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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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Ingersoll-Rand (India) slips after weak Q1 results
Aug 03,2017

The result was announced after market hours yesterday, 2 August 2017.

Meanwhile, the S&P BSE Sensex was down 178.55 points, or 0.55% to 32,298.19.

On the BSE, 1,948 shares were traded in the counter so far, compared with average daily volumes of 3,746 shares in the past one quarter. The stock had hit a high of Rs 860.50 and a low of Rs 828 so far during the day. The stock hit a 52-week high of Rs 940 on 3 May 2017. The stock hit a 52-week low of Rs 645 on 31 January 2017.

The stock had underperformed the market over the past one month till 2 August 2017, rising 1.36% compared with 4.06% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 5.37% as against Sensexs 7.80% rise. The scrip had also underperformed the market in past one year, rising 15.36% as against Sensexs 17.26% rise.

The small-cap company has equity capital of Rs 31.57 crore. Face value per share is Rs 10.

Ingersoll-Rand (India) is primarily engaged in the business of manufacturing and sale of industrial air compressors of various capacities and related services, and its complete machines and spare parts.

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ICICI Bank allots 95,360 equity shares
Aug 03,2017

ICICI Bank has allotted 95,360 equity shares under ESOS on 31 July 2017.

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Five stocks drop ex-dividend
Aug 03,2017

Meanwhile, the S&P BSE Sensex was down 170.28 points or 0.52% at 32,306.46.

Fairchem Speciality fell 1.7% to Rs 440 as the stock turned ex-dividend today, 3 August 2017, for dividend of Rs 1 per share for the year ended 31 March 2017. Before turning ex-dividend, the stock offered a dividend yield of 0.22% based on the closing price of Rs 447.60 on BSE yesterday, 2 August 2017.

Quick Heal Technologies lost 1.23% to Rs 209.55 as the stock turned ex-dividend today, 3 August 2017, for dividend of Rs 2.50 per share for the year ended 31 March 2017. Before turning ex-dividend, the stock offered a dividend yield of 1.18% based on the closing price of Rs 212.15 on BSE yesterday, 2 August 2017.

HCL Technologies fell 1.12% to Rs 873.80 as the stock turned ex-dividend today, 3 August 2017, for interim dividend of Rs 2 per share for the year ending 31 March 2018. Before turning ex-dividend, the stock offered a dividend yield of 0.23% based on the closing price of Rs 883.70 on BSE yesterday, 2 August 2017.

Mindteck (India) lost 0.92% to Rs 75.80 as the stock turned ex-dividend today, 3 August 2017, for dividend of Rs 1 per share for the year ended 31 March 2017. Before turning ex-dividend, the stock offered a dividend yield of 1.31% based on the closing price of Rs 76.5 on BSE yesterday, 2 August 2017.

Kajaria Ceramics fell 0.49% to Rs 654.75 as the stock turned ex-dividend today, 3 August 2017, for dividend of Rs 3 per share for the year ended 31 March 2017. Before turning ex-dividend, the stock offered a dividend yield of 0.46% based on the closing price of Rs 657.95 on BSE yesterday, 2 August 2017.

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Board of GTPL Hathway recommends final dividend
Aug 03,2017

GTPL Hathway announced that the Board of Directors of the Company at its meeting held on 1 August 2017, inter alia, have recommended the final dividend of Rs 1 per equity Share (i.e. 10%) , subject to the approval of the shareholders.

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Thacker & Company to announce Quarterly Result
Aug 03,2017

Thacker & Company will hold a meeting of the Board of Directors of the Company on 11 August 2017 Quarterly Results

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Bharat Bijlee to convene board meeting
Aug 03,2017

Bharat Bijlee will hold a meeting of the Board of Directors of the Company on 24 August 2017, to approve the Unaudited Financial Results for the quarter ended June 30, 2017

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JBF Industries to conduct board meeting
Aug 03,2017

JBF Industries will hold a meeting of the Board of Directors of the Company on 10 August 2017, to Consider Unaudited Financial Statements for the quarter ended on 30th June, 2017.

