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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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Board of Motherson Sumi Systems recommends bonus issue
May 19,2017

The Board of Directors of Motherson Sumi Systems at its meeting held on 19 May 2017 have recommended the issue of Bonus Shares in the ratio of 1 (one) Bonus Shares against the 2 (two) existing shares subject to the approval of the shareholders. Further that Board also recommended a Dividend of Rs. 2/- per equity share (face value of Re. 1/- each) for the financial year ended 31 March 2017 on the expanded share capital (including the proposed Bonus Shares), subject to the approval of the shareholders at Annual General Meeting.

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CESC jumps on bargain hunting
May 19,2017

Meanwhile, the S&P BSE Sensex was up 54.09 points, or 0.18% to 30,488.88.

On the BSE, 4.27 lakh shares were traded in the counter so far, compared with average daily volumes of 51,624 shares in the past one quarter. The stock had hit a high of Rs 885 and a low of Rs 850 so far during the day. The stock hit a record high of Rs 1,001.85 on 16 May 2017. The stock hit a 52-week low of Rs 531.35 on 2 June 2016.

The stock had underperformed the market over the past one month till 18 May 2017, falling 6.96% compared with 3.74% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 3.49% as against Sensexs 6.91% rise.

The large-cap company has equity capital of Rs 132.56 crore. Face value per share is Rs 10.

Shares of CESC fell 15.68% in three trading sessions to settle at Rs 829.80 yesterday, 18 May 2017, from its close of Rs 984.15 on 15 May 2017.

The stock slumped 15.10% in a single trading session to settle at Rs 829.80 yesterday, 18 May 2017, after the company announced its restructuring plan. The announcement was made during trading hours yesterday, 18 May 2017.

The restructuring scheme includes amalgamation of CESC Infrastructure, Spencers Retail and Music World Retail with CESC; demerger of power generation undertaking to Haldia Energy; demerger of retail undertaking I (as defined in the scheme) of the company and retail undertaking 2 (as defined in the scheme) of Spencers Retail to RP-SG Retail. Further, the scheme includes demerger of IT undertaking of the company to RP-SG Business Process Services.

As per the scheme, Spen Liq will be amalgamated with RP-SG Business Process Services and New Rising Promoters will be amalgamated with Crescent Power.

The scheme includes reduction and cancellation of the existing share capital of Haldia Energy, RP-SG Retail and RP-SG Business Process Services. Further, it includes reduction of the face value of the equity share of CESC from Rs 10 per share to Rs 5 per share and subsequent consolidation of two equity shares of the company of Rs 5 each into one equity share of Rs 10 each.

The equity shares of Haldia Energy, RP-SG Retail and RP-SG Business Process Services will be listed on Calcutta Stock Exchange, BSE, and National Stock Exchange of India, post effectiveness of the scheme. The shareholders of the company will get shares in these listed companies in the same proportion as their holding in the company.

Post restructuring, in addition to the IT undertaking, the RP-SG Business Process Services will house various other ventures of the group, inter alia, property, entertainment and fast moving consumer goods business. As part of this alignment investments in/by Guiltfree Industries and Apricot Foods will also be held by RP-SG Business Process Services.

Meanwhile, the company announced its Q4 March 2017 results during trading hours yesterday, 18 May 2017. CESCs net profit rose 0.7% to Rs 295 crore on 6.7% increase in net sales to Rs 1572 crore in Q4 March 2017 over Q4 March 2016.

CESC is a fully-integrated electrical utility company. The companys other business segments include power, organized retailing, property development and business process outsourcing.

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GMDC leads gainers on BSEs A group
May 19,2017

Gujarat Mineral Development Corporation (GMDC) rose 5.20% at Rs 133.60. The stock topped the gainers in A group. On the BSE, 8.23 lakh shares were traded on the counter so far as against the average daily volumes of 2.73 lakh shares in the past two weeks.

CESC rose 4.71% at Rs 868.85. The stock was the second biggest gainer in A group. On the BSE, 4.05 lakh shares were traded on the counter so far as against the average daily volumes of 96,000 shares in the past two weeks.

ITC rose 4.32% at Rs 290.05. The stock was the third biggest gainer in A group. On the BSE, 16.15 lakh shares were traded on the counter so far as against the average daily volumes of 5.86 lakh shares in the past two weeks.

Colgate-Palmolive (India) rose 3.90% at Rs 1,017.55. The stock was the fourth biggest gainer in A group. On the BSE, 64,000 shares were traded on the counter so far as against the average daily volumes of 24,000 shares in the past two weeks.

Suzlon Energy rose 3.25% at Rs 20.65. The stock was the fifth biggest gainer in A group. On the BSE, 1.06 crore shares were traded on the counter so far as against the average daily volumes of 77.50 lakh shares in the past two weeks.

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HUDCO makes a strong debut
May 19,2017

The stock debuted at Rs 73.45, a premium of 22.42% to the initial public offer (IPO) price. So far the stock hit a high of Rs 77.80 and low of Rs 70.55. On BSE, so far 2.06 crore shares were traded on the counter.

Housing and Urban Development Corporation (HUDCO) had priced the initial public offer (IPO) at the top end of the Rs 56 to Rs 60 per share price band for the IPO. The IPO closed on 11 May 2016. It received bids for 1622.93 crore shares. The IPO was subscribed 79.53 times. The qualified institutional buyers (QIBs) category was subscribed 55.45 times. The non institutional investors category was subscribed 330.36 times. The retail individual investors (RIIs) category was subscribed 10.79 times.

