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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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ICICI Bank approves proposed borrowing plan for remaining period of FY 2017
Dec 09,2016

ICICI Bank announced that the Committee of Executive Directors of the Bank at its meeting held on 09 December 2016 approved the proposed borrowing plan for the remaining period of FY 2017.

Further, the Bank, acting through its DIFC (Dubai) branch, priced an issuance of 5 year fixed rate notes for an aggregate principal amount of JPY 10 billion under the Banks Tokyo Pro-Bond Programme which is listed in Tokyo Stock Exchange.

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M,74 projects supported by NMPB over last 3 years for conducting training programmes on medicinal plants
Dec 09,2016

Fromtime to time, the National Medicinal Plants Board (NMPB),   Ministry of AYUSH under its Central Sector Scheme organizes training programmes, workshops, seminars etc. for farmers, entrepreneurs for cultivation/production, processing and marketing of herbs/medicinal plants through its Facilitation Centers in different states of the country. During the last three years a total of 35 such training programmes/workshops/ Stakeholder meets were supported through these Facilitation Centers of NMPB.  In addition, during the last three years, the NMPB under its Central Sector Scheme has also supported 74 projects in different states for conducting trainingprogrammes/ workshops / seminars etc. on various aspects of medicinal plants / herbs. During the last three years, to support above training programmes/ activities, the NMPB has released a total of ₹ 443.66 Lakh under its Central Sector Scheme.

 During the last three years the amount of grant/fund allocated for production/ cultivation of herbs/medicinal plants under NMPB, Ministry of AYUSHs Centrally Sponsored Scheme of National Mission on Medicinal Plants(NMMP) and National AYUSH Mission (NAM) scheme is as below: 

Name of the SchemeFinancial YearFund Allocated

(Rs. in Lakh)

Centrally Sponsored Scheme of National Mission on Medicinal Plants (NMMP)2013-147381.952014-157313.88Centrally Sponsored Scheme of National AYUSH Mission (NAM)2015-162779.82

The NMPB, Ministry of AYUSH through Quality Council of India (QCI) has designed a Scheme titled Voluntary Certification Scheme for Medicinal Plants Produce (VCSMPP) based on Good Agricultural Practices (GAPs) and Good Field Collection Practices (GFCPs) of medicinal plants.

To effectively implement the scheme and its better acceptability, understanding by farmers, collectors and traders of the medicinal plants, the NMPB is planning strategies along with QCI. In addition, the NMPB has also conducted a meeting with the Manufactures of herbal products/ASU&H Drug Manufacturing Associations in the country and explained them the scheme.

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More than 3 lakh Formulations from the texts of AYUSH System have been digitalized under TKDL: Shri ShripadYesso Naik
Dec 09,2016

As per the information provided by Department of Industrial Policy & Promotion (DIPP), 204 Patents have since been granted on formulations/ processes/ products of herbs / plants. DIPP has further stated that Patents are issued on inventions that satisfy the patentability criteria as laid out in the Patents Act, 1970. As per the Patents Act 1970 (as amended), patents can be imparted only to new formulations based on products related to herbs/ plants or processes related thereto, which are not in public domain and fulfill the criteria of patentability.

The Drugs and Cosmetics Act 1940 and Rules 1945, does not have any provision for registration of Ayurvedic formulations. To protect Traditional Medicinal Knowledge of India, the Ministry of AYUSH has created Traditional Knowledge Digital Library (TKDL) in collaboration with Council for Scientific & Industrial Research (CSIR) for digitalization of traditional medicinal knowledge. More than 3 lakh formulations from the texts of Ayurveda, Unani and Siddha Systems have been digitalized till date under TKDL to protect Traditional Knowledge from misappropriation by providing defensive protection.

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Board of Prime Capital Market to consider shifting of registered office
Dec 09,2016

Prime Capital Market announced that the meeting of Board of Directors of the Company will be held on 14 December 2016 to consider followings :

1. To Shift its Registered Office from City of Orissa (Bhuvaneshwar) to City of West Bengal (Kolkata)

2. To seek shareholders approval by way of Postal Ballot for shifting of its Registered Office.

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Board of Tayo Rolls to consider allotment of preference shares
Dec 09,2016

Tayo Rolls announced that a meeting of the Committee of the Board will be held on 13 December 2016 for allotment of 7.17% Non-cumulative Redeemable Preference Shares.

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Gujarat State Financial Corporation announces appointment of Chairman
Dec 09,2016

Gujarat State Financial Corporation announced that Small Industries Development Bank, Mumbai, vide letter dated 05 December 2016, nominated P. K. Taneja, IAS, Managing Director, as Chairman of the Corporation.

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MIC Electronics receieves order from EESL
Dec 09,2016

MIC Electronics announced that the Company have received Letter of Award for supply 20,000 Standalone Off Grid Solar LED Street Lights with contract price of Rs. 32.85 crore. This is an initial release against the total quantity of 80,000 Nos expected from EESL in due course. The balance contract value expected is to the tune of Rs.98.56 crore.

