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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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Dharamsi Morarji Chemicals Co to hold board meeting
Oct 24,2016

Dharamsi Morarji Chemicals Co will hold a meeting of the Board of Directors of the Company on 27 October 2016.

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RSWM to hold board meeting
Oct 24,2016

RSWM will hold a meeting of the Board of Directors of the Company on 10 November 2016 to consider the Unaudited Financial Results of the Company for the quarter and half year ended the September 30, 2016.

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Automobile Corporation Of Goa to hold board meeting
Oct 24,2016

Automobile Corporation Of Goa will hold a meeting of the Board of Directors of the Company on 4 November 2016 to consider and approve the Audited Financial Results for the Quarter/Half Year ended September 30, 2016.

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Swachh Bharat Mission(Urban) broadly on course meeting toilet construction target
Oct 24,2016

During the two years of Swachh Bharat Mission, 22,97,389 individual household toilets have so far been constructed in urban areas of the country as against the five year mission target of 66,42,221 such toilets to be built by 2019. With 35% of mission target being met in two years i.e 40% of the mission duration, construction of toilets meant for ending Open Defecation in urban areas is broadly on course.

Gujarat and Andhra Pradesh have met the mission targets three years ahead in September this year with Gujarat fulfilling the target of 4,06,388 toilets and Andhra Pradesh building 1,93,426 toilets in urban areas and have declared them Open Defecation Free in urban areas.

Minister of Urban Development Shri M.Venkaiah Naidu reviewed the progress of the mission in urban areas today.

Other leading performers are kerala having built 62,450 which comes to 68% of the mission target of 90,986, Chattisgarh-1,83,726 (61% of 3,00,000), Madhya Pradesh -2,34,377 (46% of 5,12,389) and Tamil Nadu -2,57,781 (43% of mission target of 6,02,029 toilets).

The States that have met over 30% of mission targets are: Maharashtra -33% having built 2,07,888 toilets out of the mission target of 6,29,819, Uttar Pradesh-31% (2,53,979/8,28,237), Karnataka-31% (1,09,704/3,50,000) and Jharkhand -30% (47,968/ 1,61,713).

Telangana has met 28% of the mission target having built 59,967 of the 2,16,075 toilets, followed by West Bengal-23% (1,20,628/5,15,419), Puducherry -22% (2,135/9,626), Punjab-19% (26,188/1,38,010).

States and Union Territories who have built less than 10% of mission targets are : Manipur (9%), Bihar (7.40%), Uttarakhand (7%), Odisha (4.40%), Mizoram (3.34%) and Arunachal Pradesh (1.60%).

Swachh Bharat Mission was launched on October 2,2014 targeting construction of 1.04 cr individual household toilets in urban areas based on 2011 Census. Subsequently, taking in to consideration the construction of toilets during 2011-14, mission target in this regard has been revised to 66,42,221 toilets based on the assessment of States/UTs.

As per the revised targets 14 States and the UT of Delhi account for 80% of the target. These 15 States/UT have till September this year built 21,64,860 toilets accounting for 94% of the total toilets so far built and 32% of the total mission target. States and UTs lagging behind proportionate targets are expected to catch up as mission progresses.

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LG Balakrishnan gallops after declaring good Q2 outcome
Oct 24,2016

The announcement was made on Saturday, 22 October 2016.

Meanwhile, the BSE Sensex was up 84.04 points or 0.3% to 28,161.22

On BSE, so far 1.09 lakh shares were traded in the counter as against an average daily volume of shares in the past one quarter. The stock hit a high of Rs 700, which is also its 52-week high. The stock hit a low of Rs 625 so far during the day. The stock had hit a 52 week low of Rs 396.50 on 12 February 2016. The stock had outperformed the market over the past 30 days till 21 October 2016, rising 2.43% compared with 2.42% decline in the Sensex. The scrip also outperformed the market in past one quarter, gaining 17.1% as against Sensexs 0.99% rise.

The small-cap auto ancillary company has equity capital of Rs 15.70 crore. Face value per share is Rs 10.

LG Balakrishnan & Bros is Indias leading Roller chain manufacturer. The company is premier manufacturer of automotive chains under the brand name ROLON.

