My Application Form Status

Check the status of your application form with Angel Broking.
Arq - The Hyper Intelligent Investment Engine By Angel Broking
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.

Powered by Capital Market - Live News

Ruchira Papers gains as board plans to consider fund raising
Feb 23,2017

The announcement was made during market hours today, 23 February 2017.

Meanwhile, the S&P BSE Sensex was up 83.93 points, or 0.28%, to 28,945.64.

On the BSE, 5,537 shares were traded on the counter so far as against the average daily volumes of 32,857 shares in the past one quarter. The stock had hit a high of Rs 131 and a low of Rs 128.05 so far during the day.

The stock had hit a record high of Rs 143.40 on 27 January 2017 and a 52-week low of Rs 51.40 on 29 February 2016. The stock had outperformed the market over the past one month till 22 February 2017, advancing 7.04% compared with the Sensexs 6.77% rise. The scrip had also outperformed the market over the past one quarter advancing 27.11% as against the Sensexs 11.19% rise.

The small-cap company has equity capital of Rs 22.42 crore. Face value per share is Rs 10.

Ruchira Papers announced that a meeting of the board of directors of the company will be held on 3 March 2017, to consider and approve preferential issue of convertible securities (warrants) subject to the members approval and other necessary permissions.

Ruchira Papers net profit rose 48.3% to Rs 8.05 crore on 13.9% increase in net sales to Rs 102.59 crore in Q3 December 2016 over Q3 December 2015.

Ruchira Papers is a paper manufacturing company. It is engaged in the process of manufacturing writing and printing paper, and kraft paper.

Powered by Capital Market - Live News

Moodys: Asian high-yield bonds unaffected by dispute on make-whole premiums in North America
Feb 23,2017

Moodys Investors Service says that the dispute between investors and bond issuers in North America regarding payment of the make-whole premium upon a default by the issuer has not reached Asia and is unlikely to ever do so.

Unlike some recent high-yield bonds for North American companies, Asian high-yield bonds covered in Moodys Covenant Quality Assessments (CQAs) do not include the no premium on default language in their indentures, says Jake Avayou, a Moodys Vice President and Senior Covenant Officer.

This language prevents bondholders from seeking certain premiums if a company breaches its covenants and defaults, and first appeared in late October 2016 in an investment grade bond issued by NIKE, Inc. (A1 stable) and a high-yield bond issued by Rackspace Hosting, Inc. (B1 stable), a portfolio company of Apollo Global Management, adds Avayou.

The languages appearance followed a decision by a US district court that favored bondholders over Cash America International Inc. The court essentially ruled that, in the case of a bond issuers voluntary breach, acceleration of the debt is not the bondholders only remedy; bondholders are also allowed to seek payment of a make-whole premium. But the court also noted that indentures could include provisions that specify n++and thereby limit n++ the remedies available to the bondholders.

That prompted issuers, private-equity firms and their counsel to use their negotiating leverage to change the language in their indentures to favor them, rather than their bondholders. The no premium on default language was included by a handful of US companies in their high-yield bond indentures in late 2016.

In early January, potential investors in four high-yield bonds in North America successfully pushed back on including the no premium on default language in their bond indentures. Their success raised awareness of the risks of including the clause in high-yield bonds and spurred more investors in North America to resist its inclusion. But this awareness and pushback occurred before the clause made its way into any Asian deals, making it less likely -- as indicated -- that issuers in Asia will be able to negotiate for its inclusion going forward.

Another reason no Asian bond has included the no premium on default clause is that Asian investors have been less willing than their North American counterparts to sacrifice structural protections in their hunt for yield.

And Asian bond issuers typically chip away at existing covenants -- for example by upsizing permitted investment and debt carve-outs and lowering fixed-charge coverage ratio thresholds in their debt incurrence covenants -- rather than introduce new provisions that weaken investor protections.

Additionally, the majority of US high-yield bonds into which the clause was introduced are led by private-equity sponsors, but there are very few such deals in Asia.

Moodys further notes that the inclusion of a equivalent premium by corporate issuers in North America, instead of the no premium on default clause, is also unlikely to reach Asia.

