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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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Coal India to hold board meeting
Feb 21,2017

Coal India will hold a meeting of the Board of Directors of the Company on 6 March 2017, to consider payment of Interim Dividend, if any, for the year 2016-17.

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Choksi Laboratories to hold board meeting
Feb 21,2017

Choksi Laboratories will hold a meeting of the Board of Directors of the Company on 1 March 2017, to appoint Ms. Himika Choksi as Additional Director of the Company.

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Shreejal Info Hubs to hold board meeting
Feb 21,2017

Shreejal Info Hubs will hold a meeting of the Board of Directors of the Company on 28 February 2017, to consider the resignation of Priti Vora as the Director of the Company. She has already sent the resignation dated February 07, 2017.

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Disa India provides update on parent company, Norican Global A/S, Denmark
Feb 21,2017

Disa Indias parent company, Norican Global A/S, Denmark have entered into an agreement with Auctus Fund III GmbH & Co. KG to purchase 100% of Auctuss shares in Light Metal Casting Solutions Group (LMCS).

LMCS is a group of leading capital equipment manufacturers and services providers for the light metal casting industry, processing aluminium, magnesium and zinc alloys with major operations in Germany, Italy, Poland, China and the US.

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Flex Foods announces resignation of director
Feb 21,2017

Flex Foods announced that Shefali Dubey, Director of the Company has resigned due to personal reasons from the Board w.e.f. 21 February 2017.

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Gulf Oil Lubricants India gets reaffirmation of rating for LT bank facilities
Feb 21,2017

Gulf Oil Lubricants India has received reaffirmation of rating of CARE AA-/ Stable for long term bank facilities from Credit Analysis and Research.

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Standard Operating Procedure for protection and care of children in street situations launched
Feb 21,2017

A Standard Operating Procedure (SOP) for Care and Protection of Children in Street Situations for their rehabilitation and safeguarding was released by Minister for Women & Child Development, Smt Maneka Sanjay Gandhi.

The NCPCR decided to outline a detailed intervention framework for care and protection of children living in street situation as the problems faced by these children are multi-dimensional and complex. The SOP aims at streamlining the interventions within the current legal and policy framework. The purpose of the SOP is to identify processes that should be set in motion once a child on the street has been identified as a child in need. These processes would be within the existing framework of rules and policies and would create a convergence of the various agencies. Besides it also provides a step-by-step guideline for all the stakeholders for care, protection and rehabilitation of these children.

Speaking about the release of the SOP, Smt. Maneka Gandhi said, n++Our government is committed to the well-being of every child in India. This initiative will help the Government to ensure that health education and protection mechanisms are made available to children living on the streets.

The SOP was drafted after taking into consideration a detailed field research study with inputs received from regional consultations held at Patna, Lucknow, Hyderabad and Mumbai from 35 NGOs. Children who survived from the street were also consulted in Delhi at NCPCR before drafting of the SOP.

Children living in the streets are among the most vulnerable groups. Most of these children have little or no adult supervision and protection. They also do not have access to education and basic health care living a life of struggle for survival. The lack of basic care and protection exposes them to abuse, exploitation and neglect depriving them of the most basic human rights.

Cities in India are witnessing rapid urbanization. By 2030, 40% of Indias population is expected to be living in urban areas which mean that child population in streets will continue to grow. Therefore, it is important to integrate the needs of children in street situations into urban policies and planning. A 2016 survey by Save the Children in Lucknow, Mughalsarai, Kolkata- Howrah, Patna and Hyderabad found 84,563 children living on the streets. An older study by the same organization in Delhi put their number at 50,000.

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Arvind SmartSpaces allots 10,000 equity shares
Feb 21,2017

Arvind SmartSpaces has issued and allotted 10,000 equity shares of Rs. 10/- each under Arvind Infrastructure (now Arvind SmartSpaces) - Employee Stock Option Scheme 2013 (AIL ESOP 2013) to the eligible employee/s on 21 February 2017 pursuant to the exercise of options granted to him/them.

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Board of Cybertech Systems and Software appoints director
Feb 21,2017

Cybertech Systems and Software announced that the Board of the Directors of the Company through circular resolution have approved the appointment of Willem Elfrink, as an Additional Director (Non-Executive & Non-Independent) on the Board of Directors of the Company with effect from 21 February 2017, to hold office up to the date of the ensuing Annual General Meeting of the Company.

Further, Willem Elfrinks appointment as a Non Executive Director and his term of office are subject to approval of the shareholders at the ensuing Annual General Meeting of the Company.

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Radico Khaitan gains on report of stake sale
Feb 21,2017

Meanwhile, the BSE Sensex was up 84.26 points, or 0.29%, to 28,745.84.

On the BSE, so far 6.22 lakh shares were traded in the counter, compared with average daily volumes of 1.03 lakh shares in the past one quarter.

Trading was volatile on the counter. The stock jumped 6.46% to hit the days high of Rs 142.50 so far during the day. The stock hit a low of Rs 131.05 so far during the day.

