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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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Samruddhi Realty director resigns
Nov 04,2016

Samruddhi Realty announced that Jatin Gunvantray Parekh has ceased to be the Independent Director of the Company w.e.f., 03 November 2016 on account of resignation.

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Blue Star enters partners with Jumbo Engineering
Nov 04,2016

Blue Star has entered into distribution partnership with Jumbo Engineering, a business unit of Jumbo Group, for distribution in UAE and cater to the demand for cold rooms, mortuary chambers, refrigeration equipment and cold room accessories.

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Blue Star partners with Jumbo Engineering
Nov 04,2016

Blue Star has entered into distribution partnership with Jumbo Engineering, a business unit of Jumbo Group, for distribution in UAE and cater to the demand for cold rooms, mortuary chambers, refrigeration equipment and cold room accessories.

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Board of Golden Legand Leasing & Finance accepts resignation of directors
Nov 04,2016

Golden Legand Leasing & Finance announced that Meeting of the Board of Directors of the Company was held on 04 November 2016 and company inter alias, and considered the following:

- To accept resignation of Alimehndi Noorani and Yasmina Noorani w.e.f. 04 November 2016.

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Board of Cosmo Films appoints director
Nov 04,2016

Cosmo Films announced that the Board of Directors of the Company at its meeting held on 03 November 2016, inter alia, has approved the appointment of Dr. Vivek Nangia as an Additional Director in capacity of Non Executive Independent Director of the Company w.e.f. 03 November 2016.

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Colgate-Palmolive surges on foreign brokerage upgrade
Nov 04,2016

Meanwhile, the S&P BSE Sensex was down 78.74 points or 0.29% at 27,351.54.

On BSE, so far 1.78 lakh shares were traded in the counter as against average daily volume of 30,907 shares in the past one quarter. The stock hit a high of Rs 1,031.60 and a low of Rs 972 so far during the day. The stock had hit a 52-week high of Rs 1,032.85 on 8 August 2016. The stock had hit a 52-week low of Rs 787.60 on 24 May 2016. The stock had underperformed the market over the past one month till 3 November 2016, sliding 3.23% compared with 2.88% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 1.41% as against Sensexs 0.96% fall.

The large-cap company has equity capital of Rs 27.20 crore. Face value per share is Rs 1.

Colgate-Palmolive (India)s net profit rose 15.6% to Rs 181.31 crore on 9.4% growth in net sales to Rs 1048.32 crore in Q2 September 2016 over Q2 September 2015.

Colgate-Palmolive (India) makes oral care products.

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Rama Vision provides business update
Nov 04,2016

Rama Vision announced that the Company has added in its existing line of trading business, the products of Palmers, which is an established Skin Care Brand of USA.

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Spectra Industries announces resignation of director
Nov 04,2016

Spectra Industries announced that Awinash Marutirao Arondekar has resigned as Independent Director of the Company with effect from 04 November 2016.

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Marico fixes record date for interim dividend
Nov 04,2016

Marico has fixed 17 November 2016 as the Record Date for the purpose of Payment of First Interim Dividend.

Dividend Payment Date is 02 December 2016.

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Hind Rectifiers announces demise of director
Nov 04,2016

Hind Rectifiers announced that Uma Nevatia, Executive Vice Chairperson (Whole Time Director) of the Company has passed away on 03 November 2016.

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Coal India declines on reports of foreign brokerage underperform rating
Nov 04,2016

Meanwhile, the S&P BSE Sensex was down 48.26 points or 0.18% at 27,382.02.

On BSE, so far 7.86 lakh shares were traded in the counter as against average daily volume of 4.41 lakh shares in the past two weeks. The stock hit a high of Rs 327.05 and a low of Rs 314.10 so far during the day. The stock had hit a 52-week high of Rs 349.85 on 17 August 2016. The stock had hit a 52-week low of Rs 272.05 on 12 April 2016. The stock had outperformed the market over the past one month till 3 November 2016, sliding 0.34% compared with 2.88% fall in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 0.17% as against Sensexs 0.96% fall.