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Adani Power slips after Q2 results
Oct 24,2016

The result was announced during trading hours today, 24 October 2016.

Meanwhile, the BSE Sensex was up 84.85 points, or 0.30%, to 28,162.03.

On BSE, so far 15.01 lakh shares were traded in the counter, compared with average daily volume of 7.86 lakh shares in the past one quarter. The stock hit a high of Rs 28.25 and a low of Rs 26.80 so far during the day. The stock hit a 52-week high of Rs 36.10 on 4 April 2016. The stock hit a 52-week low of Rs 22.45 on 12 February 2016. The stock had outperformed the market over the past 30 days till 21 October 2016, falling 0.72% compared with 2.42% decline in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 2.81% as against Sensexs 0.99% rise.

The mid-cap company has equity capital of Rs 3417.45 crore. Face value per share is Rs 10.

Adani Powers consolidated total income rose 1.49% to Rs 5870 crore in Q2 September 2016 over Q2 September 2015. Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 5% to Rs 1915 crore in Q2 September 2016 over Q2 September 2015. Finance cost fell 13.09% to Rs 1434 crore in Q2 September 2016 over Q2 September 2015.

The company sold 15.04 billion units in Q2 September 2016, a tad lower than 15.10 billion units in Q2 September 2015. The overall plant availability during Q2 September 2016 was 92% as against 85% in Q2 September 2015, reflecting improved operating performance at all plants.

Commenting on the quarterly results of the company, Vineet Jaain, Chief Executive Officer, Adani Power, said during Q2 September 2017, the company has been able to improve the availability at all plants, with an improvement in operational efficiency. Efforts to optimise finance costs, aided by efficient operations, have helped the company reduce net loss significantly during the quarter, as compared to the corresponding quarter of of the previous year. Going forward, the firm expects to benefit from improved domestic coal availability through the recently announced special forward coal e-auction scheme for the power sector.

Adani Power is the largest private thermal power producer in India with an installed capacity of 10,480 megawatts (MW).

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Gartner Says Insurance Firms Should Investigate Insurtechs to Complement Their Own Digital Strategies
Oct 24,2016

Insurance sector CIOs need to expand their market insight concerning the innovation and disruption potential of insurance technology startups (insurtechs) to complement their digital insurance strategies, according to Gartner, Inc.

According to Gartner research, 64 percent of the worlds 25 largest insurance companies have already invested directly or indirectly via their venture capital arms in insurtech startups.

Gartner predicts that 80 percent of life and property & casualty (P&C) insurers worldwide will partner with or acquire insurtechs to secure their competitive positions by the end of 2018.

Juergen Weiss, managing vice president at Gartner, said insurtechs can stimulate or accelerate innovation among incumbent industry players and complement existing digital insurance strategies.

Gartner has seen growing interest among insurance business and IT leaders in collaborating with insurtechs or making them part of their overall innovation policies, but the research has also found that most insurance CIOs are not familiar with these companies or their value propositions, said Mr. Weiss. We advise CIOs to identify areas where insurtechs could complement their digital insurance strategies, and evaluate potential collaboration or investments.

Gartner defines insurtechs as technology companies (1) that are in their early stages of operation; (2) that drive specific innovation across the insurance value chain by leveraging new technologies, user interfaces, business processes or business models; and (3) that leverage different forms of funding, including, but not limited to, venture capital.

The number of technology startups in the insurance industry has more than doubled globally during the last three years, according to Gartner analysis of the sector conducted in the second quarter of 2016. Digital customer engagement, mobile insurance management and analytics are the most common technology focus areas of insurtechs.

Sixty percent of insurtechs have been founded within the last three years, and two-thirds of them have their headquarters in the U.S. EMEA is the second-most important region for insurtechs, with 27 percent having their headquarters there, mainly in Germany and the U.K. In Asia, countries such as Singapore and China (mainly Hong Kong and Shanghai) have begun to promote the development of a local insurtech ecosystem.

Digitalization is one of the top priorities for insurance CIOs, according to Gartner surveys. However, the vast majority of insurance CIOs are still struggling to progress their digital strategies.

