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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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Pix Transmission to pay dividend
May 15,2017

Pix Transmission announced that dividend, if declared will be paid on or before 26 October 2017.

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Board of Jyoti accepts resignation of CFO
May 15,2017

The Board of Directors of Jyoti has accepted the resignation of Jayesh Verma, Chief Financial Officer with effect from 30 June 2017.

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Board of S R G Securities Finance accepts resignation of directors
May 15,2017

S R G Securities Finance announced that the Board of Directors of the Company at its meeting held on 13 May 2017 has accepted the resignation of Bhupesh Kumar Jain from the position of Non-Executive Independent Director of the Company due to some prior commitments.

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NBCC (India) gains after good order inflow in April 2017
May 15,2017

The announcement was made after market hours on Friday, 12 May 2017.

Meanwhile, the S&P BSE Sensex was up 121.88 points, or 0.40% to 30,310.03.

On the BSE, 17,000 shares were traded in the counter so far, compared with average daily volumes of 2.58 lakh shares in the past one quarter. The stock had hit a high of Rs 196.75 and a low of Rs 194.95 so far during the day. The stock hit a record high of Rs 205.75 on 28 April 2017. The stock hit a 52-week low of Rs 117.73 on 24 June 2016.

The stock had outperformed the market over the past one month till 12 May 2017, rising 9.11% compared with 2.47% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 3.58% as against Sensexs 6.54% rise.

The large-cap company has equity capital of Rs 180 crore. Face value per share is Rs 2.

On a consolidated basis, NBCC (India)s net profit rose 15.9% to Rs 64.42 crore on 4% increase in net sales to Rs 1413.77 crore in Q3 December 2016 over Q3 December 2015.

NBCC (India) is a blue-chip Government of India (GoI) Navratna Enterprise under the Ministry of Urban Development, in construction sector. The GoI held 75% stake in the firm (as per shareholding pattern as on 22 February 2017).

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D-Link tumbles after reverse turnaround in Q4
May 15,2017

The result was announced after market hours on Friday, 12 May 2017.

Meanwhile, the S&P BSE Sensex was up 94.37 points or 0.31% at 30,282.52.

On the BSE, 1.16 lakh shares were traded on the counter so far as against the average daily volumes of 1 lakh shares in the past one quarter. The stock had hit a high of Rs 122.70 and a low of Rs 114.90 so far during the day.

The stock had hit a 52-week high of Rs 154 on 10 April 2017 and a 52-week low of Rs 75.25 on 21 September 2016. It had underperformed the market over the past one month till 12 May 2017, sliding 2.31% compared with the Sensexs 1.84% rise. The scrip had, however, outperformed the market over the past one quarter, advancing 18.68% as against the Sensexs 6.54% rise.

The small-cap company has equity capital of Rs 7.10 crore. Face value per share is Rs 2.

The companys net sales declined 17.3% to Rs 154.75 crore in Q4 March 2017 over Q3 December 2016.

D-Link (India) is engaged in the design, manufacture and marketing of advanced networking, broadband, digital, voice and data communications solutions.

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Board of Gujarat Ambuja Exports accepts resignation of JMD
May 15,2017

Gujarat Ambuja Exports announced that the Board of Directors of the company at its meeting held on 13 May 2017 has accepted the resignation of Mohit Gupta from position of Joint Managing Director and Director of the Company, due to his personal reasons with effect from 31 May 2017.

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Outcome of board meeting of Sunil Hitech Engineers
May 15,2017

Sunil Hitech Engineers announced that the Board of Directors of the Company at its meeting held on 12 May 2017 has approved the following -

Increase in authorised capital from Rs 60 crore to Rs 80 crore.

Issue of 12.40 crore convertible warrants on preferential basis to promoters and non-promoters.

To raise funds up to Rs 250 crore through rights issue, private placement, ADRs, GDRs, FCCBs.

Shifting of Registered office to 72, 7-Floor, Plot 15-A, Sagar Tarang CHS, Khan Abdul Gaffar Khan Marg, Worli Seaface, Worli Colony, Mumbai - 400 030.

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National Plastic Industries appoints director
May 15,2017

National Plastic Industries has appointed Harsh Parekh as the Additional Director of the Company with effect from 1 June 2017 at board meeting held on 13 May 2017.

