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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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Shilpi Cable Technologies announces cessation of director
Feb 13,2017

Shilpi Cable Technologies announced that pursuant to provisions of section 167(1)(b) of the Companies Act, 2013, the office of Hans Das Maheshwari, Nominee Director (appointed by IDBI Bank) of the Company has become vacant w.e.f. 11 February 2017. Hence, he ceases to be the director of the Company.

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Asian Hotels (North) announces resignation of director
Feb 13,2017

Asian Hotels (North) announced Gautam Ramanlal Divan, an Independent Non-executive Director of the Company resigned from the said office vide letter dated 10 February 2017. The resignation takes effect on 13 February 2017, being the date of receipt of the aforesaid letter by the Company.

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Shri Aster Silicates announces resignation of director
Feb 13,2017

Shri Aster Silicates announced that Dushyant Manibhai Buch has resigned as Independent director and all committee members of the Company w.e.f. 13 February 2017.

The board has approved his resignation in its board meeting dated 13 February 2017.

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Board of MEP Infrastructure Developers declares interim dividend
Feb 13,2017

MEP Infrastructure Developers announced the Board of Directors of the Company at its meeting held on 13 February 2017, inter alia, had:

- Declared an Interim Dividend of Re. 0.10 per equity share of Rs. 10/- each of the Company.

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MEP Infrastructure Developers fixes record date for interim dividend
Feb 13,2017

MEP Infrastructure Developers announced that the Company has fixed 25 February 2017 as the Record Date for the purpose of Payment of Interim Dividend.

Interim Dividend will be paid/ dispatched to the equity shareholders of the Company on or before 15 March 2017.

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Board of SJVN declares interim dividend of Rs 2.25 per share
Feb 13,2017

SJVN announced that the Board of Directors of the Company at its meeting held on 13 February 2017, inter alia, have approved interim dividend of Rs. 2.25 per equity share for the Financial Year 2016-17.

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CPI inflation dips to 3.2% in January 2017
Feb 13,2017

The all-India general CPI inflation dipped to 3.17% in January 2017 (new base 2012=100), compared with 3.41% in December 2016. The CPI inflation in January 2017 has touched a lowest level for CPI inflation data with base 2012 available since January 2014.

The corresponding provisional inflation rate for rural area was 3.36% and urban area 2.90% in January 2017 as against 3.83% and 2.90% in December 2016. The core CPI inflation rose to 5.00% in January 2017 from 4.83% in December 2016. The cumulative CPI inflation was slightly up at 4.85% in April-January FY2017 compared with 4.79% in April- January FY2016.

Among the CPI components, inflation of food and beverages declined to 1.29% in January 2017 from 1.98% in December 2016 contributing to the fall in CPI inflation. Within the food items, the inflation eased for pulses and products to (-) 6.62%, meat and fish 2.98%, vegetables (-) 15.62%, spices 5.04% and sugar and confectionery 18.69%. The inflation also eased for egg 2.64%, milk and products to 4.23% and non-alcoholic beverages 3.10%. On the other hand, inflation moved up for oils and fats 3.12% and fruits 5.81% in January 2017.

The inflation for housing was nearly flat at 5.02%, while that for miscellaneous items moved up to 5.06% in January 2017. Within the miscellaneous items, the inflation for Transport and communication jumped to 5.40%, and Education 5.62%, while inflation declined for personal care and effects to 6.29%, household goods and services 4.19% and health 4.18% in January 2017.

The inflation for clothing and footwear eased to 4.71% in January 2017, while the CPI inflation of fuel and light also declined to 3.42% in January 2017.

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Board of Control Print appoints company secretary
Feb 13,2017

Control Print announced that at the meeting of the Board of Directors of the Company held on 13 February 2017, the Board of Directors had approved appointment of Reena Shah, an Associate Member of the Institute of Company Secretaries of India as the Company Secretary of the Company and designated her as Key Managerial Personnel of the Company w.e.f. 13 February 2017.

