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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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LafargeHolcim increases stake in Ambuja Cement and ACC
Nov 16,2016

ACC announced that LafargeHolcims subsidiary Holderind Investments has increased its shareholding in Ambuja Cement by 39,100,000 shares to 1253156361 shares (63.11% of total Ambuja shares) and in ACC, a subsidiary of Ambuja, by 7870000 shares to 8411000 shares (4.48% of total ACC shares).

The Purchase Price will be paid in INR. The impact of LarfargeHolcims net debt is CHF 325 million. This investment was not included in the Groups net debt objective of around CHF 13 billion at the end of 2016 which should be adjusted accordingly.

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Shares of Salem Erode Investments get listed
Nov 16,2016

The equity shares of Salem Erode Investments (Scrip Code: 540181) are listed effective 16 November 2016 and admitted to dealings on the Exchange in the list of XT Group Securities.

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GAIL (India) rises after strong Q2 outcome
Nov 16,2016

The result was announced after market hours yesterday, 15 November 2016.

Meanwhile, the S&P BSE Sensex was up 297.15 points or 1.13% at 26,601.78

On BSE, so far 13,000 shares were traded in the counter as against average daily volume of 2 lakh shares in the past one quarter. The stock hit a high of Rs 444.95 and a low of Rs 437.50 so far during the day. The stock had hit a 52-week high of Rs 455.70 on 10 November 2016. The stock had hit a 52-week low of Rs 277 on 16 November 2015.

The large-cap company has equity capital of Rs 1268.48 crore. Face value per share is Rs 10.

GAIL (India)s net profit was boosted by a turnaround in its petrochemical business and reduction in interest costs. The companys profit before tax (PBT) surged 151% to Rs 1375 crore in Q2 September 2016 over Q2 September 2015. The companys net profit rose 9% to Rs 924.65 crore in Q2 September 2016 over Q1 June 2016 (excluding the gains from stake sale in Mahanagar Gas), largely on account of better performance in natural gas transmission and petrochemical segment.

During the Q2 September 2016, GAIL (India)s petrochemical business has seen a turnaround with sales jumping 61% on year-on-year basis. This has resulted increase in revenue in this segment by 53% to Rs 1358 crore and the profit stood at Rs 104 crore in Q2 September 2016 as against loss of Rs 364 crore in Q2 September 2015. The increase in net profit during Q2 September 2016 on year on year basis, was also supported by increase in natural gas marketing & transmission volumes by 8% and 12% respectively and liquid hydrocarbon sales by 9%.

State-run GAIL (India) is Indias largest natural gas company with a market share of over 80% in natural gas transmission. Apart from natural gas transmission, distribution and processing, GAIL has diversified business interests in LPG transmission, petrochemicals, city gas projects and exploration and production activities. Government of India (GoI) holds 56.11% stake in GAIL (as per shareholding pattern as on 30 June 2016).

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Cabinet approves Status-cum-Progress Report and constitution of n++Special Committee for Inter-Linking of Riversn++
Nov 16,2016

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval to the Status-cum-Progress Report and constitution of n++Special Committee for Inter-Linking of Riversn++ in compliance of Supreme Court judgment dated 27 February 2012 in the matter of Writ Petition (Civil) 512 of 2002: Networking of Rivers along with Writ Petition No. 668 of 2002.

Approval of the Union Cabinet will help in monitoring of the precious Inter-linking of River Projects to be carried out under National Perspective Plan 1980 of Government of India. The Status-cum-Progress Report of Special Committee for Inter-linking of Rivers will be submitted bi-annually for information of Cabinet, which will facilitate faster and appropriate decisions in the interest of the country as expeditiously as possible.

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GAIL (India) may advance after strong Q2 results
Nov 16,2016

GAIL (India)s net profit surged 179.84% to Rs 924.65 crore on 15.54% decline in total income to Rs 12194.25 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 15 November 2016. Net profit was boosted by a turnaround in its petrochemical business and reduction in interest costs. The companys profit before tax (PBT) surged 151% to Rs 1375 crore in Q2 September 2016 over Q2 September 2015. The companys net profit rose 9% to Rs 924.65 crore in Q2 September 2016 over Q1 June 2016 (excluding the gains from stake sale in Mahanagar Gas), largely on account of better performance in natural gas transmission and petrochemical segment.

