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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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Kapil Cotex to hold board meeting
May 16,2017

Kapil Cotex will hold a meeting of the Board of Directors of the Company on 31 May 2017.

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Interworld Digital to hold board meeting
May 16,2017

Interworld Digital will hold a meeting of the Board of Directors of the Company on 29 May 2017.

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AMD Industries to hold board meeting
May 16,2017

AMD Industries will hold a meeting of the Board of Directors of the Company on 29 May 2017.

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Skipper surges after strong Q4 earnings
May 16,2017

The result was announced after market hours yesterday, 15 May 2017.

Meanwhile, the S&P BSE Sensex was up 155.80 points or 0.51% at 30,477.92. The BSE Small-Cap index was up 70.24 points or 0.45% at 15,720.61.

On the BSE, 41,000 shares were traded on the counter so far as against the average daily volumes of 22,228 shares in the past one quarter. The stock had hit a high of Rs 214 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 206 so far during the day.

The stock had hit a 52-week low of Rs 125.25 on 15 November 2016. It had outperformed the market over the past one month till 15 May 2017, advancing 5.87% compared with the Sensexs 2.92% rise. The scrip had also outperformed the market over the past one quarter, gaining 34.16% as against the Sensexs 7.69% rise.

The small-cap company has equity capital of Rs 10.23 crore. Face value per share is Rs 1.

The companys operating earnings before interest, taxation, depreciation and amortization (EBITDA) rose 1.98% to Rs 74.87 crore in Q4 March 2017 over Q4 March 2016. EBITDA margin dropped to 13.3% in Q4 March 2017, from 14% in Q4 March 2016.

Skippers Director Sharan Bansal said that the companys top line growth has been improving on the expected lines. Its international orders clearly affirm its efforts to diversify the geographical spread of its order book. Skipper is confident of maintaining its growth targets on the back of its robust order book and consistent focus on strengthening the bottom line.

Skipper is one of the leading companies in the power transmission & distribution and the polymer products segment.

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Torrent Power to hold board meeting
May 16,2017

Torrent Power will hold a meeting of the Board of Directors of the Company on 23 May 2017, to consider and approve, inter-alia, the Annual Audited Financial Results for the financial year ended 31st March 2017.

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Synergy Cosmetics (Exim) to hold board meeting
May 16,2017

Synergy Cosmetics (Exim) will hold a meeting of the Board of Directors of the Company on 30 May 2017.

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Aurum Soft Systems to hold board meeting
May 16,2017

Aurum Soft Systems will hold a meeting of the Board of Directors of the Company on 22 May 2017, to consider the audited financial results of the Company for the quarter and the year ended 31 March 2017.

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Shree Ganesh Biotech India to hold board meeting
May 16,2017

Shree Ganesh Biotech India will hold a meeting of the Board of Directors of the Company on 30 May 2017.

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Soma Papers & Industries to hold board meeting
May 16,2017

Soma Papers & Industries will hold a meeting of the Board of Directors of the Company on 29 May 2017, to consider and take on record the Audited Standalone and Consolidated Financial Results for the Quarter and Year ended 31st March 2017

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Interface Financial Services to hold board meeting
May 16,2017

Interface Financial Services will hold a meeting of the Board of Directors of the Company on 30 May 2017.

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Incon Engineers to hold board meeting
May 16,2017

Incon Engineers will hold a meeting of the Board of Directors of the Company on 29 May 2017 Quarterly Results

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Malabar Trading Company to hold board meeting
May 16,2017

Malabar Trading Company will hold a meeting of the Board of Directors of the Company on 30 May 2017.

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Overall trade deficit for April- March 2016-17 is estimated at US$ 40980 million, 16.87% lower from April-March 2015-16
May 16,2017

I. MERCHANDISE TRADE

EXPORTS (including re-exports)

In continuation with the double digit growth exhibited by exports during March 2017, exports during April 2017have shown growth of 19.77 per cent in dollar terms valued at US$ 24635.09 million as compared to US$ 20568.85 million during April,2016. In Rupee terms, duringApril 2017 exports were valued at Rs. 158913.79 crore as compared to Rs. 136720.11 crore during April 2016, registering a positive growth of 16.23%.

Non-petroleum and Non Gems & Jewellery exports in April 2017 were valued at US$ 17718.87 million against US$ 15136.41 million in April 2016, an increase of 17.06%.

The growth in exports is positive for all major economies, USA (4.74%), EU (0.16%), Japan (13.30%) except for China (-1.56%)for February 2017 over the corresponding period of previous year as per latest WTO statistics.

