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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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Economy set to perform better in 2nd half of FY16: ASSOCHAM Bizcon survey
Nov 02,2016

Indian economy would be performing better in the second half of the current fiscal and the trend appears to have begun from the quarter beginning October, 2016 with 66.7 per cent of the latest ASSOCHAM Bizcon Survey respondents expecting uptick in sales, capacity utilization, though positivity on fresh investment is tentative.

Increased spend on infrastructure development, largely in the government is seen as the most important driver for a turnaround in the economic outlook for the current quarter and the last quarter of the financial year 2016-17.

The second best driver for the optimistic outlook is effective policy reforms followed by a stable foreign exchange rate of the Indian currency despite global head winds like uncertainty on account of the Federal Reserves next policy move and the most bitterly fought US Presidential elections.

While a big chunk of Bizcon Survey participants felt the present economic situation appears to be in a better shape than the previous six months on several parameters, the optimism is more pronounced for the second half of the current fiscal.

For instance on the parameter of industrial performance, the ASSOCHAM Bizcon done in September , noted over 83 per cent of the respondents believing things would look better in at the industry level in the ongoing six month period.

n++Good thing is, there is a clear turnaround in business confidence, which holds the key to new investment and consumer confidencen++, the chamber President Mr. Sunil Kanoria said. He said unlike the previous surveys, the latest round indicates a slight uptick even with regard to capacity utilization going forward and the order book. However, generation of new employment and improvement in wages is still some distance away.

The confidence was quite pronounced at the level of individual firms level, as about 89 per cent of the respondents expressed optimism about better days ahead.

In terms of the capacity utilization expectations, over 66 per cent participants shared the opinion that the industry would be operating at higher levels than 70 per cent of the plant or service facility capacities.

The majority (55.6 percent) of the respondents feel that there is an increase in the sales volume during July to September 2016 and also expecting better sales volume during October to December 2016. However, 38.9 percent of the respondents feel that their profits may not change in the short term (October to December 2016). n++The power to increase price on the part of producers and service providers would remain constrained till there is some more improvement in the consumer demandn++, Mr Kanoria said.

In the short horizon, the survey indicates that there will not be any change in the employment scenario in the industry. As majority (55.6 percent) of respondents believe that employment condition will not improve in the coming days.

In terms of the wage costs scenario, the majority of the industry (44.4 percent) opines that in the July to September 2016, there is no change in wages costs. Going forward as well, majority of the industry respondents (50.0 percent) feel that the wage costs will not change in future also (October to December 2016).

As many as, 38.9 per cent respondents felt that there was an increase in the raw material prices. In the shorter horizon industry is not confident about the raw material price witnessing much movement.

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Taj Gvk Hotels & Resorts director resigns
Nov 02,2016

Anil P Goel, Director of Taj Gvk Hotels & Resorts has resigned from his position with effect from 15th October 2016, and the same was accepted by the Board of Directors at the meeting held on 02nd November 2016.

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Tata Motors declines after JLR reports October US sales
Nov 02,2016

Meanwhile, the S&P BSE Sensex was down 255.04 points or 0.91% at 27,621.57.

On BSE, so far 5.57 lakh shares were traded in the counter as against average daily volume of 7.90 lakh shares in the past one quarter. The stock hit a high of Rs 526.50 and a low of Rs 515.70 so far during the day. The stock had hit a 52-week low of Rs 266 on 11 February 2016. The stock had hit a 52-week high of Rs 598.60 on 7 September 2016. The stock had underperformed the market over the past one month till 1 November 2016, sliding 0.71% compared with 0.04% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, advancing 4.5% as against Sensexs 0.45% fall.

The large-cap company has equity capital of Rs 577.44 crore. Face value per share is Rs 2.

Jaguar US sales jumped 226% to 3,219 units in October 2016 over October 2015. Land Rover US sales declined 23% to 5,532 units in October 2016 over October 2015.

