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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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Valson Industries receives sanction for credit facilities
Feb 14,2017

Valson Industries announced that the Company has received sanctioned letter from Kotak Mahindra Bank sanctioning the credit facilities (Fund base & Non Fund Base) of Rs. 11.25 crore which includes the facilities take over from Bank of India and ICICI Bank.

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AARV Infratel shifts registered office
Feb 14,2017

AARV Infratel announced that registered office of the Company has been shifted from 46-11-29/1, Danavaipeta, Opp: Rajahmundry Hospital, Rajahmundry - 533 103, Andhra Pradesh, India to Plot No.78, Sai Durga Enclave, Agrahara Village Kogilu, Yelahanaka, Bangalore, Karnataka, 560064, India with effect from 16 January 2017.

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Iris Mediaworks announces change in directorate
Feb 14,2017

Iris Mediaworks announced about the following:

1. Cessation of Mayank Kotadia from the Post of Non- Executive Directorship.

2. Appointment of Mitesh J. Jaani as Additional Non- Executive Director of the Company.

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V I P Industries to pay interim dividend
Feb 14,2017

V I P Industries announced that interim dividend for FY 2016-17 will be paid on or after 01 March 2017.

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Rural Electrification Corporation fixes record date for interim dividend
Feb 14,2017

Rural Electrification Corporation announced that the Company has fixed 28 February 2017 as the Record Date for the purpose of Payment of Interim Dividend. The said Interim Dividend will be paid/dispatched on 06 March 2017.

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Board of Advanced Enzyme Technologies approves sub-division of equity shares
Feb 14,2017

Advanced Enzyme Technologies announced that the Board of Directors of the Company at its meeting held on 14 February 2017, (commenced at 11.00 A.M. and concluded at 1.00 P.M.) inter alia, has approved the following:

1. Prabal Bordiya, existing Company Secretary and Compliance Officer has been deputed as Company Secretary of JC Biotech, a Subsidiary Company with effect from 13 February 2017. In his place Sanjay Basantani is appointment as Company Secretary & Head Legal and Compliance Officer of the Company with effect from 14 February 2017.

2. Subject to approval of the shareholders of the Company and other statutory / regulatory approvals: (a) Sub-Division of face value of share capital of the Company from existing Rs. 10 (Rupees Ten) per share to Rs. 2 (Rupees Two) per share and consequent alteration in capital clause of Memorandum of Association of the Company.

3. Proposal to obtain approval of shareholders of the Company through Postal Ballot for (a) the business matters as mentioned in point (2) above; and (b) grant of stock options under the existing Employees Stock Option Scheme 2015 to the employees of subsidiaries of the Company.

4. Employees Stock Option Scheme (ESOP) Scheme through Trust Route - The Board of Directors decided to defer this business item.

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In India, the CLI points to easing growth momentum
Feb 14,2017

Growth is anticipated to pick-up in the United States, Canada, Japan as well as Germany and France, says Composite leading indicators (CLIs) by OECD. In the United Kingdom, there are tentative signs of growth gaining momentum, although the CLI remains below trend and uncertainty persists about the nature of the agreement the UK will eventually conclude with the EU.

In the OECD area as a whole, as well as the in the euro area and in Italy, the CLIs indicate stable growth momentum.

Amongst major emerging economies, growth is expected to gain momentum in China, Brazil and Russia. In India, the CLI points to easing growth momentum.

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Prestige Estates Projects slips after weak Q3 results
Feb 14,2017

The result was announced after market hours yesterday, 13 February 2017.

Meanwhile, the BSE Sensex was flat at 28,352.37.

On the BSE, so far 7,338 shares were traded in the counter, compared with average daily volumes of 14,136 shares in the past one quarter. The stock had hit a high of Rs 173.60 and a low of Rs 167.30 so far during the day.

The stock hit a 52-week high of Rs 224 on 23 September 2016. The stock hit a 52-week low of Rs 129.85 on 17 March 2016. The stock had underperformed the market over the past 30 days till 13 February 2017, rising 1.54% compared with the 4.09% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 11.45% as against Sensexs 7.78% rise.

The mid-cap company has equity capital of Rs 375 crore. Face value per share is Rs 10.

Prestige Estates is one of South Indias leading real estate developers.

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Mobile broadband penetration at 95% in OECD area
Feb 14,2017

High-speed Internet use continues to grow in OECD countries with mobile broadband penetration reaching 95 subscriptions per 100 inhabitants in June 2016, up from 86 per 100 a year earlier, according to data released by the OECD.

The addition of 123 million new mobile broadband subscriptions in the 35-country OECD area made a year-on-year rise of 11.3%, driven by continued growth in the use of smartphone and tablets, and lifted the OECD total to 1.214 billion subscriptions in a population of 1.27 billion people.

Twelve countries - Japan, Finland, Sweden, Denmark, the US, Estonia, Australia, Korea, Norway, Iceland, New Zealand and Switzerland, in descending order of mobile subscriptions per capita - now lie above the 100% penetration threshold, up from nine countries a year ago.

