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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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TCS ranked Top Employer for second consecutive year
Mar 08,2017

Tata Consultancy Services has been recognised as one of the worlds top employers by the Top Employer Institute for the second year running. TCS was certified by the independent body from amongst more than 1,200 companies in 116 countries around the world.

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Bharat Petroleum Corporation raises Rs 550 crore
Mar 08,2017

Bharat Petroleum Corporation has raised Rs. 550 crore through private placement of secured non-convertible debentures at a coupon of 7.35% p.a. payable semi-annually with a door to door maturity of 5 years on 07 March 2017. The proceeds will be utilized for funding of Capital Expenditure of the Company, including recoupment of expenditure already incurred.

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Volumes jump at Warren Tea counter
Mar 08,2017

Warren Tea clocked volume of 22.96 lakh shares by 12:55 IST on BSE, a 753.63-times surge over two-week average daily volume of 3,000 shares. The stock was unchanged at Rs 141.

James Warren Tea notched up volume of 22.78 lakh shares, a 744.09-fold surge over two-week average daily volume of 3,000 shares. The stock jumped 10.01% at Rs 156.

Kotak Mahindra Bank saw volume of 2.77 crore shares, a 197.19-fold surge over two-week average daily volume of 1.41 lakh shares. The stock rose 0.73% at Rs 823.25 after a large bulk deal of 2.77 crore shares was executed on the scrip at Rs 827 per share in opening trade on BSE.

Aarti Industries clocked volume of 4.2 lakh shares, a 137.81-fold surge over two-week average daily volume of 3,000 shares. The stock jumped 4.99% at Rs 782.30.

AIA Engineering saw volume of 96,000 shares, a 42.43-fold rise over two-week average daily volume of 2,000 shares. The stock rose 0.03% at Rs 1,479.

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Chemiesynth (Vapi) to hold board meeting
Mar 08,2017

Chemiesynth (Vapi) will hold a meeting of the Board of Directors of the Company on 11 March 2017, to appoint CS Nitin Sarfare, Partner of M/s. HS Associates to conduct audit of secretarial records pursuant to Section 204 of the Companies Act, 2013. (for FY 2016-17) and to discuss requests received from shareholders of the company for issue of duplicate share certificates in lieu of lost/misplaced share certificates.

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Mega Nirman & Industries to hold board meeting
Mar 08,2017

Mega Nirman & Industries will hold a meeting of the Board of Directors of the Company on 15 March 2017.

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ETT to hold board meeting
Mar 08,2017

ETT will hold a meeting of the Board of Directors of the Company on 14 March 2017 to consider and approve the redemption of 6% non-cumulative non-participating redeemable preference shares of the Company (non-listed securities).

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Jaiprakash Power gains after reports Brookfield plans to acquire three power plants
Mar 08,2017

Meanwhile, the S&P BSE Sensex was down 171.20 points or 0.58% at 28,830.17.

On the BSE, 9.82 lakh shares of Jaiprakash Power Ventures exchanged hands so far compared with average daily volume of 18.77 lakh shares in the past one quarter. The stock had hit a high of Rs 6.05 and a low of Rs 5.80 so far during the day. The stock had hit a 52-week high of Rs 6.96 on 26 July 2016. The stock had hit a record low of Rs 3.60 on 16 December 2016.

The stock had underperformed the market over the past one month till 7 March 2017, falling 4.64% compared with 2.34% gains in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 40.24% as against Sensexs 10.53% gains.

The mid-cap company has equity capital of Rs 5996 crore. Face value per share is Rs 10.

Reports suggested that the discussions are in initial stages and there is no certainty that a transaction will take place. A deal, if it happens, could close at an equity value of Rs 4500-5000 crore, report added.

The transaction will mark Brookfields first investment in Indias power sector. Jaiprakash Power Ventures major lenders such as ICICI Bank, IDBI Bank and Punjab National Bank took control after the firm failed to repay loans on time.

On 20 February 2017, Jaiprakash Power Ventures allotted 305.8 crore shares to its 23 lenders as part of a debt restructuring scheme. Subsequent to the allotment of the shares, the lenders would collectively hold 51% of the post issue equity share capital and the outstanding loan amount of the company would stand reduced by Rs 3058 crore. The company as well as its subsidiaries shall cease to be subsidiaries of Jaiprakash Associates.

The Jaypee group has been trying to sell assets, including core ones, in the past two years after intense pressure from lenders. In July last year, the group sold its cement business to Aditya Birla Group firm UltraTech Cements for Rs 19500 crore. JPs power portfolio of 4,000 megawatts includes one hydro power plant and two thermal units.

