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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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Picturehouse Media Director resigns
Mar 06,2017

Picturehouse Media announced the resignation of P Sai Padma from the post of Director of the Company with effect from 06 March 2017.

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City Union Bank opens three new branches
Mar 06,2017

City Union Bank has opened three new branches at Kengeri, Nalgonda and Omalur on 06 March 2017.

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Board of TVS Motor Company recommends dividend
Mar 06,2017

TVS Motor Company announced that the Board of Directors of the Company at its meeting held on 6 March 2017, inter alia, have recommended the dividend of Rs 1.25 per equity Share (i.e. 125%) , subject to the approval of the shareholders.

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Board of Emami recommends dividend
Mar 06,2017

Emami announced that the Board of Directors of the Company at its meeting held on 6 March 2017, inter alia, have recommended the dividend of Rs 1.75 per equity Share (i.e. 175%) , subject to the approval of the shareholders.

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Net 4 India to hold board meeting
Mar 06,2017

Net 4 India will hold a meeting of the Board of Directors of the Company on 14 March 2017.

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Super Crop Safe to hold board meeting
Mar 06,2017

Super Crop Safe will hold a meeting of the Board of Directors of the Company on 15 March 2017, to Appoint Secretarial Auditor of the Company for the year 2016-17.

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Supreme Infrastructure India to hold EGM
Mar 06,2017

Supreme Infrastructure India announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 27 March 2017 .

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Welspun Corp leads gainers in A group
Mar 06,2017

Welspun Corp jumped 5.02% to Rs 87.80 at 14:49 IST. The stock topped the gainers in the BSEs A group. On the BSE, 2.73 lakh shares were traded on the counter so far as against the average daily volumes of 1.74 lakh shares in the past two weeks.

Ashok Leyland surged 3.78% to Rs 90.60. The stock was the second biggest gainer in A group. On the BSE, 9.34 lakh shares were traded on the counter so far as against the average daily volumes of 8.24 lakh shares in the past two weeks.

Reliance Industries gained 3.62% at Rs 1,303.95. The stock was the third biggest gainer in A group. On the BSE, 9.81 lakh shares were traded on the counter so far as against the average daily volumes of 11.59 lakh shares in the past two weeks.

Adani Power advanced 3.51% at Rs 38.35. The stock was the fourth biggest gainer in A group. On the BSE, 5.14 lakh shares were traded on the counter so far as against the average daily volumes of 9.01 lakh shares in the past two weeks.

Housing Development and Infrastructure rose 3.44% to Rs 70.60. The stock was the fifth biggest gainer in A group. On the BSE, 10.30 lakh shares were traded on the counter so far as against the average daily volumes of 13.72 lakh shares in the past two weeks.

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PVR gains after opening 3 screen multiplex in Moradabad
Mar 06,2017

The announcement was made during market hours today, 6 March 2017.

Meanwhile, the S&P BSE Sensex was up 149.95 points, or 0.52%, to 28,982.40.

On the BSE, 10,856 shares were traded in the counter so far, compared with average daily volume of 11,038 shares in the past one quarter. The stock had hit a high of Rs 1,335.90 and a low of Rs 1,310 so far during the day. The stock had hit a record high of Rs 1,489.50 on 18 January 2017. The stock had hit a 52-week low of Rs 697.25 on 16 March 2016.

The stock had underperformed the market over the past one month till 3 March 2017, gaining 0.56% compared with the Sensexs 2.1% rise. The scrip had, however, outperformed the market over the past one quarter, gaining 19.06% as against the Sensexs 9.92% rise.

The mid-cap company has equity capital of Rs 46.74 crore. Face value per share is Rs 10.

PVR said that with the launch, PVR now operates the largest multiplex network with 572 screens at 124 properties in 49 cities pan India. PVR now has 11 properties and 55 screens in UP. The new property is situated across as area of 17,000 square feet with a total seating capacity of 631.

PVRs consolidated net profit fell 20.8% to Rs 23.89 crore on 7.1% rise in net sales to Rs 528.70 crore in Q3 December 2016 over Q3 December 2015.

PVR is the largest and the most premium film and retail entertainment company in India.

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PVR opens 3 screen multiplex at Moradabad, U.P.
Mar 06,2017

PVR is opening a 3 screen multiplex at Prasvnath Mall in Moradabad, Uttar Pradesh. With this launch, PVR now operates 572 screens at 124 properties in 49 cities across India.

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Around 63% women absenteeism due to health problems in metro cities: PHD Chamber Survey
Mar 06,2017

According to a recent survey study by PHD Research Bureau of PHD Chamber of commerce & Industry, a majority of women (70%) work for 8-10 hours in a day travel as large as 30 kilometres and travel for more than an hour to reach their workplace.

In spite of the long hours spent at work and the long travel distance, a positive trend in work satisfaction was seen. About 64% of the women participants stated that they were either completely satisfied or somewhat satisfied with their work, said the survey study.

Around 5000 working and non-working women were surveyed from the metropolitan cities such as Delhi, Mumbai, Bengaluru, Kolkata and Chennai by the Research Bureau of PHD Chamber during January-February 2017 through a structured questionnaire.

Interestingly, the majority of women (84%) reported that they devote 2-4 hours in household work and 49% said that they have domestic help to do household work.

However, little support was seen coming from family members in running household errands with women, reflecting on the fact that the sole responsibility of home management has been always been on the lady of the house.

