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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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IIFL Holdings attracts buyers after subsidiary acquires microfinance firm
Nov 18,2016

The announcement was made after market hours yesterday, 17 November 2016.

Meanwhile, the BSE Sensex was up 33.79 points, or 0.13%, to 26,261.41.

On BSE, so far 5,462 shares were traded in the counter, compared with average daily volume of 35,847 shares in the past one quarter. The stock hit a high of Rs 256 and a low of Rs 247.95 so far during the day. The stock hit a 52-week high of Rs 339.50 on 28 October 2016. The stock hit a 52-week low of Rs 163.50 on 29 February 2016. The stock underperformed the market over the past one month till 17 November 2016, sliding 6.54% compared with 4.73% decline in the Sensex. The scrip also underperformed the market in past one quarter, falling 13.5% as against Sensexs 6.35% decline.

The mid-cap company has equity capital of Rs 63.42 crore. Face value per share is Rs 2.

IIFL Holdings said that its non-banking financial company (NBFC) subsidiary, India Infoline Finance (IIFL), proposes to acquire the management and control of Bangalore-based Samasta Microfinance (Samasta), through acquisition of upto 100% equity shares, subject to completion of necessary due diligence, regulatory and other internal approvals. Samasta is an NBFC-micro finance institution (NBFC-MFI) registered with the Reserve Bank of India (RBI). Pursuant to this, IIFL, Samasta and the promoters of Samasta will enter into necessary agreements and documents to effect sale and purchase shares of Samasta in due course upon completion of due diligence, internal approvals and regulatory process.

Samasta promoted by Narayanswamy Venkatesh and Deviah Shivaprasad, first generation entrepreneurs, began operations as an MFI in March 2008 and operates in Tamil Nadu, Karnataka, Maharashtra and Goa through 64 branches. It currently has an asset under management (AUM) of about Rs 100 crore as on 30 September 2016. The income of Samasta as on 31 March 2016 was Rs 20.14 crore. The proposed acquisition of Samasta will help IIFL to enter into micro finance segment and extend its wide ranging financial services to their large customer base. IIFL has received an in principle approval from the RBI for acquiring the stake. The indicative time for completion of the acquistion is about 6 months.

IIFL Holdings consolidated net profit rose 30.4% to Rs 183.12 crore on 25.4% increase in net sales to Rs 1216.12 crore in Q2 September 2016 over Q2 September 2015.

IIFL Holdings is the apex holding company of the entire IIFL Group. It offers a gamut of services including financing, wealth and asset management, broking, financial product distribution, investment banking, institutional equities, realty and property advisory services through its various subsidiaries.

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Board of Abbott India to consider HY results
Nov 18,2016

Abbott India announced that a Meeting of the Board of Directors of the Company is scheduled to be held on 28 November 2016, inter alia, to consider and approve the text of Unaudited Financial Results of the Company for the half year ended on 30 September 2016.

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Zee Learn allots equity shares
Nov 18,2016

Zee Learn announced that the ESOP Allotment Sub-Committee of the Company at its meeting held on 18 November 2016 has approved allotment of total 45,000 equity shares consisting of 45,000 Equity Shares of Re.1/- at an exercise price of Rs. 20.85 per Equity Share, under the ZLL ESOP 2010 - AMENDED 2015 Scheme.

Consequent to the above allotment, the paid up share capital of the Company has increased from 320,733,515 equity shares of Re. 1/- each aggregating Rs. 320,733,515 /- to 320,778,515 equity shares of Re. 1/- each aggregating Rs. 320,778,515 /-.

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Infosys partners with UNSILO
Nov 18,2016

Infosys announced that it has made an investment of DKK 14,920,000 from its Innovation Fund in UNSILO, a Danish artificial intelligence startup focused on advanced text analysis. UNSILO uses a unique combination of machine-learning and natural language processing to analyze large quantities of text and improve the speed and effectiveness of knowledgeworkers across many industries.

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Sadbhav Engineering to announce Q2 results
Nov 18,2016

Sadbhav Engineering announced that the meeting of the Board of Directors is scheduled to be held on 28 November 2016, inter alia, to consider and approve the Unaudited Financial Results for the quarter and half year ended 30 September 2016 (Q2).

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CEAT gets upgradation in credit ratings
Nov 18,2016

Ceat announced that India Ratings and Research, a Rating Agency (Ind-Ra), has upgraded the Companys Long-Term Issuer Rating to IND AA from IND AA-. The outlook is Stable. The Companys Short Term Issuer Rating was affirmed at IND A1+.