Toronto-based Brookfield is the worlds second-biggest manager of alternative assets such as real estate and private equity.

Jaiprakash Power Ventures reported net loss of Rs 172.96 crore in Q3 December 2016 compared with net loss of Rs 115.81 crore in Q3 December 2015. Net sales fell 16.2% to Rs 693.10 crore in Q3 December 2016 over Q3 December 2015.

Jaiprakash Power Ventures is a power company and a part of Infrastructure conglomerate - Jaypee Group. The company plans, develops, implements and operates power projects in India.

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Bank of India to hold EGM
Mar 08,2017

Bank of India announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 30 March 2017 .

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Wockhardt drops as HPRA inspects Aurangabad facility
Mar 08,2017

The announcement was made after market hours yesterday, 7 March 2017.

Meanwhile, the S&P BSE Sensex was down 152.67 points, or 0.53%, to 28,846.89

On the BSE, 2.07 lakh shares were traded on the counter so far as against the average daily volumes of 2.21 lakh shares in the past one quarter. The stock had hit a high of Rs 736 and a low of Rs 711.10 so far during the day.

The stock had hit a 52-week high of Rs 1,129 on 21 July 2016 and a 52-week low of Rs 627 on 27 December 2016. The stock had outperformed the market over the past one month till 7 March 2017, advancing 3.15% compared with the Sensexs 1.97% rise. The scrip, however, underperformed the market over the past one quarter, gaining 7.48% as against the Sensexs 10.53% rise.

The mid-cap company has equity capital of Rs 55.27 crore. Face value per share is Rs 5.

Wockhardt said that the Health Products Regulatory Authority of Ireland (HPRA) has inspected its Shendra, Aurangabad facility and has recommended the renewal of certificate based on the general compliance with the principles and guidelines of Good Manufacturing Practice of Shendra manufacturing unit.

Wockhardt reported consolidated net loss of Rs 53.91 crore in Q3 December 2016, as compared to net profit of Rs 72.04 crore in Q3 December 2015. Net sales fell 7.3% to Rs 995.56 crore in Q3 December 2016 over Q3 December 2015.

Wockhardt is a research based and technology intensive global pharmaceutical and biotechnology company.

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Last date of submission of Digital Life Certificate through Jeevan Pramaan Patra extended upto 31st March 2017
Mar 08,2017

Noticing that many pensioners are yet to submit Aadhaar authenticated Jeevan Pramaan as life certificate for continuation of drawal of pension, the EPFO has further extended the last date of submission of Digital Life Certificate through Jeevan Pramaan Patra upto 31st March 2017. Earlier the last date was 28th February 2017.

Members and pensioners of the Employees Pension Scheme, 1995 are required to furnish Aadhaar number by 31st March 2017. In case a member has not been allotted Aadhaar Number, a copy of Aadhaar Enrolment ID slip is required to be attached for settlement of claim under EPS, 1995, namely for pension processing and monthly pension payments. Aadhaar number however is not required in case a member of pension scheme having less than 10 years of service chooses to withdraw by making an application in Form 10-C.

An Employee Enrolment Campaign-2017, started by EPFO on January 1st 2017 to cover left out workers, continues upto 31st March 2017. Under the scheme:-

n++ The employees share of contributions if not deducted by the employer is waived.

n++ Nominal damages to be paid by the employer, in respect of the employees for whom declaration has been made under this campaign, is at the rate of Rupee One per annum.

n++ Administrative charges have been waived.

Even though the EPF & MP Act, 1952 does not differentiate between casual, contractual and regular employees, it was noted that a large number of contractual employees hired by principal employer including those by the government departments, PSU and autonomous Organizations have remained out of coverage under EPFO. It is the duty of the principal employer to ensure compliance of their outsourced / regular / contract / casual / daily wager to the schemes under EPF Act.

To ensure coverage of workers, principal employers have been advised to ensure that their contractors are registered with EPFO before award of any contract or making any payments. EPFO provides relevant information in this regard to principal employers online.

A health care scheme called ECHS was formulated by Ministry of Defence for its ex-servicemen. The contractual workers of ECHS till now were deprived of the social security benefits under EPFO. The ECHS now has been brought under the ambit of the EPF Act. Ministry of Defence has issued necessary directions to the ECHS for enrolling their contractual staff. Similarly, all eligible workers engaged by contractors working with Military Engineering Services (MES) and Indian Railways have also being requested to ensure coverage of contractual employees under EPFO.