IMPORTS

Imports during April 2017 were valued at US$ 37884.28 million (Rs. 244380.52 crore) which was 49.07 per cent higher in Dollar terms and 44.67% higher in Rupee terms over the level of imports valued at US$ 25413.72 million (Rs. 168923.71 crore) in April 2016.

CRUDE OIL AND NON-OIL IMPORTS:

Oil imports during April 2017 were valued at US$ 7359.27 million which was 30.12% higher than oil imports valued at US$ 5655.92 million in April 2016.

In this connection it is mentioned that the global Brent prices ($/bbl) have increased by 25.40% in April 2017 vis-n++-vis April 2016 as per World Bank commodity price data.

Non-oil imports during April 2017 were estimated at US$ 30525.01 million which was 54.50% higher than non-oil imports of US$ 19757.80 million in April 2016.

II. TRADE IN SERVICES (for March 2017, as per the RBI Press Release dated 15th May 2017)

EXPORTS (Receipts)

Exports during March 2017 were valued at US$ 14179 Million (Rs. 93406.57 Crore) registering a positive growth of 8.57% in dollar terms as compared to negative growth of 3.76% during February 2017 (as per RBIs Press Release for the respective months).

IMPORTS (Payments)

Imports during March 2017 were valued at US$ 8267 Million (Rs. 54460.27 crore) registering a positive growth of 14.26% in dollar terms as compared to negative growth of 13.96per cent during February2017 (as per RBIs Press Release for the respective months).

III.TRADE BALANCE

MERCHANDISE: The trade deficit for April 2017 was estimated at US$ 13249.19 million which was 173.47% higher than the deficit of US$ 4844.87 million during April 2016.

SERVICES: As per RBIs Press Release dated 15th May 2017, the trade balance in Services (i.e. net export of Services) for March, 2017 was estimated at US$ 5912 million. The net export of services for April- March, 2016-17 was estimated at US$ 65214 million which is lower than net export of services of US$ 69419million during April- March 2015-16. (The data for April-March 2015-16 and 2016-17 has been derived by adding April-March month wise QE data of RBI Press Release).

OVERALL TRADE BALANCE: Overall the trade balance has improved. Taking merchandise and services together, overall trade deficit for April- March 2016-17 is estimated at US$ 40980 million which is 16.87% lower in Dollar terms than the level of US$ 49297.53 million during April-March 2015-16.

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Infosys in focus after MauBank adopts Finacle solution
May 16,2017

Infosys will be watched. Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys and MauBank, a leading bank in the Republic of Mauritius announced the banks successful adoption of Finacles leasing solution for its strategic leasing services business. The announcement was made after market hours yesterday, 15 May 2017.

Yes Bank announced the appointment of Debjani Ghosh as an additional (non executive) director on the board of the bank with effect from 15 May 2017. The shareholders of the bank would consider the appointment of Debjani Ghosh as an independent director on the board in the ensuing Annual General Meeting (AGM) of the bank scheduled on 6 June 2017. The announcement was made after market hours yesterday, 15 May 2017.

Skippers net profit rose 46.15% to Rs 52.78 crore on 10.11% rise in total revenue to Rs 584.55 crore in Q4 March 2017 over Q4 March 2016. The announcement was made after market hours yesterday, 15 May 2017.

Skipper recommended a dividend of Rs 1.55 per equity share for the financial year ended 31 March 2017 (FY 2017),

Websol Energy System said that it has received on due certificate from ARCIL on payment of the entire settlement amount. The announcement was made after market hours yesterday, 15 May 2017.

Future Lifestyle Fashions net profit jumped 262.64% to Rs 18.93 crore on 16.18% rise in total income from operations to Rs 987.73 crore in Q4 March 2017 over Q4 March 2016. The announcement was made after market hours yesterday, 15 May 2017.

The board has recommended a dividend of Rs 0.80 per equity share for the financial year ended 31 March 2017 (FY 2017).

Gujarat State Fertilizers and Chemicals said that ammonia-IV plant of the company shall be under annual planned shutdown from 16 May 2017 to 13 June 2017. As a result of this, the production of urea plants shall also stand reduced. This planned shutdown basically would take care of all the jobs related to system cleaning, preventive maintenance and statutory testing. The s plant would come back into the mainstream from 14th June 2017. There will be no major impact on production due to the said shutdown. The announcement was made after market hours yesterday, 15 May 2017.

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Bodhtree Consulting announces cessation of director
May 15,2017

Bodhtree Consulting announced the cessation of Dr Krishnan Jayaraman from the post of Director of the Company with effect from 11 May 2017.

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