The stock hit a 52-week high of Rs 151 on 1 November 2016. The stock hit a 52-week low of Rs 84 on 24 May 2016.

The small-cap company has equity capital of Rs 26.61 crore. Face value per share is Rs 2.

Radico Khaitan, however, clarified to the bourses during tradiing hours today, 21 February 2017, that the news item is factually incorrect and the company is not aware of any information that has not been announced to the stock exchanges, which could explain the movement in the trading of the companys shares.

Net profit of Radico Khaitan declined 22.35% to Rs 19.70 crore on 3.40% rise in net sales to Rs 405.89 crore in Q3 December 2016 over Q3 December 2015.

Radico Khaitan is one of the largest players in the Indian spirits industry. Radico Khaitan operates three distilleries and one joint venture with total capacity of 150 million litres. It also has 33 bottling units spread across the country.

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Bharat Electronics gains after outperform rating by foreign brokerage
Feb 21,2017

Meanwhile, the S&P BSE Sensex was up 129.08 points or 0.45% at 28,790.66.

On the BSE, 26,000 shares were traded on the counter so far as against the average daily volumes of 46,337 shares in the past one quarter. The stock had hit a high of Rs 1,569.55 and a low of Rs 1,535 so far during the day.

The stock had hit a record high of Rs 1,624.30 on 30 January 2017 and a 52-week low of Rs 1,009 on 1 March 2016. The stock had underperformed the market over the past one month till 20 February 2017, advancing 4.07% compared with the Sensexs 6.02% rise. The scrip had, however, outperformed the market over the past one quarter, gaining 17.2% as against the Sensexs 9.6% rise.

The large-cap company has equity capital of Rs 223.36 crore. Face value per share is Rs 10.

The brokerages target price of Rs 1,800 is at a premium of 15.07% over Bharat Electronics ruling market price.

Bharat Electronics net profit rose 33.3% to Rs 373.54 crore on 32.9% growth in net sales to Rs 2091.47 crore in Q3 December 2016 over Q3 December 2015.

Bharat Electronics was established at Bangalore, India, by the Government of India under the Ministry of Defence in 1954 to meet the specialised electronic needs of the Indian defence services. Over the years, it has grown into a multi-product, multi-technology, multi-unit company servicing the needs of customers in diverse fields in India and abroad.

The Government of India held 74.41% stake in Bharat Electronics (as per the shareholding pattern as on 31 December 2016).

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Kamat Hotels (India) reports standalone net profit of Rs 29.70 crore in the December 2016 quarter
Feb 21,2017

Net profit of Kamat Hotels (India) reported to Rs 29.70 crore in the quarter ended December 2016 as against net loss of Rs 78.27 crore during the previous quarter ended December 2015. Sales rose 9.16% to Rs 41.35 crore in the quarter ended December 2016 as against Rs 37.88 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales41.3537.88 9 OPM %39.5925.69 - PBDT17.315.87 195 PBT14.122.65 433 NP29.70-78.27 LP

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Rajesh Solvex reports standalone net profit of Rs 0.01 crore in the December 2016 quarter
Feb 21,2017

Net profit of Rajesh Solvex reported to Rs 0.01 crore in the quarter ended December 2016 as against net loss of Rs 0.32 crore during the previous quarter ended December 2015. Sales reported to Rs 0.99 crore in the quarter ended December 2016. There were no Sales reported during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales0.990 0 OPM %15.150 - PBDT0.05-0.28 LP PBT0.01-0.32 LP NP0.01-0.32 LP

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Board of RLF approves change in directorate
Feb 21,2017

RLF announced that the Board of Directors of the Company in its meeting held on 14 February 2017 has appointed to Ashish Khanna as an additional director w.e.f. 14 February 2017.

Arun Kumar Lamba, Director of the Company has resigned w.e.f. 14 February 2017.

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Ambuja Cements standalone net profit rises 59.95% in the December 2016 quarter
Feb 21,2017

Net profit of Ambuja Cements rose 59.95% to Rs 175.88 crore in the quarter ended December 2016 as against Rs 109.96 crore during the previous quarter ended December 2015. Sales declined 6.76% to Rs 2196.66 crore in the quarter ended December 2016 as against Rs 2355.81 crore during the previous quarter ended December 2015.

For the full year,net profit rose 20.13% to Rs 970.09 crore in the year ended December 2016 as against Rs 807.56 crore during the previous year ended December 2015. Sales declined 2.22% to Rs 9160.40 crore in the year ended December 2016 as against Rs 9368.30 crore during the previous year ended December 2015.

ParticularsQuarter EndedYear Endedn++Dec. 2016Dec. 2015% Var.Dec. 2016Dec. 2015% Var. Sales2196.662355.81 -7 9160.409368.30 -2 OPM %14.9813.91 -18.3716.35 - PBDT356.53392.78 -9 2187.441797.87 22 PBT200.27228.65 -12 1337.311172.21 14 NP175.88109.96 60 970.09807.56 20

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