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Prime MinisterGÖs Employment Generation Programme (PMEGP) provides employment to an estimated 35.48 lakh persons since 2008-09 till 2016-17
Aug 03,2017

Prime Ministers Employment Generation Programme (PMEGP) is a credit-linked subsidy programme aimed at generating self-employment opportunities through establishment of micro-enterprises in the non-farm sector by helping traditional artisans and unemployed youth. Any individual above 18 years of age is eligible. For setting up of projects costing above Rs.10 lakh in the manufacturing sector and above Rs. 5 lakh in the business /service sector, the beneficiaries should possess at least VIII standard pass educational qualification. General category beneficiaries can avail of margin money subsidy of 25 % of the project cost in rural areas and 15% in urban areas. For beneficiaries belonging to special categories such as scheduled caste/scheduled tribe/OBC /minorities/women, ex-serviceman, physically handicapped, NER, Hill and Border areas etc. the margin money subsidy is 35% in rural areas and 25% in urban areas.

The Scheme was launched during 2008-09. A total of 4.23 lakh micro enterprises have been assisted with a margin money subsidy of Rs 8695.27 crore providing employment to an estimated 35.48 lakh persons since 2008-09 till 2016-17 across the country including the State of Maharashtra.

The State/UT-wise details of number of micro units setup and Margin Money disbursed under PMEGP during the last two years is given as Annexure-I.

Details of the target fixed/achieved during last three years in Maharashtra State are as follows:

  (Rs. In lakh)

     YearTargetAchievementProjectsMargin MoneyEmployment GenerationProjectsMargin Money disbursedEmployment Generated2015-1648609718.423888024975285.03201612016-1730566111.302444823256001.3617799

Following steps have been taken by the Government for effective implementation of PMEGP

Scheme and achieving the targets:

In order to streamline the process of application flow and fund flow and to bring in transparency and better financial management and to prevent parking of funds at Nodal bank level an online PMEGP-MIS web portal has been introduced. All applications and fund flow will be processed online in stipulated time frame. 

Publicity is being made through print and electronic media, awareness camps at District level and State level are being organized in order to propagate the PMEGP scheme for the development of micro industries. 

Exhibitions are also conducted at district/state/zone and national level for providing       marketing support to the entrepreneurs/units. 

For speedy completion of EDP training, these are being conducted through    Departmental Training Centres as well as RSETIs/RUDSETIs as per MOU executed between KVIC & MCR.

Industries such as Khadi, processing of Pashmina Wool, handloom and power loom units, value added products for tea, coffee, rubber etc. and transport activities are now eligible for funding under PMEGP.

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Prime Ministers Employment Generation Programme (PMEGP) provides employment to an estimated 35.48 lakh persons since 2008-09 till 2016-17
Aug 03,2017

Prime Ministers Employment Generation Programme (PMEGP) is a credit-linked subsidy programme aimed at generating self-employment opportunities through establishment of micro-enterprises in the non-farm sector by helping traditional artisans and unemployed youth. Any individual above 18 years of age is eligible. For setting up of projects costing above Rs.10 lakh in the manufacturing sector and above Rs. 5 lakh in the business /service sector, the beneficiaries should possess at least VIII standard pass educational qualification. General category beneficiaries can avail of margin money subsidy of 25 % of the project cost in rural areas and 15% in urban areas. For beneficiaries belonging to special categories such as scheduled caste/scheduled tribe/OBC /minorities/women, ex-serviceman, physically handicapped, NER, Hill and Border areas etc. the margin money subsidy is 35% in rural areas and 25% in urban areas.

The Scheme was launched during 2008-09. A total of 4.23 lakh micro enterprises have been assisted with a margin money subsidy of Rs 8695.27 crore providing employment to an estimated 35.48 lakh persons since 2008-09 till 2016-17 across the country including the State of Maharashtra.