HUDCOs IPO comprised of offer for sale (OFS) of up to 20.41 crore equity shares by the promoter, the Government of India (GoI). The entire proceeds from the OFS will be paid to GoI. Post-IPO, the promoters stake reduced to 89.8% from 100%.

HUDCOs net profit stood at Rs 496.29 crore on revenue from operations of Rs 2613.02 crore in nine months ended 31 December 2016.

HUDCO is a wholly owned public sector undertaking (PSU) company, providing loans for housing and urban infrastructure projects in India. The company is conferred with the status of Miniratna (Category-I Public Sector Enterprise) having more than 46 years of experience. The company has a pan-India presence with 21 regional offices and 11 development offices.

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ITC scales record high
May 19,2017

Meanwhile, the S&P BSE Sensex was up 181.65 points, or 0.60% to 30,616.44.

On the BSE, 14.22 lakh shares were traded on the counter so far as against the average daily volumes of 11.74 lakh shares in the past one quarter. The stock had hit a high of Rs 295.50 in intraday trade, which is also a record high. The stock had hit a low of Rs 280.35 so far during the day.

The stock had hit a 52-week low of Rs 215.40 on 19 May 2016. The stock had underperformed the market over the past one month till 18 May 2017, falling 0.32% compared with the 3.81% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 3.65% as against Sensexs 6.91% gains.

The large-cap company has equity capital of Rs 1214.74 crore. Face value per share is Re 1.

Shares of FMCG companies have been cheering on the bourses as the Goods & Services Tax (GST) council has reportedly announced the tax rates for the various items yesterday, 18 May 2017. As per the GST tax rates announced, the impact is very positive for the FMCG companies and signals that the mass consumption items will be taxed lower.

The FMCG companies would witness the huge boost in its consumption since they now need to pay the lower taxes.

Setting the stage for rollout of GST from 1 July, the Centre and states reportedly yesterday, 18 May 2017 decided on rates for specific products which may lead to lower prices for a majority of products of mass consumption.

The idea is to ensure that the impact of GST is not inflationary. Rates on 1,211 items were finalised by the GST council with 81% facing a levy of up to 18%.

There are certain issues which are expected to be thrashed out today, 19 May 2017, when GST Council is also expected to finalise the rates for services. The council will decide on the levy for gold, biscuits, packaged and branded cereals, footwear, bidis and textiles.

The GST tax reform will subsume central and state levies such as excise duty, additional duties of customs, service tax, value added tax, central sales tax, entry tax, octroi and luxury tax and is expected to clean up the messy indirect tax structure.

ITCs net profit rose 5.7% to Rs 2646.73 crore on 4.1% increase in net sales to Rs 9149.31 crore in Q3 December 2016 over Q3 December 2015.

ITC is a diversified company, with presence in cigarettes, hotels, paperboards & specialty papers, packaging, agri-business, packaged foods & confectionery, information technology, branded apparel, personal care, stationery and other FMCG products. ITC is a market leader in cigarettes.

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Arunjyoti Bio Ventures to hold board meeting
May 19,2017

Arunjyoti Bio Ventures will hold a meeting of the Board of Directors of the Company on 30 May 2017, for consideration of audited financial results for the quarter and year ended 31 March 2017.

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Kanchi Karpooram to hold board meeting
May 19,2017

Kanchi Karpooram will hold a meeting of the Board of Directors of the Company on 24 May 2017, to consider and take on record the Audited Financial Results of the Company for the Quarter/Year Ended 31st March 2017.

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Goldstone Technologies to hold board meeting
May 19,2017

Goldstone Technologies will hold a meeting of the Board of Directors of the Company on 25 May 2017, to consider and approve the Audited Financial Results for the Quarter and year ended 31st March,2017.

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Premier Energy & Infrastructure to hold board meeting
May 19,2017

Premier Energy & Infrastructure will hold a meeting of the Board of Directors of the Company on 30 May 2017, to interalia consider and approve the Audited Financial Results for the Quarter and Financial Year ended 31st March, 2017.

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Delta Industrial Resources to hold board meeting
May 19,2017

Delta Industrial Resources will hold a meeting of the Board of Directors of the Company on 25 May 2017, to consider and approve the Audited Standalone Financial Results of the Company for the Quarter and year ended March 31, 2017..

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GK Consultants to hold board meeting
May 19,2017

GK Consultants will hold a meeting of the Board of Directors of the Company on 26 May 2017, to approve and take on record the Audited Financial Results for the Fourth Quarter and Financial Results for the financial year ended 31 March 2017.

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Amrapali Capital & Finance Services to hold board meeting
May 19,2017

Amrapali Capital & Finance Services will hold a meeting of the Board of Directors of the Company on 25 May 2017, for consideration and Approval of Financial results for the quarter and year ended on 31st March,2017 along with Audit report.

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Baron Infotech to hold board meeting
May 19,2017

Baron Infotech will hold a meeting of the Board of Directors of the Company on 28 May 2017, to consider and take on record the Audited Financial Results for the quarter and financial year ended 31st March, 2017.

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Sastasundar Ventures to hold board meeting
May 19,2017

Sastasundar Ventures will hold a meeting of the Board of Directors of the Company on 26 May 2017, to consider and approve the Audited Standalone and Consolidated Financial Results of the Company for the quarter and financial year ended 31st March, 2017.

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Texmo Pipes & Products to hold board meeting
May 19,2017

Texmo Pipes & Products will hold a meeting of the Board of Directors of the Company on 26 May 2017, to consider and take on record the Audited Financial Results for the quarter and year ended on 31st March, 2017.

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