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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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International Combustion (India) reports standalone net loss of Rs 1.06 crore in the September 2016 quarter
Nov 08,2016

Net loss of International Combustion (India) reported to Rs 1.06 crore in the quarter ended September 2016 as against net profit of Rs 3.67 crore during the previous quarter ended September 2015. Sales declined 20.95% to Rs 22.71 crore in the quarter ended September 2016 as against Rs 28.73 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales22.7128.73 -21 OPM %2.2913.85 - PBDT-0.154.64 PL PBT-1.393.69 PL NP-1.063.67 PL

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Deccan Cements standalone net profit declines 12.77% in the September 2016 quarter
Nov 08,2016

Net profit of Deccan Cements declined 12.77% to Rs 13.46 crore in the quarter ended September 2016 as against Rs 15.43 crore during the previous quarter ended September 2015. Sales declined 5.08% to Rs 145.62 crore in the quarter ended September 2016 as against Rs 153.42 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales145.62153.42 -5 OPM %18.6622.57 - PBDT25.9031.00 -16 PBT20.6025.82 -20 NP13.4615.43 -13

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Harsh Polymers(India) reports standalone net loss of Rs 0.02 crore in the September 2016 quarter
Nov 08,2016

Net Loss of Harsh Polymers(India) reported to Rs 0.02 crore in the quarter ended September 2016 as against net loss of Rs 0.01 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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Boston Bio Systems reports standalone nil net profit/loss in the September 2016 quarter
Nov 08,2016

Boston Bio Systems reported no net profit/loss in the quarter ended September 2016 and during the previous quarter ended September 2015. Sales declined 96.92% to Rs 0.02 crore in the quarter ended September 2016 as against Rs 0.65 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales0.020.65 -97 OPM %00 - PBDT00 0 PBT00 0 NP00 0

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ICICI Bank standalone net profit rises 2.38% in the September 2016 quarter
Nov 08,2016

Net profit of ICICI Bank rose 2.38% to Rs 3102.27 crore in the quarter ended September 2016 as against Rs 3030.11 crore during the previous quarter ended September 2015. Total Operating Income rose 4.13% to Rs 13639.40 crore in the quarter ended September 2016 as against Rs 13098.87 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Total Operating Income13639.4013098.87 4 OPM %20.6769.14 - PBDT3553.384216.27 -16 PBT3553.384216.27 -16 NP3102.273030.11 2

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EID Parry (India) reports standalone net profit of Rs 81.72 crore in the September 2016 quarter
Nov 08,2016

Net profit of EID Parry (India) reported to Rs 81.72 crore in the quarter ended September 2016 as against net loss of Rs 33.89 crore during the previous quarter ended September 2015. Sales declined 3.62% to Rs 547.82 crore in the quarter ended September 2016 as against Rs 568.37 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales547.82568.37 -4 OPM %12.22-7.29 - PBDT128.54-22.90 LP PBT102.30-49.29 LP NP81.72-33.89 LP

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Bharat Forge standalone net profit declines 26.34% in the September 2016 quarter
Nov 08,2016

Net profit of Bharat Forge declined 26.34% to Rs 126.89 crore in the quarter ended September 2016 as against Rs 172.27 crore during the previous quarter ended September 2015. Sales declined 20.62% to Rs 872.28 crore in the quarter ended September 2016 as against Rs 1098.91 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales872.281098.91 -21 OPM %28.3929.16 - PBDT259.64326.38 -20 PBT187.03255.00 -27 NP126.89172.27 -26

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Ashok Leyland standalone net profit rises 70.96% in the September 2016 quarter
Nov 08,2016

Net profit of Ashok Leyland rose 70.96% to Rs 294.41 crore in the quarter ended September 2016 as against Rs 172.21 crore during the previous quarter ended September 2015. Sales declined 7.70% to Rs 4503.17 crore in the quarter ended September 2016 as against Rs 4878.81 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales4503.174878.81 -8 OPM %11.9112.79 - PBDT540.74598.46 -10 PBT414.63475.35 -13 NP294.41172.21 71

