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Asia Pacific Market: Stocks end mixed
Apr 27,2017

Asia Pacific share market closed mixed on Thursday, 27 April 2017, as investors assessed the scant details of President Donald Trumps U.S. tax overhaul, though sentiment remains supported by global growth prospects, raft of earnings data and receding worries about political risks in Europe. The MSCI Asia Pacific Index was little changed at 149.31 as of 4:49 p.m. in Hong Kong, after rising 2.6% over the previous five sessions to the highest level since June 2015.

U.S. President Donald Trumps tax plan was presented at a White House briefing on Wednesday as a one-page list of bullet points amounting to fewer than 250 words, while leaving out many of the details. Officials said they hoped to slash corporate taxes to 15% from 35% for public corporations and 39.6% for small businesses, and on overseas corporate profits returned to the country. But the one-page plan offered no specifics on how it would be paid for without increasing the deficit.

The Bank of Japan at its Monetary Policy Board outcome on Thursday kept its monetary stimulus unchanged as widely expected on Thursday. The Board decided by an 7-2 majority vote to hold its target of raising the amount of outstanding JGB holdings at an annual pace of about JPY 80 trillion. The bank will purchase government bonds so that the yield of 10-year JGBs will remain at around zero percent. The board also decided to maintain the -0.1% interest rate on current accounts that financial institutions maintain at the bank. Annual inflation is likely to continue on an uptrend and increase toward 2%, mainly on the back of an improvement in the output gap and a rise in medium-to long-term inflation expectations.

The ECB is scheduled to hold a policy meeting on Thursday, with the focus on the potential for a scaling back of monetary stimulus in the months ahead. While no changes are expected, policymakers see scope for sending a small signal in June towards reducing monetary stimulus, according to sources, another factor underpinning the single currency.

Among Asian bourses

Australia Shares end higher

Australian equity market ended slight higher today, as gains in industrial, healthcare, financial and property trusts issues were more than offset by losses in energy, materials, and consumer goods stocks. The S&P/ASX200 closed 9.50 points, or 0.16%, up at 5921.50, while the All Ordinaries tracked closely behind, up 7.60 points, or 0.13%, to 5944.40. Falling stocks outnumbered advancing ones on the Australia Stock Exchange by 566 to 558 and 371 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 6.41% to 11.682.

Financials bolstered the Australian market, with the financial index hitting a fresh 23-month high, led by the Big Four banks ahead of earnings next week. Banks stocks outperforming other sectors on hopes of turning point in banks net interest margins and they should turn profitable going ahead.

The biggest drag on the index came from energy stocks - oil majors slipped on lower prices, while stocks such as Santos and Origin Energy, which have some LNG assets, fell after the Aussie government proposed to restrict exports of liquefied natural gas during times when domestic shortage (due to high exports) pushes up local LNG prices.

Diversified mining company BHP Billiton, Rio Tinto and Fortescue Metals slipped after the most-active iron ore on the Dalian Commodity Exchange slipped 1.2%. Lower London copper and oil prices also pressured BHP Billitons shares.

Gold stocks also rose after prices of the yellow metal edged away from two-week lows hit in the previous session. Ramelius Resources, Resolute Mining and Northern Star Resources rose as much as between 3% and 12%.

Japan Stocks fall on profit booking

The Japan share market finished down, as investors locked in profits following the markets four days run of closing highs. Selloff was also fuelled in response to yen appreciation against greenback after BoJ stands pat on policy and as the Trump administrations plans to overhaul the US tax system. The 225-issue Nikkei Stock Average declined 37.56 points, or 0.19%, to close the day at 19,251.87. The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, fell 0.74 point, or 0.05%, to finish at 1,536.67. Rising stocks outnumbered declining ones on the Tokyo Stock Exchange by 1943 to 1099 and 308 ended unchanged. The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was down 3.40% to 15.04 a new 1-month low.

The best performers of the session on the Nikkei 225 were Tokuyama Corp, which rose 8% to trade at Y541 at the close. Meanwhile, Showa Denko K.K added 4.4% to end at Y2160 and Furukawa Electric Co was up 4.2% to Y4510.The worst performers of the session were Yahoo Japan Corp, which fell 9.8% to trade at Y474.5 at the close. Rakuten Inc declined 4.4% to end at Y1139 and Osaka Gas Co was down 4.1% to Y416.

Shares in Japans Takata suspended after report on bankruptcy plan-- Trading in Takata Corp shares was suspended on Thursday after a report that the Japanese airbag maker at the heart of the car industrys biggest-ever recall is considering a bankruptcy plan that will create a new company and ringfence its liabilities. The Nikkei business daily reported Chinese-owned car parts maker Key Safety Systems (KSS), the companys preferred bidder, would sponsor the turnaround plan by injecting 200 billion yen ($1.8 billion) and helping create a new operating company. That money would be transferred to Takata to help settle claims linked to faulty air bags that have been blamed for at least 16 deaths worldwide. In a statement, Takata acknowledged that its steering committee had endorsed KSS as a sponsor candidate, but said it had not reached any decision on its restructuring.

Nintendo sees Switch console doubling full-year profit- Japans Nintendo Co said on Thursday it expects operating profit to jump 121% in the year through March 2018, bolstered by strong demand for its new Switch console. Nintendo estimates profit to grow to 65 billion yen ($583.85 million) from 29.4 billion yen a year prior. Kyoto-based Nintendo is aiming to sell 10 million Switch consoles in the current financial year, on top of 2.7 million units sold in March alone, the month of its global debut.

Stronger yen digs into Komatsus earnings-- Komatsu, the worlds second-largest construction and mining machinery maker, saw its annual earnings slide as a stronger yen erased gains from increasing demand in China and Indonesia. The 95-year-old company saw its revenue for the year ended March 31 fall 2.8% from the previous year to 1.80 trillion yen ($16.20 billion). Net profit was also down 17.5% to 113.4 billion yen in the April-March period compared to the year before.

The Bank of Japan on Thursday upgraded its outlook for the domestic economy, encouraged by strong exports. While it decided not to tweak monetary policy, the bank slightly lowered its inflation forecast. The BOJ now expects real gross domestic product growth for the current fiscal year through March 2018 to reach 1.6%, up from its previous forecast of 1.5%. For fiscal 2018 -- the year ending in March 2019 -- the bank forecasts 1.3% growth, up from 1.1%.

