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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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Oberoi Realty to announce December quarter results
Jan 19,2017

Oberoi Realty announced that a meeting of the Board of Directors of the Company will be held on 25 January 2017, inter alia, to consider and approve the un-audited financial results of the Company for the quarter ended 31 December 2016.

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PMAY(Urban) housing approvals cross 15 lakh mark with an investment of Rs.82,708 cr
Jan 19,2017

Ministry of Housing & Urban Poverty Alleviation has asked all the States and Union Territories to submit proposals for construction of affordable houses for urban poor at the earliest so that the Housing For All target in urban areas could be met by 2022 as envisaged. This was conveyed by Dr. Nandita Chatterjee, Secretary(HUPA) during a meeting of the Central Screening and Monitoring Committee (CSMC). She urged the States and UTs to expedite submission of proposals as per the latest demand assessment undertaken by them.

During the CSMC meeting, the Ministry of HUPA has approved construction of 78,703 affordable houses for the benefit of Economically Weaker Sections in the States of Tamil Nadu, Kerala and West Bengal with an investment of Rs.2,956.32 cr. Central assistance of Rs.1,180.54 cr has been approved for construction of these houses.

With yesterdays approvals, the total number of houses approved for the benefit of urban poor under Pradhan Mantri Awas Yojana (Urban), launched in June last year reached 15,48,846. Total investment approved for construction of these houses is Rs.82,708 cr with central assistance of Rs.21,125.36 cr.

The Ministry approved 52,336 more houses for EWS in Tamil Nadu with an investment of Rs.1,942.24 cr and central assistance of Rs.785.04 cr. With this, the total number of houses approved for Tamil Nadu under PMAY(Urban) has gone up to Rs.2,26,572 with an investment of Rs.8,144 cr and central assistance of Rs.3,461 cr.

The approvals include 2,992 more houses for Chennai, 1,384 for Tiruppur, 1,088 for Madurai, 1,025 for Edanganasalai, 965 for Marakkanam, 931 for Kottakuppam, 905 for Coimbattore, 700 for Thanjavur, 450 for Namagiripettai and 437 for Vadalur.

West Bengal today got 21,285 more houses with an investment of Rs.861.62 cr and central assistance of Rs.319.27 cr. with this, total number of affordable houses approved for the State under PMAY (Urban) has increased to 1,44,016 with an investment of Rs.5,835 cr and central assistance of Rs.2,168 cr.

The approvals include, Bidhannagar-6,067 houses, Uluberia-5,899, Siliguri-2,000, Jalpaiguri-1,945, Jangipur-1,415, New Barrackpore-797, Dinhata-715, Ranaghat-594. Coochbehar-517 and Mathabhanga-439.

The Ministry of HUPA approved 5,082 houses for the benefit of urban poor in Kerala with an investment of Rs.152.46 cr and central assistance of Rs.76.23 cr. Total number of houses approved for the State so far has gone up to 22,467 with an investment of Rs.755 cr and central assistance of Rs.363 cr.

The approvals include; Kochi-1,528 houses, Nedumangadu-850, Manjeri-530, Chavakkad-355, Thiruvalla-361, Kayamkulam-305, Vatakara-270, Tripunithura-240, Mallapuram-229, Thalassery-210 and Thrissur-204.

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Board of Infibeam Incorporation to consider fund raising by preferential issue of convertible securities
Jan 19,2017

Infibeam Incorporation announced that the meeting of the Board of Directors of the Company will be held on 24 January 2017, to consider and approve the fund raising by way of preferential issue of warrants and /or any other convertible securities, subject to approval of members of the Company and other necessary permissions, sanctions etc., as may be necessary, under the applicable provisions of the Companies Act, 2013, read with rules made thereunder, along with applicable SEBI (ICDR) Regulations, 2009, as amended, SEBI (LODR) Regulations, 2015, as amended, and other applicable SEBI Rules & Regulations and other laws.

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Board of Vedavaag Systems approves preferential issue of convertible warrants
Jan 19,2017

Vedavaag Systems announced that the Board of Directors of the Company at its meeting held on 18 January 2017 have approved the allotment of One crore warrants convertible into equity shares at an issue price of Rs 39 (including premium of Rs 29 per share) on receipt of requisite amount to the promoters and others on preferential basis.

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Boston Bio Systems to consider December quarter results
Jan 19,2017

Boston Bio Systems announced that a meeting of the board of directors of the Company will be held on 06 February 2017, for consideration of unaudited results of the Company for quarter ended on 31 December 2016.

