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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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Sadbhav Engineering hikes stake in subsidiary
Dec 21,2016

Sadbhav Engineering has acquired 10,50,000 shares (0.29%) of Sadbhav iIfrastructure Project, subsidiary of the Company.

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Shree Bhawani Paper Mills appoints director
Dec 21,2016

Shree Bhawani Paper Mills announced that the Board of Directors of the Company has appointed Anjoo Vinod as an Additional Director of the Company as per the provisions of Section 161 of the Companies Act, 2013.

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JRI Industries & Infrastructure reports standalone nil net profit/loss in the September 2016 quarter
Dec 21,2016

JRI Industries & Infrastructure reported no net profit/loss in the quarter ended September 2016 as against net profit of Rs 0.01 crore during the previous quarter ended September 2015. There were no Sales reported in the quarter ended September 2016 as against Rs 1.31 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales01.31 -100 OPM %00.76 - PBDT00.01 -100 PBT00.01 -100 NP00.01 -100

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NIIT Tech gains after entering into settlement agreement with Govt entity
Dec 21,2016

The announcement was made after market hours yesterday, 20 December 2016.

Meanwhile, the BSE Sensex was up 34.11 points, or 0.13%, to 26,342.09.

On the BSE, so far 21,000 shares were traded in the counter, compared with average daily volumes of 23,292 shares in the past one quarter. The stock had hit a high of Rs 440 and a low of Rs 426.50 so far during the day.

The stock hit a 52-week high of Rs 614.35 on 22 December 2015. The stock hit a 52-week low of Rs 370 on 9 November 2016. The stock had outperformed the market over the past 30 days till 20 December 2016, rising 7.86% compared with the 2.11% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 4.79% as against Sensexs 7.72% decline.

The small-cap company has equity capital of Rs 61.36 crore. Face value per share is Rs 10.

In Q1 June 2016, NIIT Technologies made a provision of Rs 36.13 crore for amounts outstanding in respect of a government contract, where the programme was put on hold to resolve certain project issues.

In the latest announcement, NIIT Technologies said that it has concluded the consultation process with the said government entity and has entered into a settlement agreement. Accordingly, this may result in partial reversal of the provision outlined in the said note in the current financial year.

On a consolidated basis, NIIT Technologies net profit rose 90.42% to Rs 59.60 crore on 3.30% increase in net sales to Rs 691.30 crore in Q2 September 2016 over Q1 June 2016.

NIIT Technologies is a global IT solutions organization addressing the requirements of clients across the Americas, Europe, Asia, and Australia. The company services clients in travel and transportation, banking and financial services, insurance, manufacturing, and media verticals, offering a range of services, including application development and maintenance, infrastructure management, and business process management.

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Prerna Infrabuild standalone net profit rises 1528.57% in the September 2016 quarter
Dec 21,2016

Net profit of Prerna Infrabuild rose 1528.57% to Rs 2.28 crore in the quarter ended September 2016 as against Rs 0.14 crore during the previous quarter ended September 2015. There were no Sales reported in the quarter ended September 2016 and during the previous quarter ended September 2015.

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Neo Corp International reports standalone net loss of Rs 3.63 crore in the September 2016 quarter
Dec 21,2016

Net loss of Neo Corp International reported to Rs 3.63 crore in the quarter ended September 2016 as against net profit of Rs 4.61 crore during the previous quarter ended September 2015. Sales declined 74.92% to Rs 47.80 crore in the quarter ended September 2016 as against Rs 190.58 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales47.80190.58 -75 OPM %-3.7010.42 - PBDT-1.807.48 PL PBT-6.344.98 PL NP-3.634.61 PL

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Tree House Education & Accessories announces resignation of directors
Dec 21,2016

Tree House Education & Accessories announced that

1. Chanakya Dhanda has resigned from the post of Independent Director of the Company w.e.f. 15 December 2016.

2. Ram Kumar Gupta has resigned from the post of Independent Director of the Company w.e.f. 16 December 2016.

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Bata India gains after introducing VRS at Faridabad unit
Dec 21,2016

The announcement was made during trading hours today, 21 December 2016.