The central bank forecast growth in the worlds third-largest economy would remain steady over the next year as it keeps its ultra-lax monetary policy unchanged. The Bank of Japan said preparations for the Tokyo 2020 Olympics would support growth by spurring demand but warned of risks from geopolitical trends.

China Stocks end higher

The Mainland China equity market reversed early losses to end higher, lifted by strong performance of shares related to the Belt and Road Initiative. But gains were capped amid concern Chinese authorities would continue to pursue policies aimed at reining in financial risks by preventing excessive speculation in the equity and real estate markets. The benchmark Shanghai Composite Index ended up 0.36%, or 11.34 points, at 3,152.19 and the Shenzhen Composite Index, which tracks stocks on Chinas second exchange, rose 0.36%, or 10.24 points, to 1,900.03. The ChiNext Index, Chinas NASDAQ-style board, ended 1.23% higher at 1,842.92 points.

The Shanghai index tumbled to below 3,100 points in the morning before strong shares related to the Belt and Road and environmental protection boosted the market. Jiangsu Lianyungang Port and Guangzhou Port both surged by the daily limit of 10% to end the day at 7.67 yuan and 10.3 yuan per share, respectively.

Chinas major industrial firms continued to post double-digit growth in March, adding to signs of a stabilizing Chinese economy, official data showed Thursday. The companies reported a 23.8-percent year-on-year profit growth last month, slowing from 31.5% in January and February but still much faster than the 8.5-percent increase in 2016, according to the National Bureau of Statistics.

Data from the National Bureau of Statistics (NBS) released on Thursday showed that the combined profits of Chinese industrial firms stood at CNY688.7 billion in March, up 23.8% from the same month last year. The gain for industrial profits was 7.7 percentage points lower than that in the January-to-February period, but it was 12.7 percentage points higher than the gain in March 2016. Data for January and February were combined to smooth out the distortion from the Chinese New Year holiday. The NBS attributed the slowdown to a faster rise in input prices than output prices. The index of input prices stood at 110.0, 0.9 percentage point higher than in January and February, while the index of output prices was 107.6, up 0.3 percentage point. The profits of five key sectors rose to CNY75.2 billion, a decline of CNY95 billion from January and February, contributing to a fall of 8.5 percentage points from industrial output as a whole in March. The five sectors are coal mining and processing; petroleum and natural gas exploitation; oil processing and nuclear fuel processing; chemical raw materials and chemical products manufacturing; and ferrous metal smelting and processing. For the first quarter, combined profits of industrial companies were CNY1.704 trillion, up 28.3% from the same quarter last year, the NBS said. Thirty-eight of 41 industrial sectors posted year-on-year profit increases in the first quarter, compared with thirty-one during the same period last year.

Hong Kong Stocks rebound

The Hong Kong stock market reversed early losses to chalk up to highest level in 20 months today, as investor sentiment remained supported by the US announcement it would renegotiate the NAFTA deal, soothing fears after reports said Donald Trump was considering leaving it. The market also drew support from continuous flows of money from mainland Chinese investors. The Hang Seng Index inclined 120.05 points, or 0.49%, to 24698.48. The Hang Seng China Enterprises Index was down 56.38 points, or 0.55%, to 10261.25. Turnover decreased slightly to HK$76.3 billion from HK$78.6 billion on Wednesday.

Tencent climbed 1.2% to HK$244.6 on reports it has initiated an IPO works for its music business, with a valuation of US$10 billion. Meitu (01357) gained 5.7% to HK$11.5.

Standard Chartered (02888) put on 4.8% to HK$75.45 after the bank said its profit before taxation for 1Q soared 98% to US$990 million. China Minsheng Bank (01988) declined 1.5% to HK$7.76. The bank reported that its net profit for the first quarter rose 3.6% to Rmb14,199 million.

AIA (01299) soared 6.2% to HK$54.5 after the insurer reported its value of new business growth of 53% for 1Q. AIA (01299) said its value of new business (VONB) for the first quarter ended 28 February 2017 rose 55%% on constant exchange rates and 53% on actual exchange rates year-on-year to US$884 million. This is also the highest quarterly VONB result since AIAs IPO in 2010. VONB margin was 49.2%, a decrease of 2 percentage points on constant exchange rates and 2.4 percentage points on actual exchange rates. Annualised new premiums amounted to US$1,779 million, an increase of 62% from a year earlier on a constant exchange rate basis.

Sands China (01928) reported a net income of US$349 million in the first quarter of 2017, an increase of 11.9% from a year earlier, according to the financial results released by its controlling shareholder Las Vegas Sands Corp. Total net revenues for Sands China increased 15.3% to US$1.88 billion. Las Vegas Sands said adjusted EBITDA for its Macao operations was US$624 million in the first quarter of 2017, an increase of 20.5% compared to the prior year quarter. EBITDA margin expanded by 140 basis points to a market-leading 33%, as it benefited from ongoing cost efficiencies and improved business mix. Its shares closed 3.5% down at HK$35.55.

Anta Sports (02020) fell 2.7% to HK$21.8 after Daiwa Researchs downgrade. Daiwa Research cut its target price for Anta Sports Products (02020) to HK$25 from HK$28, and maintained its buy rating. The research house cited Antas management indicating that the retail sales for its ANTA branded products were stable during 1Q 2017, with retail discount levels and channel inventory at 30% and 4-5 months, respectively. Daiwa expects the company to announce its 1Q 2017 operational update in mid-May, for which the research house estimated that ANTAs branded retail sales would grow 10% YoY for 1Q 2017 and a flattish 4Q 2017 order book. Daiwa lowered its 2017-19 EPS by 7-10% factoring in higher staff costs and rental expenses for its store openings and the 7% share dilution from its top-up placement of 175m shares in March.

Sensex falls as investors book profits

Indian stock market closed down after hitting record highs the previous day as investors took a breather and booked profits in recent outperformers such as ITC Ltd, while Axis Bank Ltd fell on a drop in quarterly profit. BSE Sensex closed lower by 104 points, or 0.34%, to 30,030, while the Nifty 50 fell 10 points, or 0.10%, to 9,342. Lupin, Aurobindo Pharma and ITC were the top losers, while Tata Motors, Infosys, Yes Bank and ACC gained the most.

