My Application Form Status

Check the status of your application form with Angel Broking.
  • Companies
  • Everything else
Search
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

Barak Valley Cements appoints company secretary and compliance officer
Nov 15,2016

Barak Valley Cements announced that Saakshi Manchanda has been appointed as the Company Secretary and Compliance Officer of the Company with effect from 14 November 2016.

Powered by Capital Market - Live News

Barak Valley Cements appoints company secretary and compliance officer
Nov 15,2016

Barak Valley Cements announced that Saakshi Manchanda has been appointed as the Company Secretary and Compliance Officer of the Company with effect from 14 November 2016.

Powered by Capital Market - Live News

Federal Bank gets RBI nod to open overseas branches
Nov 15,2016

Federal Bank announced that RBI has given its approval vide letter dated 08 November 2016 to open a representative office of the Bank in Manama, Bahrain and also to open a branch in DIFC, Dubai, UAE.

Powered by Capital Market - Live News

Federal Bank gets RBI nod to open overseas branches
Nov 15,2016

Federal Bank announced that RBI has given its approval vide letter dated 08 November 2016 to open a representative office of the Bank in Manama, Bahrain and also to open a branch in DIFC, Dubai, UAE.

Powered by Capital Market - Live News

Peninsula Land to announce September quarter results
Nov 15,2016

Peninsula Land announced that a meeting of the Board of Directors of the Company will be held on 23 November 2016, inter alia, to consider, approve and take on record the Unaudited Financial Results of the Company for the quarter and period ended 30 September 2016 along with Statement of Assets and Liabilities for the half-year ended on that date.

Powered by Capital Market - Live News

Peninsula Land to announce September quarter results
Nov 15,2016

Peninsula Land announced that a meeting of the Board of Directors of the Company will be held on 23 November 2016, inter alia, to consider, approve and take on record the Unaudited Financial Results of the Company for the quarter and period ended 30 September 2016 along with Statement of Assets and Liabilities for the half-year ended on that date.

Powered by Capital Market - Live News

Board of Burnpur Cement appoints director
Nov 15,2016

The Board of Burnpur Cement appointed Tapan Kumar Roy as director of the Company.

Powered by Capital Market - Live News

Board of Burnpur Cement appoints director
Nov 15,2016

The Board of Burnpur Cement appointed Tapan Kumar Roy as director of the Company.

Powered by Capital Market - Live News

Hire retired bank staff; others on big scale to deal with demonetisation: ASSOCHAM
Nov 15,2016

Assuring the government of India Incs support against corruption and black money, the ASSOCHAM today impressed upon the government to mobilise all resources across different departments and hire retired bank staff on a massive scale to expedite the currency swapping and withdrawal of cash with minimum inconvenience to the public.

n++Just like general elections when staff across different departments is mobilised; different types of staff can be used for helping the over-stretched banks , grappling with the huge task of dealing with the demonitised currency notes of Rs 500 and Rs 1,000 and dispensing the new notes. The best option appears to be employing the retired bank staff on a mass scale on short-term contracts of three to six months, the ASSOCHAM said in an appeal to the Prime Minister Mr Narendra Modi.

It said while some banks like the State Bank of India and a few others have roped in retired staff, the exercise should be done on a massive scale to deal with the situation.

n++While preference can be given by the banks to re-employ their own retired personnel, even cross - bank staff would be helpful. After all, functioning of the public sector banks is generally the same, the chamber Secretary General Mr D S Rawat said.

It said, the options should be explored to divert staff of other financial services wings and PSUs in the insurance sector for the banking operations for the moment.

The options of outsourcing the house-keeping services to the private sector for the orderly conduct of business at the bank branches should be explored. Such services can include helping the senior citizens; guiding those not familiar with the banking, and the general security upkeep. The local traders associations and market bodies like Azadpur Mandi, should also be involved in the exercise.

Powered by Capital Market - Live News

BPCL slips despite declaring good Q2 results
Nov 15,2016

The result was announced after market hours on Friday, 11 November 2016.

Meanwhile, the S&P BSE Sensex was down 205.20 points or 0.77% at 26,613.62

On BSE, so far 9,180 shares were traded in the counter as against average daily volume of 79,000 shares in the past two weeks. The stock hit a high of Rs 652.15 and a low of Rs 640.05 in intraday trade. The stock had hit a record high of Rs 694.75 on 18 October 2016. The stock had hit a 52-week low of Rs 366.10 on 23 February 2016.

The large-cap company has equity capital of Rs 1446.17 crore. Face value per share is Rs 10.

BPCLs average gross refining margin (GRM) rose to $4.56 per barrel in Q2 September 2016 over $3.08 per barrel in Q2 September 2015.

Seperately BPCL after market hours on Friday, 11 November 2016 announced formation of Joint Venture with GAIL Gas for a City Gas Distribution (CGD). Consortium of BPCL and GAIL Gas has been awarded the authorization for laying, building, operating and expanding of a City Gas Distribution Network (CGD Network) in the geographical area of North Goa by the Petroleum and Natural Gas Regulatory Board established under the PNGRB Act, 2006. The board of directors of the company has approved the proposal to form a new Joint Venture Company (JVC) for this purpose, BPCL said. The proposed JVC shall have equal equity participation from BPCL and Gail Gas and with a provision for equity stake of up to 10% for government of Goa or its nominee. The authorization provides exclusively for laying gas pipelines and related infrastructure in the GA over the next 25 years and a marketing exclusivity for 5 years. The CGD Network shall cater to the demand of CNG and Piped Natural Gas to consumers in the domestic, commercial and industrial segments.

BPCL is a state-run oil refining-cum-marketing company. The Government of India currently holds 54.93% stake in BPCL (as per the shareholding pattern as on 30 September 2016).

Powered by Capital Market - Live News

Board of Nexus Commodities And Technologies appoints director
Nov 15,2016

The Board of Nexus Commodities And Technologies appointed Ram Swaroop Joshi as an Additional Director of the Company.

Powered by Capital Market - Live News

Board of Nexus Commodities And Technologies appoints director
Nov 15,2016

The Board of Nexus Commodities And Technologies appointed Ram Swaroop Joshi as an Additional Director of the Company.

Powered by Capital Market - Live News

Board of Athena Constructions accepts resignation of company secretary
Nov 15,2016

The Board of Athena Constructions accepted the resignation of Gautami Chaudhari from the post of Compliance Office and Company Secretary of the Company.

Powered by Capital Market - Live News

Board of Athena Constructions accepts resignation of company secretary
Nov 15,2016

The Board of Athena Constructions accepted the resignation of Gautami Chaudhari from the post of Compliance Office and Company Secretary of the Company.

Powered by Capital Market - Live News

Board of Kridhan Infra appoints director
Nov 15,2016

The Board of Kridhan Infra appointed Amar Fadia as an Additional Director on the Board of the Company with effect from 14 November 2016.

Powered by Capital Market - Live News