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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 Prudential drops from record high
Apr 26,2017

Meanwhile, the S&P BSE Sensex was up 141.86 points or 0.47% at 30,085.10.

On the BSE, 82,000 shares were traded on the counter so far as against the average daily volumes of 1.56 lakh shares in the past one quarter. The stock had hit a high of Rs 423.35 so far during the day, which is a record high. The stock hit a low of Rs 409.05 so far during the day.

The stock had hit a record low of Rs 273.65 on 9 November 2016. It had outperformed the market over the past one month till 25 April 2017, surging 12.04% compared with the Sensexs 1.77% rise. The scrip had also outperformed the market over the past one quarter, gaining 18.38% as against the Sensexs 8.07% rise.

The large-cap company has equity capital of Rs 1435.35 crore. Face value per share is Rs 10.

On consolidated basis, ICICI Prudential Life Insurance Companys net profit rose 1.31% to Rs 408.24 crore on 122.31% growth in total income to Rs 14117.14 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 25 April 2017.

ICICI Prudential Life Insurance Companys board recommended a final dividend of Rs 3.50 per share for the year ended March 2017.

ICICI Prudential Life Insurance Company is the largest private sector life insurer in India. ICICI Prudential is a joint venture between ICICI Bank and Prudential Corporation Holdings, a part of the Prudential Group, an international financial services group. The company is one of the first private sector life insurance companies in India. It commenced operations in October 2000 and offers a range of life insurance, health insurance and pension products and services.

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Kolte-Patil Developers signs its largest private society redevelopment project
Apr 26,2017

Kolte Patil Developers has strengthened its Mumbai presence by signing its largest private society redevelopment project till date, Dahisar Shree Avadhoot Co-operative Housing Society, having a plot area of 15,035 square meters. Kolte Patils economic interest in this project is 4 lakh square feet.

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Nucleus Software vaults after posting strong Q4 results
Apr 26,2017

The result was announced after market hours yesterday, 25 April 2017.

The stock has jumped 19.9% in five sessions to its ruling price of Rs 312.05, from a close of Rs 260.25 on 19 April 2017.

Meanwhile, the S&P BSE Sensex was up 153.79 points, or 0.51% to 30,097.03. The S&P BSE Small-Cap index was up 72.15 points, or 0.47% to 15,452.04.

Huge volumes were witnessed on the counter. On the BSE, 2.24 lakh shares were traded in the counter so far, compared with average daily volumes of 18,278 shares in the past one quarter. The stock had hit a high of Rs 329.50 in intraday trade, which is also a 52-week high for the stock. The stock had hit a low of Rs 310 so far during the day. The stock had hit a 52-week low of Rs 171 on 29 September 2016.

The stock had outperformed the market over the past one month till 25 April 2017, gaining 12.19% compared with the Sensexs 1.77% rise. The scrip had, however, underperformed the market in past one quarter, gaining 2.9% as against Sensexs 8.07% rise.

The small-cap company has equity capital of Rs 32.38 crore. Face value per share is Rs 10.

Nucleus Softwares board of directors recommended a final dividend of Rs 5 per share for the year ended 31 March 2017.

The board of directors of the company at a meeting held on 25 April 2017, approved a buyback of upto an aggregate amount not exceeding Rs 117.79 crore, representing 25% of the paid up share capital and free reserves as on 31 March 2017 at a price not exceeding Rs 350 per equity share.

At the maximum offer price and for the maximum offer size, the indicative maximum number of equity shares that can be bought back would be 33.65 lakh equity shares representing 10.39% of the total paid up equity share capital of the company.

The buyback price of Rs 350 was at a premium of 23.23% to a closing price of Rs 284 hit yesterday, 25 April 2017.

Nucleus Software is the leading provider of lending and transaction banking products to the global financial services industry, supporting retail banking, corporate banking, cash management, internet banking, automotive finance and other business areas.

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NIIT Technologies partners with Thailand based Siam City Cement Company
Apr 26,2017

The Thailand based cement manufacturer, Siam City Cement Company has partnered with NIIT Technologies for building its future ready IT infrastructure. Supporting the digital transformation for SCCC, NIIT Technologies has designed, delivered and is operating its private and public cloud infrastructure.

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Online Statement Of Transaction (e-SOT) and the e-PRAN card launched for Atal Pension Yojana (APY) subscribers
Apr 26,2017

With a view to digitally empower the Atal Pension Yojana (APY) subscribers and improve the quality of service, the facility of online viewing of the statement of transaction(e-SOT) and also the e-PRAN card have been launched. More than 45 lacs APY subscribers are likely to be benefitted. The APY subscribers can visit the website: www.npscra.nsdl.co.in or www.npstrust.org.in under the Atal Pension Yojana Section to avail these value added facilities. By providing the APY/PRAN Acct details and Savings Bank Account number details, the APY subscriber can view ones APY Account Statement. Even for the APY subscriber who does not have his APY PRAN number readily available can also avail these facilities by providing ones Date of Birth and Savings Bank Account number details. This online tool enables the Subscribers to view his complete details of APY account like transaction details, pension amount, pension commencement date, nominee name, associated bank name etc. Even though the feature is a self-servicing tool but the service providers can also access the feature on behalf of their customer to improve the quality of customer service. APY Subscribers can print their e PRAN card and get it laminated for their future reference if needed. In case of any changes in the demographic details in the APY account, the subscribers can re-print their e-PRAN which shows the updated subscriber records.