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Board of National Plastic Industries appoints director
May 15,2017

National Plastic Industries announced the appointment of Harsh Parekh as the Additional Director of the Company with effect from 1 June 2017 at board meeting held on 13 May 2017.

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UJALA - UK (UK Joins Affordable LEDs for All) by Energy Efficiency Services Ltd. (EESL) in launched
May 15,2017

Worlds largest efficient lighting programme, UJALA - UK (UK Joins Affordable LEDs for All) by Energy Efficiency Services Ltd. (EESL) launched in London, United Kingdom. During the event, MoUs were signed between Indian High Commission and EESL and between the British Electrotechnical and Allied Manufacturers Association (BEAMA) and the Indian Electrical and Electronic Manufacturers Association (IEEMA) to strengthen bilateral industry cooperation and exchanges between India and the UK.

Informing about the scale at which the EESL LED programme is expanding, the Union Minister of State (IC) for Power, Coal, New & Renewable Energy and Mines, Shri Piyush Goyal said that, the EESL LED programme in India has grown 140 times in less than 2 years and I dont think we will find any parallel to that anywhere in the world. EESL would achieve the turnover target of $1.5 million by 2019, concomitant with the Government of Indias target under the UDAY scheme and 100% rural household electrificationn++. Shri Goyal further stated that even in the Developed countries like the US and Europe, there is a great potential for incorporating energy efficiency measures like the EESL LED programme, especially looking at the climate change scenario in the present context. Indias share in the Global LED market has increased from a mere 0.1% a few years back to around 16% today, it was informed.

Talking about the potential energy savings by implementing the LED programme in India, Shri Goyal said that lighting alone consists of 15% of the total energy needs of the population across the country, especially the lower middle class families, which is about 180 billion units of energy. As India moves towards becoming a 100% LED Nation, the potential savings would be around 112 billion units, in other terms reducing carbon dioxide emissions by nearly 79 million tonnes every year. Consequently, Indias peak load will reduce by about 20 GW and our consumers will save around $6.5 billion worth in electricity bills annually, the Minister added.

Describing the strategy for scaling up the LED penetration in UK, Shri Goyal said that India was able to significantly reduce the purchase price of the LED by increasing efficiency and not giving subsidies to the consumers. The scheme has sustained itself on the savings achieved by increasing energy efficiency in the whole lifecycle of the LED bulbs. n++Government of India has fine tuned the process, brought down the costs of manufacturing and sold nearly 230 million LED bulbs whereas the private sector, in the same period, sold about 330 million LED bulbs, effectively replacing about 560 million incandescent bulbs in the last 2 years. The consumers are the direct beneficiaries by saving on electricity bills and reducing the carbon footprint on the environment for the future generations, he added.

The Minister requested the Government of UK to get EESL in touch with all the stakeholders like local distribution companies, e-commerce companies, hotels, industry, large businesses, supermarket chains etc. and replicate Indias model in the UK so as to achieve a similar kind of scale up that the programme has witnessed in India as a zero investment model. He stressed that a massive deployment of this LED programme throughout the world will go a long way in fighting climate change and make the world a better place to live in for the future generations. The Minister urged all the dignitaries present to become ambassadors of this Energy Efficiency programme for a better tomorrow.

The Minister also suggested to the Government of the UK a target of replacing at least 100 million incandescent bulbs with LEDs by March 2019 and reduce the individual household consumption of energy by at least half. Further, it was informed that as a beginning to UJALA-UK operations, EESL has started the retrofitting of the facade and other lights of the High Commission of India in UK and the India House which would lead to considerable energy savings. EESLs engagement with the UK will cover a broad spectrum including marketing of the world class energy efficiency products, services, investments and raising capital, scouting for new energy efficiency technologies and partnering with British companies to establish presence in third world country markets.

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Natco Economicals announces resignation of director
May 15,2017

Natco Economicals announced that Dhvani Contractor has tendered her Resignation as an Independent woman Director with effect from 13 May 2017.