Kotak Mahindra Bank rose 1.58% to Rs 914.55 after net profit rose 40.34% to Rs 976.48 crore on 9.85% rise in total income to Rs 5434.65 crore in Q4 March 2017 over Q4 March 2016. The result was announced during market hours today, 27 April 2017. Kotak Mahindra Banks non-performing assets (NPAs) stood at Rs 3578.61 crore as on 31 March 2017 as against Rs 3177.88 crore as on 30 December 2016 and Rs 2838.11 crore as on 31 March 2016. The ratio of gross NPAs to gross advances rose to 2.59% as on 31 March 2017 as against 2.42% as on 31 December 2016 and 2.36% as on 31 March 2016. The ratio of net NPAs to net advances increased to 1.26% as on 31 March 2017 as against 1.07% as on 31 December 2016 and 1.06% as on 31 March 2016. The banks provisions and contingencies (excluding tax provisions) rose 33.41% to Rs 267.37 crore in Q4 March 2017 over Q4 March 2016.

Car major Maruti Suzuki India fell 0.56% to Rs 6,371.15. The companys net profit rose 15.8% to Rs 1709 crore on 20.3% growth in net sales to Rs 18005.20 crore in Q4 March 2017 over Q4 March 2016. The result was announced during market hours today, 27 April 2017. Growth in volumes, increase in share of the companys higher segment models, benefits due to full capacity utilization and cost reduction efforts contributed to increase in profits. This was partially offset by increase in commodity prices and adverse forex movement.

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Hong Kong Stocks rebound
Apr 27,2017

The Hong Kong stock market reversed early losses to chalk up to highest level in 20 months on Thursday, 27 April 2017, as investor sentiment remained supported by the US announcement it would renegotiate the NAFTA deal, soothing fears after reports said Donald Trump was considering leaving it. The market also drew support from continuous flows of money from mainland Chinese investors. The Hang Seng Index inclined 120.05 points, or 0.49%, to 24698.48. The Hang Seng China Enterprises Index was down 56.38 points, or 0.55%, to 10261.25. Turnover decreased slightly to HK$76.3 billion from HK$78.6 billion on Wednesday.

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China Stocks end higher
Apr 27,2017

The Mainland China equity market reversed early losses to end higher on Thursday, 27 April 2017, lifted by strong performance of shares related to the Belt and Road Initiative. But gains were capped amid concern Chinese authorities would continue to pursue policies aimed at reining in financial risks by preventing excessive speculation in the equity and real estate markets. The benchmark Shanghai Composite Index ended up 0.36%, or 11.34 points, at 3,152.19 and the Shenzhen Composite Index, which tracks stocks on Chinas second exchange, rose 0.36%, or 10.24 points, to 1,900.03. The ChiNext Index, Chinas NASDAQ-style board, ended 1.23% higher at 1,842.92 points.

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Japan Stocks fall on profit booking
Apr 27,2017

The Japan share market finished down on Thursday, 27 April 2017, as investors locked in profits following the markets four days run of closing highs. Selloff was also fuelled in response to yen appreciation against greenback after BoJ stands pat on policy and as the Trump administrations plans to overhaul the US tax system. The 225-issue Nikkei Stock Average declined 37.56 points, or 0.19%, to close the day at 19,251.87. The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, fell 0.74 point, or 0.05%, to finish at 1,536.67. Rising stocks outnumbered declining ones on the Tokyo Stock Exchange by 1943 to 1099 and 308 ended unchanged. The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was down 3.40% to 15.04 a new 1-month low.

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Australia Shares end higher
Apr 27,2017

Australian equity market ended slight higher on Thursday, 27 April 2017, as gains in industrial, healthcare, financial and property trusts issues were more than offset by losses in energy, materials, and consumer goods stocks. The S&P/ASX200 closed 9.50 points, or 0.16%, up at 5921.50, while the All Ordinaries tracked closely behind, up 7.60 points, or 0.13%, to 5944.40. Falling stocks outnumbered advancing ones on the Australia Stock Exchange by 566 to 558 and 371 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 6.41% to 11.682.

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Asia Pacific Market: Stocks tracks French election rally
Apr 25,2017

Asia Pacific share market inclined on Tuesday, 25 April 2017, as risk appetite buying sparked by tracking rallies on U.S. and European bourses overnight and the outcome of Frances vote on Sunday.

Stocks got off to a firmer start after European and U.S. equities staged a powerful rally Monday, inspired by centrist Emmanuel Macrons lead in the first round of the closely watched French presidential election Sunday. Macron is known as a pro-European Union candidate. The first round of Frances presidential election raised expectations that the European Union will hold together. Emmanuel Macron, a candidate investors see as pro-business, won the most votes and is seen likely to beat Marine Le Pen, the remaining, anti-EU candidate in the May 7 runoff.

With one of the years major risks to markets seen less acute, markets were also looking ahead to other factors, including US President Donald Trumps promise to announce on Wednesday n++a big tax reform and tax reductionn++. The Wall Street Journal reported Trump wanted to cut the corporate tax rate to 15%. The White House budget director told Fox News on Monday Trumps announcement would focus on principles, ideas and rates.

Among Asian bourses

Nikkei retakes 19K on global lead, weaker yen

The Japan share market finished higher, as investor sentiment was bolstered by rallies on U.S. and European bourses, yen depreciation near the 110-level against greenback, and the outcome of Frances vote on Sunday. The 225-issue Nikkei Stock Average added 203.45 points, or 1.08%, to close the day at 19,079.33. The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, gained 16.02 points, or 1.07%, to finish at 1,519.21. Rising stocks outnumbered declining ones on the Tokyo Stock Exchange by 2492 to 589 and 271 ended unchanged. The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was down 16.96% to 16.79 a new 1-month low.

Yamato Holdings attracted purchases on news reports that parcel delivery subsidiary Yamato Transport will raise its basic delivery fees by 5 to 20% as early as September. Mega-banks Mitsubishi UFJ and Mizuho, insurers Dai-ichi Life and Tokio Marine, and brokerage firm Nomura were upbeat after their U.S. peers fared well on Wall Street. Other major winners included automakers Toyota, Honda and Nissan as well as industrial materials maker Showa Denko.

