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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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Meininger Hotels and Fonciere des Regions signs fourth joint deal
Apr 28,2017

Cox & Kings owned Meininger Hotels and Fonciere des Regions, through its subsidiary Fonciere des Murs, signed an agreement for Meininger Hotel in Lyon, located on Rue Zimmermann, near city centre. The 169 room and 580 bed hotel is expected to open mid 2019. This is the fourth joint hotel deal of Meininger and Fonciere des Regions. Three further joint projects in Munich, Paris and Milan are under development.

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Vipul signs project development and construction contract with Leighton India
Apr 28,2017

Vipul announced that that it has signed a project development and construction contract with Leighton India, a leading international construction company for Phase - 1 of its project Aarohan at Golf Course Road in Gurgaon. Aarohan residences will be Leighton Indias fourth major construction project in India following Maker Maxity and TEN BKC both in Mumbai, IKEA retail outlet in Hyderabad and DLF Camelias in Delhi NCR.

AAROHAN constitutes three iconic towers with four apartments on each floor in each tower in the 1st Phase. The Total estimated area shall be 0.9 mn sq. ft. of Premium Residential space in the 1st Phase.

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EPF members now required to submit self-declaration for advance in case of illness of members/ dependents
Apr 28,2017

EPF members will now only be required to submit a self-declaration for the advance in case of illness of members/ dependents. Differently abled members will also get advance on the basis of self-declaration. A member will no longer be required to submit any medical certificate or any other certificate or document or proforma whatsoever to avail advances under paragraph 68-J or under paragraph 68-N of EPF Scheme 1952.

Ministry of Labour & Employment has amended Paragraph 68-J and Paragraph 68-N of Employees Provident Fund Scheme, 1952 and It will come into force from the date of its publication in the official Gazette. According to it, a member would only be required to submit a self-declaration, which has already been included in the composite claim form, to avail advance under the EPF Scheme in case of illness of members/ dependent and also in case of differently abled members.

This is in continuation of initiatives taken by EPFO as part of next phase of its e-governance reforms with a view to make the services of EPFO available to its stakeholder in an efficient and transparent manner. An administrative order was issued on 20.02.2017 in the matter of Introduction of Composite Claim Forms (Aadhar and Non-Aadhar ) to replace existing Claim Forms No. 19, 10C & 31 and Forms No. 19 (UAN), 10C(UAN) & 31 (UAN). EPFO has since implemented Universal Account Number (UAN) for its subscribers. It is now possible for subscribers, who have seeded their UAN with Aadhar Number and Bank account details, to submit claim forms directly to EPFO without the attestation of employers.

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Shoppers Stop intimates of change in shareholding in JV
Apr 28,2017

Shoppers Stop announced that the Companys shareholding in Nuance Group (India), a joint venture company has been reduced from 50% to 40% of the paid up share capital of NGIPL. The reduction in percentage aforesaid is on account of non-subscription of NGIPLs rights issue of equity shares by the Company.

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Board of Union Bank of India approves capital plan for FY 2017-18
Apr 28,2017

Union Bank of India announced that the Board of Directors has given following approvals in its meeting held on 28 April 2017:-

Approval of Capital Plan F.Y. 2017-18. To raise total Capital Funds up to Rs.6350 crore during the year 2017-18 in the form of Core Equity Capital and / or Additional Tier 1 (AT1) Bonds and / or Tier 2 Bonds, subject to maximum issue of Rs.4800 crore, within overall limit of Rs.6350 crore, of Additional Tier 1 (AT1) Bonds and / or Tier 2 Bonds.

To raise Equity Capital not exceeding Rs.4950 crore, within overall limit of Rs.6350 crore, during F.Y. 2017-18 through Public Issue (i.e. follow-on-Public Issue) and/or Rights Issue and/or Private Placement, including Qualified Institutional Placements and/or Preferential allotment the Government of India or other Institutions and/or any other mode(s) subject to necessary approval by the Government of India, other regulatory authorities and of the shareholders in the General Meeting as and when applicable.

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Indiabulls Real Estate leads losers in BSEs A group
Apr 28,2017

Indiabulls Real Estate slumped 5.62% at Rs 147.70 at 12:30 IST on BSE after consolidated net profit fell 3.73% to Rs 60.18 crore on 25.84% fall in total income to Rs 545.15 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 27 April 2017. The stock topped the losers in A group. On the BSE, 22.82 lakh shares were traded on the counter so far as against the average daily volumes of 99.92 lakh shares in the past two weeks.

Prestige Estates Projects shed 3.51% at Rs 237.60. The stock was the second biggest loser in A group. On the BSE, 40,000 shares were traded on the counter so far as against the average daily volumes of 68,000 shares in the past two weeks.

Adani Enterprises lost 3.37% at Rs 110.45. The stock was the third biggest loser in A group. On the BSE, 33.07 lakh shares were traded on the counter so far as against the average daily volumes of 40.96 lakh shares in the past two weeks.

