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

Board of Rico Auto Industries approves change in registered office
Nov 09,2016

Rico Auto Industries announced that the Board of Directors of the Company at its meeting held on 09 November 2016, inter alia, have approved the following:

- Change in Registered Office of the Company from 69 KM Stone, Delhi - Jaipur Highway, Dharuhera, District Rewari - 122106, Haryana to 38 KM Stone, Delhi - Jaipur Highway, Gurgaon - 122001, Haryana subject to the approval of Shareholders.

Powered by Capital Market - Live News

Board of Jaipan Industries to approve September quarter results
Nov 09,2016

Jaipan Industries announced that a meeting of the Board of Directors of the Company is scheduled to be held on 14 November 2016, inter alia, to consider and approve the Unn++-Audited financial results for the Quarter ended 30 September 2016 with Limited Review Report.

Powered by Capital Market - Live News

Pan India Corporation MD resigns
Nov 09,2016

Pan India Corporation announced that Ankit Rathi has resigned as Managing Director of the Company due to his personal reasons w.e.f. 08 November 2016 and will continue to act as Director of the Company.

Powered by Capital Market - Live News

Board of Hemo Organic to consider September quarter results
Nov 09,2016

Hemo Organic announced that a meeting of the Board of Directors of the Company is scheduled to be held on 14 November 2016, inter alia, to consider, approve & take on record the Unaudited Financial Results of the Company for the quarter ended on 30 September 2016.

Powered by Capital Market - Live News

Jog Engineering to announce September quarter results
Nov 09,2016

Jog Engineering announced that a meeting of the Board of Directors of the Company will be held on 14 November 2016, for considering and taking on record the unaudited Financial Results for the quarter ended 30 September 2016.

Powered by Capital Market - Live News

Vikas Granaries Board to review September quarter results
Nov 09,2016

Vikas Granaries announced that a meeting of the Board of Directors of the Company is scheduled to be held on 14 November 2016, inter alia, to consider and approve the Un-audited Financial Results of the Company for the quarter ended 30 September 2016.

Powered by Capital Market - Live News

Escorts launches new 80 & 90 HP tractors
Nov 09,2016

Escorts announced the launch of new range of FT 6080 Pro and FT 6090 Pro Farmtrac tractors in 80 and 90 HP category simultaneously in Italy and Mexico at EIMA, International Exposition of Machinery for Agriculture and Gardening, Bolongna and at Expo Agroalimentaria, Guanajuoto, Irapuato, respectively.

Powered by Capital Market - Live News

Encash Entertainment to announces September half year results
Nov 09,2016

Encash Entertainment announced that the Meeting of the Board of Directors of the Company will be held on 14 November 2016, inter alia, to consider the following business as under:-.

- To consider Unaudited Financial Statement for half year ended 30 September 2016 along with Limited Review Report by auditor.

Powered by Capital Market - Live News

Board of Cords Cable Industries approves allotment of preference shares
Nov 09,2016

Cords Cable Industries announced that the Board of Directors of the Company at their meeting held on 09 November 2016 approved issue and allotment (in one or more tranches) 1.60 lakh cumulative redeemable non-convertible preference shares of face value of Rs 10 each aggregating to Rs 1.60 crore to Naveen Sawhney.

Powered by Capital Market - Live News

Outcome of board meeting of Apollo Tyres
Nov 09,2016

Apollo Tyres announced that the Board of Directors at its meeting held on 09 November 2016, inter alia, has considered and approved the following :

- Execution of Memorandum of Understanding with Government of Andhra Pradesh for land acquisition towards Companys future needs.

Powered by Capital Market - Live News

Board of Satin Creditcare Network approves voluntary delisting of shares from Calcutta Stock Exchange
Nov 09,2016

Satin Creditcare Network announced that the Board of Directors in their meeting held on 09 November 2016, inter alia, has considered and approved the following matters along with the other items of agenda :

- Voluntarily delisting of shares of the Company from the Calcutta Stock Exchange.

Powered by Capital Market - Live News

Government permits Rs. 500 and Rs. 1000 currency notes on highway toll plazas till midnight of 11 November 2016
Nov 09,2016

The government has permitted fee collectors at toll plazas on highways to accept currency notes of Rs. 500 and Rs. 1000 denominations till the midnight of 11 November 2016. National Highways Authority of India (NHAI) has issued instructions to all the concessionaries including BOT, OMT operators and other fee collection agencies in this regard. The orders have been issued in order to avoid difficulties that may be faced by the highway users following instructions by the Ministry of Finance yesterday that currency notes of the denominations of Rs. 500 and Rs. 1000 will no longer be legal tender from 12.00 am today.

Powered by Capital Market - Live News

Hong Kong Stocks fall to three-month low
Nov 09,2016

The Hong Kong stock market declined to lowest level in three-month on Wednesday, 09 November 2016, taking their cue from the global market disarray as Donald Trump claimed a sock victory in the US presidential election. The Hang Seng Index declined 2.16% or 494.28 points to 22415.19, while the Hang Seng China Enterprises Index slid 2.91% or 281.19 points to 9378.66. Turnover increased significantly to HK$104.2 billion from HK$53.8 billion on Tuesday.

Powered by Capital Market - Live News

AYM Syntex announces change in CFO
Nov 09,2016

AYM Syntex announced that Himanshu Dhaddha has been appointed as a Chief Financial Officer of the Company with effect from 08 November 2016.

Bhaskar Sen, the existing CFO continues to be associated with the company in a different role.

Powered by Capital Market - Live News

Bhel drops on profit booking
Nov 09,2016

Meanwhile, the S&P BSE Sensex was down 308.56 points or 1.12% at 27,282.58.

On BSE, so far 16.03 lakh shares were traded in the counter as against average daily volume of 10.23 lakh shares in the past one quarter. The stock hit a high of Rs 140.40 and a low of Rs 129 so far during the day. The stock had hit a 52-week high of Rs 190 on 9 November 2015. The stock had hit a 52-week low of Rs 90.40 on 29 February 2016. The stock had outperformed the market over the past one month till 8 November 2016, gaining 5.61% compared with 1.67% fall in the Sensex. The scrip had also outperformed the market in past one quarter, advancing 2.18% as against Sensexs 2.1% fall.

The large-cap company has equity capital of Rs 489.52 crore. Face value per share is Rs 2.

Shares of Bharat Heavy Electricals (Bhel) had risen 6.11% in the preceding two trading sessions to settle at Rs 143.15 yesterday, 8 November 2016, from its close of Rs 134.90 on 4 November 2016.

Bhel reported net profit of Rs 109 crore in Q2 September 2016 compared with net loss of Rs 180.78 crore in Q2 September 2015. Net sales rose 12.1% to Rs 6550.77 crore in Q2 September 2016 over Q2 September 2015. Order backlog stood at Rs 1.03 lakh crore as on 30 September 2016. The result was announced during trading hours yesterday, 8 November 2016. The stock had settled 2.87% higher at Rs 143.15 on that day.

State-run Bharat Heavy Electricals (Bhel) is an integrated power plant equipment manufacturer. It is one of the largest engineering and manufacturing companies in India engaged in the design, engineering, manufacture, construction, testing, commissioning and servicing of a wide range of products and services for core sectors of the economy, viz. power, transmission, industry, railways, renewable energy, oil & gas, water and defence. The Government of India currently holds 63.06% stake in Bhel (as per the shareholding pattern as on 30 September 2016).

Powered by Capital Market - Live News