The Atal Pension Yojana (APY) Scheme is being implemented through 235 APY-Service Providers all over the country consisting of 27 Public Sector Banks (PSBs), 19 private banks, 1 foreign bank, 56 Regional Rural Banks (RRBs), 109 District Cooperative Banks (DCBs), 16 State Cooperative Banks(SCBs), 6 Urban Cooperative Banks (UCBs) and the Department of Posts. All the APY-SPs are partners in achieving the APY outreach through-out the length and breadth of the country. Presently, there are more than 45 lacs subscribers registered in the Scheme. About 10000-15000 APY subscribers are getting enrolled into the Scheme every day.

The Atal Pension Yojana (APY) was launched by the Prime Minister of India Shri Narendra Modi on 09th May, 2015 and became operational from 1st June, 2015. APY is available for all citizens of India in the age group of 18-40 years. Under the APY, the subscribers would receive a minimum guaranteed pension of Rs. 1000 to Rs. 5000 per month from the age of 60 years, depending on their contributions, which depends on the age of the subscriber at the time of joining the APY. The Same amount of pension is paid to the spouse in case of subscribers demise. After the demise of both i.e. Subscriber & Spouse, the nominee would be paid with the pension corpus. There is option for Spouse to continue to contribute for balance period on premature death of subscriber before 60 years, so as to avail pension by Spouse. There are tax benefits at entry, accumulation and pension payment phases. If the actual returns on the pension contributions during the accumulation phase are higher than the assumed returns for the minimum guaranteed pension, such excess returns are passed on to the subscriber, resulting in enhanced scheme benefits.

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Board of IDFC Bank approved raising of LT funds up to Rs 10000 crore
Apr 26,2017

IDFC Bank announced that the Board of Directors of the Company at its meeting held on 25 April 2017 has granted its approval for borrowing / raising long term funds by issue of redeemable Non-Convertible Debentures and other debt instruments, including instruments eligible for capital benefits under BASEL III norms, on private placement basis, up to an amount not exceeding Rs.10,000 crore, in one or more tranches, in domestic / overseas market, over a period of 1 year, within the overall borrowing limit of Rs. 1,50,000 crore as approved by the Shareholders of the Bank. The aforesaid securities post allotment would be listed on NSE and / or BSE. The aforesaid issue shall be subject to the approval of the Shareholders at the ensuing Annual General Meeting and any other regulatory approvals as may be applicable.

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Crest Ventures acquires 20% stake in BVA Strategy Advisors
Apr 26,2017

Crest Ventures has acquired 3,913 Equity Shares i.e. a stake of 20% in BVA Strategy Advisors (BVA) at a total consideration of Rs. 89,99,900/- pursuant to which BVA has become an Associate Company of CVL w.e.f. 24 April 2017.

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Indian Terrain Fashions gains as Reliance MF buys shares
Apr 26,2017

Meanwhile, the S&P BSE Sensex was up 159.67 points or 0.53% at 30,102.91. The S&P BSE Small-Cap index was up 90.31 points or 0.59% at 15,470.20.

On the BSE, 62,000 shares were traded on the counter so far as against the average daily volumes of 9,759 shares in the past one quarter. The stock had hit a high of Rs 212 so far during the day, which is a record high. The stock hit a low of Rs 204 so far during the day.

The stock had hit a 52-week low of Rs 117.10 on 9 May 2016. It had outperformed the market over the past one month till 25 April 2017, surging 20.33% compared with the Sensexs 1.77% rise. The scrip had also outperformed the market over the past one quarter, gaining 30.86% as against the Sensexs 8.07% rise.

The small-cap company has equity capital of Rs 7.59 crore. Face value per share is Rs 2.

DSP Blackrock Mutual Fund sold 7 lakh shares of Indian Terrain Fashions at an average price of Rs 200 per share in bulk deals on the NSE yesterday, 25 April 2017. Reliance Mutual Fund A/C Reliance Equity Savings Fund purchased 2 lakh shares at Rs 199.78 per share. Reliance Mutual Fund A/C Small Cap Fund bought 4 lakh shares at Rs 199.78 a piece.

Indian Terrain Fashions net profit fell 37.9% to Rs 5.62 crore on 23.8% growth in net sales to Rs 94.27 crore in Q3 December 2016 over Q3 December 2015.

Indian Terrain Fashions is engaged in the business of manufacture and sale of apparel.

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Suzlon Energy announces ratings assignment for proposed CP issue of Suzlon Global Services
Apr 26,2017

Suzlon Energy announced that CARE has assigned a CARE A1+ (structured obligation) ratings for the proposed commercial paper issue of Rs 50 crore of Suzlon Global Services.