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Ramco Systems bags order from Schenker AG
Nov 18,2016

Ramco Systems has secured an order from Schenker AG for Ramco HCM & Payroll for an aggregate value of about EUR 7.3 million.

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HealthCare Global Enterprises rises as board approves scheme of amalgamation
Nov 18,2016

The announcement was made after market hours yesterday, 17 November 2016.

Meanwhile, the S&P BSE Sensex was up 83.41 points or 0.32% at 26,311.03

On BSE, so far 3,920 shares were traded in the counter as against average daily volume of 57,153 shares in the past one quarter. The stock hit a high of Rs 254.05 and a low of Rs 250 so far during the day. The stock had hit a record high of Rs 256 on 1 November 2016. The stock had hit a record low of Rs 167 on 24 June 2016. The stock had outperformed the market over the past 30 days till 17 November 2016, rising 8% compared with 6.28% decline in the Sensex. The scrip also outperformed the market in past one quarter, gaining 20.26% as against Sensexs 6.59% fall.

The small-cap company has equity capital of Rs 85.08 crore. Face value per share is Rs 10.

HealthCare Global Enterprises said that it is proposed to merge DKR Healthcare , a subsidiary of BACC Health Care, with BACC Health Care, being subsidiaries of the company. BACC Health Care is a direct subsidiary of the company and DKR Healthcare is a wholly owned subsidiary of BACC Health Care. The board of directors of the respective companies has approved the scheme of amalgamation for the merger of these companies, HealthCare Global Enterprises said.

HealthCare Global Enterprises reported consolidated net profit of Rs 4.94 crore in Q2 September 2016 as compared with net loss of Rs 1.67 crore in Q2 September 2015. Net sales rose 21.96% to Rs 172.93 crore in Q2 September 2016 over Q2 September 2015.

HealthCare Global Enterprises is a provider of speciality healthcare in India, focused on cancer and fertility. Under the HCG brand, the company operates the largest cancer care network in India in terms of the total number of private cancer treatment centres licensed by the AERB. HGEL also provides fertility treatment under the Milann brand.

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Asian Tea & Exports announces change in company secretary and compliance officer
Nov 18,2016

Asian Tea & Exports announced that Anand Kumar Jha has submitted his resignation from the post of Company Secretary and Compliance Officer of the Company w.e.f. 15 November 2016 and Board members have accepted his resignation in its meeting held on 18 November 2016

Further, Rashi Nagori an associate member of The Institute of Company Secretaries of India has been appointed as Company Secretary and Compliance Officer of the Company w.e.f. 18 November 2016.

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Death Claims to be Processed within 07 Days and Retirement Claims to be Settled on the Day of Retirement
Nov 18,2016

The Prime Minister of India during the PRAGATI review meeting held on 26th October desired that claims related to death cases be prioritized and expedited and retirement claims may be settled on the day of retirement. In accordance, the processes have been reviewed and instructions have been issued to field offices to settle death claims within a period of 07 days from the date of receipt of proposal and retirement claims on the day of retirement. The officials in the facilitation centre of field offices have been instructed to scrutinize the claims and guide the claimant regarding submission of required documents in appropriate shape. An official has been posted in the facilitation centers of EPFO this category of claims.

Employers are now increasingly using internet banking to deposit statutory EPF dues since EPFO made it mandatory to use internet banking as the mode of receipt of EPF dues. 96.03% contributions in October 2016 were received online.

In an important judgment delivered by the High Court of Madras in the matter of writ petition filed by Builders Association of India, Madurai, the High Court dismissed the petition praying non enforcement of EPF & MP Act, 1952 every employee employed in or in connection with the work or that factory or establishment, other than an excluded employee, who has not become a member already shall also be entitled and required to become a member of the Fund from the date of joining the factory or establishment.

To expand the reach of convenience offered to EPF members, EPFO has joined the network of Common Services Centers (CSC). A Memorandum of understanding (MoU) has been signed between EPFO and CSC e-Governance Services India (CSC SPV) on 25th October 2016. The MoU is initially for a period of five years. Every year on 14st November, pensioners were required to submit their life certificates. From this year onward, pensioners can submit digital life certificates via Jeevan Pramaan Patra programme through a large number of points of Presence (PoP) of CSC network in addition to those available at EPFO offices. The pensioners living in remote areas can avoid cost and inconvenience of travelling down to the EPF offices or their banks for filing paper based life certificate through this arrangement.

