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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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Kopran intimates of disruption of operations at its facility in Khopoli
Oct 26,2016

Kopran announced that the production at the Companys manufacturing facility at Khopoli, Village Savroli, Taluka - Khalapur, District Raigad 410202 for Finished Dosage Forms has been affected, due to a sudden illegal stoppage of work by the unionized workers without any notice.

The Management does not expect any material impact on the financial performance of the Company.

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Union Bank of India announces resignation of director
Oct 26,2016

Union Bank of India announced that Ministry of Finance, Government of India vide letter dated 26 October 2016 has informed that resignation of Jag Mohan Sharma, Chartered Accountant Director nominated by Central Government under section 9(3)(g) of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 has been accepted by the Central Government w.e.f. 05 October 2016.

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MCX gains after good Q2 result
Oct 26,2016

The result was announced after market hours yesterday, 25 October 2016.

Meanwhile, the BSE Sensex was down 212.92 points, or 0.76%, to 27,878.50

On BSE, so far 22,500 shares were traded in the counter, compared with average daily volume of 88,119 shares in the past one quarter. The stock hit a high of Rs 1,313.90 and low of Rs 1,293 so far during the day. The stock hit a 52-week high of Rs 1,420 on 3 October 2016. The stock hit a 52-week low of Rs 726 on 12 February 2016. The stock had outperformed the market over the past 30 days till 25 October 2016, gaining 19.14% compared with 0.72% decline in the Sensex. The scrip also outperformed the market in past one quarter, 20.52% as against Sensexs 0.24% rise.

The mid-cap company has equity capital of Rs 51 crore. Face value per share is Rs 10.

Multi Commodity Exchange of India (MCX)s earnings before interest, taxation, depreciation and amortization (EBITDA) rose 18% to Rs 55.35 crore in Q2 September 2016 over Q2 September 2015. EBITDA margin stood at 58% and profit after tax (PAT) margin was 39% in Q2 September 2016.

MCXs market share in commodity derivative space has increased to 89.49% in Q2 September 2016 in 84.13% in Q2 September 2015. The average daily turnover (ADT) traded on the exchange has increased by 12% to Rs 25165 crore in Q2 September 2016 over Q2 September 2015. The total number of commodity futures contracts traded on the exchange increased by 3% to 61 million lots in Q2 September 2016 from 59 million lots in Q2 September 2015.

Mrugank Paranjape, MD & CEO, MCX said that strengthened regulatory architecture of Indias commodity derivatives market and introduction of new products such as options, along with the possible entry of institutional participants holds mammoth potential for the company as it endeavours to meet the concomitant demand for risk management solutions of a growing economy.

MCX is Indias first listed, national-level, electronic, commodity futures exchange with permanent recognition from the Government of India.

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Cadila Healthcare slides after weak Q2 results
Oct 26,2016

The result was announced during trading hours today, 26 October 2016.

Meanwhile, the BSE Sensex was down 202.03 points, or 0.72%, to 27,889.39.

On BSE, so far 2.52 lakh shares were traded in the counter, compared with average daily volume of 83,845 shares in the past one quarter. The stock hit a high of Rs 410 and a low of Rs 374.10 so far during the day. The stock hit a record high of Rs 437 on 5 November 2015. The stock hit a 52-week low of Rs 295.50 on 18 January 2016. The stock had outperformed the market over the past 30 days till 25 October 2016, rising 3.70% compared with 0.72% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 13.98% as against Sensexs 0.24% rise.

The large-cap company has equity capital of Rs 102.37 crore. Face value per share is Re 1.

Cadila Healthcare is a global pharmaceutical company that discovers, manufactures and markets a broad range of healthcare therapies.

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FICCI sets up Online Travel and Technology Committee to give a fillip to net-based travel
Oct 26,2016

FICCI has instituted the Online Travel and Technology Committee under the aegis of its existing Tourism Committee to champion the cause of netizens and online travel companies. FICCIs Online Travel and Technology Committee owes its genesis to the rapid penetration of Internet and mobile which has transformed the way travel industry operates and how travellers book and consume travel related products.

The chamber recognizes the changing travel market dynamics and the significant role online travel and technology is playing towards shaping the future travel booking, consumption and distribution trends. It understands the drivers towards these trends in-terms of internet penetration, usage of smart phones and simplification of transactional supported payment mechanism.

