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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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Board of Havells India approves purchase of Lloyd Electrics Consumer Durables Business
Feb 20,2017

Havells India announced that the Company in its Board Meeting held on 18 February 2017, has approved the purchase of Consumer Durables Business of Lloyd Electric and Engineering on a going concern basis, subject to due diligence and other regulatory approvals.

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Jaiprakash Power Ventures allots 305.80 crore equity shares
Feb 20,2017

Jaiprakash Associates announced that the Stakeholders Relationship Committee of Jaiprakash Power Ventures (JPVL), a subsidiary of the Company, in its meeting held 18 February 2017, has allotted 305,80,00,000 Equity Shares of Rs. 10/- each at a price of Rs. 10/- per share to its various lenders, upon approval of allocation of conversion of part of their outstanding debt amount into Equity Shares, pursuant to implementation of SDR.

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Havells Indian++in focus on plan to buy Lloyd Consumer for Rs 1600 crore
Feb 20,2017

Havells India announced that its board has approved the acquisition of Lloyd Consumer Durable Business Division (Lloyd Consumer). This acquisition, when completed, will mark Havells foray into consumer durables industry. The acquisition is proposed to be executed at an enterprise value of Rs 1600 crore on a debt free, cash free basis subject to closing adjustments. The announcement was made on Sunday, 19 February 2017.

Jaiprakash Associates said that the stakeholders relationship committee of Jaiprakash Power Ventures (JPVL), a subsidiary of the company, in its meeting held 18 February 2017, has allotted 305.80 crore equity shares at Rs 10 per share to its various lenders, upon approval of allocation of conversion of part of their outstanding debt amount into equity shares, pursuant to implementation of SDR. Lenders now hold 51% of the JPVLs capital, while holding of Jaiprakash Associates post issue fell to 29.74% from the earlier 60.69%. The announcement was made on Saturday, 18 February 2017.

Kotak Mahindra Bank (KMBL) in its clarification issued to the stock exchanges with respect to recent news article in media titled Kotak Mahindra, Axis Bank shares up on merger buzz said that it does not comment on speculation. The bank undertakes to comply with all its disclosure obligations, KMBL said. The announcement was made after market hours on Friday, 17 February 2017.

Shares of Ambuja Cements will be in spotlight as the company is scheduled to announce Q4 December 2016 results today, 20 February 2017.

Great Eastern Shipping Company (GE Shipping) said that its wholly owned subsidiary Greatship (India) (GIL) has sold and delivered its 1999 built platform supply vessel (PSV) Greatship Disha to the buyers. The announcement was made after market hours on Friday, 17 February 2017.

Religare Enterprises said that its indirect subsidiary Religare Wealth Management has entered into a definitive agreement with the Anand Rathi Group to sell its interests in its wealth management business. This transaction is subject to necessary approvals, Religare Enterprises (REL) said in a stock exchange notice. REL said the consideration is not being disclosed due to confidentiality obligations of Religare under the definitive agreements executed with the buyer. The expected date of completion of sale/disposal is 31 March 2017. Religare Wealth Management reported a revenue of Rs 24.84 crore in the financial year ended 2016. The announcement was made after market hours on Friday, 17 February 2017.

Bharat Petroleum Corporation (BPCL) said that its shareholders approved private placement of non-convertible bonds/debentures and/or other debt securities. In exercise of the said delegated authority, BPCL is planning to raise up to Rs 2,000 crore during the current financial year through private placement of secured non-convertible debentures subject to market conditions. The debentures are proposed to be listed on debt market segment of the BSE and NSE. The details of the issue viz., class of investors, issue price, tenor, interest rate etc. will depend on the market conditions which will be intimated on crystallization of the issue. The announcement was made after market hours on Friday, 17 February 2017.

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Prima Plastics commences commercial production at newly set up manufacturing plant
Feb 18,2017

Prima Plastics announced that the new plant for manufacturing of plastic moulded articles at Ongole with an installed capacity of 1500 tons per annum approximately has been completed and the commercial production and operations at Ongole have commenced with effect from 17 February 2017.

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Board of State Bank of Travancore approves raising upto Rs 600 crore
Feb 18,2017

State Bank of Travancore announced that the Executive Committee of the Board of Directors of the Bank in its meeting held on 18 February 2017 has approved the raising of up to Rs. 600 crore by way of issue of Basel III compliant Additional Tier I Bonds by private placement.

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Shivam Autotech gets revision in credit ratings
Feb 18,2017

Shivam Autotech has received revision in credit ratings from Credit Analysis & Research as under -

Long term bank facilities - CARE BBB+ (Revised from CARE A-)
Short term bank facilities - CARE A2+ (Revised from CARE A1)

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Board of Chartered Logistics accepts resignation of director
Feb 18,2017

Chartered Logistics announced that the Board of Directors at their Meeting held on 18 February 2017, considered and approved the following matters:

- Resignation of Nirzari Shah as an Independent Director of the Company w.e.f 18 February 2017.

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Williamson Financial Services to invest in preference shares of McNally Bharat Engineering Company
Feb 18,2017

Williamson Financial Services announced that the Company has decided to subscribe for not exceeding 15,151,515 Compulsorily Convertible Preference Shares of Rs. 10/- each at a price of Rs. 66/- per Share in the Private Placement Offer to be made by McNally Bharat Engineering Company .

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Himatsingka Seide incorporates subsidiary in England
Feb 18,2017

Himatsingka Seide has incorporated a wholly owned subsidiary in Europe namely n++Himatsingka Europen++, which is registered with the Registrar of Companies for England and Wales on 17 February 2017. This will help to strengthen the distribution network in Europe.