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HCL Technologies gets High Court approval for proposed composite scheme of arrangement and amalgamation
Jan 19,2017

HCL Technologies has received the sanction from Honble High Court of Delhi for the proposed Composite Scheme of Arrangement and Amalgamation (Scheme) amongst Geometric (the Demerged Company/ Transferor Company), HCL Technologies (Transferee Company No. 1) and 3D PLM Software Solutions (Transferee Company No. 2) vide order dated 18 January 2017.

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Board of TIL to consider Q3 and 9M results
Jan 19,2017

TIL announced that a meeting of the Board of Directors of the Company is scheduled to be held on 30 January 2017, inter-alia, to consider and approve the Unaudited Financial Results of the Company for the third quarter and nine months period ended on 31 December 2016, subject to Limited Review by the Statutory Auditors.

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Cipla gains as arm to sell stake in Four M Propack to Shriji Polymers
Jan 19,2017

The announcement was made after market hours yesterday, 18 January 2017.

Meanwhile, the BSE Sensex was up 7.26 points, or 0.03%, to 27,264.90.

On the BSE, so far 3,742 shares were traded in the counter, compared with average daily volumes of 1.03 lakh shares in the past one quarter. The stock had hit a high of Rs 585 and a low of Rs 581.15 so far during the day.

The stock hit a 52-week high of Rs 617.70 on 23 September 2016. The stock hit a 52-week low of Rs 458.25 on 25 May 2016. The stock had underperformed the market over the past 30 days till 18 January 2017, rising 3.49% compared with the 3.61% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, falling 2.26% as against Sensexs 3.10% decline.

The large-cap company has equity capital of Rs 160.88 crore. Face value per share is Rs 2.

Cipla announced that its wholly-owned subsidiary Goldencross Pharma has entered in to a definitive agreement to sell its 100% equity stake in Four M Propack, India (Four M Propack) to Shriji Polymers (India) (Shriji Polymers) for a consideration of Rs 13.50 crore and an additional sum derived on the basis of the value of mutual funds, cash and bank balance, tax refunds, etc. at the time of closing estimated at around Rs 5.70 crore.

Shriji Polymers is engaged in the business of manufacturing of HDPE bottles and PP caps for the pharmaceutical industry. The turnover of Four M Propack for the financial year ended 31 March 2016 was Rs 9.77 crore which is entirely on account of sales to the company. The net worth of Four M Propack as on 31 March 2016 was Rs 15.82 crore constituting 0.001% of the consolidated net worth of the company. The transaction is expected to be completed within 45 days from date of signing of the definitive agreement, subject to completion of certain condition precedent and receipt of applicable approvals.

Cipla said that none of the persons belonging to promoter/promoter Group(s) of the company has any interest in the transaction and it is not a related party transaction for the company.

On a consolidated basis, Ciplas net profit dropped 34.75% to Rs 354.34 crore on 8.66% rise in net sales to Rs 3671.88 crore in Q2 September 2016 over Q2 September 2015.

Cipla is a global pharmaceutical company. Its portfolio includes over 1,000 products across wide range of therapeutic categories with one quality standard globally.

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MEP Infrastructure Developers provides update on its Nagpur Ring Road 2 project
Jan 19,2017

MEP Infrastructure Developers announced that MEP Sanjose Nagpur Ring Road 2 (MEP NRR2) a Subsidiary Company of the Company, had entered into a Concession Agreement with The National Highways Authority of India (NHAI) dated 19 May 2016 for Four Laning Stand Alone Ring Road/ Bypass for the Nagpur City Package II from Km 34+000 to Km 62+035 (Design length 28+035 Km) in the State of Maharashtra on BOT (Hybrid Annuity) basis.

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Sical Logistics to consider Q3 and 9M results
Jan 19,2017

Sical Logistics announced that the unaudited financial results for the quarter and nine months ended 31 December 2016, will be taken up for approval and authentication by the Board of Directors of the Company on 02 February 2017.

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Great Eastern Shipping Company allots NCDs aggregating Rs 500 crore
Jan 19,2017

Great Eastern Shipping Company announced that the Debenture Issue Committee has at its meeting held 16 January 2017, allotted 7.99% 5,000 Unsecured Non-Convertible Debentures of face value of Rs. 10 lakhs each aggregating to Rs. 500 crore in two tranches of Rs. 250 crore each.