The survey study is an endeavour to explore and strike a balance between work, life and health status of women in India. It explores the efforts made by the employer to provide a healthy work environment for their female employees.

FACT SHEET

n++63% of women reported absenteeism from work due to health issues

n++41% women reported cold, cough and fever as the main reason for missing work

n++Around 27% women reported aches and pains as the main health concern.

n++52% of women spend less than 10% of their income on health

n++58% women trust private healthcare facilities more than government or local clinics

n++37% women reported a provision of 3-6 months maternity leave

n++Only 27% women reported having a dispensary with lady doctor in their workplace

n++83% of women reported having separate working toilets for then at workplace

n++69% women also had the provision of paid sick leaves at workplace

n++84% women devoted 2-4 hours for household work

n++49% reported having a domestic help for household work

n++Only 2% women reported that they had facility of crn++che in their offices

n++Only 7% working women have work from home facility

Source: PHD research Bureau, PHD Chamber of Commerce and Industry The results of the analysis have been divided into three basic categories; Work Life Balance, Health Concerns, and Workplace Health Provisions. The findings elucidate that a majority 63% women reported missing work (absenteeism) due to health issues. As many as 41% of women have reported cold, cough and fever as the main health reason for missing work. An equally interesting trend is the high percent of aches and pains (27%) especially back pain and headache which has also been reported widely in the survey. An analysis of the percentage of income spent on own health showed that 52% of women spent less than 10% of their income on health, while only 5% spent more than 40%. About 2% of the respondents said that they have crn++che facilities in their offices. This is a major grey area where the employers can work to provide a conducive environment to their female employees. 7% of the respondents said that they have work from home facilities in their offices. It was also found that work from home facility was availed more by women after marriage or child birth or in case of illness of a family member. It was found that 58% women trusted private healthcare facilities more than government or local clinics.

It was revealed from the analysis that 69% of the women had a provision of paid sick leaves at their respective work places.

About 37% of women reported 3-6 months maternity benefits being given to them.

The infrastructural provision showed that 83% of womens workplace had separate toilets for them. However, only 27% of working women reported having a dispensary with a lady doctor in their workplace.

Shuttling between the various tasks at hand, women often overlook their health and continue to unconditionally manage both home and work simultaneously.

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Board of Hindustan Fluoro Carbons make note of proposal for divestment of Hindustan Organic Chemicals
Mar 06,2017

Hindustan Fluoro Carbons announced that the Board of Directors at its meeting held on 27 February 2017 has noted the following -

The proposal of strategic disinvestment of the Company through outright sale of Hindustan Organic Chemicals, holding company shares consisting of 11060000 equity shares of Rs 10 each aggregating to Rs 56.43%.

GoI called tenders for engagement of asset valuer, legal advisors and transaction advisor for disinvestment of the Company.

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Asian Oilfield Services drops on profit booking
Mar 06,2017

Meanwhile, the S&P BSE Sensex was up 140.86 points, or 0.49%, to 28,973.31

On the BSE, so far 1.22 lakh shares were traded in the counter, compared with average daily volumes of 1.55 lakh shares in the past one quarter. The stock hit a high of Rs 218.50 in intraday trade so far, which is 52-week high for the counter. The stock had hit a low of Rs 205.10 so far during the day. The stock hit a 52-week low of Rs 29.70 on 29 March 2016.

The stock had outperformed the market over the past 30 days till 3 March 2017, rising 57.8% compared with 2.15% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 104.4% as against Sensexs 9.92% rise.

The small-cap company has equity capital of Rs 22.32 crore. Face value per share is Rs 10.

On a consolidated basis, Asian Oilfield Services reported net loss of Rs 2.53 crore in Q3 December 2016, higher than net loss of Rs 20.05 crore in Q3 December 2015. Net sales rose 38.24% to Rs 16.63 crore in Q3 December 2016 over Q3 December 2015.

Asian Oilfield Services is engaged in providing geophysical, drilling and well services to customers across the Indian sub-continent.

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Emami fixes record date for interim dividend
Mar 06,2017

Emami has fixed 15 March 2017 as record date for payment of interim dividend.

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Metal stocks drop on weak China GDP growth target for 2017
Mar 06,2017

High Grade Copper for May 2017 delivery was down 1.04% at $2.6685 per pound on the COMEX.

Meanwhile, the S&P BSE Sensex was up 147.90 points or 0.51% at 28,980.35.

Bhushan Steel (down 1.21%), Jindal Steel & Power (down 0.55%), Vedanta (down 1.12%), Tata Steel (down 0.62%), NMDC (down 0.65%), Hindalco Industries (down 0.15%), Steel Authority of India (down 0.56%), JSW Steel (down 0.3%), Hindustan Zinc (down 1.1%) and National Aluminium Company (down 0.26%) edged lower.

The BSE Metal index had matched the market over the past one month till 3 March 2017, gaining 2.1% compared with the Sensexs 2.1% rise. The index had, however, outperformed the market over the past one quarter, gaining 16.98% as against the Sensexs 9.92% rise.

Meanwhile, disappointing economic news from China also weighed on metal sector stocks. China set its GDP growth target at around 6.5% for 2017, down from last years 6.7%, as the worlds second largest economy braced for further slowdown of its growth.

China is the worlds largest consumer of steel, copper and aluminum.

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