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Board of CIAN Agro Industries & Infrastructure approves acquisition of Jairam Infraventures
Feb 18,2017

CIAN Agro Industries & Infrastructure announced that the Board of Directors of the Company at its meeting held on 18 February 2017 approved to acquire entire 100% paid up equity share capital of Jairam Infraventure, comprising of 10000 equity shares of Rs 10 each at par to make it a wholly owned subsidiary of the Company.

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Williamson Magor & Company to invest in preference shares of McNally Bharat Engineering Company
Feb 18,2017

Williamson Magor & Company Ltd has informed BSE that the Company has decided to subscribe for not exceeding 15,151,515 Compulsorily Convertible Preference Shares of Rs. 10/- each at a price of Rs. 66/- per Share in the Private Placement Offer to be made by McNally Bharat Engineering Company.

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Gartner Says Worldwide Business Intelligence and Analytics Market to Reach $18.3 Billion in 2017
Feb 18,2017

Global revenue in the business intelligence (BI) and analytics software market is forecast to reach $18.3 billion in 2017, an increase of 7.3 percent from 2016, according to the latest forecast from Gartner, Inc. By the end of 2020, the market is forecast to grow to $22.8 billion.

According to Gartner, modern BI and analytics continues to expand more rapidly than the overall market, which is offsetting declines in traditional BI spending. The modern BI and analytics platform emerged in the last few years to meet new organizational requirements for accessibility, agility and deeper analytical insight, shifting the market from IT-led, system-of-record reporting to business-led, agile analytics including self-service.

The modern BI and analytics market is expected to decelerate, however, from 63.6 percent growth in 2015 to a projected 19 percent by 2020. Gartner believes this reflects data and analytics becoming mainstream. The market is growing in terms of seat expansion, but revenue will be dampened by pricing pressure.

Purchasing decisions continue to be influenced heavily by business executives and users who want more agility and the option for small personal and departmental deployments to prove success, said Rita Sallam, research vice president at Gartner. Enterprise-friendly buying models have become more critical to successful deployments.

Gartner believes the rapidly evolving modern BI and analytics market is being influenced by the following seven dynamics:

1. Modern BI at scale will dominate new buying n++ While business users initially flocked to new modern tools because they could be used without IT assistance, the increased need for governance will serve as the catalyst for renewed IT engagement. Modern BI tools that support greater accessibility, agility and analytical insight at the enterprise level will dominate new purchases.

2. New innovative and established vendors will drive the next wave of market disruption n++ The emergence of smart data discovery capabilities, machine learning and automation of the entire analytics workflow will drive a new flurry of buying because of its potential value to reduce time to insights from advanced analytics and deliver them to a broader set of people across the enterprise. While this smart wave is being driven by new innovative startups, traditional BI vendors that were slow to adjust to the current modern wave are driving it in some cases.

3. Need for complex datasets drives investments in data preparation n++ Business users want to analyze a diverse, often large and more complex combinations of data sources and data models, faster than ever before. The ability to rapidly prepare, clean, enrich and find trusted datasets in a more automated way becomes an important enabler of expanded use.

4. Extensibility and embeddability will be key drivers of expanded use and value n++ Both internal users and customers will either use more automated tools or will embed analytics in the applications they use in their context, or a combination of both. The ability to embed and extend analytics content will be a key enabler of more pervasive adoption and value from analytics.

5. Support for real-time events and streaming data will expand use n++ Organizations will increasingly leverage streaming data generated by devices, sensors and people to make faster decisions. Vendors need to invest in similar capabilities to offer buyers a single platform that combines real-time events and streaming data with other types of source data.

6. Interest in cloud deployments will continue to grow n++ Cloud deployments of BI and analytics platforms have the potential to reduce cost of ownership and speed time to deployment. However, data gravity that still tilts to the majority of enterprise data residing on-premises continues to be a major inhibitor to adoption. That reticence is abating and Gartner expects the majority of new licensing buying likely to be for cloud deployments by 2020.

7. Marketplaces will create new opportunities for organizations to buy and sell analytic capabilities and speed time to insight n++ The availability of an active marketplace where buyers and sellers converge to exchange analytic applications, aggregated data sources, custom visualizations and algorithms is likely to generate increased interest in the BI and analytics space and fuel its future growth.

Organizations will benefit from the many new and innovative vendors continuing to emerge, as well as significant investment in innovation from large vendors and venture capital-funded startups, said Ms. Sallam. They do, however, need to be careful to limit their technical debt that can occur when multiple stand-alone solutions that demonstrate business value quickly, turn into production deployments without adequate attention being paid to design, implementation and support.

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Lime Chemicals announces demise of Chairman
Feb 18,2017

Lime Chemicals announced about the sad demise of M.M. Gadgil, Chairman (Independent, Non-Executive Director) on 14 February 2017.

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Dilip Buildcon secures road project on NH-361 from NHAI
Feb 18,2017

Dilip Buildcon announced that a Letter of Award issued by National Highways Authority of India (Ministry of Road Transport & Highways, Government of India) to Dilip Buildcon for the Project Four Laning of Tuljapur-Ausa (Including Tuljapur Bypass) Section of NH-361 from Km 0.000 to km 55.835 under NHDP Phase IV on Hybrid Annuity Mode in the State of Maharashtra.

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Blue Star decides to incorporate subsidiary in Dubai Airport Free Zone
Feb 18,2017

Blue Star announced that in partial modification of the resolution passed by the Board of Directors of the Company at its meeting held on 10 November 2016, the Directors have approved change in location for incorporation of wholly owned subsidiary of the Company in Dubai Airport Free Zone instead of Dubai South.

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