During the quarter, GAIL (India)s petrochemical business has seen a turnaround with sales jumping 61% on year-on-year basis. This has resulted increase in revenue in this segment by 53% to Rs 1358 crore and the profit stood at Rs 104 crore in Q2 September 2016 as against loss of Rs 364 crore in Q2 September 2015. The increase in net profit during Q2 September 2016 on year on year basis, was also supported by increase in natural gas marketing & transmission volumes by 8% and 12% respectively and liquid hydrocarbon sales by 9%.

Shares of public sector oil marketing companies (PSU OMCs) will be in focus after Indian Oil Corporation (IOCL) announced reduction in selling price of petrol by Rs 1.46 per litre (excluding state levies) and reduction in selling price of diesel by Rs 1.53 per litre (excluding state levies) with effect from midnight of 15/16 November 2016. The announcement was made after market hours yesterday, 15 November 2016. The current level of international product prices of petrol and diesel and INR-USD exchange rate warrant decrease in selling price of petrol and diesel, the impact of which is being passed on to the consumers with this price revision, IOCL said. The movement of prices in the international oil market and INR-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes, the company said.

ABB India announced after market hours yesterday, 15 November 2016, that ABB has won an order from Alstom to supply 1600 traction transformers for 800 new electric freight locomotives in India. The transformers will be manufactured locally in ABBs Vadodara facility in Gujarat, supporting the governments Make in India initiative to encourage manufacturing in the country. ABB will supply 25 kilovolt (kV)/50 hertz (Hz) underframe traction transformers for the 800 locomotives (2 units per locomotive). The compact transformers are designed for the most demanding conditions, including extreme temperatures and voltage fluctuations. They will support heavy freight loads over long distance haulage under rigorous conditions, including steep inclines.

HDFC announced after market hours yesterday, 15 November 2016, that it intends to raise Rs 2000 crore from issue of non-convertible debentures on private placement basis. The debentures will carry a coupon rate of 7.72% per annum and will have a tenor of 10 years.

Wipro and ASG Technologies, a global provider of information access, management and control solutions, announced an expanded partnership that integrates the offerings of Wipros Data Management Centre of Excellence (CoE) with ASGs Enterprise Data Intelligence solution to improve compliance for the global financial services companies. The announcement was made after market hours yesterday, 15 November 2016.

Wheels India said that the company has entered into a technology transfer agreement with FLUITECNIK, S.An++ Spain for the manufacture of hydraulic components for supply to wind mill manufacturers in India. The announcement was made after market hours yesterday, 15 November 2016.

Tata Global Beverages consolidated net profit surged 60.10% to Rs 139.62 crore on 2.69% fall in total income to Rs 1656.91 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 15 November 2016.

Shree Renuka Sugars reported net profit of Rs 2.50 crore in Q2 September 2016 as compared with net loss of Rs 151.20 crore in Q2 September 2015. Total income jumped 110.03% to Rs 2033.10 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 15 November 2016.

Vardhman Textiles net profit surged 231.35% to Rs 454.01 crore on 22.88% rise in total income to Rs 1815.90 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 15 November 2016.

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Milk availability Per Capita with the Existing Level of 337 Gram is Likely to Go Up 500 Gram Per day by the Year 2021-22
Nov 15,2016

The Union Agriculture and Farmers Welfare Minister, Shri Radha Mohan Singh said that the hard labour extended by the people engaged in diary sector and unabated efforts of Central Government, India has achieved 4.2% average growth in milk production and has left behind the world average of 2.2%. During 2015-16 the growth in milk production in India has been 6.7%. The Minister of Agriculture and Farmers Welfare said it in the conference of stake holders related to dairy industry in National Dairy Development Board, here, today. Speaking on the occasion the Union Minister informed that owing to the enhancement in milk production the availability of milk statistics based on daily basis per capita with the existing level of 337 gram is likely to go up 500 gram daily by the year 2021-22. A sum of Rs. 2242 crore will be incurred on this scheme. Shri Singh said that it is also very much imperative to create awareness and to improve veterinary services.