By contrast, mobile phone carrier NTT Docomo met with selling following a media report about a weaker than expected estimate of its consolidated operating profits for the year through March 2018. Also on the minus side were Oriental Land, the operator of Tokyo Disneyland and Tokyo DisneySea, and furniture retailer Nitori Holdings.

ECONOMY: The Service Producer Price Index with a 2010 base year was released on Tuesday by the Bank of Japan, showing Japans service producer prices rose 0.8% on year in March, after a 0.8% gain in February. Business service prices have shown modest gains in a range of +0.1% to +0.8% y/y in the past year, reflecting a gradual pickup in domestic demand and continued labor shortages. On the month, the SPPI rose 0.6% in March, the second consecutive rise after a 0.3% rise in February. In fiscal 2016 that ended on March 31, the index rose 0.4% on year, the fourth straight annual rise after +0.4% in fiscal 2015.

China Pension funds lift shares

The Mainland China equity market closed higher, following the previous sessions sharp sell-off and news that pension funds have started buying stocks. Most sectors gained, with consumer stocks outperforming the broader market as investors rotating out of growth shares into defensive plays. The blue-chip CSI300 index rose 0.3%, to 3,440.97 points, while the Shanghai Composite Index gained 0.2% to 3,134.57 points.

The Ministry of Human Resources and Social Security said yesterday that 137 billion yuan (US$20 billion) of pension funds have begun to invest in the stock market.

Shares of consumer linked companies advanced, as investors sought defensive plays amid bearish trends elsewhere in the market. Kweichow Moutai Co jumped 5.1% to 418.89 yuan after the liquor maker reported first-quarter net profit grew 25.2% year on year to 6.1 billion yuan.

Shares related to Xiongan New Area rose, with Langfang Development Co surging by the daily limit of 10% to 19.58 yuan.

INDUSTRY NEWS: Chinas installed wind power capacity continued to grow in the first quarter of this year, according to the National Energy Administration. China had 151 million kilowatts of installed wind power capacity at the end of the first quarter, up 13% year on year. Qinghai, Shaanxi, Henan and Hebei provinces increased the most in wind power capacity during the first three months, the NEA said in a statement. Wind power facilities generated 68.7 billion kilowatt-hours of electricity in the first quarter, 26% more than in the same period of 2016.

Hong Kong Stocks tracks French election rally

The Hong Kong stock market closed higher, joining a region-wide rebound, sparked by the outcome of Frances vote Sunday. All main sectors in Hong Kong rose, with financials and technology stocks among the biggest gainers. The Hang Seng index rose 1.3 percent, to 24,455.94, while the China Enterprises Index gained 1.6 percent, to 10,272.07 points. Turnover increased to HK$76.9 billion from HK$65.5 billion on Monday.

The northbound quota balance of the Shanghai-HK Connect program was RMB12.2 billion, accounting for 93.8% of the daily allowed quota of RMB13 billion. The southbound quota balance was RMB8.563 billion, accounting for 81.6% of the daily allowed quota of RMB10.5 billion. As for the Shenzhen-HK Connect, the northbound quota balance was RMB12.208 billion, accounting for 93.9% of the daily allowed quota of RMB13 billion. The southbound quota balance was RMB10.186 billion, accounting for 97% of the daily allowed quota of RMB10.5 billion.

Tencent (00700) added 2% to HK$242.8 after hitting a all-time high of HK$241.2, boosted by the record close of the NASDAQ. IGG (00799) soared 11% to HK$11.78. ICBC (01398) put on 2.2% to HK$5.1. CCB (00939) gained 1.9% to HK$6.35. China Life (02628) climbed 2% to HK$23.45.

Chongqing Iron & Steel (01053) dived 16.2% to HK$1.14 after the company said its creditor has filed an application court seeking reorganisation of Chongqing Iron.

Short-seller Glaucus Research published a 52-page report saying Fullshare Holdings (00607) share price has been manipulated. The company requested a trading halt. Its shares plunged 11.9% to HK$2.52 before suspension.

Fullshares 26.82%-ownded Applied Development (00519) also plunged 12% to HK$0.58. China Huarong (02799), which holds stake in Fullshare, pounded 9.3% to HK$3.04.

ECONOMY: Hong Kongs value of total exports of goods (comprising re-exports and domestic exports) rose 16.9% in March over a year earlier to HK$321.9 billion, after a year-on-year increase of 18.2% in February, according to the Census and Statistics Department. Within this total, the value of re-exports grew 16.9% to HK$317.7 billion in March, while the value of domestic exports picked up 16.8% to HK$4.2 billion.

B>Nifty settles at record high

Key benchmark indices logged strong gains in sync with upbeat global equities after centrist candidate Emmanuel Macron won the first round of the French presidential election on Sunday, 23 April 2017. The barometer index, the S&P BSE Sensex, jumped 287.40 points or 0.97% to settle at 29,943.24. The Nifty 50 index surged 88.65 points or 0.96% to settle at 9,306.60.

Todays gains were led by index heavyweights ITC, HDFC and Reliance Industries (RIL). Key indices gained for the second day in a row today, 25 April 2017. All the nineteen sectoral indices on BSE edged higher.

Index heavyweight Reliance Industries (RIL) gained 1.14% to Rs 1,432.50 after consolidated net profit excluding exceptional items rose 16.6% to Rs 8046 crore on 45.2% growth in turnover to Rs 92889 crore in Q4 March 2017 over Q4 March 2016.

IndusInd Bank rose 1.48%. The banks announced that it inaugurated its third branch in Jamshedpur. Expanding presence across Jharkhand, IndusInd Bank recently inaugurated its third branch in Jamshedpur, the first planned industrial city of India. The branch is located at Mango, Jamshedpur. With the inauguration of this branch, the bank now has 19 branches in the state of Jharkhand. The announcement was made after market hours yesterday, 24 April 2017.