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Interglobe Aviation to announce December quarter results
Jan 19,2017

Interglobe Aviation announced that a meeting of the Board of Directors of the Company is scheduled to be held on 31 January 2017, inter-alia, to consider and approve the unaudited financial results of the Company for the quarter and nine months ended 31 December 2016, subject to a limited review by the Statutory Auditors

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AAI receives 45 initial proposals from 11 bidders covering more than 200 RCS routes under UDAN
Jan 19,2017

Airports Authority of India (AAI), the implementing agency for the Regional Connectivity Scheme (UDAN) has received 45 initial proposals from 11 bidders covering more than 200 RCS routes as the deadline for submitting initial proposals came to an end on 16th Jan 2017. These initial proposals cover as many as 65 airports, of which there are 52 un-served and 13 under-served airports as per the provisions of the scheme. Counter-bids have now been invited against these initial proposals, the last date of submission for which is 1st Feb. 2017. The routes or networks will be awarded to the bidders who quote the lowest requirement of Viability Gap Funding (VGF) against such routes. To ensure that operations on ground start with minimum time-gap after the bidding is completed, parallel action has also been initiated by the Ministry of Civil Aviation with AAI, State Governments, DGCA and Bureau of Civil Aviation Security.

It may be recalled that with the twin objectives of promoting balanced regional growth and making flying affordable for masses, the Ministry of Civil Aviation had launched the Regional Connectivity Scheme (UDAN) on 21st Oct. 2016. RCS was a key component of the National Civil Aviation Policy which was released by the Ministry on 15th June 2016. The scheme, which would be in operation for a period of 10 years, envisages providing connectivity to un-served and under-served regions of the country through revival of existing air-strips and airports. This would be achieved through a financial stimulus in the form of Central and State government concessions, as well as Viability Gap Funding to the interested airlines to kick-off operations from such airports, so that the passenger fares are kept affordable. The fare for a one hour journey of approximately 500 km on a fixed wing aircraft or for a 30 minute journey on a helicopter would be capped at Rs. 2,500 under the scheme, with proportionate pricing for routes of different lengths / duration.

The Union Minister of Civil Aviation Sh. P. Ashok Gajapathi Raju, while expressing satisfaction with the response received under the scheme, conveyed that this is a significant step ahead in realizing our Honble Prime Ministers vision of connecting the un-connected and serving the un-served. The scheme is likely to give a major boost to tourism activities and employment generation in hinterland and Tier-II and Tier-III cities, he added.

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Cipla in spotlight as arm to sell stake in Four M Propack
Jan 19,2017

Cipla announced that its wholly-owned subsidiary Goldencross Pharma has entered in to a definitive agreement to sell its 100% equity stake in Four M Propack, India (Four M Propack) to Shriji Polymers (India) (Shriji Polymers) for a consideration of Rs 13.50 crore and an additional sum derived on the basis of the value of mutual funds, cash and bank balance, tax refunds, etc. at the time of closing estimated at around Rs 5.70 crore. The announcement was made after market hours yesterday, 18 January 2017.

Shriji Polymers is engaged in the business of manufacturing of HDPE bottles and PP caps for the pharmaceutical industry. The turnover of Four M Propack for the financial year ended 31 March 2016 was Rs 9.77 crore which is entirely on account of sales to the company. The net worth of Four M Propack as on 31 March 2016 was Rs 15.82 crore constituting 0.001% of the consolidated net worth of the company. The transaction is expected to be completed within 45 days from date of signing of the definitive agreement, subject to completion of certain condition precedent and receipt of applicable approvals.

Cipla said that none of the persons belonging to promoter/promoter Group(s) of the company has any interest in the transaction and it is not a related party transaction for the company.

Axis Bank and Yes Bank will announce October-December 2016 quarterly results today, 19 January 2017.

NHPC announced that TLDP-III (4 X 33) 132 megawatts (MW) power station in West Bengal has been completely restored on 18 January 2017 which was under complete shutdown for restoration work of GIS (Line-I Bay). The announcement was made after market hours yesterday, 18 January 2017.

Punjab National Bank (PNB) announced that the bank and India Post Payments Bank (IPPB) have signed a memorandum of understanding on 17 January 2017, wherein PNB shall provide technology platform for pilot launch of IPPB on receipt of regulatory approval from the Reserve Bank of India. The announcement was made after market hours yesterday, 18 January 2017.

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Orbit Exports to consider Q3 results and interim dividend for FY 2017
Jan 18,2017

Orbit Exports announced that a meeting of the Board of Directors of the Company is scheduled to be held on 25 January 2017, inter alia, to:

1. consider and approve and take on record the Unaudited Financial Results for the quarter and nine months ended 31 December 2016.

2. consider declaration of Interim Dividend to the equity shareholders of the Company for the Financial Year 2016-2017

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