Edelweiss Financial Services dropped 2.37% at Rs 164.85. The stock was the fourth biggest loser in A group. On the BSE, 1.87 lakh shares were traded on the counter so far as against the average daily volumes of 7.77 lakh shares in the past two weeks.

Network18 Media & Investments fell 2.36% at Rs 47.65. The stock was the fifth biggest loser in A group. On the BSE, 3.21 lakh shares were traded on the counter so far as against the average daily volumes of 6.93 lakh shares in the past two weeks.

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Board of Adinath Textiles approves change in director
Apr 28,2017

Adinath Textiles announced that the Board of Directors of the Company at its meeting held on 28 April 2017 has transacted the following business -

Approved appointment of Vishal Oswal as an Additional Director of the Company with effect from 01 May 2017.

Approved appointment of Vishal Oswal as Vice Chairman and MD of the Company with effect from 01 May 2017.

Approval of appointment of Ramesh Chander Juneja as an Additonal Director of the Company with effect from 01 May 2017.

Acceptance of resignation Arun Goel and R P Gupta, Independent Directors with effect from 01 May 2017.

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Uttam Sugar drops after poor Q4 results
Apr 28,2017

The result was announced after market hours yesterday, 27 April 2017.

Meanwhile, the S&P BSE Sensex was down 171.55 points or 0.57% at 29,858.19. The S&P BSE Small-Cap index was up 37.52 points or 0.25% at 15,317.01.

On the BSE, 86,000 shares were traded on the counter so far as against the average daily volumes of 61,000 shares in the past two weeks. The stock had hit a high of Rs 147.95 so far during the day, which is a 52-week high. The stock hit a low of Rs 135 so far during the day. The stock had hit a 52-week low of Rs 40 on 18 November 2016.

The small-cap company has equity capital of Rs 38.14 crore. Face value per share is Rs 10.

Uttam Sugar Mills is engaged in production of sugar, ethanol and generation of power. The company operates in three business segments: sugar, cogeneration and distillery

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Satra Properties vaults after plans to launch residential project
Apr 28,2017

The announcement was made after market hours yesterday, 27 April 2017.

Meanwhile, the S&P BSE Sensex was down 170.40 points, or 0.59%, to 29,853.68. The S&P BSE Small-Cap index was up 37.73 points, or 0.25%, to 15,317.22.

On the BSE, 3,010 shares were traded on the counter so far as against the average daily volumes of 5.69 lakh shares in the past one quarter. The stock had hit a high of Rs 6.66 and a low of Rs 6 so far during the day. The stock had hit a 52-week high of Rs 8.40 on 24 October 2016. The stock had hit a 52-week low of Rs 4.21 on 27 June 2016.

The small-cap company has equity capital of Rs 35.67 crore. Face value per share is Rs 2.

Satra Properties Indias net profit jumped 135.4% to Rs 3.72 crore on 41.5% fall in net sales to Rs 16.95 crore in Q3 December 2016 over Q3 December 2015.

Satra Properties India is a flagship company of Satra Group, established with a focus on construction and development of luxury apartments with introducing Mumbai to the concept of ultra-luxury living with lavish specifications presence.

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Indian Industry needs to develop transformative solutions to meet the countrys development needs: President of India
Apr 28,2017

Honble President of India urged Indian Industry to leverage CSR to re-imagine interventions and transformative solutions to address the large development challenges across India.

The President of India observed that the CSR legislation enhances the scale and scope of social programmes by Industry. He highlighted that industry CSR programs are extensive, including education, healthcare, and rural development, among others. Special outreach is being made for gender empowerment, differently abled citizens, and childrens issues.

The President added that given the magnitude of the challenges before our country and the relatively short time available to address them, it was important to collaborate to achieve scale and deliver solutions to complex social problems.

Mr Rahul Bajaj has played a key role in increasing India Incs global footprint and has led Indian industry through turbulent times. This Award is the highest recognition Indian industry accords members, and bears testimony to the personal integrity and leadership qualities of the recipient.

Mr. Rakesh Bharti Mittal, Vice President, CII stated that the CII Foundation Woman Exemplar Program is a key initiative that promotes womens empowerment at the community level, by discovering, recognizing and supporting grassroot women who rose beyond their limitations, and positively impacted their community. He added that the program supports and strengthens the women leaders through capacity building and a year-long mentoring process to help them scale. The program aspires to create a national level network of grassroots change agents, inspire and create many more, and induce a bottom up approach of women empowerment.

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Indraprastha Gas rises after hiking foreign investment limit
Apr 28,2017

The announcement was made after market hours yesterday, 27 April 2017.

Meanwhile, the S&P BSE Sensex was down 135.80 points, or 0.45%, to 29,893.94.