Auto major Mahindra & Mahindra advanced 3.4% to Rs 1,307.50 on reports that a foreign brokerage has upgraded the stock to outperform from neutral with increased target price at Rs 1,500 from Rs 1,390 earlier. The brokerage house cited potential for M&Ms tractor business that will surprise positively going ahead. Reports suggested that the brokerage believes with number of state governments planning to introduce farm loan waivers, tractor demand could get further boost. The brokerage added that weakness in utility vehicle market already factored in by M&M.

IT major Infosys rose 0.32% to Rs 929 after the company announced that it is strengthening its engineering footprint in Eastern Europe by opening its first office and delivery center in Karlovac, Croatia. The announcement was made after market hours yesterday, 24 April 2017.

Australia and New Zealand equity market closed for Anzac Day

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China Pension funds lift shares
Apr 25,2017

The Mainland China equity market closed higher on Tuesday, 25 April 2017, following the previous sessions sharp sell-off and news that pension funds have started buying stocks. Most sectors gained, with consumer stocks outperforming the broader market as investors rotating out of growth shares into defensive plays. The blue-chip CSI300 index rose 0.3%, to 3,440.97 points, while the Shanghai Composite Index gained 0.2% to 3,134.57 points.

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Nikkei retakes 19K on global lead, weaker yen
Apr 25,2017

The Japan share market finished higher on Tuesday, 25 April 2017, as investor sentiment was bolstered by rallies on U.S. and European bourses, yen depreciation near the 110-level against greenback, and the outcome of Frances vote on Sunday. The 225-issue Nikkei Stock Average added 203.45 points, or 1.08%, to close the day at 19,079.33. The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, gained 16.02 points, or 1.07%, to finish at 1,519.21. Rising stocks outnumbered declining ones on the Tokyo Stock Exchange by 2492 to 589 and 271 ended unchanged. The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was down 16.96% to 16.79 a new 1-month low.

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US stocks register strong gains
Apr 25,2017

U.S. stocks rallied to finish higher on Monday, 24 April 2017 with major indexes advancing more than 1% and the tech-heavy Nasdaq scoring a record high close following a strong showing by centrist Emmanuel Macron in the French presidential election, which averted fears that Paris could eventually move to leave the euro and the European Union. The strong showing by Macron, who still must face off against euroskeptic rival Marine Le Pen on 7 May 2017, sparked a global relief rally for assets perceived as risky.

The Dow Jones Industrial Average umped 216.13 points, or 1.1%, to close at 20,763.89. The Nasdaq Composite Index finished up 73.30 points, or 1.2%, to a record close at 5,983.82, after reaching an all-time high of 5,989.92 earlier in the session. The S&P 500 surged 25.46 points, or 1.1%, to 2,374.15.

Nine of the indexs 11 sectors traded higher, led by a gain in financials, industrial and tech stocks.

Dow was led by a surge in shares of J.P. Morgan Chase & Goldman Sachs.

Centrist candidate Emmanuel Macron topped the field in Sundays first-round election. Hell face off with euroskeptic, right-wing candidate Marine Le Pen in a 7 May 2017 runoff. Early polls give Macron a substantial lead.

Investors were also waiting to hear more about a n++massiven++ U.S. tax package that President Donald Trump said is coming this week, which could revive the so-called n++Trump traden++ that started after his election in November, and which came on hopes that policies seen as pro-growth would swiftly pass Congress.

Perceived safe-haven assets like gold, the Japanese yen, and U.S. Treasurys all fell on the day.

Yields for the 10-year Treasury jumped to 2.27% from 2.23% late Friday.

Crude oil benchmark fell for a sixth straight session on Monday, 25 April 2017 as nagging worries about rising domestic production outweighed optimism about prospects for an extended agreement on output cuts by OPEC and other major producers.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in June fell 39 cents, or 0.8%, to close at $49.23 a barrel, its lowest settlement in nearly four weeks.

June Brent crude, the global benchmark, fell 36 cents, or 0.7%, to settle at $51.60 a barrel on Londons ICE futures exchange.

Gold for June delivery dropped $11.60, or 0.9%, to close at $1,277.50 an ounce, but off a session low of $1,266. May silver ended little changed at $17.86 an ounce.

Investors did not receive any economic data on Monday. However, on Tuesday, participants will receive several economic reports, including the February Case-Shiller Home Price Index (consensus 5.8%) at 9:00 ET, February FHFA Housing Price Index at 9:00 ET, March New Home Sales (consensus 590,000) at 10:00 ET, and April Consumer Confidence (consensus 122.3) at 10:00 ET.

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Asia Pacific Market: Stocks rise on bargain hunting, eyes on French election
Apr 20,2017

Asia Pacific share market ended slightly higher on Thursday, 20 April 2017, helped by bottom fishing in recently battered stocks, with defensives such as the consumer and healthcare sectors being major gainers. However, market topside capped, as investors remained on the sidelines for a lack of economic cues while uncertainties around the French elections over the weekend kept global risk appetite muted.

The French presidential elections will be closely watched as the stakes for investors are high, with two anti-EU, anti-euro candidates among the four seen still in contention to make it to a second round two weeks after Sundays ballot.

Among Asian bourses

Australia: Shares gain lead by banks, telcos

Australian equity market finished session slightly higher on Thursday, 20 April 2017, as bargain hunters bought stocks that were battered in the last few sessions. Most of the ASX sectors advanced, with banks and telecom heavyweights being major gainers, while resources stocks continued to be under pressure from weaker commodity prices. The S&P/ASX 200 index gained 0.3% or 17.39 points to end the session at 5821.40. Declining stocks outnumbered rising ones by 583 to 499 and 354 ended unchanged on the Sydney Stock Exchange. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 0.53% to 13.710.

The telecom index posted second straight session of gains after four days of falls. Telstra Corp, Australias largest telecoms company, and TPG Telecom both ended 2.9% higher.

The big four banks ended higher. Australia & New Zealand picked up 1.2%, National Australia Bank rose 0.9%, Commonwealth Bank of Australia added 0.6% and Westpac gained 0.2%.

Energy stocks finished lower, with oil majors Woodside Petroleum falling 1.2% after it reported weak sales revenue and volumes after production was dampened back by tropical storms and heavy rains in the first three months of the year. Santos was 2.5% weaker after its quarterly numbers showed a further reduction in debt but lower production following recent asset sales.