The Committee will be led by Mr. Dhruv Shringi, Co founder & CEO, Yatra Online and comprise key stakeholders of online travel companies including MakeMyTrip, Clear Trip and various other stakeholders and knowledge partners from the online travel segment of the tourism industry.

Says Dr. A Didar Singh, Secretary General, FICCI, n++The Committee has been formed for outlining the roadmap for a robust regulatory policy for the online travel industry and also to encourage innovation in travel & tourism sectorn++.

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Indias absolute score improved from 53.93 to 55.27 in the previous year
Oct 26,2016

The World Banks annual Doing Business 2017 report released recognizes Indias achievements in implementing reforms in four of its ten indicators-Trading Across Borders, Getting Electricity, Enforcing Contracts and Paying Taxes. This is the first time in its history that India has been recognized for improvement in four indicators.

Improvement in Ranking and Distance to Frontier

The Doing Business report ranks countries on the basis of Distance to Frontier, an absolute score that measures the gap between India and the global best practice. Indias absolute score improved from 53.93 to 55.27 in the previous year. This is the first time in history that India has improved its absolute score in two consecutive years. Additionally, Indias Distance to Frontier score improved on 6 out of the 10 indicators, showing that India is increasingly progressing towards best practice.

TopicsDB 2015 DB 2015
(Revised)
DB 2016 DB 2016 (Revised)DB 2017 Overall rank142134130131130Distance to Frontier52.67-54.6853.9355.27

The change in ranking of India across the 10 indicators is as follows:

TopicsDB 2015 RankDB 2016 RankDB 2017 RankGetting Electricity n++n++ 1377026Enforcing Contracts n++n++ 186178172Starting a Business n++n++158155155Registering Property n++n++ 121138138Resolving Insolvency n++n++ 137136136Construction Permits n++n++ 184183185Getting Credit n++n++ 364244Protecting Minority Investors n++n++ 7813Paying Taxes n++n++ 156157172Trading Across Borders n++n++ 126133143

Reforms Recognized by World Bank

I. On Getting Electricity, the report recognized the efforts of Tata Power in Delhi to make it faster and cheaper to obtain an electricity connection. These efforts, combined with efforts in Mumbai last year, have allowed India to improve its rank on this indicator from 137 in Doing Business 2015 to 26 in this years report, a 111 rank improvement.

II. The report has also recognized the establishment of Commercial Divisions within the High Courts in Delhi and Mumbai to deal with commercial cases above Rs. 1 crore. This has allowed India to improve its rank by 14 places in 2 years.

III. In the area of Trading Across Borders, the report recognized the implementation of the Single Window Interface for Trade (ICEGATE), which integrates approvals and risk-based frameworks of customs and nine departments to provide traders with a single online interface for import clearances.

IV. On Paying Taxes, the report recognized online filing and payment of returns at the Employees Social Insurance Corporation.

Reforms Not Recognized by World Bank This Year

The World Bank acknowledges only such reforms which have been implemented in Mumbai and Delhi by 1st of June each year; if they are reported as implemented by business intermediaries. Following major reforms have not been accounted for in current years report:

I. Enactment of the Insolvency and Bankruptcy Code has transformed Indias corporate insolvency landscape by replacing outdated laws with a new legal framework. Once implemented, it will improve our rank significantly in resolving insolvency index in next years ranking.

II. The constitutional amendment to enact a Goods and Services Tax, which will promote a common market across the country. On implementation, our rank on Starting a Business and Paying Taxes will improve significantly next year.

III. Introduction of online single window systems for building plan approval in Delhi and Mumbai, integrating permissions of various agencies. This has reduced time to process and issue building plan approvals from 231 days to 21.85 days on an average in Delhi, and from 147 days to 26.39 days in Mumbai. This will be reflected only in next years report after private sector respondents have used the system widely.

IV. Introduction and streamlining of INC-29 for company incorporation, which is currently used by 30% of new companies. This reform was not factored in this year because as per the World Banks methodology more than 50 per cent of users should have used the system in the period 2nd June, 2015 to 1st June, 2016.

V. The elimination of the requirement of a company seal while applying for government registrations and permissions at the time of setting up of a business. The Companies Act, 2013 was amended in 2015 to make provision for the same but has not been accounted for by the World Bank. The Bank has observed that, to open a bank account a company seal was required, which was not found to be the case.