On the BSE, 6,350 shares were traded on the counter so far as against the average daily volumes of 39,877 shares in the past one quarter. The stock had hit a high of Rs 1,077 and a low of Rs 1,066 so far during the day. The stock had hit a record high of Rs 1,084 on 26 April 2017. The stock had hit a 52-week low of Rs 555.50 on 6 June 2016.

The large-cap company has equity capital of Rs 140 crore. Face value per share is Rs 10.

Indraprastha Gas board at a meeting held on 27 April 2017 approved increase in foreign institutional investors (FIIs)/foreign portfolio investors (FPIs) shareholding limits in the company from 24% of paid up equity share capital to 30% of the paid up share capital of the company, subject to approval of shareholders and other regulatory approval as may be required.

Indraprastha Gas net profit rose 36.8% to Rs 144.81 crore on 1.7% increase in net sales to Rs 942.90 crore in Q3 December 2016 over Q3 December 2015.

Indraprastha Gas retails CNG to automobiles and piped cooking gas to households in Delhi and adjoining cities of Ghaziabad, Noida and Greater Noida.

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Nirlon jumps after turnaround in Q4
Apr 28,2017

The result was announced after market hours yesterday, 27 April 2017.

Meanwhile, the S&P BSE Sensex was down 127.61 points or 0.42% at 29,902.13. The S&P BSE Small-Cap index was up 50.39 points or 15,329.88.

On the BSE, 58,000 shares were traded on the counter so far as against the average daily volumes of 16,130 shares in the past one quarter. The stock had hit a high of Rs 224 and a low of Rs 214 so far during the day. The stock had hit a record high of Rs 245.20 on 10 October 2016 and a 52-week low of Rs 176.25 on 26 December 2016.

The small-cap company has equity capital of Rs 90.12 crore. Face value per share is Rs 10.

Nirlons net sales rose 0.2% to Rs 60.82 crore in Q4 March 2017 over Q4 March 2016.

Nirlons board recommended a dividend of Rs 0.75 per share for the year ended March 2017.

Nirlon is engaged in the business of development and managing an industrial park.

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Board of Motilal Oswal Financial Services approves change in CFO
Apr 28,2017

Motilal Oswal Financial Services announced that the Board of Directors of the Company at its meeting held on 27 April 2017 appointed Shalibhadra Shah as CFO and KMP of the company with immediate effect. Sameer Kamath has stepped down from position of CFO and KMP with immediate effect.

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Board of Syngene International approves change in CEO
Apr 28,2017

Syngene International announced that the Board of Directors of the company at its meeting held on 27 April 2017 has appointed Jonathan Hunt, Chief Executive Officer as a Whole Time Director of the Company for a period of five years commencing from 01 May 2017, subject to the shareholders approval at the ensuing Annual General Meeting to be held on 28 July 2017.

Peter Bains, Non-Executive Director and former CEO of the Company has stepped down from the Board of Syngene International with effect from the conclusion of this board meeting.

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HCL Infosystems advances after selling unit
Apr 28,2017

The announcement was made after market hours yesterday, 27 April 2017.

Meanwhile, the BSE Sensex was down 107.96 points, or 0.36%, to 29,921.78. The BSE Small-Cap index was up 51.73 points, or 0.34%, to 15,331.22.

On the BSE, 2.79 lakh shares were traded in the counter so far, compared with an average volume of 5.65 lakh shares in the past one quarter. The stock had hit a high of Rs 58.30 and a low of Rs 57.20 so far during the day. The stock had hit a 52-week high of Rs 64.85 on 25 January 2017. The stock had hit a 52-week low of Rs 36 on 7 June 2016.

The small-cap company has an equity capital of Rs 44.58 crore. Face value per share is Rs 2.

HCL Infosystems announced that the board of directors of the company at a meeting held on 27 April 2017 approved the slump sale of an undertaking namely, Digischool Business undertaking consisting of business of sale of software licenses to K-12 schools of HCL Learning, a wholly owned subsidiary. The sale was made on a going concern basis to Everest Edusys and Solutions.

HCL Infosystems said that sale consideration of the transaction is Rs 20 crore as a mix of cash and 12% secured optionally convertible debentures. Everest will issue 40.56 lakh shares of Everest Edusys and Solutions to HCL Learning on the closing date, representing 33% of equity capital on a fully diluted basis.

It is a strategic arrangement with Everest Edusys and Solutions in the education space through the slump sale. Everest would become an associate company of HCL Learning subsequent to the closure of acquisition. Indicative time period for the completion of transaction is September 2017.

Everest has a flagship brand named QED, which focuses on transforming learning outcomes, through an integrated approach, using assessments as a framework, delivered through Technology.

HCL Infosystems reported consolidated net loss of Rs 50.73 crore in Q3 December 2016 compared with loss of Rs 37.13 crore in Q2 September 2016. Net sales fell 23.65% to Rs 764.64 crore in Q3 December 2016 over Q2 September 2016.

HCL Infosystems is Indias premier IT services, solutions & distribution company.

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