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

Board of TTK Prestige recommends final dividend
May 31,2017

TTK Prestige announced that the Board of Directors of the Company at its meeting held on 30 May 2017, inter alia, have recommended the final dividend of Rs 12 per equity Share (i.e. 120%) , subject to the approval of the shareholders.

Powered by Capital Market - Live News

Board of Monte Carlo Fashions recommends final dividend
May 31,2017

Monte Carlo Fashions announced that the Board of Directors of the Company at its meeting held on 30 May 2017, inter alia, have recommended the final dividend of Rs 10 per equity Share (i.e. 100%) , subject to the approval of the shareholders.

Powered by Capital Market - Live News

Board of IRB Infrastructure Developers recommends dividend
May 31,2017

IRB Infrastructure Developers announced that the Board of Directors of the Company at its meeting held on 30 May 2017, inter alia, have recommended the dividend of Rs 3 per equity Share (i.e. 30%) , subject to the approval of the shareholders.

Powered by Capital Market - Live News

Board of Solar Industries India recommends final dividend
May 31,2017

Solar Industries India announced that the Board of Directors of the Company at its meeting held on 29 May 2017, inter alia, have recommended the final dividend of Rs 3 per equity Share (i.e. 150%) , subject to the approval of the shareholders.

Powered by Capital Market - Live News

Board of Mahindra & Mahindra recommends final dividend
May 31,2017

Mahindra & Mahindra announced that the Board of Directors of the Company at its meeting held on 30 May 2017, inter alia, have recommended the final dividend of Rs 13 per equity Share (i.e. 260%) , subject to the approval of the shareholders.

Powered by Capital Market - Live News

Board of Energy Development Company recommends final dividend
May 31,2017

Energy Development Company announced that the Board of Directors of the Company at its meeting held on 29 May 2017, inter alia, have recommended the final dividend of Rs 0.5 per equity Share (i.e. 5%) , subject to the approval of the shareholders.

Powered by Capital Market - Live News

Board of EIH Associated Hotels recommends final dividend
May 31,2017

EIH Associated Hotels announced that the Board of Directors of the Company at its meeting held on 29 May 2017, inter alia, have recommended the final dividend of Rs 4.5 per equity Share (i.e. 45%) , subject to the approval of the shareholders.

Powered by Capital Market - Live News

Board of Lakshmi Electrical Control Systems recommends final dividend
May 31,2017

Lakshmi Electrical Control Systems announced that the Board of Directors of the Company at its meeting held on 29 May 2017, inter alia, have recommended the final dividend of Rs 8 per equity Share (i.e. 80%) , subject to the approval of the shareholders.

Powered by Capital Market - Live News

Board of Info Edge (India) recommends final dividend
May 31,2017

Info Edge (India) announced that the Board of Directors of the Company at its meeting held on 29 May 2017, inter alia, have recommended the final dividend of Rs 1.5 per equity Share (i.e. 15%) , subject to the approval of the shareholders.

Powered by Capital Market - Live News

Board of PBM Polytex recommends final dividend
May 31,2017

PBM Polytex announced that the Board of Directors of the Company at its meeting held on 29 May 2017, inter alia, have recommended the final dividend of Rs 3 per equity Share (i.e. 30%) , subject to the approval of the shareholders.

Powered by Capital Market - Live News

Board of Finolex Industries recommends final dividend
May 31,2017

Finolex Industries announced that the Board of Directors of the Company at its meeting held on 26 May 2017, inter alia, have recommended the final dividend of Rs 11.5 per equity Share (i.e. 115%) , subject to the approval of the shareholders.

Powered by Capital Market - Live News

Board of ITC recommends final dividend
May 31,2017

ITC announced that the Board of Directors of the Company at its meeting held on 26 May 2017, inter alia, have recommended the final dividend of Rs 4.75 per equity Share (i.e. 475%) , subject to the approval of the shareholders.

Powered by Capital Market - Live News

Board of Hindustan Petroleum Corporation recommends final dividend
May 31,2017

Hindustan Petroleum Corporation announced that the Board of Directors of the Company at its meeting held on 26 May 2017, inter alia, have recommended the final dividend of Rs 1.1 per equity Share (i.e. 11%) , subject to the approval of the shareholders.

Powered by Capital Market - Live News

Moodys: Improving global growth outlook for 2017 appears sustainable as risks abate
May 31,2017

The improving outlook for global growth in 2017 appears to be sustainable as some of the biggest risks to advanced economies have subsided and emerging markets maintain their expansion, says Moodys Investors Service in a new report.

Moodys expects G20 economies, which account for 78% of the global economy, to collectively grow at an annual rate of 3.1% in 2017 and 2018, compared with growth of 2.6% in 2016. The US will rebound after a soft first quarter and its economy will expand around 2.4% this year, putting it among the fastest growing advanced economies.

Overall, global growth is looking increasingly sustainable with economic data surprising to the upside in a number of emerging market countries, said Madhavi Bokil, a Vice President and Senior Analyst at Moodys. The current momentum should continue, barring any negative surprises.

The risk to global trade and economic growth from the introduction of protectionist policies in the US appears to have receded for now and there has been a significant softening of the US administrations stance on what should be considered free and fair trade.

In the US, an overall increase in housing and business capital investment suggest that the first quarter slowdown will be temporary. Personal consumption, which grew 0.3% in the first quarter, will improve as the labor market continues to strengthen. Business sentiment, financial conditions and other economic indicators have all remained strong since the start of the year.

Economic momentum has undoubtedly picked up, especially in emerging market countries, said Elena Duggar, an Associate Managing Director at Moodys. But strength is likely to be held down by changing demographics, muted investment, low productivity growth and stagnant real wage growth.

Moreover, the lack of fiscal buffers and limited scope for effective monetary accommodation in the event of shocks remain a concern even as growth strengthens.

Powered by Capital Market - Live News

Chola MS General Insurance Raises INR 100cr of Tier 2 Capital to Fuel Growth in Fiscal 2017-18
May 31,2017

Cholamandalam MS General Insurance Company Limited has announced the successful private placement of 1,000 Unsecured, Subordinated, Fully Paid-up, Listed, Redeemable, Non-Convertible Debentures having face value of Rs. 10,00,000 each (the NCDs), at par, aggregating to Rs. 100 crores. The coupon rate is 8.75% per annum and a maturity period of 10 years with a call option after 5 years.

Mr. S S Gopalarathnam, MD & CEO, Chola MS General Insurance said, We have augmented our capital base by issuing subordinated debt, post the recent measures announced by the Insurance Regulatory and Development Authority of India (IRDAI), allowing alternative forms of capital. The funds raised through this issue would be used to fuel and facilitate business growth by further strengthening the Companys solvency. During Fiscal 2017-18, Chola MS is poised to grow its Gross Written Premium (GWP) to INR 4,500 cr - a growth of 40% over the last fiscal.

The NCDs have been assigned a credit rating AA+ (Outlook: Stable) by rating agencies CRISIL and ICRA.

The NCDs will be listed in National Stock Exchange of India Limited.

The issuance of these NCDs are in accordance with the provisions of inter alia the Insurance Regulatory and Development Authority of India (Other Forms of Capital) Regulations, 2015, as amended from time to time, which were notified in November 2015 whereby Indian insurers were allowed to raise additional capital through subordinated debt or preference shares

Powered by Capital Market - Live News