Materials and resources were also down, with BHP Billiton down 1.1%, Fortescue Metals Group down by 1.2% and Oz Minerals sink 3% following steady declines in iron ore the past week, and in the wake of quarterly trading updates from several resources companies.. Rio Tinto fared somewhat better, falling 0.4% after it lowered its mined copper target for the year but held steady on production guidance for other important commodities, including iron ore and aluminum. Mineral sands miner Iluka jumped 11% amid signs of improved demand in the market and after its acquisition of Sierra Rutile drove sharp increases in first-quarter revenue and production.

Japan Stocks end nearly flat

The Japan share market finished nearly flat for second straight session, as halt in yen appreciation and the countrys strong trade data lifted sentiment. However, upside was capped as investors remained cautious ahead of global risk events such as the first-round of French presidential elections at the weekend and mounting tensions over North Korea. The Nikkei 225 share average ended 0.01% lower at 18,430.49 while the broader Topix gained 0.09% to 1,472.81.

Chip makers advanced after Semiconductor Equipment Association of Japan said that producers of flat-panel-display equipment posted 55.86 billion yen in orders in March and a book-to-bill ratio of 1.40, up 36.5% from the previous month. Tokyo Electron rose 0.8% and Advantest Corp jumped 4.5%

Mining stocks declined with Inpex Corp and Japan Petroleum Exploration Co underperformed, falling 1.3% and 1.7%, respectively, after oil fell to a two-week low on Wednesday before recovering in Thursdays Asian trade. It was hit by a surprising build in U.S. gasoline inventories and a rise in U.S. crude output.

The Ministry of Finance released trade statistics on Thursday, showing Japans March exports rose 12% on year, after gaining 11.3% in February, led by higher shipments of auto parts, optical equipment (steppers, etc.) and steel on a gradual pickup in global demand. Meanwhile, imports gained 15.8% on year, after +1.2% in February, as crude oil and fuel prices continued to post year-on-year gains. As a result, the March registered a trade surplus of Y614.7 trillion, the second consecutive black ink. It narrowed from a surplus of Y813.5 billion in February and a surplus of Y744.9 billion in March 2016.

China Stocks snap 4-day losing streak

The Mainland China equity market closed higher for the first time in five straight sessions, as investors chased for bottom fishing in recently battered stocks, with defensives such as the consumer and healthcare sectors being major gainers, while fleeing small caps and stocks related to the new Xiongan economic zone. The benchmark Shanghai Composite Index was flat, inching up 1.41 points to 3,172.10 and the Shenzhen Composite Index, which tracks stocks on Chinas second exchange, eased 0.19%, or 3.68 points, to 1,928.78.

Investors rushed into sectors that promise stable returns and generous dividend payouts, pushing both consumer and healthcare indexes up over 2%, while an index tracking liquor makers jumped 3.3%.

Xiongan has been widely seen as a high-profile property and infrastructure investment theme, but rocketing share price rises for firms which could benefit from the plan have prompted warnings from regulators about excessive speculation.

Shares of countrys major lenders slid amid worries over increasing regulation and after Moodys said results of Chinese banks for 2016 showed continued pressure on profitability.

Hong Kong Stocks snap three-day sell-off

The Hong Kong stock market closed comfortably higher after a three-day sell-off, as investors chased for bottom fishing on recently battered stocks after China announced fresh tax cuts. However, market topside capped amid lingering geopolitical concerns and worries about the future of Donald Trumps huge stimulus programme. The Hang Seng Index ended 0.97%, or 231.10 points, higher at 24056.98. The China Enterprises Index gained 0.7% to 10,056.17. Turnover decreased to HK$67.7 billion from HK$72.2 billion on Wednesday. Thirty-nine stocks rose among the 50 blue chips, and nine fell, with one stock remain steady.

The northbound quota balance of the Shanghai-HK Connect program was RMB12.07 billion, accounting for 92.8% of the daily allowed quota of RMB13 billion. The southbound quota balance was RMB9.307 billion, accounting for 88.6% of the daily allowed quota of RMB10.5 billion. As for the Shenzhen-HK Connect, the northbound quota balance was RMB12.181 billion, accounting for 93.7% of the daily allowed quota of RMB13 billion. The southbound quota balance was RMB10.273 billion, accounting for 97.8% of the daily allowed quota of RMB10.5 billion.

Geely Automobile (00175) rose 3.2% to HK$11.64 after yesterdays rally of 6.4%. Internet and technology plays stole the spotlight today. Tencent (00700) jumped 2.8% to HK$236.6. Forgame (00484) soared 14.8% to HK$10.08. Boyaa Interactive (00434) also shot up 10% to HK$4.1. IGG (00799) jumped 6.8% to HK$10.5. Kingsoft (03888) climbed 5% to HK$20.5. AAC Technologies (02018) put on 2% to HK$102.3. Sunny Optical (02382) surged 4.7% to HK$59.5.

India market settles with modest gains

India Key benchmark indices settled with modest gains after gyrating in a small range in the positive terrain throughout the day as largely positive global cues supported gains. The barometer index, the S&P BSE Sensex, rose 85.82 points or 0.29% to settle at 29,422.39. The Nifty 50 index rose 32.90 points or 0.36% to settle at 9,136.40. The Sensex gained for the second day in a row while Nifty snapped a five-day losing streak today, 20 April 2017. Realty, IT, bank, capital goods and FMCG stocks hogged limelight in todays trade. Yes Bank dropped as the banks bad loans rose in Q4.

Meanwhile, foreign portfolio investors (FPIs) net sold shares worth Rs673.38 crore during Wednesdays trading session, as per provisional data.

Private sector lender Yes Bank plunged 3.76% after it yesterday reported rise in NPA levels for the quarter ended March, even though net profit grew 30.2% to Rs 914.12 crore. ICICI Bank and Axis Bank too were under pressure and lost up to 2.90%.

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Australia Shares gain lead by banks, telcos
Apr 20,2017

Australian equity market finished session slightly higher on Thursday, 20 April 2017, as bargain hunters bought stocks that were battered in the last few sessions. Most of the ASX sectors advanced, with banks and telecom heavyweights being major gainers, while resources stocks continued to be under pressure from weaker commodity prices. The S&P/ASX 200 index gained 0.3 per cent or 17.39 points to end the session at 5821.40. Declining stocks outnumbered rising ones by 583 to 499 and 354 ended unchanged on the Sydney Stock Exchange. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 0.53% to 13.710.

