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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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Goa Carbon fixes record date for interim dividend
Jan 13,2017

Goa Carbon announced that the Company has fixed 25 January 2017 as the Record Date for the purpose of payment of interim dividend. Interim dividend shall be paid / dispatched on or before 08 February 2017.

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HCL Technologies fixes record date for 4th interim dividend
Jan 13,2017

HCL Technologies has fixed 02 February 2017 as the Record Date for the purpose of Payment of 4th Interim Dividend.

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Page Industries fixes record date for 3rd interim dividend
Jan 13,2017

Page Industries has fixed 17 February 2017 as the Record Date for the purpose of Payment of 3rd Interim Dividend.

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Grovy India to consider December quarter results
Jan 13,2017

Grovy India announced that the meeting of the Board of Directors of the Company is scheduled to be held on 30 January 2017, inter alia :

- To consider and discuss; un-audited financial results for quarter ended on 31 December 2016 and if thought fit to approve the same.

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Sintex Industries to announce Q3 and 9M results
Jan 13,2017

Sintex Industries announced that a Meeting of the Board of Directors of the Company is proposed to be held on 20 January 2017, inter alia, for considering and approving the Unaudited Financial Results of the Company for the Quarter and Nine Months ended on 31 December 2016 (Q3).

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Board of Archies to consider December quarter results
Jan 13,2017

Archies announced that the meeting of the Board of Directors of the Company will be held on 11 February 2017, inter alia, to consider and approve the unaudited financial results of the Company for the quarter ended 31 December 2016.

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Gujarat Lease Financing to consider Q3 and 9M results
Jan 13,2017

Gujarat Lease Financing announced that a meeting of the Board of Directors of the Company is scheduled to be held on 25 January 2017, inter alia, to consider the unaudited financial results for the quarter and nine months ended 31 December 2016.

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Selling momentum of FPIs recedes
Jan 13,2017

Foreign portfolio investors (FPIs) sold stocks worth a net Rs 2.98 crore into the secondary equity markets on 12 January 2017, much lower than their net outflow of Rs 678.20 crore during the preceding trading session on 11 January 2017. The net outflow of Rs 2.98 crore on 12 January 2017 was a result of gross purchases of Rs 3314.48 crore and gross sales of Rs 3317.46 crore. On that day, the Sensex rose 106.75 points or 0.39% to settle at 27,247.16, its highest closing level since 10 November 2016.

There was a net inflow of Rs 1.35 crore into the category primary market & others on 12 January 2017, which was a result of gross purchases of Rs 1.90 crore and gross sales of Rs 0.55 crore.

FPIs have sold stocks worth a net Rs 3641.51 crore in January 2017 so far (till 12 January 2017). They had sold stocks worth a net Rs 8960.36 crore into the secondary equity markets in December 2016. FPIs had purchased shares worth a net Rs 12094.42 crore from the secondary equity markets in calendar year 2016.

There has been a net outflow of Rs 167.20 crore from FPIs from the category primary market & others in January 2017 so far (till 12 January 2017). There was a net inflow of Rs 784.07 crore from FPIs into the category primary market & others in December 2016. The net inflow from FPIs into category primary markets & others had totaled Rs 8471.76 crore in calendar year 2016.

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Religare Enterprises to announce Q3 results
Jan 13,2017

Religare Enterprises announced that a meeting of Board of Directors is scheduled to be held on 09 February 2017, inter alia, to consider and approve the Un-audited Standalone Financials Results of the Company for the quarter ended on 31 December 2016 (Q3).

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Board of Hindustan Copper to consider increase in working capital facilities
Jan 13,2017

Hindustan Copper announced that the Board of Directors in its meeting scheduled on 16 January 2017 will inter alia consider proposal for increase in borrowing (working capital facilities) from the consortium banks/ other banks.

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Board of Infra Industries to consider Q3 and 9M results
Jan 13,2017

Infra Industries announced that a Meeting of the Board of Directors of the Company will be held on 21 January 2017, inter alia, to consider and approve the Unaudited Financial Results of the Company for the 9 months/third Quarter ended on 31 December 2016.