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Victory Paper & Boards (India) reports standalone net profit of Rs 0.19 crore in the September 2016 quarter
Nov 08,2016

Net profit of Victory Paper & Boards (India) reported to Rs 0.19 crore in the quarter ended September 2016 as against net loss of Rs 1.44 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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Vesuvius India standalone net profit rises 25.98% in the September 2016 quarter
Nov 08,2016

Net profit of Vesuvius India rose 25.98% to Rs 25.46 crore in the quarter ended September 2016 as against Rs 20.21 crore during the previous quarter ended September 2015. Sales rose 23.58% to Rs 222.23 crore in the quarter ended September 2016 as against Rs 179.82 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales222.23179.82 24 OPM %19.3018.91 - PBDT46.1136.62 26 PBT39.0630.75 27 NP25.4620.21 26

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Mishka Finance & Trading standalone net profit declines 50.00% in the September 2016 quarter
Nov 08,2016

Net profit of Mishka Finance & Trading declined 50.00% to Rs 0.01 crore in the quarter ended September 2016 as against Rs 0.02 crore during the previous quarter ended September 2015. Sales declined 87.65% to Rs 0.20 crore in the quarter ended September 2016 as against Rs 1.62 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales0.201.62 -88 OPM %10.001.85 - PBDT0.020.03 -33 PBT0.020.03 -33 NP0.010.02 -50

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Wabco India declines after weak Q2 results
Nov 08,2016

The result was announced during market hours today, 8 November 2016.

Meanwhile, the S&P BSE Sensex was up 137.19 points or 0.5% at 27,596.18.

On BSE, so far 3,804 shares were traded in the counter as against average daily volume of 486 shares in the past one quarter. The stock was extremely volatile. The stock lost as much as 3.25% at the days low of Rs 5,350 so far during the day. The stock rose as much as 3.97% at the days high of Rs 5,750 so far during the day. The stock had hit a 52-week high of Rs 6,750.90 on 9 November 2015. The stock had hit a 52-week low of Rs 5,172 on 20 January 2016. The stock had underperformed the market over the past one month till 7 November 2016, sliding 9.6% compared with 2.15% fall in the Sensex. The scrip had also underperformed the market in past one quarter, declining 10.01% as against Sensexs 2.21% fall.

The large-cap company has equity capital of Rs 9.48 crore. Face value per share is Rs 5.

Wabco India designs, manufactures and markets conventional braking products, advanced braking systems, and other related air assisted products and systems.

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India-UK trade agreement to spur trade at USD 20 billion by 2020: PHD Chamber
Nov 08,2016

Prospective bilateral agreement and growth avenues would push trade between India and UK to USD 20 billion by 2020 from the current level of at around USD 14.3 billion in 2015-16, said Dr. Mahesh Gupta, President, PHD Chamber of Commerce and Industry.

India and UK are bound by invigorating business and investment opportunities and the close economic linkages based on the fundamentals of understanding and support, said dr. Gupta.

Among various products, Indias thrust products in the UK includes knitted and non-knitted articles of apparels (20.33%); mechanical appliances and machinery (7.64%); pearls and precious stones (5.88%); Vehicles and parts thereof (5.53%); footwear and the like (5.44%); pharmaceutical products (5.15%); electrical equipment (4.49%); articles of iron and steel (3.45%) of the total exports to UK.

UKs thrust products in India includes pearls and precious stones (29.42%); mechanical appliances and machinery (13%); iron and steel (7.86%); electrical equipment (6.49%); optical, photographic, cinematographic and similar instruments (5%); aluminum and articles thereof (4.12%); beverages, spirits and vinegar (3.80%) of the total exports to India.

Dr. Mahesh Gupta also added that Indian exports into UK are mainly focused on Consumer Goods, viz. nearly 65% of the total exports. On the other hand, nearly 43.5% of the total imports from UK are focused on Intermediate goods.

Although the trend in Indias exports to UK has remained in favour of consumer goods over the years, Indias import from UK underwent dramatic shift from raw materials, viz. 36.5% of the overall imports from UK during 2007, to intermediate goods, viz. 43.5% presently.