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Japan Stocks end nearly flat
Apr 20,2017

The Japan share market finished nearly flat for second straight session on Thursday, 20 April 2017, as halt in yen appreciation and the countrys strong trade data lifted sentiment. However, upside was capped as investors remained cautious ahead of global risk events such as the first-round of French presidential elections at the weekend and mounting tensions over North Korea. The Nikkei 225 share average ended 0.01% lower at 18,430.49 while the broader Topix gained 0.09% to 1,472.81.

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China Stocks snap 4-day losing streak
Apr 20,2017

The Mainland China equity market closed higher for the first time in five straight sessions on Thursday, 20 April 2017, as investors chased for bottom fishing in recently battered stocks, with defensives such as the consumer and healthcare sectors being major gainers, while fleeing small caps and stocks related to the new Xiongan economic zone. The benchmark Shanghai Composite Index was flat, inching up 1.41 points to 3,172.10 and the Shenzhen Composite Index, which tracks stocks on Chinas second exchange, eased 0.19%, or 3.68 points, to 1,928.78.

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Hong Kong Stocks snap three-day sell-off
Apr 20,2017

The Hong Kong stock market closed comfortably higher after a three-day sell-off on Thursday, 20 April 2017, as investors chased for bottom fishing on recently battered stocks after China announced fresh tax cuts. However, market topside capped amid lingering geopolitical concerns and worries about the future of Donald Trumps huge stimulus programme. The Hang Seng Index ended 0.97 per cent, or 231.10 points, higher at 24056.98. The China Enterprises Index gained 0.7 percent to 10,056.17. Turnover decreased to HK$67.7 billion from HK$72.2 billion on Wednesday. Thirty-nine stocks rose among the 50 blue chips, and nine fell, with one stock remain steady.

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Asia Pacific Market: Stocks mixed as geopolitical tensions sour mood
Apr 19,2017

Asia Pacific share market closed mixed on Wednesday, 19 April 2017, as tensions over North Korea and uncertainty about the UK election weigh on investor sentiment.

Escalating tensions between the United States and North Korea kept investors nervous, while eyes were also on Europe where sterling surged after British Prime Minister Theresa May called an early general election for June 8, seeking to strengthen her partys majority ahead of Brexit negotiations.

Frances presidential election is closely watched as the stakes for investors are high, with two anti-EU, anti-euro candidates among the four seen still in contention to make it to a second round two weeks after Sundays ballot. Meanwhile, a surprise announcement, British Prime Minister Theresa May called for an early general election on June 8 as Britain prepares for delicate negotiations on leaving the European Union by 2019.

The political calendar was already heavy in 2017 with upcoming votes in France and Germany having major implications for the eurozone. The first round of the French presidential election is scheduled for Sunday.

Among Asian bourses

Australia Shares hit 3-week low

Australian equity market finished session at three-week lows, on tracking wider market weakness in the region as presidential elections in France. Meanwhile, escalating tensions between the United States and North Korea continued to weigh on investor sentiment. Most of the ASX sectors declined, with heavyweight bank shares being major losers after the central bank flagged risks in the countrys housing market, while energy shares continued to drag on persistent weakness in oil prices. At the close, the benchmark SS&P/ASX 200 declined 32.70 points, or 0.56%, to 5804.

Financials were lower, with Commonwealth Bank of Australia, Westpac Banking, Australia & New Zealand Banking and National Australia Bank down by between 1% and 1.6%.

Real estate stocks took a beating with shares of property developers Scentre Group and Stockland Corporation Ltd shedding 2.1% and 2.5%, respectively.

Shares of resources companies also declined, with growing worries about a production glut pressured crude oil prices Oil major Woodside Petroleum to 1% down, while peer Oil Search dropped 1.9% after it announced a drop in quarterly output. Meanwhile, large-cap miners such as BHP Billiton and Rio Tinto reversed early losses, with BHP ending 0.02% down and Rio shares gaining 1.6%.

Telecommunications operators Telstra and TPG Telecom both rebounded from sharp selling in recent days after the latter unveiled plans to launch a new mobile network in Australia. Telstra jumped 3.3% and TPG gained 7.1%, although the remain down 11% and 14%, respectively, so far this month.

Japan Stocks end mixed

The Japan share market finished virtually flat in choppy trade, as investors turned cautious amid lingering concern over the North Korean situation and after Britains shock decision to call a snap general election. The 225-issue Nikkei average edged up 0.07% to 18,432.20 after traversing positive and negative territory, while the broader Topix was down 0.01% at 1,471.42.

Exporters were mixed, with Toyota Motor Corp falling 1.1%, Honda Motor Co shedding 1.2% and Panasonic Corp rising 0.7%.

Shippers fell after the Baltic dry index, or freight charges, dropped overnight. Mitsui OSK Lines shed 2.1% and Nippon Yusen stumbled 3.1%.

Toshiba tacked on 1.6% after Japans Nikkei business daily reported the loss-hit industrial giant plans to spin off infrastructure and other major operations into separate companies in a bid to quicken management decisions. The Asahi newspaper separately reported Japans industry ministry was considering having government-backed firms make a joint bid for Toshibas memory chip business with US semiconductor company Broadcom, amid concerns about the sensitive technology going abroad

China Stocks fall for fourth day

The Mainland China equity market closed lower for fourth straight session, as risk aversion selloff flared on deepening worries that tighter regulations against speculation and shadow banking will hurt the countrys credit-fuelled recovery. Most of the sectoral blue-chip stocks fell, with raw material shares among the worst hit as commodity prices fell sharply. But consumer and healthcare stocks - generally viewed as defensive in nature - continued to outperform the broader market ,amid a time of volatility. The blue-chip CSI300 index fell 0.5% to 3,445.88 points. The benchmark Shanghai Composite Index slipped 0.81%, or 26.02 points, to 3,170.69. The Shenzhen Composite Index, which tracks stocks on Chinas second exchange, dropped 0.62%, or 13.96 points, to 1,932.46.