Fixed-line broadband subscriptions in the 35-country OECD area reached 380 million as of June 2016, up from 363 million a year earlier and making an average penetration of 29.8%, up from 28.6%. Switzerland leads the pack with a penetration rate of 51 subscriptions per 100, followed by Denmark (43%), the Netherlands (42%), France (41%) and Korea (40%).

DSL remains the prevalent technology, making up 44.7% of fixed broadband subscriptions, but it continues to be gradually replaced by fibre, now accounting for 20.1% of subscriptions thanks to a 16% jump in fibre subscriptions since June 2015. Cable (32.2%) made up most of the rest.

Data on machine-to-machine communications, such as for Internet-connected vehicles, show that Sweden, New Zealand, Norway, Finland and the Netherlands remain the leaders in the number of M2M SIM cards in use, with the caveat that data is not yet fully comparable for all countries. Sweden counts 77 M2M SIM cards per 100 inhabitants - a much higher level than for most other OECD countries that provided data. Overall, M2M/embedded mobile cellular subscriptions grew by almost 20% in the last year in countries were the data was available

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Volumes jump at HealthCare Global Enterprises counter
Feb 14,2017

HealthCare Global Enterprises clocked volume of 2.51 lakh shares by 13:00 IST on BSE, a 39.94-times surge over two-week average daily volume of 6,000 shares. The stock fell 0.23% to Rs 243.

Future Lifestyle Fashions notched up volume of 4.20 lakh shares, a 29.30-fold surge over two-week average daily volume of 14,000 shares. The stock rose 1.80% to Rs 198.

Procter & Gamble Hygiene & Health Care saw volume of 20,000 shares, a 19.60-fold surge over two-week average daily volume of 1,000 shares. The stock rose 0.04% to Rs 7,010.

Pressman Advertising clocked volume of 13.91 lakh shares, a 18.38-fold surge over two-week average daily volume of 76,000 shares. The stock rose 4.44% to Rs 65.85.

NCL Industries saw volume of 3.77 lakh shares, a 9.50-fold rise over two-week average daily volume of 40,000 shares. The stock rose 16.26% to Rs 154.45.

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Board of N g Industries appoints company secretary and compliance officer
Feb 14,2017

N G Industries announced that the Board of Directors of the Company at its meeting held on 14 February 2017 has appointed Dipak Shaw as Company Secretary and Compliance Officer with immediate effect.

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Loyal Equipments secures order worth Rs 1.46 crore
Feb 14,2017

Loyal Equipments has received an order from Burckhardt Compression Holding AG, Switzerland (through its Indian company n++Burckhardt Compression (India)) of worth Rs. 1.46 crore for supply of Process Skid Package & Pressure Vessels for Bharat Oman Refinery (BORL) under consultant of Engineers India (EIL).

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Silverpoint Infratech to hold EGM
Feb 14,2017

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

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Bella Casa Fashion & Retail to hold board meeting
Feb 14,2017

Bella Casa Fashion & Retail will hold a meeting of the Board of Directors of the Company on 20 February 2017, to consider and, if required, recommend to General Meeting regarding the issue of Equity shares on preferential basis.To authorise the Company Secretary to issue notice of Extra-Ordinary General Meeting to the Shareholders and making arrangement for voting facility for shareholders.

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WPI inflation jumps to 30-month high of 5.25% in January 2017
Feb 14,2017

The Wholesale Price Index (WPI)-based inflation accelerated further to 30-month high of 5.3% in January 2017 from 3.4% in December 2016. An increase in WPI inflation was mainly driven by higher inflation for fuel and power group, while inflation for primary articles and manufactured products group also moved up in January 2017.

Inflation of primary articles rose to 1.3% in January 2017 from 0.3% in December 2016. The inflation for manufactured products moved up to 4.0% in January 2017. The inflation for fuel items zoomed to 18.1% in January 2017 from 8.7% in December 2016.

As per major commodity group-wise, inflation rose for fruits, vegetables, milk, fish, poultry chicken, spices, fibres, oilseeds, flowers, metallic minerals, crude petroleum, coal, mineral oils, electricity, grain mill products, edible oils, textiles, chemical products and basic metals in January 2017. On the other hand, inflation of foodgrains, sugarcane, sugar, oilcakes, wood products, leather products, non-metallic mineral products, and transport equipment declined in January 2017.

Inflation of food items (food articles and food products) was flat at 2.8% in January 2017 from December 2016 level. Meanwhile, inflation of non-food items (all commodities excluding food items) moved up to 6.4% in January 2017 from 3.7% in December 2016.

Core inflation (manufactured products excluding foods products) accelerated to 2.7% in January 2017 from 2.1% in December 2016.

The contribution of primary articles to the overall inflation, at 5.25%, was 37 basis points (bps) in January 2017 compared with 08 bps in December 2016. The contribution of manufactured products was 226 bps compared with 206 bps, while that of fuel product group was 263 bps against 129 bps in December 2016.

The contribution of food items (food articles and food products) to inflation fell to 89 bps in 5.25% in January 2017 compared with 91 bps to 3.43% in December 2016. Meanwhile, the contribution of non-food items (all commodities excluding food items) was 436 bps in January 2017 compared with 250 bps in December 2016.

As per the revised data, the inflation figure for November 2016 was revised up to 3.4% compared with 3.2% reported provisionally.

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