Meanwhile, the BSE Sensex was up 67.82 points, or 0.26%, to 26,375.80

On the BSE, 24,000 shares were traded on the counter so far as against the average daily volumes of 46,651 shares in the past one quarter. The stock had hit a high of Rs 429.30 and a low of Rs 423 so far during the day.

The stock hit a 52-week high of Rs 613.55 on 1 August 2016. The stock hit a 52-week low of Rs 400 on 25 November 2016. The stock had underperformed the market over the past 30 days till 20 December 2016, rising 0.69% compared with the 2.11% rise in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 17.55% as against Sensexs 7.72% decline.

The mid-cap company has equity capital of Rs 64.26 crore. Face value per share is Rs 5.

Bata India said that companys board of directors at its meeting held today, 21 December 2016 considered and approved introduction of a voluntary retirement scheme (VRS) for all eligible employees/ workers at its Faridabad unit. The status of implementation of VRS and financial impact thereof will be ascertained and communicated in due course. The company believes that implementation of the VRS will be beneficial for it in the long term, Bata India said.

Bata Indias net profit fell 36.37% to Rs 34.59 crore on 2.98% fall in total income to Rs 597.82 crore in Q2 September 2016 over Q2 September 2015.

Bata India is the largest footwear retailer in India, offering footwear, accessories and bags across brands like Bata, Hush Puppies, Naturalizer, Power, Marie Claire, Weinbrenner, North Star, Scholl, Bata Comfit and Bubblegummers to name a few. It retails in over 1,265 Bata stores, on bata.in and in thousands of multi-brand footwear dealer stores pan-India.

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Muthoot Finance gains on bargain hunting
Dec 21,2016

Meanwhile, the S&P BSE Sensex was up 61.58 points, or 0.23%, to 26,369.56

On the BSE, 44,000 shares were traded on the counter so far as against the average daily volumes of 74,846 shares in the past one quarter. The stock had hit a high of Rs 277.70 and a low of Rs 264 so far during the day.

The stock hit a 52-week high of Rs 405.35 on 8 August 2016. The stock hit a 52-week low of Rs 170 on 18 January 2016. The stock had underperformed the market over the past 30 days till 20 December 2016, falling 7.69% compared with the 2.11% rise in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 26.55% as against Sensexs 7.72% decline.

The large-cap company has an equity capital of Rs 399.05 crore. Face value per share is Rs 10.

Muthoot Finances net profit rose 70.04% to Rs 296.72 crore on 21.61% increase in total income to Rs 1386.24 crore in Q2 September 2016 over Q2 September 2015.

Muthoot Finance is the largest gold financing company in India in terms of loan portfolio.

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RCom spurts after signing tower sale agreement with Brookfield Infra
Dec 21,2016

The announcement was made during trading hours today, 21 December 2016.

Meanwhile, the BSE Sensex was up 22.96 points, or 0.09%, to 26,330.94.

On the BSE, so far 40.11 lakh shares were traded in the counter, compared with average daily volumes of 16.09 lakh shares in the past one quarter. The stock had hit a high of Rs 38.50 and a low of Rs 35.50 so far during the day.

The stock hit a 52-week high of Rs 91.80 on 1 January 2016. The stock hit a record low of Rs 34.35 on 24 November 2016. The stock had underperformed the market over the past 30 days till 20 December 2016, falling 4.37% compared with the 2.11% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 26.67% as against Sensexs 7.72% decline.

The mid-cap company has equity capital of Rs 1,244.49 crore. Face value per share is Rs 5.

Reliance Communications (RCom) announced the signing of binding agreements with Brookfield Infrastructure in relation to the acquisition of RComs nationwide tower assets by affiliates of Brookfield Infrastructure Partners LP and its institutional partners. RCom will receive an upfront cash payment of Rs 11000 crore on completion of the transaction.