The equivalent premium clause provides that in the event of a default due to a willful action by the company to avoid paying the redemption premium, the company must pay an equivalent premium upon acceleration of the notes.

Moodys says that while this clause is investor-friendly, it also creates uncertainty by leaving crucial terms such as willful action and intention of avoiding payment undefined, leaving investors vulnerable to unfavorable judicial interpretations.

However, no Asian high-yield bond has included an equivalent premium clause to date, and Moodys does not expect that this provision will be introduced into the Asian market.

Powered by Capital Market - Live News

PC Jeweller gets credit ratings for Commercial Paper programme
Feb 23,2017

PC Jeweller announced that India Ratings and Research has assigned IND A1+ rating to the Companys additional Rs 300 crore Commercial Paper Programme. Simultaneously, Ind-Ra has affirmed IND A1+ ratings to the Companys existing Rs 200 crore Commercial Paper Programme.

Powered by Capital Market - Live News

Prakash Industries allots 10,59,957 equity shares
Feb 23,2017

Prakash Industries has received notice(s) from FCCB holder(s) for conversion of 20 Nos. FCCB (US$ 50,000 each) in to 10,59,957 Nos. equity shares of Rs.10/- each of the Company in accordance with restructuring terms accepted by FCCB holder(s). Accordingly, the FCCB Conversion Committee of the Company in its meeting held on 23 February 2017 has allotted 10,59,957 equity shares to the said FCCB holder(s). Consequent upon the aforesaid conversion, the paid up share capital of the Company has increased from Rs. 1,36,76,74,230/- to Rs.1,37,82,73,800/-.

Powered by Capital Market - Live News

Prakash Industries allots 10,59,957 equity shares
Feb 23,2017

Prakash Industries has received notice(s) from FCCB holder(s) for conversion of 20 Nos. FCCB (US$ 50,000 each) in to 10,59,957 Nos. equity shares of Rs.10/- each of the Company in accordance with restructuring terms accepted by FCCB holder(s). Accordingly, the FCCB Conversion Committee of the Company in its meeting held on 23 February 2017 has allotted 10,59,957 equity shares to the said FCCB holder(s). Consequent upon the aforesaid conversion, the paid up share capital of the Company has increased from Rs. 1,36,76,74,230/- to Rs.1,37,82,73,800/-.

Powered by Capital Market - Live News

National Fertilizers announces cessation of director
Feb 23,2017

National Fertilizers announced that Gurinderjit Singh Sandhu, Independent Director has vacated the office of Director of the Company on 20 February 2017 on completion of his term.

Powered by Capital Market - Live News

National Fertilizers announces cessation of director
Feb 23,2017

National Fertilizers announced that Gurinderjit Singh Sandhu, Independent Director has vacated the office of Director of the Company on 20 February 2017 on completion of his term.

Powered by Capital Market - Live News

Lupin allots 34604 equity shares
Feb 23,2017

Lupin announced that the Allotment Committee of Directors at its meeting held on 23 February 2017 has allotted 34604 fully paid up equity shares of Rs. 2/- each. These shares have been allotted upon exercising of options granted to the employees under Stock option plans of the Company.

In view of the above, the issued and paid up capital of the Company has been increased to Rs. 90,30,59,916 consisting 45,15,29,958 equity shares of Rs. 2/- each.

Powered by Capital Market - Live News

Lupin allots 34604 equity shares
Feb 23,2017

Lupin announced that the Allotment Committee of Directors at its meeting held on 23 February 2017 has allotted 34604 fully paid up equity shares of Rs. 2/- each. These shares have been allotted upon exercising of options granted to the employees under Stock option plans of the Company.

In view of the above, the issued and paid up capital of the Company has been increased to Rs. 90,30,59,916 consisting 45,15,29,958 equity shares of Rs. 2/- each.

Powered by Capital Market - Live News

Phoenix Mills gains on foreign brokerage buy call
Feb 23,2017

Meanwhile, the BSE Sensex was up 111.52 points, or 0.39%, to 28,976.23.