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Hindustan Composite fixes record date for stock split and bonus issue
May 15,2017

Hindustan Composite announced that the Record Date has been fixed as 26 May 2017 for the purpose of ascertaining the eligibility of shareholders for: 1) Sub-division of existing 1 (One) equity share having face value of Rs. 10/- (Rupees Ten only) each fully paid-up into 2 (Two) equity shares having face value of Rs. 5/- (Rupees Five only) each; and 2) Issue of bonus shares in proportion of 1:2 {i.e. 1 new bonus equity share of Rs. 5/- (Rupees Five only) each for every 2 (Two) equity shares of Rs. 5/- (Rupees Five only) each held) (Post split face value per equity share).

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Outcome of board meeting of J K Cements
May 15,2017

The Board of Directors of J K Cements in their Board Meeting held on 13 May 2017 has interalia: -

1.Approved audited standalone and consolidated result for year ended 31 March 17.

2.Recommended a dividend of Rs. 8 (Rupees eight only) per equity share for the F.Y 16-17.

3.The Register of Members and Share Transfer Books will remain closed from Thursday the 20 July 2017 to Saturday 29 July 2017 (both day inclusive). Record date for dividend is fixed on 29 July, 2017.

4.23rd AGM of the Company will be held on Saturday the 29 July, 2017 at Kanpur at 12.30 P.M.

5.M/s. S. R. Batliboi & Co, LLP, Chartered Accountants, (ICAI Firm Registration No. 301003E/E300005) appointed as Statutory Auditors of the Company for 5 years from 23rd AGM, subject to AGM approval.

6.To issue secured redeemable NCDs on private placement basis for an amount upto Rs. 500 crores.

7.To expand the Wall Putty production capacity by 2 Lakhs M.T. per annum at J.K.White, Katni.

8.The Board took note of increase in Clinker Production Capacity by 3.30 lac tons per annum in Rajasthan Grey Cement plants by Cooler Modification and De-Bottlenecking/Up-gradations with the total cost of approximately Rs.50 Crores. With this the overall grey cement clinker capacity of Rajasthan Plants stands increase to 54.45 lakh tons per annum.

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Idea Cellular declines after weak Q4 results
May 15,2017

The result was announced on Saturday, 13 May 2017.

Meanwhile, the S&P BSE Sensex was up 129.80 points or 0.43% at 30,317.95.

On the BSE, 2.19 lakh shares were traded on the counter so far as against the average daily volumes of 53.26 lakh shares in the past one quarter. The stock had hit a high of Rs 93.25 and a low of Rs 91.30 so far during the day.

The stock had hit a 52-week high of Rs 123.75 on 20 March 2017 and a 52-week low of Rs 66 on 9 November 2016. It had outperformed the market over the past one month till 12 May 2017, advancing 6.46% compared with the Sensexs 1.84% rise. The scrip had, however, underperformed the market over the past one quarter, declining 16.36% as against the Sensexs 6.54% rise.

The large-cap company has equity capital of Rs 3605.81 crore. Face value per share is Rs 10.

Idea Cellulars consolidated revenue from operations declined 14.26% to Rs 8126.10 crore in Q4 March 2017 over Q4 March 2016.

Idea said that the Indian wireless industry witnessed an unprecedented disruption in the second half FY 2017on account of free voice & mobile data promotions by the new entrant in the sector (Reliance Jio). The October to April 2017 interval can be best described as Period of Telecom Discontinuity, permanently changing mobility business parameters, it added.

Consequently, the revenue KPIs & financial parameters for all mobile operators have sharply declined in the second half of FY 2017. With the new entrant starting to charge for its services, albeit very slowly, the sector is expected to return to growth in FY 2018, Idea Cellular said.

The capex guidance of Idea Cellular for FY 2018 is Rs 6000 crore with current spectrum portfolio.

With regard to updates on merger with Vodafone India, the company said that Vodafone & Idea have initiated necessary steps to obtain regulatory approvals for the proposed merger.

Shares of Idea Cellular had risen 6.15% in the preceding three trading sessions to settle at Rs 92.30 on Friday, 12 May 2017, from its closing of Rs 86.95 on 9 May 2017.

Idea Cellular is the third largest wireless operator in India with a revenue market share (RMS) of 18.7% as at 31 December 2016. It is the sixth largest mobile telecommunications company (counted on operations in a single country) in the world based on number of subscribers as of 31 December 2016.

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J K Cements fixes record date for dividend
May 15,2017

J K Cements has fixed 29 July 2017 as record date for payment of dividend, if declared.

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