.

The steps taken by Government to take forward the rice fortification model to all parts of the country to deal with nutritional deficiency among the women and children is as follows:

A Pilot Scale Unit with a capacity of 100 kg/hr/shift has been commissioned at IIT-Kharagpur. The technology is ready for demonstration and transfer to prospective entrepreneurs. The same can be commercialized. However, for introduction in the Govt programmes such as Mid-day Meal Scheme and ICDS to address micro nutrient deficiencies in children, DBT would be willing to set up pilot scale production unit in States who would be interested. Accordingly, an MoU could be executed between DBT and the respective State Government Departments. This technology was also deliberated in the n++National Summit on Fortification of Foodn++ which was an Inter Ministerial meeting convened by FSSAI on 16th and 17th October, 2016, which was attended by State and Central Government officials, Industry representatives and academia. Further, DBTs proposal on the above issue has also been shortlisted in the Inter State Council Secretariat for the Eastern Zonal States - Bihar, Jharkhand, Odisha, West Bengal under their social outreach programme.

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Wipro grants Restricted Stock Units
Nov 24,2016

Wipro with effect from 01st November 2016 has granted 5,000 Restricted Stock Units under Restricted Stock Unit Plan 2007.

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Wipro completes acquisition of Appirio
Nov 24,2016

Wipro has announced that it had completed the acquisition of Appirio on 23 November 2016.

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