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Trident wins Runner Up Award for Project of the year - Large Category
Nov 18,2016

Trident announced that Triden has been conferred the Runner Up Award in prestigious Project of the year - Large Category at the PMI India Awards 2016, for its Integrated Composite Textile (Bed Linen) Project at Budhni Madhya Pradesh.

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Pincon Spirit to consider increasing powers of board for overseas investments
Nov 18,2016

Pincon Spirit announced that the meeting of Board of Directors of the Company is going to be held on 21 November 2016, inter alia, to consider the following matters :

- To Increase power of Board of Directors to make investment overseas.

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Volumes jump at Orient Cement counter
Nov 18,2016

Orient Cement clocked volume of 5.08 lakh shares by 12:45 IST on BSE, a 10.17-times surge over two-week average daily volume of 50,000 shares. The stock rose 0.3% to Rs 133.

Petronet LNG notched up volume of 5.15 lakh shares, a 4.1-fold surge over two-week average daily volume of 1.26 lakh shares. The stock jumped 5.86% to Rs 367.70 after net profit surged 81.72% to Rs 459.56 crore on 11.57% fall in total income to Rs 6705.88 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 17 November 2016.

Sadbhav Engineering saw volume of 2.54 lakh shares, a 2.86-fold surge over two-week average daily volume of 89,000 shares. The stock gained 2.41% to Rs 286.70.

Hero MotoCorp clocked volume of 80,000 shares, a 2.24-fold surge over two-week average daily volume of 36,000 shares. The stock gained 1.9% to Rs 2,932.90.

PC Jeweller saw volume of 2.13 lakh shares, a 1.58-fold rise over two-week average daily volume of 1.35 lakh shares. The stock declined 3.93% to Rs 341.25.

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HMT falls as net loss widens in Q2
Nov 18,2016

Net sales declined 54.78% to Rs 6.81 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 17 November 2016.

Meanwhile, the BSE Sensex was up 9.09 points, or 0.03%, to 26,236.71

On BSE, so far 8,240 shares were traded in the counter, compared with an average volume of 11,241 shares in the past one quarter. The stock hit a high of Rs 37 and a low of Rs 34.70 so far during the day. The stock hit a 52-week high of Rs 60.05 on 6 January 2016. The stock hit a 52-week low of Rs 34.15 yesterday, 17 November 2016. The stock had underperformed the market over the past 30 days till 17 November 2016, falling 10.13% compared with 6.28% decline in the Sensex. The scrip also underperformed the market in past one quarter, declining 9.78% as against Sensexs 6.59% fall.

The small-cap company has an equity capital of Rs 1204.09 crore. Face value per share is Rs 10.

Incorporated in 1953, by the Government of India as a Machine Tool manufacturing company, it later diversified into watches, tractors, printing machinery, metal forming presses, die casting & plastic processing machinery, CNC systems & bearings. Today, HMT comprises five subsidiaries under the ambit of a Holding Company, which also manages the Tractors Business directly.

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E-Tourist Visa issuance jump 86.4% in October 2016
Nov 18,2016

A total of 105268 foreign tourists arrived in October 2016 on e-Tourist Visa as compared to 56477 during the month of September 2015 registering a growth of 86.4%. UK (22.9%) continues to occupy top slot followed by USA (12.1%) and France (6.6%) amongst countries availing e-tourist visa facility During October 2016.

The facility of e-Tourist Visa has been made available by the Government of India to the citizens of 150 countries, arriving at 16 International Airports in India. The number of e-Tourist Visa availed by foreign tourists visiting India during the month of October 2016 has registered a substantial growth rate over the corresponding month of 2015.

During January- October 2016, a total of 780570 tourists arrived on e-Tourist Visa as compared to 258182 during January-October 2015, registering a growth of 202.3%.

This high growth may be attributed to introduction of e-Tourist Visa for 150 countries as against the earlier coverage of 113 countries.

The percentage shares of top 10 source countries availing e-Tourist Visa facilities during October 2016 were as follows: UK (22.9%), USA (12.1%), France (6.6%), China (5.8%), Russian Fed (5.6%), Germany (5.5%), Australia (4.5%), Canada (3.6%), Spain (2.3%) and Netherlands (2.1%).

The percentage shares of top 10 ports in tourist arrivals on e-Tourist Visa during October, 2016 were as follows: New Delhi Airport (51.67%), Mumbai Airport (18.65%), Dabolim (Goa) Airport (6.20%), Bengaluru Airport (5.18%), Chennai Airport (4.97%), Kochi Airport (3.15%), Amritsar Airport (2.42%) Hyderabad Airport (2.18%), Kolkata Airport (2.08%) and Trivandrum Airport (1.28%).

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