Further, Reena Shah, will also act as Compliance Officer of the Company, pursuant to Regulation 6 of SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015 w.e.f 13 February 2017.

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Ruchi Soya Industries partners with Patanjali Ayurveda
Feb 13,2017

Ruchi Soya Industries announced the signing of agreements with Patanjali Ayurved for physical refining and packaging of edible oils to be sold under Patanjali brand. Under the terms of the agreements, Ruchi Soya would process the crude oil provided by Patanjali Ayurved and pack the refined oil as per their specifications. The agreements are for an initial period of three years.

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Tata Communications and ST Telemedia complete Singapore data centre JV transaction
Feb 13,2017

Tata Communications announced the successful completion of the Singapore data centre joint venture transaction with ST Telemedia (STT), a global investor in communications, media and technology businesses.

In May 2016, both companies announced their entry into definitive agreements whereby STT, through its wholly owned subsidiary, ST Telemedia Global Data Centres (STT GDC), agreed to acquire a 74% majority stake in Tata Communications data centre business in India andSingapore, with Tata Communications holding the remaining stake as a minority shareholder. The India data centre joint venture transaction was successfully completed on 19 October 2016.

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KNR Constructions standalone net profit declines 9.98% in the December 2016 quarter
Feb 13,2017

Net profit of KNR Constructions declined 9.98% to Rs 30.67 crore in the quarter ended December 2016 as against Rs 34.07 crore during the previous quarter ended December 2015. Sales rose 87.01% to Rs 380.55 crore in the quarter ended December 2016 as against Rs 203.49 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales380.55203.49 87 OPM %15.1622.94 - PBDT61.2747.32 29 PBT44.6836.71 22 NP30.6734.07 -10

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Indian Terrain Fashions standalone net profit declines 37.90% in the December 2016 quarter
Feb 13,2017

Net profit of Indian Terrain Fashions declined 37.90% to Rs 5.62 crore in the quarter ended December 2016 as against Rs 9.05 crore during the previous quarter ended December 2015. Sales rose 23.78% to Rs 94.27 crore in the quarter ended December 2016 as against Rs 76.16 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales94.2776.16 24 OPM %11.4114.08 - PBDT9.399.75 -4 PBT8.609.05 -5 NP5.629.05 -38

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Bang Overseas standalone net profit rises 784.00% in the December 2016 quarter
Feb 13,2017

Net profit of Bang Overseas rose 784.00% to Rs 2.21 crore in the quarter ended December 2016 as against Rs 0.25 crore during the previous quarter ended December 2015. Sales declined 5.46% to Rs 36.87 crore in the quarter ended December 2016 as against Rs 39.00 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales36.8739.00 -5 OPM %7.623.54 - PBDT2.700.76 255 PBT2.210.25 784 NP2.210.25 784

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Metkore Alloys & Industries reports standalone net loss of Rs 3.41 crore in the December 2016 quarter
Feb 13,2017

Net Loss of Metkore Alloys & Industries reported to Rs 3.41 crore in the quarter ended December 2016 as against net loss of Rs 3.07 crore during the previous quarter ended December 2015. Sales rose 223.36% to Rs 3.46 crore in the quarter ended December 2016 as against Rs 1.07 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales3.461.07 223 OPM %-89.60-257.94 - PBDT-3.15-2.78 -13 PBT-3.41-3.07 -11 NP-3.41-3.07 -11

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Voltamp Transformers standalone net profit rises 32.09% in the December 2016 quarter
Feb 13,2017

Net profit of Voltamp Transformers rose 32.09% to Rs 15.27 crore in the quarter ended December 2016 as against Rs 11.56 crore during the previous quarter ended December 2015. Sales declined 24.55% to Rs 105.27 crore in the quarter ended December 2016 as against Rs 139.53 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales105.27139.53 -25 OPM %9.487.99 - PBDT20.6617.35 19 PBT19.1515.86 21 NP15.2711.56 32

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