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Board of Mukand approves scheme of arrangement and amalgamation
Jan 13,2017

Mukand announced that the Board of Directors of the Company on 12 January 2017, has considered and approved, after recommendation of the Audit Committee of the Company, a scheme of arrangement and amalgamation amongst the Company, Mukand Vijayanagar Steel (MVSL) and Mukand Alloy Steels (MASPL) and their respective shareholders and creditors under the provisions of Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 (Scheme).

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Gartner Says Worldwide IT Spending Forecast to Grow 2.7 Percent in 2017
Jan 13,2017

Worldwide IT spending is projected to total $3.5 trillion in 2017, a 2.7 percent increase from 2016, according to Gartner, Inc. However, this growth rate is down from earlier projections of 3 percent.

2017 was poised to be a rebound year in IT spending. Some major trends have converged, including cloud, blockchain, digital business and artificial intelligence. Normally, this would have pushed IT spending much higher than 2.7 percent growth, said John-David Lovelock, research vice president at Gartner. However, some of the political uncertainty in global markets has fostered a wait-and-see approach causing many enterprises to forestall IT investments.

The Gartner Worldwide IT Spending Forecast is the leading indicator of major technology trends across the hardware, software, IT services and telecom markets. For more than a decade, global IT and business executives have been using these highly anticipated quarterly reports to recognize market opportunities and challenges, and base their critical business decisions on proven methodologies rather than guesswork.

Worldwide devices spending (PCs, tablets, ultramobiles and mobile phones) is projected to remain flat in 2017 at $589 billion. A replacement cycle in the PC market and strong pricing and functionality of premium ultramobiles will help drive growth in 2018. Emerging markets will drive the replacement cycle for mobile phones as smartphones in these markets are used as a main computing device and replaced more regularly than in mature markets.

The worldwide IT services market is forecast to grow 4.2 percent in 2017. Buyer investments in digital business, intelligent automation, and services optimization and innovation continue to drive growth in the market, but buyer caution, fueled by broad economic challenges, remains a counter-balance to faster growth.

Table 1. Worldwide IT Spending Forecast (Billions of U.S. Dollars)

2016
Spending
2016
Growth (%)
2017
Spending
2017
Growth (%)
2018
Spending
2018
Growth (%)
Data Center Systems170-0.61752.61761.0Enterprise Software3335.93556.83807.0Devices588-8.95890.15890.0IT Services8993.99384.29814.7Communications Services1,384-1.01,4081.71,4261.3Overall IT3,375-0.63,4642.73,5532.6

Source: Gartner (January 2017)

The range of spending growth from the high to low is much larger in 2017 than in past years. Normally, the economic environment causes some level of division, however, in 2017 this is compounded by the increased levels of uncertainty, said Mr. Lovelock. The result of that uncertainty is a division between individuals and corporations that will spend more n++ due to opportunities arising n++ and those that will retract or pause IT spending.

For example, aggressive build-out of cloud computing platforms by companies such as Microsoft, Google and Amazon is pushing the global server forecast to reach 5.6 percent growth in 2017. This was revised up 3 percent from last quarters forecast and is sufficient growth to overcome the expected 3 percent decline in external controller-based storage and allow the data center systems segment to grow 2.6 percent in 2017.

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Import of Vegetable Oils down by 14% in November to December 2016-SEA
Jan 13,2017

Import of vegetable oils during December 2016 is reported at 1,209,685 tons compared to 1,420,902 tons in December 2015, consisting of 1,174,296 tons of edible oils and 35,389 tons of non-edible oils. This is down by 15%. The overall import of vegetable oils during first two months of current oil year 2016-17, November & December 2016 is reported at 2,385,149 tons compared to 2,758,337 tons i.e. down by 14%, as per Solvent Extractors Association (SEA) of Indias compiled data on Import data of Vegetable Oils (edible & non-edible) for the month of December 2016.

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Board of Chambal Breweries & Distilleries to consider December quarter results
Jan 13,2017

Chambal Breweries & Distilleries announced that a meeting of the Board of Directors of the Company will be held on 25 January 2017 inter alia to transact the following businesses:-

1. To consider and approve the Unaudited Financial Results of the Company for the quarter ended on 31 December 2016:

2. To take on record the Limited Review Report for the quarter ended on 31 December 2016;

3. To take note of Statements pertaining to Grievance Redressal pursuant to Regulation 13 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

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