The large-cap company has equity capital of Rs 6316.36 crore. Face value per share is Rs 10.

Coal Indias consolidated net profit fell 14.8% to Rs 3065.28 crore on 6.1% decline in net sales to Rs 17796.05 crore in Q1 June 2016 over Q1 June 2015.

State-run Coal India is Indias biggest coal miner. The Government of India currently holds 79.65% stake in Coal India (as per the shareholding pattern as on 30 September 2016).

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Gartners 2016 Hype Cycle for ICT in India Reveals the Technologies that are Most Relevant to Digital Business in India
Nov 04,2016

The technology lag that once existed between India and other major technology markets continues to narrow, according to Gartner, Inc. The Gartner Hype Cycle for ICT in India, 2016 shows that more local vendors are entering both emerging and mature technology segments in India, including areas such as the Internet of Things (IoT) and software as a service (SaaS).

When comparing the technology entries for India and the rest of the world, we noticed that the overall technology lag - that is, global traction versus India traction - is gradually closing. India has evolved from an ICT environment that was about 18 months to two years behind global trends at the start of the decade, to one in which most trends are in sync with global trends, said Santhosh Rao, principal research analyst at Gartner. Its clear that many of the technologies on the 2016 Hype Cycle for ICT in India also appear in the global ICT Hype Cycle.

The Hype Cycle for ICT in India, 2016 identifies 25 key technologies at various states of maturity that are most relevant for information technology in India and positions them on the Gartner Hype Cycle. This provides a snapshot of technologies that CIOs and senior IT leaders in Indian enterprises should consider when transitioning to digital businesses.

Beginning its ascent of this years Innovation Trigger is DevOps. The rise of digital business is driving increased awareness among Indian infrastructure and operations (I&O) teams about DevOps which focuses on rapid IT service delivery. The fundamental principles of DevOps aim to build an agile and flexible bridge between the development and operations functions of IT. These principles encourage a culture of innovation, small and quick releases, failing fast and inexpensively, learning from failures and supporting systems of innovation in a pace-layered approach.

Just ahead of DevOps on the Innovation Trigger is Crowdsourcing. Crowdsourcing in India today manifests itself in four areas: crowdsourced communities for application development services; innovation platforms; hackathons and initiatives by local and central government. Crowdsourcing offers the potential to open up innovation efforts by stimulating and capturing creative ideas from outside an organization. This approach can dramatically increase the available human insight that can be applied to a task or challenge. Government organizations are particularly well-positioned to take advantage of the willingness of citizens to help in areas that reflect their local environments or special interests.

Poised just past the peak of this years Peak of Inflated Expectations, heading for the Trough of Disillusionment, is the IoT. The IoT can benefit Indian enterprises in multiple ways, but for successful IoT implementation, Indian organizations will first have to understand the business use case for which they want to use IoT. Success will also depend on aligning the IT and operation technology (OT) resources, processes and people carefully. Therefore, experimenting with pilot projects to understand the implications on people, process, technology and the business is an essential first step for Indian organizations.

The Indian economy is in good shape, and government initiatives such as Make in India and Digital India, are positive measures that are driving investment in India by multinational companies, said Pankaj Prasad, principal research analyst at Gartner. The computer software and hardware segments had a foreign direct investment (FDI) inflow of $5.9 billion during the period from April 2015 to March 2016. This is an increase of nearly 150 percent compared with the same period last year, and Gartner expects these investments to gather further momentum toward the end of 2016.

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NMDC drops after keeping iron ore prices unchanged for November
Nov 04,2016

The announcement was made after market hours yesterday, 3 November 2016.

Meanwhile, the BSE Sensex was down 92.34 points, or 0.34%, to 27,337.94.