China has stepped up property curbs in major cities, launched a nationwide inspection on banks businesses with a focus on shadow banking, and vowed to fight speculation in the stock market.

Underscoring the painful trade-off China is facing, the International Monetary Fund on Tuesday warned of potential economic disruptions in the medium-term if it failed to reduce its reliance on rapid credit growth.

Some investors worry that strong economic growth reported in the first quarter will begin to ease in coming months as the effect of earlier stimulus starts to fade, and as local governments announce tougher measures to curb the overheated property market.

The central bank has also signalled a move to a tighter monetary policy bias, raising short-term interest rates to contain risks in the system and discourage speculation.

Among big movers, Jiangsu Zhangjiagang Rural Commercial Bank, listed in Shenzhen in January, jumped 10% to the daily limit to 17.9 yuan. The stock had fallen 16% in the previous three days as China Securities Regulatory Commission vowed to regulate speculative or manipulated trading in recently listed stocks or those paying exceptionally high bonuses.

Similar concept stocks like Eurocrane China Co and Chongqing Construction Engineering Group also bounced up by their 10% daily limits.

Hong Kong Stocks fall on uncertainties

The Hong Kong stock market closed down for third straight session, on tracking a sell-off across Asia, Europe and the US on geopolitical concerns and growing uncertainty about the Frances presidential election. Sentiment was also hurt by a weakness in Chinas stock market, after Beijings stepped-up property curbs and deleveraging campaign will slow Chinas economic growth. The citys benchmark Hang Seng Index slid 0.4%, or 98.7 points, to 23,825.88, a level unseen since March 15. The Hang Seng China Enterprises Index, which tracks the so-called H shares sold by Chinese companies, declined 0.6% to 9,983.7, the lowest level in more than two months. Turnover increased to HK$72.2 billion from HK$70.6 billion on Tuesday.

Among big movers, Geely Automobile Holdings outperformed its blue-chip peers to close 6.4% higher at HK$11.3, following the start of the Shanghai Auto Show. AAC Technologies, component provider for iPhone, surged 5.1% to HK$100.3. Casino operator Sands China lost 2.5% to HK$35.6, Galaxy Entertainment, another casino operator, fell 2.4%.

Air China was the biggest loser among H shares, ending 3.3% down to HK$6.46 after a report by Morgan Stanley recommending investors to sell H shares of mainland airline operators.

Geely Auto (00175) jumped 6.4% to HK$11.28 after Goldman Sachs raised its target price. Great Wall Motor (02333) put on 3.2% to HK$9.27 after the auto maker expects target sales of its new brand WEY to double next year. AAC Technologies (02018) shot up 5% to HK$100.3 on talks that Apple plans to launch the most expensive iPhone to celebrate its 10th anniversary. Sunny Optical (02382) gained 3% to HK$56.85.

HSBC (00005) inched down 0.5% to HK$62.1 as pound rose to 6-month high after the UK government announced an early election. CKI (01038) bucked the downtrend, rising 1.3% to HK$64.15. Standard Chartered (02888) rose 1.2% to HK$69.4.

India stocks end little changed

Key benchmark indices settled almost unchanged amid mixed trend on the bourses after a listless and rangebound session of trade. The barometer index, the S&P BSE Sensex closed with small gains while the Nifty settled with tiny losses. The Sensex rose 17.47 points or 0.06% to settle at 29,336.57. The Nifty 50 index declined 1.65 points or 0.02% to settle at 9,103.50. The Sensex snapped four-day losing streak today, 19 April 2017 while Nifty fell for the fifth straight day. Nifty hit lowest closing level in more than three weeks.

Realty and power stocks rose. Bank stocks declined. IndusInd Bank fell after Q4 results. TCS settled with tiny losses post Q4 results.

NTPC gained 1.86%. The company said board of directors has accorded approval for updating and upsizing the $4 billion medium term notes (MTN) programme upto $6 billion for raising debt from international markets to part finance the capital expenditure on new/ongoing projects, coal mining projects, renovation and modernization of power stations and for other permissible end uses.

IndusInd Bank shed 0.63% after announcing Q4 results. The banks net profit rose 21.16% to Rs 751.61 crore on 22.36% increase in total income to Rs 5041.31 crore in Q4 March 2017 over Q4 March 2016. The result was announced during trading hours today, 19 April 2017. IndusInd Banks net profit rose 25.43% to Rs 2867.89 crore on 22.47% increase in total income to Rs 18577.16 crore in the year ended March 2017 over the year ended March 2016. The banks gross non-performing assets (NPAs) stood at Rs 1054.87 crore as on 31 March 2017 as against Rs 971.62 crore as on 30 December 2016 and Rs 776.82 crore as on 31 March 2016. The ratio of gross NPAs to gross advances stood at 0.93% as on 31 March 2017 as against 0.94% as on 31 December 2016 and 0.87% as on 31 March 2016. The ratio of net NPAs to net advances stood at 0.39% as on 31 March 2017 as against 0.39% as on 31 December 2016 and 0.36% as on 31 March 2016. The banks provisions and contingencies (excluding tax provisions) rose 101.32% to Rs 430.13 crore in Q4 March 2017 over Q4 March 2016.

Yes Bank dropped 0.03%. The banks net profit rose 30.2% to Rs 914.10 crore on 29.44% rise in total income to Rs 5606.38 crore in Q4 March 2017 over Q4 March 2016. The company announced Q4 results after market hours today, 19 April 2017. The banks gross non-performing assets (NPAs) rose to Rs 2018.56 crore as on 31 March 2017 as against Rs 1005.85 crore as on 30 December 2016 and Rs 748.98 crore as on 31 March 2016. The ratio of gross NPAs to gross advances rose to 1.52% as on 31 March 2017 as against 0.85% as on 31 December 2016 and 0.76% as on 31 March 2016. The ratio of net NPAs to net advances stood at 0.81% as on 31 March 2017 as against 0.29% as on 31 December 2016 and 0.29% as on 31 March 2016. The banks provisions and contingencies (excluding tax provisions) rose 66.11% to Rs 309.73 crore in Q4 March 2017 over Q4 March 2016. The board of directors of the bank have recommended the payment of final dividend Rs 12 per share for the year ended 31 March 2017 (FY 2017).

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