Tata Motors consolidated net profit declined 57% to Rs 2260.40 crore on 10.1% rise in net sales to Rs 64940.12 crore in Q1 June 2016 over Q1 June 2015.

Tata Motors is a market leader in commercial vehicles in India. The companys British unit JLR sells premium luxury cars.

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Coal India drops as monthly production and offtake falls short of target
Nov 02,2016

Meanwhile, the BSE Sensex was down 243.50 points, or 0.87%, to 27,633.11.

On BSE, so far 18.30 lakh shares were traded in the counter, compared with average daily volume of 4 lakh shares in the past one quarter. The stock hit a high of Rs 326.80 and a low of Rs 323.20 so far during the day. The stock hit a 52-week high of Rs 349.85 on 17 August 2016. The stock hit a 52-week low of Rs 272.05 on 12 April 2016.

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

Coal India and its subsidiaries achieved 84% of targeted production at 43.51 million tonnes in October 2016. The company achieved 90% of targeted offtake at 43.04 million tonnes in October 2016.

Coal Indias consolidated net profit fell 14.78% to Rs 3065.28 crore on 6.12% 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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Rajesh Exports bags new order
Nov 02,2016

Rajesh Exports has bagged an export order worth Rs. 1206 Crores of designer range of gold & diamond studded jewellery & medallions from UAE with February 2017 as stipulated period of completion of order.

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Indian FMCG firms outpace MNCs in growth, revenue: ASSOCHAM-TechSci study
Nov 02,2016

During the FY 2016, domestic Fast-moving consumer goods (FMCG) companies have performed significantly well vis-n++-vis the multinational companies in India, according to the just concluded study by ASSOCHAM-TechSci Research.

The combined overall revenue of selected eight MNCs during the FY 16 registered a total of $9436.66 million, whereas the combined revenue of selected seven Indian FMCG is $11066.46 Million, reveals the joint study.

The highest profit after tax margin of leading Indian FMCG is maintained at 25.48% by ITC as comparative to Procter & Gamble Hygiene & Health Care among selected Leading MNC players in FMCG Sector in India, which maintained the highest profit after tax margin by 17.03% which is comparatively lower.

The study has observed performance analysis of selected Indian FMCG Companies that the ITC is leading amongst others with its recorded 25.48% After Taxes Profit Margin (PAT) during the Financial Year, 2016; as its Profit After Taxes is $ 1514.57 Million against revenue of $ 5944.79 Million. While Britannia Industries stands second among other selected ones in terms of generated revenue by $1222.75 Million during the FY 2016 and has registered growth in revenue by 10.76% as comparative to FY2015, however its After Taxes Profit Margin (PAT) is 9.43% which is comparatively lower than its peers in the sector.

The performance of Dabur India is next to ITC in terms of After Taxes Profit Margin (PAT) registered with 16.34% which is $ 144.54 Million against the revenue of $884.62 Million. In terms of After Taxes Profit Margin (PAT), the Godrej Consumer Products is close to Dabur India with 15.37% which is on the basis of $113.80 Million of PAT against revenue of $740.24 Million.

The Marico also performed closely with that of Godrej Consumer Products as the percentage of PAT margin remained 14.19% which comes out on the basis of the disclosed figure of PAT $107.98 Million against the $761.14 Million of revenue. About the performance of Amul, although the company has revenue $743.69 Million, which is slight more than Godrej Consumer Products but the PAT margin is least amongst others having just 0.32%. In case of Amul, the reason can be the fact of controlled prices and nature of milk and milk made products.

The Performance of Patanjali Ayurved has been unmatched and leaves behind all its competitors in the segment with record growth of 146.31% in the revenue on Y-o-Y basis. As the Patanjali Ayurved has achieved the revenue of $769.23 Million during FY 2016 against just $ 312.31 Million during FY 2015.