Dr. Mahesh Gupta said that though Indias penetration in the UKs market has remained consistent, UKs penetration rate revealed signs of substantial revival in the recent past. Also, Indian products hold significant footprint in the UKs market based on the intensity index of India in UK.

Indias export pattern has become more and more aligned with the import pattern of UK over time. Both nations witnessed a favorable complementarity scenario, which exhibits substantial potential trade gains for both the nations, further added Dr. Mahesh Gupta.

Also, the basket of exportable products from India remained opulently diversified compared to the importable basket from UK over time, thereby rendering Indian exporters relatively less susceptible to volatility in a turbulent trade scenario.

He also indicated about the lower than expected intra-industry trade figures between the two nations and to push trade further, both nations must engage in higher intra-industry trade in the medium to long run. Also, it is essential to reduce the exorbitant trade cost between India and UK for agricultural products to provide that much needed impetus to the agrarian exports.

Dr. Mahesh Gupta said that with further liberalization of FDI policy in different segments and the advent of GST next year, FDI from UK is expected to touch a new growth trajectory. Undoubtedly, collaboration of India and UK in the realm of investment and business can truly transform both the nations entrepreneurial ecosystem.

In the past 16 years, UK has invested nearly USD 22 billion in various forms of Foreign Direct Investment in India. UK is, presently, ranked 3rd biggest investor in India, and going by the trend, holds the potential to attain the top position, said Dr. Mahesh Gupta.

Dr. Mahesh Gupta further elaborated that majority of Indias investment in UK were in the Manufacturing sector, viz. around USD 766.32 million; followed by Financial, Insurance and Business services (USD 298.27 million); Transport, Storage and communication services (USD 81.77 million) among other significant investments in UK.

Going ahead, it is essential for both the parts to become proactive and become prompt in finalizing the bilateral agreement to rejuvenate the falling trend in trade. Both nations should continuously meet and engage in discussions related to mitigating bilateral trade issues, defence ties, renewable energy, skill development and other vital areas.

Going ahead, growth prospects for trade and development between two countries are very promising and sustainable, not only for the coming years but for the coming decades, said Dr. Mahesh Gupta.

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Inox Leisure commences commercial operations at Multiplex in Mumbai
Nov 08,2016

Inox Leisure has commenced commercial operations of an existing Multiplex Cinema Theatre, taken on leave and license basis located at Metro House, Mahatma Gandhi Road, Mumbai from 08 November 2016. The said multiplex has 6 screens and 1491 seats.

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KEC International gains after reporting stellar Q2 results
Nov 08,2016

The result was announced during market hours today, 8 November 2016.

Meanwhile, the S&P BSE Sensex was up 48.07 points or 0.18% at 27,507.06.

High volumes were traded on the counter. On BSE, so far 3.07 lakh shares were traded in the counter as against average daily volume of 80,585 shares in the past one quarter. The stock hit a high of Rs 135 and a low of Rs 126 so far during the day. The stock had hit a 52-week high of Rs 164.75 on 24 November 2015. The stock had hit a 52-week low of Rs 97.45 on 12 February 2016. The stock outperformed the market over the past one month till 7 November 2016, gaining 1.08% compared with Sensexs 2.15% decline. The scrip however underperformed the market in past one quarter, falling 10.51% as against Sensexs 2.21% fall.

The mid-cap company has equity capital of Rs 51.42 crore. Face value per share is Rs 2.

KEC Internationals consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) rose 22.5% to Rs 185 crore in Q2 September 2016 over Q2 September 2015. EBITDA margin increased by 1.4% to 8.7% in Q2 September 2016 from 7.3% in Q2 September 2015.

At the time of announcement of results, KEC International also said that it secured new orders worth Rs 686 crore in transmission and distribution, railways and cables businesses.

KEC International is a global infrastructure engineering, procurement and construction (EPC) major. It has presence in the verticals of power transmission and distribution, cables, railways, water and renewables. It is a RPG group company.

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