The State/UT-wise details of number of micro units setup and Margin Money disbursed under PMEGP during the last two years is given as Annexure-I.

Details of the target fixed/achieved during last three years in Maharashtra State are as follows:

n++ (Rs. In lakh)

n++n++n++n++ YearTargetAchievementProjectsMargin MoneyEmployment GenerationProjectsMargin Money disbursedEmployment Generated2015-1648609718.423888024975285.03201612016-1730566111.302444823256001.3617799

Following steps have been taken by the Government for effective implementation of PMEGP

Scheme and achieving the targets:

In order to streamline the process of application flow and fund flow and to bring in transparency and better financial management and to prevent parking of funds at Nodal bank level an online PMEGP-MIS web portal has been introduced. All applications and fund flow will be processed online in stipulated time frame.n++

Publicity is being made through print and electronic media, awareness camps at District level and State level are being organized in order to propagate the PMEGP scheme for the development of micro industries.n++

Exhibitions are also conducted at district/state/zone and national level for providing n++n++n++n++n++ marketing support to the entrepreneurs/units.n++

For speedy completion of EDP training, these are being conducted through n++n++ Departmental Training Centres as well as RSETIs/RUDSETIs as per MOU executed between KVIC & MCR.

Industries such as Khadi, processing of Pashmina Wool, handloom and power loom units, value added products for tea, coffee, rubber etc. and transport activities are now eligible for funding under PMEGP.

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EIH director resigns
Aug 03,2017

EIH announced that Renu Sud Karnad, Independent Director has resigned from the Board of Directors of the Company with immediate effect.

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Empee Distilleries to conduct board meeting
Aug 03,2017

Empee Distilleries will hold a meeting of the Board of Directors of the Company on 9 August 2017.

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Panoramic Universal announces board meeting date
Aug 03,2017

Panoramic Universal will hold a meeting of the Board of Directors of the Company on 10 August 2017, to inter-alia consider and approve Standalone and Consolidated Audited Financial Statement for the year ended 31st March, 2017 and Unaudited Standalone & Consolidated Financial Results for the quarter ended 30th June, 2017.

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Greenlam Industries to hold board meeting
Aug 03,2017

Greenlam Industries will hold a meeting of the Board of Directors of the Company on 9 August 2017, to consider and approve the Un-audited Standalone and Consolidated Financial Results of the Company for the quarter ended June 30, 2017.

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Bajaj Finance to invest Rs 225 cr in One MobiKwik Systems
Aug 03,2017

Bajaj Finance announced that the Company has entered into a Subscription Agreement with One MobiKwik Systems (MobiKwik) for acquisition of 10 Equity shares and 271,050 compulsory convertible preference shares (CCPS).

Post conversion of CCPS, the Company would hold approximately 10.83% of equity in MobiKwik on a fully diluted basis. The value of the transaction envisaged is approximately Rs. 225 crore and the conclusion of the transaction is subject to fulfillment of certain conditions in due course. The Company has also entered into a Shareholders Agreement which would become effective on conclusion of the above investment transaction.

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Trade Related Entrepreneurship Development Assistance Scheme (TREAD) women entrepreneurship programme
Aug 03,2017

Trade Related Entrepreneurship Development Assistance Scheme (TREAD) envisages economic empowerment of women. There is a provision of Govt of India Grant upto 30% of Loan/credit sanctioned subject to maximum ceiling of 30 Lakhs to NGOs as appraised by Lending Institutes/Banks for undertaking capacity building activities such as Training, counselling, Participation in exhibitions, establishment of new SHGs etc and other components as approved by Bank/Steering Committee.

The non-farming activities taken up by women are Tailoring, Handicrafts, Embroidery, Toy making, Readymade garments, Candle making, Agarbatti making, paper cup and plate making, Masala powder making, Saree weaving, Coir mat making, Pickles making, Readymade garments, basketry and brooms making, Jute bag making etc.

The focus of the scheme is to promote self-employment and income generation activities for women mostly from SHG groups in non-farm sector.

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