Shri Radha Mohan Singh said that India ranks first in milk production in the world for last fifteen years and credit for this goes to the small milk producers. Agriculture Minister added that demand of milk and milk made products is increasing and it is likely to go up by 24 crore tonnes by the year 2025.

The Minister said that it is extremely necessary to utilize scientific outputs and sophisticated technique in dairy because there is no enhancement of milk productivity in spite of the availability of best species of bovines in India.

Shri Singh said that Ministry of Agriculture and Farmers Welfare has taken a number of steps to increase the production of milk in which Gokul Mission is very much prominent. Under this mission for the year 2014-15 to 2016-17 a provision of Rs. 500 crore has been made. NDDB with the assistance of World Bank and Central Government has taken several measures under National Dairy Scheme Phase - I, a centrally sponsored scheme. It includes a genetic improvement among bovines, betterment of rural infrastructure in dairy and to provide better opportunities for milk vendors. The initiation of NDDB -I had been made in 14 states and at present it is being carried out in 18 states along with Jharkhand, Chattisgarh, Uttarakhand and Telangana.

Shri Radha Mohan Singh further added that an enhancement of more than 6% in milk production sector is necessary for a true development meant for this sector. In order to achieve this object, improved technologies, capacity building, marketing, scientific livestock management, knowhow related to milk production and better arrangement of loans is necessary so as to operate a dairy systematically and in a balanced way. Agriculture Minister opined that the youth and females are enjoying handsome employment opportunities in dairy sector. Shri Singh also said that by the year 2022 the income of the farmers is to be made as double and to achieve this target the dairy sector is to play a very important role.

Thereafter, the Union Minister of Agriculture and Farmers Welfare participated in the programme organized by the Society of Pesticides Science India at National Agricultural Science Complex, Pusa, New Delhi. Speaking on this occasion, Shri Singh added that various disorders prevalent on crops and pests have cast a very serious adverse impact on food grains production. Owing to these pests and maladies the crop production on global level is reducing by 15 to 25% every year. It is estimated that on various stages of agricultural production and their storage 35% chunk of total crop production is damaged due to pests, diseases, weeds, rats, birds as well as nematodes etc. India ranks on 10th place in the world with regard to the consumption of pesticides. This is the country that consumes lowest degree of chemicals (pesticides). Earlier the use of pesticides rate was 2 to 5 kg per hectare which has been reduced from 100 to 200 grams per hectare. For a few last years on account of the remains of pesticides in the crops, an adverse impact has affected the export of agricultural products. Therefore, it is also very necessary to have this scenario monitored.

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Outcome of board meeting of Tata Global Beverages
Nov 15,2016

Tata Global Beverages announced that the Board of Directors of the Company considered the continuance of Cyrus P. Mistry as Chairman of the Company at its Board Meeting held on 15 November 2016.

After extensive deliberations, and keeping in view the long term interest and alignment of all stakeholders and stability of the Company, the Board of Directors resolved to replace Cyrus P Mistry as Chairman of the Company, by majority vote, with 7 out of the 10 Directors present at the Board Meeting, voting in favour of the resolution.

The Board of Directors also appointed Harish Bhat - a Non-Executive Director of the Company, as the Chairman of the Company.

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CPI Inflation eases to 4.2% in October 2016
Nov 15,2016

The all-India general CPI inflation dipped to 4.20% in October 2016 (new base 2012=100), compared with 4.39% in September 2016. The corresponding provisional inflation rate for rural area was 4.78% and urban area 3.54% in October 2016, as against 5.04% and 3.64% in September 2016. The core CPI inflation was nearly flat 4.81% in October 2016 from 4.77% in September 2016. The cumulative CPI inflation rose to 5.24% in April-October 2016 compared with 4.58% in April-October 2015.