Gartners research indicates that only 12 percent of insurance business and IT leaders consider their organizations to be digitally progressive, while the majority believe that their organizations are digital beginners or intermediate, at best. Reasons for this include a lack of agility caused by legacy IT systems, flat IT budgets and a lack of the right skills or the delivery models to support innovative business models.

Collaborating with insurtechs, or at least evaluating them, could therefore provide a number of potential benefits for insurers, said Mr. Weiss.

According to Gartner, insurers have six main options to capitalize on the opportunities that insurtechs provide:

1.Partner (for example, Axa partnering with BlaBlaCar for carsharing).

2.Acquire, that is, purchase the intellectual assets and hire all resources of an insurtech.

3.Purchase (like one would buy technology from an incumbent vendor such as SAP).

4.Invest (obtain a minority or majority share, either directly or indirectly, via a VC arm, such as Allianzs investment in Simplesurance).

5.Incubate (for example, let insurtechs compete to get into a startup accelerator; mentor them; and give them a space to work and exchange ideas).

6.Insure the operations or assets of insurtechs.

Insurance CIOs who are planning to partner with insurtechs also need to be aware of the risks.

Not all of them will survive, said Mr. Weiss. Insurance CIOs will need to develop a fail-fast approach and an exit plan that secures intellectual property and critical resources.

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Volumes jump at Gammon Infrastructure Projects counter
Oct 24,2016

Gammon Infrastructure Projects clocked volume of 1.75 crore shares by 14:51 IST on BSE, a 139.88-times surge over two-week average daily volume of 1.26 lakh shares. The stock was unchanged at Rs 5.

Oberoi Realty notched up volume of 15.69 lakh shares, a 115.84-fold surge over two-week average daily volume of 14,000 shares. The stock rose 2.8% to Rs 341.20

Dynamatic Technologies saw volume of 86,000 shares, a 115.11-fold surge over two-week average daily volume of 748 shares. The stock rose 2.46% to Rs 3,392.55.

Manpasand Beverages clocked volume of 3.77 lakh shares, a 71.32-fold surge over two-week average daily volume of 5,000 shares. The stock rose 1.97% to Rs 735.35

LG Balakrishnan & Bros saw volume of 1.04 lakh shares, a 47.81-fold rise over two-week average daily volume of 2,000 shares. The stock rose 15.16% to Rs 676.

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SQS India BFSI fixes record date for interim dividend
Oct 24,2016

SQS India BFSI has fixed Record Date as 04 November 2016 for the purpose of interim dividend for the financial year 2016-17.

The Date of Payment of Dividend will be on or before 18 November 2016.

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Jayant Agro Organics fixes record date for 2nd interim dividend
Oct 24,2016

Jayant Agro Organics has fixed 04 November 2016 as the Record Date for the purpose of Payment of 2nd Interim Dividend.

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Farry Industries to hold board meeting
Oct 24,2016

Farry Industries will hold a meeting of the Board of Directors of the Company on 10 November 2016 to consider and take on record the Unaudited Financial Results of the Company for the Quarter ended September 30, 2016.

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Nahar Capital & Financial Services to hold board meeting
Oct 24,2016

Nahar Capital & Financial Services will hold a meeting of the Board of Directors of the Company on 11 November 2016 to consider and approve the un-audited Financial Results for the quarter and half year ended September 30, 2016.

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Pincon Spirit to hold board meeting
Oct 24,2016

Pincon Spirit will hold a meeting of the Board of Directors of the Company on 7 November 2016 Unaudited Financial Results for Quarter Ended September 30, 2016.

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Rural Electrification Corporation to hold board meeting
Oct 24,2016

Rural Electrification Corporation will hold a meeting of the Board of Directors of the Company on 9 November 2016 to consider and approve the Un-audited (Standalone) Financial Results of the Company for the second quarter ended September 30, 2016 (Q2).

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Kallam Spinning Mills to hold board meeting
Oct 24,2016

Kallam Spinning Mills will hold a meeting of the Board of Directors of the Company on 10 November 2016 to consider the Un audited financial results for the quarter and half year ended September 30, 2016.

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