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UPL provides update on Mauritius subsidiary - UPL Corporation
Dec 09,2016

UPL announced that UPL Corporation, a wholly owned subsidiary of UPL , based in Mauritius, has sold its shares held in Villa Crop Protection (Pty) to an affiliate of Land O Lakes Inc., an American company. UPL Corporation owned 19.22% of the shares in Villa Crop Protection (Pty) . For sale of the shares, UPL Corporation has received approximately Rs. 22 crore.

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Wockhardt gets revision in credit ratings
Dec 09,2016

Wockhardt announced that Credit Analysis & Research (CARE Rating) has re-affirmed the Companys Rating for total Working Capital limit as CARE AA and CARE A1+ for Long - Term Bank Facilities (Fund Based) and Short Term Bank Facilities (Non Fund Based) respectively.

Further, India Ratings and Research has re-affirmed the short-term Bank facilities rating at IND A1+ and assigned the Companys long-term loan facilities rating to IND AA- from IND AA.

CARE Rating has also assigned CARE AA rating for the proposed issue of NCDs of Rs. 250 crore of the Company.

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Quess Corp completes acquisition of Terrier Security Services (India)
Dec 09,2016

Quess Corp announced that the Company has completed the acquisition of 49% equity in Terrier Security Services (India), on 09 December 2016.

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Gayatri Projects builds on good Q2 results
Dec 09,2016

The announcement was made after market hours yesterday, 8 December 2016.

Meanwhile, the BSE Sensex was up 87.52 points, or 0.33%, to 26,781.80.

More than usual volumes were witnessed on the counter. On the BSE, 6,899 shares were traded in the counter so far, compared with average daily volume of 4,656 shares in the past one quarter. The stock had hit a high of Rs 644 and a low of Rs 619.10 so far during the day. The stock had hit a record high of Rs 790 on 23 September 2016. The stock had hit a 52-week low of Rs 482 on 17 February 2016.

The stock had underperformed the market over the past 30 days till 8 December 2016, falling 6.41% compared with 3.25% fall in the Sensex. The scrip had also underperformed the market in past one quarter, falling 7% as against Sensexs 8.09% decline.

The small-cap company has equity capital of Rs 35.45 crore. Face value per share is Rs 10.

Gayatri Projects is a Hyderabad-based infrastructure and construction company with a presence across the segment, and a special focus on road and irrigation projects.

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Water Level of 91 Major Reservoirs of the Country Goes Down by One Per Cent
Dec 09,2016

The Water storage available in 91 major reservoirs of the country for the week ending on December 08, 2016 was 100.326BCM, which is 64% of total storage capacity of these reservoirs. This was 126% of the storage of corresponding period of last year and 98% of storage of average of last ten years.

The total storage capacity of these 91 reservoirs is 157.799 BCM which is about 62% of the total storage capacity of 253.388 BCM which is estimated to have been created in the country. 37 Reservoirs out of these 91 have hydropower benefit with installed capacity of more than 60 MW.

REGION WISE STORAGE STATUS:-

NORTHERN REGION

The northern region includes States of Himachal Pradesh, Punjab and Rajasthan. There are 6 reservoirs under CWC monitoring having total live storage capacity of 18.01 BCM. The total live storage available in these reservoirs is 9.95 BCM which is 55% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 64% and average storage of last ten years during corresponding period was 65% of live storage capacity of these reservoirs. Thus, storage during current year is less than the corresponding period of last year and is also less than the average storage of last ten years during the corresponding period.

EASTERN REGION

The Eastern region includes States of Jharkhand, Odisha, West Bengal and Tripura. There are 15 reservoirs under CWC monitoring having total live storage capacity of 18.83 BCM. The total live storage available in these reservoirs is 15.26 BCM which is 81% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 60% and average storage of last ten years during corresponding period was 69% of live storage capacity of these reservoirs. Thus, storage during current year is better than the corresponding period of last year and is also better than the average storage of last ten years during the corresponding period.

WESTERN REGION

The Western region includes States of Gujarat and Maharashtra. There are 27 reservoirs under CWC monitoring having total live storage capacity of 27.07 BCM. The total live storage available in these reservoirs is 20.61 BCM which is 76% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 47% and average storage of last ten years during corresponding period was 71% of live storage capacity of these reservoirs. Thus, storage during current year is better than the storage of last year and is also better than the average storage of last ten years during the corresponding period.

CENTRAL REGION

The Central region includes States of Uttar Pradesh, Uttarakhand, Madhya Pradesh and Chhattisgarh. There are 12 reservoirs under CWC monitoring having total live storage capacity of 42.30 BCM. The total live storage available in these reservoirs is 34.23 BCM which is 81% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 63% and average storage of last ten years during corresponding period was 60% of live storage capacity of these reservoirs. Thus, storage during current year is better than the storage of last year and is also better than the average storage of last ten years during the corresponding period.