On the BSE, so far 4,092 shares were traded in the counter, compared with average daily volumes of 3,458 shares in the past one quarter. The stock had hit a high of Rs 382.45 and a low of Rs 367 so far during the day.

The stock hit a 52-week high of Rs 445 on 8 September 2016. The stock hit a 52-week low of Rs 238.30 on 29 February 2016.

The mid-cap company has equity capital of Rs 30.61 crore. Face value per share is Rs 2.

The brokerage reportedly said that Phoenix Mills may benefit from rental renewals, new area additions, strong brands and falling cost of funds. Malls are seeing traction, it reportedly said, adding that consumption and rental income is growing at 20% for Pune and Bangalore. Phoenix Mills rental income grew 12% year-on-year even though demonetisation hurt the sentiment, it reportedly noted.

On a consolidated basis, Phoenix Millss net profit fell 6.86% to Rs 44.54 crore on 11.72% decline in net sales to Rs 436.69 crore in Q3 December 2016 over Q3 December 2015.

Phoenix Mills focuses on real estate development and entertainment.

Powered by Capital Market - Live News

Dilip Buildcon to hold board meeting
Feb 23,2017

Dilip Buildcon will hold a meeting of the Board of Directors of the Company on 28 February 2017, to Consider and approve Incorporation of New SPV as Wholly Owned Subsidiary.

Powered by Capital Market - Live News

Jigyasa Infrastructure to hold board meeting
Feb 23,2017

Jigyasa Infrastructure will hold a meeting of the Board of Directors of the Company on 27 February 2017.

Powered by Capital Market - Live News

Indo Amines to hold board meeting
Feb 23,2017

Indo Amines will hold a meeting of the Board of Directors of the Company on 27 February 2017, to approve the appointment of Mr. Madhav N. Nandgaonkar as an Independent Director of the Company.

Powered by Capital Market - Live News

Rajsanket Realty to hold board meeting
Feb 23,2017

Rajsanket Realty will hold a meeting of the Board of Directors of the Company on 28 February 2017, to consider and approve the allotment of Secured, Unlisted, Redeemable, Non - Convertible Debentures of the Company on receipt of monies, on private placement basis.

Powered by Capital Market - Live News

Housing finance stocks rise after Sebi ups MFs exposure limit
Feb 23,2017

GRUH Finance (up 3.42%), Dewan Housing Finance Corporation (up 2.79%), GIC Housing Finance (up 1.93%), PNB Housing Finance (up 0.99%), LIC Housing Finance (up 0.95%), Indiabulls Housing Finance (up 0.68%) and Can Fin Homes (up 0.23%), edged higher. HDFC was down 0.13%.

Meanwhile, the S&P BSE Sensex was up 95.86 points, or 0.33% at 28,960.57.

The capital market regulator, the Securities and Exchange Board of India (Sebi), has increased the additional permissible investment limit of debt mutual funds to invest in corporate bonds, sold by housing finance companies (HFCs).

In light of the role of HFCs especially in affordable housing and to further the Governments goal under Pradhan Mantri Aawas Yojana (PMAY), it has now been decided to increase additional exposure limits provided for HFCs in financial services sector from 10% to 15%, Sebi said in a statement.

Now, regulatory guidelines debar sectoral exposure in debt oriented mutual fund schemes with a cap of 25% at the sector level. An additional exposure not exceeding 10%, over and above the limit is allowed in financial services sector only to HFCs.

Mutual Funds/AMCs shall ensure that total exposure of debt schemes of mutual funds in a particular sector shall not exceed 25% of the net assets of the scheme, Sebi added.

The sector excludes investments in bank certificate of deposits (CDs), CBLO (Collataralised Borrowing and Lending Obligation), G-Secs, Treasury bills, short term deposits of scheduled commercial banks and top-rated rated securities issued by public financial institutions and public sector banks. This circular shall be applicable with immediate effect, Sebi said.

According to media reports, the enhancement in investment limits of MFs for HFCs will ensure meaningfully increased flow of capital for HFCs. It will strengthen HFCs ability to grow their home loans portfolio faster while offering the best possible rates to borrowers.

Powered by Capital Market - Live News