On BSE, so far 3.97 lakh shares were traded in the counter, compared with average daily volume of 3.85 lakh shares in the past one quarter. The stock hit a high of Rs 134.80 and a low of Rs 125.60 so far during the day. The stock hit a 52-week high of Rs 142.65 on 2 November 2016. The stock hit a 52-week low of Rs 75.20 on 12 February 2016. The stock had outperformed the market over the past one month till 3 November 2016, advancing 22.96% compared with 2.88% fall in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 33.08% as against Sensexs 0.96% fall.

The large-cap company has equity capital of Rs 316.39 crore. Face value per share is Re 1.

NMDC announced that it has kept unchanged price of lump iron ore at Rs 2,100 per wet metric tonne and price of fines iron ore at Rs 1,760 per wet metric tonne with effect from 3 November 2016, compared with their respective prices in October.

Net profit of NMDC declined 29.9% to Rs 711.34 crore on 4.7% decline in net sales to Rs 1720.65 crore in Q1 June 2016 over Q1 June 2015.

NMDC is Indias largest public sector iron ore producer. As per the shareholding pattern, Government of India (GoI) holds 74.94% stake in NMDC as on 14 October 2016.

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L&T drops amid Govts stake-sale reports
Nov 04,2016

Meanwhile, the S&P BSE Sensex was down 99.34 points or 0.36% at 27,330.94.

Heavy volumes were witnessed on the counter. On BSE, so far shares were traded in the counter as against average daily volume of 71.51 lakh shares in the past two weeks. The stock hit a high of Rs 1,434 and a low of Rs 1,397 so far during the day. The stock had hit a 52-week high of Rs 1,615 on 27 July 2016. The stock had hit a 52-week low of Rs 1,016.60 on 12 February 2016. The stock had outperformed the market over the past one month till 3 November 2016, sliding 1.72% compared with 2.88% fall in the Sensex. The scrip had, however, underperformed the market in past one quarter, declining 2.25% as against Sensexs 0.96% fall.

The large-cap company has equity capital of Rs 186.47 crore. Face value per share is Rs 2.

Reports suggested that the government is selling stake in L&T via block deal mechanism on the stock exchanges today, 4 November 2016. As per reports, the government proposes to offload up to 3% stake in the company held under Specified Undertaking of the Unit Trust of India (Suuti). Reports added that the base price for the share sale has been set at Rs 1,415.66 per share, about 2% discount to the stocks closing price of Rs 1,444.55 on the BSE yesterday, 3 November 2016.

Suuti currently holds 8.14% stake in L&T as per the shareholding pattern as on 30 September 2016.

L&Ts consolidated net profit rose 45.5% to Rs 609.60 crore on 9.3% growth in net sales to Rs 21718.61 crore in Q1 June 2016 over Q1 June 2015.

L&T is a major Indian multinational engaged in technology, engineering, construction, manufacturing and financial services. It operates in more than 30 countries worldwide.

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Pharma stocks slump on reports of investigation by US Department of Justice
Nov 04,2016

Meanwhile, the S&P BSE Sensex was down 83.76 points or 0.31% to 27,346.14.

Glenmark Pharmaceuticals (down 5.24%), Aurobindo Pharma (down 2.96%), Strides Shasun (down 4.24%), Cipla (down 1.4%), Dr Reddys Laboratories (down 4.72%), Cadila Healthcare (down 3.57%), Lupin (down 3.87%), Divis Laboratories (down 1.8%), and Sun Pharmaceutical Industries (down 6.03%) declined.

A report suggested that the US Department of Justice had started the investigation two years ago, and the list included a dozen drug companies such as Sun Pharmaceutical Industries, Taro Pharmaceutical Industries and Mylan. Charges could come up as early as December 2016, it added.

Generic drugs are supposed to keep healthcare costs down. But the US government may claim that these companies worked together to keep prices higher instead of allowing market competition to set pricing, report noted.

The BSE Healthcare index had underperformed the market over the past one month till 3 November 2016, falling 4.06% compared with 2.88% fall in the Sensex. The index had also underperformed the market in past one quarter, dropping 1.91% as against Sensexs 0.96% fall.

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