Towards continuous strive to bring increased conveniences and efficiency, a single page Composite Claim Form (Aadhar) replaces Forms No. 19 (UAN), 10C (UAN) & 31(UAN) for subscribers seeding their Aadhar number with UAN. This can be submitted without the attestation of employers. For subscribers who are yet to seed Aadhaar and Bank details with their UAN, a new Composite Claim Form (Non-Aadhar) replaces the existing Forms No. 19, 10C & 31.

In addition, a Composite Claim Form in death cases replaces the existing Forms No, 20, 5-IF and 10-D. The claimants can apply for claim of Provident Fund, Insurance Fund and monthly pension through this single page composite claim form in case of death of a member.

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Delta Corp drops on profit booking
Mar 08,2017

Meanwhile, the S&P BSE Sensex was down 162.24 points, 0.56% to Rs 28,837.32.

A jump in share price was accompanied by higher than usual volumes on the counter. On the BSE, 14.79 lakh shares were traded on the counter so far as against the average daily volumes of 6.93 lakh shares in the past one quarter. The stock had hit a high of Rs 177.30 so far and a low of Rs 166.80 so far during the day.

The stock had hit a record high 195.20 on 26 October 2016 and a 52-week low of Rs 60.40 on 16 March 2016.

The mid-cap company has equity capital of Rs 23.16 crore. Face value per share is Re 1.

Shares of Delta Corp had rallied 14.53% in the preceding three trading sessions to settle at Rs 171.05 yesterday, 7 March 2017, from its closing of Rs 149.35 on 2 March 2017.

Delta Corps consolidated net profit rose 37.2% to Rs 10.06 crore on 4.5% increase in net sales to Rs 103.57 crore in Q3 December 2016 over Q3 December 2012.

Delta Corp holds three offshore gaming licences in Goa and has an integrated casino resort in Daman. The company also has three luxury hotel properties in Goa n++ Deltin Suites, Deltin Palms and Villa Marina by Deltin.

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MTNL gains on reports of revival of merger talks with BSNL
Mar 08,2017

Meanwhile, the BSE Sensex was down 142.32 points, or 0.49%, to 28,857.24.

More than usual volumes were witnessed on the counter. On the BSE, 11.08 lakh shares were traded in the counter so far, compared with an average daily volume of 6.75 lakh shares in the past one quarter. The stock had hit a high of Rs 24.25 and a low of Rs 23.30 so far during the day. The stock had hit a 52-week high of Rs 25.70 on 8 February 2017. The stock had hit a 52-week low of Rs 15 on 22 November 2016.

The stock had underperformed the market over the past one month till 7 March 2017, falling 9.66% compared with 2.34% gains in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 24.38% as against Sensexs 10.53% gains.

The small-cap company has an equity capital of Rs 630 crore. Face value per share is Rs 10.

According to reports, top officials at the telecom department are once again brainstorming on various options before the two loss-making, state-owned entities, namely, MTNL and BSNL. A top-level meeting recently discussed the possibility of merging both the entities that are facing financial stress due to increasing competition in the sector, report added.

In the first phase, BSNL is keen on picking up mobile operations of MTNL in Gurgaon, Noida and Faridabad, where it is already offering landline and broadband services. The other option could be the acquisition of MTNLs mobile operations in Delhi and Mumbai - the two metros it operates in. BSNL, on the other hand, operates in rest of India, report said.

The idea of merging the two firms was first mooted years ago by the then telecom minister Pramod Majahan and has been deliberated upon a few times since then.

MTNL reported net loss of Rs 819.96 crore in Q3 December 2016 compared with net loss of Rs 671.59 crore in Q3 December 2015. Net sales fell 8.7% to Rs 686.76 crore in Q3 December 2016 over Q3 December 2015.

State-run MTNL provides fixed-line telecommunication service in the two metropolitan cities of Delhi and Mumbai. The company also provides 3G mobile services and internet services in these two cities.

The Government of India currently holds 56.25% stake in MTNL (as per the shareholding pattern as on 30 December 2016).

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Board of Cadila Healthcare recommends dividend
Mar 08,2017

Cadila Healthcare announced that the Board of Directors of the Company at its meeting held on 7 March 2017, inter alia, have recommended the dividend of Rs 3.2 per equity Share (i.e. 320%) , subject to the approval of the shareholders.

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Mercury Metals to hold board meeting
Mar 08,2017

Mercury Metals will hold a meeting of the Board of Directors of the Company on 14 March 2017, to consider and approve the appointment of Mr. Radheshyam Laluram Kabra (DIN: 00005997) as an additional Director of the Company.

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Beardsell to hold board meeting
Mar 08,2017

Beardsell will hold a meeting of the Board of Directors of the Company on 13 March 2017, to consider declaration of Interim Dividend for the year 2016-2017

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