RComs telecom towers will be demerged into a separate new company that will be 100% owned and independently managed by Brookfield Infrastructure, thereby creating the second largest independent and operator-neutral towers company in India.

RCom said it will receive Class B non-voting shares in the new tower company, providing 49% future economic upside in the towers business, based on certain conditions. RCom expects significant future value creation from the B Class shares, based on growth in tenancies arising from increasing 4G rollout by all telecom operators and fast accelerating data consumption.

RCom will enjoy certain information and other rights, but will not be involved directly or indirectly in the management and operations of the new company. RCom and Reliance Jio will continue as major long term tenants of the new tower company, along with other existing third party telecom operators.

RCom said it will utilise the upfront cash payment of Rs 11000 crore solely to reduce its debt. The already announced combination of RComs wireless business with Aircel, and the monetization of the tower business, will together reduce RComs overall debt by Rs 31000 crore, or nearly 70% of existing debt. RCom will continue to hold 50% stake in the wireless business combination with Aircel and the 49% future economic upside in the towers business, and will monetise these valuable assets at an appropriate time in the future to further substantially reduce its overall debt.

The transaction is subject to applicable approvals, including inter alia, shareholder and regulatory approvals, lenders consents, etc.

Meanwhile, RCom) announced after market hours yesterday, 20 December 2016, that Fitch Ratings (Fitch), International rating agency, has revised the companys long-term foreign, local currency issuer default ratings and senior secured notes (Notes) ratings from BB- to B+. Fitch has also placed on rating watch negative and assigned a recovery rating of RR4 to the notes.

On a consolidated basis, net profit of Reliance Communications declined 80% to Rs 39 crore on 3.36% decline in net sales to Rs 5090 crore in Q2 September 2016 over Q2 September 2015.

RCom is an integrated telecommunications service provider.

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Outcome of board meeting of Indo Thai Securities
Dec 21,2016

Indo Thai Securities announced that the Board of Directors of the company at its meeting held on 21 December 2016 approved the following business -

Application to BSE to obtain Registration for Mutual Fund Distribution.

Authorisation to execute undertaking cum indemnity for hosting servers at third party data center(s)

Applying to the stock exchange for the approval of trading software of the Company.

Other business arsing out of above business and incidental and ancillary to the Companys business.

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Super Crop Safe gets license to manufacture and supply Spirulina
Dec 21,2016

Super Crop Safe announced that the Company has received from FSSAI (Food Safety and Standards Authority of India) License no: 10716009000385 issued on 16 December 2016 and valid till 15 December 2019 after successful inspection of manufacturing facilities of Spirulina and Compliance with the requirement of the FSSAI (Food Safety and Standards Authority of India). This will facilitate the Company to expand market of Spirulina and its product mix in domestic as well as international market.

Post this certification, SCSL will be able to garner additional business for its Spirulina based products in world market. This certification will help SCSL to build and sustained the growth by its Spirulina Business in coming years, by exploring the higher value added high margin market.

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Board of Bata India approves VRS for Faridabad Unit
Dec 21,2016

Bata India announced that at the Board Meeting of the Company held on 21 December 2016, the Board considered and approved introduction of a Voluntary Retirement Scheme (VRS) for all eligible employees/ workers at the Faridabad Unit of the Company.

Status of implementation of the aforesaid VRS and financial impact thereof will be ascertained and communicated in due course. The Company believes that implementation of the VRS will be beneficial to the Company in the long term.

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Welterman International announces resignation of director
Dec 21,2016

Welterman International announced that Madhavi H. Punjani, has resigned from her position as Independent Director from the Company w.e.f. 15 December 2016.

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Amal to consider Q3 and 9M results
Dec 21,2016

Amal announced that a meeting of Board of Directors of the Company will be held on 12 January 2017, to consider and approve the un-audited Financial Results of the Company for the quarter / nine months ended on 31 December 2016.

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