SOUTHERN REGION

The Southern region includes States of Andhra Pradesh, Telangana, AP&TG(Two combined projects in both states) Karnataka, Kerala and Tamil Nadu. There are 31 reservoirs under CWC monitoring having total live storage capacity of 51.59 BCM. The total live storage available in these reservoirs is 20.27 BCM which is 39% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 35% and average storage of last ten years during corresponding period was 65% of live storage capacity of these reservoirs. Thus, storage during current year is better than the corresponding period of last year but is less than the average storage of last ten years during the corresponding period.

States having better storage than last year for corresponding period are Punjab, Rajasthan, Jharkhand, Odisha, West Bengal, Gujarat, Maharashtra, Uttar Pradesh, Madhya Pradesh, Chhattisgarh, AP&TG (Two combined projects in both states), Telangana and Karnataka. State having equal storage than last year for corresponding period is Uttarakhand. States having lesser storage than last year for corresponding period are Himachal Pradesh, Tripura, Andhra Pradesh, Kerala and Tamil Nadu.

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Quantity of wastage of foodgrains in FCI reduce to 3115 tons in 2015-16
Dec 09,2016

Quantity of foodgrains accrued as damaged/non issuable in Food Corporation of India (FCI) during last three years is given below: YearQuantity in tons2013-1424695.4552014-1518847.2262015-163115.684

Government has enough stocks of foodgrains to meet the demands of the Public Distribution System (PDS) and other welfare schemes. Stock position of foodgrains in Central Pool against the Stocking Norms as on 01.10.2016 is given below:
Figure in lakh tons

CommodityStocking Norms as onn++ 01.10.2016Stock in Central Pool as on 01.10.2016Stock of foodgrains over and above Stocking NormsWheat195.20213.2818.08Rice112.50158.7246.22

Scientifically constructed godowns provide adequate protection and are used for storage of Central Pool foodgrains. As on 31.10.2016, total 782.99 lakh ton capacity (including State Government/agencies capacity) is available for storage of Central Pool foodgrains. There are already standing instructions for preservation of foodgrains in godowns holding Central foodgrain stocks.

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M&M slips after plans of no production days at some plants on need basis
Dec 09,2016

The announcement was made after market hours yesterday, 8 December 2016.

On the BSE, 43,890 shares were traded on the counter so far as against the average daily volumes of 78,604 shares in the past one quarter. The stock had hit a high of Rs 1,217.45 and a low of Rs 1,190 so far during the day.

The stock had hit a record high of Rs 1,508.80 on 9 August 2016 and a 52-week low of Rs 1,092 on 12 February 2016. It had underperformed the market over the past one month till 30 November 2016, sliding 12.88% compared with the Sensexs 4.57% fall. The scrip had also underperformed the market in the past one quarter, declining 19% as against the Sensexs 5.96% fall.

The large-cap company has equity capital of Rs 310.55 crore. Face value per share is Rs 5.

Mahindra & Mahindra (M&M) announced that the company will be undertaking scheduled maintenance shutdown at some of its automotive and tractor plants in December, 2016. It will also observe on need basis few days as no production days at some of its automotive and/or tractor plants including Chakan plant of its wholly owned subsidiary Mahindra Vehicle Manufacturers as part of its efforts to optimize inventories during December year-end.

The management does not envisage any adverse impact on the availability of products in the market due to adequacy of stocks to serve the market requirements.

M&Ms net profit rose 27.1% to Rs 1163.27 crore on 13.8% growth in net sales to Rs 10411.67 crore in Q2 September 2016 over Q2 September 2015.

M&M enjoys a leadership position in tractors and utility vehicles in India.

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M&M slips on plans of no production days at some plants on need basis
Dec 09,2016

The announcement was made after market hours yesterday, 8 December 2016.

On the BSE, 43,890 shares were traded on the counter so far as against the average daily volumes of 78,604 shares in the past one quarter. The stock had hit a high of Rs 1,217.45 and a low of Rs 1,190 so far during the day.

The stock had hit a record high of Rs 1,508.80 on 9 August 2016 and a 52-week low of Rs 1,092 on 12 February 2016. It had underperformed the market over the past one month till 30 November 2016, sliding 12.88% compared with the Sensexs 4.57% fall. The scrip had also underperformed the market in the past one quarter, declining 19% as against the Sensexs 5.96% fall.

The large-cap company has equity capital of Rs 310.55 crore. Face value per share is Rs 5.

Mahindra & Mahindra (M&M) announced that the company will be undertaking scheduled maintenance shutdown at some of its automotive and tractor plants in December, 2016. It will also observe on need basis few days as no production days at some of its automotive and/or tractor plants including Chakan plant of its wholly owned subsidiary Mahindra Vehicle Manufacturers as part of its efforts to optimize inventories during December year-end.

The management does not envisage any adverse impact on the availability of products in the market due to adequacy of stocks to serve the market requirements.

M&Ms net profit rose 27.1% to Rs 1163.27 crore on 13.8% growth in net sales to Rs 10411.67 crore in Q2 September 2016 over Q2 September 2015.

M&M enjoys a leadership position in tractors and utility vehicles in India.

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