My Application Form Status

Check the status of your application form with Angel Broking.
  • Companies
  • Everything else
Search
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.

Powered by Capital Market - Live News

Bluechip Stockspin to hold board meeting
Oct 28,2016

Bluechip Stockspin will hold a meeting of the Board of Directors of the Company on 11 November 2016 to consider and approve the Unaudited Financial Results for the quarter ended September 30, 2016.

Powered by Capital Market - Live News

Shree Pushkar Chemicals& Fertilisers to hold board meeting
Oct 28,2016

Shree Pushkar Chemicals& Fertilisers will hold a meeting of the Board of Directors of the Company on 12 November 2016 to consider & approve inter alia the Unaudited Financial Results for half of the financial year and Quarter ended September 30, 2016;

Powered by Capital Market - Live News

Galaxy Agrico Exports to hold board meeting
Oct 28,2016

Galaxy Agrico Exports will hold a meeting of the Board of Directors of the Company on 14 November 2016 to take on record the Un-Audited Financial Results for the quarter ended September 30, 2016.

Powered by Capital Market - Live News

Dhanuka Agritech to hold board meeting
Oct 28,2016

Dhanuka Agritech will hold a meeting of the Board of Directors of the Company on 10 November 2016 to consider a proposal of Buy-back of shares of the Company and seeking approval of the Shareholders, if required in accordance with all applicable provisions of laws. To consider and approve Un-audited Financial Results pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for the quarter and half year ended September 30, 2016;

Powered by Capital Market - Live News

Udaipur Cement Works to hold board meeting
Oct 28,2016

Udaipur Cement Works will hold a meeting of the Board of Directors of the Company on 9 November 2016 to approve and take on record the unaudited Financial Results of the Company for the second quarter/ half year ended September 30, 2016.

Powered by Capital Market - Live News

Mavens Biotech to hold board meeting
Oct 28,2016

Mavens Biotech will hold a meeting of the Board of Directors of the Company on 14 November 2016 To consider and approve Unaudited financial results for the 2nd quarter ended September 30, 2016.

Powered by Capital Market - Live News

Sagar Cements to hold EGM
Oct 28,2016

Sagar Cements announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 23 November 2016 .

Powered by Capital Market - Live News

ANS Industries to hold board meeting
Oct 28,2016

ANS Industries will hold a meeting of the Board of Directors of the Company on 10 November 2016 to consider and approval of the Unaudited Financial Results (Provisional) for the Second Quarter ended on September 30, 2016.

Powered by Capital Market - Live News

HSIL to hold board meeting
Oct 28,2016

HSIL will hold a meeting of the Board of Directors of the Company on 7 November 2016 Un-audited Financial Results together with Segment wise Revenue, Results & Capital employed along with Statement of Assets and Liabilities for the second quarter and half year ended September 30, 2016.

Powered by Capital Market - Live News

Bosch to hold board meeting
Oct 28,2016

Bosch will hold a meeting of the Board of Directors of the Company on 9 November 2016 to consider and approve the unaudited Standalone financial results for the 2nd Quarter ended September 30, 2016 (Q2).

Powered by Capital Market - Live News

Prashant India to hold board meeting
Oct 28,2016

Prashant India will hold a meeting of the Board of Directors of the Company on 11 November 2016 to consider and approve the quarterly unaudited financial results of the Company for the quarter ended September 30, 2016.

Powered by Capital Market - Live News

Yash Trading & Finance to hold board meeting
Oct 28,2016

Yash Trading & Finance will hold a meeting of the Board of Directors of the Company on 4 November 2016 to consider and approve the Un-audited financial results along with Limited Review Report of the Company for the quarter and half year ended September 30, 2016.

Powered by Capital Market - Live News

NMDC gains after signing tripartite pact with MP Govt
Oct 28,2016

The announcement was made after market hours yesterday, 27 October 2016.

Meanwhile, the BSE Sensex was down 49.71 points, or 0.18%, to 27,866.19.