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Outcome of board meeting of Bombay Rayon Fashions
Apr 26,2017

Bombay Rayon Fashions announced that the Board of Directors of the Company at its meeting held on 25 April 2017 has approved the following -

Issuance of equity shares upto 48,26,982 of face value of Rs. 10/- each on preferential basis in accordance with Chapter VII of SEBI (ICDR) Regulation, 2009, pursuant to conversion of Working Capital term loans (WCTL) and/or Funded Interest Term Loans (FITL) by the CDR package to the lenders who may not exercise their rights within the validity period of the resolution approved by shareholders of the Company at the Extra-ordinary General Meeting held on 09 May 2016.

Issuance of equity shares upto 126,655,304 on preferential basis, in accordance with Chapter VII of SEBI (ICDR) Regulations, 2009 and other applicable provisions of the Companies Act, 2013, representing 39.89% of the expanded share capital and such number of Optionally Convertible Debentures (OCDs) of face value Rs. 1000/- each not exceeding Rs. 410 crore to the Lenders under Scheme for Sustainable Structuring of Stressed Assets (S4A scheme).

Convening of Extra-ordinary General Meeting on 20 May 2017 for approving the interalia above mentioned matters.

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HDFC Bank allots 2363400 equity shares
Apr 26,2017

HDFC Bank has allotted 2363400 equity shares to the employees of the Bank pursuant to exercise of options under its Employees Stock Options Schemes (ESOS). The paid up share capital of the Bank will accordingly increase from Rs. 5125091434 equity shares of Rs 2/- each to Rs. 5129818234 equity shares of Rs 2/- each.

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Swaraj Engines hits record high
Apr 26,2017

The result was announced after market hours yesterday, 25 April 2017.

Meanwhile, the S&P BSE Sensex was up 128.90 points or 0.43% at 30,072.14. The S&P BSE Small-Cap index was up 85.19 points or 0.55% at 15,465.08.

On the BSE, 23,000 shares were traded on the counter so far as against the average daily volumes of 920 shares in the past one quarter. The stock had hit a high of Rs 1,984.20 so far during the day, which is a record high. The stock hit a low of Rs 1,718 so far during the day.

The stock had hit a 52-week low of Rs 1,079.75 on 16 May 2016. It had outperformed the market over the past one month till 25 April 2017, surging 17.91% compared with the Sensexs 1.77% rise. The scrip had also outperformed the market over the past one quarter, gaining 16.83% as against the Sensexs 8.07% rise.

The small-cap company has equity capital of Rs 12.42 crore. Face value per share is Rs 10.

Swaraj Engines is in the business of supplying engines to the Swaraj division of Mahindra & Mahindra. The company also manufactures hi-tech engine components for SML Isuzu.

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Mahindra & Mahindra Financial drops on weak Q4 results
Apr 26,2017

The result was announced after market hours yesterday, 25 April 2017.

Meanwhile, the S&P BSE Sensex was up 135.24 points or 0.45% at 30,078.48.

On the BSE, 98,054 shares were traded in the counter so far as against average daily volume of 1.95 lakh shares in the past one quarter. The stock had hit a high of Rs 347.75 and a low of Rs 336.10 so far during the day. The stock had hit a record high of Rs 405 on 4 October 2016. The stock had hit a 52-week low of Rs 244.35 on 27 December 2016.

The stock had outperformed the market over the past one month till 25 April 2017, gaining 6.24% compared with the Sensexs 1.77% rise. The scrip had also outperformed the market in past one quarter, surging 19.16% as against Sensexs 8.07% rise.

The large-cap company has equity capital of Rs 113.75 crore. Face value per share is Rs 2.

During the quarter ended 31 March 2017, the total value of asset financed was Rs 8376 crore as against Rs 6811 crore during the quarter ended 31 March 2016, a value growth of 23%.

Mahindra & Mahindra Financial Services, part of the Mahindra Group, is one of Indias leading non-banking finance companies.

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EID Parry (India) provides update on scheme of amalgamation
Apr 26,2017

EID Parry (India) announced that following NCLT sanctioning the scheme of amalgamation of the Companys subsidiary, Parrys Sugar Industries with EID Parry (India ), the Company has filed on 25 April 2017 e-form No INC 28 with the Registrar of Companies, Chennai along with the Certified True Copy of the sanction Order. As Parrys Sugar Industries has also filed the e-form No INC 28 with the Registrar of Companies, Bengaluru, the Scheme has become effective from 25 April 2017 with the appointed date of 01 April 2016.

Consequent to the Scheme becoming effective, the authorized share capital of the Company stands increased from Rs 2,62,50,00,000/- (Rupees Two Hundred and Sixty Two Crores Fifty Lakhs Only) to Rs 4,37,50,00,000/-. The increase represents the authorized share capital of the Transferor Company, Parrys Sugar Industries. This has been effected in clause v of the memorandum of association of the Company.

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Va Tech Wabag provides update on subsidiary
Apr 26,2017

Va Tech Wabag announced that VA Tech Wabag (Spain) S.L.U, Spain, the Companys wholly owned subsidiary is liquidated.

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