After analyzing the performance of selected Multi-National Companies of FMCG Sector in India, the study has observed that the Hindustan Unilever is leading with its revenue earned $4921.10 Million with 3.84% Y-o-Y growth in the revenue. But its PAT margin during the year is $628.06 Million i.e only 12.76% which is comparatively lower than its competitor. As data analysis shows that Procter & Gamble Hygiene & Health Care is leading amongst others with its recorded 17.03% After Taxes Profit Margin (PAT) during the Financial Year 2016 because its Profit After Taxes is $ 65.10 Million against revenue of $ 382.20Million.

Where the performance of Glaxosmithkline Consumer Healthcare has recorded 15.94% PAT margin for having its After Taxes Profit of $105.68 Million against Revenue of $662.88Million, the Colgate-Palmolive (India) achieved 13.85% PAT Margin with its $88.69Million against revenue of $640.35 Million.

Gillette India achieved 10.19% PAT Margin for its just $32.77Million of PAT against $321.62 Million of revenue. The performance of Nestle India has declined during the FY2016 by 17.04% in the revenue achieved upto $1257.74 Million comparative to FY2015 when it was $1516.13 Million. Hence the Overall PAT margin during the year remained only 6.89%. The logic behind the data decline of Nestle India can be publicly known facts of post Maggy issue.

About the performance of PepsiCo India, there is 13.00% growth in the revenue during the FY16, when it has achieved $1250.77 Million as Compared to $1106.88 Million during FY15 and thereby the company could manage to reduce the negative Profit After Taxes from $43.08 Million in FY15 to $ 27.23 Million during FY16 however, company could not make it possible to have satisfactory overall profit as there was negative PAT margin by 2.18%.

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Apollo Tyres lists NCDs on NSE
Nov 02,2016

Apollo Tyres has listed its Secured, Redeemable, and Non Convertible Debentures on the Debt segment of National Stock Exchange of India Limited on 28th October 2016.

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Fourth Generation Information Systems to hold board meeting
Nov 02,2016

Fourth Generation Information Systems will hold a meeting of the Board of Directors of the Company on 14 November 2016 Quarterly Results

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Veljan Denison to hold board meeting
Nov 02,2016

Veljan Denison will hold a meeting of the Board of Directors of the Company on 10 November 2016, to consider and take on record the Un-Audited Financial Results of Veljan Denison Limited for the quarter/ Half year ended 30 September 2016.

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Metkore Alloys & Industries to hold board meeting
Nov 02,2016

Metkore Alloys & Industries will hold a meeting of the Board of Directors of the Company on 11 November 2016, to consider and approve the Audited Financial Results of the Company for the quarter ended as on 30 September 2016

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Objectone Information Systems to hold board meeting
Nov 02,2016

Objectone Information Systems will hold a meeting of the Board of Directors of the Company on 14 November 2016, to consider and take on record the Un-Audited Financial Results of the Company for the 2nd quarter ended 30 September 2016.

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Maithan Alloys to hold board meeting
Nov 02,2016

Maithan Alloys will hold a meeting of the Board of Directors of the Company on 10 November 2016, to consider and approve the Un-Audited Financial Results for the quarter and half year ended 30 September 2016.

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GRM Overseas to hold board meeting
Nov 02,2016

GRM Overseas will hold a meeting of the Board of Directors of the Company on 10 November 2016, to consider and take on record the Unaudited Half Yearly & Quarterly Financial Results of the Company for the Quarter ended on 30 September 2016.

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Shivalik Rasayan to hold board meeting
Nov 02,2016

Shivalik Rasayan will hold a meeting of the Board of Directors of the Company on 14 November 2016, to consider, approve and take on record the Un-audited Financial Results for the quarter and half year ending on 30 September 2016.

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Tirupati Tyres to hold board meeting
Nov 02,2016

Tirupati Tyres will hold a meeting of the Board of Directors of the Company on 14 November 2016, to take on record and adopt the unaudited financial result of the Company for the quarter and half year ended 30 September 2016.

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