On BSE, so far 82,000 shares were traded in the counter, compared with average daily volume of 3.47 lakh shares in the past one quarter. The stock hit a high of Rs 126.45 so far during the day, which is also a 52-week high for the counter. The stock hit a low of Rs 123.70 so far during the day. The stock hit a 52-week low of Rs 75.20 on 12 February 2016. The stock had outperformed the market over the past 30 days till 27 October 2016, rising 12.24% compared with 1.33% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 23.05% as against Sensexs 0.48% decline.

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

NMDC said that it has signed a tripartite memorandum of understanding (MOU) with Government of Madhya Pradesh and Madhya Pradesh State Mining Corporation (MPSMCL) for geological & geophysical exploration of various minerals in Madhya Pradesh. NMDC had made intentions to invest during the global investors summit held in October 2016 for exploration for different minerals in various districts of Madhya Pradesh over an area of approximately 7,200 square kilometers. As per the MOU, on successful establishment of mineral blocks through this proposed exploration, NMDC would be forming a joint venture with MPSMCL with equity 51:49 (NMDC-MPSMCL) for mining of such blocks.

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 74.943% stake in NMDC as on 14 October 2016.

Powered by Capital Market - Live News

Tata Steel acheives major production milestone of One million tons of Hot Metal
Oct 28,2016

Tata Steel has recently achieved a major milestone of production of One million tons of Hot Metal in the new greenfield steel plant in Kalinganagar, Odisha in less than six months of formal commissioning of the facilities. Similar ramp up in production has been achieved in the steel making facilities in Kalinganagar and in the last month, the combined monthly sale of Tata Steel Jamshedpur and Kalinganagar cross One million tons for the first time.

Powered by Capital Market - Live News

Cabinet approves Cadre Review of Indian Posts & Telecommunications Accounts and Finance Service Group n++An++
Oct 28,2016

The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved the first Cadre Review of Indian Posts & Telecommunications Accounts and Finance Service (IP&TAFS) with the following salient features:

(a) Reduction of the total strength of the cadre from 420 to 376.

(b) Creation of one Apex level post of Controller General of Communication Accounts (CGCA).

(c) Creation of one additional HAG+ level post taking the grade strength to 2.

(d) Creation of two additional HAG level posts taking the grade strength from 6 to 8.

(e) Creation of 18 additional SAG level posts taking the grade strength from 37 to 55.

(f) Reduction in JAG level posts from 111 to 90.

(g) Reduction in STS level posts from 198 to 86.

(h) Creation of 21 JTS level posts taking the grade strength from 67 to 88.

(i) Creation of 46 Posts to be operated as Reserves

Background:

Indian Posts & Telecommunications Accounts and Finance Service Group An++ was constituted in 1972 and caters to the Department of Telecommunications (DoT) and the Department of Posts (DoP).

In Department of Telecommunications, the IP&TAFS performs the functions of assessment and collection of license fee/ spectrum usage charges, spectrum auction, USO scheme monitoring and subsidy management, exchequer control, budgeting, accounting, pension disbursement, internal audit and finance advice. In the Department of Posts, the IP&TAFS is entrusted with the functions of finance advice, budgeting, tariff and costing, accounting and internal audit.

There has been a paradigm shift in the role of Department of Telecommunications as well as the Department of Posts in recent years. In the Telecom sector, the role of the Department of Telecommunications has transformed from primarily being a Service provider, Regulator and Policy maker into the present structure whereby the Department is primarily responsible for Policy making, Licensing and Universal Service Obligation. Receipts from Department of Telecommunications, primarily License Fee, Spectrum Usage Charges and Spectrum Auction Value constitute one of the largest source of non-tax revenue for the Government of India.

Similarly, the bundle of services offered by Department of Posts has undergone a quantitative and qualitative change and the Department has ventured into areas of retailing, banking, insurance, digitizing operations etc. Further, the audit mechanism in both the Departments needs to be strengthened.

These facts coupled with the stagnation in various grades of the service necessitated a review of the structure of IP&TAFS.

Powered by Capital Market - Live News