VI. Online registration for ESIC and EPFO registration, which has expedited the time to register. This functionality has been made applicable from 1st December, 2015. The World Bank has not accepted the evidence provided in this regard.

VII. Online filing and payment of returns at the Employees Provident Fund Organization, where the majority of returns and payments are now filed and paid fully online. This reform has not been considered even though it was implemented by EPFO on 5th June, 2015. The World Bank has stated that this would be reflected in the rankings next year.

VIII. Streamlining of name reservation process at Ministry of Corporate Affairs, reducing the time taken to an average of 1.86 days.

IX. Registration under VAT and Profession Tax has been merged into a single process from 1st January, 2015 by Government of Maharashtra.

X. Registration for VAT in Delhi has been made online and is allotted real time and business can start operations immediately on receipt of TIN number.

Kokuyo Camlin tumbles after dismal Q2 results
Oct 26,2016

Meanwhile, the BSE Sensex was down 229.44 points, or 0.82%, to 27,861.98.

On BSE, so far 1.44 lakh shares were traded in the counter, compared with average daily volume of 37,558 shares in the past one quarter. The stock hit a high of Rs 82.65 and a low of Rs 79 so far during the day. The stock hit a 52-week high of Rs 113.90 on 6 November 2015. The stock hit a 52-week low of Rs 65 on 12 February 2016. The stock had outperformed the market over the past 30 days till 25 October 2016, rising 6.16% compared with 0.72% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 11.70% as against Sensexs 0.24% rise.

The small-cap company has equity capital of Rs 10.03 crore. Face value per share is Re 1.

Kokuyo Camlins total income from operations fell 0.15% to Rs 129.58 crore in Q2 September 2016 over Q2 September 2015.

Kokuyo Camlin makes stationery and colour products.

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Shakti Pumps (India) spurts after declaring Q2 result
Oct 26,2016

The announcement was made after market hours yesterday, 25 October 2016.

Meanwhile, the S&P BSE Sensex was down 222.69 points or 0.79% at 27,868.73

On BSE, so far 44,000 shares were traded in the counter as against average daily volume of 5,107 shares in the past one quarter. The stock hit a high of Rs 149.65 and low of Rs 135.20 so far during the day. The stock hit a 52-week high of Rs 184.30 on 12 April 2016. The stock had hit a 52-week low of Rs 95 on 24 February 2016. The stock had outperformed the market over the past 30 days till 25 October 2016, gaining 4.03% compared with 0.72% decline in the Sensex. The scrip, however, underperformed, the market in past one quarter, sliding 10.17% as against Sensexs 0.24% rise.

The small-cap company has equity capital of Rs 18.38 crore. Face value per share is Rs 10.

Shakti Pumps (India) is a manufacturer and exporter of stainless steel water pumps, motors and solar pumps.

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OCL Iron & Steel to hold EGM
Oct 26,2016

OCL Iron & Steel announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 26 November 2016 .

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Sword-Edge Commercials to hold board meeting
Oct 26,2016

Sword-Edge Commercials will hold a meeting of the Board of Directors of the Company on 25 October 2016.

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Nishtha Finance & Investment (I) to hold board meeting
Oct 26,2016

Nishtha Finance & Investment (I) will hold a meeting of the Board of Directors of the Company on 14 November 2016.

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S E Power to hold board meeting
Oct 26,2016

S E Power 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 for the second quarter/half year ended September 30, 2016.

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Dhanuka Commercial to hold board meeting
Oct 26,2016

Dhanuka Commercial will hold a meeting of the Board of Directors of the Company on 12 November 2016 to consider and approve the un-audited standalone Financial Results of the Company for the half-year ended on September 30, 2016 and to consider other matters as per notice of the Board Meeting including any other matters with the permission of the chair.

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Elango Industries to hold board meeting
Oct 26,2016

Elango Industries will hold a meeting of the Board of Directors of the Company on 2 November 2016 to consider the Un-audited Financial Results for Second Quarter and Half year ending September 30, 2016.

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Ramco Systems to hold board meeting
Oct 26,2016

Ramco Systems will hold a meeting of the Board of Directors of the Company on 9 November 2016 to consider and approve amongst others, the Un-audited Financial Results for the Quarter and Half year ended September 30, 2016.

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