Among the CPI components, inflation of food and beverages declined to 3.71% in October 2016 from 4.12% in September 2016 contributing to the fall in CPI inflation. Within the food items, the inflation eased for pulses and products to 4.11%, fruits 4.42%, oils and fats 3.80%, sugar and confectionery 23.62% and spices 7.40%. On the other hand, inflation moved up for vegetables (-) 5.74%, prepared meals, snacks, sweets etc to 6.17%, cereals and products 4.40%, meat and fish 6.16% and milk and products 4.42% in October 2016.

The inflation for housing was steady at 5.15%, while that for miscellaneous items inched up to 4.58% in October 2016. Within the miscellaneous items, the inflation for transport and communication rose to 3.41%, education 5.16%, health 4.73%, and household goods and services 4.39%, while eased for personal care and effects to 7.20% in October 2016.

The inflation for clothing and footwear was flat at 5.24% in October 2016, while the CPI inflation of fuel and light eased to 2.81% in October 2016.

The CPI inflation figure for September 2016 has been revised upwards to 4.39% from 4.31% reported earlier.

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Board of Ruby Cables accepts resignation of director
Nov 15,2016

The Board of Ruby Cables accepts resignation of Rajendra Kumar Patel as Director of the Company with effect from 28 October 2016.

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Karnataka Bank launches special campaign
Nov 15,2016

Karnataka Bank has launched a special Current and Savings Bank account campaign. The nationwide campaign will remain in force for a period of three and half months from 15 November 2016 to 28 February 2017. The Bank plans to open more than 4.15 lakh current and savings bank accounts through this initiative.

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Ideal Texbuild reports standalone net profit of Rs 0.04 crore in the September 2016 quarter
Nov 15,2016

Net profit of Ideal Texbuild reported to Rs 0.04 crore in the quarter ended September 2016. There were no net profit/loss reported during the previous quarter ended September 2015. Sales rose 1250.00% to Rs 1.35 crore in the quarter ended September 2016 as against Rs 0.10 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales1.350.10 1250 OPM %2.960 - PBDT0.040 0 PBT0.040 0 NP0.040 0

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Lesha Industries reports standalone net loss of Rs 0.03 crore in the September 2016 quarter
Nov 15,2016

Net Loss of Lesha Industries reported to Rs 0.03 crore in the quarter ended September 2016 as against net loss of Rs 0.04 crore during the previous quarter ended September 2015. Sales declined 92.50% to Rs 0.03 crore in the quarter ended September 2016 as against Rs 0.40 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales0.030.40 -93 OPM %-66.67-7.50 - PBDT-0.02-0.03 33 PBT-0.03-0.04 25 NP-0.03-0.04 25

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S S Organics reports standalone net loss of Rs 1.62 crore in the September 2016 quarter
Nov 15,2016

Net Loss of S S Organics reported to Rs 1.62 crore in the quarter ended September 2016 as against net loss of Rs 1.39 crore during the previous quarter ended September 2015. Sales rose 10.77% to Rs 0.72 crore in the quarter ended September 2016 as against Rs 0.65 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales0.720.65 11 OPM %-168.06-163.08 - PBDT-1.37-1.20 -14 PBT-1.62-1.39 -17 NP-1.62-1.39 -17

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Confidence Finance & Trading reports standalone net profit of Rs 0.18 crore in the September 2016 quarter
Nov 15,2016

Net profit of Confidence Finance & Trading reported to Rs 0.18 crore in the quarter ended September 2016 as against net loss of Rs 0.70 crore during the previous quarter ended September 2015. Sales declined 87.73% to Rs 0.47 crore in the quarter ended September 2016 as against Rs 3.83 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales0.473.83 -88 OPM %40.43-18.02 - PBDT0.19-0.69 LP PBT0.18-0.70 LP NP0.18-0.70 LP

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CHL reports standalone net profit of Rs 0.44 crore in the September 2016 quarter
Nov 15,2016

Net profit of CHL reported to Rs 0.44 crore in the quarter ended September 2016 as against net loss of Rs 1.63 crore during the previous quarter ended September 2015. Sales rose 16.85% to Rs 11.86 crore in the quarter ended September 2016 as against Rs 10.15 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales11.8610.15 17 OPM %21.08-0.39 - PBDT1.45-0.52 LP PBT0.76-1.63 LP NP0.44-1.63 LP

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